The Carroll independent school District (ISD) is taking significant steps to address its financial challenges through strategic property sales. Among the key transactions is the sale of the historic Old Dragon Stadiuma move that aims to generate much-needed revenue to offset budget shortfalls.
The district is facing a projected budget deficit of $1.6 million and a $1.7 million loss in state funding for the 2026-26 fiscal year. These financial hurdles have prompted Carroll ISD to explore various avenues for revenue generation, with property sales emerging as a critical strategy.
Property sales to bolster district finances
The sale of Old Dragon Stadiumlocated at 2400 N. Carroll Ave.is a cornerstone of the district’s financial plan. The stadium, spanning 14.78 acresis one of four properties earmarked for sale, collectively expected to bring in $8.75 million in revenue. This influx is crucial for addressing the district’s financial gaps.
Chase Parkthe deputy superintendent for business and finance, expressed optimism about the timeline for these transactions. “I am optimistic that we will be able to get that purchase sale agreement done and all the inspection period done in time to get funded for this fiscal year,” Park stated during a special meeting of the Carroll ISD board of trustees on June 1.
Impact of tax collection changes
The district’s financial challenges are partly attributed to lower-than-expected tax collections. A change in Texas law, which raised the ceiling on homestead exemptions from $100,000 to $140,000 and increased the tax freeze for residents 65 years and older from $10,000 to $60,000has significantly impacted revenue. “There was really no way to estimate that very well at the time of adoption,” Park acknowledged, highlighting the unpredictability of these changes.
The district’s 2026-26 budget of $162.9 millionadopted on June 23, 2026, is under pressure due to these unforeseen financial shifts. To mitigate the impact, Carroll ISD is exploring cost-saving measures, including staff attrition, which has already resulted in net payroll savings of about $1.2 million.
Enrollment decline and state funding
Adding to the financial strain is a projected decline in student enrollment. The district anticipates a decrease of 200 students for the 2026-27 school year, bringing the projected enrollment down to 7,670 from approximately 8,450 in 2019. This decline translates to a $1.7 million loss in state fundingfurther complicating the district’s financial landscape.
Despite these challenges, Carroll ISD is proactively working to stabilize its finances. The proposed budget for the 2026-27 fiscal year is $160.78 millionreflecting the district’s efforts to adapt to changing circumstances. The Carroll ISD board will hold its next public meeting at 5 p.m. on June 15 to discuss the budget and other critical issues.
As Carroll ISD navigates these financial hurdles, the sale of Old Dragon Stadium and other properties stands out as a pivotal step in ensuring the district’s fiscal health. Through strategic planning and proactive measures, Carroll ISD aims to secure its financial future and continue providing quality education to its students.
