The board unanimously approved the budget at its regular meeting Tuesday evening, although board member Viola Salazar was absent.
The vote followed a public hearing on the budget; no one attended.
The $29.5 million figure consists of $25.1 million for the general fund, $1.8 million for food service and $2.6 million for debt service.
The budget also includes a 4 percent cost of living stipend for all employees.
Thomas told the board the stipend will be divided into two payments, one in December and one in May.
By contrast, BISD Superintendent Dr. Sue Thomas mentioned that 80 years ago, in 1932, the BISD budget was $51,676.
Later at the same meeting, the board approved a new tax rate of $1.27 per $100 valuation, down from $1.30 last year.
The new rate consists of $1.04 for maintenance and operations and 23 cents for debt service.