The finance department is responsible for many monetary or financial issues involving purchases and budgeting within the district.

• General Fund (Click to view)

The General Fund is used to record most of the revenues and expenditures of the District. The revenues come primarily from the M&O (Maintenance and Operations) portion of the school taxes, State funds, athletic events, and interest on investments of the District.

General Fund expenditures are for all of the day-to-day operations of the District, for example: salaries of teachers, classroom aides, bus drivers, and maintenance workers; insurance; utilities; supplies; fuel for vehicles; lease payments; etc.

• Debt Service (Click to view)

The Debt Service Fund is primarily used to pay principal and interest on the District’s outstanding bond indebtedness. Revenues are mainly generated from the I&S (Interest and Sinking) portion of school taxes. Revenues in this fund are restricted in their use, and can only be used for debt-related expenditures.

• Food Service (Click to view)

The Food Service Fund is where all revenues and expenditures are recorded that relate to the nutrition needs of our students. The MISD contracts with ARAMARK to run its food service operations.

ARAMARK serves breakfast and lunch every school day at each school cafeteria. The Food Service operation is an approximate $1.8 million program.

MISD Receives Highest State Financial Rating

News Release
November 2006

The Midlothian ISD has received a rating of "Superior Achievement" under the state's Schools FIRST financial accountability rating system for the fourth consecutive year. The "Superior Achievement" rating is the state's highest rating that can be obtained by a school district, demonstrating the quality of MISD's financial management and reporting system.

This is the fourth year that the Schools FIRST has been used by the Texas Education Agency in response to Senate Bill 875 of the 76th Texas Legislature in 1999. The primary goal of Schools FIRST is to achieve quality performance in the management of school districts' financial resources, a goal made more significant due to the complexity of accounting associated with Texas' school finance system.

“We are pleased with Midlothian ISD’s Schools FIRST rating for the fourth consecutive year,” said Superintendent Dr. J.D. Kennedy, “The report supports the fact that we constantly strive to make the most of our resources.”

He added, “We want our community to know that we are committed to being accountable in all district operations from student learning to financial management.”

The questions a school district must address in completing the worksheet used to assess its financial management system can be confusing to non-accountants. The following is an explanation of what the questions mean – and what our district’s answers can mean to its rating.

The rating system assigns one of four financial accountability ratings to Texas school districts, with the highest being “Superior Achievement,” followed by “Above-Standard Achievement,” “Standard Achievement” and “Substandard Achievement.” Districts with serious data quality problems may receive the additional rating of “Suspended-Data Quality.” Districts that receive the “Substandard Achievement” or “Suspended-Data Quality” ratings under the Schools FIRST must file a corrective action plan with the Texas Education Agency.

Midlothian ISD answered "yes" to 21 out of 21 indicators that were used to determine our district's Schools FIRST rating. Click here view the complete report.

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