News

"Superior Achievement" on the 2011 Financial Rating

Posted: September 21, 2011

For the ninth consecutive year, Midlothian ISD received the highest rating of "Superior Achievement" under the state's Schools Financial Integrity Rating System (FIRST). The primary goal of Schools FIRST is to achieve quality performance in the management of school districts' financial resources. This is a significant goal due to the complexity and continuing changes to the Texas school finance system. Read full district report [PDF]

MISD Earns Highest Rating on Comptroller’s FAST Report

Posted: September 16, 2011

Midlothian ISD has earned the highest rating of five-stars in the 2011 Texas Comptroller of Public Accounts FAST (Financial Allocation Study for Texas) rating report.

“This recognition spotlights our conservative effort to be good stewards of MISD’s taxpayer dollars, while providing a quality educational experience for our students,” said Dr. Edd Bigbee, Assistant Superintendent for Finance and Operations.

Each Texas school district and charter school is assigned a FAST rating of one to five stars, indicating its success in combining cost-effective spending with the achievement of measurable student academic progress. There are 46 Texas school districts and charter schools that earned a five-star rating. Texas has over 1,200 school districts and over 200 charter schools.

Financial Information

Tax Rate Notification

The current MISD Interest & Sinking (I&S) Fund Tax Rate is $0.50, and current Maintenance & Operations (M&O) Tax Rate is $1.04.

Among the 4 largest Ellis County school districts (Ennis, Midlothian, Red Oak, Waxahachie), MISD homeowners (with homestead exemption) pay the lowest school taxes.

Texas Financial Integrity Rating System
MISD has earned "Superior Achievement" for six consecutive years in a row in the state's Schools FIRST program.

Budgeted Expenditures	$58,374,280
Expenditure Per Pupil	$7,507

Local Tax Rate Per $100 Valuation	$1.54
Maintenance & Operation (M&O)	$1.04
Debt Service (I&S)	$0.50
Current Bond Indebtedness	$311,110,495

Revenue Sources
Local (59.1%)	$34,506,989
State (40.9%)	$23,867,291

General Fund Budget Expenditures
Instruction/Instructional Related	72.9%
Administration	5.1%
Debt Service	0.4%
Plant Services/Utilities	10.1%
TIRZ Contribution*	10.7%
Tax Collection Costs	0.8%

*Offset by state funding

Updated: 8/19/11

Budget Area chart

Revenue Sources chart

Debt Service [PDF]

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 [PDF]

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 $2.1 million program.

General Fund [PDF]

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.

Check Register

Links below are to PDF documents. Download the free PDF viewer here.

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