Finance

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

• General Fund

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

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

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.

Financial Information

• The MISD Interest and Sinking Fund Tax Rate (0.3675) is ranked 25th out of 31 fast growth school districts in DFW.

• 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.

• One-Cent Tax Rate Reduction for 2009-2010. Aug. 2009 Board Brief