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Dr. Edd Bigbee
Assistant Superintendent for Finance and Operations
Sandy
Bundrick
Accountant
Vicky
Davis
Purchasing Agent
Sharon
Hendrickson
Accounting Clerk
Angie
Trammell
Accounting Clerk
Tina
Oakley
Accounting Clerk
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Finance
The finance
department is responsible for many monetary or financial issues
involving purchases and budgeting within the district.
NEWS
District Earns a Gold Award for Financial Transparency
Posted: 8/31/10
Midlothian ISD has earned a Gold Leadership Circle Award for the district's website by the Texas Comptroller of Public Accounts. The district earned a perfect score (15/15) on the ratings criteria. The Comptroller's office is awarding local governments that provide clear and consistent information in a user-friendly format which allows taxpayers easy access to financial information. More
Good News! No Increase in School Tax Rate
Posted: 8/17/10
The MISD Board of Trustees unanimously approved an unchanged tax rate for the 2010-2011 school year. The tax rate will remain at $1.04 for maintenance and operations (M&O) and $0.3575 for interest and sinking (I&S) for a total tax rate of $1.3975 per $100 of value.
Because of this year's lower property values, the average homeowner will see a decrease in their school tax bill.
The Board of Trustees annually sets the M&O and I&S tax rates. These tax revenues provide the bulk of the school district's operating revenues, as well as most of the money for payments on the district's debt service (i.e. bonds).
 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.
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.
Financial Information
• The MISD Interest and Sinking Fund Tax Rate (0.3575).
• 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
| Budgeted Expenditures |
$60,221,183 |
| Expenditure Per Pupil |
$7,992 |
| |
|
| Local Tax Rate Per $100 Valuation |
$1.3975 |
| Maintenance & Operation (M&O) |
$1.04 |
| Debt Service (I&S) |
$.3575 |
| Current Bond Indebtedness |
$320,046,137 |
| |
|
| Revenue Sources |
|
| Local (58.31%) |
$35,113,376 |
| State (41.69%) |
$25,107,807 |
| |
|
| General Fund Budget Expenditures |
|
| Instruction/Instructional Related |
71.8% |
| Administration |
4.5% |
| Debt Service |
0.4% |
| Plant Services/Utilities |
10.5% |
| TIRZ Contribution* |
12.0% |
| Tax Collection Costs |
0.8% |
| |
|
| * Offset by state funding |
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Purchasing
• Conflict of Interest Questionaire Form
• Tax Exempt Form
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2010 - Property of the Midlothian Independent School District.