Financial Dashboard:
How to read the dashboard:
The initial financial tracker landing page shows the bond budgets by project packages. On the right-hand side, there are filters that can be clicked to dive deeper into specific projects located at different campuses and different packages.
The second page breaks down bond budgets by campus. The green represents the dollar amount assigned to the projects at the campus, and the blue represents projects that have yet to be started. The filters on the right allow the user to drill down campus by campus.
Page three shows the current assigned amounts for each campus based on the appropriate packages
Page four breaks down the scope of work at each campus and the total dollar amount assigned for each category.
The last page in the dashboard shows the percentage completed for each bond expenditure by campus. As projects near completion, the percentage completed will continue to rise while the percentage remaining will continue to decrease until all projects outlined in the bond program are completed.
Finance Discussion:
No. The district will only issue bonds to cover the cost of projects at the time they are needed and approved by the School Board.
From school bonds.
- Likened to a home mortgage, a voter-approved school bond allows a school district to borrow funds. The Board of Trustees authorizes bond elections, and Texas law grants the Board the authority to sell bonds.
- Prior to any bond vote, a volunteer citizen committee is usually created to develop a bond package for presentation to the Board of Trustees. The Board approves the bond package – the specific uses of bond monies and the estimated costs for each project included in the bond.
- After voter approval, the school district can sell bonds to investors who are repaid their principal plus interest. Payout is limited by law to 40 years. The district sells bonds that mature at different times, so bond expenditures for items with a shorter lifespan are paid off before the purchase becomes obsolete. This also allows the district to capture the lowest interest rates available.
- Importantly, bonds do not cost the district anything until they are sold. A district receives a higher rating due to the guarantee by the Texas Permanent School fund, having a strong fund balance, and maintaining a record of financial management excellence. Of course, market conditions will affect the actual interest rates, which may be higher or lower than the original estimates.
A school district’s tax rate consists of two parts:
Maintenance and Operations (M&O) which funds the General Operating Fund, which pays for salaries, supplies, utilities, insurance, equipment, and the other costs of day-to-day operations; and
Debt Service (Interest & Sinking or I&S) can be used for a variety of special purposes, assuming voter approval. For example, they may finance facility construction and renovation projects, acquire land, or purchase capital equipment, such as technology, and transportation, such as buses.