Business
The mission of the Finance Office is to manage the school district's financial operations in the most trustworthy and transparent method possible. The Finance Office is responsible for the District’s fiscal operations including accounting and financial reporting, accounts payable, investments, purchasing, budgeting, internal controls, financial planning, debt management, and facilities management. Our ultimate goal is to provide support for all district employees, customers and stakeholders; ensuring that all financial operations support the district's instructional goals and objectives thereby providing our students with the best education possible.
Debt Management Strategies & Board Foresight Save Taxpayers Money
Midlothian Independent School District ("MISD" or the "District") has actively deployed various debt management practices to lower the borrowing costs of taxpayers. Such actions have reduced the cost of voter-approved bonds and provided MISD taxpayers with more than $121 million of direct savings since year 2010!
- $96,307,949 - Bond Refundings and Prepayment of Bonds
- $24,771,925 - Lower Interest Rates from Prudent Use of Variable Rate Bonds $121,079,874 - Total Savings to Taxpayers
Prudent Use of Variable Rate Bonds:
- Midlothian ISD has strategically incorporated variable rate bonds within its debt portfolio since year 2011 - lowering its borrowing cost by approximately $24.77 million in comparison to the sale of fixed rate bonds.
- The District's interest rate on its existing $45,685,000 Variable Rate Unlimited Tax Refunding Bonds, 2013-C is currently 1.50%.
