Midlothian Independent School District

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2023-24 Financial Data

2023-24 General Fund Budget
 Budgeted Expenditures  $127,014,606
 Expenditures per Pupil $12,584
 Local Tax Rate Per $100 Valuation $1.1092
 Maintenance & Operations (M&O) $0.6692
 Debt Service (I&S) $0.4400
 Current Bond Indebtedness $394,205,000

2023-24 General Fund Expenditures

Instruction/Instructional Support   63.46%
Central Administration  3.20%
District Facility Operations  16.44%
TIRZ Contribution* 16.14%

Tax Collection Costs

0.76%

2023-24 All Funds Expenditure Budget

 Instruction 35.31%
Instructional Support 9.75%
 Central Administration   2.27% 
 District Operations  14.27%
 Debt Service  26.39%
 Other Functions

 12.00% 

2023-24 General Fund Revenue Budget

 Property Tax Revenue  54.7%
 TIRZ Tax Revenue   8.2%
 Other Local Revenue   4.7%
 State Program Revenue   30.7%
 Federal Program Revenue     1.7% 

Debt Service (November 2023)

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.

Debt Service Payment Analysis

  • Current Debt Position & Preliminary Bond Capacity Analysis, March 7, 2016
  • Debt Transparency Pledge 

Food Service (November 2023)

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 $4 million program.
 

General Fund (November 2023)

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.