Midland ISD believes in providing our taxpayers with clear and relevant financial information. As part of MISD’s efforts to increase the level of transparency and engagement, the District is committed to providing essential financial information and data on District revenues, expenditures, tax rates, cost drivers, and comparative data. We are committed to providing this financial information in a format that is transparent, easily accessible, and understandable.
Organization Rating S&P Global AAA Moody’s Investors Service, Inc Aa2
Investment Grade Bonds
Moody's S&P Meaning Aaa AAA Bonds of the highest quality that offer the lowest degree of investment risk. Issuers are considered extremely stable and dependable. Aa1, Aa2, Aa3 AA+, AA, AA- Bonds of high-quality by all standards, but carry a slightly greater degree of long-term investment risk. A1, A2, A3 A+, A, A- Bonds with many positive investment qualities. Baa1, Baa2, Baa3 BBB+, BBB, BBB- Bonds of medium-grade quality. Security currently appears sufficient, but may be unreliable over the long term.
Annual Financial Reports (AFR)
Each year, a school district must prepare its annual financial statements, have them audited by a licensed independent CPS firm, and submit the resulting audited annual financial and compliance report to the Texas Education Agency for review. The Annual Financial Report is due no later than 150 days after the close of a district’s fiscal year. Midland ISD’s fiscal year ends on June 30 and our AFR is due to TEA on or before November 27 of each year.
The District is committed to providing an AFR that goes beyond the minimum requirements of generally accepted accounting principles to provide a high quality document that is readily accessible and easily understandable to the general public and interested parties. Transparency and fiscal accountability are critical in today’s dynamic educational environment and the District strives to reach the highest standard in financial reporting.
- Official FYE 2018 Audit
- Official FYE 2017 Audit
- Official FYE 2016 Audit
- Official FYE 2015 Audit
- Official FYE 2014 Audit
- Official FYE 2013 Audit
- Official FYE 2012 Audit
- Official FYE 2011 Audit
The annual budget reflects the allocation of revenues and expenditures to support the District’s educational programs and services. Each school district in Texas is required by law to prepare an annual budget for the General Fund, the Debt Service Fund, and the Food Services Fund. As part of the District’s efforts to increase the level of transparency and engagement in the budgeting process, we are committed to providing essential financial information and data on the District’s revenues, expenditures, tax rates, cost drives and comparative data with other school districts.
- Proposed 2019-20 Budget
- Approved 2018-19 Budget
- Proposed 2018-19 Budget
- Approved 2017-18 Budget
- Proposed 2017-18 Budget
- Approved 2016-17 Budget
- Approved 2015-16 Budget
- Approved 2014-15 Budget
- Proposed 2014-15 Budget
Midland ISD Public Hearing - Budget & Tax Rate
Financial Integrity Rating System of Texas (FIRST)
The state’s school financial accountability rating system, known as the School Financial Integrity Rating System of Texas (FIRST), ensures that Texas public schools are held accountable for the quality of their financial management practices and that they improve those practices. The system is designed to encourage Texas public schools to better manage their financial resources to provide the maximum allocation possible for direct instructional purposes.
Monthly Expenditures Report
In an effort to provide transparency, the District provides current disbursement reports for the working fiscal year as well as a complete 12 month report for three prior fiscal years. These reports include the check date, payee, and check amount for each disbursement.
- 2015-2016 Debt Transparency Report
- 2016-2017 Debt Transparency Report
- 2017-2018 Debt Transparency Report
- S&P Global
- Moody's Investors Service