Financial Transparency

Midland ISD constantly seeks to practice financial transparency. The information is in accordance with the Texas Comptroller’s Transparency Star Program criteria for local governments. The Transparency Stars program recognizes local government entities that go above and beyond in their transparency efforts.

The following summary data is from the Governmental Funds Statements in the District's Audited Financial Statements for the fiscal year ended in June 30th, 2024. Governmental Funds include the District's primary operating fund, i.e. General Fund, Special Revenue Fund for various grants, Debt Service Fund for the payment of interest and principal on all bonds, and Capital Projects Fund to account for the expenditures of bond proceeds.  

• ANNUAL FINANCIAL REPORTS

   

  Each year, a school district must prepare its annual financial statements, have them audited by a licensed independent CPA 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 30th and our AFR is due to TEA on or before November 27th 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.