2019-20 Financial Data
|Expenditures per Pupil||$8,914|
|Local Tax Rate Per $100 Valuation||$1.47|
|Maintenance & Operations (M&O)||$0.97|
|Debt Service (I&S)||$0.50|
|Current Bond Indebtedness||$356,066,373|
|District Facility Operations||15.9%|
|Property Tax Revenue||48.6%|
|TIRZ Tax Revenue||5.3%|
|Other Local Revenue||3.4%|
|State Program Revenue||41.3%|
|Federal Program Revenue||1.4%|
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.
- Current Debt Position & Preliminary Bond Capacity Analysis, March 7, 2016
- Debt Transparency Pledge
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.
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.