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Financial Transparency & Accountability

Annual Financial and Compliance Report

These independent audit reports are done each fiscal year to ensure the financial statements of the district are free from material misstatement. Additionally, they provide information concerning the financial condition of the District to the Board of Trustees, community members, representatives of financial institutions, rating agencies and other interested parties.

School District FIRST Ratings (Financial Integrity Rating System of Texas)

The state's school financial accountability rating system, known as the School Financial Integrity Rating System of Texas (FIRST), ensures that Carrizo Springs CISD, as well as other public schools are held accountable for the quality of their financial management practices. 

Financial Transparency & Accountability

The mission of the Business Office is to ensure that the District's financial resources are effectively and efficiently managed to provide the necessary resources to achieve the instructional goals and objectives of the District. Carrizo Springs CISD is committed to providing taxpayers and community members with transparent and easy-to-understand sources of financial information. The information found on this page is intended to provide useful information as it relates to Carrizo Springs CISD's financial operations.

 

Debt Obligations

Government entities such as school districts issue bonds to finance major capital expenditures. These include the construction and equipping of school buildings and other district facilities, building additions, renovations, improvements, etc. Bonds authorized by voters by a majority vote in a bond election are issued by the district based on financing needs for the projects. School districts use the issuance of bonds to finance facilities in the same manner a homeowner uses a mortgage to finance a home. The Debt Service/ Interest & Sinking (I&S) Fund is used to repay the principal and interest of bonded debt over time.   The school district tax rate is made up of two parts, maintenance and operations (M&O) and debt service/interest & sinking (I&S).  The revenue from the M&O portion of the tax rate is used to fund day-to-day district operations such as payroll expenses, utilities, and building maintenance. The I&S portion of the tax rate is set each year to generate tax revenue sufficient to meet the debt payments for the year. The links below provide information about Carrizo Springs CISD bonds and debt obligations.