information for the community

Understanding NEISD Finances

On this page you will find:

Annual Budgets

Annual Tax Rates

Comprehensive Annual Financial Reports (CAFRs)

Financial Integrity Rating System of Texas (Schools FIRST) reports

Investment reports

Check Register

Administrative Costs

School Finance 101

IRMA Representation Letter


2014-2015 Adopted Budget

The Texas Education Code (TEC), Chapter 44, governs the process for Texas school district budget preparation and adoption. The Board of Trustees must adopt annually a budget for the General, Debt Service, and School Nutrition Services funds. To comply with the TEC, districts must produce and publish certain reports related to the proposed and adopted budget each year.

2014-15 Adopted Budget

2014-15 Budget Presentation

Notice of Public Meeting

Summary Of Proposed Budget

Historical adopted budgets can be found at www.neisd.net/fina/reports.html.

 

2014-2015 Property Taxes

The total tax levy for the North East Independent School District is comprised of two different rates:

  • The Maintenance & Operations (M&O) tax which is used to fund the daily operations of the District

  • The Interest & Sinking (I&S), or Debt Service, tax which is used to fund the principal and interest payments on the District’s outstanding voter-approved bonds

The tax rates set for a school district represent the taxes levied per $100 of taxable property value, as determined by the Bexar County Appraisal District.  Assessment and collection of the property tax is administered by the Bexar County Tax Assessor-Collector.  Taxable property value is the assessed value of the property less all qualifying exemptions.  In addition, the taxes of a homestead of a person 65 years of age or older (or the surviving spouse 55 years or older) may not be increased above the amount paid in the first year the person turned 65, regardless of changes in tax rate or taxable value.

For 2014-2015, approximately 62% of NEISD’s General Fund’s budgeted revenue comes from the levy of M&O taxes, and nearly all (98%) of the Debt Service Fund’s revenue is from I&S taxes.

2014-2015 Tax Rates:

                M&O     $1.0400

                I&S         0.4006

                Total     $1.4406

The average home taxable value in NEISD is approximately $176,200.  An example of the total school district taxes are calculated as follows:

EXAMPLE

Taxable Value

Value divided by 100

Tax Rate

(Rate x Value / 100) =

Taxes Levied

M&O

$176,200

$1,762

$1.0400

$1,832

I&S

$176,200

$1,762

$0.4006

$ 706

Total

$176,200

$1,762

$1.4406

$2,538

 

Disclosures required by Section 26.05 of the Texas Tax Code:

NORTH EAST ISD ADOPTED A TAX RATE THAT WILL RAISE MORE TAXES FOR MAINTENANCE AND OPERATIONS THAN LAST YEAR'S TAX RATE.

 

THE TAX RATE WILL EFFECTIVELY BE RAISED BY 0.13 PERCENT AND WILL RAISE TAXES FOR MAINTENANCE AND OPERATIONS ON A $100,000 HOME BY APPROXIMATELY $0.00.

 

Comprehensive Annual Financial Report

The Comprehensive Annual Financial Report (CAFR) is the annual financial statement for North East Independent School District. It is prepared to provide the Board of Trustees, taxpayers, bondholders, regulatory agencies, and District staff members with useful information about the District’s operations and financial position. The District’s financial statements are audited annually and the independent auditor’s report is included in the CAFR. Not only does the CAFR provide a snapshot of the District’s financial data for the prior year, the statistical section presents trend information over the past ten years that provides insight into how the District’s financial position has changed over time. North East Independent School District has received the Government Financial Officers Association (GFOA) Certificate of Achievement for Excellence award in Financial Reporting for 26 consecutive years. Click here to view the June 30, 2013 -- CAFR

Historical CAFRs can be found at www.neisd.net/fina/reports.html.

 

Financial Integrity Rating System of Texas (Schools FIRST)

The Schools FIRST rating system was implemented in 1999 by the Texas Education Agency. The primary goal of Schools FIRST is to achieve quality performance in the management of school districts’ financial resources, a goal made more significant due to the complexity of accounting associated with Texas’ school finance system. The Schools FIRST accountability rating system assigns one of four financial accountability ratings to Texas school districts, with the highest being “Superior Achievement,” followed by “Above-Standard Achievement,” “Standard Achievement,” and “Substandard Achievement.” North East Independent School District has received a rating of “Superior Achievement” in each of the 11 years since Schools FIRST has been implemented. Ratings issued in 2013 are based on financial, student, and staff data submitted for the 2011-2012 fiscal year.  Click here to view the 2011-2012 Schools FIRST report Schools FIRST

Historical FIRST reports can be found at www.neisd.net/fina/reports.html.

 

Investments

NEISD Treasury staff work diligently to ensure the District maximizes the use of every taxpayer dollar. All funds received by the District are invested in accordance with the Texas Public Funds Investment Act, Texas Government Code Chapter 2256. The results of the District’s investment portfolio are reported to the Board of Trustees quarterly, and a Comprehensive Annual Investment Report is approved by the Board. The Annual Investment Report contains information on the District’s investment activity during fiscal year 2010-2011. Click here to view the 2011-2012 reportInvestment Report

Historical Investment Reports can be found at www.neisd.net/fina/reports.html.

The District's IRMA representation letter can be found here.

 

Check Register

NEISD posts its check register to the District Web site to increase the transparency of its expenditure of public funds. This register includes all checks, other than employee paychecks and workers’ compensation reimbursements, issued by the District. Click here to access the District’s check registers – Check Registers

 

 

Administrative Costs

The official standard used by the Texas Education Agency (TEA) for Schools FIRST calculates Administrative Cost Ratio by dividing Administrative Costs (Instructional Leadership plus General Administration) by Instructional Costs (Instruction and Instructional Services plus Guidance and Counseling).    TEA sets standards for districts based on the district’s enrollment.  You can review NEISD’s administrative cost ratio for each of the last five years and the budgeted rate for 2012-2013 in the following - NEISD Administrative Costs Report

 

 

School Finance 101: Funding of Texas Public Schools

The Texas Education Agency Office of School Finance has created a document "School Finance 101: Funding of Texas Public Schools" to provide a general overview of the funding received by Texas public schools. You can view this publication at http://www.tea.state.tx.us/index4.aspx?id=7022&menu_id=645&menu_id2=789