Annual Debt Reports

Mission CISD is dedicated to providing its community with transparent and accurate information about its borrowing activities and financial health. To achieve this, the District publishes annual local debt reports that provide detailed information about its outstanding debt, including general obligation bonds, borrowing purposes, and the debt term.

 

In addition to these key metrics, the annual local debt report also includes information on the District's bond ratings, which credit rating agencies assign based on its financial health and creditworthiness. A higher bond rating indicates that the District is considered a lower-risk borrower and can typically borrow at a lower interest rate.

 

The District participates in the Instructional Facilities Allotment (IFA) program, which funds debt service payments on qualifying bonds and lease-purchase agreements. To qualify for IFA funding, the District must levy sufficient taxes or designate excess maintenance and operations (M&O) or interest and sinking (I&S) tax collections from the 1999-2000 school year or later to cover the local share of the allotment. State aid under the IFA program provides a guaranteed yield of $35 per penny of tax effort per unweighted ADA. 

 

Through these annual local debt reports, Mission CISD aims to demonstrate its commitment to responsible financial management and maintaining a strong financial position that supports its educational mission and benefits its students and taxpayers.