en español
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In Mesquite ISD, our mission is to educate all students and empower them to expand their opportunities. Providing a quality education for our children has always been a priority in our community. As Mesquite ISD’s enrollment continues to grow, as facilities age and as technology advances, the district’s funding challenges are outpacing available revenues. To address these challenges, the Board of Trustees has called a Bond Election for May 12, 2007. If approved by voters, the 2007 Bond Package will impact every student in Mesquite ISD. |
What is a
school bond?
A bond is nothing more than a contract to repay borrowed money on a given date and to pay interest at a given rate, similar to a home mortgage. This type of long-term financing allows the district to pay for large costs related to facilities and other capital improvements that cannot be funded through the Maintenance and Operations side of the district’s budget.
What are “capital improvements?”
Capital improvements are large purchases expected to have long-term use, such as new schools, renovations, furniture, equipment, school buses, technology infrastructure and school sites.
What challenges led to the calling of this 2007 bond election?
Mesquite ISD’s student population has increased by an average of about 600 students each year for the past decade, and our community is still growing. The current number of schools and classrooms in Mesquite ISD cannot accommodate the growth we are expecting to occur over the next few years. In addition, many of our older campuses, which were originally constructed in the ‘60s and ‘70s, are in need of renovation. Instructional technology is advancing at an astounding rate. Providing the technological tools that are critical to our students’ education is a major focus for the district and will require additional funds over the next five years.
How was the amount of the bond package determined?
Last fall, the MISD Board of Trustees appointed a Bond Steering Committee to examine the district’s needs and make a recommendation. This committee, made up of parents, community members and school district employees, was asked to review the planning data gathered by the district; the history of prior bond programs; the uses of funds generated by the 2003 bond program; and the district’s current financial condition, assessed values and state funding for facilities. The committee then reached consensus that $180 million was an appropriate amount to recommend to the Board of Trustees.
How well does Mesquite ISD manage its finances?
Two of the top financial rating agencies—Standard & Poor’s and Fitch—praise Mesquite ISD for its financial stability and exceptional fiscal planning. Both agencies give Mesquite ISD a rating of “AA,” one of the best ratings of any district in Texas. This excellent rating is much like an individual’s credit score and allows the district to receive lower interest rates for its bond payments, which in turn saves money for taxpayers.
In addition, the district earned a “Superior” rating for the past four years on the state’s financial accountability rating system.
How far into
the future
will this bond
package support
the district?
The 2007 bond package is designed to fund Mesquite ISD’s capital improvements for the next five years.
How has the district maximized bond funds in the past?
Thanks to provisions from the Texas Legislature in past years, Mesquite ISD has received state funds to use for facility improvements. By having bonds already approved by the voters, the district received additional state funding known as “facilities allotments,” which allowed the district to stretch its bond dollars even further. Although this type of state funding has been available in the past, the district has no way of knowing whether facilities allotments will be available in the future, when new bonds are issued.
Can bond funds be used to hire more teachers or improve teacher salaries?
No. Salaries must be paid out of the Maintenance & Operations side of the district’s budget; bonds impact the Interest & Sinking side of the budget. Money generated by bond sales may only be used to pay for capital expenses, such as facility and technology upgrades, construction/renovation projects and other large purchases expected to be utilized over a period of several years.
How does this Bond Program affect me if I do not have children in school?
Public schools are a vital part of any community. Today’s students will be tomorrow’s workforce, leaders and citizens. Providing and maintaining educational excellence builds a more vibrant community where people want to live and businesses want to operate.
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