TELLING THE FINANCIAL STORY OF GCISD
What if you were offered an investment opportunity that would yield almost $50 for every $1 invested? That’s exactly how M. Ray Perryman, noted economist of The Perryman Group sees the value of public education in Texas, citing that the long-term return per dollar of incremental state investment in education is $49.69 in additional spending throughout the economy. In his article, Perryman also notes that the future prosperity, both for individuals and for society, depends on education.
Grapevine-Colleyville ISD also sees the value of public education through investing in current and future students. In fact, in May 2016, community members made an investment in the future by passing a bond election that will impact every student and every teacher in this district. Voters approved a 12.81 increase in the Interest & Sinking (I&S) tax rate. As a result of a secured lower interest rate and an increase in property values, the actual I&S tax increase for these bonds will be 7.66 cents, which is 5.15 cents less than approved. By securing a 2.8 percent interest rate, projections show that over the 25-year repayment period, GCISD taxpayers will pay $84.9 million less in interest costs than what was originally projected for the 2016 bond program. For more information on "Telling the Financial Story of GCISD, click here.
A punishing decade for School Finance: Public investment in K-12 schools — crucial for communities to thrive and the U.S. economy to offer broad opportunity — has declined dramatically in a number of states over the last decade. Worse, some of the deepest-cutting states have also cut income tax rates, weakening their main revenue source for supporting schools. For more information on "A Punishing Decade for School Funding," click here.
Tale of 2 Buckets: Two buckets that hold all the money to build and operate a school system like GCISD. One bucket is called Maintenance and Operation. It's used to pay for the day-to-day expenses of the schools and facilities. The second bucket is interest and sinking, also known as debt service.
How a Dollar Spends a Day: In Grapevine-Colleyville ISD, your dollar goes a long way, and we make every penny count. A school district is a big operation. It's like a small city, and there are lots of expenses that add up.
ANNUAL FINANCIAL INTEGRITY RATING SYSTEM OF TEXAS (FIRST) ACCOUNTABILITY AND MANAGEMENT REPORT: Click here to view the document.
COMPREHENSIVE ANNUAL FINANCIAL REPORTS: To view the reports, click here.
BUDGET DOCUMENTS: To view the documents, click here.