Business Office » Business and Finance

Business and Finance

 
The Waxahachie ISD Business and Finance department is responsible for all financial transactions, from budgeting to paying the bills, for the District. We believe open and honest communication, or transparency, with our stakeholders to be one of the most important parts of our duties. Our mission is to allocate and use financial resources in the most efficient way possible to improve the quality of the education provided to our students.

We invite you to look around our webpages and if you have any questions, please contact us and we will answer them for you. We want our taxpayers, parents, and community to be informed about our operations and know that they value the quality of education being provided to our students as much as we do.

 

As of August 2016 Fitch Ratings assigned an AA- underlying rating with a stable outlook. Moody's Investors Service has also issued an Aa3 underlying rating.
 
Business and Finance Awards

Texas Comptroller Leadership Circle
The Texas Comptroller's office awards the efforts of local government entities to promote transparent practices through their Leadership Circle Award program. For the fifth year in a row, Waxahachie Independent School District has earned a Platinum award, the highest award available, for its continued practices of providing the citizens of WISD with an open window into the business of their school district.

FIRST Rating
Each year, the Texas Education Agency holds District’s accountable for their financial decisions through the Financial Integrity Rating System of Texas (FIRST) rating. The rating is designed to encourage Texas public schools to better manage their financial resources to provide the maximum allocation possible for direct instructional purposes. For more information on the FIRST rating, please visit our First Financial Integrity Rating webpage.
 
Business and Finance

Waxahachie ISD operates on a fiscal year calendar beginning September 1 through the subsequent August 31.

All transactions are recorded using the fund method of accounting. Waxahachie ISD uses three types of funds to account for all transactions – governmental funds, enterprise funds, and fiduciary funds.

Governmental funds are used to account for the resources of the District, from local revenue sources, state revenue sources, and federal revenue sources, for the basic daily operations of the District. The two most significant governmental funds used by the District are:
 
199 – General Fund – Records all resources, and uses of resources, not specifically required to be recorded in another fund. This fund provides resources for the daily operations (salaries, utilities, insurance, supplies, transportation, and administration) of the District.

511 – Debt Service Fund – Used to collect property taxes levied specifically to service the debt principal, interest, and fee obligations of the District.
 
Enterprise funds are used to account for resources that are used to operate activities without subsidy from the general fund. Enterprise funds have usage fees associated with the activity to offset the cost of providing the activity. The District currently has three enterprise type funds:
 
701 – Child Nutrition Program – Provides breakfast and lunch meals to all students every class day in conjunction with the School Breakfast Program and National School Lunch Program. Meal service charge is based on meal prices set by the Board of Trustees and Federal guidelines.

711 – Day Care Center – Open daily during the school year, the child care center serves staff and students of Waxahachie ISD. Monthly tuition is charged to cover the center’s operating costs.

720 – Lighthouse for Learning – Provides adult learning opportunities for the community members of Waxahachie. Topics vary each semester and tuition charged to participants covers the cost of the program.

Fiduciary Funds are funds that are held by the District for the benefit of outside parties. These funds are not legally District funds and the District does not have discretion regarding their use. There are two fiduciary funds that the District maintains:
 
829 – Private Purpose Trust Fund – These funds are held by the District to award scholarship funds as directed by the awarding committees associated with each scholarship. These funds are held by the District until the scholarships are awarded by the committees.

865 – Student activity funds – This account is used to account for the resources of various student groups within the District. Groups raise funds to be used at their discretion and the District simply is the custodian of these funds until they are approved for payment by the leadership of the club.
 
For additional information on fund types, or account structure requirements, please see the Financial Account System Resource Guide published by the Texas Education Agency.

For historical financial information on each fund, please refer to the Financial Audits page.

For current budget information on each budgeted fund, please see the Adopted Budgets page.

For additional financial information and disclosures, please refer to the Additional Transparency Information page.