The improvements to Gatesville Junior High and the Hornet Field House can be completed through a bond with NO TAX RATE INCREASE.

This is possible due to GISD’s conservative fiscal management, including early payoff of existing debt.

Financial Stewardship of Current Funding:

Gatesville ISD Tax Rate History

Gatesville ISD’s tax rate is at a historic 20-year low.

GISD’s funding is made of two tax rates:

  • Maintenance & Operations (M&O) Tax Rate

    $0.6969

    The M&O tax rate funds day-to-day operations and expenses like staff salaries, utilities, supplies, repairs and fuel.

  • Interest & Sinking (I&S) Tax Rate

    $0.20

    The I&S rate funds principal and interest payments on debt for new construction, renovations, land, and other capital improvements.

  • Total Tax Rate

    $0.8969 (per $100 valuation)

    The homeowner's tax statement will show this total tax rate.

Financial Accomplishments

GISD is among the 40% of Texas school districts without a deficit budget.

  • GISD has always operated with a balanced budget.

Superior FIRST Rating

  • GISD received a perfect score (100).

  • GISD has received the highest rating for financial integrity since the inception of the rating system.

  • The School Financial Integrity Rating System ensures that schools are held accountable for the quality of their financial management practices.

Taking Care of What We Have

  • GISD plans to address the 60-year old junior high building through a bond.

  • The same was done with the high school built in the 1950s.

Budget Priorities

74% of the budget is used for staff salary and benefits.

GISD was able to give staff a 3% raise on top of maintaining a balanced budget.

GISD offers staff a zero cost insurance option.

Fiscal Responsibility of Debt

Second Lowest Debt Among Peer Districts

$500K

GISD pays $500K extra in principal annually to pay off bonds early

  • Gatesville ISD prioritizes short bonds (15-20 years) and early retired debt defeasance

  • Will be done paying off 2014, 2020, 2021 bonds ($18,336,104) to be paid off in 2035

Moody's Credit Rating

Strong investment grade reflecting high levels of credit worthiness and low risk of debt default

Third party annual audits all clean with no findings

No Debt for Technology or Buses

Technology and buses are purchased from regular budget (no debt, no interest).