The Socorro ISD Bond Accountability Committee (BAC) is to ensure and promote communication and accountability surrounding all elements within Bond 2017. The BAC is an independent citizens' committee that will report to the Board of Trustees and the general public. The BAC will be comprised of no more than 14 members selected via an open application process; representing parents, teachers, senior citizens, employee associations, the business community and elected officials. Two members will be appointed by each Trustee upon review of written applications. Appointments will be for a two-year term. Terms may be extended for additional two year terms upon approval by the appointed Trustee. Term extensions and new appointments will be made by the respective Trustee at the time of the action.

Committee Members:

• Adrian Hernandez

• Amanda Gonzalez

• Craig Patton

• David Gamez

• James Kotter

• Jennifer E. Campbell

• Jose L. Reyes

• MaryAnn Paez

• Richard Renteria

• Robert Alvarez

• Tomas Sigala, Jr.

• Veronica Garcia

• William E. Castorena II

All meetings of the BAC will be open to the public, and summaries of discussions along with copies of materials will be posted on the BAC Communications page. The first meeting of the BAC is scheduled for Thursday, March 15, 2018 at 6 p.m. in the SISD District Service Center, 12440 Rojas Dr.

BAC Charter

Superintendent's Parent/Student Advisory Council Meeting Bond 2017 Update

Team SISD has earned consistent recognitions for its fiscal responsibility and financial transparency. SISD recently was named as one of only three districts across the state to earn three Transparency Stars from the Texas Comptroller of Public Accounts program, which recognizes local governments for going above and beyond in their financial transparency efforts. The district has also earned the highest possible rating for seven consecutive years in the School Financial Integrity Rating System of Texas, and the 2016 Texas Association of School Business Officials Award of Merit for Purchasing & Operations for maintaining professional standards in the acquisition of goods and services.

Bond 2011: Promises Made, Promises Kept

In 2011 voters approved a $297.4 million bond program. Staying true to commitment of Promises Made, Promises Kept, the district completed all projects outlined in Bond 2011 on time and under budget. Due to great management and a positive construction market, the district realized $37.4 million in savings which allowed for the modernization of four additional schools and one new elementary school to be added without having to further burden taxpayers.

Bond Rating

The District's Bond ratings impact its ability to issue bonds and the interest rate paid for the debt. Through its history of financial accountability and efficiency, SISD enjoys high ratings from national rating firms. The Fitch Rating Agency reaffirmed strong bond ratings for SISD maintaining its underlying financial rating of AA. Factors that support the AA rating include the district’s above average revenue growth, revenue raising capacity, strong gap-closing capacity and low fixed costs. Moody’s Investors Service assigned SISD an Aa2 underlying bond rating based on a stable financial outlook and an Aaa enhanced rating based on a guarantee from the Texas Permanent School Fund. Moody’s cited the district's robust financial position, large and growing tax base, and manageable pension burden.

SISD Tax Rate

A review of the district’s tax rate history highlights the fact that the district has maintained the same tax rate for six consecutive years. A comparison of tax rates amongst area school districts, shows SISD has the lowest rate of the major school districts in the region. At $1.27 per $100 valuation, SISD’s total tax rate is 14 cents lower than EPISD (when the district sells all of its voter- approved bonds) and 19 cents lower than YISD.

Specifically, SISD’s tax rate includes the lowest maintenance and operations rate in the region. While the district can raise its M & O rate to $1.04 without voter approval, the SISD Board of Trustees has kept the rate well below, demonstrating the team’s commitment to collect only what is necessary from taxpayers to fulfill the district’s priority of providing the highest quality education for all students.

SISD Tax Rate History

The total school tax is made up of two district parts:

• The Maintenance & Operations Tax, commonly referred to as the M & O tax rate, pays for the daily operations of the district.

• The Interest & Sinking Tax, commonly called the I & S rate, pays off debts like bonds.

These two assessments together make up the total school tax.

Tax Rate Comparison

* When EPISD sells all of its voter-approved bonds

Bond 2017 Tax Impact - $448.5 million

*Per $100 Valuation
** With a home of a taxable valuation of $100,000