Money Matters
What is Money Matters?
Copperas Cove ISD has launched an effort to educate the community on the complex Texas public school finance system. In this effort, we will dive into where the money truly comes from, what restrictions are placed on it by the State of Texas, what it truly goes to and the challenges which naturally come with managing the finances that support more than 8,000 students and more than 1,400 staff members.
Where does the funding come from in Copperas Cove ISD?
CCISD receives funding from three primary sources in its general operating budget: Local property Taxes totaling approximately $15,887,929, Federal funding which totals approximately $950,000 and State funding which totals approximately $75,974,403.
How do School Taxes Function in Texas?
Texas public schools operate with two separate property tax rates which function separately and have laws which establish how that money is collected and what it can be spent on: Maintenance & Operations (M&O) and Interest & Sinking (I&S). M&O revenue is the first funding mechanism for the district's general operating budget, before receiving Federal funding and State funding. The general operating budget is what pays for staff salaries, utilities, instructional materials, general maintenance and other expenses which directly impact the district's everyday operations.
Any revenue generated through the I&S tax rate has to be voted on by the community and is for the repayment of bonds which were used for capital improvements. These capital improvements include facility renovations, new construction, technology infrastructure or school buses.
A more detailed explanation of the two Texas public school funding buckets is below.
How does the State of Texas oversee school district finances?
Texas public schools are legally required to get a third-party audit of its finances every year. This audit examines every dollar of revenue and expense, ensuring the district abides by not only Federal and Texas laws, but that it holds true to the budget approved by trustees for the fiscal year. The state requires the audit be presented to the Board of Trustees by a specified deadline, which depends on the fiscal year the district operates within. Once the audit is accepted by the board, it is then submitted to the Texas Education Agency for an additional review. All adopted budgets and external audits are legally required to be posted to the district website. CCISD's can be found on the Financial Transparency page, which is linked at the top of this page.
Additionally, the Texas Education Agency evaluates public schools in the state on financial integrity through the Financial Integrity Rating System of Texas (FIRST), which looks at 21 indicators and determines whether a school district follows the laws and guidelines set by TEA on revenue, spending and auditing with a maximum score of 100 points. That rating is then presented in a public hearing at a Board of Trustees meeting each fall. In Copperas Cove ISD, the district has received four consecutive perfect scores on FIRST and has never scored below a "Superior Rating," which is the financial equivalent to an "A" rating.