PISD Board approves Tax Report

Before the regular meeting began, Seth Phillips, speech and debate coach at Prosper High School, spoke to the Board and invited each of the members to serve as a VIP judge in the final round of the speech and debate tournament in the last week of October. He said it’s an opportunity to invest in the students and to see what speech and debate looks like on the high school level.

As the business meeting began, Dr. Drew Watkins, PISD superintendent, reported on current enrollment and said there are 12,056 students enrolled with 26 enrolling in just the past six days.

Then he provided an update on construction of new elementary schools No. 9 (Miramonte) and No. 8 (Light Farms) with pictures of the construction sites. “Still just dirt,” Watkins said as board members looked at the photos. But the photos show a grade-beam install and plumbing install at the Miramonte site as well as utility trenching and holes for the piers for the Light Farms site.

Then Rusty Craig, director of business services and financial management for the District, came to share the business reports. “We are going to sum up the year-end tonight with tentative balances in your investment summary,” he told the board members. “Just to give you an overall picture from the prior year in our investments account, TexPool will be increased from $29 million to $33 million during the year. Lone Star, which is our holder of our bond funds, went from $44 million to $105 million. Independent Bank, which is our depository here locally, went from $35.7 million to $34.6. Legacy Bank went from $10.0 million to $10.1 and Farmers Bank went from zero to $15 million. So the increase was $75.5 million during the year by those different categories of banks and investment accounts.”

Craig added that the general fund went from 62.5 to 76.5 million. Interest and Sinking fund went up from $3.5 million to $6.9 million. “The bond fund is where the biggest gain was because of our recent bond sale back in March. It increased from $61.8 million to a total of $109 million.”

He said the district went up a total of about $79.5 million in the year for investment funds.

Financial forms and reports presented during the business meeting are on line on the district’s website at www.prosper-isd.net.

In other business, the Board approved:

  • Financial/Investment/Tax report for August 2017;
  • Budget amendments;
  • Adoption of the tax rate for Maintenance and Operations (M&O) and Interest & Sinking (I&S) for the 2017-2018 school year;
  • Policy changes resulting from an extensive policy review conducted by the Texas Association of School Boards along with PISD leaders across the district;
  • Existing agreement for network cabling for one year as allowed in the initial agreement.

Important dates in the future:

October 9 — Columbus Day and State Fair Day (no school);

October 11— Homecoming Parade;

October 16 — Regular monthly meeting of the Prosper ISD.

Joyce Godwin | Joyce@CedarbrookMedia.com

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