Financial transparency and accountability are critical components in managing taxpayer resources. Humble Independent School District is committed to serving the public by establishing an online resource of meaningful financial information that is both easily accessible and understandable. This webpage is constructed to provide facts on our revenues, expenditures, tax rates, cost drivers, and comparative data. The Humble Independent School District’s Financial Transparency site meets the recommendations set forth by the Texas Comptroller’s Office Transparency Stars for Local Governments.
The following summary data is from the Governmental Fund Statements in the District’s Comprehensive Annual Financial Report (CAFR) for the most recently audited fiscal year ended June 30, 2016. Governmental Funds include the General Fund (the District’s primary operating fund), Special Revenues Funds (various federal, state, and local grants and sources), Debt Service Fund (payment of bond interest and principal), and Capital Projects Funds (expenditures from bond proceeds and other capital projects).Click on image for a larger file.
The budget reflects the allocation of revenues and expenditures to support the educational programs and services. Each school district in Texas is required by law to prepare annually a budget for the General Fund, the Debt Service Fund, and the Food Service Program. The following budget documents are the original budgets adopted by the Board of Trustees. The Accounting Department performs budget reviews during the year in which budget requirements are reevaluated and revisions are recommended to the Board. Therefore, the budget amendments are not included in the original budget documents.
Financial Reporting & AccountingEvery fiscal year Humble ISD compiles a set of documents in accordance with the accounting requirements promulgated by the Governmental Accounting Standards Board (GASB). GASB provides the standards for the content of the report called Comprehensive Annual Financial Report (CAFR). The CAFR is compiled by the Humble ISD staff and audited by an external American Institute of Certified Public Accountants (AICPA) certified accounting fund utilizing GASB requirements.
Taxation InformationHumble ISD collects its own school taxes. The Tax Office prepares monthly collection reports which are presented to the Humble Board of Trustees. The current tax rate is $1.17 for Maintenance & Operations (M&O) and $.35 for Interest & Sinking (I&S for debt services) for a total rate of $1.52 per $100 property value. Questions pertaining to the information in these reports should be directed to Janice Himpele, Tax Assessor and Collector.
Debt InformationTexas school districts' debt take the form of bonds. School districts use bonds to pay for big ticket items such as facilities due to increased student enrollment, repairs/renovation of aging buildings, and/or evolving needs due to changing expectations . A bond is a debt investment in which an investor loans money to a school district, with interest, for a defined period of time. The repayment of the bonds are usually structured to match the life of the asset financed.School districts are required by law to ask their local voters for permission to sell bonds. A school board calls a bond election, and voters decide whether or not they want to issue bonds (debt) for the identified needs. If the voters approve the bond election, the school district then may raise the I&S tax rate to repay the debt to the investors.Questions pertaining to the information in this reports should be directed to Mike Seale, Chief Financial Officer.
Financial Awards & AccomplishmentsThe District has been recognized by state, national and international organizations for its careful and responsible management of District resources. Following are some of the acknowledgements:
ASBO Certificate of Excellence in Financial Reporting Award
1986 - 2016
2016-2017GFOA Certificate of Achievement for Excellence in Financial Reporting Award
Financial Integrity Rating System of Texas (FIRST)
2009-2010 - Superior Achievement
2010-2011 - Superior Achievement
2011-2012 - Superior Achievement2012-2013 - Superior Achievement2013-2014 - Highest Rating2014-2015 - Superior Achievement2015-2016 - Superior Achievement