Check Registers

2021–22 Monthly Check Registers

Check Registers by Fiscal Year

Debt Management

The following information is prepared for Leander ISD taxpayers to provide transparent information regarding the District’s debt obligations.

2021-2022 Tax Rates

  • M&O Tax Rate: $0.8720 per $100 of taxable value
  • I&S Tax Rate: $0.4650 per $100 of taxable value
  • Total Combined Tax Rate: $1.3370 per $100 taxable value

2020-2021 Tax Rates

  • M&O Tax Rate:  $0.9534 per $100 of taxable value
  • I&S Tax Rate:  $0.4650 per $100 of taxable value
  • Total Combined Tax Rate:  $1.4184 per $100 taxable value

Current Credit Rating

AGENCYPSF RATINGSCHOOL ISSUERS CREDITUPDATED
FitchAAAAASeptember 9, 2021
Standard and Poor’sAAAAAMay 7, 2021

Fitch Ratings Upgrade – September 2021

S&P Global Rates – June 2021

Authorized General Obligation Bonds – (As of 6/30/21)

Authorized General Obligation Bonds

Historical Tax Rates

Historical Tax Rates

Leander ISD Tax-Supported Debt – 5 Year History

Leander ISD Tax-Supported Debt
Total tax-supported general obligation bond debt outstanding as of June 30, 2021:  $1,115,580,085
All bonds authorized to date have been for the purpose of constructing, renovating, and equipping school facilities.

*  The district changed its fiscal year end in 2020.  Due to switching to a June 30 year end, the district’s outstanding debt was unchanged from 8/31/2019 as principal payments were not recorded in fiscal year end 6/30/2020.

Debt Obligation by Fiscal Year – (Principal & Interest as of 6/30/21)

Debt Obligation by Fiscal Year Graph
Debt Obligation by Fiscal Year Table

Debt Obligation by Series

Debt Obligation by Series

Debt Obligation by Series and Fiscal Year

Debt Obligation by Series and Fiscal Year Graph
Debt Obligation by Series and Fiscal Year Table 2003-2015B
Debt Obligation by Series and Fiscal Year Table 2015A-2018A
Debt Obligation by Series and Fiscal Year Table 2019A - 2020B
Debt Obligation by Series and Fiscal Year Table 2020C-2021B

Debt Profile Transformation

Debt Profile Transformation
Capital Appreciation Bond (CAB) – CABs are an alternative debt instrument that do not require regular installments.  Instead, at the time debt is issued and principal is borrowed, interest and principal payments are deferred until final maturity of the CAB.

Current Interest Bond (CIB) – CIBs are debt instruments that require annual installments back to investors.

Debt Portfolio Update Progress Report – June 2021

Debt Profile Transformation

Debt Profile Transformation
In 2014, the percentage of CAB debt due for the  Calendar Year End (CYE) 2022 was 81% and increased to 100% in 2049.
In 2021, the percentage of CAB debt due for the  Calendar Year End (CYE) 2022 is 35% and decreases to 0% in 2045.

Other Sources for Information

Disclosure

Policies and Procedures

Public Finance Team

Statistics, Ratings, and Presentations

Public Comments on Proposed Rulemaking

The Texas Education Agency (TEA) has requested that we publish these links to encourage boards of trustees/governing boards, administrators, teachers, and parents to participate in the process for adopting rules that affect public education in Texas. It will also assist in complying with the requirements of Texas Education Code (TEC), §39.001, which requires the commissioner of education to solicit input from stakeholders who may be affected by proposed rules adopted under TEC, Chapter 39, Public School System Accountability.

The links are as follows:

Tax Rates

Current Tax Rate

There are two components to the 2021 total property tax rate of $1.3370.

The first component of the total tax rate is the Maintenance & Operations (M&O) rate of $0.8720. The tax collections from this part of the tax rate provide revenues to fund the District’s daily operating costs such as payroll for teachers and staff, supplies, transportation, and utilities.

The second component is the Interest & Sinking (I&S) rate of $0.4650. These tax collections provide the funds necessary to pay the interest and principal on outstanding bonds issued by the District over the years.  Per State law, these tax collections can only be used for the retirement of debt. 

The funds that result from the issuance of bonds are referred to as bond or capital project funds and can only be used to build and maintain district facilities and to fund other capital improvements and equipment, such as technology and buses. It is important to note that these funds cannot be used on teacher salaries.  Once construction and/or projects are completed, any funds that remain from the issuance of bonds can be used for new projects allowable under the bond orders or the retirement of debt.  The Board must approve the use of remaining bond funds.

LISD has lowered its total tax rate for the last four years.  Below are links to the calculation worksheets for the 2021 No-New-Revenue and Voter-Approval rates developed throughout the tax rate adoption process.

Adopting a Budget & Tax Rate

Local officials in cities, counties, school districts, and special purpose districts (such as hospitals, junior colleges, or water districts) adopt tax rates on an annual basis that are applied to the appraised values of all nonexempt property in the state. Each taxing unit must determine the level of revenue required to cover operations and pay for voter approved bonds.

The taxing entity’s No-New-Revenue (NNR) rate is established based on the tax rate required to generate the same amount of revenue in the previous year on properties taxed in both years; therefore, if property values increase, the NNR tax rate will decrease, or if property values decline, the NNR tax rate will rise. The actual tax rate is determined by the budget that is adopted by the governing body of the taxing entity.

In a Robin Hood district, it is important to note another term: the “Rate to Maintain.” The school district’s Rate to Maintain tax rate is established based on the tax rate required to generate the same amount of tax and state revenues (this includes additional revenues needed to make Robin Hood payment to the State) in the previous year on properties taxed in both years. The Rate to Maintain and the Proposed Rate are published each year prior to the budget and tax rate adoption.

Tax Rate

School districts and cities fall under different laws when it comes to adopting a tax rate. Cities have flexibility in setting their tax rate, whereas a school district’s M&O tax rate is capped by the state legislation that the Governor signed into law in June 2019.  This law requires school districts to lower their M&O tax rates based on property value growth each year.

The M&O tax rate is broken up into two tiers and HB 3 made changes to the calculations of both tiers. The Tier 1 tax rate is based on the growth or decline in local and statewide property values. This tax rate is calculated by the State and not by LISD. Based on a 16.04% increase in property growth for 2021, LISD’s 2021 M&O Tier 1 tax rate decreased from $0.9134 cents to $0.8220 cents. The Tier 2 tax rate was capped at $0.04 cents in 2019. The State gave some flexibility to increase this rate by $0.01 cent in 2020. The Tier 2 tax rate contains what are considered “golden pennies,” which means that 100% of the revenue raised from this portion of the tax rate stays in LISD and would not be subject to recapture should the district be subject to such.

Historical Tax Rates

Fiscal YearMaintenance & Operations (M&O)Interest & Sinking (I&S)Total Tax Rate
2021-220.872000.465001.33700
2020-210.953400.465001.41840
2019-200.970000.467501.43750
2018-191.040000.470001.51000
2017-181.040000.471871.51187
2016-171.040000.471871.51187
2015-161.040000.471871.51187
2014-151.040000.471871.51187
2013-141.040000.471871.51187