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Wylie ISD finance staff report $161M remaining bond funds; trustees set schedule for budget adoption and tax-rate setting
Summary
Finance staff reported bond activity and cash balances, reminded trustees of a roughly $4.9 million debt-service payment due in August, and the board scheduled a budget workshop and a special meeting to adopt the 2025–26 budget and set the tax rate.
District finance staff told the Wylie ISD Board of Trustees that bond program activity has accelerated and that, after June transactions, about $161 million of the original $186 million bond authorization remained. The finance presenter said June bond-related expenses were a little over $4 million for the month and that overall bond activity is "definitely building up."
On the district'9s cash balances, staff reported an overall cash balance just over $23 million at the end of June and reminded trustees that an August debt-service payment of about $4.9 million would be drawn from the debt service fund. Staff also said about $550,000 from the general fund would be required in August for maintenance tax notes and time warrants. The presenter said the district holds insurance claim proceeds in Lone Star for interest earnings and that Lone Star'9s rate was about 4.3 percent at the time of the report.
Staff reviewed revenue results for the fiscal year to date, noting the packet'9s headline figure of about $49.09 million included insurance proceeds just under $5 million; when that one-time amount is removed, "true revenue" received was about 83 percent of budgeted revenue, up about six percentage points from the prior year. On expenses, staff reported year-to-date spending at about 85.64 percent of budget.
Trustees were reminded that the central appraisal district certifies values on July 25 and that the board will consider tax-rate recommendations after the district'9s financial adviser factors in fund balances. The board scheduled a budget workshop at 5:00 p.m. during the August regular meeting and a special board meeting at 6:30 p.m. on Aug. 25 to adopt the 2025–26 budget and set the tax rate.
The finance presentation included discussion of whether to hold a fund balance in the interest and sinking fund (I&S); a financial adviser recommended maintaining an I&S fund balance as a prudent practice in light of changing homestead exemptions and other tax-related uncertainties. Trustees did not change policy at the meeting; staff will present final numbers after certification and adviser recommendations.
