Boerne ISD board accepts ACFR, authorizes bond refunding after superior TEA rating

At the Nov. 17 meeting the Boerne ISD board reviewed several finance items, including the Texas Education Agency first-report results, the district's annual comprehensive financial report (ACFR) for the year ended June 30, 2025, and a resolution authorizing staff to pursue refunding of callable bond series.

Wes Scott presented the TEA First Report, which evaluates districts on 21 financial indicators. He said the district earned an "A," describing the rating as a superior achievement and noting an aggregate score that the administration reported as roughly 96 out of 100 possible points. Scott explained the district lost some points due to timing of state aid cash receipts for the 2023-24 year and a small change in administrative-cost ratio scoring as the district moved into a higher enrollment category.

The board then considered a resolution authorizing the issuance of refunding bonds. Administration asked for delegated authority to execute a refunding that would pursue callable debt in the 2014 and 2016 bond series and to accept market pricing; the administration said roughly $780 million in callable debt exists across series and that the district would pursue approximately $48 million of that callable capacity, with projected interest savings and restructuring to shorten maturities. Trustee Courtney Darter Bruce moved the refunding order; Rich Senna seconded the motion and it passed by voice vote.

The administration also presented the ACFR (about 113 pages). Scott highlighted four "stories" from the ACFR: capital assets added from the 2022 bond authorization and related project activity; a conservative general-fund budget that produced a roughly $1.1 million surplus versus an originally adopted deficit; scheduled principal payments and defeasance activity connected to debt-service planning; and the impact of a new accounting standard requiring recognition of certain accumulated employee leave liabilities (a prior-period adjustment reported in the ACFR). Trustees moved to accept the ACFR as presented (motion by Carlin Fryer, second by Sarah Falconberry).

Finally, Scott reported monthly financial results through Oct. 31: additional foundation funding had been received, the Child Nutrition Fund showed an early surplus, donations in October totaled about $58,000 and the district collected roughly $78 million in taxes (approximately 69% of the levy). The board approved the monthly reports, donation report and tax-collection report by voice vote.

Trustees said they appreciated the finance staff and external auditors for transparent reporting and for sustaining practices that, they said, supported the successful voter-approval election effort.