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Eagle Pass ISD projects $52'5 million fund balance; bond proceeds and tax increase discussed
Summary
Superintendent Mijares presented the final 2026-27 budget workshop, projecting about $5200,000 year-end funds, a fund-balance draw to about $43.9 million after covering salaries, and explaining that a recent $150 million bond sale (plus about $6 million interest) will temporarily affect the tax rate; sample homeowner impacts were shown.
Superintendent Mijares told the board this was the last budget workshop before adoption and walked trustees through projected year-end figures and the near-term tax effect of a bond sale. He said the district expects to have roughly $5200,000 ("almost $53,000,000") at month end and projected a fall in the M&O fund balance to about $43.9 million after covering salaries and recurring costs.
Mijares said the district received the full $150,000,000 bond issuance plus roughly $6,000,000 in proceeds/interest, for about $156,000,000 available for projects. He presented sample tax impacts showing an average household could pay about $146 more annually under the immediate rate and noted that a $390,000 house would face roughly a $500 increase; he added the plan anticipates state funding in year two will lower the effective local rate. "We got exactly $150,000,000 to work with, plus 6,000,000. We're at 156,000,000 that we'll be able to work with," he said.
Mijares and trustees discussed special-education costs in detail: he said federal and SHARS Medicaid reimbursements have declined, requiring more than $1 million to be shifted into state or local funding this year to maintain services and meet maintenance-of-effort obligations. "We had to move all those slots to the regular state budget," he said, and warned that once moved the maintenance-of-effort rules prevent simply shifting the dollars back should federal funds return.
The superintendent also explained an increase in long-term debt-service payments tied to the bond: debt payments will increase from about $3,000,000 previously to roughly $12,000,000 in annual payments, reflecting the district's new debt schedule. Mijares told trustees the district is earning interest (~3.8% at presentation) on bond proceeds while projects proceed.
Trustees asked clarifying questions about how funding comparisons were chosen for special education and whether staffing plans were underway to address increased caseloads. Mijares said administrators are working on staffing and that some early efforts (especially pre-K inclusion work) have begun, but full implementation will require phased staffing changes and sustained fiscal planning.
