CISD 101: Did You Know? Smart Moves Saved Millions for Taxpayers

Did you know that Carroll ISD has reduced its overall debt by nearly $45 million in just three years?

Thanks to a series of fiscally-responsible decisions by the current Board of Trustees, CISD has strategically used defeasance, the process of paying down commercial debt early without penalty, to lower the District’s total debt burden. This approach began with a key board vote in 2023 and continued with two additional votes in the years that followed.

By making these early payments, our Board of Trustees has not only reduced what the District owes, but also saved CISD tax payers more than $16 million in future interest. The concept is very much like paying down a mortgage earlier than required. It takes foresight and focus, but the results are powerful.

At a time when CISD faces ongoing financial challenges, our Board and administrators have not only paid off debt, but balanced the budget and lowered the tax rate year after year.

While CISD remains one of the lowest-funded districts in the state, smart, conservative financial planning is more crucial than ever. And while the 89th Legislative Session finally delivered some long-overdue increases to public education funding, this new funding is not enough to offset record inflation coupled with years of stagnant state funding.

The District continues to plan ahead for long-term, sustainable financial solutions. We extend our sincere appreciation to our administrators and the entire Carroll ISD Board of Trustees for their foresight and commitment to protecting public dollars while ensuring we maintain the Dragon Standard. Their continued efforts help ensure that our financial future is as strong as our tradition of excellence.

Stay tuned for more CISD 101: Did You Know? facts throughout the year!