The details
District documents state the district is required to undergo an independent financial audit every year. The audit showed the district started with $141 million in the fund balance and received $542 million in revenue. The district incurred $539 million in expenditures, and LISD's ending balance for fiscal year 2024-25 was $145 million.
"We are issuing an unmodified opinion, so kudos to your team," Cereceres said.
By the numbers
The district's revenue sources were:
- $424 million in property taxes, accounting for 78% of LISD's revenue
- $60 million in state funding, making about 11% of the district's revenue
- $28 million in the Teacher Retirement System, or TRS, making up 5% of the revenue
- $21 million in local revenue, primarily from interest earned during the fiscal year, as well as tuition and fees, contributing 4% to revenue
- $9 million in federal revenue, making up about 2% of LISD's total revenue
The expenditures were:
- $327 million in instruction and related services, contributing 61% of the district's spending
- $46 million, or 9%, on instructional leadership
- $62 million, or 11%, for student support services
- $11 million in administrative costs, which made up 2% of expenditures
- $49 million, or 9%, in facilities maintenance and operations
- $13 million in recapture payments contributed to about 2% of expenditures
- $11 million, or 2%, were other, uncategorized expenses
One more thing
The district ended the fiscal year with a fund balance of 29% of total expenditures, above the district's policy of 25%, Ceraceres said.
