Budget and Financial Services
The Financial Services Department is responsible for:
- Campus & Student Activity Funds
- Cash & Investment Management
- Fixed Assets
- General Accounting
- Grant Accounting
- Tax Office
The Director of Financial Services reports to the Deputy Superintendent of Business and Support Services who has overall responsibility for the financial matters of the district.
The Clear Creek Independent School District strives to meet a high standard for financial transparency. We hope that the following information provides better insight into the District’s financial operations:
To request further information, please contact the Office of Communications.
For a list of elected Board Members and their contact information please click here.
Awards & Recognitions
The District has been recognized by state, national and international organizations for strong stewardship of tax dollars along with efficient budgeting and financial reporting practices. The District currently receives the following:
- Superior Achievement by the Financial Integrity Rating System of Texas (FIRST)
- Certificate of Excellence in Financial Reporting from the Association of School Business Officials International (ASBO)
- Certificate of Achievement for Excellence in Financial Reporting from the Government Finance Officers Association (GFOA)
- Meritorious Budget Award from the Association of School Business Officials International (ASBO)
- Distinguished Budget Presentation Award from the Government Finance Officers Association (GFOA)
- AA credit rating by Standard & Poor’s Ratings Services and Fitch Ratings
- Texas Comptroller Gold Leadership Circle for Financial Transparency
Funding of Public Education
Financing of public education, according to the Texas constitution, is a State responsibility, but legislation governing the funding formulas fall short of what school districts need to adequately prepare our youth for the 21st Century. Clear Creek ISD, along with all school districts in Texas, will continue to champion for legislation to reform the Texas school finance system.
A common misunderstanding of school finance is that taxpayers often think that as their property values rise, thus increasing their tax payment to the school district, the school district gets the benefit of the increased tax revenue. Under current funding formulas, as district tax revenue rises, funding from the State is decreased. School districts are currently funded based on revenue per student as of 2006. The funding formulas allow for no inflationary factors such as rising utility, fuel or insurance costs, all of which have risen drastically over the last several years. Accordingly, the only manner in which a school district can receive additional revenue is by raising the tax rate or looking at other revenue opportunities.
As a local taxpayer, your tax rate is split into two categories and monies cannot be transferred between the two.
Maintenance and Operations tax rate (M&O): The local school district tax rate that raises revenue to be used to operate and maintain the district’s schools. CCISD’s M&O rate is at $1.04 per $100 assessed valuation.
Interest and Sinking tax rate (I&S): The local school district tax rate that is levied to pay for voter approved bonded indebtedness, usually construction of facilities or other capital needs. CCISD’s I&S rate is at $0.32 per $100 assessed valuation.
For a list of historical tax rates please click here.
Clear Creek ISD manages a budget in excess of $350 million annually from its M&O taxes, I&S taxes, and federal, state and local grants. Approximately 85% of the district’s M&O budget is used for personnel, primarily at the campus level.
Insufficient Check Collection
Clear Creek ISD has contracted with a check recovery service to collect any insufficient fund checks made out to any district activity, including food services. The recovery service will charge a minimum $30 fee for all checks returned by the bank for insufficient funds. The service will begin by writing letters or telephoning the check writer. Insufficient checks may be paid to the check recovery company by credit card, debit card, money order or by electronic check over the phone.