BOND MANAGEMENT

Dripping Springs ISD is committed to responsible fiscal management in all areas, including management of bond programs. As a fast-growth district, DSISD has funded construction of new facilities to serve students through bond programs that are presented to the voters. Since 2005, Dripping Springs ISD taxpayers have approved five bonds with the latest being the $223.7 million bond passed in May 2023. 

A school district’s tax rate consists of two parts: Maintenance and Operations (M&O) and Debt Service/Interest & Sinking fund (I&S). Maintenance and Operations taxes fund the General Operating Fund, which pays for salaries, supplies, utilities, insurance, equipment and the other costs of day-to-day operations. The Debt Service tax pays off school bonds, somewhat like paying off the mortgage on a house. Revenue from the Debt Service tax rate can be used only to retire bonds sold for specific purposes: construction, renovations, buses, land, technology, and the cost of issuing bonds. 

The district’s current bond rating by S&P Global Ratings (“S&P”) is “AA” without regard to credit enhancement and “AAA” when combined with the Texas Permanent School Fund Guarantee Program.

IRMA Certificate (8.1.23)