Financial Transparency Information
Palestine ISD's financial information is audited on an annual basis by an external accounting firm, currently Smith, Lambright & Associates, P.C. The information in these reports is then sent to the Texas Education Agency where the data is compiled into other reports for accountability measures.

Summary of Fiscal Year 2015-16 Budget

The 2015-16 Budget is for the Fiscal Year beginning September 1, 2015 and ending August 31, 2016 and was used to keep track of specific sources of funding and spending for particular purposes.

Funds:

• The General Fund is the District's primary operating fund. It accounts for all financial resources of the general government, except those required to be accounted for in other special purposes funds.
• The Food Service Fund is used to provide nutritional meals for students, and includes federal funding to provide free hot meals for eligible children.
• The Debt Service Fund is a restricted fund used to pay principle and interest on long-term general obligation debts for construction, major renovations, and maintenance of facilities.

Expenditures:

Expenditures for the Fiscal Year 2015-16 total $28,852,577 or $8,524 per student.

Revenues:

Revenues from all funds for the Fiscal Year 2015-16 total $28,782,656 or $8,503 per student which includes revenues from property taxes.

Revenues from property taxes for the Fiscal Year 2015-16 total $12,424,507 or $3,385 per student.

Staffing:

Full-time equivalent positions for all personnel for the Fiscal Year 2015-16 total 486.3.