PRESS RELEASE


May 14, 2014

Tina Veal-Gooch
Director of Public Relations
903.794.3651 ext. 1013

Duke TIP Scholars Honored, Bond Refinancing and Budget Discussed during TISD Board of Trustees Meeting

Texarkana, TX – During their Tuesday, May 13 regular session, Texarkana Independent School District Board of Trustees recognized Texas Middle School seventh grade students who have been selected through the Duke Talent Identification Program (TIP) as state-level honorees.

They are: Connor Allred, Madison Brown, Chandler Bursey-Reece, Natalio Castaneda, Micah Collins, Kaitlyn Cross, Jasmine Geyer, Kevin Jacob, Hannah Klein, Carson McCarver, Cameron Murry, Justin Portwood, John Powell, Thomas Strutton, Kayla Walthall, Kearstan Williams and Jett Wolf.

The Duke TIP program identifies academically talented seventh graders based on standardized test scores while attending elementary or middle school. Students are invited to take the ACT or the SAT college entrance exam as a seventh grader, which allows them great insight into their academic abilities.

Fifty-seven percent of Texas Middle School students who were invited to participate in the Duke TIP program qualified for State Recognition.

In other business, Doug Whitt, Financial Advisor with Southwest Securities Group, presented a potential bond refunding program that could save the district as much as $100,000 per year. According to Deidra Reeves, Chief Financial Officer, “Our 2005 bonds are eligible for refinancing over the next 12 months. Current trends are showing signs of interest rates lowering and in an effort to be ahead of the game, we are asking the Board of Trustee to give us the authority to refinance when the best time becomes available during the next year.”

Lastly, as part of the budgeting process, the Second Reading of the 2014-15 budget was presented. The presented projection features a $78,373 deficit on a $59 million budget. Estimated enrollment projections are on par with current year at 7,212 and certified appraised values are expected to be $1.935 million. No change will be made to TISD’s total tax rate which has remained the same since 2008. The 2014-15 proposed tax rate is represented by $1.17 for Maintenance & Operations (M&O) and $.169 for Interest & Sinking Funds (I&S) which is used to repay bonded indebtedness and other debts.

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