Financial Transparency
Sherman ISD is committed to providing our community with transparent financial information in a format that is both easily accessible and understandable.
- Budget Information
- Tax Rate Information
- School Financial Integrity Rating System of Texas (FIRST) Reports
- Debt Overview
- Annual Financial Reports
- Check Registers
Budget Information
Budget Information
The Sherman ISD Board of Trustees adopts three separate budgets each year:
- General Fund Budget: This budget covers the primary operating costs of the district, including salaries, utilities, classroom supplies and other day-to-day expenses.
- Food Service Budget: This budget supports the district's student nutrition programs, including meal preparation, staffing and compliance with state and federal nutrition guidelines.
- Debt Service Budget: This budget pays for the principal and interest on bonds.
Official Budgets
Tax Rate Information
Tax Rate Information
Texas public school tax rates are comprised of two figures: the Maintenance and Operations (M&O) rate and the Interest and Sinking (I&S) rate. The M&O rate funds the daily costs of running a school district, such as staff salaries, food, utilities, supplies, and more. The I&S rate, also as known as debt service, is used to repay debt from long-term capital projects authorized in voter-approved bond elections.
Tax Rate History
SISD currently has its lowest combined tax rate in more than two decades. For the 2024-2025 school year, the Sherman ISD M&O rate is $0.7552, and the I&S rate is $0.479 for a total combined tax rate of $1.2342 per $100 of certified property values. This is a $0.0023 decrease from the prior year.
The table below lists the district's tax rate for past five years, and this document lists tax rates since 2000.
| School Year | M&O | I&S | Total Tax Rate |
|---|---|---|---|
| 2024-25 | $0.7552 | $0.479 | $1.2342 |
| 2023-24 | $0.7575 | $0.479 | $1.2365 |
| 2022-23 | $0.9429 | $0.479 | $1.4219 |
| 2021-22 | $0.9603 | $0.479 | $1.4393 |
| 2020-21 | $0.9907 | $0.479 | $1.4697 |
Tax Rate Calculation Worksheets
The Tax Rate Calculation Worksheet is a required document used by Texas school districts to calculate and show how tax rates are determined based on property values, revenue needs and state funding formulas. The worksheet provides transparency and guides districts in setting tax rates in compliance with state laws.
Tax Questions
For questions or concerns regarding Sherman ISD taxes, please contact:
Grayson County Tax Assessor-Collector100 W Houston St.
Sherman, TX 75090
(903) 892-8297
Grayson County Tax Assessor-Collector Website
School Financial Integrity Rating System of Texas (FIRST) Reports
School FIRST Reports
The state's school financial accountability rating system, known as the School Financial Integrity Rating System of Texas (FIRST), ensures that Texas public schools are held accountable for the quality of their financial management practices and that they improve those practices. The system is designed to encourage Texas public schools to better manage their financial resources to provide the maximum allocation possible for direct instructional purposes. Ratings are based on data from the previous school year.
For the last 20 years, Sherman ISD has maintained a superior or above standard rating.
Debt Overview
Debt Overview
Sherman ISD borrows money to fund large-scale capital projects such as new school construction, renovations and upgrades, safety, security and technology improvements, and more. The district repays these loans over time using property tax revenue from our debt service tax rate.
LEARN MORE ABOUT BOND PROJECTS
Current Credit Ratings
Sherman ISD maintains favorable credit ratings, which often result in lower interest rates, reducing the total cost of borrowing over the life of the bonds. These ratings reflect the district's sizeable tax base experiencing rapid enrollment growth and healthy reserve levels.
Bond Payment Schedules
Annual Report of Certain Financial and Local Debt Information
Bond Payment Overview
Texas Municipal Reports for Sherman ISD
Annual Financial Reports
Annual Financial Reports
Each year, Sherman ISD undergoes an independent audit, which reviews the accompanying financial statements of the governmental activities, each major fund, and the aggregate remaining fund information of the district. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements.
Check Registers
Check Registers
Sherman ISD no longer publishes check registers on our website. The district made this decision after becoming aware of multiple cases of fraudulent activity involving several Texas public school districts losing several million dollars. In addition, there are many other failed attempts on school districts and state agencies. According to reports and warnings from the Texas Association of School Boards and the Texas Association of School Business Officials, the publication of detailed information on school district websites containing vendors and amounts paid facilitated the perpetrators in sophisticated phishing schemes which appeared legitimate.
It remains the mission of Sherman ISD to provide current, detailed and transparent information to our taxpayers. For years, SISD published the details of each check register on the district’s website. However, we must weigh the inherent risk of misuse against the overarching benefit of the information intended for our stakeholders. Therefore, the administration made a difficult but deliberate decision to remove the detailed information from the website.
Again, the removal of this information does not diminish our dedication to make the information available to those wishing to review the information. The reports will continue to be produced each month and archived. To request Sherman ISD check registers, please file a formal Public Information Request. We appreciate your understanding and regret this additional step should it cause inconvenience.