FIRST measures the quality of a school district’s reporting and management of finances to hold the district accountable for its financial management. The data for the 2021-22 rating is based upon data from fiscal year 2020-21.
DSISD received a C rating, meaning the district “meets standard.” Despite scoring 98 out of 100 points, the district received the C because of its failure to meet requirements under Indicator 17.
According to the Annual Financial Accountability Management Report, Indicator 17 failed because within FY 2020-21 the auditor’s report pointed out multiple misstatements in general ledger account balances, including in the capital projects fund. This resulted in multiple audit adjustments.
For 2020-21, based upon data from FY 2019-20, the district received an A rating, which is considered “superior.”
FIRST scores a district’s compliance under 20 indicators with five considered critical. The 20 indicators measure a district’s compliance with audit reporting, the accuracy of student attendance estimates, healthy fund balance levels, the relationship of district revenues to expenditures, and timely debt and employee benefit-related payments.
DSISD was denied an appeal of the rating Nov. 4 with the Texas Education Agency.
Elaine Cogburn, the district's deputy superintendent for finance and operations, presented the rating Dec. 12.
“Regardless of the rating, the district is financially strong,” Cogburn said. “We ended the 2021-2022 year with a fund balance of $47 million, which is over seven months of operating costs. Our current business office staff is strong and making positive changes.”
The 2022-23 rating will be based on the 2021-22 audit. For more information, visit dsisdtx.us/site/Default.aspx?PageID=1760.
