Prosper ISD officials have received an A from the Texas Education Agency for their financial transparency during fiscal year 2021-22.
The district’s board of trustees reviewed the rating with Chief Financial Officer Michele Seese during the Nov. 13 board meeting. Out of a possible score of a 100, PISD received a 94. The TEA’s scoring levels include:
- A, superior: 90-100
- B, above standard: 80-89
- D, meets standard: 70-79
- F, substandard: 0-70
The Financial Integrity Rating System of Texas, also called FIRST, is issued by the TEA. It measures the quality of a district’s reporting and management of finances to hold the district accountable for its financial management.
The rating is based on a number of factors, including:
- Revenue against expenses
- Assets against liabilities
- Financial documents made public
- Cash on hand
- Administrative costs
