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
Within the 20 indicators scored, PISD received a 4 out of a possible score of 10 for its correlation between future debt payment requirements and assessed property values. Seese explained the district will “struggle” meeting this indicator because of the fast growth it is experiencing.
“The state tries to put all districts into one category, and it just doesn’t work,” Seese said. “We’re very unique.”
