The district’s board of trustees reviewed the rating in a public hearing with Chief Financial Officer Michele Seese during a Nov. 19 meeting. Out of a possible score of 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 overview
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 scores low in this category due the growth and facility needs PISD has.
PISD received the same score last year due to the district’s fast growth.
The complete presentation of the FIRST report can be found here.
