The overview
Across 20 separate indicators, CCISD received a 90 out of 100 as part of the state’s Financial Integrity Rating System of Texas, or FIRST.
It is the 21st year the state has carried out it’s FIRST rating system, and the 17th year in a row the district.
Diving in deeper
Five of the indicators are either pass or fail, meaning if the district failed one, they’d fail as a whole. The remainder are scored and are calculated based on how well the district meets that indicator's requirements.
According to district documents, some of those include:
- Number of days of cash, on which the district received a 10 out of 10
- Current assets to current liabilities, on which the district received a 6 out of 10
- Ratio of long-term liabilities to total assets, on which the district scored a 4 out of 10
- Debt service coverage ratio, on which the district scored a 10 out of 10
- Administrative cost ratio, on which the district scored 10 out of 10
What else?
Officials in recent months have noted the financial challenges associated with lack of state action to further fund public education, as well as stagnating enrollment, which directly affects revenue for school districts.
District officials approved a budget for fiscal year 2023-24 that included a $17.4 million shortfall. To fill the shortfall, officials moved forward with a voter-approval tax rate election, or VATRE, which was approved in November.
What they’re saying
Some trustees said the score could drop in the coming months and years as officials move to start issuing bonds as part of a $302 million bond that was approved in November. Those bonds will increase the district’s debt, which will affect its debt ratio.
