The ratings are based on financial data from fiscal year 2023-24 and were presented to the board of trustees at its Nov. 17 meeting.
The overview
FIRST began after the 77th Texas Legislature passed Senate Bill 218, which required the Texas Education Agency to form a financial accountability rating system for school districts, and districts to prepare an annual financial management report.
The rating is based on several factors, including:
- Financial solvency through assets and liabilities
- Budgetary practices
- Debt management
- Efficiency in managing public funds
The FIRST rating uses 21 indicators, according to district documents. These include whether the district submitted financial documents to the TEA within the required time frame, if the district complied with debt payments by the end of the fiscal year, if cash on hand was sufficient, and whether the current assets and liabilities ratio was sufficient to cover short-term debt.
Out of all indicators, CCISD did not receive a 10/10 on Indicator 11, which assesses whether the district’s financial structure is stable enough to handle its long-term obligations without jeopardizing its financial position. CCISD scored a 4/10, bringing the total score to 94.
CCISD officials look at this indicator every year with hopes to bring it up in the future, CCISD’s Chief Financial Officer Alice Benzaia said at the meeting.
Quote of note
CCISD trustee Arturo Sanchez said he is grateful to the district leaders for staying on top of funding to provide students with a world-class education.
“Thank you to the leadership for what we do on a daily basis, and I just want to make sure the community knows that this has not happened because there has been extra funding. This is happening because we’ve been extremely disciplined in how we manage our finances and our business of the district,” Sanchez said at the meeting.
