Issued by the Texas Education Agency, it’s the highest rating available to school districts, according to district documents.
What you need to know
FIRST is used as a “financial accountability rating system that holds school districts accountable for the quality of their financial management practices,” according to a presentation from the district.
Out of a possible score of 100, the district scored a 92, which is the same score the district received last year, TEA data shows.
Diving in deeper
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.
The two indicators in which FISD did not receive a 10/10 score were indicators 11 and 12, according to district documents.
Indicator 11 assesses whether the district’s financial structure is stable enough to handle its long-term obligations without jeopardizing its financial position, according to the presentation. FISD scored a 4/10.
Indicator 12 evaluates the ratio of assessed property value to future interest and sinking payments. I&S payments are used to pay debt services, such as bonds, according to district documents. FISD scored an 8/10.
