The Texas School FIRST financial accountability rating system measures the quality of a school district's financial management and reporting. FISD received a “B” “Above Standard” rating with a score of 88 for 2018-2019, a 14-point increase from the 2017-2018 rating.
Ms. Linnci Angle, FISD Director of Finance, presented the FIRST Report at the October Board of Trustees’ Meeting. She attributed much of the score increase to the district growing its fund balance through sound budget management processes.
“It’s clear we are headed in the right direction,” commented Angle several times, as she pointed out higher scores on many of the 15 indicators.
Dr. Sherri Bays, Superintendent, says that the Board of Trustees has worked hard to increase the fund balance to the recommended level.
“TEA recommends that a district’s fund balance be able to cover 90 days of operating expenses. This rating reflects, in part, a 1.7 million increase in fund balance from 17-19 to 18-19. One of FISD’s goals is to exercise fiscal responsibility. This rating shows that FISD continues to improve its financial standing,” said Bays.
This is the 17th year of School FIRST (Financial Accountability Rating System of Texas), a financial accountability system for Texas school districts developed by the Texas Education Agency in response to Senate Bill 875 of the 76th Texas Legislature in 1999 and amendments under House Bill 5, 83rd Texas Legislature, Regular Session, 2013. The primary goal of School FIRST is to achieve quality performance in the management of school districts’ financial resources, a goal made more significant due to the complexity of accounting associated with Texas’ school finance system.