Floresville ISD received a preliminary “Superior” Financial Integrity Rating from the Texas Education Agency for the 2019-2020 fiscal year. The district earned 94 out of a possible 100 points, putting them in the highest rating bracket.
The School Financial Integrity Rating System of Texas (FIRST) ensures that Texas public schools are held accountable for the quality of their financial management practices and that they improve those practices.
Superintendent Jason Gilstrap was not surprised by the rating, citing many years of clean audits for FISD.
“The district does a good job of maintaining financial accountability. Not only have the audits been clean for multiple years, but the financial stability of the district has also improved, “ stated Gilstrap.
Along with the financial rating, Gilstrap says FISD will propose a tax rate decrease of ten cents for the upcoming tax year.
According to Gilstrap, FISD is able to propose a total tax rate of $1.1344 compared to the previous year’s rate of $1.2344 because of an increase in property values. In 2020, the average home in FISD was valued at $165.000. This year, the average home is valued at $180,000. A taxpayer with a $180,000 home would see an increase of $5.16 in their tax bill based on the lower proposed tax rate.
The district will propose the following specific rates at its September regular meeting.
Maintenance and Operations: $0.872
Interest and Sinking: $0.2624
The proposed tax rate is .$0.10 lower than last year’s rate.
“Tax rates are not arbitrarily set. School districts abide by a formula provided by the 86th Legislature and compressed tax rate laws,” said Gilstrap.
Gilstrap explained that the State of Texas tells districts what it should cost to educate a student and the district, in turn, sets the tax rate accordingly. The funds generated for the district are a combination of local tax dollars and state dollars, with the state providing the lion’s share.
“It is important that we continue to provide tax relief when we can while also maintaining district operations. This includes giving our students a quality education and our staff a quality work environment,” added Gilstrap.