Community ISD has again received a rating of “Superior Achievement” under the Financial Integrity Rating
October 23, 2019 - For the 4th consecutive year Community ISD has received the highest rating of "A" for Superior Achievement from the state's school financial accountability rating system, known as the School Financial Integrity Rating System of Texas (FIRST). Released earlier this month, the district’s results were officially presented to the CISD Board of Trustees at their regular meeting on October 21, 2019, by Chief Financial Officer Greg Buchanan.
Created by the 77th Texas Legislature in 2001, the School Financial Integrity Rating System of Texas (FIRST) is designed to encourage public schools to better manage their financial resources to provide the maximum allocation possible for direct instructional purposes.
The 2018-19 ratings are based on annual financial reports provided to TEA by districts and charters from the previous fiscal year (2017-18). The financial accountability system requires TEA to review the audited financial reports from all districts and charters.
The FIRST ratings are based on 15 financial indicators, such as administrative cost expenditures; the accuracy of a district or charter’s financial information submitted to TEA; and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor.
Based on the submitted information, a school district or charter is assigned one of four possible letter grades (A, B, C or F), as well as a coinciding financial management ratings – Superior, Above Standard Achievement, Meets Standard or Substandard Achievement.