Corsicana ISD Earns State’s Highest Fiscal Accountability Rating
The Texas Education Agency (TEA) released financial accountability ratings for school districts and charters across the state. Corsicana Independent School District received a rating of “Superior Achievement” under the Texas’ Schools FIRST financial accountability rating system. The 2016-2017 ratings are based on annual financial reports provided to TEA by districts and charters from the 2015-2016 school year.
Created by the 77th Texas Legislature in 2001, the financial accountability rating system – known as the School Financial Integrity Rating System of Texas (FIRST) – is designed to encourage public schools to better manage their financial resources in order to provide the maximum allocation possible for direct instructional purposes.
The financial accountability system requires TEA to review the audited financial reports from all districts and charters. Based on the submitted information, one of four financial management ratings is assigned: Superior, Above Standard, Standard or Substandard. A designation of Suspended Data Quality or Undetermined can also be assigned when a district or charter fails to submit its annual financial report by the submission deadline and/or no financial data is available for review.
The FIRST ratings are based on 20 established financial indicators, such as operating expenditures for instruction, tax collection rates, student-teacher ratios, and long-term debt.
“I am proud that CISD’s financial accountability is continuously recognized by the TEA as ‘Superior,’” said Dr. Diane Frost. “The CISD Board of Trustees and Marti Shaner, Assistant Superintendent of Finance, and her department, provide oversight and management for the district finances. This proven responsibility is important to the District and to the community we serve.”
Pictured: CISD Business Office personnel were recognized by the Board of Trustees on Monday for the Superior Rating that CISD received for Financial Accountability from TEA. (L-R): Cheryl Baxter, Debra Collins, Dr. Diane Frost, Marti Shaner, Kelly Sitzmann and Heather White. Not pictured: Marylin McNeel.