Corsicana Independent School District received a rating of “Superior Achievement” under the Texas’ Schools FIRST financial accountability rating system. The 2020 ratings are based on annual financial reports provided to Texas Education Agency (TEA).
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 CISD Superintendent Dr. Diane Frost. “The CISD Board of Trustees and Michael Nielsen, Assistant Superintendent of Finance, and the business services staff, provide oversight and management for the district finances. Recognition of this financial responsibility is important to the District and to the community we serve.”