1 / 20

School FIRST

School FIRST. Financial Integrity Rating System of Texas. Goals. Achieve Improved Performance In The Management Of School Districts’ Financial Resources Facilitate Better Uses Of Financial Resources Demonstrate Increases In Fiscal Performance Were Achieved. Reports.

gaitherm
Download Presentation

School FIRST

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. School FIRST Financial Integrity Rating System of Texas

  2. Goals • Achieve Improved Performance In The Management Of School Districts’ Financial Resources • Facilitate Better Uses Of Financial Resources • Demonstrate Increases In Fiscal Performance Were Achieved

  3. Reports Superior Achievement - 15th consecutive year • Schools FIRST rating shows that the District is making the most of the taxpayers’ dollars. This rating shows that Northwest ISD’s schools are accountable not only for student learning, but also for achieving these results cost-effectively and efficiently.

  4. District Ratings Superior - Score: 100 • Superior 90-100 • Above Standard 80-89 • Meets Standard 60-79 • Substandard Achievement <60

  5. District Ratings 1. Was The Complete Annual Financial Report And Data Submitted To The TEA Within 30 Days of the November 27 or January 28 Deadline Depending On The District's Fiscal Year End Date of June 30 or August 31, Respectively)? YES

  6. District Ratings 2A. Was There An Unmodified Opinion in The Annual Financial Report On The Financial Statements As A Whole? YES

  7. District Ratings 2B. Did The External Independent Auditor Report That The Annual Financial Report Was Free Of Any Instance(s) Of Material Weaknesses In Internal Controls Over Financial Reporting And Compliance For Local, State, Or Federal Funds? YES

  8. District Ratings 3. Was The District In Compliance With The Payment Terms Of All Debt Agreements At Fiscal Year End? YES

  9. District Ratings 4. Did The District Make Timely Payments To The Teachers Retirement System (TRS), Texas Workforce Commission (TWC), Internal Revenue Service (IRS), And Other Government Agencies? YES

  10. District Ratings 5. Was The Total Unrestricted Net Asset Balance In The Governmental Activities Column In The Statement of Net Assets Greater Than Zero? Yes

  11. District Ratings 6. Was The Number Of Days Of Cash On Hand And Current Investments In The General Fund For The District Sufficient To Cover Operating Expenditures (excluding facilities acquisition and construction)? 10 Points

  12. District Ratings 7. Was The Measure Of Current Assets To Current Liabilities Ratio For The District Sufficient To Cover Short-Term Debt? 10 Points

  13. District Ratings 8. Was The Ratio Of Long-Term Liabilities To Total Assets For The District Sufficient To Support Long-Term Solvency? 10 Points

  14. District Ratings 9. Did The District’s General Fund Revenues Equal or Exceed Expenditures (excluding facilities acquisition and construction)? 10 Points

  15. District Ratings 10. Was The Debt Service Coverage Ratio Sufficient To Meet The Required Debt Service? 10 Points

  16. District Ratings 11. Was The District’s Administrative Cost Ratio Equal To Or Less Than The Threshold Ratio? 10 Points

  17. District Ratings 12. Did The District Not Have a 15 Percent Decline In The Students To Staff Ratio Over 3 Years (total enrollment to total staff)? 10 Points

  18. District Ratings 13. Did The Comparison Of Public Education Information Management System (PEIMS) Data To Like Information In The District’s Annual Financial Report Result In A Total Variance Of Less Than 3 Percent Of All Expenditures By Function? 10 Points

  19. District Ratings 14. Did The External Independent Auditor Indicate The Annual Financial Report Was Free Of Any Instance(s) Of Material Noncompliance For Grants, Contracts, And Laws Related To Local, State, Or Federal Funds? 10 Points

  20. District Ratings 15. Did The District Not Receive An Adjusted Repayment Schedule For More Than One Fiscal Year For An Over Allocation Of Foundation School Program (FSP) Funds As A Result Of A Financial Hardship? 10 Points

More Related