Financial Integrity Rating System of Texas

For a fifth year in a row, the Texas Education Agency has awarded SBISD its top rating of Superior Achievement for management of the school district’s financial resources.

SBISD first earned the top rating in 2003 under the School First (Financial Integrity Rating System of Texas) program, which is based on 21 financial indicators used to rate district compliance with financial standards and benchmarks.

The School FIRST program was created in 2001 by the Texas Legislature. Under the annual review, public school districts can be assigned ratings that range from Superior Achievement to Substandard. Ratings are based on analysis of staff and student data, budgetary and actual figures for the year reviewed, and other Legislative requirements.

As required, the SBISD Board of Trustees reviewed the district’s Financial Integrity Rating during its Sept. 24 meeting. A public hearing was also held.

SBISD’s top rating of Superior Achievement allows the district to obtain the best available interest rates, among other results.

In related honors, SBISD has earned top marks in recent years from the Government Finance Officers Association of the United States and Canada, or GFOA, and was awarded the Certificate of Achievement for Excellence in Financial Reporting. The certificate is the highest form of public recognition in the area of governmental accounting and financial reporting.

posted 10-04-07