AUSTIN The Texas Education Agency announced Thursday final financial accountability ratings for more than 1,200 school districts and charter schools across the state, with 85 percent earning the highest rating possible for 2021-2022.
Ector County ISD received a superior rating.
Created in 2001 by the 77th Texas Legislature, the Financial Integrity Rating System of Texas (FIRST) is designed to encourage public schools to improve their management of financial resources to provide the maximum allocation possible for direct instructional purposes.
The FIRST ratings are calculated using twenty (20) financial indicators for school districts and twenty-one (21) financial indicators for open-enrollment charter schools, such as administrative cost expenditures; the accuracy of a district’s or charter school’s financial information submitted to TEA; and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor, a news release said.
Ratings for 2021-2022 are based on annual financial reports provided to TEA by districts and charter schools for the 2021 fiscal year. The financial accountability rating system requires TEA to review the audited financial reports from all districts and charter schools.
A school district or charter school is assigned one of four letter grades (A, B, C, or F), as well as a coinciding financial management rating (Superior Achievement, Above Standard Achievement, Meets Standard Achievement, or Substandard Achievement).
