Announcements‎ > ‎

Financial Accountability Award

posted Sep 14, 2015, 9:55 AM by Webmaster RISD

RICE ISD EARNS THE HIGHEST FINANCIAL ACCOUNTABILITY RATING AWARDED BY THE STATE OF TEXAS

 

RICE ISD EARNS THE HIGHEST FINANCIAL ACCOUNTABILITY RATING AWARDED BY THE STATE OF TEXAS

 

The Texas Education Agency (TEA) today released financial accountability ratings for more than 1,200 school districts and charters across the state. The 2013-2014 ratings are based on annual financial reports provided to TEA by districts and charters from the 2012-2013 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 school to better manage their financial resources in order to provide the maximum allocation possible for district instructional purposes.

 

The financial accountability systems requires TEA to review the audited financial reports from all district 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 Date 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.  For 2013-2014, approximately 95 per cent of Texas school districts passed with a FIRST rating of Standard or above.

 

As Superintendent for Rice Independent School District, I can clearly say the continued Superior rating for this district year after year is a team effort.  I am extremely proud of our Board of Trustees and the staff that work tirelessly to achieve this prestigious rating.