This is the third year districts received from the State a financial accountability rating. This rating is based upon an analysis of staff and student data reported for the 2004-05 school year and budgetary and actual financial data for the fiscal year ending June 30, 2005. This rating is called Schools FIRST (Financial Integrity Rating System of Texas). Plano ISD received the highest rating of Superior Achievement.

Each school district in Texas is required to announce and hold a public meeting to distribute a financial management report that explains the district's performance under each of the 21 indicators in the Schools First system and the district's rating. The determination of the rating is established by meeting standards within each indicator. A superior rating is the highest standard given to all districts that meet at least 19 of the 21 performance standards. Attached is a copy of the report sent to the District by the Texas Education Agency (TEA). The District passed all 21 indicators.

The indicators are categorized as:
Fund Balance - 4 - Standards met
Financial Reporting - 5 - Standards met
Budgeting/Expenditures - 5 - Standards met
Administration & Management - 3 - Standards met
Investments - 2 - Standards met
Staffing - 2 - Standards met
Total 21

The primary goal of Schools FIRST is to achieve quality performance in the management of school districts' financial resources, a goal made more significant due to the complexity of accounting associated with the Texas school finance system. This rating shows that Plano ISD's schools are accountable not only for student learning, but also for achieving those results cost effectively and efficiently.

Board Agenda - September 05, 2006

VII. Public Hearing: Schools FIRST Rating for Plano ISD

Presenter: Richard Matkin

Purpose: B - Update/status report

Time: 10 minutes

Description:

Recommendation:

Business Impact:

Summary:

Appendix:

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