Public meeting required

8/31/09

TEA has posted the Final 2009 School FIRST ratings.  This rating is a retrospective view of district financial performance and is calculated from the 2007-2008 financial reports and some other academic ratings. 

The letter explaining the ratings, links to the ratings and additional information can be found on the Financial Integrity Rating System of Texas (FIRST) webpage.  The ratings pages contain links to each of the 24 indicators and the data that was used to determine the score.

There are several things that the district must do now:

Within two months after receipt of its final School FIRST rating, each school district must announce and hold a public meeting to distribute a financial management report that explains the district’s rating and its performance under each of the 24 indicators for the current and prior year.

And

The district will be required to report on reimbursements to the superintendent and board of trustees members, for the 2007-2008 school year, and either post on the district’s website or supply in the financial management report the current superintendent’s contract. 

Notice that all of the information is current for the 2007-2008 school year and the prior year for this purpose is the 2006-2007 school year.  The purpose of the 2006-2007 year data is to publicize the progress that the district is making if the rating needs to be improved.  While it is not required, it may be useful for the district to compile similar information for the 2008-2009 school year and for the 2009-2010 budget. 

A Schools FIRST Communications Resources Kit is available on the TASBO Schools FIRST page. 

House Bill 3 passed in the last session of the legislature requires that a new system for assessing financial accountability be developed, but the current system will remain in use for at least another year.