FISD Achieves Top State Rating for Financial Management

Each year for more than 20 years, Frisco ISD has received the top A rating from the state for its financial management practices. 

The School Financial Integrity Rating System of Texas (FIRST) is designed to provide additional financial transparency, oversight and improvement for school districts.

Frisco ISD received 98 out of 100 possible points in the latest rating, which was based on the District’s annual financial report for the 2021 fiscal year. Approximately 85 percent of Texas school districts achieved a Superior rating for 2021-22. 

The financial accountability system requires TEA to review the audited financial reports from all districts and charters. It is based on 20 financial indicators, such as administrative cost expenditures; the accuracy of a district or charter’s financial information submitted to the state; and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor.

All school districts and charters are required to report information and financial accountability ratings to parents and taxpayers. In addition, districts and charters must hold a public discussion or hearing regarding its financial report.

Frisco ISD hosted its public hearing and presentation on the FIRST rating during the Oct. 17 Board meeting. Click here to view the presentation or here to watch the video.

FISD will provide a preview of its 2022-23 FIRST rating, based on the audited annual financial report for the 2022 fiscal year, after the audit is finalized in November. 

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