CISD Awarded State's Highest Financial Rating
The Coppell Independent School District's Annual Financial Management Report was recently released to the Board of Trustees and the general public. For the seventh consecutive year, since Texas school districts have been reporting the results of the state's financial accountability system, Schools FIRST (Financial Integrity Rating System of Texas), CISD has received the superior achievement rating. The announcement from TEA helped secure a AA credit rating from Standard and Poors (S & P) and Fitch for CISD. Only 40 districts in the state rank at or above this rating.
According to Superintendent Dr. Jeff Turner, “During these challenging times, maintaining the financial health of the District and modeling accountability is imperative.” The primary goal of Schools FIRST is to achieve improved performance in the management of school district's financial resources in order to best facilitate the uses of those resources. Another secondary goal is to assure the maximum allocation possible for direct instructional purposes.
This rating, based on 24 indicators (see report posted in resource box), reflects fiscal responsibility, appropriate budgeting, appropriate personnel ratios, proper cash management (including six critical error indicators), and carries the maximum numerical score of 85. Dr. Turner added, “We are pleased with these ratings and will strive to continue to improve the financial operations of the district.”