Transcript Document

Financial Integrity Rating System of Texas
Enacted by 77th Texas Legislation in 2001 in response to Senate Bill 218
Based on 24 financial indicators to measure the financial stability and strength
of Texas School Districts
Wichita Falls Independent School District received the highest rating of
“Superior Achievement.”
In Region 9 Service Center Area – Most Districts received “Superior
Achievement”
In the state, 907 of 1031 (87.97%) Districts received “Superior Achievement”
Requirements of FIRST by TEA
School districts of Texas will be rated based on these 24 financial indicators
Within two months of receiving the final rating, districts must:
• Hold a public meeting that has been advertised at least twice in a
newspaper of general circulation
• Distribute financial management report to parents and taxpayers
• Share news with media
• Post on web
Requirements of FIRST by TEA
Additional information required by the Commissioner of Education starting
with the 2007 calendar year:
• A copy of the Superintendent’s current employment contract
• Total reimbursements received by the superintendent and each board
member
• Compensation and/or fees received by the superintendent from
another school district or other outside entity in exchange for
professional consulting and/or other personal services.
• Total dollar amount by the executive officers and board members of
gifts that had an economic value of $250 or more
• Dollar amount by board member for the aggregate amount of business
transactions with the school district
Financial Integrity Rating System of Texas
2007-2008 DISTRICT STATUS
Name: WICHITA FALLS ISD (243905)
Status: Passed
Rating: Superior Achievement
District Score: 80
#
Publication Level 1: 6/9/2009
Publication Level 2: 8/21/2008
Last Updated: 8/21/2008
Passing Score: 55
Indicator Description
1
Was The Total Fund Balance Less Reserved Fund Balance
Greater Than Zero In The General Fund?
Updated
Score
5/13/2009
Yes
5/13/2009
Yes
Total Fund Balance Less Reserved Fund Balance - $12,915,977
2
Was The Total Unrestricted Net Asset Balance (Net Of Accretion
Of Interest On Capital Appreciation Bonds) In The Governmental
Activities Column In The Statement Of Net Assets Greater Than
Zero? (If the District’s 5 year % Change in Students was 10%
more)
Total Unrestricted Net Asset Balance - $16,830,116
3
Were There No Disclosures In The Annual Financial Report
And/Or Other Sources Of Information Concerning Default On
Bonded Indebtedness Obligations?
5/13/2009
Yes
4
Was The Annual Financial Report Filed Within One Month After
November 27th or January 28th Deadline Depending Upon The
District’s Fiscal Year End Date (June 30 th or August 31st)?
5/13/2009
Yes
5
Was There An Unqualified Opinion in Annual Financial Report?
5/13/2009
Yes
6
Did The Annual Financial Report Not Disclose Any Instance(s) Of
Material Weaknesses In Internal Controls?
5/13/2009
Yes
7
Did The District’s Academic Rating Exceed Academically
Unacceptable?
5/13/2009
5
5/13/2009
5
5/13/2009
5
5/13/2009
5
WFISD rated Academically Acceptable
8
Was The Three-Year Average Percent Of Total Tax Collections
(Including Delinquent) Greater Than 98%?
WFISD Three-Year Average Percent – 99.61%
9
Did The Comparison Of PEIMS Data To Like Information In
Annual Financial Report Result In An Aggregate Variance Of Less
Than 3 Percent Of Expenditures Per Fund Type (Data Quality
Measure)?
0% Variance
10
Were Debt Related Expenditures (Net Of IFA And/Or EDA
Allotment) < $250.00 Per Student? (If The District’s Five-Year
Percent Change In Students = Or > 7%, Or If Property Taxes
Collected Per Penny Of Tax Effort > $200,000 Per Student)
District Debt Related Expenditures per student - $554.39
Qualified since District was not subject to rapid growth (3.34%
decrease)
11
Was There No Disclosure In The Annual Audit Report Of Material
Noncompliance?
5/13/2009
0
12
Did The District Have Full Accreditation Status In Relation To
Financial Management Practices? (e.g. No Conservator Or Monitor
Assigned)
5/13/2009
5
13
Was The Percent Of Operating Expenditures Expended For
Instruction More Than 65%? (Functions 11, 36, 93, 95) (Phased in
over three years, 55% for 2006-2007; 60% for 2007-2008; and 65%
for 2008-2009)
5/13/2009
3
5/13/2009
3
WFISD Percent Of Operating Expenditures Expended For
Instruction – 60.33%
14
Was The Percent Of Operating Expenditures Expended For
Instruction More Than Or Equal To 65%? (Functions 11, 12, 31, 33,
36, 93, 95)
WFISD Percent Of Operating Expenditures Expended For
Instruction – 68.53%
15
Was The Aggregate Of Budgeted Expenditures And Other Uses
Less Than The Aggregate Of Total Revenues, Other Resources And
Fund Balance In General Fund?
5/13/2009
5
The Aggregate Of Budgeted Expenditures And Other Uses Was
$12,945,615 Less Than The Aggregate Of Total Revenues, Other
Resources And Fund Balance In The General Fund.
16
If The District’s Aggregate Fund Balance In The General Fund And
Capital Projects Fund Was Less Than Zero, Were Construction
Projects Adequately Financed? (To Avoid Creating Or Adding To
The Fund Balance Deficit Situation)
5/13/2009
5
17
Was The Ratio Of Cash And Investments To Deferred Revenues
(Excluding Amount Equal To Net Delinquent Taxes Receivable) In
The General Fund Greater Than Or Equal To 1:1? (If Deferred
Revenues Are Less Than Net Delinquent Taxes Receivable)
5/13/2009
5
5/13/2009
5
Cash and Investments - $13,859,678; Deferred Revenue $879,709
18
Was The Administrative Cost Ratio Less Than The Threshold
Ratio?
Acceptable Administrative Cost Ratio is .1105
WFISD Administrative Cost Ratio is .0675
19
Was The Ratio Of Students To Teachers Within The Ranges Shown
Below According To District Size?
5/13/2009
5
5/13/2009
5
5/13/2009
5
5/13/2009
5
For Districts over 10,000 ratio is 13.5
WFISD ratio is 13.539
20
Was The Ratio Of Students To Total Staff Within The Ranges
Shown Below According To District Size?
For Districts over 10,000 ratio is 7.0
WFISD ratio is 7.277
21
Was The Total Fund Balance In The General Fund More Than 50%
And Less Than 150% Of Optimum According To The Fund
Balance And Cash Flow Calculation Worksheet In The Annual
Financial Report?
75.437%
22
Was The Decrease In Undesignated Unreserved Fund Balance <
20% Over Two Fiscal Years? (If 1.5 Times Optimum Fund Balance
< Total Fund Balance In General Fund Or If Total Revenues >
Operating Expenditures In The General Fund, Then District
Receives 5 Points)
Increased $591,743, from $10,864,079 to $11,455,822
23
Was The Aggregate Total Of Cash And Investments In The General
Fund More Than $0?
5/13/2009
5
5/13/2009
4
$13,859,678
24
Were Investment Earnings In All Funds (Excluding Debt Service
Fund and Capital Projects Fund) More Than $20 Per Student?
$68.65
DETERMINATION OF RATING
A.
Did The District Answer ‘No’ To Indicators 1, 2, 3 or 4? Or Did The District Answer ‘No’ To
both 5 and 6? If So, The District’s Rating is Substandard Achievement.
B.
Determine Rating By Applicable Range For Summation Of The Indicator Scores (Indicators
7-24)
Superior Achievement
75-85 and Yes to indicator 7
Above Standard Achievement
65-74 or > 75 and No to indicator 7
Standard Achievement
55-64
Substandard Achievement
< 55 or No to one default indicator
INDICATOR 19 & 20 RATIOS
Indicator 19
Indicator 20
Ranges for Ratios
District Size – Number
Of Students Between
Low
< 500
Ranges for Ratios
High
District Size - Number
Of Students Between
Low
High
7
22
< 500
5
14
500-999
10
22
500-999
5.8
14
1000-4999
11.5
22
1000-4999
6.3
14
5000-9999
13
22
5000-9999
6. 8
14
=> 10000
13.5
22
=> 10000
7.0
14
General Fund and Cash
Balances
25,000,000
20,000,000
15,000,000
10,000,000
5,000,000
0
2007-08
Fund Balance
2006-07
2005-06
2004-05
2003-04
2002-03
2001-02
2000-01
1999-00
1998-99
Cash Balance
Other Fund Balances
2,000,000
1,500,000
1,000,000
500,000
0
Debt Service
2007-08
2006-07
2005-06
Emp Benefits
2004-05
2003-04
2002-03
2001-02
2000-01
1999-00
1998-99
Food Service
General Fund Budget Vs. Actual
Expenditures
100,000,000
95,000,000
90,000,000
85,000,000
80,000,000
2-3
3-4
4-5
5-6
6-7
7-8
School Year
Original Budget
Amended Budget
Actual
WFISD Comparison of Students and Teachers
15,900
1,150
1,130
15,500
15,300
1,110
15,100
14,900
1,090
14,700
14,500
1,070
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
School Year
2004-05
2005-06
2006-07
2007-08
Total Students in District
Teacher FTE's
Teacher FTE's
Total Students in District
15,700
WFISD Comparison of Students and Staff
15,900
2,140
2,120
15,700
15,500
2,080
2,060
15,300
2,040
15,100
2,020
2,000
14,900
1,980
14,700
1,960
14,500
1,940
1998-99
1999-00
2000-01
2001-02
2002-03
2003-04
School Year
2004-05
2005-06
2006-07
2007-08
Total Students in District
Total Staff FTE's
Total Staff FTE's
Total Students in District
2,100
WFISD Administrative Costs
6,600,000
5,600,000
5,100,000
4,600,000
4,100,000
School Year
20
07
-0
8
20
06
-0
7
20
05
-0
6
20
04
-0
5
20
03
-0
4
20
02
-0
3
20
01
-0
2
20
00
-0
1
19
99
-0
0
3,600,000
19
98
-9
9
Administrative Costs
6,100,000
TEA Standard
WFISD Actual