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KIPP Texas maintains 'superior' FIRST rating and projects a stronger fiscal year despite fundraising shortfall
Summary
Sanhan, chief financial officer for KIPP Texas, told the board on Sept. 25 that the organization maintained a 'superior' FIRST score of 90 and expects a rebound to the mid‑90s as coding issues are corrected and year‑end results close.
Sanhan (chief financial officer) and senior finance staff briefed the board on Sept. 25 on the organization’s fiscal performance, external audit status and the Financial Integrity Rating System of Texas (FIRST) score. Finance staff said the most recent FIRST rating is 90 out of 100 (classified as “superior”); they expect coding corrections and year‑end results to push the score to about 94 in the next published cycle.
Fiscal highlights presented: staff reported a projected FY25 EBITDA of about $46 million, which exceeds the $44 million threshold that supports a 1.2 times debt service coverage ratio. Management said it expects to deliver…
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