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HBISD staff report Superior School FIRST rating: district scores 96 of 100
Summary
District finance staff presented the Texas Education Agency School FIRST analysis showing a 96/100 score and a "Superior" rating, with staff noting strong liquidity, a $412 million net position and points affected by recent bond sales.
District finance staff presented the Hurst‑Euless‑Bedford ISD's Financial Integrity Rating System of Texas (School FIRST) results, reporting a 96 out of 100 score — a rating the system classifies as "Superior."
Staff explained that School FIRST uses financial data from the 2023–24 fiscal year and 21 indicators, four of which are treated as critical. The district received full points for timely financial reporting, an unmodified audit opinion and timely payments to government agencies. Staff reported a net position of $412 million, approximately 314 days of cash on hand and a current assets to current liabilities ratio of about 14.77, all of which contributed to the high score.
Presenters noted the district lost a small number of points related to ratios affected by recent bond sales: the asset‑to‑liability ratio was reported as 0.6448 for one indicator (yielding fewer points than the maximum) and the debt‑to‑property value ratio was 4.2464 (also yielding fewer points). Staff said those scores reflect timing and the district's bond activity and should improve as property values increase and debt is paid down.
A representative summarized the overall outcome: "We received a 96 out of a 100," and the board asked clarifying questions about how the sale of bonds affected specific indicators. A board member asked how the district's score compared with peers; staff responded that most districts score in the 90–100 range and that missing one of the four critical indicators typically causes a failing rating.
The board opened a public comment period specifically on the School FIRST report and recorded no public speakers on the rating. Staff closed the public comment portion and proceeded with the remainder of the meeting. No formal action was required on this presentation; it was provided for board information and public transparency.
Key data reported by staff - Net position: $412,000,000. - Days of cash on hand: 314 days (full points for indicator requiring >90 days). - Current assets to current liabilities ratio: 14.77 (maximum points for that indicator). - Revenues exceeded expenditures by about 5.22% for the reported year. - School FIRST score: 96/100 (Superior rating).
Staff noted that certain indicators (asset ratio and debt-to-property value) were affected by recent bond sales and might remain below maximum for several years as bond proceeds and debt schedules change. The board recorded questions but took no vote on the presentation; staff will continue to monitor and report these financial indicators in subsequent board reports.
