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Lancaster ISD scores 88 on state financial rating; conservator and legal costs cited as point drivers
Summary
At a public hearing, Lancaster ISD finance staff said the district earned an 88 out of 100 — a B, "above standard" — on the Texas Education AgencyFinancial Integrity Rating System of Texas (FIRST) based on the 2022-23 audited financial statements; staff flagged conservator and board legal costs as factors that reduced points on one indicator.
The public hearing on Lancaster Independent School District—s Financial Integrity Rating System of Texas report opened at 5:32 p.m., where finance staff told trustees the district scored 88 out of a possible 100 points on the FIRST rating for the 2022-23 audited year, a B-grade the presenter called "above standard."
Dana Shaw Moseley, Lancaster ISD finance staff, told the board the rating is based on the 2022-23 audited financial statements and that the district "passed on indicators 1 through 6, 16, 17, 20 and 21." She said Lancaster had 238 days of cash on hand in the general fund at fiscal year end and reported a total net position in governmental activities of $20,203,855.
The rating framework, Moseley explained, covers compliance, liquidity and solvency measures and compares district audited results to 19 indicators. Moseley said Lancaster received full points on…
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