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Canutillo ISD drops to a B rating under FIRST as cash-on-hand and operating deficit cited
Summary
Canutillo ISD received a B rating on the Financial Integrity Rating System of Texas for FY24 data, a decline from prior superior ratings, driven primarily by low days of cash-on-hand and an operating deficit, finance staff told trustees.
District finance staff presented the Financial Integrity Rating System of Texas (FIRST) results (FY25 rating based on FY24 data) and reported a B ("above standard") overall rating after a decade of superior ratings. The presenter said three indicators were the principal drivers of point losses.
First, indicator 7 (solvency) earned 4 of 10 points because the district had 49 days of cash and current investments in the general fund; the threshold for full points is 90 days. Second, indicator 8 (current assets to current liabilities) returned 8 of 10 points as the ratio reported was 2.8 (the full-points threshold is 3.0).…
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