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Sheldon ISD earns 98/100 on Texas financial integrity rating; loses points for debt ratio
Summary
District finance staff told trustees Sheldon ISD earned a 98 out of 100 on the Financial Integrity Rating System of Texas (FIRST) for fiscal 2023–24, with 20 perfect indicator scores and a two-point deduction tied to the district's debt ratio. Staff provided audit materials and the superintendent's reimbursement and contract pages for review.
Sheldon Independent School District received a score of 98 out of 100 on the Financial Integrity Rating System of Texas (FIRST) for fiscal 2023–24, district finance staff reported during the board meeting.
Finance presenter Joel summarized the FIRST framework, saying it measures data quality and financial performance across 21 indicators that include audit report findings, fund balance, debt ratios and administrative cost ratios. "We have a total score of 98 points out of 100," Joel told the board, adding that the district secured perfect scores on 20 indicators and "lost the 2 points on 1 of the tests" related to the debt ratio.
The presenter explained the debt ratio compares total debt to the district's taxable value. "The maximum we can score is 10, but we scored already 8 because our debt ratio is even higher than what is normal for other businesses," he said, and noted that as property values improve the district could regain the two points.
Joel also noted state law requires several documents be provided with the presentation; he offered board members and taxpayers copies of the selected pages of the 2024 audit report, the superintendent reimbursement form and the superintendent's contract.
Trustees congratulated staff on the high score and noted the rating reflects recent financial decisions the district has made. The board did not take further action on the FIRST report at the meeting beyond receipt and discussion.
Background: FIRST is compiled by the Texas Education Agency and uses audited financial data to generate indicators intended to verify the quality of district financial reporting and measure fiscal performance against preset standards.
