Richardson ISD earns A on TEAs FIRST financial rating; public hearing held
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Summary
Finance staff presented the districts 2025 FIRST (Financial Integrity Rating System of Texas) report at a public hearing. Allison Davenport, the districts executive director of finance, said Richardson ISD earned an A with a score of 98; no board action was required.
The Richardson Independent School District board of trustees opened a public hearing Oct. 9 under Texas Education Code chapter 39 and 19 Texas Administrative Code 109.1001 to review the districts 2025 Financial Integrity Rating System of Texas (FIRST) report. Allison Davenport, the districts executive director of finance, told trustees the district received an A rating with a score of 98.
The hearing reviewed the FIRST indicators that drive the grade and the data used for the 2025 rating, which is based on 2024 financial statements. Davenport said the district met critical measures and scored strongly on liquidity and solvency metrics. Among the figures the finance team presented were a net position in governmental activities of about $80,000,000 and 164 days of cash on hand in the general fund.
"So we're very excited to announce that we have an A rating, a 98, financial rating for the 2025 FIRST rating," Davenport said. Mr. Pate, who presented alongside Davenport, praised the broader district staff for the outcome and reminded the board that the rating incorporates work across many departments.
Staff reviewed how the FIRST system divides indicators into critical, ceiling and point-based measures and noted one indicator that TEA did not score for the district. The presentation described point allocations on measures such as long-term liabilities to total assets, current assets to current liabilities, and timely submission of required reports. The district reported passing external-audit checks for material weaknesses and grant compliance.
Davenport also reported required public disclosures: the superintendents employment contract is posted on the district website, no outside compensation was reported for executives, no reportable gifts or business transactions between board members and the district were disclosed, and reimbursements and expenditures by district officers were available for review.
No board action was required after the public hearing; the hearing was closed with no public speakers in attendance.