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Waco ISD earns A on state's School FIRST financial report; bond debt trims a few points
Summary
In a public hearing, Executive Director of Finance Sherry Smith said Waco ISD received an A on the 2024 School FIRST report (92/100). She told trustees recent bond issuances increased long-term liabilities and cost the district a small number of points on solvency indicators.
WACO ' In a public hearing Monday evening, Waco Independent School District's Executive Director of Finance Sherry Smith presented the district's 2024 Annual Financial Integrity Rating System of Texas (School FIRST) report and said the district received an A with a score of 92 out of 100.
"Tada, our score. So, we received an A, superior achievement. We received a score of 92 out of a 100," Smith said during the presentation. She explained the School FIRST framework uses 21 indicators (four critical, multiple solvency and financial-competency items) and that failing any critical indicator results in an overall failing rating.
Smith highlighted several strong measures: the district reported roughly 179.94 days of cash on hand, a…
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