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Waxahachie ISD CFO: district earns "Superior" Financial Integrity rating with 96 of 100 points
Summary
Chief Financial Officer Ryan Collins told trustees the district scored 96 out of 100 on the Financial Integrity Rating System of Texas (F.I.R.S.) based on 2022-23 audit and fiscal data, meeting all five pass/fail indicators and earning a "superior" rating despite two indicators not yet scored statewide.
Ryan Collins, the district27s chief financial officer, presented the Waxahachie ISD27s Financial Integrity Rating System of Texas (F.I.R.S.) results for the 2022-23 audit during a public hearing. Collins explained the rating uses 21 indicators drawn from audit and fiscal reporting and reported the district earned 96 of a possible 100 points, which constitutes a "superior" achievement.
Collins walked trustees through key indicators: the district passed all five pass/fail tests (timely submissions, unmodified audit opinion, no material weaknesses in internal controls, no material noncompliance, and no adjusted repayment schedule), had a 2.6% increase in fund balance over three years, and about 88 days of cash on hand for fiscal year 2022-23 (just shy of the 90 days that would yield the maximum points on that measure). He noted the district27s ratio of current assets to current liabilities and an 81.74% calculation on long-term liabilities to total assets that met the thresholds for maximum points on those indicators.
Collins said two newer indicators were not scored for the second consecutive year because the state has not yet defined scoring expectations. He attributed some statewide rating shifts to finance and budgeting pressures districts face generally.
On the overall result, Collins summarized, "Overall, the district, we are 96 out of possible 100 points... It is a superior rating and the district has earned a superior achievement every year since 2022, 2023 when the first rating came into effect." The presentation closed with staff offering to answer questions and the public hearing ending without additional public testimony.
Authorities cited in the presentation included the Financial Integrity Rating System of Texas as codified in the administrative code and references to state audit and fiscal reporting standards. The board did not take an action vote on the rating itself; the hearing served as the public presentation required by state rules.
