Crosby Independent School District’s finance team told the board it earned an A — a score of 96 — on the Texas Education Agency’s Schools FIRST (Financial Integrity Rating System of Texas) for the 2023–24 fiscal year. The rating, presented by CFO Robert Smith, reflects the district’s financial controls, solvency measures and compliance status as of June 30, 2024.

Smith said Crosby received an unmodified opinion on its annual financial report and met critical indicators required to avoid an F rating. “We did submit the annual financial report on time and received an unmodified opinion,” Smith said. The presentation highlighted 175.5 days of cash on hand in the general fund, well above the 90-day threshold tied to maximum indicator points, and noted two-point improvements on ratios tied to long-term liabilities and debt per $100 of assessed value.

The presentation explained that the Schools FIRST system comprises 21 indicators, including four critical yes/no items whose failure results in an automatic F, six ceiling indicators, and 11 additional indicators that together determine a score up to 100. Smith said the district scored additional points on indicators that measure reductions in long-term liabilities and debt ratios and earned full points on the attendance-derived ADA indicator that had not been scored during the COVID years.

Trustees commended staff for stabilizing district finances. A trustee noted this is the fourth consecutive A for Crosby ISD, and Smith credited steady debt paydown and timely statutory payments to TRS and other agencies for the favorable result. The district also opened the report’s required disclosures, noting the items the board is required to include in the annual financial management report.

Next steps: staff will file required disclosures and make the annual financial management report available as required by policy. The board formally accepted the related audit later in the meeting.