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Socorro ISD receives substandard FIRST rating; auditors issue clean opinion as district outlines fixes
Summary
Socorro ISD earned a 66-point FIRST score (substandard) for 2024–25, driven by a tax-rate calculation error and declines in cash reserves and enrollment. CFO David Solis said corrective controls and a balanced FY26 budget are in place; external auditors delivered an unmodified audit opinion and reported no current-year findings.
Socorro Independent School District officials told the Board of Trustees on Dec. 17 that the district received a 66-point Financial Integrity Rating System of Texas (FIRST) score — a designation of substandard achievement for the 2024–25 rating year. David Solis, the district’s chief financial officer, said the rating is calculated from 21 indicators based on fiscal 2023–24 data and that a material compliance error in the district’s calculation of its M&O tax rate (indicator 18) cost the district 10 points.
Solis said the district’s points also declined on solvency indicators tied to cash-on-hand and liquidity, noting that days of cash on hand fell from earlier highs to roughly 46.7 days and that expenditures exceeded revenues by about $46 million in fiscal year 2023–24. "For the 24–25 first rating,…
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