Judson ISD earns top Schools First financial rating, board publicizes audit results
Summary
At a required public hearing, Judson ISD presented the Texas Education Agency'aligned Schools First financial report and announced a superior "A" rating for fiscal 2023'24; the board discussed key audit indicators and answered trustees' questions about potential impacts of a lower score on borrowing and refinancing.
Judson Independent School District announced a superior "A" Schools First rating for the 2023'24 fiscal year during a required public hearing, district staff said.
Superintendent Tom Fields opened the hearing and turned the presentation over to district finance staff, who walked trustees and the public through the Texas Education Agency'aligned Financial Integrity Rating System (Schools First). Presenter Miss Davis said the district submitted its annual financial report on time, received an unmodified audit opinion from external auditors, and recorded no material weaknesses or findings of material noncompliance in the AFR.
"We are very proud to share with you that Judson ISD has earned a superior achievement equal to an A for the first financial rating," Miss Davis said during the presentation. She told the board the score reflects performance across 21 TEA indicators, including timely AFR submission, cash-on-hand (the district received full points for that metric), current-assets-to-liabilities ratios and prudent long-term-liability measures.
Trustee Laura Stanford asked what a lower rating such as a B would mean for the district. Davis replied that a lower rating is taken into consideration when a district evaluates bond or refinancing plans, but it is not an automatic disqualification from debt markets. "Usually the first rating is used when the school district is considering more bond, debt or refinancing," she said.
The district also confirmed required public postings tied to the hearing: the AFR, related contracts, reimbursements for trustees and the superintendent, and other financial disclosures are available on the district website and linked in the board packet, Davis said.
The public hearing concluded with no audience questions and the meeting immediately transitioned into the regular board session. The presentation and related documents will be available in the board book and on the district website for public review.
Next steps: the board and administration will continue routine financial reporting and monitoring; any decisions about bond issuance or debt strategies would follow additional analysis and public processes.
