Laredo ISD reports A (superior) financial rating; board reviews indicators and discloses reimbursements

Laredo Independent School District officials announced at a Dec. 11 public hearing that the district earned an A (superior) rating on the School Financial Integrity Rating System of Texas, district presenter (Speaker 5) said.

The report, required annually and used by the Texas Education Agency when considering accreditation, summarizes the district’s performance across 21 financial indicators. "We are happy to announce that our district earned a rating of an A for superior," the presenter said, adding this was the 23rd time Laredo ISD received the rating.

The presenter explained indicators fall into three groups: indicators 1–5 are critical pass/fail items (including timely filing of the annual financial report and an unmodified audit opinion), indicators 6–14 measure solvency, and indicators 15–21 measure financial competence and internal controls. The district passed all critical indicators, the presenter said.

Among solvency findings, the presenter reported the district had 174 days cash on hand (indicator 6). The district’s current assets-to-current-liabilities ratio was 3.08, an increase from the prior year, which yielded an 8 out of 10 score on that measure. Revenues exceeded expenditures with a ratio of 5.68, earning a 10 out of 10 on that indicator. The ratio of long-term liabilities to total assets was 0.3414, below the 0.6 threshold referenced in the report; future-debt-to-assessed-value correlation was 3.7896. The district scored 10 of 10 on several measures and earned perfect scores on indicators 15–21, which assess data quality, internal controls and related items.

Trustee Speaker 6 asked for clarification about indicator 13, the administrative ratio; the presenter confirmed the reported figure and that the report was being presented that evening.

The presenter also detailed required public disclosures included in the report. A copy of the interim superintendent’s current employment contract is published on the district website and must remain accessible for 12 months, the presenter said. Reimbursements for the superintendent and board members for the prior 12-month period were listed as follows: Juan J. Ramirez, $6,892.83; Rudy Morales III, $4,666.45; Veronica Orduno, $4,791.11; Ricardo Garza, $2,575.97; Goya m Lopez, $5,388.78; Gil Martinez, $266.90; Monica Garcia, $1,090.20; superintendent, $9,005.06. The presenter said zero outside compensation and zero gifts were reported for the period.

No members of the public offered comments during the hearing. After brief procedural items and a request to hold communications updates until later in the meeting, a motion to adjourn the public hearing was made, seconded and approved by voice vote.

The district’s annual financial management report is available outside the boardroom and on the district website for the required period.