Lake Travis ISD earns top A 'Superior' FIRST rating, citing strong cash position and clean audit

Lake Travis Independent School District received an "A — Superior Achievement" rating under the state’s Financial Integrity Rating System of Texas (FIRST), the board heard at its meeting.

A district presenter told trustees the district earned a score of 94 out of 100 and passed the critical indicators that would otherwise trigger an F rating. The presenter highlighted a clean annual audit and full points for internal controls and financial transparency, and noted the district has 103 days of cash on hand in its general fund.

The presenter said one area that reduced the district’s solvency points was its long-term liabilities relative to total assets. "Our debt ratio was above the threshold," the presenter said, adding that the gap reflects bond-funded capital projects that have not yet been completed and moved to the asset side of the district’s financial statements; the presenter said that will likely improve as new projects — notably a second high school — are completed.

Trustees asked for clarifications about several numbered FIRST indicators; the presenter confirmed indicators related to audit completeness, timely payments, and posting required financial disclosures were all passed. The presenter also noted that some indicators use lagging data tied to the 2023–24 fiscal year and that the district continues work to improve administrative cost ratios and other measures.

The district posted the full FIRST annual management report and related disclosures to its financial transparency website, the presenter said.

The board did not take formal action on the rating itself; the report was provided for the public record and trustee review.