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Round Rock ISD earns A in Texas financial integrity review, scores 96 of 100
Summary
Round Rock Independent School District reported a 96/100 score and an A (superior achievement) under Texas's Financial Integrity Rating System of Texas (FIRST) for the 2024–25 year. CFO/COO Dennis Covington reviewed each indicator, with the district passing all critical indicators; trustees asked a brief question about four missing points tied to Indicator 8.
Round Rock Independent School District reported a total FIRST score of 96 out of a possible 100 points for the 2024–25 year, earning an A, or "superior achievement," according to a presentation at the board's public hearing.
Dennis Covington, the district's chief financial officer and chief operating officer, told the board the district passed all four critical indicators (filing the annual financial report, receiving an unmodified audit opinion, meeting debt payment terms, and making timely payments to state and federal agencies). "We passed each and every one of those," Covington said during the presentation.
Why it matters: FIRST is the state's annual system for assessing school-district financial management. It groups indicators into critical, solvency and financial-competency categories and assigns a numeric score; failing any critical indicator triggers an automatic failing rating regardless of the numeric total.
Covington reviewed key solvency measures that contributed to the district's score. He reported a positive net position in government activities of $353,000,000 and 92.2 days of cash on hand, figures that earned full points on Indicators 5 and 7. The district also met the PEIMS-to-annual-report variance threshold and had no audit-reported material weaknesses or instances of material noncompliance, which satisfied Indicators 16, 17 and 18.
Indicator 8 (current assets to current liabilities) drew particular attention: Covington presented the district's ratio at about 2.23, which produced 6 of 10 possible points for that indicator and accounted for the roughly four-point shortfall from a perfect score. Trustee Guerrero asked for clarification about that shortfall and whether the ratio was closer to 2.3 or 2.53; Covington walked through the formula and the on-screen figures in response.
Covington also summarized required public disclosures for the 2024–25 year: outside compensation to the superintendent (none reported), gifts to the superintendent or trustees valued at $250 or more (none reported), required posting of reimbursements for travel and conferences (hotel, mileage, parking, flights, registration, meals and other reimbursements) and a link to the superintendent's contract. The presentation displayed a total listed for reimbursements to board members; the transcript's numeric formatting of that total was unclear in places, so the board packet should be consulted for the precise figure.
Trustee Landrum thanked Covington and his team for financial management work on an ongoing basis and recognized the district's 96-point score. The public hearing was adjourned at 5:45 p.m.; the board reconvened later for its regular meeting.
What remains: No motions or votes occurred during the public hearing portion. The district's presentation and screen materials contain the detailed computations and line-item figures that underpin the summary numbers presented to the board.
