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Red Oak ISD retains "Superior" FIRST rating, falls two points to 98
Summary
Dr. Bill Johnston told the board Red Oak ISD scored 98 out of 100 on the Texas FIRST financial rating, keeping the district at the 'Superior' level despite a two-point drop tied to timing of cash receipts.
Dr. Bill Johnston presented Red Oak ISD’s Financial Integrity Rating System of Texas (FIRST) results for the 2023–24 cycle, reporting a score of 98 out of 100. Johnston said the district continues to meet the highest rating level — "Superior" — and walked the board through the 21 indicators that make up the score.
Johnston attributed the two-point drop to the timing of cash in the general fund at year end and other timing differences. "We had 56,000,000 of net assets, so we greater than 0, so we passed that," Johnston said while reviewing the district’s audited figures. He noted the district’s fund balance now covers roughly 111 days of operating expenditures and reported timely payments on bond obligations and other required payments. The presentation also cited a $175,000,000 bond issuance that will appear in long-term liabilities and a small reduction in one cash-based indicator that lowered the score from 100 to 98.
Johnston reviewed required disclosures included in the FIRST packet — audit submission dates, any outside compensation, gifts and business transactions — and confirmed those items were either posted or recorded as zero for the 2023–24 year. Board members asked clarifying questions about the audit schedule and the upcoming TEA filings; Johnston said the district will supply the required documentation and disclosures to TEA per the usual deadlines.
