Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance School First topic
No spam. Unsubscribe anytime.
Waco ISD posts 'superior' 94 on School FIRST financial accountability report
Summary
Waco ISD received a School FIRST score of 94, a "superior achievement," but lost points on three solvency indicators tied to bond issuance and administrative-cost ratios. The board received the report during a public hearing and copies will be posted on the district website.
Cheryl Smith, the district's financial presenter, told the board the district earned a School FIRST score of 94 this year. "We got a 94 this year," she said, announcing the rating and describing it as "superior achievement."
Smith explained the School FIRST process and the 21 indicators that determine the rating, noting the district passed all four critical indicators. She said the district lost points on solvency indicators 11, 12 and 13: long-term liabilities to assets (about 0.6995 at Aug. '24), a debt-to-assessed-value correlation affected by recent bond issues, and an administrative cost ratio now at 9.66% (down slightly from 9.75% last year). Those shortfalls cost the district two points apiece on the solvency measures.
Smith said the reduction in a few solvency points is linked to the district's 22 and 23 bond issuances and that the district's finance team will continue monitoring those metrics. She offered printed copies of the School FIRST report and said the full report will be posted on the district website and available from the public information office.
