2009-10-01 / Front Page

Lexington ISD Earns Superior Financial Rating

Lexington Independent School District officials announced that the district received a rating of "Superior Achievement" under Texas' Schools FIRST financial accountability rating system.

Superintendent Dr. Chuck Holt offered a report in a public hearing before the Lexington ISD School Board on Monday, September 21, 2009 that outlined the achievement of the district.

The FIRST rating system uses 21 indicators found through audit documents to validate a school's efficiency. Some of the indicators include administrative cost, total cost per pupil, instructional expenditures and investment earnings per student. The Superior Achievement rating is the state's highest financial accountability rating.

The acronym FIRST stands for Financial Accountability Rating System of Texas. This is the seventh year of the FIRST report and was developed to inform communities about the efficiency of their school districts.

The primary goal of the program is to achieve quality performance in the management of school districts' financial resources, a goal made more significant due to the complexity of accounting associated with Texas' school finance system.

Superintendent Holt stated, "Our district is financially sound, operating efficiently and making the most of our taxpayers' dollars. This rating shows that LISD's schools are accountable not only for student learning, but also for achieving these results costeffectively."

Holt continued, "The Schools FIRST system will guide us in our continued efforts to maximize each taxpayer dollar."

The School's FIRST accountability rating system assigns one of four financial accountability ratings to Texas school districts, with the highest being "superior achievement," followed by "above-standard achievement," "standard achievement" and "substandard achievement."

The FIRST report is available on the school's website for those interested in a detailed look.

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