TEA rates NISD’s financial system as Superior
Posted 06 - 27 - 2013




For the second year in a row, Nacogdoches ISD has earned the Texas Education Agency’s top rating for financial accountability.



The district received a Superior Rating through the Financial Integrity Rating System of Texas (FIRST). 



“We appreciate that the TEA’s FIRST rating system recognizes districts like NISD who strive to be good stewards of taxpayer dollars,” said  NISD superintendent Dr. Fred Hayes.



He attributed the stellar performance to careful financial management by the district’s board of trustees and staff.



“We seek to provide the best education possible through efficient use of the money we receive through local, state and federal sources,” Hayes said.



According to the TEA, the system holds “schools accountable for the quality of their financial management practices” and pushes them to strive for “improved performance in the management of their financial resources.”



FIRST ratings are based upon 20 indicators with NISD receiving a score of 67 out of a possible 70 points. NISD earned the top score in 18 indicators which applauded the district’s healthy fund balance; three-year, tax collection rate of 98 percent or greater; payment of debts on time; administrative cost ratio; and success of investments which met or exceeded the 3-month treasury bill rate.



The FIRST Superior Rating comes on the heels of the district’s fourth prestigious GOLD Leadership Circle Award presented by the Texas Comptroller.



The Leadership Circle award recognizes local governments and school districts that strive to meet a high standard for online financial transparency.



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