Report: LISD 'superior' on state finance ratings
Longview ISD earned the state's highest grade of "superior" in preliminary finance ratings released Sept. 8.
"We did receive the superior rating on the FIRST report; however, the highest rating level is the standard we set for ourselves," said Lynn Marshall, Longview ISD's assistant superintendent of business, finance and facilities. "We expect to earn the superior rating every year. This rating is a reflection of our Longview ISD philosophy to be accountable not only for student learning but to do so with cost-effective measures to make the most of our taxpayers' dollars."
The Financial Integrity Rating System of Texas was created by the Legislature in 2001 and was designed to encourage public schools to better manage their financial resources to provide the maximum allocation possible for direct instructional purposes, according to the Texas Education Agency.
The rating system scores school districts on 15 financial indicators, such as administrative cost expenditures, the accuracy of a district's financial information submitted to the Texas Education Agency and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor.
School districts are given a numeric grade for the indictors. The numeric grades, when totaled, correspond to a letter grade of A, B, C or F. The letter grades correspond to the ratings "superior," "above standard achievement," "meets standard" or "substandard achievement."
Ratings for 2015-16 are based on data from 2014-15. The ratings that have been released are preliminary; final ratings will be released in October.