GCISD School FIRST Rating Report 2021-2022 Fiscal Year

 
School FIRST Rating Report
Based on 2021-2022 Fiscal Year Data
 
F
 
I
 
R
 
S
 
T
 
Financial
Integrity
Rating
System
Texas
 
School 
FIRST
 
Senate Bill 875 of  the 76th Legislature (1999)
Goal – Achieve quality performance in management of
district financial resources
District Requirements:
Prepare annual Financial Accountability
Management Report
Hold public hearing to discuss report and FIRST
rating
 
 
School 
FIRST
 
20 Base Indicators
Related to financial, student and staff data
Score of 90-100 for Superior Rating
GCISD received a score of 92
GCISD has received the top rating each year since inception of the rating
system 20 years ago
 
Critical
Indicators
 
Indicator #1
 – Audit report submitted
 in timely
manner
Submitted within 30 days after November 27th due
date
 
Indicator #2 
- Unmodified audit opinion and free of
material weaknesses in internal controls
Clean Audit- No Finding
s
 
Indicator #3
 - Compliance with Debt Agreements
All debt payments were made timely
 
Indicator #4
 – Timely payments to TRS and other
government agencies
All payments made in a timely manner and GCISD
was not issued a warrant hold on state funds.
 
 
 
Other
Indicators
 
Indicator #5
 – Not being scored for 2021-2022
 
Indicator #6
Average change in (assigned &
unassigned) fund balances over 3 years is less than
a 25% decrease
The average decrease over the last 3 years has been
7.29%
 
Indicator #7
 – Sufficient available cash and
investments to cover operating costs
$118.03 Million as of June 30, 2022
Sufficient to cover operating expenditures for more than
90 days
 
Other
Indicators
 
 
Indicator #8 & #11 
– Sufficient asset and liability
ratios
Short-term assets vs. short-term liabilities ratio:  2.37
Long-term assets vs. long-term liabilities ratio:  .6142
Ratios are within sufficient range to cover short-term
and long-term liabilities
 
 
Other
Indicators
 
 
Indicator #9
 – General fund revenues were equal to
or exceeded expenditures (excluding facilities
acquisition & construction)
Expenditures exceeded revenues by $6.9 million for the
year ended June 30, 2022
The District’s cash on hand exceeded 60 days.
 
Indicator #10 
– Not being scored for 2021-2022
 
Other
Indicators
 
Indicator #12 
– Correlation between future debt
requirements & assessed property value
Based on the 2021 assessed property values of
$16.6 Billion, the tax collections generated will
provide sufficient revenue to cover long-term
liabilities including outstanding bonds.
 
Indicator #13 
– Sufficient administrative cost ratio
8.73% District Ratio > 8.55% State Threshold
Compares expenditures of function 21-Instructional
Leadership and 41-General Administration as a
percentage of other instructional and student support
functions.
 
 
Other
Indicators
 
 
Indicator #14 
– Not being scored for 2021-2022
 
Indicator #15 
– Not being scored for 2021-2022
 
Indicator #16 
Variance between PEIMS
submission and audit report less than 3%
No variance
 
 
Other
Indicators
 
Indicator #17 & #18 
– Audit report free of any
instances of material weaknesses in internal
controls 
over financial reporting
 
and material
noncompliance for local, state, or federal funds
 
Indicator #19 
– Required notices were posted on
District’s website
 
Indicator #20 
– Discussion regarding changes
and/or impact to local, state, and federal funding at
a board meeting within 120 days before the
adopted budget
o
Funding discussed during budget workshops
 
School 
FIRST
 
FIRST Management Report
Annual Financial Accountability Management Report for 2022-2023
(based on 2021-2022 fiscal year data) with required disclosures is
available to the public on the District’s website (
Financial Services)
.
Slide Note

Tonight we are holding the public hearing to discuss the School FIRST Rating Report. The information presented tonight is from the 2021-2022 fiscal year. GCISD received a Superior Rating, which is the highest rating a district can receive.

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GCISD received a superior rating in the School FIRST based on 2021-2022 fiscal year data. The report highlights the district's financial integrity, compliance with Senate Bill 875, and achievement of top ratings for 20 consecutive years. Critical indicators such as timely submission of audit reports and clean audits were met. Additionally, indicators related to fund balances, cash availability, and asset/liability ratios reflect the district's strong financial management practices.

  • GCISD
  • School FIRST
  • Fiscal Year
  • Superior Rating
  • Financial Integrity

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  1. School FIRST Rating Report Based on 2021-2022 Fiscal Year Data Rating: Superior

  2. F Financial Integrity Rating System Texas I R S T

  3. School FIRST Senate Bill 875 of the 76th Legislature (1999) Goal Achieve quality performance in management of district financial resources District Requirements: Prepare annual Financial Accountability Management Report Hold public hearing to discuss report and FIRST rating

  4. School FIRST 20 Base Indicators Related to financial, student and staff data Score of 90-100 for Superior Rating GCISD received a score of 92 GCISD has received the top rating each year since inception of the rating system 20 years ago

  5. Indicator #1 Audit report submitted in timely manner Submitted within 30 days after November 27th due date Critical Indicators Indicator #2 - Unmodified audit opinion and free of material weaknesses in internal controls Clean Audit- No Findings Indicator #3 - Compliance with Debt Agreements All debt payments were made timely Indicator #4 Timely payments to TRS and other government agencies All payments made in a timely manner and GCISD was not issued a warrant hold on state funds.

  6. Indicator #5 Not being scored for 2021-2022 Other Indicators Indicator #6 Average change in (assigned & unassigned) fund balances over 3 years is less than a 25% decrease The average decrease over the last 3 years has been 7.29% Indicator #7 Sufficient available cash and investments to cover operating costs $118.03 Million as of June 30, 2022 Sufficient to cover operating expenditures for more than 90 days

  7. Indicator #8 & #11 Sufficient asset and liability ratios Short-term assets vs. short-term liabilities ratio: 2.37 Long-term assets vs. long-term liabilities ratio: .6142 Ratios are within sufficient range to cover short-term and long-term liabilities Other Indicators

  8. Indicator #9 General fund revenues were equal to or exceeded expenditures (excluding facilities acquisition & construction) Expenditures exceeded revenues by $6.9 million for the year ended June 30, 2022 The District s cash on hand exceeded 60 days. Other Indicators Indicator #10 Not being scored for 2021-2022

  9. Indicator #12 Correlation between future debt requirements & assessed property value Based on the 2021 assessed property values of $16.6 Billion, the tax collections generated will provide sufficient revenue to cover long-term liabilities including outstanding bonds. Other Indicators Indicator #13 Sufficient administrative cost ratio 8.73% District Ratio > 8.55% State Threshold Compares expenditures of function 21-Instructional Leadership and 41-General Administration as a percentage of other instructional and student support functions.

  10. Indicator #14 Not being scored for 2021-2022 Other Indicators Indicator #15 Not being scored for 2021-2022 Indicator #16 Variance between PEIMS submission and audit report less than 3% No variance

  11. Indicator #17 & #18 Audit report free of any instances of material weaknesses in internal controls over financial reporting and material noncompliance for local, state, or federal funds Other Indicators Indicator #19 Required notices were posted on District s website Indicator #20 Discussion regarding changes and/or impact to local, state, and federal funding at a board meeting within 120 days before the adopted budget o Funding discussed during budget workshops

  12. School FIRST FIRST Management Report Annual Financial Accountability Management Report for 2022-2023 (based on 2021-2022 fiscal year data) with required disclosures is available to the public on the District s website (Financial Services).

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