Prosper ISD officials earned an A grade from the Texas Education Agency for financial management in the 2022-23 fiscal year.
The district board reviewed the ratings in a public hearing with Chief Financial Officer Michele Sese at its Nov. 19 meeting. PISD received a score of 94 out of 100. The TEA scoring levels are:
A, Excellent: 90-100B, Above Standard: 80-89D, Meets Standard: 70-79F, Below Standard: 0-70 “This report helps us tell our story,” Seese said. Said. “We’re doing a great job, but the challenging areas have to do with growth and the facility needs associated with that growth.”
overview
The Texas Financial Health Rating System, also known as FIRST, is published by the TEA. Measures the quality of a school district’s reporting and financial management to hold the school district accountable for its financial management.
Ratings are based on a variety of factors, including:
Relationship between revenue and expenses Relationship between assets and liabilities Published financial statements Explanation of cash on hand management expenses
Of the 20 metrics scored, PISD received a score of 4 out of 10 for the correlation between future debt payment requirements and property valuations. Seese explained that the district’s low score in this category is due to PISD’s growth and facility needs.
PISD achieved the same score last year due to the district’s rapid growth.
The full presentation of the FIRST report can be viewed here.
