Slide 1

1 Mercedes Independent School District August 31, 2008 Presentation on the Texas Education Agency School FIRST F inancial F inancial I ntegrity I ntegrity R ating R ating S ystem of S ystem of T exas T exas Slide 2 2 Table of Contents Page # FIRST Rating 3 New FIRST Requirements 4 FIRST Background 5 FIRST Rating System 6 Default Indicators 7 FIRST Indicators #1 to #24 8 - 31 FIRST Ratios 32 - 33 Disclosures 34 - 44 Slide 3 3 The Mercedes Independent School District earned a Superior Achievement rating. Slide 4 4 New FIRST Requirements Title 19 Texas Administrative code Chapter 109, Budgeting, Accounting, and Auditing Subchapter AA require the following: Prepare and distribute an annual financial management report Prepare and distribute an annual financial management report Disclose the current Superintendents Contract Disclose the current Superintendents Contract A summary schedule of total reimbursements received by the superintendent and each board member A summary schedule of total reimbursements received by the superintendent and each board member A summary schedule for the fiscal year of the dollar amount of outside compensation and/or fees received by the superintendent A summary schedule for the fiscal year of the dollar amount of outside compensation and/or fees received by the superintendent A summary schedule of the total dollar amount of gifts received by executive officers and board members A summary schedule of the total dollar amount of gifts received by executive officers and board members A summary schedule of total dollar amount of business transactions between board members and the school district A summary schedule of total dollar amount of business transactions between board members and the school district Slide 5 5 School FIRST Background School FIRST Background Senate Bill 218 of the 77 th Legislature (2001) authorized the implementation of a financial accountability rating system. Rating is for MISDs fiscal year ended August 31, 2008. The Texas Education Agency rated every school district on twenty-four indicators. Official results were released Wednesday, August 24, 2009. Slide 6 6 School FIRST Rating System School FIRST Rating System Rating is determined by the number of indicators answered NO. Superior Achievement 75-85 and Yes to indicator 7 Above Standard Achievement 65-74 or >=75 and No to indicator 7 Standard Achievement 55-64 Substandard Achievement