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| Spring ISD Earns Superior Rating in Financial Accountability |
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Spring, TX. For the seventh consecutive year, Spring ISD has earned a rating of Superior Achievement, the highest rating possible from the Financial Accountability Rating System of Texas, which is commonly referred to as School FIRST.
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Christine Porter, associate superintendent for financial services, said the main purpose of the rating system is to assess the quality of financial management in Texas public schools. The School FIRST rating system consists of 24 base indicators that analyze trends relating to financial management efficiencies. The first six indicators require a yes-or-no answer while the remaining indicators are assigned a point value. Each indicator is weighted equally with the exception of the first six. Failure to comply with any of the first six indicators results in a substantial penalty and a rating of Substandard Achievement. Spring ISD achieved the Superior Achievement rating with 23 out of 24 indicators receiving the highest possible response.
“When we make decisions concerning budget or accounting processes, we review the effect that they have on the potential results of the FIRST indicators. This allows us to ensure that we are maintaining a strong financial position,” Porter said.
The School FIRST report requires the district to disclose a copy of the superintendent’s current employment contract, a listing of any compensation and fees received by the superintendent from an outside entity in exchange for consulting or personal services rendered, a listing of certain reimbursable expenses incurred by the board or the superintendent, a listing of gifts valued above $250 that were received from outside vendors by the board, superintendent, or their immediate family members, and a listing of any business transactions between the board members and the district. A copy of the report is posted online on the finance page.
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Posted on Oct 12, 2009 12:07pm by admin
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