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AUSTIN, ɬÀï·¬ – November 6, 2023 – The ɬÀï·¬ Education Agency (TEA) today released final financial accountability ratings for ɬÀï·¬ public school systems. 88 percent received an ‘A’ or Superior Achievement rating for 2022-2023, exemplifying high-quality financial management practices.  

Established in 2001 by the 77th ɬÀï·¬ Legislature, the School Financial Integrity Rating System of ɬÀï·¬ (FIRST) encourages school systems to improve financial resources to provide the maximum allocation possible for direct instructional purposes. Ratings for 2022-2023 are based on annual financial reports provided to ɬÀï·¬by school systems for the 2022 fiscal year. These reports are subsequently reviewed by the agency and a rating is assigned.Ìý

School systems are assigned one of four possible letter grades (A, B, C, or F) under financial accountability ratings, as well as a coinciding financial management rating (Superior Achievement, Above Standard Achievement, Meets Standard Achievement, or Substandard Achievement).Ìý

Final FIRST ratings for the 2022-2023 school year are as follows: 

FIRST ratings are calculated using 20 financial indicators for both traditional school districts and public charter schools, such as administrative cost expenditures; the accuracy of a district or charter school’s financial information submitted to TEA; and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor.   

There are critical indicators that result in an automatic F or Substandard Achievement rating should a school system fail in that specific category – regardless of their overall score. Final FIRST ratings for charter schools operated by a public institution of higher education (IHE) are assigned separately. IHEs are assigned either a Pass o°ù Fail rating based on seven different indicators. For 2022-2023, six out of seven charter schools operated by a public institution of higher education received a final FIRST rating of P²¹²õ²õ.Ìý

All ɬÀï·¬ public school systems are required to share their financial accountability ratings with parents and taxpayers and host a public discussion or hearing regarding their financial report. To review the final 2022-2023 FIRST ratings for all school systems (plus view final FIRST ratings from previous years), visit the ɬÀï·¬School FIRST web page for school districts or Charter FIRST web page for charter schools.Ìý

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