Carthage ISD has received an “A” rating for superior achievement in the Financial Integrity Rating System of Texas (FIRST) program for 2021-22, released today by the Texas Education Agency (TEA).
Created in 2001 by the 77th Texas Legislature, FIRST is designed to encourage public schools to improve their management of financial resources to provide the maximum allocation possible for direct instructional purposes.
“We are very proud of this superior rating,” said Carthage ISD Superintendent Jarrod Bitter. “This rating is a strong affirmation of our efforts to be responsible with the taxpayer dollars entrusted to us. I can’t say enough great things about Mrs. Worley and her team for their hard work and dedication managing the district’s financial resources.”
The FIRST ratings are calculated using twenty (20) financial indicators for school districts, such as administrative cost expenditures; the accuracy of a district’s financial information submitted to TEA; and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor.
Ratings for 2021-2022 are based on annual financial reports provided to TEA by districts for the 2021 fiscal year. The financial accountability rating system requires TEA to review the audited financial reports.
A school district is assigned one of four letter grades (A, B, C, or F), as well as a coinciding financial management rating (Superior Achievement, Above Standard Achievement, Meets Standard Achievement, or Substandard Achievement).
For more information, and a complete list of district ratings, visit the TEA Financial Integrity System of Texas webpage.