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Vernon ISD improves financial rating

The Texas Education Agency’s financial accountability ratings for the 2022-23 school year were released earlier this month with all area districts receiving passing marks. Districts are assigned a letter grade and a corresponding financial management rating.
The School Financial Integrity Rating System of Texas (FIRST) is designed to encourage districts to improve financial resources “to provide the maximum allocation possible for direct instructional purposes,” according to the TEA.
More than 90% of all Texas districts statewide received an A rating, or Superior rating. In this area, Northside ISD, Chillicothe ISD, Harrold ISD, and Crowell ISD all received a Superior rating. It is the second straight year with an A for Harrold and third straight year for Northside and Chillicothe to receive an A. While Crowell improved from a C last year.
Some 50 districts statewide received a B ‘above standard’ rating. There were 41 districts in Texas that received a C ‘meets standard’ rating. Those include Vernon ISD and Iowa Park ISD. Vernon improved from an F the previous school year in 2021-2022.
Eight districts in Texas, including Holliday ISD, received an F, or ‘substandard’ rating this time.
The FIRST ratings are calculated using 20 financial indicators, according to the TEA. Factors include administrative cost expenditures, the accuracy of final information submitted to the TEA and whether the district has any financial vulnerabilities in internal controls, as determined by an external auditor.

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