Bastrop ISD Earns Superior Financial Rating from TEA
(Bastrop) – Bastrop ISD has received a financial accountability rating of “Superior Achievement” under the Financial Integrity Rating System of Texas (FIRST) for 2018-2019. FIRST is designed to encourage public schools to manage their financial resources so that the maximum allocation is directed for instructional purposes. Bastrop ISD spends nearly 70% of its $100 million budget on instruction and related services and has an administrative cost ratio of 5.48%, significantly less than the state’s recommendation of 8.55%.
“Bastrop ISD has a longstanding tradition of managing taxpayer funds with integrity and prudence, and this year is no exception,” said Superintendent Barry Edwards. “We have shown once again that we are accountable not only for student learning and academic performance, but also for achieving those results in an effective and efficient manner.”
The 2018-2019 ratings are based on 2017-2018 annual financial reports, which are examined by an external auditor on 15 indicators including administrative cost expenditures, accuracy, financial vulnerabilities, and weaknesses in internal controls. Districts are assigned a letter grade (A, B, C or F) and a rating of Superior, Above Standard, Meets Standard, or Substandard.
“We are very pleased with our School FIRST rating of Superior,” said Bastrop ISD Chief Financial Officer Sandra Callahan. “For 16 of the last 17 years we have earned a Superior rating through the hard work of district and campus leaders and others. I appreciate the diligence of everyone involved, including my own team in the Business Office, in making the most of taxpayers’ dollars.”
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