District News

WACO, TX (October 21, 2024) --Waco ISD began its new budget year with top honors from the Texas Education Agency for the way the district handles its money. Waco ISD holds a public meeting on the 2024 Annual Financial Management Report Thursday night and will share that Waco ISD received the Texas Education Agency’s highest rating of Superior. 

The Financial Integrity Rating System of Texas (FIRST) ratings are based on 15 established financial indicators including operating expenditures for instruction, tax collection rates, student-teacher ratios, and long-term debt. 

“Sound financial management is critical to achieving our long-term goals,” Waco ISD Chief Financial Officer Sheryl Davis said. “This rating is an acknowledgement of the District’s commitment to transparency and accountability in its financial operations.”  

Over 1,200 school districts and charter schools are rated. Schools receive one of four ratings: Superior, Above Standard, Standard, and Substandard. 

Superintendent Dr. Tiffany Spicer said Waco ISD is very proud to earn the highest possible FIRST rating again this year.

“This continuous achievement reflects the exceptional work of the Waco ISD Business and Financial Services Department, board of trustees, and employees in making sure local taxpayer dollars, state funds, and federal dollars are not only judiciously spent, but very well managed. This prestigious honor becomes more challenging each year as operational funds continue to shrink,” Spicer said. “I want to once again recognize the outstanding efforts of Waco ISD Chief Financial Officer Sheryl Davis and her staff, the oversight of the school board, and our employees who continually demonstrate a willingness to stretch every dollar as far as possible to make sure that our students have the best opportunities to succeed.”

The Texas Legislature created FIRST in 2001 to encourage public schools to better manage their financial resources. All school districts and charters are required to report information and financial accountability ratings to parents and taxpayers.

This is the district’s twentieth consecutive year to receive top financial ratings from the TEA. To review FIRST ratings for all districts and charters, go to https://tealprod.tea.state.tx.us/First/forms/Main.aspx.