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District Earns State’s Highest Fiscal Accountability Rating & Unqualified Audit Report

first logo Aledo ISD has received state recognition for its commitment to financial responsibility and management of taxpayer dollars.

Aledo ISD received an “A” rating for “Superior Achievement” under Texas’ School FIRST financial accountability rating system. The “Superior Achievement” rating is the state’s highest, demonstrating the quality of Aledo ISD’s financial management and reporting systems.

In fact, the District has received the highest rating for the past 15 years. For 2017-2018, the District received a score of 100. A score of 60 must be received to pass, with a score of 100 being the maximum that may be obtained. The 2017-2018 School FIRST rating is based upon an analysis of staff and student data reported for the 2016-2017 school year, and audited budgetary and actual financial data for the 2017 fiscal year ending August 31, 2017.

“We are very proud of earning the Superior Achievement Rating for the 15th consecutive year,” said Hoyt Harris, Aledo ISD School Board President. “We are diligent in our commitment to financial responsibility and this rating helps provide our stakeholders with evidence of our dedication to sound fiscal management and reporting.”

The primary goal of School FIRST is to achieve quality performance in the management of school districts’ financial resources, a goal made more significant due to the complexity of accounting associated with Texas’ school finance system. School FIRST holds school districts accountable for the quality of their financial management practices. The rating system also discloses the quality of local management and decision-making processes that impact the allocation of financial resources in Texas public schools.

The 2017-2018 School FIRST accountability rating system assigns one of four financial accountability ratings to Texas school districts, with the highest being A - Superior, followed by B - Above Standard, C - Meets Standard, and F - Substandard Achievement.

Aledo ISD Chief Financial Officer Earl Husfeld presented the School FIRST report to the School Board during the Monday, December 17, 2018 regular meeting.

The School Board was also presented the annual financial audit report of the District for the year ending August 31, 2018 during the January 22, 2019 regular Board meeting.

Kirk & Richardson, P.C. discussed the audit with the Trustees and reported that the District received an unqualified or “clean” opinion. The District has a consistent track record of receiving unqualified audit reports.

“Good financial management by your finance department and you as the board and the administration and throughout the district has put you in the position where you are now financially, and allows you to do the things you would like to do,” said Don Richardson of Kirk & Richardson, P.C.

As part of the annual audit, Aledo ISD’s accounting records and financial procedures and practices were examined and were found to be in compliance with generally accepted auditing and accounting standards accepted in the United States and set by the Governmental Accounting Standards Board.

Click here to visit the Aledo ISD website for a history of FIRST Reports. Also, click here to view School Board meeting videos in which these reports were presented.