Most area schools receive A or B rankings for financial accountability

Most area schools receive A or B rankings for financial accountability
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LUBBOCK, Texas (KCBD) - The Texas Education Agency released their financial accountability rankings on Friday, judging how well local school districts handle their finances.

In our area, New Deal received an F, Cotton Center, Aspermont and Wilson received C rankings, and all our other districts received an A or a B.

Here's how the TEA explains their rankings:

The FIRST ratings are calculated using 15 financial indicators, such as administrative cost expenditures; the accuracy of a district or charter’s financial information submitted to TEA; and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor.

Ratings for 2018-2019 are based on annual financial reports provided to TEA by districts and charters for the 2018 fiscal year. The financial accountability system requires TEA to review the audited financial reports from all districts and charters.

A school district or open-enrollment charter is assigned one of four possible letter grades (A, B, C or F), as well as a coinciding financial management rating (Superior, Above Standard Achievement, Meets Standard or Substandard Achievement).

87 percent of Texas schools received an A ranking.

You can learn more and check the complete list of rankings at http://tea.texas.gov/index4.aspx?id=3864.

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