San Elizario Independent School District issued the following announcement on Dec. 7.
The San Elizario Independent School District (SEISD) received a rating of "A" for "Superior" under Texas' School FIRST 2019-20 financial accountability rating system. The "Superior" rating is the state's highest, demonstrating the quality of SEISD's financial management and reporting system.
"We are very pleased with this rating because, in conjunction with having the lowest tax rate in the county for the 2019-20 year, it shows that SEISD is making the most of our taxpayers' dollars. This rating system shows that SEISD is held accountable not only for student learning but also for achieving these results cost-effectively and efficiently," said Norberto Rivas, Chief Financial Officer for SEISD.
San Elizario Receives a ‘Clean’ Audit
The SEISD's annual financial report issued in November indicated an unmodified opinion. The best available opinion that an auditor can provide regarding their examination of financial statements is an unmodified one. This opinion is very important for stakeholders because it lets them know that the information they are using is accurate to consider for their decision making.
Also, the SEISD's unassigned fund balance, which represents the difference between assets and liabilities, as of June 30, 2020, was approximately $10.4M, which translated to 98 days-worth of expenditures for the fiscal year ended June 30, 2020. The recommended fund balance level is at 2-3 months-worth of expenses. Despite the district's continuing trend of declining enrollment, more than $.50 of every dollar in the district's general fund spent on instruction.
Original source can be found here.
Source: San Elizario Independent School District
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