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Schools FIRST

Schools FIRST. DeSoto ISD’s Report on Texas Education Agency’s F inancial I ntegrity R ating S ystem of T exas For the Year Ended August 31, 2011. Determination of Ratings.

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Schools FIRST

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  1. Schools FIRST DeSoto ISD’s Report on Texas Education Agency’s Financial Integrity Rating System of Texas For the Year Ended August 31, 2011

  2. Determination of Ratings • If a district answers NO to Indicators 1, 2, 3 or 4 – Or to BOTH 5 & 6 – It is an automatic Substandard Achievement. • Indicators 7-22 are awarded a point value based on performance. • 64-70 = Superior Achievement • 58-63 = Above Standard Achievement • 52-57 = Standard Achievement • <52 or No to 1 default = Substandard Achievement

  3. Restricted Fund Balance General Fund Balance 1 of 20 INDICATORS • Was the Total Fund Balance less Nonspendable and Restricted Fund Balance > 0 in the General Fund? “Does the DeSoto ISD have funds set aside for a rainy day?” YES - $6,005,876 - $329,663 = $5,676,213 > 0

  4. 2 of 20 INDICATORS • Was the Total Unrestricted Net Asset Balance In the Governmental Activities Column in the Statement of Net Assets Greater than Zero? “Do total assets exceed total liabilities?” YES – $62,912,689 > 0

  5. 3 of 20 INDICATORS 3. Were there No Disclosures in the Annual Financial Report and/or Other Sources of information concerning Default on Bond Obligations? “Does the DeSoto ISD make Bond Payments on time?” YES – Never Late On Bond Payments

  6. 4 of 20 INDICATORS 4. Was the Annual Financial Report filed within One Month of the January 28th Deadline? “Was the audit filed on time?” YES – January 11, 2011

  7. 5 of 20 INDICATORS 5. Was there an Unqualified Opinion in the Annual Financial Report? A “qualified opinion” means that the district needs to correct something in its reporting or financial controls. YES – Unqualified Opinion

  8. 6 of 20 INDICATORS 6. Did the Annual Financial Report NOT Disclose any instance(s) of Material Weaknesses in Internal Controls? “Did the DeSoto ISD have a clean audit?” YES – No Material Weaknesses

  9. 7 of 20 INDICATORS 7. Was the Three-Year Average Percent of Total Tax Collections (Including Delinquent) Greater than 98%? “Is DeSoto ISD keeping up with tax collections?” Yes - 100.008%>98%

  10. 8 of 20 INDICATORS 8.Did the comparison of PEIMS data to like information in Annual Financial Report result in an aggregate variance of less than 3 percent? “Does the district PEIMS submitted information match the Audit Report?” YES – There was ZERO variance – 5 Points

  11. 9 of 20 INDICATORS 9.Were debt related expenditures (Net of EDA Allotment) < $350 per student? (If the district’s 5 year % change in students ≥7%, or, if Property Taxes Collected Per Penny > $200,000) “Is DeSoto ISD spending money on education or fancy buildings?” Continued Next Page

  12. 9 of 20 INDICATORS continued 9. (cont.) NO - Debt related expenditures = $968.26 not < $350.00 NO - Five year percent change in students 6.16% not > 7% YES - Property taxes per penny of tax effort $210,029.68 > $200,000 5 - Points

  13. 10 of 20 INDICATORS 10.Was there NO disclosure in the Annual Financial Report of Material Noncompliance? “Did the district comply with the laws, rules, and regulations for a government entity?” Yes – No Material Noncompliance - 5 points

  14. 11 of 20 INDICATORS continued 11.Did the district have Full Accreditation Status in relation to financial management practices? “TEA did not take control of the district due to financial issues such as fraud or a negative fund balance.” YES – Full Financial Accreditation – 5 Points

  15. Budgeted Appropriations Budgeted Revenue Fund Balance 12 of 20 INDICATORS 12.Was the Aggregate of Budgeted Expenditures < Aggregate of Total Revenues, and Fund Balance? “Did the district not budget more than it could afford to spend?” $64,199,061 + $5,823,231 - $67,061,811 YES - $2,960,481 > 0 – 5 Points

  16. General Fund Balance Construction Fund Balance Aggregate Fund Balance 13 of 20 INDICATORS 13.Were construction projects adequately financed? (To avoid creating or adding to the fund balance deficit.) “Can the DeSoto ISD build new facilities without damaging the fund balance?” $6,005,876 + $14,964,759 = $20,970,635 YES - $20,970,635 > 0 – 5 Points

  17. 14 of 20 INDICATORS 14.Was the ratio of Cash and Investments to Deferred Revenues (Excluding Net of Delinquent Taxes Receivable) in the General Fund = or > 1:1? (If Deferred Revenues Are Less Than Net Delinquent Taxes Receivable) “Does the district have sufficient cash and investments to balance fund balance monies such as TEA overpayments (deferred revenue)? Continued Next Page

  18. Deferred Revenue Property Tax Receivable 14 of 20 INDICATORS continued 14. (cont.) $1,695,917 - $1,674,121 = $21,796 > 0 YES - $5,647,502 ÷ $21,796 = 259.11 ≥ 1 5 Points Cash in General Fund

  19. 15 of 20 INDICATORS 15.Was the Administrative Cost Ratio < the Threshold Ratio? “Did the DeSoto ISD stay under the cap of 12.5% as prescribed for a district of its size?” YES – 8.88% < 12.5% - 5 Points

  20. FTE Teachers Students 16 of 20 INDICATORS 16.Was the Ratio of Students to Teachers within the ranges shown below? *Range for ratio for districts with student population 5000-9999. Low 13 High 22. 9,165 ÷ 637.63 = 14.3735 YES – 13 ≤ 14.3735 ≤ 22 – 5 Points

  21. 17 of 20 INDICATORS 17.Was the Ratio of Student to Total Staff within the ranges shown below? *Range for ratio for districts with student population 5000-9999. Low 6.8 High 14. 9,165 ÷ 1,151.8497 = 7.9568 YES – 6.8 ≤ 7.9568 ≤ 14 - 5 Points Students FTE Total Staff

  22. 18 of 20 INDICATORS 18.Was the decrease in Undesignated Fund Balance < 20% Over 2 fiscal years or if Total Revenue > Operating Expenditures in the General Fund. AMENDED INDICATOR Is the district not “feeding off its fund balance” for things like salaries and operating costs?

  23. 18 of 20 INDICATORS continued 18. (cont.) General Fund August 31, 2009 Two Year Percentage Change General Fund Balance 2 Years Ago $9,664,698 - $5,676,213 = 41.27% NO – 47.27% ≥20% Total Revenues Expenditures in Difference General FundGeneral Fund $59,098,716 - $58,992,195 = $106,521 YES - $106,521 ≥ 0 - 5 Points

  24. 19 of 20 INDICATORS 19.Was the Aggregate Total of Cash and Investments in the General Fund > $0? “Does DeSoto ISD have money in the bank or investments?” YES - $5,647,502 > 0 – 5 Points

  25. Interest Earnings 3-Month T-bill 20 OF 20 INDICATORS 20.Were Investment Earnings in All Funds (Excluding Debt Service and Capital Projects) Meet or Exceed the 3-month Treasury Bill Rate? AMENDED INDICATOR “Is DeSoto ISD optimizing its cash and reserve funds?” YES – 0.3584% 0.095% 0.3584% ≥ 0.095% 5 Points

  26. 70 POINTS DESOTO ISD SUPERIOR ACHIEVEMENT

  27. QUESTIONS • Questions about 20 Indicators • Questions about additional disclosure information in packet • Questions about narrative information in packet • Questions about any other information related to FIRST rating or System

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