Goal 5: Focus on financial stewardship

Strategic targets

We will maintain an adequate fund balance to support educational excellence throughout the district.

We will maintain a strong financial position to provide resources for student success and competitive employee compensation.

We will ensure funding for facilities, capital improvements and district initiatives for the purpose of creating the best educational opportunities for our students.

Key strategic measures

  • School Financial Integrity Rating System of Texas (FIRST) rating from the Texas Education Agency (TEA)
  • External audit opinion on Annual Financial Report
  • Internal audit reports
  • Government Finance Officers Association (GFOA) and Association of School Business Officials (ASBO) Certificates of Excellence in Financial Reporting
  • Bond ratings from agencies
  • Fund balance - overall and unassigned
  • Capital Improvement Program (CIP) and Facilities, Furniture and Equipment (FF&E) schedule and funding
  • Financial reports to Board of Trustees

Strategies

Strategy 5.1: Prepare an annual operating budget that reflects the district's priority needs and maintains a fund balance of no less than three months of the operating budget.

Strategy 5.2: Develop a process to address external and internal audit findings and exceptions.

Strategy 5.3: Develop a process to monitor key leading financial indicators.

Strategy 5.4: Conduct a districtwide needs assessment to prioritize and monitor capital and instructional needs.