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Sherman ISD Earns Highest Financial Rating from the State

Sherman ISD Earns Highest Financial Rating from the State

Sherman ISD continues to achieve the highest level of excellence for financial management and reporting.

The Financial Integrity Rating System of Texas (FIRST), established in 2001, is designed to hold Texas public schools accountable for their financial resources while ensuring maximum allocation for instructional purposes. Ratings for 2023-24 are based on annual financial reports provided to the Texas Education Agency by school districts for the 2022-23 fiscal year.

For the 2022-2023 fiscal year, Sherman ISD received 92 out of 100 possible points, giving the district an ‘A’ rating. For the last 20 years, Sherman ISD has maintained a superior or above standard rating.

"This achievement reflects our ongoing commitment to financial integrity and responsible stewardship of taxpayer dollars," said Chief Financial Officer Mandi Lewis. "By prioritizing efficient use of resources, we are able to maximize funding for instructional purposes and ensure the continued success of our students and schools."

TEA looks at a number of factors to determine FIRST ratings for both school districts and public charter schools, such as administrative spending, financial information accuracy, and financial weaknesses evaluated by an external auditor.

This year, 83 percent of school systems received an ‘A’ or superior rating for 2023-24.

All state public school systems are required by law to share financial rating information as well as host a public discussion regarding its current financial report. Sherman ISD will present its annual FIRST report at the December 16 Board meeting.

Read more about FIRST here.