Little Elm ISD Earns "A" Superior from State for Financial Accountability
November 16, 2021
For the 19th consecutive year, Little Elm ISD earned “Superior” for its financial accountability rating. The District has earned a letter grade of “A” which is the top rating from the State.
The State's school financial accountability rating system, known as the Financial Integrity Rating System of Texas (FIRST), was created to ensure that Texas public schools are held accountable for the quality of their financial management practices.
Five additional measures were added this year, bringing the total to 20 financial indicators. The FIRST rating assesses the administrative cost expenditures; accuracy of a district’s financial information submissions to the Texas Education Agency; and any financial vulnerabilities of material weaknesses in internal control as determined by the independent external auditor.
Little Elm ISD scored a 96 overall to earn the Superior rating. Ratings released for 2020-2021 are based on annual reports provided to TEA for the 2019-2020 fiscal year.
As required, the District published a notice of the public hearing which was held on November 15th at 5:30 p.m.