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Clint ISD Maintains Financial Strength

Clint ISD Maintains Financial Strength
Posted on 01/20/2017
financial strength

Clint Independent School District continues to receive top ratings regarding its financial strength and fiscal performance. The District once again has earned a superior rating from the School Financial Integrity Rating System of Texas (FIRST). The district scored 94 points out of 100 possible points based on data for the 2014-15 fiscal year. The overall financial health of the district is considered for the rating and includes items such as cost and staff ratios and audit indicators. The FIRST rating system, developed by TEA, encourages fiscal responsibility while focusing on instruction allocations.

The District’s Annual Financial and Compliance audit for 2015-2016 was completed by the firm of Gibson, Ruddock and Patterson LLC. The district received a clean audit and there were no findings or indicators of accounting errors. According to the audit report, Clint ISD did see an increase in activities from the previous year by $13 million or 11.5 percent. The increases were related to technology initiatives, building improvements and compensation increases.

Clint ISD continues to sustain the District’s commitment to maintain an attractive and competitive salary structure. For the current school year, the Board approved pay increases from the midpoint of .5% for Administration, 1.5% for Teachers, Librarians and Nurses, and 2% for support personnel. The Superintendent elected not to receive an increase in pay this school year.

Clint ISD bond credit ratings are firm. Fitch Ratings for the District are stable at a AAA long term rating. Moody’s rating is also steady at A1. These ratings reflect the District’s stable financial position including healthy reserves and liquidity.

As reported in the audit, the District currently maintains a healthy fund balance of $40.9 million, an increase of $5.4 million from the previous year. Although the fund insures fiscal stability, the District does intend to reduce the fund balance for one time expenses in the coming year while maintaining prudent budgeting practices.

The District also earned an upgrade of Platinum, the highest, to the Texas Comptroller of Public Accounts Leadership Circle Award. This award is issued to local governments that meet high standards for financial transparency online giving taxpayers a transparent look at local expenditures.

To learn more about the Clint ISD Finances visit the transparency page at the following link: http://www.clintweb.net/board_of_trustees/tranparency