Midland ISD Again Earns Highest Possible FIRST Rating
August 7, 2020 — Midland ISD's Financial Services department has earned a perfect score for financial accountability from the Texas Education Agency (TEA) for the second year in a row. The TEA conducts the Financial Integrity Rating System of Texas (FIRST) each year, and MISD earned a perfect score of 100 and an "A" rating.
"Financial Services continues to be strongly committed to transparency and effective fiscal management," Superintendent Orlando Riddick said. "Beginning in 2017, the district took steps to build a strong financial position, and Finance has worked hard to maintain that position. We continue to implement zero-based budgeting, take advantage of opportunities to pay off debt early and promote financial transparency through budget workshops."
A score of 100 out of 100 is considered a "Superior Rating." Two years ago, the district also received an "A" rating, but with a score of 92.
The FIRST report grades each district in the state on its financial management and solvency. Districts are rated across 15 indicators addressing debt management, administrative costs, investments, student to staff ratio, and fund balance. FIRST is designed to help schools manage their resources and maximize funding for instruction.