McKinney, Texas — McKinney ISD has earned a perfect score of 100 and the Superior Achievement rating from the Texas Education Agency's School Financial Integrity Rating System of Texas (FIRST) for the 2023–2024 school year. It marks the 21st time in 22 years that the district has earned the highest possible rating.
"This achievement reflects our ongoing commitment to financial integrity, transparency and responsible stewardship of taxpayer dollars," said Dr. Dennis Womack, assistant superintendent of business operations. "We believe that managing resources with integrity and openness builds trust within our community and demonstrates our accountability to those we serve."
FIRST, established by the 77th Texas Legislature in 2001, drives school systems to enhance financial resources to provide the maximum allocation possible for direct instructional purposes. The ratings are based on annual financial reports submitted by school systems to TEA for the 2023 fiscal year. The reports are subsequently reviewed by the agency and a rating is assigned.
Each school systems receives a letter grade (A, B, C, or F) in the financial accountability ratings, along with a coinciding financial management rating: Superior Achievement, Above Standard Achievement, Meets Standard Achievement or Substandard Achievement.
Final FIRST ratings across the state for the 2023-2024 school year are as follows:
FIRST ratings are calculated using 21 financial indicators for both traditional school districts and public charter schools, such as administrative cost expenditures; the accuracy of a district or charter school’s financial information submitted to TEA; and any financial vulnerabilities or material weaknesses in internal controls as determined by an external auditor.
All Texas public school systems are required to share their financial accountability ratings with parents and taxpayers at a public meeting to discuss the financial report. Womack reported the district's rating during the October 28, 2024, meeting of the MISD Board of Trustees.