FORNEY, Texas – Forney ISD was notified by the Texas Education Agency (TEA) that the District has earned a ‘Superior Rating’ from the Financial Integrity Rating System (FIRST) for the 4th year in a row. In addition to the FIRST rating, Forney ISD received an A+ bond rating.
FIRST is the State of Texas school financial accountability rating system that ensures that Texas public schools are held accountable for the quality of their financial management practices and that they improve those practices. The system is designed to encourage Texas public schools to better manage their financial resources to provide the maximum allocation possible for direct instructional purposes.
“The ‘Superior Rating’ that Forney ISD received from the State of Texas is an incredible accomplishment and a validation for all of the hard work and dedication by the Forney ISD Board of Trustees and the Forney ISD Administration,” said Dr. Justin Terry, Forney ISD Superintendent of Schools. “The Board of Trustees have made it a top priority to take a fiscally conservative approach to managing district finances and ensure a healthy fund balance above the recommended average.”
The FIRST rating system includes 15 indicators to determine a school district’s overall FIRST rating. The majority of the indicators receive a 1 to 10 rating, with 10 being the highest rate possible, to determine how the district managed finances over the course of the year. Forney ISD received a rating of 10 in all but one category and earned an overall rating of 98 on a scale of 1-100. A District must earn an overall score of 90-100 to receive a ‘Superior Rating’.
In addition to the FIRST ‘Superior Rating’, the District also received an A+ bond rating, one of the highest bond ratings a school district can receive. A bond rating is a grade given to bonds that indicates their credit quality. Credit quality informs investors of a bonds credit worthiness or risk of default. Private independent rating services such as Standard & Poor's, Moody's Investors Service and Fitch Ratings Inc. provide these evaluations of a bond issuer's financial strength, or its ability to pay a bond's principal and interest in a timely fashion.
Forney ISD consists of seven elementary schools, two intermediate schools, two middle schools, two high schools and one learning academy.
For more information about the TEA FIRST ratings, visit the TEA website at https://tea.texas.gov/.
For more information about the Forney Independent School District, contact the Forney ISD Marketing and Communications Department at firstname.lastname@example.org or by phone at 972-564-4055.