Coppell ISD’s Chief Financial Officer Diana Sircar updated the Board of Trustees on the district’s financial management report for the 2019-2020 school year at its Monday meeting.
Sircar said the financial rating came from the Financial Integrity Rating System of Texas which ensures that districts are financially responsible and encourages them to improve their financial management every year.
This is the first year that the system will implement 20 new indicators touching on items including financial transparency, debt liability, ensuring expenditures do not outweigh revenue and making sure significant variances are mitigated. Variances will be measured over the past three years.
Sircar said Coppell ISD received a perfect score and superior rating for its financial management. In addition to timely payments and filing reports on time, she said the district has had minimal variances in its revenue, fund balance and expenditures since the 2017-2018 school year, the district has not decreased in staff or students over the last three years, Coppell ISD has proven that it can pay its debt, it has maintained financial transparency and the districts revenue exceeds its expenditures.