Each year, a school district must prepare its annual financial statements, have them audited by a licensed independent CPS firm, and submit the resulting audited annual financial and compliance report to the Texas Education Agency for review. The Annual Comprehensive Financial Report or ACFR, formerly called Comprehensive Annual Financial Report (CAPR), is due no later than 150 days after the close of a district’s fiscal year. Mansfield ISD’s fiscal year ends on June 30 and our ACFR is due to TEA on or before November 27 of each year.
The District is committed to providing a AFCR that goes beyond the minimum requirements of generally accepted accounting principles to provide a high quality document that is readily accessible and easily understandable to the general public and interested parties. Transparency and fiscal accountability are critical in today’s dynamic educational environment and the District strives to reach the highest standard in financial reporting. In an effort to continue to improve our financial reporting, the District submits our AFCR each year to the Association of School Business Officials International for consideration of their Certificate of Excellence in Financial Reporting as well as to the General Finance Officer’s Association (GFOA) for consideration of their Certificate of Achievement for Excellence in Financial Reporting.