MISD has increased its efforts to provide transparent financial information for all stakeholders of the District. We are focused on presenting financial reports and relevant information in a format that is easily understandable and promotes transparency and accountability. Our goal is to provide our citizens and interested parties with the information necessary to better understand how their tax dollars are spent in support of student achievement.
Annual Financial Accountability Management Reports (FIRST)
The state’s school financial accountability rating system, known as the School Financial Integrity Rating System of Texas (FIRST), 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.
Comprehensive Annual Financial Reports (CAFR)
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 Comprehensive Annual Financial Report (CAFR) 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 CAFR is due to TEA on or before November 27 of each year.
The District is committed to providing a CAFR 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 CAFR 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.
Disbursement Reports (Check Registers)
In an effort to provide transparency, the District provides a current disbursement reports for the working fiscal year as well as a complete 12 month report for three prior fiscal years. These reports include the check date, payee, and check amount for each disbursement