Lewisville ISD recently received a rating of F in the Texas Education Agency’s annual preliminary Financial Integrity Rating System of Texas for school districts across the state. LISD is appealing the grade, saying it would have earned an A if not for a series of clerical errors.
“Lewisville ISD has received the highest possible rating in each of the 20 years TEA has rated the financial management of districts,” said LISD Superintendent Dr. Lori Rapp. “I am confident when the TEA reviews our appeal, our final rating in November will reflect the outstanding stewardship of taxpayer dollars for which our district is known.”
According to a district news release, the district inadvertently submitted an incomplete PDF document in January. The TEA notified the district of its mistake on Feb. 25, and the district submitted the complete annual audit on Feb. 28, one day after the deadline.
The FIRST system is designed to encourage Texas public schools to better manage their financial resources to provide the maximum allocation possible for instructional purposes. The other three school districts serving southern Denton County — Argyle, Denton and Northwest ISDs — all received A grades.