The Tuloso-Midway Independent School District has received a "Superior" ranking in the Financial Integrity Rating System of Texas, trustees learned during a Monday school board meeting.
The district received a score of 75 out of a possible 80 in its FIRST report, which utilized information gathered during the 2008-09 school year. School districts need to receive 72 or more points in order to receive a "Superior" rating.
The TMISD received full points in all but one category, that involving debt related expenditures needing to be less than $350 per student. The passage of a $27.4 million bond election in 2006 played a role in that figure being higher than the state's mandate, said financial consultant Ricardo Rodriguez.
Interim Superintendent Sue Nelson said the district is still in good shape, however, since enrollment has increased from 3,383 students in the 2008-09 school year to a current level of about 3,500 students, and the district is continuing to pay off portions of its outstanding bond debt.
"We're heading in the right direction, because we're getting more kids and paying down our debt," she said.
In other news from Monday's meeting:
Nelson introduced the district's new business manager, Philip Carroll, to the Board of Trustees and administrators in the audience.
Carroll has worked for the Corpus Christi Independent School District for the past 17 years, eight of which he spent as the district's senior auditor. For the past nine years he has held the title of senior accountant at the CCISD.
Carroll replaces former business manager Joe Flores, who was hired to the position at the beginning of September, and officially began working for the TMISD on Sept. 20. Just one week after taking over the position, though, Flores submitted his resignation to Nelson because he had received a better paying job offer.
Nelson said Flores, who used to be the former chief financial officer for the Nueces County Action Agency and has experience as a school auditor, was not under contract and therefore was allowed to resign from the district without penalty.
The TMISD is still in the process of implementing about $120,000 in corrective measures after an independent audit presented in June showed "significant deficiencies" in the district's record keeping of how state and federal dollars are being spent and allocated.
Carroll will officially begin his new position with the TMISD on Nov. 8, Nelson said.