Denton ISD Receives Highest Possible Financial Rating for 21st Consecutive Year
For the 21st consecutive year, Denton ISD has received the highest possible Financial Integrity Rating System of Texas (FIRST) rating from the Texas Education Agency (TEA). Denton ISD received an “A” superior rating for the 2022-2023 school year, receiving 98 out of a possible 100 points.
The state's school financial accountability rating system ensures that Texas public schools are held accountable for the quality of their financial management practices and that they improve these 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.
"For over 20 years, we have had the top rating that a district can have for financial management practices from the state of Texas," said Dr. Scott Niven, Denton ISD Deputy Superintendent/CFO. "That comes from the leadership of the Board of School Trustees and Superintendent of Schools, but it also comes from the hard work every day in the business operations office.
"Not only do they make sure items are recorded correctly, they oversee our budget and make sure everything is in compliance with state guidelines for financial management and accountability."
Over the last 21 years, Denton ISD has continually refinanced existing bonds as part of debt management practices the Board of School Trustees has used to lower the borrowing costs of taxpayers. Since 2005, this practice has reduced the cost of voter-approved bonds, resulting in $274.4 million in direct savings to district taxpayers.
In addition, Denton ISD has also lowered its tax rate each of the last five years. Since 2018-2019, the district has decreased its tax rate over $0.38. The district’s tax rate in 2022-2023 was $1.3446, and the Board of School Trustees adopted a tax rate of $1.1592 for 2023-2024.
Compared to the district’s tax rate of $1.54 five years ago, the $1.1592 tax rate for 2023-2024 saves the average homeowner more than $1,400 per year, since the median home price in Denton County is $370,000.