Megan Navarro
DRIPPING SPRINGS — Dripping Springs ISD received its highest score on the Texas Financial Integrity Rating System of Texas (FIRST) this year, according to a presentation by chief financial officer Randy Rau at the board’s Oct. 27 meeting.
The state's school financial accountability rating system is designed to ensure that Texas public schools are held accountable for the quality of their financial management practices and that they improve these practices, according to the Texas Education Agency. 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.
FIRST originated with Senate Bill 875 of the 76th Texas Legislature in 2009 and was later revised by House Bill 5 of the 83rd Legislature in 2013 to include a process for anticipating future financial solvency of the district, Rau said. School districts are required to prepare a FIRST Financial Management Report, as well as advertise and hold a public meeting to discuss the rating.
The FIRST rating system consists of 21 base indicators — four are deemed critical, 10 relate to solvency and seven relate to financial competence. The indicators measure the following: compliance with audit reporting; timely debt and employee benefit related payments; healthy fund balance levels and activity; relationship of district revenues to expenditures; and accuracy of student attendance estimates and consistency of staff ratios.
For the 2024-25 rating, which is based on 2023-24 data, DSISD scored 100 out of a possible 100 points and received an “A” rating, surpassing last year’s numerical score of 98. This shows that the district is financially strong, explained Rau.
“That’s a rating of Superior. It’s an improvement over last year’s [score],” Rau said. “It highlights the district’s continued focus on responsible management and strong financial oversight. The district maintains a healthy fund balance of approximately $49.6 million; it’s more than five months of operating costs and there are no questioned costs or findings in the daily operations.”
Trustee Rob McClelland pointed out that the district’s total assets are outpacing the liabilities, even with the construction that is happening, which, he said, is "extremely positive.”
“Five-percent increase in our total assets [and] only 1% increase in liabilities. Our net position in millions has increased by … 21%. These are all extremely healthy signs of a strong financial district,” he said. “It’s reflected in our FIRST rating, but also, it’s reflected in the actual financials in which we are operating. I think our charge going forward is to maintain that.”
According to trustee Kim Cousins, getting this high score is exciting, “like you passed your test and you got a 100,” adding recognition to the district’s finance team for the hard work that they do every day.
“This speaks for the job that you’ve done and I guess, as our board, the decisions that we’ve had to make,” Cousins explained, “but your guidance and your knowledge to help us make these decisions together, I think helped us in the long-run to get this 100 and you guys are great.”
Director of technology
Following closed session, the board also unanimously approved the appointment of Greg Hubanek as the new director of technology.
Hubenak joins DSISD from San Marcos CISD, where he served for 18 years as executive director of technology. Before his time in public education, he held positions at Time Warner Telecom, Cisco Systems and Verizon.
A retired Army National Guard officer, Hubenak spent two years as chief communications officer for the United States Army in Kosovo, overseeing communications, computing and information systems for a 2,800-person multinational task force, Kosovo Force, according to DSISD.
As DSISD’s director of technology, Hubenak will lead the district’s Technology Department, oversee strategic planning for technology systems and guide the development, implementation and use of technology across the district.
Hubenak is a graduate of Texas A&M University, where he earned a bachelor of science degree in electronics engineering technology.
He will begin his duties Dec. 1.
To see DSISD’s full FIRST report, along with those from other school districts, as well as learn more about the rating system, visit bit.ly/4oc3JJH.
