Changes are coming to the Charter FIRST indicators. If you are a growing school, many of those changes may impact your ratings. The draft Charter FIRST indicators, which are proposed to go into effect in 2020, expand the topics reviewed as a part of a charter school’s annual financial evaluation.
The current financial rating system is comprised of 15 indicators that assess a school’s solvency, sustainability and compliance with its commitments and its use of public funds. The proposed indicator list for the 2020 school year expands the number of indicators from fifteen to twenty-one, adding the following topics:
- Change in Net Assets,
- Maximum Annual Debt Burden,
- Debt to Capitalization Ratio,
- Average Daily Attendance,
- Financial Transparency,
- Budgeted vs Actual Revenues, and
- Geographic Boundary
Join us for a live webinar on Thursday, March 8th at 4 p.m. when we’ll walk through calculations for the draft indicators and discuss implications for charter schools. Register here in TCSA’s Learning Zone or email Laura Kelly at lkelly@txcharterschools.org.
