Evaluating Financial Health
Evaluating Financial Health
ACC 230
April 15, 2012
Evaluating Financial Health
MISD 's first school opened in fall 1901, after holding a vote that totaled 103 out of 108 votes. The first school consisted of 200 students and 5 teachers, now 110 years later their enrollment is over 37,000 in its 46 different campuses. MISD has relied on their budget to maximize the student knowledge and retaining staff to fulfill the job.
Mesquite school district suffered along with many other school districts in the state of Texas in 2011 due to cuts in funding across the board. Each district chose which way would be to solve the problem. Dallas ISD offered retirement incentives, MISD choose raise freezes and other cuts in costs. MISD’s quest for excellence does not stop with its classrooms and staff the district received a “Superior” rating under the Financial Integrity Rating System of Texas, a financial accountability system for Texas school districts (Weaver and Tidwell LLP, 2011).
Mesquite School Districts Total Net Assets totaled $141,556,160 for year end of 2011 a 5.9 percent increase from 2010. The district’s 2011 general fund balance increased $8,307,349 from 2010 totaling $77,549,332 (Weaver and Tidwell LLP, 2011). In 2011 the district was able to decrease its liabilities by $19,628,436 from 2010, which was utilized in other areas hit by the funding cuts. At the end of 2011 the districts total assets increased $4,423,444 over the previous year (Weaver and Tidwell LLP, 2011). Overall this year the total cost of all governmental activities was $350,056,334 which on 25.1 percent was funded through property taxes.
Comparing one school district to another is important because it can show you where others a succeeding financially. Some areas to compare are; developing expectations, improve efficiency, and customer service. Developing expectations is important because it allows you to stay on track of the industry trends, aiming to be the first to expand
ACC 230
April 15, 2012
Evaluating Financial Health
MISD 's first school opened in fall 1901, after holding a vote that totaled 103 out of 108 votes. The first school consisted of 200 students and 5 teachers, now 110 years later their enrollment is over 37,000 in its 46 different campuses. MISD has relied on their budget to maximize the student knowledge and retaining staff to fulfill the job.
Mesquite school district suffered along with many other school districts in the state of Texas in 2011 due to cuts in funding across the board. Each district chose which way would be to solve the problem. Dallas ISD offered retirement incentives, MISD choose raise freezes and other cuts in costs. MISD’s quest for excellence does not stop with its classrooms and staff the district received a “Superior” rating under the Financial Integrity Rating System of Texas, a financial accountability system for Texas school districts (Weaver and Tidwell LLP, 2011).
Mesquite School Districts Total Net Assets totaled $141,556,160 for year end of 2011 a 5.9 percent increase from 2010. The district’s 2011 general fund balance increased $8,307,349 from 2010 totaling $77,549,332 (Weaver and Tidwell LLP, 2011). In 2011 the district was able to decrease its liabilities by $19,628,436 from 2010, which was utilized in other areas hit by the funding cuts. At the end of 2011 the districts total assets increased $4,423,444 over the previous year (Weaver and Tidwell LLP, 2011). Overall this year the total cost of all governmental activities was $350,056,334 which on 25.1 percent was funded through property taxes.
Comparing one school district to another is important because it can show you where others a succeeding financially. Some areas to compare are; developing expectations, improve efficiency, and customer service. Developing expectations is important because it allows you to stay on track of the industry trends, aiming to be the first to expand
References: Weaver and Tidwell LLP, (2011). Mesquite Independent School District Annual Financial Report found April 2011 at: http://mesquiteisd.org/departments/business/FinAudit2010-2011.pdf Weaver and Tidwell LLP, (2011). Garland Independent School District Comprehensive Annual Financial Report found April 2011 at: http://www.garlandisd.net/departments/business operations/documents/2011 Comprehensive Financial Report pdf.pdf