By BARBARA GREEN
editor@bowienewsonline.com
For the 15th year in a row Bowie Independent School District has received a superior rating in the Financial Integrity Rating System of Texas.
The board of trustees conducted the required public hearing during their Monday night meeting. Chief Financial Officer Jonathan Pastusek made the presentation noting the district received 90 out of 100 points in the review of the 2016-17 school year.
The purpose of FIRST is to ensure school districts will be held accountable for the quality of their financial management practices and achieve improved performance in the management of their financial resources.
There are 15 indicators a district is scored on encompassing all aspects of financial practices from compliance with debt, cash on hand versus current investments, liabilities’ ratios, deficit budget and administrative cost ratios.
Pastusek said indicator 10 was the only one where BISD did not receive any points. It asks: “Was the debt service coverage ratio sufficient to meet the required debt service.”
He explained the district ratio was .9599 and BISD had a deficit budget in both the general fund and debt service fund which lowered the ratio.
Patusek said the board opted to not increase the debt service rate because for the past few years it has collected more than was needed.

Read the full story in the mid-week News.