In fact, the district fell only three points short of a perfect rating in the system, which examines such factors as whether school districts received a favorable audit, have cash in the bank, and their administrative-cost ratio, Albritton reported.
“Financially, we’re still very stable,” the superintendent said during a brief public hearing on the rating, which the four board members who were present voted to accept.
GISD fell below a perfect rating in the areas of debt-related expenditures and the tax collection rate, Albritton said.
The school’s debt-related expenses totaled $655 per student, which exceeded the $300-600 level required for the highest number of points in that area, he said. The district’s tax collection rate was 97.72 percent, with a 98 percent mininum required for the highest number of points in that field, Albritton said.
School Business Mgr. Beverly Grimes said the district had no control over the collection rate.