Annual Financial Reports

The Annual Comprehensive Financial Report (ACFR) is a detailed and comprehensive financial report that provides a complete picture of a  school district's financial operations over the fiscal year. In Texas, school districts are required to prepare and submit an ACFR to the Texas Education Agency (TEA) in accordance with state regulations.
The ACFR goes beyond the basic financial statements included in the annual financial report, providing more detailed information on the District's financial activities and performance. It includes a management discussion and analysis section, which provides an overview of the District's financial performance over the fiscal year and information on the District's financial goals and strategies.
The ACFR also includes a detailed breakdown of the District's financial statements, including the statement of net position, the statement of revenues, expenses, and changes in net position, and the statement of cash flows. These statements provide a complete picture of the District's financial position, sources of revenue, and expenses, as well as information on cash inflows and outflows over the fiscal year.
In addition to the financial statements, the ACFR may include information on the District's compliance with state and federal regulations, such as the Texas Education Code. It may also include information on the District's long-term debt and pension obligations and other financial risks and uncertainties.
The ACFR is an important tool for the District's leadership to assess its financial performance and make informed decisions about future budgets and spending priorities. By providing a complete and detailed picture of the District's financial operations, the ACFR helps ensure that financial resources are used efficiently and effectively and that the District can meet its financial obligations and goals. It also provides transparency and accountability to the public, building trust and confidence in the District's financial management.

Government Finance Officers Association
The Government Finance Officers Association of the United States and Canada has awarded the Certificate of Achievement for Excellence in Financial Reporting to Mission CISD for its annual comprehensive financial report. An impartial panel has judged the report to meet the high standards of the program, which includes demonstrating a constructive "spirit of full disclosure" to communicate its financial story.
The Certificate of Achievement is the highest form of recognition in governmental accounting and financial reporting, and its attainment represents a significant accomplishment by a government and its management.
Annual Comprehensive Financial Reports