Annual Financial Reports
Texas school districts are mandated to annually submit a comprehensive Annual Financial Report (ACFR) to the Texas Education Agency in strict adherence to state regulations.
Going beyond basic financial statements, the ACFR provides an in-depth overview of the district's financial activities. Presented for the past two years, this report includes a pivotal section—the management discussion and analysis—offering valuable insights into financial goals, strategies, and overall performance.
The report meticulously breaks down financial statements, encompassing the district's net position, revenues, expenses, changes in net position, and cash flows throughout the fiscal year. Additionally, it may address compliance with state and federal regulations, long-term debt, pension obligations, and financial risks.
Functioning as a vital tool for leadership, the ACFR facilitates the assessment of financial performance, informs budget decisions, and aids in prioritizing spending. Its detailed information ensures the efficient use of resources to meet financial obligations and goals. Moreover, the report fosters transparency, accountability, and public trust in the district's financial management.
Government Finance Officers Association
Mission CISD has proudly received the esteemed Certificate of Achievement for Excellence in Financial Reporting from the renowned Government Finance Officers Association of the United States and Canada. This prestigious recognition celebrates Mission CISD's unwavering commitment to producing exceptional annual comprehensive financial reports, consistently showcasing their excellence in financial reporting for two consecutive years. The accolades specifically acknowledge the ACFR ending on June 30, 2021, as well as the ACFR ending on June 30, 2022.
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