Canton ISD receives Superior rating
Photo by Britne Hammons
Fourth grade students Ella Goodson and Rylan Matthews at Canton Intermediate school led the Invocation and Pledge of Allegiance, respectively, during the Oct. 17 school board meeting.
Canton ISD has received a Superior Achievement rating in the Financial Rating System of Texas, scoring 96 out of 100 points. The rating was based off the 2014-’15 school year.
“The district operates very efficiently,” said Denise Stone, business director for Canton ISD. “We have received a superior rating since the 2002-’03 school year.”
The district received four points off because of the ratio of long-term liabilities (debt) to total assets of the district. The ratio would have to be high enough to support long-term solvency.
“At the end of the year the district had over $40 million in debt and our total assets were $51.5 million. We would have to be $36 million in long-term liabilities to get the maximum score,” Stone said. “But we are getting close to getting to that number.”
Superintendent Jay Tullos then updated the board on the activities of various programs throughout the district.
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