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District is in “Great Financial Shape”


Posted Date: 11/18/2020

District is in “Great Financial Shape”

Carlos Cascos, CPA, from Cascos and Associates, LLC,  presented the Raymondville ISD Comprehensive Annual Financial Report on Tuesday, November 10.  Cascos and Associates completed an independent audit of the District’s financial records to create the report. The key points from his presentation were:

  • The District received an unmodified opinion, or a “clean” report
  • Carlos Cascos stated the District is in “great financial shape.” (Mr. Cascos is a former Cameron County Judge and was appointed Texas Secretary of State in 2015)
  • Raymondville ISD fund balance is over $11 million. 
  • TEA recommends a fund balance above 75 days operating expenses, and the RISD fund balance is equal to 132 days operating expenses
  • Cascos reported that the District received $132,000 in revenues above what was budgeted and spent $1.2 million below the budgeted amount. According to Cascos, “this is an attribute to what the Administration and the Board did when it came to budgeting this fiscal year.”
  • The auditors found that every item tested was in compliance, and federal grants also received clean reports. Cascos stated, “everything we picked out to test was the way it was supposed to be….that’s a rarity.  (The District’s) internal controls are functioning properly.”
  • Cascos also shared that Raymondville ISD received the Government Finance Officers Association (GFOA) Certificate of Achievement for Excellence in Financial Reporting. 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.

CFO, David Longoria, also noted that Raymondville ISD earned Superior Rating (the highest possible rating) in the Financial Integrity Rating System of Texas (FIRST) and was awarded a Transparency Star from the Texas Comptroller of Public Accounts for going above and beyond in their transparency efforts.

Superintendent Stetson Roane said, “This report and the accolades from GFOA are a reflection of the hard work that goes on every day in our Business Office, and the high expectations of our Board of Trustees.”

Congratulations to our Chief Financial Officer Mr. Longoria and the Business Staff for receiving the certificate of achievement for excellence in financial reporting from the Government Finance Officers Association of the United States and Canada (GFOA).  The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting, and is attainment represents a significant accomplishment by the government and its management.

CFO, David Longoria, stated that none of this would have been possible without the hard work and dedication of the entire Business Department Team, the Superintendent’s leadership, and the Board of Trustees’ support.