State downgrades Beaumont ISD's financial rating to substandard
The Texas Education Agency on Wednesday downgraded Beaumont ISD's financial accountability rating to "substandard" because the district failed to submit an audit report completed by an independent party.
Texas law requires school districts to have an outside firm complete an audit report within 150 days of the close of its fiscal year.
BISD never filed an audit for the 2012-2013 school year with the TEA, said DeEtta Culbertson, agency spokeswoman.
For that reason, the school district automatically failed the financial accountability test and received a substandard rating, Culbertson said.
More at http://www.beaumontenterprise.com/news/education/article/State-downgrades-BISD-s-financial-rating-5425539.php .
[font color=green]I guess that is what happens when over $4 million is embezzled.[/font]