The Federal Funding Accountability and Transparency Act (FFATA) is a law passed in 2006 and amended in 2008. The intent of the law is to increase the availability of public information related to federal spending. FFATA applies to new federal contracts or grants issued on or after October 1, 2010. The law requires prime awardees to report information on subcontracts or sub-awards greater than or equal to $25,000.
Lyford Consolidated Independent School District is committed to providing transparent financial information to all stakeholders. Financial operations information is presented in a user-friendly, understandable format. As part of this process, we have created this website to provide direct access to school data and key financial information.
We believe in providing our citizens with data necessary to make informed decisions regarding the financial stability of our district. The following summary is from the Governmental Fund Statements in the District’s Comprehensive Annual Financial and Fiscal Audit Report for the year ending August 31, 2016. Financial information is presented in total for the year and per student, including expenditures by major object codes such as payroll, contracted services, supplies, other operating costs and capital outlay. In addition, revenues are presented by categories which include property taxes, and other local, state and federal monies. Full-time equivalent (FTE) personnel represent a calculation of the total number of employees working for the District stated as full-time positions only.
As part of the 84th Legislature, House Bill 1378 was created with the goal of increasing transparency relative to local government debt. Lyford Consolidated Independent School District debt summary derives from the Governmental Fund Statements in the District’s Comprehensive Annual Financial and Fiscal Audit Report for the year ending August 31, 2016. Debt information is presented as the total outstanding obligation and the per capita amount. Population estimates are provided by the Municipal Advisory Council of Texas (TMR Report).