The new CFBISD budget triggers financial solvency review by TEA.

The new Financial Solvency Review provisions passed by the state legislature (HB 3) require that the TEA implement a review process to analyze district revenues and expenditures for the preceding school year, and projected district revenues and expenditures for the current school year and the following two school years. Additionally , if a district a projects a deficit for a school district general fund within the following three school years, to provide TEA interim financial reports, supplemented by staff and student count data, as needed, to evaluate the district's current budget status. A deficit is projected, a district develop a financial plan and submit the plan to TEA for approval To discourage a rapid depletion of a district's general funds balance, TEA must established an alert in reporting system.

The Board of Trustees should publish all financial reports, supplemental data and financial plan submitted to the TEA on the district web site.