Assigned conservator no longer needed; LISD ‘poised for greatness'
LANCASTER - Lancaster Independent School District, known for its past financial troubles, is no longer in need of a financial conservator put in place by the Texas Education Agency to oversee the district’s finances.
Announced at their last school board meeting on Wednesday Sept. 8, the district began the 2010-2011 year with increased enrollment, two exemplary schools and most importantly, an improved financial position.
" In two years, the district has come a long way from where they were in June of 2008, when it became necessary for a TEA assigned conservator to oversee the school district’s finances," said new Superintendent Michael McFarland.
"We are proud of our progress and know that there is more work to be done."
James Damm, former interim superintendent for Wilmer/Hutchins ISD and the appointed financial conservator, applauded Lancaster ISD’s improvements.
"The process that worked here," he stated, "is how the process should work. There has not been a problem that I have addressed that has not been addressed by the LISD board or administrators."
Damm was assigned by the state to assess the district’s financial condition, assist in budget review and analysis or report monthly to TEA.
"LISD’s sound financial status compares to 80-90 percent of districts in this state," said Damm.
Quashing rumors the district is about to shut down, the district’s fund balance is approaching $4 million dollars according to a news release issued by the superintendent’s office.
"This district is poised for greatness," said Damm.