The Texas Association of School Business Officials (TASBO) has announced that Magnolia ISD is a recipient of the 2026 Award of Excellence in Financial Management. Magnolia ISD is one of 34 educational organizations in Texas to meet the criteria for this year’s recognition.

The Award of Excellence, established in 2020, recognizes school districts, open-enrollment charter schools, and education service centers that meet specific professional standards and best practices in financial management and reporting. To qualify, applicants must submit documentation across 11 key functional areas, which are then reviewed by a TASBO accounting subcommittee.

According to TASBO, the 11 areas of evaluation include:

• Budget management

• Financial controls and processes

• Financial reporting and transparency

• Cash management

• Staffing and training

• Financial health analyses and projections

"These organizations have gone through a process of documenting their districts’ policies and procedures," said Tracy Ginsburg, TASBO Executive Director. "They have showcased the ways they monitor spending, improve budgeting, and implement controls."

The criteria for the award are based on financial accounting and reporting guidelines identified by the Texas Education Agency (TEA) Financial Accountability System Resource Guide (FASRG).