The City of Round Rock is committed to transparency. Transparency provides citizens with information and promotes accountability.
This summary data is from the government-wide Statement of Activities in the City’s Annual Comprehensive Financial Report. The government-wide Statement of Activities reports the results of the City’s operations on an accrual basis of accounting. Revenues are recognized when earned and expenses are recognized at the time the liability is incurred.
The City of Round Rock is one of 887 members of the Texas Municipal Retirement System (TMRS), a statewide, multiple employer agent plan. In an agent plan, each participating government’s pension is centrally administered and governed by state statutes but the assets and related pension liabilities for each government are accounted for separately and any unfunded liabilities are solely the obligation of that government. TMRS’ defined benefit pension plan is a tax-qualified plan under Section 401 (a) of the Internal Revenue Code. TMRS issues a publicly available comprehensive annual financial report (CAFR) that can be obtained at www.tmrs.com.
The City’s current outstanding debt is comprised of general obligation (GO) bonds, certificates of obligation (CO) debt, limited tax notes, utility revenue bonds, sales tax revenue bonds, venue tax and hotel occupancy tax revenue bonds, and leases.
The City of Round Rock is committed to transparency. The goal of the City of Round Rock is to be an open government in all areas. The City is increasing its efforts in transparency as it relates to economic development programs and incentives supported by our tax dollars that are designed to attract industry and investment, create jobs and otherwise grow the economy.
The City of Round Rock participates in the Transparency Star Program developed by the State Comptroller of Public Accounts. The City practices the fair and equitable expenditure of funds on goods, services and construction projects following State and Federal Procurement Law. The City has applied for the Contracts and Procurement Transparency Star.