The Round Rock ISD Board of Trustees approved a $1.2348 tax rate at the regular meeting on September 26. The approved rate reflects a general operating rate of $0.97 and a $0.2648 rate for debt service, which is a $0.07 decrease from the previous year.
“We have a phenomenal finance team who is dedicated to strategically planning the financial future of our District and ensuring our staff and students have the resources needed while remaining responsible to our taxpayers,” Superintendent Steve Flores, Ph.D. said. “The work they collectively do every day is instrumental to the success of our growing District and we applaud them for continuing to exceed the standard of excellence our community expects. Our Board of Trustees also contributes to this success through their leadership and oversight of our financial reports.”
Trustees adopted a $445.4 million budget in June that included a 3.5 percent salary raise for employees.
The Board of Trustees also recognized Round Rock ISD’s finance team for the District’s Superior Rating from the Financial Integrity Rating System of Texas (FIRST). Round Rock ISD earned a perfect score in the rating system developed by the Texas Education Agency (TEA) to assess the quality of financial management.
This is the 16th consecutive year that the District has earned a Superior Rating from FIRST.
“We work together to serve our community stakeholders responsibly and do what is best for the students and staff in Round Rock ISD,” Board President Chad Chadwell said. “The Finance Department’s excellent financial management allows us to effectively and successfully plan for the future.”
The FIRST rating system takes into consideration district scores on 15 indicators. Areas of assessment include audit and governance disclosures; cash and investments; tax collections; fund balance; debt management; administrative costs; capital projects; and staff levels.
The District has had a long-standing reputation for superior financial performance. In addition to a Superior Rating, the District also received the Government Finance Officers Association Certificate of Achievement for Excellence in Financial Reporting. This recognition is based on the 2017- 2018 Comprehensive Annual financial report. The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting.
Round Rock ISD also remains the only school district out of 1,200 in the state of Texas to earn an AAA rating from both Fitch and Moody’s. The District has maintained an AAA bond rating from Moody since 2010 and received an AAA rating from Fitch Ratings in 2015. AAA is the highest bond rating possible which demonstrates the manner in which the District carries out its fiscal responsibilities.