The Round Rock ISD Board of Trustees approved a $1.3048 tax rate at the regular meeting Thursday night. The approved rate reflects a general operating rate of $1.04 and a $.2648 rate for debt service, a $.0277 decrease from the previous year.
“This is a team that keeps the best interests of our community at the forefront by working diligently to ensure that our students and staff have the best resources possible, and that we remain fiscally responsible to our stakeholders and taxpayers,” Superintendent of Schools Dr. Steve Flores said. “Their work, along with our Board of Trustees, will continue to serve an integral role in our progress as the Destination District for Public Schools.”
Trustees adopted a $413.7 million budget in June that included a two percent salary raise for employees.
The board also recognized the Round Rock ISD for its Superior Rating from the Financial Integrity Rating System of Texas (FIRST), earning a perfect score in the rating system developed by the Texas Education Agency (TEA) to assess the quality of financial management.
“As a Board, we are united in our mission to provide our community with world-class educational resources while planning responsibly for the future of Round Rock ISD,” Board President Diane Cox said. “Our recognized business team allows us to do exactly that and maintain an outstanding reputation for financial management and transparency, which allows us as a Board and District to move forward with the services we offer our families.”
The FIRST rating system scores districts on 15 indicators in areas such as 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. It is the only school district 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 was 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.