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The original item was published from 7/27/2021 2:35:53 PM to 7/27/2021 2:36:25 PM.

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Posted on: July 27, 2021

[ARCHIVED] Finance Department Receives Transparency Stars

Transparency Stars NF

TROPHY CLUB, TX (July 27, 2021) - The Town of Trophy Club is proud to announce that it is one of only 82 cities in Texas to receive its first transparency star through the Texas Comptroller of Public Accounts' Transparency Stars program.

In 2016, the Texas Comptroller of Public Accounts began a new initiative to encourage all county and local governments as well as school districts to provide greater transparency in their financial operations called the Transparency Stars program. Local governments were encouraged to provide clear and meaningful financial information in the areas of Traditional Finances, Contracts and Procurement, Economic Development, Public Pensions, and Debt Obligations. 

The program recognizes great breadth and depth in the information presented for each specific Transparency Star awarded, making each star a prestigious achievement. The Stars stand on their own and are not awarded along a continuum or with an expectation that entities should be attaining five out of five stars.

Transparency Stars are granted and maintained on an ongoing basis. The Comptroller’s staff conduct regular reviews of each awardee and may revoke an award should they determine an awardee’s transparency conduct is no longer in keeping with the program’s goals and intent.

For more information on the program, visit the Texas Comptroller of Public Accounts' Transparency Stars website.

The Town of Trophy Club has embraced this philosophy and began working to provide its residents with improved online financial information based on the program's requirements.  

Below is an overview of the Transparency Stars criteria and information regarding the Town of Trophy Club's financial transparency initiatives.

Traditional Finances 

Provides financial information pertaining to the Town's financial and budgetary reporting, including investment information and financial policies; also includes downloadable check registers and budget data

Contracts and Procurements

Gives information about procurement policies, current bid opportunities, and includes current and historical bid award information

Economic Development

Provides information on funding used to promote development within the Town.  Includes detailed information on various development projects and incentive agreements

Public Pensions

Provides information on the Town's employee pension plan, administered by TMRS

Debt Obligations

Provides detailed information about the Town's outstanding debt

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About Trophy Club's Finance Department

The Trophy Club Finance Department is committed to providing professional, accountable and strategic stewardship solutions that support the Town’s Vision, Mission, and Core Values. This mission is accomplished by ensuring transparent and sustainable financial practices and through the promotion of resident and employee engagement.  MORE>>

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