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City of Troup Financial Transparency

 


The City of Troup Receives Recognition for Transparency Efforts from Texas Comptroller

 

Texas Comptroller Glenn Hegar announced the City of Troup is the latest local government entity to achieve specific transparency goals through the Comptroller’s Transparency Stars program. The City of Troup received a star in the area of Traditional Finances, which recognizes entities for their outstanding efforts in making their spending and revenue information available. 

 

Transparency Stars recognizes local government entities that provide easy online access to important financial data.

 

“By providing meaningful financial data in addition to visual tools and analysis of its revenues and expenditures, the City of Troup has shown a true commitment to Texas taxpayers. This effort achieves the goals set by my office’s Transparency Stars program,” Hegar said. “I am pleased to award the City of Troup a star for its accomplishments.” 

 

The Comptroller’s office launched the Transparency Stars program in March 2016 to recognize cities, counties and school districts making important strides to greater government transparency. Local government entities can apply for stars in the areas of:

 

  • Traditional Finances,
  • Contracts and Procurement,
  • Economic Development,
  • Public Pensions, and
  • Debt Obligations.

 

After receiving an initial star for Traditional Finances, remaining stars may be awarded in any order. For more information on the program, including specific guidelines and information on how to apply, visit the Comptroller’s Transparency Stars website.

 

Traditional Finances Summary

The City of Troup is a City Government operating in the state of Texas. The most recently completed and audited fiscal year is October 1, 2016 until September 30, 2017. Total expenditures for that period were $2,475,137.00 or $1,339.00 per capita based on the 2000 census.

Total Revenues for the period from October 1, 2016 until September 30, 2017 were $2,486,984.00 or $1,345.00 per capita. Included in this revenue was $666,533.00 in property taxes and $373,441.00 in sales taxes. Property tax revenue was $360.48 per capita and sales tax revenue was $201.97 per capita.

The City of Troup employed 21 persons in full-time equivalent positions during the 2016-2017 Fiscal Year.
The City of Troup endeavors to provide its customers and taxpayers with complete transparency. Working with our software vendor, we have now been able to easily export our check registers in excel format to enhance the ability of the public to view and organize the data. Prior to this time, all previous check registers were provided as searchable pdfs.
The City of Troup recognizes that an informed public is an asset to the its citizens and customers.

In addition to the charts below, additional charts and detailed information is included in our current year budget document which can be downloaded here.









If you would like to contact the City of Troup or City Officials click this link for contact information.

Click here to view the Truth in Taxation Summary

To make an open records request, download this form.
You may make a request in person to:
Troup City Hall
106 East Duval
Troup, Texas 75789
or 
You may mail a request to:
City of Troup
PO Box 637
Troup, Tx 75789-0637
or
You may email a reqiest to:
Buffie Deason, City Secretary



You will need a pdf reader to view and search the pdf files. 
You may download free Adobe Reader Software by clicking this link or the icon below


 

Click Here to go to the webpage with all the Current Year Budget Information and downloads.


 
 
 
 
       
Check Registers
Fiscal Year 2010-2011
Fiscal Year 2011-2012
Fiscal Year 2012-2013
Fiscal Year 2013-2014
Fiscal Year 2014-2015
Fiscal Year 2015-2016
Fiscal Year 2016-2017
 
Current Fiscal Year
October 2017
November 2017
December 2017
January 2018
February 2018
March 2018
April 2018
May 2018
 
CITY OF TROUP PAYROLL
Clink Link to Download
Excel File
Fiscal Year
2010-2011
$788,484.77
Fiscal Year
2011-2012
 $772,104.58
Fiscal Year
2012-2013
 $734,341.47
Fiscal Year
2013-2014
 $742,884.22
Fiscal Year
2014-2015
$794,252.99
Fiscal Year
2015-2016
$825,008.44
Fiscal Year
2016-2017
$808,459.12
Fiscal Year
2017-2018
$593,394.05
Annual Financial Report
Year End Sept 30 2010
Year End Sept 30 2011
Year End Sept 30 2012
Year End Sept 30 2013
Year End Sept 30 2014
Year End Sept 30 2015
Year End Sept 30 2016
Year End Sept 30 2017
 
Budget Documents
Fiscal Year 2013-2014
Fiscal Year 2014-2015
Fiscal Yar 2015-2016
Fiscal Year 2016-2017
Fiscal Year 2017-2018
       
       
       
 
                                                                  
 
 
 
 
City of Troup Taxes Rates
Property Tax .912933/$100
Local Sales Tax .010
Local Economic Development Sales Tax .005

DEBT SERVICE

The debt service in the Water and Sewer Fund is for a note executed December 8, 2011, with a Maturity Date of December 1, 2015, to fund the purchase of wireless water meters in the original amount of $132,110.00. This debt has been retired.

The City of Troup owes $1,160,000.00 remaining principal balance on the 2013 Series Refunding Bonds with an annual interest rate of 2.92%. The bonds were issued April 16, 2013. The final bond payment is scheduled for August 1, 2029. Almost all of this debt was used to fund the new Water Tower. These are General Obligation Bonds which are repaid from property taxes. Click here to download a copy of the full information on the 2013 Series Refunding Bonds.


If you would like to know more about transparency in government, follow this link to the Texas Comptroller's website about transparency in government, Texas Transparency.org

PENSION PLAN

The City of Troup participates as one of 860 plans in the nontraditional, joint contributory, hybrid defined benefit pension plan administered by the Texas Municipal Retirement System (TMRS). TMRS is an agency created by the State of Texas and administered in accordance with the TMRS Act, Subtitle G, Title 8, Texas Government Code (the TMRS Act) as an agent multiple-employer retirement system for municipal employees in the State of Texas. The TMRS Act places the general administration and management of the System with a six-member Board of Trustees. Although the Governor, with the advice and consent of the Senate, appoints the Board, TMRS is not fiscally dependent on the State of Texas. TMRS’s 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. All eligible employees of the city are required to participate in TMRS.

Benefits Provided TMRS provides retirement, disability, and death benefits. Benefit provisions are adopted by the governing body of the city, within the options available in the state statutes governing TMRS. At retirement, the benefit is calculated as if the sum of the employee’s contributions, with interest, and the city-financed monetary credits with interest were used to purchase an annuity. Members may choose to receive their retirement benefit in one of seven payments options. Members may also choose to receive a portion of their benefit as a Partial Lump Sum Distribution in an amount equal to 12, 24, or 36 monthly payments, which cannot exceed 75% of the member’s deposits and interest. 
The contribution rates for employees in TMRS are either 5%, 6%, or 7% of employee gross earnings, and the city matching percentages are either 100%, 150%, or 200%, both as adopted by the governing body of the city. Under the state law governing TMRS, the contribution rate for each city is determined annually by the actuary, using the Entry Age Normal (EAN) actuarial cost method. The actuarially determined rate is the estimated amount necessary to finance the cost of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability.

Employees for the City of Troup were required to contribute 5.0% of their annual gross earnings to the pension plan. The City of Troup matches this contribution 150%.

To view and Download the latest GASB pension report, click here.

You have a right, within the law to request public records.

The following link presents you with a fillable and downloadable form and instructions for making your request.
If you would like to make an Open Records Request click this link.