Financial Policy

Overview

The Williamson County Commissioners' Court ensures financial stability within the County government by adopting proactive, responsible policies that allow the County to respond to growth and infrastructure needs while maintaining a high standard of County-provided services. This Financial Policy is intended as a guide for the members of the Commissioners' Court in evaluating the impact of policies and funding decisions on future County services. This policy reflects the Court's commitment to sound financial management principles and the Court's willingness to make difficult decisions to ensure the County's long-term operational and financial success.

Goal

The goal of the County is fiscal responsibility, decisions that consider near and long-term impacts, and sound and prudent financial operations. This is done while focusing on a commitment to honesty, reliability and accountability in all financial decisions.

Strategies

  1. Sustain ample cash balance reserve in order to maintain a favorable County bond rating, lower debt issuance costs and promote a solid fiscal position that can respond well to economic fluctuations.
  2. Continue proactive bond market strategies in order to issue voter-approved debt at the lowest possible cost.
  3. Manage fiscally responsible, balanced budgets which will help the County continue to provide high quality services while minimizing the financial impact on citizens and preventing higher costs to taxpayers in future years.
  4. Manage County growth responsibly while maintaining citizen satisfaction and supporting County government activities.
  5. Continue a proactive approach to addressing infrastructure expansion and maintenance by taking advantage of opportunities during periods of growth.
  6. Invest in appropriate technology that leverages analysis and reporting capabilities, maximizing investment yields, increasing efficiency and decreasing personnel costs.
  7. Employ effective risk management techniques and respond effectively to changing economic conditions.
  8. Assure financial transparency and accountability through regular internal audits and annual, independent audits.
  9. Continue to support GFOA standards and achieve excellence in the Comprehensive Annual Financial Report and the Popular Annual Financial Report.

Summary

The County has demonstrated consistency in its planning and execution of the above strategies and is poised to handle all economic events. The County has and will continue to follow conservative values and limit exposure to unnecessary risk. The Williamson County Commissioners' Court recognizes the need to effectively manage short and long-term financial matters. It will continue to act with speed in identifying early opportunities to re-prioritize projects and investments and adjust strategies where necessary. The Williamson County Commissioners' Court recognizes:

  • Cash flow is key to strategic flexibility
  • Early action is necessary to preserve capital
  • A periodic examination and possible restructure of operations will maximize resources
  • A focus on core activities is essential
  • Regular monitoring of financial and operational key performance measurements enhances efficiency and effectiveness

Download the Financial Policy (PDF)