Finance Committee Report – Financial Transparency and Modernization
We received the report from the Texas State University Institute for Government Innovation. Their team reviewed how we manage and share our financial information and gave us a plan to make it clearer, easier to follow, and more transparent for the public. One of their main recommendations is to move to Incode 10, which will help modernize our systems and improve how we track and report spending. They also updated the Chart of Accounts, which is basically the framework that organizes how the city records money coming in and going out. These updates will make it easier to see where funds go and how projects are paid for.
Right now, the Finance Subcommittee is setting a meeting to review these materials and decide on a realistic timeline for making the transition. We want to move forward carefully—keeping transparency and accuracy our top priorities while making sure the staff has the training and time needed to adjust.
Typical Timelines:
Other cities about our size that have done this kind of update usually take six months to a year to complete the switch. It often starts with the general fund, then expands to utilities and capital projects. Taking it step by step helps keep things running smoothly and ensures reports stay accurate throughout the process.
We received the report from the Texas State University Institute for Government Innovation. Their team reviewed how we manage and share our financial information and gave us a plan to make it clearer, easier to follow, and more transparent for the public. One of their main recommendations is to move to Incode 10, which will help modernize our systems and improve how we track and report spending. They also updated the Chart of Accounts, which is basically the framework that organizes how the city records money coming in and going out. These updates will make it easier to see where funds go and how projects are paid for.
Right now, the Finance Subcommittee is setting a meeting to review these materials and decide on a realistic timeline for making the transition. We want to move forward carefully—keeping transparency and accuracy our top priorities while making sure the staff has the training and time needed to adjust.
Typical Timelines:
Other cities about our size that have done this kind of update usually take six months to a year to complete the switch. It often starts with the general fund, then expands to utilities and capital projects. Taking it step by step helps keep things running smoothly and ensures reports stay accurate throughout the process.
