WC receives second financial transparency star
Weatherford College has earned a Debt Obligations Transparency Star by the Texas Comptroller’s Office, making it one of only two community colleges in the state to receive this distinction.
The Transparency Stars program acknowledges local governments for exceeding transparency standards.
In 2020, Weatherford College received the Traditional Finances Star, and this year, the college has been recognized for its outstanding commitment to transparency in debt obligations. The Texas Comptroller’s Office annually reviews the college’s website to ensure it continues to meet the criteria for the transparency star.
“Weatherford College is one of only two colleges or universities in the great State of Texas to earn two financial transparency stars,” said WC President Tod Allen Farmer. “We are also one of the few colleges to have no general obligation bond indebtedness, so we collect zero property taxes for our facilities. I am extremely proud of our fidelity to the taxpayer.”
WC currently holds $46.6 million in debt obligations, none of which are tax-supported. That has kept WC taxes significantly lower than the state average for community colleges (10.6087 cents vs. 16.05 cents per $100, according to a Texas Association of Community Colleges survey). The college’s last tax-supported bond occurred in 1996 for a $9 million bond, which was approved by voters.
“Weatherford College strives to promote financial transparency to keep its taxpayers, students, and other constituents informed of the financial health of the institution," said Dr. Andra Cantrell, executive vice president of financial and administrative affairs. "We are committed to further expanding our financial transparency as it relates to debt obligations, as proven with this most recent Transparency Star.”
For more information on Weatherford College’s financial transparency efforts, visit the college’s financial transparency web page here.