Post by mikesnyder on Dec 2, 2022 23:32:00 GMT
Discussion last night seemed like no one knew what our surplus cash number is. While I don't have the amount as of 12/1/22, I know what the amount was projected to be on 9/30/22. It was in our budget discussion. We, I mean, I had a lively conversation with the CFO because they were arguing their own numbers that were in the budget. I can only go by what is in the budget.
Here is the link for the people watching to our adopted budget.
www.huttotx.gov/DocumentCenter/View/1827/FY-2022-2023-Adopted-Budget?bidId=
Our unreserved fund balance was projected to be: $14,472,215. This in EXCESS of the 20% required amount of $3,319,355. I was thinking that it was $17.0M and that is with the 20%. Now, we also have a draw down on that in the budget. We have millions in unallocated professional services (which I still have not received an accounting of for the last year, so that makes me worried). So, an $8.4M transfer should easily be able to happen.
I did get confused when people bring up what about our Parks? Well, we have over $3.0M just sitting for park improvements. No one wanted to do anything with Parks as I asked and it didn't go anywhere.
Someone has said what about the road money, well the road bond money is separate from the general fund. We have $14.0M in road projects budgeted, sold $25.0M in bonds for those projects, and are 3 months into the fiscal year and behind already with the major project of the year not expected to start until May (which is 9 months into the fiscal year). So, we look to have sold a lot of bonds and are paying interest on those borrowed monies while they sit in an account.
And before I hear "rates are going up next year", I don't vote to borrow money on what I "think" will happen, but what I know will happen.
No one has to spend the General Revenue over 100% surplus. BUT, if we aren't going to spend some of it, then PLEASE stop trying to RAISE people's taxes when Hutto has plenty of money to spend, we just need people to get projects designed.
Here is the link for the people watching to our adopted budget.
www.huttotx.gov/DocumentCenter/View/1827/FY-2022-2023-Adopted-Budget?bidId=
Our unreserved fund balance was projected to be: $14,472,215. This in EXCESS of the 20% required amount of $3,319,355. I was thinking that it was $17.0M and that is with the 20%. Now, we also have a draw down on that in the budget. We have millions in unallocated professional services (which I still have not received an accounting of for the last year, so that makes me worried). So, an $8.4M transfer should easily be able to happen.
I did get confused when people bring up what about our Parks? Well, we have over $3.0M just sitting for park improvements. No one wanted to do anything with Parks as I asked and it didn't go anywhere.
Someone has said what about the road money, well the road bond money is separate from the general fund. We have $14.0M in road projects budgeted, sold $25.0M in bonds for those projects, and are 3 months into the fiscal year and behind already with the major project of the year not expected to start until May (which is 9 months into the fiscal year). So, we look to have sold a lot of bonds and are paying interest on those borrowed monies while they sit in an account.
And before I hear "rates are going up next year", I don't vote to borrow money on what I "think" will happen, but what I know will happen.
No one has to spend the General Revenue over 100% surplus. BUT, if we aren't going to spend some of it, then PLEASE stop trying to RAISE people's taxes when Hutto has plenty of money to spend, we just need people to get projects designed.
