Friday, April 19, 2024
"Tax by definition" by Alan Cleaver is licensed under CC BY 2.0
Better than expected sales tax collections mean the city of Gatesville will have about $500,000 more to spend on different projects around the city.
"Basically, our sales tax has come in really well – above our expectations," Gatesville Finance Director Mike Halsema told the Gatesville City Council during a Sept. 13 meeting. "We are proposing to transfer any excess revenue to the capital funds project to reduce expenses and debt."
City Manager Bill Parry said he wants to allocate those extra sales tax proceeds for the capital projects fund. One of the expenses that could be paid for from capital improvements might also include the purchase of police cars.
"We have in the past leased police cars, and we think there may be some advantage to purchasing vehicles," he said.
Other equipment could include a piece of machinery for street work referred to as a sheepsfoot roller
The Council approved the first reading of a budget ordinance approving adjustments to general fund revenues and expenditures of $500,000 and also allowed for adjustments to the airport fund revenues and expenditures of $419,046. Other readings are scheduled for Sept. 27 and Oct. 11. In the Council's information packet for the meeting, it was noted that the airport "experienced damages to hangars last fall.” The city's insurer (TML) authorized our claim to rebuild the hangars. The total cost of rebuilding was $419,046 which was not in the airport fund's budget, as the budget was adopted prior to damages.
Other capital improvements have included the replacement of some older equipment at the fitness center that had been there since the center opened in 2001. Other equipment at the center is also scheduled for replacement.
The budget amendment allows the city to put the extra sales tax revenue into the capital improvements fund, rather than adding it to the fund balance.
