By Naxiely Lopez-Puente
Staff Writer
Valley Morning Star
EDINBURG — Hidalgo County commissioners passed a $308.6 million total budget earlier this week, cutting the tax rate by a half cent and bracing for a $6 million shortfall.
Of the $308.6 million total budget, about $220.3 million will go to the general fund budget, which covers maintenance and operations, and about $28.3 million will be used to pay the debt service.
Other budgeted monies include $22.7 million for the special revenue fund and $37.2 million for the enterprise fund.
And although the county’s financial outlook seems positive based on previous financial trends, there are several factors that could derail even the best laid plans.
“The only thing I’ll say is, ‘God bless us,’” County Judge Richard Cortez said Tuesday after a unanimous vote to adopt the budget. “We have a lot of uncertainties going forward with the courthouse being built; with two new courts coming up; potential aquirance of buildings.
“I hope we’ve done a good job in preparing this budget.”
UPWARD TREND
“The county’s financial position has increased over the past few years,” budget officer Sergio Cruz said in a letter to commissioners Sept 17.
Cruz noted that the county’s taxable values grew, on average, about 5.2% each year during the past five years. That’s a huge annual increase when compared to the five years before that, when the average growth was 0.8% per year.
“(It’s) an indicator that we are moving forward in a positive direction,” Cruz wrote, also noting that in 2019, the county grew by about 5.02% or the equivalent of $1.8 billion in taxable values.
Commissioners expect to levy $207.6 million in total property taxes in 2020. That’s a 3.1% increase when compared to 2019’s $201.3 million.
EDINBURG — Hidalgo County commissioners passed a $308.6 million total budget earlier this week, cutting the tax rate by a half cent and bracing for a $6 million shortfall.
Of the $308.6 million total budget, about $220.3 million will go to the general fund budget, which covers maintenance and operations, and about $28.3 million will be used to pay the debt service.
Other budgeted monies include $22.7 million for the special revenue fund and $37.2 million for the enterprise fund.
And although the county’s financial outlook seems positive based on previous financial trends, there are several factors that could derail even the best laid plans.
“The only thing I’ll say is, ‘God bless us,’” County Judge Richard Cortez said Tuesday after a unanimous vote to adopt the budget. “We have a lot of uncertainties going forward with the courthouse being built; with two new courts coming up; potential aquirance of buildings.
“I hope we’ve done a good job in preparing this budget.”
UPWARD TREND
“The county’s financial position has increased over the past few years,” budget officer Sergio Cruz said in a letter to commissioners Sept 17.
Cruz noted that the county’s taxable values grew, on average, about 5.2% each year during the past five years. That’s a huge annual increase when compared to the five years before that, when the average growth was 0.8% per year.
“(It’s) an indicator that we are moving forward in a positive direction,” Cruz wrote, also noting that in 2019, the county grew by about 5.02% or the equivalent of $1.8 billion in taxable values.
Commissioners expect to levy $207.6 million in total property taxes in 2020. That’s a 3.1% increase when compared to 2019’s $201.3 million.