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Gunter officials present tight budget, propose voter-approval tax rate and restore street fund
Summary
City staff presented an updated budget showing tight reserves and a proposed voter-approval tax rate (56¢); staff found and will restore funds previously misclassified that will reinstate a bare-bones streets budget and the council will finalize the budget on Monday.
Gunter city leaders presented an updated budget that staff said narrows a projected shortfall but still leaves little cushion for unexpected costs, and flagged an option to use the voter-approval tax rate (56¢) to fully cover the proposed expenditures.
At the meeting the chair (unnamed in the transcript) walked council members through revenue, expenditures and the mechanics of a tax increment-sharing agreement (TERS) that affects how developer-generated value is split. The presentation showed the city could collect more revenue under the voter-approval…
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