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McGregor's cash position improves; council calls closed session citing legal and economic‑development statutes
Summary
Staff reported higher net cash compared with the prior year and fund‑level changes as of May 31, 2026; the council announced a closed session under Texas Government Code §§551.071 and 551.087 and later returned to open session with no action reported on one item.
The McGregor City Council received an update on the city's financial position on July 13, with staff reporting stronger cash levels and fund‑by‑fund changes as of May 31, 2026.
Lee (city staff) reported combined cash on hand was about $6.6 million higher than the same period last year. Staff reviewed fund results: the general fund net cash flow improved compared with the prior period (noting transfers and timing differences), the utility fund showed revenue gains tied to increased water use and budget adjustments, and the airport and exchange funds had small timing‑related variances. Staff also said that, as presented, the utility fund budget for FY2026–27 did not include a utility rate increase.
During the meeting the council announced it would go into a closed meeting at 7:25 p.m. under Texas Government Code section 551.071 (legal counsel) and section 551.087 (economic development). The council returned to open session and reported there was no action on agenda item 5; the meeting concluded with routine announcements and adjournment.
What happens next: staff will continue to provide financial details and follow up on council requests; certified appraisal values expected later in July will feed into final tax‑rate calculations and budget adoption timelines.
