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Gunter mayor explains fund balances, TERS mechanics and debt schedule ahead of tax vote
Summary
The mayor presented FundView figures showing $7.9M in total funds, a $3.4M general fund, and explained TERS adjustments and upcoming bond payments while outlining reserve guidance and options to pay or refinance debt.
During a presentation before the public hearing, the mayor walked the council through the city's FundView worksheets, explaining the makeup of taxable values, TERS adjustments and projected levies. She said consolidated cash across funds is roughly $7.9 million while the general fund balance stands at about $3.4 million and recommended a reserve equal to roughly four months of operating expenses (~$1.3M).
The mayor also outlined the city's debt profile: principal and interest obligations for 2013, 2018 and 2021 series and noted that 2027-28 include higher payments. She said some bond/COs could be paid down or restructured in future discussions and cautioned that a deferred sale to Mustang (about $2.7M) is not immediately available.
