NEWS
Texas Comptroller Glenn Hegar transfers $5.5 billion to state highway and Rainy Day funds
(AUSTIN) — Texas Comptroller Glenn Hegar announced today he has completed the transfer of about $5.48 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received about $2.74 billion, or 50 percent of the total transfer.
“These transfers into the ESF and SHF show the Texas economy remains strong and well positioned for continued growth albeit at a much more moderate pace than what we have seen in recent years,” said Hegar. “Although inflation has come down from the historic levels reached during the current administration, uncertainty remains in the global economy as consumers continue to grapple with elevated prices on everything from groceries to home and auto insurance, and geopolitical instability persists.
“That uncertainty is why lawmakers have safeguarded the Texas Rainy Day Fund and continued to invest in our transportation infrastructure. A healthy ESF balance provides a critical cushion against any future bumps in the road and gives the Legislature increased flexibility as they convene to tackle the critical issues important to Texans.”
The combined $5.48 billion severance tax transfers to the ESF and SHF are based on crude oil and natural gas production tax revenues in excess of 1987 collections. If either tax generates more revenue than the 1987 threshold, an amount equal to 75 percent of the excess is transferred.
In November 2014, voters approved a constitutional amendment allocating at least half of these severance taxes to the ESF, with the remainder going to the SHF for use on non-toll highway construction, maintenance and right-of-way acquisition.
According to the Texas Constitution, the ESF and SHF transfers must occur within 90 days after the end of the fiscal year.
When fiscal 2024 ended on Aug. 31, the ESF balance was $21.02 billion. With the most recent transfers, the new ESF balance is about $23.96 billion, not accounting for currently outstanding spending authority of approximately $486 million. The balance in the ESF will change as agencies spend down this remaining appropriation authority and investment earnings are realized.
Members of the Bowie City Council will meet at 6 p.m. on Aug. 25 to finalize the budget and conduct a public hearing on a proposed tax rate.
The ordinances adopting both the 2026-27 budget and the 2026 tax rate are on the agenda for action. The public hearing on the tax rate presents a rate of .5750 cents per $100 in property value, which is slightly higher than the 2025 rate that is .5430.
The new rate is projected to generate $2,990,998, compared to $2,703,176 from last year’s rate. This is the first significant change in the rate since 2019, when it was .5445 cents. The next year it went to .5447 cents, where it stayed until 2023, when it went to .5430 cents, through 2025.
A bid will be awarded for the Rock and Pillar Street drainage project. Wall Contractors will be recommended by the city engineer and staff review. The bid came in about $1.3 million, which was lower than the estimated $2 million. It is expected to straighten the channel and get this intersection reopened for traffic after more than a year of closure to collapse of a portion of the pavement on the street.
The council will consider stop signs regulating traffic flow around the Kingdom Ridge Subdivision next to the elementary school.
In the city manager’s report Bert Cunningham will provide information on the hazard mitigation plan, the 2025-26 audit preparation and the bid for the Rock and Pillar project.
Montague County Commissioners will adopt a budget and tax rate when they meet at on Aug. 24 in the courthouse annex.
The budget hearing will be at 8:30 a.m. Aug. 24, followed by a public hearing for the proposed tax rate at 8:45 a.m.
During the regular meeting at 9 a.m., there will be one final budget workshop for any last minute tweaks or changes, followed by adoption of the 2026-27 budget and 2026 tax rate.
The proposed tax rate is .4961 cents per $100 in property value, which is the same rate as 2025. Due to the increase in property values despite the same rate, the total tax levy on all properties will see a 3.64% increase.
A copy of the proposed budget is available on the county website at https://www.co.montague.tx.us/.
Several other financial related items are on the agenda. Accumulated comp time in the sheriff office and jail will be discussed. The commissioners also will consider any year-end expenditures utilizing any or the budget year contingency funds.
Other items on the agenda will include: Acceptance of the District Attorney’s 2023- 2024 and 2025 Chapter 59 asset forfeiture reports and authorize DA Katie Boggeman to sign them; imposition of optional fees from the Texas Department of Motor Vehicles for 2027; House Bill 3834 cybersecurity and AI training certification for state and local governments compliance reports; interlocal cooperation agreement between the Department of Public Safety and the county court and district court; review the sherif office application for sheriff immigration law enforcement grant program Senate Bill 8; consider distribution of state grant HB 3000; and consider using Real Estate Station LLC Agent Denise Thurman to sell 5.9 acres on the corner of U.S. 81 and State Highway 59.
It should be no surprise, the month of July is recorded as the hottest month on record for the country.
July wrapped up with seven straight days of 100 degrees or higher July 25-31. August also opened hot with the first 100-plus degree day on Aug. 3 and it has topped that marked through Aug. 19. On Tuesday the high was 107 degrees at the water plant, but in town thermometers recorded 108 and 109 degrees.It was expected to top that mark on Wednesday.
There was no rainfall recorded in July or in August. Bowie has only 21.71 inches for the year so far and Nocona has 22.35 inches.
Lake Amon Carter
Aug. 19 –
917.22 msl, 80.2% full
July 19 – 918.10 msl, 86.1%
Aug. 19, 2025 – 919.84 msl, 98.8% full
Lake is full at 920msl
Lake Nocona
Aug. 19 – 823.48 msl, 76.3% full
July 19 – 824.41 msl, 81.05%
Aug. 19, 2025 – 826.878 msl, 95.85%
Lake full at 827.5msl
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