NEWS
Comptroller moves money from Rainy Day Fund to State Highway Fund
Texas Comptroller Glenn Hegar announced today he recently completed the transfer of more than $2.91 billion into the State Highway Fund (SHF) and the Economic Stabilization Fund (ESF; commonly known as the “Rainy Day Fund”). Each fund received nearly $1.46 billion, or 50 percent of the total transfer.
“The Rainy Day Fund and the State Highway Fund are key components of Texas’ long-term economic success and help provide the foundation needed for our future growth,” Hegar said. “Texas is experiencing a strong economic recovery, and our population continues to boom as more and more people and businesses seek out the jobs and opportunities created here in Texas. It is critical that we continue to invest in the infrastructure needed to maintain our fiscal health and keep our economy growing while at the same time acknowledging the uncertainty that remains and setting aside dollars to ensure we are able to weather future downturns.”
The transfer amounts 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 transfer must occur within 90 days after the end of the fiscal year. When fiscal 2021 ended on Aug. 31, the ESF balance was $10.3 billion.
With this most recent transfer, the new balance will be about $11.4 billion, not accounting for currently outstanding spending authority of approximately $1.43 billion. The balance in the ESF will change as agencies spend down this remaining appropriation authority and investment earnings are realized.
Be alert, recent uptick in phone scams. Scammers are contacting people and falsely claiming to be law enforcement officers, alleging the individuals they contact face immediate arrest unless they provide payment in some form (i.e. gift cards, cash transfers, etc.).
Key Points:
* The Montague County Sheriff’s Office never solicits payments over the phone to resolve legal issues. Any communication requesting such payment is fraudulent.
* Scam Tactics: Scammers often use convincing language and may even impersonate real Deputies/ Officer’s or use spoofed phone numbers to appear legitimate.
* Protect Yourself: If you receive a call from someone claiming to be a Deputy or representative of law enforcement demanding payment, do not comply. Instead, hang up immediately and contact the Montague County Sheriff’s Office directly to verify the call’s authenticity.
* Vigilance is Key: Stay vigilant and cautious when answering unsolicited phone calls. Never provide personal or financial information to unknown callers. Discuss this warning with family members, especially seniors, who may be more vulnerable to these scams.
The Montague County Sheriff’s Office is committed to protecting our community from fraud and scams. By staying informed and exercising caution, we can collectively combat these deceptive practices and prevent financial loss.
If you have any questions or concerns, please do not hesitate to contact us.
Bowie Police Department
Bowie Police also reported a possible warrant phone scam and posted this message on its Facebook page earlier in the week.
An individual contacted the Bowie Police Department and advised that he had received a phone call from one of our officers. The conversation stated that a warrant was obtained for his arrest and he needed to turn himself into the Montague County Sheriff’s office. This department has not been calling individuals and advising them of warrants. If you receive a call, contact us at 940-872-2251 to confirm if the call is legitimate.
Calling all Montague County clubs, organization and community groups, if you would like to have a brief on your non-profit group included in the 2025 Montague County Visitor’s and Newcomer’s Guide free of charge please submit it to editor@bowienewsonline.com. Deadline is June 6. Please include i.e , regular meeting dates, locations, time, dues, and contact phone or email. Don’t miss an opportunity to be in this award winning publication.
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