Little bits of big news
City hires investment advisor
HUTTO — Hutto had nearly $500 million in cash assets at the end of June, according to city documents. Finance Director Alberta Barrett asked City Council at its meeting last week to approve hiring an investment advisor.
“We’d like to have some assistance in developing our cash flow projection, laddering those investments to when those projects need to be funded, have those mature at the time where we need to make those payments for those construction projects,” Barrett said. “There’s 51 projects, so there’s a lot of activity.”
The city approved hiring Virginia-based Valley View Consulting for a two year contract. The firm will be paid up to $117,500 between the two years. The firm would not have any discretionary control of the funds, they would only be providing data to help the city make better investment decisions.
“We do not hold the funds. That is the responsibility of the city. We don’t touch your money. Our role is to provide those opportunities and bring them to you,” said Jamie Hobbs with Valley View Consulting.
She said the company had worked with Hutto in the past to help the city secure a banking relationship. They also work with Georgetown, Round Rock and other cities in the Central Texas area.
Budget workshop this week
City Council will hold a meeting at 6 p.m. Thursday at 500 W. Live Oak to discuss the fiscal year 2025 budget. During this meeting departments will present their respective budgets to the council so that the governing body can “better understand specific department initiatives and their intentional ways of growth.”
If approved as originally presented, the new budget would raise taxes the highest amount allowed by law before triggering a requirement for voter approval.
Due to city growth, Hutto could lower the rate and receive the same amount of revenue from property taxes in 2025 as in 2024. But city expenditures have grown from $141 million in FY24 to a projected $165 million in the proposed budget.
City Manager James Earp presented the proposed budget at the August 1 meting. Additional budget discussions are set for Aug. 22 and Sept. 5, with adoption of the new tax rate scheduled for Sept. 6.
Back to school
School starts next week for Hutto Independent School District campuses, and with it comes increased traffic in all areas of town and an influx of young, inexperienced drivers near the high school. As in the past, the first few days of school are predicted to be hectic with drivers navigating drop-off zones, buses and crosswalks. Officials remind drivers to be aware of school zones back in effect.
Monday, Aug. 12, marks the first day of school for Veterans’ Hill Elementary. All other campuses start school on Wednesday, Aug. 14.
Elementary schools begin class at 7:30 a.m. and ends at 2:55 p.m. Middle schools start at 6:15 a.m. and end at 3:40 p.m. The high school starts at 9 a.m. and ends at 4:25 p.m.
