Bernal: Brownsville has record fund balance

Steve Clark, The Brownsville Herald, Texas
·1 min read

Jan. 28—Brownsville City Manager Noel Bernal, in his annual update presented this morning at the

Noel Bernal

Brownsville Events Center and organized by the Brownsville Chamber of Commerce, said the city's current $52.1 million unassigned fund balance (unaudited) is the highest fund balance on record for the city.

"On paper, liquidity-wise, we're very strong," he said.

Bernal attributed the city's sound financial position to a 20 percent increase in sales tax revenue for fiscal year 2021 rather than the 15 percent decline that was anticipated, plus pandemic relief funding through the Biden administration's American Recovery Plan and revenue from tax credits.

Noting that the city is required to maintain a fund balance equal to 90 days-worth of expenses in the event of a loss of revenue, he said the city was at 91 days at the end of fiscal year 2020 and today is at 167 days.

"We have a tailwind coming out of the pandemic financially," Bernal said.