$28 million to enter Midland's general fund after voters turn away 4B sales tax

$28 million to enter Midland's general fund after voters turn away 4B sales tax

MIDLAND, TX (KWES) - On Saturday, voters shot down the idea of re-purposing the 4B sales tax. But now, there's another question. What is the city going to do with all of the tax money left over?

Right now, there's $28 million that will go into the city's general fund. That money is a surplus after paying off the sports complex. The city said there isn't any kind of plan of what to do with it.

"I don't think they [old city council] had any kind of idea how much money would be saved," said Midland Mayor Jerry Morales. "We have done a good job being responsible and building up a good saving account and we will be very frugal with those funds."

The general fund can be used for anything, water and sewage, repairing roads and even renovating parks.

"I would not recommend that to council," said Morales. "I would recommend that we dedicate that strictly for the sports complex and we could use a little bit of it for some of the park plan that we talked about. We need to upgrade some of the neighborhoods, we wanted to do Dennis the Menace [park], which was real bad. So we can use some of it for the parks but we definitely want to preserve that $28 million as long as possible."

Upkeep for the sports complex requires about $3 million per year. New turf for the fields can run up to $10 million. Morales expects the $28 million to only last six or seven years.

"I think we'll start looking into evaluating the marketing plan out there, sponsorships, the suite fees, parking fees, ticket fees," said Morales. "We'll just start evaluating and looking at all the fees and see if we can at least start getting ahead of this game and have a plan of action for the next couple of years."

The City council will start talking about what to do with the $28 million during the next budget session. The budget calendar has not been posted for this year, discussions typically start in late July. The sessions are open to the public.

Copyright 2017 KWES. All rights reserved.