City Hall Training Room, 200 Old Annetta Road
Mid-year review: a $1.6 million general fund surplus, impact fees at 193% of budget, and $24.7 million in cash and investments
At its budget work session the council heard the city's financial profile and debt overview from Hilltop Securities, opened the FY 2027 budget discussion, and authorized hiring a director of development services.
The Aledo City Council held a budget work session May 28, 2026, in the City Hall Training Room at 200 Old Annetta Road, with Mayor Shane Davis and Councilmembers Ben Clark, Todd Covington, Matthew Poston, Melanie Allen and Summer Jones present. No one came forward during citizen appearances.
City Manager Candice Edmondson reported the general fund in a strong position at mid-year, with revenues at approximately 85% of budget and expenditures tracking at 50%, for a current surplus of approximately $1.6 million. Sales tax collections for both the general fund and the AEDC are ahead of projections, and property tax revenue has already exceeded the annual budget at the halfway point. In the water and wastewater fund, revenues exceeded expenditures by approximately $979,000 at mid-year and impact fee revenue reached approximately 193% of budget, while several wastewater operating accounts are tracking above budget because of operational and infrastructure needs. The debt service fund has revenues ahead of budget and sufficient resources for all scheduled obligations, and the economic development fund's sales tax revenue is at approximately 65% of budget with expenditures well below budget.
The second-quarter investment report put total cash and investments at approximately $24.7 million as of March 31, 2026, with nearly $200,000 in interest earned during the quarter, most reserves in highly liquid and secure vehicles, and bank deposits significantly over-collateralized. Erick Macha of Hilltop Securities presented an analysis of the city's financial profile and debt service, including current debt and maturity dates.
The council discussed the FY 2027 budget, covering the budget timeline, revenue forecast, council priorities, operations and maintenance, capital projects and the TIRZ fund, and took no action. After an executive session from 7:35 to 9:08 p.m. on the Dean Ranch development, downtown development and a city manager staffing study, the council voted unanimously to authorize the city manager to hire a director of development services. The meeting adjourned at 9:09 p.m.
Sources: City of Aledo: approved minutes, May 28, 2026 (CivicClerk); City of Aledo: agenda, May 28, 2026 (CivicClerk); City of Aledo meetings portal
How this was sourced: Primary documents: the approved minutes and the posted agenda of the May 28, 2026 meeting on the city's CivicClerk portal. Every vote, number and name above appears in those documents; the Ledger did not review a recording of the meeting. Public commenters who are not officials are not named. Written Sept. 4, 2026, for the archive.