The Big Lake Economic Development was formed to administer the sales and use tax approved by the citizens of Big Lake, Texas and collected pursuant to the Development Corporation Act of 1979 for the development, promotion, creation, retention or expansion of business enterprises that create or retain jobs, and for suitable infrastructure necessary to promote or develop business enterprises.
The Big Lake Economic Development uses the ½ cent sales tax funds for it's operating budget and is responsible for operating it's activities within the confines of the approved budget under the umbrella of the City of Big Lake. Because the ½ cent sales tax is a use of public funds, the State of Texas’ Open Meeting and Open Information Laws must be observed, this is accomplished by on-going monitoring of accounts and working in cooperation with the BLEDC and City Council to identify goals that ensure continued economic progress.
Reports are provided monthly to a seven member Board of Directors summarizing the previous month’s activities and the status of current sales tax receipts. As a barometer for the local economy, the BLEDC pays close attention to monthly sales tax receipts and make a concerted effort to adjust expenditures accordingly. All reports and records are audited annually by the firm of Eckert & Company, certified public accountants, in conjunction with the City of Big Lake.
Historical Sales Tax Allocation of Big Lake & Reagan County.