Texas’ so-called Rainy Day Fund is an emergency pool of money that comes from oil and gas taxes. The account has ballooned with Texas’ most recent oil and gas boom and has been turned to recently to shore up statewide water and road projects. State lawmakers established a minimum balance for the fund to make sure Texas always has some extra cash on hand.
On Election Day, Texans voted to put money generated from the severance tax on oil and gas towards the Texas highway fund. With 80 percent of the vote, proposition 1 was seen as a hugely popular push to fix Texas’ crumbling highway system. But falling gas prices means next year there might not be as much money available.
Baylor students participating in a course called the Philanthropy Lab donated $100,000 to local nonprofits today. The class evaluated over 60 nonprofits and distributed the money based on qualities that would help Waco like education, health, culture, civil rights and community development.
Waco’s World Hunger Relief farm works on projects to combat hunger around the world. And in Waco, the farm has created community gardens in vacant lots and local schools. As KWBU’s Jill Ament reports, the farm is getting ready to launch a new local project – aiming to make fresh fruits and vegetables an affordable and mobile commodity.