San Angelo City Council approves annual comprehensive financial report amid public concerns

During the San Angelo City Council meeting on March 18, 2025, council members approved the annual comprehensive financial report, a crucial document that outlines the city's financial health and future planning. The approval came after a thorough discussion about the city's pension obligations and the management of its financial assets.

City officials reassured residents that the city's pension plan, managed through the Texas Municipal Retirement System (TMRS), is in a stable position. They emphasized that TMRS pools assets for investment, which helps mitigate risks compared to single-employer plans, such as the fire pension, which require closer scrutiny due to their vulnerability to investment fluctuations.

Public comments during the meeting highlighted concerns regarding transparency and the accessibility of financial documents. Resident Jamal Schumer raised issues about internal controls within the city’s financial management, suggesting that some projects may not be adequately monitored. He called for more public discussion on financial matters, particularly regarding the costs associated with the city’s water department.

Another resident, Mary Coffey, echoed these sentiments, questioning the timeline for council members to review the audit before its approval. She advocated for greater citizen involvement in financial discussions, reminding council members that the community's needs should be prioritized.

In response to these concerns, council member Harry responded that the audit committee had reviewed the financial report weeks prior to the meeting, ensuring that the council was well-informed before the vote. He acknowledged the importance of public access to financial documents and the need for ongoing dialogue between the council and residents.

The meeting concluded with a unanimous vote to accept the financial report, marking a step forward in the city’s commitment to transparency and fiscal responsibility. As San Angelo continues to navigate its financial landscape, the council's decisions will play a vital role in shaping the community's future.