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San Benito posts healthy reserves; commission accepts 2024 audit
Summary
Finance director Stephanie Serenade presented second-quarter finances showing revenue growth and a large unassigned fund balance; external auditors reported an unmodified opinion and the commission voted to accept the audit.
Stephanie Serenade, the city finance director, told the San Benito City Commission on May 20 that the city remained in the “green” after the second quarter (January–March 2025) and reported rising sales-tax receipts.
“Our total assets as of March 31, 2025, were $20,279,214,” Serenade said during the meeting, and she reported quarter revenues of $4,006,798 and year-to-date revenue of $11,554,930. She also said sales tax for March rose 5.14% compared with the same month last year.
External auditor Alfred Barra, managing CPA with Gascals and Associates, reviewed the city’s annual audit for the year ended Sept. 30, 2024. Barra said the audit produced an unmodified opinion and highlighted a large unassigned fund balance in the general fund.
“You have $11,860,000 unassigned in the general fund,” Barra said, and he calculated that with the city’s daily operating cost, the balance represented roughly 266 days of operation—well above the 60–90 days many auditors recommend.
Barra also reported no findings in the auditor’s internal-control review and an unmodified opinion on compliance for major federal programs. He noted the limited sampling inherent in an audit but said nothing in testing raised concerns about the financial statements’ overall fairness.
After the presentations Commissioner Goodman moved to accept the audit; Commissioner Morales seconded. The commission voted “Aye.” The motion passed.
The finance presentation also included a department-by-department performance dashboard and a department-level note that no across-the-board budget increases were recommended at midyear. Serenade said departments made internal transfers when necessary but did not increase overall appropriations.
Commissioners asked clarifying questions about a cultural-arts department that appeared to be spending faster than others and about certain unencumbered balances that reflect outstanding purchase orders rather than spent cash.
The audit acceptance concludes the city’s formal review of fiscal 2024 and allows staff to proceed with submitting required material to award and regulatory bodies.
