La Marque finance director publishes large FY25 data dump as lenders press for cuts

La Marque’s finance director told the City Council on Oct. 27 that the city has published the first batch of fiscal-year-2025 financial records online and is using a public tracking spreadsheet to prioritize reconciliations and audit-response work.

Worth Ferguson said the materials — which include a trial balance, balance sheet, journal entries through August, department-level budget-to-actual reports and check registers — amount to about 1,250 pages and are available on the city website. He said staff also posted a short guide explaining how to read the documents.

Ferguson described a multi-tab spreadsheet that tracks reconciliations needed to close the fiscal year, the status of the FY25 audit (not yet started), and audit findings with implementation timelines. He said the administration plans to backfill public records to 2020 and to add prior audits so residents can see repeat findings.

“We are extraordinarily focused on trying to make sure people can see what’s going on,” Ferguson said, adding a public-citizen priority list generated in recent forensic-audit sessions will help convert questions into scopes for future RFPs. He cautioned, however, that some items are legally confidential and can only be provided in aggregate form.

Council members pressed Ferguson on apparent gaps in the city’s posted monthly financials and a missing stretch of check registers. Ferguson said the packet posted for the fiscal year through August contains the supporting documents and that staff would clarify labels on the website and fill gaps.

Ferguson also told council lenders reviewing a proposed tax loan have asked the city to identify additional cuts and revenue options; staff have begun identifying candidate reductions for later consideration but said nothing has been implemented.

Why it matters: Council members said access to clear, concise monthly summaries (showing which departments are over budget and how revenues compare to expectations) is critical for public trust and oversight. Ferguson said staff will provide a summary of over-budget line items going forward and is scheduling public informational sessions to explain the materials.

Next steps: Ferguson said reconciliations must be completed before the FY25 audit can begin; council scheduled follow-up and informational sessions for residents later in the week.

Quote: “If they can see it, they should be able to see it,” Ferguson said of published finance records. “There’s clearly been some trust loss between the city and the citizens and the city and council. We are trying to do what we can to address that.”