La Marque posts 1,250‑page financial packet as council presses for audits and accountability

La Marque’s finance team on Oct. 13 released a 1,250‑page accounting packet and an online tracking spreadsheet that staff said will let residents and council see reconciliation work and audit follow‑ups in real time.

Interim Finance Director Worth Ferguson told the council the documents would be posted on the city’s website the next morning and walked through a public dashboard that itemizes reconciliations, month‑by‑month reviews and remaining audit findings. ‘‘All 1,250 pages will be available online tomorrow morning,’’ he said, describing a penny‑to‑penny review of funds dating back several years.

Why it matters: The financial materials come as residents pressed the council during public comment about alleged accounting lapses, possible commingling of restricted revenue, and a $5,000,000 grant signed this summer. The new materials are intended to let citizens see, in Ferguson’s words, ‘‘what we've done, what we're working on, and how much progress we've made.’’ Council members and staff said the packet is the first step toward either narrower forensic reviews with a defined scope or continued, focused reconciliations that can be updated monthly.

What staff presented: The dashboard posted with the packet groups tasks into reconciliation batches (cash, investments, transfers, accounts payable and more), a ‘‘penny‑to‑penny’’ fund review across fiscal years, and a tab that will track recommendations from the city’s most recent financial audit and the timeline for implementing corrections. Ferguson and interim City Manager Barbara Holly said they will update the dashboard monthly and use it to prioritize any additional, scoped forensic work the council requests.

Council reaction and next steps: Council members pressed for plain‑language explanations and suggested regular public presentations so residents can see the work live. Mayor Keith Bell asked staff to meet with Nicholas Rokey, a resident who raised a series of financial allegations in public comment, and to brief council within two weeks on the items Rokey raised so staff can respond in detail.

What this does not yet show: Staff said the packet answers many questions but does not yet separate some pooled investment and fund accounts on the public dashboard; those account splits and the creation of new fund accounts are on the team’s short‑term to‑do list. Ferguson said some checks dating back several years had been voided as the team caught up; the public dashboard shows outstanding checks from roughly the previous four months and the team’s plan to void and reissue checks after 90 days where appropriate.

Budget context: Staff told council that a recent S&P Global ratings action downgraded the city’s bond rating to BB+ (from double‑A minus), a change the administration attributed to a rapid deterioration of available cash over the prior two years. Holly and Ferguson said they are working with bond counsel and consultants on a multi‑year recovery plan, and that several short‑term measures (land sale to the EDC, sale of surplus vehicles, and judicious use of impact fees and loans) are part of that effort.

The council asked staff to present the packet in a public, well‑advertised session at the next meeting so residents can hear the explanation face to face and submit questions. The spreadsheet and supporting documents were posted to the city’s financial transparency page on Oct. 14, 2025, per staff’s commitment.