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City finance director reports steady revenues; auditor gives FY25 'clean' opinion
Summary
Finance director John Locke reported Q1 revenues below proportional budget but improved sales-tax receipts and portfolio yields above benchmark; independent auditors issued an unmodified (clean) opinion for FY2025 and noted a roughly $41.3 million general-fund balance.
San Marcos finance staff and the city's auditors briefed council on March 31 on the city's financial position and audit results, offering context ahead of the FY2027 budget process.
Finance Director John Locke presented a quarter-one snapshot through Dec. 31, 2025: "For the general fund, the total revenue budget is a $123,000,000. The actual revenue brought in was 24 and a half million," he said, noting that collections typically lag because property-tax receipts come in January and February. Locke highlighted that sales-tax receipts…
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