For the third month in a row, San Marcos has seen growth in sales tax revenues, with February collections increasing by 4.39 percent above last year.
The City of San Marcos received an increase of $54,063, for total sales tax revenues of $1,285,307 in February.
“San Marcos has been seeing an improvement in 2010 that we hope will continue into the future,” said Mayor Susan Narvaiz. “Our retail community is a substantial part of the San Marcos economy.”
Other cities in the area had the following results for February collections:
San Marcos 4.39 percent
New Braunfels 3.26 percent
Kyle 5.87 percent
Austin 5.54 percent
Seguin 1.27 percent
Round Rock 0.31 percent
Georgetown -5.09 percent
Sales tax collections represent 48.1 percent of the City’s General Fund revenues. For the fiscal year that started October 1, 2009, San Marcos sales tax revenues are down by 1.79 percent or $162,145 for the first six months of the budget cycle.
The City has a strong fund balance of 34.2% and has financial policies that closely track revenues and expenditures to respond to variations in revenues.Email | Print