The city of San Marcos has received sales tax collections of $1,439,064.34 for sales in October — an increase of $217,625.96 or 17.82 percent above October 2009.
“Sales tax revenues play an important role in providing a broad range of community services in San Marcos,” said Mayor Daniel Guerrero. “We are pleased that we are seeing strong numbers, as we continue closely monitoring this source of revenue.”
The city of San Marcos had a 14.4 percent increase in sales tax collections for the first two months of the 2010-11 fiscal year and has averaged 7 percent monthly over the last 11 months.
A number of Central Texas cities experienced smaller increases compared to October 2009, including Kyle at 11.95 percent, New Braunfels at 6.07 percent and Austin at 0.12 percent. Other cities saw reductions.
Area cities had the following results for October collections:
San Marcos — 17.82 percent
Kyle — 11.95 percent
New Braunfels — 6.07 percent
Austin — 0.12 percent
Round Rock — -1.53 percent
Georgetown — -1.79 percent
Seguin — -8.56 percent
Taxes from retail sales account for 45.7 percent of General Fund income for the city of San Marcos. The City maintains a healthy fund balance of 30.2 percent in the General Fund and has financial policies in place that closely track revenues and expenditures to respond to variations in revenues.