May 20th, 2011
San Marcos sales tax revenue up 3.71 percent

SUBMITTED REPORT

San Marcos sales tax receipts for March were up 3.71 percent compared to March 2010, generating revenues of $1,807,971 for the seventh month of the city’s fiscal year.

The city has shown an 8.7 percent increase in sales tax revenues since October 1 when the 2011 budget year began.

“The city monitors our sales tax revenues closely throughout the year,” said Mayor Daniel Guerrero. “Sales taxes are an important resource for many city services from public safety to parks and library programs.”

Cities in the Austin-Round Rock-San Marcos metropolitan area showed either strong increases or small decreases. New Braunfels and Georgetown had 21.6 percent and 14.99 percent increases respectively while Round Rock, Seguin and Austin showed small declines.

Area cities had the following results for March sales tax collections:

Taxes from retail sales account for 45.7 percent of general fund revenue for the city of San Marcos. The city maintains a strong 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.