SAN MARCOS — The economic news was ominous at the Dec. 9 City Council meeting according to the city’s finances report submitted by Glen Winn, new chairman of the Budget Review committee.
General Fund expenditures for fiscal year 2007-2008 stood at $60.7 million, down $400,000 from last year, thanks to city-imposed austerity measures. But San Marcos still ended the year just $23,000 in the black, Winn reported. This was largely due to the city’s revenues suffering from a slowing local and national economy.
Winn remained guardedly hopeful about next year’s financial outlook.
“While no one is happy about the economic posture or picture, careful management by the city manager’s office and the city finance office are holding down expenditures, and we’re watching in a close tracking method a review of all of our sources,” Winn said. “Hopefully this could result in another balanced year. Let’s hope for the best.”
Winn confirmed that he and his staff were working on a mid-year report to keep close tabs on the worsening economy.