By Glynis Crawford Smith
The Marble Falls City Council on Tuesday night, March 1, received a solid report from Pattillo, Brown & Hill, the company that audited city finances for the fiscal year ending Sept. 30, 2015.
"We are very glad to havereceived an unqualified opinion," said Margie Cardenas, city financial director.
"The city's net assets exceeded liabilities by $24.7 million for Fiscal Year 2015 (FY 2015)," said Chris Pruitt, C.P.A. for the auditing firm. "Your general fund is up $220,591. The increase was due mainly to an increase in sales taxes and property taxes for FY 2015."
"The city's largest source of revenue in the general fund is sales tax," Pruitt said. "The city realized an increase of six perdent from the prior year's revenue--from $5,399,759 to $5,577124. The 2016 estimate is conservatively projected at $5,744,437."
