Laguna Vista releases financials

LAGUNA VISTA — Every few months, Laguna Vista officials share the results of their financial quarter with the public.

In an effort to be more transparent with the community, City Manager Rolando Vela said he encourages all resident to take a look.

“The town strives to keep the town council and its citizens fully informed of the town’s finances. It’s important to be transparent and to provide them a ‘snapshot’ of the town’s revenues and expenditures,” he said.

Earlier this week, Vela presented the second quarter financial performance report for the three-month period ending March 31.

These quarterly reports are routinely presented to the town council and are posted on the town’s website for the public to view.

Vela’s presentation touched on the revenues and expenditures of the town’s operating budget and other funds.

According to the report, the town received 85 percent of the amount budgeted for revenues with the largest portion coming from property taxes.

“The town has collected 96 percent of the $875,000 budgeted for property tax revenues,” Vela said.

“We still have more money to collect before the end of the fiscal year. In that regard, I feel that we will exceed the $875,000 that we budgeted.”

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