La Marque city officials have approved an emergency financial plan to maintain basic services as the city faces a potential financial shutdown. Interim City Manager Barbara Holley and Finance Director Worth Ferguson announced the decision at a press conference. They revealed that the city has only $1.2 million in its reserves, an amount sufficient for approximately two weeks under the current spending of $60,000 per day, excluding utilities.
The La Marque City Council, in a session held late Monday, unanimously endorsed a three-point strategy aimed at stabilizing finances. Holley indicated the city might need an additional $3 million to $5 million to sustain operations until the end of 2025, particularly considering the potential impact of hurricane season.
The financial crisis emerged after Holley, who has been in her position for five weeks, reviewed city financials with Ferguson. They discovered the city did not meet revenue projections and exceeded planned expenditures. Holley noted that past administrations failed to provide essential financial documents such as monthly statements, bank balances, and timely audits, resulting in insufficient oversight. However, she emphasized that no fraudulent activity has been detected.
In response to the crisis, the city plans to establish a financial oversight committee comprising council members, citizens, and the Economic Development Corporation. This committee aims to restore transparency and accountability in the city’s finances.
Local residents have voiced concerns about the city’s fiscal state. Longtime resident Laura Divine commented on the situation, expressing disappointment over the city’s financial decline and noting that it did not occur overnight.
Moving forward, Holley and Ferguson committed to providing monthly financial updates. They asserted that the immediate implementation of changes is crucial to ensuring that essential services remain operational.