Characterizing the geothermal system at Surprise Valley (SV), northeastern California, is important for determining the sustainability of the energy resource, and mitigating hazards associated with hydrothermal eruptions that last occurred in 1951. Previous geochemical studies of the area attempted to reconcile different hot spring compositions on the western and eastern sides of the valley using scenarios of dilution, equilibration at low temperatures, surfaceevaporation, and differences in rock type along flow paths.These models were primarily supported using classical geothermometry methods, and generally assumed that fluids in the Lake City mud volcano area on the western side of the valley best reflect the composition of a deep geothermal fluid. In this contribution, we address controls on hot spring compositions using a different suite of geochemical tools, including optimized multicomponent geochemistry(GeoT) models, hot spring fluid major and trace element measurements, mineralogical observations, and stable isotope measurements of hot spring fluids and precipitated carbonates. We synthesize the results into a conceptual geochemical model of the Surprise Valley geothermal system, and show that high-temperature (quartz, Na/K, Na/K/Ca) classical geothermometers fail to predict maximum subsurface temperatures because fluids reequilibrated at progressively lower temperatures during outflow, including in the Lake City area. We propose a model where hot spring fluids originate as a mixture between a deep thermal brine and modern meteoric fluids, with a seasonally variable mixing ratio. The deep brine has deuterium values at least 3 to 4‰ lighter than any known groundwater or high-elevation snow previously measured in and adjacent to SV, temperature re-equilibration during west to east flow is the major control on hot spring fluid compositions, rather than dilution, evaporation, or differences in rock type.