4th Quarter Financial Report

1. 1
CITY OF ALAMO HEIGHTS
ADMINISTRATION AND FINANCE DEPARTMENT
CITY COUNCIL AGENDA MEMORANDUM
TO: Mayor and City Council
FROM: Robert Galindo, Director of Finance
SUBJECT: Financial and Investment Report for the Quarter Ending September 30, 2021
DATE: December 13, 2021
A power point presentation reviewing the status of operating revenues and expenses through the
end of the fiscal year September 30, 2021 will be presented. The review provides a comparison
by fund for actual revenues and expenses compared to budget and prior year. This review also
provides a summary of fund balances by type and activity. Following is a summary of the
presentation.
General fund operating revenue over expenditures was $39,670. General Fund revenue was
$10,997,459 through the fiscal year end 2021 and represents 99% of budget. Property taxes
which account for 55% of general fund budget revenues were assessed in October 2020. Total
property tax revenue is $6,898,963 or 99% of budget and includes $891,210 in the debt service
fund. Sales tax revenue is $1,416,767 which is 108% of budget. Charges for Services is
$1,117,669 which is 94% of budget and includes EMS revenue, Telecom leases and
Administrative Costs for Court. Building permit revenue was $854,100 and represents 160% of
budget. Expenditures for the fiscal year ending September 30, 2021 is $10,957,790 or 92 % of
budget.
Utility fund revenue after expenses is $940,297. Utility fund revenue was $4,375,727 which
represents 114% of budget. Utility fund operating expenses are $3,435,429 which represents
92% of budget.
The Capital Projects Fund beginning fund balance for the fiscal year was $178,282. The Lower
Broadway bond proceeds of $13,250,000 were credited to this fund. Expenditures through end
of September were $70,332 which is 71% of the budget. The majority of expenditures $52,442
were for ADA modifications to the swimming pool restrooms and Olmos Basin cleanup $15,800.
The ending Capital Projects Fund balance is $14,302,950.
The City’s investment portfolio increased from $11,405,617 to $28,110,375 through the end of
the fourth quarter and is an increase of $16,704,758. The average yield for the investment
portfolio was 0.09% as compared to the benchmark of 0.05%, which is the 90-Day Treasury.

2. 2
The City continues to maintain a strong financial position through the end of the fourth quarter
of Fiscal Year 2021 and is operating within its planned budget. The leadership team continues
to practice conservative spending.
______________________
Robert Galindo
Director of Finance
______________________
Buddy Kuhn
City Manager