ah city council meeting 12.14.15 - item #16 - 4th-qtr 2015 financials

Presented By: Robert Galindo, Finance DirectorItem # 16

City Council MeetingDecember 14, 2015

QUARTERLY FINANCIAL REPORT AS OF SEPTEMBER 30, 2015

4th Quarter Financial Report 2

General Fund Revenues & ExpendituresUtility Fund Revenues & ExpendituresCapital Projects Fund Investment Portfolio UpdateSummary of City’s Financial Position

4th Quarter 2015 Financial Report


General Fund Revenues FY 2014-15FY 2014-15 FY 2014-15 FY 2014-15 FY 2013-14

BUDGET 12 MONTHS % BUDGET 12 MONTHS

PROPERTY TAXES $ 4,780,346 $ 4,751,909 99% $ 4,325,796 SALES TAX 900,000 946,872 105% 940,436 OTHER TAXES 853,700 862,096 101% 760,977 TOTAL TAXES $ 6,534,046 $ 6,560,876 100% $ 6,027,209PERMITS & FEES 705,550 609,163 86% 609,163INTERGOVERNMENTAL 447,080 418,802 94% 426,856CHARGES FOR SERVICES 1,197,004 1,185,915 99% 1,186,960FINES AND FORFEITURES 250,000 269,167 108% 223,269INVESTMENTS 6,000 24,742 412% 10,644MISCELLANEOUS 72,220 81,016 1 112% 133,129OTHER FINANCING SOURCES 70,210 67,301 96% 62,162

TOTAL REVENUES $ 9,282,110 $ 9,216,982 99% $ 8,679,392

1. Miscellaneous revenues include city fees for copies, tax services, wrecker fees, impound and police auction proceeds. Pool lease revenues are also in this line and are paid on a semi annual basis.

4rd Quarter Financial Report4Bexar county collections allow split payment option balances due July

Budget to Actual YTD September 30, 2015


Includes both General Fund and Street Maintenance tax collections by month


General Fund Expenditures

FY 2014-15 FY 2014-15 FY 2014-15 FY 2013-14BUDGET 12 MONTHS % BUDGET 12 MONTHS

ADMINISTRATION & FINANCE $ 1,480,517 $ 1,589,929 107% $ 1,361,120PLANNING & DEVELOPMENT 378,768 300,090 79% 282,007FIRE/EMS 2,591,178 2,422,151 93% 2,340,741POLICE / DISPATCH 2,720,466 2,531,232 93% 2,477,146PUBLIC WORKS 1,774,556 1,685,428 95% 1,063,990

TOTAL EXPENDITURES $ 8,945,485 $ 8,528,830 95% $ 7,525,004

City of Alamo Heights

Expenditures for the General Fund were within budget.


Utility Fund Revenues & Expendituresas of September 30, 2015

FY 2014-15 FY 2014-15 FY 2014-15 FY 2013-14BUDGET 12 MONTHS % BUDGET 12 MONTHS

WATER $ 1,967,300 $ 1,669,556 85% $ 1,682,696SEWER 1,494,300 1,418,522 95% 1,522,392

TOTAL REVENUES $ 3,461,600 $ 3,088,078 89% $ 3,205,088

WATER $ 1,757,371 $ 1,485,609 85% $ 934,362 SEWER 1,317,000 1,205,049 91% 827,810 CAPITAL EXPENDITURES 1,488,144 1,035,872 70% 4,814TRANSFERS 67,710 66,246 98% 59,662

TOTAL EXPENDITURES $ 4,630,225 $ 3,792,776 82% $ 1,826,648

OPERATING OVER/UNDER $ (1,168,625) $ (704,698) $ 1,378,440


Capital Projects Fund as of 9/30/15FY 2014-15 FY 2014-15

TOTAL BUDGET

BEGINNING BALANCE $ 1,664,795 $ 1,395,251

REVENUES TRANSFERS FROM GF 0 0 INTEREST EARNED 0 5,000

TOTAL REVENUES $ 0 $ 5,000

EXPENSES

FACILITIES 657,389 585,338

TOTAL EXPENDITURES $ 657,389 $ 585,338

FUND BALANCE $ 1,007,406 $ 814,913

10

Investment Portfolio Update

CERTIFICATES OF DEPOSIT GENERATIONS FCU 0.70% 05/25/16 255,281 4%SAVINGS ACCOUNTS JEFFERSON BANK* 0.30% 5,476,639 87%POOLS LONE STAR 21,462 LOGIC 6,145 TEX STAR 30,356 TEXPOOL INVESTMENT 2,250 SUBTOTAL 60,213 1%OPERATING ACCOUNT FROST BANK* non-interest bearing 464,250 SUBTOTAL 464,250 7%TOTAL INVESTMENT PORTFOLIO AS OF SEPTEMBER 30, 2015 6,256,383 100% (Cash Balance)

* Frost National Bank and Jefferson Bank pledge securities in the name of the City of Alamo Heights sufficient to cover balances which are not covered by FDIC

4th Quarter Financial Report

Market

Beginning Value as of January 1, 2015 9,134,533$ .

Changes Market Value Fluctuations 0Net Increase (Decrease) to Pool Accounts (499,751) Net Increase (Decrease) to CD's 2,270Net Increase (Decrease) to Savings Account (1,485,988)Net Increase (Decrease) to Operating Account (894,679)Net Amortization of Premium and Discounts - Maturities - Purchases -

Ending Value as of September 30, 2015 6,256,384$

Investment Portfolio Update (Cont.)


• A transfer of $500,000 was made in the last quarter from the savings to the operating account for operations until property taxes start coming in for the new fiscal year.

Benchmark Actual

90 Day Treasury .03% Average Yield Savings Account 0.30%CD 0.70%Investment Pools 0.03%Operating Account 0.00%

Weighted Average Maturity Maximum 365 days 0

DiversificationCertificates of Deposit Maximum 100% 3%Savings Account Maximum 100% 68%U.S. Agencies Maximum 100% 0%Operating Account Maximum 100% 28%Investment Pools Maximum 100% 1%

Maximum Days to Maturity (as of purchase date) U. S. Agencies Maximum 1,095 days 0

Certificates of Deposit Maximum 360 days 360

This report is in full compliance with the investment strategies as established by the City of Alamo HeightsInvestment Policy and the Public Funds Investment Act (Chapter 2256).

Investment Portfolio Update (Cont.)



Summary of City’s Financial Position

PERFORMANCE SUMMARY FOR THE 4TH QUARTER OR 100% OF BUDGET% Current Quarter YTD Quarter

GENERAL FUNDTotal Revenues as % of Budget 99% Positive PositiveTotal Expenditures as % of Budget 95% Positive PositiveTotal Property Tax Collections 99% Positive PositiveSales Tax Revenues Analysis 100% Positive Positive

ENTERPRISE FUNDUtility Fund Revenues as % of Budget 89% Positive PositiveUtility Fund Expenditures as % of Budget 86% Positive Positive

ah city council meeting 12.14.15 - item #16 - 4th-qtr 2015 financials

Government & Nonprofit