Item # 10 - First Quarter Financial Investment 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 December 31, 2022
DATE: February 27, 2023
A power point presentation reviewing the status of operating revenues and expenses through the
end of the first Quarter December 31, 2022 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 $2,125,439. General Fund revenue was
$4,972,976 through the fiscal first Quarter and represents 41% of budget. Property taxes which
account for 55% of general fund budget revenues were assessed in October 2022. Total property
tax revenue is $4,135,910 or 43% of budget and includes $660,806 in the debt service fund. Sales
tax revenue is $462,248 which is 27% of budget. Charges for Services revenue is $309,713 which
is 29% of budget and includes EMS revenue, Telecom leases and Administrative Costs for Court.
Building permit revenue was $162,921 and represents 22% of budget. Expenditures through the
end of the first quarter ending December 31, 2022 are $2,847,537 or 24% of budget.
Utility fund revenue after expenses is $544,536. Utility fund revenue was $1,185,221 which
represents 26% of budget. Utility fund operating expense was $640,685 which represents 15%
of budget.
The Capital Projects Fund beginning fund balance was $14,668,140. The Lower Broadway 2021
taxable bond proceeds of $13,250,000 are in this fund. Expenditures through December 31,
2022 were zero.
The City’s investment portfolio increased from $28,943,472 to $29,651,634 through the end of
the first quarter and is an increase of $708,162. The average yield for the investment portfolio
was 3.52% as compared to the benchmark of 4.0%, which is the 90-Day Treasury.
The City continues to maintain a strong financial position through the end of the first quarter of
the Fiscal Year ending September 30,2023 and is operating within its budget. The leadership
team continues to practice conservative spending.

2. 2
______________________
Robert Galindo
Director of Finance
______________________
Buddy Kuhn
City Manager