Conversion worksheetGreen shaded cells are from Chapter 5 financia.docxdickonsondorris
Conversion worksheetGreen shaded cells are from Chapter 5 financial StatementsEnter all amounts as positive numbers. The worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equityRefr. Account TitlesDebitsCreditsGov'tal Fund Balances Adjustments & EliminationsGovern-mental Funds AdjustedInternal Service FundsBalances for Gov't-wide StmtsDebitsCreditsDebitsCreditsACapital asset64,200,000DEBITS:Accumulated Depreciation28,700,000Cash657,720657,72035,000692,720Net Position35,500,000Cash with Fiscal Agent928,000928,000928,000Investments259,000259,000259,000BCapital asset5,823,100Taxes Receivable, net262,000262,000262,000Capital Outlay Expenditures5,823,100Interest Receivable, net16,85016,85016,850Inventories-37,54037,540CDepreciation Expense4,900,000Due from State Govt.559,000559,000559,000Accumulated Depreciation4,900,000Due from Other Funds-11,200(3,200)14,400Capital Assets64,200,00070,023,10078,40070,101,500DProceeds of bonds4,000,000 both rows5,823,100Other Financing sources- premium on bonds200,000--Bonds payable4,000,000Expenditures (expenses) Current-Premium on bonds200,000 General Govt.1,646,9001,646,900(1,240)1,648,140 Public Safety3,026,9003,026,9003,026,900ENet position12,000,000 Highway and Streets2,481,9002,481,9002,481,900Bonds payable12,000,000 Sanitation591,400591,400591,400 Health724,100724,100724,100FBonds payable800,000 Welfare374,300374,300374,300Bonds Principal800,000 Culture and Recreation917,300917,300917,300Compensated Absences Exp42,00042,00042,000GInterest Expense328,000Other Expenditures (expenses)--Accrued Interest Payable328,000 - Debt Service Principal800,000(800,000)1,600,0001,600,000 - Interest (expenditure/expense)514,000328,000(180,000)1,032,0001,032,000HNet position180,000 both rows(10,000)Interest Expense180,000 - Capital Outlay5,823,100(5,823,100)11,646,20011,646,200 - Depreciation4,900,0004,900,0004,900,000IBonds Payable10,000Other Fin. Uses - Transfers Out1,871,7001,871,700(1,871,700)3,743,400Interest Expense10,000-Total Debits21,454,170105,598,650JDeferred Revenues10,500CREDITS:Revenues- Property Taxes10,500Accounts Payable326,800326,800(19,400)307,400Due to Other Funds40,20040,2003,20037,000KRevenues- Property Taxes21,000Accrued Interest Payable(328,000)(328,000)(328,000)Net Position21,000Bonds Payalbe(12,000,000) both rows800,000(4,000,000)(16,800,000)(16,800,000)LCompensated Absenese Expense42,000Premium on Bonds10,000(200,000)(210,000)(210,000)Compensated Absences Payable42,000Compensated Absence Payable(42,000)(42,000)(42,000)Advance from Water Utility Fund-(15,000)(15,000)MCash35,000Deferred Inflows: Property Taxes10,50010,500-(15,000)Due from Other Funds11,200Accumulated Depreciation(28,700,000)Inventories37,540 both rows(4,900,000)(33,600,000)(33,600,000)Capital assets78,400Revenues-Accounts Payable19,400Property Taxes6,657,50021,000(10,500)6,626,0006,626,000Advance from Water Utility Fund15,000Sales .
Public Presentation of Approved 2022 FGN Budget FinalNGFSecretariat
At the public presentation of the approved 2022 budgets, there were breakdowns and highlights made by the Honourable Minister of Finance, Budget, and National Planning, Mrs. (Dr.) Zainab Shamsuna Ahmed.
TIM GROUP FY '23 Preliminary Results.pdfGruppo TIM
On February 15, 2024, TIM management has presented in conference call its FY 2023 preliminary results approved by the Board of Directors.
Il 15 febbraio 2024 il management di TIM ha presentato in conference call i risultati preliminari del FY 2023 approvati dal Consiglio di Amministrazione.
E10-38. (Reporting reconciliation between fund and government-wide fi.pdfambikasalon
E10-38. (Reporting reconciliation between fund and government-wide financial statements)
Return to your solution to Exercise E10-28, regarding Oliver City's capital assets. Using the
journal entries you prepared for that exercise, prepare the wording and the numbers you would
use in describing the reconciliation of the amounts reported in the two funds' financial statements
to the two governmentwide financial statements.
Q10-28. (Capital asset adjustments for government-wide financial statements) Oliver City
reported capital assets of $4,300,000 and accumulated depreciation of $2,000,000 in the
governmental activities column of its government-wide statement of net position for the year
ended December 31, 2021. The total governmental funds column in Oliver's calendar year 2022
statement of revenues, expenditures, and changes in fund balances showed that Oliver's capital
outlay expenditures were $340,000. Oliver City's director of finance estimated that total
depreciation for 2022 was $200,000. Based on this information, prepare journal entries to adjust
Oliver's 2022 fund financial statements so government-wide statements can be prepared..
CHILD FOUNDATION FINANCIAL STATEMENTS YeJinElias52
CHILD FOUNDATION
FINANCIAL STATEMENTS
Year Ended May 31, 2020
with
Independent Auditors’ Report
CHILD FOUNDATION
Table of Contents
Page
Independent Auditors’ Report 1
Financial Statements
Statement of Financial Position 3
Statement of Activities 4
Statement of Functional Expenses 5
Statement of Cash Flows 6
Notes to Financial Statements 7
- 1 -
Independent Auditors’ Report
The Board of Directors
Child Foundation
Report on the Financial Statements
We have audited the accompanying financial statements of Child Foundation (the Organization), which
comprise the statement of financial position as of May 31, 2020, and the related statements of activities,
functional expenses, and cash flows for the year then ended, and the related notes to the financial
statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
- 2 -
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of Child Foundation as of May 31, 202 ...
EY's summary and analysis of Dr. Ashni Singh's 2021 Guyana National Budget for Guyana South America the Caribbean's wealthiest and fastest growing economy
Finance minister Nirmala Sitharaman on Tuesday in the parliament presented her fourth budget including key measures for a number of sectors, aimed at boosting growth amid high & rising inflation and continuing Covid uncertainties.
PFINANCE Based on Statement of Comprehensive Income and Sta.pdfaglowcollection
P.FINANCE
Based on Statement of Comprehensive Income and Statements of Financial Position, you need to
calculate financial ratios (show your workings). Based on your calculation, interpret, and compare
the performance for the year 2022 and the year 2021 based on the following categories of ratio:
Liquidity:
i. Current ratio
ii. Quick ratio
Asset Management:
i. Inventory turnover
ii. Receivables turnover
iii. Total assets turnover
iv. Average collection period
Debt Management:
i. Total debt ratio
ii. Times interest earned ratio
Profitability:
i. Net profit margin
ii. Return on assets
iii. Return on equity
PLS DO HELP ME TO ANSWER THE QUESTIONS. I'M POSTING THIS FOR THE SECOND
TIME. PLS I DONT WANT ANY COPY & PASTE WORK. THANK YOU...
Liquidity:
i. Current ratio
ii. Quick ratio
Asset Management:
i. Inventory turnover
ii. Receivables turnover
iii. Total assets turnover
iv. Average collection period
Debt Management:
i. Total debt ratio
ii. Times interest earned ratio
Profitability:
i. Net profit margin
ii. Return on assets
iii. Return on equity
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 begin{tabular}{rrrrr} & &
2022 & 2021 & Note & RM & RM hline end{tabular} ASSETS Non-current assets Investment
properties Investment properties - accrued lease income Current assets LIABILITIES Non-current
liabilities Trade and other payables Borrowings Deferred tax liability Current liabilities Trade and
other payables BorrowingsSTATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022
(CONT'D) Before the proposed final income distribution of 1.90 sen per unit (2021: 2.55 sen per
unit) After the proposed final income distribution of 1.90 sen per unit (2021: 2.55 sen per
unit)STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE
FINANCIAL YEAR ENDED 31 DECEMBER 2022STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER
2022 (CONT'D) 2022 ncome distribution per unit* First interim income distribution Second interim
income distribution Third interim income distribution Proposed final income distribution
begin{tabular}{ll} 2.20 & 2.50 2.25 & 2.20 1.85 & 2.50 1.90 & 2.55 hline 8.20 & 9.75 hline
end{tabular} Withholding tax will be deducted for distributions made to the following categories of
unitholders:.
Conversion worksheetGreen shaded cells are from Chapter 5 financia.docxdickonsondorris
Conversion worksheetGreen shaded cells are from Chapter 5 financial StatementsEnter all amounts as positive numbers. The worksheet is formatted to add debits to assets & expenses and add credits to revenues, liabilities & equityRefr. Account TitlesDebitsCreditsGov'tal Fund Balances Adjustments & EliminationsGovern-mental Funds AdjustedInternal Service FundsBalances for Gov't-wide StmtsDebitsCreditsDebitsCreditsACapital asset64,200,000DEBITS:Accumulated Depreciation28,700,000Cash657,720657,72035,000692,720Net Position35,500,000Cash with Fiscal Agent928,000928,000928,000Investments259,000259,000259,000BCapital asset5,823,100Taxes Receivable, net262,000262,000262,000Capital Outlay Expenditures5,823,100Interest Receivable, net16,85016,85016,850Inventories-37,54037,540CDepreciation Expense4,900,000Due from State Govt.559,000559,000559,000Accumulated Depreciation4,900,000Due from Other Funds-11,200(3,200)14,400Capital Assets64,200,00070,023,10078,40070,101,500DProceeds of bonds4,000,000 both rows5,823,100Other Financing sources- premium on bonds200,000--Bonds payable4,000,000Expenditures (expenses) Current-Premium on bonds200,000 General Govt.1,646,9001,646,900(1,240)1,648,140 Public Safety3,026,9003,026,9003,026,900ENet position12,000,000 Highway and Streets2,481,9002,481,9002,481,900Bonds payable12,000,000 Sanitation591,400591,400591,400 Health724,100724,100724,100FBonds payable800,000 Welfare374,300374,300374,300Bonds Principal800,000 Culture and Recreation917,300917,300917,300Compensated Absences Exp42,00042,00042,000GInterest Expense328,000Other Expenditures (expenses)--Accrued Interest Payable328,000 - Debt Service Principal800,000(800,000)1,600,0001,600,000 - Interest (expenditure/expense)514,000328,000(180,000)1,032,0001,032,000HNet position180,000 both rows(10,000)Interest Expense180,000 - Capital Outlay5,823,100(5,823,100)11,646,20011,646,200 - Depreciation4,900,0004,900,0004,900,000IBonds Payable10,000Other Fin. Uses - Transfers Out1,871,7001,871,700(1,871,700)3,743,400Interest Expense10,000-Total Debits21,454,170105,598,650JDeferred Revenues10,500CREDITS:Revenues- Property Taxes10,500Accounts Payable326,800326,800(19,400)307,400Due to Other Funds40,20040,2003,20037,000KRevenues- Property Taxes21,000Accrued Interest Payable(328,000)(328,000)(328,000)Net Position21,000Bonds Payalbe(12,000,000) both rows800,000(4,000,000)(16,800,000)(16,800,000)LCompensated Absenese Expense42,000Premium on Bonds10,000(200,000)(210,000)(210,000)Compensated Absences Payable42,000Compensated Absence Payable(42,000)(42,000)(42,000)Advance from Water Utility Fund-(15,000)(15,000)MCash35,000Deferred Inflows: Property Taxes10,50010,500-(15,000)Due from Other Funds11,200Accumulated Depreciation(28,700,000)Inventories37,540 both rows(4,900,000)(33,600,000)(33,600,000)Capital assets78,400Revenues-Accounts Payable19,400Property Taxes6,657,50021,000(10,500)6,626,0006,626,000Advance from Water Utility Fund15,000Sales .
Public Presentation of Approved 2022 FGN Budget FinalNGFSecretariat
At the public presentation of the approved 2022 budgets, there were breakdowns and highlights made by the Honourable Minister of Finance, Budget, and National Planning, Mrs. (Dr.) Zainab Shamsuna Ahmed.
TIM GROUP FY '23 Preliminary Results.pdfGruppo TIM
On February 15, 2024, TIM management has presented in conference call its FY 2023 preliminary results approved by the Board of Directors.
Il 15 febbraio 2024 il management di TIM ha presentato in conference call i risultati preliminari del FY 2023 approvati dal Consiglio di Amministrazione.
E10-38. (Reporting reconciliation between fund and government-wide fi.pdfambikasalon
E10-38. (Reporting reconciliation between fund and government-wide financial statements)
Return to your solution to Exercise E10-28, regarding Oliver City's capital assets. Using the
journal entries you prepared for that exercise, prepare the wording and the numbers you would
use in describing the reconciliation of the amounts reported in the two funds' financial statements
to the two governmentwide financial statements.
Q10-28. (Capital asset adjustments for government-wide financial statements) Oliver City
reported capital assets of $4,300,000 and accumulated depreciation of $2,000,000 in the
governmental activities column of its government-wide statement of net position for the year
ended December 31, 2021. The total governmental funds column in Oliver's calendar year 2022
statement of revenues, expenditures, and changes in fund balances showed that Oliver's capital
outlay expenditures were $340,000. Oliver City's director of finance estimated that total
depreciation for 2022 was $200,000. Based on this information, prepare journal entries to adjust
Oliver's 2022 fund financial statements so government-wide statements can be prepared..
CHILD FOUNDATION FINANCIAL STATEMENTS YeJinElias52
CHILD FOUNDATION
FINANCIAL STATEMENTS
Year Ended May 31, 2020
with
Independent Auditors’ Report
CHILD FOUNDATION
Table of Contents
Page
Independent Auditors’ Report 1
Financial Statements
Statement of Financial Position 3
Statement of Activities 4
Statement of Functional Expenses 5
Statement of Cash Flows 6
Notes to Financial Statements 7
- 1 -
Independent Auditors’ Report
The Board of Directors
Child Foundation
Report on the Financial Statements
We have audited the accompanying financial statements of Child Foundation (the Organization), which
comprise the statement of financial position as of May 31, 2020, and the related statements of activities,
functional expenses, and cash flows for the year then ended, and the related notes to the financial
statements.
Management’s Responsibility for the Financial Statements
Management is responsible for the preparation and fair presentation of these financial statements in
accordance with accounting principles generally accepted in the United States of America; this includes
the design, implementation, and maintenance of internal control relevant to the preparation and fair
presentation of financial statements that are free from material misstatement, whether due to fraud or
error.
Auditors’ Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit. We
conducted our audit in accordance with auditing standards generally accepted in the United States of
America. Those standards require that we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in
the financial statements. The procedures selected depend on the auditors’ judgment, including the
assessment of the risks of material misstatement of the financial statements, whether due to fraud or error.
In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation
and fair presentation of the financial statements in order to design audit procedures that are appropriate in
the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s
internal control. Accordingly, we express no such opinion. An audit also includes evaluating the
appropriateness of accounting policies used and the reasonableness of significant accounting estimates
made by management, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for
our audit opinion.
- 2 -
Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of Child Foundation as of May 31, 202 ...
EY's summary and analysis of Dr. Ashni Singh's 2021 Guyana National Budget for Guyana South America the Caribbean's wealthiest and fastest growing economy
Finance minister Nirmala Sitharaman on Tuesday in the parliament presented her fourth budget including key measures for a number of sectors, aimed at boosting growth amid high & rising inflation and continuing Covid uncertainties.
PFINANCE Based on Statement of Comprehensive Income and Sta.pdfaglowcollection
P.FINANCE
Based on Statement of Comprehensive Income and Statements of Financial Position, you need to
calculate financial ratios (show your workings). Based on your calculation, interpret, and compare
the performance for the year 2022 and the year 2021 based on the following categories of ratio:
Liquidity:
i. Current ratio
ii. Quick ratio
Asset Management:
i. Inventory turnover
ii. Receivables turnover
iii. Total assets turnover
iv. Average collection period
Debt Management:
i. Total debt ratio
ii. Times interest earned ratio
Profitability:
i. Net profit margin
ii. Return on assets
iii. Return on equity
PLS DO HELP ME TO ANSWER THE QUESTIONS. I'M POSTING THIS FOR THE SECOND
TIME. PLS I DONT WANT ANY COPY & PASTE WORK. THANK YOU...
Liquidity:
i. Current ratio
ii. Quick ratio
Asset Management:
i. Inventory turnover
ii. Receivables turnover
iii. Total assets turnover
iv. Average collection period
Debt Management:
i. Total debt ratio
ii. Times interest earned ratio
Profitability:
i. Net profit margin
ii. Return on assets
iii. Return on equity
STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022 begin{tabular}{rrrrr} & &
2022 & 2021 & Note & RM & RM hline end{tabular} ASSETS Non-current assets Investment
properties Investment properties - accrued lease income Current assets LIABILITIES Non-current
liabilities Trade and other payables Borrowings Deferred tax liability Current liabilities Trade and
other payables BorrowingsSTATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2022
(CONT'D) Before the proposed final income distribution of 1.90 sen per unit (2021: 2.55 sen per
unit) After the proposed final income distribution of 1.90 sen per unit (2021: 2.55 sen per
unit)STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME FOR THE
FINANCIAL YEAR ENDED 31 DECEMBER 2022STATEMENT OF PROFIT OR LOSS AND
OTHER COMPREHENSIVE INCOME FOR THE FINANCIAL YEAR ENDED 31 DECEMBER
2022 (CONT'D) 2022 ncome distribution per unit* First interim income distribution Second interim
income distribution Third interim income distribution Proposed final income distribution
begin{tabular}{ll} 2.20 & 2.50 2.25 & 2.20 1.85 & 2.50 1.90 & 2.55 hline 8.20 & 9.75 hline
end{tabular} Withholding tax will be deducted for distributions made to the following categories of
unitholders:.
Similar to Item # 10 - 1stQtr Financial Inv. Report (20)
This session provides a comprehensive overview of the latest updates to the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (commonly known as the Uniform Guidance) outlined in the 2 CFR 200.
With a focus on the 2024 revisions issued by the Office of Management and Budget (OMB), participants will gain insight into the key changes affecting federal grant recipients. The session will delve into critical regulatory updates, providing attendees with the knowledge and tools necessary to navigate and comply with the evolving landscape of federal grant management.
Learning Objectives:
- Understand the rationale behind the 2024 updates to the Uniform Guidance outlined in 2 CFR 200, and their implications for federal grant recipients.
- Identify the key changes and revisions introduced by the Office of Management and Budget (OMB) in the 2024 edition of 2 CFR 200.
- Gain proficiency in applying the updated regulations to ensure compliance with federal grant requirements and avoid potential audit findings.
- Develop strategies for effectively implementing the new guidelines within the grant management processes of their respective organizations, fostering efficiency and accountability in federal grant administration.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
ZGB - The Role of Generative AI in Government transformation.pdfSaeed Al Dhaheri
This keynote was presented during the the 7th edition of the UAE Hackathon 2024. It highlights the role of AI and Generative AI in addressing government transformation to achieve zero government bureaucracy
Russian anarchist and anti-war movement in the third year of full-scale warAntti Rautiainen
Anarchist group ANA Regensburg hosted my online-presentation on 16th of May 2024, in which I discussed tactics of anti-war activism in Russia, and reasons why the anti-war movement has not been able to make an impact to change the course of events yet. Cases of anarchists repressed for anti-war activities are presented, as well as strategies of support for political prisoners, and modest successes in supporting their struggles.
Thumbnail picture is by MediaZona, you may read their report on anti-war arson attacks in Russia here: https://en.zona.media/article/2022/10/13/burn-map
Links:
Autonomous Action
http://Avtonom.org
Anarchist Black Cross Moscow
http://Avtonom.org/abc
Solidarity Zone
https://t.me/solidarity_zone
Memorial
https://memopzk.org/, https://t.me/pzk_memorial
OVD-Info
https://en.ovdinfo.org/antiwar-ovd-info-guide
RosUznik
https://rosuznik.org/
Uznik Online
http://uznikonline.tilda.ws/
Russian Reader
https://therussianreader.com/
ABC Irkutsk
https://abc38.noblogs.org/
Send mail to prisoners from abroad:
http://Prisonmail.online
YouTube: https://youtu.be/c5nSOdU48O8
Spotify: https://podcasters.spotify.com/pod/show/libertarianlifecoach/episodes/Russian-anarchist-and-anti-war-movement-in-the-third-year-of-full-scale-war-e2k8ai4
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
A process server is a authorized person for delivering legal documents, such as summons, complaints, subpoenas, and other court papers, to peoples involved in legal proceedings.
Jennifer Schaus and Associates hosts a complimentary webinar series on The FAR in 2024. Join the webinars on Wednesdays and Fridays at noon, eastern.
Recordings are on YouTube and the company website.
https://www.youtube.com/@jenniferschaus/videos
Understanding the Challenges of Street ChildrenSERUDS INDIA
By raising awareness, providing support, advocating for change, and offering assistance to children in need, individuals can play a crucial role in improving the lives of street children and helping them realize their full potential
Donate Us
https://serudsindia.org/how-individuals-can-support-street-children-in-india/
#donatefororphan, #donateforhomelesschildren, #childeducation, #ngochildeducation, #donateforeducation, #donationforchildeducation, #sponsorforpoorchild, #sponsororphanage #sponsororphanchild, #donation, #education, #charity, #educationforchild, #seruds, #kurnool, #joyhome
Presentation by Jared Jageler, David Adler, Noelia Duchovny, and Evan Herrnstadt, analysts in CBO’s Microeconomic Studies and Health Analysis Divisions, at the Association of Environmental and Resource Economists Summer Conference.
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.