CAFR

1. City of Alamo Heights, Texas
Comprehensive Annual
Financial Report
Year Ended September 30, 2017

2. What’s in the Annual Financial Report
Introduction
◦ Transmittal Letter from City Manager
◦ GFOA Certificate of Achievement Award for Excellence in Financial
Reporting For September 30, 2016
Independent Auditor’s Report
Management Discussion & Analysis
Government‐Wide and Fund Financial Statements
Notes to the Financial Statements
Required Supplementary Information
Other Supplementary Information
◦ Combining & Individual Financial Statements
Statistical Tables 2

3. Independent Auditor’s Report
Audit Standards to follow
◦ Generally Accepted Auditing Standards
Purpose
◦ To form an independent opinion on whether the financial
statements are presented in accordance with Generally
Accepted Accounting Principles (GAAP).
Independent opinion on the financial statements
◦ Audit is “unmodified”
◦ This is the best opinion that can be given for an independent audit. It means we
have no modifying statements in our opinion letter.
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4. Management Discussion & Analysis
Financial Highlights
Overview of the Financial Statements
Government‐Wide Financial Analysis
Financial Analysis of the City’s Funds
Budgetary Highlights
Capital Assets and Debt
Requests for Information
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5. Financial Highlights
Government‐Wide Financial Statements
◦ Assets of the City exceeded its liabilities (Net Position) by
$15.2 million at September 30, 2017.
◦ Governmental Activities ‐ $6.3 million
◦ Business‐type Activities ‐ $8.9 million
◦ Net Position increased by $950 thousand from 2016.
◦ Governmental Activities ‐ $879 thousand
◦ Ad valorem taxes increased by over 5% primarily due to property
valuations
◦ Business‐type Activities ‐ $71 thousand
◦ Includes budgeted transfer of $70 thousand to General Fund
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6. Financial Highlights (Continued)
Fund Financial Statements
Governmental Funds:
◦ The General Fund’s fund balance at the end of the 2017 fiscal
year was $3.9 million, an increase of $284 thousand from 2016.
◦ The City’s unassigned fund balance at September 30, 2017 was $3.8 million, an
increase of $300 thousand from the prior year.
◦ Approximately 5 months operating reserve in the General Fund.
◦ The combined fund balance for all funds was $6.7 million, an
increase by $538 thousand from 2016.
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7. Financial Highlights (Continued)
Fund Financial Statements (Continued)
Proprietary Fund:
◦ Water fund net position increased $71 thousand to $8.9
million.
◦ Unrestricted Net Position was $800 thousand
◦ At September 30, 2017 the City had working capital of $1.3
million for the utility operations; an increase of $170
thousand from prior year’s working capital ratio.
◦ Almost 8 months operating reserves of working capital
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8. LETTER ON CONDUCT OF AUDIT
Accounting Policies
Accounting Estimates and Disclosures
Difficulties in Performing the Audit
Misstatements
Disagreements
Management Representations
Consultations with other Independent Accountants
Compliance with the Public Funds Investment Act

9. Questions?
CONTACT INFORMATION
Michael Del Toro, CPA
mdeltoro@abipcpa.com
(210) 341‐2581
Or
Jeremy Barbatto, CPA
jbarbatto@abipcpa.com
(210) 341‐2581
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