The City of Alamo Heights financial report for the quarter ending March 31, 2020 shows: - The General Fund had operating revenues of $7.88 million, which is 72% of budget, and expenditures of $4.67 million, which is 42% of budget, resulting in a surplus of $3.2 million. - The Utility Fund had revenues of $1.8 million, which is 40% of budget, and expenditures of $1.67 million, which is 37% of budget, resulting in a surplus of $129,512. - The Capital Projects Fund expended $973,000, which is 64% of its budget, on projects like the swimming pool and nature trails building

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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 March 31, 2020
DATE: June 8, 2020
As you are aware, the state emergency declaration for the Covid-19 pandemic started mid-March
so this quarterly report does not show the financial impact from having people shelter at home.
However, the City is expected to finish in the positive after considering reduced revenues and
some necessary expenses to operate safely in the current environment.
A power point presentation reviewing the status of operating revenues and expenses through the
second quarter ending March 31, 2020 will be presented. The review provides a comparison by
fund for actual revenues and expenses compared to the budget and prior year. This review also
provides a summary of fund balances as of March 31, 2020 and investment balances by type and
activity through the end of the quarter. The following is a summary of the presentation.
General fund operating revenues over expenditures was $3,205,838. General Fund revenue was
$7,880,616 through the second quarter of the 2020 fiscal year and is 72% of budget. Property
taxes which account for 54% of general fund revenues were assessed in October. At the end of
the second quarter, total property tax revenue was $6,135,839 or 90% of budget and includes
$793,895 which is in the debt service fund. Sales tax revenue was $704,151 which is 58% of
budget. Charges for Services was $551,948 which is 45% of budget and includes EMS revenue,
telecom leases and Administrative Costs for Court. Permit revenue was $369,558 which
represents 74% of budget. Expenditures through the second quarter of the year were $4,674,778
or 42 % of budget.
Utility fund revenue after expenses was $129,512. Utility fund revenue was $1,795,904 which
is 40% of budget. Utility fund operating expenses were $1,666,393 which is 37% of budget.
The Capital Projects Fund has the CIED funds received from City Public Service (CPS) in 2012.
The beginning fund balance for the fiscal year is $1,004,122. Expenditures through March for
the fund were $972,696 which is 64% of the budget. The expenditures were for the swimming
pool and completion of the renovation for the nature trails building.
The City’s investment portfolio increased from $11,236,071 to $13,980,301 through the end of
the second quarter or $2,744,230. The increase is from property tax collections. The average
yield for the investment portfolio was 1.6% as compared to the benchmark of 1.1%, which is the
90-Day Treasury.

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The City continues to maintain a stable financial position through the second quarter of Fiscal
Year 2020 and is operating within its planned budget. Estimated revenues were conservatively
budgeted for the 2020 fiscal year. Management continues to practice conservative spending
while maintaining essential services during this unprecedented climate.
______________________
Robert Galindo
Director of Finance
______________________
Buddy Kuhn
City Manager