Finance

The Mission of the Finance Department

To optimally manage the City's finances through its accounting, purchasing and billing functions in order to ensure the proper safeguarding and preservation of City assets. The Finance Department accomplishes this mission by ensuring all the financial operations and transactions of the City which includes accounts payable, payroll, cash management, grant administration, internal audit, purchasing, utility system billings and collections are adequately managed and accounted for in accordance with Generally Accepted Accounting Principles, Governmental Accounting Standards Board Pronouncements and other legally mandated standards as required by Federal, State and City laws. The Finance Department assists the City Manager with developing and compiling the City's annual operating budget and is also responsible for compiling the City's financial statements and Annual Comprehensive Financial Report (ACFR).

Transparency

The City of Leon Valley is committed to the best accounting practices for local governments and financial transparency. We have made available the following information to provide clear and meaningful financial representation not only by posting financial documents, but also through summaries, visualizations, downloadable data and other relevant information. Our goal is to be transparent with the citizens and community. This will foster alignment with the community, council, and city staff to better direct us more effectively and efficiently toward the same set of goals.

Traditional Finances

The financial information and documents are provided to give our citizens a clear view of how the City’s funds are used. The summary data is from the government-wide Statement of Activities in the City's Annual Comprehensive Financial Report (ACFR). The government-wide Statement of Activities reports the results of the City's operations on an accrual basis of accounting. Revenues are recognized when earned and expenses are recognized at the time the liability is incurred.

The per capita figures used are based on the City’s estimated population of 11,429.

Monthly Financial Reports

The monthly Summary Financial Statement presents the major funds of the City on a budget basis.

Debt Obligations

The following information on debt issued by the City of Leon Valley is to provide a transparent view of all the outstanding obligations. We provide a debt summary rend charts on the City’s debt and related elections, and detailed reports of the different bond issuances in an effort to convey meaningful information in a manner that is clear.