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Annual financial report

South Padre Island 2018 Comprehensive Annual Financial Report

original file: 2017 - 2018
South Padre Island

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What is this?

The City of South Padre Island’s Comprehensive Annual Financial Report for the fiscal year ending September 30 2018 presents the audited financial statements, a management discussion of the city’s financial condition, and detailed information on major initiatives. It highlights a strong fiscal position with an AA+ general‑obligation bond rating and a six‑month operating reserve, and it describes infrastructure projects such as the $3 million Gulf Boulevard reconstruction, the $2 million 2018 Street Reconstruction, and the ongoing Padre Boulevard sidewalk improvements covering 9.2 miles.

Key figures

Fiscal year end September 30, 2018
Resident population approximately 2,888
City area approximately 2.5 square miles
General‑obligation bond rating AA+
Operating reserve six months
Gulf Boulevard reconstruction cost $3 million (approx.)
2018 Street Reconstruction cost $2 million (approx.)
Padre Boulevard sidewalk length 9.2 miles total (4.6 miles each direction)
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