Hutto is in a strong financial position spurred by rapid growth and increases in sales tax revenues and property-tax values in the past year, according to a report presented to Hutto City Council regarding its Comprehensive Annual Financial Report.

CPA and auditor Stephen Niemeier, a partner at financial firm Brockway, Gersbach, Franklin & Niemeier, presented his findings to city officials April  7 as part of a financial audit of the city.

He told council members that by the end of the fiscal year that ended September 30 the city’s net assets exceed its liabilities by $69.6 million.

“This is excellent and really sort of rare for a city of your size,” Niemeier said. “[The report contains] a lot of good information—a lot of positive information.”

Niemeier cited specific contributing factors such as a 15.7 percent increase in sales-tax collections, a 16.1 percent increase in property values and infrastructure contributions from new subdivisions totaling $4.8 million as reasons for the city’s financial growth during fiscal year 2015.

“If you take the difference between your revenues and expenses, you end up with your net position, and your net assets have increased every year since 2012. It shows that the city is growing, and at the same time, so is your net equity,” Niemeier said.

Hutto Finance Director Melanie Hudson said the city’s economic standing helps the rapid growth.

“Our net assets are higher than they’ve ever been, and a lot of that has to do with the infrastructure that’s been added to the city,” Hudson said. “As subdivisions are added, developers contribute to infrastructure, and that just strengthens our position financially.”

According to the audit report, another significant impact of FY 2015 is the city’s investment of $10.7 million in capital-asset additions.

Mayor Debbie Holland said she believes new development and infrastructure improvements were key in the report’s findings.

“We’re still new enough of a community, with the exception of Old Town, we’re not being burdened with a lot of infrastructure repair and upgrade,” she said.