OMAHA, Neb., May 14, 2013 (GLOBE NEWSWIRE) -- America First Tax Exempt Investors, L.P. (Nasdaq:ATAX) (the "Partnership") announced today a new supplemental financial report has been posted on its website summarizing its financial results for the first quarter of 2013. Going forward, this supplemental financial report will be posted on the Partnership's website just subsequent to the filing of the quarterly and annual consolidated financial statements with the Securities and Exchange Commission ("SEC"). "We believe providing supplemental financial information on a quarterly basis is important for our investors", stated Chad Daffer, Fund Manager. The quarterly supplemental financial report is accessible through the Investor Update section of ATAX's website located on the World Wide Web at www.ataxfund.com .
The quarterly supplemental financial information presented on our website serves two primary purposes which align to how management monitors the performance of the business. Management utilizes a calculation called cash available for distribution ("CAD"), a non-GAAP measure, to determine the Partnership's ability to make distributions to unitholders. This supplemental report will highlight changes to CAD in the most recent quarter and overall trends in CAD performance. The supplemental financial information also reflects the results of the Partnership without consolidation of entities that own certain of the multi-family properties financed with tax-exempt mortgage revenue bonds held by the Partnership. While these entities are reported by ATAX as consolidated variable interest entities ("VIEs") under generally accepted accounting principles in its quarterly and annual financial reporting filed with the SEC, the Partnership does not actually hold an ownership interest in these VIEs. Since consolidation of these VIEs results in the elimination of the Partnership's tax-exempt bonds on these properties for financial reporting purposes, management believe this supplemental financial information is helpful to understand the Partnership's results of operations from its principal operating segments of tax-exempt mortgage revenue bonds, other tax-exempt investments and owned MF Properties.
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