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Summary
Financial Summary Table of Contents
Summary
Budgeted Revenues.................................................................................................................17
Program Budget.......................................................................................................................18
Divisional Budget .....................................................................................................................19
Revenues
Property Taxes.........................................................................................................................20
Sales Tax.................................................................................................................................22
Utility Revenues.......................................................................................................................24
Capital Recovery Fees.............................................................................................................26
Other Enterprise Fund Revenues ............................................................................................27
Other Miscellaneous Revenues...............................................................................................28
Fund Summaries
All Funds Summary..................................................................................................................30
General Fund...........................................................................................................................32
Electric Fund............................................................................................................................34
Wastewater Fund.....................................................................................................................36
Water Fund ..............................................................................................................................38
Airport Fund .............................................................................................................................40
Sanitation Fund........................................................................................................................41
Stormwater Drainage Fund......................................................................................................42
Irrigation Fund..........................................................................................................................43
General Capital Projects Funds...............................................................................................44
Special Revenue Funds...........................................................................................................45
Internal Service Funds.............................................................................................................46
00/01
Actual
01/02
Amended
Budget
01/02
Projected
Actual
02/03
Proposed
Budget
03/04
Projected
Budget
Property Taxes 5,165,637 5,937,698 5,937,698 6,587,398 7,092,398
Sales Taxes 3,526,862 3,640,000 3,375,000 3,385,000 4,025,000
Bond Proceeds 7,369,999 1,500,000 9,240,000 6,135,000
Bond Reimbursement 6,583,432 (6,583,432)
Charges for Services 7,481,443 7,844,035 7,803,677 8,684,221 9,014,342
Capital Recovery Fees 1,389,092 750,000 570,000 712,500 630,000
Utility Revenues 38,673,004 37,983,376 40,733,000 43,237,064 45,511,063
Grants 306,889 123,445 416,880 526,175 30,000
Other Revenue 8,539,078 9,742,838 10,285,086 9,012,802 8,984,402
Service Improvement Fees 1,405,899 1,555,435 1,200,895 1,235,895 1,235,895
Fund Balance Used 368,821 15,821,686 13,333,970 6,048,618 (121,576)
Interest 1,902,547 1,171,276 1,101,211 1,122,537 1,040,674
Interfund Transfers 7,641,266 4,080,139 4,665,152 5,236,084 4,584,884
TOTAL REVENUES 83,770,537 90,149,928 96,006,001 88,444,862 88,162,082
Budgeted Revenues
2002-2003
Property Taxes
Sales Taxes
Bond Proceeds
Charges for Services
Capital Recovery Fees
Utility Revenues
Grants
Other Revenue
Service Improvement Fees
Fund Balance Used
Interest
Interfund Transfers
17
Amended Adopted
2001/02 Budget % 2002/03 Budget %
Police Services 4,025,319 5.1% 4,336,077 5.8%
Streets 1,715,974 2.2% 1,625,438 2.2%
Electric 16,557,487 21.2% 18,347,623 24.6%
Public Library 791,539 1.0% 805,513 1.1%
Economic Development 468,600 0.6% 350,350 0.5%
Water 3,686,389 4.7% 4,104,114 5.5%
Wastewater 2,003,882 2.6% 2,120,247 2.8%
Sanitation 2,222,648 2.8% 2,426,600 3.3%
Stormwater Drainage 294,173 0.4% 318,524 0.4%
Debt Payments 6,330,756 8.1% 6,984,488 9.4%
Airport 1,170,672 1.5% 1,201,709 1.6%
Fire Services 2,909,327 3.7% 3,223,172 4.3%
Management Svc-Others 1,131,255 1.4% 1,071,641 1.4%
Capital Improvements 23,660,600 30.2% 15,414,700 20.7%
Parks & Recreation 2,375,976 3.0% 2,393,251 3.2%
Development Services 1,665,179 2.1% 1,413,846 1.9%
Administration 7,215,978 9.2% 8,387,264 11.3%
Budget Total By Program 78,225,754 100.0% 74,524,557 100.0%
Interfund Transfers & Premiums 11,924,174 13,920,305
TOTAL OPERATING BUDGET 90,149,928 88,444,862
Program Budget
0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000
Police Services
Streets
Electric
Public Library
Economic Development
Water
Wastewater
Sanitation
Stormwater Drainage
Debt Payments
Airport
Fire Services
Management Svc-Others
Capital Improvements
Parks & Recreation
Development Services
Administration
Amended 2001/02 Budget Adopted 2002/03 Budget
18
00/01
Actual
01/02
Amended
Budget
01/02
Projected
Actual
02/03
Proposed
Budget
03/04
Projected
Budget
Planning & Development 1,284,766 1,768,047 1,707,890 1,569,346 1,497,999
Georgetown Utility System 12,621,874 15,745,161 15,216,768 17,100,801 17,979,544
Management Services 6,027,779 5,827,574 5,767,996 6,308,922 6,246,261
Information Resources 1,027,013 982,517 971,207 1,143,032 1,168,443
Purchased Power (GUS) 16,222,960 14,238,000 15,549,236 15,945,649 16,582,282
Community Services 193,900
Economic Development 337,662 827,864 676,811 720,234 693,752
Capital Improvements 16,630,460 23,660,600 28,739,881 15,414,700 13,680,925
Parks & Recreation 2,705,600 2,716,622 2,586,672 2,733,909 2,702,450
Finance & Administration 5,705,323 6,231,339 6,142,513 7,093,054 7,039,120
Fire Services 3,101,371 3,366,337 3,392,676 3,450,599 3,577,135
Debt Payments 6,159,457 6,330,756 6,239,423 6,984,488 7,543,822
Police Services 4,111,106 4,374,972 4,349,776 4,744,044 4,865,465
Interfund Charges & Transfers 7,641,266 4,080,139 4,665,152 5,236,084 4,584,884
TOTAL BUDGET 83,770,537 90,149,928 96,006,001 88,444,862 88,162,082
Divisional Budget
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
16,000,000
18,000,000
20,000,000
22,000,000
24,000,000
26,000,000
28,000,000
30,000,000
P l a n n i n g & D e v e l o p m e n t
G e o r g e t o w n U t i l i t y S y s t e m
M a n a g e m e n t S e r v i c e s
I n f o r m a t i o n R e s o u r c e s
P u r c h a s e d P o w e r (G U S )
C o m m u n i t y S e r v i c e s
E c o n o m i c D e v e l o p m e n t
C a p i t a l I m p r o v e m e n t s
P a r k s & R e c r e a t i o n
F i n a n c e & A d m i n i s t r a t i o n
F i r e S e r v i c e s
D e b t P a y m e n t s
P o l i c e S e r v i c e s
I n t e r f u n d C h a r g e s & T r a n s f e r s
00/01 Actual 01/02 Amended Budget 01/02 Projected Actual 02/03 Proposed Budget 03/04 Projected Budget
19
20
Property Tax Revenues
Taxable Property Values
0
2,000,000
4,000,000
6,000,000
8,000,000
96/97 97/98 98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06*
0
500,000,000
1,000,000,000
1,500,000,000
2,000,000,000
2,500,000,000
3,000,000,000
97/98 98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06* 06/07*
General Fund Revenue
Debt Service
New & Annexed Property
Existing Property Values
*Projected
*Projected
21
Taxes:
Taxes are levied on January 1 of each year and are considered past due on February 1 of the
following year. Property tax roles are certified in July and the tax rate is adopted in September, along
with the budget. The City’s tax collector, currently the Williamson County Tax Collector, sends
statements in October to each taxpayer.
Taxable Valuations:
Taxable values have risen steadily since 1994 due to rapid residential growth. Commercial and retail
growth have also increased steadily during that period.
4 New construction permits have ranged from 650 to 1,100 per year since 1996.
4 Growth outlook on construction permits is expected at 685 for 2003, based on information from
builders, planned subdivisions within the City and anticipated commercial development.
4 Values on existing property have risen annually 4-9% the last three years.
4 2002/03 new values include $167 million in new construction.
Adopted Property Tax Rate for 2002/03 is $0.30261/$100 valuation:
4 Represents a 1.92% increase over the 2001/02 rate.
4 Breakdown:
Maintenance and Operations (General Fund) $0.20307
Debt Service (payment on existing debt) $0.09954
Future Projections:
Full compliance with the City’s fiscal policy, whereby operating revenues fund operating expenses,
is planned for 2004. A property tax increase is projected for 2004, which should complete funding of
the General Fund operating revenue shortfall, and provide policy compliance. Assumptions for the
forecasts of future years are based upon historical trends, expected build out of planned subdivisions
and utility tap requests. Assumptions include:
4 Continued new property growth of $150 million for the next two years, as new retail properties
currently under construction are completed, with a 3% annual increase in existing valuations.
4 No annexations are included.
4 Tax rates do not include additional debt for future streets, or other capital improvements.
Fiscal Year 97/98 98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06* 06/07*
Property Tax Revenues:
(in thousands)
General Fund 2,036 2,505 2,919 3,260 3,812 4,462 4,967 5,116 5,269 5,426
Debt Service 1,360 1,741 1,867 1,906 2,125 2,125 2,125 2,269 2,263 2,264
Property Values:
(in millions)
Existing Property 775 1,039 1,313 1,519 1,824 2,024 2,084 2,301 2,525 2,693
New & Annexed 210 156 114 110 135 167 150 150 90 90
Property
Tax Rates
Per $100 - taxable 0.350 0.350 0.340 0.314 0.307 0.303 0.318 0.309 0.300 0.291
valuation
*Projected
22
The City receives 1.5% of the 7.75% sales and uses taxes that are remitted by retailers within the City limits. Of this
amount, 1% is used for general operating purposes, with the other .5% used for transportation improvements through
the Georgetown Transportation Enhancement Corporation. The remaining 6.25% is collected and retained by the State
of Texas.
The City’s sales tax base is diverse, with revenues being generated by national grocery and other retailers, building
supply stores, utilities, etc. The heavy residential growth over the past few years has also created a demand for more
restaurants and other retailers, which have expanded the City’s tax base. Sales tax revenue declined 4% in 2001/02
due to the general economic downturn experienced in the region. 2002/03 revenues are expected to stabilize at the
current level, with increases expected in 2003/04 as new retail developments open.
Future projections are based on the following assumptions:
4 2003/04 includes sales tax revenue from the Rivery Towne Center development, which includes Home Depot
and Super Wal-Mart, expected to open late in fiscal year 2003.
4 2004/05 includes full build out of the Rivery Towne Center development, along with the initial phase of the
Wolf Ranch development, a Simon property, expected to open in 2005.
4 Revenues past 2004/05 are projected conservatively, increasing 1.5% annually.
Sales Tax Revenue - 1% General Operating
$2.42M
$2.86M
$3.42M
$3.53M
$3.38M
$3.39M*
$4.03M*
$4.69M*
$4.76M*
$4.83M*
$0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000
97/98
98/99
99/00
00/01
01/02*
02/03*
03/04*
04/05*
05/06*
06/07*
*Projected
24
Electric Revenue
Water Revenue
$29.45M$28.18M
$26.97M$25.81M $24.42M $23.81M$24.34M
$20.79M
$17.84M
$14.82M
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
97/98 98/99 99/00 00/01 01/02* 02/03* 03/04* 04/05* 05/06* 06/07*
$11.39M
$10.90M
$10.43M
$9.98M
$9.47M
$8.90M
$7.20M$7.49M
$6.39M$6.47M
$5.48M
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
96/97 97/98 98/99 99/00 00/01 01/02* 02/03* 03/04* 04/05* 05/06* 06/07*
*Projected
*Projected
25
Utility Revenues:
The revenues shown include tap or hookup fees. Developer contributions, such as capital recovery or impact fees
and interest are presented elsewhere.
Generally, utility revenue projections are based on five-year forecasting models for each utility. The City prepares
a financial model of each utility, forecasting revenues, expected infrastructure needs and other expected
expenses. The models are prepared based upon assumptions regarding customer growth, the City’s five and ten
year capital improvements plans, forecasted increases in costs, including personnel, and historical data. The
models serve as a planning tool to forecast the ability to pay cash for infrastructure, anticipate debt needs for the
upcoming five to ten year period, as well as, predict rate increases for the customer.
Electric and Water Revenues:
4 Calculated on a four-year rolling average of per capita consumption in order to hedge against
variations in weather conditions.
4 Growth estimates are based upon building permits, expected build out of subdivisions and other
planning and development activity.
4 Assumes a 4.5% customer growth for Electric through the next five years as the City adjusts to a
deregulated market. (historical average is 6-7%)
4 Assumes a 4% customer growth for Water for the next five years. (historical average is 6-7%)
The City continues to be proactive in planning for regional water needs. The City has signed additional
agreements with Brazos River Authority to ensure future water needs are met. Major treatment and system
expansions will be made as growth occurs and are included in the 5-year capital improvements schedule.
Wastewater Revenues:
4 Based on average monthly billings adjusted for customer growth.
4 Assumes a 4% customer growth over the next five years. (historical average is 5-6%)
4 Includes a volumetric rate increase from $2.70 to $2.95 per 1,000 gallons of water billed for 2002/03.
4 Includes policy change for commercial customers to pay for actual wastewater use in the summer
months, rather than the previous policy of winter averaging their summer bills implemented in 2001/02.
Wastewater Revenue
$5.79M
$5.54M
$5.30M $5.07M
$4.88M
$4.45M
$4.07M
$3.96M
$3.55M $3.13M
$3.26M
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
96/97 97/98 98/99 99/00 00/01* 01/02* 02/03* 03/04* 04/05* 05/06* 06/07*
*Projected
26
Service Improvement Fees:
Del Webb/Sun City:
These fees are collected from Sun City Texas on a per unit basis to offset costs of infrastructure improvements to
serve the development. The fees, similar to impact fees, are collected for water, wastewater, streets and public
safety improvements as a part of the development agreement for the 12-15 year build out for the project.
4 Water Service Improvement Fees $1,986 per unit
4 Wastewater Service Improvement Fees $1,215 per unit
4 Streets and Fire fees are not significant and are presented as a part of other revenues
Escalara Ranch:
These fees are collected from the developer on a per unit basis to offset the cost of water improvements to the
development. The fee of $3,391 per unit is being collected as the build-out continues.
Impact Fees:
In 1996, the City adopted water and wastewater impact fees under Chapter 395 of the Texas Local Government
Code. These revenues are used as partial funding for qualifying water and wastewater infrastructure projects.
Capital Recovery Fee Revenue
Fiscal Year 97/98 98/99 99/00 00/01 01/02* 02/03* 03/04* 04/05* 05/06* 06/07*
(in thousands)
Service Improvement Fees:
Water 866 632 747 762 649 649 649 649 649 649
Wastewater 530 386 386 363 304 304 304 304 304 304
Total 1,396 1,018 1,133 1,125 953 953 953 953 953 953
Impact Fees:
Water 204 410 495 795 330 413 330 330 330 330
Wastewater 135 245 329 594 240 300 300 300 300 300
Total 339 655 824 1,389 570 713 630 630 630 630
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
97/98 98/99 99/00 00/01 01/02* 02/03* 03/04* 04/05* 05/06* 06/07*
Service Improvement Fees
Impact Fees
*Projected
27
Sanitation Revenue:
Sanitation revenue includes fees collected for curbside garbage pick-up, including recycling and special pick-
ups. Growth in the City’s customer base continues to be steady, mirroring the City’s growth rate. Revenue
projections include a rate increase in 2002/03 from $11.75 to $12.50 per month to fund the increased cost
of the contracted services.
Airport Revenue:
Airport revenue consists primarily of fuel sales, T-hangar rentals and tie-down fees. A 63-space T-hangar
was completed in January 2000, to accommodate demand for hangar rental space, therefore increasing
revenue. Fuel sales have also increased significantly, increasing revenue to the fund.
Stormwater Drainage Revenue:
Revenue for stormwater drainage is collected on a per unit basis to pay for maintenance of drainage,
detention and filtration infrastructure and to pay for the debt service on bonds issued for major capital
drainage improvements. A $0.85 rate increase will be implemented November 2002 to bring the fund into
compliance with the City’s Fiscal and Budgetary Policy by providing a 1.5 times debt service coverage ratio
annually. The increase also provides $200,000 annually for capital infrastructure to correct drainage
problems in the City.
Irrigation Revenue:
Revenue for irrigation reflects effluent and non-potable water sales to large commercial irrigation customers,
such as golf courses. The utility was created in 2001/02 to provide an alternative water source, thus
decreasing the demand for treated water. Revenues increase as the infrastructure is expanded to more
commercial customers.
Other Enterprise Fund Revenues
Fiscal Year 95/96 96/97 97/98 98/99 99/00 00/01 01/02* 02/03* 03/04*
(in thousands)
Stormwater Drainage 260 327 461 616 668 698 904 1,229 1,291
Airport 458 603 596 724 1,324 1,449 1,514 1,562 1,562
Sanitation 1,292 1,507 1,680 1,910 2,089 2,362 2,517 2,796 2,907
Irrigation 150 453 453
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
95/96 96/97 97/98 98/99 99/00 00/01 01/02* 02/03* 03/04*
Irrigation
Sanitation
Airport
Stormwater Drainage
*Projected
28
Interest Income:
The Federal Reserve lowered interest rates over the past year, thus lowering projected interest revenue.
Projections are based on anticipated cash balances from contingency reserves, bond proceeds invested
through the life of construction projects and fund balances.
Grant Revenue:
The City receives grants for a variety of purposes. Council approves all grant applications. The City budgets
for grants that have been approved and awarded by the granting agency. Grant revenue peaked in 1997 and
1998 due to a high number of grants for economic development, parks improvements and law enforcement.
Grant revenue in 1999/00 included money received to partially fund the Airport terminal building construction.
Grant revenue for 2002/03 is $526,175, consisting of the Victim Services Grant for $30,000, COPs in Schools
for $26,991, ASAP for $10,184, Entitlement Grants totaling $450,000 and a State Assisted Airport Routine
Maintenance Grant for $9,000.
Miscellaneous Revenue:
Revenues not falling into another category are classified as miscellaneous revenue. This source of funding
is expected to rise due to fee increases, including building permits, fines, parks fees, recreation charges and
other user fees. Surplus property sales and donations are also included in this category.
Franchise Fee Revenue:
The City receives revenue from franchise fees. These fees are paid by the City and outside utilities for use
of rights of way and public properties and are collected to offset the cost of street maintenance. Increases
in revenue are predicted to mirror the City’s growth rate.
Other Miscellaneous Revenues
Fiscal Year 96/97 97/98 98/99 99/00 00/01* 01/02* 02/03* 03/04*
(in thousands)
Interest Income 819 1,296 1,653 1,962 1,903 1,101 1,123 1,041
Grant Revenue 1,212 1,184 308 945 307 417 526 30
Miscellaneous Revenue 2,365 4,053 2,783 3,208 4,133 4,340 4,589 4,416
Franchise Fees 813 974 1,052 1,388 1,379 1,467 1,546 1,613
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
96/97 97/98 98/99 99/00 00/01 01/02* 02/03* 03/04*
Miscellaneous Revenue
Franchise Fees
Grant Revenue
*Projected
Interest Income
30
All Funds Summary
GENERAL GENERAL
SPECIAL CAPITAL DEBT
TOTAL GENERAL REVENUE PROJECTS SERVICE
BUDGET FUND FUNDS FUNDS FUND
Beginning Fund Balances / 16,891,119 2,452,852 374,278 1,559,498 628,288
Working Capital
SOURCES & REVENUES:
Property taxes 6,587,398 4,462,000 2,125,398
Sales taxes 3,385,000 3,385,000
Bond Proceeds 9,240,000
Bond Reimbursement (6,583,432)
Charges for Services 8,684,221 757,463
Capital Recovery Fees 712,500
Special Improvement Fees 1,235,895 283,050
Utility Revenues 43,237,064
Grants 526,175 67,175
Interest 1,122,537 98,000 60,402 58,000
Other Revenue 9,012,802 4,132,730 601,344
Interfund Transfers - Return On Investment, Etc.4,358,500 3,824,250
Interfund Transfers - Balancing 877,584 850,000 13,004
Total Revenues 82,396,244 17,509,443 681,523 343,452 2,183,398
USES & EXPENSES:
Georgetown Utility Systems 17,100,801 1,790,125
Purchased Power 15,945,649
Economic Development 720,234 369,932
Finance & Administration 7,093,054 211,750 56,097
Fire Services 3,450,599 3,346,799 103,800
Information Resources 1,143,032
Management Services 6,308,922 3,541,462 80,573
Parks & Recreation 2,733,909 2,516,296 217,613
Planning & Development 1,569,346 1,547,046 22,300
Police Services 4,744,044 4,658,483 85,561
Capital Improvements 15,414,700 1,357,000
Debt Payments 6,984,488 2,193,022
Interfund Transfers 5,236,084 13,004
Total Uses & Expenses 88,444,862 17,624,965 935,876 1,357,000 2,193,022
Ending Fund Balance / 10,842,501 2,337,330 119,925 545,950 618,664
Working Capital
RESERVATIONS:
Contingency 8,500,000 2,325,000 60,000
Capital Projects/Other 2,000,641 59,925 545,950 618,664
Available Fund Balance/ 341,860 12,330 0 0 0
Working Capital
31
All Funds Summary
(1) Includes Airport, Sanitation, Stormwater Drainage & Irrigation Funds
OTHER INTERNAL
ELECTRIC WASTEWATER WATER ENTERPRISE SERVICE
FUND FUND FUND FUNDS(1) FUNDS
Beginning Fund Balances / 4,593,719 2,162,788 3,925,378 598,313 596,005
Working Capital
SOURCES & REVENUES:
Property taxes
Sales taxes
Bond Proceeds 585,000 1,800,000 5,530,000 1,325,000
Bond Reimbursement (6,583,432)
Charges for Services 7,926,758
Capital Recovery Fees 300,000 412,500
Special Improvement Fees 303,750 649,095
Utility Revenues 24,419,064 4,875,000 9,465,000 4,478,000
Grants 459,000
Interest 141,891 265,590 337,982 58,672 102,000
Other Revenue 1,430,661 492,385 595,630 1,663,152 96,900
Interfund Transfers - Return On Investment, Etc. 396,250 138,000
Interfund Transfers - Balancing 14,580
Total Revenues 26,576,616 8,432,975 10,406,775 7,983,824 8,278,238
USES & EXPENSES:
Georgetown Utility Systems 4,317,881 3,263,409 5,428,681 698,429 1,602,276
Purchased Power 15,945,649
Economic Development 350,302
Finance & Administration 2,630,567 4,194,640
Fire Services
Information Resources 1,143,032
Management Services 1,333,012 1,353,875
Parks & Recreation
Planning & Development
Police Services
Capital Improvements 3,594,627 4,490,439 3,613,366 2,359,268
Debt Payments 1,184,868 1,293,232 1,750,220 563,146
Interfund Transfers 2,963,040 452,100 1,365,300 430,560 12,080
Total Uses & Expenses 28,006,065 9,499,180 12,157,567 8,014,982 8,656,205
Ending Fund Balance / 3,164,270 1,096,583 2,174,586 567,155 218,038
Working Capital
RESERVATIONS:
Contingency 3,100,000 1,095,000 1,650,000 270,000
Capital Projects/Other 500,250 205,353 70,499
Available Fund Balance/ 64,270 1,583 24,336 91,802 147,539
Working Capital
32
General Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Fund Balance 4,620,075 4,079,943 4,266,378 2,452,852 2,337,330
REVENUES:
Property Taxes 3,259,679 3,812,300 3,812,300 4,462,000 4,967,000
Sales Taxes 3,526,862 3,640,000 3,375,000 3,385,000 4,025,000
Interest 257,453 158,788 98,000 98,000 98,000
Administrative Charges 739,719 719,165 726,759 757,463 764,341
All Other Revenue 3,522,533 4,240,368 3,723,934 4,132,730 4,294,830
Return on Investment 2,877,720 3,472,747 3,679,607 3,824,250 3,953,700
Transfers In - Balancing 2,181,600 850,000
Total Revenues 16,365,566 16,043,368 15,415,600 17,509,443 18,102,871
EXPENSES:
Community Services 193,900
Finance & Administration 165,364 198,548 186,238 211,750 219,663
Fire Services 3,101,371 3,366,337 3,343,276 3,346,799 3,473,335
Georgetown Utility Systems 1,448,327 2,118,017 2,066,591 1,790,125 1,798,399
Management Services 2,213,777 2,400,622 2,290,512 2,268,983 2,311,352
Parks and Recreation 2,467,065 2,539,982 2,495,308 2,516,296 2,595,945
Planning & Development 1,280,166 1,761,763 1,701,606 1,547,046 1,469,361
Police Services 3,949,155 4,245,700 4,152,263 4,658,483 4,819,921
Interfund Nondept'l Chrg 1,147,112 1,050,594 988,176 1,272,479 1,333,660
Transfers Out 753,026 5,156 5,156 13,004 37,984
Total Expenses 16,719,263 17,686,719 17,229,126 17,624,965 18,059,620
Ending Fund Balance 4,266,378 2,436,592 2,452,852 2,337,330 2,380,581
RESERVATIONS:
Contingency 2,203,000 2,325,000 2,325,000 2,325,000 2,325,000
Available Fund Balance 2,063,378 111,592 127,852 12,330 55,581
33
Fund Description:
The General Fund is used to account for resources traditionally associated with government which are not required
legally or by sound financial management to be accounted for in another fund.
Significant Issues/Comments:
4 In 2001/02, the City implemented a new fiscal and budgetary policy to reduce the operating shortfall and the
Fund’s dependency on transfers from the utility fund. 2002/03 is year two of the plan, with full implementation
and elimination of the deficit projected for 2003/04.
4 Funds for streets maintenance, including rehabilitation ($250,000), overlay ($175,000), seal coat ($75,000),
unscheduled street repairs ($95,000) and sidewalk repairs ($75,000) are included in the 2002/03 Street
Department budget.
4 The first phase of a plan to upgrade Public Safety compensation was funded in 2002/03, including $157,000
for Police and $82,000 for Fire to raise starting salaries and implement annual step increases based on years
of service.
4 Fire Services will add three additional firefighters to comply with new regulations.
4 Police Services added a traffic unit (2 positions) to increase safety by enhancing traffic enforcement, as well
as a crime prevention officer to proactively address prevention issues within the community.
Revenues 2002/03
Admin Charges
4%
Interest &
Other
22%
Property Taxes
23%
Fund Balance
9%
Tfr In - Return
on Inv.
20%
Sales Taxes
18%
Expenditures 2002/03
Dev Svcs
9.8%
F&A
1.3%
Fire Svcs
21.1%
Parks
15.9%
Mgt Svcs
14.3%
Police Svcs
29.4%
Intfd
Nondept'l
Chrg
8.0%
34
Electric Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 5,097,504 4,266,384 4,847,993 4,593,719 3,164,270
REVENUES:
Electric Services 24,340,991 21,188,600 23,812,000 24,419,064 25,809,063
Bond Proceeds 1,108,332 1,500,000 585,000
Interest 187,657 182,825 136,525 141,891 148,979
All Other Revenue 923,843 1,154,247 1,189,707 1,430,661 1,354,711
Transfers In 30,017
Total Revenues 26,590,840 24,025,672 25,138,232 26,576,616 27,312,753
EXPENSES:
Georgetown Utility System 3,250,957 3,880,680 3,870,774 4,317,881 4,336,593
Purchased Power 16,222,960 14,238,000 15,549,236 15,945,649 16,582,282
Capital Projects 3,174,170 4,005,600 2,884,500 3,594,627 3,028,900
Debt Payments 1,077,922 1,184,623 1,093,290 1,184,868 1,278,263
Transfers Out 3,114,342 1,773,706 1,994,706 2,963,040 2,119,350
Total Expenses 26,840,351 25,082,609 25,392,506 28,006,065 27,345,388
Ending Working Capital 4,847,993 3,209,447 4,593,719 3,164,270 3,131,635
RESERVATIONS:
Contingency 3,400,000 3,100,000 3,100,000 3,100,000 3,100,000
Available Working Capital 1,447,993 109,447 1,493,719 64,270 31,635
35
Fund Description:
The Electric Fund is used to account for the revenues from all operating and maintenance activities of the
utility and the expenses of the departments, which support those activities. This includes the Electric
department, the Automated Meter Reading (AMR) Department, purchased power costs, debt payments and
capital projects. The fund also makes transfers out to the General Fund for the City’s return on investment for
the Electric utility.
Significant Issues/Comments:
4 Purchased power costs fluctuate with the variances in the fuel surcharge implemented by the Lower
Colorado River Authority, the City’s wholesale supplier. This surcharge is passed along to the City’s
customers as a pass-through charge.
4 The Electric and Water funds share the maintenance of the City’s automated meter reading system.
4 A key account representative will be added to recruit and retain large accounts within the utility system.
The fund will also share in the cost of a utilities financial analyst, to provide on-going financial
administration for the utilities.
4 Capital projects are funded through operating revenues and debt when necessary. In 2003, $2.6 million
of operating revenues and $550,000 of bond proceeds fund the annual capital projects plan.
4 Transfers Out include the 8% return on investment to the General Fund, as well as any needed
balancing transfers.
Revenues 2002/03
Electric
Services
87%
Fund
Balance
5%
Bond
Proceeds
2%
Interest
1%Other
5%
Expenses 2002/03
Operating
15%
Purchased
Power
57%
Capital
Projects
13%
Transfers
11%
Debt
Payments
4%
36
Wastewater Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 7,231,313 4,904,468 4,791,585 2,162,788 1,096,583
REVENUES:
Wastewater Services 4,073,383 4,807,000 4,450,000 4,875,000 5,071,000
Bond Proceeds 791,667 1,800,000 4,350,000
Capital Recovery Fees 593,736 350,000 240,000 300,000 300,000
Special Improvement Fees 363,285 413,100 303,750 303,750 303,750
Interest 514,677 215,300 245,750 265,590 279,429
All Other Revenue 797,768 551,385 392,385 492,385 412,385
Transfers In 825,450 109,350 396,250 396,750
Total Revenues 7,959,966 6,336,785 5,741,235 8,432,975 11,113,314
EXPENSES:
Georgetown Utility System 2,145,901 2,896,506 2,396,349 3,263,409 3,364,375
Capital Projects 6,762,340 4,160,000 3,961,544 4,490,439 5,459,400
Debt Payments 1,177,158 1,190,098 1,190,098 1,293,232 1,685,189
Transfers Out 314,295 892,401 822,041 452,100 453,850
Total Expenses 10,399,694 9,139,005 8,370,032 9,499,180 10,962,814
Ending Working Capital 4,791,585 2,102,248 2,162,788 1,096,583 1,247,083
RESERVATIONS:
Contingency 875,000 1,100,000 1,100,000 1,095,000 1,095,000
Reservation for CIP 818,025 788,988 100,500
Available Working Capital 3,916,585 184,223 273,800 1,583 51,583
37
Fund Description:
The Wastewater Fund is used to account for the revenues from all operating and maintenance activities of the utility
and the expenses of the departments, which support those activities. This includes the Wastewater Collection and
Wastewater Treatment Facilities departments, debt payments and capital projects. The fund also makes transfers
out to the General Fund for the City’s return on investment for the Wastewater utility.
Significant Issues/Comments:
4 The Pecan Branch Wastewater Treatment Plant, which adds 1.5 million gallons of daily treatment capacity
to the City’s system, begins operations on October 1. The additional operating costs for this plant, as well
as overall increases in maintenance costs, have significantly impacted this fund.
4 The City will increase volumetric rates from $2.70 per 1,000 gallons of water billed to $2.95 per 1,000 in
2002/03. Residential customers will still be allowed to “winter average” summer billings for wastewater
services.
4 Capital projects are funded through operating revenues, service improvement fees, impact fees and debt
when necessary. In 2003, debt will be issued to fund plant expansion and upgrades.
4 Wastewater rates will be reviewed again in the upcoming fiscal year, for the costs of implementing Chapter
213 of the Texas Commission on Environmental Quality Edwards Aquifer Protection Program. These
requirements provide for approved testing to locate and repair structural damage and defects that potentially
pose a threat to the Edwards Aquifer. The completion of this project will span a period of eight years and
early estimates for remediation of the system are between $7 and $8 million for the entire project.
Revenues 2002/03
Wastewater
Services
52%
Transfers
4%
Other
5%
Fund Balance
11%
Interest
3%
SIP & CR
Fees
6%
Expenses 2002/03
Operating
34%
Capital
Projects
47%
Debt
Payments
14%
Transfers
5%
38
Water Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 5,735,687 6,645,531 6,941,103 3,925,378 2,174,586
REVENUES:
Water Services 7,198,583 8,091,000 8,900,000 9,465,000 9,980,000
Bond Proceeds 5,530,000
Bond Reimbursement 6,583,432 (6,583,432)
Capital Recovery Fees 795,356 400,000 330,000 412,500 330,000
Special Improvement Fees 762,439 827,835 649,095 649,095 649,095
Interest 390,701 275,627 218,770 337,982 247,600
Grants 148,144
All Other Revenue 977,643 642,780 2,756,353 595,630 518,630
Total Revenues 10,272,866 10,237,242 19,437,650 10,406,775 11,725,325
EXPENSES:
Georgetown Utility System 4,295,632 4,941,712 5,002,339 5,428,681 6,162,839
Capital Projects 982,849 7,165,000 14,707,584 3,613,366 2,610,000
Debt Payments 1,309,699 1,322,745 1,322,745 1,750,220 1,869,237
Transfers Out 2,479,270 1,025,347 1,420,707 1,365,300 1,596,850
Total Expenses 9,067,450 14,454,804 22,453,375 12,157,567 12,238,926
Ending Working Capital 6,941,103 2,427,969 3,925,378 2,174,586 1,660,985
RESERVATIONS:
Contingency 1,700,000 1,650,000 1,650,000 1,650,000 1,650,000
SIP reservation 268,364 100,250
Other 340,000 700,000 700,000 400,000
Available Working Capital 4,632,739 77,969 1,575,378 24,336 10,985
39
Fund Description:
The Water Fund is used to account for the revenues from all operating and maintenance activities of the utility
and the expenses of the Utility Contracts, Water Distribution and Water Treatment Facility departments, which
support those activities. Water expenses also include debt payments, capital costs and the transfers out to
the General Fund for the City’s return on investment for the Water utility.
Significant Issues/Comments:
4 Water supply is provided through agreements with the Brazos River Authority. BRA expenses will
increase due to the scheduled 15% annual raw water cost increase, as well as operational cost for the
Williamson County Raw Water Line, which becomes operational in January 2003.
4 Water treatment costs are anticipated to increase in the Summer of 2003, when the expansion of the
Lake Water Treatment Plant is complete, thus incurring additional plant operational costs.
4 Capital projects are funded through operating revenues, service improvement fees, impact fees and debt
when necessary. The 2002/03 capital project funding includes a debt issue to reimburse cash funds
expended in 2001/02 for the Lake Plant expansion that will be completed in July 2003.
Revenues 2002/03
Water
Services
67%
Fund
Balance
13%
SIP & CR
Fees
7%
Interest
2%
Other
4%
Expenses 2002/03
Capital
Projects
30%
Debt
Payments
14%
Transfers
11%
Operating
45%
40
Fund Description:
The Airport fund is used to account for revenues and expenses related to the operation and maintenance of
the Georgetown Municipal Airport. Capital improvements for the Airport and debt payments on outstanding
debt for the Airport fund are also accounted for here.
Significant Issues/Comments:
4 The terminal building was expanded in 2002, thereby increasing maintenance, insurance, utilities, and
other on-going costs.
4 Fuel sales and accompanying fuel costs fluctuate according to demand.
4 The Airport Advisory Board implemented fee increases effective October 1, 2002 to fund a fiscally
healthy debt service coverage ratio of 1.5 times coverage.
4 Capital projects are funded through operating revenues and grants, as well as debt, when necessary.
The 2002/03 capital projects included the replacement of the game fence on the west side of the airport,
as well as street rehabilitation, funded through entitlement grants from the Federal Aviation
Administration.
Airport Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 279,021 172,267 (12,756) 325,700 355,353
REVENUES:
Fuel & Terminal Sales 1,033,740 1,095,380 1,094,180 1,121,072 1,121,072
Leases & Rents 415,040 419,500 419,500 440,880 440,880
Interest 20,071 9,009 10,018 9,009 9,009
Grant 7,500 288,011 459,000
All Other Revenue 68,000 44,000 44,000 44,000 44,000
Transfers In 11,320 2,304 2,304
Total Revenues 1,548,171 1,577,693 1,858,013 2,073,961 1,614,961
EXPENSES:
Community Services 1,209,504 1,228,368 1,309,327 1,333,012 1,326,111
Capital Projects 455,215 15,000 15,000 510,000 40,000
Debt Payments 175,229 195,230 195,230 201,296 223,449
Total Expenses 1,839,948 1,438,598 1,519,557 2,044,308 1,589,560
Ending Working Capital (12,756) 311,362 325,700 355,353 380,754
RESERVATIONS:
Contingency 150,000 150,000 150,000 150,000 150,000
Capital Projects 161,362 175,700 205,353 230,754
Available Working Capital (162,756) 0 0 0 0
41
Fund Description:
The Sanitation Fund is used to account for revenues from all operating and maintenance activities of the
utility and the expenses of the departments which support those activities. Sanitation includes operating
costs for the City’s payment to a private contractor for solid waste disposal services, as well as contracted
costs for the City’s collection station for bulky waste disposal.
Significant Issues/Comments:
4 Customer growth over the past few years has caused increases in revenues and expenses.
4 Rates for Sanitation services are based on the City’s contract with a private contractor for solid waste
disposal services. A rate increase in 2002/03 from $11.75 to $12.50 is scheduled to fund the
increased cost of the contracted services.
4 The City typically budgets for a contingency fund balance in all funds that have personnel to provide
security of the personnel budget in case of an unexpected fiscal crisis. Because the position in this
fund was transferred after the City contracted for the collection station, the contingency fund was
eliminated. The fund now serves as only a pass-through for revenues and associated contracted
costs.
Sanitation Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 88,493 108,008 117,747 93,739 73,322
REVENUES:
Sanitation Services 2,362,039 2,506,500 2,517,000 2,796,000 2,907,000
All Other Revenue 39,911 37,550 37,550 41,150 41,550
Total Revenues 2,401,950 2,544,050 2,554,550 2,837,150 2,948,550
EXPENSES:
Community Services 2,228,639 2,392,539 2,364,208 2,570,567 2,665,186
Abatement/Clean-Up Program 10,000 60,000 60,000
Transfers Out 144,057 203,500 204,350 227,000 236,000
Total Expenses 2,372,696 2,596,039 2,578,558 2,857,567 2,961,186
Available Working Capital 117,747 56,019 93,739 73,322 60,686
RESERVATIONS:
Contingency 50,000 50,000 50,000
Available Fund Balance 67,747 6,019 43,739 73,322 60,686
42
Fund Description:
The Stormwater Fund is used to account for all operating and maintenance activities of the City’s drainage
system and the debt payments for bonds issued in past years to improve drainage problems.
Significant Issues/Comments:
4 The per unit cost for Stormwater Drainage will increase from $2.90 to $3.75 in 2002/03. This increase
was adopted with the budget, in order to provide long term fiscal viability for the Stormwater Fund by
ensuring a debt service coverage ratio of 1.5 times coverage, as provided by the City’s Fiscal and
Budgetary Policy. This increase also provides $200,000 annually for the correction of drainage problems
within the City.
4 City engineers have prepared a complete Stormwater Drainage Regional plan, which outlines future
capital improvements that are needed to improve drainage in the City. Additional capital and infrastructure
improvements will require additional rate increases in the future.
Stormwater Drainage Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 863,343 481,942 496,922 175,874 138,480
REVENUES:
Stormwater Fees 698,008 937,276 904,000 1,229,000 1,291,000
Bond Proceeds 250,000 725,000
Interest 45,637 7,023 12,200 5,200 13,625
All Other Revenue 11,255 12,150 16,050 16,050 17,050
Transfers In 9,743 1,197 1,197
Total Revenues 764,643 957,646 933,447 1,500,250 2,046,675
EXPENSES:
Georgetown Utility Systems 466,285 597,610 566,233 667,830 685,311
Capital Projects 373,543 445,000 360,000 425,268 962,625
Debt Payments 193,698 254,662 254,662 277,236 276,434
Transfers Out 97,538 75,990 73,600 167,310 104,600
Total Expenses 1,131,064 1,373,262 1,254,495 1,537,644 2,028,970
Ending Working Capital 496,922 66,326 175,874 138,480 156,185
RESERVATIONS:
Contingency 65,000 65,000 65,000 120,000 120,000
Available Working Capital 431,922 1,326 110,874 18,480 36,185
43
Fund Description:
The Irrigation Fund is used to account for sales of effluent and non-potable water to large commercial
irrigation customers and the costs of providing infrastructure for the utility and maintenance on that
infrastructure.
Significant Issues/Comments:
4 The Irrigation Utility was created in 2001/02 to provide a source of irrigation to meet the needs of large
commercial irrigation customers, such as golf courses.
4 A cost of service study was prepared in 2001 to set the rate for the irrigation utility at the cost of
providing the service. The rate is $0.54/1000 gallons.
4 The infrastructure expansion scheduled for 2003 is to connect Georgetown Country Club, through
Rivery Park, to the effluent system.
Irrigation Fund
01/02 02/03 03/04
00/01 01/02 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 00 0 3 , 0 0 0 0
REVENUES:
Irrigation Fees 453,000 150,000 453,000 453,000
Bond Proceeds 1,075,000 485,000
Interest 13,475 7,625 44,463 35,657
Transfers In 494,875 764,875 200,000
Total Revenues 0 961,350 922,500 1,572,463 1,173,657
EXPENSES:
Georgetown Utility System 25,100 10,500 30,599 30,627
Capital Improvements 900,000 900,000 1,400,000 1,000,000
Debt Service 108,614 106,780
Transfers Out 36,250 9,000 36,250 36,250
Total Expenses 0 961,350 919,500 1,575,463 1,173,657
Available Working Capital 0 0 3,000 0 0
44
Fund Description:
Capital projects funds are used to account for the acquisition and construction of major capital facilities other
than those financed by Special Revenue (grants) and Enterprise Funds (i.e. utilities and airport).
Facilities, Parks & Public Safety Capital Projects Funds:
Includes funds for the implementation of the City’s facilities construction plan, which includes the completion
of the renovation of the Municipal Complex on Industrial Avenue for the Georgetown Utility System,
Development Services and the Utility Office, the renovation of the existing GUS complex for the Animal Shelter
and the renovation of City Hall.
Streets Capital Projects Fund:
Includes revenues from the transportation fee received as a part of the City’s development agreement with Sun
City Georgetown. Projects to be constructed with existing funding sources are included in the City’s five-year
capital improvement program.
Transportation projects to be funded through the additional ½ cent sales tax approved in May 2001, are
determined by the Georgetown Transportation Enhancement Corporation (GTEC), the City’s “4B” corporation
which oversees this revenue. The board of GTEC is appointed by the City Council and its budget is approved
annually by Council. Although GTEC is a separate entity from the City, a copy of the GTEC budget is included
in the reference section of this document.
General Capital Projects Funds - Summary 2002/03
FACILITIES, STREETS GENERAL
PARKS & CAPITAL CAPITAL PROJECTS
PUBLIC SAFETY PROJECTS TOTAL
Beginning Fund Balance 865,673 693,825 1,559,498
REVENUES:
Interest 31,327 29,075 60,402
Service Improvement Fees 283,050 283,050
Total Revenues 31,327 312,125 343,452
EXPENDITURES:
Capital Projects 897,000 460,000 1,357,000
Total Expenditures 897,000 460,000 1,357,000
Ending Fund Balance 0 545,950 545,950
SIP Reservation 545,950 545,950
Available Fund Balance 0 0 0
45
Fund Description:
Special revenue funds (SRF’s) are used to account for specific revenues that are legally restricted for
expenditures for particular purposes. The City uses these funds to track revenues and expenditures for:
4 Grants
4 Hotel Occupancy Tax (HOT)
4 Parkland dedication fees
4 Donations
4 Police seizures
Significant Issues/Comments:
4 These funds vary significantly with the level of donation and grant activity for each year.
4 Hotel Occupancy Tax decreased 23% from 2001 to 2002. The decrease is attributed to an overall
downturn in the economy, less travel due to September 11, 2001 events and the opening of new
properties in the nearby Round Rock area. The City adjusted expenditures to accommodate the
downturn, while planning more community events to increase future revenues.
Special Revenue Funds - Summary 2002/03
BEGINNING ENDING
FUND FUND
FUND DIVISION/SECTION BALANCE REVENUES EXPENDITURES BALANCE
Animal Service Fund Management Services 0 15,400 15,400 0
Cemetery Fund Parks & Recreation 0 56,180 56,180 0
Court Fee Fund Finance & Administration 0 21,700 21,700 0
Fire Billing for Service Fire Services 0 103,800 103,800 0
Library Donations Management Services 0 21,100 21,100 0
Main Street Facade Fund Economic Development 0 1,200 1,200 0
Mapping Fund Planning & Development 7,138 21,500 28,638 0
Parks Restricted Parks & Recreation 0 50,325 50,325 0
Police Restricted Police Services 0 45,544 45,544 0
Tourism Fund Economic Development 112,787 369,579 337,627 144,739
Total Special Revenue Funds 119,925 706,328 681,514 144,739
46
Fund Description:
Facilities Maintenance Fund:
Provides janitorial services, light maintenance, equipment repair and replacement (copiers, HVAC, etc.),
landscape maintenance, building repair and replacement (roofs, painting, carpet) on an established
schedule. Charges for services to each department are made based on predetermined lease fees.
Fleet Management Fund:
Provides vehicles, vehicle equipment and communications equipment to all using City departments, as
well as maintenance of all vehicles. Charges for services are based on annualized replacement and
maintenance costs of each vehicle.
Information Services Fund:
Provides computer hardware, software, training and staff support to all using City departments. Charges
are based on hardware and software replacements for each department.
Joint Services Fund:
Composed of departments providing administrative services to City funds and departments. GUS
Administration, Pump Maintenance, Systems Engineering and Utility Office provide support to the City’s
utility funds. Administrative departments, including Accounting, Human Resources and Safety, Finance
Administration and Purchasing and Properties provide support to all City funds and departments.
Internal Service Funds - Summary 2002/03
FACILITIES FLEET INFORMATION JOINT INTERNAL
MAINTENANCE MANAGEMENT SERVICES SERVICES SERVICES FUND
FUND FUND FUND FUND TOTAL
Beginning Working Capital 0 246,970 31,728 317,307 596,005
REVENUES:
Charges for Services 492,785 1,261,009 1,074,806 5,124,558 7,953,158
Interest & Other 10,000 40,000 25,500 87,000 162,500
Sale of Property 10,000 10,000
Interfund Transfers 138,000 14,580 152,580
Total Revenues 502,785 1,449,009 1,114,886 5,211,558 8,278,238
EXPENSES:
Georgetown Utility System 1,602,276 1,602,276
Economic Development 350,302 350,302
Finance & Administration 502,582 1,629,265 2,062,793 4,194,640
Information Resources 1,143,032 1,143,032
Management Services 1,353,875 1,353,875
Interfund Transfers 12,080 12,080
Total Expenses 502,582 1,629,265 1,143,032 5,381,326 8,656,205
Ending Working Capital 203 66,714 3,582 147,539 218,038