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Summary
Financial Summary Table of Contents
Summary
Budgeted Revenues.................................................................................................................19
Program Budget.......................................................................................................................20
Divisional Budget......................................................................................................................21
Revenues
Property Taxes.........................................................................................................................22
Sales Tax .................................................................................................................................24
Utility Revenues .......................................................................................................................26
Capital Recovery Fees.............................................................................................................28
Other Enterprise Fund Revenues.............................................................................................29
Other Miscellaneous Revenues ...............................................................................................30
Fund Summaries
All Funds Summary..................................................................................................................32
General Fund ...........................................................................................................................34
Electric Fund ............................................................................................................................36
Water Services Fund................................................................................................................38
Airport Fund..............................................................................................................................40
Sanitation Fund........................................................................................................................41
Stormwater Drainage Fund......................................................................................................42
General Capital Projects Funds ...............................................................................................43
Special Revenue Funds...........................................................................................................44
Internal Service Funds .............................................................................................................45
01/02
Actual
02/03
Amended
Budget
02/03
Projected
Actual
03/04
Proposed
Budget
04/05
Projected
Budget
Property Taxes 6,009,214 6,577,398 6,637,535 7,129,000 7,139,000
Sales Taxes 3,453,856 3,825,000 4,090,000 5,500,000 4,500,000
Bond Proceeds 9,558,450 6,500,000 7,975,000 7,270,000
Bond Reimbursement (6,583,432)
Charges for Services 7,849,075 8,710,621 8,547,291 8,971,533 8,973,381
Capital Recovery Fees 336,661 412,500 412,500 330,000 380,000
Utility Revenues 39,799,610 43,237,064 44,054,690 47,794,986 50,719,730
Grants 471,661 647,972 166,479 793,910 30,000
Other Revenue 9,903,292 10,355,062 10,949,095 10,356,452 9,868,156
Service Improvement Fees 1,426,595 1,235,895 2,274,795 2,274,795 2,274,795
Fund Balance Used 18,884,583 7,050,701 (4,634,386)6,885,418 (2,641,897)
Interest 1,192,128 1,208,877 1,164,903 440,766 415,865
Interfund Transfers 3,721,475 4,926,434 5,003,503 5,729,614 4,951,982
TOTAL REVENUES 93,048,150 91,162,542 85,166,405 104,181,474 93,881,012
Budgeted Revenues
2003-2004
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
19
Amended Adopted
2002/03 Budget %2003/04 Budget %
Police Services 4,714,844 6.1%5,237,474 5.8%
Streets 1,625,438 2.1%1,706,784 1.9%
Electric 18,347,023 23.7%21,286,836 23.8%
Public Library 842,386 1.1%838,760 0.9%
Economic Development 350,350 0.5%343,339 0.4%
Water Services 6,197,211 8.0%7,610,742 8.5%
Sanitation 2,426,600 3.1%2,479,930 2.8%
Stormwater Drainage 318,524 0.4%347,547 0.4%
Debt Payments 6,977,436 9.0%7,620,807 8.5%
Airport 1,206,967 1.6%1,207,990 1.3%
Fire Services 3,368,096 4.3%3,473,230 3.9%
Management Svc-Others 737,406 1.0%1,139,442 1.3%
Capital Improvements 17,749,695 22.9%23,007,165 25.7%
Parks & Recreation 2,468,251 3.2%2,477,223 2.8%
Planning & Development 1,429,346 1.8%1,388,446 1.6%
Administration 8,792,314 11.3%9,398,412 10.5%
Budget Total By Program 77,551,887 100.0%89,564,127 100.0%
Interfund Transfers & Premiums 13,610,655 14,617,347
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 Services
Sanitation
Stormwater Drainage
Debt Payments
Airport
Fire Services
Management Svc-Others
Capital Improvements
Parks & Recreation
Planning & Development
Administration
Amended 2002/03 Budget Adopted 2003/04 Budget
20
01/02
Actual
02/03
Amended
Budget
02/03
Projected
Actual
03/04
Proposed
Budget
04/05
Projected
Budget
Planning & Development 1,675,355 1,584,846 1,570,874 1,572,299 1,562,217
Georgetown Utility Systems 15,196,281 17,073,051 17,271,938 18,491,217 18,764,938
Management Services 7,207,926 7,880,084 7,745,375 8,773,085 7,991,569
Purchased Power (GUS) 14,746,502 15,945,649 17,600,000 18,600,000 19,800,000
Capital Improvements 27,533,860 17,749,695 10,802,385 23,007,165 13,558,600
Parks & Recreation 2,533,071 2,808,909 2,558,845 2,841,842 2,777,292
Finance & Administration 6,164,766 7,498,104 7,392,580 8,229,516 7,413,157
Fire Services 3,392,086 3,595,523 3,486,995 3,831,249 3,876,960
Debt Payments 6,250,072 6,977,436 6,579,550 7,620,807 7,743,335
Police Services 4,626,756 5,122,811 5,154,360 5,484,680 5,440,962
Interfund Charges & Transfers 3,721,475 4,926,434 5,003,503 5,729,614 4,951,982
TOTAL BUDGET 93,048,150 91,162,542 85,166,405 104,181,474 93,881,012
Budgeted Expenses
2003-2004
Planning & Development
Georgetown Utility Systems
Management Services
Purchased Power (GUS)Capital Improvements
Parks & Recreation
Finance & Administration
Fire Services
Debt Payments
Police Services
Interfund Charges & Transfers
21
22
Property Tax Revenues
Taxable Property Values
0
2,000,000
4,000,000
6,000,000
8,000,000
97/98 98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06* 06/07* 07/08*
0
500,000,000
1,000,000,000
1,500,000,000
2,000,000,000
2,500,000,000
3,000,000,000
98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06* 06/07* 07/08*
General Fund Revenue
Debt Service
New & Annexed Property
Existing Property Values
*Projected
*Projected
23
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:
4 New construction permits have ranged from 650 to 1,100 per year since 1996.
4 Growth outlook on construction permits is expected at 630 for 2004, based on information from
builders, planned subdivisions within the City and anticipated commercial development.
4 Values on existing property declined 3% in 2003/04. Prior to 2003/04, property values had shown
an increase of 4-9% annually.
4 2003/04 new values include $92 million in new construction.
Adopted Property Tax Rate for 2003/04 is $0.32194/$100 valuation:
4 Represents a 2.93% increase over the 2002/03 rate.
4 Breakdown:
Maintenance and Operations (General Fund) $0.22177
Debt Service (payment on existing debt) $0.10017
Future Projections:
Full compliance with the City’s fiscal policy, whereby General Fund operating revenues fund operating
expenses, is achieved in 2004. 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 2004-07, as new retail properties are
added to the tax role, with a 1% 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 98/99 99/00 00/01 01/02 02/03 03/04* 04/05* 05/06* 06/07* 07/08*
Property Tax Revenues:
(in thousands)
General Fund 2,505 2,919 3,260 3,814 4,495 4,929 5,039 5,089 5,140 5,192
Debt Service 1,741 1,867 1,906 2,204 2,142 2,210 2,110 2,131 2,152 2,174
Property Values:
(in millions)
Existing Property 1,039 1,313 1,519 1,804 1,949 2,130 2,245 2,419 2,595 2,772
New & Annexed 156 114 110 135 167 92 150 150 150 90
Property
Tax Rates
Per $100 - taxable 0.350 0.340 0.314 0.307 0.303 0.322 0.319 0.316 0.312 0.309
valuation
*Projected
24
The City receives 1.75% of the 8% sales and uses taxes that are remitted by retailers within the City limits. Of this
amount, 1% is used for general operating purposes, .5% is used for transportation improvements through the
Georgetown Transportation Enhancement Corporation (GTEC), and .25% is used for street maintenance. 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 increased in slightly in
2002/03, during a time when surrounding communities experienced a downturn in sales tax revenues. This increase
is directly attributed to the increase in new retail developments within the City, such as Walgreens, a second HEB grocery
and numerous other smaller retailers. 2003/04 revenues are expected to increase as new retail developments at the
Rivery Towne Center open.
Future projections are based on the following assumptions:
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 2005/06 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 $6,000,000
97/98
98/99
99/00
00/01
01/02
02/03*
03/04*
04/05*
05/06*
06/07*
*Projected
26
Electric Revenue
Water Services Revenue - Water
$18.21M
$21.159M
$24.80M
$23.67M $25.68M
$28.19M
$30.13M
$31.75M $32.61M $33.49M
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06* 06/07* 07/08*
$12.61M$12.07M
$11.55M $11.06M
$10.59M$10.13M
$8.99M
$8.02M$8.01M
$6.74M
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06* 06/07* 07/08*
*Projected
*Projected
27
Utility Revenues:
The revenue 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 5% 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 improvement schedule.
Wastewater Revenues:
4 Based on average monthly billings adjusted for customer growth.
4 Assumes a 5% customer growth over the next five years. (historical average is 5-6%)
4 Includes a volumetric rate increase from $2.95 to $3.10 per 1,000 gallons of water billed for 2003/04,
and an additional volumetric rate increase from $3.10 to $3.25 per 1,000 gallons of water billed for
2004/05 to 2007/08.
Water Services Revenue - Wastewater
$7.33M
$7.00M
$6.68M
$6.25M
$5.95M
$5.30M
$4.65M
$4.77M $4.38M
$3.83M
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
$8,000,000
98/99 99/00 00/01 01/02 02/03* 03/04* 04/05* 05/06* 06/07* 07/08*
*Projected
29
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. The City
contracts with Texas Disposal Systems for garbage service.
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. The rate of $3.75 per unit also provides $200,000 annually for capital maintenance
to correct drainage problems in the City.
Other Enterprise Fund Revenues
Fiscal Year 96/97 97/98 98/99 99/00 00/01 01/02* 02/03* 03/04* 04/05*
(in thousands)
Stormwater Drainage 327 461 616 668 698 885 1,229 1,328 1,395
Airport 603 596 724 1,324 1,449 1,431 1,447 1,558 1,558
Sanitation 1,507 1,680 1,910 2,089 2,362 2,500 2,744 2,850 2,996
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
96/97 97/98 98/99 99/00 00/01 01/02 02/03* 03/04* 04/05*
Sanitation
Airport
Stormwater Drainage
*Projected
30
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 2003/04 is $793,910, consisting of the Victim Services Grant for $30,000, Homeland Security
grant for $63,910, and a Lower Colorado River Authority (LCRA) park improvement grant of $700,000.
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 97/98 98/99 99/00 00/01 01/02 02/03* 03/04* 04/05*
(in thousands)
Interest Income 1,296 1,653 1,962 1,903 1,192 1,165 441 416
Grant Revenue 1,184 308 945 307 472 166 794 30
Miscellaneous Revenue 4,053 2,783 3,208 4,133 4,173 4,782 4,853 4,984
Franchise Fees 974 1,052 1,388 1,379 1,489 1,617 1,735 1,826
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
97/98 98/99 99/00 00/01 01/02 02/03* 03/04* 04/05*
Miscellaneous Revenue
Franchise Fees
Grant Revenue
*Projected
Interest Income
32
All Funds Summary
GENERAL GENERAL
SPECIAL CAPITAL DEBT
TOTAL GENERAL REVENUE PROJECTS SERVICE
BUDGET FUND FUNDS FUNDS FUND
Beginning Fund Balances / 17,360,796 3,017,729 619,433 1,175,470 624,777
Working Capital
SOURCES & REVENUES:
Property taxes 7,129,000 4,929,000 2,200,000
Sales taxes 5,500,000 4,400,000 1,100,000
Bond Proceeds 7,975,000 1,150,000
Charges for Services 8,971,533 809,576
Capital Recovery Fees 330,000
Special Improvement Fees 2,274,795 16,800
Utility Revenues 47,794,986
Grants 793,910 793,910
Interest 440,766 35,500 12,590 14,130 25,000
Other Revenue 10,356,452 4,456,325 654,234 850,000
Interfund Transfers - ROI, Etc.5,729,614 4,204,800 103,956
Total Revenues 97,296,056 18,835,201 2,664,690 2,030,930 2,225,000
USES & EXPENSES:
Georgetown Utility Systems 18,491,217 1,902,924
Purchased Power 18,600,000
Finance & Administration 8,229,516 234,035 74,837
Fire Services 3,831,249 3,646,249 185,000
Management Services 8,773,085 3,810,437 410,985
Parks & Recreation 2,841,842 2,786,642 55,200
Planning & Development 1,572,299 1,533,017 39,282
Police Services 5,484,680 5,321,125 163,555
Capital Improvements 23,007,165 2,120,515 2,104,000
Debt Payments 7,620,807 2,435,595
Interfund Transfers 5,729,614 131,661 1,085,600
Total Uses & Expenses 104,181,474 19,366,090 3,049,374 3,189,600 2,435,595
Ending Fund Balance / 10,475,378 2,486,840 234,749 16,800 414,182
Working Capital
RESERVATIONS:
Contingency 9,000,000 2,450,000 75,000
Capital Projects/Other 1,137,581 159,749 16,800 414,182
Available Fund Balance/ 337,797 36,840 0 0 0
Working Capital
33
All Funds Summary
OTHER INTERNAL
ELECTRIC WATER ENTERPRISE SERVICE
FUND SERVICES (2) FUNDS (1) FUNDS
Beginning Fund Balances / 4,776,015 6,347,771 533,697 265,904
Working Capital
SOURCES & REVENUES:
Property taxes
Sales taxes
Bond Proceeds 1,450,000 5,375,000
Charges for Services 8,161,957
Capital Recovery Fees 330,000
Special Improvement Fees 2,257,995
Utility Revenues 27,850,186 15,766,293 4,178,507
Grants
Interest 45,479 127,125 50,442 130,500
Other Revenue 1,244,031 1,376,860 1,767,002 8,000
Interfund Transfers - ROI, Etc. 1,420,858
Total Revenues 30,589,696 25,233,273 5,995,951 9,721,315
USES & EXPENSES:
Georgetown Utility Systems 4,750,225 9,916,613 732,865 1,188,590
Purchased Power 18,600,000
Finance & Administration 2,685,007 5,235,637
Fire Services
Management Services 1,278,224 3,273,439
Parks & Recreation
Planning & Development
Police Services
Capital Improvements 4,967,500 13,414,250 400,900
Debt Payments 1,285,269 3,421,758 478,185
Interfund Transfers 2,471,900 1,586,100 338,800 115,553
Total Uses & Expenses 32,074,894 28,338,721 5,913,981 9,813,219
Ending Fund Balance / 3,290,817 3,242,323 615,667 174,000
Working Capital
RESERVATIONS:
Contingency 3,250,000 2,925,000 300,000
Capital Projects/Other 227,850 145,000 174,000
Available Fund Balance/ 40,817 89,473 170,667 0
Working Capital
(1) Includes Airport, Sanitation, & Stormwater Drainage
(2) Includes Water, Wastewater, & Irrigation
34
General Fund
02/03 03/04 04/05
01/02 02/03 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Fund Balance 4,300,074 2,514,352 2,756,442 3,017,729 2,486,840
REVENUES:
Property Taxes 3,813,772 4,462,000 4,495,493 4,929,000 5,039,000
Sales Taxes 3,453,856 3,385,000 3,650,000 4,400,000 4,500,000
Interest 93,564 98,000 45,500 35,500 35,500
Administrative Charges 843,739 757,463 753,753 809,576 812,912
All Other Revenue 3,774,694 4,132,730 4,234,324 4,456,325 4,605,425
Return on Investment 3,598,655 3,824,250 3,857,300 4,204,800 4,375,900
Transfers In - Balancing 850,000 850,000
Total Revenues 15,578,280 17,509,443 17,886,370 18,835,201 19,368,737
EXPENSES:
Georgetown Utility Systems 1,867,618 1,790,125 1,789,748 1,902,924 1,904,503
Planning & Development 1,670,006 1,562,546 1,548,574 1,533,017 1,532,117
Finance & Administration 181,878 211,750 211,750 234,035 234,035
Fire Services 3,354,675 3,346,799 3,305,595 3,646,249 3,733,392
Management Services 2,028,824 1,934,748 1,916,411 2,442,604 2,075,179
Parks & Recreation 2,489,637 2,516,296 2,500,786 2,786,642 2,672,142
Police Services 4,448,655 5,038,718 5,031,065 5,321,125 5,370,017
Interfund Nondept'l Chrg 1,075,463 1,272,479 1,308,150 1,367,833 1,379,994
Transfers Out 5,156 13,004 13,004 131,661 55,082
Total Expenses 17,121,912 17,686,465 17,625,083 19,366,090 18,956,461
Ending Fund Balance 2,756,442 2,337,330 3,017,729 2,486,840 2,899,116
RESERVATIONS:
Contingency 2,325,000 2,325,000 2,325,000 2,450,000 2,600,000
Available Fund Balance 431,442 12,330 692,729 36,840 299,116
35
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 funds. Full implementation, including elimination of the deficit,
occurred in 2003/04.
4 Funds for street maintenance, including overlay ($100,000), seal coat ($50,000), unscheduled street repairs
($225,000), curb repairs ($75,000), sidewalk repairs ($75,000), and micro-surfacing of existing streets
($200,000) are included in the 2003/04 Street Department budget, as well as, a new three person crew to
address street cuts and other minor street repairs.
4 The second phase of a plan to upgrade Public Safety compensation was funded in 2003/04, including
$117,448 for Police and $62,458 for Fire which increases the step levels in Police from 2% to 2.5% and from
2% to 2.25% in Fire.
4 The first phase of the Downtown Master Plan implementation is funded in Management Services. This
includes signage and capital improvements designed to enhance the beauty and economic viability of the
downtown shopping area.
Fiscal Year 2003/04
Revenues
Admin Charges
4%
Interest &
Other
23%
Property Taxes
25%
Fund Balance
3%
Tfr In - Return
on Inv.
22%
Sales Taxes
23%
Expenditures
Planning &
Dev
7.9%
F&A
1.2%
Fire Svcs
18.8%Mgt Svcs
12.6%
Parks & Rec
14.4%
Police Svcs
27.5%
Interfund
Nondept'l
Chrg
7.1%
36
Electric Fund
02/03 03/04 04/05
01/02 02/03 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 4,939,326 4,593,719 5,164,751 4,776,015 3,290,817
REVENUES:
Electric Services 23,412,202 24,419,064 25,356,387 27,850,186 29,792,400
Bond Proceeds 585,000 563,000 1,450,000 800,000
Interest 123,706 141,891 89,056 45,479 51,000
All Other Revenue 1,193,851 1,430,661 2,567,716 1,244,031 1,244,335
Total Revenues 24,729,759 26,576,616 28,576,159 30,589,696 31,887,735
EXPENSES:
Georgetown Utility System 3,930,427 4,317,281 4,224,150 4,750,225 4,787,685
Purchased Power 14,746,502 15,945,649 17,600,000 18,600,000 19,800,000
Capital Projects 2,776,814 3,594,627 2,876,700 4,967,500 3,528,400
Debt Payments 1,087,140 1,185,468 1,185,468 1,285,269 1,323,337
Transfers Out 1,963,451 2,963,040 3,063,490 2,471,900 2,450,300
Total Expenses 24,504,334 28,006,065 28,949,808 32,074,894 31,889,722
Ending Working Capital 5,164,751 3,164,270 4,791,102 3,290,817 3,288,830
RESERVATIONS:
Contingency 3,100,000 3,100,000 3,100,000 3,250,000 3,250,000
Available Working Capital 2,064,751 64,270 1,691,102 40,817 38,830
37
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 An electric crew is added in 2004 to ensure adequate maintenance of the system.
4 Capital projects are funded through operating revenues and debt when necessary. In 2004, $2.6 million
of operating revenues and $1,450,000 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 transfers to the Fleet
Fund for new program equipment.
Fiscal Year 2003/04
Revenues
Electric
Services
86%
Fund
Balance
5%
Bond
Proceeds
5%
Interest
0%Other
4%
Expenses
Operating
15%
Purchased
Power
58%
Capital
Projects
15%
Transfers
8%
Debt
Payments
4%
38
Fund Description:
The Water Services Fund is used to account for the revenues from all operating and maintenance activities
for water, wastewater and irrigation and the expenses of the Utility Contracts, Distribution and Treatment
Facility departments which support those activities. Expenses also include debt payments, capital costs and
the transfers out to the General Fund for the City’s return on investment. Each utility service type is tracked
separately for rate design purposes to ensure rates are charged to fully recover operational costs
Water Services Fund
02/03 03/04 04/05
01/02 02/03 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 12,444,402 6,091,165 (417,951) 6,347,771 3,242,323
REVENUES:
Water Services 8,448,092 9,465,000 9,465,000 9,817,936 10,283,682
Wastewater Services 4,373,795 4,875,000 5,023,752 5,601,200 5,902,400
Irrigation Services 180,236 453,000 236,749 347,157 350,417
Bond Proceeds 8,405,000 5,937,000 5,375,000 4,800,000
Bond Reimbursement (6,583,432)
Capital Recovery Fees 336,661 412,500 412,500 330,000 380,000
Special Improvement Fees 1,128,520 952,845 2,257,995 2,257,995 2,257,995
Interest 505,271 648,035 877,362 127,125 148,625
All Other Revenue 2,705,970 1,388,015 1,311,263 1,376,860 1,449,860
Total Revenues 17,678,545 20,015,963 25,521,621 25,233,273 25,572,979
EXPENSES:
Georgetown Utility System 7,563,559 8,687,589 9,048,420 9,916,613 10,158,072
Capital Projects 19,349,401 9,476,305 5,449,444 13,414,250 8,548,200
Debt Payments 2,507,779 3,120,115 2,744,135 3,421,758 3,819,302
Transfers Out 1,330,159 1,551,950 1,513,900 1,586,100 1,572,600
Total Expenses 30,750,898 22,835,959 18,755,899 28,338,721 24,098,174
Ending Working Capital (627,951) 3,271,169 6,347,771 3,242,323 4,717,128
RESERVATIONS:
Contingency 2,750,000 2,745,000 2,745,000 2,925,000 2,925,000
SIP reservation 395,000 100,250 227,850 1,241,775
Other 1,450,000 400,000 450,000
Available Working Capital (5,222,951) 25,919 3,602,771 89,473 100,353
39
Significant Issues/Comments:
4 Water supply is provided through agreements with the Brazos River Authority. BRA expenses will
increase due to the scheduled 15% increase in raw water cost, as well as principal and interest
payments and operational cost for the Williamson County Raw Water Line, which became operational
in 2003.
4 Treatment costs have increased substantially due to the opening of the Pecan Branch Wastewater
Treatment Plant and the expansion of the Lake Water Treatment Plant.
4 Capital projects are funded through operating revenues, service improvement fees, impact fees and debt
when necessary. 2003/04 Capital Improvements Plan includes debt issue for the infrastructure
improvements for the Wolf Ranch Development, as well as engineering costs for expansion of the Dove
Springs Wastewater Treatment Plant.
4 Water rates were adjusted from $2.13 to $2.25 per1,000 gallons effective October 1, 2003, as planned
in the 2001 rate study to fund increased water costs, as well as the contractual payment for the
Williamson County Raw Water Line. Wastewater rates were adjusted from $2.95 to $3.10 per 1,000
gallons as well, to fund on-going repairs for the Edwards Aquifer inflow and infiltration mandates.
4 The fund shows a negative available fund balance at the end of fiscal year 2002, due to an encumbrance
for the entire Lake Water Treatment Plant expansion contract. Bonds were issued for the project in the
Fall of 2002, to meet the project’s cash flow needs.
4 Service Improvement Fees increase beginning in 2002/03 due to the revised SIP fee amounts, as well
as, a 300 unit per year guarantee included in the Del Webb Seventh Amendment, approved in March
2003.
Fiscal Year 2003/04
Revenues
Water
Services
29%
Wastewater
Services
16%
Interest
1%Other
4%
Fund
Balance
26%
Bond
Proceeds
16%
SIP & CR
Fees
8%
Expenses
Capital
Projects
47%
Debt
Payments
12%
Transfers
6%
Operating
35%
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. The Airport was awarded a Federal Entitlement Grant
for airport improvements that will be administered by the Aviation Division of the Texas Department of
Transportation. This grant will be used in the rehabilitation of existing runways, taxiways, streets and other
on-site improvements. The grant match was 10% at a cost of $50,000 paid in the 2002/03 budget year.
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. Fuel sales were less than
anticipate in 2002/03, thus resulting in less ending booking capital at YE03 than projected.
4 There are no capital projects budgeted in 2003/04 or 2004/05.
Airport Fund
02/03 03/04 04/05
01/02 02/03 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital (39,030) 325,700 281,296 187,499 299,478
REVENUES:
Fuel & Terminal Sales 1,008,843 1,121,072 1,004,180 1,116,892 1,116,892
Leases & Rents 422,335 440,880 443,270 440,880 440,880
Interest 16,426 9,009 7,500 8,000 8,000
Grant 257,305 459,000 12,500
All Other Revenue 50,999 44,000 44,000 48,180 48,180
Transfers In 2,304
Total Revenues 1,758,212 2,073,961 1,511,450 1,613,952 1,613,952
EXPENSES:
Management Services 1,242,659 1,338,270 1,328,652 1,278,224 1,286,458
Capital Projects 504,442 75,000
Debt Payments 195,227 201,595 201,595 223,749 190,867
Total Expenses 1,437,886 2,044,307 1,605,247 1,501,973 1,477,325
Ending Working Capital 281,296 355,354 187,499 299,478 436,105
RESERVATIONS:
Contingency 150,000 150,000 150,000 150,000 150,000
Capital Projects 205,354 37,499 149,478 286,105
Available Working Capital 131,296 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.
4 Increased advertising for the recycling program and implementation of a Household Hazardous Waste
program are planned for 2003/04.
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
02/03 03/04 04/05
01/02 02/03 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 118,270 93,739 66,020 31,556 6,799
REVENUES:
Sanitation Services 2,499,864 2,796,000 2,743,800 2,850,400 2,996,000
All Other Revenue 43,772 41,150 41,150 41,150 41,150
Total Revenues 2,543,636 2,837,150 2,784,950 2,891,550 3,037,150
EXPENSES:
Finance & Administration 2,391,947 2,630,567 2,596,614 2,655,907 2,772,253
Hazardous Waste Clean-up 29,100 29,100
Transfers Out 203,939 227,000 222,800 231,300 240,100
Total Expenses 2,595,886 2,857,567 2,819,414 2,916,307 3,041,453
Available Working Capital 66,020 73,322 31,556 6,799 2,496
RESERVATIONS:
Contingency 50,000
Available Fund Balance 16,020 73,322 31,556 6,799 2,496
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 was increased from $2.90 to $3.75 in 2002/03 and provides
$200,000 annually for the correction of drainage problems within the City.
4 City engineers have prepared a complete Regional Stormwater Drainage Master Plan (RSMP), which
outlines future capital improvements that are needed to improve drainage in the City. The City will be
adopting a new RSMP fee for this purpose as part of the Unified Development Code in early 2004 to fund
the infrastructure outlined in the plan.
Stormwater Drainage Fund
02/03 03/04 04/05
01/02 02/03 PROJECTED ADOPTED PROJECTED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 510,758 175,874 215,817 314,642 309,390
REVENUES:
Stormwater Fees 885,421 1,229,000 1,229,002 1,328,107 1,394,831
Bond Proceeds 250,000
RSMP Revenue 145,000 290,000
Interest 19,210 5,200 3,300 1,292 2,300
All Other Revenue 13,780 16,050 16,050 16,050 16,050
Transfers In 1,197
Total Revenues 919,608 1,500,250 1,248,352 1,490,449 1,703,181
EXPENSES:
Georgetown Utility Systems 549,245 667,830 664,537 732,865 728,331
Capital Projects 338,496 425,268 62,450 400,900 302,000
Debt Payments 255,129 277,236 255,330 254,436 260,462
Transfers Out 71,679 167,310 167,210 107,500 112,900
Total Expenses 1,214,549 1,537,644 1,149,527 1,495,701 1,403,693
Ending Working Capital 215,817 138,480 314,642 309,390 608,878
RESERVATIONS:
Contingency 65,000 120,000 120,000 150,000 150,000
Regional Stormwater Master Plan 145,000 335,000
Available Working Capital 150,817 18,480 194,642 14,390 123,878
43
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 and Parks 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, the renovation of the existing
GUS complex for the Parks Department, and the renovation of the old Pumps facility to expand the Animal
Shelter.
Streets Capital Projects Fund:
Includes revenues from the various transportation fees received by the City through development
agreements. Projects to be constructed with existing funding sources are included in the City’s five-year
capital improvement program.
2003/04 includes funds received from Williamson County for the Shell Road Project.
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.
Public Safety Capital Projects Fund:
Includes funds for the replacement of a fire truck, as well as implementation of Phase II of the police
vehicle replacement program, and adding unmarked vehicles and patrol laptops to the vehicles. These
costs are funded with short term debt obligations in 2004.
General Capital Projects Funds - Summary 2003/04
FACILITIES & STREETS GENERAL
PARKS PUBLIC SAFETY CAPITAL CAPITAL PROJECTS
PROJECTS PROJECTS PROJECTS TOTAL
Beginning Fund Balance 604,600 570,870 1,175,470
REVENUES:
Interest 5,000 9,130 14,130
Bond Proceeds 1,150,000
Service Improvement Fees 16,800 16,800
Other 850,000 850,000
Total Revenues 5,000 1,150,000 875,930 880,930
EXPENDITURES:
Debt Issuance Costs 64,400
Capital Projects 609,600 1,430,000 2,039,600
Transfers Out 1,085,600
Total Expenditures 609,600 1,150,000 1,430,000 2,039,600
Ending Fund Balance 0 0 16,800 16,800
SIP Reservation 16,800 16,800
Available Fund Balance 0 0 0 0
44
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:
• Grants • Donations
• Hotel Occupancy Tax (HOT)• Police seizures
• Parkland dedication fees • Street Maintenance Sales Tax
Significant Issues/Comments:
4 These funds vary significantly with the level of donation and grant activity for each year.
4 Hotel Occupancy Tax continues to decrease as more new properties have opened in nearby Round
Rock. Georgetown has not had a new hotel property since 2000, when the Holiday Inn Express opened.
Therefore, revenues will continue to be stagnant until additional properties are built. The City adjusted
expenditures to accommodate the downturn, while planning more community events to increase future
revenues.
4 2003/04 marks the first full year of revenue for the $0.25% Street Maintenance Sales Tax, which was
approved by voters in November 2002. Funds may only be spent on existing streets. Projects for 2004
include:
• 13th Street • MLK
• Riverside Drive • 4th to 6th Street
• Gabriel View • Smith Creek Road
Special Revenue Funds - Summary 2003/04
BEGINNING ENDING
FUND FUND
FUND DIVISION/SECTION BALANCE REVENUES EXPENDITURES BALANCE
Animal Services Fund Police Services 4,192 25,400 29,592 0
Cemetery Fund Parks & Recreation 42,717 31,200 55,200 18,717
Court Fee Fund Finance & Administration 39,037 35,800 74,837 0
Fire Billing for Service Fire Services 67,568 130,500 185,000 13,068
Library Donations Management Services 27,315 21,100 48,415 0
Main Street Facade Fund Management Services 12,507 300 12,807 0
Mapping Fund Planning & Development 9,182 30,100 39,282 0
Parks Restricted Parks & Recreation 239,565 100,950 340,515 0
River Corridors Grant Fund Parks & Recreation 0 700,000 700,000 0
Police Restricted Police Services 24,508 109,455 133,963 0
Street Tax Georgetown Utility Systems 0 1,148,874 1,080,000 68,874
Tourism Fund Management Services 152,842 331,011 349,763 134,090
Total Special Revenue Funds 619,433 2,664,690 3,049,374 234,749
45
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, Systems Engineering and Utility Office provide support to the City’s utility funds.
Administrative departments, including Accounting, Finance Administration, Human Resources and Safety,
and Purchasing and Properties provide support to all City funds and departments.
Internal Service Funds - Summary 2003/04
FACILITIES FLEET INFORMATION JOINT INTERNAL
MAINTENANCE MANAGEMENT SERVICES SERVICES SERVICES FUND
FUND FUND FUND FUND TOTAL
Beginning Working Capital 12,505 55,135 29,937 168,327 265,904
REVENUES:
Charges for Services 618,251 1,137,507 1,330,405 5,075,794 8,161,957
Interest & Other 7,000 23,000 17,500 83,000 130,500
Sale of Property 8,000 8,000
Interfund Transfers 1,192,300 3,558 225,000 1,420,858
Total Revenues 625,251 2,360,807 1,351,463 5,383,794 9,721,315
EXPENSES:
Georgetown Utility Systems 1,188,590 1,188,590
Finance & Administration 637,667 2,339,720 2,258,250 5,235,637
Management Services 1,354,793 1,918,646 3,273,439
Interfund Transfers 48,874 66,679 115,553
Total Expenses 637,667 2,388,594 1,354,793 5,432,165 9,813,219
Ending Working Capital 89 27,348 26,607 119,956 174,000