HomeMy WebLinkAbout04-Financial Summary
Financial
Summary
Financial Summary Table of Contents
Summary
City Operations by Fund...........................................................................................................23
Budgeted Revenues.................................................................................................................24
Budget Expenses.....................................................................................................................25
Program Budget.......................................................................................................................26
Revenues
Property Taxes.........................................................................................................................28
Sales Tax .................................................................................................................................30
Utility Revenues .......................................................................................................................32
Capital Recovery Fees.............................................................................................................34
Other Enterprise Fund Revenues.............................................................................................35
Other Miscellaneous Revenues ...............................................................................................36
Fund Summaries
All Funds Summary..................................................................................................................38
General Fund ...........................................................................................................................40
Electric Fund ............................................................................................................................42
Water Services Fund................................................................................................................44
Airport Fund..............................................................................................................................46
Sanitation Fund........................................................................................................................47
Stormwater Drainage Fund......................................................................................................48
General Capital Projects Funds ...............................................................................................49
Special Revenue Funds...........................................................................................................50
Internal Service Funds .............................................................................................................51
23
City Operations by Fund
GENERAL
FUND
SPECIAL
REVENUE
FUND
INTERNAL
SERVICE
FUND
OTHER
ENTERPRISE
FUND
WATER
SERVICES
FUND
ELECTRIC
FUND
Tourism
Electric Operations
AMR
Wastewater Collection
Reuse Irrigation
Water Distribution
Sanitation Contract
Stormwater Drainage
Airport Operations
CVB
Main Street
Fleet Management
Information Technology
Facilities Maintenance
Joint Services
Facilities Maintenance
Economic Development
Accounting
F & A Administration
GUS Administration
Purchasing
Systems Engineering
Legal Contracts
Utility Office
Municipal Court
City Council
Inspection Services
City Manager's Office
Recreation
Public Library
Parks
Planning & Development
Police
Streets
Fire
This chart represents the City’s
operational departments by fund. It is
intended to help the budget user
understand the City’s organizational
structure and its related funding sources.
03/04
Actual
04/05
Amended
Budget
04/05
Projected
Actual
05/06
Adopted
Budget
06/07
Estimated
Budget
Property Taxes 7,235,042 8,274,000 8,278,600 9,176,803 10,393,364
Sales Taxes 5,277,214 5,433,000 5,937,500 7,673,900 8,382,300
Bond Proceeds 9,787,866 13,450,000 13,490,000 14,570,600 12,947,000
Charges for Services 8,760,570 9,386,202 9,420,378 10,089,938 10,040,887
Capital Recovery Fees 108,649 380,000 432,020 477,000 749,000
Service Improvement Fees 2,292,327 2,274,795 2,278,186 2,232,200 2,232,200
Utility Revenue 47,766,639 53,335,960 52,874,870 56,051,620 58,519,385
Grants 208,848 2,199,107 933,954 1,319,857 30,000
Interest 582,865 399,098 605,424 523,078 486,078
Other Revenue 11,379,409 13,373,121 13,545,686 12,809,515 14,055,322
Interfund Transfers 6,888,445 6,988,294 6,930,894 6,582,764 6,649,932
TOTAL REVENUE 100,287,874 115,493,577 114,727,512 121,507,275 124,485,468
*Fund balance (increase or use)(2,881,828) 7,110,664 (3,751,705)10,327,470 (2,821,989)
TOTAL BUDGET 97,406,046 122,604,241 110,975,807 131,834,745 121,663,479
Budgeted Revenues
2005-2006
Property Taxes
8%
Sales Taxes
6%
Bond Proceeds
12%
Utility Revenue
47%
Grants
1%
Other Revenue
11%Interfund Transfers
5%
Service Improvement
Fees
2%
Charges for Services
8%
Capital Recovery
Fees
0.39%
Interest
0.43%
24
03/04
Actual
04/05
Amended
Budget
04/05
Projected
Actual
05/06
Adopted
Budget
06/07
Estimated
Budget
Georgetown Utility Systems 17,904,524 20,070,079 19,889,160 21,735,046 22,719,349
Purchased Power (GUS) 19,013,379 22,612,500 21,104,000 22,588,000 23,609,000
Community Development 1,913,505 2,060,988 2,055,638 2,415,839 2,182,851
Finance & Administration 8,098,732 8,971,228 8,923,549 8,967,913 9,298,822
Fire Services 3,413,911 3,907,640 3,864,940 4,383,894 4,721,564
Management Services 6,998,945 7,601,208 7,919,186 8,853,653 8,262,174
Community Services 4,444,802 5,102,415 5,126,567 5,037,237 4,840,147
Police Services 5,342,384 5,868,895 5,690,591 6,811,255 7,231,511
Capital Improvements 16,133,463 29,883,391 19,940,738 33,854,538 20,296,025
Debt Payments 7,253,956 9,537,603 9,530,544 10,604,606 11,852,104
Interfund Charges & Transfers 6,888,445 6,988,294 6,930,894 6,582,764 6,649,932
TOTAL BUDGET 97,406,046 122,604,241 110,975,807 131,834,745 121,663,479
Budgeted Expenses
2005-2006
Purchased Power
(GUS)
17%
Capital Improvements
26%
Debt Payments
8%
Interfund Charges &
Transfers
5%
Georgetown Utility
Systems
16%
Fire Services
3%
Finance &
Administration
7%
Community
Development
2%
Management Services
7%
Community Services
4%
Police Services
5%
25
Amended Adopted
2004/05 Budget %2005/06 Budget %
Police Services 5,721,127 5.4%6,539,147 5.7%
Streets 1,827,599 1.7%1,939,670 1.7%
Electric 25,769,530 24.2%26,266,520 22.8%
Economic Development 355,150 0.3%356,784 0.3%
Water Services 8,058,995 7.6%8,797,587 7.6%
Sanitation 2,754,470 2.6%2,873,909 2.5%
Stormwater Drainage 374,628 0.4%407,284 0.4%
Debt Payments 9,537,603 9.0%10,604,606 9.2%
Airport 1,255,628 1.2%1,780,337 1.5%
Fire Services 3,574,343 3.4%4,002,883 3.5%
Management Svc-Others 1,032,529 1.0%1,107,110 1.0%
Capital Improvements 29,883,391 28.1%33,854,538 29.4%
Community Services 4,190,473 3.9%4,034,340 3.5%
Community Development 1,838,866 1.7%2,169,287 1.9%
Administration 10,172,345 9.6%10,557,835 9.2%
%%
Program Budget
0 5,000,000 10,000,000 15,000,000 20,000,000 25,000,000 30,000,000 35,000,000 40,000,000
Police Services
Streets
Electric
Economic Development
Water Services
Sanitation
Stormwater Drainage
Debt Payments
Airport
Fire Services
Management Svc-Others
Capital Improvements
Community Services
Community Development
Administration
Amended 2004/05 Budget Adopted 2005/06 Budget
26
28
Property Tax Revenues
Taxable Property Values
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
00/01 01/02 02/03 03/04 04/05* 05/06* 06/07* 07/08* 08/09* 09/10*
0
500,000,000
1,000,000,000
1,500,000,000
2,000,000,000
2,500,000,000
3,000,000,000
3,500,000,000
00/01 01/02 02/03 03/04 04/05 05/06* 06/07* 07/08* 08/09* 09/10*
General Fund Revenue
Debt Service
New & Annexed Property
Existing Property Values
*Projected
*Projected
29
Taxes:
Taxes are levied on January 1 of each year and are considered past due on February 1 of the
following year. The Williamson County Appraisal District determines the value for each property in the
city. 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. The City’s tax collection rate for 2004/05 is 98.91%.
Taxable Valuations:
4 New construction permits have ranged from 650 to 1,100 per year since 1996, with 1,062 permits
in 2004/05. This growth trend is expected to continue into 2006, based on information from
builders, planned subdivisions within the city and anticipated commercial development.
4 Values on existing property increased, with a five year average increase of 3.3%. The average
home value is $166,458, which is an increase of1.7% over the prior year. Overall, total assessed
valuation was 9% greater than prior year. The majority of the increase is commercial property,
reflected in the overall increase of commercial property as a percentage of total assessed
valuation. (From 20% to 22%)
4 2005/06 new values include $136 million in new construction and annexed property.
Adopted Property Tax Rate for 2005/06 is $0.34626/$100 valuation:
4 Represents a 10.5% increase over the adjusted effective rate of $0.31326/$100 valuation, which
includes a $0.0277 adjustment for sales tax dedicated to property tax relief.
4 Same as 2004/05 tax rate.
4 The City adopted an 1/8 cent sales tax rate for property tax relief in May 2005, with the primary
intent to offset debt service related to the November 2004 voter approved general obligation
bonds.
4 Breakdown: 05/06 04/05
M & O - Maintenance and Operations (General Fund) $0.20713 $0.23294
I & S - Debt Service (payment on existing debt) $0.13913 $0.11332
*Future Projections:
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 and annexed property growth of $100 million for 2006-09, as new retail properties
are added to the tax role, with a 3% annual increase in existing valuations.
4 No increases in M & O; projected at effective rate.
4 Increase in I & S relates to issuance of voter approved general obligation bonds approved in
November 2004 for a new Library, Community Center and Recreation Center expansion.
4 Reflects impact of 1/8% sales tax for property tax relief.
Fiscal Year 00/01 01/02 02/03 03/04 04/05 05/06 06/07* 07/08* 08/09* 09/10*
Property Tax Revenues:
(in thousands)
General Fund 3,260 3,814 4,456 5,011 5,555 5,532 5,161 5,125 5,015 5,019
Debt Service 1,906 2,204 2,173 2,223 2,724 3,488 4,205 4,336 4,478 4,335
Property Values:
(in millions)
Existing Property 1,519 1,804 2,024 2,130 2,272 2,507 2,706 2,787 2,871 2,957
New & Annexed 110 135 167 92 120 136 100 100 100 100
Property
Tax Rates
Per $100 - taxable 0.314 0.307 0.303 0.322 0.346 0.346 0.371 0.346 0.336 0.317
valuation
*projected
30
The City receives 2% of the 8.25% sales and use taxes that are remitted by retailers within the City limits:
1.000% is used for general operating purposes
0.500% is used for transportation improvements through the Georgetown Transportation Enhancement
Corporation (GTEC), the City’s 4B Economic Development Corporation, authorized in May 2001
0.125% is for Georgetown Economic Development Corporation (GEDCO), the City’s 4A Economic Development
Corporation, approved in May 2005
0.125% is for property tax relief, approved in May 2005
0.250% is used for street maintenance, approved in November 2002 and sunsets in 2006 unless reauthorized by
voters
2.000% City portion
6.250% is collected and retained by the State of Texas
8.250% Total sales tax rate
The City’s sales tax base is diverse, with revenues being generated by national retailers, building materials and utilities,
etc. The heavy residential growth over the past few years has also created a demand for more restaurants and other
retailers that have also expanded the City’s tax base. Sales tax has increased over the past few years due to an increase
in new retail developments within the City, such as Walgreens, a second HEB grocery, and a new Rivery Towne
Shopping Center, which includes Home Depot and Walmart Supercenter. In July 2005, Wolf Ranch, a 750,000 sq ft
Simon development, which includes Target, Old Navy, PETsMART, Michaels, and Best Buy, among others, opened in
Georgetown providing additional shopping opportunities.
Future projections are based on the following assumptions:
4 2005/06 includes a 25% increase in the overall sales tax base projections from prior year, including an
additional $1,276,600 for the Wolf Ranch development.
4 The City’s development agreement with Simon includes a sales tax rebate of 53% of General operating sales
tax revenue as an economic development incentive. $600,000 is projected in 2005/06, net this incentive
payment.
4 Base revenues are projected conservatively, increasing 1.5% annually, with Wolf Ranch revenues increasing
approximately 30% as more stores open within the development.
Sales Tax Revenue - 1% General Operating
$3.53M
$3.45M
$3.72M
$4.22M
$4.75M
$6.08M*
$6.74M*
$6.84M*
$6.94M*
$7.05M*
$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
00/01
01/02
02/03
03/04
04/05*
05/06*
06/07*
07/08*
08/09*
09/10*
*Projected
32
Electric Revenue
*Projected
Water Services Revenue - Water
*Projected
$41.2
$39.6$38.0
$36.5
$34.8
$33.6
$29.6
$26.3
$23.7$24.8
$.0
$5.0
$10.0
$15.0
$20.0
$25.0
$30.0
$35.0
$40.0
$45.0
00/01 01/02 02/03 03/04 04/05* 05/06* 06/07* 07/08* 08/09* 09/10*
Mi
l
l
i
o
n
s
$12.6$12.1
$11.5
$11.0$10.7
$9.5
$9.2$9.4
$9.0
$8.0
$.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
00/01 01/02 02/03 03/04 04/05* 05/06* 06/07* 07/08* 08/09* 09/10*
Mi
l
l
i
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n
s
33
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, as the City’s southern electric
service area is developed. (historical average is 6-7%)
4 Assumes a 5% customer growth for Water for the next five years. (historical average is 6-7%)
4 Rising purchased power costs also attribute to increased electric revenue, as these costs are passed
on to the customer through a fuel adjustment in the rate.
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%)
Water Services Revenue - Wastewater
*Projected
$8.1
$7.7
$7.4
$7.0
$6.7
$6.3
$5.7
$5.2
$4.6$4.8
$.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$9.0
00/01 01/02 02/03 03/04 04/05* 05/06* 06/07* 07/08* 08/09* 09/10*
Mi
l
l
i
o
n
s
34
Service Improvement Fees:
These fees are collected from Del Webb and Escalera Ranch on a per unit basis to offset costs of infrastructure
improvements to the serve the developments. The fees, similar to impact fees, are collected for water and
wastewater improvements as part of these development agreements. The Escalera Ranch fee is $5,064 per unit, for
water improvements and was adjusted during 2005 for an amended number of units. The Del Webb fees were
adjusted as part of the seventh amendment to the development agreement executed in 2003. The current Del Webb
fees are $8,123.50 per unit for 300 units from 2002/03 through 2008/09.
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 for
increased system capacity. The fees were updated in 2003 and again in 2005, through a study prepared by an
Impact Fee Advisory Committee, to reflect changes in the City’s five and ten year Capital Improvements Plans, the
Future Land Use Plan, and updated construction costs. The fee is $5,204 per unit for water and wastewater.
Capital Recovery Fee Revenue
Fiscal Year 00/01 01/02 02/03 03/04 04/05* 05/06* 06/07* 07/08* 08/09* 09/10*
Service Improvement Fees:
Water 931 756 1,590 1,593 1,597 1,544 1,544 1,544 1,544 156
Wastewater 363 373 671 671 671 671 671 671 671 0
Total (thousands)1,294 1,129 2,261 2,265 2,268 2,215 2,215 2,215 2,215 156
Impact Fees:
Water 795 337 433 400 432 477 749 952 952 952
Wastewater 594 244 321 275 422 460 841 841 841 841
Total (thousands)1,389 580 754 675 854 937 1,590 1,793 1,793 1,793
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
$4,000,000
$4,500,000
00/01 01/02 02/03 03/04 04/05* 05/06* 06/07* 07/08* 08/09* 09/10*
Service Improvement Fees
Impact Fees
*Projected
35
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 $4.25 per unit also provides $300,000 annually for capital maintenance
to correct drainage problems in the City.
Other Enterprise Fund Revenues
Fiscal Year 97/98 98/99 99/00 00/01 01/02 02/03 03/04 04/05* 05/06* 06/07*
(in thousands)
Stormwater Drainage 461 616 668 698 885 1,196 1,299 1,535 1,588 1,642
Airport 596 724 1,324 1,449 1,431 1,451 1,647 2,099 2,099 2,134
Sanitation 1,680 1,910 2,089 2,362 2,500 2,744 2,888 3,130 3,295 3,437
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
$3,500,000
97/98 98/99 99/00 00/01 01/02 02/03 03/04 04/05* 05/06* 06/07*
Sanitation
Airport
Stormwater Drainage
*Projected
36
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, as well as, continued existing market conditions.
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 for 2005/06 is
$1,319,857, which consists of a construction and design grant for a new airport control tower for $1,289,857
and a Police traffic enforcement grant for $30,000.
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, as well as, revenue for services from the Williamson County Emergency Service District
(ESD) #8 in 2006/07. 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 to the City’s General Fund by both 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 98/99 99/00 00/01 01/02 02/03 03/04 04/05* 05/06* 06/07*
(in thousands)
Interest Income 1,653 1,962 1,903 1,192 681 583 605 523 486
Grant Revenue 308 945 307 472 160 209 934 1,320 30
Miscellaneous Revenue 2,783 3,208 4,133 4,173 5,071 6,020 6,292 5,949 6,824
Franchise Fees 1,052 1,388 1,379 1,489 1,580 1,845 1,907 2,003 2,069
$0
$1,000,000
$2,000,000
$3,000,000
$4,000,000
$5,000,000
$6,000,000
$7,000,000
98/99 99/00 00/01 01/02 02/03 03/04 04/05* 05/06* 06/07*
Miscellaneous Revenue
Franchise Fees
Grant Revenue
*Projected
Interest Income
38
All Funds Summary
(1) Includes Airport, Sanitation, and Stormwater Drainage
(2) Includes debt service payments on bonds issued on behalf of the Georgetown Transportation Enhancement Corporation
(GTEC) and are offset by transfer from GTEC of dedicated sales tax revenue.
(3) Available fund balance/working capital is unrestricted excess resources and not used in funding the current budget and is
available for appropriation of one-time projects in the following year.
General General
Special Capital Debt
Total General Revenue Projects Service
Budget Fund Funds Funds Fund
Beginning Fund Balances / 25,283,059 5,360,276 297,589 3,774,114 368,273
Working Capital
SOURCES & REVENUES:
Property taxes 9,176,803 5,622,365 65,999 3,488,439
Sales taxes 7,673,900 6,125,000 1,548,900
Bond Proceeds 14,570,600 11,090,600
Charges for Services 10,089,938 984,418
Capital Recovery Fees 477,000
Special Improvement Fees 2,232,200 16,800
Utility Revenues 56,051,620
Grants 1,319,857 30,000
Interest 523,078 172,000 14,378 22,000 15,000
Other Revenue 12,809,515 5,200,380 683,034 110,760 1,332,200 (2)
Interfund Transfers - ROI, Etc.6,582,764 5,104,870 94,908 84,646
Total Revenues 121,507,275 23,209,033 2,437,219 11,240,160 4,920,285
USES & EXPENSES:
Georgetown Utility Systems 21,735,046 2,088,059
Purchased Power 22,588,000
Community Development 2,415,839 2,369,811 46,028
Finance & Administration 8,967,913 352,279 31,915 11,600
Fire Services 4,383,894 4,279,094 104,800
Management Services 8,853,653 3,538,086
Community Services 5,037,237 4,380,446 656,791
Police Services 6,811,255 6,691,437 119,818
Capital Improvements 33,854,538 1,545,500 13,970,263
Debt Payments 10,604,606 4,839,117 (2)
Interfund Transfers 6,582,764 169,708 125,270 591,400
Total Uses & Expenses 131,834,745 23,868,920 2,630,122 14,573,263 4,839,117
Ending Fund Balance / 14,955,589 4,700,389 104,686 441,011 449,441
Working Capital
RESERVATIONS:
Contingency 10,400,000 4,700,000 75,000
Capital Projects/Other 4,201,780 29,686 441,011 449,441
Available Fund Balance/ 353,809 389 0 0 0
Working Capital (3)
39
All Funds Summary
Other Internal
Electric Water Enterprise Service
Fund Fund Funds(1) Funds
Beginning Fund Balances / 6,081,514 7,695,009 1,273,386 432,898
Working Capital
SOURCES & REVENUES:
Property taxes
Sales taxes
Bond Proceeds 3,480,000
Charges for Services 9,105,520
Capital Recovery Fees 477,000
Special Improvement Fees 2,215,400
Utility Revenues 34,300,000 16,868,430 4,883,190
Grants 1,289,857
Interest 45,500 129,900 10,300 114,000
Other Revenue 1,535,582 1,671,950 2,255,609 20,000
Interfund Transfers - ROI, Etc.1,298,340
Total Revenues 39,361,082 21,362,680 8,438,956 10,537,860
USES & EXPENSES:
Georgetown Utility Systems 5,984,963 11,193,733 895,075 1,573,216
Purchased Power 22,588,000
Community Development
Finance & Administration 3,115,051 5,457,068
Fire Services
Management Services 1,854,138 3,461,429
Community Services
Police Services
Capital Improvements 9,366,600 6,732,000 2,240,175
Debt Payments 1,707,789 3,609,900 447,800
Interfund Transfers 3,365,574 1,823,166 396,900 110,746
Total Uses & Expenses 43,012,926 23,358,799 8,949,139 10,602,459
Ending Fund Balance / 2,429,670 5,698,890 763,203 368,299
Working Capital
RESERVATIONS:
Contingency 2,225,000 3,100,000 300,000
Capital Projects/Other 2,507,004 406,339 368,299
Available Fund Balance/ 204,670 91,886 56,864 0
Working Capital (3)
40
General Fund
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.
04/05 05/06 06/07
03/04 04/05 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Fund Balance 3,324,965 4,370,172 4,744,968 5,360,276 4,700,389
REVENUES:
Property Taxes 5,010,862 5,564,000 5,554,600 5,622,365 6,122,365
Sales Taxes 4,217,991 4,300,000 4,750,000 6,125,000 6,610,000
Interest 50,570 35,000 114,300 172,000 135,000
Administrative Charges 833,962 890,843 917,517 984,418 984,418
All Other Revenue 4,966,167 4,853,225 4,948,055 5,200,380 5,791,903
Return on Investment 4,142,736 4,675,500 4,688,100 5,104,870 5,135,370
Transfers In 1,225,000 (1)
Total Revenues 20,447,288 20,318,568 20,972,572 23,209,033 24,779,056
EXPENSES:
Georgetown Utility Systems 1,923,969 1,975,792 1,970,134 2,088,059 2,087,177
Community Development 1,887,432 2,022,600 2,017,250 2,369,811 2,151,113
Finance & Administration 239,365 289,274 289,255 352,279 351,397
Fire Services 3,260,402 3,656,148 3,618,294 4,279,094 4,625,664
Management Services 1,321,260 1,401,074 1,281,755 1,855,777 1,607,557
Community Services 3,704,769 3,858,311 3,838,785 4,380,446 4,287,662
Police Services 5,235,101 5,729,006 5,534,798 6,691,437 7,157,276
Administrative Expense 1,323,326 1,449,208 1,449,208 1,682,309 1,696,215
Transfers Out 131,661 357,785 357,785 169,708 105,416
Total Expenses 19,027,285 20,739,198 20,357,264 23,868,920 24,069,477
Ending Fund Balance 4,744,968 3,949,542 5,360,276 4,700,389 5,409,968
RESERVATIONS:
Contingency 3,675,000 3,930,000 3,930,000 4,700,000 4,900,000
Available Fund Balance 1,069,968 19,542 1,430,276 389 509,968
(1) Contingency reserve reallocation
41
Significant Issues/Comments:
4 Funds for street capital maintenance total $825,000. The total General Fund portion of street maintenance is
$2.09 million, which includes staff costs, utility costs for street lighting and other maintenance costs.
4 The second year of a three year initiative to improve emergency response levels through increased staffing is
included in the 2005/06 budget. Funding includes $112,369 for additional personnel and equipment in Police
and $95,987 in Fire with staggered hiring dates of April and September.
4 Public Safety compensation was increased in 2005/06 to be more competitive with surrounding communities.
$569,000 is included for pay adjustments for existing Public Safety staff.
4 Funding includes $677,650 of “one time” projects, including gateway signage for downtown, equipment
purchases in Parks and Police, an update of the Comprehensive Plan and an upgrade to the Transfer Station.
4 Contingency Reserves were increased to comply with the City’s budgetary and financial policy for 90 days of
operating expense in reserve for this fund.
Fiscal Year 2005/06
Revenues
Admin
Charges
4%
Interest &
Other
23%
Fund Balance
3%
Tfr In -
Return on
Inv.
21%
Property
Taxes
24%
Sales Taxes
25%
Expenditures
GUS
9%
F&A
1%
Fire Svcs
18%
Mgt Svcs
8%Comm Svcs
18%
Transfers
Out
1%Comm Dev
10%
Police Svcs
28%
Admin Exp
7%
42
Electric Fund
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.
04/05 05/06 06/07
03/04 04/05 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 3,564,392 4,523,032 4,966,844 6,081,514 2,429,670
REVENUES:
Electric Services 29,199,618 32,500,000 33,000,000 34,300,000 2,845,000
Bond Proceeds 1,474,432 525,000 525,000 3,480,000 36,000,000
Interest 76,614 45,479 60,479 45,500 45,500
All Other Revenue 1,461,242 1,382,057 1,608,699 1,535,582 1,490,875
Total Revenues 32,211,906 34,452,536 35,194,178 39,361,082 40,381,375
EXPENSES:
Georgetown Utility Systems 4,502,319 5,360,083 5,313,211 5,984,963 6,624,948
Purchased Power 19,013,379 22,612,500 21,104,000 22,588,000 23,609,000
Capital Projects 2,539,219 4,472,797 3,537,797 9,366,600 5,278,025
Debt Payments 1,179,952 1,334,325 1,254,200 1,707,789 1,901,493
Transfers Out 3,574,585 (1)2,870,300 2,870,300 3,365,574 2,989,900
Total Expenses 30,809,454 36,650,005 34,079,508 43,012,926 40,403,366
Ending Working Capital 4,966,844 2,325,563 6,081,514 2,429,670 2,407,679
RESERVATIONS:
Contingency 2,250,000 2,245,000 2,245,000 2,225,000 2,225,000
Available Working Capital 2,716,844 80,563 3,836,514 204,670 182,679
(1) Contingency reserve reallocation to General Fund
43
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. Power costs have increased significantly over prior years due to
the increased cost of natural gas.
4 The Electric and Water funds share the maintenance of the City’s automated meter reading system.
4 Capital projects are funded through operating revenues and debt when necessary. In 2006, $5.9 million
of operating revenues and $3.5 million 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.
4 The City will construct its first fully owned electric substation in early 2006. A three-man crew and an
electric engineer will be added to provide maintenance and support to the substation.
Fiscal Year 2005/06
Revenues
Electric
Services
80%
Fund
Balance
8%
Bond
Proceeds
8%Interest &
Other
4%
Expenses
Operating
14%
Purchased
Power
52%
Transfers
8%
Capital
Projects
22%
Debt
Payments
4%
44
Water Services Fund
Fund Description:
The Water Services Fund is used to account for the revenues from all operating and maintenance activities for
water, wastewater and irrigation utilities. 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.
04/05 05/06 06/07
03/04 04/05 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 8,099,544 7,432,710 8,366,718 7,695,009 5,698,890
REVENUES:
Water Services 8,809,185 9,836,000 9,050,000 10,236,000 10,491,000
Wastewater Services 5,425,274 5,995,360 5,910,360 6,347,530 6,664,535
Irrigation Services 130,498 284,900 250,000 284,900 284,900
Bond Proceeds 5,465,567 3,500,000 3,500,000 0 650,000
Impact Fees 108,649 380,000 432,020 477,000 749,000
Service Improvement Fees 2,264,777 2,257,995 2,261,386 2,215,400 2,215,400
Interest 221,318 126,900 200,134 129,900 129,900
All Other Revenue 2,051,821 2,862,600 2,047,006 1,671,950 2,062,650
Total Revenues 24,477,089 25,243,755 23,650,906 21,362,680 23,247,385
EXPENSES:
Georgetown Utility Systems 9,467,326 10,447,282 10,420,300 11,193,733 11,550,528
Capital Projects 9,867,342 12,438,875 8,662,500 6,732,000 4,829,250
Debt Payments 3,186,251 3,441,825 3,489,675 3,609,900 3,460,175
Transfers Out 1,688,996 1,843,640 1,750,140 1,823,166 1,675,400
Total Expenses 24,209,915 28,171,622 24,322,615 23,358,799 21,515,353
Ending Working Capital 8,366,718 4,504,843 7,695,009 5,698,890 7,430,922
RESERVATIONS:
Contingency 2,700,000 2,750,000 2,750,000 3,100,000 3,100,000
Service Improvement Fees 389,312 922,144 922,144 1,850,704 3,212,382
Future Capital Improvements (1) 773,400 723,400 656,300 999,400
Available Working Capital 5,277,406 59,299 3,299,465 91,886 119,140
(1) Includes Water Conservation revenue dedicated to future water plant expansions.
45
Significant Issues/Comments:
4 Water supply is provided through agreements with the Brazos River Authority. BRA expenses will
increase 11% over the prior year for an 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. Future raw water increases are projected to be 15% per year.
4 Service Improvement Fees are reserved to fund future payments on debt issued for infrastructure related
to development, as well as, capital improvements.
4 Capital projects are funded through operating revenues, service improvement fees, impact fees and debt
when necessary.
4 The City will begin year 4 of an 8 year program to test all wastewater lines for inflow and infiltrations as
required by the Texas Commission on Environmental Quality (TCEQ) for environmental safety of
Edwards Aquifer. 98% of the city is located over the Aquifer, therefore testing and repair costs are a
major component of the wastewater capital improvement program. The City budgets repairs for all
problems found in the next budget cycle. 2005/06 is year 3 of repairs.
Fiscal Year 2005/06
Revenues
Water
Services
43%
SIP & CR
Fees
12%
Fund
Balance
9%
Interest &
Other
8%
Irrigation
Services
1%
Wastewater
Services
27%
Expenses
Capital
Projects
29%
Debt
Payments
15%
Transfers
8%
Operating
48%
46
Airport Fund
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 Airport was awarded a Grant in 2003/04 from the Aviation Division of the Texas Department of
Transportation to assist in revising the Airport Master Plan Layout. The plan was approved in 2004/05.
4 The Airport was awarded a Federal Tower Grant for airport improvements from the Aviation Division of
the Texas Department of Transportation. This grant will be used for the engineering and construction of
a new airport control tower and will be administered by the City and reimbursed through TxDot. The
grant funds 90% of the cost of the tower. The City will also be eligible for the Federal Aviation
Administration’s tower maintenance program, which will fund the costs to staff the tower. The City will
pay utility and building maintenance costs.
04/05 05/06 06/07
03/04 04/05 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 292,256 439,930 431,711 587,061 556,339
REVENUES:
Fuel & Terminal Sales 1,223,120 1,196,892 1,658,549 1,658,549 1,693,549
Leases & Rents 424,244 440,880 440,880 440,880 440,880
Interest 5,243 8,000 8,000 8,000 8,000
Grant 181 1,500,000 210,143 1,289,857
All Other Revenue 67,872 48,180 70,780 48,180 48,180
Total Revenues 1,720,660 3,193,952 2,388,352 3,445,466 2,190,609
EXPENSES:
Management Services 1,357,346 1,337,028 1,785,443 1,839,138 1,881,968
Capital Projects 1,708,334 250,159 1,448,175
Debt Payments 223,859 191,000 197,400 188,875 188,025
Total Expenses 1,581,205 3,236,362 2,233,002 3,476,188 2,069,993
Ending Working Capital 431,711 397,520 587,061 556,339 676,955
RESERVATIONS:
Contingency 150,000 150,000 150,000 150,000 150,000
Future Capital Improvements 256,231 247,520 437,061 406,339 526,955
Available Working Capital 25,480 0 0 0 0
47
Sanitation Fund
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 Current rates for Sanitation services will meet the cost of providing services for the current year.
4 Increased funding for a downtown recycling center is included in the 2005/06 budget. The City is
currently pursuing options to upgrade the current collection station to a transfer station to expand
recycling opportunities on-site and hedge future rate increases.
04/05 05/06 06/07
03/04 04/05 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 27,819 14,835 29,441 26,212 14,261
REVENUES:
Sanitation Services 2,887,822 3,185,200 3,130,000 3,295,300 3,437,000
All Other Revenue 44,658 69,100 74,000 75,000 76,500
Total Revenues 2,932,480 3,254,300 3,204,000 3,370,300 3,513,500
EXPENSES:
Finance & Administration 2,664,427 2,952,128 2,918,229 3,078,051 3,187,314
Hazardous Waste Clean-up 31,833 32,000 35,000 37,000 37,000
Transfers Out 234,598 258,300 254,000 267,200 278,500
Total Expenses 2,930,858 3,242,428 3,207,229 3,382,251 3,502,814
Available Working Capital 29,441 26,707 26,212 14,261 24,947
Available Fund Balance 29,441 26,707 26,212 14,261 24,947
48
Stormwater Drainage Fund
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 Stormwater rates are $4.25 per unit cost which provides operational and capital costs for drainage
maintenance and improvements.
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.
4 Operating costs continue to increase due to the increase in the number of detention ponds within the city.
04/05 05/06 06/07
03/04 04/05 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 302,077 154,590 213,486 675,440 207,930
REVENUES:
Stormwater Fees 1,314,242 1,534,500 1,534,510 1,587,890 1,641,950
Bond Proceeds 425,000 435,000
Interest 14,937 2,300 2,300 2,300 2,300
All Other Revenue 17,719 33,000 33,000 33,000 33,000
Total Revenues 1,346,898 1,994,800 2,004,810 1,623,190 1,677,250
EXPENSES:
Georgetown Utility Systems 761,587 843,177 831,006 895,075 895,158
Capital Projects 312,973 719,100 320,000 807,000 290,000
Debt Payments 254,372 296,625 266,450 258,925 260,325
Transfers Out 106,557 125,400 125,400 129,700 134,000
Total Expenses 1,435,489 1,984,302 1,542,856 2,090,700 1,579,483
Ending Working Capital 213,486 165,088 675,440 207,930 305,697
RESERVATIONS:
Contingency 120,000 150,000 150,000 150,000 150,000
Available Working Capital 93,486 15,088 525,440 57,930 155,697
49
General Capital Projects Funds - Summary 2005/06
Fund Description:
Capital projects funds are used to account for the acquisition and construction of major capital facilities and
equipment other than those financed by Special Revenue (grants) and Enterprise Funds (i.e. utilities and
airport).
Facilities and Parks Capital Projects Funds:
4 Includes funds for the implementation of the City’s facilities construction plan. The 2005/06 plan
includes construction of a new library at $7.1 million, construction for a fire station on Industrial
Boulevard (relocated from downtown), expansion of the community center for $1.6 million and
$720,000 in park and trail improvements.
Streets Capital Projects Fund:
4 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. 2005/06 does not include any current year projects.
4 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”
economic development 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:
4 Includes funds for the public safety vehicle replacement program and adding patrol laptops to the
vehicles. These costs are funded with planned short- term debt obligations.
FACILITIES & STREETS GENERAL
PARKS PUBLIC SAFETY CAPITAL CAPITAL PROJECTS
PROJECTS PROJECTS PROJECTS TOTAL
Beginning Fund Balance 3,554,583 15,763 203,768 3,774,114
REVENUES:
Interest 20,000 2,000 22,000
Bond Proceeds 10,487,600 603,000 11,090,600
Service Improvement Fees 16,800 16,800
Other 110,760 110,760
Total Revenues 10,618,360 603,000 18,800 11,240,160
EXPENDITURES:
Debt Issuance Costs 315,000 315,000
Finance & Administration 11,600 11,600
Capital Projects 13,766,023 13,766,023
Transfers Out 591,400 591,400
Total Expenditures 14,081,023 603,000 0 14,684,023
Ending Fund Balance 91,920 15,763 222,568 330,251
Service Improvement Reservation 67,200 67,200
Available Fund Balance 91,920 15,763 155,368 263,051
50
Special Revenue Funds – Summary 2005/06
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:
• G r a n t s • 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 The ¼ cent Street Maintenance Sales Tax was approved by voters in November 2002. Funds may only
be spent on existing city streets. The tax sunsets in March 2007 unless reauthorized by voters in
November 2006. Projects for 2006 include:
• Church Street • Walnut Street
• Myrtle Street • Main Street
• Parkway • Pine Street
• Elm Street • Ranch Road
BEGINNING ENDING
FUND FUND
FUND DIVISION/SECTION BALANCE REVENUES EXPENDITURES BALANCE
Animal Services Fund Police Services 23,338 25,400 48,738 0
Cemetery Fund Community Services 23,701 50,049 73,750 0
Court Fee Fund Finance & Administration 1,115 40,800 41,915 0
Downtown TIF Management Services 0 18,429 18,429 0
Fire Billing for Service Fire Services 0 157,500 157,500 0
Library Donations Community Services 27,597 20,700 48,297 0
Main Street Facade Fund Community Services 2,387 15,300 17,687 0
Mapping Fund Community Development 14,290 31,738 46,028 0
Parks Restricted Community Services 74,556 79,950 154,041 465
Police Restricted Police Services 24,052 47,028 71,080 0
Street Maintenance Tax Georgetown Utility Systems 4,003 1,551,400 1,545,500 9,903
Tourism Fund Community Services 102,550 351,355 359,587 94,318
Wolf Ranch TIF Management Services 0 47,570 47,570 0
Total Special Revenue Funds 297,589 2,437,219 2,630,122 104,686
51
Internal Service Funds – Summary 2005/06
Fund Description:
Internal Service Funds are used to account for operations of the City that provide services to other departments
within the City, and are allocated to using department based on specific criteria which is reviewed annually.
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 support 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.
FACILITIES FLEET INFORMATION JOINT INTERNAL
MAINTENANCE MANAGEMENT SERVICES SERVICES SERVICES FUND
FUND FUND FUND FUND TOTAL
Beginning Working Capital 29,321 236,563 19,793 147,221 432,898
REVENUES:
Charges for Services 877,046 1,228,179 1,436,749 5,563,546 9,105,520
Interest & Other 7,000 23,000 17,500 66,500 114,000
Sale of Property 20,000 20,000
Interfund Transfers 897,240 21,100 380,000 1,298,340
Total Revenues 884,046 2,168,419 1,475,349 6,010,046 10,537,860
EXPENSES:
Georgetown Utility Systems 1,573,216 1,573,216
Finance & Administration 885,651 2,066,500 2,504,917 5,457,068
Management Services 1,463,196 1,998,233 3,461,429
Interfund Transfers 1,400 31,946 77,400 110,746
Total Expenses 887,051 2,066,500 1,495,142 6,153,766 10,602,459
Ending Working Capital 26,316 338,482 0 3,501 368,299