HomeMy WebLinkAbout03-Financial Summary
Financial
Summary
21
City Operations by Fund
GENERAL
FUND
SPECIAL
REVENUE
FUND
INTERNAL
SERVICE
FUND
City Council
Inspection
Services
Municipal
Court
OTHER
ENTERPRISE
FUND
WATER
SERVICES
FUND
ELECTRIC
FUND
Fire
Parks
Planning &
Development
Police
City Mgr Office
Public Library
Streets
Recreation
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 Admin
GUS Admin
Purchasing
Systems
Engineering
Legal
Contracts
Utility Office
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.
22
*Represents actual excess revenues collected and spent or available to be spent in subsequent years.
Property Taxes
8%
Sales Taxes
6%
Bond Proceeds
10%
Utility Revenue
47%
Grants
0%
Other Revenue
10% Interfund Transfers
8%
Service Improvement
Fees
1%
Charges for Services
8%
Capital Recovery
Fees
0.66%
Interest
0.59%
04/05 Actual
05/06
Amended
Budget
05/06
Projected
Actual
06/07
Adopted
Budget
07/08
Estimated
Budget
Property Taxes 8,425,750 9,176,803 9,192,303 11,042,835 11,716,335
Sales Taxes 6,047,639 7,716,900 7,907,500 8,453,375 8,917,012
Bond Proceeds 22,485,119 19,961,230 28,445,630 14,534,957 13,210,000
Charges for Services 9,098,712 10,089,938 10,089,938 11,332,690 11,349,612
Capital Recovery Fees 543,977 477,000 811,950 922,000 1,167,000
Service Improvement Fees 2,290,418 2,232,200 4,212,282 1,092,500 1,092,500
Utility Revenue 54,290,221 56,063,620 60,345,711 66,243,500 70,893,000
Grants 1,207,085 1,415,326 1,435,111 0 0
Interest 1,164,458 641,828 1,385,950 829,800 744,788
Other Revenue 14,859,744 13,367,508 20,758,758 14,560,465 16,249,777
Interfund Transfers 7,004,687 8,032,638 8,922,884 10,998,149 7,343,051
TOTAL REVENUE 127,417,810 129,174,991 153,508,017 140,010,271 142,683,075
*Fund balance (increase or use)(8,387,088) 14,988,149 (2,614,476)14,475,521 (1,177,324)
TOTAL BUDGET 119,030,722 144,163,140 150,893,541 154,485,792 141,505,751
Budgeted Revenues
2006-2007
23
Purchased Power
(GUS)
19%
Community
Services
3%
Debt Payments
7%
Capital
Improvements
22%
Georgetown Utility
Systems
20%
Interfund Charges &
Transfers
7%
Management
Services
7%
Community
Development
2%
Finance &
Administration
5%
Police Services
5%
Fire Services
3%
04/05 Actual
05/06
Amended
Budget
05/06
Projected
Actual
06/07
Adopted
Budget
07/08
Estimated
Budget
Georgetown Utility Systems 19,672,123 21,777,609 21,658,885 30,085,069 30,244,075
Purchased Power (GUS) 21,075,872 22,588,000 29,300,000 29,500,000 32,400,000
Community Development 2,026,942 2,439,610 2,355,826 2,649,149 2,332,284
Finance & Administration 8,780,812 9,069,674 10,342,839 8,088,800 6,812,102
Fire Services 3,668,729 4,397,382 4,418,196 5,073,838 5,109,873
Management Services 8,264,273 9,543,310 9,789,612 10,860,201 10,562,830
Community Services 4,704,350 4,736,244 4,764,574 5,161,410 5,091,920
Police Services 5,642,750 6,900,110 6,830,425 7,832,404 7,952,823
Capital Improvements 19,335,825 44,073,957 34,924,321 32,833,855 21,719,800
Debt Payments 18,854,359 10,604,606 17,585,979 11,402,917 11,936,993
Interfund Charges & Transfers 7,004,687 8,032,638 8,922,884 10,998,149 7,343,051
TOTAL BUDGET 119,030,722 144,163,140 150,893,541 154,485,792 141,505,751
Budgeted Expenses
2006-2007
24
0 10,000,000 20,000,000 30,000,000 40,000,000 50,000,000
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 2005/06 Budget Adopted 2006/07 Budget
Amended Adopted
2005/06 Budget % 2006/07 Budget %
Police Services 6,672,044 5.3% 7,591,715 5.7%
Streets 1,960,373 1.6% 2,446,970 1.8%
Electric 26,255,582 20.8% 34,398,893 26.0%
Economic Development 377,924 0.3% 384,599 0.3%
Water Services 8,807,963 7.0% 11,026,839 8.3%
Sanitation 2,873,909 2.3% 3,563,880 2.7%
Stormwater Drainage 407,284 0.3% 423,019 0.3%
Debt Payments 10,604,606 8.4% 11,402,917 8.6%
Airport 1,765,899 1.4% 1,967,355 1.5%
Fire Services 4,016,371 3.2% 4,684,217 3.5%
Management Svc-Others 1,115,003 0.9% 1,778,072 1.3%
Capital Improvements 44,073,957 34.9% 32,833,855 24.8%
Community Services 4,114,050 3.3% 4,460,411 3.4%
Community Development 2,193,058 1.7% 2,443,732 1.8%
Administration 10,932,335 8.7% 12,888,168 9.7%
Budget Total By Program 126,170,358 100.0% 132,294,642 100.0%
Interfund Transfers & Premiums 17,992,782 22,191,150
TOTAL OPERATING BUDGET 144,163,140 154,485,792
Program Budget
26
Property Tax Revenues
Taxable Property Values
0
2,000,000
4,000,000
6,000,000
8,000,000
10,000,000
12,000,000
14,000,000
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
27
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 2005/06 is 99.86%.
Taxable Valuations:
4 Over the past 5 years, new construction permits have ranged from 650 to 1,100. 2005/06 set a
new record with1,316 permits. This growth trend is expected to continue into 2007, based on
information from builders, planned subdivisions within the city and anticipated commercial
development.
4 Values on existing property increased 3.6% over last year. The average home value is $179,064,
which is an increase of 6.3% over the prior year. Overall, total assessed valuation was 14%
greater than prior year.
4 2006/07 new values include $267 million in new construction and annexed property, of which $67
million is new commercial property.
Adopted Property Tax Rate for 2006/07 is $0.36728/$100 valuation:
4 Represents a 6.7% increase over the adjusted effective rate of $0.34394/$100 valuation, which
includes a $0.030445 adjustment for sales tax dedicated to property tax relief.
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: 06/07 05/06
M & O - Maintenance and Operations (General Fund) $0.21979 $0.20713
I & S - Debt Service (payment on existing debt) $0.14749 $0.13913
*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 $150 million in 2007/08, then $100 million in the
out years 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 01/02 02/03 03/04 04/05 05/06 06/07* 07/08* 08/09* 09/10* 10/11*
Property Tax Revenues:
(in thousands)
General Fund 3,814 4,456 5,011 5,663 5,638 6,596 6,976 7,150 7,329 7,512
Debt Service 2,204 2,173 2,223 2,708 3,478 4,358 4,641 4,757 4,876 4,998
Property Values:
(in millions)
Existing Property 1,804 2,024 2,130 2,272 2,507 2,793 2,863 2,934 3,008 3,083
New & Annexed 135 167 92 120 136 267 150 100 100 100
Property
Tax Rates
Per $100 - taxable 0.307 0.303 0.322 0.346 0.346 0.367 0.343 0.353 0.338 0.320
valuation
*projected
28
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 2006/07 includes a 6.9% increase in the overall sales tax base projections from prior year. Growth in
baseline sales tax (without Wolf Ranch) has averaged about 10% due to increased building material sales. A
5% increase in baseline sales tax is projected in 2006/07 due to the volatility of the housing market and local
economic conditions.
4 The City’s development agreement with Simon for Wolf Ranch includes a sales tax rebate of 53% of General
operating sales tax revenue as an economic development incentive.
Sales Tax Revenue - 1% General Operating
$3.45M
$3.72M
$4.22M
$4.87M
$6.06M*
$6.48M*
$6.84M*
$6.95M*
$7.06M*
$7.16M*
$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
01/02
02/03
03/04
04/05
05/06*
06/07*
07/08*
08/09*
09/10*
10/11*
*Projected
30
Electric Revenue
*Projected
Water Services Revenue - Water
*Projected
$23.7 $26.3
$29.9
$34.3 $37.6
$43.2
$46.7 $49.4 $51.5 $53.5
$.0
$10.0
$20.0
$30.0
$40.0
$50.0
$60.0
01/02 02/03 03/04 04/05 05/06* 06/07* 07/08* 08/09* 09/10* 10/11*
Mi
l
l
i
o
n
s
$9.0 $9.4 $9.2
$10.5
$12.4 $11.7 $12.2 $13.1 $13.7 $14.3
$.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
01/02 02/03 03/04 04/05 05/06* 06/07* 07/08* 08/09* 09/10* 10/11*
Mi
l
l
i
o
n
s
31
Water Services Revenue - Wastewater
*Projected
$4.6
$5.2 $5.7 $6.0
$6.8 $7.1 $7.4 $7.8 $8.2 $8.5
$.0
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
$7.0
$8.0
$9.0
01/02 02/03 03/04 04/05 05/06* 06/07* 07/08* 08/09* 09/10* 10/11*
Mi
l
l
i
o
n
s
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
customers.
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%)
32
Capital Recovery Fee Revenue
Fiscal Year 01/02 02/03 03/04 04/05 05/06* 06/07* 07/08* 08/09* 09/10* 10/11*
Service Improvement Fees:
Water 756 1,590 1,593 1,597 3,040 689 689 1,199 661 670
Wastewater 373 671 671 671 1,162 386 386 692 306 306
Total (thousands)1,129 2,261 2,265 2,268 4,202 1,076 1,076 1,892 967 976
Impact Fees:
Water 337 433 400 544 812 922 1,167 1,219 1,328 1,379
Wastewater 244 294 321 427 506 723 910 931 999 1,021
Total (thousands)580 727 722 970 1,318 1,645 2,077 2,150 2,327 2,400
$0
$500,000
$1,000,000
$1,500,000
$2,000,000
01/02 02/03 03/04 04/05 05/06* 06/07* 07/08* 08/09* 09/10* 10/11*
Service Improvement Fees
Impact Fees
*Projected
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 serve the developments. The fees, similar to impact fees, are collected for water and wastewater
improvements as part of these development agreements. The large increase in revenue in 2005/06 is due to a one-
time payment from Del Webb to reimburse the City for stranded costs associated with Sun City.
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.
33
Sanitation Revenue:
Sanitation revenue includes fees collected for curbside garbage pick-up, including recycling and special pick-
ups. Revenue is expected to increase as rates are adjusted to fund the increasing cost of service. 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.
Fiscal Year 98/99 99/00 00/01 01/02 02/03 03/04 04/05 05/06* 06/07* 07/08*
(in thousands)
Stormwater Drainage 616 668 698 885 1,196 1,299 1,539 1,667 1,728 1,785
Airport 724 1,324 1,449 1,431 1,451 1,647 2,336 2,451 2,281 2,423
Sanitation 1,910 2,089 2,362 2,500 2,744 2,888 3,150 3,635 4,000 4,200
Other Enterprise Fund Revenues
$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
98/99 99/00 00/01 01/02 02/03 03/04 04/05 05/06* 06/07* 07/08*
Sanitation
Airport
Stormwater Drainage
*Projected
34
Other Miscellaneous Revenues
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
99/00 00/01 01/02 02/03 03/04 04/05 05/06* 06/07* 07/08*
Miscellaneous Revenue
Franchise Fees
Grant Revenue
*Projected
Interest Income
Interest Income:
The Federal Reserve raised interest rates over the past year, thus increasing 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.
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.
Fiscal Year 99/00 00/01 01/02 02/03 03/04 04/05 05/06* 06/07* 07/08*
(in thousands)
Interest Income 1,962 1,903 1,192 681 583 1,164 1,386 830 745
Grant Revenue 945 307 472 160 209 1,207 1,435 0 0
Miscellaneous Revenue 3,208 4,133 4,173 5,071 6,020 7,049 13,065 7,660 7,791
Franchise Fees 1,388 1,379 1,489 1,580 1,845 1,942 2,301 2,171 2,394
36
All Funds Summary
(1) Includes Airport, Sanitation, and Stormwater Drainage
(2) Includes debt service payments on behalf of the Georgetown Transportation Enhancement Corporation (GTEC) offset by
transfer from GTEC
(3)
.
General General
Special Capital Debt
Total General Revenue Projects Service
Budget Fund Funds Funds Fund
Beginning Fund Balances / 32,880,080 6,402,227 1,822,363 3,215,084 818,307
Working Capital
SOURCES & REVENUES:
Property taxes 11,042,835 6,596,365 78,570 4,367,900
Sales taxes 8,453,375 6,834,375 1,619,000
Bond Proceeds 14,597,587 5,847,587
Future Funding Source (62,630)(62,630)
Charges for Services 11,332,690 1,095,967
Capital Recovery Fees 922,000
Special Improvement Fees 1,092,500 16,800
Utility Revenues 66,243,500
Grants 0
Interest 829,800 290,000 32,400 105,400 60,000
Other Revenue 14,560,465 6,643,731 1,050,372 711,375 (2)
Interfund Transfers - ROI, Etc.10,998,149 5,740,819 79,020 2,374,500 88,996
Total Revenues 140,010,271 27,201,257 2,859,362 8,281,657 5,228,271
USES & EXPENSES:
Georgetown Utility Systems 30,085,069 2,616,181
Purchased Power 29,500,000
Community Development 2,649,149 2,579,986 69,163
Finance & Administration 8,088,800 368,997 100,864 73,500
Fire Services 5,073,838 4,912,676 161,162
Management Services 10,860,201 4,501,175 416,674
Community Services 5,161,410 4,834,301 327,109
Police Services 7,832,404 7,760,934 71,470
Capital Improvements 32,833,855 2,820,000 9,192,825
Debt Payments 11,402,917 5,074,768 (2)
Interfund Transfers 10,998,149 584,128 423,670 1,946,200
Total Uses & Expenses 154,485,792 28,158,378 4,390,112 11,212,525 5,074,768
Ending Fund Balance / 18,404,559 5,445,106 291,613 284,216 971,810
Working Capital
RESERVATIONS:
Contingency 12,400,000 5,350,000 75,000
Capital Projects/Other 4,539,424 102,032 67,200 971,810
Available Fund Balance/ 1,465,135 95,106 114,581 217,016 0
Working Capital
37
All Funds Summary
Other Internal
Electric Water Enterprise Service
Fund Fund Funds(1) Funds
Beginning Fund Balances / 5,518,342 13,775,309 859,458 468,990
Working Capital
SOURCES & REVENUES:
Property taxes
Sales taxes
Bond Proceeds 5,790,000 2,960,000
Future Funding Source
Charges for Services 10,236,723
Capital Recovery Fees 922,000
Special Improvement Fees 1,075,700
Utility Revenues 42,670,900 17,831,000 5,741,600
Grants
Interest 85,500 127,900 17,300 111,300
Other Revenue 1,618,271 2,021,500 2,495,216 20,000
Interfund Transfers - ROI, Etc. 86,161 2,628,653
Total Revenues 50,250,832 24,938,100 8,254,116 12,996,676
USES & EXPENSES:
Georgetown Utility Systems 7,538,536 13,512,413 4,797,519 1,620,420
Purchased Power 29,500,000
Community Development
Finance & Administration 7,545,439
Fire Services
Management Services 2,057,632 3,884,720
Community Services
Police Services
Capital Improvements 7,618,550 12,762,480 440,000
Debt Payments 2,358,300 3,514,459 455,390
Interfund Transfers 5,513,274 2,006,877 463,052 60,948
Total Uses & Expenses 52,528,660 31,796,229 8,213,593 13,111,527
Ending Fund Balance / 3,240,514 6,917,180 899,981 354,139
Working Capital
RESERVATIONS:
Contingency 3,200,000 3,475,000 300,000
Capital Projects/Other 2,540,179 504,064 354,139
Available Fund Balance/ 40,514 902,001 95,917 0
Working Capital
38
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.
05/06 06/07 07/08
04/05 05/06 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Fund Balance 4,744,968 6,484,776 6,487,099 6,402,227 5,445,106
REVENUES:
Property Taxes 5,663,442 5,622,365 5,637,865 6,596,365 6,976,365
Sales Taxes 4,823,378 6,168,000 6,392,500 6,834,375 7,205,012
Interest 167,417 172,000 260,000 290,000 290,000
Administrative Charges 856,478 984,418 984,418 1,095,967 1,115,409
All Other Revenue 5,473,017 5,321,973 6,170,600 6,643,731 6,825,516
Return on Investment 4,550,972 4,712,800 5,103,046 5,523,249 5,894,581
Transfers In 253,632 (1)393,987 393,987 217,570 217,570
Total Revenues 21,788,336 23,375,543 24,942,416 27,201,257 28,524,453
EXPENSES:
Georgetown Utility Systems 1,946,298 2,108,762 1,608,762 2,616,181 2,828,446
Community Development 2,007,544 2,393,582 2,309,774 2,579,986 2,295,896
Finance & Administration 285,110 396,321 396,321 368,997 368,997
Fire Services 3,519,995 4,297,582 4,272,996 4,912,676 5,030,073
Management Services 1,259,045 1,820,687 1,820,745 2,415,356 2,500,883
Community Services 3,833,934 4,460,156 4,453,605 4,834,301 4,924,371
Police Services 5,440,185 6,755,823 6,738,068 7,760,934 7,920,423
Administrative Expense 1,398,180 1,682,309 1,682,309 2,085,819 2,043,924
Transfers Out 355,914 1,244,708 1,744,708 584,128 79,520
Total Expenses 20,046,205 25,159,930 25,027,288 28,158,378 27,992,533
Ending Fund Balance 6,487,099 4,700,389 6,402,227 5,445,106 5,977,026
RESERVATIONS:
Contingency 3,930,000 4,700,000 4,700,000 5,350,000 5,500,000
Available Fund Balance 2,557,099 389 1,702,227 95,106 477,026
(1) Contingency reserve reallocation
39
Significant Issues/Comments:
4 Funds for street capital maintenance total $1,176,000, and represents 4% of the General Fund on-going
operating budget increasing from $825,000 from the prior year. The total General Fund portion of street
maintenance is $2.06 million, which includes staff costs, utility costs for street lighting and other maintenance
costs.
4 The final year of a three year initiative to improve emergency response levels through increased staffing is
included in the 2006/07 budget. Funding includes $129,686 for additional personnel and equipment in Police
and $190,627 in Fire with staggered hiring dates of January and October.
4 Public Safety compensation was increased in 2006/07 to be more competitive with surrounding communities.
$689,000 is included for pay adjustments for existing Public Safety staff.
4 Funding includes $962,404 of “one time” projects, including Library start up costs, long range planning studies
and gateway signage.
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 2006/07
Revenues
Admin Charges
4%
Interest &
Other
25%
Property Taxes
23%
Fund Balance
3%
Tfr In - Return
on Inv.
20%
Sales Taxes
24%
Expenditures
GUS
9%Comm Dev
9%
F&A
1%
Fire Svcs
17%
Mgt Svcs
9%Comm Svcs
17%
Police Svcs
29%
Transfers Out
2%Admin Exp
7%
40
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.
05/06 06/07 07/08
04/05 05/06 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 5,022,961 7,026,514 6,771,089 5,518,342 3,240,514
REVENUES:
Electric Services 33,802,583 34,300,000 36,852,200 42,670,900 46,156,600
Bond Proceeds 575,000 8,198,000 8,500,000 5,790,000 1,510,000
Interest 132,192 45,500 45,500 85,500 85,500
All Other Revenue 1,799,159 1,535,582 7,802,382 1,618,271 1,613,271
Transfers In 86,161 65,034
Total Revenues 36,308,934 44,079,082 53,200,082 50,250,832 49,430,405
EXPENSES:
Georgetown Utility Systems 5,415,707 5,974,025 6,068,736 7,538,536 7,496,139
Purchased Power 21,075,872 22,588,000 29,300,000 29,500,000 32,400,000
Capital Projects 3,877,887 15,029,600 14,208,600 7,618,550 3,293,000
Debt Payments 1,252,446 1,707,789 1,255,125 2,358,300 2,440,150
Transfers Out 2,938,894 3,376,512 3,620,368 5,513,274 3,809,771
Total Expenses 34,560,806 48,675,926 54,452,829 52,528,660 49,439,060
Ending Working Capital 6,771,089 2,429,670 5,518,342 3,240,514 3,231,859
RESERVATIONS:
Contingency 2,245,000 2,225,000 2,245,000 3,200,000 3,200,000
Available Working Capital 4,526,089 204,670 3,273,342 40,514 31,859
41
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 Services 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 2007, $1.2 million
of operating revenues and $5.8 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 A 24/7 dispatch program will be added in 2007 to meet demand, along with an underground
maintenance crew.
4 The first of two City-owned electric substations will come on-line in 2007 to provide power to the
southside service area.
Fiscal Year 2006/07
Revenues
Electric
Services
81%
Fund
Balance
5%
Bond
Proceeds
11% Interest &
Other
3%
Expenses
Operating
14%
Purchased
Power
57%
Transfers
10%
Capital
Projects
15%
Debt
Payments
4%
42
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.
05/06 06/07 07/08
04/05 05/06 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 8,471,859 9,040,859 8,897,788 13,775,309 6,917,180
REVENUES:
Water Services 9,838,920 10,236,000 11,616,109 10,888,600 11,423,200
Wastewater Services 5,696,858 6,347,530 6,278,900 6,657,500 6,995,100
Irrigation Services 249,543 284,900 284,900 284,900 318,900
Bond Proceeds 3,450,000 2,960,000 1,225,000
Impact Fees 543,977 477,000 811,950 922,000 1,167,000
Service Improvement Fees 2,268,168 2,215,400 4,195,482 1,075,700 1,075,700
Interest 384,240 212,650 433,650 127,900 127,900
All Other Revenue 2,217,217 2,074,350 2,186,982 2,021,500 2,808,100
Transfer In 10,376 10,376
Total Revenues 24,648,923 21,858,206 25,818,349 24,938,100 25,140,900
EXPENSES:
Georgetown Utility Systems 10,173,615 11,204,109 11,531,043 13,512,413 13,395,368
Capital Projects 8,704,235 8,563,000 4,698,520 12,762,480 7,201,000
Debt Payments 3,473,244 3,609,900 3,618,175 3,514,459 3,401,914
Transfers Out 1,871,900 1,823,166 1,935,256 2,006,877 1,843,114
Total Expenses 24,222,994 25,200,175 21,782,994 31,796,229 25,841,396
Ending Working Capital 8,897,788 5,698,890 12,933,143 6,917,180 6,216,684
RESERVATIONS:
Contingency 2,750,000 3,100,000 3,100,000 3,475,000 3,350,000
Service Improvement Fees 922,144 1,850,704 3,814,786 2,540,179 2,761,590
Future Capital Improvements (1) 723,400 656,300 806,300
Available Working Capital 4,502,244 91,886 5,212,057 902,001 105,094
(1) Includes Water Conservation revenue dedicated to future water plant expansions.
43
Significant Issues/Comments:
4 Water supply is provided through agreements with the Brazos River Authority (BRA). BRA expenses will
increase 15% 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 at 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 5 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 the
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.
Fiscal Year 2006/07
Revenues
Water
Services
34%
SIP & CR
Fees
6%
Fund
Balance
31%
Interest &
Other
7%
Irrigation
Services
1%
Wastewater
Services
21%
Expenses
Capital
Projects
40%
Debt
Payments
11%
Transfers
6%
Operating
43%
44
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 Federal Tower Grant for airport improvements from the Aviation Division of
the Texas Department of Transportation in 2006 The tower is expected to be completed by June 2007.
The City will also be eligible for the Federal Aviation Administration’s tower maintenance program, which
will fund the cost to staff the tower. The City will pay utility and building maintenance costs.
05/06 06/07 07/08
04/05 05/06 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 432,569 587,061 541,274 547,111 654,064
REVENUES:
Fuel & Terminal Sales 1,901,717 1,669,549 2,010,000 1,840,000 1,982,000
Leases & Rents 434,513 440,880 440,880 440,880 440,880
Interest 13,024 8,000 25,000 15,000 19,000
Grant 134,358 1,365,857 1,365,642
Bond Proceeds 250,000
Bond Reimbursement 250,000 250,000 (250,000)
All Other Revenue 79,671 48,180 69,780 63,780 63,780
Transfers In 562 562
Total Revenues 2,563,283 3,783,028 4,161,864 2,359,660 2,505,660
EXPENSES:
Management Services 1,999,523 1,839,700 2,152,096 2,057,632 2,176,990
Capital Projects 257,930 1,785,175 1,815,056
Debt Payments 197,125 188,875 188,875 195,075 218,905
Total Expenses 2,454,578 3,813,750 4,156,027 2,252,707 2,395,895
Ending Working Capital 541,274 556,339 547,111 654,064 763,829
RESERVATIONS:
Contingency 150,000 150,000 150,000 150,000 150,000
Future Capital Improvements 302,633 406,339 397,111 504,064 606,829
Available Working Capital 88,641 0 0 0 7,000
45
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 Staff is conducting community focus groups to ensure services provided in the City’s sanitation
contract reflect the needs and expectations of the community.
4 Sanitation rates are being reviewed and are expected to increase to reflect the increasing cost of
service.
4 The City received a Capital Area Council of Governments (CAPCOG) grant for improvements to the
City’s collection station in 2005/06. These grant funds will be expended in 2006/07 on road
improvements and new equipment purchases that will expand recycling opportunities with the City.
4 Debt planned for issuance in 2005/06 to fund maintenance at the City’s old, closed landfill, will be
rolled into 2006/07.
05/06 06/07 07/08
04/05 05/06 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 30,207 26,212 19,600 32,851 11,762
REVENUES:
Sanitation Services 3,150,493 3,295,300 3,635,002 4,000,000 4,200,000
All Other Revenue 76,775 75,000 75,000 129,556 132,946
Bond Proceeds 575,000
Total Revenues 3,227,268 3,370,300 4,285,002 4,129,556 4,332,946
EXPENSES:
Finance & Administration 2,947,137 3,078,051 3,364,951
Georgetown Utility Systems 3,791,693 3,886,155
Hazardous Waste Clean-up 34,556 37,000 587,000 37,000 37,000
Debt Payments 25,000 45,000
Transfers Out 256,182 267,200 294,800 321,952 336,000
Total Expenses 3,237,875 3,382,251 4,271,751 4,150,645 4,304,155
Available Working Capital 19,600 14,261 32,851 11,762 40,553
Available Fund Balance 19,600 14,261 32,851 11,762 40,553
46
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.
05/06 06/07 07/08
04/05 05/06 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 219,282 675,440 696,068 279,496 234,155
REVENUES:
Stormwater Fees 1,551,824 1,599,890 1,678,600 1,741,600 1,799,200
Bond Proceeds 650,000
Interest 449,319 2,300 26,500 2,300 2,300
All Other Revenue 21,031 21,000 21,000 21,000 21,000
Total Revenues 2,022,174 1,623,190 1,726,100 1,764,900 2,472,500
EXPENSES:
Georgetown Utility Systems 834,118 895,075 890,347 968,826 974,865
Capital Projects 325,540 807,000 857,000 440,000 979,000
Debt Payments 266,361 258,925 258,925 260,315 320,544
Transfers Out 119,369 129,700 136,400 141,100 145,700
Total Expenses 1,545,388 2,090,700 2,142,672 1,810,241 2,420,109
Ending Working Capital 696,068 207,930 279,496 234,155 286,546
RESERVATIONS:
Contingency 150,000 150,000 150,000 150,000 150,000
Available Working Capital 546,068 57,930 129,496 84,155 136,546
47
General Capital Projects Funds - Summary 2006/07
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 2006/07 plan
includes $2 million to remodel the Williamson County Appraisal District building into the City’s
technology center, as well as, design for renovation of the old Library, start-up costs at new facilities
(Library, Community Center, Fire Station) and $1.2 million for park and downtown improvements.
The City will also relocate its electric operation into a new facility estimated at $1.7 million.
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. Special Improvement Program fees will fund a traffic signal at
Whispering Wind and Del Webb Blvd.
Public Safety Capital Projects Fund:
4 Includes funds for the public safety vehicle replacement program.
FACILITIES & STREETS GENERAL
PARKS PUBLIC SAFETY CAPITAL CAPITAL PROJECTS
PROJECTS PROJECTS PROJECTS TOTAL
Beginning Fund Balance 2,202,954 137,662 874,468 3,215,084
REVENUES:
Interest 103,400 2,000 105,400
Bond Proceeds 3,840,887 2,006,700 5,847,587
Future Funding Source (62,630)
Service Improvement Fees 16,800 16,800
Transfer In 2,361,500 13,000 2,374,500
Total Revenues 6,243,157 2,019,700 18,800 8,344,287
EXPENDITURES:
Debt Issuance Costs 152,357 73,500 225,857
Capital Projects 8,214,400 826,068 9,040,468
Transfers Out 1,946,200 1,946,200
Total Expenditures 8,366,757 2,019,700 826,068 11,212,525
Ending Fund Balance 79,354 137,662 67,200 284,216
Service Improvement Reservation 67,200 67,200
Available Fund Balance 79,354 137,662 0 217,016
48
Special Revenue Funds – Summary 2006/07
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 2007 are included in the Capital Improvement Project section of this document.
BEGINNING ENDING
FUND FUND
FUND DIVISION/SECTION BALANCE REVENUES EXPENDITURES BALANCE
Animal Services Fund Police Services 32,847 25,400 58,247 0
Abandoned Vehicle Fund Police Services 05 , 0 0 0 5 , 0 0 0
Cemetery Fund Community Services 31,705 60,049 91,754 0
Court Fee Fund Finance & Administration 63,364 47,500 110,864 0
Downtown TIF Management Services 18,429 31,000 0 49,429
Fire Billing for Service Fire Services 95,262 127,500 222,762 0
Library Donations Community Services 31,336 296,200 327,536 0
Main Street Facade Fund Community Services 22,556 15,600 38,156 0
Mapping Fund Community Development 24,275 44,888 69,163 0
Parks Restricted Community Services 96,519 86,300 182,819 0
Police Restricted Police Services 20,723 2,000 22,723 0
Street Maintenance Tax Georgetown Utility Systems 1,238,603 1,634,000 2,820,000 52,603
Tourism Fund Community Services 146,744 436,355 393,518 189,581
Wolf Ranch TIF Management Services 0 47,570 47,570 0
Total Special Revenue Funds 1,822,363 2,859,362 4,390,112 291,613
49
Internal Service Funds – Summary 2006/07
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 51,803 341,511 18,994 56,682 468,990
REVENUES:
Charges for Services 1,112,891 1,334,843 1,501,190 6,287,799 10,236,723
Interest & Other 7,000 23,000 17,500 63,800 111,300
Sale of Property 20,000 20,000
Interfund Transfers 104,200 2,136,300 65,653 322,500 2,628,653
Total Revenues 1,224,091 3,514,143 1,584,343 6,674,099 12,996,676
EXPENSES:
Georgetown Utility Systems 1,620,420 1,620,420
Finance & Administration 1,245,504 3,535,823 2,764,112 7,545,439
Management Services 1,573,857 2,310,863 3,884,720
Interfund Transfers 28,200 27,396 5,352 60,948
Total Expenses 1,273,704 3,535,823 1,601,253 6,700,747 13,111,527
Ending Working Capital 2,190 319,831 2,084 30,034 354,139