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HomeMy WebLinkAbout03-Financial Summary 20 City Operations by Fund 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. GENERAL FUND OTHER ENTERPRISE FUND INTERNAL SERVICE FUND WATER SERVICES FUND ELECTRIC FUND SPECIAL REVENUE FUND Community Dev Admin Recreation Transportation Admin Environmental Services Library Municipal Court City Council Parks City Manager's Office Tourism Electric Operations AMR Electric T & D Water Distribution Reuse Irrigation Wastewater Collection Airport Operations Stormwater Drainage Facilities Maintenance Joint Services Fleet Management Information Technology F & A Administration GIS Accounting Economic Development GUS Administration Human Resources Fire Inspection Services Streets Housing Police Planning Purchasing Legal Contracts Utility Office Main Street Systems Engineering CVB City Operations by Fund / by Division This mat City's opera by fund / intended t user unders organizati related fundi rix represents the tional departments by division. It is o help the budget tand the City's onal structure and its ng sources.G e n e r a l F u n d S p e c i a l R e v e n u e F u n d T o u r i s m E l e c t r i c F u n d W a t e r S e r v i c e s F u n d O t h e r E n t e r p r i s e F u n d I n t e r n a l S e r v i c e F u n d F l e e t M a n a g e m e n t F a c i l i t i e s M a i n t e n a n c e I n f o r m a t i o n T e c h n o l o g y J o i n t S e r v i c e s F u n d Community Development Code Enforcement Geographic Information Bldg Inspections Systems (GIS) Planning Housing Administration Parks CVB Recreation Library Municipal Facilities Administration Court Management Accounting Fleet Management Purchasing Utility Office Administration Operations Environmental Electric Water GUS Services Operations Services Administration Electric Wastewater Systems T&D Services Engineering SCADA / AMR Reuse Irrigation City Council Airport Information Human Operations Technology Resources City Manager's Economic Office Development Governmental Legal Contracts Main Street Administrative Services Support Services Field Operations Animal Services Administration Stormwater Drainage Streets Community Development Community Services ance and istration Fire town Utility Systems Management Services Police Transportation Fin Admin George 22 Budgeted Revenues 2008/2009 07/08 Amended 06/07 Actual Budget P d Actual P Budget Estimated Budget 1 1 1 1 1 ees venue 6 8 8 9 9 1 1 1 168,9 157,1 198,0 191,5 *Fund balance e or use) TOTAL BUDGET 160,203,159 185,824,472 165,606,985 214,700,611 188,794,477 23 07/08 rojecte 08/09 roposed 09/10 Property Taxes Sales Taxes 1 8,815,648 1,200,498 1 9,165,000 3,070,365 13 922,545 ,009,365 1 9,835,870 4,064,100 14,249,100 10,200,250 Bond Proceeds 29,080,334 18,826,337 14,560,000 28,760,000 27,458,000 Charges for Services 1 882,575 ,375,109 3,247,359 3 884,375 ,168,372 5,163,426 5,196,493 Capital Recovery Fees 2,110,000 2,060,875 2 725,300 ,601,285 Service Improvement F 2,612,946 1,870,450 1,775,600 1,691,000 Utility Re 5,758,692 1,9 26,500 07,350 4 234,933 ,495,116 5, 62,839 557,586 0, 26,500 837,176 Grants 1,024,082 Interest 2,982,282 1,803,950 1,822,604 1,699,138 1,736,688 Other Revenue 8,580,761 16,817,708 6,344,957 17,727,425 9,076,412 Interfund Transfers 8,603,880 10,136,348 9,981,712 11,409,185 9,467,728 TOTAL REVENUE 160,916,807 81,367 99,579 31,444 74,932 (increas (713,648)16,843,105 8,407,406 16,669,167 (2,780,455) Budgeted Expenses by Division 2008/2009 24 06/07 Actual 07/08 Amended Budget 07/08 Projected Actual 08/09 Proposed Budget 09/10 Estimated Budget Georgetown Utility Systems 28,666,629 28,728,790 29,354,964 33,022,454 33,159,599 Purchased Power (GUS) 28,307,539 40,752,000 37,923,375 46,571,808 44,374,848 Transportation 2,055,745 4,225,328 4,014,354 4,872,774 4,366,498 Community Development 2,509,926 2,884,913 2,771,061 2,786,840 2,918,195 Finance & Administration 7,741,376 7,054,260 6,880,309 9,414,930 9,222,570 Fire Services 4,866,884 5,846,636 5,596,188 6,904,618 6,894,501 Management Services 10,136,743 11,236,517 11,375,219 13,178,671 12,418,251 Community Services 5,312,374 6,895,276 6,500,873 7,911,007 7,330,993 Police Services 7,693,206 9,299,866 8,706,570 9,893,068 9,841,414 Capital Improvements 40,354,004 43,780,409 27,733,813 52,954,513 33,980,750 Debt Payments 13,954,853 14,984,129 14,768,547 15,780,743 14,819,130 Interfund Charges & Transfers 8,603,880 10,136,348 9,981,712 11,409,185 9,467,728 TOTAL BUDGET 160,203,159 185,824,472 165,606,985 214,700,611 188,794,477 Budgeted Expenses by Program 2008/2009 Amended Adopted %%2007/08 Budget 2008/09 Budget Community Development 2,521,740 2,661,009 1.6%1.3% Community Services 6,264,115 5,537,650 3.4%3.3% Fire Services 6,354,383 5,358,594 3.3%3.4% Management Svc-Others 1,397,120 1,360,824 0.8%0.7% Administration 16,223,813 12,326,842 7.6%8.6% Airport 2,569,465 2,246,589 1.4%1.4% Economic Development 439,384 423,552 0.3%0.2% Police Services 9,692,341 9,042,492 5.6%5.1% Electric 53,250,794 46,274,202 28.5%28.3% Sanitation 4,570,724 3,862,014 2.4%2.4% Stormwater Drainage 617,752 441,676 0.3%0.3% Water Services 12,387,654 11,292,296 6.9%6.6% Transportation 3,337,673 3,048,060 1.9%1.8% Capital Improvements 52,954,513 43,780,409 26.9%28.1% Debt Payments 15,780,743 14,984,129 9.2%8.4% Budget Total By Program 162,640,338 25 100.0%188,362,214 100.0% Interfund Transfers & Premiums 23,184,134 26,338,397 TOTAL OPERATING BUDGET 185,824,472 214,700,611 Property Tax Revenue *Projected Taxable Property Values *Projected *Projected 26 Fiscal Year 12/13*03/04 04/05 10/11* 05/06 06/07 07/08*08/09*09/10*11/12* Property Tax Revenues: (in thousands) General Fund 5,011 5,663 8,385 8,5265,638 6,596 7,429 7,892 8,390 8,480 2,223 2,708 6,967 8,1653,478 4,368 5,548 5,869 6,312 7,535Debt Service Property Values: (in millions) Existing 2,130 2,272 4,457 4,8432,507 2,793 3,275 3,895 4,170 4,648 92 120 100 100136267336275200100New & Annexed Tax Rates Per $100 - taxable 0.322 0.346 0.356 0.3560.346 0.367 0.357 0.356 0.356 0.356 valuation *Projected Taxes: Taxes are levied on January 1 of each year and are considered past due on February 1 of the following year. The Williamson Central 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 2007/08 was 98.24%%. Taxable Valuations: 4 Over the past 5 years, new residential construction permits have ranged from 750 to 1,500. In 2008 768 permits, valued at over $200 million were issued. Expectations are for a general slowdown in development due to overall economic conditions. 4 Values on existing property increased 3.8% over last year. The average home value is $193,263, which is an increase of 5% over the prior year. Overall, total assessed valuation was 11.2% greater than prior year. 4 2008/09 new values include $276million in new construction and annexed property, of which $100 million is new commercial property. Adopted Property Tax Rate for 2008/09 is $0.35622/$100 valuation: 4 Represents a 1.55% increase over the adjusted effective rate of $0.35078/$100 valuation, which includes a $0.0283 adjustment for sales tax dedicated to property tax relief. 4 The City adopted a 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. All authorized 2004 bonds have been issued with a total tax impact of $0.03975. 4 Breakdown: 08/09 07/08 M & O - Maintenance and Operations (General Fund) $0.20053 $0.20322 I & S - Debt Service (payment on existing debt) $0.15569 $0.15337 *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 $200 million in 2008/09, then $100 million in the out years as new retail properties are added to the tax role, with no increase expected in 2009/10 for existing property, then 2% annual increase. 4 Projects no increase in actual tax rate 4 Reflects impact of 1/8% sales tax for property tax relief. 4 Includes proposed debt increases for scheduled bond issues, and doesn’t include any bonds that may be authorized in November 2008 for roads or parks expansion. 27 Sales Tax Revenue – 1% General Operating *Projected *Projected 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; sunset revision approved November 2006, expires in March 2011 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 Future projections are based on the following assumptions: 4 2008/09 includes a 3% increase in the overall sales tax base projections from prior year. Growth in baseline sales tax (without Wolf Ranch) has averaged about 9% due to increased building material sales and expanded retail options within the City. A 3% increase in baseline sales tax is projected in 2008/09 due to the volatility of the housing market and local economic conditions. 4 Long term projections are expected to remain relatively flat with little new growth over the next few years due to the impacts of the most recent economic downtown. These conditions are expected to last 18 to 24 months. 29 Electric Revenue *Projected Water Services Revenue – Water *Projected *Projected 30 Water Services Revenue - Wastewater *Projected *Projected *Projected Utility Revenues: The revenue shown includes 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 years, as the City’s southern electric service area is developed. 4 Assumes a 5% customer growth for Water for the next five years. 4 Rising purchased power costs also contribute 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 Assumes a 5% customer growth over the next five years. (historical average is 5-6%) 4 City implemented a flat rate sewer rate structure in April 2007, thus eliminating “winter averaging” within the rate. 4 Flat rates allocate cost equitability between all system users, and thus eliminates any cross-class subsidies. 31 Capital Recovery Fee Revenue *Projected Fiscal Year 03/04 10/11* 04/05 05/06 06/07*07/08*08/09*09/10*11/12*12/13* Service Improvement Fees: Water 1,593 457 495 1,597 4,113 2,200 1,064 1,036 457 304 Wastewater 671 254 330 671 1,520 564 691 640 305 203 Total (thousands) 2,265 710 825 2,268 5,634 2,764 1,755 1,676 761 507 Impact Fees: Water 400 1,408 1,745 544 867 1,032 1,212 1,364 1,911 2,327 Wastewater 321 986 1,239 427 599 585 240 797 1,395 1,639 Total (thousands) 722 2,393 2,984 970 1,466 1,618 1,452 2,161 3,306 3,965 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. Additionally, the large increase (over normal growth) in 2006/07 is due to a one-time payment to reimburse the City for stranded costs associated with the Escalera water line. 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. These fees will be reviewed again in 2009. 32 Other Enterprise Fund Revenues 33 (in thousands) Fiscal Year 00/01 07/08* 08/09* 01/02 02/03 03/04 04/05 05/06 06/07 09/10* Stormwater Drainage 698 1,849 1,849 885 1,196 1,299 1,539 1,694 1,773 2,039 Airport 1,449 1,431 1,451 1,647 2,336 2,596 2,458 2,576 2,576 2,745 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. Miscellaneous Revenues 35 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 which began 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 right of ways 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. Environmental Services Revenue: (previously an enterprise fund) Environmental Services revenue includes fees collected for curbside garbage pick-up, including recycling and special pick-ups. In 2007, the Sanitation rates were increased to reflect increases in costs passed to the City by the City’s waste collection contractor. Growth in the City’s customer base continues to be steady, mirroring the City’s overall growth rate. The City contracts with Texas Disposal Systems for garbage service. Fiscal Year (in thousands) 3,68 4,38 4,71 4,94 01/02 02/03 07/08* 03/04 04/05 05/06 06/07 08/09*09/10* Interest Income 2,47 2 1 ,82,98 4 1 ,02 1 2 6 3 2 7 2 2,88,71 9 9,65,78 3 2 2 ,70,08 0,18 8 ,51 9 2 ,20 9,55 1 1 ,73 ,695 1 8 1 ,84 2 1 0 6,02 ,161 ,19 6 8 47 1 1 ,58 ,48 1 6 4 5 ,07,17 ,20Grant Revenue 7 ,04Miscellaneous Revenue Franchise Fees 1 ,94 Environmental Svcs 2 2 ,74 ,50 2 ,88 3 ,15 3 ,39 All Funds Summary (By Fund / By Personnel-Operating-Capital) General GOVERNMENTAL FUND TYPES General Capital Special Debt Projects Total General Revenue Service Funds Budget Fund Funds Fund Beginning Fund Balances / 3,466,573 39,615,210 9,298,849 2,693,487 1,253,153 Working Capital SOURCES & Property taxes 14,064,100 8,174,100 30,000 5,860,000 Sales taxes 9,835,870 7,952,870 1,883,000 Bond Proceeds 12,079,000 28,760,000 Charges for Services 15,163,426 1,356,398 Capital Recovery Fees 2,060,875 Special Improvement Fees 15,000 1,691,000 Utility Revenues 4,718,93395,557,586 Grants 62,839 62,839 Interest 296,300 1,699,138 60,000325,000 106,850 Other Revenue 17,727,425 9,287,122 703,984 1,299,488 (2) Interfund Transfers - ROI, Etc. 1,816,000 11,409,185 5,0807,097,486 66,691 Total Revenues 14,206,300 198,031,444 38,911,909 2,853,364 7,224,568 USES & EXPENSES: Personnel 36,088,810 22,629,668 251,659 Operating 92,834,983 15,249,786 707,728 Capital 1,818,000 339,3855,632,377 Capital Improvements 15,235,303 3,499,90552,954,513 Debt Payments 7,444,702 (2)14,236,743 Debt Service - New 339,000 Debt Issuance Costs 550,000 1,205,000 Interfund Transfers 11,409,185 1,984,881 277,771 Total Uses & Expenses 15,785,303 214,700,611 41,682,335 5,076,448 7,444,702 1,887,570 Ending Fund Balance / 22,946,043 6,528,423 470,403 1,033,019 Working Capital RESERVATIONS Contingency 14,520,000 6,500,000 75,000 Capital Projects/Other 1,887,570 395,403 1,033,0198,362,382 Available Fund Balance/ 0 63,661 28,423 0 0 Working Capital (1) Includes Airport & Stormwater Drainage (2) Includes debt service payments on behalf of GTEC offset by transfer from GTEC (3) Includes debt service payments on behalf of GEDCO offset by transfer from GEDCO 38 All Funds Summary (By Fund / By Personnel-Operating-Capital) Other Internal Enterprise Electric Water Service Funds (1) Fund Fund Funds Beginning Fund Balances / 2,351,291 6,157,535 13,448,474 945,848 Working Capital SOURCES & REVENUES: Property taxes Sales taxes Bond Proceeds 1,950,000 6,100,000 8,631,000 Charges for Services 13,807,028 Capital Recovery Fees 2,060,875 Special Improvement Fees 1,676,000 Utility Revenues 1,942,210 67,879,757 21,016,686 Grants Interest 55,000 125,000 600,000 130,988 Other Revenue 3,037,660 1,912,051 1,467,120 20,000 Interfund Transfers - ROI, Etc. 86,161 2,337,767 Total Revenues 6,984,870 76,102,969 35,451,681 16,295,783 USES & EXPENSES: Personnel 527,586 3,704,443 1,883,050 7,092,404 Operating 3,534,451 53,336,140 13,421,349 6,585,529 Capital 365,000 425,000 2,684,992 Capital Improvements 3,621,500 11,943,000 18,654,805 Debt Payments 531,186 2,442,341 3,818,514 (3) Debt Service - New 24,000 140,000 175,000 Debt Issuance Costs 90,000 275,000 290,000 Interfund Transfers 156,977 6,502,351 2,409,397 77,808 Total Uses & Expenses 8,485,700 78,708,275 41,077,115 16,440,733 850,461 800,898Ending Fund Balance / 3,552,229 7,823,040 Working Capital RESERVATIONS: Contingency 300,000 3,525,000 4,120,000 Capital Projects/Other 550,461 3,695,031 800,898 Available Fund Balance/ 27,229 8,009 0 0 Working Capital ENTERPRISE FUNDS PROPRIETARY FUND TYPES 39 All Funds Summary (By Fund / By Division) 36 General General Special Capital Debt Total General Revenue Projects Service Budget Fund Funds Funds Fund Beginning Fund Balances / 39,615,210 9,298,849 2,693,487 3,466,573 1,253,153 Working Capital SOURCES & Property taxes 14,064,100 8,174,100 30,000 5,860,000 Sales taxes 9,835,870 7,952,870 1,883,000 Bond Proceeds 28,760,000 12,079,000 Charges for Services 15,163,426 1,356,398 Capital Recovery Fees 2,060,875 Special Improvement Fees 1,691,000 15,000 Utility Revenues 95,557,586 4,718,933 Grants 62,839 62,839 Interest 1,699,138 325,000 106,850 296,300 60,000 Other Revenue 17,727,425 9,287,122 703,984 1,299,488 (2) Interfund Transfers - ROI, Etc. 11,409,185 7,097,486 66,691 1,816,000 5,080 Total Revenues 198,031,444 38,911,909 2,853,364 14,206,300 7,224,568 USES & EXPENSES: Georgetown Utility Systems 33,022,454 4,580,383 Purchased Power 46,571,808 Transportation 4,872,774 3,530,234 Community Development 2,786,840 2,522,783 Finance & Administration 9,414,930 530,851 173,587 Fire Services 6,904,618 6,904,618 Management Services 13,178,671 4,843,782 105,913 Community Services 7,911,007 7,004,312 906,695 Police Services 9,893,068 9,780,491 112,577 Capital Improvements 52,954,513 3,499,905 15,235,303 Debt Payments 14,236,743 7,444,702 (2) Debt Service - New 339,000 Debt Issuance Costs 1,205,000 550,000 Interfund Transfers 11,409,185 1,984,881 277,771 Total Uses & Expenses 214,700,611 41,682,335 5,076,448 15,785,303 7,444,702 Ending Fund Balance / 22,946,043 6,528,423 470,403 1,887,570 1,033,019 Working Capital RESERVATIONS Contingency 14,520,000 6,500,000 75,000 Capital Projects/Other 8,362,382 395,403 1,887,570 1,033,019 Available Fund Balance/ 63,661 28,423 0 0 0 Working Capital GOVERNMENTAL FUND TYPES (1) Includes Airport & Stormwater Drainage (2) Includes debt service payments on behalf of GTEC offset by transfer from GTEC (3) Includes debt service payments on behalf of GEDCO offset by transfer from GEDCO All Funds Summary (By Fund / By Division) 37 Other Internal Enterprise Water ServiceElectric Funds (1) Fund Fund Funds Beginning Fund Balances / 2,351,291 6,157,535 13,448,474 945,848 Working Capital SOURCES & REVENUES: Property taxes Sales taxes Bond Proceeds 1,950,000 6,100,000 8,631,000 Charges for Services 13,807,028 Capital Recovery Fees 2,060,875 Special Improvement Fees 1,676,000 Utility Revenues 1,942,210 67,879,757 21,016,686 Grants Interest 55,000 125,000 600,000 130,988 Other Revenue 3,037,660 1,912,051 1,467,120 20,000 Interfund Transfers - ROI, Etc. 86,161 2,337,767 Total Revenues 6,984,870 76,102,969 35,451,681 16,295,783 USES & EXPENSES: Georgetown Utility Systems 10,833,775 15,729,399 1,878,897 Purchased Power 46,571,808 Transportation 1,342,540 Community Development 264,057 Finance & Administration 8,710,492 Fire Services 2,719,497 Management Services 5,509,479 Community Services Police Services Capital Improvements 3,621,500 11,943,000 18,654,805 Debt Payments 531,186 2,442,341 3,818,514 (3) Debt Service - New 24,000 140,000 175,000 Debt Issuance Costs 90,000 275,000 290,000 Interfund Transfers 156,977 6,502,351 2,409,397 77,808 Total Uses & Expenses 8,485,700 78,708,275 41,077,115 16,440,733 850,461 Ending Fund Balance / 3,552,229 7,823,040 800,898 Working Capital RESERVATIONS: Contingency 300,000 3,525,000 4,120,000 Capital Projects/Other 550,461 3,695,031 800,898 Available Fund Balance/ 27,229 8,009 0 0 Working Capital ENTERPRISE FUNDS PROPRIETARY FUND TYPES General Fund 07/08 08/09 09/10 06/07 07/08 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Fund Balance 7,918,842 8,555,847 9,405,420 9,298,849 6,528,423 REVENUES: Property Taxes 6,746,271 7,429,365 7,599,365 8,174,100 8,359,100 Sales Tax 7,120,422 7,415,000 7,758,979 7,952,870 8,244,000 Sanitation Revenues 4,718,933 4,940,127 Interest 482,941 405,000 390,000 325,000 375,000 Administrative Charges 1,298,845 1,328,351 1,328,351 1,356,398 1,356,398 All Other Revenue 7,358,473 7,941,904 8,093,855 9,287,122 9,311,381 Return on Investment 5,046,024 6,092,549 6,360,290 6,665,813 6,969,363 Transfers In 116,212 380,000 323,171 431,673 435,812 Total Revenues 28,169,188 30,992,169 31,854,011 38,911,909 39,991,181 EXPENSES: Transportation 2,055,745 3,236,940 2,979,174 3,530,234 3,195,239 Community Development 2,477,114 2,623,408 2,518,560 2,522,783 2,653,601 Finance & Administration 368,730 472,560 471,992 530,851 531,901 Fire Department 4,764,593 5,719,136 5,468,483 6,904,618 6,894,501 Management Services 1,937,225 2,335,678 2,336,041 2,482,405 2,373,869 Community Services 4,737,708 5,690,637 5,574,757 7,004,312 6,809,364 Police Department 7,608,846 9,155,229 8,576,844 9,780,491 9,774,514 Georgetown Utility Systems 4,580,383 5,007,498 Administrative Expense 2,029,952 2,372,429 2,261,906 2,361,377 2,361,377 Transfers Out 702,697 2,050,202 1,772,825 1,984,881 8,392 Total Expenses 26,682,610 33,656,219 31,960,582 41,682,335 39,610,256 Ending Fund Balance 9,405,420 5,891,797 9,298,849 6,528,423 6,909,348 RESERVATIONS: Contingency 5,350,000 5,850,000 5,850,000 6,500,000 6,500,000 Available Fund Balance 4,055,420 41,797 3,448,849 28,423 409,348 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. 40 Fiscal Year 2008/09 Revenues Expenditures Significant Issues/Comments: 4 Funds for street capital maintenance total $1,250,000, and represents 3% of the General Fund on-going operating budget. The total General Fund portion of street maintenance is $2.89 million, which includes staff costs, utility costs for street lighting and other maintenance costs. 4 The Environmental Services department was moved into the General Fund from the Sanitation Fund. Due to rising fuel prices, Texas Disposal Services has requested for the 2008/09 contract to include a fuel factor increase. This is a pass-through charge to the users. 4 Transfers fund various one-time equipment purchases, such as, police vehicles, street equipment and computer equipment. Transfers also fund a portion of the Maple Street Realignment project. 4 To address the Council Priority of improved emergency response levels, increased staffing is included in the 2008/09 budget. Funding includes six additional fire personnel to provide added response to the Emergency Service District. 4 An increase in Public Safety compensation, to match 95% of Round Rock’s pay scale is included in the 2008/09 budget. 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. 41 Electric Fund 07/08 08/09 09/10 06/07 07/08 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 5,900,272 5,761,087 4,681,751 6,157,535 3,552,229 REVENUES: Electric Services 42,805,466 56,387,000 57,776,414 67,879,757 62,148,185 Bond Proceeds 6,920,100 5,425,000 1,979,600 6,100,000 5,700,000 Interest 392,402 250,000 125,000 125,000 125,000 All Other Revenue 2,333,952 1,972,689 1,825,689 1,912,051 1,900,101 Transfers In 86,161 86,161 86,161 86,161 86,161 Total Revenues 52,538,081 64,120,850 61,792,864 76,102,969 69,959,447 EXPENSES: Georgetown Utility Systems 7,581,757 8,652,346 8,616,722 10,833,775 10,591,404 Purchased Power 28,307,539 40,752,000 37,923,375 46,571,808 44,374,848 Capital Projects 12,390,506 9,786,334 6,307,000 11,943,000 7,385,000 Debt Payments 1,812,340 2,310,850 2,310,850 2,442,341 2,424,927 Debt Payments - New Debt 339,000 339,000 140,000 61,000 Debt Issuance Costs 268,968 203,000 203,000 275,000 125,000 Transfers Out 3,395,492 4,419,090 4,617,133 6,502,351 5,031,855 Total Expenses 53,756,602 66,462,620 60,317,080 78,708,275 69,994,034 Ending Working Capital 4,681,751 3,419,317 6,157,535 3,552,229 3,517,642 RESERVATIONS: Contingency 3,200,000 3,350,000 3,350,000 3,525,000 3,350,000 Available Working Capital 1,481,751 69,317 2,807,535 27,229 167,642 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. 42 Fiscal Year 2008/09 Revenues Expenditures 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. In 2008/09, the automated meter reading system will be upgraded. 4 Capital projects are funded through operating revenues and debt when necessary. In 2009, $5.84 million of operating revenues and $6.1 million of bond proceeds fund the annual capital projects plan. 4 Transfers out include the 8% return on investment to the General Fund. 4 A total of 10 new positions are included for 2008/09, including a SCADA technician, overhead crews, engineering associate and a utility system operator. 43 Water Services Fund 07/08 08/09 09/10 06/07 07/08 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 17,623,555 16,482,359 18,248,555 13,448,474 7,823,040 REVENUES: Water Services 10,345,351 11,946,060 12,506,559 12,811,966 13,215,041 Wastewater Services 6,939,055 7,162,290 7,568,114 7,946,520 8,237,053 Irrigation Services 207,077 258,200 258,200 258,200 258,200 Bond Proceeds 1,329,900 7,980,000 7,435,400 8,631,000 10,355,000 Impact Fees 882,575 2,110,000 884,375 2,060,875 2,601,285 Service Improvement Fees 2,586,046 1,853,650 1,755,200 1,676,000 710,300 Interest 1,007,449 555,300 545,500 600,000 565,000 All Other Revenue 4,059,614 1,558,200 1,066,734 1,365,000 2,895,000 Transfer In 102,120 102,120 102,120 102,120 Total Revenues 27,357,067 33,525,820 32,122,202 35,451,681 38,938,999 EXPENSES: Georgetown Utility Systems 13,114,251 14,253,981 14,641,114 15,729,399 15,703,966 Capital Projects 8,257,030 22,740,000 16,070,196 18,654,805 15,620,000 Debt Payments 3,390,937 3,339,700 3,339,700 3,818,514 3,762,278 Debt Payments - New Debt 360,000 360,000 175,000 Bond Issue Costs 37,707 215,000 345,742 290,000 410,000 Transfers Out 1,932,142 2,040,333 2,165,531 2,409,397 2,232,384 Total Expenses 26,732,067 42,949,014 36,922,283 41,077,115 37,728,628 Ending Working Capital 18,248,555 7,059,165 13,448,474 7,823,040 9,033,411 RESERVATIONS: Contingency 3,475,000 3,750,000 3,750,000 4,120,000 4,120,000 SIP Reservation/Stranded Fees 2,873,912 3,284,471 3,284,471 3,695,031 3,695,031 Available Working Capital 11,899,643 24,694 6,414,003 8,009 1,218,380 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. Fiscal Year 2008/09 Revenues Expenditures 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 (SIP) 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. In 2009, $18.6 million will be spent in capital improvements, including 2006 Annexation projects, upgrades to Lakewater Clearwell & Southside Plant Upgrades. 4 The City will begin year 7 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. Airport Fund 07/08 08/09 09/10 06/07 07/08 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital (607,549) 247,174 439,406 578,323 696,794 REVENUES: Fuel & Terminal Sales 1,989,990 2,120,780 2,120,780 2,504,180 2,304,180 Leases & Rents 478,828 440,880 454,880 440,880 440,880 Interest 28,111 30,000 30,000 30,000 30,000 Grant 986,196 All Other Revenue 104,559 72,600 80,600 72,600 72,600 Transfers In Total Revenues 3,587,684 2,664,260 2,686,260 3,047,660 2,847,660 EXPENSES: Management Services 2,211,101 2,339,714 2,337,063 2,719,497 2,569,867 Capital Projects 142,673 Debt Payments 186,955 210,280 210,280 209,692 166,130 Total Expenses 2,540,729 2,549,994 2,547,343 2,929,189 2,735,997 Ending Working Capital 439,406 361,440 578,323 696,794 808,457 RESERVATIONS: Contingency 150,000 150,000 150,000 150,000 150,000 Future Capital Improvements 289,406 211,440 428,323 546,794 658,457 Available Working Capital 0 0 0 0 0 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 2008/09 represents a full year of rising fuel costs associated with operating the new airport control tower. 46 Stormwater Drainage Fund 07/08 08/09 09/10 06/07 07/08 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 1,215,110 855,175 912,949 1,772,968 153,667 REVENUES: Stormwater Fees 1,773,131 1,854,800 1,848,558 1,942,210 2,038,570 Bond Proceeds 750,000 750,000 1,950,000 2,100,000 Interest 57,468 20,000 25,000 25,000 25,000 All Other Revenue 20,642 20,000 20,000 20,000 20,000 Total Revenues 1,851,241 2,644,800 2,643,558 3,937,210 4,183,570 EXPENSES: Transportation 980,387 988,388 1,035,180 1,342,540 1,171,259 Capital Projects 780,211 1,761,000 256,500 3,621,500 2,309,500 Debt Payments 248,285 270,375 270,375 321,494 337,061 Bond Issue Costs 1,017 34,000 34,000 90,000 150,000 Debt Service - New Debt 38,000 38,000 24,000 35,000 Transfers Out 143,502 149,984 149,484 156,977 166,285 Total Expenses 2,153,402 3,241,747 1,783,539 5,556,511 4,169,105 Ending Working Capital 912,949 258,228 1,772,968 153,667 168,132 RESERVATIONS: Contingency 150,000 150,000 150,000 150,000 150,000 Available Working Capital 762,949 108,228 1,622,968 3,667 18,132 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 began the 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. 47 General Capital Projects Fund - Summary 2008/2009 07/08 08/09 09/10 06/07 07/08 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 3,421,748 700,255 1,598,784 3,466,573 1,887,570 REVENUES: Service Improvement Fees 26,900 16,800 20,400 15,000 15,000 Bond Proceeds 17,088,617 4,671,337 4,395,000 12,079,000 9,303,000 Interest 606,281 296,300 390,000 296,300 296,300 All Other Revenue 900 Transfers In 1,372,734 1,834,000 1,499,000 1,816,000 Total Revenues 19,095,432 6,818,437 6,304,400 14,206,300 9,614,300 EXPENSES: ISF Equipment 616,800 616,800 New Equipment 755,800 541,600 614,200 Streets CIP 769,441 1,052,500 548,750 1,200,500 General CIP 17,982,448 3,883,975 1,679,316 13,420,603 6,650,000 Debt Issuance Cost 345,663 161,994 121,145 550,000 700,000 Transfers Out 1,820,844 929,000 929,000 1,953,000 Total Expenses 20,918,396 7,400,069 4,436,611 15,785,303 9,303,000 Ending Working Capital 1,598,784 118,623 3,466,573 1,887,570 2,198,870 SIP Reservation 67,200 67,200 67,200 Available Working Capital 1,531,584 51,423 3,399,373 1,887,570 2,198,870 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 City facility renovations (police facility, Georgetown Municipal Complex & fire station #2), land acquisition, and upgrades to the vehicle storage yard. Replacement of fire self contained breathing apparatus (SCBA) is also included. 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. Vehicle and Equipment (Capital Projects Fund): 4 Includes funds for the public safety vehicle replacement program and new public safety equipment. 48 Special Revenue Funds - Summary 2008/09 BEGINNING ENDING FUND FUND FUND DIVISION/SECTION BALANCE REVENUES EXPENDITURES BALANCE Cemetery Fund Community Services 70,524 55,600 126,124 0 Library Donations Community Services 64,100 21,200 85,300 0 Main Street Facade Fund Community Services 25,654 43,920 69,574 0 Parks Restricted Community Services 171,453 81,200 252,653 0 Tourism Fund Community Services 404,259 432,834 474,291 362,802 Courts Finance & Administration 72,216 141,371 213,587 0 FEMA Fund Management Services 0 36,339 36,339 0 Animal Services Fund Police Services 332 30,400 30,732 0 Police Restricted Police Services 45,345 36,500 81,845 0 Street Tax Transportation 1,763,003 1,943,000 3,706,003 0 Total Special Revenue Funds 2,616,886 2,822,364 5,076,448 362,802 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 originally approved by voters in November 2002. Funds may only be spent on existing city streets. The tax was reauthorized by voters in November 2006 and will sunset in March 2011. Projects for 2009 are included in the Capital Improvement Project section of this document. 49 Internal Service Funds - Summary 2008/09 FACILITIES FLEET INFORMATION JOINT INTERNAL MAINTENANCE MANAGEMENT SERVICES SERVICES SERVICES FUND FUND FUND FUND FUND TOTAL Beginning Working Capital 38,286 546,345 47,165 314,082 945,878 REVENUES: Charges for Services 1,835,232 1,568,412 1,851,696 8,415,152 13,670,492 Interest & Other 25,000 23,000 17,500 202,024 267,524 Sale of Property 20,000 20,000 Interfund Transfers 240,300 1,374,000 273,467 450,000 2,337,767 Total Revenues 2,100,532 2,985,412 2,142,663 9,067,176 16,295,783 EXPENSES: Georgetown Utility Systems 1,878,897 1,878,897 Community Development 264,057 264,057 Finance & Administration 2,136,653 2,899,689 3,674,150 8,710,492 Management Services 2,139,978 3,369,501 5,509,479 Interfund Transfers 7,078 5,080 65,650 77,808 Total Expenses 2,136,653 2,906,767 2,145,058 9,252,255 16,440,733 Ending Working Capital 2,165 624,990 44,770 129,003 800,928 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. schedule. Charges for services to each department are made based on predetermined lease fees. Fleet Management Fund: 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. 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: 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. 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: 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 provide support to all City funds and departments. The City’s Economic Development department is included, which is funded by the General Fund and the City’s Electric and Water Service funds. 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 provide support to all City funds and departments. The City’s Economic Development department is included, which is funded by the General Fund and the City’s Electric and Water Service funds. 50