The URL can be used to link to this page

Home My WebLink About04-Financial Summary Financial Summary Financial Summary Table of Contents Summary City Operations by Fund ........................................................................................................... 17 City Operations by Fund / by Division ...................................................................................... 18 Budgeted Revenues ................................................................................................................. 19 Budget Expenses by Division ................................................................................................... 20 Budgeted Expenses by Program.............................................................................................. 21 Revenues Property Taxes ......................................................................................................................... 22 Sales Tax ................................................................................................................................. 25 Utility Revenues........................................................................................................................ 26 Capital Recovery Fees ............................................................................................................. 28 Other Enterprise Fund Revenues ............................................................................................ 29 Other Miscellaneous Revenues ............................................................................................... 31 Fund Summaries All Funds Summary (By Fund / By Division)............................................................................. 32 All Funds Summary (By Fund / By Personnel-Operating-Capital) ........................................... 34 General Fund ........................................................................................................................... 36 Electric Fund ............................................................................................................................ 38 Water Services Fund................................................................................................................ 40 Airport Fund .............................................................................................................................. 42 Stormwater Drainage Fund ...................................................................................................... 43 General Capital Projects Funds ............................................................................................... 44 Special Revenue Funds ........................................................................................................... 45 Internal Service Funds ............................................................................................................. 46 17 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. 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 Automatic Meter Reading Electric Transmission & Distribution Water Distribution Reuse Irrigation Wastewater Collection Airport Operations Stormwater Drainage Facilities Maintenance Joint Services Fleet Management Information Technology F & A Administration Geographic Information Systems Accounting Economic Development GUS Administration Human Resources Fire Inspection Services Streets Housing Police Planning Purchasing Legal Utility Office Main Street Systems Engineering Convention & Visitor's Bureau 18 City Operations by Fund / by Division This matrix represents the City’s operational departments by fund / by division. It is intended to help the budget user understand the City’s organizational structure and its related funding sources. General Fund Special Revenue Funds Electric Fund Water Services Fund Other Enterprise Funds Internal Service Funds Joint Service Fund Community Development Administration Code Enforcement Building Inspections Planning Geographic Information Systems (GIS) Community Services Parks Recreation Library CVB Tourism Finance and Administration Municipal Court Facilities Maintenance Fleet Management Information Technology Administration Accounting Purchasing Utility Office Fire Administration Operations Georgetown Utility Systems Environmental Services Electric Operations Electric T&D SCADA/AMR Water Services Wastewater Services Reuse Irrigation GUS Administration Systems Engineering Management Services City Council City Manager’s Office Governmental Contracts Communications Airport Operations Human Resources Economic Development Main Street Legal Police Administrative Services Support Services Field Operations Animal Services Transportation Administration Streets Stormwater Drainage  Electric Transmission and Distribution  Supervisory Control and Data Acquisition - Automatic Meter Reading (SCADA-AMR) 19 Budgeted Revenues 2009/2010 07/08 Actual 08/09 Amended Budget 08/09 Projected Actual 09/10 Proposed Budget 10/11 Estimated Budget Property Taxes 12,887,677 14,064,100 14,512,190 13,597,157 15,047,870 Sales Taxes 9,570,184 9,835,870 8,849,309 8,999,300 9,453,000 Bond Proceeds 14,560,000 28,760,000 12,675,000 22,240,000 22,714,500 Charges for Services 13,010,661 15,163,426 15,368,126 14,431,227 15,024,312 Capital Recovery Fees 1,138,772 2,060,875 1,222,000 660,746 834,031 Service Improvement Fees 1,924,101 1,691,000 1,088,618 572,400 776,040 Utility Revenue 75,011,361 95,627,586 84,832,327 88,108,061 91,414,882 Grants 156,518 62,839 753,280 42,000 42,000 Interest 2,407,650 1,774,138 1,525,912 1,402,113 1,269,755 Other Revenue 17,173,755 17,480,305 17,789,199 16,075,697 16,610,043 Interfund Transfers 11,971,697 11,523,305 9,212,195 8,096,327 8,673,352 TOTAL REVENUE 159,812,376 198,043,444 167,828,156 174,225,028 181,859,785 *Fund balance (increase or use)(1,280,225) 16,669,167 2,665,015 14,645,007 (522,578) TOTAL BUDGET 158,532,151 214,712,611 170,493,171 189,090,035 181,337,207 20 07/08 Actual 08/09 Amended Budget 08/09 Projected Actual 09/10 Proposed Budget 10/11 Estimated Budget Georgetown Utility Systems 24,615,395 33,199,954 31,724,538 31,667,906 32,649,881 Purchased Power (GUS)38,991,655 46,571,808 37,100,715 38,584,743 40,128,133 Transportation 3,641,872 4,872,774 3,612,088 5,032,057 4,439,610 Community Development 2,633,005 2,786,840 2,464,581 2,352,971 2,721,846 Finance & Administration 6,941,917 11,671,408 8,376,048 9,906,944 9,181,544 Fire Services 5,419,625 6,904,618 6,653,944 7,017,033 7,050,395 Management Services 11,332,014 10,931,693 12,214,682 10,227,799 11,633,943 Community Services 6,245,477 7,911,007 7,805,239 7,910,849 7,379,848 Police Services 8,600,401 9,893,068 9,678,769 9,883,262 10,190,635 Capital Improvements 26,453,703 52,779,513 25,657,629 41,987,545 31,918,000 Debt Payments 13,407,083 15,780,743 15,097,743 16,422,599 15,514,140 Interfund Charges & Transfers 10,250,004 11,409,185 10,107,195 8,096,327 8,529,232 TOTAL BUDGET 158,532,151 214,712,611 170,493,171 189,090,035 181,337,207 Budgeted Expenses by Division 2009/2010 21 Budgeted Expenses by Program 2009/2010 Amended Adopted 2008/09 Budget %2009/10 Budget % Community Development 2,521,740 1.3%2,106,682 1.3% Community Services 6,264,115 3.3%6,383,253 3.8% Fire Services 6,354,383 3.4%6,486,606 3.9% Management Svc-Others 1,397,120 0.7%1,075,041 0.6% Administration 16,210,313 8.6%14,331,666 8.6% Airport 2,569,465 1.4%2,616,228 1.6% Economic Development 439,384 0.2%387,546 0.2% Police Services 9,717,841 5.2%9,645,162 5.8% Electric 53,250,794 28.3%44,165,290 26.5% Sanitation 4,570,724 2.4%4,249,414 2.6% Stormwater Drainage 617,752 0.3%418,119 0.3% Water Services 12,562,654 6.7%12,552,897 7.5% Transportation 3,337,673 1.8%3,777,160 2.3% Capital Improvements 52,779,513 28.0%41,987,545 25.2% Debt Payments 15,780,743 8.4%16,422,599 9.9% Budget Total By Program 188,374,214 100.0%166,605,208 100.0% Interfund Transfers & Premiums 26,338,397 22,484,827 TOTAL OPERATING BUDGET 214,712,611 189,090,035 22 Property Tax Revenue Taxable Property Values 23 Fiscal Year 04/05 05/06 06/07 07/08 08/09 09/10*10/11*11/12*12/13*13/14* Property Tax Revenues: (in thousands) General Fund 5,663 5,638 6,596 7,542 8,103 8,144 8,341 8,299 8,232 8,248 Debt Service 2,708 3,478 4,368 5,288 6,329 5,122 5,264 6,616 7,321 7,446 Property Values: (in millions) Existing Property 2,272 2,507 2,793 3,275 3,895 4,014 3,974 4,073 4,236 4,466 New & Annexed 120 136 267 336 275 156 120 100 100 120 Property Tax Rates Per $100 - taxable 0.346 0.346 0.367 0.357 0.356 0.356 0.388 0.437 0.473 0.447 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 2008/09 was 98.05%. Taxable Valuations:  Over the past 5 years, new residential construction permits have ranged from 750 to 1,500. In 2009 519 permits, valued at over $129 million were issued. The general slowdown in the local economy, which impacted the current year, is also taken into consideration for future projections.  Values on existing property fell 5.3% last year. The average home value is $188,789, which decreased 2.3% compared to the prior year. Overall, total assessed valuation was 1.57% less than prior year.  2009/10 new values include $156 million in new construction and annexed property Adopted Property Tax Rate for 2009/10 is $0.35622/$100 valuation:  Represents a decrease over the effective rate of $0.38871/$100 valuation, which includes a $0.029457 adjustment for sales tax dedicated to property tax relief.  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.  Breakdown: 09/10 08/09 M & O - Maintenance and Operations (General Fund) $0.21140 $0.20053 I & S - Debt Service (payment on existing debt) $0.14482 $0.15569 *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:  Continued new and annexed property growth of $120 million in 2010/11, then $145 million in the out years as new retail properties are added to the tax role, a decrease in existing valuations projected for two years and then gradual increases in later years.  Increases in the actual tax rate related to 2008 voter approved debt.  Reflects impact of 1/8% sales tax for property tax relief.  Reflects an annual increase of 7.5 %– 15% in the properties that have their taxes frozen due to the over 65 provision. 25 Sales Tax Revenue – 1% General Operating 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:  2009/10 includes a 3.5% increase in the overall sales tax base projections from prior year. 2008/09 marked the first decline in sales tax revenue in recent history, with an anticipated 6-7% decline in sales tax revenue due to the decreased building material sales and a general slowdown in retail sales. The economic downturn of 2009 resulted in a decrease in building material sales, as fewer housing starts were begun within the region, as well as, an overall slowdown in retail sales. While sales were less than previous year, Georgetown’s retail activity was much higher than those of surrounding communities.  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 12 to 18 months. 26 Electric Revenue Water Services Revenue – Water *Projected *Projected 27 Water Services Revenue - Wastewater 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:  Calculated on a four-year rolling average of per capita consumption in order to hedge against variations in weather conditions.  Growth estimates are based upon building permits, expected build out of subdivisions and other planning and development activity.  Assumes a 4.5% customer growth for Electric through the next five years, as the City’s southern electric service area continues to develop.  Assumes a 4.5% customer growth for Water for the next five years.  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:  Assumes a 4.5% customer growth over the next five years. (historical average is 5-6%)  Flat rates allocate cost equitability between all system users, and thus eliminates any cross-class subsidies. *Projected 28 Capital Recovery Fee Revenue Fiscal Year 04/05 05/06 06/07 07/08 08/09*09/10*10/11*11/12*12/13*13/14* Service Improvement Fees: Water 1,597 4,113 2,200 1,155 1,036 304 304 304 304 304 Wastewater 671 1,520 564 757 640 203 253 253 253 253 Total (thousands)2,268 5,634 2,764 1,912 1,676 507 557 557 557 557 Impact Fees: Water 544 867 883 806 368 379 390 402 414 426 Wastewater 427 599 585 333 797 499 556 573 591 610 Total (thousands)970 1,466 1,468 1,139 1,165 878 946 975 1,005 1,036 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 2010... *Projected 29 Other Enterprise Fund Revenues Fiscal Year (in thousands)01/02 02/03 03/04 04/05 05/06 06/07 07/08 08/09*09/10*10/11* Stormwater Drainage 885 1,196 1,299 1,539 1,694 1,773 1,816 1,883 1,962 2,024 Airport 1,431 1,451 1,647 2,336 2,596 2,458 3,293 2,945 2,745 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. A rate analysis will be conducted in 2010 to address increasing environmental mandates, including several Environmental Protection Agency (EPA) requirements that become effective in 2010. 31 Miscellaneous Revenues Fiscal Year (in thousands)02/03 03/04 04/05 05/06 06/07 07/08 08/09*09/10*10/11* Interest Income 681 583 1,164 2,470 2,982 2,408 1,526 1,402 1,270 Grant Revenue 160 209 1,207 490 1,024 157 753 42 42 Miscellaneous Revenue 5,071 6,020 7,049 9,556 10,184 9,708 8,839 8,076 8,452 Franchise Fees 1,580 1,845 1,942 2,209 2,083 2,740 2,852 2,920 3,025 Environmental Svcs 2,744 2,888 3,150 3,397 3,689 4,320 4,694 5,063 5,269 Interest Income: Interest income decreased due to the existing economic conditions. 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. The City’s grant funding has diminished in recent years. 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: Environmental Services revenue includes fees collected for curbside garbage pick-up, including recycling and special pick-ups. In 2009, the Sanitation rates were increased by $0.30 for inside the City residential customers and $0.45 for outside the City customers and an average of 3.7% increase for non-residential accounts to reflect increased cost of service, 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. 32 All Funds Summary (By Fund / By Division) (1) Includes Airport, Sanitation, & 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 General General Special Capital Debt Total General Revenue Projects Service Budget Fund Funds Funds Fund Beginning Fund Balances /39,127,341 9,692,833 1,592,905 3,542,555 2,319,478 Working Capital SOURCES & REVENUES: Property taxes 13,597,157 8,392,600 82,270 5,122,287 Sales taxes 8,999,300 7,331,050 1,668,250 Bond Proceeds 22,240,000 5,320,000 Charges for Services 14,431,227 1,098,531 Capital Recovery Fees 660,746 Special Improvement Fees 572,400 15,000 Utility Revenues 88,108,061 5,062,918 Grants 42,000 42,000 Interest 1,402,113 225,000 89,755 150,000 20,000 Other Revenue 16,075,697 8,600,971 735,084 2,000 1,565,562 (2) Interfund Transfers - ROI, Etc.8,096,327 6,708,483 51,883 775,800 Total Revenues 174,225,028 37,419,553 2,669,242 6,262,800 6,707,849 USES & EXPENSES: Georgetown Utility Systems 31,667,906 4,258,308 Purchased Power 38,584,743 Transportation 5,032,057 3,962,706 Community Development 2,352,971 2,106,663 Finance & Administration 9,906,944 536,252 96,948 Fire Services 7,017,033 6,858,978 158,055 Management Services 10,227,799 4,256,622 26,651 Community Services 7,910,849 6,699,236 1,211,613 Police Services 9,883,262 9,669,170 214,092 Capital Improvements 41,987,545 1,795,000 7,744,515 Debt Payments 15,004,499 7,966,275 (2) Debt Service - New 325,000 Debt Issuance Costs 1,093,100 400,000 Interfund Transfers 8,096,327 872,183 75,812 25,000 Total Uses & Expenses 189,090,035 39,220,118 3,578,171 8,169,515 7,966,275 Ending Fund Balance / 24,262,334 7,892,268 683,976 1,635,840 1,061,052 Working Capital RESERVATIONS: Contingency 13,850,000 6,740,000 75,000 Capital Projects/Other 8,833,882 608,976 1,635,840 687,387 Available Fund Balance/1,578,452 1,152,268 0 0 373,665 Working Capital GOVERNMENTAL FUND TYPES 33 All Funds Summary (By Fund / By Division) Other Internal Electric Water Enterprise Service Fund Fund Funds (1)Funds Beginning Fund Balances /5,020,750 12,463,832 2,423,598 2,071,390 Working Capital SOURCES & REVENUES: Property taxes Sales taxes Bond Proceeds 4,350,000 11,370,000 1,200,000 Charges for Services 13,332,696 Capital Recovery Fees 660,746 Special Improvement Fees 557,400 Utility Revenues 58,461,733 22,621,216 1,962,194 Grants Interest 50,000 577,000 51,000 239,358 Other Revenue 1,621,800 681,620 2,836,660 32,000 Interfund Transfers - ROI, Etc.86,161 474,000 Total Revenues 64,569,694 36,467,982 6,049,854 14,078,054 USES & EXPENSES: Georgetown Utility Systems 9,907,260 15,543,018 1,959,320 Purchased Power 38,584,743 Transportation 1,069,351 Community Development 246,308 Finance & Administration 9,273,744 Fire Services Management Services 2,732,746 3,211,780 Community Services Police Services Capital Improvements 10,773,325 18,950,705 2,724,000 Debt Payments 2,786,727 3,757,478 (3)494,019 Debt Service - New 140,000 150,000 35,000 Debt Issuance Costs 126,800 414,800 151,500 Interfund Transfers 4,631,459 2,273,393 218,480 Total Uses & Expenses 66,950,314 41,089,394 7,425,096 14,691,152 Ending Fund Balance / 2,640,130 7,842,420 1,048,356 1,458,292 Working Capital RESERVATIONS: Contingency 2,625,000 4,110,000 300,000 Capital Projects/Other 3,695,031 748,356 1,458,292 Available Fund Balance/15,130 37,389 0 0 Working Capital ENTERPRISE FUNDS PROPRIETARY FUND TYPES 34 All Funds Summary (By Fund / By Personnel-Operating-Capital) (1) Includes Airport, Sanitation, & 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 General General Special Capital Debt Total General Revenue Projects Service Budget Fund Funds Funds Fund Beginning Fund Balances /39,127,341 9,692,833 1,592,905 3,542,555 2,319,478 Working Capital SOURCES & REVENUES: Property taxes 13,597,157 8,392,600 82,270 5,122,287 Sales taxes 8,999,300 7,331,050 1,668,250 Bond Proceeds 22,240,000 5,320,000 Charges for Services 14,431,227 1,098,531 Capital Recovery Fees 660,746 Special Improvement Fees 572,400 15,000 Utility Revenues 88,108,061 5,062,918 Grants 42,000 42,000 Interest 1,402,113 225,000 89,755 150,000 20,000 Other Revenue 16,075,697 8,600,971 735,084 2,000 1,565,562 (2) Interfund Transfers - ROI, Etc.8,096,327 6,708,483 51,883 775,800 Total Revenues 174,225,028 37,419,553 2,669,242 6,262,800 6,707,849 USES & EXPENSES: Personnel 35,030,346 21,945,072 216,219 Operating 82,845,029 14,135,863 689,291 Capital 4,708,189 2,267,000 801,849 Capital Improvements 41,987,545 1,795,000 7,744,515 Debt Payments 15,004,499 7,966,275 (2) Debt Service - New 325,000 Debt Issuance Costs 1,093,100 400,000 Interfund Transfers 8,096,327 872,183 75,812 25,000 Total Uses & Expenses 189,090,035 39,220,118 3,578,171 8,169,515 7,966,275 Ending Fund Balance / 24,262,334 7,892,268 683,976 1,635,840 1,061,052 Working Capital RESERVATIONS: Contingency 13,850,000 6,740,000 75,000 Capital Projects/Other 8,833,882 608,976 1,635,840 687,387 Available Fund Balance/1,578,452 1,152,268 0 0 373,665 Working Capital GOVERNMENTAL FUND TYPES 35 All Funds Summary (By Fund / By Personnel-Operating-Capital) Other Internal Electric Water Enterprise Service Fund Fund Funds (1)Funds Beginning Fund Balances /5,020,750 12,463,832 2,423,598 2,071,390 Working Capital SOURCES & REVENUES: Property taxes Sales taxes Bond Proceeds 4,350,000 11,370,000 1,200,000 Charges for Services 13,332,696 Capital Recovery Fees 660,746 Special Improvement Fees 557,400 Utility Revenues 58,461,733 22,621,216 1,962,194 Grants Interest 50,000 577,000 51,000 239,358 Other Revenue 1,621,800 681,620 2,836,660 32,000 Interfund Transfers - ROI, Etc.86,161 474,000 Total Revenues 64,569,694 36,467,982 6,049,854 14,078,054 USES & EXPENSES: Personnel 2,961,814 1,908,980 506,652 7,491,609 Operating 45,275,189 13,234,038 3,083,045 6,427,603 Capital 255,000 400,000 212,400 771,940 Capital Improvements 10,773,325 18,950,705 2,724,000 Debt Payments 2,786,727 3,757,478 (3)494,019 Debt Service - New 140,000 150,000 35,000 Debt Issuance Costs 126,800 414,800 151,500 Interfund Transfers 4,631,459 2,273,393 218,480 Total Uses & Expenses 66,950,314 41,089,394 7,425,096 14,691,152 Ending Fund Balance / 2,640,130 7,842,420 1,048,356 1,458,292 Working Capital RESERVATIONS: Contingency 2,625,000 4,110,000 300,000 Capital Projects/Other 3,695,031 748,356 1,458,292 Available Fund Balance/15,130 37,389 0 0 Working Capital ENTERPRISE FUNDS PROPRIETARY FUND TYPES 36 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. 08/09 09/10 10/11 07/08 08/09 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Fund Balance 9,405,420 9,298,849 11,184,878 9,692,833 7,892,268 REVENUES: Property Taxes 7,541,644 8,174,100 8,102,822 8,392,600 8,932,600 Sales Tax 7,736,933 7,952,870 7,181,050 7,331,050 7,678,000 Sanitation Revenues 4,718,933 4,693,840 5,062,918 5,269,189 Interest 422,901 400,000 200,000 225,000 250,000 Administrative Charges 1,316,090 1,356,398 1,225,802 1,098,531 1,199,175 All Other Revenue 9,082,017 9,212,122 8,665,475 8,600,971 8,578,107 Return on Investment 6,429,374 6,665,813 6,234,250 6,432,671 6,719,863 Transfers In 257,686 431,673 231,673 275,812 435,812 Total Revenues 32,786,645 38,911,909 36,534,912 37,419,553 39,062,746 EXPENSES: Transportation 2,630,784 3,530,234 1,960,803 3,962,706 3,353,136 Community Development 2,455,532 2,522,783 2,210,377 2,106,663 2,473,165 Finance & Administration 471,778 556,351 538,608 536,252 544,557 Fire Department 5,311,478 6,904,618 6,653,944 6,858,978 6,992,895 Management Services 1,912,169 2,438,905 2,066,249 1,953,101 1,854,097 Community Services 5,634,834 7,004,312 6,822,609 6,699,236 6,823,332 Police Department 8,531,781 9,780,491 9,421,047 9,669,170 10,093,823 Georgetown Utility Systems 4,580,383 4,341,005 4,258,308 4,335,397 Administrative Expense 2,138,406 2,379,377 2,436,610 2,303,521 2,521,220 Transfers Out 2,091,633 1,984,881 1,575,705 872,183 41,896 Total Expenses 31,178,395 41,682,335 38,026,957 39,220,118 39,033,518 Ending Fund Balance 11,013,670 6,528,423 9,692,833 7,892,268 7,921,496 Roll forward Fire SRF Fund Balance 100,555 Roll forward Environmental Svcs Fund Balance 70,653 RESERVATIONS: Contingency 5,850,000 6,955,000 6,500,000 6,740,000 6,740,000 Available Fund Balance 5,334,878 (426,577) 3,192,833 1,152,268 1,181,496 37 Fiscal Year 2009/10 Revenues Significant Issues/Comments:  Funds for street capital maintenance total $1,250,000 of new funding, and represents 3% of the General Fund on-going operating budget. The total General Fund portion of street maintenance is $3.7 million, which includes unspent funding from the 2008/09 budget, staff costs, utility costs for street lighting and other maintenance costs.  The Environmental Services department is funded through garbage rates. A portion of these rates are passed through for contracted services with Texas Disposal Services. The rates for 2009/10 increased $0.30 for inside the City residential customers and $0.45 for outside the City customers to cover the cost of billing, collection and administrative oversight of the contract.  Transfers fund various one-time equipment purchases, such as, the Computer Aided Dispatch upgrade, portion of a Fire vehicle for the Airport and grant matches such as the STEP grant in Police.  An increase in Public Safety compensation, to match 95% of Round Rock’s pay scale is included in the 2009/10 budget.  Contingency Reserves were increased to comply with the City’s Fiscal and Budgetary Policy that requires the City to reserve 90 days of operating expenses to offset any potential revenue shortfall or other unexpected event. Expenditures 38 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. 08/09 09/10 10/11 07/08 08/09 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 5,053,359 6,157,535 355,463 5,020,750 2,640,130 REVENUES: Electric Services 51,833,477 67,879,757 56,506,906 58,461,733 60,800,202 Bond Proceeds 1,977,150 6,100,000 6,100,000 4,350,000 5,720,000 Interest 104,959 125,000 20,000 50,000 50,000 All Other Revenue 2,107,777 1,912,051 2,056,511 1,621,800 2,163,800 Transfers In 86,161 86,161 86,161 86,161 86,161 Total Revenues 56,109,524 76,102,969 64,769,578 64,569,694 68,820,163 EXPENSES: Georgetown Utility Systems 8,928,313 10,833,775 9,781,140 9,907,260 10,551,518 Purchased Power 38,991,655 46,571,808 37,100,715 38,584,743 40,128,133 Capital Projects 6,048,445 11,943,000 4,689,000 9,284,000 9,516,000 Rollforward CIP 1,489,325 Debt Payments 2,234,426 2,440,541 2,440,541 2,786,727 2,758,609 Debt Payments - New Debt 140,000 61,000 140,000 140,000 Debt Issuance Costs 97,974 276,800 276,800 126,800 126,800 Transfers Out 4,506,607 6,502,351 5,755,095 4,631,459 4,870,717 Total Expenses 60,807,420 78,708,275 60,104,291 66,950,314 68,091,777 Ending Working Capital 355,463 3,552,229 5,020,750 2,640,130 3,368,516 RESERVATIONS: Contingency 3,350,000 3,525,000 3,525,000 2,625,000 3,350,000 Available Working Capital (2,994,537)27,229 1,495,750 15,130 18,516 39 Fiscal Year 2009/10 Revenues Significant Issues/Comments:  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.  The Electric and Water Services funds share the maintenance of the City’s automated meter reading system. Currently a project is underway to upgrade this to new automated metering infrastructure (AMI) that will provide added services for City utility customer. Funds have been included in the 2009/10 budget for this project.  Capital projects are funded through operating revenues and debt when necessary. In 2010, $6.4 million of operating revenues and $4.4 million of bond proceeds fund the annual capital projects plan.  Transfers out include the 8% return on investment to the General Fund. Expenditures 40 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. 08/09 09/10 10/11 07/08 08/09 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 18,955,165 13,448,474 21,917,236 12,463,832 7,842,420 REVENUES: Water Services 13,602,151 12,811,966 13,757,785 14,303,297 14,758,000 Wastewater Services 7,360,455 8,016,520 7,581,074 7,889,919 8,118,000 Irrigation Services 399,556 258,200 411,048 428,000 445,000 Bond Proceeds 7,437,850 8,631,000 11,370,000 8,030,000 Impact Fees 1,138,772 2,060,875 1,222,000 660,746 834,031 Service Improvement Fees 1,912,051 1,676,000 1,073,618 557,400 761,040 Interest 827,521 600,000 656,000 577,000 577,000 All Other Revenue 1,074,041 1,295,000 770,596 579,500 643,825 Transfer In 102,119 102,120 102,120 102,120 102,120 Total Revenues 33,854,516 35,451,681 25,574,241 36,467,982 34,269,016 EXPENSES: Georgetown Utility Systems 14,102,439 15,904,399 15,767,107 15,543,018 15,734,692 Capital Projects 10,937,432 18,479,805 12,798,328 18,950,705 12,107,000 Debt Payments 3,184,033 3,813,714 3,813,714 3,757,478 3,435,076 Debt Payments - New Debt 178,578 175,000 175,000 150,000 150,000 Bond Issue Costs 130,742 294,800 204,800 414,800 414,800 Transfers Out 2,359,221 2,409,397 2,268,696 2,273,393 2,446,347 Total Expenses 30,892,445 41,077,115 35,027,645 41,089,394 34,287,915 Ending Working Capital 21,917,236 7,823,040 12,463,832 7,842,420 7,823,521 RESERVATIONS: Contingency 3,750,000 4,100,000 4,100,000 4,110,000 4,120,000 SIP Reservation/Stranded Fees 3,284,471 3,695,031 3,695,031 3,695,031 3,695,031 Available Working Capital 14,882,765 28,009 4,668,801 37,389 8,490 41 Fiscal Year 2009/10 Revenues Significant Issues/Comments:  The City’s water supply is provided through agreements with the Brazos River Authority (BRA). BRA expenses increase 15% over the prior year, due to an increase in raw water cost, as well as, principal and interest payments and operational cost for the Williamson County Raw Water Line. Future raw water increases are projected at 15% per year.  Service Improvement Fees (SIP) which represents payments by developers for City funded infrastructure improvements are reserved to fund future payments on debt issued.  Capital projects are funded through operating revenues, impact fees and debt when necessary. In 2009, $19 million will be spent in capital improvements, including the projects related to the 2006 Annexations, upgrades to Lakewater Clearwell Plant Upgrades.  The City will begin the final year 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. Expenditures 42 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: Excess funds are reserved for future capital maintenance, grant match or other airport related assets. 08/09 09/10 10/11 07/08 08/09 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 18,955,165 13,448,474 21,917,236 12,463,832 7,842,420 REVENUES: Water Services 13,602,151 12,811,966 13,757,785 14,303,297 14,758,000 Wastewater Services 7,360,455 8,016,520 7,581,074 7,889,919 8,118,000 Irrigation Services 399,556 258,200 411,048 428,000 445,000 Bond Proceeds 7,437,850 8,631,000 11,370,000 8,030,000 Impact Fees 1,138,772 2,060,875 1,222,000 660,746 834,031 Service Improvement Fees 1,912,051 1,676,000 1,073,618 557,400 761,040 Interest 827,521 600,000 656,000 577,000 577,000 All Other Revenue 1,074,041 1,295,000 770,596 579,500 643,825 Transfer In 102,119 102,120 102,120 102,120 102,120 Total Revenues 33,854,516 35,451,681 25,574,241 36,467,982 34,269,016 EXPENSES: Georgetown Utility Systems 14,102,439 15,904,399 15,767,107 15,543,018 15,734,692 Capital Projects 10,937,432 18,479,805 12,798,328 18,950,705 12,107,000 Debt Payments 3,184,033 3,813,714 3,813,714 3,757,478 3,435,076 Debt Payments - New Debt 178,578 175,000 175,000 150,000 150,000 Bond Issue Costs 130,742 294,800 204,800 414,800 414,800 Transfers Out 2,359,221 2,409,397 2,268,696 2,273,393 2,446,347 Total Expenses 30,892,445 41,077,115 35,027,645 41,089,394 34,287,915 Ending Working Capital 21,917,236 7,823,040 12,463,832 7,842,420 7,823,521 RESERVATIONS: Contingency 3,750,000 4,100,000 4,100,000 4,110,000 4,120,000 SIP Reservation/Stranded Fees 3,284,471 3,695,031 3,695,031 3,695,031 3,695,031 Available Working Capital 14,882,765 28,009 4,668,801 37,389 8,490 43 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:  Stormwater rates are $4.25 per unit cost which provides operational and capital costs for drainage maintenance and improvements.  City engineers began the Regional Stormwater Drainage Master Plan (RSMP), which outlines future capital improvements that are needed to improve drainage in the City.  Operating costs continue to increase due to the increase in the number of detention ponds within the city. 08/09 09/10 10/11 07/08 08/09 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 888,187 1,772,968 1,866,164 1,581,347 336,254 REVENUES: Stormwater Fees 1,815,722 1,942,210 1,881,674 1,962,194 2,024,491 Bond Proceeds 750,000 1,950,000 1,200,000 900,000 Interest 40,082 25,000 32,000 35,000 35,000 All Other Revenue 16,443 20,000 19,812 25,000 25,000 Total Revenues 2,622,247 3,937,210 1,933,486 3,222,194 2,984,491 EXPENSES: Transportation 1,011,088 1,342,540 1,103,189 1,069,351 1,086,474 Capital Projects 198,870 3,621,500 641,500 1,883,000 1,381,000 Rollforward CIP 841,000 Debt Payments 269,434 319,994 319,994 328,456 336,902 Bond Issue Costs 13,752 91,500 1,500 151,500 151,500 Debt Service - New Debt 24,000 35,000 35,000 Transfers Out 151,126 156,977 152,120 158,980 163,960 Total Expenses 1,644,270 5,556,511 2,218,303 4,467,287 3,154,836 Ending Working Capital 1,866,164 153,667 1,581,347 336,254 165,909 RESERVATIONS: Contingency 150,000 150,000 150,000 150,000 150,000 Available Working Capital 1,716,164 3,667 1,431,347 186,254 15,909 44 General Capital Projects Fund – Summary 2009/10 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:  Includes funds for renovations at the Georgetown Municipal Complex, land acquisition for a future fire station, and bond funding to widen Williams Drive and DB Wood/improve the Williams Drive intersection. Streets Capital Projects Fund:  Includes projects recently approved in the November 2008 bond authorization. Voters approved $41.5M of transportation projects to be funded through General Obligation bonds to be issued over the next 10+ years. 08/09 09/10 10/11 07/08 08/09 PROJECTED ADOPTED ESTIMATED ACTUAL BUDGET ACTUAL BUDGET BUDGET Beginning Working Capital 1,598,784 3,466,573 (37,544)3,542,555 1,635,840 REVENUES: Service Improvement Fees 12,050 15,000 15,000 15,000 15,000 Bond Proceeds 4,395,000 12,079,000 6,575,000 5,320,000 8,064,500 Interest 529,294 296,300 152,000 152,000 152,000 All Other Revenue 274,909 186,086 Transfers In 1,762,632 1,816,000 1,180,900 775,800 Total Revenues 6,973,885 14,206,300 8,108,986 6,262,800 8,231,500 EXPENSES: ISF Equipment 515,234 New Equipment 580,920 614,200 303,000 25,200 Streets CIP 1,055,188 1,200,500 2,624,585 3,437,315 3,050,000 General CIP 5,364,194 13,420,603 1,451,302 2,832,685 4,084,000 Rollforward CIP 1,449,315 Debt Issuance Cost 85,736 550,000 150,000 400,000 400,000 Transfers Out 1,008,941 25,000 930,500 Total Expenses 8,610,213 15,785,303 4,528,887 8,169,515 8,464,500 Ending Working Capital (37,544)1,887,570 3,542,555 1,635,840 1,402,840 SIP Reservation 67,200 67,200 67,200 67,200 67,200 Available Working Capital (104,744)1,820,370 3,475,355 1,568,640 1,335,640 45 Special Revenue Funds – Summary 2009/10 Fund Description: Special revenue funds (SRF’s) are used to account for specific revenues that are legally restricted for expenditures for particular purposes. The City uses these funds to track revenues and expenditures for: • Grants • Donations • Hotel Occupancy Tax (HOT) • Police seizures • Parkland dedication fees • Street Maintenance Sales Tax Significant Issues/Comments:  These funds vary significantly with the level of donation and grant activity for each year.  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. BEGINNING ENDING FUND FUND FUND DIVISION/SECTION BALANCE REVENUES EXPENDITURES BALANCE Cemetery Fund Community Services 6,036 69,352 75,388 0 Library Donations Community Services 14,642 21,200 35,842 0 Main Street Facade Fund Community Services 11,051 15,600 26,651 0 Parks Restricted Community Services 625,261 86,200 711,461 0 Tourism Fund Community Services 383,041 395,834 424,734 354,141 Courts Finance & Administration 10,229 126,719 136,948 0 Fire Fund Management Services 100,555 57,500 158,055 0 Downtown TIF Fund Management Services 186,805 83,270 270,075 Rivery TIRZ Fund Management Services 18,505 18,505 37,010 Gateway TIRZ Fund Management Services 1,830 1,830 Animal Services Fund Police Services 41,345 30,400 71,745 0 Police Restricted Police Services 75,935 66,412 142,347 0 Street Tax Transportation 128,567 1,698,250 1,795,000 31,817 Total Special Revenue Funds 1,603,802 2,669,242 3,578,171 694,873 46 Internal Service Funds – Summary 2009/10 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 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. FACILITIES FLEET INFORMATION JOINT INTERNAL MAINTENANCE MANAGEMENT SERVICES SERVICES SERVICES FUND FUND FUND FUND FUND TOTAL Beginning Working Capital 67,593 931,354 382,838 689,605 2,071,390 REVENUES: Charges for Services 1,793,920 1,566,602 1,674,993 8,297,181 13,332,696 Interest & Other 25,000 23,000 17,500 173,858 239,358 Sale of Property 20,000 20,000 Interfund Transfers 174,000 312,000 486,000 Total Revenues 1,818,920 1,783,602 1,692,493 8,783,039 14,078,054 EXPENSES: Georgetown Utility Systems 1,959,320 1,959,320 Community Development 246,308 246,308 Finance & Administration 1,852,438 1,458,119 2,056,291 3,906,896 9,273,744 Management Services 3,211,780 3,211,780 Total Expenses 1,852,438 1,458,119 2,056,291 9,324,304 14,691,152 Ending Working Capital 34,075 1,256,837 19,040 148,340 1,458,292 CIP/Other 34,075 1,256,837 19,040 148,340 1,458,292 Available Working Capital 0 0 0 0 0