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Financial
Summary
Financial Summary Table of Contents
Summary
City Operations and Departments by Fund .............................................................................. 21
City Operations and Departments by Fund / by Division .......................................................... 22
Budgeted Revenues ................................................................................................................. 23
Budget Expenses by Division ................................................................................................... 24
Budgeted Expenses by Program .............................................................................................. 25
Revenues
Property Taxes ......................................................................................................................... 26
Sales Tax ................................................................................................................................. 29
Utility Revenues ....................................................................................................................... 30
Capital Recovery Fees ............................................................................................................. 32
Other Enterprise Fund Revenues ............................................................................................. 33
Other Miscellaneous Revenues ............................................................................................... 35
Fund Summaries
All Funds Summary (By Fund / By Division) ............................................................................ 36
All Funds Summary (By Fund / By Personnel-Operating-Capital) ........................................... 38
General Fund ........................................................................................................................... 40
Electric Fund ............................................................................................................................ 42
Water Services Fund ................................................................................................................ 44
Airport Fund .............................................................................................................................. 46
Stormwater Drainage Fund ...................................................................................................... 47
General Capital Projects Funds ............................................................................................... 48
Special Revenue Funds ........................................................................................................... 49
Internal Service Funds ............................................................................................................. 50
21
City Operations and Departments 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.
22
City Operations and Departments 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
Community
Services
Parks
Recreation
Library
CVB
Tourism
Finance and
Administration
Municipal Court Facilities
Maintenance
Fleet
Management
Information
Technology
Administration
Accounting
Purchasing
Utility Office
Geographic
Information
Systems
(GIS)
Fire
Administration
Operations
Georgetown
Utility Systems
(GUS)
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)
Convention and Visitor’s Bureau
23
08/09 Actual
09/10
Amended
Budget
09/10
Projected
Actual
10/11
Proposed
Budget
11/12
Estimated
Budget
Property Taxes 14,455,418 13,615,662 14,377,375 14,680,227 16,365,227
Sales Taxes 9,065,366 8,999,300 9,740,000 9,470,000 9,656,850
Bond Proceeds 12,525,000 22,240,000 18,012,351 17,455,500 3,140,000
Charges for Services 14,721,535 14,431,227 14,415,827 15,848,774 16,124,490
Capital Recovery Fees 1,294,068 660,746 1,019,488 1,130,332 1,317,325
Service Improvement Fees 1,602,860 572,400 512,200 634,250 634,250
Utility Revenue 84,832,790 88,148,061 87,838,649 92,196,806 94,836,517
Grants 1,879,995 42,000 1,224,370 472,179 433,549
Interest 1,369,381 1,217,650 355,835 399,855 389,755
Other Revenue 14,568,606 16,192,655 16,036,785 16,673,184 15,065,364
Interfund Transfers 11,588,882 8,213,277 8,486,280 7,989,705 9,841,616
TOTAL REVENUE 167,903,901 174,332,978 172,019,160 176,950,812 167,804,943
*Fund balance (increase or use)(5,519,631) 16,704,204 7,121,083 10,099,140 4,639,089
TOTAL BUDGET 162,384,270 191,037,182 179,140,243 187,049,952 172,444,032
Budgeted Revenues
2010/11
24
08/09
Actual
09/10
Amended
Budget
09/10
Projected
Actual
10/11
Proposed
Budget
11/12
Estimated
Budget
Georgetown Utility Systems 30,108,808 31,783,056 31,546,024 35,869,789 34,857,738
Purchased Power (GUS)33,804,336 38,584,743 35,198,927 37,500,760 43,297,221
Transportation 3,351,791 4,693,039 5,337,160 4,261,883 4,263,779
Community Development 2,434,578 2,384,371 2,323,990 2,186,883 2,186,883
Finance & Administration 8,174,718 9,858,694 10,094,219 12,636,471 12,571,333
Fire Services 6,581,195 7,021,933 6,994,157 7,755,589 7,683,937
Management Services 11,238,426 9,953,949 9,872,822 9,497,858 9,506,295
Community Services 7,410,414 7,958,099 7,916,139 8,166,035 7,774,537
Police Services 9,514,823 9,883,262 9,811,120 10,233,318 10,261,878
Capital Improvements 25,721,077 44,280,160 35,956,770 34,086,000 15,814,000
Debt Payments 13,921,734 16,422,599 15,250,279 16,865,661 16,171,219
Interfund Charges & Transfers 10,122,370 8,213,277 8,838,636 7,989,705 8,055,212
TOTAL BUDGET 162,384,270 191,037,182 179,140,243 187,049,952 172,444,032
Budgeted Expenses by Division
2010/11
25
Amended Adopted
2009/10 Budget %2010/11 Budget %
Community Development 2,138,082 1.3%1,932,725 1.2%
Community Services 6,430,103 3.8%6,391,680 3.9%
Fire Services 6,491,506 3.9%7,184,174 4.4%
Management Svc-Others 1,106,991 0.7%1,193,610 0.7%
Administration 13,951,016 8.3%16,607,912 10.2%
Airport 2,675,028 1.6%2,227,150 1.4%
Economic Development 387,946 0.2%399,038 0.2%
Police Services 9,639,112 5.7%9,929,860 6.1%
Electric 44,168,490 26.2%45,214,610 27.7%
Sanitation 4,250,414 2.5%4,243,502 2.6%
Stormwater Drainage 418,119 0.2%457,832 0.3%
Water Services 12,637,697 7.5%13,673,078 8.4%
Transportation 3,438,142 2.0%2,872,083 1.8%
Capital Improvements 44,280,160 26.3%34,086,000 20.9%
Debt Payments 16,422,599 9.8%16,865,661 10.3%
Budget Total By Program 168,435,405 100.0%163,278,915 100.0%
Interfund Transfers & Premiums 22,601,777 23,771,037
TOTAL OPERATING BUDGET 191,037,182 187,049,952
Budgeted Expenses by Program
2010/11
26
Property Tax Revenue
Taxable Property Values
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 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 2009/10 was 98.41%.
Taxable Valuations:
4 Over the past 5 years, new residential construction permits have ranged from 750 to 1,500. In 2010
550permits, valued at over $137million were issued. The general slowdown in the local economy, which
impacted the current year, is also taken into consideration for future projections.
4 Values on existing property fell 0.004% last year. The average home value is $184,886, which decreased
1.97% compared to the prior year. Overall, total assessed valuation approximately the same as the previous
year due to $99 million of new or annexed property added to the roll.
4 2010/11 new values include $99 million in new construction and annexed property
Adopted Property Tax Rate for 2010/11 is $0.35622/$100 valuation:
4 Represents a decrease over the effective rate of $0.379549/$100 valuation, which includes a $0.0294
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 $0.03731.
4 Breakdown: 10/11 09/10
M & O - Maintenance and Operations (General Fund) $0.21987 $0.21140
I & S - Debt Service (payment on existing debt) $0.13635 $0.14482
*Future Projections:
Assumptions for the forecasts of future years are based upon historical trends, expected build out of planned
subdivisions, and utility tap requests. Assumptions include:
4 Continued new and annexed property growth of $100 million in 2011/12, then $125 to $150 million in the out
years as new retail properties are added to the tax role, a 1% increase in 2011/12 and then 1.25 – 1.5% in
the later years.
4 Reflects impact of 1/8% sales tax for property tax relief.
4 Reflects an annual increase of 2.5 %– 5% in the properties that have their taxes frozen due to the over 65
provision.
Fiscal Year 05/06 06/07 07/08 08/09 09/10 10/11* 11/12*12/13* 13/14* 14/15*
Property Tax Revenues:
(in thousands)
General Fund 5,638 6,596 7,542 8,103 8,422 8,492 8,996 9,405 9,849 10,258
Debt Service 3,478 4,368 5,288 6,329 5,766 5,567 6,391 6,771 6,956 7,252
Property Values:
(in millions)
Existing Property 2,507 2,793 3,275 3,895 4,014 4,023 4,163 4,351 4,577 4,819
New & Annexed 136 267 336 275 156 104 100 125 150 150
Property
Tax Rates
Per $100 - taxable 0.346 0.367 0.357 0.356 0.356 0.356 0.383 0.384 0.375 0.367
valuation
*Projected
29
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:
4 2010/11 includes a 2% increase in the overall sales tax base projections from prior year. Sales tax revenue
rebounded at the end of 2009/10 and collections will be 6% higher than originally budgeted. Collection rates are
close to the amount of revenue collected in 2007/08 before the economic downturn of 2009. This is attributed to
building material sales for the surrounding area.
4 Long term projections assume a modest recovery from the economic decline of the prior two years. These conditions
are expected to last 12 to 18 months.
30
Electric Revenue
Water Services Revenue – Water
*Projected
*Projected
31
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:
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 3% customer growth for Electric through the next five years, as the City’s southern
electric service area continues to develop.
4 Assumes a 1-2% customer growth for Water for the next five years.
4 The City will conduct rate reviews during 2010/11 to ensure the rates adequately cover the costs of
the systems.
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 1-2% customer growth over the next five years. (historical average is 5-6%)
4 Flat rates allocate cost equitability between all system users, and thus eliminates any cross-class
subsidies.
4 Rates have not been adjusted since implementation in 2007, therefore will be reviewed during
2010/11.
*Projected
32
Capital Recovery Fee Revenue
Fiscal Year 05/06 06/07 07/08 08/09 09/10 10/11* 11/12* 12/13* 13/14* 14/15*
Service Improvement Fees:
Water 4,113 2,200 1,155 899 311 381 381 381 381 381
Wastewater 1,520 564 757 986 203 254 254 254 254 254
Total (thousands) 5,634 2,764 1,912 1,886 514 634 634 634 634 634
Impact Fees:
Water 867 883 806 882 826 917 945 1,011 1,117 1,151
Wastewater 599 585 333 412 194 213 243 251 258 266
Total (thousands) 1,466 1,468 1,139 1,294 1,019 1,130 1,188 1,262 1,375 1,417
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 are currently under review, but
expected to remain stable in 2011.
*Projected
33
Other Enterprise Fund Revenues
Fiscal Year (in thousands)02/03 03/04 04/05 05/06 06/07 07/08 08/09 09/10 10/11* 11/12*
Stormwater Drainage 1,196 1,299 1,539 1,694 1,773 1,816 1,883 1,933 1,995 2,058
Airport 1,451 1,647 2,336 2,596 2,458 3,293 2,221 2,345 2,660 2,760
Airport Revenue:
Airport revenue consists primarily of fuel sales, T-hangar rentals and tie-down fees. The increase in
2007/08 was due to the higher cost of fuel for that time frame compared to other years. The Airport
continues to be self-supporting and is projected to be able to sustain operations at the current level of
service into the foreseeable future.
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 2011 to
evaluate the current commercial and residential calculations for impervious cover, which has not been
reviewed since the fee was established in 1995. The stormwater drainage fee has not been adjusted
since November 2004. The cost of maintenance of detention ponds continues to increase, and other
environmental mandates are expected to be forthcoming, which may impact rates.
35
Miscellaneous Revenues
Fiscal Year (in thousands)03/04 04/05 05/06 06/07 07/08 08/09 09/10* 10/11* 11/12*
Interest Income 583 1,164 2,470 2,982 2,408 1,369 356 400 390
Grant Revenue 209 1,207 490 1,024 157 1,880 1,224 472 434
Miscellaneous Revenue 6,020 7,049 9,556 10,184 9,708 8,452 7,827 7,676 7,658
Franchise Fees 1,845 1,942 2,209 2,083 2,740 2,802 2,880 3,829 3,910
Environmental Svcs 2,888 3,150 3,397 3,689 4,320 4,583 4,812 4,864 4,983
Interest Income:
Interest income continues to decrease due to the existing economic conditions that have resulted in lower yields
for all investments. 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 prior to submission.
The City budgets for grants that have been approved and awarded by the granting agency. The City received a
grant in 2009/10 from U.S. Department of Homeland Security to fund nine additional firefighters.
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. The City has elected to change the City franchise fee rate to 3% from the previous 2%. This
change was made due to anticipated legislation impacting deregulation of the electric industry.
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. The City will begin the process to bid and negotiate the contract for solid waste and
recycling services in 2010/11. Final selection and implementation of the new contract is set for July 2012.
40
General Fund
Fund Description:
The General Fund is used to account for resources traditionally associated with government which are not required
legally or by sound financial management to be accounted for in another fund.
09/10 10/11 11/12
08/09 09/10 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Fund Balance 10,643,614 9,279,915 9,179,494 7,747,873 6,854,451
REVENUES:
Property Taxes 8,195,857 8,392,600 8,511,100 8,957,957 9,597,957
Sales Tax 7,326,513 7,331,050 7,510,000 7,655,000 7,805,550
Sanitation Revenue 4,582,794 5,102,918 4,811,875 4,864,034 4,983,183
Interest 185,292 225,000 60,000 60,000 60,000
Administrative Charges 1,117,390 1,098,531 1,052,003 1,101,459 1,101,459
All Other Revenue 8,684,616 8,560,971 8,178,572 9,090,436 9,207,107
Return on Investment 6,152,387 6,432,671 6,750,935 6,242,401 6,418,396
Transfers In 173,779 275,812 200,752 160,812 60,812
Total Revenues 36,418,628 37,419,553 37,075,237 38,132,099 39,234,464
EXPENSES:
Community Development 2,181,930 2,129,263 2,068,537 2,186,883 2,186,883
Community Services 6,693,100 6,746,086 6,763,046 7,170,254 7,168,804
Finance & Administration 516,264 539,052 534,911 565,780 565,780
Fire Department 6,581,165 6,863,878 6,788,181 7,120,969 7,192,888
Georgetown Utility Systems 4,196,337 4,259,308 4,110,148 4,254,820 4,353,820
Management Services 1,957,320 1,698,201 1,937,225 2,040,237 2,015,446
Police Department 9,395,400 9,669,170 9,571,324 10,125,612 10,222,978
Transportation 2,309,171 3,623,688 3,407,641 3,078,770 3,078,770
Administrative Expense 2,314,346 2,303,521 2,368,184 2,414,447 2,414,447
Transfers Out 1,737,715 975,033 957,661 67,749 43,896
Total Expenses 37,882,748 38,807,200 38,506,858 39,025,521 39,243,712
Ending Fund Balance 9,179,494 7,892,268 7,747,873 6,854,451 6,845,203
RESERVATIONS:
Contingency 6,500,000 6,740,000 6,740,000 6,847,000 6,845,000
Available Fund Balance 2,679,494 1,152,268 1,007,873 7,451 203
41
Fiscal Year 2010/11
Revenues
Significant Issues/Comments:
4 The General Fund is within Fiscal & Budgetary
compliance by having an operating budget balanced
with sustainable funding sources.
4 Funds for street capital maintenance total $1,250,000
of new funding, and represents 3% of the General
Fund on-going operating budget.
4 The Environmental Services department is funded
through garbage rates. A portion of these rates are
passed through for contracted services with Texas
Disposal Services.
4 There are currently 16.5 frozen positions that are not
funded in the General Fund for 2010/11. The Council
did approve the funding of 2.5 positions at the
Recreation Center and Animal Services to address
operational concerns.
4 Public Safety step pay increases are included along
with a 2.5% cost of living adjustment for non-public
safety employees.
4 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
42
Electric Fund
09/10 10/11 11/12
08/09 09/10 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 355,463 5,020,750 8,822,616 14,430,653 13,220,965
REVENUES:
Electric Services 56,154,879 58,461,733 60,291,143 62,990,014 64,841,356
Bond Proceeds 5,950,000 4,350,000 3,035,000
Interest 14,748 50,000 50,000 50,000 50,000
All Other Revenue 2,146,982 1,621,800 1,825,718 1,513,584 1,516,207
Transfers In 86,161 89,361 89,361
Total Revenues 64,352,770 64,572,894 65,291,222 64,553,598 66,407,563
EXPENSES:
Georgetown Utility Systems 9,554,968 9,910,460 9,885,967 12,169,428 11,655,452
Purchased Power 33,804,336 38,584,743 35,198,927 37,500,760 43,297,221
Capital Projects 4,861,493 10,773,325 6,710,000 8,194,000 5,974,000
Debt Payments 2,411,388 2,786,727 2,786,727 3,108,796 3,117,398
Debt Payments - New Debt 140,000
Debt Issuance Costs 11,357 126,800 71,800 1,800 1,800
Transfers Out 5,597,952 4,631,459 5,029,764 4,788,502 4,689,571
Total Expenses 56,241,494 66,953,514 59,683,185 65,763,286 68,735,442
Ending Working Capital 8,466,739 2,640,130 14,430,653 13,220,965 10,893,086
RESERVATIONS:
Contingency 3,525,000 2,625,000 2,625,000 3,262,000 3,262,000
Other 355,877 5,000,000 5,000,000
Available Working Capital 5,297,616 15,130 11,805,653 4,958,965 2,631,086
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.
43
Fiscal Year 2010/11
Revenues
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. A new vendor was selected in 2009/10 and
the implementation will take place in 2010/11. Funds
have been included to upgrade the Customer
Information System and Financial Information System
to compliment the automated meter reading system.
4 Capital projects are funded through operating
revenues and debt when necessary. In 2011, $8.2
million of operating revenues fund the annual capital
projects plan.
4 Transfers out include the 7% return on investment to
the General Fund. The fund also includes a 3%
franchise fee payment to the General fund, which
constitutes a payment for the continuing use of public
property and right of ways.
4 A rate stabilization reserve has been established to
mitigate future rate fluctuations.
Expenditures
44
Water Services Fund
09/10 10/11 11/12
08/09 09/10 PROJECTED ADOPTED ESTIMATED
ACTUAL BUDGET ACTUAL BUDGET BUDGET
Beginning Working Capital 21,917,236 14,278,082 17,064,782 11,619,282 6,657,845
REVENUES:
Water Services 14,171,479 14,303,297 12,814,605 14,028,136 14,407,835
Wastewater Services 7,649,538 7,889,919 7,727,648 7,919,250 8,115,281
Irrigation Services 379,751 428,000 260,000 400,865 431,175
Bond Proceeds 11,370,000 10,120,000
Impact Fees 1,294,068 660,746 1,019,488 1,130,332 1,317,325
Service Improvement Fees 1,499,170 557,400 507,400 634,250 634,250
Interest 578,435 577,000 89,733 104,100 104,100
All Other Revenue 344,260 579,500 969,289 717,390 762,979
Transfer In 100,200 186,920 186,920 170,508 170,508
Total Revenues 26,016,901 36,552,782 33,695,083 25,104,831 25,943,453
EXPENSES:
Georgetown Utility Systems 14,527,251 15,627,818 15,517,563 16,969,133 16,523,785
Capital Projects 10,237,046 20,764,955 17,595,000 7,265,000 5,837,000
Debt Payments 3,813,714 3,757,478 3,757,478 4,115,540 4,107,833
Debt Payments - New Debt 150,000
Bond Issue Costs 5,405 414,800 199,480 4,800 4,800
Transfers Out 2,285,939 2,273,393 2,071,062 1,711,795 1,652,495
Total Expenses 30,869,355 42,988,444 39,140,583 30,066,268 28,125,913
Ending Working Capital 17,064,782 7,842,420 11,619,282 6,657,845 4,475,385
RESERVATIONS:
Contingency 4,100,000 4,110,000 4,110,000 4,266,000 4,266,000
SIP Reservation/Stranded Fees 3,695,031 3,695,031 3,695,031
Available Working Capital 9,269,751 37,389 3,814,251 2,391,845 209,385
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.
45
Fiscal Year 2010/11
Revenues
Significant Issues/Comments:
4 The City’s water supply is provided through
agreements with the Brazos River Authority (BRA).
BRA expenses increased 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.
4 The Service Improvement Fees Reservation (SIP) was
used to fund the Lake Water Treatment Plant
expansion in 2010.
4 Capital projects are funded through operating
revenues, impact fees and debt when necessary. In
2010/11, $7.3 million will be spent in capital
improvements, including the projects related to the
2006 Annexations and area identified by prior year
testing related to the Edwards Aquifer Recharge Zone
(EARZ).
4 The City will complete the work identified in 2009/10
on wastewater lines for inflow and infiltrations as
required by the Texas Commission on Environmental
Quality (TCEQ) for environmental safety for 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