HomeMy WebLinkAboutQuarterlyReport_2009-06-30
Financial Report and Investment Report
for Quarter Ended June 30, 2009
FFAASSTT FFAACCTTSS
Month Ended 6/30/09
o
GENERAL FUND:
Revenue: $22.5 million or 76% YTD of current projections
(net of sanitation)
o Positive variances from budgeted projections
Property tax revenues up 10% - levy certified higher
than anticipated on protested properties
Franchise fees up 3% - growth and Atmos increase
Recreation revenue up 38% - due to membership
growth; 14,202 YTD compared to 4,117 last year
o Negative variances
Sales tax down from prior year by 9.6% through May
Development and building fees – down over 28% from
prior year
Court Fines down 13% from prior year
Expense: End of year projections have been finalized to
prepare for the City Manager’s upcoming budget
proposal. Savings include $2.2 million from original
budgets due to freezing open positions and
discretionary costs
ESTIMATED unallocated and unobligated Fund Balance
(excess funds) = $2.4 million
o Total excess funds from previous years = $2.06 million
o Less authorized commitments:
Sanitation fuel adjustment $156K
UTILITY FUNDS:
Revenues continue to be monitored closely to account
for weather variances
o Electric service revenues will continue to increase
over the summer – mthly peak 123,000 kWh
o Water service revenue up 5.9% over original
budget projections – mthly peak 25.3 mgd
o Wastewater service revenue is slightly up over last
year at .43%
Expenses are as expected. Power Cost Adjustments
(PCA) in effect on utility bills to recover added
ERCOT distribution costs
Installation of energy management system approved by Council
December 9, 2008, has shown to be a successful project. The
energy consumption for the GMC building has decreased.
IT Steering Committee Project Status:
West Monroe Partners – ARRA Grant Application
Filing deadline extended – 8/6
Performance period extended to 3 years
Money to be awarded – 10/2009 Finalizing business case document Westin Engineering – IT Assessment
SWOT analysis – in progress
IT Steering Committee session on visioning and
Strategic Planning – 7/8
Westin Engineering – CIS/AMI Project AMI RFP development – in process
RFP release date – 7/29
Computer Aided Dispatch (CAD)/RMS Project
Secured $25K grant for mobile ticket equipment
Council action planned for August
HIGHLIGHTED INDICATORS
383 Res. Permits YTD = $96.5M New Value
o 60 permits in June 2009 compared to 64
permits in June 2008
105 Comm. Permits YTD = $50.8M New Value
o 30 commercial permits in June including
Airborn and Medical Center build out
SELECTED STATISTICS
Total Utility Customers: 24,066
Electric Consumption 25,601,242
No. of Water Customers: 19,965
Water Production (mil. gal.) 2,927
No. of Wastewater Customers: 17,763
Water Treated (mil. gal.) 834
TABLE OF CONTENTS
I. Executive Summary
Quarterly Financial Analysis ................................................................................. 1-3
Investments .......................................................................................................... 3-5
Internal Control ........................................................................................................ 5
Capital Projects ....................................................................................................... 6
II. Reports
June Variance Explanations .................................................................................... 8
Major Fund Revenue Comparison .......................................................................... 9
Investment Report - City .................................................................................. 10-14
Investment Report – GTEC/GEDCO ................................................................ 15-24
Pending Grants ..................................................................................................... 24
Internal Audit Report Summary ............................................................................. 25
Capital Improvement Project Summary – General Projects ............................. 26-27
Bids Awarded ........................................................................................................ 28
Capital Improvement Project Summary – Facilities/GUS Projects ................... 29-30
Capital Improvement Project Summary - GTEC ................................................... 31
3rd Fiscal Quarter – 2009
Executive Financial Summary
Executive Summary
Quarter ended 6/30/09
I. Quarterly Financial Analysis
General Fund Revenues:
General fund revenues collected through the end of the third fiscal quarter of 2009 are slightly higher than prior year
collections totaling $22,544,074 or 76% of current year end projections and a slight increase of 1.11% over prior year,
due to increased property tax revenue in 2009.
Property tax revenues are typically received during the first and second quarters of the fiscal year. As of the end of the
quarter, we have received 96.5% of the adjusted property tax levy for the year. This is consistent with the previous
year’s collection rate of 96.6% at this point in 2008. Property tax revenues are currently up 10% over prior year due to
the increased tax levy for 2009, delinquency rates will be monitored in the upcoming months to identify any trends that
may impact the upcoming budget. Preliminary tax revenue for the upcoming budget is expected to increase only
slightly due to $172 million in new property which is offset by an 8% decrease in existing property values.
$3,672,715 of sales tax revenue has been collected
for sales generated October through May. This
collection revenue is 60% of projections. Sales tax
projections are estimated to be $800,000 less than
budget, and 8% less than prior year collections. The
City also collects 1/8 cent sales tax to be used toward
the reduction of property taxes, and this decrease will
impact the overall 2009/10 property tax rate.
Court fines are down 13% from prior year with 9,827
cases processed during 2009 versus 9,821 processed
in the prior year. The case count is up due to a
change in process for warrants.
The City collects a 4 – 5% franchise fee on electrical, natural gas, cable, solid waste, and telephone revenues provided
by entities other than the City. The City has collected $1,224,747 or 88% of current year projection through the end of
the 3rd quarter. The City also collects a 2% franchise fee and an 8% return on investment fee from the City owned
utilities which totaled respectively, $998,611 and $4,141,058 through June or 67% of projected year end balances.
Development related revenue is down $224,284 or
28% from prior year and has contributed to estimated
shortfall in general fund revenues. The current
slowdown in the economy is expected to continue
through the end of the 2009. As the economy
strengthens, development activity will increase and be
reflected in future budgets.
Revenues will continue to be monitored throughout
the remainder of the year to ensure both year end
2009 and first quarter 2010 meet estimates.
1
3rd Fiscal Quarter – 2009
Executive Financial Summary
General Fund Expenditures:
General fund expenditures through the end of the third fiscal quarter of 2009 reflect the same spending patterns as prio
year. Savings from frozen positions and other operational savings will impact the 4th quarter spending.
Salaries and benefit expenditures year to date reached $15.1 million or 71% of projected budget with an additional $8.2
million or 79% of projected budget spent on operations. Environmental services spent $2,705,716 in the first three
fiscal quarters of 2009 and received revenue of $3,443,393. This service was moved into the General fund in the
current year budget.
The Transportation Services Division provides resources for street maintenance and repairs. Expenditures through the
3rd quarter of 2009 were 65% of projected budget at $1,195,983. Prior year expenditures were $1,176,041 or 79% of
total 2008 expenditures. Currently, five (5) frozen positions with an anticipated personnel savings of $316,541 are
expected.
The Community Development Division provides resources for planning and development, as well as, building permit
and inspection processing. Anticipated personnel savings in this division for six (6) frozen positions is $230,330.
The Finance Division includes court fine processing through Municipal Court. Expenditures for the quarter are slightly
higher than prior year at 76% of projected budget or $406,417.
Expenditures for Public Safety through the 3rd quarter
are 76% of projected budget with a total of $12.2
million compared to $9.5 million or 76% in prior year.
Expected savings of $652,382 for five (5) frozen
positions will be realized at year end.
Management Services includes City Management,
Council, Public Information and social service funding.
1.5 positions are currently frozen at an anticipated
savings of $201,264. Total expenditures through the
end of the 3rd quarter are on par with prior year at $3.1
million.
Community Services includes parks and recreation expenditures. Current expenditures total $4.7 million compared to
$4.0 million in the prior year. Expenditures have increased due to increased operational expenses. Savings from two
(2) frozen positions are expected to yield $63,000 in the current year.
Allocations from the Joint Services Fund, for various administrative services, are also projected to be 4-5% less than
budget due to the cost savings within allocated departments.
Utility Revenues:
Electric Revenue is over 5% greater than 2008. Collections of $36.8 million or 65% of current year projected budget
were received through June 2009 compared to $34.9 million or 67% received at this time last year.
The .43% increase in wastewater revenue is a result of the implementation of the flat rate sewer last April 2008, as well
as, continued customer growth and expansion of the utility. Tap revenue is lower due to the slowdown in development
compared to previous years. Other revenue is down from the prior year due to interest earnings being significantly
less.
Water revenue is up 1.6% over prior year due to the continued drought conditions experienced in Central Texas. As
with wastewater, tap revenue is down due to the economic slowdown. Although interest rates are lower than prior
year, the increased balances in the water fund provided greater interest income compared to prior year.
2
3rd Fiscal Quarter – 2009
Executive Financial Summary
Utility revenues are significantly impacted by growth and weather conditions. Slowdown in the economy and housing
market continue to impact future revenues. Staff will monitor these trends over the upcoming months to identify areas
that may impact the current budget and 2009/10 CIP implementation.
Other Revenues:
Hotel Occupancy Tax revenue is 15.6% lower than prior year due to the slowdown of the economy. Staff will continue
to monitor revenues closely to evaluate the operating budget for the upcoming year. Future revenues could continue to
decrease as a result of the slowing economy, although, new properties at IH35 and Northwest Blvd. could dramatically
improve next year’s revenue projections.
Fuel revenues at the airport are lower than prior year due to the decrease in gas prices. This decrease will be reflected
in the current year fuel margin.
Cash Balance vs. Fund Balance:
The $11,358,835 cash balance in the General Fund represents a snapshot of the cash on hand at the end of the
2007/08 fiscal year. The general fund emergency reserves or contingency reserves were $5,850,000 at the end of the
fiscal year but were increased to $6,500,000 for the current budget year. The 2008/09 budget anticipated cash on
hand is $9,298,849, thus excess funds of $2.06 million were realized at the end of the fiscal year. This excess
primarily related to savings in personnel and operational spending along with a prior period revenue adjustment.
The Capital Project fund used $3.9 million from contingency reserves in the General Fund to purchase the Albertson’s
building. These contingency reserves were repaid from bond proceeds from the May 2009 issue.
II. Investments
Compliance Statement:
The investment activity and strategies described in this report are in compliance with the Public Funds
Investment Act, City’s investment policy, and generally accepted accounting principles. This report includes the
investment position of the City at the end of the third fiscal quarter 2009.
Activity for the quarter primarily related to the reinvestment of maturing securities and diversification of the
portfolio. Existing bond balances will decrease in the coming months as construction draws are needed to fund
projects such as Williams Drive Widening project with Williamson County and Oak Tree Bridge, along with
wastewater improvements to Smith Branch.
The Investment Report for the Quarter Ended June 30, 2009 and the supporting schedules are attached. A
summary of the investment balances at June 30, 2009 compared to the prior quarter is shown below for the City
and both component units.
CITY GTEC GEDCO
3/31/09 6/30/09 3/31/09 6/30/09 3/31/09 6/30/09
Total cash and security
investments
$52,273,445 $62,960,400 $19,598,518 $19,338,083 $2,668,747 $2,701,957
Unrealized gain $215,094 $163,447 $117,303 $93,838 $943 $1,022
Realized gain (loss) for
quarter
$0 $0 $0 $0 $0 $0
3
3rd Fiscal Quarter – 2009
Executive Financial Summary
Economic conditions have stabilized somewhat during the quarter. Yields continue to fall while the government
decides how to implement the various “bail-out” plans and stimulus funding.
Stabilizing the banking community is a major goal of
the “bail-out” plans. Arranging closures/mergers,
increasing government lending programs, directly
injecting capital, and temporarily raising the Federal
Deposit Insurance Corporation (FDIC) insurance
limit to $250,000 from $100,000, have all been
implemented. Ensuring that the City’s financial
institution deposits are safe remains extremely
important. The increased FDIC limit, combined with
regular collateral review for deposits in excess of
the insured limit, provides that margin of safety. The
temporary increase in FDIC insurance will expire in
December 2009, unless extended by Congress.
The economy and markets continue to decline and thus have lowered yields considerably throughout the year.
For example, the City’s local government investment pools (TexPool and TexSTAR) began the year yielding
approximately 5.25% and ended the year yielding below 1.50%. Since December 30th, the target rate for
overnight fed funds was a range between 0.00% and .025% and we anticipate the pool yields to continue to drop
as a result of that action. They are currently +/-0.32%.
9/30/08 12/31/08 3/31/09 6/30/09
Managed portfolio yield 3.32% 2.31% 1.45% 1.19%
The City’s investment strategy is to “ladder” or stagger maturities, thus minimizing erratic interest rate
fluctuations. The current unrealized gain in the portfolio is due to higher yielding securities purchased before
market interest rates fell. The interest income, from these securities, diversifies and enhances the yields from
shorter-term deposits and investments. Maintaining safety of principal and adequate liquidity remain the City’s
investment portfolio objectives. Total managed portfolio yield was 1.19% on an annualized basis. The overall
yield is higher than the yield trend for the 3-month Treasury bill and the local government pools which are
currently at 0.17% and 0.32% respectively, as of June 30th.
City Portfolio balances have increased in the last
few years in direct correlation to the increase in
contingency reserves and debt proceeds issued for
capital improvement projects. The City’s
investment portfolio includes bank deposits, local
government investment pool balances, and federal
agency and instrumentality securities. All of these
investments carry insurance or an implied backing
from the Federal Government.
Market conditions have created value in non-
depository bank deposits. These deposits are
insured or collateralized as required by Policy and state law. The Certificate of Deposit Account Registry
Service (CDARS) allows the City to deposit funds with a Texas financial institution. That institution then
“spreads” the funds to other banks throughout the CDARS system to effectively insure the total deposit. The
Bank of New York acts as custodian and functions to prevent deposits in excess of FDIC insurance levels at any
one CDARS bank. Note: With the temporary nature of the increased FDIC level, CDARS has chosen to maintain
$100,000 deposit limitations.
4
3rd Fiscal Quarter – 2009
Executive Financial Summary
The City first entered into the CDARS program in November 2008 with ViewPoint Bank in Plano, Texas for
placement of funds to diversify the existing portfolio. Yields were locked in at 3.32% for a 12 month certificate
compared to yields of approximately 2.75% from government backed securities at that time. The City began
investing in the CDARS program with Comerica Bank of Houston, Texas in March 2009. The City now holds
multiple certificates of deposit at Comerica Bank with maturities varying between 6 months and 2 years. Rates
are yielding between 0.91% for a 6 month CD and 2.29% for a 2 year CD. This compares to the 0.32% rates that
were available within the local government pools.
Laurie Brewer, Assistant Finance Director
Micki Rundell, Chief Financial Officer
III. Internal Control
Internal Control Program:
Internal controls are the practices performed by departments to provide management with reasonable assurance
that assets are safeguarded and transactions are authorized, valid, complete, and accurate. Elements of a good
internal control system include 1) separation of duties; 2) authorization; 3) documentation; and 4) reconciliation.
During the 3rd quarter of the fiscal year several audits were performed and reported. These internal audits
validate the accuracy and validity of the City’s financial records by detail testing on individual transactions and
ensuring compliance with City’s financial and administrative policies.
A Travel audit was performed by reviewing individual expense reports and evaluating receipts to
ensure compliance with current travel policies. A procurement card audit was done to ensure
compliance with current purchasing policies. A Long Distance usage Audit was performed to prevent
excessive use. All bills greater than $1 are evaluated and substantiated. Fuel usage was audited
comparing gallons purchased with monthly usage to verify amounts. Petty Cash and cash drawer
audits were performed at various locations to verify cash on hand. A development fee audit was
performed by taking a random sample of Planning and Zoning approved items and correlating them to
the development payment receipts in the financial system. A municipal court audit was performed by
looking at cases whereby community service or jail time credit was granted by the Judge. In these
cases, no payment was received therefore documentation is crucial.
During this quarter, the internal control audit of the Mastercard reports revealed abuse of a City credit
card. This finding was turned over to the Georgetown Police Department for further investigation.
The results of the audit and investigation, has lead to criminal charges being filed against the
accused.
5
3rd Fiscal Quarter – 2009
Executive Financial Summary
No other material weaknesses or issues were discovered. All identified items have been or are being
addressed by each department.
A copy of the audit results is included on page 25 of this report.
IV. Capital Projects
Capital Improvement Program:
The projects in the Capital Improvement Program (CIP) generally consists of infrastructure and related
construction and do not include small capital items such as furniture, equipment, and vehicles. Significant
maintenance projects, such as street overlay are not included in the capital project schedules.
These maintenance type projects are not capitalized as a fixed asset and are always cash-funded therefore, are
considered operational in nature and are included in the departmental operating budget.
A report showing the current year budget status as well as, project to date information on the approved capital
improvement projects is included in the quarterly financial report. Information on projects completed during the
quarter is also provided for review.
6
GENERAL FUND REVENUE & EXPENSE COMPARISON 2008/2009
For the Quarter Ended 6/30/09
General Fund
3rd QUARTER PRIOR YEAR 3rd QUARTER
TOTAL PRELIMINARY 6/30/09 %ACTUAL 6/30/08 %YTD
BUDGET PROJECTIONS YTD PROJ.TOTAL YTD ACTUAL ACTUAL %
REVENUES:
Property Taxes 8,174,100 8,102,822 8,002,127 98.8% 7,541,643 7,263,717 96.3%738,410 10.17%
Sales Tax 7,011,360 6,344,300 3,672,715 57.9% 6,820,308 4,063,018 59.6%-390,303 -9.61%
Sales Tax (1/8 cent) 941,510 836,750 500,327 59.8% 916,625 551,186 60.1%-50,859 -9.23%
Franchise Fee/ROI 9,379,741 9,086,742 6,364,417 70.0% 9,168,941 6,200,920 67.6%163,497 2.64%
Development & Inspections 1,293,574 730,921 580,067 79.4% 1,158,433 804,351 69.4%-224,284 -27.88%
Court Fines 1,021,200 880,500 654,456 74.3% 1,013,699 754,076 74.4%-99,620 -13.21%
Parks & Recreation 1,606,720 1,555,690 1,184,032 76.1% 1,056,592 858,474 81.2%325,558 37.92%
Other 3,860,598 2,160,160 1,585,933 73.4% 3,910,362 1,801,740 46.1%-215,807 -11.98%
REVENUE WITHOUT ENVIRON. SVCS 33,288,803 29,697,885 22,544,074 75.9% 31,586,603 22,297,482 70.6%246,592 1.11%
Environmental Services 4,811,433 4,738,654 3,443,393 72.7%n/a 3,443,393 n/a
TOTAL REVENUES (1)38,100,236 34,436,539 25,987,467 75.5% 31,586,603 22,297,482 70.6%3,689,985 16.55%
(1) excludes transfers and SIP related fees
EXPENSES:
TRANSPORTATION
Personnel 1,279,187 928,774 671,655 72.3% 855,048 657,696 76.9%13,959 2.12%
Operations 1,116,047 904,029 524,328 58.0% 627,571 518,345 82.6%5,983 1.15%
TOTAL TRANSPORTATION 2,395,234 1,832,803 1,195,983 65.3% 1,482,619 1,176,041 79.3%19,942 1.70%
COMMUNITY DEVELOPMENT
Personnel 2,038,737 1,825,028 1,336,088 73.2% 1,830,062 1,358,982 74.3%-22,894 -1.68%
Operations 483,546 384,849 334,656 87.0% 447,440 450,407 100.7%-115,751 -25.70%
TOTAL COMMUNITY DEVELOP 2,522,283 2,209,877 1,670,744 75.6% 2,277,502 1,809,389 79.4%-138,645 -7.66%(1)
FINANCE & ADMINISTRATION
Personnel 441,399 431,169 309,677 71.8% 350,054 262,453 75.0%47,224 17.99%
Operations 114,952 107,439 96,740 90.0% 121,724 81,784 67.2%14,956 18.29%
TOTAL FINANCE & ADMIN 556,351 538,608 406,417 75.5% 471,778 344,237 73.0%62,180 18.06%(2)
FIRE
Personnel 5,762,912 5,528,798 4,007,717 72.5% 4,381,290 3,207,580 73.2%800,137 24.95%(3)
Operations 1,071,706 1,055,146 942,018 89.3% 909,566 773,290 85.0%168,728 21.82%(3)
TOTAL FIRE 6,834,618 6,583,944 4,949,735 75.2% 5,290,856 3,980,870 75.2%968,865 24.34%
MANAGEMENT SERVICES
Personnel 1,177,111 851,044 546,887 64.3% 817,222 582,498 71.3%-35,611 -6.11%
Operations 3,591,171 3,601,815 2,600,517 72.2% 3,173,421 2,501,892 78.8%98,625 3.94%
TOTAL MANAGEMENT SVCS 4,768,282 4,452,859 3,147,404 70.7% 3,990,643 3,084,390 77.3%63,014 2.04%
COMMUNITY SERVICES
Personnel 3,758,176 3,697,507 2,473,867 66.9% 3,152,475 2,172,610 68.9%301,257 13.87%(4)
Operations 2,866,636 2,802,602 2,255,234 80.5% 2,253,631 1,830,837 81.2%424,397 23.18%(4)
TOTAL COMMUNITY SERVICES 6,624,812 6,500,109 4,729,101 72.8% 5,406,106 4,003,447 74.1%725,654 18.13%
POLICE
Personnel 8,097,615 7,886,170 5,749,932 72.9% 6,735,432 4,987,028 74.0%762,904 15.30%(5)
Operations 1,682,876 1,534,877 1,463,242 95.3% 1,669,458 1,400,721 83.9%62,521 4.46%TOTAL POLICE 9,780,491 9,421,047 7,213,174 76.6% 8,404,890 6,387,749 76.0%825,425 12.92%
OPERATING EXP WITHOUT ENVIRON. SVCS.
Personnel 22,555,137 21,148,490 15,095,823 71.4% 18,121,583 13,228,847 73.0%1,866,976 14.11%
Operations 10,926,934 10,390,757 8,216,735 79.1% 9,202,811 7,557,276 82.1%659,459 8.73%
OPERATING EXPENSES 33,482,071 31,539,247 23,312,558 73.9% 27,324,394 20,786,123 76.1%2,526,435 12.15%
GUS (Environmental Services)
Personnel 58,172 59,451 44,329 74.6%n/a 44,329 n/a
Operations 4,517,211 4,276,554 2,661,387 62.2%n/a 2,661,387 n/a
TOTAL GUS 4,575,383 4,336,005 2,705,716 62.4%n/a 2,705,716 n/a
TOTAL OPERATING EXPENSES
Personnel 22,613,309 21,207,941 15,140,152 71.4% 18,121,583 13,228,847 73.0%1,911,305 14.45%
Operations 15,444,145 14,667,311 10,878,122 74.2% 9,202,811 7,557,276 82.1%3,320,846 43.94%
TOTAL OPERATING EXPENSES (2) 38,057,454 35,875,252 26,018,274 72.5% 27,324,394 20,786,123 76.1%5,232,151 25.17%
(2) excludes capital related expenditures
VARIANCE
7
June General Fund Variance Explanations
(1.)Comm Dev has an overall -7.7% decrease due to one-time projects, such as Comp Plan, funded in
2008.
(2.) The 18.1% increase in Finance & Admin is due to the associate judge and changes in allocations.
(3.)The 25.0% increase in Fire Personnel is due to higher staffing and overtime costs; including costs
associated with emergency response in Bastrop during the recent flooding event. FEMA is expected to
reimburse costs to the City. The 21.8% increase in Fire Operations is due to moving the SRF billing
expenses here, higher ISF premiums, and radio purchases
(4.)The 23.2% increase in Community Svcs Operations is due to higher building ISFs for the library,
equipment for the rec center, and increased utility costs; as well as, a 13.8% increase resulting from
staff increases associated with the new Rec Center
(5.) The 15.3% increase in Police Personnel is due to higher staffing and overtime costs.
8
MAJOR FUND REVENUE COMPARISON 2008/2009
For the Quarter Ended 6/30/09
Other Major Funds:
3rd QUARTER PRIOR YEAR 3rd QUARTER
TOTAL PRELIMINARY 6/30/09 %ACTUAL 6/30/08 %YTD
REVENUES:BUDGET PROJECTIONS YTD PROJ.TOTAL YTD ACTUAL ACTUAL %
Utility Fund Revenues:
ELECTRIC
Electric revenue 67,879,757 56,506,906 36,781,877 65.1% 51,833,477 34,913,780 67.4%1,868,097 5.35%
Electric tap revenue 450,000 250,000 201,460 80.6% 353,834 281,014 79.4%-79,554 -28.31%(1)
Electric other revenue 775,000 665,000 533,870 80.3% 819,994 599,870 73.2%-66,000 -11.00%
TOTAL ELECTRIC REVENUE 69,104,757 57,421,906 37,517,207 65.3% 53,007,305 35,794,664 67.5%1,722,543 4.81%
WASTEWATER
Wastewater revenue 8,016,520 7,552,306 5,646,576 74.8% 7,423,190 5,622,333 75.7%24,243 0.43%
Wastewater tap revenue 250,000 110,000 136,402 124.0% 262,086 180,859 69.0%-44,457 -24.58%(1)
Wastewater other revenue 263,000 166,000 113,718 68.5% 141,387 158,088 111.8%-44,370 -28.07%
TOTAL WASTEWATER REVENUE 8,529,520 7,828,306 5,896,696 75.3% 7,826,663 5,961,280 76.2%-64,584 -1.08%
WATER
Water revenue 12,811,966 13,870,000 9,254,601 66.7% 13,602,151 8,737,161 64.2%517,440 5.92%
Water tap revenue 450,000 225,000 245,207 109.0% 427,584 300,129 70.2%-54,922 -18.30%(1)
Water other revenue 622,000 641,398 315,891 49.3% 850,187 622,385 73.2%-306,494 -49.25%
TOTAL WATER REVENUE 13,883,966 14,736,398 9,815,699 66.6% 14,879,922 9,659,675 64.9%156,024 1.62%
Other Fund Revenues:
CVB
HOT tax 380,000 325,000 250,736 77.1% 440,581 297,231 67.5%-46,495 -15.64%
Other Revenue 52,834 47,299 63,655 134.6% 79,384 76,014 95.8%-12,359 -16.26%
TOTAL CVB REVENUE 432,834 372,299 314,391 84.4% 519,965 373,245 71.8%-58,854 -15.77%
AIRPORT
Fuel revenue 2,500,000 2,500,000 1,235,436 49.4% 2,765,552 2,009,110 72.6%-773,674 -38.51%(2)
Leases and Rents 440,880 440,880 398,543 90.4% 521,871 402,088 77.0%-3,545 -0.88%
Other revenue 106,780 86,780 30,368 35.0% 96,713 47,652 49.3%-17,284 -36.27%
TOTAL AIRPORT REVENUE 3,047,660 3,027,660 1,664,347 55.0% 3,384,136 2,458,850 72.7%-794,503 -32.31%
TOTAL MAJOR FUND REVENUES 94,998,737 83,386,569 55,208,340 66.2% 79,617,991 54,247,714 68.1%960,626 1.77%
* Does not include transfers
(1) Variance due to Development related revenue (Tap Fees) continue to lag due to the general economic slowdown.
(2) Variance due to fuel prices being higher in the prior year compared to fuel prices this year.
VARIANCE
9
CITY BALANCE COMPARISON BY QUARTER - June 30, 2009
Balance Balance Balance Balance
INVESTMENT BALANCES BY TYPE 9/30/08 12/31/08 3/31/09 6/30/09
U. S. GOVERNMENT AGENCY SECURITIES 31,755,785 21,670,527 14,622,310 11,067,788
TEXPOOL 1,808,437 8,682,911 7,709,239 8,520,030
TEXSTAR 16,194,864 13,857,210 17,005,666 24,770,991
JPMORGAN CHASE- Overnight Investment 3,281,997 3,706,248 2,259,241 1,341,488
JPMORGAN CHASE - Local Depository 174,296 70,020 128,507 156,914
VIEWPOINT BANK - Money Market 15,191 43,512 77,668
CDARS CERTIFICATES OF DEPOSIT 2,000,000 10,504,970 17,025,521
TOTAL CASH AND INVESTMENTS 53,215,379 50,002,107 52,273,445 62,960,400
Note: Balances shown are at book value.
City
Types of Investments
as of 6/30/09
City Investment Balances
as of 6/30/09
10
PORTFOLIO SUMMARY - By Maturityyy
07/08 08/09 08/09 08/09
Maturity Time Frame 4th Quarter 1st Quarter 2nd Quarter 3rd Quarter
0-6 Months 38,476,324 36,839,332 37,698,860 47,405,250
6-12 Months 7,629,524 8,093,563 10,532,286 8,531,794
12-18 Months 5,050,626 3,018,609 2,042,299 3,023,356
18-36 Months 2,058,905 2,050,603 2,000,000 4,000,000
53,215,379 50,002,107 52,273,445 62,960,400
Long term investments, securities with a 12 month or greater maturity, increased from 8% at March 31, 2009, to 11%
at June 30, 2009. Maturities are matched with projected disbursement requirements, such as capital improvement
projects and debt service payments, thus maintaining a staggered maturity schedule that hedges the portfolio from
market volatility is recommended. Seventy-five percent of the portfolio will mature within the next six months, with
14% maturing within 12 months. These maturities match buildout and funding of current projects, as well as, debt
service payments.
07/08 08/09 08/09 08/09
Liquidity Indicators 4th Quarter 1st Quarter 2nd Quarter 3rd Quarter
Weighted Average Maturity 134 107 125 119
Long term investments, securities with a 12 month or greater maturity, increased from 8% at March 31, 2009, to 11%
at June 30, 2009. Maturities are matched with projected disbursement requirements, such as capital improvement
projects and debt service payments, thus maintaining a staggered maturity schedule that hedges the portfolio from
market volatility is recommended. Seventy-five percent of the portfolio will mature within the next six months, with
14% maturing within 12 months. These maturities match buildout and funding of current projects, as well as, debt
service payments.
Maturities < 12 months 86.64%89.86%92.27%88.84%
Long term investments, securities with a 12 month or greater maturity, increased from 8% at March 31, 2009, to 11%
at June 30, 2009. Maturities are matched with projected disbursement requirements, such as capital improvement
projects and debt service payments, thus maintaining a staggered maturity schedule that hedges the portfolio from
market volatility is recommended. Seventy-five percent of the portfolio will mature within the next six months, with
14% maturing within 12 months. These maturities match buildout and funding of current projects, as well as, debt
service payments.
Long term investments, securities with a 12 month or greater maturity, increased from 8% at March 31, 2009, to 11%
at June 30, 2009. Maturities are matched with projected disbursement requirements, such as capital improvement
projects and debt service payments, thus maintaining a staggered maturity schedule that hedges the portfolio from
market volatility is recommended. Seventy-five percent of the portfolio will mature within the next six months, with
14% maturing within 12 months. These maturities match buildout and funding of current projects, as well as, debt
service payments.
Long term investments, securities with a 12 month or greater maturity, increased from 8% at March 31, 2009, to 11%
at June 30, 2009. Maturities are matched with projected disbursement requirements, such as capital improvement
projects and debt service payments, thus maintaining a staggered maturity schedule that hedges the portfolio from
market volatility is recommended. Seventy-five percent of the portfolio will mature within the next six months, with
14% maturing within 12 months. These maturities match buildout and funding of current projects, as well as, debt
service payments.
11
TRANSACTION LISTING - SECURITIES - June 30, 2009
Purchase Maturity / Discount / Par Investment
Date Description Call Coupon Value Yield Comments
PURCHASES:
6/25/09 Certificate of Deposit Account Registry Service (CDARS) 12/22/09 0.91% 1,500,000 0.91% Ongoing staggered maturity
Source: Operating/ Reserves investment strategy
6/25/09 Certificate of Deposit Account Registry Service (CDARS) 3/22/10 1.18% 1,000,000 1.18% Ongoing staggered maturity
Source: Operating/ Reserves investment strategy
6/25/09 Certificate of Deposit Account Registry Service (CDARS) 12/27/10 1.87% 2,000,000 1.87% Ongoing staggered maturity
Source: Operating/ Reserves investment strategy
6/25/09 Certificate of Deposit Account Registry Service (CDARS) 6/27/11 2.29% 2,000,000 2.29% Ongoing staggered maturity
Source: Operating/ Reserves investment strategy
MATURITIES:
9/26/07 Federal National Mortgage Assn (FNMA) 4/14/09 3.85% 1,000,000 4.47% Ongoing staggered maturity
Source: Operating / Reserves investment strategy
4/24/08 Federal National Mortgage Assn (FNMA) 5/15/09 4.25% 1,500,000 2.50% Ongoing staggered maturity
Source: Operating / Reserves investment strategy
12/19/07 Federal Home Loan Bank (FHLB) 6/3/09 6.30% 1,000,000 3.94% Ongoing staggered maturity
Source: Operating / Reserves investment strategy
ALL SECURITIES REDEEMED AT MATURITY, THEREFORE NO GAIN OR LOSS WAS REALIZED.
12
INVESTMENTS OUTSTANDING - June 30, 2009
3/31/09 6/30/09
Purchase Invest Par Coupon Book Market Book Accrued Investment Market Unrealized
Date Description Number Maturity Value Yield Value Value Value Interest Yield Value Gain/Loss
U. S. GOVERNMENT AGENCY SECURITIES:
1/29/08 Federal Home Loan Bank (FHLB)3133XNY86 1/14/09 1,500,000 3.50%Matured ----
Source: Operating / Reserves
6/26/08 Federal Home Loan Mortgage Corp (FHLMC) 3137EAAA7 2/17/09 1,700,000 4.88%Matured ----
Source: '07 Bonds
9/26/07 Federal National Mortgage Assn (FNMA)31359MUW1 4/14/09 1,000,000 3.85% 999,777 1,002,047 Matured ---- ------------ Source: Operating / Reserves
12/19/07 Federal Home Loan Bank (FHLB)3133M8YA6 6/3/09 1,000,000 6.30% 1,004,053 1,011,675 Matured ---- ------------
Source: Operating / Reserves
12/19/07 Federal Home Loan Bank (FHLB)3133XGYT5 12/11/09 1,000,000 5.00% 1,007,588 1,031,343 1,004,856 2,778 3.85% 1,021,751 16,895 Source: Operating / Reserves
12/19/07 Federal Home Loan Bank (FHLB)31339XNW0 6/30/10 1,000,000 5.00% 1,013,307 1,047,640 1,010,640 139 3.87% 1,044,677 34,037
Source: Operating / Reserves
1/30/08 Federal National Mortgage Assn (FNMA)3136F55H0 8/13/09 1,000,000 4.50% 1,005,905 1,016,034 1,001,879 11,250 2.84% 1,005,987 4,108 Source: Operating / Reserves
1/30/08 Federal Home Loan Mortgage Corp (FHLMC) 3128X33F8 1/25/10 1,000,000 4.38% 1,011,880 1,031,067 1,008,243 10,938 2.87% 1,023,602 15,359
Source: Operating / Reserves
3/6/08 Federal Farm Credit Banks (FFCB)31331YSR2 2/8/10 2,000,000 2.63% 2,002,391 2,033,037 2,001,690 13,125 2.48% 2,027,753 26,063
Source: Operating / Reserves
3/6/08 Federal Home Loan Bank (FHLB)31339YGY2 7/14/10 1,000,000 5.00% 1,028,992 1,048,425 1,023,356 12,500 2.66% 1,046,373 23,017 Source: Operating / Reserves
4/24/08 Federal National Mortgage Assn (FNMA)31359MVE0 5/15/09 1,500,000 4.25% 1,503,199 1,508,585 Matured ---- ------------
Source: Operating / Reserves
4/24/08 Federal Home Loan Bank (FHLB)3133X9H60 11/30/09 1,000,000 4.07% 1,008,344 1,024,048 1,005,202 3,500 2.77% 1,016,503 11,301 Source: Operating / Reserves
6/26/08 Federal Home Loan Bank (FHLB)3133M9FC1 8/14/09 3,000,000 6.50% 3,036,874 3,071,744 3,011,922 48,750 3.09% 3,026,813 14,891
Source: Operating / Reserves
TOTAL INVESTMENT SECURITIES 14,622,310 14,825,645 11,067,788 102,980 11,213,459 145,671
TexPool 6/30/09 7,709,239 7,712,631 8,520,030 8,524,801 4,771 TexSTAR 6/30/09 17,005,666 17,014,033 24,770,991 24,783,996 13,005
Certificates of Deposit - CDARS Various Various 10,504,970 10,504,970 17,025,521 Various 17,025,521
TOTAL INVESTMENT BALANCES 49,842,185 50,057,279 61,384,330 102,980 61,547,777 163,447
CITY DEPOSITORY
JPMorgan Chase**6/30/09 0.15% 128,507 128,507 156,914 0.15% 156,914
JPMorgan Chase Overnight Security**6/30/09 0.00% 2,259,241 2,259,241 1,341,488 0.00% 1,341,488
ViewPoint Bank - Money Market 6/30/09 3.00%43,512 43,512 77,668 3.00% 77,668
TOTAL CASH AND INVESTMENT BALANCES 52,273,445 52,488,539 62,960,400 102,980 63,123,847 163,447
Balances and rates as of 6/30/09.
**Funding of outstanding checks presented for payment, interest earned netted against bank service changes.
13
TRANSACTION LISTING - INVESTMENT POOLS - June 30, 2009
07/08 08/09 08/09 08/09
4th Quarter 1st Quarter 2nd Quarter 3rd Quarter
Balance Market Value Balance Market Value Balance Market Value Balance Market Value
Description 09/30/08 09/30/08 12/31/08 12/31/08 3/31/09 3/31/09 6/30/09 6/30/09 Comments
TexPool 1,808,437 1,807,605 8,682,911 8,693,244 7,709,239 7,712,631 8,520,030 8,524,801 AAA Rated Pool -
$1 per $1 value
Current value:
$1.00056 per $1
TexSTAR 16,194,864 16,182,912 13,857,210 13,872,107 17,005,666 17,014,033 24,770,991 24,783,996 AAA Rated Pool -
$1 per $1 value
Current value:
$1.000525 per $1
(Any changes in market value during quarter were within minimum guidelines unless noted.)
14
Balance Balance Balance Balance
INVESTMENT BALANCES BY TYPE 9/30/08 12/31/08 3/31/09 6/30/09
U. S. GOVERNMENT AGENCY SECURITIES 15,297,327 10,542,265 6,022,454 5,014,984
TEXPOOL 398,760 6,113,996 5,176,935 5,995,118
TEXSTAR 2,940,350 2,789,089 7,396,392 7,321,227
VIEWPOINT BANK - Money Market 2,737 6,754
CDARS CERTIFICATES OF DEPOSIT 1,000,000 1,000,000
TOTAL CASH AND INVESTMENTS 18,636,437 19,445,350 19,598,518 19,338,083
Note: Balances shown are at book value.
Liquidity Indicator / Weighted Average to Maturity 186 118 92 63
Georgetown Transportation Enhancement Corporation
For the Quarter Ended 6/30/09
GTEC Investments GTEC Weighted Average to Maturity
Balance Balance Balance Balance
INVESTMENT BALANCES BY TYPE 9/30/08 12/31/08 3/31/09 6/30/09
U. S. TREASURY SECURITIES 1,252,843 501,051
TEXSTAR 1,024,870 1,990,507 1,916,716 1,946,946
VIEWPOINT BANK - Money Market 2,031 5,011
CDARS CERTIFICATES OF DEPOSIT 750,000 750,000
TOTAL CASH AND INVESTMENTS 2,277,713 2,491,558 2,668,747 2,701,957
Note: Balances shown are at book value.
Liquidity Indicator / Weighted Average to Maturity 61 12 86 60
GEDCO Investments GEDCO Weighted Average to Maturity
Georgetown Economic Development Corporation
For the Quarter Ended 6/30/09
15
Georgetown Transportation Enhancement Corporation
Investment Report
For the Quarter Ended 6/30/09
Compliance Statement
The investment activity and strategies described in this report are in compliance with GTEC’s
investment policy and state law.
The Investment Report for the Quarter Ended June 30, 2009 and the supporting schedules are
attached. Portfolio balances increased during the quarter as sales tax collection revenue was received.
Due to the turmoil in the market and decline in yields, the City is evaluating non-depository bank
deposits as potential investments.
Market conditions have created value in these non-depository bank deposits. These deposits are
insured or collateralized as required by Policy and state law. The Certificate of Deposit Account
Registry Service (CDARS) allows the City to deposit funds with a Texas financial institution. That
institution then “spreads” the funds to other banks throughout the CDARS system to effectively insure
the total deposit. The Bank of New York acts as custodian and functions to prevent deposits in excess
of FDIC insurance levels at any one CDARS bank. Note: With the temporary nature of the increased
FDIC level, CDARS has chosen to maintain $100,000 deposit limitations.
Securities purchased in prior quarters have higher yields and thus, contribute to the unrealized market
gain in the portfolio. Our investment strategy is to “ladder” or stagger maturities, thus minimizing
interest rate risk in the long-term.
A summary of the investment balances at June 30, 2009, compared to the prior quarter is shown below.
GTEC
3/31/09 6/30/09
Total cash and security
investments
$19,598,518 $19,338,083
Unrealized gain $117,303 $93,838
Realized gain or loss for
quarter
$0 $0
Laurie Brewer, Assistant Finance Director
Micki Rundell, Chief Financial Officer
16
GTEC BALANCE COMPARISON BY QUARTER - June 30, 2009
Balance
INVESTMENT BALANCES BY TYPE 6/30/09
U. S. GOVERNMENT AGENCY SECURITIES 5,014,984
TEXPOOL 5,995,118
TEXSTAR 7,321,227
VIEWPOINT BANK - Money Market 6,754
CDARS CERTIFICATES OF DEPOSIT 1,000,000
TOTAL CASH AND INVESTMENTS 19,338,083
Note: Balances shown are at book value.
08/09
Maturity Time Frame 4th Quarter 1st Quarter 2nd Quarter 3rd Quarter
0 - 6 months 14,323,339
6 - 12 months 5,014,744
12 - 18 months
18 + months
19,338,083
Liquidity Indicator
2,013,065
3,010,146
1,018,642
2,737
1,000,000
08/0907/08 08/09
12,594,584
Balance
9/30/08
15,297,327
398,760
2,940,350
18,636,437
12/31/08
10,542,265
6,113,996
7,396,392
19,598,518
2,789,089
19,445,350
Balance Balance
3/31/09
6,022,454
5,176,935
1,015,975
19,598,518 19,445,350 18,636,437
14,579,093
4,006,118
1,013,307
14,419,691
3,008,270
1,001,414
Liquidity Indicator
Weighted Average Maturity 186 118 92 63
GTEC TRANSACTION LISTING - SECURITIES - June 30, 2009
Description Comments
PURCHASES:
There were no purchases this quarter.
MATURITIES:
Federal National Mortgage Assn (FNMA)Ongoing staggered maturity
Source: Operating/Reserves investment strategy
2.50%1,000,000 4/24/08 5/15/09 4.25%
Date Yield
Discount /
Coupon
Par
Value
Purchase InvestmentMaturity /
Call
Types of Investments GEDCO Weighted Average to Maturity
as of 6/30/09
17
GTEC INVESTMENTS OUTSTANDING - June 30, 2009
6/30/09
Purchase Invest Par Coupon Book Market Book Accrued Investment Market Unrealized
Date Description Number Maturity Value Yield Value Value Value Interest Yield Value Gain/Loss
U. S. GOVERNMENT AGENCY SECURITIES:
6/14/07 Federal Farm Credit Banks (FFCB)31331XQM7 2/23/09 4,512,000 5.00% Matured - - - - -
Source: '07 Bonds -split w/City
12/19/07 Federal National Mortgage Assn (FNMA)3136F6SC4 12/28/09 2,000,000 4.25% 2,005,025 2,055,452 2,003,331 708 3.89% 2,040,207 36,876
Source: Operating/Reserves
12/19/07 Federal Home Loan Bank (FHLB)31339XNW0 6/30/10 1,000,000 5.00% 1,013,307 1,047,640 1,010,640 139 3.87% 1,044,677 34,037
Source: Operating/Reserves
3/6/08 Federal Farm Credit Banks (FFCB) 31331YRU6 8/4/09 1,000,000 2.70% 1,000,896 1,008,507 1,000,240 6,750 2.43% 1,002,861 2,621
Source: Operating/Reserves
3/10/08 Federal Farm Credit Banks (FFCB) 31331YSR2 2/8/10 1,000,000 2.63% 1,001,093 1,016,518 1,000,773 6,563 2.49% 1,013,876 13,103 Source: Operating/Reserves
4/24/08 Federal National Mortgage Assn (FNMA) 31359MVE0 5/15/09 1,000,000 4.25% 1,002,133 1,005,723 Matured - - - - - - - - - - - - - - - - - - - -
Source: Operating/Reserves
TOTAL INVESTMENT SECURITIES 6,022,454 6,133,840 5,014,984 14,160 5,101,621 86,637
TexPool 6/30/09 5,176,935 5,179,213 5,995,118 5,998,475 3,357
TexSTAR 6/30/09 7,396,392 7,400,031 7,321,227 7,325,071 3,844
Certificates of Deposit - CDARS (12 months)1/29/10 1.50% 1,000,000 1,000,000 1,000,000 1.51% 1,000,000
TOTAL INVESTMENT BALANCES 19,595,781 19,713,084 19,331,329 14,160 19,425,167 93,838
DEPOSITORY
ViewPoint Bank - Money Market 06/30/09 3.00%2,737 2,737 6,754 3.00%6,754
TOTAL CASH AND INVESTMENT BALANCES 19,598,518 19,715,821 19,338,083 14,160 19,431,921 93,838
Balances and rates as of 6/30/09.
3/31/09
18
GTEC TRANSACTION LISTING - INVESTMENT POOLS - June 30, 2009
07/08 08/09 08/09 08/09
4th Quarter 1st Quarter 2nd Quarter 3rd Quarter
Balance Market Value Balance Market Value Balance Market Value Balance Market Value
Description 9/30/08 9/30/08 12/31/08 12/31/08 3/31/09 3/31/09 6/30/09 6/30/09 Comments
#
TexPool 398,760 398,577 6,113,996 6,121,272 5,176,935 5,179,213 5,995,118 5,998,475 AAA Rated Pool -
$1 per $1 value
Current value:
$1.00056 per $1
TexSTAR 2,940,350 2,938,180 2,789,089 2,792,087 7,396,392 7,400,031 7,321,227 7,325,071 AAA Rated Pool -
$1 per $1 value
Current value:
$1.000525 per $1
(Any changes in market value during quarter were within minimum guidelines unless noted.)
19
Georgetown Economic Development Corporation
Investment Report
For the Quarter Ended 6/30/09
Compliance Statement
The investment activity and strategies described in this report are in compliance with GEDCO’s
investment policy and state law.
The Investment Report for the Quarter Ended June 30, 2009 and the supporting schedules are
attached. Portfolio balances increased during the quarter as sales tax collection revenue was received.
Due to the turmoil in the market and decline in yields, the City is evaluating non-depository bank
deposits as potential investments.
Market conditions have created value in these non-depository bank deposits. These deposits are
insured or collateralized as required by Policy and state law. The Certificate of Deposit Account
Registry Service (CDARS) allows the City to deposit funds with a Texas financial institution. That
institution then “spreads” the funds to other banks throughout the CDARS system to effectively insure
the total deposit. The Bank of New York acts as custodian and functions to prevent deposits in excess
of FDIC insurance levels at any one CDARS bank. Note: With the temporary nature of the increased
FDIC level, CDARS has chosen to maintain $100,000 deposit limitations.
Securities purchased in prior quarters have higher yields and thus, contribute to the unrealized market
gain in the portfolio. Our investment strategy is to “ladder” or stagger maturities, thus minimizing
interest rate risk in the long-term.
A summary of the investment balances at June 30, 2009, compared to the prior quarter is shown below.
Laurie Brewer, Assistant Finance Director
Micki Rundell, Chief Financial Officer
GEDCO
3/31/09 6/30/09
Total cash and security
investments
$2,668,747 $2,701,957
Unrealized gain $943 $1,022
Realized gain or loss for
quarter
$0 $0
20
GEDCO BALANCE COMPARISON BY QUARTER - June 30, 2009
Balance
INVESTMENT BALANCES BY TYPE 6/30/09
U. S. GOVERNMENT AGENCY SECURITIES
TEXSTAR 1,946,946
VIEWPOINT BANK - Money Market 5,011
CDARS CERTIFICATES OF DEPOSIT 750,000
TOTAL CASH AND INVESTMENTS 2,701,957
Note: Balances shown are at book value.
08/09
Maturity Time Frame 3rd Quarter
0 - 6 months 1,951,957
6 - 12 months 750,000
2,701,957
Liquidity Indicator
Weighted Average Maturity 61 12 86 60
GEDCO TRANSACTION LISTING - SECURITIES - June 30, 2009
Description Comments
PURCHASES:
There were no purchases this quarter.
MATURITIES:
There were no maturities this quarter.
2,668,747
Balance
2nd Quarter
08/09
Balance
9/30/08
Balance
3/31/0912/31/08
1,252,843
1,990,507
2,031
1,024,870
501,051
1,916,716
1,918,747
750,000
Par
2,491,558
1st Quarter
08/09
2,491,558
750,000
Date
Purchase
Yield
Discount /
Call
2,277,713
Maturity /
4th Quarter
07/08
2,277,713
Coupon
Types of Investments
as of 6/30/09
GEDCO Weighted Average to Maturity
Value
Investment
2,668,747 2,491,558 2,277,713
21
GEDCO INVESTMENTS OUTSTANDING - June 30, 2009
3/31/09 6/30/09
Purchase Invest Par Coupon Book Market Book Accrued Investment Market Unrealized
Date Description Number Maturity Value Yield Value Value Value Interest Yield Value Gain/Loss
U. S. GOVERNMENT AGENCY SECURITIES:
3/6/08 Federal Home Loan Bank (FHLB)3133XARC3 2/24/09 500,000 4.01% Matured ---- Source: Operating / Reserves
TOTAL INVESTMENT SECURITIES
TexSTAR 6/30/09 1,916,716 1,917,659 1,946,946 1,947,968 1,022
Certificates of Deposit - CDARS (12 months) 1/29/10 1.50% 750,000 750,000 750,000 1.51% 750,000
TOTAL INVESTMENT BALANCES 2,666,716 2,667,659 2,696,946 2,697,968 1,022
DEPOSITORY
ViewPoint Bank - Money Market 6/30/09 3.00% 2,031 2,031 5,011 3.00% 5,011
TOTAL CASH AND INVESTMENT BALANCES 2,668,747 2,669,690 2,701,957 2,702,979 1,022
Balances and rates as of 6/30/09.
22
GEDCO TRANSACTION LISTING - INVESTMENT POOLS - June 30, 2009
07/08 08/09 08/09 08/09
4th Quarter 1st Quarter 2nd Quarter 3rd Quarter
Balance Market Value Balance Market Value Balance Market Value Balance Market Value
Description 9/30/08 9/30/08 12/31/08 12/31/08 3/31/09 3/31/09 6/30/09 6/30/09 Comments
TexSTAR 1,024,870 1,024,114 1,990,507 1,992,647 1,916,716 1,917,659 1,946,946 1,947,968 AAA Rated Pool -
$1 per $1 value
Current value:
$1.000525 per $1
(Any changes in market value during quarter were within minimum guidelines unless noted.)
23
Grant Description Grantor Grant Amount Match Notes
GUS
Texas Weatherization Service Funding Dept of Energy 201,900 Pending
American Recovery & POC: Ken Arnold
Reinvestment Act (ARRA)
Recycling Subsidy Dept of Energy 75,000 Pending
Nat'l Energy Technology Lab POC: Rachel Osgood
2009 Recovery Act
Single Stream Feasibiilty Study Nat'l Energy Technology Lab 150,000 Pending
2009 Recovery Act POC: Rachel Osgood
Finance & Administration Pending
Smart Grid Grant ARRA unknown unknown CIS/AMI project
Planning Pending
CDBG Grant Williamson County unknown unknown Sidewalk projects
Police
FEMA Prehazard Mitigation Grant FEMA 1,000,000 250,000 Pending
PD COPS Grant - hire 6 new officers US Dept of Justice 1,107,054 382,446 Pending
Fire
Purchase 4 Rad-57cm Pulse CO-Oximeters Firehouse Subs Public Safety Foundation 14,000 Pending
Purchase Fire Engine Assistance to FF Grant (AFG)350,000 35,000 Pending
Wellness/Fitness Equipment Assistance to FF Grant (AFG)69,000 6,900 Pending
Fire Station Construction Federal Fire Station Construction 1,800,000 Pending
Grant
City of Georgetown
Pending Grants
as of 7/15/09
24
Audit Type Total Exceptions
AutoCITE Inventory Audit
AutoCITE units 24 - N/A
Units accounted for 24
Violations -
Cell Phone Audits
Cell Phones $10/ more over plan limits 27 - Fifteen employees had City cell phone overages
Overages reimbursed 15 and were required by their supervisor to
Total amount reimbursed 737.75$ reimburse the City.
Developmental Services Audit
Approved items 44 - N/A
Audit selection 16
Violations -
Fuel Usage Report
Diesel gallons purchased 50,529 - N/A
Unleaded gallons purchased 23,699
City's average rate-diesel 1.66$
City's average rate-gasoline 1.76$
Total amount paid (including taxes)142,444.06$
Long Distance Audits
Calls over $1.00 90 - Four personal long-distance calls were made from
Call explanations requested 33 a City phone line
Total amount reimbursed 6.38$
Calls reimbursed to City 4
Payroll Audits
Payrolls audited 6 - N/A
Employee pay rates audited 197
Violations -
Stipend Audits
Payrolls audited 3 - N/A
Employee stipends audited 24
Violations -
Petty Cash Audits (Once per quarter)
Cash boxes audited 8 - N/A
Total cash amount 3,225.00$
Violations -
Cash Drawer Audits (Once per quarter)
Drawers audited 26 - One department's drawer was twelve dollars over
Total cash amount 5,480.00$ - One employee's drawer was fifteen dollars over
Violations 2
Police Imprest Fund (Once per quarter)
Cash boxes audited 1 - N/A
Violations -
Procurement Card Audits
Expense Reports generated 441 - Audit led to legal action being pursued against one
Total dollars spent 210,450.84$ employee.
Reports audited 363 - Twelve reports not turned-in in a timely manner
Violations 24 - Five reports missing receipts
- Six reports missing food receipt descriptions
Travel Audits
Expense Reports generated 101 - One employee did not complete a Travel Expense
Reports audited 27 Report for their overnight trip
Violations 7 - One employee received a per diem check and did
not go on the trip
- Two employees were reimbursed for full-rate mileage
when they should have been reimbursed at half-rate
- Three employees did not turn-in a Travel Expense
Report or their Procurement Card Report
Internal Audit Report Summary
For the Third Fiscal Quarter 2008/2009
25
Capital Improvement Project Summary – General Projects
Third Quarter 2009
Animal Shelter
This area is an extension off of the existing kennel and is being used as a
triage and cat holding area. Construction was completed in February using
staff personnel as the construction manager and saving approximately
$60,000. The facility is now in use and Animal Services is pleased with the
finished product.
Recreation Center
Phase II of the project otherwise known as the Teen/Senior Center was
completed at the end of April. The Center is now fully operational. We
have just completed the project closeout documents with the Construction
Manager and have been informed that they will be returning $300,000 in
unused contingency money to the City
Parking Lot Additions
The 8th Street parking, Community Center, Bark Park/McMaster Fields,
City Hall and Municipal Complex parking lots have been completed and
are in use.
Highway Monument Sign
The multiple use agreement has been at TxDot for the past sixty days
making its way through the maze of approvals. They have forwarded the
agreement to the Federal Highway Administration for the final approval.
Construction contracts are in place and work will begin once we have
received official notice of approval.
Wayfinding Signs
The project is complete with the exception of three signs scheduled for
installation on University Drive. TxDOT is processing approval of these
three signs and we will hopefully be given approval to erect them within
the next thirty days.
Police Evidence Storage
Engineered drawings of the metal building and site plans are being
reviewed by Building Inspection for determination as to location
appropriateness and constructability. Once we receive this approval, a site
26
plan will be submitted to Development Services for their approval to locate
in the designated area. The metal building has been purchased and funds
have been encumbered for the erection of the building.
Police Impound Lot
Site plans have been approved by Development Services and submitted
to the TCEQ for approval of the water pollution abatement plan. We have
submitted a request to Development Services to rezone the property at
the southwest corner of the landfill from residential to industrial for the
purpose of locating this lot in that location. TCEQ approval is expected
within the week.
CVB Renovation/Relocation
This project is complete and CVB has been relocated to their new offices
in the Parks Administration Building.
Watering Mules Sculpture
The project was completed in early March.
27
BID COUNCIL AMOUNT
BID NO. BID NAME DATE APPROVAL AWARDED VENDOR
29031 CIS/AMI Consultant (RFP) 2/19/2009 5/12/2009 1,397,810.00$ Westin Engineering
29038 Janitorial Supplies 3/23/2009 4/14/2009 43,710.00$ Pollack Paper
29040 Permx Mosquito Spray -informal 4/15/2009 NA $11,544.00 B&G Chemicals
29041 Rock St. Wastewater Ext. Pavement & Ped Crossing 4/7/2009 6/26/2009 $1,001,262.00 Joe Bland Construction
29045 Hot Mix 5/11/2009 6/9/2009 350,500.00$ RTI
29046 2009 Street Rehab Project 6/10/2009 6/23/2009 500,220.75$ Cutler Repaving Inc.
29047 Hot Mix Asphalt Concrete Mix Material 6/10/2009 6/23/2009 298,887.00$ Ramming Paving
City of Georgetown
Bids Awarded During 3rd Quarter 2008/2009
28
Capital Improvement Projects
For the Quarter Ended 06/30/09
Division Projected Total PTD
Project Budget Exp. Enc. Balance Budget Costs Balance Status
Facilities
6AS Dtown Master Plan 237(36)1221
6BI Pedestrian Bridge 0 2 (1) (1)010(10)
6BS Rock St Extension 12 13 (1) (1)12 13 (1)
68C GMC Renovation 877 0 0 877 877 0 877
68E Land acquisition 400 354 0 46 400 354 46
6CI Remodel Fire # 2 22 00220
City Building Parking Lots 440 388 50 2 825 492 333 Complete
Animal Kennel / Triage Intake Area 0 13 (13)08278 4Complete
City Office Improvements 68 70 (3)0 354 119 235 Complete
Total Facilities $1,801 880 (3)$925 $2,554 $1,068 $1,486
Recreation Center 127 3,523 (3,397)1 12,743 12,769 (26)Construction
6AW New Library 0 13 (13)0 9,700 9,794 (94)Complete
Total Bond Projects 127 3,536 (3,410)1 22,443 22,563 (120)
Parkland Development 14 2 0 12 149 189 (40)
605 Parks Improvements 21 42 (16) (5)456 433 23
6BW Natural Springs Purchase 0 0 0 (0)300 105 195
Total Parks Improvements 35 44 (16)7 905 728 178
Total General Government CIP 1,963 4,460 (3,429)932 25,902 24,359 1,543
Y-T-D
2008/09 (000s)Project to Date (000s)
Streets / Transportation
1AC Old Mill Village 0 247 (205) (41)0 524 (524)
1AR Pavement Mgmt System Update 0 57 (57)0 150 150 0
1AV 2006 Street Rehabs 0 (28)028 0(28)28
1AZ 2007 Street Rehabs 866 119 (119)866 3,350 2,731 619 Construction
1BA Main Street - Univ to 21st 564 0 0 564 1,129 1 1,128 Design
1BB Maple Street Realign 0 12 (12)0000
1BC 2008 Street Rehabs 723 1,416 379 (1,072)2,235 1,894 341 Design
1BH Oak Tree Drive Bridge 551 284 194 72 1,151 620 531 Design
11B DB Drive Widening 380 0 0 380 380 0 380
11C Williams Dr Widening 1,500 0 0 1,500 1,500 0 1,500
1BJ Street Maint 2009 1,720 56 76 1,588 1,720 132 1,588
1BN FM 1460 Sidewalks Improve 0 7 8 (15)015(15)
1BK Austin Ave Bridge painting 0 0 0 (0)00(0)
1BI College St Bridge 0 4 0 (4)04(4)
Total Streets $6,303 2,175 264 $3,864 $11,614 $6,044 $5,570
Stormwater
1BE Maple Street Culverts 150 36 4 110 300 40 260
1BF San Gabriel Park Bank Erosion 0 0 0 0 300 4 296
1BG Stormwater Inventory 150 0 0 150 300 0 300
1BH Oak Tree Drive Bridge 523 51 407 64 1,123 537 586
5AG Railroad Drainage 35 3 0 32 197 43 154
5AK C&G 2007 300 0 0 300 400 0 400
51A Northwest @ IH35 325 0 0 325 325 0 325
Total Stormwater $1,483 90 411 $981 $2,945 $624 $2,321
29
Capital Improvement Projects
For the Quarter Ended 06/30/09
Division Projected Total PTD
Project Budget Exp. Enc. Balance Budget Costs Balance Status
Y-T-D
2008/09 (000s)Project to Date (000s)
Irrigation
5IB Pecan Branch Reuse Line 54 751 (697) (0)4,304 1,153 3,152 Design
3BB SG Peak Flow/Irrg 0 531 (531)0000
Total Irrigation $54 1,282 (1,228) ($0)$4,304 $1,153 $3,152
Wastewater
1BC 2008 Street Rehabs 0 379 0 (379)0 379 (379)
1BA Main St ( Univ to 21st) 0 13 (12) (1)01(1)
2BA 2006 Annexations 654 43 67 544 654 351 303
2BB Wastewater Master Plan Update 0 3 (1) (2)75 101 (26)
3AL Rock Street Lift Station 0 2 0 (2)02(2)
3AY South Fork: Phase B & C1 0 2,649 0 (2,649)1,500 2,660 (1,160)Complete
3BA Northern Lands WWTP 0 16 (16)0000
3BB San Gabriel Plant Upgrade 0 2,226 (2,228)2 696 3,494 (2,798)Design
3BD Smith Branch / SG Interconnect 0 622 1,402 (2,024)7,220 2,711 4,509 Design
3BF Cimaron Hills Plant Expansion 65 15 (15)65 385 39 346 Design
3BG River Down and Ridge LS Decommission 116 0 0 116 116 0 116
3BI Smith Branch Interceptor Upgrade 1,500 34 (25)1,490 1,500 187 1,313
6BS Rock Street Extension 0 12 (12)0000
303 Wastewater Line Upgrades 250 0 0 250 625 25 600
304 Edwards Aquifer Compliance 750 11 (3)742 2,150 40 2,110
Total Wastewater $3,335 6,024 (842) ($1,847)$14,921 $9,990 $4,931
Water
1AA 13th Street Rehab 0 47 0 (47)047(47)
1BC 2008 St t R h b 0 654 0 (654)0 654 (654)1BC 2008 Street Rehab 0 654 0 (654)0 654 (654)
22B Southlake WTP 1,000 0 0 1,000 1,000 0 1,000
22C Leak Detection Program 250 2 23 225 250 25 225
22D Street Maintenance 500 0 0 500 500 0 500
22E Town Square District 250 0 0 250 250 0 250
2AV Park Plant Clearwell 0 1,363 (1,340) (23)1,500 2,039 (539)
2AW Austin Ave W/WW 0 2 (2)0000
2AX West Loop: DB Wood to CR 265 0 0 0 0 750 0 750
2AY Escalera Elevated Storage Tank 0 1,866 (1,838) (28)1,725 2,354 (629)
2AZ 2005 Annexations 125 0 0 125 925 15 910
2BA 2006 Annexations 1,967 190 (17)1,794 4,167 419 3,748
2BB Master Plan Updates 0 (4)0 4 75 48 27
2BC Williams Dr. Upgrade 0 13 2 (15)015(15)
2BD Leander Rd PS Upgrade 0 116 (116)0000
2BG Chambers of Commerce 6"0 14 0 (14)014(14)
2BH Whitetail Deer Draw 0 12 129 (141)0 141 (141)
2BI Lakeway Dr Utility Relo 0 17 0 (17)017(17)
2BJ Lake Water Clearwell 488 14 278 196 488 292 196
5IB Pecan Branch Reuse Line 0 56 24 (80)080(80)
204 Water Line Upgrades 500 51 (28)477 2,878 369 2,509
Total Water $5,080 4,413 (2,886)$4,255 $14,508 $5,827 $8,681
AMI/CIS-Water
2BK AMI/CIS Upgrade 1,398 0 1,398 0 1,398 1,398 0
Total Water/AMI/CIS 6,478 4,413 (1,488)4,255 15,906 7,224 8,681
30
Capital Improvement Projects
For the Quarter Ended 06/30/2009
Division Projected Total PTD
Project Budget Exp. Enc. Balance Budget Costs Balance Status
GTEC
51A Economic Development Projects 942 0 0 942 1,817 0 1,817
51B NW Blvd Bridge 65 4 (0)61 65 25 40
5QV Tx Outdoor Power Equip 300 300 0 0 300 300 0 Complete
5QC Southwest Bypass 0 323 (323) (1)2,460 1,586 874 Design
5QG Arterial SE1: Inner Loop / SH 130 10,765 114 (98)10,749 34,580 1,464 33,117 Design
5QP 500 South Austin Avenue 326 272 0 55 1,338 678 660
5QU 501 South Austin Ave 556 556 0 0 1,619 556 1,063 Complete
5QW Wolf Ranch Pkwy Ext 330 0 330 0 330 330 0 Design
Total GTEC $13,284 $1,569 ($92)$11,806 $42,509 $4,939 $37,570
Y-T-D
2008/09 (000s)Project to Date (000s)
31