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HomeMy WebLinkAbout04 - Financial SummaryFiNAi\TcL4-t,, FINANCIAL SUMMARY TABLE OF CONTENTS Summary Where the Money Comes From .............................................. 27 Where the Money Goes (by function) .......................................... 28 Where the Money Goes ..................................................... 29 Revenues PropertyTaxes........................................................... 30 SalesTax................................................................ 32 UtilityRevenues.......................................................... 34 Capital Recovery Fees ...................................................... 36 Other Enterprise Fund Revenues .............................................. 37 Other Miscellaneous Revenues ............................................... 38 Fund Summaries All Funds Summary ....................................................... 40 GeneralFund............................................................. 42 StreetsFund............................................................ 44 ElectricFund............................................................. 46 Wastewater Fund.......................................................... 48 WaterFund.............................................................. 50 AirportFund............................................................. 52 Sanitation Fund........................................................... 53 Stormwater Drainage Fund .................................................. 54 General Capital Projects Funds ............................................... 55 Special Revenue Funds ..................................................... 56 Internal Service Funds ...................................................... 57 Other Enterprise Puna, Revenues $2,500 $2,000 N $1,500 caN 0 0 s F $1,000 $500 $0 93/94 94/95 95/96 96/97 97/98 98/99* 99/00* Fiscal Year 93/94 94/95 95/96 96/97 97/98 98/99* 99/00* (in thousands) Stormwater Drainage N/A 100 260 327 467 635 944 Airport 379 379 458 603 573 588 685 Sanitation 1,014 1,147 1,292 1,507 1,812 1,923 2,076 *Projected Sanitation Revenue: Sanitation revenue includes fees collected for curbside pick-up and recycling, special pick-ups and dumping fees at the City's collection station. Rates were increased slightly in October 1995 and will be raised $0.50/month for residential and 7.5% for commercial in October 1998. Customer growth rates continue to mirror that of the City and other utilities. Airport Revenue: Airport revenue consists primarily of fuel sales, T -hangar rentals and tie -down fees. Additional T -hangars were constructed in 1994/95 and additional hangar construction is planned for 1999/00. In addition to receiving increased revenues from the new units constructed, the City also instituted a multi-year rental rate increase in 1995 to bring the municipal airport to a self- supporting position. Beginning in 1998/99, the operations are self-supporting. Stormwater Drainage: Revenue for stormwater drainage is collected on a per unit basis to pay for the maintenance and construction of drainage, detention and filtration infrastructure. The monthly fees were instituted at $0.75/unit in 1994/95 to cover operating costs and were increased $0.50/unit in 1995/96, 1997/98 and 1998/99 to pay debt service on drainage improvement projects. Fees apply within the incorporated city limit and the growth will be consistent with other utility customer growth. - FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 37 Other Miscellaneous Revenues $4 $3 2 $2 $1 93/94 94/95 95/96 96/97 97/98 98/99' 99/00' 'Projected Fiscal Year 93194 94195 95/96 96/97 97/98 98199' 99/00' (in thousands) Interest Income 462 683 1,054 819 1,169 1,195 962 Grant Revenue 98 630 540 1,212 2,009 2,667 126 Miscellaneous Revenue 1,761 1,774 2,868 2,474 3,031 3,069 2,783 Interest Income *Decrease in 1996/97 due to declining cash balances as bond proceeds were expended and excess cash reserves being invested in economic development projects. *42% increase in 1997/98 from the close out of a large economic development investment and new debt proceeds *Interest revenues are projected based on anticipated cash balances available from: *Fund balances *Bond proceeds *Contingency reserves *Debt service funds Grant Revenue The City receives grants for a variety of purposes including law enforcement, emergency management, tree planting, and parks construction. Economic development grants, which constitute the majority of receipts, are received from the State as pass- through grants to construct facilities and infrastructure to support businesses that are relocating to Georgetown. Grant revenue is projected based on pending and approved grant commitments. Miscellaneous Revenue Miscellaneous fees are expected to remain stable for the upcoming year and include revenues and funding sources not appro- priate to other categories and also the following specific revenues: *Franchise fees *Building permits *Fines *Building permits *Mapping fees *Donations *Surplus property sales *Platting fees *Other user fees *Parks & recreation charges *Hotel/motel taxes 38 FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 This page intentionally left blank. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 39 T T r'r'I 40 Beginning Fund Balances / Working Capital SOURCES & REVENUES: Property taxes Sales taxes Bond Proceeds Charges for Services Capital Recovery Fees Special Improvement Fees Utility Revenues Grants Interest Other Revenue Interfund Transfers General Special Capital Total General Revenue Projects Budget Fund Funds Funds 22,377,079 3,330,340 361,266 2,421,035 4,226,131 1,911,020 594,000 10,826,444 2,572,450 2,572,450 3,232,897 586,565 4,750,000 1,306,365 1,306,365 4,000,000 6,416,950 772,415 2,264,388 398,685 943,450 1,360,425 2,720,075 612,683 29,048,395 1,924,276 557,855 3,523,726 2,666,918 245,020 2,494,968 1,194,826 149,000 75,750 174,000 8,410,289 1,205,075 4,537,908 393,125 6,163,479 3,237,308 650,806 610,865 Total Revenues 67,208,548 9,847,268 8,353,432 5,177,990 USES & EXPENSES: Community Owned Utilities Purchased Power Community Services Development Services Finance & Administration Fire Services Information Resources Management Services Parks, Library and Recreation Police Services Capital Improvements Debt Payments Administrative Expense Interfund Transfers 10,453,320 1,046,427 10,826,444 3,232,897 586,565 299,140 1,306,365 1,306,365 3,028,744 129,129 2,264,388 2,264,388. 943,450 2,500 2,720,075 612,683 2,482,131 1,924,276 557,855 3,523,726 3,278,706 245,020 21,630,172 5,714,448 3,952,500 3,738,832 957,190 957,190 6,163,479 118,306 647,865 500,000 Total Uses & Expenses 73,271,213 11,177,608 8,513,255 4,452,500 Ending Fund Balance / 16,314,414 2,000,000 201,443 3,146,525 Working Capital RESERVATIONS: Contingency 7,336,500 2,000,000 61,500 Other 8,879,672 139,943 3,146,525 Available Fund Balance/ 98,242 0 0 0 Working Capital Employees - Full Time Equivalents 323.75 181.25 38.75 0.00 (1) Includes Airport; Sanitation and Stormwater Drainage Funds FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 General 3,245,490 2,389,000 Debt Other Internal Service Electric Wastewater Water Enterprise Service Fund Fund Fund Fund Funds(1) Funds 427,740 5,556,182 4,288,595 4,217,021 1,675,168 99,732 1,721,111 2,899,615 940,950 2,107,392 3,245,490 2,389,000 750,000 2,145,384 1,766,562 495,415 668,653 5,644,535 221,793 130,560 268,125 2,459,127 252,778 1,640,341 516,375 844,050 17,184,835 3,374,495 5,963,600 2,525,465 20,344,887 5,318,183 9,295,029 171,950 7,045,240 476,239 42,000 298,726 180,600 155,000 37,500 82,250 51,950 800,967 318,204 483,465 619,595 50,000 405,000 460,823 3,370,646 1,259,500 1,815,061 18,284,528 4,925,234 7,886,190 3,932,560 6,986,285 3,318,411 2,007,752 2,884,929 378,518 817,283 10,826,444 57,465 40,777 0.00 2,347,192 97.25 2,899,615 940,950 2,107,392 41 3,245,490 2,389,000 4,183,350 2,145,384 1,766,562 495,415 668,653 586,409 221,793 2,459,127 252,778 1,640,341 265,062 280,000 1,766,562 20,344,887 5,318,183 9,295,029 5,357,949 7,045,240 476,239 3,495,823 3,895,646 2,808,182 249,779 40,777 3,035,000 525,000 1,665,000 50,000 476,239 460,823 3,370,646 1,143,182 142,314 0 0 0 0 57,465 40,777 0.00 97.25 6.00 6.75 90.75 63.00 FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 41 42 General Fund. Beginning Fund Balance REVENUES: Property Taxes Sales Taxes Interest Administrative Charges All Other Revenue Transfers In Total Revenues EXPENSES: Community Services Development Services Finance & Administration Fire Services Information Services Management Services Parks, Library & Recreation Police Services Administrative Expense Transfers Out Total Expenses 97/98 98/99 99/00 96/97 97/98 Projected Adopted Projected Actual Budget Actual Budget Budget 3,143,029 2,129,414 2,179,549 3,330,340 2,000,000 1,131,174 1,452,080 1,590,994 1,911,020 2,225,706 2,159,689 2,263,500 2,370,000 2,572,450 2,798,570 72,714 40,000 100,000 149,000 149,000 1,423,881 1,764,050 1,766,682 772,415 772,415 1,101,988 1,123,063 1,532,631 1,205,075 1,116,433 3,489,542 5,234,761 5,275,786 3,237,308 4,323,147 9,378,988 11,877,454 12,636,093 9,847,268 11,385,271 631,329 788,910 686,526 586,565 575,809 1,052,502 1,310,070 1,294,353 1,306,365 1,284,795 791,537 924,862 924,085 129,129 129,129 1,739,640 1,929,176 1,864,400 2,264,388 2,470,873 230,321 0 0 0 0 1,335,801 1,846,019 1,700,423 612,683 612,683 1,627,386 1,821,690 1,820,244 1,924,276 1,924,689 2,672,479 3,078,061 2,896,614 3,278,706 3,278,706 0 0 0 957,190 957,190 261,473 308,080 298,657 118,306 151,397 10,342,468 12,006,868 11,485,302 11,177,608 11,385,271 Ending Fund Balance 2,179,549 2,000,000 3,330,340 2,000,000 2,000,000 RESERVATIONS: Contingency 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 Available Fund Balance 179,549 0 1,330,340 0 0 FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 Revenues 1998/99 Property Taxes 19 Sales Taxes 26% Interest & Other 14 Admin Charges 8% Transfers In 33% Expenditures 1998/99 Fire Svcs 22% Parks 19 Managemi Svcs 6% Finance 1 velopment Svcs 13% Community Svcs 6% Transfers 1 rouue Svcs 327a 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. signiiieant Issues/Comments: *Beginning in 1998/99 several administrative departments have been transferred to the Joint Services Internal Service Fund to allow better allocation of those costs to the various fund and departments. The departments transferred are Accounting, Employee and Organizational Services, Finance Administration, Legal Services, Purchasing and Properties, and Safety Services. *Transfers In includes funds received from enterprise funds as a return on investment. In 1998/99, return on investment is $1,902,308. *Fire Services will open Fire Station No. 3, located at Sun City Georgetown. The opening requires 11 new firefighters (6 in late 1997/98 and 5 in early 1998/99), plus operating costs. *Police Services added 5 positions during 1997/98. The 12 -month cost of these positions, additional operating costs for building remodeling to be complete in February 1999 and new public safety software costs are included in 1998/99. *Parks, Library and Recreation will add one additional Children's Librarian in 1998/99. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 43 Streets Puna. Beginning Fund Balance REVENUES: Property Taxes (Dedicated) Franchise Fees Interest Grant Revenue All Other Revenue Transfers In Total Revenues EXPENSES: Community Owned Utilities Transfers Out Total Expenses 97/98 98199 99/00 96/97 97/98 Projected Adopted Projected Actual Budget Actual Budget Budget 0 26,855 28,301 219,354 29,326 253,388 409,036 443,492 594,000 656,000 703,973 755,120 794,409 885,264 972,915 1,716 9,264 2,000 10,000 10,000 0 0 125,000 0 0 9,063 0 0 0 0 175,413 183,500 183,500 0 0 1,143, 553 1,356,920 1,548,401 1,489,264 1,638,915 856,052 963,127 936,700 1,046,427 1,040,827 259,200 420,648 420,648 632,865 515,000 1,115,252 1,383,775 1,357, 348 1,679,292 1,555,827 Ending Fund Balance 28,301 0 219,354 29,326 112,414 44 FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 Revenues 1998/99 Expenditures 1998/99 Property Taxes 35.4% Franchise Fees 52.7% Puna. Description: Interest .06% Fund Balance 11.3% Operations 62.3% Transfers 37.7% The Streets Special Revenue Fund (SRF) was set up in 1996/97 as part of the City's effort to dedicate sufficient financial resources to street repair and maintenance, as well as to track funds received for use of public rights-of-way. => Five cents of the City's $0.35 property tax rate is dedicated to streets. => Franchise fees from service providers (telephone, gas, cable TV, etc.) and city -owned utilities are deposited directly to the Streets SRF because these fees are reimbursements to the City for rental of streets and rights-of-way owned by the citizens of Georgetown, and for added wear and tear caused by these utilities due to street cuts and traffic diversions. => Street Department personnel and operating costs are included in this fund. => Any excess funds are transferred to Streets Capital Projects for transportation system expansion and improvements. Significant Issues/Comments: The Street Department will add a CIP & Customer Coordinator to oversee street and related capital projects. The department budget is also increased for anticipated market salary adjustments. * Transfers Out are made to Streets -General Capital Projects to fund the 1998/99 portion of the 5 -year capital improvements plan. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 45 Electric Fund. 97/98 98199 99100 96197 97/98 Projected Adopted Projected Actual Budget Actual Budget Budget 3,894,620 0 2,050,000 Beginning Working Capital 3,033,634 4,720,343 4,349,240 5,556,182 3,495,823 REVENUES: Electric Services 14,814,125 15,418,524 16,085,000 17,184,835 18,275,820 Bond Proceeds 2,481,000 1,630,000 3,894,620 0 2,050,000 Interest 167,861 223,152 341,025 298,726 253,699 All Other Revenue 902,861 1,493,549 1,548,393 800,967 766,747 Transfers In 12,315 14,183 14,183 0 0 Total Revenues 18,378,162 18,779,408 21,883,221 18,284,528 21,346,266 EXPENSES: Community Owned Utilities 2,010,578 2,854,984 2,840,136 3,318,411 2,952,956 Purchased Power 9,749,800 9,713,670 10,133,550 10,826,444 11,488,567 Capital Projects 2,976,366 4,919,775 4,470,099 3,245,490 3,807,750 Debt Service 426,195 285;821 262,553 495,415 681,020 Transfers Out 1,899,617 2,925,501 2,969,941 2,459,127 2,773,723 Total Expenses 17,062,556 20,699,751 20,676,279 20,344,887 21,704,016 Ending Working Capital RESERVATIONS: Contingency Capital Projects 4,349,240 2,800,000 5,556,182 3,495,823 3,138,073 2,375,000 2,800,000 2,800,000 3,035,000 3,135,000 886,130 0 2,555,051 460,823 3,073 Available Working Capital 1,088 110 0 201,131 0 0 46 FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 Revenues 1998/99 Electric Service 85.3% All Other Revenue 5.3% =und 3alance 9.4% Expenses 1998/99 Purchased Power 54% Capital Projects 15% )perating 17% Transfers 12% )t Service 2% Puna, 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 the Electric department, purchased power costs, debt service and capital projects. The fund also makes transfers out to other funds as directed by the City Council. )Significant Issues/Comments: In anticipation of retail electric deregulation in 2001, the City will spend $377,000 to replace the existing utility billing system with a Customer Information System and start up a variety of new programs including time -of -use rates, full page statement billing and rebates to customer specified non-profit organizations. The Customer, Choice and Control, or CCC, system (automated meter reading system) will be completed during 1998/99. One full time systems operator will be added to oversee the system. Purchased power costs continue to increase proportionally with the growth in customer base. Capital projects are funded through operating revenues and debt when needed. In 1998/99, $1,001,000 of operating revenues are used for capital projects. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 47 Wastewater Fund. 97/98 98199 99/00 96/97 97/98 Projected Adopted Projected Actual Budget Actual Budget Budget Beginning Working Capital 3,239,974 2,624,357 2,880,367 4,288,595 3,895,646 REVENUES: 2,004,961 2,467,288 2,489,604 2,007,752 1,990,949 Wastewater Services 3,176,383 3,174,652 3,119,000 3,374,495 3,492,568 Bond Proceeds 0 0 2,555,638 0 0 Capital Recovery Fees 105,905 163,200 133,000 130,560 130,560 Special Improvement Fees 622,080 637,875 546,750 516,375 516,375 Interest 136,208 78,838 155,850 180,600 201,600 All Other Revenue 87,694 539,142 424,366 318,204 329,511 Transfers In 2,680 405,739 3,255 405,000 0 Total Revenues 4,130,950 4,999,446 6,937,859 4,925,234 4,670,614 EXPENSES: Community Owned Utilities 2,004,961 2,467,288 2,489,604 2,007,752 1,990,949 Capital Projects 780,995 1,852,588 1,445,033 2,389,000 4,619,550 Debt Service 764,274 871,029 605,104 668,653 918,987 Transfers Out 940,327 1,005,584 989,890 252,778 260,118 Total Expenses 4,490,557 6,196,489 5,529,631 5,318,183 7,789,604 Ending Working Capital 2,880,367 1,427,314 4,288,595 3,895,646 776,656 RESERVATIONS: Contingency 910,000 600,000 600,000 525,000 525,000 Capital Projects 1,967,862 424,830 3,532,317 2,870,646 1,656 Service Improvements 97,693 402,484 0 500,000 250,000 Available Working Capital (95,188) 0 156,278 0 0 FINANCIAL SUMMARY 48 ANNUAL OPERATING PLAN ELEMENT 1998/99 Revenues 1998/99 Expenses 1998/99 Wastewater Service 63.5% Fund Balance r.j7o Puna. Description: Operating 37.7% All Other Revenue 29.2% Capital Projects 44.9% Transfers 4.8% t Service 12.6% The Wastewater Fund is used to account for the revenues from all operating and maintenance activities of the utility and the expenses of the Utility Contracts, Wastewater Collection and Wastewater Treatment Facilities departments which support those activities. Wastewater expenses include operations, payment to a private contractor to operate the City's three treatment plants, debt service, capital projects and transfers out to other funds as directed by the City Council. Capital Recovery Fees and Service Improvement Fees are dedicated to capital improvement projects. Significant Issues/Comments: * One-time legal expenses were incurred in 1997/98 for a dispute relating to one of the City's treatment plants. * Debt service is reduced by approximately 13% long-term due to a complete refunding and restructure of the City's utility system revenue debt. The restructuring reduced wastewater debt through 1999/00 -- despite additional debt being issued. * Capital projects are funded through operating revenues, capital recovery fees and debt when needed. - In 1998/99, $1,447,000 of operating revenue is used for capital projects. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 49 Water Puna. 97/98 98199 99100 96/97 97/98 Projected Adopted Projected Actual Budget Actual Budget Budget Beginning Working Capital 3,251,871 3,425,951 3,078,977 4,217,021 2,808,182 REVENUES: 2,764,026 2,777,322 2,753,715 2,884,929 2,852,790 Water Services 5,348,446 5,836,198 5,836,450 5,963,600 6,378,200 Bond Proceeds 1,654,000 0 0 0 0 Capital Recovery Fees 168,650 272,000 200,000 268,125 268,125 Special Improvement Fees 1,016,836 1,042,650 893,700 844,050 844,050 Interest 111,167 110,851 142,100 155,000 149,000 Grants 0 0 0 171,950 0 All Other Revenue 132,606 308,060 607,456 483,465 491,793 Transfers In 4,070 1,947 1,947 0 0 Total Revenues 8,435,775 7,571,706 7,681,653 7,886,190 8,131,168 EXPENSES: Community Owned Utilities 2,764,026 2,777,322 2,753,715 2,884,929 2,852,790 Capital Projects 2,861,467 3,482,000 1,289,000 4,183,350 1,895,000 Debt Service 1,464,423 1,419,508 1,064,630 586,409 806,118 Transfers Out 1,518,753 1,798,827 1,436,264 1,640,341 2,307,135 Total Expenses 8,608,669 9,477,657 6,543,609 9,295,029 7,861,043 Ending Working Capital RESERVATIONS: Contingency Capital Projects Conservation Rate Service Improvements 3,078,977 1,520,000 4,217,021 2,808,182 3,078,307 1,500,000 1,520,000 1,520,000 1,665,000 1,740,000 971,209 0 1,603,909 91,182 91,307 82,000 0 182,000 302,000 422,000 542,924 0 425,000 750,000 825,000 Available Working Capital (17,156) 0 486,112 0 0 50 FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 Revenues - 1998/99 Water Service 67.2% Fund Balance 15.1 Puna, Description: All Other Revenue 20.7% Expenses - 1998/99 c;apirai r-rojecrs flora rating 31 'ransfers 17.7% Debt Service 6.3% The Water Fund is used to account for the revenues from all operating and maintenance activities of the utility and expenses of the Utility Contracts, Water Distribution and Water Treatment Facilities departments which support those activities. Water expenses include operations, payment to a private contractor to operate the City's three treatment plants, debt service, capital projects and transfers out to other funds as directed by the City Council. Capital recovery fees, special improvement fees and revenues from summer conservation rates are dedicated to capital improvement projects. Significant Issues/Comments: - * Debt service is reduced by approximately 13% long-term due to a complete refunding and restructure of the City's utility system revenue debt. The restructuring reduced water debt through the life of the issue and eliminated any new debt through 1999/00. * Capital projects are funded through operating revenues, capital recovery fees and debt when needed. In 1998/99, $1,646,000 of operating revenue is used for capital projects. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 51 Airport Fund 97/98 98/99 99/00 96/97 97/98 Projected Adopted Projected Actual Budget Actual Budget Budget 152,600 158,000 243,000 Beginning Working Capital 53,897 26,517 13,320 174,296 29,123 REVENUES: Fuel & Terminal Sales 388,903 385,300 403,400 413,550 423,900 Leases & Rents 148,264 151,000 152,600 158,000 243,000 Bond Proceeds 0 0 129,208 750,000 0 Interest 5,949 2,700 2,400 12,500 2,500 All Other Revenue 12,765 14,000 14,000 16,000 18,000 Transfers In 52,734 3,066 3,066 0 0 Total Revenues 608,615 556,066 704,674 1,350,050 687,400 Community Services 484,746 524,745 543,698 545,873 552,873 Capital Projects 119,201 0 0 897,400 0 Debt Service 45,245 45,225 0 51,950 115,038 Total Expenses 649,192 569,970 543,698 1,495,223 667,911 Ending Working Capital 13,320 12,613 174,296 29,123 48,612 RESERVATIONS: Capital Projects 0 0 127,400 0 0 Available Working Capital 13,320 12,613 46,896 29,123 48,612 Fund Decription: " The Airport Fund is used to account for revenues and expenses related to the operation and maintenance of the Georgetown Municipal Airport. Revenues are derived from fuel sales to private aircraft, hangar leases, sales taxes generated from businesses located at the airport, and property taxes levied against privately held airport property. The fund became self-supporting in 1997/98, through scheduled increases in hangar leases and rising fuel sales. The completion of a 36 -space T -hangar project in 1998/99 will result in additional lease revenues needed to pay debt service and limited overhead for the facility. FINANCIAL SUMMARY 52 ANNUAL OPERATING PLAN ELEMENT 1998/99 Sanitation Fund. 97/98 98199 99/00 96197 97198 Projected Adopted Projected Actual Budget Actual Budget Budget Beginning Working Capital 14,704 (52,467) (39,221) 10,973 25,370 REVENUES: Sanitation Services 1,478,152 1,565,687 1,682,908 1,894,421 2,045,698 All Other Revenue 27,647 28,799 26,125 28,122 30,063 Transfers In 881 102,865 102,865 0 0 " Total Revenues 1,506,680 1,697,351 1,811,898 1,922,543 2,075,761 EXPENSES: Community Services 1,469,684 1,549,239 1,659,175 1,801,319 1,942,697 Transfers Out 90,921 95,645 102,529 106,827 112,160 Total Expenses 1,560,605 1,644,884 1,761,704 1,908,146 2,054,857 Available Working Capital (39,221) 0 10,973 25,370 46,274 Puna. Description: * The Sanitation Fund is used to account for revenues from all operating and maintenance activities of the utility and the expenses of the departments which support those activities. Sanitation include operating costs for the Collection Station and Utility Contracts departments, as well as payments to the City's private contractor for solid waste disposal services. * Sanitation rates are proposed to increase by $0.50/month for residential customers and 7.5% foi commercial customers. * The City will change its private contractor to Texas Disposal Systems effective October 1, 1998. * This fund will be self-supporting beginning in 1998/99. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 53 Stormwater Drainage Fund 97198 98199 99100 96/97 97/98 Projected Adopted Projected Actual Budget Actual Budget Budget Beginning Working Capital REVENUES: Stormwater Fees Bond Proceeds Interest All Other Revenue Transfers In Total Revenues EXPENSES: 141,882 10,696 93,518 1,489,899 195,286 294,610 439,190 458,243 631,044 660,204 0 2,245,000 2,274,059 0 275,000 9,048 36,500 31,250 25,000 25,000 6,503 5,983 6,906 3,923 8,647 26,275 2,215 2,215 0 0 336,436 2,728,888 2,772,673 659,967 968,851 Community Owned Utilities 232,112 300,097 298,416 378,518 379,110 Capital Projects 75,386 1,281,000 990,675 1,247,984 411,300 Debt Service 59,358 59,358 59,358 169,843 192,700 Transfers Out 17,944 26,627 27,843 158,235 40,011 Total Expenses 384,800 1,667,082 1,376,292 1,954,580 1,023,121 Ending Working Capital RESERVATIONS: Contingency Capital Projects 93,518 1,072, 502 1,489,899 195,286 141,016 25,000 40,000 40,000 50,000 75,000 50,664 1,032,502 1,365,298 142,314 31,014 Available Working Capital 17,854 0 84,601 2,972 35,002 Fund Description: The Stormwater Drainage Fund is used to account for the operations and maintenance of the City's drainage system. Stormwater drainage expenses also include debt service for capital improvements. The City implemented a fee increase in two phases, $0.50/unit/month in October 1997 and $0.50 in October 1998. The additional fee revenue pays debt service on a $2.2 million capital improvement program and offsets operating deficits. FINANCIAL SUMMARY 54 ANNUAL OPERATING PLAN ELEMENT 1998/99 General Capital Projects Funds - summary 1998/99 EXPENDITURES: Capital Projects 760,000 1,122,000 2,070,500 3,952,500 Interfund Transfers 500,000 500,000 Total Expenditures 1,260,000 1,122,000 2,070,500 4,452,500 Ending Fund Balance 2,845,500 123,325 177,700 3,146,525 Fund. Description: Capital projects funds are used to account for the acquisition and construction of major capital facilities other that those financed by Special Revenue and Enterprise Funds (i.e., utilities and airport ). Parks & Other Capital Projects Fund Includes funds for the purchase of Berry Creek Racquet Club and various small projects. The $1,250,000 Rivet Corridors Hike 'n Bike Trail construction is reflected in a special revenue fund with related bond proceeds of $500,000 transferred to that fund. Public Safety Construction Fund Includes the completion of the expansion and remodeling of the Police Services Building, construction of Fire Fire Station No. 4 on Shell Spur and purchase of land for a future south side fire station. Streets Capital Projects Fund Includes revenues from transportation improvements fees received as part of the City's development agreement with Del Webb Corp. for Sun City Georgetown. Transfers come from available balances in the Streets Special Revenue Fund. Projects to be constructed are included in.the City's five year capital improvement program. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 55 Parks & Other Projects Public Safety Construction Streets Capital Projects General Capital Projects Total Beginning Fund Balance 1,114,000 300,325 1,006,710 2,421,035 REVENUES: Bond Proceeds 2,878,000 922,000 200,000 4,000,000 Interest 68,500 23,000 70,000 161,500 Service Improvement Program Fees 393,125 393,125 Other 12,500 12,500 Interfund Transfers 32,500 578,365 610,865 Total Revenues 2,991,500 945,000 1,241,490 5,177,990 EXPENDITURES: Capital Projects 760,000 1,122,000 2,070,500 3,952,500 Interfund Transfers 500,000 500,000 Total Expenditures 1,260,000 1,122,000 2,070,500 4,452,500 Ending Fund Balance 2,845,500 123,325 177,700 3,146,525 Fund. Description: Capital projects funds are used to account for the acquisition and construction of major capital facilities other that those financed by Special Revenue and Enterprise Funds (i.e., utilities and airport ). Parks & Other Capital Projects Fund Includes funds for the purchase of Berry Creek Racquet Club and various small projects. The $1,250,000 Rivet Corridors Hike 'n Bike Trail construction is reflected in a special revenue fund with related bond proceeds of $500,000 transferred to that fund. Public Safety Construction Fund Includes the completion of the expansion and remodeling of the Police Services Building, construction of Fire Fire Station No. 4 on Shell Spur and purchase of land for a future south side fire station. Streets Capital Projects Fund Includes revenues from transportation improvements fees received as part of the City's development agreement with Del Webb Corp. for Sun City Georgetown. Transfers come from available balances in the Streets Special Revenue Fund. Projects to be constructed are included in.the City's five year capital improvement program. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 55 Special Revenue Funds - Summary 1998/99 Beginning Ending Fund Fund Fund Division Balance Revenues Expenditures Balance Convention & Visitors Bureau Community Services 111,624 328,262 299,140 140,746 Economic Development Grants Management services 0 4,464,448 4,464,448 0. Library Donations Parks, Library & Recreation 12,247 10,800 15,600 7,447 Mapping Fund Information Resources 7,816 3,150 2,500 8,466 Parks Restricted Parks, Library & Recreation 26,556 107,888 128,763 5,681 Police Restricted Police Services 4,313 245,420 245,020 4,713 Recreation Programs Parks, Library & Recreation (20,644) 454,200 428,492 5,064 River Corridors Grant Parks, Library & Recreation 0 1,250,000 1,250,000 0 Streets Community Owned Utilities 219,354 1,489,264 1,679,292 29,326 Total Special Revenue Funds 361,266 8,353,432 8,513,255 201,443 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 the following: => Grants => Hotel/Motel taxes => Parkland dedication fees => Recreation programs => Streets Each fund is treated as a separate department of the activity or department it falls under. For example, the Library Donations SRF is considered a department under the purview of the Public Library Director, in the Parks, Library and Recreation division. Individual fund and program information is included following the administering department. FINANCIAL SUMMARY 56 ANNUAL OPERATING PLAN ELEMENT 1998199 Internal ,Service Funds - summary 1998/99 Facilities Fleet Information Joint Internal Maintenance Management Services Services Service Funds Fund Fund Fund Fund Total Beginning Working Capital REVENUES: Charges for Services Interest & Other Interfund Transfers Total Revenues EXPENSES: Community Owned Utilities Finance & Administration Information Resources Management Services Interfund Transfers Total Expenses Ending Working Capital 5,185 152,055 71,173 (128,681) 99,732 395,440 1,139,450 789,701 3,319,944 5,644,535 6,000 40,000 30,000 6,250 82,250 54,500 55,000 1,150,000 1,259,500 401,440 1,233,950 874,701 4,476,194 6,986,285 948,774 948,774 399,334 1,078,374 1,290,416 2,768,124 940,950 940,950 2,107,392 2,107,392 280,000 280,000 399,334 1,358,374 940,950 4,346,582 7,045,240 7,291 27,631 4,924 931 40,777 Employees - Full Time Equivalents: 1.00 4.00 6.25 51.75 63.00 Fund. Description: 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. Charges for services are based on hardware and software requirements for each department. Joint Services Fund Composed of departments providing administrative services to City funds and departments. COU Administration, Pump Maintenance, Systems Engineering and Utility Office provide support to the City's utility funds. In 1998/99, administrative departments were transferred to this fund to allow for better allocation of costs to various departments and funds. Departments transferred from the General Fund are Accounting, Employee and Organizational Services, Finance Administration, Legal Services, Purchasing and Properties and Safety Services. FINANCIAL SUMMARY ANNUAL OPERATING PLAN ELEMENT 1998/99 57 This page intentionally left blank. FINANCIAL SUMMARY 58 ANNUAL OPERATING PLAN ELEMENT 1998/99