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Home My WebLink About03 Financial Summary 2017 FY2017 Annual Budget FINANCIAL SUMMARY Family picnic at Music on the Square 31 FY2017 Annual Budget FINANCIAL SUMMARY City Departments by Fund ..........................33 City Departments by Division/Fund ............34 Financial Summary Budgeted Revenues .................................35 Budgeted Expenses..................................36 Major Revenue Sources...........................37 All Funds Summary:by Fund/by Division ...40 All Funds Summary:by Fund/by POC .........42 Fund Structure ............................................44 32 FY2017 Annual Budget AdministrativeServices Library CITY OF GEORGETOWN FUNDING AnimalServices CodeEnforcement PoliceSupport Services PoliceOperations Recreation Fire:Emergency Services Fire:Support Services GENERAL FUND Streets SolidWaste &Recycling Services PublicWorksAdministration CITY DEPARTMENTS BY FUND This page visually represents the Departments of the City listed by their funding source. CitySecretary’s Office InspectionServices Planning MunicipalCourt Parks PublicCommunication ElectricAdministration ElectricEngineering ElectricTechnical Services Resource Management ELECTRIC FUND EnergyServices ElectricSystem Operations FacilitiesMaintenance Engineering FleetServices JOINT SERVICESF UND MainStreet LegalServices Conservation CustomerCare INTERNAL SERVICE FUNDS Accounting Systems Engineering InformationTechnology EconomicDevelopment HumanResources FinanceAdministration GUSAdministration Purchasing Irrigation WastewaterServices WATER FUND WaterServicesand Administration Airport StormwaterDrainage OTHER ENTERPRISE FUNDS ConventionandVisitor’s Bureau ParamedicFund SPECIAL REVENUE FUNDS Allother Special Revenue Funds 33 FY2017 Annual Budget CITY MANAGER AdministrativeServices Library CITY ATTORNEY CITY SECRETARY BOARDS &COMMISSIONS MUNICIPAL COURT JUDGE HOME RULE CITY Citizensof Georgetown CITY COUNCIL Mayorand Councilmembers POLICE SERVICES PoliceChief AnimalServices CodeEnforcement SupportServices Operations Accounting FinanceAdministration Recreation Purchasing ElectricAdministration ElectricSystem Operations ElectricTechnical Services EnergyServices Irrigation FIRE SERVICES FireChief EmergencyServices SupportServices GEORGETOWN UTILITY SYSTEMS GeneralManager of Utilities DEVELOPMENT &PLANNING AssistantCity Manager COMMUNITY SERVICES &FINANCE AssistantCity Manager Streets SolidWaste &Recycling Services PublicWorksAdministration Conservation CustomerCare Engineering CITY DEPARTMENTS BY DIVISION AND FUND This page visually represents the Divisions and Departments of our City with their funding sources. CitySecretary’s Office GENERALF UND JOINTS ERVICESF UND HumanResources LegalServices InspectionServices Planning GENERALF UND JOINTS ERVICESF UND EconomicDevelopment MainStreet SPECIALR EVENUEF UNDS Convention &Visitor’s Bureau GENERALF UND GENERALF UND ParamedicFund SPECIALR EVENUEF UNDS GENERALF UND JOINTS ERVICESF UND MunicipalCourt Parks PublicCommunication INTERNALS ERVICEF UND FacilitiesMaintenance FleetServices GENERALF UND ELECTRICF UND JOINTS ERVICESF UND WATERF UND Resource Management WastewaterServices Airport OTHERE NTERPRISEF UNDS StormwaterDrainage ElectricEngineering InformationTechnology GUSAdministration Systems Engineering WaterServicesandAdministration 34 FY2017 Annual Budget FINANCIAL SUMMARY FY2017 BUDGETED REVENUES total $295.1 million in FY2017.The primary revenue categories consist of property taxes,sales tax,charges for services,utility revenues,and bond proceeds. Overall,budget revenues are 0.15%lower than FY2016 year end projections,primarily due to the variance in debt proceeds issued for capital projects.Utility revenue represents 38.4%of all revenue and is budgeted at $113.3 million in FY2017.Due to population growth and increased valuation of existing property,property tax revenue is budgeted to increase by 8.79%relative to year end projections.Sales tax revenue is also expected to increase in FY2017.It is anticipated sales tax revenue will exceed $23 million for the first time in the City’s history. 38% 14% 13% 8% 8% 7% 6%2%2%1% 0% FY2017 Revenues UtilityRevenue Other Revenue Bond Proceeds Property Tax Sales Tax Interfund TranfersROI,Etc. Charges for Services Capital Recovery Fee Franchise Fees Development and Permit Fees Parks and Rec Fees Interest Grants Revenue Type FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Utility Revenue 102,879,942 105,415,442 106,895,018 113,344,441 113,344,441 Bond Proceeds 42,164,703 59,207,000 59,862,304 37,660,000 37,660,000 Other Revenue 27,236,521 33,193,429 30,013,155 42,929,371 144,506 43,073,877 Interfund TranfersROI,Etc. 23,601,127 21,083,515 21,491,787 18,952,424 715,213 19,667,637 Property Tax 21,129,627 23,208,869 23,384,947 25,442,837 25,442,189 Sales Tax 20,477,518 21,005,000 22,201,611 23,099,933 23,099,933 Charges for Services 14,229,231 16,178,157 15,069,804 16,940,332 16,940,332 Capital Recovery Fee 5,924,452 5,945,574 5,081,780 5,367,300 5,367,300 Franchise Fees 4,925,043 5,129,030 4,960,206 5,142,035 5,142,035 Development and Permit Fees 2,340,128 2,392,400 2,387,950 2,292,691 2,292,691 Parks and Rec Fees 2,108,976 2,112,000 2,099,553 2,171,740 19,006 2,190,746 Grants 838,716 938,304 1,067,471 170,500 63,350 233,850 Special Improvement Fe e s 705,428 642,373 632,970 205,000 205,000 Interest 434,290 280,217 386,769 407,635 407,635 Grand Total 268,995,702 296,731,310 295,535,324 294,126,238 942,075 295,067,665 35 FY2017 Annual Budget FY2017 BUDGETED EXPENSES total $325.8 million in FY2017,which represents a decrease of 3.74%relative to FY2016 year end projections. Water related expenses are the largest category totaling $83.6 million and includes capital improvement expenses totaling $46.7 million.Electric expenses are budgeted to decrease over year end projections by 2.39%in FY2017. General Fund expenses total $57.4 million,which represents an increase of 5.41%relative to year end projections. 26% 21% 18% 11% 10% 8% 4%2% FY2017 Expenses Water Electric General Fund ISF SRF GCP Debt Services Other Enterprise Funds Expenses FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Debt Services 16,984,994 12,810,464 20,717,452 14,804,714 14,804,714 Electric 68,757,280 70,318,153 68,979,957 66,718,081 613,288 67,331,369 GCP 15,033,479 47,805,549 41,522,414 27,053,883 27,053,883 General Fund 51,052,834 54,816,774 54,539,932 55,648,876 1,843,769 57,492,644 ISF 27,379,840 33,596,176 32,238,973 34,465,380 1,641,856 36,107,236 Other Enterprise Funds 6,780,644 8,608,730 7,649,059 7,408,877 453,276 7,862,153 S RF 27,498,109 51,139,995 38,010,525 30,781,053 726,268 31,507,321 Water 45,555,944 77,371,774 74,802,097 81,357,992 2,263,535 83,621,527 Grand Total 259,043,123 356,467,615 338,460,409 318,238,855 7,541,992 325,780,846 36 FY2017 Annual Budget MAJOR REVENUE SOURCES Taxes are levied on January 1 of each year.The Williamson Central Appraisal District determines the value for each property in the city.Property tax rolls are certified in July and the tax rate is adopted in September, along with the budget.The City’s tax collector,the Williamson County Tax Collector,sends statements in October to each taxpayer. Budgeted revenues from ad valorem taxes total $25.4 million.The adopted property tax rate for FY2017 is $0.4240 per $100 valuation.The tax rate is one cent lower than the FY2016 rate and represents the lowest tax rate in the greater Austin MSA.For FY2017,0.19666 cents per $100 valuation is allocated for Operations and Maintenance (O&M).The remaining 0.22734 cents per $100 valuation is allocated for Interest and Sinking (I&S)to retire general debt. Due to projected population growth and proposed new development in the pipeline,it is anticipated that property tax revenue will continue to grow for the next few years. is budgeted at $23.1 million.The City’s sales tax rate is 8.25%for goods or services sold or delivered within the boundaries of the City.The tax is collected by businesses making the sale and is remitted to the State Comptroller of Public Accounts on a monthly,quarterly,or annual basis. Of the 8.25%tax,the State retains 6.25%and distributes 2%to the City.The 2%is allocation in the following catagories. 1.000%is used for general operating purposes. 0.500%is used for transportation improvements through the Georgetown Transportation Enhancement Corporation (GTEC),the City’s 4B Economic Development Corporation,authorized in May 2001. 0.125%is for Georgetown Economic Development Corporation (GEDCO),the City’s 4A Economic Development Corporation,approved in May 2005. 0.125%is for property tax relief,approved in May 2005. 0.250%is used for street maintenance,with a sunset revision approved in November 2010,and the tax reauthorized in November 2014. Overall,the City sales tax revenue has been increasing over the past 18 months.New development coupled with population growth has resulted in the City’s sales tax revenue to increase by nearly 10%in FY2016 relative to FY2015. Property Tax Rev.by Fund FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget 100 General 10,719,097 11,636,698 11,673,060 12,475,000 12,475,000 159 Debt 9,817,979 10,900,000 10,900,000 12,000,000 12,000,000 234 Village PID 345,340 416,520 416,520 334,713 334,065 293 Downtown TIRZ 180,485 205,433 202,632 216,100 216,100 294 Rivery TIRZ 39,628 21,063 88,204 249,517 249,517 295 Gateway TIRZ 27,098 29,155 32,843 36,858 36,858 296 South Georgetown TIRZ 71,688 130,649 130,649 Grand Total 21,129,627 23,208,869 23,384,947 25,442,837 25,442,189 Sales Tax Rev.by Fund FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget 100 General 11,296,645 11,587,812 12,357,361 12,818,683 12,818,683 203 Street Maintenance Tax 2,623,106 2,690,625 2,812,500 2,937,500 2,937,500 400 GTEC 5,246,213 5,381,250 5,625,000 5,875,000 5,875,000 420 GEDCO 1,311,553 1,345,313 1,406,750 1,468,750 1,468,750 Grand Total 20,477,518 21,005,000 22,201,611 23,099,933 23,099,933 37 FY2017 Annual Budget The City of Georgetown uses detailed,confidential,Georgetownspecific sales tax information from the State,as well as permitting data,and aggregate sales tax information from all Texas cities to produce a sector based,multiple regression predictive model.The model is reviewed,analyzed,and updated monthly. charges for electric,water,and wastewater services are anticipated to generate $113.3 million in FY2017,which represents an increase of 6.03%relative to year end projections. Generally,utility revenue projections are based on fiveyear forecasting models for each utility. The City prepares a financial model of each utility,forecasting revenues,expected infrastructure needs,and other expected expenses.The models are prepared based upon assumptions regarding customer growth,the City’s five year capital improvements plans, forecasted increases in costs,including personnel,and historical data.The models serve as a planning tool to forecast the ability to pay cash for infrastructure,anticipate debt needs for the upcoming five to ten year period,as well as predict rate increases for customers. Electric and Water Revenues: Calculated on a fiveyear rolling average of per capita consumption in order to hedge against variations in weather conditions. Growth estimates are based upon building permits,expected build out of subdivisions and other planning and development activity. Assumes a 3%peak load growth for Electric through the next five years,as the City’s southern electric service area continues to develop. Assumes a 1 2%customer growth for Water for the next five years. Wastewater Revenues: Assumes a 1 2%customer growth over the next five years. Flat rates allocate cost equitably between all system users and eliminating any crossclass subsidies. In FY2017,an increase of 4.7%is applied to the wastewater base rate of each customer class.For residential customers,this equates to an increase of $1.40 per month.The wastewater rate has not changed since 2007. $60.23 $61.86 $65.01 20 25 30 35 40 45 50 55 60 65 70 FY2015 FY2016 FY2017MillionsElectricRevenue $32.89 $35.02 $37.84 20 22 24 26 28 30 32 34 36 38 40 FY2015 FY2016 FY2017MillionsWaterRevenue 38 FY2017 Annual Budget consists primarily of fuel sales,T hangar rentals,and tie down fees.Throughout FY2015,the City engaged in activities to improve the business model of the Airport,including a third party audit of operations,completing a lease hangar survey,and implementing new fuel rates.All of these moves were designed to restore the Airport fund to selfsufficient status. Entering FY2017,it is projected the fund will have a positive cash flow and will be selfsufficient. The reduction in revenue from FY2015 to FY2016 is due to less bond proceeds for capital projects in FY2016.Additionally,the cost of fuel was significantly less relative to FY2015,which resulted in the City’s retail price for fuel sales to be reduced as well. is collected on a per unit basis to pay for maintenance of drainage,detention,and filtration infrastructure, and to pay for the debt service on bonds issued for major capital drainage improvements.In FY2016,the rate was adjusted to $6.50 to help cover the impacts of federally regulated Municipal Separate Storm Sewer System (MS4) requirements. Overall reveneues are budgeted lower in FY2017 relative to the previous years.In FY2015 and FY2016,stormwater capital improvement projects were largely funded by bond proceeds. In FY2017,all capital improvements are funded with a planned drawdown of avavilable fund balance and no bond proceeds will be needed. consists of Service Improvement Fees and Impact Fees.Service Improvement fees are collected from several developments,such as Sun City,on a per unit basis to offset costs of infrastructure improvements to serve these developments.The fees,similar to impact fees,are collected for water and wastewater improvements as part of the development agreements.In 1996,the City adopted water and wastewater Impact Fees under Chapter 395 of the Texas Local Government Code.These revenues are used as partial funding for qualifying water and wastewater infrastructure projects for increased system capacity. include transfers between funds (e.g.the return on investment or ROI transferred to the general fund from the utility fund each year). include interest income,grant revenue,franchise fees,and environmental service revenue, which is associated with passthrough billing for Solid Waste and Recycling services the City contracts with Texas Disposal Systems (TDS). $3.54 $2.81 $3.59 0 1 2 3 4 FY2015 FY2016 FY2017MillionsAirportRevenue $4.85 $3.93 $3.34 0 1 2 3 4 5 6 FY2015 FY2016 FY2017MillionsStormwaterRevenue 39 FY2017 Annual Budget ALL FUNDS SUMMARY BY FUND/BY DIVISION Total Budget General Fund Special Revenue Funds General Capital Projects Funds General Debt Service Fund Beginning Fund Balances / Working Capital 71,170,267 9,956,779 15,130,045 6,143,883 1,543,287 SOURCES&REVENUES Property Tax 25,442,189 12,475,000 967,189 12,000,000 Sales Tax 23,099,933 12,818,683 10,281,250 Bond Proceeds 37,960,000 1,850,000 12,360,000 Charges for Services 16,940,332 1,886,221 392,410 Development and Permit Fees 2,292,691 2,292,691 Parks and Rec Fees 2,190,746 2,190,746 Franchise Fees 5,142,035 5,142,035 Grants 233,850 63,350 135,500 Interest 407,635 80,610 75,000 2,000 Utility Revenue 113,344,441 7,181,300 Capital Recovery Fee 5,367,300 Special Improvement Fee 205,000 Other Revenue 42,773,877 3,508,328 8,038,543 8,475,000 Interfund Transfers ROI,Etc.19,667,637 8,505,241 1,763,410 2,916,878 Total Revenue s 295,067,665 56,063,595 23,508,912 20,910,000 14,918,878 USES &EXPENSES Community Development 2,435,075 2,350,075 85,000 Community Services 14,066,274 9,577,813 943,739 Finance &Administration 8,109,651 564,620 65,985 Fire 14,685,246 12,465,078 2,220,168 Georgetown Utility Systems 53,438,703 304,647 Purchased Power 38,000,000 CRR Credits (1,500,000) Management Services 15,883,407 6,107,302 Police 14,930,325 14,595,077 335,248 Public Works 21,548,420 10,387,963 3,325,000 Economic Development 23,085,795 22,500,268 Information Technology 5,423,802 Capital Improvements 80,281,369 824,086 25,065,883 Debt Payments 22,344,457 14,804,714 Debt Issuance Cost 20,800 Interfund Transfers 13,052,523 1,444,716 903,180 1,988,000 Total Uses &Expenses 325,805,847 57,492,644 31,507,321 27,053,883 14,804,714 Ending Fund Balance /Working Capital 40,432,085 8,527,730 7,131,635 1,657,451 RESERVATIONS Arterial Reservation 675,000 675,000 Contingency 21,871,128 8,000,000 2,035,938 1,462,911 Economic Stability 500,000 500,000 Maintenance Contingency 25,000 25,000 Perpetual Reserve 3,250,000 3,250,000 Rate Stabilization/Credit Reserve 5,762,280 IBNR Reserve 631,140 Available Fund Balance /Working Capital 7,717,537 27,730 1,145,697 194,540 GOVERNMENTAL FUND TYPES (1)Includes Airport &Stormwater Drainage (2)Includes debt service payments on behalf of GTEC offset by transfer from GTEC (3)Includes debt service payments on behalf of GEDCO offset by transfer from GEDCO 40 FY2017 Annual Budget Total Budget Electric Fund Water Fund Other Enterprise Funds Internal Service Funds Beginning Fund Balances / Working Capital 71,170,267 6,436,145 24,911,799 1,598,357 5,449,972 SOURCES&REVENUES Property Tax 25,442,189 Sales Tax 23,099,933 Bond Proceeds 37,960,000 3,750,000 20,000,000 Charges for Services 16,940,332 14,661,701 Development and Permit Fees 2,292,691 Parks and Rec Fees 2,190,746 Franchise Fees 5,142,035 Grants 233,850 35,000 Interest 407,635 18,100 199,975 4,950 27,000 Utility Revenue 113,344,441 65,018,216 37,836,975 3,307,950 Capital Recovery Fee 5,367,300 5,367,300 Special Improvement Fee 205,000 205,000 Other Revenue 42,773,877 1,745,000 3,147,088 3,579,993 14,279,925 Interfund Tr ansfers ROI,Etc .19,667,637 115,839 6,366,269 Total Revenues 295,067,665 70,531,316 66,872,177 6,927,893 35,334,895 USES &EXPENSES Community Development 2,435,075 Community Services 14,066,274 3,544,722 Finance &Administration 8,109,651 7,479,046 Fire 14,685,246 Georgetown Utility Systems 53,438,703 16,854,453 29,292,915 6,986,688 Purchased Power 38,000,000 38,000,000 CRR Credits (1,500,000)(1,500,000) Management Services 15,883,407 9,776,105 Police 14,930,325 Public Works 21,548,420 5,549,111 2,286,346 Economic Development 23,085,795 585,527 Information Technology 5,423,802 5,423,802 Capital Improvements 80,281,369 5,157,000 48,258,400 976,000 Debt Payments 22,344,457 3,462,471 3,351,787 725,485 Debt Issuance Cost 20,800 16,800 4,000 Interfund Transfers 13,052,523 5,365,645 2,718,425 607,557 25,000 Total Uses &Expenses 325,805,847 67,356,369 83,621,527 7,862,153 36,107,236 Ending Fund Balance /Working Capital 40,432,085 9,611,092 8,162,449 664,097 4,677,631 RESERVATIONS Arterial Reservation 675,000 Contingency 21,871,128 5,000,000 5,000,000 372,279 Economic Stability 500,000 Maintenance Contingency 25,000 Perpetual Reserve 3,250,000 Rate Stabilization/Credit Reserve 5,762,280 4,500,000 1,262,280 IBNR Reserve 631,140 631,140 Available Fund Balance /Working Capital 7,717,537 111,092 3,162,449 291,818 2,784,211 PROPRIETARY FUND TYPES 41 FY2017 Annual Budget ALL FUNDS SUMMARY BY FUND/BY PERSONNEL-OPERATING-CAPITAL Total Budget General Fund Special Revenue Funds General Capital Projects Funds General Debt Service Fund Beginning Fund Balances / Working Capital 71,170,267 9,956,779 15,130,045 6,143,883 1,543,287 SOURCES&REVENUES Property Tax 25,442,189 12,475,000 967,189 12,000,000 Sales Tax 23,099,933 12,818,683 10,281,250 Bond Proceeds 37,960,000 1,850,000 12,360,000 Charges for Services 16,940,332 1,886,221 392,410 Development and Permit Fees 2,292,691 2,292,691 Parks and Rec Fees 2,190,746 2,190,746 Franchise Fees 5,142,035 5,142,035 Grants 233,850 63,350 135,500 Interest 407,635 80,610 75,000 2,000 Utility Revenue 113,344,441 7,181,300 Capital Recovery Fee 5,367,300 Special Improvement Fee 205,000 Other Revenue 42,773,877 3,508,328 8,038,543 8,475,000 Interfund Transfers ROI,Etc.19,667,637 8,505,241 1,763,410 2,916,878 Total Revenues 295,067,665 56,063,595 23,508,912 20,910,000 14,918,878 USES &EXPENSES Personnel 59,532,173 32,562,365 2,023,027 Operating 119,183,828 22,048,271 3,947,658 Capital 106,073,710 1,437,293 20,891,400 25,065,883 Debt Payments 27,917,813 3,742,056 14,804,714 Debt Issuance Costs 20,800 Interfund Transfers 13,052,523 1,444,716 903,180 1,988,000 Total Uses &Expenses 325,780,846 57,492,644 31,507,321 27,053,883 14,804,714 Ending Fund Balance /Working Capital 40,432,085 8,527,730 7,131,635 1,657,451 RESERVATIONS Arterial Reservation 675,000 675,000 Contingency 21,871,128 8,000,000 2,035,938 1,462,911 Economic Stability 500,000 500,000 Maintenance Contingency 25,000 25,000 Perpetual Reserve 3,250,000 3,250,000 Rate Stabilization/Credit Reserve 5,762,280 IBNR Re s erve 631,140 Available Fund Balance /Working Capital 7,717,537 27,730 1,145,697 194,540 GOVERNMENTAL FUND TYPES (1)Includes Airport &Stormwater Drainage (2)Includes debt service payments on behalf of GTEC offset by transfer from GTEC (3)Includes debt service payments on behalf of GEDCO offset by transfer from GEDCO 42 FY2017 Annual Budget Total Budget Electric Fund Water Fund Other Enterprise Funds Internal Service Funds Beginning Fund Balances / Working Capital 71,170,267 6,436,145 24,911,799 1,598,357 5,449,972 SOURCES&REVENUES Property Tax 25,442,189 Sales Tax 23,099,933 Bond Proceeds 37,960,000 3,750,000 20,000,000 Charges for Services 16,940,332 14,661,701 Development and Permit Fees 2,292,691 Pa rks and Rec Fees 2,190,746 Franchise Fees 5,142,035 Grants 233,850 35,000 Interest 407,635 18,100 199,975 4,950 27,000 Utility Revenue 113,344,441 65,018,216 37,836,975 3,307,950 Capital Recovery Fee 5,367,300 5,367,300 Special Improvement Fee 205,000 205,000 Other Revenue 42,773,877 1,745,000 3,147,088 3,579,993 14,279,925 Interfund Tr ansfers ROI,Etc.19,667,637 115,839 6,366,269 Total Revenues 295,067,665 70,531,316 66,872,177 6,927,893 35,334,895 USES &EXPENSES Personnel 59,532,173 6,884,498 4,672,141 1,048,120 12,342,023 Operating 119,183,828 46,369,955 22,790,074 4,500,391 19,527,479 Capital 106,073,710 5,232,000 48,258,400 976,000 4,212,734 Debt Payments 27,917,813 3,462,471 5,182,487 726,085 Debt Issuance Costs 20,800 16,800 4,000 Interfund Transfers 13,052,523 5,365,645 2,718,425 607,557 25,000 To t al Uses &Expenses 325,780,846 67,331,369 83,621,527 7,862,153 36,107,236 Ending Fund Balance /Working Capital 40,432,085 9,611,092 8,162,449 664,097 4,677,631 RESERVATIONS Arterial Reservation 675,000 Contingency 21,871,128 5,000,000 5,000,000 372,279 Economic Stability 500,000 Maintenance Contingency 25,000 Perpetual Reserve 3,250,000 Rate Stabilization/Credit Reserve 5,762,280 4,500,000 1,262,280 IBNR Reserve 631,140 631,140 Available Fund Balance /Working Capital 7,717,537 111,092 3,162,449 291,818 2,784,211 PROPRIETARY FUND TYPES 43 FY2017 Annual Budget TOTAL BUDGET All Funds GOVERNMENTAL FUNDS PROPRIETARY FUNDS INTERNAL SERVICE FUNDS SPECIAL REVENUE FUNDS OTHER ENTERPRISE FUNDS DEBT SERVICE FUND GENERAL FUND ELECTRIC FUND CAPITAL PROJECTS FUND FUND STRUCTURE The City uses fund accounting,a system in which accounts are organized on the basis of fund and each fund is considered to be a separate accounting entity.All funds,both governmental and proprietary,are subject to appropriation. Basis of Accounting:use the modified accrual basis of accounting.Revenues are recognized when they become available and measurable.Expenditures are recognized in the accounting period in which they are incurred. use the full accrual basis of accounting.Revenues are recognized when they are earned and measurable. Expenses are recognized when they are indurred regardless of timing or related cash flows. WATER FUND 44