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Home My WebLink About08 Special Revenue Funds 2017 FY2017 Annual Budget SPECIAL REVENUE FUNDS Red Poppy Festival 2016 129 FY2017 Annual Budget SPECIAL REVENUE FUNDS Special Revenue Funds Overview ............131 Convention &Visitors Bureau..................136 Fire Paramedics ........................................138 Tax Increment Reinvestment Zones ........140 GEDCO Budget .........................................144 GTEC Budget ............................................146 NEW POSITIONS FY2017 EMS Fund Medical Health &Fitness Coordinator ..0.5 Paramedic/Firefighter ..............................3 TOTAL NEW POSITIONS FY2017.......................3.5 130 FY2017 Annual Budget Special Revenue Funds Beginning Fund Balance FY2017 Revenues FY2017 Expenditures Ending Fund Balance 201CVB &Poppy Fest 578,306 1,394,500 1,071,602 901,204 203Street Maintenance Tax 1,657,581 2,947,500 3,325,000 1,280,081 212Permitting 59,052 90,060 85,000 64,112 215CDBG 135,500 135,500 225Tree Fund 268,178 100,300 250,000 118,478 226Main Street 117,879 168,200 253,000 33,079 227Li brary Restricted 102,318 90,200 170,000 22,518 228Parks Restricted 162,539 220,200 382,739 229Parkland Dedication 203,728 69,500 180,000 93,228 231Cemetery 399,673 144,000 211,000 332,673 232Court Fees 35,868 36,066 1,800 70,134 233Juvenile (17,090)81,275 64,185 234Village PID 748,780 335,565 483,997 600,348 235Wolf Ranch PID 439 500,000 500,439 242Fire Billing 58,262 113,100 141,735 29,627 244 Paramedic (853,003)2,205,096 2,078,433 (726,340) 251Conservation 390,534 292,000 304,647 377,887 260Council Discretionary 185,045 750,000 935,045 263PEG Fee 175,589 140,000 315,589 271Police Seizures 84,594 83,194 1,400 272Police Grant 273Abandoned Vehicles 37,054 37,054 277Animal Services 169,738 15,000 15,000 169,738 293Downtown TIRZ 4,570 216,100 200,000 20,670 294 Rivery TIRZ 83,250 476,215 341,274 218,191 295Gateway TIRZ 127,639 36,858 24,500 139,997 296South Georgetown TIRZ 71,688 130,649 51,267 151,070 400GTEC 5,262,150 11,233,557 14,564,399 1,931,308 420GEDCO 5,015,684 1,587,471 6,235,967 367,188 SPECIAL REVENUE FUNDS OVERVIEW A Special Revenue Fund (SRF)is used to account for proceeds of specific revenue sources that are also legally restricted to expenditure for specified purposes.The City of Georgetown utilizes multiple SRF’s to provide an extra level of transparency and accountability to the taxpayers. 201 CVB/TOURISM FUND The Tourism Fund collects a 7%Hotel Occupancy Tax for hotel stays within the City.Eligible expenses are defined by state law and include operating a visitor center,promotion of local cultural sites,and historic preservation. 203 STREETS ¼CENT SALES TAX This fund is used to account for the receipt and expenditure of revenues collected from the ¼cent sales tax approved by the citizens in November 2001 under Texas House Bill 445.The funds are required to be spent on the maintenance of streets that were in existence at the time of adoption of the tax.This tax was reauthorized by voters in November of 2006,2010,and 2014. Projects for FY2017 are included in the Capital Improvement Project section of this document.The Arterial Reserve is $675,000 in 2017. 131 FY2017 Annual Budget 212 PERMITTING FUND This funding source is for MyPermitNow (MPN)which is a comprehensive electronic permit,inspection,and tracking system for all types of construction projects.This system allows for efficient and improved customer service for both the internal and external customers by providing real time online permit information to customers. This program is funded by the technology fees which are charged to the users. 215 COMMUNITY DEVELOPMENT BLOCK GRANT FUND The CDBG Fund is financed through the US Department of Housing and Urban Affairs Division.CDBG funds are administered through Williamson County and fund infrastructure improvements,such as sidewalks and wastewater lines in eligible geographic areas. 225 TREE FUND The Tree Fund is financed by fees assessed when development projects remove trees.These funds are used to plant,prune,irrigate,maintain,and fund other associated tree activities in City parks,or other Cityowned property. 226 MAIN STREET FAÇADE FUND The Main Street Façade accounts for grants distributed by the Main Street Board for the improvement of commercial façades in the Downtown Overlay District.Revenue sources include General Fund contributions and fund raising efforts by the Main Street Board. Georgetown Utility Systems continues to sponsor 100%renewable energy for the Holiday Lights program. 227 LIBRARY FUND The Library Fund is used to account for the receipt and expenditure of restricted donations such as memorials and gifts for a designated library purchase or program. 228 PARKS RESTRICTED FUND This fund is used to account for transfers in,donations,and grants. Funds are used for equipment replacement for parks. 229 PARKLAND DEDICATION The Parkland Dedication SRF was established through the Parkland Dedication Ordinance.When new residential developments are built,the developer is required to dedicate land or pay a fee in lieu of dedication.When a fee is paid,the money is set aside to be used in a restricted zone near the development.The funds must be used for parks and recreation improvements such as new playgrounds, new parks,new trails,or to buy parkland. 132 FY2017 Annual Budget 231 CEMETERY FUND The Cemetery Fund pays for the ongoing maintenance of the City's cemeteries.Revenues are generated from plot sales and maintenance fees.The City Council has also committed to transferring money in from the General Fund to plan for longterm maintenance.In FY2017,the Perpetual Reserve is $325,000. 232 COURT FUNDS The Court Security Fund is used to account for the receipt and expenditure of court costs related to security personnel.The Court Technology Fund is used to finance the purchase or maintenance of technological enhancements for the Municipal Court.Child Safety funds are used to fund school crossing guard programs or other safety activities.All funds are governed by State statute. 233 JUVENILE FUND The Juvenile Case Manager Fund is used for the receipt and expenditure of a court fee that is collected for a juvenile case manager.The fund is to finance the salary,benefits,training,travel expenses,office supplies,and other necessary expenses of the juvenile case manager,as outlined by statute. 235 WOLF RANCH PID The City entered into a PID Assessment Agreement with Simon in order to provide repayment of debt service incurred by the issuance of $10.5 million in sales tax revenue bonds to complete the IH 35 frontage in front of the development. 242 FIRE BILLING FUND Sources of this fund include billing revenue from inspections and billing insurance carriers for fire protection services.These funds are used to purchase fire equipment,special needs,and public education. 244 EMS PARAMEDIC FUND The EMS Paramedic Fund is used to track costs and related revenues associated with the City’s operation of the EMS program started October 2015.Projections indicate this service will more fully recover costs as collection practices are refined. 251 CONSERVATION FUND The Conservation SRF is a fund dedicated to energy efficiency programs and projects,and is supported solely by the $1.00 Conservation Fee charged monthly to all City of Georgetown electric customers on their utility bills.This fee is used to maintain compliance with House Bill 3693,which calls for enhancement of existing energy efficiency programs and strengthening of statutory requirements,as well as,to promote more electric demand management by customers.Specific programs supported by the Conservation SRF include Home Energy Audits,Weatherization Programs,and the LED Light Bulb Exchange Program. 133 FY2017 Annual Budget 260 CITY COUNCIL DISCRETIONARY FUND This SRF was created in July of 2015 and includes projected year end General Fund balance not allocated in the budget.These funds will be expended at the direction of the City Council for specific purposes. 263 PEG FEE FUND The Public,Education,and Government (PEG)Fund is used to account for the receipt and expenditure of PEG fees collected through cable providers that are legally restricted for capital expenditures related to the City's cable access channel. 271 POLICE SEIZURES FUND This fund is used to account for properties and revenues seized by the Georgetown Police Department.Federal and Texas State Law requires the funds only be used for a defined set of law enforcement purposes.Permitted uses of funds include law enforcement training, crime prevention awareness programs,asset accounting and tracking,and witnessrelated costs.Purchases of police equipment and facilities equipment are also permitted under state law. 272 POLICE GRANTS FUND This fund is used to account for any related Police grants that may be authorized and expended during the fiscal year.Currently,the STEP grant is passed through at zero balance. 273 ABANDONED VEHICLE FUND This fund is used to track costs and related revenues for vehicles that have been impounded and are later auctioned. 277 ANIMAL SERVICES This fund is for donations received from various sources.These funds are utilized for items and projects that are related to the capital and service needs of the animal shelter. 293 DOWNTOWN TIRZ This TIRZ was created by Ordinance No.200477 and covers approximately 66(+/)acres,located entirely in Williamson County and within the corporate limits of the City.This fund is used to account for the development and redevelopment of downtown Georgetown into a mixed use,pedestrian orientated environment,consistent with the goals of the City’s Downtown Master Plan. 134 FY2017 Annual Budget 294 RIVERY TIRZ This TIRZ was created by Ordinance No.201191,and the duration is through December 31,2041.This fund is to help provide a financing vehicle necessary to facilitate a program of public improvements to allow and encourage the development of a hotel and conference center,enhance the overall park experience,the establishment of single and multifamily residential development,and commercial/ retail space. 295 GATEWAY TIRZ This TIRZ was created by Ordinance No.2006 204,and the duration is through December 31,2031.This fund is to help finance a program of public improvements to allow and encourage the development and redevelopment of the Williams Drive Gateway area into a mixed use,pedestrian orientated environment,consistent with the goals of the City’s Williams Drive Gateway Redevelopment Plan. 296 SOUTH GEORGETOWN TIRZ This TIRZ was created by Ordinance No.2014 31 and the duration is through December 31,2044.The fund will be used to account for public infrastructure necessary to encourage high quality commercial/retail development at the intersection of IH35 and Westinghouse Road,which is seen as the next major node as growth continues to move north from Round Rock. 135 FY2017 Annual Budget CONVENTION & VISITORS BUREAU MAJOR DEPARTMENT GOALS &STRATEGIES FOR FY2017 Redesign VisitGeorgetown.com and RedPoppyFestival.com websites to maintain a unified message promoting Georgetown as a signature destination Develop a promotional tourism video to increase the visibility of Georgetown as a tourist and meeting/conference destination Continue to work towards an increased Red Poppy Festival zero waste program goal of 90%or greater waste diversion by 2021 Expand Visitors Center Gift Shop to include additional Georgetown and Texas Souvenirs and implement new Point of Sale System Conceptualize and implement a Hospitality Training Program to ensure any visit to the City,whether for business or pleasure,is a successful and memorable one Participate in travel/group business tradeshows to promote Georgetown as a meeting and conference destination Host Familiarization (FAM)trips for meeting planners to showcase lodging and meeting facilities Notable Budget Item(s) Wastewater Plant O&M (8.5 FTE’s) TOURISM FUND CONVENTION &VISITORS BUREAU 4.5 FTES MAJOR DEPARTMENT ACCOMPLISHMENTS FOR FY2016 Assisted visitors and potential visitors to the area by offering comprehensive visitor information and promotional services Converted Visitors Center staffing from volunteers to paid staff Developed and implemented strategic Sales Marketing Plan to build awareness of and promote Georgetown as a meeting and conference destination Partnered with hoteliers to host Familiarization (FAM)trips for meeting planners to showcase new lodging and meeting facilities Worked with a Public Relations Professional to promote Georgetown in unique,creative,and authentic ways Collaborated with Environmental Services to implement a zero waste program for the Red Poppy Festival Coordinated the 17th Annual Red Poppy Festival,Music on the Square Summer Concert Series,Lighting of the Square,and Christmas Stroll Parade Administered Best of Georgetown Awards Contest Continued to assist the Parks &Recreation Department in promoting Georgetown as a venue for sports activities and tournaments and distributing Georgetown promotional items and tourist information at these events DEPARTMENT DESCRIPTION The Georgetown Convention and Visitors Bureau (CVB)attracts leisure and business travelers to the Georgetown area to experience and enjoy our history,culture,and attractions.This Department also strives to further strengthen our City’s image as a Texas tourist destination.The CVB promotes economic diversity and the region’s quality of life.The Department manages advertising,promotion, and solicitation efforts to market the City of Georgetown as a place for meetings,group tours,tourists,and day trip shoppers.The Department provides a positive economic impact on the community by bringing sales tax and hotel occupancy tax (HOT) dollars into the city which increases the total revenue of local businesses and improves the overall economic climate of Georgetown. Notable Budget Item(s) Conference Recruitment $50,000 Economic Impact Study for the Arts $25,000 136 FY2017 Annual Budget DEPARTMENTAL BUDGET DEPARTMENTAL PERFORMANCE MEASURES A low is an indicator of the effectiveness of our efforts to market Georgetown as a signature destination,and ensure we are netting ample hotel occupancy tax revnues.With the opening of the Sheraton in July 2016,Georgetown hotel inventory increased significantly while maintaining a low vacancy rate. Increasing hotel room inventories and decreasing vacancy factors demonstrates a healthy tourism market. AWARDS/ACCREDITATIONS Explore Georgetown,Texas mobile app. The Most Beautiful Town Square in Texas. FY2015 Actual FY2016 Budget Fy2016 Projected FY2017 Base Budget FY2017 Changes FY2017 Budget 0208CVB Personnel 250,363 336,778 336,778 359,570 359,570 O&M 636,400 599,347 607,441 501,532 210,500 712,032 Capital 12,500 100,000 25,000 Total Departmental Budget 899,263 1,036,125 969,219 861,102 210,500 1,071,602 137 FY2017 Annual Budget FIRE PARAMEDICS SPECIAL REVENUE FUND MAJOR DEPARTMENT GOALS &STRATEGIES FOR FY2017 Begin hybrid EMTParamdic course at Central Texas College Train new Fire Recruits through EMS academy Continue to host regional EMS training &certify American Heart Association (AHA)CPR/First Aid instructors Implement clinical affiliation with Central Texas College for military re entry class and with TEEX EMT Paramedic course Certify additional Department of State Halth Services (DSHS)licensed EMS instructors Notable Budget Item(s) Wastewater Plant O&M (8.5 FTE’s) PARAMEDIC FUND EMS 18.5 FTES MAJOR DEPARTMENT ACCOMPLISHMENTS FOR FY2016 Received Department of State Health Services (DSHS)licensed EMS instructor certifications –4 memebers Hired 8 EMS Academy and ALS credentialed Firefighters/Paramedics Implemented Georgetown Fire Department EMS QA review committee Provided dedicated EMS stand by services for GISD/UIL sanctioned events Obtained approval to function as a Candidate Physical Ability Test (CPAT) site Hosted regional EMS training Received certification as Department of State Health Services (DSHS) Continuing Education program DEPARTMENT DESCRIPTION The EMS Department is focused on providing pre hospital services that include treatment,transport,and mobile integrated health services. The goal of this program is to improve patient outcomes after acute medical emergencies and reduce preventable diseases through education and outreach. The EMS program began service on Oct 1,2015. Notable Budget Item(s) EMS Compliance Officer 3 Paramedics/Firefighters 138 FY2017 Annual Budget DEPARTMENTAL BUDGET DEPARTMENTAL PERFORMANCE MEASURES Every month the deparment monitors , ,and the of the population served.Key measurements for demographics include age,type of insurance,and level of service. In emergency medical transports there are two predominant types of service;an advanved life support (ALS)and basic life support (BLS).The Department measures types of service as a tool to forecast revenue projections,ensure effective service levels,and as a guideline for recognizing workload and future growth. As a new program to the City,a holistic approach is used to measure the performance outcomes and financial metrics of the Paramedic Program.It is the goal of this program to provide exceptional care and service while maintaining a cost effective business model. :In the spring of 2016 the City of Georgetown partnered with the Center for Research,Public Policy and Training (CRPPT)at Texas State University to conduct a citizen survey focusing on resident’s satisfaction of public services.When asked to rate the overall value of EMS services,the majority of respondents,97.2%,indicated EMS services to be good or excellent. FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base Budget FY2017 Changes FY2017 Budget 0448Paramedic Personnel 389,929 1,138,136 1,242,148 1,268,264 317,590 1,585,854 O&M 739,924 810,044 676,032 468,401 24,178 492,579 Capital 24,970 Total Departmental Budget 1,154,823 1,948,180 1,918,180 1,736,665 341,768 2,078,433 139 FY2017 Annual Budget TAX INCREMENT REINVESTMENT ZONES (TIRZ) DOWNTOWN TAX INCREMENT REINVESTMENT ZONE The Downtown Georgetown Tax Increment Reinvestment Zone (TIRZ)was created by Ordinance No.200477 The TIRZ covers approximately 66 acres,located entirely in Williamson County and within the corporate limits of the City,and is generally located around the courthouse square,south of the South San Gabriel River and north of University Blvd. The Zone facilitates a program of public improvements to allow and encourage the development and redevelopment of downtown Georgetown into a mixed use,pedestrian oriented environment,consistent with the goals of the City’s Downtown Master Plan. Public improvements eligible for the Zone include,but are not limited to,the construction of:sidewalks,cross walks and pedestrian crossing systems,storm sewers and drainage ponds,sanitary sewers,landscaping, streetscape,fountains,works of art,street furniture,plazas,squares,pedestrian malls,trails and other public spaces,parking lots and roadways,utility line relocation and installation,water system improvements,parks,and outdoor performance spaces,bicycle routes and facilities,public transportation projects,signage,and other related necessary or convenient public improvements. BOARD MEMBERS Rachael Jonrowe Councilmember District 6 Rusty Winkstern Downtown Business Owner Len Lester Downtown Business Owner David Kellerman Chair of Main Street Advisory Board Shelly Hargrove Main Street Manager WILLIAMSON COUNTY COURTHOUSE MONUMENT CAFE 140 FY2017 Annual Budget RIVERY PARK TAX INCREMENT REINVESTMENT ZONE The Rivery Park Tax Increment Reinvestment Zone (TIRZ)was created by Ordinance #200191,and the duration is through December 31,2041. The purpose of the TIRZ is to provide a financing vehicle necessary to facilitate a program of public improvements to allow and encourage the development of a 222room hotel having a AAA 3 Diamond Rating or a 2 Star Forbes Rating,a 16,000 square foot conference center,and a 336space public parking garage.Another purpose of the TIRZ is to make necessary improvements to increase accessibility to Rivery Park and construct amenities to enhance the park experience for visitors.Other development within the TIRZ is anticipated to include single and multifamily residential development along with commercial/retail space,as allowed by the PUD Ordinance.The tax increment generated within the TIRZ would be used to finance costs associated with the construction,maintenance,and repair of the Public Parking Garage,improvements in Rivery Park,public utilities within the TIRZ,public roadways (and related improvements)within and outside of the TIRZ boundaries,and other costs that meet the definition of “project costs”. BOARD MEMBERS Keith Brainard Councilmember District 2,Chair Dale Ross Mayor David Morgan City Manager Leigh Wallace Finance Director Jeff Novak Business Owner/Brae Development Partners Ronald Swain Southwestern University Valerie Covey County Commissioner Precinct 3 Marsha Farney Representative for Texas House District 20 Charles Schwertner Senator for Texas Senate District 5 SHERATON CONFERENCE CENTER SITE RIVERY APARTMENTS 141 FY2017 Annual Budget SOUTH GEORGETOWN TAX INCREMENT REINVESTMENT ZONE The South Georgetown Tax Increment Reinvestment Zone (TIRZ)was created by Ordinance #201431 and the duration is through December 31,2044. The Zone was created to fund public infrastructure necessary to encourage highquality commercial/retail development at the intersection of IH35 and Westinghouse Road,which is seen as the next major node as growth continues to move north from Round Rock.The proposed TIRZ is approximately 595 undeveloped acres along Westinghouse Road between IH35 and FM1460,and includes not only the commercial areas directly behind the Bass Pro Shop,but also proposed residential development adjacent to Teravista. The intersection at Westinghouse and IH35 is proposed to be a major City job center with offices,mixed use retail, and other related services (including residential)in a campusstyle development. In order to accelerate the development of this area,the City moved forward with proactively building the necessary infrastructure improvements thus,encouraging capital investment.The revenues generated within this TIRZ will then reimburse the City's utility for cost of upfront improvements. The TIRZ is expected to be in place until December 31,2044,or when all project costs (not to exceed $50M)have been reimbursed (including any bonds issued to fund these projects).There are currently 37 different parcels with an assessed value (per 2014)of approximately $18.5M which will become the “floor”value for the TIRZ.At full build out,the assessed valuation is estimated to exceed $573M.Estimated project costs are $48.7M and include sewer, water,electric,and road improvements.A feasibility analysis is included with the ordinance.City staff will be working with developers and other entities to further leverage the TIRZ revenues in order to ensure and expedite construction of the improvements. BOARD MEMBERS Dale Ross Mayor,Chair David Morgan City Manager Glenn Dishong City Utility Director Sofia Nelson City Planning Director Buddy Yaeger GUS Advisory Board Chair Anna Eby Councilmember District 1 Bill Connor GTEC President ANATOLE APARTMENTS 142 FY2017 Annual Budget WILLIAMS DRIVE GATEWAY TAX INCREMENT REINVESTMENT ZONE Williams Drive Gateway Tax Increment Reinvestment Zone (TIRZ)was created by Ordinance No.2006104 and the duration is through December 31,2031.The TIRZ was created to facilitate a program of public improvements to allow and encourage the development and redevelopment of the Williams Drive Gateway area into a mixeduse, pedestrian oriented environment consistent with the goals of the City’s Williams Drive Gateway Redevelopment Plan.Public improvements scheduled for the Zone include,but are not limited to,the construction of:sidewalks, cross walks and pedestrian crossing systems,storm sewers and drainage ponds,sanitary sewers,landscaping, streetscape,fountains,works of art,and street furniture,plazas,squares,pedestrian malls,trails and other public spaces,parking lots and roadways,utility line relocation and installation,water system improvements parks,and outdoor performance spaces,bicycle routes and facilities,public transportation projects,signage,and other related necessary or convenient public improvements. BOARD MEMBERS Dale Ross Mayor,Chair David Morgan City Manager Steve West Chief Financial Officer,GISD Rachael Jonrowe Councilmember District 6 George Betondo Property/Restaurant Owner GISD ADMINISTRATION ANNEX BUILDING 143 FY2017 Annual Budget GEORGETOWN ECONOMIC DEVELOPMENT CORPORATION (GEDCO) MEETING DATE 3RD MONDAY OF EACH MONTH AT 3:30PM CITY COUNCIL CHAMBERS,101 EAST 7TH STREET,GEORGETOWN,TEXAS BOARD ROSTER Hugh Brown,President .........................................term ends 2/2018 Jeffrey Parker,Vice President ...............................term ends 2/2017 Kevin Kelly,Secretary ............................................term ends 2/2018 Councilmember Steve Fought ..............................term ends 6/2017 Councilmember Rachael Jonrowe ........................term ends 6/2017 Steve Klein .............................................................term ends 2/2018 Bill Mateja .............................................................term ends 2/2017 BOARD LIAISON Tina Dunbar Administrative Assistant to the Economic Development Director Tina.Dunbar@Georgetown.org (512)9303546 WEBSITE(S) https://government.georgetown.org/georgetown economic development corporation gedco/ https://invest.georgetown.org/ DEPARTMENT DESCRIPTION The Georgetown Economic Development Corporation considers requests and grants economic development funds as authorized and defined by the Internal Revenue Code of 1986,Section 4A,leading to the creation or retention of primary jobs and/or provision of significant capital investment which benefits the community of Georgetown. Three members are Councilmembers,and four members are citizens at large. 144 FY2017 Annual Budget FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Beginning Fund Balance 4,604,917 5,370,479 5,378,901 5,015,684 5,015,684 Revenues FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Bond Proceeds 3,100,000 3,118,747 Interest and Other 67,664 7,500 69,177 70,721 70,721 Sales Tax 1,311,553 1,345,313 1,406,750 1,468,750 1,468,750 Transfers Lease Revenue 46,028 48,000 48,000 48,000 48,000 Grand Total 1,425,245 4,500,813 4,642,674 1,587,471 1,587,471 Expenses FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Debt Service 87,500 18,224 211,463 211,463 Operating 285,671 304,000 174,324 298,343 298,343 Transfer 99,783 106,694 106,694 115,839 115,839 Eco Devo Proj 269,000 9,036,770 4,706,649 5,586,322 24,000 5,610,322 Grand Total 654,454 9,534,964 5,005,891 6,211,967 24,000 6,235,967 FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Ending Fund Balance 5,375,708 336,328 5,015,684 391,188 (24,000)367,188 Reserved Rivery Project 1,500,000 CAFR Adjustment 3,193 Contingency 343,219 336,328 351,688 367,188 367,188 Available Fund Balance 3,529,296 4,663,996 24,000 (24,000) 145 FY2017 Annual Budget GEORGETOWN TRANSPORTATION ENHANCEMENT CORP. (GTEC) MEETING DATE 3RD WEDNESDAY OF EACH MONTH AT 3:30PM GEORGETOWN MUNICIPAL COMPLEX,300 1 INDUSTRIAL AVENUE,GEORGETOWN,TEXAS BOARD ROSTER Tom Crawford,President ......................................term ends 2/2017 Jay Warren,Vice President ...................................term ends 2/2018 Joe Pondrom,Secretary ........................................term ends 2/2017 Councilmember Ty Gipson....................................term ends 6/2017 Councilmember John Hesser ................................term ends 6/2017 Colin McGahey ......................................................term ends 2/2018 Leo Wood ..............................................................term ends 2/2016 BOARD LIAISON Jana Kern Administrative Assistant,Georgetown Utility Systems Jana.Kern@Georgetown.org (512)9318473 WEBSITE https://government.georgetown.org/georgetown transportation enhancement corporation/ DEPARTMENT DESCRIPTION The purpose of this Sales Tax Corporation is to promote economic and community development within the City and the State of Texas through the payment of costs for streets,roads,drainage,and other related transportation system improvements,including the payment of maintenance and operating expenses associated with such authorized projects. 146 FY2017 Annual Budget FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Beginning Fund Balance 13,347,960 8,592,116 8,528,267 5,262,150 5,262,150 Revenues FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Bond Proceeds 7,755,000 17,500,000 11,659,167 1,850,000 1,850,000 Grant Revenue 658,985 450,000 450,000 Interest 52,295 15,000 36,000 50,000 50,000 Interlocal Agreement 93,960 2,905,356 2,905,356 Misc Revenue 189,672 Sales Tax 5,246,213 5,381,250 5,625,000 5,875,000 5,875,000 Transfer In,SRF 489,915 500,000 500,000 553,201 553,201 Grand Total 14,486,039 23,846,250 18,270,167 11,233,557 11,233,557 Expenses FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Admin &Other 343,901 376,132 124,901 330,895 330,895 Debt Service 10,305,265 2,572,312 2,638,581 3,414,754 3,414,754 New Transportation Streets 8,656,826 26,333,831 18,772,802 10,818,750 10,818,750 Grand Total 19,305,992 29,282,275 21,536,284 14,564,399 14,564,399 FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget Ending Fund Balance 8,528,006 3,156,091 5,262,150 1,931,308 1,931,308 CAFR Adjustment 260 Contingency 1,501,000 1,474,063 1,474,063 1,468,750 1,468,750 Available Fund Balance 7,027,267 1,682,028 3,788,087 462,558 462,558 147 FY2017 Annual Budget THIS PAGE INTENTIONALLY LEFT BLANK. 148