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HomeMy WebLinkAboutBudget in BriefFiscal Year 2018 BUDGET IN BRIEF Over the past five years, U.S. census data shows Georgetown has grown by over 40%. With growth comes the reality of increased demands for fundamental City services like public safety, transportation, and utilities. The FY2018 Budget was developed to meet these service level demands. In this budget the City is funding the first fixed route bus system, GoGeo! Additional investments in mobility include funding for FM1460, FM971, and the creation of Rivery Extension, which provides a key east west alternative to Williams Drive. Major investments in public safety include the construction of Fire Station 6 and the land acquisition and design of Fire Station 7. Two new police patrol officers and a school resource officer sergeant for Georgetown ISD are also featured in the budget. In addition to mobility and public safety investments, the City is also investing in quality of life services. In late spring 2018, the City will open the 525 acre Garey Park, which features a playground, splash pad, equestrian area, dog park and event venue. Phase II improvements in San Gabriel Park are also budgeted this year. The budget funds a high quality of life in our community and proactively invests for future growth. Council’s tradition of conservative financial stewardship guided the development of the budget and the setting of the property tax rate. For FY2018, Georgetown’s property tax rate is the lowest of the top ten most populated cities in the region. All Funds FY2018 Base FY2018 Changes FY2018 Budget Electric 78,862,928 276,377 79,139,305 General Capital Projects 48,551,383 - 48,551,383 General Debt Service 16,621,744 - 16,621,744 General Fund 60,200,285 3,046,337 63,246,622 Internal Service Funds 39,089,330 1,965,903 41,055,233 Other Enterprise Funds 7,776,010 25,772 7,801,782 Special Revenue Funds 30,099,146 610,475 30,709,621 Water 49,094,406 607,574 49,701,980 Total Budget 330,295,232 6,532,438 336,827,670 Making History in a Historic Town City Manager David Morgan Economic Activity Sales tax revenue is budgeted at $26.31 million, which is 4% over year -end projection. Financial modeling indicates the growth rate seen in the previous year will continue into FY2018. Increases in sales tax rev- enue are being driven by growth in the retail, food, and information sectors. Overall the City has seen increased sales tax over the past five years. 21% 11% 8% 4% 49% 7%Other Food Information Manufacturing Retail Wholesale Did You Know? A portion of sales tax revenues are used to fund the City’s 4A and 4B corporations. These entities help spark economic activity by building roads, developing infrastructure, and negotiating incentive packages to help move businesses to Georgetown. The most recent Citizen Survey identified mobility as a key concern in Georgetown. We listened, and that is why this budget includes $21 million in voter-approved road improvements and over $4 million for road maintenance and repairs. $15 million will fund the extension of Rivery Boulevard and Northwest Boulevard Bridge, a project that will create a key east-west alternative to Williams Drive. We’re also proud to be launching the city’s first fixed-route bus system, GoGeo, with routes to key destinations in the city. ADDRESSING MOBILITY AND BUILDING FOR THE FUTUE Did You Know? A portion of sales tax is reserved exclusively for road maintenance. In this year’s budget over $3.95 million is budgeted for road maintenance from sales tax. Keeping Georgetown Moving The Police Department will add two Patrol Officers and one School Resource Officer. Fire improvements include replacement of breathing equipment and funds for the Promotional Assessment Center to help retain quality & dedicated employees. FY2018 BUDGET HIGHLIGHTS PUBLIC SAFETY In 2016, the City of Georgetown Fire Department began Emergency Medical Transports. The move to provide EMS service was based on the idea that the department could provide a seamless and continuous level of care from first response to hospital delivery. On average, the department is responding to over 20 calls a day and transporting nearly 14 people a day. In total it is expected that the department will transport over 5,000 people in FY2018. Lastly, financial modeling is projecting the EMS fund to recoup all of the startup cost associated with the program within the next 2 to 3 years. UPDATE OF EMS TRANSPORTS Did You Know? In the most recent Citizen Survey, 95% of residents thought Police Protective Service were “good” or “excellent”, while 98% thought Fire & EMS Services were “good” or “excellent”. Keeping Georgetown Safe Our award winning Parks and Trails system is a large part of the quality of life that draws people to visit, work, and live in Georgetown. That is why they are a major focus this year with the opening of the 525-acre Garey Park, which is the result of a generous donation by Jack Garey & the Garey family. The park will feature an event center, equestrian facilities, and dog parks, amongst other park antimonites. In addition to Garey Park, the budget includes funds for phase II of improvements to San Gabriel Park. Phase I is scheduled to be completed this year. GAREY PARK AND SAN GABRIEL IMPROVMENTS Keeping Georgetown Fun Did You Know? In the most recent Citizen Survey, 90% thought Parks and Recreation Services in the City were “good” or “excellent”. Mr. Jack Garey Keeping Georgetown Running Water and Electric Operating Improvements One of the main goals of the FY2018 Budget is to improve the City’s electric and water services. These improvements include personnel ad- ditions, equipment upgrades, and capital improvement projects. The FY2018 Budget features three new operating improvements to the Water Services Fund. First, to keep up with customer and system growth, two technicians will be added to the Water Service Crew. Fur- ther, the City plans to add a Hydrant Testing Truck to improve timely fire hydrant maintenance and increase leak detection activities. Lastly, Georgetown’s water meters will be converted to an automated system to reduce metering technician trips. The budget plans to improve electric utility services through the addi- tion of a meter technician, testing equipment, and an electric rate study. The meter technician will provide quality checks on metering equipment and new installations. The addition of substation testing equipment will allow current staff to perform mandatory reliability testing. The City has relied on contractors to perform these tests in the past. The purchase of this equipment will allow the City to save $34,000 annually in contractor payments. In addition to a meter technician and testing equipment, the City plans to review electricity rates. This study will update the projected future rates, as well as anticipate the need for future rate stabilization reserve increases. Water and Electric Capital Improvements In addition to operating improvements, the City will implement several electric and water capital improvement projects. The electric CIP totals $6,537,000 . Projects include $3,000,000 for new developments, with the remaining balance going towards street light im- provements and fiber optic installations. The water CIP totals $7,150,000. Projects include the expansion of the S. Lake Water Treatment Plant and the replacement of the Braun elevated storage tank . Full details of the FY2018 Budget are available at www.georgetown.org.