HomeMy WebLinkAbout2nd Quarter Report
Q2 2018
F R I R
F Q E M ,
FINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended March 31, 2018
Table of Contents
Executive Summary .................................................................................................................................... 1-5
General Fund Schedule ................................................................................................................................. 6
Electric Fund Schedule .................................................................................................................................. 7
Water Services Fund Schedule ...................................................................................................................... 8
Joint Services Fund Schedule ......................................................................................................................... 9
Council Discretionary Fund Schedule .......................................................................................................... 10
Convention & Visitors Bureau Fund Schedule ............................................................................................. 11
Paramedic Fund Schedule ........................................................................................................................... 12
Airport Fund Schedule ................................................................................................................................. 13
Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 14
Georgetown Economic Development Corporation Fund Schedule ............................................................. 15
Quarterly Investment Report - City ........................................................................................................ 16-30
Quarterly Investment Report - GTEC ...................................................................................................... 31-36
Quarterly Investment Report - GEDCO ................................................................................................... 37-42
Grant Applications ....................................................................................................................................... 43
Capital Improvement Projects ................................................................................................................ 44-47
Long-term Commitments and Other Unfunded Liabilities ..................................................................... 48-50
F FY2018 Quarterly Report
EXECUTIVE SUMMARY FOR THE QUARTER ENDED MARCH 31, 2018
I. QUARTERLY FINANCIAL ANALYSIS
GENERAL FUND REVENUES:
General Fund revenues collected for the second quarter of fiscal year 2018 are 7.3% ahead of fiscal year 2017. The
total revenue collected year to date (YTD) for the General Fund is $33.3 million.
The sales tax collections through March totaled $4.6 million,
or 32% of budget. Sales tax is two months in arrears. Sales
tax revenues are on target to meet the year-end projection
of $14.3 million. The growth in sales tax is driven by
increases in our core sectors of retail trade, food, and
information, which are positively impacted by population
growth.
Property tax revenues are typically received during the first
two quarters of the fiscal year, with the majority of the taxes
being received in December and January. The amount of
revenue is based on the assessed value and is estimated
using the County Assessor’s data. Any deviations from
estimates in this revenue stream are typically related to new
construction and delinquency rates. Property tax revenues
for the second quarter of 2018 are up 7.4%, or $925,000,
from the second quarter of last year.
The City collects franchise fees for electric, natural gas,
cable, and non-cellular telephone services. Through the
second quarter, franchise fee revenues total $2.7 million of
2018, an increase of 1.2% from the second quarter of 2017.
Franchise fees collections occur on a quarterly basis.
The City also collects a 3% franchise fee and a 7% return on
investment (ROI) fee from City owned utilities, which totaled
$3.8 million through the second quarter of the fiscal year.
Franchise fee and ROI collections are up 4.3% over this time
last year.
Environmental services revenues are up 19.6% from second
quarter of 2017. This increase is due to the growth in the
customer base and the implementation of new rates.
Development related revenue is up 10.6% over the prior
year. Year to date development applications are up 92% from last year.
Overall, General Fund primary revenues are strong in the second quarter of fiscal year 2018 and are higher than the
prior year.
0
20
40
60
80
100
120
140
160
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Building Permits
2014 2015 2016 2017 2018
$600,000
$700,000
$800,000
$900,000
$1,000,000
$1,100,000
$1,200,000
$1,300,000
OctNovDecJanFebMarAprMayJunJulAugSepSales Tax
2014 2015 2016 2017 2018
F FY2018 Quarterly Report
GENERAL FUND EXPENDITURES:
General Fund operating expenditures for the second quarter of fiscal year 2018 are 12.0% higher than the same
period in fiscal year 2017. An increase in expenses is primarily due to encumbered one-time programs, public safety
overtime, higher Internal Service Fund allocations, and the new program costs of Garey Park.
Total salaries and benefit expenditures through the second quarter were $17 million or 49.8% of budget. An
additional $12 million, or 46.0% of budget, was spent on operations.
Administration Services Division (Administrative Services, City Council, City Secretary, and Social Service Funding)
expenditures for the second quarter total $1.2 million, which represents 45% of budget. Year to date expenditures
for the Community Services (Parks and Rec., Library, and Communications) and Finance Division (Municipal Court)
total $5.2 million or 45% of budget. The Georgetown Utility System Division (Environmental Services, Inspections,
Public Works, and Streets) expenditures through the second quarter were $4.7 million or 42% of budget. Year to date
expenditures for Public Safety total $14.5 million, which represents 50.9% of budget. The fire department continues
to experience vacancies resulting in increased overtime expenses. Overall General Fund expenditures are within
budget and the fund can cover the 90-day Contingency Reserve, the Economic Stability Reserve, and Benefit Payout
Reserve.
UTILITY FUNDS:
Electric revenue through the second quarter of 2018 is $30.7 million, up 8.8% compared to the prior year’s second
quarter due to growth in the customer base and the impact of the power cost adjustment.
Water revenue is up 7.6% while wastewater revenue is up 4.4% compared to last year. The increases are due to
growth in the system and impact fees.
OTHER MAJOR FUNDS:
Hotel Occupancy Tax revenue is $637,000 year-to-date, an increase of 44.4% from the prior year due to the Sheraton
Hotel. Airport revenue is up 1.9% from the prior year, and includes fuel sales and lease revenue.
II. INVESTMENTS
The investment activity and strategies described in this report comply with the Public Funds Investment Act (PFIA),
the City’s investment policy, and generally accepted accounting principles. Activity for the second quarter of fiscal
year 2018 includes the maturing of financial institution deposits (CDs) and transfers to new CDs.
The City purchased CDs with two new banking institutions to increase diversity. The new banks we are investing with
are East West Bank and Wallis State Bank. Interest rates for money market accounts and CDs have continued to
increase due to the Federal Open Market Committee (FOMC) increasing the rate by .25% in March 18. The City will
continue soliciting the best rates to improve both diversity and yield.
The Investment Reports for the quarter end on March 31, 2018. The supporting schedules prepared by Valley View
Consulting, L.L.C. are included in the report. A summary of the investment balances as of March 31, 2018, compared
to the prior quarter, are shown below for the City, Georgetown Transportation Enhancement Corporation (GTEC),
and Georgetown Economic Development Corporation (GEDCO).
F FY2018 Quarterly Report
CITY GTEC GEDCO
12/31/17 3/31/18 12/31/17 3/31/18 12/31/17 3/31/18
Total cash and investments
$165,885,663 $173,516,846 $19,053,403 $19,387,468 $6,157,417 $6,339,643
Average Yield 1.30% 1.60% 1.39% 1.62% 1.23% 1.49%
The City’s strategy continues to be matching maturities with cash flow needs, while focusing on the investment
policy’s long-range goals. The City’s investment strategy is to “ladder” or stagger maturities, thus minimizing erratic
interest rate fluctuations.
City portfolio balances have increased in the last few years in direct correlation to the increase in contingency
reserves and debt proceeds issued for future capital improvement projects. The portfolio increased in the second
quarter due to collections of annual property tax. The City’s investment portfolio includes bank deposits, local
government investment pool balances, money market accounts, and financial institution deposits. All of these
investments carry insurance or an implied backing from the Federal Government. The collateral on all City
investments are monitored monthly to ensure the financial institutions carry minimum collateral of 102% of market
value of the City’s investments.
Currently, the City does not own any securities due to the market conditions for these types of investments. However,
the City has a safekeeping relationship with BBVA for future investment possibilities. Once the City begins purchasing
securities, the investment officers will obtain from a reliable source the current credit rating for each held investment
that has a PFIA-required minimum rating. All securities held by financial institutions as collateral on behalf of the City
have been reviewed and met PFIA-minimum rating criteria.
The City works closely with the City’s depository bank to find an average daily balance that is best to receive the
highest yield on the account. These balances earn credit against the fees charged by the bank versus earning interest
on these balances. Staff has looked at various options to maximize the best yield versus investment, and the decision
to change the depository collateral from securities to a letter of credit has increased our Earnings Credit Rate to .45
(plus 10 basis points). The excess earning allowance over fees has continued to increase over the last several months.
The City will continue to verify depository yield versus investment yield to achieve the best outcome.
The City's investment program is conducted to accomplish the objectives of safety, liquidity, public trust, and yield.
Each aspect is considered when making decisions regarding investments.
III. CAPITAL PROJECTS
The projects in the Capital Improvement Program (CIP) consist of infrastructure and related construction and do not
include small capital items such as furniture, equipment, and vehicle maintenance. Maintenance-type projects are
not capitalized as a fixed asset and are usually cash funded. Therefore, these projects are operational in nature and
are in the departmental operating budget. A year-to-date budget status for each of the approved projects is included
in the quarterly report.
PARKS
San Gabriel Park Improvements: A master plan for improvements to San Gabriel Park was completed in 2015. The
master plan proposed the improvements be completed in phases due to the high usage and the many events that
take place in the park. The groundbreaking for Phase 1 construction was held in March 2017. Weststar Construction
in Georgetown is the general contractor. Construction is expected to be completed in early 2018. Phase 1
F FY2018 Quarterly Report
improvements include spring restoration, pavilions, road realignment, play areas, restrooms, signage and parking.
Austin based RVi is currently designing San Gabriel Park Phase II which is expected to start construction in July 2018.
Garey Park: In 2004, Mr. and Mrs. Jack Garey announced they would donate their 525 acre ranch and $5 million to
the City of Georgetown for a public park. In 2008, the citizens passed a parks bond with $10 million dedicated for
the construction of Garey Park. A master plan was completed in 2006 that set the stage for how the park would be
developed. The ground breaking for Garey Park was held in March 2017. Prime Construction of Pflugerville is the
general contractor for renovation to Garey House and for site and civil construction. Project elements include a
playground, splash pad, dog park, equestrian arena, gatehouse, event area including Garey House and hiking and
equestrian trails. Grand opening of the park is scheduled for June 9, 2018.
TRANSPORTATION
Southwest Bypass: Construction is approximately 95% complete project-wide. The rails will be completed in May
2018 and the new roadway should be available to open in June 2018.
DOWNTOWN & COMMUNITY SERVICES
Downtown West: The City of Georgetown broke ground in November 2017 to start the renovation of two City
buildings that will be part of a civic campus for City government offices. The new civic campus will include a City Hall
and Council Chamber and Municipal Court Building as well as the existing Georgetown Public Library that opened in
2007, the Historic Light and Water Works office building, and a public parking lot on Eighth Street. The $13 million
project is funded by proceeds from the sale of City buildings, municipal bonds, and fee revenues. Construction should
be complete in 12 months. Demolition of the old library is complete and site utilities are moving forward.
Construction on several sidewalk improvement projects throughout the city began in May 2017. This was the first
round of sidewalk improvement projects identified in the adopted Sidewalk Master Plan and was funded in part by a
road bond approved by voters in May 2015. Work on the initially designed portion is complete and the next
downtown sidewalk project is currently being designed.
ELECTRIC
New development continues to exceed expectations in the second quarter with additional residential, multifamily,
and business projects in progress. New projects started are Holt Caterpillar, Ewald Kubota, Hillwood Section 2, and
Downtown West.
WATER
The Berry Creek Interceptor design is 90% complete and the easement acquisition is in progress. Construction is
estimated to start in November 2018.
The Stonehedge and Westinghouse lift station project bid went to the Board and Council in November 2016.
Construction started in January 2017 and is scheduled for completion by the end of May 2018.
The Pecan Branch wastewater treatment plant construction started in July 2017 and is scheduled for completion in
July 2019.
The Shell Road and CR 255 water main designs are complete and easement acquisitions are in progress. Construction
is estimated to start October 2019.
The Domel water pump station design is complete. Construction started in July 2017 and is scheduled for completion
in June 2018.
GENERAL CAPITAL PROJECT RECONCILIATION
F FY2018 Quarterly Report
Staff has reconciled capital projects funded with bonds. Proceeds from completed projects may be used for
appropriate projects that align with the stated purpose of the bond issue. It requires approval from management
and/or our Bond Counsel. We will use the information gained from the reconciliation to plan for future debt sales
and not issue additional debt if we still have available proceeds. Some examples of projects that are completed or
will be completed soon that had bond proceeds remaining are:
FM 1460(using towards FM 971 after final payment)
Stormwater Projects(using towards current year projects)
Cedar Breaks Elevated Storage Tank
IH35 Double Circuit Feeder(using towards other IH35 projects)
Chatauqua Park(using towards San Gabriel Park)
McMaster Park(using towards San Gabriel Park)
Public Safety Facility(using towards public safety data center)
Parking(using towards downtown parking)
Various other small projects
Staff will continue to meet with departments to determine status of projects in relation to outstanding bond
proceeds.
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 12,233,506 12,405,719
Revenue
Administrative Charges 2,087,555 172,287 1,042,097 2,087,555
All Other Revenue 4,056,192 81,670 2,250,853 4,056,192
Development and Permit Fees 2,553,500 204,364 1,196,887 2,553,500
Franchise Fees 5,203,863 204,351 2,723,217 5,203,863
Garey Park 225,000 500 500 225,000
Parks and Rec Fees 2,339,220 346,657 1,030,426 2,339,220
Property Tax 13,400,000 162,158 12,217,959 13,400,000
ROI 8,417,635 533,654 3,779,989 8,417,635
Sales Tax 14,300,500 1,044,001 4,624,109 14,300,500
Sanitation Revenue 8,974,500 728,364 4,296,281 8,974,500
Transfer In 472,200 37,000 115,950 472,200
Revenue Total 62,030,165 4,244,006 33,278,268 62,030,165
Expense
Administrative Services 1,580,015 113,764 765,568 1,580,015
Animal Services 875,831 71,413 465,757 875,831
Arts & Culture 80,900 2,113 16,943 80,900
City Council 175,087 12,528 91,327 175,087
City Secretary 920,537 49,093 345,675 920,537
Code Enforcement 415,749 30,170 187,105 415,749
Communications 400,137 46,836 196,434 400,137
Environmental Services 7,623,412 631,042 3,228,284 7,623,412
Fire Emergency Services 10,789,592 753,227 5,227,840 10,789,592
Fire Support Services 2,648,858 207,905 1,379,314 2,648,858
Garey Park 621,557 7,961 59,349 621,557
General Gov't Contracts 3,253,786 301,478 2,262,444 3,253,786
Inspections 1,231,441 90,774 546,361 1,231,441
Library 2,554,935 197,050 1,312,991 2,554,935
Municipal Court 632,929 44,322 306,403 632,929
Parks 2,578,108 195,806 1,348,718 2,578,108
Parks Admin 607,229 46,752 300,823 607,229
Planning 1,685,954 44,901 563,015 1,685,954
Police Admin 2,234,502 182,906 1,139,958 2,234,502
Police Operations 11,511,871 904,902 6,087,167 11,511,871
Public Works 1,241,845 184,150 577,290 1,241,845
Rec Programs 1,338,038 67,520 407,919 1,338,038
Recreation 2,527,496 180,946 1,210,716 2,527,496
Streets 4,657,416 254,293 1,873,774 4,657,416
Tennis Center 435,014 29,292 179,170 435,014
Transfer Out 1,739,523 3,739 1,717,087 1,739,523
Expense Total 64,361,761 4,654,882 31,797,433 64,361,761
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (2,331,596) (410,876) 1,480,835 (2,331,596)
AVAILABLE FUND BALANCE 9,901,910 10,074,123
Year-End Projection to Approved: Mar FY2018
General Fund
6
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 12,824,257 6,758,275
Operating Revenue
Electric Revenue 67,595,139 4,530,908 30,655,163 68,206,993
Interest 48,318 2,902 23,473 68,156
Other Revenue 4,469,955 198,775 1,371,271 4,761,333
Operating Revenue Total 72,113,412 4,732,585 32,049,907 73,036,481
Operating Expenditures
CRR Credits (2,000,000) (628,212) (5,023,640) (7,000,000)
Georgetown Utility Systems 17,915,971 1,703,938 9,331,424 18,300,944
Purchased Power 44,000,000 6,304,908 27,542,283 52,000,000
Transfer Out-Interfund Transfers 92,600 - 92,600 92,600
Transfer Out-ROI 5,493,707 362,095 2,437,629 5,493,707
Operating Expenditures Total 65,502,278 7,742,730 34,380,296 68,887,251
Total Net Operations 6,611,134 (3,010,145) (2,330,388) 4,149,231
Non-Operating Revenue
Bond Proceeds 6,537,000 - - 6,537,000
Transfers in 90,981 - 90,981 90,981
Non-Operating Revenue Total 6,627,981 - 90,981 6,627,981
Non-Operating Expenditures
CIP 9,880,487 221,592 3,176,528 5,007,350
Interest Expense 1,697,769 - 665,850 1,697,769
Debt Issuance Cost 15,000 - - 15,000
Debt Service 2,539,258 472 640 2,539,258
Non-Operating Expenditures Total 14,132,514 222,063 3,843,017 9,259,377
Total Net Non-Operations (7,504,533) (222,063) (3,752,036) (2,631,396)
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (893,399) (3,232,209) (6,082,425) 1,517,835
ENDING FUND BALANCE 11,930,858 8,276,110
Contingency 5,125,000 5,125,000
Rate Stabilization 5,500,000 -
AVAILABLE FUND BALANCE 1,305,858 3,151,110
Year-End Projection to Approved: Mar FY2018
Electric Fund
7
APRROVED BUDGET CURRENTPERIOD
YEARTODATE
(W/ENCUMB)YEARENDPROJECTION
BEGINNINGFUNDBALANCE 67,881,131 67,881,131
OperatingRevenue
CapitalRecoveryFee 6,672,500 1,299,184 6,665,921 8,643,117
Interest 192,385 117,444 538,418 551,781
IrrigationUtility Revenue 225,000 7,672 103,624 225,000
OtherRevenue 2,176,250 359,004 2,517,850 2,929,227
RawWater Revenue 178,500 10,580 55,740 178,500
TransferIn,Debt 116,613 116,613
WastewaterUtility Revenue 10,850,000 893,744 5,404,626 10,850,000
WaterUtilityRevenue 27,748,195 1,764,333 12,236,495 27,748,195
OperatingRevenueTotal 48,159,443 4,451,961 27,522,674 51,242,434
OperatingExpenditures
Irrigation 204,300 14,481 63,927 210,953
TransferOut,Fleet/Joint Service 62,000 62,000 62,000
TransferOut,General 425,000 68,750 425,000
TransferOut,ROI 2,686,505 154,992 1,231,715 2,686,505
TransferOut,Utilities 90,981 90,981 90,981
WastewaterDistribution 613,000 40,290 405,557 615,701
WastewaterPlantManagement 2,437,025 194,207 1,473,810 2,453,961
WaterAdministration 18,596,447 1,310,839 9,275,018 18,600,018
WaterDistribution 2,723,300 178,225 975,962 2,750,513
WaterOperations 3,769,545 294,881 1,923,629 3,785,614
WaterPlantManagement 2,548,726 127,278 1,471,263 2,560,841
OperatingExpendituresTotal 34,156,829 2,315,192 17,042,613 34,242,086
TotalNetOperations 14,002,614 2,136,768 10,480,062 17,000,348
NonOperatingRevenue
BondProceeds
NonOperatingRevenue Total
NonOperatingExpenditures
CIP90 65,085,236 1,383,051 8,462,188 65,405,025
CIP91 5,178 1,094 5,178
DebtService 5,344,535 528 1,415,290 5,664,126
NonOperatingExpenditures Total 70,434,949 1,384,673 9,877,478 71,074,329
TotalNetNon Operations (70,434,949)(1,384,673)(9,877,478)(71,074,329)
EXCESS(DEFICIANCY)OFTOTALREVENUEOVERTOTAL
REQUIREMENTS (56,432,335)752,095 602,583 (54,073,981)
ENDINGFUNDBALANCE 11,448,796 13,807,150
Contingency 6,000,000 6,000,000
AVAILABLEFUNDBALANCE 5,448,796 7,807,150
YearEnd Projectionto Approved:MarFY2018
WaterFund
8
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 302,565 302,565
Revenue
Gedco Admin/Contract Fee 221,328 18,444 110,664 221,328
Gtec Admin/Contract Fee 166,882 13,907 83,442 166,882
Interest 10,000 2,334 7,892 10,000
Other 26,774 105,426 445,439 445,439
Service Fees - Airport 131,785 10,982 65,892 131,785
Service Fees - Conservation 100,350 8,363 50,178 100,350
Service Fees - Electric 4,233,598 352,800 2,116,800 4,233,598
Service Fees - General 3,345,567 278,797 1,672,782 3,345,567
Service Fees - Stormwater 938,969 78,247 469,482 938,969
Service Fees - Water 7,248,183 604,015 3,624,090 7,248,183
Transfer In 5,000 - - 5,000
VPID Admin/Contract Fee 8,966 747 4,482 8,966
Revenue Total 16,437,402 1,474,062 8,651,143 16,856,067
Expense
Accounting 947,423 74,600 460,649 947,423
City Wide Hr 415,400 10,789 112,569 415,400
Conservation 982,774 37,283 247,466 982,774
Customer Care 4,054,593 319,423 1,874,691 4,054,593
Economic Development 596,092 36,929 286,491 596,092
Engineering 2,143,112 132,952 888,288 2,143,112
Engineering Support 1,069,289 71,268 452,968 1,069,289
Finance Administration 1,115,967 70,997 664,599 1,115,967
Gus Administration 1,469,912 114,673 690,660 1,469,912
Human Resources 949,739 67,350 425,409 949,739
In-House Legal 913,277 146,727 445,633 913,277
Insurance & Legal 705,000 45,618 605,062 705,000
Joint Svcs Con 569,000 46,779 395,815 569,000
Purchasing 740,589 52,802 332,982 740,589
Transfer Out 67,800 37,000 67,800 67,800
Expense Total 16,739,967 1,265,188 7,951,081 16,739,967
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (302,565) 208,874 700,062 116,100
AVAILABLE FUND BALANCE 0 418,665
Year-End Projection to Approved: Mar FY2018
Joint Services Fund
9
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 300,473 300,473
Revenue
Interest 2,000 1,680 6,288 6,288
Transfer In, General Fund 1,000,000 - 1,000,000 1,000,000
Revenue Total 1,002,000 1,680 1,006,288 1,006,288
Expense
Transfer Out, GCP - - - -
Transfer Out, General Fund - - - -
Transfer Out, ISF - - - -
Transfer Out, Joint Services - - - -
Expense Total - - - -
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 1,002,000 1,680 1,006,288 1,006,288
ENDING FUND BALANCE 1,302,473 1,306,761
Year-End Projection to Approved: Mar FY2018
Council Discretionary Fund
10
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 690,201 690,201
Revenue
Hotel/Motel Occupancy Tax Revenues 1,200,000 130,221 637,194 1,200,000
Interest 1,500 1,285 4,483 4,483
Other 12,000 1,926 8,363 12,000
Poppy Festival 109,400 37,424 79,251 109,400
Revenue Total 1,322,900 170,857 729,290 1,325,883
Expense
Operations 551,381 29,855 273,004 551,381
Personnel 361,237 26,508 174,045 361,237
Poppy Festival 136,200 18,908 19,821 136,200
Transfer to Facilities 49,565 4,130 24,780 49,565
Transfer to Fleet 5,090 424 2,544 5,090
Transfer to General Fund 10,200 - 10,200 10,200
Transfer to Information Technology 24,806 2,067 12,402 24,806
Expense Total 1,138,479 81,892 516,796 1,138,479
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 184,421 88,964 212,494 187,404
ENDING FUND BALANCE 874,622 877,605
Contingency 187,147 187,147
Reserved for Capital 687,474 690,458
AVAILABLE FUND BALANCE - -
Year-End Projection to Approved: Mar FY2018
Convention & Visitors Bureau Fund
11
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE (501,205) (501,205)
Revenue
TASPP Revenue 128,000 - - 128,000
EMS Revenue 2,617,762 218,625 1,183,292 2,617,762
Franchise Fees 20,000 - 4,000 20,000
Transfer In 44,870 3,739 22,434 44,870
Revenue Total 2,810,632 222,364 1,209,726 2,810,632
Expense
O&M 636,212 34,058 396,610 636,212
Personnel 1,788,522 177,187 1,079,270 1,788,522
Expense Total 2,424,734 211,246 1,475,880 2,424,734
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 385,898 11,118 (266,154) 385,898
AVAILABLE FUND BALANCE (115,307) (115,307)
Year-End Projection to Approved: Mar FY2018
Paramedic Fund
12
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB) YEAR-END PROJECTION
BEGINNING FUND BALANCE 436,734 436,734
Operating Revenue
Fuel and Terminal Sales 2,794,919 224,755 1,202,166 2,794,919
Interest and Other 65,600 2,313 26,860 77,470
Leases and Rentals 882,484 71,857 431,916 882,484
Operating Revenue Total 3,743,003 298,924 1,660,941 3,754,873
Operating Expenditures
Debt Service 125,850 - 19,250 125,850
Operations-Fuel 2,300,000 150,181 2,200,287 2,300,000
Operations-Non Fuel 663,754 34,452 305,850 666,848
Personnel 375,920 25,958 174,688 378,194
Transfers Out 53,500 - 53,500 53,500
Operating Expenditures Total 3,519,024 210,591 2,753,576 3,524,392
TOTAL NET OPERATIONS 223,979 88,333 (1,092,634) 230,481
Non-Operating Revenue
Bond Proceeds 150,000 150,000
Grants 35,000 - 7,578 35,000
Non-Operating Revenue Total 185,000 - 7,578 185,000
Non-Operating Expenditures -
Airport Ramp 15,000 - - 15,000
Edge Lighting 150,000 - - 150,000
Hangar Upgrades 33,000 4,638 9,477 33,144
Pavement Upgrades 40,000 - - 40,000
Runway Rehab 16,500 - - 16,500
Wildfire Management 25,500 - - 25,500
Non-Operating Expenditure Total 280,000 4,638 9,477 280,144
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS 128,979 83,694 (1,094,533) 135,337
ENDING FUND BALANCE 565,713 572,071
RESERVES
Contingency 213,158 213,158
Reserves Total 213,158 213,158
AVAILABLE FUND BALANCE 352,555 358,913
Airport Operations Fund
Year End Projection to Approved as of March 2018
13
APPROVED BUDGET CURRENTPERIOD
YEAR TODATE
(W/ENCUMB)YEARENDPROJECTION
BEGINNINGFUNDBALANCE 22,051,111 22,051,111
OperatingRevenue
SalesTax 6,575,000 460,727 2,140,083 6,575,000
PIDAssessments 553,201 553,201
Interest 127,000 111,439 222,877
OperatingRevenueTotal 7,255,201 460,727 2,251,522 7,351,078
OperatingExpenditure
AdministrativeSupport 364,814 30,276 181,656 364,814
OperatingExpenditureTotal 364,814 30,276 181,656 364,814
TOTALNETOPERATIONS 6,890,387 430,451 2,069,866 6,986,264
NonOperatingRevenue
OtherGrantRevenue 11,222 11,222
NonOperatingRevenue Total 11,222 11,222
NonOperatingExpenditure
PecanCenterDrtoAirportRd(FY15)5,390,290 1,810 491,319 5,390,290
RiveryTIAImprovements 1,016,790 11,949 1,016,790
FM971/Fontana 66,431 66,431
RiveryExtension Williams DrtoNWBlvd(FY16)767,678 26,537 767,678
IH35/HWY29Intersection 650,000 43,347 650,000
SWBypass2243toIH35 333,962 205,464 333,962
FM1460Widening 501,260 141 501,260
WolfRanchPkwyExtension 283,350 283,350
MaysSt 3,252,729 249,585 3,252,729
TamiroImprovements 410,000 410,000
AvailableforProjectsTBD 1,643,750 1,643,750
DebtService 3,330,135 601,027 3,330,885
NonOperatingExpenditure Total 17,646,375 1,810 1,629,369 17,647,125
TOTALNETNONOPERATIONS (17,646,375)(1,810)(1,618,147)(17,635,903)
EXCESS(DEFICIENCY)OFTOTALREVENUEOVERTOTAL
REQUIREMENTS (10,755,988)428,641 451,719 (10,649,638)
ENDINGFUNDBALANCE 11,295,123 11,401,473
RESERVES
Contingency 1,643,750 1,643,750
ReservedBondProceeds
ReservesTotal 1,643,750 1,643,750
AVAILABLEFUNDBALANCE 9,651,373 9,757,723
GeorgetownTransportation Enhancement Corporation Fun d
YearEnd Projectionto Approved:MarFY2018
14
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 5,902,863 5,902,863
OPERATING REVENUES -
Interest 25,400 8,224 40,777 40,777
Lease Revenue (Grape Creek)24,000 - 24,000 24,000
Miscellaneous Revenue 61,100 - 10,991 61,100
Sales Tax 1,643,750 115,182 535,021 1,643,750
OPERATING REVENUES Total 1,754,250 123,406 610,789 1,769,627
OPERATING EXPENDITURES -
Debt Service 116,613 - 43,784 116,613
Interest Expense 87,569 - - 87,569
Joint Services Allocation 221,328 18,444 110,664 221,328
Miscellaneous Expense 11,108 - 10,991 11,108
Principal Reduction 125,000 - - 125,000
Promotional & Marketing Program 81,000 - 66,961 81,000
Special Services 27,500 - 12,500 27,500
Supplies 300 - - 300
Travel & Training 1,500 - - 1,500
OPERATING EXPENDITURES Total 671,918 18,444 244,900 671,918
TOTAL NET OPERATIONS 1,082,332 104,962 365,889 1,097,709
NON-OPERATING EXPENDITURES -
Catalyst 36,000 2,833 33,006 36,000
DisperSol 60,000 40,000 40,000 40,000
Economic Development Projects -Undetermined 6,338,518 - - 6,338,518
Texas Life Sciences 139,740 - 139,740 139,740
NON-OPERATING EXPENDITURES Total 6,574,258 42,833 212,746 6,554,258
TOTAL NET NON-OPERATIONS (6,574,258) (42,833) (212,746) (6,554,258)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (5,491,926) 62,129 153,143 (5,456,549)
ENDING FUND BALANCE 410,938 446,315
RESERVES
Contingency 410,938 410,938
RESERVES Total 410,938 - - 410,938
AVAILABLE FUND BALANCE - 35,377
Georgetown Economic Development Corporation Fund
Year-End Projection to Approved: Mar FY2018
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
CIP Quarterly Report - Q2 FY2018 Budget
Year to Date
(W/Encum) Remaining Balance
CDBG GRANTS
215-9-0880-90-001 SCENIC DR SIDEWALKS 215,298 140,902 74,396
CDBG GRANTS Total 215,298 140,902 74,396
ELECTRIC SERVICES
610-9-0580-90-047 AUSTIN AVE SIDEWALKS 100,000 - 100,000
610-9-0580-90-139 17TH STREET REHAB 50,000 - 50,000
610-9-0580-90-140 7TH ST REHAB 200,000 925 199,075
610-9-0580-90-141 DOWNTOWN OH REHAB 700,000 - 700,000
610-9-0580-90-142 DOWNTOWN WEST 950,000 169,237 780,763
610-9-0580-90-143 SHELL ROAD FEEDERS 370,000 - 370,000
610-9-0580-90-144 SIDEWALK POLE RELOCATION 50,000 49 49,951
610-9-0580-90-146 SOUTHWEST BYPASS FEEDER 800,000 120,413 679,587
610-9-0580-90-147 WEST 10TH STREET REHAB 98,000 - 98,000
610-9-0580-90-148 WEST 11TH STREET REHAB 200,000 2,000 198,000
610-9-0580-90-255 DOWNTOWN URD CONVERSION 200,000 - 200,000
610-9-0580-90-256 GEO. EAST T2 VOLTAGE CHANGE 50,000 20,293 29,707
610-9-0580-90-257 KATHI LN URD CONVERSION 180,000 182,665 (2,665)
610-9-0580-90-260 DB WOOD_SH29 INTERSECTION 150,000 22,500 127,500
610-9-0580-90-261 FM 971 REOLCATION 200,000 - 200,000
610-9-0580-90-262 INNER LOOP WIDENING 200,000 - 200,000
610-9-0580-90-263 LEANDER RD_IH35 INTERSECTION 10,000 - 10,000
610-9-0580-90-264 NORTHWEST BLVD WIDENING 100,000 15,000 85,000
610-9-0580-90-265 RABBIT HILL ROAD WIDENING 500,000 75,000 425,000
610-9-0580-90-266 RIVERY EXTENSION 200,000 30,000 170,000
610-9-0580-90-267 UNIVERSITY_MAYS WIDENING 154,000 - 154,000
610-9-0580-90-268 WILLIAMS DR_IH35 INTERSECTION 10,000 - 10,000
610-9-0580-90-300 ELECTRICAL SYSTEM IMPROVEMENT - 3,739 (3,739)
610-9-0580-90-310 POWER QUALITY IMPROVEMENTS 80,000 21,267 58,733
610-9-0580-90-320 SECTIONALIZATION IMPROVEMENTS 200,000 - 200,000
610-9-0580-90-331 POLE INSPECTIONS 100,000 - 100,000
610-9-0580-90-410 NEW DEVELOPMENT PROJECTS 3,000,000 2,090,991 909,009
610-9-0580-90-430 STREET LIGHTING 88,000 21,061 66,939
610-9-0580-90-500 CONSULTANT ENGINEERING 150,000 150,000 -
610-9-0580-90-701 FIBER OPTIC 245,000 200,736 44,264
610-9-0580-90-702 FIBER TO SIGNAL LIGHTS 50,000 50,219 (219)
610-9-0580-91-105 CIS SYSTEM 308,565 - 308,565
610-9-0585-90-021 COMMUNICATIONS EQUIPMENT 186,922 434 186,488
ELECTRIC SERVICES Total 9,880,487 3,176,528 6,703,959
GATEWAY TIRZ
295-9-0602-90-001 CAPITAL IMPROVEMENTS 140,000 - 140,000
GATEWAY TIRZ Total 140,000 - 140,000
44
CIP Quarterly Report - Q2 FY2018 Budget
Year to Date
(W/Encum) Remaining Balance
GENERAL CAPITAL PROJECTS
120-9-0280-90-039 RADIO REPLACEMENT, PARKS 64,333 - 64,333
120-9-0280-90-045 SAN GABRIEL PARK IMPROVEMENT 3,795,205 1 3,795,205
120-9-0280-90-046 GAREY PARK 912,359 683,514 228,845
120-9-0280-90-047 SIDEWALKS 716,514 37,738 678,777
120-9-0280-90-051 LIBRARY CANOPY 155,000 - 155,000
120-9-0280-90-053 GRACE HERITAGE REHAB - 26,239 (26,239)
120-9-0280-90-059 ADA FACILITIES 326,345 2,637 323,708
120-9-0280-90-060 ADA PARKS 173,137 2,099 171,038
120-9-0280-90-061 ELECTRIC PROJECTS 89,920 - 89,920
120-9-0280-90-066 KATY CROSSING TRAIL 500,000 7,500 492,500
120-9-0380-90-156 PUBLIC SAFETY FACILITY 27,100 58,307 (31,207)
120-9-0380-90-159 FIRE STATION 7 2,000,000 23,651 1,976,349
120-9-0380-90-160 EOC SIREN SYSTEM 21,798 18,119 3,679
120-9-0380-90-163 FIRE STATION 6 ESD 600,000 - 600,000
120-9-0380-90-167 GMC SPACE NEEDS STUDY 200,000 - 200,000
120-9-0380-90-168 TRANSFER STATION/LANDFILL 11,337 - 11,337
120-9-0380-90-169 ERP PROJECT 2,950,000 29,565 2,920,435
120-9-0381-91-022 RADIO REPLACEMENT 500,000 - 500,000
120-9-0680-90-005 FORMER LIBRARY RENOVATION - 2,800 (2,800)
120-9-0680-90-006 DOWNTOWN FESTIVAL AREA 460,000 - 460,000
120-9-0680-90-008 MUNICIPAL COURT/CVB REDESIGN 405,000 - 405,000
120-9-0680-90-012 DOWNTOWN WEST 25,990,682 11,316,387 14,674,295
120-9-0680-90-013 DOWNTOWN WEST SIGNAGE 125,000 - 125,000
120-9-0680-90-014 DOWNTOWN PARKING EXPANSION 250,000 - 250,000
120-9-0880-90-054 AUSTIN AVENUE BRIDGE 88,132 - 88,132
120-9-0880-90-087 FM 971 3,900,000 - 3,900,000
120-9-0880-90-088 FM 1460 2,529,985 - 2,529,985
120-9-0880-90-091 SW BYPASS/WOLF RANCH PKWY 2,324,866 47 2,324,819
120-9-0880-90-092 SOUTHEAST INNER LOOP - 295 (295)
120-9-0880-90-093 ACCESS RTW TO GOVERNMENT SRV - 34,740 (34,740)
120-9-0880-90-104 SIGNAL AT SHELL/VERDE VISTA 40,006 37,015 2,991
120-9-0880-90-105 NORTHWEST BLVD BRIDGE 10,500,000 51,500 10,448,500
120-9-0880-90-106 LEANDER RD_RIVER RIDGE_SW BYPA 1,550,000 - 1,550,000
120-9-0880-90-107 ROCK ST_6TH TO 9TH STS 23,000 - 23,000
120-9-0880-90-108 RIVERY EXTENSION 4,500,000 18,753 4,481,247
120-9-0880-90-109 SE INNER LOOP ROCKRIDE IMPRV - 560,000 (560,000)
120-9-0880-91-001 10TH ST (MAIN-ROCK)94,000 - 94,000
120-9-0880-91-002 11TH ST. (MAIN-ROCK)151,000 - 151,000
120-9-0880-91-003 8TH ST. (CHURCH -MYRTLE)11,922 - 11,922
120-9-0880-91-004 8TH ST. (MLK-ROCK)11,922 - 11,922
120-9-0880-91-005 AUSTIN AVE. (9TH-UNIVERSITY)178,000 - 178,000
120-9-0880-91-006 AUSTIN AVE. (SH29-FM2243)300,000 70 299,930
120-9-0880-91-007 CHURCH ST. (8TH-9TH)11,922 - 11,922
120-9-0880-91-008 OLD TOWN NORTHEAST 786,876 - 786,876
120-9-0880-91-009 PH 1 SIGNAL & CURB RAMP IMPR.309,103 266 308,837
120-9-0880-91-010 DTOWN SIDEWALK PROJECTS - 51,229 (51,229)
GENERAL CAPITAL PROJECTS Total 67,584,464 12,962,470 54,621,994
*
*
**
*
*
45
CIP Quarterly Report - Q2 FY2018 Budget
Year to Date
(W/Encum) Remaining Balance
GTEC
400-9-0980-90-022 SH 29 TO RM2243 SW BYPASS - 205,376 (205,376)
400-9-0980-90-024 SW BYPASS-2243 TO IH35 333,962 89 333,874
400-9-0980-90-036 ECO DEVO PROJECTS 1,643,750 - 1,643,750
400-9-0980-90-044 FM 971/ FONTANA (NW BRIDGE)66,431 - 66,431
400-9-0980-90-047 WOLF RANCH PKWY EXTENSION 283,350 - 283,350
400-9-0980-90-059 IH 35/ HWY 29 INTERSECTION IMP 650,000 43,347 606,653
400-9-0980-90-060 MAYS STREET/ RABBIT HILL ROAD 3,252,729 249,585 3,003,144
400-9-0980-90-061 FM1460 WIDENING 501,260 183 501,077
400-9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWEST 767,678 26,537 741,141
400-9-0980-90-063 PECAN CENTER DR./ AIRPORT RD.5,390,290 491,319 4,898,971
400-9-0980-90-064 RIVERY TIA IMPROVEMENTS 1,016,790 590,333 426,457
400-9-0980-90-065 TAMIRO IMPROVEMENTS 410,000 - 410,000
GTEC Total 14,316,240 1,606,768 12,709,472
STORMWATER CAPITAL IMPROVEMENT
640-9-0880-90-005 CURB & GUTTER 962,150 369,728 592,423
640-9-0880-90-069 STORMWATER INFRASTRUCTURE UPG 224,000 223,651 349
640-9-0880-90-076 REGIONAL FLOOD STUDY - 51,911 (51,911)
640-9-0880-90-078 18TH AND HUTTO DRAINAGE 77,977 - 77,977
640-9-0880-90-079 2ND AND ROCK POND 13,876 57 13,819
640-9-0880-90-080 SERENADA CULVERT IMPROVEMENTS 176,000 115,849 60,152
640-9-0880-90-081 VILLAGE PID INLET 75,000 - 75,000
640-9-0880-90-082 18TH_HUTTO DRAINAGE STUDY 50,000 - 50,000
STORMWATER CAPITAL IMPROVEMENT Total 1,579,003 761,196 817,807
STREET TAX SRF
203-9-0880-90-071 STREET MAINTENANCE 3,858,676 314 3,858,362
203-9-0880-90-075 ASPHALT RECYCLING - 48 (48)
STREET TAX SRF Total 3,858,676 362 3,858,314
46
CIP Quarterly Report - Q2 FY2018 Budget
Year to Date
(W/Encum) Remaining Balance
WATER SERVICES
660-9-0580-90-049 SOUTHLAKE WTP 950,260 - 950,260
660-9-0580-90-071 TANK REHAB PROJECTS 399,958 466,727 (66,769)
660-9-0580-90-072 CEDAR BREAKS EST - 9,333 (9,333)
660-9-0580-90-097 SUN CITY ELEVATED STORAGE TANK 3,224,047 3,224,000 47
660-9-0580-90-125 SHELL ROAD WATER LINE 6,039,578 494 6,039,084
660-9-0580-90-146 LWTP - DEWATERING FACILITY - 89,823 (89,823)
660-9-0580-90-155 WATER - STREET REHAB 330,000 - 330,000
660-9-0580-90-158 RABBIT HILL EST - 0 (0)
660-9-0580-90-166 LEANDER INTERCONNECT 575,000 - 575,000
660-9-0580-90-167 WEST LOOP (H-1A)2,119,000 - 2,119,000
660-9-0580-90-168 LWTP RAW WATER INTAKE REHAB 440,411 10,745 429,666
660-9-0580-90-169 SEQUOIA GROUND STORAGE TANK 2,500,000 - 2,500,000
660-9-0580-90-170 CR 255 (WD14-2)2,980,000 330,831 2,649,169
660-9-0580-90-171 DOMEL PS IMPROVEMENTS 1,805,692 64,711 1,740,981
660-9-0580-90-175 BRAUN EST 4,750,000 379,083 4,370,917
660-9-0580-90-176 MISC. LINE UPGRADES 250,000 - 250,000
660-9-0580-90-177 PARK WTP CLEARWELL 170,000 - 170,000
660-9-0580-90-178 S. LAKE WTP 2018 1,000,000 - 1,000,000
660-9-0580-90-179 SW BYPASS WATER H24-1 500,000 - 500,000
660-9-0580-90-180 TANK REHABILITATION 480,000 - 480,000
660-9-0580-90-200 WATER MAINS 3,842,303 1,158,373 2,683,930
660-9-0580-91-105 CIS SYSTEM 5,178 - 5,178
660-9-0581-90-037 EDWARDS AQUIFER TESTING - 149,000 (149,000)
660-9-0581-90-051 PECAN BRANCH PH 2 - 4,864 (4,864)
660-9-0581-90-154 WESTINGHOUSE LS & FM 1,207,067 29,739 1,177,328
660-9-0581-90-160 BERRY CREEK INTER. (BC- 4-6)8,328,900 - 8,328,900
660-9-0581-90-162 BERRY CREEK INTER. (BCI-3)12,000,000 1,649,325 10,350,675
660-9-0581-90-163 SAN GABRIEL BELT PRESS 2,207,000 306,068 1,900,932
660-9-0581-90-164 PARK LIFT STATION & FORCE MAIN 3,585,740 - 3,585,740
660-9-0581-90-165 BERRY CREEK INTER BCI-3 1,000,000 151 999,849
660-9-0581-90-166 EARZ 1,000,000 588,920 411,080
660-9-0581-90-167 SAN GABRIEL INTER SGI-2 2,500,000 - 2,500,000
660-9-0581-90-220 LIFT STATION UPGRADE 900,280 - 900,280
WATER SERVICES Total 65,090,414 8,462,188 56,628,226
47
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 12/31/17 Status Updates - 3/31/18
Cemetery Special Revenue
Fund
Currently cemetery operations are self-funded through plot
sales of approximately $50K per year. The cemetery is
managed through Parks Administration. In 2015, Council
elected to reserve $75,000 annually for future costs
associated with maintaining the property. The General Fund
has made this transfer in 2016, 2017, and 2018.
The columbarium project bid will open on January 25th.
Construction is expected to begin in the Spring and will last
approximately 60 days. Mowing and maintenance costs have
increased and now exceed the annual transfer from the General
Fund. The long-term funding plan needs to be revisited.
The columbarium construction bid of $121,432 was approved by City
Council on February 27th. Constructions will begin in May and is
expected to be completed in 60 days.
Unfunded Actuarial Accrued
Liability (UAAL)
Recognizes the outstanding liability for the City’s employee
retirement plan through TMRS. The City contributes
monthly to fund the UAAL, based on an annual percentage
of payroll. Actual % of payroll costs is recognized within each
fund. The UAAL is provided by TMRS and lags one year.
As of 12/30/16, the UAAL was $22M and is considered 83%
funded. The 2018 TMRS total combined contribution rate is 12.54.No change, updated once annually.
Other Post Employee Benefits
(OPEB)
While the City has no obligation to offer additional retiree
benefits, retirees are eligible to participate in the City’s
health insurance program. That ability represents a subsidy
that impacts health insurance costs to the City. Retirees pay
their monthly premiums to the ISF who in turn processes
their health insurance claims.
This is an actuarial calculation based on current and future
employees on future City health insurance costs, and has
numerous and complex factors in its calculation. Retirees pay
their own premiums, and thus the liability is considered “pay as
you go”. With additional employees being added, potential future
retiree impacts increase. The 2016 current net OPEB liability is
$972,576 which is an increase of $185,876 over the prior year.
GASB requires updates every other year. Until the review is
conducted again in 2018, the estimate is $1,148,194, an increase of
$175,618 over the prior year.
Compensated Absence
Future costs associated with benefits such as vacation, and
sick leave for City employees. Compensated Absence is
accrued annually to each proprietary fund type on a GAAP
basis and accounted for on the balance sheet of each fund.
For governmental funds (and for budgetary basis), the
expense is recognized when due and payable.
The 15% liability target was fully funded in FY 2018 budget. In FY
2017, these funds were used for two long-tenured payouts in
Police and Fire.
Staff will bring forward an FY 2018 budget amendment to
appropriate use of this reserve for several large payouts in Police.
Rate Stabilization Reserve
Intended to mitigate potential rate impacts due to increased
fuel costs or other external factors. The RSR is maintained
within the Electric Fund and is budgeted to be $5.5M in
FY2018.
The rate study is funded in the budget. Year-end purchased power
and CIP costs will exceed projections and require a year-end
amendment. Finance and utility staff are partnering on short and
long-term solutions to rebuild the rate stabilization fund.
In FY 2018, staff recommended changes to the ratio of cash and
debt financing of utility CIP projects, and evaluated several projects
for timing to improve the position of the fund balance. The rate
study results and proposed changes to the fiscal and budgetary
policy will come to GGAF, GUS Board and Council in the early
summer.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
March 31, 2018
48
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 12/31/17 Status Updates - 3/31/18
Airport Maintenance
Fund on-going maintenance of the Airport grounds, runways
and taxi ways. Terminal and Tower included in Facilities ISF.
An Airport Master Plan was developed to address long term
capital maintenance project prioritization.
The parallel taxiway and fuel storage facility are almost complete.
Contractor working on punch list items. The current Airport
Master Plan effort has produced a draft Final Plan awaiting
consideration by City, TX DOT and the FAA. The Wildlife Hazard
Assessment has begun and should be completed late 2018.
The Airport Fund has a positive ending balance, is able to fund
capital projects going forward, and can support a contingency
reserve. Finance staff propose removing the Airport from the
unfunded liability list. The parallel taxiway and fuel storage facility
are complete. The current Airport Master Plan effort has produced
a draft Final Plan under review by the FAA. The Wildlife Hazard
Assessment has begun and should be completed late 2018.
Americans with Disabilities Act
(ADA) Compliance Needs
As facilities are built or repurposed, meeting ADA
compliance will be included in Project Costs. Funding for
program expansion will be needed (General Fund sources).
The City has an adopted policy, as required by Federal Law,
that it will make reasonable accommodations and
modifications to ensure that people with disabilities have an
equal opportunity to enjoy its programs, services, and
activities. The City does not maintain a reserve for these
modifications.
The City finalized 2016/17 CIP improvements throughout the city,
including curb ramps, crosswalks, pedestrian-actuated signal
infrastructure (“ped heads”), and sidewalk
extensions/reconstructions. The project still has not been closed
out, however, the Texas Department of Licensing and Regulation
(TDLR) compliance inspection and reporting by a registered
accessibility specialist has occurred.
The 2017/18 Capital Improvement Plan for sidewalks is
developing projects related to ADA ramp and access
improvement in Downtown in areas around 7th and 8th
street.”
Sidewalk Maintenance
Currently, new sidewalks are built as development occurs.
Repairs are funded as needed or if funding is available,
when major roads are repaired. Useful life of a sidewalk is
estimated at 40 to 50 years. The largest revenue source
comes from the City’s General Fund, but there has been
some debt funding as well.
The current projects are Scenic CDBG and Old Town NE sidewalks.
The Scenic CDBG was presented to and approved by GTAB and
Council. Patin Construction was awarded the contract. The notice
to proceed was issued for 2/1/18. The Old Town NE sidewalk
project has begun. The surveying has been completed and it is
roughly 25% drawn. The project is estimated to go out for bid in 5-
8 months. There are 2017 GO bond proceeds to cover the cost of
this project.
Scenic CDBG sidewalk is 95% complete. We held a walk-thru this
morning and will have the TDLR inspection scheduled early next
week. Any punch list items will be address in the coming weeks by
Patin Construction.
Old Town NE Sidewalks are ongoing in design. We are working to
obtain 7 easements needed to finalize the design for the 8’ sidewalk
along 7th street. Design is near 70%. Project estimated to go out for
bid is still 5-8 months due to easement needs.
Park Equipment Maintenance
& Replacement
Over the past 5 years, funding for Park Maintenance and
Replacement has increased. $200K transfer from General
Fund included in FY2018 budget. Staff has listed all assets &
developed replacement schedule funded by the General
Fund, soon to be on EAM.
Pavilion renovations and playground replacement are scheduled
to be completed this spring at Meadow’s Park. Additional sidewalk
work will be completed to meet ADA compliance as well. The pool
filters at Williams Drive Pool will be replaced in April.
Pavilion renovations and playground replacement are scheduled to
be completed this spring at Meadow’s Park. Additional sidewalk
work will be completed to meet ADA compliance as well. The pool
filters at Williams Drive Pool will be replaced in before the upcoming
pool season. Village pool and the outdoor Recreation Center Pool
will be re-plastered after the 2018 pool season.
Emergency Medical Service
Special Revenue Fund
2014/15 Annual Budget assumed EMS Program to be
operationally active by June 2015 with revenues to offset
operating and capital costs. Operating deficit would be
funded internally until capital costs were recovered in 5
years.
Fiscal Year 2017 ending fund balance is $(637,773), a decrease
from 2016 ending fund balance of $(909,490). An increase in
revenue collection has dramatically increased the EMS funds
overall position, however, staff estimates it will take several years
to bring the fund back into balance after the start-up capital
expenditures. The new peak unit was approved in a December
Budget Amendment, adding staffing and ambulance costs to the
fund.
As of April 30, 2018, EMS revenue collections are about $1.18
million, which is behind budget projections. At this time, year-end
revenue is estimated to be $2.4 million, budget is $2.6 million. Staff
continue to monitor EMS revenue, overtime, and medical supply
expenses monthly.
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Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 12/31/17 Status Updates - 3/31/18
Major Technology
Replacement (IT Internal
Service Fund)
CIS billing to be replaced in 2016, funded by utility funds.
Enterprise Resource Planning System (Finance and HR)
selection consultant funding included in the FY2017 budget.
The FY 18 budget includes $2,700,000 for acquisition of the
new Enterprise Resource Planning system(s). The final price
has not been agreed upon in the bid process.
The FY2018 IT allocation model includes $500K of cash funding for
the annual subscription fees for the new ERP system. This is an
estimate until staff select an actual vendor. The model also
includes $300K of increases to existing software contracts. These
large increases are reflected through the many funds throughout
the City. Passing through these costs is necessary to keep the fund
balance from decreasing.
Staff are developing the FY 2019 IT budget with the goal of funding
the asset maintenance reserve, increases for major subscription
contracts, and improving disaster recovery by adding a backup data
center.
Radio Equipment Replacement
Communication system consisting of 500 on-body and in-
vehicle radios for Police, Fire, and GUS. Replacement radios
are compatible with newer technology.
The 2017 radios are received and being programmed and
deployed. The Emergency Management Coordinator is working on
the procurement of phase II in FY2018. Phase III will be included in
preparations for the FY2019 budget.
No changes from prior quarter.
Street Maintenance
The City funds street maintenance in the General Fund,
supplemented by a 1/8th Street Sales Tax special revenue
fund. In 2017 and 2018, the Council and GTAB reviewed
various methods for enhanced street maintenance and
costs. Direction from Council is to use high performance
surface seals and pavement wearing coarses and begin
programmatically addressing the street network's deferred
maintenance backlog, creating a need for approximately $2
million more per year for street maintenance.
Staff are reviewing funding alternatives to match this level of
maintenance and will bring recommendations forward as part of the
budget process.
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