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Q3 2018
FINANCIAL REPORT AND INVESTMENT REPORT FOR QUARTER ENDED JUNE 30, 2018
FINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended June 30, 2018
Table of Contents
Executive Summary .................................................................................................................................... 1-4
General Fund Schedule ................................................................................................................................. 5
Electric Fund Schedule .................................................................................................................................. 6
Water Services Fund Schedule ...................................................................................................................... 7
Joint Services Fund Schedule ......................................................................................................................... 8
Council Discretionary Fund Schedule ............................................................................................................ 9
Convention & Visitors Bureau Fund Schedule ............................................................................................. 10
Paramedic Fund Schedule ........................................................................................................................... 11
Airport Fund Schedule ................................................................................................................................. 12
Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 13
Georgetown Economic Development Corporation Fund Schedule ............................................................. 14
Quarterly Investment Report - City ........................................................................................................ 15-29
Quarterly Investment Report - GTEC ...................................................................................................... 30-35
Quarterly Investment Report - GEDCO ................................................................................................... 36-41
Grant Applications ....................................................................................................................................... 42
Capital Improvement Projects ................................................................................................................ 43-45
Long-term Commitments and Other Unfunded Liabilities ..................................................................... 46-48
F FY2018 Quarterly Report
EXECUTIVE SUMMARY FOR THE QUARTER ENDED JUNE 30, 2018
I. QUARTERLY FINANCIAL ANALYSIS
The “Budget Column” presented in the fund schedules reflect the budget as of June 30, 2018 – the end of the quarter.
Council approved a mid-year budget amendment on July 10th. Therefore, the budget column is not inclusive of the
amendment, however, the projection column does account for the amendment and mirrors the information
presented in the Council Budget Workshop and City Manager’s Proposed Budget.
GENERAL FUND REVENUES:
General Fund revenues collected for the third quarter of
fiscal year 2018 (FY2018) are 7.0% ahead of fiscal year 2017.
The total revenue collected year to date (YTD) for the
General Fund is $45.5 million.
The sales tax collections through June totaled $8.3 million,
or 58.1% of budget. Sales tax is two months in arrears. Sales
tax revenues are on target to meet the year-end projection
of $14.7 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 payments. Property tax
revenue for the third quarter of FY2018 is up 5.6%, or
$649,584 from the third quarter of FY2017.
The City collects franchise fees for electric, natural gas,
cable, and non-cellular telephone services. Through the
third quarter, franchise fee revenues total $3.8 million in
2018, an increase of 6.7% from the third 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. Through the
third quarter of the fiscal year, the City has collected $5.7
million ROI, an increase of 5.5% over this time last year.
Environmental services revenues are up 20.7% from third quarter of FY2017. This increase is due to the growth in
the customer base and the implementation of new rates.
Development related revenue totals $1.96 million, or 77% of budget through the third quarter. The chart to the right
illustrates the growth in building permits the City has seen in FY2018.
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
1
F FY2018 Quarterly Report
Overall, General Fund primary revenues are strong in the third quarter of FY2018 and are higher than the prior year.
GENERAL FUND EXPENDITURES:
General Fund operating expenditures for the third quarter of fiscal year 2018 are at 74.1% of budget. Total salaries
and benefit expenditures through the third quarter total $26.4 million or 77.3% of budget. Other operational costs
total $18.2 million, or 70.0% of budget.
Administration Services Division (Administrative Services, City Council, City Secretary, and Social Service Funding)
expenditures for the third quarter total $1.8 million, which represents 68% of budget. Year-to-date expenditures for
the Community Services (Parks and Rec., Library, and Communications) and Finance Division (Municipal Court) total
$8.1 million or 70.1% of budget. The Georgetown Utility System Division (Environmental Services, Inspections, Public
Works, and Streets) expenditures through the third quarter total $7.3 million or 65% of budget. Capital maintenance
on streets is seasonal and will see more spending in 4th quarter. Year-to-date expenditures for Public Safety total
$22.1 million, which represents 77.7% of budget. The Fire Division continues to experience vacancies resulting in
increased overtime costs. Overall, General Fund expenditures are within budget and the fund can cover the 90-day
Contingency Reserve and the Economic Stability Reserve.
UTILITY FUNDS:
Electric sales revenue through the third quarter of FY2018 totals $47.8 million, up 9.3% compared to the prior year’s
third quarter. The increase is due to growth in the customer base and the impact of the power cost adjustment. Total
operating revenues are projected to end FY2018 at $74.4 million, $2.36 million more than budget.
Water revenue is up 13.3% while wastewater revenue is up 4.7% compared to last year. The increases are due to
growth in the system and impact fees. Total operating revenues are projected to finish the year at $57.3 million.
OTHER MAJOR FUNDS:
Hotel Occupancy Tax revenue is $1.0 million year-to-date, an increase of 13.2% from the prior year due to the
Sheraton Hotel. Airport revenue is up 1.1% 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 third quarter of fiscal year
2018 includes the deposit of bond proceeds, the maturing of financial institution deposits (CDs) and transfers to new
CDs. Recent maturities are held in consolidated cash in preparation for August municipal debt payments. We
purchased a CD with new banking institutions to increase diversity. The new bank we are investing with is BTH Bank.
Interest rates for money market accounts and CD’s have continued to increase due to the Federal Open Market
Committee (FOMC) increasing the rate by .25% in June 2018. The City will continue soliciting the best rates to
improve both diversity and yield, while keeping in mind safety and liquidity.
The Investment Reports for the quarter ended June 30, 2018, and the supporting schedules are attached. Valley
View Consulting, L.L.C., has prepared the attached investment reports. A component of our investment advisory
services contract includes Valley View preparing the quarterly investment reports on behalf of the City. A summary
of the investment balances at June 30, 2018, compared to the prior quarter, is shown below for the City, as well as
Georgetown Transportation Enhancement Corporation (GTEC) and Georgetown Economic Development Corporation
(GEDCO).
2
F FY2018 Quarterly Report
CITY GTEC GEDCO
3/31/18 6/30/18 3/31/18 6/30/18 3/31/18 6/30/18
Total cash and investments
$173,516,846 $203,105,508 $19,387,468 $20,607,520 $6,339,643 $6,651,120
Average Yield 1.60% 1.83% 1.62% 1.90% 1.49% 1.92%
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. As interest rates have risen, the City is also managing yield on bond proceeds for arbitrage
purposes.
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 City’s investment portfolio includes
bank deposits, local government investment pool balances, money market accounts, and financial institution deposits
(CD’s). 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,
we have 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 has worked 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. The City has looked at various options to maximize our 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: Phase one of San Gabriel Park is complete. A contract with Prime Construction was
approved by City Council on May 22, 2018 for the construction of phase two. Construction is expected to be
completed by June 2019. Items included are entry monuments, roadway and parking improvements, four medium
3
F FY2018 Quarterly Report
size picnic and barbecue pavilions, a large multi-use pavilion, 10 small picnic pavilions, trails and trail heads, two
children’s play areas, restoration of two existing springs, one new small restroom building, lighting for two existing
volleyball courts, one lighted basketball court, directional and interpretive signage, open spaces and landscaping. In
addition, the trail extension from San Gabriel Park to the park at Katy Crossing will also be constructed.
TRANSPORTATION
Rivery Extension is a $4.5 million project from the 2015 Road Bond. Construction is underway with crews working on
potholing existing utilities and installing new utilities while also excavating and prepping subgrade.
Airport Road is a fiscal year 2017 GTEC project. Patin Construction is working on processing base material while
placing concrete for the headwalls and footings for the cox culverts and making drainage improvements.
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 by the end of the year. Structural steel is complete and interior framing is under way.
ELECTRIC
New development continues to exceed expectations in the third quarter with additional residential, multifamily,
and business projects in progress. Projects under construction include Holt Caterpillar, Ewald Kubota, Hillwood
Section 2, Downtown West, Carroll at Rivery Ranch, Mansions II, and Woodsprings Hotel.
WATER
The Berry Creek Interceptor design is 90% complete and the easement acquisition is in progress. Berry Creek
Interceptor phase 4, 5, and 6 will be approximately 15,000 linear feet of 36-inch wastewater from the existing lift
station at Sun City to the Berry Creek lift station. 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 was completed in May 2018.
The Pecan Branch Wastewater Treatment Plant expansion will take the existing plant from 1.5 million gallons to 3
million gallons of treatment capacity. 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. This project
will be approximately 44,500 LF of 30—inch waterline from Daniels Mountain Water storage tank to Braun Water
storage tank. Construction is estimated to start in December 2018.
4
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 12,233,596 12,405,718
Revenue
Administrative Charges 2,087,555 172,287 1,558,958 2,087,555
All Other Revenue 4,056,192 943,397 3,420,916 4,187,026
Development and Permit Fees 2,553,500 311,701 1,967,116 3,102,150
Franchise Fees 5,203,863 303,922 3,794,947 5,300,544
Garey Park 225,000 15,732 16,232 225,000
Parks and Rec Fees 2,339,220 355,801 1,710,762 2,437,500
Property Tax 13,674,500 99,954 12,223,146 13,400,000
ROI 8,417,635 804,739 5,678,880 8,473,681
Sales Tax 14,026,000 1,181,988 8,308,355 14,743,750
Sanitation Revenue 8,974,500 738,963 6,520,958 8,873,500
Transfer In 472,200 68,750 253,450 472,200
Revenue Total 62,030,165 4,997,234 45,453,721 63,302,906
Expense
Administrative Services 1,560,089 161,814 1,177,597 1,557,444
Animal Services 875,831 88,249 654,604 828,681
Arts & Culture 80,900 2,200 23,465 80,931
City Council 175,087 12,527 136,191 173,230
City Secretary 916,463 62,934 490,913 727,349
Code Enforcement 415,749 36,122 278,189 390,366
Communications 400,137 43,253 294,484 389,324
Environmental Services 7,623,412 649,469 5,132,192 7,715,241
Fire Emergency Services 10,789,592 1,115,797 8,025,130 10,956,430
Fire Support Services 2,648,858 269,935 2,060,914 2,680,268
Garey Park 621,557 83,853 232,131 517,820
General Gov't Contracts 3,253,786 278,820 3,145,346 3,742,660
Inspections 1,231,441 128,137 869,157 1,160,914
Library 2,554,935 277,237 1,994,695 2,525,656
Municipal Court 632,929 62,024 462,146 614,394
Parks 2,578,108 253,879 1,947,433 2,580,317
Parks Admin 607,229 64,666 462,586 609,666
Planning 1,709,954 158,460 1,186,495 1,534,488
Police Admin 2,234,502 203,563 1,709,384 2,220,396
Police Operations 11,511,871 1,420,798 9,392,007 12,043,704
Public Works 1,241,845 52,167 877,605 1,138,228
Rec Programs 1,338,038 170,282 697,317 1,318,687
Recreation 2,527,496 296,385 1,890,826 2,491,467
Streets 4,657,416 333,701 2,539,833 4,535,851
Tennis Center 435,014 41,409 278,577 427,705
Transfer Out 1,739,523 3,739 1,728,304 1,928,103
Expense Total 64,361,761 6,271,421 47,687,521 64,889,320
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (2,331,596) (1,274,187) (2,233,801) (1,586,414)
AVAILABLE FUND BALANCE 9,902,000 10,819,304
Year-End Projection to Approved: Jun FY2018
General Fund
5
APPROVED 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 7,103,307 47,797,527 69,416,907
Interest 48,318 11,225 45,093 47,632
Other Revenue 4,469,955 876,683 3,713,457 5,017,865
Operating Revenue Total 72,113,412 7,991,215 51,556,076 74,482,405
Operating Expenditures
CRR Credits (2,000,000) (287,875) (6,101,990) (7,000,000)
Georgetown Utility Systems 17,915,971 1,345,801 13,455,616 18,433,826
Purchased Power 44,000,000 6,519,847 43,436,398 52,000,000
Transfer Out‐Interfund Transfers 92,600 ‐ 92,600 92,600
Transfer Out‐ROI 5,493,707 479,754 3,636,758 5,235,000
Operating Expenditures Total 65,502,278 8,057,527 54,519,382 68,761,426
Total Net Operations 6,611,134 (66,312) (2,963,306) 5,720,979
Non‐Operating Revenue
Bond Proceeds 6,537,000 ‐ 6,727,776 6,537,000
Transfers in 90,981 ‐ 90,981 540,981
Non‐Operating Revenue Total 6,627,981 ‐ 6,818,757 7,077,981
Non‐Operating Expenditures
CIP 9,880,487 548,866 3,835,459 6,508,565
Interest Expense 1,697,769 ‐ 665,850 1,259,116
Debt Issuance Cost 15,000 ‐ 190,776 15,000
Debt Service 2,539,258 ‐ 1,547 2,959,731
Non‐Operating Expenditures Total 14,132,514 548,866 4,693,631 10,742,412
Total Net Non‐Operations (7,504,533) (548,866) 2,125,125 (3,664,431)
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (893,399) (615,178) (838,181) 2,056,548
ENDING FUND BALANCE 11,930,858 8,814,823
Contingency 5,125,000 5,125,000
Rate Stabilization 5,500,000 ‐
AVAILABLE FUND BALANCE 1,305,858 3,689,823
Year‐End Projection to Approved: Jun FY2018
Electric Fund
6
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB) YEAR‐END PROJECTION
BEGINNING FUND BALANCE 67,881,131 74,958,153
Operating Revenue
Capital Recovery Fee 6,672,500 2,520,510 12,400,492 12,416,521
Interest 192,385 131,794 915,880 794,596
Irrigation Utility Revenue 225,000 51,259 207,050 214,891
Other Revenue 2,176,250 392,593 3,860,160 3,851,044
Raw Water Revenue 178,500 13,171 92,618 141,089
Transfer In, Debt 116,613 ‐ ‐ 116,613
Wastewater Utility Revenue 10,850,000 940,528 8,192,589 11,007,305
Water Utility Revenue 27,748,195 3,164,153 20,203,229 28,756,997
Operating Revenue Total 48,159,443 7,214,008 45,872,018 57,299,056
Operating Expenditures
Irrigation 204,300 13,707 92,607 205,000
Transfer Out, Fleet/Joint Service 62,000 ‐ 62,000 62,000
Transfer Out, General 425,000 68,750 206,250 425,000
Transfer Out, ROI 2,686,505 303,701 1,882,225 2,993,788
Transfer Out, Utilities 90,981 ‐ 90,981 540,981
Wastewater Distribution 613,000 28,079 477,121 592,810
Wastewater Plant Management 2,437,025 184,377 1,901,718 2,412,396
Water Administration 18,602,018 1,864,315 14,015,733 18,313,695
Water Distribution 2,723,300 221,571 1,608,278 2,194,442
Water Operations 3,769,545 430,012 2,952,275 3,682,263
Water Plant Management 2,548,726 206,343 1,720,612 2,319,630
Operating Expenditures Total 34,162,400 3,320,855 25,009,801 33,742,005
Total Net Operations 13,997,043 3,893,153 20,862,217 23,557,051
Non‐Operating Revenue
Bond Proceeds ‐ ‐ ‐ ‐
Non‐Operating Revenue Total ‐ ‐ ‐ ‐
Non‐Operating Expenditures
CIP 90 65,085,236 1,149,695 9,819,726 65,495,658
CIP 91 5,178 ‐ ‐ 5,178
Debt Service 5,344,535 ‐ 1,415,884 5,344,535
Non‐Operating Expenditures Total 70,434,949 1,149,695 11,235,610 70,845,371
Total Net Non‐Operations (70,434,949) (1,149,695) (11,235,610) (70,845,371)
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (56,437,906) 2,743,458 9,626,608 (47,288,319)
ENDING FUND BALANCE 11,443,225 27,669,833
Contingency 6,000,000 6,000,000
AVAILABLE FUND BALANCE 5,443,225 21,669,833
Year‐End Projection to Approved: Jun FY2018
Water Fund
7
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 302,565 711,548
Revenue
Gedco Admin/Contract Fee 221,328 18,444 165,996 221,328
Gtec Admin/Contract Fee 166,882 13,907 125,163 166,882
Interest 10,000 2,567 14,497 15,000
Other 26,774 53,513 322,474 257,469
Service Fees - Airport 131,785 10,982 98,838 131,785
Service Fees - Conservation 100,350 8,363 75,267 -
Service Fees - Electric 4,233,598 352,800 3,175,200 4,233,598
Service Fees - General 3,345,567 278,797 2,509,173 3,345,567
Service Fees - Stormwater 938,969 78,247 704,223 938,969
Service Fees - Water 7,248,183 604,015 5,436,135 7,248,183
Transfer In 5,000 - - 80,000
VPID Admin/Contract Fee 8,966 747 6,723 8,966
Revenue Total 16,437,402 1,422,382 12,633,689 16,647,747
Expense
Accounting 947,423 101,015 707,425 944,432
City Wide Hr 415,400 42,995 185,263 283,765
Conservation 982,774 68,962 438,992 718,059
Customer Care 4,054,593 349,392 3,071,839 4,015,638
Economic Development 596,092 53,906 427,223 576,201
Engineering 2,143,112 196,908 1,356,022 1,926,432
Engineering Support 1,069,289 94,912 706,887 1,002,015
Finance Administration 1,115,967 78,243 864,808 1,116,361
Gus Administration 1,469,912 138,820 1,047,554 1,457,786
Human Resources 949,739 103,234 674,430 905,323
In-House Legal 913,277 98,390 733,541 1,007,640
Insurance & Legal 705,000 2,216 620,384 775,000
Joint Svcs Con 569,000 61,436 642,144 985,825
Purchasing 740,589 66,373 480,855 734,602
Transfer Out 67,800 - 67,800 67,800
Expense Total 16,739,967 1,456,802 12,025,166 16,516,879
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (302,565) (34,420) 608,523 130,868
AVAILABLE FUND BALANCE 0 842,416
Year-End Projection to Approved: Jun FY2018
Joint Services Fund
8
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 300,473 285,808
Revenue
Interest 2,000 1,744 10,679 9,000
Transfer In, General Fund 1,000,000 - 1,000,000 1,188,580
Revenue Total 1,002,000 1,744 1,010,679 1,197,580
Expense
Transfer Out, GCP - - - 100,000
Transfer Out, General Fund - - - 75,000
Transfer Out, Joint Services - - - 75,000
Expense Total - - - 250,000
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 1,002,000 1,744 1,010,679 947,580
ENDING FUND BALANCE 1,302,473 1,233,388
Year-End Projection to Approved: Jun FY2018
Council Discretionary Fund
9
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 690,201 839,544
Revenue
Hotel/Motel Occupancy Tax Revenues 1,200,000 126,809 1,008,999 1,325,000
Interest 1,500 1,515 8,171 7,000
Other 12,000 813 14,573 18,515
Poppy Festival 109,400 540 128,714 135,451
Revenue Total 1,322,900 129,676 1,160,457 1,485,966
Expense
Operations 551,381 26,675 342,054 549,739
Personnel 361,237 38,502 272,213 357,176
Poppy Festival 136,200 3,715 124,039 136,200
Transfer to Facilities 49,565 4,130 37,170 49,565
Transfer to Fleet 5,090 424 3,816 5,090
Transfer to General Fund 10,200 - 10,200 10,200
Transfer to Information Technology 24,806 2,067 18,603 24,806
Expense Total 1,138,479 75,513 808,094 1,132,776
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 184,421 54,163 352,362 353,190
ENDING FUND BALANCE 874,622 1,192,734
Contingency 187,147 187,147
Reserved for Capital 687,474 687,474
AVAILABLE FUND BALANCE - 318,112
Year-End Projection to Approved: Jun FY2018
Convention & Visitors Bureau Fund
10
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE (501,205) (656,180)
Revenue
TASPP Revenue 128,000 - - 128,000
EMS Revenue 2,617,762 223,922 1,846,232 2,486,307
Franchise Fees 20,000 - 4,000 20,000
Transfer In 44,870 3,739 33,651 44,870
Revenue Total 2,810,632 227,661 1,883,883 2,679,177
Expense
O&M 636,212 55,227 487,615 590,395
Personnel 1,788,522 249,637 1,659,013 1,788,522
Expense Total 2,424,734 304,864 2,146,628 2,378,917
EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 385,898 (77,203) (262,745) 300,260
AVAILABLE FUND BALANCE (115,307) (355,920)
Year-End Projection to Approved: Jun FY2018
Paramedic Fund
11
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 2,794,919 198,514 1,871,574 2,596,789
Interest and Other 65,600 2,280 35,716 83,139
Leases and Rentals 882,484 68,432 621,754 843,996
Operating Revenue Total 3,743,003 269,226 2,529,044 3,523,924
Operating Expenditures
Debt Service 125,850 - 18,142 124,268
Operations-Fuel 2,296,250 129,117 2,200,637 2,093,207
Operations-Non Fuel 667,504 34,933 463,920 634,000
Personnel 375,920 41,296 274,334 351,814
Transfers Out 53,500 - 53,500 53,500
Operating Expenditures Total 3,519,024 205,347 3,010,533 3,256,789
TOTAL NET OPERATIONS 223,979 63,879 (481,489) 267,136
Non-Operating Revenue
Bond Proceeds 150,000 - 145,000 150,000
Other Revenue - 41,810 45,701 45,701
Grants 35,000 - 20,341 42,578
Non-Operating Revenue Total 185,000 41,810 211,042 238,279
Non-Operating Expenditures
Airport Ramp 15,000 - - 15,000
Edge Lighting 150,000 - - 150,000
Hangar Upgrades 33,000 1,375 18,258 33,583
Pavement Upgrades 40,000 - 1,175 21,175
Runway Rehab 16,500 - - 16,500
Wildfire Management 25,500 2,700 12,900 13,500
Other Expense - - 257 200,887
Non-Operating Expenditure Total 280,000 4,075 32,589 450,644
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS 128,979 101,614 (303,037) 54,770
ENDING FUND BALANCE 565,713 491,504
RESERVES
Contingency 213,158 213,158
Reserves Total 213,158 213,158
AVAILABLE FUND BALANCE 352,555 278,346
Airport Operations Fund
Year End Projection to Approved as of June 2018
12
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB) YEAR‐END PROJECTION
BEGINNING FUND BALANCE 22,051,111 18,241,681
Operating Revenue
Sales Tax 6,575,000 540,357 3,845,932 6,775,000
PID Assessments 553,201 ‐ ‐ 553,201
Interest 127,000 27,298 217,060 242,000
Operating Revenue Total 7,255,201 567,655 4,062,992 7,570,201
Operating Expenditure
Administrative Support 364,814 30,276 272,484 364,114
Operating Expenditure Total 364,814 30,276 272,484 364,114
TOTAL NET OPERATIONS 6,890,387 537,379 3,790,508 7,206,087
Non‐Operating Revenue
Other Grant Revenue ‐ ‐ 11,222 11,222
Non‐Operating Revenue Total ‐ ‐ 11,222 11,222
Non‐Operating Expenditure
Pecan Center Dr to Airport Rd (FY15)5,390,290 276,818 2,900,709 2,500,000
Rivery TIA Improvements 1,016,790 4,995 633,908 1,016,790
FM 971 / Fontana 66,431 21,173 ‐ 66,431
Rivery‐Extension Williams Dr to NW Blvd (FY16)767,678 11,750 29,527 767,678
IH 35 / HWY29 Intersection 650,000 ‐ 43,347 650,000
NB Frontage 2338 to Lakeway ‐ 2,004 ‐ ‐
SW Bypass 2243 to IH35 333,962 ‐ 205,464 205,410
FM1460 Widening 501,260 ‐ 294 100,000
Wolf Ranch Pkwy Extension 283,350 ‐ ‐ ‐
Mays St 3,252,729 ‐ 251,036 1,000,000
Tamiro Improvements 410,000 ‐ ‐ ‐
Available for Projects TBD 1,643,750 ‐ ‐ ‐
SE Inner Loop Widening (Rock Ride ROW)‐ ‐ ‐ 900,000
Debt Service 3,330,135 ‐ 601,515 3,330,885
Non‐Operating Expenditure Total 17,646,375 316,740 4,665,800 10,537,194
TOTAL NET NON‐OPERATIONS (17,646,375) (316,740) (4,654,578) (10,525,972)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (10,755,988) 220,639 (864,070) (3,319,885)
ENDING FUND BALANCE 11,295,123 14,921,796
RESERVES
Contingency 1,643,750 1,643,750
Reserved Bond Proceeds 4,150,000 1,650,000
Reserves Total 5,793,750 3,293,750
AVAILABLE FUND BALANCE 5,501,373 11,628,046
Georgetown Transportation Enhancement Corporation Fund
Year‐End Projection to Approved: Jun FY2018
13
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 5,902,863 6,051,152
OPERATING REVENUES
Interest 25,400 10,256 68,798 68,800
Lease Revenue (Grape Creek)24,000 - 36,000 36,000
Miscellaneous Revenue 61,100 - 60,991 61,000
Sales Tax 1,643,750 135,089 961,483 1,693,750
Sale of Property - -
OPERATING REVENUES Total 1,754,250 145,345 1,127,272 1,859,550
OPERATING EXPENDITURES
Debt Service 212,569 - 43,784 212,569
Interest Expense 26,128 - - 26,128
Joint Services Allocation 221,328 18,444 165,996 221,328
Miscellaneous Expense 11,108 - 10,991 11,040
Principal Reduction 90,485 - - 90,485
Promotional & Marketing Program 81,000 3,000 78,301 81,000
Special Services 57,500 - 42,500 57,500
Supplies 300 - - -
Travel & Training 1,500 - - 500
OPERATING EXPENDITURES Total 701,918 21,444 341,572 700,550
TOTAL NET OPERATIONS 1,052,332 123,901 785,700 1,159,000
Catalyst 36,000 - 18,839 18,839
DisperSol 60,000 - 40,000 40,000
Economic Development Projects -Undetermined 6,308,518 - - 150,000
Texas Life Sciences 139,740 - 139,740 139,740
NON-OPERATING EXPENDITURES Total 6,544,258 - 198,579 348,579
TOTAL NET NON-OPERATIONS (6,544,258) - (198,579) (348,579)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (5,491,926) 123,901 587,121 810,421
ENDING FUND BALANCE 410,938 6,861,573
RESERVES
Contingency 410,938 423,438
RESERVES Total 410,938 - - 423,438
AVAILABLE FUND BALANCE - 6,438,135
Georgetown Economic Development Corporation Fund
Year-End Projection to Approved: Jun FY2018
14
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
Department Federal Grantor Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized
Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1514GRGTN Construct Parallel Taxiway and Fuel Farm 621,143.96 -
Airport N/A Texas Department of Transportation-Aviation M1814GEOR RAMP Grant - Routine Airport Maintenance Program 61,477.81 20,341.16
Airport Federal Aviation Administration Texas Department of Transportation-Aviation 16MPGRGTN Airport Master Plan Update 42,090.00 -
Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1814GRGTN Runway 18/36 Rehabilitation - -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
17WAGEORG Wildlife Hazard Assessment - -
Fire Federal Emergency
Management Agency
Texas Department of Public
Safety - TDEM
LPDM-PJ-06-TX-2008-011 Prehazard Mitigation - Sirens 8,351.71 -
Fire US Department of Homeland
Security
Texas Department of Public
Safety - TDEM
17TX-EMPG-1421 EMPG Salaries (Berg, Shell
and Gilliam)
129,991.95 -
Gus - Electric N/A Bloomberg Philanthropies 2017 Mayors Challenge - 100,000.00
Library Institute of Museum & Library
Services
Texas State Library &
Archives Commission
LS-00-17-0044-17 TSL Resource Coordinator -
2nd year (Patrick Lloyd)
53,152.32 53,152.32
Planning US Department of Housing &
Urban Development
Williamson County 322P Georgetown CDBG 6th & Scenic Sidewalk 130,664.00 114,919.90
Police Bureau of Justice Assistance N/A KXPIIIA Bullet Proof Vests - Supply Police with new vests 11,098.48 5,549.24
Public Works Dept. of Transportation /Federal Highway Texas Department of Transportation CSJ-0914-05-187 Highway Planning & Construction (Austin Ave - -
Division Grantor Status
Fire Texas Department of Public
Safety - TDEM
Urban Search and Rescue
(US&R)
Council Approved MOU
April 10th.
Fire US Department of Homeland
Security
SAFER Application Submitted
Gus - Electric Department of Energy (DOE)Battery Storage Project Under DOE Review
Library Institute of Museum & Library Services Resource Coordinator Considering 3rd year
Parks Texas Parks and Wildlife Department (TPWD)Recreation Trails Environmental Review Process
Planning Williamson County (CDBG)Sidewalks and Ramps along 17th St Council Approved Feb 27th. App submitted Apr 4th.
Funding approved Jun 26th.
Reviewed By:
Date: 7/31/2018
CITY OF GEORGETOWN
Grant/Federal Funding Report
as of June 30 2018
COG Name/Purpose
Active
Applications Pending Award
42
Capital Improvement Projects
For the Quarter Ended
June 30, 2018
CIP Quarterly Report - Q3 FY2018 Budget
Year to Date
(W/Encum) Remaining Balance
GENERAL CAPITAL PROJECTS
120-9-0280-90-022 RIVER TRAIL EXPANSION - 26,473 (26,473)
120-9-0280-90-039 RADIO REPLACEMENT, PARKS 64,333 (64,333) 128,666
120-9-0280-90-045 SAN GABRIEL PARK IMPROVEMENT 3,795,205 919 3,794,286
120-9-0280-90-046 GAREY PARK 912,359 784,642 127,717
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 - 24,891 (24,891)
120-9-0280-90-059 ADA FACILITIES 326,345 2,685 323,660
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
120-9-0380-90-046 FIRE STATION, DESIGN - 140 (140)
120-9-0380-90-156 PUBLIC SAFETY FACILITY 27,100 68,526 (41,426)
120-9-0380-90-159 FIRE STATION 7 2,000,000 1,885,575 114,425
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 31,599 2,918,401
120-9-0381-91-022 RADIO REPLACEMENT 500,000 - 500,000
120-9-0480-90-003 RADIO REPLACEMENTS, FIRE - (209,183) 209,183
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 11,318,694 14,671,988
120-9-0680-90-013 DOWNTOWN WEST SIGNAGE 125,000 - 125,000
120-9-0680-90-014 DOWNTOWN PARKING EXPANSION 250,000 - 250,000
120-9-0780-90-039 RADIO REPLACEMENT, POLICE - (214,462) 214,462
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 2,324,866 602,986 1,721,880
120-9-0880-90-092 SOUTHEAST INNER LOOP - 2,280 (2,280)
120-9-0880-90-093 ACCESS RTW TO GOVERNMENT SRV - 34,740 (34,740)
120-9-0880-90-104 SIGNAL AT SHELL/VERDE VISTA 40,006 224,841 (184,835)
120-9-0880-90-105 NORTHWEST BLVD BRIDGE 10,500,000 141,150 10,358,850
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 4,500,000 266,213 4,233,787
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)300,000 122 299,878
120-9-0880-91-007 CHURCH ST. (8TH-9TH)11,922 - 11,922
120-9-0880-91-008 OLD TOWN NORTHEAST 786,876 8,013 778,863
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 15,613,460 51,971,004
***
*
*The "Budget Column" presented reflects the budget as of June 30, 2018 - the end of the quarter. Council approved a mid-
year budget amendment on July 10th. Therefore, the budget column is not inclusive of the amendment.
43
Capital Improvement Projects
For the Quarter Ended
June 30, 2018
CIP Quarterly Report - Q3 FY2018 Budget
Year to Date
(W/Encum) Remaining Balance
GATEWAY TIRZ
295-9-0602-90-001 CAPITAL IMPROVEMENTS 140,000 - 140,000
GATEWAY TIRZ Total 140,000 - 140,000
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
GTEC
400-9-0980-90-022 SH 29 TO RM2243 SW BYPASS - 53 (53)
400-9-0980-90-024 SW BYPASS-2243 TO IH35 333,962 205,411 128,551
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 3,252,729 251,036 3,001,693
400-9-0980-90-061 FM1460 WIDENING 501,260 294 500,966
400-9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWEST 767,678 29,527 738,151
400-9-0980-90-063 PECAN CENTER DR./ AIRPORT RD.5,390,290 2,900,709 2,489,581
400-9-0980-90-064 RIVERY TIA IMPROVEMENTS 1,016,790 633,908 382,882
400-9-0980-90-065 TAMIRO IMPROVEMENTS 410,000 - 410,000
GTEC Total 14,316,240 4,064,286 10,251,954
PARKLAND DEDICATION
229-9-0280-90-014 FOUNDER'S PARK - 21,209 (21,209)
PARKLAND DEDICATION Total - 21,209 (21,209)
STORMWATER CAPITAL IMPROVEMENT
640-9-0880-90-005 CURB & GUTTER 962,150 433,793 528,358
640-9-0880-90-069 STORMWATER INFRASTRUCTURE UPG 224,000 223,662 338
640-9-0880-90-076 REGIONAL FLOOD STUDY - 52,024 (52,024)
640-9-0880-90-078 18TH AND HUTTO DRAINAGE 77,977 - 77,977
640-9-0880-90-079 2ND AND ROCK POND 13,876 1,080 12,796
640-9-0880-90-080 SERENADA CULVERT IMPROVEMENTS 176,000 115,862 60,138
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 1,579,003 826,420 752,583
STREET TAX SRF
203-9-0880-90-071 STREET MAINTENANCE 3,858,676 489,521 3,369,155
203-9-0880-90-075 ASPHALT RECYCLING - 48 (48)
STREET TAX SRF Total 3,858,676 489,569 3,369,107
*
*The "Budget Column" presented reflects the budget as of June 30, 2018 - the end of the quarter. Council approved
a mid-year budget amendment on July 10th. Therefore, the budget column is not inclusive of the amendment.
44
Capital Improvement Projects
For the Quarter Ended
June 30, 2018
CIP Quarterly Report - Q3 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 5,928 6,033,651
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 440,411 784,745 (344,334)
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 1,805,692 164,711 1,640,981
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 1,207,248 2,635,055
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 - 57,688 (57,688)
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 5,201 8,323,699
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 4,199 995,801
660-9-0581-90-166 EARZ 1,000,000 953,577 46,423
660-9-0581-90-167 SAN GABRIEL INTER SGI-2 2,500,000 - 2,500,000
660-9-0581-90-200 WW INTERCEPTORS - 2,500 (2,500)
660-9-0581-90-220 LIFT STATION UPGRADE 900,280 - 900,280
WATER SERVICES Total 65,090,414 9,819,726 55,270,688
45
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 3/31/18 Status Updates - 6/30/18
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 construction bid of $121,432 was approved by City
Council on February 27th. Construction will begin in May and is
expected to be completed in 60 days.
The columbarium construction bid of $121,432 was approved by City
Council on February 27th. The niche units had a substantially long
lead time for fabrication but are complete. The notice to proceed
for construction of the columbarium is scheduled for the week of
7/23. Construction is expected to take 60 days. The $75,000
perpetual reserve transfer from the General Fund is included in the
FY2019 Proposed Budget.
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.
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.
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.
Staff will bring forward an FY 2018 budget amendment to
appropriate use of this reserve for several large payouts in Police.
The midyear budget amendment has appropriated the full $222,000
reserve to the General Fund for 4 Police department retirements.
The Benefit Payout Reserve is funded at $252,000 in the FY2019
Proposed Budget.
Electric Fund 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.
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.
The 2018 cost of service rate study recommends a minimum cash
balance of $17 million for various purposes. Staff presented new
reserve policies for the Electric Fund to GGAF and Council in June.
The FY 2019 Propsoed Budget includes funding for the 90 day
operational reserve, and partial funding for the non-operating
reserve for debt and capital. The remaining amount will be funded
as the cost of service rate is implemented. The Rate Stabilization
Reserve, up to 10% of Purchased Power costs, will be built over the
next few years.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
June 30, 2018
46
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 3/31/18 Status Updates - 6/30/18
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 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.
The Airport Fund has a positive ending balance and is able to fund
capital projects going forward as well as support a contingency
reserve. The parallel taxiway and fuel storage facility are complete.
The current Airport Master Plan effort has produced a draft Final
Plan moving forward for consideration by the City. The Wildlife
Hazard Assessment has begun and should be completed late 2018.
The Airport is working with TxDOT Aviation to begin the design and
eventual construction of a rehabilitation of the airport main runway.
Staff recommends removing this item from the unfunded liabilities
list.
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 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.
The City is continuing the work on the CIP ADA projects.
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.
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.
Scenic CDBG sidewalk is complete. All punch list and TDLR items are
complete. The only remaining item is vegetation in a few areas of
the project. Old Town NE is in process. All 7 easements are being
finalized. An additional area for the sidewalk has been added to the
scope of work along 7th from Maple to Smith Creek Rd. WPAP has
been submitted to TCEQ for approval.
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 before the upcoming
pool season. Village pool and the outdoor Recreation Center Pool
will be re-plastered after the 2018 pool season.
Renovations to Meadow’s Park are nearing completion and the
Williams Drive Pool filters have been installed. Village Pool and the
outdoor Recreation Center Pool will be re-plastered after the 2018
pool season.
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Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 3/31/18 Status Updates - 6/30/18
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.
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.
As of June 30, 2018 EMS revenue collections are $1.84 million, which
is slightly under budget for FY2018. Year-end revenue is projected
to come in at $2.48 million, budget is $2.61 million. The shortfall in
revenue is primarily driven by vacancies that have kept EMS from
being able to activate the peak unit in FY2019. Staff continues to
monitor operational expenses monthly. EMS revenue is projected
to be $2.56 million in FY2019. The fund continues to improve it's
position as collection rate and demands for service grow. Since Fire
and EMS are an integrated system, staff is recommending to move
the EMS fund into the General Fund in FY2019. The General Fund
will be able to cover the 90-day contingency requirement currently
not being covered in EMS.
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.
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.
The FY 2019 proposed budget includes funding for the technology
replacement reserve, next year’s planned replacement and
maintenance, and the back-up data center. IT has adopted a five-
year strategic plan, and the revised allocation methodology in use
since 2017 fully recovers IT’s hardware and software costs based on
actual usage by customers. As software systems are replaced or
newly acquired, IT is phasing products to the cloud subscription
service model, reducing the need for future asset acquisition and
replacement. Staff recommends removing this item from the
unfunded liabilities list.
Radio Equipment Replacement
Communication system consisting of 500 on-body and in-
vehicle radios for Police, Fire, parks and utilities.
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.
Year three of the four-year radio replacement program is funded in
FY 2019 Proposed Budget.
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 courses 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.
Street Maintenance budget totals $4.3M in the FY2019 Proposed
Budget. This is a similar funding level to recent years. Other major
items in the General Fund budget did not allow for a significant
increase. Staff continue to explore funding sources.
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