HomeMy WebLinkAboutBudget in Brief FY2019The FY2019 Budget is developed around three core
themes. First, the budget continues to address
maintaining service levels. Funding for water services
crews, the preparation of future annexations, and the
opening of Fire Station 7 are included in the budget to
lay the foundation for success in meeting increased
demands for service.
Second, we sought to craft a budget which
continued initiatives and investments. The budget
includes the full year of operations for Garey Park
and a School Resource Officer for Wagner Middle School. Infrastructure
investments include the remaining 2015 Transportation Bond projects, a
downtown parking garage, as well as expanding our current waste transfer
station. We are also expanding our successful Business Improvement Program
from the utility to citywide. This effort to improve processes and efficient use of
resources will pay off as we continue to grow.
Lastly, this Budget is based on planning for the future. In the winter of 2017, the
Council updated the city vision and policy goals that would guide this organization
over the next several years. The FY2019 budget includes funding that is
responsive to the areas of unique experiences, increasing mobility, and
collaboration. The budget also includes updates to utility base rates and
improving several reserve funds. Finally, the budget includes several initiatives to
mitigate risk in the organization. It is the culmination of these three ideas from
which the $354 million FY2019 Budget is developed.
Expense
FY2019
Base
FY2019
Changes
FY2019
Budget
Electric 81,745,627 438,550 82,184,177
General Capital Projects 20,684,000 - 20,684,000
General Debt Service 19,098,656 - 19,098,656
General Fund 65,262,034 4,134,155 69,396,190
Internal Service Funds 42,329,341 1,432,457 43,761,797
Other Enterprise Funds 8,390,739 111,962 8,502,701
Special Revenue Funds 35,618,137 (1,318,035) 34,000,102
Water 75,186,825 1,134,810 76,321,635
Total Budget 348,315,359 5,933,900 354,249,258
Making History in a
Historic Town
City Manager David Morgan
Revenue
FY2019 FY2019 FY2019
Bond Proceeds 43,528,165 - 43,528,165
Charges for Service 20,720,721 2,760,896 23,481,617
Development and Permit
Fees 4,698,000 - 4,698,000
Franchise Fees 5,434,000 - 5,434,000
Interfund Transfers—ROI 20,692,531 (40,000) 20,652,531
Other Revenue 54,832,177 (2,760,896) 52,131,281
Parks and Rec Fees 2,953,100 - 2,953,100
Property Tax 30,561,662 - 30,561,662
Sales Tax 29,302,400 - 28,302,400
Utility Revenue 125,959,499 - 125,959,499
Total Budget 337,742,255 - 337,702,255
Note: The variance between total expenses and total revenues
reflects the use of fund balances from previous fiscal years for
capital and other one-time uses, per the City’s fiscal policy.
Economic Activity
Sales tax revenue is budgeted at $28.3 million, which is 4%
over year-end actuals. Financial modeling indicates the
growth rate seen in the previous year will continue into
FY2019.
Increases in sales tax revenue are being driven by growth in
the retail, food, and manufacturing sectors. Overall the City
has seen increased sales tax over the past five years.
Did You Know?
A portion of sales tax revenues are used to fund the City’s
4A and 4B corporations. These entities help spark
economic activity by building roads, developing
infrastructure, and negotiating incentive packages to help
move businesses to Georgetown.
42%
21%
11%
10%
9%
7%
FY2018 Sales Tax Makeup
Retail
Other
Manufacturing
Food
Wholesale
Information
18.65 20.46 20.98
23.44 25.10 27.25
0
5
10
15
20
25
30
FY2013 FY2014 FY2015 FY2016 FY2017 FY2018
Millions
Sales Tax History
Tax Information
$0.42 $0.42 $0.44 $0.46 $0.50 $0.52 $0.55 $0.61 $0.66
$0.75
$0.81
$0.00
$0.10
$0.20
$0.30
$0.40
$0.50
$0.60
$0.70
$0.80
$0.90
FY2019 Property Tax Rates
$0.41
$0.42
$0.42
$0.43
$0.43
$0.44
$0.44
$0.45
$0
$2
$4
$6
$8
$10
FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 Tax RateAssessed ValueBillionsAssessed Value vs Property Tax Rate
Certified Assessed Value Tax Rate
1,173.99
1,283.00
3,938.45
Combined Property Tax Rate
City of Georgetown Williamson County Georgetown ISD
Historical Certified Assessed Value and Property Tax Rate
Certified assessed values determine the tax base for the City and aids in the
adoption of the tax rate. With increases in both commercial and residential
development, the City has increased certified value by over $3.1 billion since
FY2014. With these increases and future growth projections, the City is able
to generate significantly more revenue while maintaining one of the lowest
tax rates in the Central Texas region.
For FY2019, the Assessed Value (AV) totals $7.8 billion. This represents an
increase of 7.27% over last year’s AV and an increase of nearly 55% com-
pared to five years ago. The increased valuation has allowed the City to
maintain a low tax rate while still delivering high levels of service and new
programs. In FY2019, the City’s tax rate will remain at 42 cents per $100 in
valuation.
The total combined property tax bill in the City of Georgetown totals
$2.29 per 100 of valuation. Based on the average home value of
$279,521, the City of Georgetown’s portion of the average property
tax bill totals $1,173.99.
The City of Georgetown’s tax rate is one of the lowest in the region.
Keeping Georgetown Safe
Preparation for staffing of Fire Station 7 begins in FY2019 with the addition of 14
firefighters. The station will serve the growing east side of town and is planned to open
in early 2020. In response to the continued growth in development construction, the
budget also includes a Fire Life Safety Inspector. A part-time Animal Services Technician
will be converted to full-time, and the School Resource Officer is added at Wagner Middle
School.
FY2019 BUDGET HIGHLIGHTS PUBLIC SAFETY
Did You Know?
In the most recent Citizen
Survey, 96% of residents
thought Police Protective
Service were “good” or
“excellent”, while 97%
thought Fire & EMS
Services were “good” or
“excellent”.
The City is partnering with
Emergency Services District 8 on the
construction of Fire Station 6 on the
west side of town. The Police
Department will also receive new
investigation supplies, Cellebrite
Touch Forensics upgrades, and
contract funding increases in
FY2019.
Keeping Georgetown Running
Water and Electric Fund Improvements
One of the main goals of the FY2019 Budget is to improve the City’s elec-
tric and water services. These improvements include personnel additions,
equipment upgrades, and capital improvement projects.
The FY2019 Budget features three new operating improvements to the
Water Services and Electric Funds. Two Water Services Supervisors and
Technicians will be added to keep up increased service demand. Treat-
ment plant controls will also be upgraded, as many of the key parts have
reached their life expectancy.
The electric CIP totals $7,864,165. Projects include $3,500,000 for new de-
velopments, with the remaining balance going towards street light im-
provements and fiber optic installations.
The water CIP totals $32,683,670. Projects include the rehabilitation of San
Gabriel Wastewater Treatment Plant equipment, continuation of repairs in
the Edwards Aquifer Recharge Zone, and upgrading lift stations.
51.2 54.8
47.8
38 38.8 44.3
8.9 6.2 7.4
2 0.2 0.5
0
10
20
30
40
50
60
City Water Services City Sewer Services City Electric ServicesPercentCitizen Survey: Uility Services
Excellent Good Fair Poor
Georgetown Citizen Survey
The most recent citizen survey found that Georgetown residents view Utility Services
as either good or excellent.
94% of respondents rated sewer services as good or excellent
92% of respondents rated electric services as good or excellent
90% rated water services as good or excellent
Full details of the FY2019 Budget
are available at
www.georgetown.org.