HomeMy WebLinkAbout1st Qtr_ ENTIRE REPORT
FINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended December 31, 2018
Table of Contents
Executive Summary .................................................................................................................................... 1-6
General Fund Schedule ................................................................................................................................. 7
Electric Fund Schedule .................................................................................................................................. 8
Preliminary Electric Fund Schedule ............................................................................................................... 9
Water Services Fund Schedule .................................................................................................................... 10
Joint Services Fund Schedule ....................................................................................................................... 11
Council Discretionary Fund Schedule .......................................................................................................... 12
Convention & Visitors Bureau Fund Schedule ............................................................................................. 13
Airport Fund Schedule ................................................................................................................................. 14
Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 15
Georgetown Economic Development Corporation Fund Schedule ............................................................. 16
Quarterly Investment Report - City ........................................................................................................ 17-40
Quarterly Investment Report - GTEC ...................................................................................................... 41-46
Quarterly Investment Report - GEDCO ................................................................................................... 47-52
Grant Applications ....................................................................................................................................... 53
Capital Improvement Projects ................................................................................................................ 54-56
Long-term Commitments and Other Unfunded Liabilities ..................................................................... 57-59
F FY2019 Quarterly Report
EXECUTIVE SUMMARY FOR THE QUARTER ENDED DECEMBER 31, 2018
I. QUARTERLY FINANCIAL ANALYSIS
Each year, the City amends the budget for multi‐year capital projects, as well as operational changes that were
unknown at the time the budget was adopted. The first reading of the “Roll Forward” amendment occurred in
December, with second reading adoption occurring in January. Therefore, this 1st quarter report does not reflect the
budget amendment that affected many major funds. It will be reflected in the 2nd quarter report.
In the fall of 2018, the City implemented a new utility billing software. The new system has a different billing cycle for
large consolidated account customers (hospitals, schools, and City facilities). The different billing schedule skews the
comparisons for the first quarter of FY2018 to FY2019 in ROI and Franchise Fees in the General Fund. Currently, staff
is working with the implementation vendor to shorten the timeframe between when these large consolidated accounts
are billed and when collection occurs. It is anticipated the City will receive all budgeted revenue in these affected
accounts by the end of the fiscal year.
GENERAL FUND REVENUES:
General Fund revenues total $16.9 million, or 24.2% of
budget. Year to date, revenues exceed last year’s first
quarter revenue by 3.05%.
The sales tax revenue through December totals $1.47
million, or 9.3% of budget. At this early stage, all four
year‐end regression models have the City finishing at or
above budget in sales tax revenue.
The City continues to see growth in our core sectors of
retail, food, and information. Sales tax revenue has been
bolstered by one‐time‐in‐nature collections in October
and November. Additionally in previous fiscal years, the
general fund transferred sales tax dollars to the Wolf
Ranch PID. This transfer is no longer occurring and thus
those dollars are staying in the fund.
The combination of growth in the core sectors, one time in nature collections, and the elimination of the transfer out
result in an increase of 35.0% when compared to the first quarter of FY2018.
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. Property tax revenue for the first quarter of FY2019 is up 8.9%, or
$624,580 from the first quarter of FY2018. Through the first quarter of FY2019, collections total 55.2% of budget.
After the first quarter in FY2018, property tax collections totaled 52.4% of budget.
The City collects franchise fees for electric, natural gas, cable, and non‐cellular telephone services. Through the first
quarter, franchise fee revenues total $785,676 in FY2019, a decrease of 29.3% from the first quarter of FY2018.
The decrease is due to the protracted billing cycle of the electric, water, and wastewater franchise fees. Franchise
fees for cable TV and telephone services are 1% higher in FY2019 than the first quarter of FY2018. Franchise fees
collections occur on a quarterly basis. The new billing cycle also skews the comparison of Return on Investment. ROI
is only 11.8% of budget.
$600,000
$700,000
$800,000
$900,000
$1,000,000
$1,100,000
$1,200,000
$1,300,000
$1,400,000
$1,500,000
OctNovDecJanFebMarAprMayJunJulAugSepSales Tax
2015 2016 2017 2018 2019
1
F FY2019 Quarterly Report
Sanitation revenue through the first quarter totals $2.27 million or 24.1% of budget. Compared to the first quarter
of FY2018, sanitation revenue is up 8.1%.
Development related revenue continues to be strong. In
the first quarter, development related revenue totals
$667,911, or 20.2% of budget through the first quarter.
As shown in the graph to the right, permits tend to
increase in the spring and summer months. The City
continues to witness growth in building permits and when
compared to the first quarter of FY2018, development
related revenue is up 19.3%.
EMS Revenue through the first quarter totals $799,687,
or 28.8% of budget. Previously, EMS was budgeted in a
separate fund. As part of the FY2019 Budget, the
department moved into the General Fund.
Parks and Recreation revenue totals $402,777 through
the first quarter. This represents an increase of 6.8% from
the first quarter of FY2018. Year to date, Parks and Rec revenues are at only 16.4% of budget. However, Parks and
Rec revenues historically skew more heavily to the spring and summer months. Garey Park revenue totals $59,173,
or 11.83% of budget. It is anticipated Garey Park revenue to increase in the spring and summer months.
Overall, the City’s two largest revenue streams, property tax and sales tax, are projecting at or above budget. Other
revenue streams like EMS, Parks and Rec fees, and development related revenues and fees continue to grow with
population and new development. The utility related fees and revenues through the first quarter are down due to
the longer billing cycles. However, staff is working to shorten the billing cycle for future periods.
GENERAL FUND EXPENDITURES:
Overall expenditures through the first quarter total $17.8 million, or 25.7% of budget. Total salaries and benefit
expenditures through the first quarter total $10.4 million. Operational costs total $6.9 million. The table below
excludes capital accounts (like street repair or transfers out for fleet purchases) and is used to compare the personnel
and operations costs year to year.
Generally, year over year increases are reflective of growth in new programs, and personnel costs for new salaries
and benefits as well as merit and market adjustments.
Personnel and Operations Summary (excludes capital accounts)
Administration Services Division (Administrative Services, City Council, City Secretary, and Social Service Funding)
expenditures for the first quarter total $677,389, which represents 26.0% of budget.
Year‐to‐date expenditures for the Community Services (Parks and Rec., Library, and Communications) and Finance
Division (Municipal Court) total $3.1 million or 24.8% of budget.
COMBINDED EXPENSES FY2019 Budget
FY2019 YTD
Actuals
% of FY2019
Budget FY2018 Budget
FY2018 YTD
Actuals
% of
FY2018
Budget YTD Variance % Variance
Personnel Expense 38,897,201 10,444,895 26.9% 36,675,585 9,885,914 27.0% 558,981 5.7%
Operations Expense 28,227,526 6,938,459 24.6% 26,653,247 6,590,464 24.7% 347,995 5.3%
TOTAL 67,124,727 17,383,355 25.9% 63,328,832 16,476,379 26.0% 906,976 5.5%
‐
20
40
60
80
100
120
140
160
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Building Permits
2015 2016 2017 2018 2019
2
F FY2019 Quarterly Report
The Georgetown Utility System Division (Environmental Services, Inspections, Public Works, and Streets)
expenditures through the first quarter total $2.2 million or 18.2% of budget.
Year‐to‐date expenditures for Public Safety total $9.3 million, which represents 27.5% of budget. EMS merged into
the General Fund in FY2019, resulting in a large increase compared to prior quarter.
The City has experienced 7 of 26 pay periods through the first quarter, or 26.9% of total cycles.
Overall, General Fund expenditures are within budget and the fund can cover the 90‐day Contingency Reserve and
the Economic Stability Reserve.
UTILITY FUNDS:
The change in length of cycle billing for large customers resulted in a revenue accrual for the First Quarter for both
the Water and Electric Funds. Electric sales revenue through the first quarter of FY2019 totals $16.1 million, or 22.8%
of budget. Electric revenue sales are typically higher in the summer months when consumption increases. Purchased
Power expenses total $10.4 million, or 21.7% of budget. Through the first quarter of Fy2018, purchase power costs
totaled $11.4 M.
The electric fund was amended in FY2019. The first reading of the amendment occurred on December 11, 2018, with
the second reading occurring on January 8, 2019. This quarterly report presents financial data as of the end of the
first quarter – December 31, 2018. Due to the conditions in the electric fund and recent changes, staff has included
an additional fund schedule called “Preliminary January” that shows the amended budget and updated year‐end
projections. The amendment included continuing the existing Power Cost Adjustment, reducing operating
expenditures, and reducing capital expenditures. The updated projections include increasing the PCA effective in
February 2019, and updates to Purchased Power forecasts.
FY2019 Budget FY2019 Actuals
% of FY2019
Budget FY2018 Budget FY2018 Actuals
% of
FY2018
Budget YTD Variance % Variance
Expenditure
Administrative Services
Personnel Expense 1,941,881 521,159 26.8% 1,900,756 478,764 25.2% 42,395 8.9%
Operations Expense 663,827 156,230 23.5% 712,883 171,472 24.1% (15,242) ‐8.9%
Administrative Services Total 2,605,708 677,389 26.0% 2,613,639 650,236 24.9% 27,153 4.2%
Community Services and Finance
Personnel Expense 7,156,124 1,743,832 24.4% 6,730,047 1,623,809 24.1% 120,023 7.4%
Operations Expense 5,228,877 1,332,366 25.5% 4,910,503 1,265,682 25.8% 66,683 5.3%
Community Services and Finance Total 12,385,001 3,076,197 24.8% 11,640,550 2,889,491 24.8% 186,706 6.5%
Development & Planning
Personnel Expense 2,308,625 540,749 23.4% 2,164,868 500,429 23.1% 40,320 8.1%
Operations Expense 714,668 68,841 9.6% 731,484 95,989 13.1% (27,148) ‐28.3%
Development & Planning Total 3,023,293 609,590 20.2% 2,896,352 596,418 20.6% 13,172 2.2%
Fire Services*
Personnel Expense 14,257,192 3,762,527 26.4% 12,686,454 3,493,230 27.5% 269,297 7.7%
Operations Expense 3,572,410 1,245,451 34.9% 3,430,316 928,948 27.1% 316,503 34.1%
Fire Services Total 17,829,601 5,007,978 28.1% 16,116,770 4,422,178 27.4% 585,800 13.2%
GUS
Personnel Expense 1,875,598 472,736 25.2% 1,860,648 435,743 23.4% 36,993 8.5%
Operations Expense 9,983,943 1,682,582 16.9% 9,414,929 1,702,323 18.1% (19,742) ‐1.2%
GUS Total 11,859,541 2,155,317 18.2% 11,275,577 2,138,066 19.0% 17,251 0.8%
Police Services
Personnel Expense 12,502,781 3,403,893 27.2% 12,082,813 3,353,940 27.8% 3,403,893 1.5%
Operations Expense 3,632,400 928,419 25.6% 3,449,346 1,023,045 29.7% (94,626) ‐9.2%
Police Services Total 16,135,181 4,332,312 26.9% 15,532,159 4,376,985 28.2% (44,672) ‐1.0%
*Fire Services Dicvision includes EMS Fund.
3
F FY2019 Quarterly Report
Overall water revenue totals $13.2 million, or 22.1% of budget. Water, wastewater, and irrigation sales revenue
through the first quarter totals $9.0 million, or 21.2% of budget. Capital Recovery Fees total $2.5 million. Water
expenses total $10.2 million. Non‐operational expenses total $11.7 million. These non‐operational expenses are
capital improvement projects that normally span multiple years. A summary report of all CIP projects is attach in this
report.
OTHER MAJOR FUNDS:
Convention & Visitors Bureau Fund: Hotel Occupancy Tax revenue totals $222,320 for the first quarter of FY2019, or
16.5% of budget. HOT revenue is typically higher in the spring and summer months. Year to date expenses in the
Convention & Visitors Bureau Fund total $333,694, or 25.8% of budget. The fund is budgeted to finish FY2019 with a
fund balance of $1.4 million and able to cover the 90 day operational reserve.
Airport Fund: Airport revenue totals $877,847, which represents 23% of budget. The current vacancy of the Airport
Manager is creating salary savings in the fund. Expenses in the Airport fund total $2.46 million, or 69.4% of budget.
Over $2.2 million of the year to date expenses is fuel related encumbrances. Overall, both revenues and expenses
are tracking well relative to budget and the fund is budgeted to end FY2019 with $1.04 million in fund balance and
meet all of its debt service and contingency requirements.
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 (GAAP). Activity for the first quarter of
fiscal year 2019 includes the maturing of financial institution deposits (CDs), reinvestment of CD’s, & investing of
bond proceeds in CD’s and Treasury Bills. 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 December 2018. The
City will continue soliciting for the best rates to improve both diversity and yield, while keeping in mind safety and
liquidity.
The Investment Reports for the quarter ended December 31, 2018, and the supporting schedules are attached.
Valley View Consulting, L.L.C., prepares 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 December 31, 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).
CITY GTEC GEDCO
9/30/18 12/31/18 9/30/18 12/31/18 9/30/18 12/31/18
Total cash and investments
$180,045,674 $177,790,533 $18,517,065 $18,526,812 $6,942,552 $7,236,643
Average Yield 2.07% 2.25%1.98% 2.19% 2.04% 2.33%
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 due to the increase in contingency reserves, interest rate
increases, and debt proceeds issued for future capital improvement projects. The City’s investment portfolio includes
4
F FY2019 Quarterly Report
bank deposits, local government investment pool balances, money market accounts, financial institution deposits
(CD’s), and Treasury Bills. 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.
The City has worked closely with the City’s depository bank (JPMorgan Chase) 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. During this fiscal year, the City has made $35,985.78 in excess of the fees.
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. Phase two includes entry monuments, roadway and parking improvements, four medium
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.
COMMUNITY SERVICES
The Sidewalk Master Plan 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.
Old Town North East Sidewalks: Staff is finalizing the design and have TCEQ WPAP approval. One easement has
been signed and staff is working to finalize the remaining six. Staff will begin to advertise and bid as soon as the
remaining easements are obtained.
Austin Ave Sidewalks (Hwy. 29 to Leander Rd): Staff began advertising this project on October 14th and opened
bids on October 30th 2018. The contract was awarded to Patin Construction. Construction will begin in February
2019.
City Center: 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/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
5
F FY2019 Quarterly Report
is funded by proceeds from the sale of City buildings, municipal bonds, and fee revenues. City Staff moved into the
new City Hall on January 23, 2019. The Council and Court building is scheduled for completion in early March.
ELECTRIC
New development continues to exceed expectations in the first quarter with additional residential, multifamily, and
business projects in progress. Projects under construction include Holt Caterpillar, Carroll at Rivery Ranch,
Mansions II, and the Woodsprings Hotel. Downtown West has been completed and engineering has started on Sun
City NH 72, Sun City Silver Spur, Hillwood Phase 3 and Hillwood Phase 4.
WATER
The 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 started in January 28, 2019 and is
scheduled for completion in January 2020.
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 February 2020.
6
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 10,463,385 10,463,385
Revenue
Administrative Charges 2,428,000 202,333 607,000 2,428,000
All Other Revenue 4,730,620 950,857 1,106,554 4,730,620
Development and Permit Fees 3,307,000 195,197 667,911 3,307,000
Franchise Fees 5,434,000 378,264 785,676 5,434,000
Garey Park 500,000 15,557 59,173 500,000
Parks and Rec Fees 2,460,100 123,902 402,777 2,460,100
Property Tax 13,850,000 7,240,456 7,643,725 13,850,000
ROI 9,002,490 1,060,315 1,060,315 9,002,490
Sales Tax 15,924,475 1,372,935 1,474,785 15,924,475
Sanitation Revenue 9,448,500 1,496,219 2,272,728 9,448,500
EMS Revenue 2,780,896 799,687 799,687 2,780,896
Transfer In 296,782 90,533 90,533 296,782
Revenue Total 70,162,863 13,926,255 16,970,864 70,162,863
Expense
Administrative Services 1,552,033 122,470 440,573 1,552,033
Animal Services 926,122 68,550 257,795 926,122
Arts & Culture 37,545 2,254 7,723 37,545
City Council 171,395 12,546 46,483 171,395
City Secretary 882,280 51,732 190,332 882,280
Code Enforcement 432,800 31,125 103,665 432,800
Communications 425,160 33,006 109,346 425,160
Environmental Services 7,902,414 690,589 1,064,463 7,902,414
Fire Emergency Services 12,303,967 1,030,695 3,312,869 12,303,967
Fire Support Services 2,931,938 229,779 742,681 2,931,938
Fire EMS 2,593,697 290,358 952,978 2,593,697
Garey Park 948,290 54,016 248,354 948,290
General Gov't Contracts 3,286,401 305,814 1,524,571 3,286,401
Inspections 1,260,145 95,377 313,833 1,260,145
Municipal Court 635,935 54,231 172,056 635,935
Library 2,696,579 214,750 715,083 2,696,579
Parks 2,774,674 225,211 750,665 2,774,674
Parks Admin 610,051 50,199 160,867 610,051
Planning 1,763,148 96,194 295,757 1,763,148
Police Admin 2,330,161 194,289 631,668 2,330,161
Police Operations 12,450,598 1,095,276 3,339,185 12,450,598
Public Works 1,254,586 (434) 145,373 1,254,586
Rec Programs 1,358,009 56,135 224,158 1,358,009
Recreation 2,625,888 198,761 660,763 2,625,888
Streets 4,438,211 244,184 1,037,810 4,438,211
Tennis Center 458,162 31,758 88,334 458,162
Transfer Out 346,000 346,000 346,000 346,000
Expense Total 69,396,190 5,824,864 17,883,384 69,396,190
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 766,674 8,101,390 (912,521)766,674
AVAILABLE FUND BALANCE 11,230,059 11,230,059
Year-End Projection to Approved: Dec FY2019
General Fund
7
FY2019 Budget CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 8,814,823$ 8,814,823$
Operating Revenue
Electric Revenue 70,630,166 10,430,766 16,109,003 73,100,000
Interest 38,000 8,574 27,651 38,000
Other Revenue 5,243,546 615,583 974,744 5,243,546
Transfer In 95,787 95,787 95,787 95,787
Operating Revenue Total 76,007,499 11,150,711 17,207,186 78,477,333
Operating Expenditures
CRR Credits (3,500,000) (462,160) (908,122) (3,500,000)
Georgetown Utility Systems 19,242,016 1,694,612 5,103,718 19,053,983
Purchased Power 48,000,000 4,196,673 10,412,499 48,000,000
Transfer Out-Interfund Transfers 451,500 - - -
Transfer Out-ROI 5,550,000 798,305 798,305 4,325,000
Operating Expenditures Total 69,743,516 6,227,430 15,406,400 67,878,983
Total Net Operations 6,263,983 4,923,281 1,800,786 10,598,350
Non-Operating Revenue
Bond Proceeds 7,864,165 - - -
Non-Operating Revenue Total 7,864,165 - - -
Non-Operating Expenditures
CIP 7,864,165 248,405 1,347,558 4,200,000
Interest Expense 1,386,781 - - 1,386,781
Debt Issuance Cost 156,840 - - -
Debt Service 3,032,874 - - 3,035,374
Non-Operating Expenditures Total 12,440,660 248,405 1,347,558 8,622,155
Total Net Non-Operations (4,576,495) (248,405) (1,347,558) (8,622,155)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 1,687,488 4,674,876 453,228 1,976,195
ENDING FUND BALANCE 10,502,311$ 10,791,018$
90 Day Operational Contingency 4,082,999 4,082,999
Non-Operational Contingency 6,419,311 6,708,018
AVAILABLE FUND BALANCE --
Year-End Projection to Approved: Dec FY2019
Electric Fund
8
FY2019 AMENDED
BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 1,970,691$ 1,970,691$
Operating Revenue
Electric Revenue 73,100,000 2,646,375 18,755,378 79,100,000
Interest 38,000 7,434 30,774 38,000
Other Revenue 5,243,546 225,514 1,204,562 5,243,546
Transfer In 95,787 - 95,787 95,787
Operating Revenue Total 78,477,333 2,879,323 20,086,501 84,477,333
Operating Expenditures
CRR Credits (3,500,000) (195,845) (1,103,967) (3,500,000)
Georgetown Utility Systems 18,882,979 1,359,210 6,580,594 18,882,979
Purchased Power 48,000,000 2,913,703 13,188,890 53,000,000
Transfer Out-Interfund Transfers - - - -
Transfer Out-ROI 4,325,000 - 798,305 4,325,000
Operating Expenditures Total 67,707,979 4,077,068 19,463,822 72,707,979
Total Net Operations 10,769,354 (1,197,745) 622,679 11,769,354
Non-Operating Revenue
Bond Proceeds - - - -
Grant Revenue 100,000 - - 100,000
Non-Operating Revenue Total 100,000 - - 100,000
Non-Operating Expenditures
CIP 4,187,812 215,184 1,503,691 4,187,812
Interest Expense 1,386,781 - - 1,386,781
Debt Issuance Cost - - - -
Debt Service 3,035,374 - - 3,035,374
Non-Operating Expenditures Total 8,609,967 215,184 1,503,691 8,609,967
Total Net Non-Operations (8,509,967) (215,184) (1,503,691) (8,509,967)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 2,259,387 (1,412,929) (881,012) 3,259,387
ENDING FUND BALANCE 4,230,078$ 5,230,078$
90 Day Operational Contingency 4,082,999 4,082,999
Non-Operational Contingency 147,079 1,147,079
AVAILABLE FUND BALANCE - -
The Amended Budget column includes updates to beginning balance, increased revenue from continuing the current Power Cost Adjustment,
reduced operating expenditures, reduced bond proceeds and reduced capital expenditures.
The Year-End Projections column includes increasing the PCA from February through September of 2019 and adjusting the Purchased Power forecast.
Year-End Projection to Approved: Jan FY2019
PRELIMINARY
Electric Fund
9
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB) YEAR-END PROJECTION
BEGINNING FUND BALANCE 27,669,833 27,669,833
Operating Revenue
Capital Recovery Fee 14,250,000 1,021,173 2,507,186 14,250,000
Interest 569,400 285,856 478,806 569,400
Irrigation Utility Revenue 301,557 8,513 40,698 301,557
Other Revenue 2,262,146 282,925 1,200,707 2,262,146
Raw Water Revenue 140,000 10,365 32,384 140,000
Transfer In, Debt 103,725 - - 103,725
Wastewater Utility Revenue 12,975,345 2,148,970 4,065,072 12,975,345
Water Utility Revenue 29,116,931 3,600,159 4,889,071 29,116,931
Operating Revenue Total 59,719,104 7,357,961 13,213,925 59,719,104
Operating Expenditures
Irrigation 270,324 8,606 39,504 270,324
Transfer Out, Fleet/Joint Service/IT 245,000 245,000 245,000 245,000
Transfer Out, General 275,000 68,750 68,750 275,000
Transfer Out, ROI 3,200,000 239,648 239,648 3,200,000
Transfer Out, Utilities 95,787 95,787 95,787 95,787
Wastewater Distribution 904,415 25,067 286,608 904,415
Wastewater Plant Management 2,705,069 182,184 1,275,598 2,705,069
Water Administration 19,923,733 1,815,099 5,456,468 19,923,733
Water Distribution 2,707,265 143,382 528,020 2,707,265
Water Operations 4,157,528 322,912 1,050,491 4,157,528
Water Plant Management 2,948,733 111,903 873,140 2,948,733
Operating Expenditures Total 37,432,854 3,258,338 10,159,014 37,432,854
Total Net Operations 22,286,250 4,099,623 3,054,912 22,286,250
Non-Operating Revenue
Bond Proceeds 6,050,000 - - 6,050,000
Non-Operating Revenue Total 6,050,000 - - 6,050,000
Non-Operating Expenditures
CIP 90 32,533,670 1,164,867 11,656,027 32,533,670
CIP 91 - 6,510 39,584 -
Debt Service 6,355,111 - - 6,355,111
Non-Operating Expenditures Total 38,888,781 1,171,377 11,695,611 38,888,781
Total Net Non-Operations (32,838,781) (1,171,377) (11,695,611) (32,838,781)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (10,552,531) 2,928,245 (8,640,699) (10,552,531)
ENDING FUND BALANCE 17,117,302 17,117,302
Contingency 6,000,000 6,000,000
AVAILABLE FUND BALANCE 11,117,302 11,117,302
Year-End Projection to Approved: Dec FY2019
Water Fund
10
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 842,416 842,416
Revenue
Gedco Admin/Contract Fee 238,622 19,885 59,656 238,622
Gtec Admin/Contract Fee 172,318 14,360 43,080 172,318
Interest 17,503 5,263 6,404 17,503
Other 136,153 26,981 63,202 136,153
Service Fees - Airport 128,966 10,747 32,241 128,966
Service Fees - Conservation - - - -
Service Fees - Electric 4,615,524 384,627 1,153,881 4,615,524
Service Fees - General 3,573,156 297,763 893,289 3,573,156
Service Fees - Rural Water - - - -
Service Fees - Stormwater 1,020,427 85,036 255,107 1,020,427
Service Fees - Wastewater - - - -
Service Fees - Water 7,966,284 663,857 1,991,571 7,966,284
Transfer In - - - -
Transfers In - - - -
VPID Admin/Contract Fee 15,924 1,327 3,981 15,924
Revenue Total 17,884,877 1,509,845 4,502,411 17,884,877
Expense
Accounting 1,042,433 65,790 255,908 1,042,433
BIP 250,085 7,947 26,097 250,085
City Wide Hr 415,500 22,465 88,888 415,500
Conservation 766,699 28,258 115,691 766,699
Customer Care 4,701,266 343,238 975,737 4,701,266
Economic Development 635,768 38,926 143,420 635,768
Engineering 2,402,052 184,203 500,136 2,402,052
Engineering Support 1,147,160 103,150 355,246 1,147,160
Finance Administration 1,072,583 67,464 402,379 1,072,583
Gus Administration 1,476,541 119,784 340,663 1,476,541
Human Resources 978,190 68,707 243,604 978,190
In-House Legal 1,038,782 77,211 211,700 1,038,782
Insurance & Legal 752,000 33,125 528,601 752,000
Joint Svcs Con 598,775 64,539 198,535 598,775
Purchasing 764,459 50,813 172,844 764,459
Transfer Out 85,000 57,000 57,000 85,000
Expense Total 18,127,293 1,332,619 4,616,449 18,127,293
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER
TOTAL REQUIREMENTS (242,416)177,226 (114,038)(242,416)
AVAILABLE FUND BALANCE 600,000 (114,038) 600,000
Joint Services Fund
Year-End Projection to Approved: Dec FY2019
11
APRROVED
BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 1,233,388 - 1,233,388
Revenue
Interest 10,000 475 567 10,000
Transfer In, General Fund - - - -
Revenue Total 10,000 475 567 10,000
Expense
Transfer Out, GCP - - - -
Transfer Out, General Fund - - - -
Transfer Out, Joint Services - - - -
Expense Total - - - -
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 10,000 475 567 10,000
ENDING FUND BALANCE 1,243,388 1,243,388
Year-End Projection to Approved: Dec FY2019
Council Discretionary Fund
12
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 1,192,734 1,192,734
Revenue
Hotel/Motel Occupancy Tax Revenues 1,350,000 54,240 222,320 1,350,000
Interest 5,000 4,276 5,144 5,000
Other 23,500 1,500 4,150 23,500
Poppy Festival 136,150 16,918 17,637 136,150
Revenue Total 1,514,650 76,934 249,251 1,514,650
Expense
Operations 653,831 18,856 188,445 653,831
Personnel 369,492 33,674 97,697 369,492
Poppy Festival 165,200 (232) 5,200 165,200
Transfer to Facilities 49,507 4,126 12,377 49,507
Transfer to Fleet 5,048 421 1,262 5,048
Transfer to General Fund 21,783 21,783 21,783 21,783
Transfer to Information Technology 27,722 2,310 6,931 27,722
Expense Total 1,292,583 80,937 333,694 1,292,583
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 222,067 (4,003) (84,443) 222,067
ENDING FUND BALANCE 1,414,801 1,414,801
Contingency 187,147 187,147
Reserved for Capital 687,474 687,474
AVAILABLE FUND BALANCE 540,179 540,179
Year-End Projection to Approved: Dec FY2019
Convention & Visitors Bureau Fund
13
APPROVED
BUDGET CURRENT PERIOD
YEAR YO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 462,181 462,181 462,181
Operating Revenue
Fuel and Terminal Sales 2,907,450 207,794 652,899 2,907,450
Interest and Other 80,260 3,487 10,560 80,260
Leases and Rentals 863,952 71,716 214,388 863,952
Operating Revenue Total 3,851,662 282,997 877,847 3,851,662
Operating Expenditures
Debt Service
Operations-Fuel 2,400,000 129,931 2,235,620 2,400,000
Operations-Non Fuel 667,471 48,445 153,412 667,471
Personnel 417,348 23,980 75,857 417,348
Operating Expenditures Total 3,550,069 202,356 2,464,889 3,550,069
TOTAL NET OPERATIONS 301,593 80,641 (1,587,042) 301,593
Non-Operating Revenue
Bond Proceeds 500,000 - - 500,000
Grants 40,000 - - 40,000
Non-Operating Revenue Total 540,000 - - 540,000
Non-Operating Expenditures
Debt Service 142,145 - - 142,145
Hangar Upgrades 75,000 - 10,139 75,000
Pavement Upgrades 15,000 - (19,054) 15,000
Wildfire Management 35,000 - 2,250 35,000
Non-Operating Expenditure Total 267,145 - (6,665) 267,145
TOTAL NET NON-OPERATIONS 272,855 - 6,665 272,855
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS 574,448 80,641 (1,580,377) 574,448
ENDING FUND BALANCE 1,036,629 (1,118,196) 1,036,629
Airport Operations Fund
For the Month Ended: Dec FY2019
14
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB) YEAR‐END PROJECTION
BEGINNING FUND BALANCE 14,921,796 14,921,796
Operating Revenue
Sales Tax 7,073,100 19,326 64,590 7,073,100
Interest 190,000 1,934 77,547 190,000
Operating Revenue Total 7,263,100 21,260 142,137 7,263,100
Operating Expenditure ‐
Administrative Support 391,697 32,575 97,846 391,697
Operating Expenditure Total 391,697 32,575 97,846 391,697
TOTAL NET OPERATIONS 6,871,403 (11,315) 44,291 6,871,403
Non‐Operating Revenue
Debt Proceeds 7,200,000 ‐ ‐ 7,200,000
Non‐Operating Revenue Total 7,200,000 ‐ ‐ 7,200,000
Non‐Operating Expenditure
Pecan Center Dr to Airport Rd (FY15)‐ 13,449 (334) ‐
Arterial SE1:Inner Loop/SH130 7,200,000 ‐ ‐ 7,200,000
Rivery TIA Improvements ‐ 1,040 (11,986) ‐
SE Inner Loop Widening ‐ 948,251 948,251 ‐
Rivery‐Extension Williams Dr to NW Blvd (FY16)‐ 5,900 2,211 ‐
FM1460 Widening ‐ 945 60 ‐
Mays St 3,500,000 ‐ ‐ 3,500,000
Available for Projects TBD 1,768,275 ‐ ‐ 1,768,275
Debt Service 3,438,747 ‐ ‐ 3,438,747
Non‐Operating Expenditure Total 15,907,022 969,586 938,202 15,907,022
TOTAL NET NON‐OPERATIONS (8,707,022) (969,586) (938,202) (8,707,022)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (1,835,619) (980,900) (893,912) (1,835,619)
ENDING FUND BALANCE 13,086,177 13,086,177
RESERVES
Contingency 1,768,275 1,768,275
Reserves Total 1,768,275 1,768,275
AVAILABLE FUND BALANCE 11,317,902 11,317,902
Georgetown Transportation Enhancement Corporation Fund
Year‐End Projection to Approved: Dec FY2019
15
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 6,853,073 6,853,073 6,853,073
OPERATING REVENUES
Interest 40,300 14,264 40,525 40,300
Sales Tax 1,768,275 152,548 163,865 1,768,275
OPERATING REVENUES Total 1,808,575 166,812 204,390 1,808,575
OPERATING EXPENDITURES
Joint Services Allocation 238,622 19,885 59,656 238,622
Miscellaneous Expense 50 - - 50
Promotional & Marketing Program 100,000 23,500 36,855 100,000
Special Services 30,000 - - 30,000
Travel & Training 500 - - 500
OPERATING EXPENDITURES Total 369,172 43,385 96,511 369,172
TOTAL NET OPERATIONS 1,439,403 123,427 107,879 1,439,403
NON-OPERATING EXPENDITURES
Principal Reduction 80,568 - - 80,568
Debt Service 205,069 - - 205,069
Interest Expense 23,157 - - 23,157
DisperSol 50,000 - - 50,000
Economic Development Projects -Undetermined 7,146,613 - - 7,146,613
Holt Cat 185,000 - - 185,000
Radiation Detection Company 150,000 - - 150,000
NON-OPERATING EXPENDITURES Total 7,840,407 - - 7,840,407
TOTAL NET NON-OPERATIONS (7,840,407) - - (7,840,407)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (6,401,004) 123,427 107,879 (6,401,004)
ENDING FUND BALANCE 452,069 6,960,952 452,069
RESERVES
Contingency 442,069 442,069 442,069
RESERVES Total 442,069 - 442,069 442,069
AVAILABLE FUND BALANCE 10,000 6,518,883 10,000
Georgetown Economic Development Corporation Fund
Preliminary Actuals to Year-End Projection: Dec FY2019
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
44
45
46
47
48
49
50
51
52
Department Federal Grantor Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized
Airport N/A Texas Department of
Transportation-Aviation
M1914GEOR RAMP Grant - Routine Airport
Maintenance Program
- -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
16MPGRGTN Airport Master Plan Update - -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
1814GRGTN Runway 18/36 Rehabilitation-
Engineering
- -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
1814GEORG Runway 18/36 Rehabilitation-
Construction
- -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
17WAGEORG Wildlife Hazard Assessment - -
Fire US Department of Homeland
Security
Federal Emergency
Management Agency
EMW-2017-FH-00496 SAFER - -
Fire Federal Emergency
Management Agency
Texas Department of Public
Safety - TDEM
TEEX Tracy Ryan Deployment
Urban Search and Rescue
(US&R)
9,390.50 -
Gus - Electric N/A Bloomberg Philanthropies 2017 Mayors Challenge 2,100.00 -
Library Institute of Museum & Library
Services
Texas State Library & Archives
Commission
LS-00-18-0044-18 TSL Resource Coordinator -
3rd year (Patrick Lloyd)
19,006.59 19,006.59
Planning US Department of Housing &
Urban Development
Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps
along 17th St
- -
Police Bureau of Justice Assistance N/A KXPIIIA Bullet Proof Vests - Supply
Police with new vests
- -
Public Works Dept. of Transportation
/Federal Highway
Administration
Texas Department of
Transportation
CSJ-0914-05-187 Highway Planning &
Construction (Austin Ave
Bridge)
39,891.02 -
Division Grantor Status
Gus - Electric Department of Energy (DOE)Battery Storage Project Under DOE Review
Parks Texas Parks and Wildlife
Department (TPWD)
Recreation San Gabriel Trails THC & TxDOT Review
Fire Texas Division Emergency
Management - Public Safety
EMPG Salaries (Mejia, Shell
and Gilliam)
Under Internal Review
Reviewed By:
Date: 1/24/2019
CITY OF GEORGETOWN
Grant/Federal Funding Report
as of December 31 2018
COG Name/Purpose
Active
Applications Pending Award
53
CIP Quarterly Report - Q1 FY2019 Budget
Year-todate
(W/Encum)Remaining Balance
CDBG GRANTS
215-9-0880-90-003 17TH STREET 206,824 - 206,824
215-9-0880-90-004 MAPLE STREET 80,784 - 80,784
DOWNTOWN TIRZ
293-9-0602-90-002 PARKING IMPROVEMENTS 100,000 17,199 82,801
293-9-0602-90-003 DTWN LANDSPING & PUBLC ART 30,000 4,635 25,365
ELECTRIC SERVICES
610-9-0580-90-010 TRANSFORMER ADDITION GLASSCOCK 250,000 - 250,000
610-9-0580-90-133 GT RIVER CROSSING 125,000 - 125,000
610-9-0580-90-134 HWY 195 80,000 903 79,097
610-9-0580-90-135 I35 FEEDER 100,000 - 100,000
610-9-0580-90-136 NORTHWEST BLVD BRIDGE 100,000 - 100,000
610-9-0580-90-137 RONALD REAGAN 220,000 303 219,697
610-9-0580-90-141 DOWNTOWN OH REHAB 200,000 - 200,000
610-9-0580-90-142 DOWNTOWN WEST - 32,314 (32,314)
610-9-0580-90-143 SHELL ROAD FEEDERS 450,000 10,349 439,651
610-9-0580-90-144 SIDEWALK POLE RELOCATION 50,000 - 50,000
610-9-0580-90-146 SOUTHWEST BYPASS FEEDER 800,000 - 800,000
610-9-0580-90-255 DOWNTOWN URD CONVERSION 200,000 - 200,000
610-9-0580-90-256 GEO. EAST T2 VOLTAGE CHANGE - 5,350 (5,350)
610-9-0580-90-260 DB WOOD_SH29 INTERSECTION - 5,911 (5,911)
610-9-0580-90-261 FM 971 RELOCATION 200,000 - 200,000
610-9-0580-90-264 NORTHWEST BLVD WIDENING - 7,441 (7,441)
610-9-0580-90-265 RABBIT HILL ROAD WIDENING 200,000 - 200,000
610-9-0580-90-266 RIVERY EXTENSION - 1,214 (1,214)
610-9-0580-90-267 UNIVERSITY_MAYS WIDENING 154,000 - 154,000
610-9-0580-90-268 WILLIAMS DR_IH35 INTERSECTION 200,000 - 200,000
610-9-0580-90-310 POWER QUALITY IMPROVEMENTS 80,000 - 80,000
610-9-0580-90-320 SECTIONALIZATION IMPROVEMENTS 200,000 - 200,000
610-9-0580-90-340 RADIO REPLACEMENT 222,165 - 222,165
610-9-0580-90-410 NEW DEVELOPMENT PROJECTS 3,500,000 (145,463) 3,645,463
610-9-0580-90-430 STREET LIGHTING 88,000 226 87,774
610-9-0580-90-500 CONSULTANT ENGINEERING 150,000 11,022 138,978
610-9-0580-90-701 FIBER OPTIC 245,000 20,000 225,000
610-9-0580-90-702 FIBER TO SIGNAL LIGHTS 50,000 - 50,000
610-9-0580-91-105 CIS SYSTEM - 275,513 (275,513)
GATEWAY TIRZ
295-9-0602-90-001 CAPITAL IMPROVEMENTS 120,000 - 120,000
GENERAL CAPITAL PROJECTS
120-9-0280-90-031 NEIGHBORHOOD PARK DEVELOPMENT 250,000 - 250,000
120-9-0280-90-035 VFW PARK 175,000 - 175,000
120-9-0280-90-045 SAN GABRIEL PARK IMPROVEMENT - 511,217 (511,217)
120-9-0280-90-051 LIBRARY CANOPY - 29,950 (29,950)
120-9-0380-90-048 FIRE STATION, CONSTRUCTION 30,000 - 30,000
120-9-0380-90-080 DOWNTOWN PARKING GARAGE 5,000,000 - 5,000,000
120-9-0380-90-159 FIRE STATION 7 6,250,000 8,056 6,241,944
120-9-0380-90-168 TRANSFER STATION/LANDFILL 800,000 - 800,000
120-9-0380-90-169 ERP PROJECT - 420,697 (420,697)
120-9-0380-90-170 FACILITY EFFICIENCY STUDY - 2,904 (2,904)
120-9-0381-91-016 FIRE SCBA 290,000 - 290,000
120-9-0381-91-022 RADIO REPLACEMENT 500,000 - 500,000
54
CIP Quarterly Report - Q1 FY2019 Budget
Year-todate
(W/Encum)Remaining Balance
120-9-0680-90-012 DOWNTOWN WEST - 1,532,451 (1,532,451)
120-9-0680-90-014 DOWNTOWN PARKING EXPANSION 350,000 4,200 345,800
120-9-0880-90-038 LEANDER RD (NORWOOD- SWBYPASS)2,000,000 - 2,000,000
120-9-0880-90-041 BLUE HOLE PROJECTS 100,000 - 100,000
120-9-0880-90-050 NB FRONTAGE RD 150,000 - 150,000
120-9-0880-90-054 AUSTIN AVENUE BRIDGE - 18,603 (18,603)
120-9-0880-90-065 SOUTHWESTERN BLVD 1,550,000 - 1,550,000
120-9-0880-90-066 SHELL ROAD REALIGNMENT 180,000 - 180,000
120-9-0880-90-092 SOUTHEAST INNER LOOP 1,200,000 89 1,199,912
120-9-0880-90-105 NORTHWEST BLVD BRIDGE - 1,853,852 (1,853,852)
120-9-0880-90-107 ROCK ST-6TH TO 9TH ST 250,000 - 250,000
120-9-0880-90-108 RIVERY EXTENSION - 713,952 (713,952)
120-9-0880-91-008 OLD TOWN NORTHEAST - 4,777 (4,777)
GTEC
400-9-0980-90-025 ARTERIAL SE1:INNER LOOP/SH130 7,200,000 - 7,200,000
400-9-0980-90-036 ECO DEVO PROJECTS 1,768,275 - 1,768,275
400-9-0980-90-043 SE INNER LOOP WIDENING - 948,251 (948,251)
400-9-0980-90-044 FM 971/ FONTANA (NW BRIDGE)- 3,747 (3,747)
400-9-0980-90-060 MAYS STREET/ RABBIT HILL ROAD 3,500,000 - 3,500,000
400-9-0980-90-061 FM1460 WIDENING - 60 (60)
400-9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWEST - 10,511 (10,511)
400-9-0980-90-063 PECAN CENTER DR./ AIRPORT RD.- 557,121 (557,121)
400-9-0980-90-064 RIVERY TIA IMPROVEMENTS - 64,493 (64,493)
STORMWATER CAPITAL IMPROVEMENT
640-9-0880-90-005 CURB & GUTTER 500,000 930 499,070
640-9-0880-90-020 STORMWATER INFASTRUCTURE 200,000 18,124 181,876
640-9-0880-90-040 SPOILS FACILITY 100,000 - 100,000
640-9-0880-90-064 POND REHAB 450,000 21,205 428,795
640-9-0880-90-078 18TH AND HUTTO DRAINAGE 50,000 25,544 24,456
640-9-0880-90-079 2ND AND ROCK POND - 894 (894)
STREET TAX SRF
203-9-0880-90-071 STREET MAINTENANCE 3,172,750 101,641 3,071,109
WATER SERVICES
660-9-0580-90-071 TANK REHAB PROJECTS 480,000 (0) 480,000
660-9-0580-90-076 DB WOOD/ PASTOR 24 DEDICATED 3,100,000 9,600 3,090,400
660-9-0580-90-077 RABBIT HILL WATERLINE 1,050,000 - 1,050,000
660-9-0580-90-078 RONALD REAGAN/DANIELS MOUNTAIN 4,250,000 6,149,425 (1,899,425)
660-9-0580-90-079 ROCK SUPPLY LINE 1,100,000 - 1,100,000
660-9-0580-90-080 RADIO REPLACEMENT 153,670 - 153,670
660-9-0580-90-097 SUN CITY ELEVATED STORAGE TANK - 428,855 (428,855)
660-9-0580-90-165 SW BYPASS WATERLINE - 315,116 (315,116)
660-9-0580-90-168 LWTP RAW WATER INTAKE REHAB 13,450,000 - 13,450,000
660-9-0580-90-170 CR 255 (WD14-2)- 285,665 (285,665)
660-9-0580-90-171 DOMEL PS IMPROVEMENTS - 101,119 (101,119)
660-9-0580-90-175 BRAUN EST - 19,279 (19,279)
660-9-0580-90-176 MISC. LINE UPGRADES 250,000 - 250,000
660-9-0580-90-178 S. LAKE WTP 2018 5,000,000 1,397,896 3,602,104
660-9-0580-90-200 WATER MAINS - 691,980 (691,980)
660-9-0580-91-102 ASSET MANAGEMENT - 13,978 (13,978)
660-9-0580-91-105 CIS SYSTEM - 14,153 (14,153)
660-9-0581-90-051 PECAN BRANCH PH 2 - 320,615 (320,615)
660-9-0581-90-154 WESTINGHOUSE LS & FM - 35,904 (35,904)
55
CIP Quarterly Report - Q1 FY2019 Budget
Year-todate
(W/Encum)Remaining Balance
660-9-0581-90-160 BERRY CREEK INTER. (BC- 4-6)- 114,587 (114,587)
660-9-0581-90-162 BERRY CREEK INTER. (BCI-3)- 31,690 (31,690)
660-9-0581-90-163 SAN GABRIEL BELT PRESS - 16,940 (16,940)
660-9-0581-90-164 PARK LIFT STATION & FORCE MAIN - 11,400 (11,400)
660-9-0581-90-166 EARZ 2,000,000 46,241 1,953,759
660-9-0581-90-200 WW INTERCEPTORS - 1,534 (1,534)
660-9-0581-90-210 WWTP UPGRADE/EXP 1,150,000 - 1,150,000
660-9-0581-90-220 LIFT STATION UPGRADE 550,000 - 550,000
Grand Total 76,951,468 17,106,162 59,845,306
56
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 9/30/18 Status Updates - 12/31/18
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 construction bid of $121,432 was approved by City
Council on February 27th. The notice to proceed for construction of
the columbarium was completed in late July. Construction is
currently underway and is expected to be completed in December.
The columbarium project is complete. Finance and Parks staff
continue to evaluate cemetery related fees, costs, and options to
fund the perpetual reserve.
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.
No change, updated once annually in December. The 2017 unfunded
valuation was $22 million. The funded ratio is 84.3%, which is
considered healthy.
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.
The 2018 biannual review of years 2017 and 2016 was completed by
contracted auditors GRS. The Governmental Accounting Standards
Board (GASB) issued a new statement number 75 (GASB 75) that
required all entities to update the OPEB calculation. The main
change in the methodology is reducing the discount rate in the
calculation. The prior discount rate was 4%, the new discount rate is
3.31%. This has the effect of increasing the liability. Georgetown’s
new OPEB liability is $2,182,012, or 5.4% of covered payroll. This
change in liability is recorded as a prior period adjustment on the
balance sheet.
No change. Updated once annually.
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.
This is calculated during the year-end audit.
In 2018, total citywide compensated absence is $6.9M, of that
$5.8M is considered unfunded in the General Fund. The City's Fiscal
and Budgetary Policy state the payout reserve will equal 15% of the
liability in the Governmental Funds. The FY 2020 budget process
should consider increasing the payout reserve for the Governmental
Funds to be in compliance with the policy.
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.
Purchased Power costs exceeded budget in FY2018, the third year in
a row. The expense is a result of the City selling excess generation
into a depressed wholesale market. Additionally, the utility
experienced changes in the congestion market due to revised ERCOT
rules and the switch from a gas contract to a solar contract. A year-
end budget amendment will be necessary to authorize the expense.
The additional expense will cause a delay in building fund balance
for the non-operational reserve.
The FY2019 Electric Fund budget was amended on first reading in
December 2018 and second reading in January 2019. The
amendment included recognizing additional revenue by leaving the
current Power Cost Adjustment in place, reducing operating
expenditures, reducing bond proceeds and reducing capital
expenditures. These changes restore the 90 day contingency reserve
on a budget basis. Staff continue vetting and implementing options
to improve the Electric Fund reserves.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
December 31, 2018
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Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 9/30/18 Status Updates - 12/31/18
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 Airport Fund started FY 2019 with a positive ending balance.
The Airport Master Plan was completed and adopted. The Wildlife
Hazard Assessment is in progress and expected to be complete late
2018. The Texas Transportation Commission approved
rehabilitation of Runway 18-36 pavement, including grooving the
new pavement, overlay of additional shoulder pavement, and
installation of lighting infrastructure in preparation for future
lighting projects.
The Airport Fund continues to have a positive balance. The Wildlife
Hazard Assessment is complete and undergoing final review. The
Texas Transportation Commission approved the Runway 18-36
rehabilitation project, including grooving the new pavement, overlay
of additional shoulder pavement, and installation of lighting
infrastructure in preparation for future lighting projects.
Construction is expected to start February 2019 and end May 2019.
Currently in the process of interviewing and hiring a new Airport
Manager.
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 completed an ADA self-assessment for all public
facilities in 2015. This resulted in Capital Improvement Plans
for City Facilities, Parks and Sidewalks. FY 2018 CIP projects
included $185,564 in Public Facilities and $153,504 in Parks.
Scheduled sidewalk improvements totaled over $2.18 million,
which is completing design with implementation in FY 2019.
The City is continuing the work to include ADA access in all
new CIP projects.
The City is continuing the work on the CIP ADA projects. Ray
Miller was hired in January 2019 to continue the program and
administer the ADA Review Board.
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.
Old Town NE Sidewalk – WPAP approval has been received from
TCEQ. Design is 95% completed. One owner has signed the
easement, two other owners are ready to sign easement and it is
being scheduled. Four easements remain and are being worked on.
Austin Ave Sidewalks (Leander to Hwy 29) – Currently advertised.
Bid opening is set for 10-30-18.
Old Town NE Sidewalk – WPAP approval has been received from
TCEQ. Design is 95% completed. One owner has signed the
easement. Five easements remain and are being worked on. Austin
Ave Sidewalks (Leander to Hwy 29) – Contract awarded to Patin
Construction. Pre-construction meeting to be held, contractor plans
to start 1st part of February.
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.
All FY2018 projects have been completed including Meadow’s Park,
Williams Drive Pool filters and pool plaster at Village Pool and the
outdoor Recreation Center Pool. FY2019 projects include
renovations to Kelley Park, Recreation Center outdoor pool water
feature repairs, and filter replacements at Village Pool and the
indoor Recreation Center Pool.
FY19 projects are currently in the planning stages.
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.
Due to turnover in the Emergency Management Coordinator
position, the 2018 radio purchase will roll forward to 2019 in the
December budget amendment. The Fire Department is working to
order the 2018 and 2019 phase of the radio replacement program.
Staff will be meeting with the vendor for pricing and will be
presented to Council in the next few months.
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Unfunded Liability &
Commitments Financial Impact/Notes Status Updates - 9/30/18 Status Updates - 12/31/18
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.
Street Maintenance is currently coordinating with Systems
Engineering and evaluating the 2018 Pavement Condition Survey
results to prioritize local roads for bidding of FY 2019 Pavement
Maintenance Treatments.
The 2018 Pavement Condition Survey project was completed and
local roads were prioritized for bidding. Due to weather delays, the
entire program was not able to be completed, but will resume work
in the Spring 2019 along with other projects selected for
maintenance. Planned and programed Street Maintenance is
currently coordinated and completed by Systems Engineering
through contracting services. Public Works Operations staff
continue to work on spot repairs and general street maintenance.
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