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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 57 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. 58 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. 59