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HomeMy WebLinkAbout4th Quarter ReportVision: A caring community, honoring our past, and innovating for the future. CITY OF GEORGETOWN FISCAL YEAR 2019 BUDGET FOURTH QUARTER REPORT FINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended September 30, 2019 Table of Contents Executive Summary .................................................................................................................................... 1-8 General Fund Schedule ................................................................................................................................. 9 Electric Fund Schedule ................................................................................................................................ 10 Water Services Fund Schedule .................................................................................................................... 11 Joint Services Fund Schedule ....................................................................................................................... 12 Council Discretionary Fund Schedule .......................................................................................................... 13 Convention & Visitors Bureau Fund Schedule ............................................................................................. 14 Airport Fund Schedule ................................................................................................................................. 15 Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 16 Georgetown Economic Development Corporation Fund Schedule ............................................................. 17 Quarterly Investment Report - City ........................................................................................................ 18-46 Quarterly Investment Report - GTEC ...................................................................................................... 47-53 Quarterly Investment Report - GEDCO ................................................................................................... 54-60 Grant Applications ....................................................................................................................................... 61 Capital Improvement Projects ................................................................................................................ 62-63 Long-term Commitments and Other Unfunded Liabilities ..................................................................... 64-66 F FY2019 Quarterly Report EXECUTIVE SUMMARY FOR THE QUARTER ENDED SEPT. 30, 2019 I.QUARTERLY FINANCIAL ANALYSIS Please note this quarterly report includes unaudited figures. Currently, City staff along with our audit partners, are in the process of completing the year-end close out and the Comprehensive Annual Finance Report (CAFR). It is anticipated the CAFR process will be completed within the next few months and all numbers finalized. The numbers presented in this report are unaudited, preliminary, and subject to change. GENERAL FUND REVENUES: General Fund revenues total $71.4 million, or 100.9% of budget. Revenues exceed last year’s annual total by $8 million, or 13%. This is because Emergency Medical Services (EMS) revenue moved into the General Fund in 2019. The sales tax revenue through September totals $16.6 million, or 104.1% of budget. In the Budget process, staff projected sales tax to finish at $16.7 million, a variance from actuals of 0.9%. The core sales tax sectors of retail, food, and information continue to be strong in the fourth quarter. Sales tax revenue accounts for 22% of budgeted revenues. Property tax revenues are typically received mostly in the 2nd quarter and account for about 20% of budgeted revenues. Through the fourth quarter, the City has received $13.8 million or 99.6% of budget, and 99.4% of projection. The City collects franchise fees for electric, natural gas, cable, and non-cellular telephone services. Through the fourth quarter, franchise fee revenues total $5.64 million in FY2019, or 103.9% of budget. Franchise fees represent 8% of budgeted revenues in the fund. In the Budget process, staff projected this segment of revenue would finish at $5.58 million, a variance of 1.03%. Return on Investment (ROI) revenue represents 11% of budgeted revenues in the fund. Through the fourth quarter, ROI revenues total $7.3 million, or 94.7% of budget. During the Budget process, staff projected this segment would finish at $7.2 million, including capping the Electric ROI transfer at $3.8 million. The variance from projection is 1.2%, which is due to slightly higher than projected sales in the Water Fund. Development related revenue continues to be strong. Through the fourth quarter, development related revenue totals $4.15 million or 125.5% of budget. The variance of projection to actuals is $424 thousand, or 11.4%. Contributing factors include a large master - 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 10,000,000 11,000,000 12,000,000 13,000,000 14,000,000 15,000,000 16,000,000 17,000,000 18,000,000 19,000,000 20,000,000 General Fund Sales Tax General Fund Sales Tax FY2017 FY2018 FY2019 1 F FY2019 Quarterly Report development fee payment, as well as an increase in residential permits and inspections. The permit graph in this report shows the five-year history of permits by month. Sanitation revenue through the fourth quarter totals $9.1 million or 96.5% of budget. Sanitation revenue accounts for 13% of budgeted revenues in the fund. In the Budget process, staff projected this segment of revenue would finish the year at $9.45 million. The variance of projection to actuals is 3.56%. A portion of this is offset by a savings in sanitation contract expense. Fire and EMS revenue through the quarter totals $7.05 million, or 101.9% of budget. Previously, EMS was budgeted in a separate fund. As part of the FY2019 Budget, the department moved into the General Fund. Fire/EMS revenue is comprised of the Emergency Services District 8 contract for service, EMS transport revenues, as well as public safety grants like the SAFER grant. This segment of revenue accounts for 10% of budgeted revenue in the fund. In the Budget process, staff projected this segment of revenue would finish at $6.88 million. The variance of projection to actuals is 2.52%. Parks and Recreation revenue totals $2.7 million for the year, or 90% of budget. In the Budget process, staff projected Parks and Recreation revenue would end FY2019 at $2.7 million. This is a variance of projection to actuals is 1.5%. Parks and Recreation revenue represents just over 4% of budgeted revenues. The All Other Revenue category includes court fees, animal and library fines, as well as interest. This category is 5% over projections because allocated interest performed better than staff’s conservative estimate. Our performance target is to be within 3% of projections for all major revenue sources. Overall, the City’s General Fund revenues finished the year above budget and within 0.35% of projections. Property Tax and Sales Tax, which combine account for 42% of budgeted revenues, finished the year at 99.2% of projections. GENERAL FUND EXPENSES: Annual expenses through the fourth quarter total $68.8 million, or 97% of budget and 97.4% of projection (this includes all expenses type of personnel, operations, capital, and transfers). Personnel and Operations Summary (excludes capital accounts) Personnel costs through the quarter total $39.9 million, or 100.5% of budget. Operational costs total $27.1 million, or 94.1%. The table above 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. Administration Services Division (Administrative Services, City Council, City Secretary, and General Government Contracts) personnel and operational expenditures for the quarter totals $2.57 million, which represents 97.6% of budget. General Government Contracts includes budgeted vacancy savings estimates for all General Fund departments. Real vacancy savings is realized in each cost center. Year-to-date personnel and operational expenditures for the Community Services (Parks and Rec., Library, and Communications) and Finance Division (Municipal Court) totals $11.83 million or 95.2% of budget. The large savings in Garey Park is due to better expected performance in utilities expenses. There are also salary savings in parks. COMBINDED EXPENSES FY2019 Budget FY2019 YTD Actuals % of FY2019 Budget FY2018 Budget FY2018 YTD Actuals % of FY2018 Budget Personnel Expense 39,760,459 39,946,912 100.5% 36,675,585 36,824,068 100.4% Operations Expense 28,816,156 27,106,371 94.1% 26,653,247 25,884,988 97.1% TOTAL 68,576,615 67,053,283 97.8% 63,328,832 62,709,056 99.0% 2 F FY2019 Quarterly Report Personnel and Operations Summary (excludes capital accounts) Year-to-date personnel and operational expenditures for the Development & Planning Division totals $2.6 million through the quarter or 86.2% of budget. Operational expenses total only 57.7% year-to-date. The savings is due to fewer than anticipated transportation impact analyses (TIA) and reduced annexation planning services after the legislative session. These two savings total $170,000 and was incorporated in the FY2020 Budget development discussions. The Public Works Division (Environmental Services, Public Works, and Streets) personnel and operational expenditures through the quarter totals $11.5 million or 94.7% of budget. The savings in Public Works is related to vacancy savings, and lower than expected expenditures in street maintenance. Year-to-date personnel and operational expenditures for Fire through the quarter total $18 million or 96.5% of budget. Staff was very conservative with mid-year projections for Fire since overtime has been skewed to summer months for vacations in the past. The $600K of savings is due to a combination of salary savings in support services, FY2019 Budget FY2019 Actuals % of FY2019 Budget FY2018 Budget FY2018 Actuals % of FY2018 Budget Expenditure Administrative Services Personnel Expense 1,967,951 2,002,556 101.8% 1,900,756 1,869,331 98.3% Operations Expense 671,827 573,246 85.3% 712,883 602,235 84.5% Administrative Services Total 2,639,778 2,575,802 97.6% 2,613,639 2,471,566 94.6% Community Services and Finance Personnel Expense 7,146,124 6,983,468 97.7% 6,730,047 6,440,178 95.7% Operations Expense 5,288,877 4,854,380 91.8% 4,910,503 4,738,082 96.5% Community Services and Finance Total 12,435,001 11,837,848 95.2% 11,640,550 11,178,260 96.0% Development & Planning Personnel Expense 2,308,625 2,194,687 95.1% 2,164,868 2,032,490 93.9% Operations Expense 714,668 412,273 57.7% 731,484 738,174 100.9% Development & Planning Total 3,023,293 2,606,961 86.2% 2,896,352 2,770,664 95.7% Fire Services* Personnel Expense 15,104,380 14,516,204 96.1% 12,686,454 12,724,663 100.3% Operations Expense 3,632,363 3,572,437 98.4% 3,430,316 3,206,249 93.5% Fire Services Total 18,736,742 18,088,642 96.5% 16,116,770 15,930,912 98.8% General Gov't Contracts Personnel Expense (1,145,000) - 0.0% (750,000) - 0.0% Operations Expense 4,575,401 4,384,232 95.8% 4,003,786 4,015,619 100.3% General Gov't Contracts Total 3,430,401 4,384,232 127.8% 3,253,786 4,015,619 123.4% Public Works Personnel Expense 1,875,598 1,739,166 92.7% 1,860,648 1,618,211 87.0% Operations Expense 10,275,620 9,772,322 95.1% 9,414,929 9,189,348 97.6% Public Works Total 12,151,218 11,511,487 94.7% 11,275,577 10,807,559 95.8% Police Services Personnel Expense 12,502,781 12,510,831 100.1% 12,082,813 12,139,194 100.5% Operations Expense 3,657,400 3,537,481 96.7% 3,449,346 3,395,282 98.4% Police Services Total 16,160,181 16,048,312 99.3% 15,532,159 15,534,476 100.0% Expense Total 68,576,615 67,053,283 97.8% 63,328,832 62,709,056 99.0% 3 F FY2019 Quarterly Report and overtime savings in operations. The department experienced a higher fill rate of positions, which positively impacted overtime. Year-to-date personnel and operational expenditures for Police through the quarter totals $16 million or 99.3% of budget. In the Budget process, the Police division was identified as the only division in the General Fund as possibly needing a Year-End Budget Amendment for overtime. Due to savings in Police equipment, Animal Services, and Code Enforcement, a year end amendment will not be needed for the division. Overall, General Fund expenditures are within budget and the fund can cover the 90-day Contingency Reserve and the Benefit Payout Reserve. Every division finishes FY2019 at or below budget. UTILITY FUNDS: Electric Fund: The City has used multiple strategies in FY2019 to improve the performance of the Electric Fund in relation to past and current expenditures for purchased power contracts. These strategies include increasing the Power Cost Adjustment rate to recover revenue, reducing operating and capital expenditures in the electric utility, selling utility assets, hiring a new General Manager, contracting professional services for energy portfolio management and risk oversight. The total annual operating revenue in the Electric Fund totals $85.7 million through the fourth quarter, or 101% of budget, and 0.3% variance from projection. Electric revenue sales, the largest component of operating revenue, totals $80.2 million. The Power Cost Adjustment (PCA) was increased in February and June. Other operating revenues, which is comprised of the metering allocation, developer contributions, and other components, totals $5.3 million through the quarter. Total annual operating expenses in the Electric Fund total $78.4 million through the quarter. Purchase power expenses total $58.5 million, while congestion revenue rights (CRRs) credits total -$2.8 million. Net purchase power totals $55.6 million, which is $5.5 million higher than budgeted or 10.8%. The primary factors are transmission congestion and curtailment, late summer price spikes in the market, and a change to accruals for purchase power invoices. In addition to the PCA increase mentioned above, staff recommends the following adjustments to mitigate purchased power costs as part of the year-end budget amendment. The year-to-date column of the fund schedule presented in this report is reflective of these proposed amendments. Staff has not adjusted the budget column because at the time of this report Council has not acted on the proposed amendment. First, the amendment recognizes $1.2 million in revenue from sale of energy to customers and charges to customers. Second, staff proposes to sell land owned by the Electric fund to the Fleet Fund. This land will be the future site of the new Fleet Service Center envisioned in the facilities assessment. This amount totals $481,927 and is shown in the fund schedule under “Sale of Assets” in non-operating revenue. Third, the Water Fund will purchase the Electric Fund’s portion of the Westside Service Center (WSSC), as well as repay the debt service payments made for the facility in the past. The center is primarily used to serve the large western water customer area. In FY2020, some electric personnel will move from the center to the Georgetown Municipal Complex (GMC), and water staff at the GMC will relocate to the WSSC. The purchase of Electric’s share of the building totals $356,894. This shown in non-operating revenue under “Sale of Assets”. The previously paid debt service principal and interest totaled $470,000 and $305,234 respectively (net of handling fees $1,275 on the schedule under debt service and interest expense). Additionally, staff proposes to reclass the remaining liability of 4 FY2019 Quarterly ReportF 2013 Certificate of Obligation Bonds for the Westside Service Center totaling $1.56 million from Electric to Water. This is shown in the fund schedule as a transfer in under non-operating revenue. Fourth, staff proposes selling a portion of the fiber network owned by Electric to the Information Technology Fund. The Electric Fund installed and operates the network that is used by departments across the City. This transaction will purchase all the fiber infrastructure installed from 2003 to 2011 at a cost of $645,044. In FY 2020, staff will develop a multi-year plan for the IT Fund to buy the remainder of the fiber assets, and allocate operation and maintenance costs to all using funds. Finally, other amendments include: The South Georgetown Tax Increment Reinvestment Zone Fund will reimburse $633K of infrastructure investments made by the Electric Fund. This is shown as a transfer in under non-operating revenue. Other changes under non-operating revenue include the sale of Renewable Energy Credits for $722K, and refunding the $100K Bloomberg Grant revenue after Council action to not move forward with the grant. Operating expenditures are reduced throughout the utility, including reallocating the cost of conservation programs that primarily benefit water use to the Water Fund. Return on Investment transfer to the General Fund was also reduced an additional $500K. Capital expenditures are also reduced. Pending the approval of the year-end budget amendment, it is anticipated the fund will finish the year with an ending fund balance of $6.3 million. This balance covers the 90-day operating contingency reserve and begins to recover the rate stabilization reserve. Water Fund: Overall water operating revenue totals $67.8 million, or 113.5% of budget. The City experienced higher than projected water sales in the fiscal year. This fact also has a positive impact on ROI and Franchise Fees in the General Fund. Capital Recovery Fees finished FY2019 higher than budget and higher than projected. Over the last three fiscal years, the City has seen strong growth in this revenue stream. There were no non-operating revenues in the water fund in FY2019 while staff worked on existing multi-year debt and cash funded projects. Water operating expenses total $37 million, or 99% of budget. The fund experienced some operational savings in utilities, legal services, and contracts. Non-operating expenses total $37.4 million. The Capital Improvement budget in the Water Fund totals $85.6 million. Staff will be bringing forward a CIP rollforward amendment in December to move funds unspent in FY2019 into the FY2020 Budget for multi-year projects such as the Berry Creek Interceptor and Lake Water Treatment Plant. The debt service actuals for FY2019 exceed budget due to the reimbursement of debt principal and interest payment made by Electric for the Westside Service Center. The year-end budget amendment includes corresponding amendments to the Water Fund as described for Electric. Ending available fund balance of $47.5 million is $15 million higher than projected. However, this balance is used to cash fund 50% of water capital projects next year. OTHER MAJOR FUNDS: Convention & Visitors Bureau Fund: Overall revenue in the fund totals 1.6 million, or 103.8% of budget. Hotel Occupancy Tax revenue totals $1.4 million through the quarter, or 103.2% of budget and 94% of projection. Year to date expenses in the Convention & Visitors Bureau Fund total $1.3 million, or 98.6% of budget and 99% of projection. The fund finished FY2019 with a fund balance of $1.5 million and meets the 90-day operational reserve. 5 F FY2019 Quarterly Report Airport Fund: Airport operating revenue totals $3.4 million, which represents 88.2% of budget, and 92% of projections. Fuel Sales are less than Budget. The margin on fuel is fixed. With the depressed price on fuel, the City is selling gas at a lesser rate than budgeted. However, the cost of the fuel is also below the budgeted amount. Operation expenses in the Airport fund total $3 million, or 86% of budget and 93% of projections. Non-operating expenses total $717,491. Staff will be bringing forward a CIP rollforward amendment in December to move capital funds unspent in FY2019 into the FY2020 Budget. Overall, the fund has positive cash flow and can meet its debt service and contingency requirements, with an available ending fund balance of $1.2 million. II. INVESTMENTS The investment activity and strategies described in this report comply with the Public Funds Investment Act (PFIA), the City’s investment policy, and generally accepted accounting principles. Activity for the fourth quarter of fiscal year 2019 includes the maturing of financial institution deposits (CDs), reinvestment of CD’s, and investing of bond proceeds in CD’s and Treasury Bills. Interest rates for money market accounts, Treasury bills, and CD’s decreased during this quarter. We have begun to see a decline in rates being submitted to competitive investment offerings due to changes in the market. The Federal Open Market Committee (FOMC) lowered the Federal Funds rate on September 18 by another 25 basis-points (new range 1.75%-2.00%). The City will continue soliciting for the best rates to improve both diversity and yield, while keeping in mind safety and liquidity. This quarter the portfolio balances decreased due to General Obligation, Certificate of Obligation, and Utility Revenue bond principle and interest payments that were made in August. The Investment Reports for the quarter ending September 30, 2019, and the supporting schedules are attached. Valley View Consulting, L.L.C., has prepared the attached investment reports. A component of our investment advisory services contract includes Valley View preparing the quarterly investment reports on behalf of the City. A summary of the investment balances at September 30, 2019, 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). The table presents book values. Market value of the Treasury securities is shown in the attached detailed report. CITY GTEC GEDCO 6/30/19 9/30/19 6/30/19 9/30/19 6/30/19 9/30/19 Total cash and investments $204,976,917 $178,882,868 $21,345,649 $20,551,884 $7,950,908 $8,248,890 Average Yield 2.50% 2.29% 2.50% 2.31% 2.43% 2.15% 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. The City is continuing to manage the 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 bank deposits, local government investment pool balances, money market accounts, financial institution deposits (CD’s), and Treasury Bills. All 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 100% with a letter of credit or 102% with pledged securities for all of the City’s investments. All securities 6 F FY2019 Quarterly Report held by financial institutions as collateral on behalf of the City have been reviewed and met PFIA-minimum rating criteria. The City has worked closely with the City’s depository bank (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. As of March, the City is receiving the alternative premium rate of 1.25% for our Earnings Credit Rate (ECR). 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. FIRE STATIONS 6 & 7 Fire Station No. 6: Both concrete blocks and wood framing are complete. Final site grading has begun in anticipation of site paving beginning soon. Structural steel and roof decking are complete. Interior rough-in for Electrical, Plumbing and air conditioning have begun. Fire Station No. 7: Concrete construction and wood framing are complete. Structural steel and roof decking are complete. Site Paving is complete, with the exception of sidewalks. Interior rough-in for Electrical, Plumbing and air conditioning have begun. COMMUNITY SERVICES Construction on several sidewalk improvement projects throughout the city began in May 2017. This was the first round of sidewalk improvement projects identified in the adopted Sidewalk Master Plan and was funded in part by a road bond approved by voters in May 2015. Work on the initial designed portion is complete and the next downtown sidewalk project is currently being designed. Old Town North East Sidewalks: Contractor has begun installing sidewalk throughout the project. Sidewalk is installed along 7th from Maple towards the I.O.O.F cemetery. Currently working to install sidewalk along 7th from Myrtle to Elm and on College from 6th to 8th street. Estimated completion is end of March 2020. Austin Ave. Sidewalks (Hwy. 29 to Leander Rd): Contractor has a few minor punch list items to complete. Project should be closed out by the end of November 2019. 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 January 28, 2019 and is scheduled for completion in January 2020. 7 F FY2019 Quarterly Report The Pecan Branch Wastewater Treatment Plant expansion takes 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 was completed in August 2019. Only minor punch-list items remain. The Shell Road and CR 255 water main designs are complete and easement acquisitions are in progress. Construction of Shell Road Waterline Improvements is estimated to start in February 2021. CR 255 has been on hold. The Reagan 30-inch waterline was moved up in priority and was completed in June of 2019. 8 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 10,917,971 10,946,800 10,946,800 - - Revenue Administrative Charges 2,428,000 202,333 2,428,000 2,428,000 - - All Other Revenue 2,430,500 163,657 2,294,810 2,183,832 110,978 5.08% Development and Permit Fees 3,307,000 584,658 4,151,850 3,726,935 424,915 11.40% Franchise Fees 5,434,000 1,469,942 5,646,479 5,589,123 57,356 1.03% Parks and Rec Fees 2,960,100 192,226 2,668,469 2,708,167 (39,698) -1.47% Property Tax 13,850,000 (7,060) 13,800,380 13,880,000 (79,620) -0.57% ROI 7,777,490 2,114,771 7,364,577 7,277,490 87,087 1.20% Sales Tax 15,924,475 4,117,811 16,581,705 16,734,375 (152,670) -0.91% Sanitation Revenue 9,448,500 648,982 9,116,394 9,452,750 (336,356) -3.56% Fire/EMS Revenue 6,926,266 695,640 7,059,204 6,885,370 173,834 2.52% Transfer In 321,782 88,750 321,783 321,783 - - Revenue Total 70,808,113 10,271,710 71,433,651 71,187,825 245,826 0.35% Expense Administrative Services 1,571,103 153,897 1,605,930 1,571,084 (34,846) -2.22% Animal Services 926,122 91,148 871,897 888,693 16,796 1.89% Arts & Culture 37,545 4,444 39,077 37,545 (1,532) -4.08% City Council 171,395 12,517 168,069 169,595 1,526 0.90% City Secretary 897,280 104,525 801,804 844,379 42,575 5.04% Code Enforcement 432,800 42,385 387,844 419,061 31,217 7.45% Communications 425,160 34,110 399,754 409,718 9,964 2.43% Environmental Services 7,902,414 1,402,531 7,740,074 7,901,514 161,440 2.04% Fire Emergency Services 13,181,569 1,369,109 12,859,582 13,177,738 318,156 2.41% Fire Support Services 3,000,589 297,663 2,892,457 2,973,649 81,192 2.73% Fire EMS 2,593,697 250,939 2,376,764 2,584,430 207,666 8.04% Garey Park 948,290 96,529 760,203 842,399 82,196 9.76% General Gov't Contracts 3,430,401 292,430 4,365,305 3,964,796 (400,509) -10.10% Inspections 1,277,145 120,509 1,237,826 1,249,703 11,877 0.95% Library 2,696,579 238,558 2,688,859 2,683,051 (5,808) -0.22% Municipal Court 635,935 51,169 634,728 634,168 (560) -0.09% Parks 2,799,674 270,489 2,605,753 2,691,034 85,281 3.17% Parks Admin 615,051 54,178 600,757 613,715 12,958 2.11% Planning 1,746,148 167,838 1,369,134 1,507,294 138,160 9.17% Police Admin 2,355,161 206,855 2,391,132 2,387,527 (3,605) -0.15% Police Operations 12,450,598 1,094,182 12,397,439 12,575,343 177,904 1.41% Public Works 1,296,263 138,943 1,050,822 1,196,755 145,933 12.19% Rec Programs 1,358,009 99,158 1,246,310 1,310,665 64,355 4.91% Recreation 2,650,888 221,179 2,639,488 2,650,686 11,198 0.42% Streets 4,688,211 330,695 3,942,701 4,463,819 521,118 11.67% Tennis Center 463,162 42,318 411,338 449,365 38,027 8.46% Transfer Out 361,000 - 361,000 446,000 85,000 19.06% Expense Total 70,912,190 7,188,299 68,846,048 70,643,726 1,797,678 2.54% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (104,077) 3,083,411 2,587,603 544,099 2,043,504 375.58% ENDING FUND BALANCE 10,813,894 13,534,403 11,490,899 2,043,504 17.78% RESERVES Contingency Reserve 9,977,771 9,977,771 9,977,771 Benefit Payout Reserve 255,000 255,000 255,000 Reserve Total 10,232,771 10,232,771 10,232,771 AVAILABLE FUND BALANCE 581,123 3,301,632 1,258,128 2,043,504 162.42% Preliminary Actuals to Year-End Projection: Sept FY 2019 General Fund 9  APRROVED  BUDGET   CURRENT PERIOD   YEAR TO DATE  (W/ENCUMB)   YEAR‐END  PROJECTION   YEAR‐END  VARIANCE  FAV(UNFAV)  % YEAR‐END  VARIANCE  FAV(UNFAV) BEGINNING FUND BALANCE 2,103,922                2,103,922                2,103,922                ‐                             0.00% Operating Revenue Electric Revenue 79,100,000              9,368,227                80,255,956              80,100,000              155,956                    0.19% Interest 38,000                      2,968                         78,214                      78,214                      ‐                             ‐                              Other Revenue 5,233,546                827,032                    5,343,637                5,216,177                127,460                    2.44%  Transfer In 95,787                      ‐                             ‐                             ‐                             ‐                             NA Operating Revenue Total 84,467,333              10,198,227              85,677,807              85,394,391              283,416                   0.33% Operating Expenditures CRR Credits (3,000,000)               (532,188)                  (2,821,759)               (2,821,759)               ‐                             ‐                              Georgetown Utility Systems 19,337,779              1,870,561                18,897,528              19,347,922              450,394                    2.33% Purchased Power 53,185,477              11,879,286              58,465,559              58,465,559              ‐                             ‐                              Transfers Out ‐ROI 4,325,000                153,497                    3,825,000                3,825,000                ‐                             ‐                              Operating Expenditures Total 73,848,256              13,371,156              78,366,328              78,816,722              450,394                   0.57% Total Net Operations 10,619,077              (3,172,929)               7,311,479                6,577,669                733,810                   11.16% Non‐Operating Revenue   Renewable Energy Credits ‐                             722,381                    722,381                    722,381                    ‐                             ‐                                Grant Revenue 100,000                    ‐                             ‐                             ‐                             ‐                            NA Transfers In 548,104                    2,196,009                2,196,009                2,196,009                ‐                             ‐                              Sale of Assets 10,000                      1,483,867                1,504,207                859,162                    645,045                    75.08% Non‐Operating Revenue Total 658,104                   4,402,257                4,422,597                3,777,552                645,045                   17.08% Non‐Operating Expenditures CIP 4,017,007                744,586                    3,857,165                3,872,055                14,890                      0.38% Interest Expense 1,386,781                (305,234)                  1,081,547                1,081,547                ‐                             ‐                              Debt Service 3,035,374                (468,725)                  2,565,874                2,565,874                ‐                             ‐                              Non‐Operating Expenditures Total 8,439,162                (29,373)                    7,504,586                7,519,476                14,890                      0.20% Total Net Non‐Operations (7,781,058)               4,431,630                (3,081,989)               (3,741,924)               659,935                   17.64% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 2,838,019                1,258,702                4,229,490                2,835,745                1,393,745                49.15% ENDING FUND BALANCE 4,941,941                6,333,412                4,939,667                1,393,745                28.22% RESERVES Contingency 4,082,999                4,082,999                4,082,999                 Rate Stabilization Reserve 147,079                    2,250,413                856,668                     Reserves Total 4,230,078                6,333,412                4,939,667                 AVAILABLE FUND BALANCE 711,863                   0                                0                                ‐                             ‐                              Electric Fund Preliminary Actuals to Year‐End Projection: Sep FY2019 10 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) % YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 89,159,703 89,128,534 89,128,534 - 0.00% Operating RevenueCapital Recovery Fee 14,250,000 1,163,198 15,803,197 15,139,255 663,942 4.39% Interest 569,400 160,456 2,080,718 1,482,998 597,720 40.30% Irrigation Utility Revenue 301,557 89,338 302,818 301,578 1,241 0.41% Other Revenue 2,262,146 321,202 5,316,144 3,546,274 1,769,870 49.91% Raw Water Revenue 140,000 132,603 353,873 140,000 213,873 152.77%Transfer In, Debt 103,725 103,725 103,725 103,725 - 0.00% Wastewater Utility Revenue 12,975,345 (40,868)12,026,638 13,015,186 (988,548)-7.60% Water Utility Revenue 29,116,931 5,547,482 31,890,934 29,350,000 2,540,934 8.66% Operating Revenue Total 59,719,104 7,477,137 67,878,047 63,079,016 4,799,031 7.61% Operating Expenditures Irrigation 270,324 21,318 167,875 270,000 102,125 37.82% Transfer Out, Fleet/Joint Service 245,000 - 245,000 245,000 - 0.00% Transfer Out, General 275,000 68,750 275,000 275,000 - 0.00% Transfer Out, ROI 3,200,000 1,842,036 3,286,284 3,200,000 (86,284)-2.70% Transfer Out, Utilities 95,787 - - - - N/A Wastewater Distribution 904,415 206,395 713,376 795,050 81,674 10.27% Wastewater Plant Management 2,705,069 345,293 2,843,610 2,687,676 (155,934)-5.80% Water Administration 19,923,733 3,272,624 20,251,416 20,981,179 729,763 3.48% Water Distribution 2,707,265 550,231 2,450,121 2,598,600 148,479 5.71% Water Operations 4,157,528 384,377 4,241,261 4,252,288 11,027 0.26% Water Plant Management 2,948,733 399,701 2,588,735 2,909,309 320,573 11.02% Operating Expenditures Total 37,432,854 7,090,725 37,062,678 38,214,102 1,151,424 3.01% Total Net Operations 22,286,250 386,412 30,815,368 24,864,914 5,950,455 23.93% Non-Operating Revenue Bond Proceeds - - - - - N/ANon-Operating Revenue Total Non-Operating Expenditures Transfer Out - 1,562,500 1,562,500 - (1,562,500) N/A CIP 90 85,667,940 2,247,266 28,783,245 40,226,858 11,443,613 28.45%CIP 91 - - 62,218 - (62,218)N/A Debt Service 6,250,111 777,759 7,024,771 6,250,111 (774,660)-12.39% Non-Operating Expenditures Total 91,918,051 4,587,524 37,432,734 46,476,969 9,044,236 19.46% Total Net Non-Operations (91,918,051) (4,587,524) (37,432,734) (46,476,969) 9,044,236 19.46% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (69,631,801) (4,201,112) (6,617,365) (21,612,055) 14,994,690 69.38% ENDING FUND BALANCE 19,527,902 82,511,169 67,516,479 14,994,690 22.21% Reserves Reserved Bond Proceeds 18,000,000 18,000,000 90 Day Operational Contingency 7,498,183 7,498,183 7,498,183 Non-Operational Contingency 9,500,000 9,500,000 9,500,000 Reserves Total 16,998,183 34,998,183 34,998,183 AVAILABLE FUND BALANCE 2,529,719 47,512,986 32,518,296 14,994,690 46.11% Water Fund Preliminary Actuals to Year-End Projection: Sep FY2019 11 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 1,469,434 1,469,434 1,469,434 - - Revenue Gedco Admin/Contract Fee 238,622 19,885 238,622 238,622 - - Gtec Admin/Contract Fee 172,318 14,360 172,318 172,318 - - Interest 17,503 3,066 21,881 25,000 (3,119) -12.48% Other 136,153 17,749 166,918 213,412 (46,494) -21.79% Service Fees - Airport 128,966 10,747 128,966 128,966 - - Service Fees - Electric 4,615,524 82,983 4,313,880 4,313,880 - - Service Fees - General 3,573,156 109,236 3,384,629 3,384,629 - - Service Fees - Stormwater 1,020,427 47,330 982,721 982,721 - - Service Fees - Water 7,966,284 1,191,735 8,494,162 8,494,162 - - VPID Admin/Contract Fee 15,924 1,327 15,924 15,924 - - Revenue Total 17,884,877 1,498,418 17,920,021 17,969,634 (49,613) -0.28% Expense Accounting 1,067,433 121,975 1,042,590 1,044,212 1,622 0.16% BIP 150,085 15,915 132,497 127,117 (5,380) -4.23% City Wide Hr 415,500 64,843 335,868 382,500 46,632 12.19% Conservation 766,699 77,230 645,400 704,374 58,974 8.37% Customer Care 4,701,266 407,970 4,665,988 4,696,447 30,459 0.65% Economic Development 635,768 52,314 575,053 609,899 34,846 5.71% Engineering 2,430,052 233,283 2,257,510 2,258,637 1,127 0.05% Engineering Support 1,147,160 98,543 1,102,642 1,131,488 28,846 2.55% Finance Administration 975,583 134,370 957,379 960,951 3,573 0.37% Gus Administration 1,476,541 122,981 1,419,084 1,490,841 71,757 4.81% Human Resources 1,003,190 105,905 983,696 991,779 8,083 0.81% In-House Legal 1,038,782 158,884 1,067,373 1,031,103 (36,270) -3.52% Insurance & Legal 752,000 10,095 658,146 727,249 69,103 9.50% Joint Svcs Con 598,775 436,611 1,250,595 960,000 (290,595) -30.27% Purchasing 811,459 153,987 763,425 770,628 7,203 0.93% Transfer Out 157,000 100,000 157,000 157,000 - - Expense Total 18,127,293 2,294,908 18,014,245 18,044,225 29,980 0.17% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (242,416) (796,489) (94,224) (74,591) (19,633)-26.32% ENDING FUND BALANCE 1,227,018 1,375,210 1,394,843 (19,633) -1.41% RESERVES Contingency 1,227,018 1,227,018 1,227,018 Reserves Total 1,227,018 1,227,018 1,227,018 AVAILABLE FUND BALANCE - 148,192 167,825 (19,633) -11.70% Joint Services Fund Preliminary Actuals to Year-End Projection: Sep FY2019 12 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 131,914 131,915 131,915 - 0.00% Revenue Interest 10,000 227 2,468 2,500 (32) -1.27% Transfer In, General Fund - - - - - - Revenue Total 10,000 227 2,468 2,500 (32) -1.27% Expense Transfer Out, GCP - - - - - - Transfer Out, General Fund 25,000 20,000 25,000 25,000 - - Transfer Out, Joint Services - - - - - - Expense Total 25,000 20,000 25,000 25,000 - - EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (15,000) (19,773) (22,532) (22,500) (32) 0.14% ENDING FUND BALANCE 116,914 109,383 109,415 (32) -0.03% Preliminary Actuals to Year-End Projection: Sep FY2019 Council Discretionary Fund 13 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 1,170,801 1,301,054 1,301,054 - - Revenue Hotel/Motel Occupancy Tax Revenues 1,350,000 119,749 1,393,228 1,300,000 93,228 7.17%Interest 5,000 2,593 23,784 18,000 5,784 32.14% Other 23,500 929 20,847 18,500 2,347 12.69% Poppy Festival 136,150 749 134,883 144,283 (9,400) -6.52% Revenue Total 1,514,650 124,020 1,572,742 1,480,783 91,959 6.21% Expense Operations 713,831 69,990 689,559 703,729 14,170 2.01% Personnel 369,492 32,487 378,505 371,704 (6,801) -1.83%Poppy Festival 165,200 - 161,522 165,200 3,678 2.23% Transfer to Facilities 49,507 4,126 49,507 49,507 - - Transfer to Fleet 5,048 421 5,048 5,048 - - Transfer to General Fund 21,783 - 21,783 21,783 - - Transfer to Information Technology 27,722 2,310 27,722 27,722 - - Expense Total 1,352,583 109,334 1,333,645 1,344,693 11,048 0.82% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 162,067 14,686 239,097 136,090 103,007 75.69% ENDING FUND BALANCE 1,332,868 1,540,151 1,437,144 103,007 7.17% RESERVES Contingency 271,189 271,189 271,189 Reserved for Capital 1,061,680 1,061,680 1,061,680 Reserves Total 1,332,869 1,332,869 1,332,869 AVAILABLE FUND BALANCE (1) 207,282 104,275 103,007 98.78% Preliminary Actuals to Year-End Projection: Sep FY2019 Convention & Visitors Bureau Fund 14    APPROVED  BUDGET   CURRENT PERIOD   YEAR YO DATE  (W/ENCUMB)   YEAR‐END  PROJECTION   YEAR‐END  VARIANCE   FAV(UNFAV)    % YEAR‐END  VARIANCE  FAV(UNFAV)  BEGINNING FUND BALANCE 1,298,256                1,298,256                1,298,256                ‐                             ‐                              Operating Revenue Fuel and Terminal Sales 2,907,450                214,113                    2,446,977                2,751,500                (304,523)                  ‐11.07% Interest and Other 80,260                      35,551                      84,372                      86,000                      (1,628)                        ‐1.89% Leases and Rentals 863,952                    73,083                      865,655                    859,940                    5,715                         0.66% Operating Revenue Total 3,851,662                322,747                   3,397,004                3,697,440                (300,436)                  ‐8.13% Operating Expenditures Operations‐Fuel 2,389,550                186,185                    1,934,792                2,200,000                265,208                    12.05% Operations‐Non Fuel 743,171                    80,664                      737,735                    726,748                    (10,987)                     ‐1.51% Personnel 417,348                    52,860                      381,938                    371,525                    (10,413)                     ‐2.80% Operating Expenditures Total 3,550,069                319,709                   3,054,464                3,298,273                243,809                   7.39% TOTAL NET OPERATIONS 301,593                   3,037                         342,539                   399,167                   (56,627)                    ‐14.19% Non‐Operating Revenue Bond Proceeds 465,000                    ‐                             472,813                    465,000                    7,813                         1.68% Grants 40,000                      ‐                             55,870                      40,000                      15,870                      39.68% Non‐Operating Revenue Total 505,000                   ‐                             528,683                   505,000                   23,683                      4.69% Non‐Operating Expenditures Airport Master Plan ‐                             ‐                             5,870                         ‐                             (5,870)                        ‐                             Debt Service 147,975                    27                              139,886                    147,975                    8,089                         5.47% Edge Lighting 150,000                    (128,760)                  ‐                             150,000                    150,000                    100.00% Hangar Upgrades 75,000                      12,331                      75,000                      75,000                      ‐                             0.00% Pavement Upgrades 15,000                      ‐                             (10,744)                     15,000                      25,744                      171.63% Runway Rehab 516,500                    475,677                    475,677                    516,500                    40,823                      7.90% Wildfire Management 35,000                      7,200                         31,801                      35,000                      3,199                         9.14% Non‐Operating Expenditure Total 939,475                   366,475                   717,491                   939,475                   221,984                   23.63% TOTAL NET NON‐OPERATIONS (434,475)                  (366,475)                  (188,807)                  (434,475)                  245,668                   56.54% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL  REQUIREMENTS (132,882)                  (363,439)                  153,732                   (35,308)                    189,040                   535.40% ENDING FUND BALANCE 1,165,374                1,451,988                1,262,948                189,040                   14.97% RESERVES Contingency 264,442                    264,442                    264,442                     Reserves Total 264,442                   264,442                   264,442                    AVAILABLE FUND BALANCE 900,932                   1,187,546                998,506                   189,040                   18.93% Airport Operations Fund Preliminary Actuals to Year‐End Projection: Sep FY2019 15 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) % YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 18,539,789 18,539,789 18,539,789 - - Operating Revenue Sales Tax 7,073,100 1,830,139 7,369,645 7,437,500 (67,855) -0.91% Interest 190,000 26,909 480,236 308,317 171,919 55.76% Operating Revenue Total 7,263,100 1,857,048 7,849,881 7,745,817 104,064 1.34% Operating Expenditure Administrative Support 391,697 32,575 391,018 391,197 (179) -0.05% Operating Expenditure Total 391,697 32,575 391,018 391,197 (179) -0.05% TOTAL NET OPERATIONS 6,871,403 1,824,473 7,458,863 7,354,620 103,885 1.41% Non-Operating Expenditure Pecan Center Dr to Airport Rd (FY15)2,445,036 - (331) 386,000 386,331 100.09% Arterial SE1: Inner Loop/SH130 - - - - - - Rivery TIA Improvements 359,496 4,140 299,630 359,496 59,866 16.65% FM 971 / Fontana 63,102 23,396 14,767 63,102 48,335 76.60% Rivery-Extension Williams Dr to NW Blvd (FY16)730,635 797 475,883 730,635 254,752 34.87% IH 35 / HWY29 Intersection 606,653 141 160,825 606,648 445,823 73.49% NB Frontage 2338 to Lakeway 51,631 - 18,705 51,631 32,926 63.77% SW Bypass 2243 to IH35 128,144 - - 13,071 13,071 100.00% FM1460 Widening 500,783 - 60 500,784 500,724 99.99% Wolf Ranch Pkwy Extension 283,350 - - 11,000 11,000 100.00% Mays St 4,500,000 - 67,395 1,000,000 932,605 93.26% Available for Projects TBD 1,716,644 - - 1,716,644 1,716,644 100.00% SE Inner Loop Widening (Rock Ride ROW)900,000 - 948,251 948,251 - - Debt Service 3,324,747 603 3,327,340 3,324,747 (2,593) -0.08% Non-Operating Expenditure Total 15,610,221 29,077 5,312,525 9,712,009 4,399,484 45.30% TOTAL NET NON-OPERATIONS (15,610,221) (29,077) (5,312,525) (9,712,009) 4,399,484 45.30% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (8,738,818) 1,795,396 2,146,338 (2,357,389) 4,503,369 191.03% ENDING FUND BALANCE 9,800,971 20,686,127 16,182,400 4,503,369 27.83% RESERVES Contingency 1,768,275 1,768,275 1,768,275 Reserved Bond Proceeds - 2,500,000 2,500,000 Reserves Total 1,768,275 4,268,275 4,268,275 AVAILABLE FUND BALANCE 8,032,696 16,417,852 11,914,125 4,503,727 37.80% Georgetown Transportation Enhancement Corporation Fund Preliminary Actuals to Year-End Projection September 2019 16 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) % YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 6,853,073 6,972,637 6,972,637 - - OPERATING REVENUES Interest 40,300 14,494 178,542 119,000 59,542 50.04% Sales Tax 1,768,275 457,535 1,842,411 1,859,375 (16,964) -0.91%OPERATING REVENUES Total 1,808,575 472,029 2,020,953 1,978,375 42,578 2.15% OPERATING EXPENDITURES Joint Services Allocation 238,622 19,885 238,622 238,622 - - Miscellaneous Expense 50 - - 50 50 100.00% Promotional & Marketing Program 100,000 14,997 97,324 100,000 2,676 2.68% Special Services 30,000 12,493 12,843 30,000 17,157 57.19% Travel & Training 500 - - - - - OPERATING EXPENDITURES Total 369,172 47,375 348,789 368,672 19,883 5.39% TOTAL NET OPERATIONS 1,439,403 424,654 1,672,164 1,609,703 (62,462) -3.88% NON-OPERATING EXPENDITURES Principal Reduction 80,568 80,568 80,568 80,568 - - Debt Service 205,069 120 205,189 205,069 (120) -0.06% Interest Expense 23,157 23,157 23,157 23,157 - - Atmos Energy 146,096 - 151 225,000 224,849 99.93% DisperSol 50,000 - 30,000 30,000 - - Economic Development Projects -Undetermined 7,000,517 - - - - - Holt Cat 185,000 - - - - - Radiation Detection Company 150,000 - - - - - NON-OPERATING EXPENDITURES Total 7,840,407 103,845 339,065 563,794 224,729 39.86% TOTAL NET NON-OPERATIONS (7,840,407) (103,845) (339,065) (563,794) (224,729) 39.86% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (6,401,004) 320,809 1,333,099 1,045,909 287,190 27.46% ENDING FUND BALANCE 452,069 8,305,736 8,018,546 287,190 3.58% RESERVES Contingency 442,069 442,069 442,069 Reserves Total 442,069 442,069 442,069 AVAILABLE FUND BALANCE 10,000 7,863,667 7,576,477 287,190 3.79% Georgetown Economic Development Corporation Fund Preliminary Actuals to Year-End Projection: Sep FY2019 17 18 FYE Results by Investment Category:Asset TypeAve. YieldBook ValueMarket ValueAve. YieldBook ValueMarket ValueDemand Accounts0.34% 12,430,730$ 12,430,730$ 0.52% 6,140,421$ 6,140,421$ NOW/MMA2.33% 10,191,154 10,191,154 2.21% 20,080,071 20,080,071 Pools2.00% 48,966,731 48,966,731 2.12% 80,054,900 80,054,900 CDs/Securities2.28% 108,457,058 108,455,269 2.65% 72,607,471 72,611,429 Totals180,045,674$ 180,043,885$ 178,882,862$178,886,821$ Fourth Quarter-End Yield2.07%2.29%Average Quarter-End Yields (1):2018 Fiscal Year2019 Fiscal YearGeorgetown-City1.30%2.36%Rolling Three Month Treasury 1.23%2.30%Rolling Six Month Treasury 1.26%2.37%TexPool1.18%2.31%(1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.September 30, 2018Annual Comparison of Portfolio PerformanceSeptember 30, 2019Valley View Consulting, L.L.C.Page 1.19 SummaryQuarter End Results by Investment Category:Asset TypeBook ValueMarket ValueBook ValueMarket ValueAve. YieldDemand Accounts5,585,797$ 5,585,797 6,140,421$ 6,140,421$ 0.52%NOW/MMA10,387,689 10,387,689 20,080,071 20,080,071 2.21%Pools95,580,912 95,580,912 80,054,900 80,054,900 2.12%CDs/Securities93,415,689 93,422,519 72,607,471 72,611,429 2.65%Totals 204,970,088$ 204,976,917$ 178,882,862$ 178,886,821$ Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 2.29%Total Portfolio 2.36%Rolling Three Month Treasury 2.02%Rolling Three Month Treasury 2.30%Rolling Six Month Treasury 2.17%Rolling Six Month Treasury 2.37%TexPool 2.16%TexPool 2.31% Bank Fees Offset 9,926$ Interest income provided in separate report.51,762$ June 30, 2019(1) Average Yield calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees.(2) Fiscal Year-to-Date Average Yields calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees.Quarterly Bank Fees OffsetYear-to-date Bank Fees OffsetSeptember 30, 2019Valley View Consulting, L.L.C.Page 2.20 Economic Overview9/30/2019The Federal Open Market Committee (FOMC) reduced the Fed Funds target range to 1.75% - 2.00% (Effective Fed Funds are trading +/-1.83%). The Futures Market continues to project additional decreases. Gradual Federal Reserve Bank portfolio reduction ended. August Non Farm Payroll added 136,000 new jobs, with the rolling three month averaging 157,000. Crude oil settled back and trades +/-$55. The Stock Markets waffled near the recent highs. Consumer spending continues albeit less robustly. Overall economic activity remains mostly positive with 2nd Quarter GDP recorded at 2.0%. Brexit, Chinese trade concerns, growth outlook, and other factors may weigh on US growth. The inverted Yield Curve persists with yields declining.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,250S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.501.001.502.002.503.003.50Treasury Yield CurvesSeptember 30, 2018June 30, 2019September 30, 20190.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.Page 3.21 City - Investment HoldingsCoupon/ Maturity Settlement Face Amount/ Book Market Market Life Description Ratings Discount Date Date Par ValueValue PriceValue (Day) YieldJPMorgan Chase Cash (3)0.52% 10/01/19 09/30/19 6,140,421$ 6,140,421$ 1.00 6,140,421$ 1 0.52%Veritex Bank MMA2.25% 10/01/19 09/30/19 3,176,587 3,176,587 1.00 3,176,587 1 2.25%NexBank MMA2.15% 10/01/19 09/30/19 7,275,059 7,275,059 1.00 7,275,059 1 2.15%Origin Bank MMA2.25% 10/01/19 09/30/19 9,628,425 9,628,425 1.00 9,628,425 1 2.25%TexPoolAAAm 2.16% 10/01/19 09/30/19 19,406,369 19,406,369 1.00 19,406,369 1 2.16%TexSTARAAAm 2.11% 10/01/19 09/30/19 60,648,531 60,648,531 1.00 60,648,531 1 2.11% LegacyTexas Bank CD2.84% 10/23/19 10/23/18 4,105,507 4,105,507 100.00 4,105,507 23 2.88%T-BillAaa/AA+2.43% 11/07/19 02/07/19 5,000,000 4,987,201 99.82 4,991,160 38 2.51%Southside Bank CD2.76% 11/19/19 11/19/18 3,194,266 3,194,266 100.00 3,194,266 50 2.76%R Bank CD2.55% 12/07/19 06/07/19 2,012,896 2,012,896 100.00 2,012,896 68 2.58%WallisBank CD2.77% 01/03/20 01/04/19 3,041,365 3,041,365 100.00 3,041,365 95 2.80%Independent Bank CD2.88% 02/03/20 08/03/18 5,145,563 5,145,563 100.00 5,145,563 126 2.91%East West Bank CD2.25% 02/03/20 08/02/19 4,466,489 4,466,489 100.00 4,466,489 126 2.28%BBVA Bank CD2.25% 02/03/20 08/02/19 2,003,825 2,003,825 100.00 2,003,825 126 2.28%R Bank CD2.89% 02/15/20 02/15/19 6,086,603 6,086,603 100.00 6,086,603 138 2.93%R Bank CD2.15% 02/16/20 08/16/19 1,000,000 1,000,000 100.00 1,000,000 139 2.17%Southside Bank CD2.65% 03/13/20 03/13/19 6,080,421 6,080,421 100.00 6,080,421 165 2.68%East West Bank CD2.62% 04/01/20 04/01/19 5,183,750 5,183,750 100.00 5,183,750 184 2.65%LegacyTexas Bank CD2.91% 05/06/20 11/06/18 4,098,011 4,098,011 100.00 4,098,011 219 2.95%Southside Bank CD2.47% 05/11/20 05/10/19 3,018,677 3,018,677 100.00 3,018,677 224 2.49%BBVA Bank CD2.51% 06/20/20 06/20/19 4,025,386 4,025,386 100.00 4,025,386 264 2.54%East West Bank CD2.48% 07/15/20 04/15/19 5,057,743 5,057,743 100.00 5,057,743 289 2.51%R Bank CD2.10% 08/16/20 08/16/19 2,000,000 2,000,000 100.00 2,000,000 321 2.12%LegacyTexas Bank CD2.66% 08/21/20 02/22/19 6,093,315 6,093,315 100.00 6,093,315 3262.69%Independent Bank CD2.56% 11/10/20 05/10/19 1,006,453 1,006,453 100.00 1,006,453 407 2.58%178,895,661$ 178,882,862$ 178,886,821$702.29%(1) (2)September 30, 2019(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.(3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees.Valley View Consulting, L.L.C.Page 4.22 City - Book Value ComparisonCoupon/ Maturity Face Amount/Purchases/ Sales/Adjust/ Face Amount/DescriptionDiscount Date Par Value Book Value Adjustments Call/Maturity Par Value Book ValueJPMorgan Chase Cash0.52% 10/01/19 5,585,797$ 5,585,797$ 554,623$ –$ 6,140,421$ 6,140,421$ Veritex Bank MMA2.25% 10/01/19 3,157,291 3,157,291 19,297 3,176,587 3,176,587 NexBank MMA2.15% 10/01/19 7,230,398 7,230,398 44,660 7,275,059 7,275,059 Origin Bank MMA2.25% 10/01/19– – 9,628,425 9,628,425 9,628,425 TexPool2.16% 10/01/19 14,288,253 14,288,253 5,118,115 19,406,369 19,406,369 TexSTAR2.11% 10/01/19 81,292,659 81,292,659 (20,644,127) 60,648,531 60,648,531 East West Bank CD2.20%08/01/193,089,921 3,089,921 (3,089,921)– – BTH Bank CD2.58%08/03/193,065,092 3,065,092 (3,065,092)– – Independent Bank CD 2.75%08/03/1918,372,777 18,372,777 (18,372,777)– – East West Bank CD2.66%08/06/191,010,623 1,010,623 (1,010,623)– – East West Bank CD2.70%08/13/196,144,625 6,144,625 (6,144,625)– – Origin Bank CD2.72%08/13/193,019,897 3,019,897 (3,019,897)– – LegacyTexas Bank CD 2.84%10/23/194,076,258 4,076,258 29,249 4,105,507 4,105,507 T-Bill2.43%11/07/195,000,000 4,956,215 30,986 5,000,000 4,987,201 Southside Bank CD2.76%11/19/193,172,198 3,172,198 22,068 3,194,266 3,194,266 R Bank CD2.55%12/07/192,000,000 2,000,000 12,896 2,012,896 2,012,896 WallisBank CD2.77%01/03/203,020,498 3,020,498 20,867 3,041,365 3,041,365 Independent Bank CD 2.88%02/03/205,108,479 5,108,479 37,083 5,145,563 5,145,563 East West Bank CD2.25%02/03/20– – 4,466,489 4,466,489 4,466,489 BBVA Bank CD2.25%02/03/20– – 2,003,825 2,003,825 2,003,825 R Bank CD2.89%02/15/206,042,429 6,042,429 44,174 6,086,603 6,086,603 R Bank CD2.15%02/16/20– – 1,000,000 1,000,000 1,000,000 Southside Bank CD2.65%03/13/206,040,077 6,040,077 40,344 6,080,421 6,080,421 East West Bank CD2.62%04/01/205,149,632 5,149,632 34,119 5,183,750 5,183,750 LegacyTexas Bank CD 2.91%05/06/204,068,099 4,068,099 29,912 4,098,011 4,098,011 Southside Bank CD2.47%05/11/203,000,000 3,000,000 18,677 3,018,677 3,018,677 BBVA Bank CD2.51%06/20/20– – 4,025,386 4,025,386 4,025,386 East West Bank CD2.48%07/15/205,026,227 5,026,227 31,516 5,057,743 5,057,743 R Bank CD2.10%08/16/20– – 2,000,000 2,000,000 2,000,000 LegacyTexas Bank CD 2.66%08/21/206,052,643 6,052,643 40,672 6,093,315 6,093,315 Independent Bank CD 2.56%11/10/201,000,000 1,000,000 6,453 1,006,453 1,006,453 TOTAL205,013,872$ 204,970,088$ 29,259,837$ (55,347,062)$ 178,895,661$ 178,882,862$ June 30, 2019September 30, 2019Valley View Consulting, L.L.C.Page 5.23 City - Market Value Comparison Coupon/ Maturity Face Amount/ Qtr to Qtr Face Amount/Description Discount Date Par Value Market Value Change Par Value Market ValueJPMorgan Chase Cash 0.52% 10/01/19 5,585,797$ 5,585,797$ 554,623$ 6,140,421$ 6,140,421$ Veritex Bank MMA2.25% 10/01/19 3,157,291 3,157,291 19,297 3,176,587 3,176,587 NexBank MMA2.15% 10/01/19 7,230,398 7,230,398 44,660 7,275,059 7,275,059 Origin Bank MMA2.25% 10/01/19– – 9,628,425 9,628,425 9,628,425 TexPool2.16% 10/01/19 14,288,253 14,288,253 5,118,115 19,406,369 19,406,369 TexSTAR2.11% 10/01/19 81,292,659 81,292,659 (20,644,127) 60,648,531 60,648,531 East West Bank CD2.20% 08/01/19 3,089,921 3,089,921 (3,089,921)– – BTH Bank CD2.58% 08/03/19 3,065,092 3,065,092 (3,065,092)– – Independent Bank CD 2.75% 08/03/19 18,372,777 18,372,777 (18,372,777)– – East West Bank CD2.66% 08/06/19 1,010,623 1,010,623 (1,010,623)– – East West Bank CD2.70% 08/13/19 6,144,625 6,144,625 (6,144,625)– – Origin Bank CD2.72% 08/13/19 3,019,897 3,019,897 (3,019,897)– – LegacyTexas Bank CD 2.84% 10/23/19 4,076,258 4,076,258 29,249 4,105,507 4,105,507 T-Bill2.43% 11/07/19 5,000,000 4,963,045 28,115 5,000,000 4,991,160 Southside Bank CD2.76% 11/19/19 3,172,198 3,172,198 22,068 3,194,266 3,194,266 R Bank CD2.55% 12/07/19 2,000,000 2,000,000 12,896 2,012,896 2,012,896 WallisBank CD2.77% 01/03/20 3,020,498 3,020,498 20,867 3,041,365 3,041,365 Independent Bank CD 2.88% 02/03/20 5,108,479 5,108,479 37,083 5,145,563 5,145,563 East West Bank CD2.25% 02/03/20– – 4,466,489 4,466,489 4,466,489 BBVA Bank CD2.25% 02/03/20– – 2,003,825 2,003,825 2,003,825 R Bank CD2.89% 02/15/20 6,042,429 6,042,429 44,174 6,086,603 6,086,603 R Bank CD2.15% 02/16/20– – 1,000,000 1,000,000 1,000,000 Southside Bank CD2.65% 03/13/20 6,040,077 6,040,077 40,344 6,080,421 6,080,421 East West Bank CD2.62% 04/01/20 5,149,632 5,149,632 34,119 5,183,750 5,183,750 LegacyTexas Bank CD 2.91% 05/06/20 4,068,099 4,068,099 29,912 4,098,011 4,098,011 Southside Bank CD2.47% 05/11/20 3,000,000 3,000,000 18,677 3,018,677 3,018,677 BBVA Bank CD2.51% 06/20/20– – 4,025,386 4,025,386 4,025,386 East West Bank CD2.48% 07/15/20 5,026,227 5,026,227 31,516 5,057,743 5,057,743 R Bank CD2.10% 08/16/20– – 2,000,000 2,000,000 2,000,000 LegacyTexas Bank CD 2.66% 08/21/20 6,052,643 6,052,643 40,672 6,093,315 6,093,315 Independent Bank CD 2.56% 11/10/20 1,000,000 1,000,000 6,453 1,006,453 1,006,453 TOTAL205,013,872$ 204,976,917$ (26,090,096)$ 178,895,661$ 178,886,821$ September 30, 2019June 30, 2019Valley View Consulting, L.L.C.Page 6.24 0–6 Months83%6–12 Months16%12–18 Months1%Current Quarter Maturities $0 $25,000,000 $50,000,000 $75,000,000 $100,000,000 $125,000,000 $150,000,000 $175,000,000 $200,000,000 $225,000,00012/31/18 03/31/19 06/30/19 09/30/19Portfolio BalancesMoney MarketLocal DepositoryTexSTARTexPoolCertificate of DepositUS Treasury16617416610269907375109104123156163971088751674941917361549971124951008070050100150200# of DaysWeighted Average to MaturityJPMorgan Chase3%Southside Bank 7%LegacyTexas Bank8%Veritex Bank 2%NexBank4%TexPool11%TexSTAR34%IndependentBank4%Origin Bank5%WallisBank2%East West Bank8%R bank6%BBVA Bank3%T-Bill3%Portfolio Holdings by IssuerValley View Consulting, L.L.C.Page 7.25 City - AllocationInvestment TotalConsolidated2013 GO- Parks/Public Safety2014 CO- Downtown Parks2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ VehiclesJPMorgan Chase Cash6,140,421$ 6,140,421$ –$ –$ –$ –$ –$ Veritex Bank MMA3,176,587 3,176,587 – – – – – NexBank MMA7,275,059 7,275,059 – – – – – Origin Bank MMA9,628,425 4,011,844 – – – – – TexPool19,406,369 19,406,369 – – – – – TexSTAR60,648,531 9,570,642 157,987 59,667 944,180 1,985,069 121,638 LegacyTexas Bank CD 10/23/19 4,105,507 4,105,507 – – – – – T-Bill11/07/19 4,987,201 – – – – – – Southside Bank CD11/19/19 3,194,266 3,194,266 – – – – – R Bank CD12/07/19 2,012,896 2,012,896 – – – – – WallisBank CD01/03/20 3,041,365 3,041,365 – – – – – Independent Bank CD02/03/20 5,145,563 3,069,396 – – – – – East West Bank CD02/03/20 4,466,489 – – – – – – BBVA Bank CD02/03/20 2,003,825 – – – – – – R Bank CD02/15/20 6,086,603 6,086,603 – – – – – R Bank CD02/16/20 1,000,000 – – – – – – Southside Bank CD03/13/20 6,080,421 6,080,421 – – – – – East West Bank CD04/01/20 5,183,750 5,183,750 – – – – – LegacyTexas Bank CD 05/06/20 4,098,011 4,098,011 – – – – – Southside Bank CD05/11/20 3,018,677 3,018,677 – – – – – BBVA Bank CD06/20/20 4,025,386 4,025,386 – – – – – East West Bank CD07/15/20 5,057,743 5,057,743 – – – – – R Bank CD08/16/20 2,000,000 – – – – – – LegacyTexas Bank CD 08/21/20 6,093,315 6,093,315 – – – – – Independent Bank CD11/10/20 1,006,453 1,006,453 – – – – – Totals178,882,862$ 105,654,710$ 157,987$ 59,667$ 944,180$ 1,985,069$ 121,638$ Book ValueSeptember 30, 2019Valley View Consulting, L.L.C.Page 8.26 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsBook ValueSeptember 30, 2019(Continued)2015 CO-Stormwater 2015 CO-Water2015 GO-Roads2015 Revenue Water WW2016 CO- Rivery TIRZ2016 CO- Streets/ Facilities/ Equip2016 GO- Roads–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175 14,428 2,486,163 999,652 4,330 55,861 1,512,621 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 532,498 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175$ 14,428$ 2,486,163$ 1,532,149$ 4,330$ 55,861$ 1,512,621$ Valley View Consulting, L.L.C.Page 9.27 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsBook ValueSeptember 30, 2019(Continued)2016 Revenue Water/WWGarey Park Donation2017 CO Facilities/ Public Safety/ Equipment2017 GO- Parks2017 GO- Sidewalks2017 Revenue Electric2017 Revenue Water WW–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,065,612 385,898 193,554 75,482 943,007 96,503 7,444,101 – – – – – – – – – – – – – 4,987,201 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – 2,065,612$ 385,898$ 193,554$ 75,482$ 943,007$ 96,503$ 15,431,302$ Valley View Consulting, L.L.C.Page 10.28 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsBook ValueSeptember 30, 2019(Continued)2018 CO-Airport2018 CO- Streets/ Facilities/ Equip2018 GO- Parks2018 GO- Roads2018 Revenue Electric2019 CO-Airport2019 CO- Streets/ Facilities/ Equip–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – 4,663,768 – – – – – – – 154,588 2,769,635 1,127,886 12,084,681 1,525,298 1,070 9,471,437 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,025,524 518,145 – – – – – – – – – – 3,462,784 – – – 2,003,825 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 154,588$ 3,795,159$ 1,646,031$ 14,088,506$ 1,525,298$ 1,070$ 17,597,989$ Valley View Consulting, L.L.C.Page 11.29 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsBook ValueSeptember 30, 2019(Continued)2018 CO-Stormwater2018 GO-Roads–$ –$ – – – – – 952,813 – – 721,434 3,065,932 – – – – – – – – – – – – – 1,003,705 – – – – – – – – – – – – – – – – – – – – – – – – 721,434$ 5,022,450$ Valley View Consulting, L.L.C.Page 12.30 City - AllocationSeptember 30, 2019Market ValueInvestment TotalConsolidated2013 GO- Parks/Public Safety2014 CO- Downtown Parks2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ VehiclesJPMorgan Chase Cash6,140,421$ 6,140,421$ –$ –$ –$ –$ Veritex Bank MMA3,176,587 3,176,587 – – – – – NexBank MMA7,275,059 7,275,059 – – – – – Origin Bank MMA9,628,425 4,011,844 – – – – – TexPool19,406,369 19,406,369 – – – – – TexSTAR60,648,531 9,570,642 157,987 59,667 944,180 1,985,069 121,638 LegacyTexas Bank CD 10/23/19 4,105,507 4,105,507 – – – – – T-Bill11/07/19 4,991,160 – – – – – – Southside Bank CD11/19/19 3,194,266 3,194,266 – – – – – R Bank CD12/07/19 2,012,896 2,012,896 – – – – – WallisBank CD01/03/20 3,041,365 3,041,365 – – – – – Independent Bank CD02/03/20 5,145,563 3,069,396 – – – – – East West Bank CD02/03/20 4,466,489 – – – – – – BBVA Bank CD02/03/20 2,003,825 – – – – – – R Bank CD02/15/20 6,086,603 6,086,603 – – – – – R Bank CD02/16/20 1,000,000 – – – – – – Southside Bank CD03/13/20 6,080,421 6,080,421 – – – – – East West Bank CD04/01/20 5,183,750 5,183,750 – – – – – LegacyTexas Bank CD 05/06/20 4,098,011 4,098,011 – – – – – Southside Bank CD05/11/20 3,018,677 3,018,677 – – – – – BBVA Bank CD06/20/20 4,025,386 4,025,386 – – – – – East West Bank CD07/15/20 5,057,743 5,057,743 – – – – – R Bank CD08/16/20 2,000,000 – – – – – – LegacyTexas Bank CD 08/21/20 6,093,315 6,093,315 – – – – – Independent Bank CD11/10/20 1,006,453 1,006,453 – – – – – Totals178,886,821$ 105,654,710$ 157,987$ 59,667$ 944,180$ 1,985,069$ 121,638$ Valley View Consulting, L.L.C.Page 13.31 City - AllocationSeptember 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2015 CO-Stormwater 2015 CO-Water2015 GO-Roads2015 Revenue Water WW2016 CO- Rivery TIRZ2016 CO- Streets/ Facilities/ Equip2016 GO- Roads–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175 14,428 2,486,163 999,652 4,330 55,861 1,512,621 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 532,498 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175$ 14,428$ 2,486,163$ 1,532,149$ 4,330$ 55,861$ 1,512,621$ Valley View Consulting, L.L.C.Page 14.32 City - AllocationSeptember 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2016 Revenue Water/WWGarey Park Donation2017 CO Facilities/ Public Safety/ Equipment2017 GO- Parks2017 GO- Sidewalks2017 Revenue Electric2017 Revenue Water WW–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,065,612 385,898 193,554 75,482 943,007 96,503 7,444,101 – – – – – – – – – – – – – 4,991,160 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – 2,065,612$ 385,898$ 193,554$ 75,482$ 943,007$ 96,503$ 15,435,261$ Valley View Consulting, L.L.C.Page 15.33 City - AllocationSeptember 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2018 CO-Airport2018 CO- Streets/ Facilities/ Equip2018 GO- Parks2018 GO- Roads2018 Revenue Electric2019 CO-Airport2019 CO- Streets/ Facilities/ Equip–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – 4,663,768 – – – – – – – 154,588 2,769,635 1,127,886 12,084,681 1,525,298 1,070 9,471,437 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,025,524 518,145 – – – – – – – – – – 3,462,784 – – – 2,003,825 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 154,588$ 3,795,159$ 1,646,031$ 14,088,506$ 1,525,298$ 1,070$ 17,597,989$ Valley View Consulting, L.L.C.Page 16.34 City - AllocationSeptember 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARLegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20East West Bank CD02/03/20BBVA Bank CD02/03/20R Bank CD02/15/20R Bank CD02/16/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20BBVA Bank CD06/20/20East West Bank CD07/15/20R Bank CD08/16/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2018 CO-Stormwater2018 GO-Roads–$ –$ – – – – – 952,813 – – 721,434 3,065,932 – – – – – – – – – – – – – 1,003,705 – – – – – – – – – – – – – – – – – – – – – – – – 721,434$ 5,022,450$ Valley View Consulting, L.L.C.Page 17.35 City - AllocationInvestment TotalConsolidated2013 GO- Parks/Public Safety2014 CO- Downtown Parks2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ VehiclesJPMorgan Chase Cash5,585,797$ 5,585,797$ –$ –$ –$ –$ –$ Veritex Bank MMA3,157,291 3,157,291 – – – – – NexBank MMA7,230,398 7,230,398 – – – – – TexPool14,288,253 14,288,253 – – – – – TexSTAR81,292,659 17,498,406 157,111 59,336 1,617,652 14,986,361 189,283 East West Bank CD08/01/19 3,089,921 3,089,921 – – – – – BTH Bank CD08/03/19 3,065,092 – – – – – – Independent Bank CD08/03/19 18,372,777 – – – – – – East West Bank CD08/06/19 1,010,623 – – – – – – East West Bank CD08/13/19 6,144,625 6,144,625 – – – – – Origin Bank CD08/13/19 3,019,897 – – – – – – LegacyTexas Bank CD 10/23/19 4,076,258 4,076,258 – – – – – T-Bill11/07/19 4,956,215 – – – – – – Southside Bank CD11/19/19 3,172,198 3,172,198 – – – – – R Bank CD12/07/19 2,000,000 2,000,000 – – – – – WallisBank CD01/03/20 3,020,498 3,020,498 – – – – – Independent Bank CD02/03/20 5,108,479 3,047,276 – – – – – R Bank CD02/15/20 6,042,429 6,042,429 – – – – – Southside Bank CD03/13/20 6,040,077 6,040,077 – – – – – East West Bank CD04/01/20 5,149,632 5,149,632 – – – – – LegacyTexas Bank CD 05/06/20 4,068,099 4,068,099 – – – – – Southside Bank CD05/11/20 3,000,000 3,000,000 – – – – – East West Bank CD07/15/20 5,026,227 5,026,227 – – – – – LegacyTexas Bank CD 08/21/20 6,052,643 6,052,643 – – – – – Independent Bank CD11/10/20 1,000,000 1,000,000 – – – – – Totals204,970,088$ 108,690,028$ 157,111$ 59,336$ 1,617,652$ 14,986,361$ 189,283$ June 30, 2019Book ValueValley View Consulting, L.L.C.Page 18.36 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsJune 30, 2019Book Value(Continued)2015 CO-Stormwater 2015 CO-Water2015 GO-Roads2015 Revenue Water WW2016 CO- Rivery TIRZ2016 CO- Streets/ Facilities/ Equip2016 GO- Roads–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 629,787 14,348 2,472,379 10,949 4,306 55,551 1,525,813 – – – – – – – – – – – – – – – – – 1,020,710 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 528,660 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 629,787$ 14,348$ 2,472,379$ 1,560,318$ 4,306$ 55,551$ 1,525,813$ Valley View Consulting, L.L.C.Page 19.37 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsJune 30, 2019Book Value(Continued)2016 Revenue Water/WWGarey Park Donation2017 CO Facilities/ Public Safety/ Equipment2017 GO- Parks2017 GO- Sidewalks2017 Revenue Electric2017 Revenue Water WW–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 931,743 385,940 334,995 75,064 1,243,158 95,968 4,648,515 – – – – – – – – – – – – – 3,065,092 4,082,839 – – – – – – – – – – – – – – – – – – – – – – – – – – 3,019,897 – – – – – – – – – – – – – 4,956,215 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 5,014,582$ 385,940$ 334,995$ 75,064$ 1,243,158$ 95,968$ 15,689,718$ Valley View Consulting, L.L.C.Page 20.38 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsJune 30, 2019Book Value(Continued)2018 CO-Airport2018 CO- Streets/ Facilities/ Equip2018 GO- Parks2018 GO- Roads2018 Revenue Electric2019 CO-Airport2019 CO- Streets/ Facilities/ Equip–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 153,731 509,167 741,707 5,312,952 2,301,797 1,064 19,208,081 – – – – – – – – – – – – – – – 3,368,342 1,020,710 8,880,175 – – – – – – 1,010,623 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,018,133 514,410 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 153,731$ 4,895,643$ 2,276,828$ 15,203,750$ 2,301,797$ 1,064$ 19,208,081$ Valley View Consulting, L.L.C.Page 21.39 City - AllocationJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20TotalsJune 30, 2019Book Value(Continued)2018 CO-Stormwater2018 GO-Roads–$ –$ – – – – – – 782,294 5,345,200 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 782,294$ 5,345,200$ Valley View Consulting, L.L.C.Page 22.40 City - AllocationJune 30, 2019Market ValueInvestment TotalConsolidated2013 GO- Parks/Public Safety2014 CO- Downtown Parks2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ VehiclesJPMorgan Chase Cash5,585,797$ 5,585,797$ –$ –$ –$ –$ Veritex Bank MMA3,157,291 3,157,291 – – – – – NexBank MMA7,230,398 7,230,398 – – – – – TexPool14,288,253 14,288,253 – – – – – TexSTAR81,292,659 17,498,406 157,111 59,336 1,617,652 14,986,361 189,283 East West Bank CD08/01/19 3,089,921 3,089,921 – – – – – BTH Bank CD08/03/19 3,065,092 – – – – – – Independent Bank CD08/03/19 18,372,777 – – – – – – East West Bank CD08/06/19 1,010,623 – – – – – – East West Bank CD08/13/19 6,144,625 6,144,625 – – – – – Origin Bank CD08/13/19 3,019,897 – – – – – – LegacyTexas Bank CD 10/23/19 4,076,258 4,076,258 – – – – – T-Bill11/07/19 4,963,045 – – – – – – Southside Bank CD11/19/19 3,172,198 3,172,198 – – – – – R Bank CD12/07/19 2,000,000 2,000,000 – – – – – WallisBank CD01/03/20 3,020,498 3,020,498 – – – – – Independent Bank CD02/03/20 5,108,479 3,047,276 – – – – – R Bank CD02/15/20 6,042,429 6,042,429 – – – – – Southside Bank CD03/13/20 6,040,077 6,040,077 – – – – – East West Bank CD04/01/20 5,149,632 5,149,632 – – – – – LegacyTexas Bank CD 05/06/20 4,068,099 4,068,099 – – – – – Southside Bank CD05/11/20 3,000,000 3,000,000 – – – – – East West Bank CD07/15/20 5,026,227 5,026,227 – – – – – LegacyTexas Bank CD 08/21/20 6,052,643 6,052,643 – – – – – Independent Bank CD11/10/20 1,000,000 1,000,000 – – – – – Totals204,976,917$ 108,690,028$ 157,111$ 59,336$ 1,617,652$ 14,986,361$ 189,283$ Valley View Consulting, L.L.C.Page 23.41 City - AllocationJune 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2015 CO-Stormwater 2015 CO-Water2015 GO-Roads2015 Revenue Water WW2016 CO- Rivery TIRZ2016 CO- Streets/ Facilities/ Equip2016 GO- Roads–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 629,787 14,348 2,472,379 10,949 4,306 55,551 1,525,813 – – – – – – – – – – – – – – – – – 1,020,710 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 528,660 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 629,787$ 14,348$ 2,472,379$ 1,560,318$ 4,306$ 55,551$ 1,525,813$ Valley View Consulting, L.L.C.Page 24.42 City - AllocationJune 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2016 Revenue Water/WWGarey Park Donation2017 CO Facilities/ Public Safety/ Equipment2017 GO- Parks2017 GO- Sidewalks2017 Revenue Electric2017 Revenue Water WW–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 931,743 385,940 334,995 75,064 1,243,158 95,968 4,648,515 – – – – – – – – – – – – – 3,065,092 4,082,839 – – – – – – – – – – – – – – – – – – – – – – – – – – 3,019,897 – – – – – – – – – – – – – 4,963,045 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 5,014,582$ 385,940$ 334,995$ 75,064$ 1,243,158$ 95,968$ 15,696,548$ Valley View Consulting, L.L.C.Page 25.43 City - AllocationJune 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2018 CO-Airport2018 CO- Streets/ Facilities/ Equip2018 GO- Parks2018 GO- Roads2018 Revenue Electric2019 CO-Airport2019 CO- Streets/ Facilities/ Equip–$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 153,731 509,167 741,707 5,312,952 2,301,797 1,064 19,208,081 – – – – – – – – – – – – – – – 3,368,342 1,020,710 8,880,175 – – – – – – 1,010,623 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,018,133 514,410 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 153,731$ 4,895,643$ 2,276,828$ 15,203,750$ 2,301,797$ 1,064$ 19,208,081$ Valley View Consulting, L.L.C.Page 26.44 City - AllocationJune 30, 2019Market ValueJPMorgan Chase CashVeritex Bank MMANexBank MMATexPoolTexSTAREast West Bank CD08/01/19BTH Bank CD08/03/19Independent Bank CD08/03/19East West Bank CD08/06/19East West Bank CD08/13/19Origin Bank CD08/13/19LegacyTexas Bank CD 10/23/19T-Bill11/07/19Southside Bank CD11/19/19R Bank CD12/07/19WallisBank CD01/03/20Independent Bank CD02/03/20R Bank CD02/15/20Southside Bank CD03/13/20East West Bank CD04/01/20LegacyTexas Bank CD 05/06/20Southside Bank CD05/11/20East West Bank CD07/15/20LegacyTexas Bank CD 08/21/20Independent Bank CD11/10/20Totals(Continued)2018 CO-Stormwater2018 GO-Roads–$ –$ – – – – – – 782,294 5,345,200 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 782,294$ 5,345,200$ Valley View Consulting, L.L.C.Page 27.45 Valley View Consulting, L.L.C.0.001.002.003.004.005.006.00City of Georgetown Historical Yields Georgetown TexPool Rolling 3 mo T-Bill Rolling 6 mo T-Bill Rolling 12 mo T-BillPage 28.46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 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 120,110.95 50,000.00 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 16MPGRGTN Airport Master Plan Update 5,870.00 5,870.00 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1814GRGTN Runway 18/36 Rehabilitation-Engineering 458,400.00 412,560.00 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1814GEORG Runway 18/36 Rehabilitation- Construction 4,298,372.42 3,868,535.18 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1914GEORG Taxiway Lighting Project - -$ Fire US Department of Homeland Security Federal Emergency Management Agency EMW-2017-FH-00496 SAFER 474,551.90 355,627.84 Library Institute of Museum & Library Services Texas State Library & Archives Commission LS-00-18-0044-18 TSL Resource Coordinator - 3rd year (Patrick Lloyd) 71,657.34 69,743.00 Planning US Department of Housing & Urban Development Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps along 17th St 19,760.00 19,760.00 Police Bureau of Justice Assistance N/A KXPIIIA Bullet Proof Vests - Supply Police with new vests 3,560.85 1,780.44 Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement 30,808.54 40,228.65 Police US. Department of Treasury N/A TX2460200 Equitable Sharing Agreement 51,536.26 - Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-187 Highway Planning & Construction (Austin Ave Bridge) 89,033.08 - Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-200,201,202 Highway Planning & Construction (Austin Ave Bridge) - - Parks Texas Parks and Wildlife Department (TPWD) Federal Highway Administration RT017010 Recreation San Gabriel Trails $ 16,239.73 $- Division Grantor Status Gus - Electric Department of Energy (DOE)Battery Storage Project Pending discussion between Opus One and new Electric Manager before taking to council (as of 10/8/19) Planning Williamson County/CDBG Home Repair No agreement with HUD until after 10/1/2019 Planning Williamson County/CDBG Scenic Dr Sidewalk Alternate Project, likely will not be awarded. Reviewed By: Elaine Wilson CITY OF GEORGETOWN Grant/Federal Funding Reportas of September 30, 2019 COG Name/Purpose Active Applications Pending Award 61 CIP Quarterly Report - Q4 FY2019 Budget Year-todate (W/Encum)Remaining Balance AIRPORT OPERATIONS 600-5-0636-52-140 DESIGN RUNWAY REHAB 516,500 475,677 40,823 600-5-0636-52-141 HANGAR UPGRADES 75,000 75,000 - 600-5-0636-52-142 PAVEMENT UPGRADES 15,000 (10,744) 25,744 600-5-0636-52-145 WILDLIFE MANAGEMENT 35,000 31,801 3,199 600-5-0636-52-161 AIRPORT MASTER PLAN - 5,870 (5,870) 600-9-0636-52-144 TAXIWAY EDGE LIGHTING 150,000 - 150,000 AIRPORT OPERATIONS Total 791,500 577,605 213,895 CDBG GRANTS 215-9-0880-90-003 17TH STREET 206,824 23,830 182,994 215-9-0880-90-004 MAPLE STREET 80,784 - 80,784 CDBG GRANTS Total 287,608 23,830 263,778 DOWNTOWN TIRZ 293-9-0602-90-002 PARKING IMPROVEMENTS 106,902 830 106,072 293-9-0602-90-003 DTWN LANDSPING & PUBLC ART 45,000 79,205 (34,205) 293-9-0602-90-007 GRACE HERITAGE PLAZA 139,100 - 139,100 DOWNTOWN TIRZ Total 291,002 80,035 210,967 ELECTRIC SERVICES 610-9-0580-90-007 I35 MOBILITY TXDOT PROJECT - 4,450 (4,450) 610-9-0580-90-134 HWY 195 - 903 (903) 610-9-0580-90-137 RONALD REAGAN - 303 (303) 610-9-0580-90-142 DOWNTOWN WEST 227,536 100,888 126,648 610-9-0580-90-143 SHELL ROAD FEEDERS - 13,545 (13,545) 610-9-0580-90-256 GEO. EAST T2 VOLTAGE CHANGE 23,757 5,350 18,407 610-9-0580-90-260 DB WOOD_SH29 INTERSECTION 145,445 52,420 93,025 610-9-0580-90-263 LEANDER RD_IH35 INTERSECTION 10,000 - 10,000 610-9-0580-90-264 NORTHWEST BLVD WIDENING - (0) 0 610-9-0580-90-266 RIVERY EXTENSION 49,269 24,713 24,557 610-9-0580-90-267 UNIVERSITY_MAYS WIDENING 154,000 2,104 151,896 610-9-0580-90-310 POWER QUALITY IMPROVEMENTS 40,000 - 40,000 610-9-0580-90-320 SECTIONALIZATION IMPROVEMENTS 50,000 - 50,000 610-9-0580-90-350 RELOCATION PROJECTS REIMBURSED - 16,585 (16,585) 610-9-0580-90-410 NEW DEVELOPMENT PROJECTS 3,023,000 3,445,057 (422,057) 610-9-0580-90-430 STREET LIGHTING 44,000 226 43,774 610-9-0580-90-500 CONSULTANT ENGINEERING 150,000 158,916 (8,916) 610-9-0580-90-701 FIBER OPTIC 50,000 11,706 38,294 610-9-0580-90-702 FIBER TO SIGNAL LIGHTS 50,000 - 50,000 610-9-0580-91-105 CIS SYSTEM - 20,000 (20,000) ELECTRIC SERVICES Total 4,017,007 3,857,165 159,842 GATEWAY TIRZ 295-9-0602-90-001 CAPITAL IMPROVEMENTS 120,000 - 120,000 GATEWAY TIRZ Total 120,000 - 120,000 GENERAL CAPITAL PROJECTS 120-9-0280-90-031 NEIGHBORHOOD PARK DEVELOPMENT 250,000 97,867 152,133 120-9-0280-90-035 VFW PARK 175,000 163,325 11,675 120-9-0280-90-045 SAN GABRIEL PARK IMPROVEMENT 834,288 532,381 301,907 120-9-0280-90-046 GAREY PARK 370,000 28,470 341,530 120-9-0280-90-047 SIDEWALKS 142,858 87,659 55,199 120-9-0280-90-051 LIBRARY CANOPY 75,934 75,934 0 120-9-0280-90-060 ADA PARKS 450,405 - 450,405 120-9-0280-90-066 KATY CROSSING TRAIL 240,313 - 240,313 120-9-0380-90-048 FIRE STATION ASSESSMENTS 30,000 30,000 - 120-9-0380-90-080 DOWNTOWN PARKING GARAGE 5,000,000 55,971 4,944,029 120-9-0380-90-159 FIRE STATION 7 6,471,601 5,405,623 1,065,978 120-9-0380-90-160 EOC SIREN SYSTEM 6,631 - 6,631 120-9-0380-90-163 FIRE STATION 6 5,499,725 4,834,842 664,883 120-9-0380-90-166 DATA CENTER - PSOTC 100,676 158,220 (57,544) 120-9-0380-90-168 TRANSFER STATION/LANDFILL 1,011,337 44,201 967,136 120-9-0380-90-169 ERP PROJECT 5,366,384 5,268,880 97,504 62 CIP Quarterly Report - Q4 FY2019 Budget Year-todate (W/Encum)Remaining Balance 120-9-0380-90-170 FACILITY EFFICIENCY STUDY 78,734 91,234 (12,500) 120-9-0381-90-022 RADIO REPLACEMENT PUB SAFETY 500,000 500,000 - 120-9-0381-91-016 FIRE SCBA 290,000 - 290,000 120-9-0381-91-022 RADIO REPLACEMENT 500,000 500,000 - 120-9-0680-90-008 CVB REDESIGN 175,000 - 175,000 120-9-0680-90-012 DOWNTOWN WEST 560,897 583,128 (22,231) 120-9-0680-90-013 DOWNTOWN WEST SIGNAGE 125,000 - 125,000 120-9-0680-90-014 DOWNTOWN PARKING EXPANSION 600,000 74,764 525,236 120-9-0880-90-038 LEANDER RD(NORWOOD-SWBYPASS)2,000,000 1,211,749 788,251 120-9-0880-90-041 BLUE HOLE PARKING LOT/SIDEWALK 100,000 - 100,000 120-9-0880-90-050 NB FRONTAGE RD 150,000 3 149,997 120-9-0880-90-054 AUSTIN AVENUE BRIDGE 238,132 155,161 82,971 120-9-0880-90-065 SOUTHWESTERN BLVD 1,550,000 509,485 1,040,515 120-9-0880-90-066 SHELL ROAD SIDEWALK 180,000 - 180,000 120-9-0880-90-086 SW BYPASS LEANDER TO I35 - (1,000) 1,000 120-9-0880-90-087 FM 971 3,900,000 18,665 3,881,335 120-9-0880-90-088 FM 1460 900,000 - 900,000 120-9-0880-90-091 SW BYPASS/WOLF RANCH PKWY 1,717,771 715,647 1,002,124 120-9-0880-90-092 SOUTHEAST INNER LOOP 1,200,000 855,318 344,682 120-9-0880-90-105 NORTHWEST BLVD BRIDGE 10,307,612 2,701,389 7,606,223 120-9-0880-90-106 LEANDER RD(SW BYPASS)1,550,000 - 1,550,000 120-9-0880-90-107 ROCK ST-6TH TO 9TH ST 273,000 - 273,000 120-9-0880-90-108 RIVERY EXTENSION - 56,187 (56,187) 120-9-0880-90-109 SE INNER LOOP ROCKRIDE IMPRV 115,000 - 115,000 120-9-0880-91-001 10TH ST (MAIN-ROCK)168,880 168,880 - 120-9-0880-91-002 11TH ST. (MAIN-ROCK)236,130 236,130 - 120-9-0880-91-006 AUSTIN AVE. (SH29-FM2243)492,300 494,445 (2,145) 120-9-0880-91-008 OLD TOWN NORTHEAST 826,445 2,017 824,428 120-9-0880-91-009 PH 1 SIGNAL & CURB RAMP IMPR.308,837 - 308,837 GENERAL CAPITAL PROJECTS Total 55,068,890 25,656,574 29,412,316 STORMWATER CAPITAL IMPROVEMENT 640-9-0880-90-005 CURB & GUTTER 527,504 122,853 404,651 640-9-0880-90-020 STORMWATER INFASTRUCTURE 200,000 41,100 158,900 640-9-0880-90-040 SPOILS FACILITY 100,000 - 100,000 640-9-0880-90-064 POND REHAB-2ND AND ROCK 450,000 24,205 425,795 640-9-0880-90-078 18TH AND HUTTO DRAINAGE 184,367 25,544 158,823 640-9-0880-90-079 2ND AND ROCK POND - 894 (894) 640-9-0880-90-081 VILLAGE PID INLET 75,000 - 75,000 STORMWATER CAPITAL IMPROVEMENT Total 1,536,871 214,596 1,322,275 STREET TAX SRF 203-9-0880-90-071 STREET MAINTENANCE 5,443,616 5,101,569 342,047 STREET TAX SRF Total 5,443,616 5,101,569 342,047 WATER SERVICES 660-9-0580-90-071 TANK REHAB PROJECTS 480,000 55,455 424,545 660-9-0580-90-076 DB WOOD/ PASTOR 24 DEDICATED 5,285,667 3,015,549 2,270,118 660-9-0580-90-077 RABBIT HILL WATERLINE 1,050,000 - 1,050,000 660-9-0580-90-078 RONALD REAGAN/DANIELS MOUNTAIN 6,425,959 6,177,625 248,334 660-9-0580-90-079 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 - 3,327 (3,327) 660-9-0580-90-125 SHELL ROAD WATER LINE 6,033,651 - 6,033,651 660-9-0580-90-146 LWTP - DEWATERING FACILITY - 29,879 (29,879) 660-9-0580-90-166 LEANDER INTERCONNECT 225,000 - 225,000 660-9-0580-90-167 WEST LOOP (H-1A)2,119,000 854,862 1,264,138 660-9-0580-90-168 LWTP RAW WATER INTAKE REHAB 13,450,000 2,884,761 10,565,239 660-9-0580-90-170 CR 255 (WD14-2)1,493,963 - 1,493,963 660-9-0580-90-171 DOMEL PS IMPROVEMENTS (216,892) (216,892) - 660-9-0580-90-175 BRAUN EST 4,350,731 3,528,453 822,278 660-9-0580-90-176 MISC. LINE UPGRADES 393,899 22,049 371,850 660-9-0580-90-177 PARK WTP CLEARWELL 170,000 - 170,000 660-9-0580-90-178 S. LAKE WTP 2018 6,950,260 3,179,544 3,770,716 660-9-0580-90-179 SW BYPASS WATER H24-1 500,000 - 500,000 660-9-0580-90-180 TANK REHABILITATION 480,000 - 480,000 660-9-0580-90-200 WATER MAINS 2,208,325 821,777 1,386,548 660-9-0580-91-102 ASSET MANAGEMENT - 24,565 (24,565) 660-9-0580-91-105 CIS SYSTEM - 37,653 (37,653) 660-9-0581-90-051 PECAN BRANCH PH 2 - 1,264 (1,264) 660-9-0581-90-160 BERRY CREEK INTER (BC 4-6)20,714,161 5,791,223 14,922,938 660-9-0581-90-162 BERRY CREEK INTER (BC 1-3)- 42,318 (42,318) 660-9-0581-90-163 SAN GABRIEL BELT PRESS 1,900,932 58,500 1,842,432 660-9-0581-90-164 PARK LIFT STATION & FORCE MAIN 3,585,740 11,400 3,574,340 660-9-0581-90-166 EARZ 2,000,000 1,173,688 826,312 660-9-0581-90-167 SAN GABRIEL INTER SGI-2 2,500,000 1,037,700 1,462,300 660-9-0581-90-200 WW INTERCEPTORS 613,874 5,444 608,430 660-9-0581-90-210 WWTP UPGRADE/EXP 1,150,000 148,815 1,001,185 660-9-0581-90-220 LIFT STATION UPGRADE 550,000 2,835 547,165 WATER SERVICES Total 85,667,940 28,845,463 56,822,477 Grand Total 153,224,434 64,356,836 88,867,598 63 Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 6/30/19 Status Updates ‐ 9/30/19Cemetery Special Revenue FundCurrently 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 since FY 2016.Continue to request the $75,000 be added to the reserves for future maintenance costs. There has been no change during this quarter.Unfunded Actuarial Accrued Liability (UAAL)Recognizes the outstanding liability for the City’s employee retirement plan through TMRS.  The City contributes monthly to fund the UAAL, based on an annual percentage of payroll. Actual % of payroll costs is recognized within each fund. The UAAL is provided by TMRS and lags one year.As of 12/31/2017, the net pension liability (NPL) is $17.3 million and is 87.8% funded.  The 2019 TMRS total combined contribution rate is 12.36%.As of 12/31/2018, the net pension liability is $22.3 million and is 85.6% funded. The 2020 total combined contribution rate is 12.26%. This decrease is due to a decrease in payroll growth. 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 self insurance fund, which then processes their health insurance claims.   This is an actuarial calculation based on current and futureemployees on future City health insurance costs and Life insurance benefits, which has numerous and complex factors in its calculation. Retirees pay their own premiums, and thus the liability is considered “pay as you go”. With additional employees being added, potential future retiree impacts increase. The 2018 current OPEB liability is$2,182,012 for healthcare benefits and $1,091,292 for Life insurance benefits.No change. Staff will review the 2019 OPEB calculation and present it with the audited financial statements.Compensated AbsenceFuture costs associated with benefits such as vacation, and sick leave for City employees. Compensated Absence is accrued annually to each proprietary fund type on a GAAP basis and accounted for on the balance sheet of each fund. For governmental funds (and for budgetary basis), the expense is recognized when due and payable.  The current amount of the Benefit Payout Reserve is $255,000.   Will be updated when FY 19 audit is completed.Electric Fund Rate Stabilization ReserveIntended to mitigate potential rate impacts due to increased fuel costs or other external factors. The RSR is maintained within the Electric Fund. The PCA was increased in June of 2019 to recover additional costs for purchased power. The 90 day contingency reserve is projected to be met at the end of FY2019. The June PCA is scheduled to remain in effect during the FY2020 budget. Purchased Power prices continued to affect the fund balance. The City sold several assets as detailed in the Executive Summary of this report in order to improve cash flow and begin to recover the rate stabilization reserve. The City is on track to approve a contract in December to manage the power portfolio in FY2020. The June PCA will remain in effect in FY2020.CITY OF GEORGETOWNLong-term Commitments, Reservations, and Other Unfunded LiabilitiesSeptember 30, 201964 Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 6/30/19 Status Updates ‐ 9/30/19Airport MaintenanceFund 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. There is a new paving project that will begin the last week of August.  Terminal Drive was paved in late August 2019.  That is the only paving project that I know of here.  We did have the runway rehab project, but that was a TxDOT/FAA funded project.Americans with Disabilities Act (ADA) Compliance NeedsAs 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.No change.There are currently no changes to the ADA plan.  Sidewalk Maintenance & MasterplanCurrently, 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. Debt funded projects:  Old Town NE Sidewalk – Approval has been received from TCEQ. Design is completed.  All easements have been secured. Bid opening held on July 16th. GTAB approved award to Choice Builders on August 9th. City Council will consider award on August 27th 2019. Austin Ave Sidewalks (Leander to Hwy 29) – Patin Construction has installed all sidewalk and pedestrian ramps throughout the project. Contractor is completing steel plate work in 3 areas and working to have pedestrian activated signs installed at 16th and Austin Ave. All striping work is being scheduled.Debt funded projects:  Old Town NE Sidewalk – GTAB approved award to Choice Builders on August 9th. City Council approved award on August 27th 2019. Notice to proceed issued for 10‐7‐19, groundbreaking held on 10‐8‐19. Contractor has begun working on the est end of the project near Southwestern University.  Austin Ave Sidewalks (Leander to Hwy 29) – Patin Construction has installed all sidewalk and pedestrian ramps throughout the project. Striping work and pedestrian signs are in place. Contractor addressing punch list and TDLR review items in October. Project to close out end of October to Mid November.Park Equipment Maintenance & ReplacementOver 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.Projects in the FY 19 budget continue to be underway.  There is an increase of $97,000 proposed for the FY 20 budget to help fund the projects identified for 2020.Asset replacement needs for FY20 totaled $394K.  Funding was received through the budget process for $297K leading to $97K being deferred to a future year.  Radio Equipment ReplacementCommunication system consisting of 500 on‐body and in‐vehicle radios for Police, Fire, parks and utilities. Replacement radios are compatible with newer technology.  The replacement takes place over 5 years due to cost and is funded with certificate of obligation debt. Radios ordered on 7/17/19. On 8/12 and 8/13, we received three pallets of radio equipment. Asset management process has begun. The T1 to Ethernet conversion is scheduled to be completed by 9/15. NICE Recording Solution has a longer implementation process. The goal is to have the installation completed by 12/31/19.  The first payment of $867,334.90 is being made October 17th.  The FY2020 budget includes $129,000 for year 4 of the project. 65 Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 6/30/19 Status Updates ‐ 9/30/19Street MaintenanceThe 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.The Hot In Place Asphalt recycling is currently on‐going in the Old Town Area should be complete next week, then the Hot In Place Asphalt recycling will move out to Berry Creek.   In regards to the High Performance Sealant Projects, application of the sealant has started in University Park and Raintree Subdivisions.  The contractor should start in Sun City on Monday, August 19th and then application of the sealant will begin the 1st week of September in Georgetown Village. Hot In Place Recycling (HIPR) is scheduled for Berry creek Subdivision and Park View estates in FY 2020. High Performance Surface Seal is scheduled for Sun City, Park View Estates subdivisions and areas near San Gabriel Park FY 2020.66