HomeMy WebLinkAboutORD 2019-81 - FY2019 Budget Year EndORDINANCE NO.
AN ORDINANCE OF THE CITY OF GEORGETOWN, TEXAS, AMENDING
THE 2019 ANNUAL BUDGET FOR YEAR-END OBLIGATIONS THAT WERE
NOT KNOWN AT THE TIME THE BUDGET WAS ADOPTED,
APPROPRIATING THE VARIOUS AMOUNTS THEREOF, AND REPEALING
ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT
THEREWITH.
WHEREAS, the City has available revenues and ending Fund Balances in the Fleet,
IT, South Georgetown Tax Increment Reinvestment Zone, Rivery Tax Increment
Reinvestment Zone, Transportation, PEG, Electric and Water funds for Fiscal Year 2019; and
WHEREAS, the City is aware of obligations not currently funded in the fiscal year 2019
Budget in the following funds: Fleet, IT, South Georgetown Tax Increment Reinvestment
Zone, Rivery Tax Increment Reinvestment Zone, Transportation, PEG, Electric and Water;
and
WHEREAS, the changes were unknown and unforeseeable at the time the fiscal year
2019 budget was approved; and
WHEREAS, the City Charterand State law allows for changes in the Annual Operating
Plan by a Council majority plus one in emergency situations and for municipal purposes;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1.
The facts and recitations contained in the preamble of this ordinance are hereby found
and declared to be true and correct, and are incorporated by reference herein and expressly made
a part hereof, as if copied verbatim.
SECTION 2.
The amendment to the 2019 Annual Budget of the revenues of the City of Georgetown and
expenses of conducting the affairs thereof, is in all things adopted and approved as an addition
to the previously approved budget of the current revenues and expenses as well as fixed charges
against said City for the fiscal year beginning October 1, 2018 and ending September 30, 2019.
A copy of the amendment is attached hereto as Exhibit "A" incorporated by reference herein.
SECTION 3.
The total of $8,030,439 is hereby released from appropriation for payments of expenditures
and payments of the funds and included in the Exhibit "A".
SECTION 4
All ordinances and resolutions, or parts of ordinances and resolutions, in conflict with this
Ordinance are hereby repealed, and are no longer of any force and effect. This ordinance
complies with the vision statement of the Georgetown 2030 Plan.
SECTION 5.
If any provision of this ordinance or application thereof to any person or circumstance, shall
be held invalid, such invalidity shall not affect the other provisions, or application thereof, of this
ordinance which can be given effect without the invalid provision or application, and to this end
the provisions of this ordinance are hereby declared to be severable.
SECTION 6.
The Mayor is hereby authorized to sign this ordinance and the City Secretary to attest. This
ordinance shall become effective upon adoption of its second and final reading by the City Council
of the City of Georgetown, Texas.
PASSED AND APPROVED on First Reading on the 26th day of November, 2019.
PASSED AND APPROVED on Second Reading on the 10th day of December, 2019.
ATTEST:
R byn D nsmore
City Secretary
APP AS TO FO
Charlie McNabb
City Attorney
THE CITY F GEORGETOWN:
By: Dale Ross
Mayor
mrating Revenues
Currenl Ooeralino Revenue
rerating Expenses
Current Operating Expenses
CRR Credits
Purchased Power
Transfer Out - ROI
Exhibit A - Budget Amendment
Impact of This
2019 Approved 2019 Amended
Budaet Action/CAFR Budget
$ 19,337,779 $ (440,251) $
$ (3,000,000) $ 178,241 $
$ 53,185,477 $ 5,280,082 $
$ 4.325.000 $ (500.000) $
Non -Operating Revenues
Grant Revenue
S
100,000 $
(100,000) $
Transfer In
S
548,104 $
1.647.905 $
Sale of Assets - Scrap material
$
10,000 $
10,340 $
Sale of Asset - Fleet
$
5
481,927 $
Sale of Asset - WSSC
$
$
356,895 $
Sale of Asset - Fiber
$
- $
645.045 $
Renewable Enerov Credits
$
$
722,381 $
Non -Operating Expenses
CIP
$
4,017,007 $
(159,842) $
Current Debt Service
$
4,422,155 $
500 $
Interest Expense - Reimbursement from Water
$
- $
(305,234) $
Principal Expertise - Reimbursement from Water
$
$
(470.000) $
Talon-Ooeratino Expenses
S
8.439.162 E
f934.5761 S
Rate Stabilization S 147.079 S 2.1
10 - Electrvc Fund
There are several proposed amendments in the Electric Fund both on
the revenue and expense accounts. The purchased power budget
85.677.807 must be amended to $58,465,559 and the CRR Credits be amended
8 to $-2,821,759. This is a result of increased costs for purchase
power and transmission of purchased power. The following actions
mitigate these increased costs. First, staff proposes to sell land
18,897,528 owned by the Electric fund to the Fleet Fund. This site on FM1460 will
(2,821,759) be the future home of the Fleet Services Shop identified in the
58,465,559 facilities study. The land sale totals $481,927. There is a
3.825.000 corresponding amendment in the Fleet Fund.
Next, staff proposes the Water Fund purchase the Electric Fund's
portion of the Westside Service Center as well as reimburse the debt
service payments made for the facility in the past. The purchase of
2.196,009 the building totals $356,895, while the previously paid debt service
20,340 principal and interest totaled $470,000 and $305,234 respectively.
481,927 The Water Fund will also assume the remaining liability on the facility,
356,895 shown as $1,562.500 under non -operating transfers in.
645,045 The third proposed amendment is to increase the transfer amount
722 381 from the South Georgetown TIRZ Fund tot the Electric Fund by an
additional $85,405 for capital infrastructure investment from previous
fiscal years. This is also under non -operating transfer in.
Fourth, the amendment proposes selling a portion of the City's fiber
3,857,165 network owned and operated by Electric to the IT Fund for $645K. A
4,422,655 multi -year plan will be developed to sell the remainder to IT and
(305,234) allocate costs to all using departments.
470,000 Other amendments include recognizing utility revenue ($12M),
7 504,586 decreasing operating expenses ($440K), decreasing the Return on
3 3,47 Investment transfer to the General Fund ($500K), recognizing not
moving forward with the Bloomberg Grant ($100K), selling Renewable
2,250,413 Energy Credits in the amount of $722K, selling scrap material for an
additional $10K, increasing debt service expense by $500 to account
A n2l 000 'for handling fees, and decreasing capital project expense by $160K.
2019 Approved
Impact of This
2019 Amended
Budget
9
Action/CAFR
Budget
Adjustment
263 - PEG Fun
Beginning Fund Balance
$
-
$ 17,653
$ 17,653
The proposed amendment in this fund is to recognize additional
available beginning fund balance from FY2018, and $8.374 of
Revenues
additional PEG Fee revenue of $6,933 and interest of $1,441 to offset
PEG Fee Revenue
$
160,000
$ 6,933
$ 166,933
expense overages that total $422 for minor communications
Interest
$
$ 1,441
$ 1.441
equipment.
'Total Revenues $ 160,000 $ 8,374 S
168,374
Expenses
PEG Fee Expenditure
$
20,000
$ 422
$ 20,422
'Total Ex enses $ 20.000 $ 422 $
20.422
Ending Fund Balance $ 140,000 $ 25,605 S
165,605
Available Fund Balance 5 140,000 $ 25,605 $
165.605
2019 Approved
Impact of This
2019 Amended
Budget
ActionlCAFR
Budget
'us met
294 - Rivery TIRZ Fund
Beginning Fund Balance
$
209,626
$ 5,200
$ 214,826
The proposed amendment in this fund is to recognize additional
$5,200 of available beginning balance from FY2018, and $43,375 of
Revenues
additional revenue to offset $817 of debt service charges that should
Tax Revenue
$
375,981
$
$ 375,981
have been included in the original FY2019 Budget.
County Partnership
$
275,000
$ 41,206
$ 316,206
Interest
$
1.500
$ 2,169
$ 3,669
'Total Revenues $ 652,481 $ 43,375 3 695,856
Expenses
Transfer for Debt Service
$
591.768
$ 817
$ 592.585
Ending Fund Balance $ 270.339 $ 47,758 S 318,097
Available Fund Balance $ 270,339 $ 47,758 $ 318,097
2019 Approved
Impact This
2019 Amended
Budget
9
CAFR
Adjustment
Budget
9
Adjustment
281 - Transportation Fund
Beginning Fund Balance
$
(83,188)
$ 63,295
$ (19,893)
This fund serves as a special revenue pass through for the part ofthe
Revenues
Southwest Bypass Project in partnership with the County. To close
County Reimbursement
$
83,188
$ (51.683)
$ 31,505
out the project, staff expensed an additional $10,820 that was not
budgeted in 2019. The City is working with the County to recover the
receivable for completed work and then will close out the fund. Any
Total Revenues $ 83.188 $ (51,683) S
31,505
Expenses
remaining fund balance will be moved into the General Capital
Southwest Bypass Project
$
-
$ 10,820
$ 10,820
Projects fund with the rest of the phases of the Southwest Bypass
project.
Total Expenses $ $ 10,820 S
10,820
Ending Fund Balance $ $ 792 $
792
Available Fund Balance S $ 792 $
792
2019 Approved
Impact of This
2019 Amended
Budget
Action/CAFR
Budget
Ad'ustment
296 South Geor etown TIRZ Fun
Beginning Fund Balance
S
237,186
$ -
$ 237,186
The proposed amendment in this fund is to recognize $85,405 of
.additional revenue from ad valorem taxes and allocated interest,
Revenues
Staff is proposing to transfer the additional revenue to the Electric
Property Tax
$
309,418
$ 80,295
$ 389,713
:Fund for reimbursement of capital improvement from previous fiscal
Interest
S
1.500
$ 5.110
$ 6,610
'years. At the mid -year amendment, a transfer of $548,104 was made
Ito Electric also for capital reimbursement
Total Revenues $ 310.918 $ 05.405 S
396.323
Expenses
Transfers
$
548,104
$ 85.405
$ 633,509
Total Expenses $ $0.104 ; 85,405 $
633,509
Ending Fund Batance $ - i. - S
-
2019 Approved
Impact of This
2019 Amended
Budget
Action/CAFR
Budget
Adjustment
520 -Fleet Fun
Beginning Fund Balance
$
4,760,280
$ 28,736
S 4,789,016
This amendment is the corresponding transfer out from the Fleet
Fund to the Electric Fund to purchase land on FM1460 for a future
Revenues
Fleet Services Shop identified in the facilities assessment. The
Current Fleet Revenue
$
6,238,717
$ -
$ 6,238,717
amendment uses available fund balance in the Fleet Fund.
Interest
$
-
S -
5
Total Revenues S 6,238,717 5 $
6,238,717
Expenses
Current Fleet Expenses
$
6,714,072
$ -
$ 6.714.072
Purchase of Land
$
$ 481,927
$ 481,927
Total Expenses S 6.714.072 $ 481.927 S
7.195.999
a
S 479,322 S
S 2,750,003 $ (453,191
2019 Approved
Impact of This
2019 Amended
Budget
9
Action/CAFR
Budget
Ad'ustment
0 - IT Fund
Beginning Fund Balance
$
2,732,490
$ -
$ 2,732,490
The amendment recognizes additional interest earnings in the IT
Fund. Staff is proposing selling a portion of the fiber network owned
Revenues
by Electric to the IT Fund. This transaction would purchase all the
IT Fees
$
6,845,851
$
$ 6,845,851
fiber infrastructure installed by electric from 2003 to 2011 at a cost of
Transfers
$
115,000
$
$ 115,000
$645,045. In FY2020, staff will create a multi -year plan to transfer the
Interest
$
6,000
$ 45,582
$ 51,582
remainder of the shared asset to the IT Fund and allocate back
operating and maintenance expenses.
Total Revenues $ 6,966,851 S 45,5132 S
7,012,433
Expenses
Personnel and Operations
$
6,546,619
$
$ 6,546,619
Capital
$
706.450
$ 645,045
$ 1,351,495
Transfers
$
376.500
$
$ 376.500
Total Expenses S 7.629.569 S 645.045 S
8.274.614
744 S
..............
Available Fund Balance
2019 Approved
Impact of This 2019 Amended
Budget
ActionlCAFR
Budget
Adjustment
660-Water Fun
Beginning Fund Balance
$
89,159,703
$ (31,169) $ 89,128,534
Staff is proposing the Water Fund purchase the Electric Fund's
portion of the Westside Service Center. The amendment to the
Operating Revenues
Water Fund includes recognizing revenue in the amount of $8.2M for
Current Operating Revenue
$
59,719.104
$ 8.158.943 $ 67.878.047
water sales to customers, charges to customers, and development
fees. Expenses are amended to reimburse Electric $470,000 for
previously paid principal and $305,234 in previously paid interest
Total Operating Revenues S 59,719,104
$ 8,158,943 $ 67.878,047
Operating Expenses
Additionally, the Water Fund will reimburse the Electric Fund
Current Operating Expenses
$
37.432,854
$ - $ 37.432.854
$356,895 for the cash portion used to construct the West Side
Service Center. The proposed amendment transfers the remaining
debt liability of $1.5M from the Electric Fund to the Water Fund.
Total Operating Expenses S 37,432,854
$ $ 37.432 854
Non -Operating Revenues
Finally, the conservation allocation is amended by $528K to recognize
Current Non -Operating Revenues
$
$
costs of conservation programs that primarily benefit water use.
:Tntal Nnn-Onerarina ttevnmmn S -
S 4
1Non-Operating Expenses
Current Non -Operating Expense
Transfer Out - WSSC
Purchase of Asset - WSSC Cash Portion
Interest Expense - WSSC
Principal Expense - WSSC
Reallocation of Conservation
Fund Balance
.Available Fund Balance
Total Amended Expense Appropriation
$ 91,918,051 $
$ 91,918,051
$ - $
1,562,500
$ 1,562,500
$ $
356,895
$ 356,895
$ $
305,234
8 305,234
$ $
470,000
$ 470,000
$ $
527,878
$ _ 527,878
$ 91.918.051 $
3.222.507
$ 95.140.558
5 19.527.902 $ 4,905,267 $ 24,433,169
S 7,498,183 S - S 7,498,183
$ 9,500.000 $ $ 9.500.000
5 2,529,719 6 4,905,267 S 7,434,986
$ 8,030,439