HomeMy WebLinkAbout2nd_Qtr_Report_FY2020FY2020 BUDGET
AND FIVE YEAR CAPITAL IMPROVEMENT PLAN
G e o r g e t o w n : A c a r i n g c o m m u n i t y h o n o r i n g
o u r p a s t a n d i n n o v a t i n g f o r t h e f u t u r e
Quarterly Report
FINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended March 31, 2020
Table of Contents
Executive Summary .......................................................................................................................................... 1
General Fund Schedule .................................................................................................................................... 7
Electric Fund Schedule ..................................................................................................................................... 8
Water Services Fund Schedule ........................................................................................................................ 9
Airport Fund Schedule ................................................................................................................................... 10
Convention & Visitors Bureau Fund Schedule ............................................................................................... 11
Council Discretionary Fund Schedule ............................................................................................................ 12
Georgetown Economic Development Corporation Fund Schedule .............................................................. 13
Georgetown Transportation Enhancement Corporation Fund Schedule ..................................................... 14
Joint Services Fund Schedule ......................................................................................................................... 15
Quarterly Investment Report ‐ City ............................................................................................................... 16
Quarterly Investment Report ‐ GEDCO .......................................................................................................... 40
Quarterly Investment Report ‐ GTEC ............................................................................................................. 46
Grant Activities ............................................................................................................................................... 52
Long‐term Commitments and Other Unfunded Liabilities ............................................................................ 53
F FY2020 Quarterly Report
EXECUTIVE SUMMARY FOR THE QUARTER ENDED MARCH 31, 2020
Each year the City amends the budget for multi‐year capital projects, as well as operational changes that
were not known at the time the budget was adopted. This 2nd quarter report reflects the “Roll Forward”
budget amendment that affected many major funds. The Rollforward amendment was adopted in January
2020. The Mid‐Year Amendment will be adopted in June and will be reflected in the 3rd Quarter Report. Also,
a fuller picture of the financial impact of COVID will be seen in the 3rd Quarter Report since April is presumed
to be the most impacted month. The most up to date information on economic effects of COVID have been
presented to Council during workshops in April and May.
I. QUARTERLY FINANCIAL ANALYSIS
GENERAL FUND REVENUES:
Year to date, General Fund revenues total $43.6 million, or 57.9% of budget through the second quarter.
Total revenues through the second quarter are 17.8% higher than FY2019.
Sales tax is the largest segment of revenue in the general fund. Sales tax revenue received through March
totals $6.36 million, or 35.6% of budget. Sales tax is two months in arrears. The second quarter returns
were 18.6% higher than through the 2nd quarter last year. The increase in sales tax revenue is the result of
continued growth in the City’s core sales tax sectors of retail, food, and information, as well as the opening
of new large retail businesses. Restaurants and bars closed their dining rooms on March 19th due to COVID‐
19. Visits data shows that traffic at may retailors also changed due to COVID. Since sales tax is two months
in arrears, the full effects of these closures are not yet known. Strong performance in the first half of the
fiscal year will help mitigate reduced sales in the second half of the year.
Property tax is the second largest revenue segment in the fund. Property tax revenue is typically received
during the first two quarters of the fiscal year, with most of the taxes being received in December and
January. Property tax revenue through the second quarter of FY2020 is up 9.7%, or $1.3 million from the
second quarter of FY2019.
Development related revenue continues to be very strong. Through the second quarter, development
related revenue totals $2.67 million, or 83.9% of budget. Development revenues through the second
quarter are 84.9% higher than FY2019. The City received a large Master Development Fee in the first
quarter which accounts for part of the significant increase. Despite COVID, the City is still seeing strong
performance in permits and inspections activity each month.
The increases seen in sales tax, property tax, and development fee revenue accounts for most of the
increase from the second quarter of FY2019 to the second quarter of FY2020.
Parks and Recreation revenue totals $1.2 million through the second quarter. This represents an increase
of 8.61% from the second quarter of FY2019. Through the second quarter, Parks and Rec revenues are at
42% of budget. Historically, Parks and Rec revenues skew more heavily to the spring and summer months.
The Recreation Center and City pools are expected to re‐open in June at 25% capacity. This revenue stream
will be monitored closely for the effects of COVID.
1
F FY2020 Quarterly Report
The City collects franchise fees for electric, natural gas, cable, and non‐cellular telephone services. Through
the second quarter, franchise fee revenues total $2.5 million in FY2020, an increase of 2.2% from the
second quarter of FY2019.
The City collects a Return on Investment (ROI) on the electric, water, and stormwater utilities. This revenue
sector totals $3.85 million through the second quarter, or 47.8% of budget.
Fire/EMS Revenue through the second quarter totals $3.5 million, or 48.9% of budget. This is another
section we will watch closely due to COVID, as there will likely be reduced number of transports to hospitals.
Sanitation revenue through the second quarter totals $5 million or 50.8% of budget.
Overall, general fund revenues through the second quarter are in line with budget. Staff are closely
monitoring the effects of COVID‐19 closures on sales tax, EMS, and Parks and Rec revenues.
GENERAL FUND EXPENDITURES:
Overall expenditures (personnel, operations, and capital) through the second quarter total $40 million, or
53.1% of budget. Total salaries and benefit expenditures through the second quarter total $22.7 million.
Operational costs total $15.2 million.
The table below excludes capital accounts (like street repair or transfers out for fleet purchases) and is used
to compare the personnel and operations costs year to year.
Generally, year over year increases are reflective of growth in new programs, and personnel costs for new
salaries and benefits as well as merit and market adjustments.
Personnel and Operations Summary (excludes capital accounts)
The Administration Services Division (Administrative Services, City Council, City Secretary, and Social Service
Funding) expenditures through the second quarter total $1.43 million, which represents 51.2% of budget.
Year‐to‐date expenditures for the Community Services (Parks and Rec., Library, and Communications) and
Finance Division (Municipal Court) total $6.9 million or 51.9% of budget.
Development and Planning expenditures through the second quarter total $1.71 million, or 56.2% of
budget. The planning department is experiencing higher than budget expenses related to Traffic Impact
Analyses (TIA). These TIAs are reimbursed by developers and staff has added this item to the mid‐year
budget amendment in which we increase both revenues and expenses.
The Public Works Division (Environmental Services, Public Works, and Streets) expenditures through the
second quarter total $5.9 million or 46.7% of budget.
Year‐to‐date expenditures for Public Safety total $19.57 million, which represents 51.6% of budget.
General Government Contracts includes the vacancy savings factor for the entire General Fund. This section
also includes the City’s social services funding contracts.
COMBINED EXPENSES FY2020 Budget
FY2020 YTD
Actuals
% of FY2020
Budget FY2019 Budget
FY2019 YTD
Actuals
% of
FY2019
Budget
Year‐to‐year
Variance
Year‐to‐year
% Variance
Personnel Expense 42,977,941 22,744,841 52.9% 39,744,389 19,210,761 48.3% 3,534,081 18.4%
Operations Expense 29,914,825 15,200,697 50.8% 28,613,268 13,652,218 47.7% 1,548,479 11.3%
TOTAL 72,892,766 37,945,539 52.1% 68,357,657 32,862,979 48.1% 5,082,559 15.5%
2
F FY2020 Quarterly Report
The City has experienced 13 of 26 pay periods through the second quarter, or 50% of total cycles.
Overall, General Fund expenditures are within budget and the fund can cover the 90‐day Contingency
Reserve.
UTILITY FUNDS:
Electric Fund: Electric operating revenues total $41.9 million, or 46.15% of budget. Electric sales revenue,
the largest component of revenue, totals $37.7 million, or 44% of budget through the first two quarters.
Electric revenue sales are typically higher in the summer months when consumption increases. Operating
expenses total $40 million through the first two quarters, or 47.4% of budget. Purchased Power expenses
total $27.3 million, or 44.4% of budgeted Purchase Power expenses.
Non‐operating revenue is budgeted at $4.5 million. Year to date, non‐operating revenues total $393,495,
mainly from Renewable Energy Credits. Bond proceeds for capital projects are not received until the 3rd
Quarter. Non‐operating expenses are budgeted at $8.1 million. Year to date, expenses total $1 million for
capital improvement projects.
Water Fund: Overall operating water revenue totals $40.2 million, or 64.7% of budget. Water, wastewater,
and irrigation sales revenue through the second quarter totals $20.6 million, or 46.3% of budget. Capital
Recovery Fees total $15.6 million. Over the past three years, the fund has seen higher than budget Capital
Recovery Fees due to the growth and new development in the City, including several significant one‐time
payments for large developments. Bond proceeds for debt‐funded capital projects will be received in the
3rd quarter.
FY2020 Budget
FY2020 YTD
Actuals
% of FY2020
Budget FY2019 Budget
FY2019 YTD
Actuals
% of
FY2019
Budget
Year‐to‐year
Variance
Year‐to‐year
% Variance
Expenditure
Administrative Services
Personnel Expense 2,197,819 1,077,904 49.0% 1,941,881 989,098 50.9%88,806 9.0%
Operations Expense 593,378 351,724 59.3%663,827 302,500 45.6%49,224 16.3%
Administrative Services Total 2,791,197 1,429,627 51.2% 2,605,708 1,291,598 49.6%138,030 10.7%
Community Services and Finance
Personnel Expense 7,741,091 3,776,167 48.8% 7,156,124 3,269,030 45.7%507,137 15.5%
Operations Expense 5,432,479 3,062,853 56.4% 5,228,877 2,454,921 46.9%607,932 24.8%
Community Services and Finance Total 13,173,570 6,839,019 51.9% 12,385,001 5,723,950 46.2% 1,115,069 19.5%
Development & Planning
Personnel Expense 2,446,509 1,277,956 52.2% 2,308,625 1,041,235 45.1%236,721 22.7%
Operations Expense 603,820 437,187 72.4%714,668 167,704 23.5%269,482 160.7%
Development & Planning Total 3,050,329 1,715,142 56.2% 3,023,293 1,208,939 40.0%506,204 41.9%
Fire Services*
Personnel Expense 16,051,814 8,598,639 53.6% 15,104,380 7,072,283 46.8% 1,526,356 21.6%
Operations Expense 4,131,210 1,835,872 44.4% 3,661,475 1,961,613 53.6%(125,742) ‐6.4%
Fire Services Total 20,183,023 10,434,510 51.7% 18,765,854 9,033,896 48.1% 1,400,614 15.5%
General Gov't Contracts
Personnel Expense (1,200,000) 30 0.0% (1,145,000) ‐ 0.0%30
Operations Expense 4,461,450 2,451,655 55.0% 4,436,401 2,445,447 55.1%6,207 0.3%
General Gov't Contracts Total 3,261,450 2,451,684 75.2% 3,291,401 2,445,447 74.3%6,237 0.3%
Public Works & Environmental Services
Personnel Expense 1,888,823 779,371 41.3% 1,875,598 879,587 46.9%(100,217) ‐11.4%
Operations Expense 10,815,154 5,159,417 47.7% 10,275,620 4,569,949 44.5%589,468 12.9%
Public Works & Environmental Services Total 12,703,977 5,938,788 46.7% 12,151,218 5,449,537 44.8%489,251 9.0%
Police Services
Personnel Expense 13,851,885 7,234,777 52.2% 12,502,781 5,959,529 47.7% 7,234,777 21.4%
Operations Expense 3,877,334 1,901,991 49.1% 3,632,400 1,750,084 48.2%151,907 8.7%
Police Services Total 17,729,219 9,136,768 51.5% 16,135,181 7,709,613 47.8% 1,427,155 18.5%
Expense Total 72,892,766 37,945,539 52.1% 68,357,657 32,862,979 48.1% 5,082,559 15.5%
3
F FY2020 Quarterly Report
Water operating expenses total $22.9 million, or 54% of budget. Non‐operational expenses total $27.7
million. These non‐operational expenses are capital improvement projects that normally span multiple
years.
OTHER MAJOR FUNDS:
Convention & Visitors Bureau Fund: Hotel Occupancy Tax revenue totals $570,401 through the second
quarter of FY2020, or 43.9% of budget. It is anticipated this revenue stream will be highly impacted by
COVID in the third and fourth quarters. Year to date expenses in the Convention & Visitors Bureau Fund
total $770,898, or 53.5% of budget. The fund’s large reserves will help mitigate the impact.
Airport Fund: Airport operating revenues total $1.71 million which represents 44% of budget. Typically, the
City of Georgetown has a Bond Sale to sell debt annually in the spring. However, due to the market
disruptions, the City deferred airport maintenance facility project and will not issue the debt in FY2020.
This will be reflected in the Third Quarter Report and mid‐year budget amendment. The largest revenue
stream for the airport is fuel sales. Through the second quarter, fuels sales total $1.2 million, or 42.6% of
budget.
Operating Expenses in the Airport fund total $2.8 million, or 77.7% of budget. $2.2 million of the year to
date expenses is fuel related encumbrances. As part of the mid‐year budget amendment, staff is proposing
to reduce the CIP expense by $750,000 and move the maintenance facility project to FY2021.
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 second quarter of fiscal
year 2020 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) announced 2 changes in the Federal Funds
rate on March 3rd and March 16th related to the COVID‐19 pandemic. The current rate is 0% ‐ .25%. 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 increased due to sales tax and property tax receipts.
The Investment Reports for the quarter ending March 31, 2020, 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 March 31, 2020, 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). Included in the City portfolio are debt service, consolidated funds, and bond proceeds. The breakdown is
consolidated at 69%, debt service at 7%, and bond proceeds at 24%.
CITY Book Value
GTEC GEDCO
12/31/19 3/31/20 12/31/19 3/31/20 12/31/19 3/31/20
Total cash and investments $204,262,741 $220,738,220 $21,571,214 $23,202,700 $8,602,528 $9,011,792
Average Yield 1.90% 1.41% 1.95% 1.23% 1.64% 1.26%
4
F FY2020 Quarterly Report
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.
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 meet the safety requirements
of the PFIA. Local Government Investment Pools must maintain a rating of AAAm, Securities (Treasury Bills) must have
direct or implied backing of the Federal Government and Financial Institution Deposits (CDs and money market
accounts) must be collateralized with FDIC insurance or obligations with 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 the City’s investments. All
securities 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.
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 normally included in the quarterly report. However, staff
is still developing this report in the new financial system.
Fire Station No. 6 and 7: The building is dried in and interior finishes have begun. Substantial completion
is scheduled for Mid‐June.
The Braun Elevated Storage Tank, a 3 Million gallon a day tank, is scheduled for completion May 2020. Filing
started on May 10th and scheduled to be put in service on May 15th.
The Lake Water Treatment Plant Raw Water Pump Station improvements continue. Nine 24‐inch slide gates
to increase the max flow for plant buildout are being installed. This project is scheduled for completion in
2020. Inservice will need to complete final clean up.
Enterprise Resource Planning software: Phase I HR/Payroll functionality went live in September of 2019.
Phase II Financials went live the first week of April 2020. This phase includes accounting, banking,
procurement, and other core financial functions. Staff is currently scoping Phase III, the budget
development functionality, to start in August 2020.
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 July 2020. CR 255 has been on
hold. The Reagan 30‐inch waterline was moved up in priority and was completed in June of 2019.
5
F FY2020 Quarterly Report
ADA Park Improvements: Bid documents to repair sections of the San Gabriel River trail system are
currently being reviewed by the Purchasing Department. Once the review is complete, the project will be
bid. Bidding is estimated to be completed in June 2020 with construction beginning in August 2020.
Parks and Recreation Master Plan: A draft request for proposal has been completed pending review by
Purchasing and Legal. This project is currently on hold due to funding limitations related to the Covid‐19
pandemic.
Neighborhood Park Development: This project consists of improvements to Heritage Gardens. Planning
was underway including a design task order. A public input meeting was scheduled for March 2020 but
was cancelled due to Covid‐19. This project is currently on hold due to funding limitations related to the
Covid‐19 pandemic.
Trail Development: This project consists of construction of an approximate .75‐mile trail along the San
Gabriel River at Wolf Crossing. A design task order has been approved by council. A preliminary design
layout has been completed. This project is currently on hold due to funding limitations related to the Covid‐
19 pandemic.
San Gabriel Park Phase 3: This project consists of improvements to San Gabriel Park including outdoors
green space, restroom facilities, pavilions, skate park, and a splash pad plaza. A design task order and
survey have been completed. This project is currently on hold due to funding limitations related to the
Covid‐19 pandemic.
Tennis Center Pool Demolition: This project is currently on hold due to funding limitations related to the
COVID‐19 pandemic.
6
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 11,490,900 11,490,900
Revenue
Administrative Charges 2,707,730 226,478 1,358,865 2,707,730
All Other Revenue 2,638,420 129,383 1,740,495 2,638,420
Development and Permit Fees 3,179,250 640,549 2,667,015 3,179,250
Franchise Fees 5,890,270 268,948 2,508,663 5,890,270
Parks and Recreation 2,833,100 289,447 1,208,245 2,833,100
Property Tax 14,900,000 247,351 15,119,538 14,900,000
ROI 8,060,000 716,888 3,856,389 8,060,000
Sales Tax 17,861,875 1,285,760 6,363,461 17,861,875
Sanitation Revenue 9,933,450 843,212 5,047,552 9,933,450
Fire and EMS Revenue 7,176,152 1,509,535 3,506,927 7,176,152
Transfer In 303,634 - 303,634 303,634
Revenue Total 75,483,881 6,157,551 43,680,784 75,483,881
Expense
Administrative Services 1,794,305 201,157 913,829 1,794,306
Animal Services 973,517 124,852 502,493 973,518
Arts & Culture 36,729 7,000 15,705 36,729
City Council 177,608 12,840 83,315 177,608
City Secretary 819,283 83,359 432,484 819,283
Code Compliance 524,382 47,565 217,290 524,383
Communications 684,453 45,605 259,555 684,453
Solid Waste & Recycling Services (Environmental Services)8,525,875 719,500 3,495,734 8,525,875
Community Services 265,732 44,853 97,469 265,732
Fire Emergency Services 14,280,663 1,593,599 7,341,305 14,280,663
Fire Support Services 3,120,344 474,585 1,945,400 3,120,345
Fire EMS 2,847,016 259,662 1,181,530 2,847,016
Garey Park 1,005,187 123,074 638,813 1,005,187
General Gov't Contracts 3,261,450 317,652 2,451,684 3,261,450
Inspections 1,347,040 147,536 683,243 1,347,040
Library 2,778,723 379,328 1,488,317 2,778,723
Municipal Court 664,063 64,820 348,959 664,063
Parks 2,726,868 304,014 1,603,166 2,726,868
Parks Admin 620,893 105,618 334,568 620,893
Planning 1,703,290 231,617 1,031,899 1,703,290
Police Admin 2,427,662 441,130 1,245,700 2,427,662
Police Operations 13,821,657 1,660,847 7,186,526 13,821,657
Public Works 1,469,053 126,659 617,645 1,469,053
Rec Programs 1,359,138 75,916 480,966 1,359,138
Recreation 2,753,284 401,532 1,406,267 2,753,284
Streets 4,400,037 690,805 3,386,409 4,400,037
Tennis Center 460,794 49,965 200,478 460,794
Transfer Out 524,860 - 457,860 524,860
Expense Total 75,373,906 8,735,090 40,048,609 75,373,910
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 109,975 (2,577,539) 3,632,175 109,971
ENDING FUND BALANCE 109,975 (2,577,539) 3,632,175 109,971
RESERVES
Contingency Reserve 11,200,000 11,200,000
Benefit Payout Reserve 340,000 340,000
Reserve Total 11,540,000 11,540,000
AVAILABLE FUND BALANCE 60,875 60,871
Year-End Projection to Approved: March FY2020
General Fund
7
FY2020 BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR‐END
PROJECTION
BEGINNING FUND BALANCE 5,892,640 5,892,640
Operating Revenue
Electric Revenue (SEE NOTE A)85,509,803 5,870,142 37,702,206 85,509,803
Interest 40,000 79 3,700 40,000
Other Revenue 4,748,616 1,056,003 2,447,328 3,098,616
Developer Contributions 600,000 135,883 1,793,905 2,000,000
Operating Revenue Total 90,898,419 7,062,107 41,947,139 90,648,419
Operating Expenditures
CRR Credits, Net (2,000,000) 281,850 (353,165) (2,000,000)
Georgetown Utility Systems 20,465,330 1,909,979 10,790,607 20,167,271
Purchased Power 61,500,000 4,531,469 27,287,661 61,500,000
Transfers Out‐ROI 4,500,000 398,660 2,328,608 4,500,000
Operating Expenditures Total 84,465,330 7,121,958 40,053,711 84,167,271
Total Net Operations 6,433,089 (59,851) 1,893,428 6,481,148
Non‐Operating Revenue ‐ ‐ ‐ ‐
Renewable Energy Credits ‐ 166,751 382,959 382,959
Grant Revenue ‐ ‐ ‐ ‐
Bond Proceeds 4,010,000 ‐ ‐ 4,010,000
Sale of Property 10,000 49 10,536 10,000
Transfer In‐Other 500,000 ‐ ‐ 500,000
Non‐Operating Revenue Total 4,520,000 166,800 393,495 4,902,959
Non‐Operating Expenditures
CIP 4,010,000 110,908 1,030,860 4,010,000
Debt Service 2,866,312 ‐ 350 2,866,312
Interest Expense 1,224,183 ‐ 590,621 1,224,183
Non‐Operating Expenditures Total 8,100,494 110,908 1,621,831 8,100,494
Total Net Non‐Operations (3,580,494) 55,892 (1,228,336) (3,197,535)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS 2,852,595 (3,959) 665,092 3,283,612
ENDING FUND BALANCE 8,745,234 9,176,252
Contingency 4,190,234 4,190,234
Rate Stabilization Reserve 4,555,000 4,521,208
AVAILABLE FUND BALANCE 0 464,810
NOTES:
A. INCLUDES ACCRUAL FOR MARCH REVENUE BILLED THROUGH APRIL 30
Year‐End Projection to Approved: March FY2020
Electric Fund
8
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB) YEAR-END PROJECTION
BEGINNING FUND BALANCE 82,511,169 82,511,169
Operating Revenue
Capital Recovery Fee 14,250,000 4,664,467 15,563,761 14,250,000
Irrigation Utility Revenue 310,000 29,174 197,437 310,000
Other Revenue 3,450,300 864,706 4,064,813 3,450,300
Wastewater Utility Revenue 13,298,825 1,088,654 7,547,465 13,298,825
Water Utility Revenue 30,869,778 2,152,891 12,864,494 30,869,778
Operating Revenue Total 62,178,903 8,799,892 40,237,969 62,178,903
Operating Expenditures
Irrigation 395,450 22,432 151,232 395,450
Transfer Out 399,500 - 399,500 399,500
Transfer Out, ROI 3,300,000 291,913 1,395,304 3,300,000
Wastewater Operations 3,857,654 86,288 1,173,554 3,857,654
Wastewater Plant Management 2,537,076 345,923 2,159,009 2,537,076
Water Administration 23,176,352 2,323,380 12,558,884 23,176,352
Water Distribution 1,995,125 165,361 1,099,057 1,995,125
Water Operations 4,244,971 465,224 2,254,819 4,244,971
Water Plant Management 2,582,017 190,570 1,760,767 2,582,017
Operating Expenditures Total 42,488,144 3,891,092 22,952,126 42,488,144
Total Net Operations 19,690,759 4,908,800 17,285,844 19,690,759
Non-Operating Revenue
Bond Proceeds 18,600,000 - - 18,600,000
Grant Revenue - - - -
Interest 949,500 122,623 950,050 949,500
Sale of Assets 1,500 435,404 1,500
Transfer In-Debt 104,211 - - 104,211
Non-Operating Revenue Total 19,655,211 122,623 1,385,454 19,655,211
Non-Operating Expenditures
CIP 93,789,328 1,227,563 27,248,210 93,789,328
Interest Expense 983,227 19 514,747 983,227
Debt Service 2,394,188 - 1,225 2,394,188
Non-Operating Expenditures Total 97,166,743 1,227,582 27,764,182 97,166,743
Total Net Non-Operations (77,511,532) (1,104,959) (26,378,728) (77,511,532)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (57,820,773) 3,803,841 (9,092,885) (57,820,773)
ENDING FUND BALANCE 24,690,396 24,690,396
Contingency 8,236,379 8,236,379
Non-Operating Contingency 10,000,000 10,000,000
AVAILABLE FUND BALANCE 6,454,017 6,454,017
Year-End Projection to Approved: March FY2020
Water Fund
9
APPROVED
BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 1,451,988 1,451,988
Operating Revenue
Fuel and Terminal Sales 2,901,500 161,479 1,235,845 2,901,500
Interest and Other 51,000 1,361 12,566 51,000
Grant Revenue - - - -
Leases and Rentals 928,500 76,964 461,847 928,500
Operating Revenue Total 3,881,000 239,804 1,710,258 3,881,000
Operating Expenditures
Operations-Fuel 2,270,000 135,617 2,200,832 2,270,000
Operations-Non Fuel 878,327 109,215 392,163 878,327
Personnel 501,098 49,472 243,953 501,098
Operating Expenditures Total 3,649,425 294,304 2,836,948 3,649,425
TOTAL NET OPERATIONS 231,575 (54,500) (1,126,690) 231,575
Non-Operating Revenue
Bond Proceeds 750,000 - - 750,000
Non-Operating Revenue Total 750,000 - - 750,000
Non-Operating Expenditures
Buildings & Improvements 750,000 - - 750,000
Debt Service/Handling Fees 101,358 - 115 101,358
Interest Expense 60,062 - 29,638 60,062
Furniture & Equipment 22,000 - 8,111 22,000
Improvements 266,566 - 12,921 266,566
Pavement Upgrades 35,000 - - 35,000
Non-Operating Expenditure Total 1,234,986 - 50,785 1,234,986
Total Expenditures 4,884,411 294,304 2,887,733 4,884,411
TOTAL NET NON-OPERATIONS (484,986) (294,304) (50,785) (484,986)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (253,411) (348,804) (1,177,475) (253,411)
ENDING FUND BALANCE 1,198,577 1,198,577
RESERVES
Contingency 256,021 256,021
Debt Service Reserve 143,431 143,431
Reserves Total 399,452 399,452
AVAILABLE FUND BALANCE 799,125 799,125
Airport Operations Fund
Year-End Projection to Approved: March FY2020
10
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 1,437,144 - - 1,437,144
Revenue
Hotel/Motel Occupancy Tax Revenues 1,300,000 124,943 570,401 1,300,000
Interest 18,000 1,829 13,741 18,000
Other 18,500 995 11,152 18,500
Poppy Festival 144,283 43,269 85,276 144,283
Revenue Total 1,480,783 171,036 680,570 1,480,783
Expense
Operations 812,015 47,027 504,274 812,014
Personnel 413,567 49,810 225,672 413,567
Poppy Festival 186,700 12,050 12,318 186,700
Transfers Out 28,634 - 28,634 28,634
Expense Total 1,440,916 108,887 770,898 1,440,915
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 39,867 62,149 (90,328) 39,868
ENDING FUND BALANCE 1,477,011 (90,328) 1,477,012
Year-End Projection to Approved: MAR FY2020
Convention & Visitors Bureau Fund
11
APRROVED
BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 109,415 109,415
Revenue
Interest 2,500 133 1,052 2,500
Transfers In - - - -
Revenue Total 2,500 133 1,052 2,500
Expense
Transfers Out - - - -
Expense Total - - - -
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 2,500 133 1,052 2,500
ENDING FUND BALANCE 111,915 1,052 111,915
Year End Projections to Approved: March FY 2020
Council Discretionary Fund
12
APPROVED
BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR‐END
PROJECTION
BEGINNING FUND BALANCE 8,305,736 8,305,736
OPERATING REVENUES
Interest 76,000 7,038 65,465 76,000
Sales Tax 1,984,375 142,844 706,920 1,984,375
OPERATING REVENUES Total 2,060,375 149,882 772,385 2,060,375
OPERATING EXPENDITURES
Administrative Charges 244,771 20,398 122,385 244,771
Marketing ‐ 5,000 61,274 61,274
Contractual Services 30,000 ‐ 6,615 30,000
Miscellaneous Expense 50 10,972 2,493 2,500
Travel & Training 500 92 92 500
OPERATING EXPENDITURES Total 275,321 36,462 192,859 338,545
TOTAL NET OPERATIONS 1,785,054 113,420 579,526 1,721,830
NON‐OPERATING EXPENDITURES
Debt Service 291,364 ‐ 41,334 291,364
Interest Expense 20,516 20,516
Economic Development Agreements 510,000 ‐ 356,235 510,000
Strategic Partnerships 8,167,104 ‐ 143,674 143,674
CIP 290,000 290,000
NON‐OPERATING EXPENDITURES Total 9,278,984 ‐ 541,243 1,255,554
TOTAL NET NON‐OPERATIONS (9,278,984) ‐ (541,243) (1,255,554)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (7,493,930) 113,420 38,283 466,276
ENDING FUND BALANCE 811,806 38,283 8,772,012
Georgetown Economic Development Corporation Fund
Year‐End Projections to Approved: March FY2020
13
APPROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB) YEAR-END PROJECTION
BEGINNING FUND BALANCE 20,686,127 - 17,130,653
Operating Revenue
Sales Tax 7,937,500 571,375 2,827,678 7,937,500
Interest 230,000 25,102 213,571 230,000
Other Revenue - - - -
Operating Revenue Total 8,167,500 596,477 3,041,249 8,167,500
Operating Expenditure
Administrative Support 410,223 29,830 204,711 410,223
Operating Expenditure Total 410,223 29,830 204,711 410,223
TOTAL NET OPERATIONS 7,757,277 566,647 2,836,538 7,757,277
Non-Operating Revenue
Debt Proceeds 4,700,000 - - 4,700,000
Transfers In - - - -
Non-Operating Revenue Total 4,700,000 - - 4,700,000
Non-Operating Expenditure
Economic Development Agreements 1,984,375 - - 1,984,375
Strategic Partnerships 2,000,000 - - 2,000,000
CIP Expense 14,431,841 20,878 1,163,061 14,431,841
Debt Service 3,333,921 - 487,575 3,333,921
Non-Operating Expenditure Total 21,750,137 20,878 1,650,636 21,750,137
TOTAL NET NON-OPERATIONS (17,050,137) (20,878) (1,650,636) (17,050,137)
EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL
REQUIREMENTS (9,292,860) 545,769 1,185,902 (9,292,860)
ENDING FUND BALANCE 11,393,267 545,769 1,185,902 7,837,793
Georgetown Transportation Enhancement Corporation Fund
Year-End Projections to Approved: March FY2020
14
APRROVED BUDGET CURRENT PERIOD
YEAR TO DATE
(W/ENCUMB)
YEAR-END
PROJECTION
BEGINNING FUND BALANCE 1,394,842 1,394,842
Revenue
Administrative Charges 17,691,145 1,474,262 8,845,572 17,691,145
Interest 25,000 2,586 11,708 25,000
Other 103,000 29,487 123,299 103,000
Transfers In 295,059 - 295,059 295,059
Revenue Total 18,114,204 1,506,335 9,275,638 18,114,204
Expense
Accounting 1,128,153 151,475 614,213 1,128,153
Business System Sevices 1,198,892 121,776 628,812 1,198,892
Citywide Human Resources 1,307,900 18,579 702,567 1,307,900
Conservation 894,920 47,402 265,724 894,920
Customer Care 5,046,552 956,864 2,842,196 5,046,552
Economic Development 663,668 68,560 327,316 663,668
Finance Administration 1,161,128 77,237 644,865 1,161,128
Human Resources 1,446,884 182,988 655,058 1,446,884
Legal 1,063,008 104,627 553,233 1,063,008
Non-departmental 739,171 74,814 765,426 739,171
Organizational and Operational Excellence 329,898 33,680 130,684 329,898
Purchasing 923,989 116,349 465,657 923,989
Systems Engineering 2,492,992 271,234 1,345,955 2,492,992
Expense Total 18,397,157 2,225,585 9,941,706 18,397,157
EXCESS (DEFICIENCY) OF TOTAL REVENUE
OVER TOTAL REQUIREMENTS (282,953) (719,250) (666,068) (282,953)
AVAILABLE FUND BALANCE 1,111,890 (666,068) 1,111,890
Joint Services Fund
Year-End Projection to Approved: Mar FY2020
15
CITYQUARTERLY INVESTMENT REPORTFor the Quarter EndedMarch 31, 2020Prepared byValley View Consulting, L.L.C.The investment portfolio of the City of Georgetown is in compliance with the Public Funds Investment Act and the Investment Policy and Strategies.________________________________________________________________________ Elaine WilsonLeigh WallaceControllerFinance Director___________________________________ Karrie PursleyTreasurerDisclaimer: These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees.16
SummaryQuarter End Results by Investment Category:Asset TypeBook ValueMarket ValueBook ValueMarket ValueAve. YieldDemand Accounts8,947,165$ 8,947,165 10,852,258$ 10,852,258$ 0.23%NOW/MMA20,619,316 20,619,316 21,716,013 21,716,013 1.61%Pools89,853,153 89,853,153 104,846,720 104,846,720 0.97%CDs/Securities84,843,107 84,845,177 83,294,855 83,323,230 2.05%Totals 204,262,741$ 204,264,811$ 220,709,845$ 220,738,220$ 1.41% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.41%Total Portfolio 1.65%Rolling Three Month Treasury 1.17%Rolling Three Month Treasury 1.38%Rolling Six Month Treasury 1.39%Rolling Six Month Treasury 1.58%TexPool 1.00%TexPool 1.31% Bank Fees Offset 9,483$ Interest income provided in separate report.20,641$ December 31, 2019(1)Quarter End Average Yield - 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, pool, and money market balances.(2)Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis oraccount for advisory fees.Quarterly Bank Fees OffsetYear-to-date Bank Fees OffsetMarch 31, 2020Valley View Consulting, L.L.C.117
Economic Overview3/31/2020Due to COVID-19 pandemic concerns, the Federal Open Market Committee (FOMC) dramatically reduced the Fed Funds target range to 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%). Worldwide economic activity has collapsed because of Coronavirus "social isolation" and other related actions. The Yield Curve plummeted. Crude oil declined severely to less than $25 per barrel. Unemployment claims leaped to over 10 million. The Stock Market "corrected" into a full bear market. U.S. monetary and fiscal programs are designed to stabilize and improve near term economic conditions. Time will tell how long the pandemic lasts and full recovery takes.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,750S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.501.001.502.002.503.00Treasury Yield CurvesMarch 31, 2019December 31, 2019March 31, 20200.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.218
City - Investment HoldingsCoupon/ Maturity Settlement Face Amount/ Book Market Market Life DescriptionRatings Discount Date Date Par ValueValue PriceValue (Day)YieldJPMorgan Chase Cash (3)0.23% 04/01/20 03/31/20 10,852,258$ 10,852,258$ 1.00 10,852,258$ 1 0.23%JPMorgan Chase MMA0.07% 04/01/20 03/31/20 433,875 433,875 1.00 433,875 1 0.07%Veritex Bank MMA1.31% 04/01/20 03/31/20 3,205,333 3,205,333 1.00 3,205,333 1 1.31%NexBank MMA0.90% 04/01/20 03/31/20 7,337,623 7,337,623 1.00 7,337,623 1 0.90%Origin Bank MMA (4)2.25% 04/01/20 03/31/20 10,739,181 10,739,181 1.00 10,739,181 1 2.25%TexPoolAAAm 1.00% 04/01/20 03/31/20 38,781,634 38,781,634 1.00 38,781,634 1 1.00%TexSTARAAAm 0.96% 04/01/20 03/31/20 66,065,086 66,065,086 1.00 66,065,086 1 0.96% East West Bank CD2.62% 04/01/20 04/01/19 5,252,290 5,252,290 100.00 5,252,290 1 2.65%T-BillAaa/AA+ 0.00% 04/16/20 10/17/19 2,500,000 2,498,236 100.00 2,499,923 16 1.62%Southside Bank CD1.82% 04/17/20 10/18/19 2,514,336 2,514,336 100.00 2,514,336 17 1.83%LegacyTexas Bank CD2.91% 05/06/20 11/06/18 4,157,776 4,157,776 100.00 4,157,776 36 2.95%T-BillAaa/AA+ 0.00% 05/07/20 11/07/19 4,900,000 4,892,333 99.99 4,899,686 37 1.56%Southside Bank CD2.47% 05/11/20 05/10/19 3,056,381 3,056,381 100.00 3,056,381 41 2.49%BBVA Bank CD2.51% 06/20/20 06/20/19 4,076,022 4,076,022 100.00 4,076,022 81 2.54%East West Bank CD2.48% 07/15/20 04/15/19 5,121,021 5,121,021 100.00 5,121,021 106 2.51%East West Bank CD1.72% 08/04/20 02/04/20 6,518,552 6,518,552 100.00 6,518,552 126 1.73%R Bank CD2.10% 08/16/20 08/16/19 2,021,284 2,021,284 100.00 2,021,284 138 2.12%R Bank CD1.17% 08/16/20 02/26/20 1,010,897 1,010,897 100.00 1,010,897 138 1.17%LegacyTexas Bank CD2.66% 08/21/20 02/22/19 6,174,483 6,174,483 100.00 6,174,483 143 2.69%T-BillAaa/AA+ 0.00% 10/08/20 10/17/19 2,500,000 2,479,441 99.95 2,498,775 191 1.60%Independent Bank CD1.85% 10/18/20 10/18/19 2,511,652 2,511,652 100.00 2,511,652 201 1.86%Independent Bank CD2.56% 11/10/20 05/10/19 1,019,475 1,019,475 100.00 1,019,475 224 2.58%R Bank CD1.76% 11/19/20 02/19/20 2,500,000 2,500,000 100.00 2,500,000 233 1.78%Southside Bank CD1.72% 11/19/20 11/19/19 3,230,917 3,230,917 100.00 3,230,917 233 1.73%East West Bank CD1.71% 12/09/20 12/09/19 4,021,420 4,021,420 100.00 4,021,420 253 1.72%East West Bank CD1.71% 01/08/21 01/08/20 3,011,829 3,011,829 100.00 3,011,829 283 1.72%Independent Bank CD1.70% 02/05/21 02/05/20 3,100,000 3,100,000 100.00 3,100,000 311 1.71%R Bank CD1.81% 02/19/21 02/19/20 4,000,000 4,000,000 100.00 4,000,000 325 1.83%Bank OZK CD1.72% 02/26/21 02/27/20 6,007,921 6,007,921 100.00 6,007,921 332 1.73%Independent Bank CD1.80% 04/22/21 10/22/19 4,118,590 4,118,590 100.00 4,118,590 387 1.81%220,739,836$ 220,709,845$ 220,738,220$ 63 1.41%(1) (2)March 31, 2020(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.(4) Origin Bank MMA - Interest rate fixed until August 2020.(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.319
0–6 Months84%6–12 Months14%12–18 Months2%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 $225,000,000 $250,000,00006/30/19 09/30/20 12/31/19 03/31/20Portfolio BalancesMoney MarketLocal DepositoryTexSTARTexPoolCertificate of DepositUS Treasury166174166102699073751091041231561639710887516749419173615499711249510080706763050100150200# of DaysWeighted Average to MaturityJPMorgan Chase5%Southside Bank 4%LegacyTexas Bank5%Veritex Bank 1%Bank OZK3%NexBank3%TexPool18%TexSTAR30%IndependentBank5%Origin Bank5%East West Bank11%R Bank4%BBVA Bank2%T-Bill4%Portfolio Holdings by IssuerValley View Consulting, L.L.C.420
City - Book Value ComparisonCoupon/ Maturity Face Amount/Purchases/ Sales/Adjust/ Face Amount/DescriptionDiscount Date Par Value Book Value Adjustments Call/Maturity Par Value Book ValueJPMorgan Chase Cash0.23% 04/01/20 8,947,165$ 8,947,165$ 1,905,092$ –$ 10,852,258$ 10,852,258$ JPMorgan Chase MMA0.07% 04/01/20433,724 433,724 151 433,875 433,875 Veritex Bank MMA1.31% 04/01/20 3,192,376 3,192,376 12,957 3,205,333 3,205,333 NexBank MMA0.90% 04/01/20 7,310,083 7,310,083 27,540 7,337,623 7,337,623 Origin Bank MMA (4)2.25% 04/01/20 9,683,133 9,683,133 1,056,048 10,739,181 10,739,181 TexPool1.00% 04/01/20 32,488,666 32,488,666 6,292,968 38,781,634 38,781,634 TexSTAR0.96% 04/01/20 57,364,487 57,364,487 8,700,599 66,065,086 66,065,086 WallisBank CD2.77%01/03/203,062,607 3,062,607 (3,062,607)– – Independent Bank CD 2.88%02/03/205,182,915 5,182,915 (5,182,915)– – East West Bank CD2.25%02/03/204,491,891 4,491,891 (4,491,891)– – BBVA Bank CD2.25%02/03/202,015,097 2,015,097 (2,015,097)– – R Bank CD2.89%02/15/206,131,100 6,131,100 (6,131,100)– – R Bank CD2.15%02/16/201,005,434 1,005,434 (1,005,434)– – Southside Bank CD2.65%03/13/206,120,594 6,120,594 (6,120,594)– – East West Bank CD2.62%04/01/205,218,095 5,218,095 34,195 5,252,290 5,252,290 T-Bill0.00%04/16/202,500,000 2,488,200 10,035 2,500,000 2,498,236 Southside Bank CD1.82%04/17/202,500,000 2,500,000 14,336 2,514,336 2,514,336 LegacyTexas Bank CD 2.91%05/06/204,127,814 4,127,814 29,961 4,157,776 4,157,776 T-Bill0.00%05/07/204,900,000 4,873,475 18,858 4,900,000 4,892,333 Southside Bank CD2.47%05/11/203,037,471 3,037,471 18,911 3,056,381 3,056,381 BBVA Bank CD2.51%06/20/204,050,654 4,050,654 25,368 4,076,022 4,076,022 East West Bank CD2.48%07/15/205,089,456 5,089,456 31,565 5,121,021 5,121,021 East West Bank CD1.72%08/04/20– – 6,518,552 6,518,552 6,518,552 R Bank CD2.10%08/16/202,010,614 2,010,614 10,670 2,021,284 2,021,284 R Bank CD1.17%08/16/20– – 1,010,897 1,010,897 1,010,897 LegacyTexas Bank CD 2.66%08/21/206,133,814 6,133,814 40,669 6,174,483 6,174,483 T-Bill0.00%10/08/202,500,000 2,469,646 9,795 2,500,000 2,479,441 Independent Bank CD 1.85%10/18/202,500,000 2,500,000 11,652 2,511,652 2,511,652 Independent Bank CD 2.56%11/10/201,012,947 1,012,947 6,528 1,019,475 1,019,475 R Bank CD1.76%11/19/20– – 2,500,000 2,500,000 2,500,000 Southside Bank CD1.72%11/19/203,216,971 3,216,971 13,947 3,230,917 3,230,917 East West Bank CD1.71%12/09/204,004,312 4,004,312 17,108 4,021,420 4,021,420 East West Bank CD1.71%01/08/21– – 3,011,829 3,011,829 3,011,829 Independent Bank CD 1.70%02/05/21– – 3,100,000 3,100,000 3,100,000 R Bank CD1.81%02/19/21– – 4,000,000 4,000,000 4,000,000 Bank OZK CD1.72%02/26/21– – 6,007,921 6,007,921 6,007,921 Independent Bank CD 1.80%04/22/214,100,000 4,100,000 18,590 4,118,590 4,118,590 TOTAL204,331,420$ 204,262,741$ 44,456,742$ (28,009,638)$ 220,739,836$ 220,709,845$ December 31, 2019March 31, 2020Valley View Consulting, L.L.C.521
City - Market Value Comparison Maturity Face Amount/Market Qtr to Qtr Face Amount/Market DescriptionDate Par ValuePriceMarket Value Change Par ValuePriceMarket ValueJPMorgan Chase Cash 04/01/20 8,947,165$ 1.008,947,165$ 1,905,092$ 10,852,258$ 1.00 10,852,258$ JPMorgan Chase MMA 04/01/20 433,724 1.00433,724 151 433,875 1.00 433,875 Veritex Bank MMA04/01/20 3,192,376 1.003,192,376 12,957 3,205,333 1.00 3,205,333 NexBank MMA04/01/20 7,310,083 1.007,310,083 27,540 7,337,623 1.00 7,337,623 Origin Bank MMA (4) 04/01/20 9,683,133 1.009,683,133 1,056,048 10,739,181 1.00 10,739,181 TexPool04/01/20 32,488,666 1.0032,488,666 6,292,968 38,781,634 1.00 38,781,634 TexSTAR04/01/20 57,364,487 1.0057,364,487 8,700,599 66,065,086 1.00 66,065,086 WallisBank CD01/03/20 3,062,607 100.003,062,607 (3,062,607)– – Independent Bank CD 02/03/20 5,182,915 100.005,182,915 (5,182,915)– – East West Bank CD02/03/20 4,491,891 100.004,491,891 (4,491,891)– – BBVA Bank CD02/03/20 2,015,097 100.002,015,097 (2,015,097)– – R Bank CD02/15/20 6,131,100 100.006,131,100 (6,131,100)– – R Bank CD02/16/20 1,005,434 100.001,005,434 (1,005,434)– – Southside Bank CD03/13/20 6,120,594 100.006,120,594 (6,120,594)– – East West Bank CD04/01/20 5,218,095 100.005,218,095 34,195 5,252,290 100.005,252,290 T-Bill04/16/20 2,500,000 99.562,488,933 10,990 2,500,000 100.002,499,923 Southside Bank CD04/17/20 2,500,000 100.002,500,000 14,336 2,514,336 100.002,514,336 LegacyTexas Bank CD 05/06/20 4,127,814 100.004,127,814 29,961 4,157,776 100.004,157,776 T-Bill05/07/20 4,900,000 99.474,873,868 25,818 4,900,000 99.994,899,686 Southside Bank CD05/11/20 3,037,471 100.003,037,471 18,911 3,056,381 100.003,056,381 BBVA Bank CD06/20/20 4,050,654 100.004,050,654 25,368 4,076,022 100.004,076,022 East West Bank CD07/15/20 5,089,456 100.005,089,456 31,565 5,121,021 100.005,121,021 East West Bank CD08/04/20– – 6,518,552 6,518,552 100.006,518,552 R Bank CD08/16/20 2,010,614 100.002,010,614 10,670 2,021,284 100.002,021,284 R Bank CD08/16/20– – 1,010,897 1,010,897 100.001,010,897 LegacyTexas Bank CD 08/21/20 6,133,814 100.006,133,814 40,669 6,174,483 100.006,174,483 T-Bill10/08/20 2,500,000 98.822,470,590 28,185 2,500,000 99.952,498,775 Independent Bank CD 10/18/20 2,500,000 100.002,500,000 11,652 2,511,652 100.002,511,652 Independent Bank CD 11/10/20 1,012,947 100.001,012,947 6,528 1,019,475 100.001,019,475 R Bank CD11/19/20– – 2,500,000 2,500,000 100.002,500,000 Southside Bank CD11/19/20 3,216,971 100.003,216,971 13,947 3,230,917 100.003,230,917 East West Bank CD12/09/20 4,004,312 100.004,004,312 17,108 4,021,420 100.004,021,420 East West Bank CD01/08/21– – 3,011,829 3,011,829 100.003,011,829 Independent Bank CD 02/05/21– – 3,100,000 3,100,000 100.003,100,000 R Bank CD02/19/21– – 4,000,000 4,000,000 100.004,000,000 Bank OZK CD02/26/21– – 6,007,921 6,007,921 100.006,007,921 Independent Bank CD 04/22/21 4,100,000 100.004,100,000 18,590 4,118,590 100.004,118,590 TOTAL204,331,420$ 204,264,811$ 16,473,409$ 220,739,836$ 220,738,220$ December 31, 2019March 31, 2020Valley View Consulting, L.L.C.622
City - AllocationInvestment TotalConsolidated2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ Vehicles2015 CO-Stormwater JPMorgan Chase Cash10,852,258$ 10,852,258$ –$ –$ –$ –$ JPMorgan Chase MMA433,875 433,875 – – – – Veritex Bank MMA3,205,333 3,205,333 – – – – NexBank MMA7,337,623 7,337,623 – – – – Origin Bank MMA10,739,181 4,057,314 – – – – TexPool38,781,634 38,781,634 – – – – TexSTAR66,065,086 16,194,709 583,421 16,064,232 137,104 310,924 East West Bank CD04/01/205,252,290 5,252,290 – – – – T-Bill04/16/202,498,236 2,498,236 – – – – Southside Bank CD04/17/202,514,336 2,514,336 – – – – LegacyTexas Bank CD 05/06/204,157,776 4,157,776 – – – – T-Bill05/07/204,892,333 – – – – – Southside Bank CD05/11/203,056,381 3,056,381 – – – – BBVA Bank CD06/20/204,076,022 4,076,022 – – – – East West Bank CD07/15/205,121,021 5,121,021 – – – – East West Bank CD08/04/206,518,552 6,518,552 – – – – R Bank CD08/16/202,021,284 – – – – – R Bank CD08/16/201,010,897 – – – – – LegacyTexas Bank CD 08/21/206,174,483 6,174,483 – – – – T-Bill10/08/202,479,441 2,479,441 – – – – Independent Bank CD10/18/202,511,652 2,511,652 – – – – Independent Bank CD11/10/201,019,475 1,019,475 – – – – R Bank CD11/19/202,500,000 2,500,000 – – – – Southside Bank CD11/19/203,230,917 3,230,917 – – – – East West Bank CD12/09/204,021,420 4,021,420 – – – – East West Bank CD01/08/213,011,829 3,011,829 – – – – Independent Bank CD02/05/213,100,000 3,100,000 – – – – R Bank CD02/19/214,000,000 4,000,000 – – – – Bank OZK CD02/26/216,007,921 6,007,921 – – – – Independent Bank CD04/22/214,118,590 4,118,590 – – – – Totals220,709,845$ 156,233,087$ 583,421$ 16,064,232$ 137,104$ 310,924$ Book ValueMarch 31, 2020Valley View Consulting, L.L.C.723
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTAREast West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20East West Bank CD 08/04/20R Bank CD 08/16/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20R Bank CD 11/19/20Southside Bank CD 11/19/20East West Bank CD 12/09/20East West Bank CD 01/08/21Independent Bank CD 02/05/21R Bank CD 02/19/21Bank OZK CD 02/26/21Independent Bank CD 04/22/21TotalsBook ValueMarch 31, 2020(Continued)2015 GO-Roads2015 Revenue Water WW2016 CO- Streets/ Facilities/ Equip2016 GO- Roads2016 Revenue Water/WWGarey Park Donation–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,505,126 1,529,574 68,505 1,449,455 1,502,181 382,155 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,505,126$ 1,529,574$ 68,505$ 1,449,455$ 1,502,181$ 382,155$ Valley View Consulting, L.L.C.824
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTAREast West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20East West Bank CD 08/04/20R Bank CD 08/16/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20R Bank CD 11/19/20Southside Bank CD 11/19/20East West Bank CD 12/09/20East West Bank CD 01/08/21Independent Bank CD 02/05/21R Bank CD 02/19/21Bank OZK CD 02/26/21Independent Bank CD 04/22/21TotalsBook ValueMarch 31, 2020(Continued)2017 CO Facilities/ Public Safety/ Equipment2017 GO- Sidewalks2017 Revenue Electric2017 Revenue Water WW2018 CO-Airport2018 CO- Streets/ Facilities/ Equip–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 1,001,628 – – – – – – – – 182,069 380,362 97,239 6,018,195 56,616 924,064 – – – – – – – – – – – – – – – – – – – – – – – – – – – 4,892,333 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,021,284 – – – – – 1,010,897 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 182,069$ 380,362$ 97,239$ 14,944,336$ 56,616$ 924,064$ Valley View Consulting, L.L.C.925
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTAREast West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20East West Bank CD 08/04/20R Bank CD 08/16/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20R Bank CD 11/19/20Southside Bank CD 11/19/20East West Bank CD 12/09/20East West Bank CD 01/08/21Independent Bank CD 02/05/21R Bank CD 02/19/21Bank OZK CD 02/26/21Independent Bank CD 04/22/21TotalsBook ValueMarch 31, 2020(Continued)2018 GO- Parks2018 GO- Roads2019 CO- Streets/ Facilities/ Equip2018 CO-Stormwater2018 GO-Roads–$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – 4,716,627 – 963,612 – – – – –559,850 11,604,502 2,605,474 438,996 2,470,336 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 559,850$ 11,604,502$ 7,322,102$ 438,996$ 3,433,948$ Valley View Consulting, L.L.C.1026
City - AllocationMarch 31, 2020Market ValueInvestment TotalConsolidated2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ Vehicles2015 CO-Stormwater JPMorgan Chase Cash10,852,258$ 10,852,258$ –$ –$ –$ –$ JPMorgan Chase MMA433,875 433,875 – – – – Veritex Bank MMA3,205,333 3,205,333 – – – – NexBank MMA7,337,623 7,337,623 – – – – Origin Bank MMA10,739,181 4,057,314 – – – – TexPool38,781,634 38,781,634 – – – – TexSTAR66,065,086 16,194,709 583,421 16,064,232 137,104 310,924 East West Bank CD04/01/20 5,252,290 5,252,290 – – – – T-Bill04/16/20 2,499,923 2,499,923 – – – – Southside Bank CD04/17/20 2,514,336 2,514,336 – – – – LegacyTexas Bank CD 05/06/20 4,157,776 4,157,776 – – – – T-Bill05/07/20 4,899,686 – – – – – Southside Bank CD05/11/20 3,056,381 3,056,381 – – – – BBVA Bank CD06/20/20 4,076,022 4,076,022 – – – – East West Bank CD07/15/20 5,121,021 5,121,021 – – – – East West Bank CD08/04/20 6,518,552 6,518,552 – – – – R Bank CD08/16/20 2,021,284 – – – – – R Bank CD08/16/20 1,010,897 – – – – – LegacyTexas Bank CD 08/21/20 6,174,483 6,174,483 – – – – T-Bill10/08/20 2,498,775 2,498,775 – – – – Independent Bank CD10/18/20 2,511,652 2,511,652 – – – – Independent Bank CD11/10/20 1,019,475 1,019,475 – – – – R Bank CD11/19/20 2,500,000 2,500,000 – – – – Southside Bank CD11/19/20 3,230,917 3,230,917 – – – – East West Bank CD12/09/20 4,021,420 4,021,420 – – – – East West Bank CD01/08/21 3,011,829 3,011,829 – – – – Independent Bank CD02/05/21 3,100,000 3,100,000 – – – – R Bank CD02/19/21 4,000,000 4,000,000 – – – – Bank OZK CD02/26/21 6,007,921 6,007,921 – – – – Independent Bank CD04/22/21 4,118,590 4,118,590 – – – – Totals220,738,220$ 156,254,108$ 583,421$ 16,064,232$ 137,104$ 310,924$ Valley View Consulting, L.L.C.1127
City - AllocationMarch 31, 2020Market ValueJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTAREast West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20East West Bank CD 08/04/20R Bank CD 08/16/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20R Bank CD 11/19/20Southside Bank CD 11/19/20East West Bank CD 12/09/20East West Bank CD 01/08/21Independent Bank CD 02/05/21R Bank CD 02/19/21Bank OZK CD 02/26/21Independent Bank CD 04/22/21Totals(Continued)2015 GO-Roads2015 Revenue Water WW2016 CO- Streets/ Facilities/ Equip2016 GO- Roads2016 Revenue Water/WWGarey Park Donation–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,505,126 1,529,574 68,505 1,449,455 1,502,181 382,155 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,505,126$ 1,529,574$ 68,505$ 1,449,455$ 1,502,181$ 382,155$ Valley View Consulting, L.L.C.1228
City - AllocationMarch 31, 2020Market ValueJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTAREast West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20East West Bank CD 08/04/20R Bank CD 08/16/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20R Bank CD 11/19/20Southside Bank CD 11/19/20East West Bank CD 12/09/20East West Bank CD 01/08/21Independent Bank CD 02/05/21R Bank CD 02/19/21Bank OZK CD 02/26/21Independent Bank CD 04/22/21Totals(Continued)2017 CO Facilities/ Public Safety/ Equipment2017 GO- Sidewalks2017 Revenue Electric2017 Revenue Water WW2018 CO-Airport2018 CO- Streets/ Facilities/ Equip–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 1,001,628 – – – – – – – – 182,069 380,362 97,239 6,018,195 56,616 924,064 – – – – – – – – – – – – – – – – – – – – – – – – – – – 4,899,686 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,021,284 – – – – – 1,010,897 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 182,069$ 380,362$ 97,239$ 14,951,690$ 56,616$ 924,064$ Valley View Consulting, L.L.C.1329
City - AllocationMarch 31, 2020Market ValueJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTAREast West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20East West Bank CD 08/04/20R Bank CD 08/16/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20R Bank CD 11/19/20Southside Bank CD 11/19/20East West Bank CD 12/09/20East West Bank CD 01/08/21Independent Bank CD 02/05/21R Bank CD 02/19/21Bank OZK CD 02/26/21Independent Bank CD 04/22/21Totals(Continued)2018 GO- Parks2018 GO- Roads2019 CO- Streets/ Facilities/ Equip2018 CO-Stormwater2018 GO-Roads–$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – 4,716,627 – 963,612 – – – – –559,850 11,604,502 2,605,474 438,996 2,470,336– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 559,850$ 11,604,502$ 7,322,102$ 438,996$ 3,433,948$ Valley View Consulting, L.L.C.1430
City - AllocationInvestment TotalConsolidated2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ Vehicles2015 CO-Stormwater JPMorgan Chase Cash8,947,165$ 8,947,165$ –$ –$ –$ –$ JPMorgan Chase MMA433,724 433,724 – – – – Veritex Bank MMA3,192,376 3,192,376 – – – – NexBank MMA7,310,083 7,310,083 – – – – Origin Bank MMA9,683,133 4,034,639 – – – – TexPool32,488,666 32,488,666 – – – – TexSTAR57,364,487 11,821,649 762,547 3,499,073 136,642 597,255 WallisBank CD01/03/203,062,607 3,062,607 – – – – Independent Bank CD02/03/205,182,915 3,109,620 – – – – East West Bank CD02/03/204,491,891 – – – – – BBVA Bank CD02/03/202,015,097 – – – – – R Bank CD02/15/206,131,100 6,131,100 – – – – R Bank CD02/16/201,005,434 – – – – – Southside Bank CD03/13/206,120,594 6,120,594 – – – – East West Bank CD04/01/205,218,095 5,218,095 – – – – T-Bill04/16/202,488,200 2,488,200 – – – – Southside Bank CD04/17/202,500,000 2,500,000 – – – – LegacyTexas Bank CD 05/06/204,127,814 4,127,814 – – – – T-Bill05/07/204,873,475 – – – – – Southside Bank CD05/11/203,037,471 3,037,471 – – – – BBVA Bank CD06/20/204,050,654 4,050,654 – – – – East West Bank CD07/15/205,089,456 5,089,456 – – – – R Bank CD08/16/202,010,614 – – – – – LegacyTexas Bank CD 08/21/206,133,814 6,133,814 – – – – T-Bill10/08/202,469,646 2,469,646 – – – – Independent Bank CD10/18/202,500,000 2,500,000 – – – – Independent Bank CD11/10/201,012,947 1,012,947 – – – – Southside Bank CD11/19/203,216,971 3,216,971 – – – – East West Bank CD12/09/204,004,312 4,004,312 – – – – Independent Bank CD04/22/214,100,000 4,100,000 – – – – Totals204,262,741$ 136,601,603$ 762,547$ 3,499,073$ 136,642$ 597,255$ December 31, 2019Book ValueValley View Consulting, L.L.C.1531
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARWallisBank CD 01/03/20Independent Bank CD 02/03/20East West Bank CD 02/03/20BBVA Bank CD 02/03/20R Bank CD 02/15/20R Bank CD 02/16/20Southside Bank CD 03/13/20East West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20Southside Bank CD 11/19/20East West Bank CD 12/09/20Independent Bank CD 04/22/21TotalsDecember 31, 2019Book Value(Continued)2015 GO-Roads2015 Revenue Water WW2016 CO- Streets/ Facilities/ Equip2016 GO- Roads2016 Revenue Water/WWGarey Park Donation–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,496,695 1,003,886 68,274 1,470,406 1,518,041 382,066 – – – – – – – 518,421– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – 2,496,695$ 1,522,307$ 68,274$ 1,470,406$ 1,518,041$ 382,066$ Valley View Consulting, L.L.C.1632
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARWallisBank CD 01/03/20Independent Bank CD 02/03/20East West Bank CD 02/03/20BBVA Bank CD 02/03/20R Bank CD 02/15/20R Bank CD 02/16/20Southside Bank CD 03/13/20East West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20Southside Bank CD 11/19/20East West Bank CD 12/09/20Independent Bank CD 04/22/21TotalsDecember 31, 2019Book Value(Continued)2017 CO Facilities/ Public Safety/ Equipment2017 GO- Sidewalks2017 Revenue Water WW2018 CO-Airport2018 CO- Streets/ Facilities/ Equip2018 GO- Parks–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 182,700 1,014,543 7,535,551 56,425 1,550,576 871,680 – – – – – – – – – – 1,036,557 518,317 – – – – – – – – – – – – – – – – – – – 1,005,434 – – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – 4,873,475 – – – – – –– – – – – –– – – – – –– – – – – 2,010,614 – – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – 182,700$ 1,014,543$ 15,425,074$ 56,425$ 2,587,133$ 1,389,997$ Valley View Consulting, L.L.C.1733
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARWallisBank CD 01/03/20Independent Bank CD 02/03/20East West Bank CD 02/03/20BBVA Bank CD 02/03/20R Bank CD 02/15/20R Bank CD 02/16/20Southside Bank CD 03/13/20East West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20Southside Bank CD 11/19/20East West Bank CD 12/09/20Independent Bank CD 04/22/21TotalsDecember 31, 2019Book Value(Continued)2018 GO- Roads2018 Revenue Electric2019 CO- Streets/ Facilities/ Equip2018 CO-Stormwater2018 GO-Roads–$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – 4,690,268 – 958,227 – – – – –12,078,691 393,328 6,593,316 439,030 2,795,200 – – – – – – – – – – – – 3,482,477 – 1,009,414 2,015,097 – – – –– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 14,093,788$ 393,328$ 14,766,061$ 439,030$ 4,762,840$ Valley View Consulting, L.L.C.1834
City - AllocationDecember 31, 2019Market ValueInvestment TotalConsolidated2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ Vehicles2015 CO-Stormwater JPMorgan Chase Cash8,947,165$ 8,947,165$ –$ –$ –$ –$ JPMorgan Chase MMA433,724 433,724 – – – – Veritex Bank MMA3,192,376 3,192,376 – – – – NexBank MMA7,310,083 7,310,083 – – – – Origin Bank MMA9,683,133 4,034,639 – – – – TexPool32,488,666 32,488,666 – – – – TexSTAR57,364,487 11,821,649 762,547 3,499,073 136,642 597,255 WallisBank CD01/03/20 3,062,607 3,062,607 – – – – Independent Bank CD02/03/20 5,182,915 3,109,620 – – – – East West Bank CD02/03/20 4,491,891 – – – – – BBVA Bank CD02/03/20 2,015,097 – – – – – R Bank CD02/15/20 6,131,100 6,131,100 – – – – R Bank CD02/16/20 1,005,434 – – – – – Southside Bank CD03/13/20 6,120,594 6,120,594 – – – – East West Bank CD04/01/20 5,218,095 5,218,095 – – – – T-Bill04/16/20 2,488,933 2,488,933 – – – – Southside Bank CD04/17/20 2,500,000 2,500,000 – – – – LegacyTexas Bank CD 05/06/20 4,127,814 4,127,814 – – – – T-Bill05/07/20 4,873,868 – – – – – Southside Bank CD05/11/20 3,037,471 3,037,471 – – – – BBVA Bank CD06/20/20 4,050,654 4,050,654 – – – – East West Bank CD07/15/20 5,089,456 5,089,456 – – – – R Bank CD08/16/20 2,010,614 – – – – – LegacyTexas Bank CD 08/21/20 6,133,814 6,133,814 – – – – T-Bill10/08/20 2,470,590 2,470,590 – – – – Independent Bank CD10/18/20 2,500,000 2,500,000 – – – – Independent Bank CD11/10/20 1,012,947 1,012,947 – – – – Southside Bank CD11/19/20 3,216,971 3,216,971 – – – – East West Bank CD12/09/20 4,004,312 4,004,312 – – – – Independent Bank CD04/22/21 4,100,000 4,100,000 – – – – Totals204,264,811$ 136,603,279$ 762,547$ 3,499,073$ 136,642$ 597,255$ Valley View Consulting, L.L.C.1935
City - AllocationDecember 31, 2019Market ValueJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARWallisBank CD 01/03/20Independent Bank CD 02/03/20East West Bank CD 02/03/20BBVA Bank CD 02/03/20R Bank CD 02/15/20R Bank CD 02/16/20Southside Bank CD 03/13/20East West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20Southside Bank CD 11/19/20East West Bank CD 12/09/20Independent Bank CD 04/22/21Totals(Continued)2015 GO-Roads2015 Revenue Water WW2016 CO- Streets/ Facilities/ Equip2016 GO- Roads2016 Revenue Water/WWGarey Park Donation–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,496,695 1,003,886 68,274 1,470,406 1,518,041 382,066 – – – – – – – 518,421 – – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – 2,496,695$ 1,522,307$ 68,274$ 1,470,406$ 1,518,041$ 382,066$ Valley View Consulting, L.L.C.2036
City - AllocationDecember 31, 2019Market ValueJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARWallisBank CD 01/03/20Independent Bank CD 02/03/20East West Bank CD 02/03/20BBVA Bank CD 02/03/20R Bank CD 02/15/20R Bank CD 02/16/20Southside Bank CD 03/13/20East West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20Southside Bank CD 11/19/20East West Bank CD 12/09/20Independent Bank CD 04/22/21Totals(Continued)2017 CO Facilities/ Public Safety/ Equipment2017 GO- Sidewalks2017 Revenue Water WW2018 CO-Airport2018 CO- Streets/ Facilities/ Equip2018 GO- Parks–$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 182,700 1,014,543 7,535,551 56,425 1,550,576 871,680 – – – – – – – – – – 1,036,557 518,317 – – – – – – – – – – – – – – – – – – – – 1,005,434 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 4,873,868 – – – – – –– – – – – –– – – – – –– – – – – 2,010,614 – – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – – – –– – – 182,700$ 1,014,543$ 15,425,467$ 56,425$ 2,587,133$ 1,389,997$ Valley View Consulting, L.L.C.2137
City - AllocationDecember 31, 2019Market ValueJPMorgan Chase CashJPMorgan Chase MMAVeritex Bank MMANexBank MMAOrigin Bank MMATexPoolTexSTARWallisBank CD 01/03/20Independent Bank CD 02/03/20East West Bank CD 02/03/20BBVA Bank CD 02/03/20R Bank CD 02/15/20R Bank CD 02/16/20Southside Bank CD 03/13/20East West Bank CD 04/01/20T-Bill 04/16/20Southside Bank CD 04/17/20LegacyTexas Bank CD 05/06/20T-Bill 05/07/20Southside Bank CD 05/11/20BBVA Bank CD 06/20/20East West Bank CD 07/15/20R Bank CD 08/16/20LegacyTexas Bank CD 08/21/20T-Bill 10/08/20Independent Bank CD 10/18/20Independent Bank CD 11/10/20Southside Bank CD 11/19/20East West Bank CD 12/09/20Independent Bank CD 04/22/21Totals(Continued)2018 GO- Roads2018 Revenue Electric2019 CO- Streets/ Facilities/ Equip2018 CO-Stormwater2018 GO-Roads–$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – 4,690,268 – 958,227 – – – – –12,078,691 393,328 6,593,316 439,030 2,795,200 – – – – – – – – – – – – 3,482,477 – 1,009,414 2,015,097 – – – –– – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 14,093,788$ 393,328$ 14,766,061$ 439,030$ 4,762,840$ Valley View Consulting, L.L.C.2238
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-Bill2339
Georgetown Economic Development Corporation (GEDCO)QUARTERLY INVESTMENT REPORTFor the Quarter EndedMarch 31, 2020Prepared byValley View Consulting, L.L.C.The investment portfolio of the Georgetown Economic Development Corporation (GEDCO) is in compliance with the Texas Public Funds Investment Act and the Investment Policy and Strategies.________________________________________________________________________ Elaine WilsonLeigh WallaceControllerFinance Director___________________________________ Karrie PursleyTreasurerDisclaimer: These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees.40
SummaryQuarter End Results by Investment Category:Asset TypeBook ValueMarket ValueBook ValueMarket ValueAve. YieldMMA2,116,764$ 2,116,764$ 2,125,358$ 2,125,358$ 1.31%Pools6,485,764 6,485,764 4,886,433 4,886,433 1.06%Certificates of Deposit– – 2,000,000 2,000,000 1.70%8,602,528$ 8,602,528$ 9,011,792$ 9,011,792$ 1.26% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.26%Total Portfolio 1.45%Rolling Three Month Treasury 1.17%Rolling Three Month Treasury 1.38%Rolling Six Month Treasury 1.39%Rolling Six Month Treasury 1.58%TexPool 1.00%TexPool 1.31%Interest income provided in separate report.December 31, 2019(1) Quarter End Average Yield - 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, pool, and money market balances.(2) Fiscal Year-to-Date 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.March 31, 2020Valley View Consulting, L.L.C.141
Economic Overview3/31/2020 Due to COVID-19 pandemic concerns, the Federal Open Market Committee (FOMC) dramatically reduced the Fed Funds target range to 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%). Worldwide economic activity has collapsed because of Coronavirus "social isolation" and other related actions. The Yield Curve plummeted. Crude oil declined severely to less than $25 per barrel. Unemployment claims leaped to over 10 million. The Stock Market "corrected" into a full bear market. U.S. monetary and fiscal programs are designed to stabilize and improve near term economic conditions. Time will tell how long the pandemic lasts and full recovery takes.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,750S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.501.001.502.002.503.00Treasury Yield CurvesMarch 31, 2019December 31, 2019March 31, 20200.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.242
Investment HoldingsCoupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par ValueValue PriceValue (Day)YieldVeritex Bank MMA1.31% 04/01/20 03/31/20 2,125,358$ 2,125,358$ 1.00 2,125,358$ 1 1.31%TexasDAILYAAAm 1.20% 04/01/20 03/31/20 2,121,273 2,121,273 1.00 2,121,273 1 1.20%TexSTARAAAm 0.96% 04/01/20 03/31/20 2,765,160 2,765,160 1.00 2,765,160 1 0.96%Independent Bank1.70% 02/05/21 02/05/20 2,000,000 2,000,000 100.00 2,000,000 311 1.70%9,011,792$ 9,011,792$ 9,011,792$ 70 1.26%(1) (2)March 31, 2020(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.(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.Valley View Consulting, L.L.C.343
MMA 24%Pools 54%Certificates of Deposit 22%GEDCO PORTFOLIO COMPOSITION $0 $1,000,000 $2,000,000 $3,000,000 $4,000,000 $5,000,000 $6,000,000 $7,000,000 $8,000,000 $9,000,000 $10,000,00006/30/19 09/30/19 12/31/19 03/31/20GEDCO PORTFOLIO BALANCES CD TexasDAILY TexSTAR Money MarketValley View Consulting, L.L.C.444
Book & Market Value ComparisonCoupon/Maturity Face Amount/Purchases/Sales/Adjust/Face Amount/DescriptionDiscount Date Par Value Book Value Adjustments Call/Maturity Par Value Book ValueVeritex Bank MMA1.31% 04/01/20 2,116,764$ 2,116,764$ 8,594$ –$ 2,125,358$ 2,125,358$ TexasDAILY1.20% 04/01/20 2,113,585 2,113,585 7,688 2,121,273 2,121,273 TexSTAR0.96% 04/01/20 4,372,178 4,372,178 (1,607,019) 2,765,160 2,765,160 Independent Bank1.70% 02/05/212,000,000 2,000,000 2,000,000 TOTAL8,602,528$ 8,602,528$ 2,016,282$ (1,607,019)$ 9,011,792$ 9,011,792$ December 31, 2019March 31, 2020Valley View Consulting, L.L.C.545
Georgetown Transportation Enhancement Corporation (GTEC)QUARTERLY INVESTMENT REPORTFor the Quarter EndedMarch 31, 2020Prepared byValley View Consulting, L.L.C.The investment portfolio of the Georgetown Transportation Enhancement Corporation (GTEC) is in compliance with the Texas Public Funds Investment Act and the Investment Policy and Strategies.________________________________________________________________________Elaine WilsonLeigh WallaceControllerFinance Director___________________________________ Karrie PursleyTreasurerDisclaimer: These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are notnecessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, arenot representative of total return yields and do not account for investment advisor fees.46
SummaryQuarter End Results by Investment Category:Asset TypeBook ValueMarket ValueBook ValueMarket ValueAve. YieldPools/MMAs16,317,230$ 16,317,230$ 19,994,093$ 19,994,093$ 1.15%CDs/Securities5,253,984 5,253,984 3,208,607 3,208,607 1.73%Totals 21,571,214$ 21,571,214$ 23,202,700$ 23,202,700$ 1.23% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.23%Total Portfolio 1.59%Rolling Three Month Treasury 1.17%Rolling Three Month Treasury 1.38%Rolling Six Month Treasury 1.39%Rolling Six Month Treasury 1.58%TexPool 1.00%TexPool 1.33%Interest data provided in separate report.December 31, 2019(1)Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are notconsidered. The yield for the reporting month is used for bank, pool, and money market balances.(2)Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a totalreturn analysis or account for advisory fees.March 31, 2020Valley View Consulting, L.L.C.147
Economic Overview3/31/2020 Due to COVID-19 pandemic concerns, the Federal Open Market Committee (FOMC) dramatically reduced the Fed Funds target range to 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%). Worldwide economic activity has collapsed because of Coronavirus "social isolation" and other related actions. The Yield Curve plummeted. Crude oil declined severely to less than $25 per barrel. Unemployment claims leaped to over 10 million. The Stock Market "corrected" into a full bear market. U.S. monetary and fiscal programs are designed to stabilize and improve near term economic conditions. Time will tell how long the pandemic lasts and full recovery takes.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,750S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.501.001.502.002.503.00Treasury Yield CurvesMarch 31, 2019December 31, 2019March 31, 20200.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.248
Investment HoldingsCoupon/Maturity Settlement Face Amount/Book Market Market LifeDescription Ratings Discount Date Date Par ValueValue PriceValue (Day)YieldTexPool AAAm 1.00% 04/01/20 03/31/20 6,658,162$ 6,658,162$ 1.00 6,658,162$ 1 1.00%TexSTARAAAm 0.96% 04/01/20 03/31/20 8,625,460 8,625,460 1.00 8,625,460 1 0.96%Origin Bank MMA2.25% 04/01/20 03/31/20 2,028,657 2,028,657 1.00 2,028,657 1 2.25%Veritex Bank MMA1.31% 04/01/20 03/31/20 2,681,814 2,681,814 1.00 2,681,814 1 1.31%East West Bank CD1.72% 08/04/20 02/04/20 3,208,607 3,208,607 100.00 3,208,607 126 1.73%23,202,700$ 23,202,700$ 23,202,700$ 18 1.23%(1) (2)March 31, 2020(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.(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 notconsidered. The yield for the reporting month is used for bank accounts, pools, and money market funds.Valley View Consulting, L.L.C.349
Pools/MMAs 86%CDs/Securities 14%GTEC PORTFOLIO COMPOSITION $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,0003/31/2019 9/30/2019 12/31/2019 3/31/2020GTEC PORTFOLIO BALANCES CD TexPool TexSTAR Money MarketValley View Consulting, L.L.C.450
Book Value ComparisonCoupon/Maturity Face Amount/Purchases/Sales/Adjust/Face Amount/DescriptionDiscount Date Par Value Book Value Adjustments Call/Maturity Par Value Book ValueTexPool 1.00% 04/01/20 8,228,703$ 8,228,703$ –$(1,570,541)$ 6,658,162$ 6,658,162$ TexSTAR0.96% 04/01/20 3,400,236 3,400,236 5,225,2248,625,460 8,625,460 Origin Bank MMA2.25% 04/01/20 2,017,319 2,017,319 11,3372,028,657 2,028,657 Veritex Bank MMA1.31% 04/01/20 2,670,972 2,670,972 10,8422,681,814 2,681,814 R Bank CD2.67% 02/21/20 3,213,625 3,213,625 (3,213,625)– – Southside Bank CD2.68% 02/21/20 2,040,358 2,040,358 (2,040,358)– – East West Bank CD1.72% 08/04/20– – 3,208,6073,208,607 3,208,607 TOTAL21,571,214$ 21,571,214$ 8,456,010$ (6,824,525)$ 23,202,700$ 23,202,700$ Market Value ComparisonCoupon/Maturity Face Amount/Qtr to QtrFace Amount/DescriptionDiscount Date Par Value Market ValueChange Par Value Market ValueTexPool 1.00% 04/01/20 8,228,703$ 8,228,703$ (1,570,541)$ 6,658,162$ 6,658,162$ TexSTAR0.96% 04/01/20 3,400,236 3,400,236 5,225,224 8,625,460 8,625,460 Origin Bank MMA2.25% 04/01/20 2,017,319 2,017,319 11,337 2,028,657 2,028,657 Veritex Bank MMA1.31% 04/01/20 2,670,972 2,670,972 10,842 2,681,814 2,681,814 R Bank CD2.67% 02/21/20 3,213,625 3,213,625 (3,213,625)– – Southside Bank CD2.68% 02/21/20 2,040,358 2,040,358 (2,040,358)– – East West Bank CD1.72% 08/04/20– – 3,208,607 3,208,607 3,208,607 TOTAL21,571,214$ 21,571,214$ 1,631,486$ 23,202,700$ 23,202,700$ December 31, 2019March 31, 2020December 31, 2019March 31, 2020Valley View Consulting, L.L.C.551
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
25,247.80 -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
1814GRGTN Runway 18/36 Rehabilitation-
Engineering
- -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
1814GEORG Runway 18/36 Rehabilitation-
Construction
- -
Airport Federal Aviation
Administration
Texas Department of
Transportation-Aviation
1914GEORG Taxiway Lighting Project 22,860.00 20,574.00
Fire US Department of Homeland
Security
Federal Emergency
Management Agency
EMW-2017-FH-00496 SAFER 491,656.35 368,742.26
Fire Federal Emergency
Management Agency
Texas Department of Public
Safety - TDEM
TEEX Tracy Ryan Deployment
Urban Search and Rescue
(US&R)
- 12,207.45
Planning US Department of Housing &
Urban Development
Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps
along 17th St
123,650.75 123,650.75
Planning US Department of Housing &
Urban Development
Williamson County CDBG Home Repair - -
Police Bureau of Justice Assistance N/A KXPIIIA Bullet Proof Vests - Supply
Police with new vests
- -
Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement 34,791.00 -
Police US. Department of Treasury N/A TX2460200 Equitable Sharing Agreement 11,117.24 12,339.76
Public Works Dept. of Transportation
/Federal Highway
Administration
Texas Department of
Transportation
CSJ-0914-05-187 Highway Planning &
Construction (Austin Ave
Bridge)
12,140.65 -
Public Works Dept. of Transportation
/Federal Highway
Administration
Texas Department of
Transportation
CSJ-0914-05-200,201,202 Highway Planning &
Construction (Williams Dr
Corridor)
- -
Parks Texas Parks and Wildlife
Department (TPWD)
Federal Highway
Administration
RT017010 Recreation San Gabriel Trails $ 173,682.22 -
Reviewed By: Elaine Wilson
CITY OF GEORGETOWN
Grant/Federal Funding Report
as of March 31, 2020
Active
52
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 12/31/19 Status Updates ‐ 3/31/20Cemetery 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.There has been no change during this quarter. No changeUnfunded 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 9/30/2019, the net pension liability is $28.8 million and is 81.41% funded. The 2020 total combined contribution rate is 12.26%. This increase is due to a change in the discount rate.No changeOther 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. OPEB liability as of 9/30/2019 is $3.3 million. This is a combination of sudden death benefits as well as post‐retirement healthcare.No changeCompensated 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 City keeps a reserve in the General Fund to help offset large payouts for long‐term employees. The reserve is used as needed, and annually replenished or increased based on known risk.Compensated absences as of 9/30/2019 are $7.5 million. This increase is due to more time being earned than used in FY19. In FY2020, the budgeted reserve was increased to $340,000.No changeElectric 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. Purchased Power expenses for the cumulative first quarter are on track compared to the budget for FY2020. Revenues are also tracking above budget, helping to restore positive cash flow to the fund. No changeCITY OF GEORGETOWNLong-term Commitments, Reservations, and Other Unfunded Liabilities3/31/202053
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 12/31/19 Status Updates ‐ 3/31/20Airport 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. We have none at this time. No changeAmericans 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.There are currently no changes to the ADA plan. No changeSidewalk 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 – Contractor has installed the 8' sidewalk along 7th street from Myrtle to College. Sidewalk has also been installed along Ash St, College Street, 6th Street and 8th Streets. Utility relocations along 7th street between College and Pine are being scheduled at this time. Estimated completion of the project is the end of March 2020. Austin Ave Sidewalks (Leander to Hwy 29) – Project is complete and closed out.Old Town NE Sidewalk ‐ Contractor has completed 95% of the project. All sidewalk and pedestrian ramps are in place. TDLR inspection and walk‐through to be completed in Mid‐May. Contractor to address any punch list items. 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.Funding was provided at $394K in the FY20 budget for capital repair and maintenace covering the full amount of replacement and repair needs. Projects are underway to complete the items listed. No changeRadio 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. Staff is preparing the procurement. No change54
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 12/31/19 Status Updates ‐ 3/31/20Street 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.No change. No changeFiber Asset AllocationNetwork fiber infrastructure is installed across the City. Traditionally, the Electric Fund has installed and maintained the network. In reviewing all costs for the Electric Fund, the City has begun moving the fiber asset to the IT Fund. Staff must develop a multi‐year strategy to complete the asset transfer and allocate costs for maintenance.The IT Director is updating the annual and forecasted allocation model to absorb the asset. Staff will present a plan in the FY 2021 budget development process. No change55