HomeMy WebLinkAbout4th_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 September 30, 2020
Table of Contents
Executive Summary .................................................................................................................................... 1-7
General Fund Schedule .............................................................................................................................. 8-9
Electric Fund Schedule ........................................................................................................................... 10-11
Water Services Fund Schedule ............................................................................................................... 12-13
Joint Services Fund Schedule ....................................................................................................................... 14
Council Discretionary Fund Schedule .......................................................................................................... 15
Convention & Visitors Bureau Fund Schedule ............................................................................................. 16
Airport Fund Schedule ................................................................................................................................. 17
Georgetown Transportation Enhancement Corporation Fund Schedule ............................................... 18-19
Georgetown Economic Development Corporation Fund Schedule ........................................................ 20-21
Quarterly Investment Report - City ........................................................................................................ 22-48
Quarterly Investment Report - GTEC ...................................................................................................... 49-55
Quarterly Investment Report - GEDCO ................................................................................................... 56-62
Grant Applications .................................................................................................................................. 63-64
Capital Improvement Projects ................................................................................................................ 65-70
Long-term Commitments and Other Unfunded Liabilities ..................................................................... 71-74
F FY2020 Quarterly Report
EXECUTIVE SUMMARY FOR THE QUARTER ENDED SEPT. 30, 2020
I.QUARTERLY FINANCIAL ANALYSIS
Please note this quarterly report includes unaudited figures. Currently, City staff along with our audit partners, are in
the process of completing the year‐end close out and the Comprehensive Annual Finance Report (CAFR). It is
anticipated the CAFR process will be completed within the next few months and all numbers finalized. The numbers
presented in this report are unaudited, preliminary, and subject to change.
GENERAL FUND REVENUES:
General Fund revenues total $78.9 million, or 103.6% of
budget, and 104.3% of projections. Revenues exceed last
year’s annual total by $7.5 million, or 11%.
Sales tax revenue accounts for 23.4% of budgeted
revenues in the General Fund. The sales tax revenue
through September totals $19.1 million, or 107% of
budget. Due to the COVID‐19 pandemic, mid‐year and
year‐end projections were very uncertain since sales tax
data lags two months in arrears and the impact of
consumers’ shift to online retail was difficult to quantify.
In the Budget process, staff conservatively projected
sales tax to finish at $17.9 million, a variance from actuals
of 6.5%. The core sales tax sectors of retail, food, and
information continue to be strong in the fourth quarter.
Property tax revenues are typically received mostly in the
2nd quarter and account for about 20% of budgeted revenues. Through the fourth quarter, the City has received $15.1
million or 101.1% of budget, and 101% of projection.
The City collects franchise fees for electric, natural gas, cable, and non‐cellular telephone services. Through the fourth
quarter, franchise fee revenues total $5.8 million in FY2020, or 97.4% of budget. Franchise fees represent 8% of
budgeted revenues in the fund. In the Budget process, staff projected this segment of revenue would finish at $5.9
million, a variance of ‐2.6%.
Return on Investment (ROI) revenue from City‐owned
utilities represents 11% of budgeted revenues in the
fund. Through the fourth quarter, ROI revenues total $8.5
million, or 105.5% of budget. During the Budget process,
staff projected this segment would finish at $8.1 million,
including capping the Electric ROI transfer at $4.5 million.
The variance from projection is 5.5%, which is due to
slightly higher than projected sales in the Water Fund.
Development related revenue continues to be strong.
Through the fourth quarter, development related
revenue totals $5.5 million or 146% of budget. The
variance of projection to actuals is $993 thousand, or
21.8% over projection. Contributing factors include large
‐
50
100
150
200
250
300
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Residential Building Permits
2015 2016 2017
2018 2019 FY2020
10,000,000
11,000,000
12,000,000
13,000,000
14,000,000
15,000,000
16,000,000
17,000,000
18,000,000
19,000,000
20,000,000
General Fund Sales Tax
General Fund Sales Tax
FY2017 FY2018 FY2019 FY2020
1
F FY2020 Quarterly Report
one‐time master development fee payments of $627,736 as well as an increase in residential permits and inspections.
The permit graph in this report shows the five‐year history of new residential permits by month.
Sanitation revenue through the fourth quarter totals $10.1 million or 101.8% of budget. Sanitation revenue accounts
for 13% of budgeted revenues in the fund. In the Budget process, staff projected this segment of revenue would
finish the year at $9.9 million. The variance of projection to actuals is 1.8%.
Fire and EMS revenue through the quarter totals $7.4 million, or 103% of budget. Fire/EMS revenue is comprised of
the Emergency Services District 8 contract for service, EMS transport revenues, as well as public safety grants like the
SAFER grant. This segment of revenue accounts for 9.4% of budgeted revenue in the fund. In the Budget process,
staff projected this segment of revenue would finish at $6.8 million. Revenue came in higher than anticipated due
to the conservative forecast of EMS revenue and receiving additional grant funding from the SAFER grant and Texas
Ambulance Supplemental Payment Program revenue. The variance of projection to actuals is 8%.
Parks and Recreation revenue totals $1.5 million for the year, or 55% of budget. In the Budget process, staff
conservatively projected Parks and Recreation revenue to end FY2020 at $1.5 million due to reduced programing and
services related to the pandemic. The Recreation staff offered childcare and other programming during the pandemic
to provide new revenues to help offset the impact of closure. This is a variance of projection to actuals is 5%. Parks
and Recreation revenue represents 2% of projected revenues.
The All Other Revenue category includes court fees, animal and library fines, as well as interest earned. This category
is 4% under projections because allocated interest came in less than staff projected. Interest rates declined sharply
as a result of the pandemic economic conditions.
Our performance target is to be within 3% of projections for all major revenue sources. Overall, the City’s General
Fund revenues finished the year above budget and within 4.3% of projections. Property Tax and Sales Tax, which
combine account for 43% of budgeted revenues, finished the year at 4% above projections.
GENERAL FUND EXPENSES:
Annual expenses through the fourth quarter total $72.1 million, or 93.4% of budget and 96.8% of projection (this
includes all expenses type of personnel, operations, capital, and transfers).
Personnel and Operations Summary (excludes capital accounts)
Personnel costs through the 4th quarter total $42 million, or 97.8% of personnel budget. Operational costs total $28
million, or 89%. The table above excludes capital accounts (like street repair or transfers out for fleet purchases) and
is used to compare the personnel and operations costs year to year.
Administration Services Division (Administrative Services, City Council, and City Secretary) personnel and operational
expenditures for the 4
th quarter totals $2.6 million, which represents 89.7% of budget. General Government
Contracts includes budgeted vacancy savings estimates for all General Fund departments. Real vacancy savings is
realized in each cost center.
Year‐to‐date personnel and operational expenditures for the Community Services (Parks and Rec., Library,
Communications and Public Engagement, Community Services, Code Enforcement, and Animal Services) and Finance
Division (Municipal Court) totals $13.1 million or 87.4% of budget.
COMBINDED EXPENSES FY2020 Budget FY2020 Actuals
% of FY2020
Budget
FY2019
Budget
FY2019 YTD
Actuals
% of FY2019
Budget YTD Variance % Variance
Personnel Expense 42,970,939 42,039,541 97.8% 39,760,459 39,946,912 100.5%2,092,629 5.2%
Operations Expense 31,546,031 27,967,629 88.7% 28,816,156 27,106,371 94.1% 861,258 3.2%
TOTAL 74,516,969 70,007,171 93.9% 68,576,615 67,053,283 97.8% 2,953,887 4.4%
2
F FY2020 Quarterly Report
Personnel and Operations Summary (excludes capital accounts)
Year‐to‐date personnel and operational expenditures for the Development & Planning Division totals $2.9 million
through the quarter or 90.2% of budget. Operational expenses total 73.4% year‐to‐date. The savings is due to fewer
than anticipated transportation impact analyses (TIA) and reduced annexation planning services after the legislative
session. These two savings total $320,828 and was incorporated in the FY2021 Budget development discussions.
The Public Works Division (Environmental Services, Public Works, and Streets) personnel and operational
expenditures through the 4th quarter totals $12.3 million or 91.2% of budget. The savings in Public Works is related
to vacancy savings, and lower than expected expenditures in street maintenance.
Year‐to‐date personnel and operational expenditures for Fire through the 4th quarter total $19.2 million or 95.4% of
budget. Staff was very conservative with mid‐year projections for Fire since overtime has been skewed to summer
months for vacations in the past. The department experienced savings is due to a combination of salary savings in
support services, and overtime/operational savings in operations. The department experienced a higher fill rate of
positions, which positively impacted overtime.
FY2020
Budget
FY2020
Actuals
% of FY2020
Budget
FY2019
Budget
FY2019
Actuals
% of FY2019
Budget YTD Variance % Variance
Expenditure
Administrative Services
Personnel Expense 2,190,818 2,106,733 96.2% 1,967,951 2,002,556 101.8% 104,177 5.2%
Operations Expense 739,924 523,515 70.8%671,827 573,246 85.3% (49,731) ‐8.7%
Administrative Services Total 2,930,742 2,630,249 89.7% 2,639,778 2,575,802 97.6% 54,447 2.1%
Community Services and Finance
Personnel Expense 8,859,056 8,041,458 90.8% 7,146,124 6,983,468 97.7% 1,057,990 15.1%
Operations Expense 6,105,582 5,038,941 82.5% 5,288,877 4,854,380 91.8% 184,561 3.8%
Community Services and Finance Total 14,964,638 13,080,399 87.4% 12,435,001 11,837,848 95.2% 1,242,551 10.5%
Development & Planning
Personnel Expense 2,446,509 2,348,105 96.0% 2,308,625 2,194,687 95.1% 153,417 7.0%
Operations Expense 837,719 615,296 73.4%714,668 412,273 57.7% 203,022 49.2%
Development & Planning Total 3,284,228 2,963,400 90.2% 3,023,293 2,606,961 86.2% 356,440 13.7%
Fire Services*
Personnel Expense 16,051,814 15,477,595 96.4% 15,104,380 14,516,204 96.1% 961,391 6.6%
Operations Expense 4,049,632 3,689,892 91.1% 3,632,363 3,572,437 98.4% 117,455 3.3%
Fire Services Total 20,101,446 19,167,487 95.4% 18,736,742 18,088,642 96.5% 1,078,845 6.0%
General Gov't Contracts
Personnel Expense (1,200,000) 30 0.0% (1,145,000) ‐0.0% 30
Operations Expense 4,643,750 4,202,610 90.5% 4,575,401 4,384,232 95.8% (181,621) ‐4.1%
General Gov't Contracts Total 3,443,750 4,202,640 122.0% 3,430,401 4,384,232 127.8% (181,592) ‐4.1%
Public Works and Environmental Services
Personnel Expense 1,888,823 1,536,651 81.4% 1,875,598 1,739,166 92.7% (202,515) ‐11.6%
Operations Expense 11,555,613 10,726,734 92.8% 10,275,620 9,772,322 95.1% 954,412 9.8%
Public Works and Environmental Services 13,444,436 12,263,384 91.2% 12,151,218 11,511,487 94.7% 751,897 6.5%
Police Services
Personnel Expense 12,733,919 12,528,970 98.4% 12,502,781 12,510,831 100.1% 18,139 0.1%
Operations Expense 3,613,811 3,170,642 87.7% 3,657,400 3,537,481 96.7% (366,839) ‐10.4%
Police Services Total 16,347,730 15,699,612 96.0% 16,160,181 16,048,312 99.3% (348,700) ‐2.2%
Expense Total 74,516,969 70,007,171 93.9% 68,576,615 67,053,283 97.8% 2,953,887 4.4%
*Fire Services Division includes EMS
3
F FY2020 Quarterly Report
Year‐to‐date personnel and operational expenditures for Police through the quarter totals $15.7 million or 96% of
budget.
Overall, General Fund expenditures are within budget and the fund can cover the 90‐day Contingency Reserve
Economic Stability Reserve and the Benefit Payout Reserve. Every division finishes FY2020 at or below budget, and
on the whole the fund’s expenditures are below projections. The excesses in revenue and savings in expenses are a
positive impact for the fund as a whole and reflect the conservative budget contingency plan implemented by city
management and council during the second half of the year. It is important to complete the year‐end third‐party
independent audit, and the Roll Forward Budget Amendment, before evaluating potential uses of these one‐time
monies falling to fund balance.
UTILITY FUNDS:
Electric Fund: The City has used multiple strategies in FY2020 to improve the performance of the Electric Fund in
relation to past and current expenditures for purchased power contracts. These strategies include increasing the
Power Cost Adjustment rate to recover revenue, reducing operating and capital expenditures in the electric utility,
selling utility assets, hiring a new General Manager, contracting professional services for energy portfolio
management and risk oversight.
The total annual operating revenue in the Electric Fund totals $95.2 million through the fourth quarter, or 105% of
budget, and 7% variance from projection. Electric revenue sales, the largest component of operating revenue, totals
$86.2 million. While there was a dip in consumption in the late spring at the beginning of the pandemic, consumption
improved in the latter half of the year. Other operating revenues, which is comprised of the shared services
chargeback allocation with Water, developer contributions, earned interest, and other revenue, totals $9 million
through the 4th quarter.
Total annual operating expenses in the Electric Fund total $81.5 million through the 4
th quarter. The savings
compared to budget and projections includes $1.8 million of labor costs that are eligible to charge toward capital
projects under non‐operating expense. Purchase power expenses total $61.5 million, while congestion revenue rights
(CRRs) credits total ‐$1.9 million, and renewable energy credits total $1.14 million. Net purchase power totals $58.5
million, which is $951,454 thousand less than budgeted in FY2020.
Non‐operating revenue totals $16.4 million through the fourth quarter of FY2020. This total includes bond proceeds
for capital projects in the amount of $5.1 million, or 100.9% of budget. Additionally, $9.7 million is included in non‐
operating revenue for the sale of transformers in FY2020.
Non‐operating expenditures totals $8.2 million through the fourth quarter. Expenditures include $4.2 million for
capital projects and $3.9 million for debt service payments. FY2020 non‐operating projections total $9.1 million, a
difference from 4th quarter actuals of ‐11.6%. Unutilized bond proceeds revenue and capital budget may be rolled
forward into FY2021.
Overall, the effort to manage the power portfolio, reduce operating expenditures, sell assets, and the Power Cost
Adjustment continue to improve the financial condition of the fund.
Staff recommends the following adjustments as part of the year‐end budget amendment. The year‐end projection
column of the fund schedule presented in this report is reflective of these proposed amendments. Staff has not
adjusted the budget column because at the time of this report Council has not acted on the proposed amendment.
The amendment includes recognizing a $4,200 transfer in from the Conservation Fund to cover Electric’s costs in
providing utility bill relief to customers as a result of the pandemic economic conditions. Council approved this
4
F FY2020 Quarterly Report
strategy over the summer. The amendment also recognizes a $600K benefit of selling a second segment of the City’s
fiber infrastructure asset to the Information Technology fund.
Pending the approval of the year‐end budget amendment, it is anticipated the fund will finish the year with an ending
fund balance of approximately $29 million. This balance covers the 90‐day operating contingency reserve of $4.1
million and begins to recover the rate stabilization reserve. Portions of the ending balance must also cover reserved
bond proceeds, and may be rolled forward for capital projects.
Water Fund: Overall water operating revenue totals $88 million, or 116.5% of budget and 112.1% of projections. The
City saw no effect of the COVID pandemic on water consumption and experienced higher than projected water sales
in the fiscal year. This fact also has a positive impact on ROI and Franchise Fees in the General Fund. Capital Recovery
Fees finished FY2020 higher than budget and higher than projected. Over the last three fiscal years, the City has seen
strong growth in this revenue stream as build out continues inside the City and in the Western District.
Water operating expenses total $45.1 million, or 92.5% of budget and 96.2% of projections. The fund experienced
some operational savings in utilities, legal services, and contracts.
Non‐operating revenues total $10.1 million and include bond proceeds for capital projects and sale of assets to
Leander. The “Transfer In – Debt payment” of $104K from GEDCO is posted to Other Revenue. Non‐operating
expenses total $19.4 million. The Capital Improvement budget in the Water Fund totals $95.5 million. Many CIP
projects are in the beginning stages which includes design, engineering, and/or studies. These projects will have
significantly larger year‐to‐date expenditures in future years as construction begins. For these multi‐year projects,
staff will bring forward a CIP rollforward amendment in January to move unspent funds from FY2020 into the FY2021
Budget. The debt service actuals for FY2020 total $4.4 million, or 97% of budget.
Ending available fund balance of $106.2 million is $93.7 million higher than projected. However, this balance is
comprised of prior year bond proceeds, impact fees and CIP projects that will roll forward and be spent in FY2021
and forward.
OTHER MAJOR FUNDS:
Convention & Visitors Bureau Fund: The COVID‐19
pandemic significantly impacted the tourism sector.
Overall revenue in the fund totals $1.1 million, or 76.5%
of budget. Hotel Occupancy Tax revenue totals $984,751
through the 4th quarter, or 76% of budget. Year‐end
Hotel Occupancy Tax exceeds projections by $84,751, or
9.4%. Staff have continued to market Georgetown and
are pleased to see occupancy rates recovering slowly but
steadily.
Year to date expenses in the Convention & Visitors
Bureau Fund total $1 million, or 69.4% of budget and
76.2% of projection. The fund experienced operational
savings as many tourism related events were cancelled
from the impact of COVID‐19. The fund finished FY2020 with an unaudited available fund balance of $199,046 and
meets the 90‐day operational reserve.
Airport Fund: Airport operating revenue totals $3.3 million, which represents 86% of budget, and 92.5% of
projections. Fuel Sales are the largest segment of revenue and are less than Budget. With the depressed price on
‐
50,000
100,000
150,000
200,000
Oct Nov Dec Jan Feb Mar AprMay Jun Jul Aug Sep
HOT Revenue
2015 2016 2017
2018 2019 FY2020
5
F FY2020 Quarterly Report
fuel, the City is selling gas at a lesser rate than budgeted. However, the cost of the fuel is also below the budgeted
amount in expenses.
Operation expenses in the Airport fund total $3.1 million, or 77.7% of budget and 87.9% of projections. Non‐
operating expenses total $146,562 for debt payments.
Overall, the fund has positive cash flow and can meet its debt service and contingency requirements, with an available
ending available fund balance of $970,907.
II. INVESTMENTS
The investment activity and strategies described in this report comply with the Public Funds Investment Act (PFIA),
the City’s investment policy, and generally accepted accounting principles. Activity for the fourth quarter of fiscal
year 2020 includes the maturing of financial institution deposits (CDs), reinvestment of CD’s, and investing of
consolidated funds in CD’s. 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, since March. The Federal Open Market Committee (FOMC) expect to keep the Federal Funds rate
around 0% ‐ .25% due to the COVID‐19 pandemic and the impacted economy for an extended period of time. These
are the lowest rates we have seen since December 2008. The City will continue soliciting for the best rates to improve
both diversity and yield, while keeping in mind safety and liquidity. Additionally, the fourth quarter includes August
principle and interest payments for tax‐supported and utility revenue debt.
The Investment Reports for the quarter ending September 30, 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 September 30, 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 63%, debt service at 5%, and bond proceeds at 32%.
CITY Book Value GTEC GEDCO
6/30/20 9/30/20 6/30/20 9/30/20 6/30/20 9/30/20
Total cash and investments
$249,992,313 $240,298,554 $29,222,450 $29,285,179 $9,347,002 $9,892,111
Quarter End Average Yield .74% .54% .52% .17% .55% .47%
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 of 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 of 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.
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F FY2020 Quarterly Report
The City continues to work 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.
Staff has worked diligently to utilize the project module in the new Enterprise Resource Planning system, Workday,
for the City’s CIP reporting. A life‐to‐date schedule for each of the approved projects is included in the quarterly
report. This means the budget and spending in the report are for all fiscal years of the project, not just FY2020 or
the fourth quarter. This view provides a more comprehensive picture of the City’s capital program.
Projects are grouped based on fund, division, and cost center. Highlights of the 4th quarter of 2020 include the
opening of Fire Stations 6 and 7, completed sidewalk projects, and completed parks improvements.
7
COG - General Fund Financial ReportPeriodFY 2020 - SepLedger Account Approved BudgetCurrent PeriodYear to Date (w/Encumbrance)Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionBeginning Fund Balance 14,263,750 - 14,263,750 14,263,750 - 100.00%RevenueAdministrative Charges2,707,730 226,478 2,717,730 2,707,730 10,000 100.37%Other Revenue2,638,420 70,424 2,828,603 2,946,785 (118,182) 95.99%Development and Permit 3,804,250 628,456 5,549,541 4,555,550 993,991 121.82%Franchise Fees5,910,270 750,643 5,757,843 5,912,057 (154,213) 97.39%Parks and Rec Fees2,833,100 106,563 1,548,339 1,476,005 72,334 104.90%Property Tax14,900,000 43,730 15,060,590 14,915,295 145,295 100.97%ROI8,060,000 383,569 8,503,933 8,060,000 443,933 105.51%Sales Tax17,861,875 5,149,172 19,108,465 17,946,250 1,162,215 106.48%Sanitation Revenue9,933,450 865,863 10,112,935 9,933,450 179,485 101.81%Fire/EMS revenue7,156,152 1,865,090 7,367,065 6,849,385 517,680 107.56%Transfers In373,100 69,466 373,100 373,100 - 0.00%Revenue Total76,178,34710,159,45478,928,14575,675,6073,252,538 104.30%ExpenseAdministrative Services 1,933,851 131,646 1,734,398 1,675,228 (59,171) 103.53%Animal Services989,50758,916913,514967,657 54,143 94.40%Arts & Culture36,7292,52644,40553,694 9,289 82.70%City Council177,60811,543161,758169,049 7,291 95.69%City Secretary819,28364,385734,092761,473 27,381 96.40%Code Enforcement524,38244,063417,111439,142 22,031 94.98%Communications684,45334,844501,726608,209 106,482 82.49%Community Services265,73823,066252,580253,593 1,013 99.60%Environmental Services8,532,3551,451,5848,450,6808,480,012 29,332 99.65%Fire Emergency Services14,312,200723,78914,004,38214,426,111 421,729 97.08%Fire Support Services3,160,344171,3363,293,0903,351,268 58,178 98.26%Fire EMS2,864,866224,3472,373,0152,532,757 159,742 93.69%Garey Park976,61246,340815,939914,087 98,148 89.26%General Gov't Contracts3,443,750290,7394,148,4344,339,251 190,817 95.60%Inspections1,347,04078,0691,309,3261,282,436 (26,890) 102.10%Library2,788,513142,8712,746,8272,702,504 (44,323) 101.64%Municipal Court664,06312,062571,075605,084 34,008 94.38%Parks2,781,344153,5892,486,7552,640,419 153,665 94.18%Parks Admin624,95338,359601,276619,947 18,671 96.99%Planning1,937,18984,0441,654,0741,656,891 2,817 99.83%Police Admin2,632,662175,6072,411,8732,659,080 247,207 90.70%Police Operations13,821,765723,48613,388,21513,390,524 2,308 99.98%Public Works1,469,053126,5901,040,6711,235,203 194,531 84.25%Rec Programs1,370,70732,173784,9091,098,537 313,628 71.45%8
Recreation2,798,284155,8942,658,8712,686,073 27,202 98.99%Streets5,261,012204,6543,810,0934,071,354 261,261 93.58%Tennis Center464,35420,040353,704351,183 (2,522) 100.72%Transfer Out524,8600457,860524,860 67,000 87.23%Expense Total77,207,4745,226,56172,120,65674,495,6242,374,968 96.81%Excess (Deficiency) of Total Revenue over Total Requirements(1,029,127)4,932,8936,807,4891,179,9835,627,506 576.91%Ending Fund Balance13,234,6234,932,89321,071,23915,443,7335,627,506 136.44%ReservesContingency Reserve11,414,340- 11,414,34011,414,340 - 100.00%Economic Stability Reserve1,480,283- 1,759,446 1,759,446 - 100.00%Benefit Payout Reserve340,000- 340,000340,000 - 100.00%Total Reserved Fund 13,234,623- 13,513,78613,513,786 100.00%Available Fund Balance04,932,8937,557,4531,929,9475,627,506 391.59%9
COG - Electric Fund Financial ReportPeriod FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionBeginning Fund Balance6,614,742 - 6,614,742 6,614,742 - 100.00%Operating RevenueElectric Revenue 85,509,803 7,806,289 86,150,073 82,530,271 3,619,802 104.39%Interest 40,000 1,464 10,703 10,000 703 107.03%Other Revenue 4,498,616 1,707,249 4,539,266 4,515,348 23,918 100.53%Developer Contributions 600,000 991,625 4,476,298 2,000,000 2,476,298 223.81%Operating Revenue Total 90,648,419 10,506,626 95,176,341 89,055,619 6,120,722 106.87%Operating ExpendituresCRR Credits (2,000,000) (222,433) (1,858,623) (1,698,472) 160,151 109.43%Electric Operations 20,282,587 (757,052) 17,360,443 19,448,613 2,088,170 89.26%Purchase Power 61,500,000 5,333,752 61,542,930 61,198,472 (344,458) 100.56%Transfers Out - ROI 4,500,000 - 4,500,000 4,500,000 (0) 100.00%Operating Expenditures Total84,282,587 4,354,267 81,544,750 83,448,613 1,903,863 97.72%Total Net Operations6,365,832 6,152,359 13,631,591 5,607,006 8,024,585 243.12%Non-Operating RevenueRenewable Energy Credits - 258,500 1,135,761 - 1,135,761 0.00%Grant Revenue - 1,860 1,860 - 1,860 0.00%Bond Proceeds 5,010,000 - 5,055,000 5,010,000 45,000 100.90%Transfers In 500,000 500,000 500,000 500,000 - 100.00%Sale of Assets 10,000 9,661,890 9,678,188 10,261,000 (582,812) 94.32%Non-Operating Revenue Total5,520,000 10,422,251 16,370,809 15,771,000 599,809 103.80%Non-Operating ExpendituresCIP 5,110,948 2,344,108 4,228,906 5,010,000 781,094 84.41%Interest Expense 1,224,183 - 1,181,242 1,224,183 42,941 96.49%Debt Service 2,866,312 - 2,742,862 2,866,312 123,450 95.69%Non-Operating Expenditures Total9,201,442 2,344,108 8,153,010 9,100,495 947,485 89.59%Total Net Non-Operations(3,681,442) 8,078,143 8,217,799 6,670,505 1,547,294 123.20%Excess (Deficiency) of Total Revenue Over Total Requirements2,684,390 14,230,502 21,849,390 12,277,511 9,571,879 177.96%Ending Fund Balance9,299,132 14,230,502 28,464,132 18,892,253 9,571,879 150.67%ReservesContingency Reserve4,142,159 - 4,190,234 4,190,234 - 100.00%Non-operating Reserve4,555,000 - 13,402,019 13,402,019 - 100.00%Reserved Bond Proceeds3,477,046 1,300,000 (2,177,046) 10
Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionTotal Reserved Fund Balance8,697,159 - 21,069,299 18,892,253 (2,177,046) 111.52%Available Fund Balance601,973 14,230,502 7,394,833 - 7,394,833 0.00%11
COG - Water Fund Financial ReportPeriod FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav)% of ProjectionBeginning Fund Balance92,139,373 - 92,139,37392,139,373 - 100.00%Operating RevenueCapital Recovery Fee 26,550,000 380,342 28,552,315 26,449,377 2,102,938 107.95%Interest 949,500 35,616 1,455,489 1,045,052 410,437 139.27%Irrigation Charges 310,000 99,571 513,679 310,000 203,679 165.70%Other Revenue 3,450,300 846,121 7,591,503 6,201,391 1,390,112 122.42%Wastewater Charges 13,298,825 1,145,944 14,322,255 13,500,000 822,255 106.09%Water Charges 30,869,778 3,576,766 35,453,977 30,881,001 4,572,976 114.81%Total Operating Revenue 75,428,403 6,084,360 87,889,217 78,386,821 9,502,396 112.12%Operating ExpensesIrrigation Operations 290,000 21,370 249,041 290,000 40,959 85.88%Transfer Out, ROI 3,300,000 359,055 4,115,327 3,300,000 (815,327) 124.71%Transfer Out 467,733 68,233 68,233 399,500 331,267 17.08%Wastewater Operations 6,230,509 2,865,265 5,128,377 4,266,100 (862,277) 120.21%Wastewater Plant Management3,316,576 206,166 3,169,7003,538,422 368,72289.58%Water Administration23,204,199 2,935,004 22,700,31224,565,931 1,865,61992.41%Water Distribution4,186,426 269,388 2,504,8662,756,113 251,24790.88%Water Operations4,277,280 211,415 3,975,0564,136,579 161,52396.10%Water Plant Management3,482,597 277,426 3,177,4953,596,243 418,74888.36%Total Operating Expenses48,755,320 7,213,322 45,088,406 46,848,888 1,760,48196.24%Total Net Operations26,673,083 (1,128,962) 42,800,810 31,537,933 11,262,877135.71%Non-Operating RevenueBond Proceeds 9,300,000 - 9,375,000 9,375,000 0 100.00%Grant Revenue - - 0 - 0 0.00%Transfers In - Debt 104,211 - 0 104,211 (104,211) 0.00%Sale of Assets 1,500 - 735,404 735,404 0 100.00%Non-Operating Revenue Total9,405,711 - 10,110,40410,214,615 (104,211)98.98%Non-Operating ExpendituresInterest Expense 2,150,937 (2,470) 2,082,610 2,150,937 68,326 96.82%CIP 95,488,428 1,684,193 12,929,709 95,494,449 82,564,740 13.54%Debt Service 4,491,481 750 4,357,862 4,300,481 (57,381) 101.33%Non-Operating Expenditures Total102,130,846 1,682,473 19,370,181 101,945,867 82,575,685 19.00%Total Net Non-Operations (92,725,135) (1,682,473) (9,259,777) (91,731,252) 82,471,474 10.09%Excess (Deficiency) of Total Revenue over Total Requirements(66,052,052) (2,811,434) 33,541,033 (60,193,318) 93,734,351 -55.72%12
Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav)% of ProjectionEnding Fund Balance26,087,321 (2,811,434) 125,680,406 31,946,055 93,734,351393.41%ReservesContingency Reserve9,480,045 - 9,480,0459,480,04500.00%Non-Operating Contingency10,000,000 - 10,000,00010,000,00000.00%Total Reserved Fund Balance19,480,045 - 19,480,045 19,480,045 00.00%Available Fund Balance6,607,276 (2,811,434) 106,200,361 12,466,010 93,734,351851.92%13
COG - Joint Services Fund Financial ReportPeriod FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance)Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionBeginning Fund Balance1,415,206 - 1,415,206 1,415,206 - 100.00%RevenueAdministrative Charges 17,691,145 1,391,067 17,691,145 17,640,111 51,034 100.29%Interest 25,000 724 20,038 13,000 7,038 154.14%Other 103,000 101,295 260,960 106,695 154,265 244.58%Transfers In 313,405 18,346 313,405 331,751 (18,346) 94.47%Revenue Total 18,132,550 1,511,432 18,285,548 18,091,557 193,991 101.07%ExpenseAccounting 1,128,153 56,598 1,099,921 1,124,962 25,041 97.77%Business System Services 1,198,892 68,689 1,075,563 1,043,437 (32,126) 103.08%Citywide HR 1,331,061 65,069 1,001,744 1,087,621 85,877 92.10%Conservation 894,920 56,806 589,587 731,365 141,779 80.61%Customer Care 5,115,459 373,699 5,015,939 5,020,817 4,878 99.90%Economic Development 687,049 27,094 568,546 605,918 37,372 93.83%Finance Administration 1,050,021 55,503 941,310 963,711 22,401 97.68%Human Resources 1,447,934 120,551 1,320,294 1,320,069 (224) 100.02%Legal 1,063,008 72,396 1,030,141 993,354 (36,787) 103.70%Non-departmental 741,193 297,012 1,566,958 1,089,171 (477,787) 143.87%Organizational and Operational Excellence329,898 34,849 287,241 299,152 11,911 96.02%Purchasing 923,989 70,298 877,266 888,375 11,108 98.75%Systems Engineering 2,565,963 92,425 2,314,004 2,306,340 (7,664) 100.33%Expense Total 18,477,541 1,390,988 17,688,514 17,474,293 (214,221) 101.23%Excess (Deficiency) of Total Revenue over Total Requirements(344,991) 120,444 597,034 617,264 (20,230) 96.72%Ending Fund Balance1,070,215 120,4442,012,2402,032,470(20,230) 99.00%ReservesContingency Reserve1,070,215 01,070,2151,070,215 - 0.00%Total Reserve Balance1,070,215 01,070,2151,070,215 - 0.00%Available Fund Balance0 0942,025962,255 (20,230) 97.90%14
COG - Council Discretionary Fund Financial ReportPeriod FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumberance) Year-End Projection Year-End Variance Fav/(Unfav)% of ProjectionBeginning Fund Balance109,415 - 109,415 109,383 32100.03%RevenueInterest2,500 41 1,582 1,789 (207)88.42%Transfers In- - - - 00.00%Revenue Total2,500 41 1,582 1,789 (207)88.42%ExpenseTransfers Out - - - - 0 0.00%Expense Total - - - - 0 0.00%Excess (Deficiency) of Total Revenue over Total Requirements2,500 41 1,582 1,789 (207) 88.42%Ending Fund Balance 111,915 41 110,997 111,172 (175) 99.84%Available Fund Balance111,915 - 110,997 111,172 (175) 99.84%15
COG - Convention & Visitors Bureau (CVB) Fund Financial ReportPeriod FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionBeginning Fund Balance1,551,889 - 1,551,889 1,551,889 - 100.00%RevenueHotel/Motel Occupancy Tax Revenues1,300,000 151,838 984,751 900,000 84,751 109.42%Interest 18,000 599 21,323 20,594 729 103.54%Other 18,500 439 38,792 36,859 1,933 105.24%Poppy Festival 144,283 (4) 87,577 91,155 (3,578) 96.08%Revenue Total 1,480,783 152,872 1,132,443 1,048,608 83,835 107.99%ExpenseOperations 798,752 21,724 556,657 771,067 214,410 72.19%Personnel 413,567 10,441 367,959 374,401 6,442 98.28%Poppy Festival 211,700 - 55,025 149,478 94,453 36.81%Transfers Out 28,634 - 28,634 28,634 - 100.00%Expense Total1,452,654 32,165 1,008,276 1,323,580 315,304 76.18%Excess (Deficiency) of Total Revenue over Total Requirements28,129 120,708 124,168 (274,972) 399,139 (45.16%)Ending Fund Balance1,580,018 - 1,676,057 1,276,917 399,139 131.26%ReservesContingency Reserve273,376 - 273,376 273,376 - 0Capital Reserve1,203,635 - 1,203,635 1,203,635 - 0Total Reserved Fund Balance1,477,011 - 1,477,011 1,477,011 - 100.00%Available Fund Balance103,007 - 199,046 (200,094) 399,139 (99.48%)16
COG - Airport Operations Fund Financial ReportPeriod FY2020 ‐ Sep Ledger Account Approved Budget Current Period Year To Date (w/Encumbrance) Year-End Projections Year-End Variance Fav/(Unfav) % of ProjectionBeginning Fund Balance1,259,036 - 1,259,036 1,259,036 - 100%Operating RevenueFuel and Terminal Sales2,901,500 209,614 2,303,549 2,502,000 (198,451) 92%Interest and Other51,000 57,479 75,841 52,600 23,241 144%Grant Revenue‐ 40,334 40,337 153,000 (112,663) 26%Leases and Rentals928,500 78,162 923,593 906,500 17,093 102%Operating Revenue Total3,881,000 385,589 3,343,320 3,614,100 (270,780) 93%Operating ExpendituresOperations-Fuel2,270,000 162,996 1,756,318 2,200,609 444,291 80%Operations-Non Fuel878,327 81,790 780,143 803,487 23,345 97%Personnel501,098 27,697 438,514 475,573 37,059 92%Operating Capital323,566 88,859 110,461 28,000 (82,461) 395%Operating Expenditures Total3,972,991 361,342 3,085,435 3,507,669 422,234 88%Total Net Operations(91,991) 24,247 257,885 106,431 151,454 242%Non-Operating RevenueBond Proceeds‐ ‐ ‐ ‐ ‐ 0.00%Non-Operating Revenue Total‐ ‐ ‐ ‐ ‐ 0.00%Non-Operating ExpendituresCIP Expense‐ ‐ ‐ ‐ ‐ 0.00%Debt Service101,358 ‐ 86,500 86,358 (142) 99.84%Interest Expense60,062 2,470 60,062 60,062 (0) 100.00%Non-Operating Expenditure Total161,420 2,470 146,562 146,420 (142) 99.90%Total Net Non-Operations(161,420) (2,470) (146,562) (146,420) (142) 100%Excess (Deficiency) of Total Revenue over Total Requirements(253,411) 21,777 111,323 (39,989) 151,312 ‐278%Ending Fund Balance 1,005,625 21,777 1,370,359 1,219,047 151,312 112.41%ReservesContingency Reserve256,021 ‐ 256,021 256,021 ‐ 0.00%Debt Service Reserve143,431 ‐ 143,431 143,431 ‐ 0.00%Total Reserved Fund Balance399,452 ‐ 399,452 399,452 ‐ 0.00%Available Fund Balance606,173 21,777 970,907 819,595 151,312 118.46%17
COG - Georgetown Transportation Enchancement Corporation (GTEC) Fund Financial ReportPeriod FY2020 - SEP Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionBeginning Fund Balance 21,649,668 - 21,649,668 21,649,668 - 100.00%Operating RevenueSales Tax7,937,500 2,288,300 8,491,326 7,975,000 516,326 106.47%Interest230,000 3,816 272,223 225,000 47,223 120.99%Other Revenue- - - - - 0.00%Operating Revenue Total8,167,500 2,292,116 8,763,548 8,200,000 563,548 106.87%Operating ExpendituresAdministrative Support 410,223 34,119 409,806 410,223 417 99.90%Operating Expenditures Total410,223 34,119 409,806 410,223 417 99.90%Total Net Operations 7,757,277 2,257,997 8,353,742 7,789,777 563,965 107.24%Non-Operating RevenueBond Proceeds4,700,000 - 4,740,000 4,700,000 40,000 100.85%Transfers In- - - - - 0.00%Non-Operating Revenue Total4,700,000 - 4,740,000 4,700,000 40,000 100.85%Non-Operating ExpenditureEconomic Development Agreements1,984,375 - - - - 0.00%Strategic Partnerships 2,000,000 - - 2,000,000 2,000,000 0.00%CIP Expense 15,259,855 14,602 431,251 15,259,855 14,828,605 2.83%Debt Service 3,333,921 - 3,282,461 3,333,921 51,460 98.46%Non-Operating Expenditure Total22,578,151 14,602 3,713,712 20,593,776 16,880,064 18.03%Total Net Non-Operations (17,878,151) (14,602) 1,026,288 (15,893,776) 16,920,064 (6.46%)Excess (Deficiency) of Total Revenue over Total Requirements(10,120,874) 2,243,396 9,380,031 (8,103,999) 17,484,030 (115.75%)Ending Fund Balance11,528,794 2,243,396 31,029,699 13,545,669 17,484,030 229.07%18
Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionReservesContingency Reserve 1,984,375 - 1,984,375 1,984,375 - 0.00%Debt Service Reserve 3,225,642 - 3,225,642 3,225,642 - 0.00%Total Reserved Fund Balance5,210,017 - 5,210,017 5,210,017 - 0.00%Available Fund Balance6,318,777 - 25,819,682 8,335,652 17,484,030 309.75%19
COG - Georgetown Economic Development Corporation (GEDCO) Fund Financial ReportPeriod FY2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionBeginning Fund Balance8,138,781 - 8,138,781 8,138,781 - 100.00%Operating RevenueInterest 76,000 1,300 98,282 85,020 13,262 115.60%Sales Tax 1,984,375 572,075 2,122,831 1,993,750 129,081 106.47%Other Revenue - - - - - 0.00%Operating Revenue Total 2,060,375 573,375 2,221,114 2,078,770 142,344 106.85%Operating ExpendituresMiscellaneous Expense 295,173 - - - - 0.00%Promotional & Marketing Program3,361 6,146 68,778 100,000 31,222 68.78%Contractual Services 30,000 10,000 27,587 15,123 (12,464) 182.41%Administrative Expenses 244,771 20,398 244,771 244,771 0 100.00%Travel & Training 500 - 92 - (92) 0.00%Supplies - - - - - 0.00%Operating Expenditures Total573,805 36,544 341,227 359,894 18,667 94.81%Total Net Operations1,486,570 536,831 1,879,887 1,718,876 161,011 109.37%Non-Operating RevenueBond Proceeds- - - - - 0.00%Bond Premium- - - - - 0.00%Transfers In- - - - - 0.00%Non-Operating Revenue Total- - - - - 0.00%Non-Operating ExpendituresPrincipal Reduction 83,695 83,695 83,695 83,695 - 100.00%Debt Service 207,669 - 207,789 207,669 (120) 100.06%Interest Expense 20,516 20,516 20,516 20,516 - 100.00%Strategic Partnership 8,613,855 - 804,551 700,000 (104,551) 114.94%Non-Operating Expenditures Total8,925,735 104,211 1,116,551 1,011,880 (104,671) 110.34%Total Net Non-Operations (8,925,735) (104,211) (1,116,551) (1,011,880) (104,671) 110.34%Excess (Deficiency) of Total Revenue over Total Requirements(7,439,165) 432,620 763,335 706,996 56,339 107.97%Ending Fund Balance699,616 432,620 8,902,116 8,845,777 56,339 100.64%20
Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of ProjectionReservesContingency Reserve 489,298 - 489,298 489,298 - 0.00%Non-Operational Reserve 210,318 - 210,318 210,318 - 0.00%Bond Proceeds Reserve - - - - - 0.00%Total Reserved Fund Balance699,616 - 699,616 699,616 - 0.00%Available Fund Balance 0 8,202,500 8,146,161 56,339 100.69%21
CITY
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2020
Prepared by
Valley 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 Wilson Leigh Wallace
Controller Finance Director
___________________________________
Karrie Pursley
Treasurer
Disclaimer: 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.
22
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Demand Accounts 0.52%6,140,421$ 6,140,421$ 0.26%9,505,298$ 9,505,298$
NOW/MMA 2.21%20,080,071 20,080,071 0.87%15,087,991 15,087,991
Pools 2.12%80,054,900 80,054,900 0.14%103,065,896 103,065,896
CDs/Securities 2.65%72,607,471 72,611,429 0.89%112,639,369 112,640,201
Totals 178,882,862$ 178,886,821$ 240,298,554$ 240,299,385$
Fourth Quarter-End Yield 2.29%0.54%
Average Quarter-End Yields (1):
2019 Fiscal Year 2020 Fiscal Year
Georgetown-City 2.36%1.15%
Rolling Three Month Treasury 2.30%0.76%
Rolling Six Month Treasury 2.37%0.99%
TexPool 2.31%0.75%
(1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2019
Annual Comparison of Portfolio Performance
September 30, 2020
Valley View Consulting, L.L.C.23
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Demand Accounts 9,511,536$ 9,511,536 9,505,298$ 9,505,298$ 0.26%
NOW/MMA 21,787,639 21,787,639 15,087,991 15,087,991 0.87%
Pools 135,563,839 135,563,839 103,065,896 103,065,896 0.14%
CDs/Securities 83,129,298 83,138,997 112,639,369 112,640,201 0.89%
Totals 249,992,313$ 250,002,012$ 240,298,554$ 240,299,385$ 0.54%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.54%Total Portfolio 1.15%
Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76%
Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99%
TexPool 0.15%TexPool 0.75%
Bank Fees Offset
5,077$
Interest income provided in separate report.30,413$
June 30, 2020
(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.
Quarterly Bank Fees Offset
Year-to-date Bank Fees Offset
September 30, 2020
Valley View Consulting, L.L.C.24
Economic Overview9/30/2020The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%), and projected that reduced rates could remain through 2024. Final estimate of Second Quarter GDP revised to down 31.4% (from down 31.9%). The Yield Curve remained stable. Crude oil slid to below $40 per barrel. September Non Farm Payroll added 661k workers. Business added over 800k, but governments shed 200+k. The Stock Markets retreated slightly from all-time highs. Housing strengthened due to low mortgage rates. Additional federal economic assistance remained stalled in Congress.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,750S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.200.400.600.801.001.201.401.601.802.00Treasury Yield CurvesSeptember 30, 2019June 30, 2020September 30, 20200.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.25
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
JPMorgan Chase Cash (3)0.26%10/01/20 09/30/20 9,505,298$ 9,505,298$ 1.00 9,505,298$ 1 0.26%
JPMorgan Chase MMA 0.05%10/01/20 09/30/20 433,983 433,983 1.00 433,983 1 0.05%
Veritex Bank MMA 0.20%10/01/20 09/30/20 3,210,906 3,210,906 1.00 3,210,906 1 0.20%
NexBank MMA 0.45%10/01/20 09/30/20 7,355,685 7,355,685 1.00 7,355,685 1 0.45%
Origin Bank MMA 2.25%10/01/20 09/30/20 4,087,417 4,087,417 1.00 4,087,417 1 2.25%
TexPool AAAm 0.15%10/01/20 09/30/20 28,793,102 28,793,102 1.00 28,793,102 1 0.15%
TexSTAR AAAm 0.13%10/01/20 09/30/20 74,272,794 74,272,794 1.00 74,272,794 1 0.13%
T-Bill Aaa/AA+0.00%10/08/20 10/17/19 2,500,000 2,499,139 99.999 2,499,970 8 1.60%
Independent Bank CD 1.85%10/18/20 10/18/19 2,534,811 2,534,811 100.00 2,534,811 18 1.86%
East West Bank CD 0.55%11/09/20 05/08/20 3,006,607 3,006,607 100.00 3,006,607 40 0.55%
Independent Bank CD 2.56%11/10/20 05/10/19 1,032,494 1,032,494 100.00 1,032,494 41 2.58%
R Bank CD 1.76%11/19/20 02/19/20 2,521,930 2,521,930 100.00 2,521,930 50 1.78%
Southside Bank CD 1.72%11/19/20 11/19/19 3,258,686 3,258,686 100.00 3,258,686 50 1.73%
East West Bank CD 1.71%12/09/20 12/09/19 4,056,045 4,056,045 100.00 4,056,045 70 1.72%
East West Bank CD 1.71%01/08/21 01/08/20 3,037,761 3,037,761 100.00 3,037,761 100 1.72%
Independent Bank CD 1.70%02/05/21 02/05/20 3,126,261 3,126,261 100.00 3,126,261 128 1.71%
Independent Bank CD 0.60%02/08/21 05/08/20 11,016,636 11,016,636 100.00 11,016,636 131 0.60%
East West Bank CD 0.32%02/18/21 08/18/20 9,003,472 9,003,472 100.00 9,003,472 141 0.32%
R Bank CD 1.81%02/19/21 02/19/20 4,036,263 4,036,263 100.00 4,036,263 142 1.83%
Bank OZK CD 1.72%02/26/21 02/27/20 6,060,233 6,060,233 100.00 6,060,233 149 1.73%
Southside Bank CD 0.21%03/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 162 0.21%
Bank OZK CD 0.25%03/11/21 09/11/20 1,500,000 1,500,000 100.00 1,500,000 162 0.25%
East West Bank CD 0.29%03/15/21 09/14/20 3,500,473 3,500,473 100.00 3,500,473 166 0.29%
Prosperity Bank CD 0.45%04/01/21 07/01/20 4,004,525 4,004,525 100.00 4,004,525 183 0.45%
Independent Bank CD 1.80%04/22/21 10/22/19 4,155,537 4,155,537 100.00 4,155,537 204 1.81%
Bank OZK CD 0.70%05/10/21 05/08/20 12,028,372 12,028,372 100.00 12,028,372 222 0.70%
Southside Bank CD 0.22%06/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 254 0.22%
Bank OZK CD 0.30%06/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 254 0.30%
Prosperity Bank CD 0.60%07/01/21 07/01/20 4,006,033 4,006,033 100.00 4,006,033 274 0.60%
Prosperity Bank CD 0.70%07/15/21 07/15/20 5,007,459 5,007,459 100.00 5,007,459 288 0.70%
East West Bank CD 0.32%08/18/21 08/18/20 2,000,772 2,000,772 100.00 2,000,772 322 0.32%
Prosperity Bank CD 0.40%08/23/21 08/21/20 6,245,860 6,245,860 100.00 6,245,860 327 0.40%
TOTALS 240,299,415$ 240,298,554$ 240,299,385$ 81 0.54%
(1)(2)
September 30, 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.
(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.26
0–6 Months
80%
6–12 Months
20%
12–18 Months
0%
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
$250,000,000
$275,000,000
09/30/19 12/31/19 03/31/20 06/30/20 09/30/20
Portfolio Balances
Money Market
Local Depository
TexSTAR
TexPool
Certificate of Deposit
US Treasury
166174166
102
69
90
7375
109104
123
156163
97108
87
51
67
4941
91
73
6154
99
71
124
95100
8070676358
81
0
50
100
150
200
# of DaysWeighted Average to Maturity JPMorgan Chase
4%Southside
Bank
6%
Prosperity Bank
8%
Veritex Bank
1%
Bank OZK
10%
NexBank
3%
TexPool
12%TexSTAR31%
Independent
Bank
9%
Origin Bank
2%
East West Bank
10%
R Bank3%
T-Bill
1%
Portfolio Holdings by Issuer
Valley View Consulting, L.L.C.27
City - Book & Market Value Comparison
Issuer/Description Yield Maturity Date Book Value
06/30/20 Increases Decreases Book Value
09/30/20
Market Value
06/30/20
Change in
Market Value
Market Value
09/30/20
JPMorgan Chase Cash 0.26%10/01/20 9,511,536$ –$ (6,238)$ 9,505,298$ 9,511,536$ (6,238)$ 9,505,298$
JPMorgan Chase MMA 0.05%10/01/20 433,929 54 – 433,983 433,929 54 433,983
Veritex Bank MMA 0.20%10/01/20 3,208,928 1,977 – 3,210,906 3,208,928 1,977 3,210,906
NexBank MMA 0.45%10/01/20 7,346,749 8,936 – 7,355,685 7,346,749 8,936 7,355,685
Origin Bank MMA 2.25%10/01/20 10,798,033 – (6,710,616) 4,087,417 10,798,033 (6,710,616) 4,087,417
TexPool 0.15%10/01/20 45,475,841 – (16,682,739) 28,793,102 45,475,841 (16,682,739) 28,793,102
TexSTAR 0.13%10/01/20 90,087,998 – (15,815,204) 74,272,794 90,087,998 (15,815,204) 74,272,794
East West Bank CD 2.48%07/15/20 5,152,781 – (5,152,781) – 5,152,781 (5,152,781) –
East West Bank CD 1.72%08/04/20 6,546,565 – (6,546,565) – 6,546,565 (6,546,565) –
R Bank CD 2.10%08/16/20 2,031,778 – (2,031,778) – 2,031,778 (2,031,778) –
R Bank CD 1.17%08/16/20 1,013,818 – (1,013,818) – 1,013,818 (1,013,818) –
Prosperity Bank CD 2.66%08/21/20 6,215,859 – (6,215,859) – 6,215,859 (6,215,859) –
T-Bill 1.60%10/08/20 2,489,236 9,903 – 2,499,139 2,498,935 1,035 2,499,970
Independent Bank CD 1.86%10/18/20 2,523,205 11,606 – 2,534,811 2,523,205 11,606 2,534,811
East West Bank CD 0.55%11/09/20 3,002,442 4,165 – 3,006,607 3,002,442 4,165 3,006,607
Independent Bank CD 2.58%11/10/20 1,025,893 6,602 – 1,032,494 1,025,893 6,602 1,032,494
R Bank CD 1.78%11/19/20 2,510,767 11,163 – 2,521,930 2,510,767 11,163 2,521,930
Southside Bank CD 1.73%11/19/20 3,244,620 14,067 – 3,258,686 3,244,620 14,067 3,258,686
East West Bank CD 1.72%12/09/20 4,038,601 17,444 – 4,056,045 4,038,601 17,444 4,056,045
East West Bank CD 1.72%01/08/21 3,024,696 13,065 – 3,037,761 3,024,696 13,065 3,037,761
Independent Bank CD 1.71%02/05/21 3,112,959 13,302 – 3,126,261 3,112,959 13,302 3,126,261
Independent Bank CD 0.60%02/08/21 11,000,000 16,636 – 11,016,636 11,000,000 16,636 11,016,636
East West Bank CD 0.32%02/18/21 – 9,003,472 – 9,003,472 – 9,003,472 9,003,472
R Bank CD 1.83%02/19/21 4,017,891 18,372 – 4,036,263 4,017,891 18,372 4,036,263
Bank OZK CD 1.73%02/26/21 6,034,021 26,213 – 6,060,233 6,034,021 26,213 6,060,233
Southside Bank CD 0.21%03/11/21 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000
Bank OZK CD 0.25%03/11/21 – 1,500,000 – 1,500,000 – 1,500,000 1,500,000
East West Bank CD 0.29%03/15/21 – 3,500,473 – 3,500,473 – 3,500,473 3,500,473
Prosperity Bank CD 0.45%04/01/21 – 4,004,525 – 4,004,525 – 4,004,525 4,004,525
Independent Bank CD 1.81%04/22/21 4,137,022 18,515 – 4,155,537 4,137,022 18,515 4,155,537
Bank OZK CD 0.70%05/10/21 12,007,144 21,228 – 12,028,372 12,007,144 21,228 12,028,372
Southside Bank CD 0.22%06/11/21 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000
Bank OZK CD 0.30%06/11/21 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000
Prosperity Bank CD 0.60%07/01/21 – 4,006,033 – 4,006,033 – 4,006,033 4,006,033
Prosperity Bank CD 0.70%07/15/21 – 5,007,459 – 5,007,459 – 5,007,459 5,007,459
East West Bank CD 0.32%08/18/21 – 2,000,772 – 2,000,772 – 2,000,772 2,000,772
Prosperity Bank CD 0.40%08/23/21 – 6,245,860 – 6,245,860 – 6,245,860 6,245,860
TOTAL / AVERAGE 0.54%249,992,313$ 50,481,840$ (60,175,598)$ 240,298,554$ 250,002,012$ (9,702,626)$ 240,299,385$
Valley View Consulting, L.L.C.28
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,505,298$ 9,505,298$ –$ –$ –$ –$
JPMorgan Chase MMA 433,983 433,983 – – – –
Veritex Bank MMA 3,210,906 3,210,906 – – – –
NexBank MMA 7,355,685 7,355,685 – – – –
Origin Bank MMA 4,087,417 1,025,806 – – – –
TexPool 28,793,102 28,793,102 – – – –
TexSTAR 74,272,794 9,714,325 584,095 2,180,032 137,262 111,001
T-Bill 10/08/20 2,499,139 2,499,139 – – – –
Independent Bank CD 10/18/20 2,534,811 2,534,811 – – – –
East West Bank CD 11/09/20 3,006,607 3,006,607 – – – –
Independent Bank CD 11/10/20 1,032,494 1,032,494 – – – –
R Bank CD 11/19/20 2,521,930 2,521,930 – – – –
Southside Bank CD 11/19/20 3,258,686 3,258,686 – – – –
East West Bank CD 12/09/20 4,056,045 4,056,045 – – – –
East West Bank CD 01/08/21 3,037,761 3,037,761 – – – –
Independent Bank CD 02/05/21 3,126,261 3,126,261 – – – –
Independent Bank CD 02/08/21 11,016,636 8,012,099 – – – –
East West Bank CD 02/18/21 9,003,472 3,001,157 – – – –
R Bank CD 02/19/21 4,036,263 4,036,263 – – – –
Bank OZK CD 02/26/21 6,060,233 6,060,233 – – – –
Southside Bank CD 03/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 03/11/21 1,500,000 1,500,000 – – – –
East West Bank CD 03/15/21 3,500,473 3,500,473 – – – –
Prosperity Bank CD 04/01/21 4,004,525 4,004,525 – – – –
Independent Bank CD 04/22/21 4,155,537 4,155,537 – – – –
Bank OZK CD 05/10/21 12,028,372 10,023,644 – – – –
Southside Bank CD 06/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 06/11/21 5,000,000 5,000,000 – – – –
Prosperity Bank CD 07/01/21 4,006,033 4,006,033 – – – –
Prosperity Bank CD 07/15/21 5,007,459 5,007,459 – – – –
East West Bank CD 08/18/21 2,000,772 – – – – –
Prosperity Bank CD 08/23/21 6,245,860 6,245,860 – – – –
Totals 240,298,554$ 159,666,122$ 584,095$ 2,180,032$ 137,262$ 111,001$
Book Value
September 30, 2020
Valley View Consulting, L.L.C.29
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021 1,531,341 68,584 1,451,130 1,503,917 318,392 178,392
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021$ 1,531,341$ 68,584$ 1,451,130$ 1,503,917$ 318,392$ 178,392$
Valley View Consulting, L.L.C.30
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,009,942 – – – –
– – – – – – –
- 97,352 3,839,337 56,681 672,097 497,544 11,241,692
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,004,537 – – – –
– – 3,001,157 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,004,729 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
-$ 97,352$ 12,859,703$ 56,681$ 672,097$ 497,544$ 11,241,692$
Valley View Consulting, L.L.C.31
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
2,051,669 – – – – – –
– – – – – – –
2,645,268 113,926 2,003,965 2,603,558 650,415 8,955,332 3,501,541
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
3,001,157 – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,000,772 – – – –
– – – – – – –
7,698,094$ 113,926$ 4,004,737$ 2,603,558$ 650,415$ 8,955,332$ 3,501,541$
Valley View Consulting, L.L.C.32
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2020
Revenue-
Water/WW
Electric-LCRA
Transformers
–$ –$
– –
– –
– –
– –
– –
7,447,141 9,660,452
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
7,447,141$ 9,660,452$
Valley View Consulting, L.L.C.33
City - Allocation
September 30, 2020
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,505,298$ 9,505,298$ –$ –$ –$ –$
JPMorgan Chase MMA 433,983 433,983 – – – –
Veritex Bank MMA 3,210,906 3,210,906 – – – –
NexBank MMA 7,355,685 7,355,685 – – – –
Origin Bank MMA 4,087,417 1,025,806 – – – –
TexPool 28,793,102 28,793,102 – – – –
TexSTAR 74,272,794 9,714,325 584,095 2,180,032 137,262 111,001
T-Bill 10/08/20 2,499,970 2,499,970 – – – –
Independent Bank CD 10/18/20 2,534,811 2,534,811 – – – –
East West Bank CD 11/09/20 3,006,607 3,006,607 – – – –
Independent Bank CD 11/10/20 1,032,494 1,032,494 – – – –
R Bank CD 11/19/20 2,521,930 2,521,930 – – – –
Southside Bank CD 11/19/20 3,258,686 3,258,686 – – – –
East West Bank CD 12/09/20 4,056,045 4,056,045 – – – –
East West Bank CD 01/08/21 3,037,761 3,037,761 – – – –
Independent Bank CD 02/05/21 3,126,261 3,126,261 – – – –
Independent Bank CD 02/08/21 11,016,636 8,012,099 – – – –
East West Bank CD 02/18/21 9,003,472 3,001,157 – – – –
R Bank CD 02/19/21 4,036,263 4,036,263 – – – –
Bank OZK CD 02/26/21 6,060,233 6,060,233 – – – –
Southside Bank CD 03/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 03/11/21 1,500,000 1,500,000 – – – –
East West Bank CD 03/15/21 3,500,473 3,500,473 – – – –
Prosperity Bank CD 04/01/21 4,004,525 4,004,525 – – – –
Independent Bank CD 04/22/21 4,155,537 4,155,537 – – – –
Bank OZK CD 05/10/21 12,028,372 10,023,644 – – – –
Southside Bank CD 06/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 06/11/21 5,000,000 5,000,000 – – – –
Prosperity Bank CD 07/01/21 4,006,033 4,006,033 – – – –
Prosperity Bank CD 07/15/21 5,007,459 5,007,459 – – – –
East West Bank CD 08/18/21 2,000,772 – – – – –
Prosperity Bank CD 08/23/21 6,245,860 6,245,860 – – – –
Totals 240,299,385$ 159,666,953$ 584,095$ 2,180,032$ 137,262$ 111,001$
Valley View Consulting, L.L.C.34
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021 1,531,341 68,584 1,451,130 1,503,917 318,392 178,392
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021$ 1,531,341$ 68,584$ 1,451,130$ 1,503,917$ 318,392$ 178,392$
Valley View Consulting, L.L.C.35
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,009,942 – – – –
– – – – – – –
-97,352 3,839,337 56,681 672,097 497,544 11,241,692
– – – – – – –
– – – – – – –
– – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,004,537 – – – –
– – 3,001,157 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,004,729 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
–$ 97,352$ 12,859,703$ 56,681$ 672,097$ 497,544$ 11,241,692$
Valley View Consulting, L.L.C.36
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
2,051,669 – – – – – –
– – – – – – –
2,645,268 113,926 2,003,965 2,603,558 650,415 8,955,332 3,501,541
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
3,001,157 – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,000,772 – – – –
– – – – – – –
7,698,094$ 113,926$ 4,004,737$ 2,603,558$ 650,415$ 8,955,332$ 3,501,541$
Valley View Consulting, L.L.C.37
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2020
Revenue-
Water/WW
Electric-LCRA
Transformers
–$ –$
– –
– –
– –
– –
– –
7,447,141 9,660,452
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
7,447,141$ 9,660,452$
Valley View Consulting, L.L.C.38
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$
JPMorgan Chase MMA 433,929 433,929 – – – –
Veritex Bank MMA 3,208,928 3,208,928 – – – –
NexBank MMA 7,346,749 7,346,749 – – – –
Origin Bank MMA 10,798,033 4,080,098 – – – –
TexPool 45,475,841 45,475,841 – – – –
TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153
East West Bank CD 07/15/20 5,152,781 5,152,781 – – – –
East West Bank CD 08/04/20 6,546,565 – – – – –
R Bank CD 08/16/20 2,031,778 – – – – –
R Bank CD 08/16/20 1,013,818 – – – – –
Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – –
T-Bill 10/08/20 2,489,236 2,489,236 – – – –
Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – –
East West Bank CD 11/09/20 3,002,442 3,002,442 – – – –
Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – –
R Bank CD 11/19/20 2,510,767 2,510,767 – – – –
Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – –
East West Bank CD 12/09/20 4,038,601 4,038,601 – – – –
East West Bank CD 01/08/21 3,024,696 3,024,696 – – – –
Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – –
Independent Bank CD 02/08/21 11,000,000 8,000,000 – – – –
R Bank CD 02/19/21 4,017,891 4,017,891 – – – –
Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – –
Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – –
Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – –
Totals 249,992,313$ 148,650,451$ 583,850$ 16,567,129$ 137,205$ 311,153$
June 30, 2020
Book Value
Valley View Consulting, L.L.C.39
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436 182,203
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$ 182,203$
Valley View Consulting, L.L.C.40
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,005,754 – – – –
– – – – – – –
380,642 97,311 5,922,590 56,657 924,743 560,262 11,613,036
– – – – – – –
– – – – – – 2,014,063
– – 2,031,778 – – – –
– – 1,013,818 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,000,000 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,001,191 – – – –
380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$ 560,262$ 13,627,099$
Valley View Consulting, L.L.C.41
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
4,743,154 – 969,028 – – – –
– – – – – – –
2,607,390 439,319 2,472,153 5,767,255 650,141 9,001,959 5,011,090
– – – – – – –
3,514,104 – 1,018,398 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$ 9,001,959$ 5,011,090$
Valley View Consulting, L.L.C.42
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2020
Revenue-
Water/WW
–$
–
–
–
–
–
9,302,024
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
9,302,024$
Valley View Consulting, L.L.C.43
City - Allocation
June 30, 2020
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$
JPMorgan Chase MMA 433,929 433,929 – – – –
Veritex Bank MMA 3,208,928 3,208,928 – – – –
NexBank MMA 7,346,749 7,346,749 – – – –
Origin Bank MMA 10,798,033 4,080,098 – – – –
TexPool 45,475,841 45,475,841 – – – –
TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153
East West Bank CD 07/15/20 5,152,781 5,152,781 – – – –
East West Bank CD 08/04/20 6,546,565 – – – – –
R Bank CD 08/16/20 2,031,778 – – – – –
R Bank CD 08/16/20 1,013,818 – – – – –
Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – –
T-Bill 10/08/20 2,498,935 2,498,935 – – – –
Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – –
East West Bank CD 11/09/20 6,002,442 3,002,442 – – – –
Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – –
R Bank CD 11/19/20 2,510,767 2,510,767 – – – –
Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – –
East West Bank CD 12/09/20 4,038,601 4,038,601 – – – –
East West Bank CD 01/08/21 3,024,696 3,024,696 – – – –
Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – –
Independent Bank CD 02/08/21 8,000,000 8,000,000 – – – –
R Bank CD 02/19/21 4,017,891 4,017,891 – – – –
Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – –
Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – –
Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – –
Totals 250,002,012$ 148,660,149$ 583,850$ 16,567,129$ 137,205$ 311,153$
Valley View Consulting, L.L.C.44
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436 182,203
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$ 182,203$
Valley View Consulting, L.L.C.45
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,005,754 – – – –
– – – – – – –
380,642 97,311 5,922,590 56,657 924,743 560,262 11,613,036
– – – – – – –
– – – – – – 2,014,063
– – 2,031,778 – – – –
– – 1,013,818 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,000,000 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,001,191 – – – –
380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$ 560,262$ 13,627,099$
Valley View Consulting, L.L.C.46
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
4,743,154 – 969,028 – – – –
– – – – – – –
2,607,390 439,319 2,472,153 5,767,255 650,141 9,001,959 5,011,090
– – – – – – –
3,514,104 – 1,018,398 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$ 9,001,959$ 5,011,090$
Valley View Consulting, L.L.C.47
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2020
Revenue-
Water/WW
–$
–
–
–
–
–
9,302,024
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
9,302,024$
Valley View Consulting, L.L.C.48
Georgetown Transportation Enhancement Corporation (GTEC)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2020
Prepared by
Valley 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 Wilson Leigh Wallace
Controller Finance Director
___________________________________
Karrie Pursley
Treasurer
Disclaimer: 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.
49
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Pools/MMAs 2.17%15,333,145$ 15,333,145$ 0.15%26,283,802$ 26,283,802$
Certificates of Deposit 2.71%5,218,739 5,218,739 0.40%3,001,377 3,001,377
Totals 20,551,884$ 20,551,884$ 29,285,179$ 29,285,179$
Fourth Quarter-End Yield 2.31%0.17%
Average Quarter-End Yields (1):
2019 Fiscal Year 2020 Fiscal Year
GTEC 2.38%0.97%
Rolling Three Month Treasury 2.30%0.76%
Rolling Six Month Treasury 2.37%0.99%
TexPool 2.31%0.76%
(1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
Annual Comparison of Portfolio Performance
September 30, 2019 September 30, 2020
Valley View Consulting, L.L.C.50
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Pools/MMAs 26,000,055$ 26,000,055$ 26,283,802$ 26,283,802$ 0.15%
CDs/Securities 3,222,395 3,222,395 3,001,377 3,001,377 0.40%
Totals 29,222,450$ 29,222,450$ 29,285,179$ 29,285,179$ 0.17%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.17%Total Portfolio 0.97%
Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76%
Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99%
TexPool 0.15%TexPool 0.76%
Interest data provided in separate report.
June 30, 2020
(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.
September 30, 2020
Valley View Consulting, L.L.C.
51
Economic Overview9/30/2020The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%), and projected that reduced rates could remain through 2024. Final estimate of Second Quarter GDP revised to down 31.4% (from down 31.9%). The Yield Curve remained stable. Crude oil slid to below $40 per barrel. September Non Farm Payroll added 661k workers. Business added over 800k, but governments shed 200+k. The Stock Markets retreated slightly from all-time highs. Housing strengthened due to low mortgage rates. Additional federal economic assistance remained stalled in Congress.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,750S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.200.400.600.801.001.201.401.601.802.00Treasury Yield CurvesSeptember 30, 2019June 30, 2020September 30, 20200.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.52
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
TexPool AAAm 0.15%10/01/20 09/30/20 10,744,412$ 10,744,412$ 1.00 10,744,412$ 1 0.15%
TexSTAR AAAm 0.13%10/01/20 09/30/20 12,852,913 12,852,913 1.00 12,852,913 1 0.13%
Veritex Bank MMA 0.20%10/01/20 09/30/20 2,686,477 2,686,477 1.00 2,686,477 1 0.20%
Prosperity Bank CD 0.40%08/23/21 08/21/20 3,001,377 3,001,377 100.00 3,001,377 327 0.40%
TOTALS 29,285,179$ 29,285,179$ 29,285,179$ 34 0.17%
(1)(2)
September 30, 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.53
Pools/MMAs
90%
CDs/Securities
10%
GTEC PORTFOLIO COMPOSITION
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$43,830.00 3/31/2020 6/30/2020 9/30/2020
GTEC PORTFOLIO BALANCES
CD
TexPool
TexSTAR
Money Market
Valley View Consulting, L.L.C.
54
Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
06/30/20 Increases Decreases Book Value
09/30/20
Market Value
06/30/20
Change in
Market Value
Market Value
09/30/20
TexPool 0.15%10/01/20 7,942,833$ 2,801,579$ –$ 10,744,412$ 7,942,833$ 2,801,579$ 10,744,412$
TexSTAR 0.13%10/01/20 13,332,342 – (479,429) 12,852,913 13,332,342 (479,429) 12,852,913
Origin Bank MMA 0.00%10/01/20 2,040,058 – (2,040,058) – 2,040,058 (2,040,058) –
Veritex Bank MMA 0.20%10/01/20 2,684,822 1,655 – 2,686,477 2,684,822 1,655 2,686,477
East West Bank CD 1.72%08/04/20 3,222,395 – (3,222,395) – 3,222,395 (3,222,395) –
Prosperity Bank CD 0.40%08/23/21 – 3,001,377 – 3,001,377 – 3,001,377 3,001,377
TOTAL / AVERAGE 0.17%29,222,450$ 5,804,611$ (5,741,882)$ 29,285,179$ 29,222,450$ 62,729$ 29,285,179$
Valley View Consulting, L.L.C.55
Georgetown Economic Development Corporation (GEDCO)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2020
Prepared by
Valley 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 Wilson Leigh Wallace
Controller Finance Director
___________________________________
Karrie Pursley
Treasurer
Disclaimer: 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.
56
Annual Comparison of Portfolio Performance
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Demand Accounts 2.25%2,106,292$ 2,106,292$ 0.20%2,129,054$ 2,129,054$
Pools 2.12%6,142,598 6,142,598 0.14%5,746,114 5,746,114
Certificates of Deposit 0.00%– – 1.70%2,016,943 2,016,943
Totals 8,248,890$ 8,248,890$ 9,892,111$ 9,892,111$
Fourth Quarter-End Yield 2.15%0.47%
Average Quarter-End Yields (1):
2019 Fiscal Year 2020 Fiscal Year
GEDCO 2.34%0.98%
Rolling Three Month Treasury 2.30%0.76%
Rolling Six Month Treasury 2.37%0.99%
TexPool 2.31%0.75%
(1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2019 September 30, 2020
Valley View Consulting, L.L.C.57
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,127,743$ 2,127,743$ 2,129,054$ 2,129,054$ 0.20%
Pools 5,210,899 5,210,899 5,746,114 5,746,114 0.14%
Certificates of Deposit 2,008,361 2,008,361 2,016,943 2,016,943 1.70%
9,347,002$ 9,347,002$ 9,892,111$ 9,892,111$ 0.47%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.47%Total Portfolio 0.98%
Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76%
Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99%
TexPool 0.15%TexPool 0.75%
Interest income provided in separate report.
June 30, 2020
(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.
September 30, 2020
Valley View Consulting, L.L.C.
58
Economic Overview9/30/2020The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%), and projected that reduced rates could remain through 2024. Final estimate of Second Quarter GDP revised to down 31.4% (from down 31.9%). The Yield Curve remained stable. Crude oil slid to below $40 per barrel. September Non Farm Payroll added 661k workers. Business added over 800k, but governments shed 200+k. The Stock Markets retreated slightly from all-time highs. Housing strengthened due to low mortgage rates. Additional federal economic assistance remained stalled in Congress.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,750S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.200.400.600.801.001.201.401.601.802.00Treasury Yield CurvesSeptember 30, 2019June 30, 2020September 30, 20200.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.59
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
Veritex Bank MMA 0.20%10/01/20 09/30/20 2,129,054$ 2,129,054$ 1.00 2,129,054$ 1 0.20%
TexasDAILY AAAm 0.14%10/01/20 09/30/20 2,124,759 2,124,759 1.00 2,124,759 1 0.14%
TexSTAR AAAm 0.13%10/01/20 09/30/20 3,621,355 3,621,355 1.00 3,621,355 1 0.13%
Independent Bank 1.70%02/05/21 02/05/20 2,016,943 2,016,943 100.00 2,016,943 128 1.70%
9,892,111$ 9,892,111$ 9,892,111$ 27 0.47%
(1)(2)
September 30, 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.60
MMA
22%
Pools
58%
Certificates of
Deposit
20%
GEDCO PORTFOLIO COMPOSITION
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
12/31/19 03/31/20 06/30/20 09/30/20
GEDCO PORTFOLIO BALANCES
CD
TexasDAILY
TexSTAR
Money Market
Valley View Consulting, L.L.C.
61
Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
06/30/20 Increases Decreases Book Value
09/30/20
Market Value
06/30/20
Change in
Market Value
Market Value
09/30/20
Veritex Bank MMA 0.20%10/01/20 2,127,743$ 1,312$ –$ 2,129,054$ 2,127,743$ 1,312$ 2,129,054$
TexasDAILY 0.14%10/01/20 2,123,848 911 – 2,124,759 2,123,848 911 2,124,759
TexSTAR 0.13%10/01/20 3,087,051 534,304 – 3,621,355 3,087,051 534,304 3,621,355
Independent Bank 1.70%02/05/21 2,008,361 8,582 – 2,016,943 2,008,361 8,582 2,016,943
TOTAL / AVERAGE 0.47%9,347,002$ 545,109$ –$ 9,892,111$ 9,347,002$ 545,109$ 9,892,111$
Valley View Consulting, L.L.C.62
Department Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized
Airport Texas Department of
Transportation-Aviation
M1914GEOR RAMP Grant - Routine Airport
Maintenance Program
80,330.44 39,854.05
Airport Texas Department of
Transportation-Aviation
1914GEORG Taxiway Lighting Project 888,592.22 799,733.00
Airport Texas Department of
Transportation - Aviation
Airport CARES Funding - -
Emergency Management Williamson County WILCO Forward - CARES
Funding for COVID-19
163,464.42 163,464.42
Fire CMS (Centers for Medicare &
Medicaid Services)
EMS CARES Round 1 - 76,174.22
Fire Federal Emergency
Management Agency
EMW-2017-FH-00496 SAFER 965,530.36 718,166.92
Fire Texas Department of Public
Safety - TDEM
TX-TIFMAS-200013 TIFMAS - Hurricane Laura
Deployment
10,816.58 10,816.58
Fire Texas Department of Public
Safety - TDEM
TEEX Tracy Ryan
Deployment Urban Search and
Rescue (US&R)
- 12,207.45
Library National Endowment for the
Arts
COVID Relief Funding - 5,362.00
Library Texas Commission on the Arts Arts Respond Project Grant 5,362.00 5,362.00
Planning Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps
along 17th St
149,737.75 149,737.75
Planning Williamson County CDBG Home Repair 31,940.23 31,940.23
Police N/A KXPIIIA Bullet Proof Vests - Supply
Police with new vests
3,581.80 1,554.48
Police N/A TX2460200 Equitable Sharing Agreement 73,561.78 -
Police N/A TX2460200 Equitable Sharing Agreement 6,372.08 12,339.76
Public Works Texas Department of
Transportation
CSJ-0914-05-187 Highway Planning &
Construction (Austin Ave
Bridge)
220,121.89 -
CITY OF GEORGETOWN
Grant/Federal Funding Report
as of September 30, 2020
Active
63
Public Works Texas Department of
Transportation
CSJ-0914-05-200,201,202 Highway Planning &
Construction (Williams Dr
Corridor)
- -
Parks Federal Highway
Administration
RT017010 Recreation San Gabriel Trails $ 461,345.71 200,000.00
Reviewed By: Elaine Wilson
64
Capital Improvement Projects Report, Life-to-Date Budget and SpendRow Labels Total Budget Total Spend Remaining Budget Percent RemainingCDBGCDBGPRJ000003 17th Street193,000 167,777 25,223 13.07%CDBG Total193,000 167,777 25,223 13.07%CDBG Total193,000 167,777 25,223 13.07%CIP Street MaintenancePublic Works DepartmentPRJ000013 Austin Avenue Bridge2,855,398 1,729,082 1,126,316 39.45%PRJ000172 2020 Street Maintenance High Performance Seal: Bid Package No.1372,200 287,620 84,580 22.72%PRJ000173 2020 Street Maintenance High Performance Seal: Bid Package No. 2463,195 482,214 (19,020) -4.11%PRJ000174 2020 street maintenance HIPR1,935,589 1,118,283 817,306 42.23%PRJ000210 2021 HIPR Street Maintenance2,300,000 -2,300,000 100.00%PRJ000211 2021 High Performance Pavement Seal Project #1600,000 -600,000 100.00%PRJ000212 2021 High Performance Pavement Seal Project #2600,000 -600,000 100.00%Public Works Department Total9,126,381 3,617,199 5,509,182 400.29%CIP Street Maintenance Total9,126,381 3,617,199 5,509,182 400.29%Downtown TIRZParksPRJ000050 Grace Heritage Plaza139,100 45,900 93,200 67.00%Parks Total139,100 45,900 93,200 67.00%Downtown TIRZ Total139,100 45,900 93,200 67.00%ElectricElectricPRJ000022 Consultant Engineering150,000 21,352 128,648 85.77%PRJ000026 Db Wood_Sh29 Intersection240,000 288,822 (48,822) -20.34%PRJ000036 Electrical System Improvement100,000 57 99,943 99.94%PRJ000040 Fiber Optic50,000 19,516 30,484 60.97%PRJ000062 New Development Projects3,260,000 3,842,269 (582,269) -17.86%PRJ000073 Power Quality Improvements50,000 -50,000 100.00%PRJ000095 Shell Road Feeders160,000 163,280 (3,280) -2.05%PRJ000147 Sectionalization Improvements100,000 -100,000 100.00%PRJ000175 I-35 Mobility Project TxDot200,000 62,519 137,481 68.74%PRJ000189 Ronald Reagan - Glasscock Feeder Extension along Hwy 195 -Phase I & II560,000 -560,000 100.00%Electric Total4,870,000 4,397,815 472,185 575.16%Electric Total4,870,000 4,397,815 472,185 575.16%65
Capital Improvement Projects Report, Life-to-Date Budget and SpendRow Labels Total Budget Total Spend Remaining Budget Percent RemainingGCPEnvironmental ServicesPRJ000116 Transfer Station5,528,786 671,781 4,857,005 87.85%Environmental Services Total5,528,786 671,781 4,857,005 87.85%FinancePRJ000038 ERP Project6,216,384 5,618,293 598,091 9.62%Finance Total6,216,384 5,618,293 598,091 9.62%FirePRJ000134 SCBA Replacement880,000 -880,000 100.00%PRJ000135 Cardiac Monitors483,517 -483,517 100.00%Fire Total1,363,517 -1,363,517 200.00%FleetPRJ000124 Radio Replacement129,000 -129,000 100.00%Fleet Total129,000 -129,000 100.00%GTEC DepartmentPRJ000203 FM1460 Widening20,000 -20,000 100.00%PRJ000206 NB Front Rd (2338 To Lakeway)216,000 221,766 (5,766) -2.67%GTEC Department Total236,000 221,766 14,234 97.33%Management ServicesPRJ000028 Downtown Parking Expansion728,510 701,947 26,564 3.65%PRJ000029 Downtown Parking Garage411,815 114,610 297,205 72.17%PRJ000033 Dtwn Landsping & Public Art90,000 5,746 84,254 93.62%PRJ000037 EOC Siren System15,525 -15,525 100.00%PRJ000042 Fire Station 65,861,202 5,212,806 648,396 11.06%PRJ000043 Fire Station 76,747,260 6,282,255 465,005 6.89%PRJ000067 Parking Improvements68,510 -68,510 100.00%PRJ000131 Fuel Station1,100,000 -1,100,000 100.00%PRJ000136 GMC Remodel Phase I250,000 -250,000 100.00%PRJ000180 Recreation Center Natatorium HVAC Replacement800,000 -800,000 100.00%Management Services Total16,072,822 12,317,364 3,755,458 687.39%66
Capital Improvement Projects Report, Life-to-Date Budget and SpendRow Labels Total Budget Total Spend Remaining Budget Percent RemainingParksPRJ000048 Garey Park15,344,472 15,091,857 252,615 1.65%PRJ000055 Katy Crossing Trail 700,000 - 700,000 100.00%PRJ000089 San Gabriel Park Improvement 13,025,000 7,332,849 5,692,151 43.70%PRJ000125 Parks Master Plan200,000 - 200,000 100.00%PRJ000126 Regional Trail Development 128,600 6,659 121,941 94.82%PRJ000127 Neighborhood Park Development 1,250,000 193,397 1,056,603 84.53%PRJ000129 Ada Transition Plan 900,405 275,982 624,423 69.35%PRJ000130 Tennis Center Pool Demo 70,000 - 70,000 100.00%PRJ000205 Katy Crossing Trail 700,000 500,181 199,819 28.55%Parks Total32,318,477 23,400,924 8,917,553 622.59%PolicePRJ000133 Body Cameras802,000 737,412 64,588 8.05%Police Total802,000 737,412 64,588 8.05%Public Works - Self Managed DepartmentPRJ000204 Historic District Street Signs 26,000 - 26,000 100.00%Public Works - Self Managed Department Total 26,000 - 26,000 100.00%Public Works DepartmentPRJ000137 Intersection Improvements (Lakeway @ Williams Drive) 1,400,000 121,600 1,278,400 91.31%PRJ000138 Downtown Sidewalks 1,000,000 428,034 571,966 57.20%PRJ000139 Westinghouse - Scenic Lake Traffic Signal 600,000 31,950 568,051 94.68%PRJ000141 Southwestern Blvd 4,000,000 613,677 3,386,323 84.66%PRJ000143 Leander Rd(Norwood-Swbypass) 5,538,000 113,462 5,424,539 97.95%PRJ000171 Shell Rd Sidewalk229,825 203,755 26,070 11.34%PRJ000201 Austin Ave. (Sh29-Fm2243) 466,000 466,000 - 0.00%PRJ000202 FM 9714,853,000 1,047,014 3,805,986 78.43%PRJ000207 Northwest Blvd Bridge11,250,000 6,785,085 4,464,915 39.69%PRJ000208 Old Town Northeast1,050,000 905,751 144,249 13.74%PRJ000209 Southeast Inner Loop10,521,000 3,931,937 6,589,063 62.63%PRJ000214 Intersection Improvements (Traffic Signals)1,650,000 - 1,650,000 100.00%PRJ000215 2021 Intersection Safety Enhancements (RRFB)150,000 - 150,000 100.00%PRJ000216 FY21 Downtown Sidewalk Improvements1,000,000 - 1,000,000 100.00%PRJ000217 SW Bypass - Wolf Ranch Extension1,000,000 25,627 974,373 97.44%Public Works Department Total44,707,825 14,673,892 30,033,933 1029.06%Right of WayPRJ000200 Access Rtw To Government Srv220,000 220,000 - 0.00%Right of Way Total220,000 220,000 - 0.00%GCP Total107,620,810 57,861,432 49,759,379 2941.89%67
Capital Improvement Projects Report, Life-to-Date Budget and SpendRow Labels Total Budget Total Spend Remaining Budget Percent RemainingGeneral FundRight of WayPRJ000007 Access Rtw To Government Srv 220,000 -220,000 100.00%Right of Way Total220,000 -220,000 100.00%General Fund Total220,000 -220,000 100.00%68
Capital Improvement Projects Report, Life-to-Date Budget and SpendRow Labels Total Budget Total Spend Remaining Budget Percent RemainingGTECGTEC DepartmentPRJ000046 FM 971/ Fontana (Nw Bridge) 1,209,000 1,193,000 16,000 1.32%PRJ000053 IH 35/ Hwy 29 Intersection Imp 1,800,000 120,066 1,679,934 93.33%PRJ000060 Rabbit Hill Road4,100,000 88,429 4,011,571 97.84%PRJ000083 Rivery Tia Improvements 1,179,000 1,094,839 84,161 7.14%PRJ000145 Sh29 Signal And Roadway Improvements 1,595,000 - 1,595,000 100.00%GTEC Department Total9,883,000 2,496,335 7,386,665 299.63%GTEC Total9,883,000 2,496,335 7,386,665 299.63%StormwaterStormwaterPRJ000004 18th and Hutto Drainage50,000 5,969 44,031 88.06%PRJ000005 2nd and Rock Pond500,000 447,151 52,849 10.57%PRJ000024 2020 Curb & Gutter1,055,000 327,047 727,953 69.00%PRJ000104 Stormwater Infrastructure347,000 58,948 288,053 83.01%PRJ000148 Water Quality Ponds98,000 - 98,000 100.00%PRJ000149 Drainage Improvement/Flood Mitigation Projects300,000 - 300,000 100.00%PRJ000213 2021 Curb & Gutter Project500,000 - 500,000 100.00%Stormwater Total2,850,000 839,115 2,010,885 550.64%Stormwater Total2,850,000 839,115 2,010,885 550.64%TransportationPublic Works DepartmentPRJ000045 FM 9712,000 (21,684) 23,684 1184.20%PRJ000063 Northwest Blvd Bridge21,743,000 (181,880) 21,924,880 100.84%PRJ000065 Old Town Northeast855,021 (19,064) 874,085 102.23%PRJ000100 Southeast Inner Loop3,321,000 - 3,321,000 100.00%Public Works Department Total25,921,021 (222,628) 26,143,649 1487.27%Transportation Total25,921,021 (222,628) 26,143,649 1487.27%69
Capital Improvement Projects Report, Life-to-Date Budget and SpendRow Labels Total Budget Total Spend Remaining Budget Percent RemainingWaterWaterPRJ000014 Berry Creek Inter.49,949,000 94,371 49,854,629 99.81%PRJ000016 Braun Est4,750,000 1,194,910 3,555,090 74.84%PRJ000023 Cr 255 (Wd14-2)1,493,963 -1,493,963 100.00%PRJ000025 Db Wood/ Pastor 24 Dedicated5,286,000 423,726 4,862,274 91.98%PRJ000034 Earz2,326,000 303,945 2,022,055 86.93%PRJ000059 LWTP Raw Water Intake Rehab18,750,000 1,879,144 16,870,856 89.98%PRJ000066 Park Lift Station & Force Main3,574,341 683,007 2,891,334 80.89%PRJ000069 Pecan Branch Ph 2253,000 232,521 20,479 8.09%PRJ000075 Pumps & Storage1,000,000 9,289 990,711 99.07%PRJ000085 Ronald Reagan/Daniels Mountain4,400,000 138,046 4,261,954 96.86%PRJ000087 S. Lake Wtp 20186,950,000 -6,950,000 100.00%PRJ000088 San Gabriel Belt Press and Rehab3,200,000 2,448,071 751,929 23.50%PRJ000096 Shell Road Water Line6,890,000 856,000 6,034,000 87.58%PRJ000101 Southlake Wtp100,000,000 460,012 99,539,988 99.54%PRJ000119 Water Mains1,637,000 335,744 1,301,256 79.49%PRJ000123 WW Interceptors608,431 -608,431 100.00%PRJ000150 Carriage Oaks Transmission500,000 -500,000 100.00%PRJ000151 FY2020 CR262 Waterline500,000 -500,000 100.00%PRJ000152 FY2020 Hoover Pump Station750,000 -750,000 100.00%PRJ000154 FY2020 Stonewall Ranch Ps Improvements500,000 -500,000 100.00%PRJ000155 FY2020 Southside Water Treatment Plant2,250,000 -2,250,000 100.00%PRJ000156 FY2020 Gatlin/Teravista Improvements450,000 -450,000 100.00%PRJ000157 Leander Interconnect450,000 32,962 417,038 92.68%PRJ000158 West loop (H-1A)2,119,000 447,385 1,671,615 78.89%PRJ000160 FY2020 Round Rock Supply Pump Station And Elevated Storage Tank9,200,000 455,755 8,744,245 95.05%PRJ000161 Miscellaneous Line Upgrades622,000 346,608 275,392 44.28%PRJ000162 South West Bypass Water (H24-1)2,906,000 1,266,311 1,639,689 56.42%PRJ000163 Tank Rehabilitation2,905,000 51,247 2,853,753 98.24%PRJ000164 Council Chamber Water423,000 15,960 407,040 96.23%PRJ000165 San Gabriel Wwtp Rehab2,500,000 17,045 2,482,955 99.32%PRJ000167 San Gabriel Inter SGI -24,500,000 -4,500,000 100.00%PRJ000168 WWTP Upgrade1,150,000 -1,150,000 100.00%PRJ000177 Northlake WTP Phase IV Expansion15,000,000 -15,000,000 100.00%Water Total257,792,735 11,692,059 246,100,676 2879.66%Water Total257,792,735 11,692,059 246,100,676 2879.66%Grand Total418,616,047 80,895,004 337,721,044 9314.62%70
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20Cemetery 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.Depending on the economic impacts of COVID, the General Fund may not make this transfer in FY2020. Additionally, the FY2021 budget has reduced this transfer. The general fund transfer for FY2021 was reduced to $35,000. Unfunded Actuarial Accrued Liability (UAAL)Recognizes the outstanding liability for the City’s employee retirement plan through TMRS. The City contributes monthly to fund the UAAL, based on an annual percentage of payroll. Actual % of payroll costs is recognized within each fund. The UAAL is provided by TMRS and lags one year.As of 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 change. New report not yet released by TMRS.Other Post Employee Benefits (OPEB)While the City has no obligation to offer additional retiree benefits, retirees are eligible to participate in the City’s health insurance program. That ability represents a subsidy that impacts health insurance costs to the City. Retirees pay their monthly premiums to the self insurance fund, which then processes their health insurance claims. 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 change.Compensated AbsenceFuture costs associated with benefits such as vacation, and sick leave for City employees. Compensated Absence is accrued annually to each proprietary fund type on a GAAP basis and accounted for on the balance sheet of each fund. For governmental funds (and for budgetary basis), the expense is recognized when due and payable. The 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.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 change.Electric Fund Rate Stabilization ReserveIntended to mitigate potential rate impacts due to increased fuel costs or other external factors. The RSR is maintained within the Electric Fund. Staff are projecting to sell transformer assets to a third party by the end of the fiscal year, as well as to make a second installment in the sale of the fiber asset to the IT Fund. These one‐time influxes of cash are helping to restore reserves to the fund.The sale of transformer and fiber assets were booked to the 4th Quarter. Net Purchased Power also ended the year on budget. FY2020 ending fund balance is projected to fully fund the 90 day contingency of $4.1 million, and begin to restore the rate stabilization reserve.CITY OF GEORGETOWNLong-term Commitments, Reservations, and Other Unfunded Liabilities9/30/202071
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20Airport 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. No changeStaff will be working on three (3) CARES Act purchases: 1) Emergency Generator, 2) Solar Powered Taxiway lights, and 3) Cattleguards for the North and South Gates to mitigate willife entering the airfield. These projects were unfunded, but will be reimbursed through TxDOT from the CARES Act grant from the FAA. We are also going to be looking at Land Lease buildings that will be reverting back to Airport Ownership within the next 5 years. These reversions will impact the budget bottom line as we will have to do some maintenance on the buildings. These charges will be off‐set by the increased revenue from the increased Facility Lease Rates.Americans with Disabilities Act (ADA) Compliance NeedsAs facilities are built or repurposed, meeting ADA compliance will be included in Project Costs. Funding for program expansion will be needed (General Fund sources). The City has an adopted policy, as required by Federal Law, that it will make reasonable accommodations and modifications to ensure that people with disabilities have an equal opportunity to enjoy its programs, services, and activities. The City does not maintain a reserve for these modifications.No 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. Old Town NE sidewalk is completed and all punch list items are done. Project will close out in July.In design is the Rock Sidewalk/FY20 Downtown ADA Sidewalk Improvements. This project will construct new and rehab/replace non‐ADA compliant sidewalks and pedestrian ramps. Project will bid mid to late November with constrctuion starting after the new year. 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.Golden Bear Park development is underway and is expected to be complete in August. The development consists of age appropriate play equipment, accessible sidewalks, pergola, and landscaping. (This is a bond funded project)University Park and Raintree Park equipment and the outdoor pool slides at the Recreation Center were scheduled to be completed in FY2020. However, these were deferred due to financial constraints related to COVID‐19. These deferrals total $290,000. Additionally, the general fund transfer for FY2021 was reduced from $200,000 to $50,000. Scheduled maintenance equipment and replacement projects for FY2021 total $402,000 not including the FY2021 deferrals. Staff has evaluated the FY2020 deferrals and the scheduled FY2021 replacements and prioritized to complete projects with greatest need. These total $293,000 and will be completed with the $50,000 transfer and existing fund balance. 72
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20Radio 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. There will not be any new radios purchased in FY2020 budget because they were taken out of the debt sale due to market uncertainty related to COVID‐19. There will be debt issued in FY2021 for the final year of the replacement project. FY2021 Budget will fund the radios deferred in FY2020. Additionally, the Electric Fund plans to fund 10 radios that were deferred for several years to reduce costs. The Electric Fund has improved its financial position, and the equipment needs to be replaced for employee safety.Street 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.Due to the COVID‐19 pandemic, the Street Maintenance budget in the General Fund was reduced in FY2021. The Streets Special Revenue Fund will pick up some of the expenses, but not all.No change.Fiber 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.Fiber staff will be moved into IT at beginning of FY 21. Also in FY 2021, Fiber costs will be allocated across departments according to the IT allocation process. The second installment to acquire the asset will be paid in FY2020, and there is a plan to assume additional installments over the next 4 years. The IT Fund will need to increase cost recovery rates to complete the acquisition.No change.IT Capital Replacement ReserveThe purpose of this reserve is to fund the maintenance and replacement of computer network and other technology systems. A reserve will be established within the ISF for replacement of major systems and will be funded over time through excess revenues within the Fund. The targeted amount is the average (1/5th) of the next five years on the replacement schedule. During the FY2021 budget adoption process, the IT capital replacement reserve was drawn down in order to purchase a portion of the fiber asset from the Electric utility. In FY2022, IT Allocation revenues will need to increase citywide to recover the fund balance and continue with the remaining fiber asset purchase.Facilities Maintenance ReserveThe City has established an on‐going maintenance program, which includes major repairs, equipment, as well as contracts for maintaining City facilities. The City has anticipated a useful life of such equipment and established a means of charging those costs to the various departments in order to recognize the City’s continuing costs of maintaining its facilities. Determination for facility repairs is based on useful life of the various elements of each facility. A proportional cost for each element is expensed within the budget for capital replacement. The targeted replacement reserve amount is the average (1/5th) of the next five years on the replacement schedule. During the FY2021 budget adoption process, the Facilities cost allocation revenue was not increased. This provided some economic relief throughout major funds due to COVID economic uncertainty. Therefore, no incremental progress was made to fund this reserve. In FY2022 or future years, rates will need to increase to fund this reserve. 73
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20Public Safety Equipment Recurring Line Item BudgetsAs part of the City’s on‐going maintenance program, the City also recognizes the need to regularly maintain and replace specialized equipment in Police and Fire. Separate replacement and maintenance schedules will be maintained for these items including but not limited to for Fire: SCBA’s and other firefighting equipment and protective gear; and for Police: bullet proof vests, armaments and other tactical equipment. The City’s goal is to provide level on‐going funding to ensure proper protection for employees and residents. The current funding level is an annual appropriation in the General Fund of $80,000 for Fire and $88,000 for Police.Due to the economic impacts of the pandemic, reductions were made to General Fund base budgets in FY2021, including public safety equipment. There is no anticipated impact to employee safety. The funds will need to be restored in FY2022, or as soon as practical.No change.Joint Services Fund 90 Day Operational Contingency ReserveA minimum ninety (90) days of operating expenses will be reserved for unexpected delays in revenue or emergency expenses. Due to the economic impact of the pandemic, the City is not increasing recovery rates to build this reserve. It is estimated to take approximately 3 years to build the reserve to 90 days. The FY2021 budget provide funding to hire a consultant to review and recommend updates to the City's joint services cost allocation model.74