HomeMy WebLinkAboutORD 2021-03 - FY2020 BudgetORDINANCE NO.
AN ORDINANCE OF THE CITY OF GEORGETOWN, TEXAS, AMENDING
THE 2020 ANNUAL BUDGET FOR YEAR-END OBLIGATIONS THAT WERE
NOT KNOWN AT THE TIME THE BUDGET WAS ADOPTED,
APPROPRIATING THE VARIOUS AMOUNTS THEREOF, AND REPEALING
ALL ORDINANCES OR PARTS OF ORDINANCES IN CONFLICT
THEREWITH.
WHEREAS, the City has available revenues and ending Fund Balances in the General
Debt Service, Conservation, Court Security, Information Technology, and Electric funds for
Fiscal Year 2020; and
WHEREAS, the City is aware of obligations not currently appropriated in the fiscal
year 2020 Budget in the following funds: General Debt Service, Conservation, Court Security,
Information Technology, and Electric; and
WHEREAS, the changes were unknown and unforeseeable at the time the fiscal year
2020 budget was approved; and
WHEREAS, the City Charterand State law allows for changes in the Annual Operating
Plan by a Council majority plus one in emergency situations and for municipal purposes;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1.
The facts and recitations contained in the preamble of this ordinance are hereby found
and declared to be true and correct, and are incorporated by reference herein and expressly made
a part hereof, as if copied verbatim.
SECTION 2.
The amendment to the 2020 Annual Budget of the revenues of the City of Georgetown and
expenses of conducting the affairs thereof, is in all things adopted and approved as an addition
to the previously approved budget of the current revenues and expenses as well as fixed charges
against said City for the fiscal year beginning October 1, 2019 and ending September 30, 2020.
A copy of the amendment is attached hereto as Exhibit "A" incorporated by reference herein.
SECTION 3.
The total of $1,053,780 is hereby released from appropriation for payments of expenditures
and payments of the funds and included in the Exhibit "A".
SECTION 4
All ordinances and resolutions, or parts of ordinances and resolutions, in conflict with this
Ordinance are hereby repealed, and are no longer of any force and effect. This ordinance
complies with the vision statement of the Georgetown 2030 Plan.
SECTION 5.
If any provision of this ordinance or application thereof to any person or circumstance, shall
be held invalid, such invalidity shall not affect the other provisions, or application thereof, of this
ordinance which can be given effect without the invalid provision or application, and to this end
the provisions of this ordinance are hereby declared to be severable.
SECTION 6.
The Mayor is hereby authorized to sign this ordinance and the City Secretary to attest. This
ordinance shall become effective upon adoption of its second and final reading by the City Council
of the City of Georgetown, Texas.
PASSED AND APPROVED on First Reading on the 8th day of December, 2020.
PASSED AND APPROVED on Second Reading on the 12th day, of January, 2021.
ATTEST: THE VTY OF GEO
Robyn Densmore S . c
City Secretary Mayor
APPROVED AS TO FORM:
Skye assoi
City Attorney
Schroeder
Exhibit A - FY2020 Year-end Amendment
2020 Approved
Impact of This
2020 Ame
Bud g etnded
ActlonlCAFR
Budge
g
Ad ustment
Beginning Fund Balance
1,950,739
-
1,960,739
During the FY2020 budget development process, a step was
mistakenly missed in budgeting the expense for some debt
Revenues
service payments related to GEDCO projects and the Solid
Current Revenues
20,531,759
20,531,759
Waste Transfer Station. The revenue was available and the
debt payments were made on time. This is a clean up action.
Finance staff updated our checklist to prevent missing this
budget step again in the future.
'Total Revenues 20,531,769
20.531.759
Expenses
Handling Fees
20,000
20,000
Principal Reduction
12,834,526
180,000
13,014,526
Interest Expense
7,173,378
253,816
7,427,194
Total Expenses 20.027.904 433.816
20.461.720
Ending Fund Balance
2.464,694
(433,816) $020,778
46 Day Contingency
2,096,022
(76,244) 2,020,778
Available Fund Balance
368,672
358,572
2020 Approved
Impact of This
2020 Amended
0
Bud et
9
Action/CAFR
Bud9
Adjustment
On May 26, 2020, City Council approved a utility billing relief
Beginning Fund Balance 847,036 -
847,035
program related to COVID-19. This included direction for the
Revenues
Conservation Fund to cover the Electric Fund's bill relief
Current Revenues
72,000
72,000
expenses. This action is to transfer $4,207 from Conservation
to Electric, for year-to-date relief expenses.
Total Revenues 72 a00
72,001)
Expenses
Current Expenses
231,000
231,000
Transfers Out
-
4.207
4,207
Total Exoense8 231.0110 4.207
235-207
Fund Balance 688,035 4,207 683,828
2020 Approved
Impact of This
2020 Amended
Budget
g
ActlonlCAFR
Budge
g
Adjustment
Beginning Fund Balance
3,289
3,289
During the transition from the old financial system (Incode)
to the new system (Workday), many changes were made to
Revenues
the chart of accounts and accounting procedures, Previously,
Current Revenues
10,875
15,757
26,632
the Court special revenue fund netted collections contract
revenue against the contract expense. Since go live of the
new system in April, revenue posts to revenue, and expense
posts to expense. Therefore, an amendment is needed to
Total Revenues 10,876 16,767
26,632
Expenses
Current Expenses
1,000
15,757
16.757
recognize expense appropriation in this fund. Collections
revenue still covers the expense and there is no negative
impact to the fund.
Total Ex eases 1,000 76,757
16,757
Ending Fund Balance 13,164
13,164
Available Fund Balance 13.104
13.164
2020 Approved
Impact of This
2020 Amended
Budget
g
Action/CAFR
Bud et
g
Ad u 1 en[
Beginning Fund Balance
$
2,452,003
S -
S 2,462,003
As part of the FY2021 budget development process, staff and
Council reviewed FY2020 year-end projections for the IT Fwnf
Revenues
and the Electric Fund. Council approved for the IT Fund to
Current Revenues
5
7,727.733
$ 7.727.733
continue its multi -year program of buying segments of the
citywide fiber asset from the Electric Fund. The FY2020
segment is for $600,000 after annual depreciation and is the
Total Revenues S 7,727.733 S S
7.727.733
Expenses
second segment in a four year plan, This action draws down
Current Expenses
$
8,012,204
$ 8,012,204
on IT Fund reserves for capital replacement The IT Fund will
Capllal outlay - Capital Equipment
$
-
600,000
S 6W-W0
need to increase internal service fund allocation charges in
Fy2022 to begin recovering the reserve.
Total Eat eases S 8,012,204 $ 600,000 $
3.612,204
Ending Fund Balance S 2.167.532 S (600.0001 S
1.567.537
Reserve S 1,031,764 5 (116,022) S 915.7
and Balance S 463.978 $ (463,978) $ -
2020 Approved
Budget
g
impact or This
Action/CAFR
Ad ustmenl
2020 Amended
Budget
9
Beginning Fund Balance
Revenues
Current Revenues
Transfers In
Selo of Property
$
$
$
S
6,614,742
95,658,419
500,000
10,000
$
4,207
600,000
$ 6,614,742
$ 95,658,419
$ 504,207
$ 610.000
The first amendment for the Electric fund is to recognize the
$4,207 transfer in from the Conservation Fund to reimburse
for utility bill relief expenses related to COVID-19. Council
approved reimbursement from the Conservation fund as a
way to ease strain on the Electric Fund. The second
amendment recognizes revenue from the IT Fund for the sale
of a second segment of the citywide Fiber Asset valued at
$600AX
Total Revenues S 96,188,419 S 604,207 $
96,772,626
Expenses
Current Expenses S 93,484,026 S
93.484.025
Total Ex ans" $ 93,484.029 $ S
93,484,020
Findina FundSatance S 9,299.133 E 504.207 $
9.903,340
Contingency S 4,142AS9 S
4142.169
ROO Stabilization $ 4,556,000 5 S
4.566.000
Available Fund Balance $ 601,974 5 604,207 S
1.206.181
TOTAL CHANGE IN APPROPRIATION 1,053,780