HomeMy WebLinkAboutRES 091421-L - FY2022 GTEC BudgetRESOLUTION NO. I _L
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS,
ACCEPTING THE 2022 PROPOSED PROJECT LIST OF THE GEORGETOWN
TRANSPORTATION ENHANCHMENT CORPORATION (GTEC), AND APPROVING
THE 2022 GTEC BUDGET.
WHEREAS, the City is required by State Law, the Amended Articles of Incorporation, and the
Bylaws of the Georgetown Transportation Enhancement Corporation (GTEC), previously established
pursuant to Vernon's Rev. Civ. Stat. Ann., Article 5190.6 Section 4(B) to approve GTEC's annual
operating budget: and
WHEREAS, projects identified in the 2022 Project List are incorporated into the annual budget of
GTEC,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution 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 City Council of the City of Georgetown hereby accepts the proposed project list
included in the 2021 Georgetown Transportation Enhancement Corporation (GTEC) budget as approved
by the GTEC Board on July 21, 2021.
SECTION 3. Budgetary expenses, such as administrative and non -project specific expenses
may be expended on or after the date of this resolution.
RESOLVED this 14th day of September 2021
ATTEST:
Robyn DMismore
City Secretary
APPROVED AS TO FORM:
Air ✓�1r�
Skye KWssonL
City Attorney
OF GEORGETOWN:
Josh Schroeder
Resolution No. 09 I L{ Zl — L Page 1 of 1
Description: 2022 GTEC Budget Resolution
Date Approved: September 14, 2021
FY2020
FY2021
FY2022
Actuals
Amended Budget Projected
Base Budget Changes Proposed Budget
Beginning Fund Balance
21,649,668
31,029,698 31,029,699
22,698,301 - 22,698,301
40002:Sales Taxes
8,491,3261
8,255,000
10,187,500
10,645,938
10,645,938
42001:Interest Income
272:223
60,000
24,544
24,000
24,000
46001:Bond Proceeds
4,740000
8,000,000
7,405,000
3,700,000
3,700,000
46002:Bond Premium
-
-
731,229
-
Revenue Total
23,503,548
26,315,000
18,348,273
14,369,938
14,369,938
Operations
470,487
2,387,337
2,386,565
2,747,716
2,747,716
Operating Capital
234,936
-
0
-
Capital
135,633
20,476,813
20,476,813
3,700,000
3,700,000
Debt Service
879,100
1,053,050
1,053,050
944,500
944,500
Transfers
2,403,361
2,763,242
2,763,242
3.232,111
3,232,111
Expense Total
4,123,518
26,680,442
26,679,671
10,624,327
10,624,327
Ending Fund Balance
31,029,699
22,698,301
26,443,912
26,443,912
Contingency
1,984,375
1,984,375
1,984,375
2,61-5,664
2,617,664
Debt Service Reserve
3,602,792
3,494,232
3,494,232
3,918,959
3,918,959
Reserves Total
5,587,167
5,478,607
5,478,607
6,536,623
- 6,536,623
Available Fund Balance
25,442,532
15,185,649
17,219,694
19,907,289
- 19,907,289