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HomeMy WebLinkAbout1st_Qtr_Report_FY2022A CARING COMMUNITY HONORING OUR PAST AND INNOVATING FOR THE FUTURE FY2022 Quarterly Report 1st Quarter Quarterly Financial Report FINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended December 31, 2021 Table of Contents General Fund Narrative ................................................................................................................................. 1‐6    General Fund Schedule .................................................................................................................................... 7    General Fund by Cost Center ...................................................................................................................... 8‐11    Electric Fund Narrative .............................................................................................................................. 12‐14    Electric Fund Schedule ................................................................................................................................... 15    Water Services Fund Narrative ................................................................................................................. 16‐18    Water Services Fund Schedule ....................................................................................................................... 19    Convention & Visitors Bureau Narrative ........................................................................................................ 20    Convention & Visitors Bureau Fund Schedule ............................................................................................... 21    Airport Fund Narrative .............................................................................................................................. 22‐23    Airport Fund Schedule .................................................................................................................................... 24    Joint Services Fund Schedule ......................................................................................................................... 25    Georgetown Transportation Enhancement Corporation Fund Narrative ................................................ 26‐27    Georgetown Transportation Enhancement Corporation Fund Schedule ..................................................... 28    Georgetown Economic Development Corporation Fund Narrative ......................................................... 29‐30    Georgetown Economic Development Corporation Fund Schedule .............................................................. 31    Council Discretionary Fund Schedule ............................................................................................................. 32    Quarterly Investment Report ‐ City ........................................................................................................... 33‐50    Quarterly Investment Report ‐ GEDCO ..................................................................................................... 51‐56    Quarterly Financial Report Quarterly Investment Report ‐ GTEC ........................................................................................................ 57‐62    Grant Applications .......................................................................................................................................... 63    Capital Improvement Projects ................................................................................................................... 64‐68    Long‐term Commitments and Other Unfunded Liabilities ....................................................................... 69‐73      Quarterly Financial Report EXECUTIVE SUMMARY FOR THE QUARTER ENDED DEC. 31, 2021 I.QUARTERLY FINANCIAL ANALYSIS Each year, the City amends the budget for multi-year capital projects, as well as operational changes that were unknown at the time the budget was adopted. While the “CIP Roll Forward” amendment second reading was approved in January, it is reflected in the 1st quarter financial report in the Budget column. This aligns the capital project budget with actual spend that has occurred in the 1st quarter of FY2022. Furthermore, this report compares actuals to budget, and compares the performance of actuals in the same quarter in the previous year. GENERAL FUND REVENUES General Fund revenues total $24,362,052, or 26.83% of budget through the end of the quarter. Revenues are greater than last year’s same quarter total by $1,021,496, or 4.38%. Municipal Court fines and Interest Income both decreased compared to the same period last year due to the pandemic circumstances. General Fund Quarterly Comparison: Q1 FY2022 Budget FY2021 FY2022 FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY2021 YTD Actuals: Q1 FY2022 Variance % of Budget Variance % Variance Revenue 40001:Property Taxes 17,100,000 9,241,457 9,151,312 (7,948,688) 53.52% (90,145) -0.98% 40002:Sales Taxes 23,955,859 1,825,349 2,189,990 (21,765,869) 9.14% 364,641 19.98% 40005:Franchise Taxes 6,266,830 842,126 983,198 (5,283,632) 15.69% 141,072 16.75% 40008:Other Taxes 420,000 51,779 25,338 (394,662) 6.03% (26,441) -51.07% 41001:Fines 311,150 42,799 58,347 (252,803) 18.75% 15,549 36.33% 41002:Penalties 85,000 24,740 28,888 (56,112) 33.99% 4,148 16.76% 42001:Interest Income 80,000 24,864 13,024 (66,976) 16.28% (11,840) -47.62% 43001:Fees 8,321,834 1,686,945 2,135,148 (6,186,686) 25.66% 448,203 26.57% 43002:Garbage Charges 10,600,000 2,756,982 3,009,161 (7,590,839) 28.39% 252,180 9.15% 43003:Permits 4,849,750 1,235,458 1,484,687 (3,365,063) 30.61% 249,229 20.17% 43004:Administrative Charges 2,721,543 848,125 679,073 (2,042,470) 24.95% (169,052) -19.93% 43005:Rental Revenue 54,040 67,516 37,781 (16,259) 69.91% (29,734) -44.04% 45001:Misc Revenue 855,935 62,844 58,184 (797,751) 6.80% (4,660) -7.42% 45003:Misc Reimbursements 15,000 -965 (14,035) 6.43% 965 0.00% 44001:Grant Revenue 185,000 191,687 - (185,000) 0.00% (191,687) -100.00% 44501:Contribution Revenue - - 296 296 0.00% 296 0.00% 44502:Developer Contributions - 216 168,109 168,109 0.00% 167,893 77620.21% 44503:Interlocal Agreement Revenue 5,700,557 1,183,773 1,323,293 (4,377,265) 23.21% 139,520 11.79% 44504:Donations - 4,776 2,197 2,197 0.00% (2,579) -54.00% 70001:Transfers In 410,407 995,302 410,407 -100.00% (584,895) -58.77% 70002:Transfers In - Payment in Lieu of Taxes (PILOT) 8,871,270 2,253,819 2,602,655 (6,268,615) 29.34% 348,836 15.48% Revenue Total 90,804,175 23,340,556 24,362,052 (66,442,123) 26.83% 1,021,496 4.38% 1 Quarterly Financial Report Sales tax revenue accounts for $23,955,859 of General Fund budgeted revenue. Through the quarter, the City has collected 9.14% of the budgeted sales tax amount, or $2,189,990. Sales tax data lags two months in arrears. Sales tax continues to have a strong performance - the quarterly returns for sales tax were 19.98% higher compared to the same period last year. This is the tenth month in a row with collections increases of +15%. The increase in sales tax revenue is the result of continued growth in the City’s core sales tax sectors of retail, food, and information, in combination with new businesses coming online. In March, staff plans to amend the budget to account for an additional 4.5% of sales tax revenue in FY2022, compared to the original 4.5% increase. Staff continues to monitor sales tax closely because of the potential volatility. Building Materials make up a large portion of retail sales, and this sub-industry is experiencing supply chain pressures. The continuance of COVID variants impact on consumer habits and other economic indicators is also cause for caution. Property tax revenues are the second largest revenue segment in the General Fund and has a budget of $17,100,000. Property tax revenue is typically received during the first two quarters of the fiscal year, with most of the taxes collected in December and January. Through the quarter, property tax year-to-date collections total 53.52% of budget, or $9,151,312. Year-to-date property tax revenues are -0.98% less than the same period last year. The City collects franchise fees for electric, natural gas, cable, and non-cellular telephone services. Through the quarter, franchise fee revenues total $983,198 in FY2022, or 15.69% of budget. Franchise fee revenue is 16.75% higher than the same quarter of FY2021. Payment in Lieu of Taxes (PILOT) revenue from City-owned utilities is budgeted at $8,871,270. Year-to-date, PILOT revenues total $2,602,655, or 29.34% of budget. PILOT revenue is $348,836, or 15.48%, higher than the first quarter of FY2021. While all utility funds PILOT is trending higher than budget, the major increase for the quarter is from Water and Wastewater. Planning and Development related revenue continues to be strong in FY2022. Planning and Development has a total revenue budget of $6,974,000. Through the quarter, planning and development reported revenues total $2,226,849 or 31.93% of budget. Permit fees are up 48.71%, or $245,830 compared to the same quarter in FY2021. Development related permits continue to be strong with year-to-date revenues up 19.58%, or $241,777 compared to year-to-date from FY2021. Staff continues to monitor the amount of residential and commercial building permits. A mid-year amendment will go to K 500K 1.0M 1.5M 2.0M 2.5M Q1 GENERAL FUND: SALES TAX FY2020 FY2021 FY2022 370 537 469 531 682 665 589 591 - 200 400 600 Q1 Q2 Q3 Q4 Residential Building Permits FY2020 FY2021 FY2022 2 Quarterly Financial Report Council in March to recognize additional commercial permitting revenue. The previous graph shows the number of residential building permits issued by quarter for the past 3 years. Sanitation revenue budget totals $10,600,000. Through the quarter, year-to-date revenues from sanitation is $3,009,161, or 28.39% of budget. Sanitation rates increased as part of the FY2021 budget to support demand for service as well as to support the debt service for a new transfer station. The variance between the same period last year is $252,180, or 9.15%. Fire and EMS total budgeted revenue is $8,155,290. Through the quarter, Fire and EMS fee related revenue totals $2,030,400, or 25% of budget. Additional Fire/EMS revenue is comprised of the Interlocal Agreement Emergency Services District 8 contract for service, as well as public safety grants revenue. Parks and Recreation fee revenue budget totals $2,476,234. Through the quarter, parks and recreation related fee revenue totals $592,139, or 23.91% of budget. Parks and Recreation revenue is up 98.41% compared to FY2021. The Parks and Recreation department has seen an increase in revenue compared to FY2021 as programming continues to increase to pre- COVID levels. 3 Quarterly Financial Report GENERAL FUND EXPENSES: Annual expenses through the quarter total $23,790,974, or 25.08% of budget. This is an increase of 17.74% compared to the same period last year. The increase is driven by increases in operational expense such as internal service allocations, and timing of transfers. Additionally, increase in expense compared to the same period last year is due to COVID and the winter storm and the general delay those events caused in entering into various consulting services contracts. Merit and market adjustments for personnel expenses are also a factor in the increase spending compared to last year. Personnel and Operations Summary: Personnel costs through the quarter total $11,470,657, or 22.19% of personnel budget. Operational costs total $10,343,393, or 25.44%. The table below includes all expenditures in the General Fund. Capital costs can fluctuate from year-to-year based on projects, timing, and various other factors, primarily in the Streets cost center. General Fund Quarterly Comparison: Q1 FY2022 Budget FY2021 FY2022 FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY2021 YTD Actuals: Q1 FY2022 Variance % Of Budget Variance % Variance Expense Personnel 51,688,811 10,461,668 11,470,657 40,218,154 22.19% (1,008,989) 9.64% Operations 40,654,990 8,841,780 10,343,393 30,311,597 25.44% (1,501,613) 16.98% Operating Capital 1,000,268 232,415 466,289 533,979 46.62% (233,874) 100.63% CIP Expense - 17,780 - - 0.00% 17,780 -100.00% Transfers 1,510,635 653,191 1,510,635 - 100.00% (857,444) 131.27% Total Expense 94,854,705 20,206,834 23,790,974 71,063,730 25.08% (3,584,140) 17.74% A complete list of cost center, and budget compared to actuals is attached as part of supplemental information to this report. Personnel and Operations Summary by Division: DEVELOPMENT SERVICES DIVISION: Through the quarter Planning has reported expenses totaling $576,846, or 16.51% of budget. Inspections incurred personnel and operational expenses amounting to $382,838, or 21.64% of budget. Year-to-date personnel and operational expenditures for Community Services are as follows, Community Services main cost center has a total of $75,218, or 18.79% of budget, through the quarter, Animal Services has reported $271,060, which is 21.94% of their budget, Code Compliance has shown spending of $148,049, or 24.75% of budget. Environmental Services incurred personnel and operational expenditures amounting to $1,684,325, or 17.35% of budget. Public Works personnel and operational expenditures for the quarter totals $631,663, which represents 31.86% of budget. Year-to-date expenditures related to personnel and operations for Streets totals $929,561, 20.78% of budget. FINANCE ADMINISTRATION DIVISION: Municipal Court year-to-date expenses total $131,802, or 21.39% of budget. This spending includes $106,865 for personnel costs and $24,937 for operational costs. 4 Quarterly Financial Report POLICE OPERATIONS DIVISION: Police Operations saw personnel and operational expenditures through the quarter totals $4,466,396, or 26.17% of budget. Police Administration expenditures through the quarter resulted in $702,408, or 25.01% of budget. FIRE AND EMS DIVISION: Year-to-date personnel and operational expenditures through the quarter total $1,102,517, or 23.76% of budget for Fire Support Services/Administration, $3,984,165, or 23.27% of budget for Fire Emergency Services, and $903,907, or 25.47% of budget for Fire EMS. Fire Emergency Services budget was budgeted with positions that typically are in the EMS cost center. The Fire budget is viewed at a division level which includes the roll-up of all Fire associated cost centers. The overall division is under budget in FY2022. ADMINISTRATIVE SERVICES DIVISION: Administrative Services saw operational and personnel costs totaling $625,842, or 27.06% of budget year-to-date. City Secretary personnel and operational expenditures for the quarter totals $239,260, which represents 20.72% of budget. Year-to-date personnel and operational expenditures for Communications totals $244,453, which represents 22.42% of budget. Non-Departmental includes a transfer out of $1,510,670, or 100.00% of anticipated transfer expense for the year. General Government Contracts includes budgeted vacancy savings estimates for all General Fund departments. Real vacancy savings is realized in each cost center. The budgeted vacancy factor against year-to-date actuals in the administrative division cost center drives the percent of budget up. Staff will adjust and forecast the vacancy factor as part of the FY2022 projections in the third quarter report. LIBRARY, TOURISM, AND ARTS AND CULTURE DIVISION: Arts and Culture recognized year to date expenses totaling $55,369, or 26.14% of budget. Library year-to-date expenses total $829,531, or 25.17% of budget. PARKS AND RECREATION DIVISION: Year-to-date personnel and operations costs for Parks and Recreation within the following cost centers: Parks Administrations, Parks, Garey Park, Tennis Center, Recreation, and Recreation Programs, comes to a total of $2,242,679, or 22.63% of budget. Parks year-to-date through the quarter totals $737,483, or 24.83% of budget. Recreational Programs total expenses are $1,932, which is 0.00% of budget. Garey Park year-to-date is $271,649, or 25.53% of budget. 5 Quarterly Financial Report Personnel and Operations Summary by Division General Fund Quarterly Comparison: Q1 FY2022 Budget Actuals FY2022 Year-to-date: Budget Vs. Actuals FY2022 YTD Actuals: Q1 FY2022 Variance % of Budget Development Services Personnel 6,366,988 1,298,937 5,068,051 20.40% Operations 16,143,558 3,150,749 12,992,809 19.52% Operating Capital 6,400 - 6,400 0.00% Development Services Total Expense 22,516,946 4,449,687 18,067,259 19.76% Finance Administration Personnel 505,155 106,865 5,863 21.15% Operations 110,918 24,937 (6,324) 22.48% Finance Administration Total Expense 616,073 131,802 484,271 21.39% Police Operations Personnel 14,448,477 3,312,078 11,136,399 22.92% Operations 4,771,500 1,429,239 3,342,261 29.95% Operating Capital 655,793 427,487 228,306 65.19% Police Operations Total Expense 19,875,770 5,168,804 14,706,966 26.01% Fire and EMS Personnel 19,627,319 4,524,925 15,102,395 23.05% Operations 5,389,954 1,435,535 3,954,419 26.63% Operating Capital 290,575 30,129 260,446 10.37% Fire and EMS Total Expense 25,307,849 5,990,589 19,317,260 23.67% Administrative Services, Arts and Culture Personnel 1,888,719 470,281 1,418,438 24.90% Operations 7,653,156 2,502,639 5,150,517 32.70% Operating Capital 45,000 - 45,000 0.00% Transfers 1,510,635 1,510,635 - 100.00% Administrative Services Total Expense 11,097,510 4,483,556 6,613,955 40.40% Library Personnel 1,989,290 414,071 1,575,220 20.81% Operations 1,305,957 412,692 893,264 31.60% Operating Capital - 2,768 (2,768) 0.00% Library 3,295,247 829,531 2,465,716 25.17% Parks and Recreation Personnel 5,210,614 1,026,817 4,183,797 19.71% Operations 4,698,495 1,212,859 3,485,636 25.81% Operating Capital 2,500 3,003 (503) 120.12% CIP Expense - - - 0.00% Parks and Recreation Total Expense 9,911,609 2,242,679 7,668,929 22.63% Community Services Division Personnel 1,652,249 316,684 1,335,564 19.17% Operations 581,452 174,741 406,711 30.05% Operating Capital - 2,902 (2,902) 0.00% Expense-Parks and Recreation 2,233,701 494,327 1,739,374 22.13% General Fund Total 94,854,705 23,790,974 71,063,730 25.08% 6 Quarterly Financial Report Fund Schedule: General Fund Period: Dec-21 Budget Current Period Budget Vs. Actuals FY2022 Dec-21 YTD Actuals w/Encumbrances Variance % of Budget Beginning Fund Balance 24,412,719 24,412,719 - 100.00% Revenue 40001:Property Taxes 17,100,000 7,453,568 9,151,312 (7,948,688) 53.52% 40002:Sales Taxes 23,955,859 2,123,442 2,189,990 (21,765,869) 9.14% 40005:Franchise Taxes 6,266,830 287,476 983,198 (5,283,632) 15.69% 40008:Other Taxes 420,000 - 25,338 (394,662) 6.03% 41001:Fines 311,150 15,419 58,347 (252,803) 18.75% 41002:Penalties 85,000 9,026 28,888 (56,112) 33.99% 42001:Interest Income 80,000 4,487 13,024 (66,976) 16.28% 43001:Fees 8,321,834 554,544 2,135,148 (6,186,686) 25.66% 43002:Garbage Charges 10,600,000 985,999 3,009,161 (7,590,839) 28.39% 43003:Permits 4,849,750 545,320 1,484,687 (3,365,063) 30.61% 43004:Administrative Charges 2,721,543 226,358 679,073 (2,042,470) 24.95% 43005:Rental Revenue 54,040 9,609 37,781 (16,259) 69.91% 45001:Misc Revenue 855,935 4,318 58,184 (797,751) 6.80% 45003:Misc Reimbursements 15,000 724 965 (14,035) 6.43% 44001:Grant Revenue 185,000 - - (185,000) 0.00% 44501:Contribution Revenue - 296 296 296 0.00% 44502:Developer Contributions - - 168,109 168,109 0.00% 44503:Interlocal Agreement Revenue 5,700,557 1,323,293 1,323,293 (4,377,265) 23.21% 44504:Donations - 2,197 2,197 2,197 0.00% 70001:Transfers In 410,407 410,407 410,407 - 100.00% 70002:Transfers In - Payment in Lieu of Taxes (PILOT) 8,871,270 741,005 2,602,655 (6,268,615) 29.34% Revenue Total 90,804,175 14,697,485 24,362,052 (66,442,123) 26.83% Expense City of Georgetown (Only) - - - - 0.00% CC0001 Non-Departmental 1,510,635 1,510,670 1,510,670 3,021,305 100.00% CC0107 Planning 3,493,661 153,358 576,846 4,070,508 16.51% CC0202 Parks Administration 734,701 64,202 177,758 912,459 24.19% CC0208 CVB - (236) - - 0.00% CC0210 Library 3,295,247 253,241 829,531 4,124,778 25.17% CC0211 Parks 2,969,839 243,256 737,483 3,707,322 24.83% CC0212 Recreation 4,630,251 315,308 949,485 5,579,737 20.51% CC0213 Tennis Center 512,912 44,153 104,371 617,283 20.35% CC0214 Recreation Programs - 2,081 1,932 1,932 0.00% CC0215 Garey Park 1,063,906 78,591 271,649 1,335,555 25.53% CC0218 Arts and Culture 211,809 13,841 55,369 267,178 26.14% CC0254 Poppy Festival - (4,195) - - 0.00% CC0316 Municipal Court 616,073 50,051 131,802 747,875 21.39% CC0402 Fire Support Services/Administration 4,641,030 371,051 1,102,517 5,743,546 23.76% CC0422 Fire Emergency Services 17,118,066 1,403,402 3,984,165 21,102,231 23.27% CC0448 EMS 3,548,753 271,276 903,907 4,452,660 25.47% CC0525 T&D Services - (65) - - 0.00% CC0533 Environmental Services 9,707,764 830,642 1,684,325 11,392,089 17.35% CC0536 Inspection Services 1,769,388 141,318 382,838 2,152,226 21.64% CC0602 Administrative Services 2,313,217 160,187 625,842 2,939,060 27.06% CC0605 Community Services 400,264 (3,574) 75,218 475,483 18.79% CC0634 City Council Services 205,570 15,905 54,769 260,339 26.64% CC0635 City Secretary Services 1,154,634 79,177 239,260 1,393,893 20.72% CC0638 General Government Contracts 5,701,645 501,803 1,997,645 7,699,290 35.04% CC0639 Human Resources - - - - 0.00% CC0655 Communications/Public Engagement 1,090,475 79,247 244,453 1,334,928 22.42% CC0702 Police Administration 2,809,065 209,173 702,408 3,511,473 25.01% CC0742 Police Operations 17,066,705 1,418,309 4,466,396 21,533,101 26.17% CC0744 Animal Services 1,235,215 86,926 271,060 1,506,275 21.94% CC0745 Code Compliance 598,221 45,858 148,049 746,270 24.75% CC0802 Public Works 1,982,576 83,918 631,663 2,614,239 31.86% CC0846 Streets 4,473,082 257,384 929,561 5,402,643 20.78% Expense Total 94,854,705 8,676,259 23,790,974 71,063,730 25.08% Excess (Deficiency) of Total Revenue over Total Requirements (4,050,530) 6,021,226 571,078 4,621,608 -14.10% Ending Fund Balance 20,362,189 24,983,797 4,621,608 122.70% Reserves AFR Adjustment - - - 0.00% Benefit Payout Reserve 340,000 340,000 - 100.00% Contingency Reserve 15,904,392 12,626,752 (3,277,640) 79.39% Economic Stability Reserve 3,850,569 1,467,563 (2,383,006) 38.11% Reserves Total 20,094,961 14,434,315 (5,660,646) 71.83% Available Fund Balance 267,228 10,549,482 10,282,254 3947.74% 7 Quarterly Financial Report General Fund Quarterly Comparison: Q1 FY2022  Budget  Actuals  FY2022 YTD Actuals: Q1 FY2022 Variance % of Budget Planning Personnel 1,731,368 309,896 1,421,472 17.90% Operations 1,755,894 266,950 1,488,943 15.20% Operating Capital 6,400 - 6,400 0.00% Planning Total Expense 3,493,661 576,846 2,916,815 16.51% Library Personnel 1,989,290 414,071 (27,879) 20.81% Operations 1,305,957 412,692 (101,414) 31.60% Operating Capital - 2,768 (2,768) 0.00% Library Total Expense 3,295,247 829,531 (132,061) 25.17% Parks Administration Personnel 306,013 72,482 233,531 23.69% Operations 428,688 428,688 0.00% Parks Administration Total Expense 734,701 177,758 556,943 24.19% Parks Personnel 1,665,542 355,363 1,310,179 21.34% Operations 1,301,796 379,117 922,680 29.12% Operating Capital 2,500 3,003 (503) 120.12% CIP Expense - - - 0.00% Parks Total Expense 2,969,839 737,483 2,232,355 24.83% Recreation Personnel 2,472,757 434,731 2,038,026 17.58% Operations 2,157,494 514,754 1,642,740 23.86% Recreation Total Expense 4,630,251 949,485 3,680,766 20.51% Tennis Center Personnel 265,410 53,605 211,805 20.20% Operations 247,502 50,766 196,736 20.51% Tennis Center Total Expense 512,912 104,371 408,540 20.35% Recreation Programs Personnel - - - 0.00% Operations - 1,932 (1,932) 0.00% Recreation Programs Total Expense - 1,932 (1,932) 0.00% Garey Park Personnel 500,892 110,635 390,256 22.09% Operations 563,014 161,014 402,000 28.60% Operating Capital - - - 0.00% Garey Park Total Expense 1,063,906 271,649 792,256 25.53% FY2022 Year‐to‐date: Budget Vs. Actuals 8 Quarterly Financial Report General Fund Quarterly Comparison: Q1 FY2022  Budget  Actuals  FY2022 YTD Actuals: Q1 FY2022 Variance % of Budget FY2022 Year‐to‐date: Budget Vs. Actuals Arts and Culture Operations 139,045 37,920 101,125 27.27% Personnel 72,764 17,449 55,316 23.98% Arts and Culture Total Expense 211,809 55,369 156,440 26.14% Municipal Court Personnel 505,155 106,865 398,290 21.15% Operations 110,918 24,937 85,981 22.48% Municipal Court Total Expense 616,073 131,802 484,271 21.39% Fire Support Services/Administration Personnel 2,874,393 591,879 2,282,514 20.59% Operations 1,728,840 494,152 1,234,688 28.58% Operating Capital 37,797 16,486 21,311 43.62% Fire Support Total Expense 4,641,030 1,102,517 3,538,513 23.76% Fire Emergency Services Personnel 14,196,083 3,380,375 10,815,709 23.81% Operations 2,827,180 590,147 2,237,034 20.87% Operating Capital 94,802 13,644 81,159 14.39% Fire Emergency Services Total Expense 17,118,066 3,984,165 13,133,901 23.27% EMS Personnel 2,556,844 552,671 2,004,173 21.62% Operations 833,933 351,236 482,697 42.12% Operating Capital 157,976 - 157,976 0.00% EMS Total Expense 3,548,753 903,907 2,644,846 25.47% Inspection Services Personnel 1,577,913 343,331 1,234,581 21.76% Operations 191,476 39,507 151,969 20.63% Inspection Services Total Expense 1,769,388 382,838 1,386,550 21.64% Administrative Services Personnel 1,678,333 287,442 1,390,891 17.13% Operations 634,884 338,400 296,484 53.30% Administration Services Total Expense 2,313,217 625,842 1,687,375 27.06% Community Services Personnel 275,788 54,529 221,259 19.77% Operations 124,476 20,689 103,787 16.62% Community Services Total Expense 400,264 75,218 325,046 18.79% City Secretary 9 Quarterly Financial Report General Fund Quarterly Comparison: Q1 FY2022  Budget  Actuals  FY2022 YTD Actuals: Q1 FY2022 Variance % of Budget FY2022 Year‐to‐date: Budget Vs. Actuals Personnel 617,012 129,969 487,043 21.06% Operations 537,622 109,291 428,331 20.33% City Secretary Total Expense 1,154,634 239,260 915,374 20.72% Communications/ Public Engagement Personnel 677,545 133,435 544,110 19.69% Operations 412,929 111,018 301,911 26.89% Communications Total Expense 1,090,475 244,453 846,021 22.42% Police Administration Personnel 691,149 147,469 543,680 21.34% Operations 2,117,915 554,939 1,562,976 26.20% Police Administration Total Expense 2,809,065 702,408 2,106,657 25.01% Police Operations Personnel 13,757,327 3,164,609 10,592,719 23.00% Operations 2,653,585 874,300 1,779,284 32.95% Operating Capital 655,793 427,487 228,306 65.19% Police Operations Total Expense 17,066,705 4,466,396 12,600,309 26.17% Animal Services Personnel 887,082 156,474 730,608 17.64% Operations 348,133 114,585 233,547 32.91% Animal Services Total Expense 1,235,215 271,060 964,156 21.94% Code Compliance Personnel 489,378 105,681 383,697 21.59% Operations 108,843 39,467 69,376 36.26% Operating Capital - 2,902 (2,902) 0.00% Code Compliance Total Expense 598,221 148,049 450,172 24.75% Public Works Personnel 657,705 147,438 510,267 22.42% Operations 1,324,871 484,225 840,646 36.55% Public Works Total Expense 1,982,576 631,663 1,350,913 31.86% Streets Personnel 1,722,458 364,837 1,357,621 21.18% Operations 2,750,624 564,724 2,185,900 20.53% Operating Capital - - - 0.00% Streets Total Expense 4,473,082 929,561 3,543,521 20.78% Environmental Services Operations 9,707,764 1,684,325 8,023,439 17.35% 10 Quarterly Financial Report General Fund Quarterly Comparison: Q1 FY2022  Budget  Actuals  FY2022 YTD Actuals: Q1 FY2022 Variance % of Budget FY2022 Year‐to‐date: Budget Vs. Actuals Environmental Services Total Expense 9,707,764 1,684,325 8,023,439 17.35% Non‐Departmental Operations - 35 (35) 0.00% Transfers 1,510,635 1,510,635 - 100.00% Non-Departmental Total Expense 1,510,635 1,510,670 (35) 100.00% General Government Contracts Operations 6,299,105 1,997,645 4,301,460 31.71% Personnel (642,460) - (642,460) 0.00% Operating Capital 45,000 - 45,000 0.00% General Government Contracts Expense 5,701,645 1,997,645 3,704,000 35.04% Operations 42,500 19,348 23,152 45.52% Personnel 163,070 35,421 127,648 21.72% CC0634 City Council Services 205,570 54,769 150,800 26.64% General Fund Total Expenses 94,854,705            23,790,974            71,063,730            25.08% 11 Quarterly Financial Report   UTILITY FUNDS:    Electric Fund:   The City continues to employ several strategies to maintain the improved performance of the Electric Fund in relation to  past and current expenditures for purchased power contracts. These strategies include reviewing rates, selling Renewable  Energy Credits (RECs), and contracting professional services for energy portfolio management and risk oversight. The  extraordinary costs of Winter Storm Uri in February of 2021 resulted in the City debt‐financing $48 million over 9.5 years.  Additionally, the City is using regulatory asset accounting to amortize the purchased power expenses from the storm on an  initial 20 year schedule. Both of these schedules will be reviewed for opportunities to advance more quickly, while balancing  the affordability of rates and the overall financial targets for the Electric Fund.     As part of the FY2022 budget development process, the utilities reviewed various initiatives to improve resiliency to extreme  weather, including those required by legislation. Both utilities are going through cost of service studies to ensure that rates  cover these resiliency efforts, the growth pressure and infrastructure demand on the system, and financial targets for  liquidity and debt coverage.  Staff will bring recommendations to Council in spring of FY2022.     ELECTRIC REVENUE:    Operating revenue in the Electric Fund totals $21,748,130 through the quarter, or 23.41% of budget. Electric sales revenue,  the largest component of operating revenue, has brought in $18,067,440 through the quarter, totaling 21.12% of Electric  charges budget.  This is the final quarter comparing the change in the Power Cost Adjustment (PCA), which was reduced by  1 cent per kWh to 1.375 cents in January of 2021 to improve rate competitiveness for customers.  Electric Sales revenue  are typically higher in the summer months when consumption increases due to hot weather.  Developer contributions were  conservatively budgeted at $2,500,000. Year‐to‐date collection totals $2,466,728, or 98.67% of budget. Developer  contributions drive the need for utility infrastructure. While there is an increase in revenue, there are more new  development project expenses than anticipated. Due to global supply chain issues, the cost of material for electric  infrastructure projects increased significantly. These cost increases also resulted in increased capital expenses. Developer  Contributions and capital expenses will be evaluated and staff will bring back recommendations in the mid‐year budget  amendment.    Electric Services         Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022  FY2022 Year‐to‐date:   Budget  Vs. Actuals Quarterly Comparison   FY2022 YTD Actuals:  Q1 FY21  YTD Actuals:  Q1 FY22 Variance % of Budget Variance % Variance  Operating Revenue         40002:Sales Taxes  5,000    872    1,723     (3,277) 34.47%  852  97.70% 41002:Penalties  600,000    223,636    203,174  (396,826) 33.86%  (20,462)‐9.15% 42001:Interest Income  11,000    14,536    8,753     (2,247) 79.57%  (5,783)‐39.79% 43001:Fees  691,000    298,506    115,384  (575,616) 16.70%  (183,122)‐61.35% 43004:Administrative Charges  3,539,712    805,526    884,928  (2,654,784) 25.00%  79,402 9.86% 43601:Electric Sales Charges  85,541,593    18,996,014    18,067,440  (67,474,153) 21.12%  (928,573)‐4.89% 44502:Developer Contributions  2,500,000    2,142,271    2,466,728  (33,272) 98.67%  324,457 15.15% 70001:Transfers In  ‐  379,308    ‐   ‐0.00%  (379,308)‐100.00% Operating Revenue Total  92,888,305    22,860,667     21,748,130  (71,140,175) 23.41% (1,112,538)‐4.87%          Non‐Operating Revenue         45001:Misc Revenue  35,000    16,586    47,006  12,006 134.30%  30,420 183.41% 45004:Sale of Property  1,665,840    2,559    1,128,187     (537,653) 67.72%  1,125,628  43989.61% 46001:Bond Proceeds  11,961,500    ‐  ‐   (11,961,500) 0.00%  ‐0.00% Non‐Operating Revenue Total  13,662,340    19,145     1,175,193  (12,487,147) 8.60% 1,156,048 6038.48%          Revenue Total  106,550,645    22,879,812    22,923,323  (83,627,322) 21.51%  43,511 0.19% 12 Quarterly Financial Report     The budget for non‐operating revenue totals  $13,662,340 in FY2022. Currently, the city intends to  issue $11,961,500 in bond proceeds for capital projects.  The  City will recognize bond proceeds as part of the annual  debt sale in the spring.  Bond proceeds will be reflected in  the third quarter report. Renewable Energy Credits  (REC) sales total $1,124,625, or 112.46% of budget  through the quarter.  Pricing of RECs continued to be  favorable for the City in the first quarter.  Recognizing  additional REC sales revenue is part of a budget  amendment set to go to Council on March 8, 2022.    ELECTRIC EXPENSES:  Operating expenses in the Electric Fund total  $21,725,829 through the quarter. Year‐to‐date  purchase power expenses total $14,649,515, while net congestion revenue rights (CRRs) credits total $(238,747). This is  due to congestion in the grid.  October and November were under budget, and December was over budget. The net result  is $1 million under budget for purchased power for the quarter (not including REC sales). The City continued to use a hedging  strategy for the winter to avoid price spikes in the market. December was mild weather, and adjusted meter load was down  3.7% compared to the previous December.  Electric Engineering and Transmission and Distribution (T&D) cost centers look  inflated. This is because of capitalization of labor being budgeted in capital expense while the actuals are booked to the  operating budget.  The labor will be capitalized to the appropriate capital improvement project on the final year‐end  financial statements.      Electric Services         Quarterly Comparison: Q1 FY22 Budget FY2020 FY2021  FY2022 Year‐to‐date:   Budget  Vs. Actuals Quarterly Comparison   FY2022 YTD Actuals:  Q1 FY21  YTD Actuals:  Q1 FY22 Variance % of Budget Variance % Variance  Operating Expense         CC0001 Non‐Departmental  6,963,362    2,009,251    2,385,532    4,577,830  34.26%  (376,281) 18.73% CC0521 Operational Technology  1,131,831    168,010    148,999    982,833  13.16%  19,011   ‐11.32% CC0522 Electric Administration  9,711,489    2,078,471    2,473,716    7,237,774  25.47%  (395,245) 19.02% CC0523 Electric Safety and  Employee Development  397,325    ‐  26,510    370,815  6.67%  (26,510) 0.00% CC0524 Metering Services  2,148,593    432,949    448,807    1,699,786  20.89%  (15,858) 3.66% CC0525 T&D Services  2,851,546    868,072    1,296,750    1,554,797  45.48%  (428,677) 49.38% CC0526 Systems Engineering  ‐  178,467    15,698    (15,698) 0.00%  162,770   ‐91.20% CC0537 Electric Resource  Management  55,493,445    17,070,075    14,215,146    41,278,298  25.62%  2,854,929   ‐16.72% CC0555 Electric Systems  Operations  1,841,095    360,807    388,942    1,452,153  21.13%  (28,134) 7.80% CC0557 Electrical Engineering  888,773    222,783    325,731    563,042  36.65%  (102,948) 46.21% Operating Expense Total  81,427,459    23,388,885     21,725,829    59,701,630  26.68% 1,663,056   ‐7.11%              Non‐Operating Expense         CC0001 Non‐Departmental  9,947,271    ‐  ‐  9,947,271  0.00%  ‐0.00% CC0557 Electrical Engineering  17,526,230    754,264    5,789,964    11,736,266  33.04%  (5,035,701) 667.63% Expense  27,473,501     5,789,964    21,683,537  21.07%                Expense Total  108,900,960    24,143,149    27,515,793    81,385,167  25.27%  (3,372,645) 13.97% K 5.0M 10.0M 15.0M 20.0M 25.0M Q1 ELECTRIC FUND: ELECTRIC SALES  CHARGES  FY2020  FY2021  FY2022 13 Quarterly Financial Report   The Electric department reorganized several personnel and operating expenses between cost centers and created new cost  centers as part of the FY2022 budget. These changes result in some variances compared to the same quarter the prior year.      Non‐operating expenditures are budgeted at $27,473,501 in FY2022. Budgeted non‐operating expenditures include  $17,526,230 for capital projects and $9,947,271 for debt service payments, both of which typically trend towards later  quarters. The Capital Project Roll Forward amendment included $6.6 million of active projects. These encumbrances  combined with increased New Development, shows an accelerated CIP spending in Electric Engineering compared to the  previous year.  As previously mentioned, a significant portion of labor expenses for capital projects will be journaled at the  end of the fiscal year, bringing operations and capital expense in balance with their budgets.    The Electric Fund anticipates meeting all the fund’s below line reserve requirements in FY2022.  Contingency requirements  include a 90‐day operating contingency of $6,426,561, a non‐operating reserve totaling $6,049,061, reserve for bond  proceeds of $4,069,154, as well as re‐establishing a rate stabilization reserve in the amount of $18,600,000.                                                                        14 Quarterly Financial Report   Fund Schedule:    Electric Services  Period: Dec‐21 Budget Current Period Year‐to‐date  FY2022 Year‐to‐date: Budget Vs.  Actuals   FY2022 Dec‐21 YTD Actuals  w/Encumbrances Variance % of Budget  Beginning Fund Balance  38,917,065     38,917,065   ‐100.00%        Operating Revenue       40002:Sales Taxes  5,000    513   1,723   (3,277)34.47% 41002:Penalties  600,000    43,950    203,174    (396,826)33.86% 42001:Interest Income  11,000    2,771    8,753   (2,247)79.57% 43001:Fees  691,000    45,630    115,384    (575,616)16.70% 43004:Administrative Charges  3,539,712    884,928    884,928    (2,654,784)25.00% 43601:Electric Sales Charges  85,541,593    5,849,001    18,067,440    (67,474,153) 21.12% 44502:Developer Contributions  2,500,000    1,168,294    2,466,728    (33,272)98.67% 70001:Transfers In  ‐  ‐  ‐  ‐0.00% Total Operating Revenue  92,888,305    7,995,089    21,748,130    (71,140,175)23.41%        Operating Expense       CC0001 Non‐Departmental  6,963,362    1,474,853    2,385,532    (4,577,830)34.26% CC0254 Poppy Festival  ‐  (851) ‐  ‐0.00% CC0521 Operational Technology  1,131,831    48,905   148,999    (982,833)13.16% CC0522 Electric Administration  9,711,489    888,379   2,473,716    (7,237,774)25.47% CC0523 Electric Safety and Employee Development  397,325   2,510   26,510    (370,815)6.67% CC0524 Metering Services  2,148,593    123,164    448,807    (1,699,786)20.89% CC0525 T&D Services  2,851,546    401,613   1,296,750    (1,554,797)45.48% CC0526 Systems Engineering  ‐  5,233    15,698    15,698  0.00% CC0537 Electric Resource Management  55,493,445    4,729,061    14,215,146    (41,278,298) 25.62% CC0555 Electric Systems Operations  1,841,095    141,572    388,942    (1,452,153)21.13% CC0557 Electrical Engineering  888,773    117,122    325,731    (563,042)36.65% Total Operating Expense  81,427,459    7,931,560    21,725,829    59,701,630  26.68%        Net Operations Total  11,460,846    22,301    (130,841,806)0.19%        Non‐Operating Revenue       45001:Misc Revenue  35,000    3,588    47,006    12,006  134.30% 45004:Sale of Property  1,665,840    1,993    1,128,187    (537,653)67.72% 46001:Bond Proceeds  11,961,500    ‐  ‐  (11,961,500) 0.00% Total Non‐Operating Revenue  13,662,340    5,581    1,175,193    (12,487,147)8.60%        Non‐Operating Expense       CC0001 Non‐Departmental  9,947,271   ‐ ‐  9,947,271  0.00% CC0557 Electrical Engineering  17,526,230    352,590    5,789,964    11,736,266  33.04% Total Non‐Operating Expense  27,473,501    352,590    5,789,964    21,683,537  21.07%        Excess (Deficiency) of Total Revenue over Total  Requirements  (2,350,315) (283,481) (4,592,470) (2,242,155) 195.40%        Ending Fund Balance  36,566,750     34,324,595    (2,242,155)93.87%        Reserves       Rate Stabilization  18,600,000     18,600,000    ‐100.00% Non‐Operating Reserve  6,049,061    6,049,061   ‐100.00% Operating Contingency Reserve  6,426,561     6,426,561    ‐100.00% Transformer Reserve  4,069,154     4,069,154    ‐100.00% Reserves Total  35,144,776    35,144,776   ‐100.00%        Available Fund Balance  1,421,974    (820,181) (2,242,155)‐57.68% 15 Quarterly Financial Report   F  FY2021 Quarterly Report  FY2021 Quarterly Report  K 5.0M 10.0M 15.0M FY2020 FY2021 FY2022 Q1 WATER FUND: CHARGES FOR SERVICES Irrigation Charges Wastewater Charges Water Charges Water Fund:   WATER REVENUE:  Year‐to‐date Operating revenue totals $29,690,073, or 32.17% of budget. The largest revenue streams in the Water Fund  are charges for services for water, wastewater, and irrigation use. Through the quarter, Water Charges total $8,732,868,  which is 24.19% of budget. Year‐to‐date, Wastewater Charges are $4,120,227, or 28.42% of budget.  Irrigation Charges  total $109,863 for the quarter, or 36.62% of budget. Increases in number of meters and customers as well as rate  increase effective January 1, 2021, have proven to significantly increase year‐to‐date revenues for the Water Fund.  The budget for Impact Fees for the fiscal year is $31,890,000. Through the quarter, impact fee revenues total  $10,600,055, or 33.24% of budget. The increase in impact fees is attributed to growth as well as an increase in the  installation of meters that are larger in diameter such as meters used for multi‐family housing. Impact fees are also going  to show cyclical increases.  The City has approved many out of City MUDS.  These muds are required to pay impact fees at  plat recordation in lieu of building permit.  This means that when a MUD records a plat, we will see an instantaneous  increase in impact fees, however it will take time for the builders to begin consuming the meters associated with those  prepaid fees.  Impact fees are used for funding capital infrastructure approved in the impact fee plan. They may be used  as a cash equivalent, or to repay debt service for the projects. Staff recently completed a reconciliation of impact fees  available to assist with the needed expansion of the South Lake Treatment Plant, along with other large projects.  Water         Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022  FY2022 Year‐to‐date:     Budget  Vs. Actuals Quarterly Comparison   FY2022 YTD Actuals:  Q1 FY21  YTD Actuals:  Q1 FY22 Variance % of Budget  Variance % Variance  Operating Revenue         41002:Penalties  315,000    136,031     163,859  (151,141) 52.02% 27,828 20.46% 42001:Interest Income  390,000    161,142     64,400    (325,600) 16.51% (96,741)‐60.03% 43001:Fees  7,877,000    2,305,932     5,704,218    (2,172,782) 72.42% 3,398,287  147.37% 43005:Rental Revenue  50,000    48,294     51,905    1,905  103.81% 3,611  7.48% 43602:Water Charges  36,100,000    8,724,206     8,732,868  (27,367,132) 24.19% 8,663 0.10% 43603:Wastewater Charges  14,500,000    3,448,001     4,120,227  (10,379,773) 28.42% 672,226 19.50% 43604:Irrigation Charges  300,000    91,370     109,863    (190,138) 36.62% 18,493  20.24% 41602:Impact Fees  31,890,000    6,500,314     10,600,055    (21,289,945) 33.24% 4,099,741  63.07% 44502:Developer  Contributions  767,240    ‐   27,677    (739,563) 3.61% 27,677  0.00% 70001:Transfers In  115,000    ‐   115,000  ‐100.00% 115,000 0.00% Operating Revenue Total  92,304,240    21,415,289    29,690,073  (62,614,167) 32.17%  8,274,783 38.64%          Non‐Operating Revenue         45001:Misc Revenue  1,462,000    220     117,776    (1,344,224) 8.06% 117,556  53434.53% 46001:Bond Proceeds  156,600,000    ‐   ‐  (156,600,000) 0.00% ‐0.00% Non‐Operating Revenue Total  158,062,000    220    117,776    (157,944,224) 0.07%  117,556  53434.53%          Revenue Total  250,366,240    21,415,509     29,807,849  (220,558,391) 11.91% 8,392,339 39.19%   16 Quarterly Financial Report   F  FY2021 Quarterly Report  FY2021 Quarterly Report  K 250K 500K 750K 1.0M Oct Nov Dec WATER FUND: CONSUMPTION  (KGALS) FY2020 FY2021 FY2022 Total Water Fund operating revenue is up 38.64%  compared to the same period last fiscal year due to  growth in sales and collections in impact fees. Through  the quarter water consumptions is down 17% compared to  the first quarter of FY2021.      The budget for non‐operating revenue totals  $158,062,000 in FY2022. This total includes bond  proceeds for capital projects in the amount of  $156,600,000. The majority of this is for the Southlake  Treatment Plant, one of the largest capital projects the  city has ever constructed. Prior to the revenue bond debt  sale this spring, staff will update the financial plan for the  plant between bond proceeds and impact fees.  Construction bids were recently received, and inflation  costs are being incorporated into the plan. The City has not recognized bond proceed and premium revenues as this will  fall in line with the annual debt sale in the spring.     Staff and the consultant are bringing the preliminary results of Phase 2 of a cost of service study to council workshop on  February 22. The study proposes changes to increase equity between customer classes, and proposes rate increases to  pay for the debt service and operating costs of new infrastructure. After Council feedback, changes will be incorporated  and adopted in the FY2023 budget.    WATER EXPENSES:  Operating expenditures in the Water Fund total $17,711,230 through the quarter, or 30.41% of budget. Overall, all  personnel is tracking in line with budget.  The Water Fund does have a few annual encumbrances that make the year‐to‐ date appear high in comparison to the first quarter of the fiscal year.  Water Services Administration is trending higher  than anticipated because of an annual amount encumbered in the quarter.  The encumbrance is for a consultant for a  multi‐phase project to determine if Aquifer Storage and Recovery (ASR) will be an effective and economic water  management strategy to meet the max day demands and long‐term water supply needs of Georgetown.  Wastewater  Plant Management is also trending higher than anticipated for the quarter.  This is also attributed to an annual amount  encumbered in the quarter.  The encumbrance is related to chemical supplies, and  wastewater laboratory analysis  services related to permit compliance, process control, and state required study.                              17 Quarterly Financial Report   F  FY2021 Quarterly Report  FY2021 Quarterly Report          Water Services Financial Report           Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022  FY2022 Year‐to‐date:    Budget  Vs. Actuals Quarterly Comparison   FY2022 YTD Actuals:  Q1 FY21  YTD Actuals:  Q1 FY22 Variance % of Budget Variance % Variance  Operating Expense         CC0001 Non‐Departmental  5,069,426    1,212,948    2,132,692  2,936,734 42.07% (919,744) 75.83% CC0526 Systems Engineering  ‐  275,658    ‐  ‐0.00% 275,658   ‐100.00% CC0527 Water Services  Administration  32,789,524    8,368,710    10,304,886  22,484,637 31.43% (1,936,176) 23.14% CC0528 Water Distribution  4,267,459    884,315    825,898    3,441,561  19.35% 58,418   ‐6.61% CC0529 Water Plant Management  4,593,832    1,305,531    1,370,939  3,222,893 29.84% (65,408) 5.01% CC0530 Wastewater Operations  1,158,995    260,752    407,881  751,114 35.19% (147,129) 56.43% CC0531 Wastewater Plant  Management  4,096,934    1,162,964    1,526,983  2,569,950 37.27% (364,019) 31.30% CC0532 Irrigation Operations  295,000    57,213    72,337    222,663  24.52% (15,124) 26.43% CC0535 Water Conservation  1,005,032    ‐  ‐  1,005,032  0.00% ‐0.00% CC0553 Water Operations  4,967,065    (4,578,810) 1,069,615  3,897,451 21.53% (5,648,425)‐123.36% Operating Expense Total  58,243,267    8,949,281     17,711,230  40,532,036 30.41% (8,761,949) 97.91%          Non‐Operating Expense         CC0001 Non‐Departmental  5,129,217    ‐  ‐  5,129,217  0.00% ‐0.00% CC0526 Systems Engineering  271,805,749    21,363,732    28,565,140  243,240,609 10.51% (7,201,408) 33.71% CC0532 Irrigation Operations  308,000    ‐  ‐  308,000  0.00% ‐0.00% CC0530 Wastewater Operations  2,803,196    ‐  ‐  2,803,196  0.00% ‐0.00% CC0528 Water Distribution  ‐  456,600   ‐ ‐0.00% 456,600   ‐100.00% CC0553 Water Operations  10,589,904    20,640,252    1,145,453    9,444,451  10.82% 19,494,799   ‐94.45% CC0524 Metering Services  750,000   ‐ ‐  750,000  0.00% ‐0.00% Non‐Operating Expense Total  291,386,065    42,460,584     29,710,594  261,675,472 10.20% 12,749,991 ‐30.03%          Expense  349,629,332    51,409,865    47,421,824  302,207,508 86.44% 3,988,041 ‐7.76%   Non‐operating expense are budgeted at $291,386,065 in FY2022. Expenses total $29,710,594 through the quarter.  Non‐ operating expenses reflect the capital project rollforward amendment that was approved by Council in January.      The Water Fund anticipates meeting all the funds below line reserve requirements by the end of FY2022.  Contingency  requirements include a 90‐day operating contingency of $10,723,871, a non‐operating reserve of $10,000,000, and an  Impact Fee reserve of $3,190,000.                      18 Quarterly Financial Report   F  FY2021 Quarterly Report  FY2021 Quarterly Report    Fund Schedule:  Water Services  Period: Dec‐21 Budget Current Period Year‐to‐date Actuals Budget Vs. Actuals   FY2022 Dec‐21 YTD Actuals  w/Encumbrances Variance % of Budget  Beginning Fund Balance  158,229,355     158,229,355    ‐100.00%        Operating Revenue       41002:Penalties  315,000    50,702   163,859    (151,141) 52.02% 42001:Interest Income  390,000    21,453   64,400    (325,600) 16.51% 43001:Fees  7,877,000    805,741   5,704,218    (2,172,782) 72.42% 43005:Rental Revenue  50,000    1,825    51,905    1,905  103.81% 43602:Water Charges  36,100,000    2,781,649    8,732,868    (27,367,132) 24.19% 43603:Wastewater Charges  14,500,000    1,371,976    4,120,227    (10,379,773) 28.42% 43604:Irrigation Charges  300,000    20,419    109,863    (190,138) 36.62% 41602:Impact Fees  31,890,000    1,744,467    10,600,055    (21,289,945) 33.24% 44502:Developer Contributions  767,240    27,677   27,677    (739,563)3.61% 70001:Transfers In  115,000    115,000    115,000    ‐100.00% Total Operating Revenue  92,304,240     6,940,908    29,690,073     (62,614,167) 32.17%        Operating Expenses       CC0001 Non‐Departmental  5,069,426    1,232,808    2,132,692    2,936,734  42.07% CC0526 Systems Engineering  ‐ ‐ ‐ ‐0.00% CC0527 Water Services Administration  31,289,524  2,787,192    10,304,886    20,984,637 32.93% CC0528 Water Distribution  4,267,459    207,625   825,898    3,441,561  19.35% CC0529 Water Plant Management  4,593,832    247,340   1,370,939    3,222,893  29.84% CC0530 Wastewater Operations  1,158,995   89,667   407,881    751,114  35.19% CC0531 Wastewater Plant Management  4,096,934    359,541    1,526,983    2,569,950  37.27% CC0532 Irrigation Operations  295,000    7,129    72,337    222,663  24.52% CC0535 Water Conservation  1,005,032    ‐  ‐  1,005,032  0.00% CC0553 Water Operations  4,967,065    394,256   1,069,615    3,897,451  21.53% Operating Expense Total  56,743,267  5,325,559    17,711,230     39,032,036 31.21%        Available Operating Fund Balance  35,560,973   11,978,842     (101,646,204)         Non‐Operating Revenue       45001:Misc Revenue  1,462,000    25,605   117,776    (1,344,224)8.06% 46001:Bond Proceeds  156,600,000    ‐  ‐  (156,600,000)0.00% Non‐Operating Revenue Total  158,062,000     25,605    117,776     (157,944,224)0.07%        Non‐Operating Expenses       CC0001 Non‐Departmental  5,129,217    ‐  ‐  5,129,217  0.00% CC0524 Metering Services  2,250,000  ‐  ‐  2,250,000 0.00% CC0526 Systems Engineering  271,805,749    1,915,246   28,565,140    243,240,609  10.51% CC0528 Water Distribution  ‐  ‐  ‐  ‐0.00% CC0530 Wastewater Operations  2,803,196   ‐ ‐  2,803,196  0.00% CC0532 Irrigation Operations  308,000    ‐  ‐  308,000  0.00% CC0553 Water Operations  10,589,904    11,643    1,145,453    9,444,451  10.82% Non‐Operating Expense Total  292,886,065  1,926,889    29,710,594     263,175,472 10.14%        Excess (Deficiency) of Total Revenue over Total  Requirements  (99,263,092) (184,626,424) (17,613,975) 81,649,117  17.74%        Ending Fund Balance  58,966,263     140,615,380     81,649,117  238.47%        Reserves       Contingency Reserve  10,723,871     10,723,871    ‐100.00% Non‐Operating Reserve  10,000,000     10,000,000   ‐    100.00% Impact Fee Reserve  3,190,000     3,190,000    ‐100.00% Reserves Total  23,913,871     23,913,871    ‐100.00%        Available Fund Balance  35,052,392    116,701,509     81,649,117  332.93%   19 Quarterly Financial Report   F FY2021 Quarterly Report  OTHER MAJOR FUNDS:   Tourism Fund: While the COVID‐19 pandemic significantly  impacted the tourism sector, the City continues to see  improvement in revenues in the fund.  Overall revenue in the  fund totals $315,882, or 27.23% of budget. Hotel Occupancy  Tax revenue in this fund year‐to‐date totals $287,590 through  the quarter, or 28.76% of budget. Hotel Occupancy continues  to recover from pre COVID‐19 levels.  This quarter Hotel  Occupancy Tax revenue is 146,406, or 203.70% over the same  quarter of the previous fiscal year.  Staff will continue to  market Georgetown and are pleased to see occupancy rates  recovering.            Tourism Fund         Quarterly Comparison: Q1  FY22 Budget FY2021 FY2022 Quarterly Comparison Quarterly Comparison   FY2022 YTD Actuals: Q1  FY21  YTD Actuals: Q1  FY22 Variance % Variance Variance % Variance  Revenues         40008:Other Taxes  1,000,000    141,184    287,590    (712,410) 28.76%  146,406   203.70% 42001:Interest Income  5,000    2,110    665    (4,335) 13.30%  (1,445) 31.53% 45001:Misc Revenue  105,000    4,307    27,627    (77,373) 26.31%  23,320   641.39% 44505:Sponsorship  50,000    ‐  ‐  (50,000) 0.00%  ‐ 0.00% Total Revenues  1,160,000    147,601    315,882     (844,118) 27.23%  168,281   214.01%      TOURISM EXPENSES:  The Operating expense budget for the Tourism Fund totals $1,052,369.  Year‐to‐date operating expenses total $364,551,  or 34.64% of budget.  Expenses are trending higher than anticipated because of the timing of invoices received for  POPPtober Fest.  As part of the mid‐year budget amendment, staff intends to recognize additional appropriation to cover  transactions that crossed fiscal years.       Tourism Fund         Quarterly Comparison: Q1  FY22 Budget FY2021 FY2022 Quarterly Comparison Quarterly Comparison   FY2022 YTD Actuals: Q1  FY21  YTD Actuals: Q1  FY22 Variance % of Budget  Variance % Variance  Expenses         CC0001 Non‐Departmental  52,407    28,634    52,407    ‐100.00% (23,773) 183.02% CC0208 CVB  1,279,883    333,593    389,402    890,481  30.42% (55,810) 116.73% CC0254 Poppy Festival  207,700    ‐  90,429    117,271  43.54% (90,429) 0.00% Total Expenses  1,539,990    362,227    532,239    1,007,752  34.56% (170,012) 146.94%   Overall, Tourism Fund expenditures are within budget and the fund can cover the 90‐day Contingency Reserve. Ending fund  balance is budgeted to be $935,567 in FY2022 with an operating contingency reserve of $337,842, and a capital reserve of  $597,724.    K 100K 200K 300K 400K 500K Q1 HOTEL OCCUPANCY TAX  FY2020  FY2021  FY2022 20 Quarterly Financial Report   F FY2021 Quarterly Report    Fund Schedule:  Tourism  Period: Dec‐21 Budget Current Period  Budget Vs. Actuals   FY2022 Dec‐21 YTD Actuals  w/Encumbrances Variance % of Budget  Beginning Fund Balance  1,315,557    1,315,557    ‐100.00%         Revenue       40008:Other Taxes  1,000,000    129,577   287,590     (712,410) 28.76% 42001:Interest Income  5,000    203   665     (4,335) 13.30% 45001:Misc Revenue  105,000    4,812    27,627     (77,373) 26.31% 44505:Sponsorship  50,000    ‐  ‐   (50,000)0.00% Total Revenue  1,160,000    134,592   315,882    (844,118) 27.23%         Expense       Personnel  435,215    48,852    115,280     319,934  26.49% Operations  1,052,369    46,427    364,551     687,817  34.64% Transfers  52,407    52,407    52,407     ‐100.00% Total Expense  1,539,990    147,687   532,239    1,007,752  34.56%         Excess (Deficiency) of Total Revenue over Total  Requirements  (379,990) (13,094) (216,356)  163,634  56.94%         Ending Fund Balance  935,567    (13,094) 1,099,201     163,634  92.67%         Reserves       Capital Reserve  597,724     597,724     ‐100.00% Contingency Reserve  337,842     337,842     ‐100.00% Reserves Total  935,566     935,566   ‐100.00%         Available Fund Balance  1    163,635     163,634  22415695.89%   21 Quarterly Financial Report Airport Fund: Airport operating revenue budget totals $3,970,122. Airport Charges, the largest segment of revenue totals $1,175,306 year to date. This includes revenue for fuel sales, facility lease, and hangar rentals. Total operating revenues through the quarter are $1,176,035, or 29.62% of budget. Non-operating revenue are bond proceeds for capital projects. The Airport Fund has $500,000 budgeted for funding to complete an airport maintenance facility that began design in FY2021. Bond proceeds will be recognized as part of the City’s annual debt sale in the spring. Total non-operating revenue through the quarter are $3,000. Airport Fund Quarterly Comparison: Q1 FY22 Budget FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY21 YTD Actuals: Q1 FY22 Variance % of Budget Variance % Variance Operating Revenue 40001:Property Taxes 57,000 (57,018) - (57,000) 0.00% 57,018 -100.00% 42001:Interest Income 3,025 1,577 729 (2,296) 24.11% (848) -53.77% 43606:Airport Charges 3,910,097 841,470 1,175,306 (2,734,791) 30.06% 333,835 39.67% Operating Revenue Total 3,970,122 786,030 1,176,035 (2,794,087) 29.62% 390,005 49.62% Non-Operating Revenue 45001:Misc Revenue 1,000 - 3,000 2,000 300.00% 3,000 0.00% 44001:Grant Revenue 108,000 - - (108,000) 0.00% - 0.00% 46001:Bond Proceeds 500,000 - - (500,000) 0.00% - 0.00% Non-Operating Revenue Total 609,000 - 3,000 (606,000) 0.49% 3,000 0.00% Total Revenue 4,579,122 786,030 1,179,035 (3,400,087) 25.75% 393,005 50.00% Operating expenses in the Airport fund include a budget of $4,370,237. Year-to-date operation expenses totals $1,244,708. Year-to-date operating capital is $106,491, or 163.83% over budget. The main driver is an encumbrance for a John Deere 325G Track Loader. This piece of equipment is grant funded through the 2021 Airport CARES grant. Staff is researching this expense and will bring this back as part of the mid-year amendment to recognize grant revenue. The budget for non-operating expenses total $1,434,226. This includes a CIP expense of $1,250,000 for the construction of a maintenance facility at the airport. Staff included additional funding as part of the rollforward budget amendment as the costs of the facility have increased after the design and bid. The remaining amount of non-operating expense is for the airport’s debt service payment. The debt payment will be made in the summer to align with the City’s annual debt schedule. K 200K 400K 600K 800K 1.0M Q1 AIRPORT FUND FUEL SALES FY2020 FY2021 FY2022 22 Quarterly Financial Report Airport Fund Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022 FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY21 YTD Actuals: Q1 FY22 Variance % of Budget Variance % Variance Operating Expense Personnel 502,721 97,868 96,542 406,179 19.20% 1,325 -1.35% Operations 3,802,516 3,613,599 1,041,675 2,760,841 27.39% 2,571,924 -71.17% Operating Capital 65,000 1,006 106,491 (41,491) 163.83% (105,485) 10485.59% Total Operating Expenses 4,370,237 3,712,472 1,244,708 3,125,529 28.48% 2,467,765 -66.47% Non-Operating Expense CIP Expense 1,250,000 - - 1,250,000 0.00% - 0.00% Debt Service 184,226 - - 184,226 0.00% - 0.00% Non-Operating Expense Total 1,434,226 - - 1,434,226 0.00% - 0.00% Expense Total 5,804,463 3,712,472 1,244,708 4,559,755 21.44% (2,467,765) -66.47% 23 Quarterly Financial Report Fund Schedule: Airport Operations Period: Dec-21 Budget Current Period Budget Vs. Actuals FY2022 Dec-21 YTD Actuals w/Encumbrances Variance % of Budget Beginning Fund Balance 2,004,102 2,004,102 - 100.00% Operating Revenues 40001:Property Taxes 57,000 - - (57,000) 0.00% 42001:Interest Income 3,025 205 729 (2,296) 24.11% 43606:Airport Charges 3,910,097 336,824 1,175,306 (2,734,791) 30.06% Total Operating Revenues 3,970,122 337,028 1,176,035 (2,794,087) 29.62% Operating Expenses Personnel 502,721 38,316 96,542 406,179 19.20% Operations 3,802,516 225,568 1,041,675 2,760,841 27.39% Operating Capital 65,000 - 106,491 (41,491) 163.83% Total Operating Expenses 4,370,237 263,884 1,244,708 3,125,529 28.48% Non-Operating Revenues 45001:Misc Revenue 1,000 - 3,000 2,000 300.00% 44001:Grant Revenue 108,000 - - (108,000) 0.00% 46001:Bond Proceeds 500,000 - - (500,000) 0.00% Total Non-Operating Revenues 609,000 - 3,000 (606,000) 0.49% Non-Operating Expenses CIP Expense 1,250,000 - - 1,250,000 0.00% Debt Service 184,226 - - 184,226 0.00% Total Non-Operating Expenses 1,434,226 - - 1,434,226 0.00% Excess (Deficiency) of Total Revenue over Total Requirements (1,225,341) 73,144 (65,673) 1,159,668 5.36% Ending Fund Balance 778,761 73,144 1,938,429 1,159,668 248.91% Reserves AFR Adjustment - - - 0.00% Contingency Reserve 342,905 342,905 - 100.00% Reserves for Debt Service 186,458 186,458 - 100.00% Reserves Total 529,363 529,363 - 100.00% Available Fund Balance 249,398 1,409,066 1,159,668 564.99% 24 Quarterly Financial Report Joint Services Period: Dec‐21  Budget Current Period  FY2022 Dec‐21 YTD Actuals  w/Encumbrances Variance % of Budget Beginning Fund Balance 2,116,563 2,116,563 ‐ 100.00% Revenue 41002:Penalties ‐ 2,653 9,317 9,317 0.00% 42001:Interest Income 6,250 254 831 (5,419)13.29% 43001:Fees 11,600 3,960 7,080 (4,520)61.03% 43004:Administrative Charges 20,801,574 1,797,981 5,393,944 (15,407,630)               25.93% 43005:Rental Revenue ‐ ‐ ‐ ‐ 0.00% 45001:Misc Revenue ‐ 300 300 300 0.00% 45002:Insurance Proceeds ‐ 12,562 57,843 57,843 0.00% 45003:Misc Reimbursements 120,000 4,298 7,988 (112,013) 6.66% 44502:Developer Contributions ‐ ‐ 0 0 0.00% 70001:Transfers In 25,000 25,000 25,000 ‐ 100.00% Revenue Total 20,964,424 1,847,007 5,502,302 (15,462,122)               26.25% Expense CC0001 Non‐Departmental 1,038,500 341,795 590,178 448,322 56.83% CC0254 Poppy Festival ‐ (1,526) ‐ ‐ 0.00% CC0302 Finance Administration 1,248,443 132,127 437,447 810,997 35.04% CC0315 Accounting 1,591,909 101,932 377,719 1,214,191 23.73% CC0316 Municipal Court ‐ ‐ ‐ ‐ 0.00% CC0317 Purchasing 1,073,285 84,515 280,121 793,164 26.10% CC0321 Utility Customer Service 1,073,953 564,727 1,693,561 (619,608) 157.69% CC0322 Utility Customer Billing 1,304,610 ‐ 235,111 1,069,499 18.02% CC0324 Customer Admin & Data Analytics 4,801,286 2,195 ‐ 4,801,286 0.00% CC0503 Organizational and Operational Excellence 380,014 26,403 72,965 307,049 19.20% CC0526 Systems Engineering 2,765,115 301,663 968,729 1,796,386 35.03% CC0534 Conservation ‐ 31,709 98,708 (98,708) 0.00% CC0547 Business System Services ‐ ‐ ‐ ‐ 0.00% CC0637 Economic Development 655,188 50,958 141,481 513,707 21.59% CC0639 Human Resources 1,736,466 135,711 390,054 1,346,412 22.46% CC0640 Citywide Human Resources 1,354,125 47,220 770,179 583,946 56.88% CC0654 Legal 1,367,308 81,991 238,844 1,128,464 17.47% CC0658 Real Estate Services 254,820 ‐ ‐ 254,820 0.00% Expense Total 20,645,022 1,901,420 6,295,097 14,349,926                30.49% Excess (Deficiency) of Total Revenue over Total  Requirements 319,402 (54,413) (792,795) (1,112,197)                 ‐248.21% Ending Fund Balance 2,435,965 1,323,768 (1,112,197)                 54.34% Reserves Contingency Reserve 2,435,966 2,435,966 ‐ 100.00% Reserves Total 2,435,966 2,435,966 ‐ 100.00% Available Fund Balance 0 (1,112,198) (1,112,198)                 ################# Year‐to‐Date Actuals Budget Vs. Actuals 25 Quarterly Financial Report GTEC REVENUE Operating revenue is comprised of sales tax and allocated interest. The budget for sales tax collections for GTEC is $10,645,938. Year-to-date sales tax revenue totals $972,941, or 9.14% of budget. Through this period, sales tax collections are up $161,871, or 19.96% over year-to-date collections from the prior fiscal year. The City continues to see and monitor the strong performance in sales tax. Non-Operating revenue has a budget of $3,700,000 and is made up of bond proceeds. GTEC anticipates project funding for Project Diana and Costco in FY2022. Bond proceeds will be recognized in the spring as part of the City’s annual bond issuance. GTEC Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022 FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY21 YTD Actuals: Q1 FY22 Variance % of Budget Variance % Varaince Operating Revenue 40002:Sales Taxes 10,645,938 811,070 972,941 (9,672,997) 9.14% 161,871 19.96% 42001:Interest Income 24,000 10,194 4,017 (19,983) 16.74% (6,177) -60.60% Operating Revenue Total 10,669,938 821,264 976,958 (9,692,980) 9.16% 155,694 18.96% Non-Operating Revenue 46001:Bond Proceeds 3,700,000 - - (3,700,000) 0.00% - 0.00% Non-Operating Revenue Total 3,700,000 - - (3,700,000) 0.00% - 0.00% Revenue Total 14,369,938 821,264 976,958 (13,392,980) 6.80% 155,694 18.96% Operating expenses year to date total $3,293,965, or 94.66% of budget through the period. Operating expenses are predominately made up of administrative expenses and transfers to other City funds. Administrative expenses include the allocation for City staff to support the GTEC fund. Year-to-date administrative expenses total $61,854, or 25.00% of budget. Through the quarter, GTEC transferred out $3,232,111 for their portion of debt that is paid out of the General Debt Service fund. Non-Operating expense budget totals $23,346,242. Year-to-date non-operating expenses total $951,067, or 4.07% of budget through the period. Non-Operating expenses include funding for strategic partnerships, capital improvement projects, and debt service payment. GTEC’s debt service payment is budgeted at $944,500. The debt service payment will be made in the summer and aligns all other debt service payments for the City. CIP expense budget totals $19,901,742 in the current year. This amount includes the CIP Roll Forward amendment approved by Council in January. K 200K 400K 600K 800K 1.0M 1.2M Q1 Sales Tax Revenue FY2020 FY2021 FY2022 26 Quarterly Financial Report Ending fund balance for FY2022 is budgeted to be $26,443,912. After accounting for the contingency reserve of $2,617,664, and the debt service reserve of $3,918,959, this fund will have an available fund balance of $19,907,289. GTEC Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022 FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY21 YTD Actuals: Q1 FY22 Variance % of Budget Variance % Varaince Operating Expense Operations 247,716 119,231 61,854 185,862 24.97% (57,377) -48.12% Operating Capital - 4,140 - - 0.00% 4,140 -100.00% Transfers 3,232,111 - 3,232,111 - 100.00% 3,232,111 0.00% Operating Expense Total 3,479,827 123,371 3,293,965 185,862 94.66% (3,170,594) 2669.97% Non-Operating Expense Operations 2,500,000 - - 2,500,000 0.00% - 0.00% CIP Expense 19,901,742 422,565 951,067 18,950,674 4.78% (528,502) 125.07% Debt Service 944,500 - - 944,500 0.00% - 0.00% Non-Operating Expense Total 23,346,242 422,565 951,067 22,395,174 4.07% (528,502) 125.07% Expense 26,826,069 545,936 4,245,032 22,581,036 84.18% 3,699,097 677.57% 27 Quarterly Financial Report Fund Schedule: GTEC Period: Dec-21 Budget Current Period Year-to-date Budget Vs. Actuals FY2022 Dec-21 YTD Actuals w/Encumbrances Variance % of Budget Beginning Fund Balance 38,900,043 38,900,043 - 100.00% Operating Revenue 40002:Sales Taxes 10,645,938 943,621 972,941 (9,672,997) 9.14% 42001:Interest Income 24,000 1,408 4,017 (19,983) 16.74% Operating Revenue Total 10,669,938 945,029 976,958 (9,692,980) 9.16% Operating Expense Operations 247,716 20,618 61,854 185,862 24.97% Operating Capital - - - - 0.00% Transfers 3,232,111 3,232,111 3,232,111 - 100.00% Operating Expense Total 3,479,827 3,252,729 3,293,965 185,862 94.66% Net Operations Total 7,190,111 (2,307,700) (2,317,007) (9,878,842) -32.22% Non-Operating Revenue 46001:Bond Proceeds 3,700,000 - - (3,700,000) 0.00% Non-Operating Revenue Total 3,700,000 - - (3,700,000) 0.00% Non-Operating Expense Operations 2,500,000 - - 2,500,000 0.00% CIP Expense 19,901,742 1,425,579 951,067 18,950,674 4.78% Debt Service 944,500 - - 944,500 0.00% Non-Operating Expense Total 23,346,242 1,425,579 951,067 22,395,174 4.07% Excess (Deficiency) of Total Revenue over Total Requirements (12,456,131) (12,229,033) 2,342,898 14,799,028 -18.81% Ending Fund Balance 26,443,912 35,631,969 9,188,056 134.75% Reserves AFR Adjustment - - - 0.00% Contingency Reserve 2,617,664 2,617,664 - 100.00% Debt Service Reserve 3,918,959 3,918,959 - 100.00% Reserves Total 6,536,623 6,536,623 - 100.00% Available Fund Balance 19,907,289 29,095,346 9,188,056 146.15% 28 Quarterly Financial Report GEDCO MONTHLY REPORT AS OF DECEMBER 31, 2021 Operating revenue totals $2,686,484 in FY2022 and is comprised of sales tax and allocated interest. The budget for sales tax collections for GEDCO is $2,661,484. Year-to-date sales tax revenue totals $243,235, or 9.14% of budget. Through this period, sales tax collections are up $40,468, or 19.96% over year-to-date collections from the prior fiscal year. There is a two-month lag in sales tax collections/reporting. As sales tax continues to perform at a high level, staff anticipates amending the sales tax up by 4.5%. This amendment will go to Council and will be recognized in the financial system on March 8, 2022. The City continues to see and monitor the strong performance in sales tax. Non-Operating revenue, which typically includes bond proceeds, is not part of the FY2022 budget. Currently, staff does not anticipate the need to issue debt in this fiscal year. GEDCO Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022 FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY21 YTD Actuals: Q1 FY22 Variance % Variance Variance % Variance Operating Revenue 40002:Sales Taxes 2,661,484 202,767 243,235 (2,418,249) 9.14% 40,468 19.96% 42001:Interest Income 25,000 10,897 1,938 (23,062) 7.75% (8,959) -82.21% Operating Revenue Total 2,686,484 213,664 245,173 (2,441,311) 9.13% 31,509 14.75% Non-Operating Revenue Revenue Total 2,686,484 213,664 245,173 (2,441,311) 9.13% 31,509 14.75% Operating expenses have a total budget of $884,873 for FY2022. Year-to-date operational expenses incurred total $352,777, or 39.87% of budget. Operating expenses include administrative expenses, marketing costs, contractual services, subscriptions, and operating transfers to other City funds. Administrative expenses include the allocation for City staff to support the GEDCO fund. Year-to-date administrative expense total $86,901, or 25.00% of budget. The GEDCO fund has dedicated funding to market the City for potential economic development. 0 100,000 200,000 300,000 51001:Administrative Expense 51003:Marketing & Promotional 51004:Contractual Services 51006:Subscriptions 51010:Legal Services 80001:Transfers Out Operating Expense by Ledger YTD Actuals W /Encumbrances FY2022 Budget K 50K 100K 150K 200K 250K 300K Q1 Sales Tax Revenue FY2020 FY2021 FY2022 29 Quarterly Financial Report Year-to-date marketing efforts total $13,774, or 9.18% of budget. Contractual services include $130,000 budgeted for consulting in FY2022. GEDCO will transfer out $202,769 in FY2022. The transfer out is to the Water fund to repay GEDCO’s portion of loan from the Water fund. Non-Operating expense budget totals $1,168,048. Year-to-date non-operating expenses total $1,000,000, or 85.61% of budget through the period. Non-Operating expenses include funding for strategic partnerships and GEDCO’s debt service payment. GEDCO has a budget of $976,000 for economic development agreements in FY2022. Year-to-date expenses for economic development agreements total $1,000,000 for Titan North Park. Additionally, non-operating expense is where GEDCO’s budgets for the funds debt service payment. The debt service payment includes principal reduction of $74,511, and an interest expense of $17,537. The debt service payment will be reflected in the Q3 report as it aligns with the City’s annual debt payment. GEDCO Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022 FY2022 Year-to-date: Budget Vs. Actuals Quarterly Comparison FY2022 YTD Actuals: Q1 FY21 YTD Actuals: Q1 FY22 Variance % Variance Variance % Variance Operating Expense Operations 682,104 146,368 150,008 532,096 21.99% (3,640) -2.49% Transfers 202,769 - 202,769 - 100.00% 202,769 0.00% Operating Expense Total 884,873 146,368 352,777 532,096 39.87% (206,409) -141.02% Non-Operating Expense Operations 1,076,000 - 1,000,000 76,000 92.94% (1,000,000) 0.00% Debt Service 92,048 - - 92,048 0.00% - 0.00% Operating Expense Total 1,168,048 - 1,000,000 168,048 85.61% 1,000,000 0.00% Expense Total 2,052,921 146,368 1,352,777 700,144 65.90% (1,206,409) 924% Ending fund balance for FY2022 is anticipated to be $1,626,288. After accounting for the contingency reserve of $665,371, and the debt service reserve of $204,019, this fund is budgeted to have an available fund balance of $756,898. 30 Quarterly Financial Report Fund Schedule: GEDCO Period: Dec-21 Budget Current Period FY2022 Year-to-date: Budget Vs. Actuals FY2022 Dec-21 YTD Actuals W/Encumbrances Variance % of Budget Beginning Fund Balance 992,725 992,725 -100.00% Operating Revenue 40002:Sales Taxes 2,661,484 235,905 243,235 (2,418,249) 9.14% 42001:Interest Income 25,000 247 1,938 (23,062) 7.75% Operating Revenue Total 2,686,484 236,152 245,173 (2,441,311) 9.13% Operating Expense Operations 682,104 52,371 150,008 532,096 21.99% Transfers 202,769 202,769 202,769 -100.00% Operating Expense Total 884,873 255,140 352,777 532,096 39.87% Net Operations Total 1,801,611 (18,988) (107,604) 1,909,215 -5.97% Non-Operating Revenue Non-Operating Expense Operations 1,076,000 - 1,000,000 (76,000) 92.94% Debt Service 92,048 - - (92,048) 0.00% Non-Operating Expense Total 1,168,048 -1,000,000 (168,048) 85.61% Excess (Deficiency) of Total Revenue over Total Requirements 633,563 (18,988) (1,107,604) (1,741,167) -174.82% Ending Fund Balance 1,626,288 885,121 (741,167) 54.43% Reserves AFR Adjustment - - - - 0.00% Contingency Reserve 665,371 - 665,371 -100.00% Debt Service Reserve 204,019 - 204,019 -100.00% Reserves Total 869,390 -869,390 -100.00% Available Fund Balance 756,898 -15,731 (741,167) 2.08% 31 Quarterly Financial Report Council Discretionary Period: Dec‐21  Budget Current Period FY2022 Dec‐21 YTD Actuals Variance % of Budget Beginning Fund Balance 2,317,139 2,317,139 ‐  100.00% Revenue 42001:Interest Income 150 0 0 (150) 0.05% Total Revenue 150  0 0 (150) 0.05% Expense Transfers ‐  ‐  ‐  ‐ 0.00% Total Expense ‐ ‐ ‐ ‐  0.00% Excess (Deficiency) of Total Revenue over Total  Requirements 150  0 0 (150) 0.05% Ending Fund Balance 2,317,289 0 2,317,139 (150) 99.99% Reserves AFR Adjustment ‐  ‐  ‐ ‐  Contingency Reserve ‐  ‐  ‐ ‐  Debt Service Reserve ‐  ‐  ‐ ‐  Reserves Total ‐ ‐ ‐ ‐  Available Fund Balance 2,317,289 2,317,139 (150) 1  Year‐to‐Date Actuals Budget Vs. Actuals During the reading of the FY2021 Year‐end Budget Amendment, Council approved reducing the $4,700,145 transfer from the General Fund to the Council SRF to  $2,317,139.  Council used $2,383,006 to increase the Economic Stability Reserve in the General Fund to fully fund this reserve at 6% of operating expenses. 32 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 first quarter of fiscal year 2022 includes the maturing, reinvesting, and new  investments of financial institution deposits (CDs).  Interest rates continue to be low for money  market accounts, Treasury bills, and CD’s.  We are seeing a decline in the number of banks  responding to our investment offerings.     The FOMC met on December 14th and 15th. Upon adjournment they announced that the Fed  Funds rate would remain unchanged at a range of 0% to .25%, but lowered the monthly  purchases of Treasury/Agency positions to wean the markets from some of the stimuli that they  have inserted at the beginning of the pandemic. According to FOMC chair Powell, they should  completely end these purchases in March and raising the Fed Fund Rate could occur shortly after  that.  The City will continue soliciting for the best rates to improve both diversity and yield, while  keeping in mind safety and liquidity.   The Investment Reports are for the quarter ending December 31, 2021.  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 as of December 31, 2021, 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 of  the City’s portfolio is consolidated at 71%, debt service at 1%, and bond proceeds/grants at 28%.              CITY              Book Value  GTEC  GEDCO   9/30/21 12/31/21  9/30/21 12/31/21  9/30/21 12/31/21    Total cash and  investments    $377,319,060 $413,507,197  $37,764,985 $41,274,830  $9,649,850 $10,624,975    Quarter End  Average Yield  .13%  .13%  .03% .04%  .08% .08%  33   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 generally includes bank deposits, local government investment pool  balances, money market accounts, and financial institution deposits (CD’s).  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.    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.   III. CAPITAL IMPROVEMENT PROJECTS    A financial summary of capital improvement projects is attached to this report. With new capability in the  recent financial software implementation, we are providing a Life‐to‐Date picture of all active projects  since many capital projects take multiple fiscal years to construct to completion. With our growing capital  infrastructure implementation portfolio due demand for transportation and water services, City staff  have formed two working groups with the goal of improving work capacity and efficiencies, and  ultimately customer service, related to capital projects. One group is focused on incrementally improving  capital project reporting internally and externally citywide – including financial information as well as  scheduling, geographic location, and other information. The second group is focused on the re‐ organization of development‐related capital improvements from the Systems Engineering department to  the Planning Department. Both groups will continue working through the first quarter of FY2022.  34 CITY QUARTERLY INVESTMENT REPORT For the Quarter Ended December 31, 2021 Prepared by Valley View Consulting, L.L.C. ________________________________________________________________________ Leigh Wallace Nathan Parras Finance Director Assistant Finance Director ________________________________________________________________________ Karrie Pursley Elaine Wilson Treasurer Assistant Finance Director The investment portfolio of the City of Georgetown is in compliance with the Public Funds Investment Act and the Investment Policy and Strategies. 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. 35 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield Demand Accounts 22,970,725$ 22,970,725 21,185,795$ 21,185,795$ 0.23% NOW/MMA 23,043,557 23,043,557 23,057,882 23,057,882 0.25% Pools 194,658,236 194,658,236 205,062,610 205,062,610 0.03% CDs/Securities 136,646,542 136,646,542 164,200,910 164,200,910 0.24%Totals 377,319,060$ 377,319,060$ 413,507,197$ 413,507,197$ 0.13% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.13%Total Portfolio 0.13% Rolling Three Month Treasury 0.06%Rolling Three Month Treasury 0.06% Rolling Six Month Treasury 0.08%Rolling Six Month Treasury 0.08% TexPool 0.04%TexPool 0.04% Bank Fees Offset 12,088$ Interest earnings provided in separate report.12,088$ September 30, 2021 (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 December 31, 2021 City of Georgetown Valley View Consulting, L.L.C.36 Economic Overview12/31/2021 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading <0.10%). The FOMC began reducing monthly security purchases during Nov 2021 and then increased the paced at the December meeting. Projections for target range increases shortened to late spring or early summer 2022. Third Quarter GDP posted +2.3% (Final). December employment reflected U-2 dropping to 3.9% and Non-Farm Payroll adding 199k net new jobs (Three Month Average NFP = 365). Crude oil reversed recent declines and bounced back to +/-$75 per barrel. The Stock Markets reached new highs. Many domestic economic indicators remain positive. The Build Back Better legislation stalled in the Senate. The Debt Ceiling was increased to $31+ trillion, easing any near-term funding pressures. Inflation remained well over the FOMC 2% target and does not appear positioned to decline in the near term. The Yield Curve shifted higher primarily six months and longer.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,7504,0004,2504,5004,7505,0005,250S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.200.400.600.801.001.201.401.60Treasury Yield CurvesDecember 31, 2020September 30, 2021December 31, 20210.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.37 City - Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield JPMorgan Chase Cash (3)0.23%01/01/22 12/31/21 21,185,795$ 21,185,795$ 1.00 21,185,795$ 1 0.23% JPMorgan Chase MMA 0.03%01/01/22 12/31/21 434,146 434,146 1.00 434,146 1 0.03% Veritex Community Bank MMA 0.10%01/01/22 12/31/21 3,215,361 3,215,361 1.00 3,215,361 1 0.10% NexBank MMA 0.40%01/01/22 12/31/21 7,395,351 7,395,351 1.00 7,395,351 1 0.40% Texas Capital Bank MMA 0.20%01/01/22 12/31/21 12,013,024 12,013,024 1.00 12,013,024 1 0.20% TexPool AAAm 0.04%01/01/22 12/31/21 95,641,577 95,641,577 1.00 95,641,577 1 0.04% TexSTAR AAAm 0.01%01/01/22 12/31/21 109,421,033 109,421,033 1.00 109,421,033 1 0.01% East West Bank CD 0.21%01/07/22 01/08/21 5,010,309 5,010,309 100.00 5,010,309 7 0.21% Prosperity Bank CD 0.30%01/21/22 10/21/20 4,014,022 4,014,022 100.00 4,014,022 21 0.30% East West Bank CD 0.10%2/1/2022 05/10/21 2,001,294 2,001,294 100.00 2,001,294 32 0.10% Independent Bank CD 0.40%02/05/22 02/05/21 3,008,963 3,008,963 100.00 3,008,963 36 0.40% Independent Bank CD 0.40%02/08/22 02/08/21 5,014,919 5,014,919 100.00 5,014,919 39 0.40% Prosperity Bank CD 0.15%02/10/22 08/10/21 3,003,738 3,003,738 100.00 3,003,738 41 0.15% R Bank CD 0.63%02/25/22 02/25/21 2,009,446 2,009,446 100.00 2,009,446 56 0.63% Prosperity Bank CD 0.15%03/21/22 09/21/21 5,001,870 5,001,870 100.00 5,001,870 80 0.15% Prosperity Bank CD 0.35%04/21/22 10/21/20 2,510,227 2,510,227 100.00 2,510,227 111 0.35% Independent Bank CD 0.30%04/22/22 04/22/21 4,218,187 4,218,187 100.00 4,218,187 112 0.30% Independent Bank CD 0.35%05/09/22 02/08/21 4,010,480 4,010,480 100.00 4,010,480 129 0.35% Prosperity Bank CD 0.35%05/17/22 11/17/20 2,007,586 2,007,586 100.00 2,007,586 137 0.35% Prosperity Bank CD 0.20%06/13/22 06/11/21 5,005,016 5,005,016 100.00 5,005,016 164 0.20% East West Bank CD 0.18%06/20/22 12/20/21 2,500,148 2,500,148 100.00 2,500,148 171 0.18% East West Bank CD 0.18%06/20/22 12/20/21 3,000,178 3,000,178 100.00 3,000,178 171 0.18% East West Bank CD 0.18%06/20/22 12/20/21 2,500,148 2,500,148 100.00 2,500,148 171 0.18% Prosperity Bank CD 0.20%07/01/22 07/01/21 4,027,396 4,027,396 100.00 4,027,396 182 0.20% Prosperity Bank CD 0.20%07/25/22 04/23/21 5,006,689 5,006,689 100.00 5,006,689 206 0.20% Prosperity Bank CD 0.20%08/01/22 05/25/21 5,005,866 5,005,866 100.00 5,005,866 213 0.20% East West Bank CD 0.17%08/15/22 11/15/21 4,000,876 4,000,876 100.00 4,000,876 227 0.17% Prosperity Bank CD 0.35%08/22/22 11/20/20 2,509,483 2,509,483 100.00 2,509,483 234 0.35% Prosperity Bank CD 0.20%09/12/22 06/11/21 5,005,016 5,005,016 100.00 5,005,016 255 0.20% East West Bank CD 0.26%09/20/22 12/20/21 2,000,171 2,000,171 100.00 2,000,171 263 0.26% Independent Bank CD 0.30%10/18/22 10/18/21 2,556,793 2,556,793 100.00 2,556,793 291 0.30% Prosperity Bank CD 0.20%10/24/22 04/23/21 5,006,689 5,006,689 100.00 5,006,689 297 0.20% East West Bank CD 0.21%11/15/22 11/15/21 10,002,704 10,002,704 100.00 10,002,704 319 0.21% Prosperity Bank CD 0.40%11/17/22 11/17/20 2,008,672 2,008,672 100.00 2,008,672 321 0.40% Prosperity Bank CD 0.15%11/23/22 08/23/21 2,001,003 2,001,003 100.00 2,001,003 327 0.15% Prosperity Bank CD 0.15%12/21/22 09/21/21 5,001,870 5,001,870 100.00 5,001,870 355 0.15% December 31, 2021 City of Georgetown Valley View Consulting, L.L.C.38 City - Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield December 31, 2021 R Bank CD 0.60%12/31/22 06/30/21 1,003,029 1,003,029 100.00 1,003,029 365 0.60% Bank OZK CD 0.18%02/23/23 08/23/21 4,202,542 4,202,542 100.00 4,202,542 419 0.18% Veritex Community Bank CD 0.18%03/09/23 09/09/21 4,001,795 4,001,795 100.00 4,001,795 433 0.18% Prosperity Bank CD 0.20%04/24/23 04/23/21 5,006,689 5,006,689 100.00 5,006,689 479 0.20% Prosperity Bank CD 0.20%05/01/23 05/25/21 5,005,866 5,005,866 100.00 5,005,866 486 0.20% Bank OZK CD 0.20%06/12/23 06/11/21 5,016,310 5,016,310 100.00 5,016,310 528 0.20% R Bank CD 0.73%06/30/23 06/30/21 1,003,667 1,003,667 100.00 1,003,667 546 0.73% Bank OZK CD 0.21%08/14/23 11/12/21 5,000,867 5,000,867 100.00 5,000,867 591 0.21% Veritex Community Bank CD 0.25%09/25/23 09/24/21 10,006,234 10,006,234 100.00 10,006,234 633 0.25% Bank OZK CD 0.20%10/09/23 10/08/21 5,001,680 5,001,680 100.00 5,001,680 647 0.20% Bank OZK CD 0.30%11/13/23 11/12/21 10,002,474 10,002,474 100.00 10,002,474 682 0.30% TOTALS 413,507,197$ 413,507,197$ 413,507,197$ 123 0.13% (1)(2) (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. City of Georgetown Valley View Consulting, L.L.C.39 0–6 Months80%6–12 Months14% 12–18 Months6% 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 $300,000,000 $325,000,000 $350,000,000 $375,000,000 $400,000,000 $425,000,000 $450,000,000 03/31/21 06/30/21 09/30/21 12/31/21 Portfolio Balances Money Market Local Depository TexSTAR TexPool Certificate of Deposit 166174166 102 69 90 7375 109104 123 156163 97108 87 51 67 4941 91 73 6154 99 71 124 95100 8070676358 818274 104113123 0 50 100 150 200 # of DaysWeighted Average to Maturity JPMorgan Chase5% Texas Capital Bank3% Prosperity Bank16% Veritex Bank 4% Bank OZK7% NexBank2%TexPool23% TexSTAR26% IndependentBank5% East West Bank8% R Bank1% Portfolio Holdings by Issuer City of Georgetown Valley View Consulting, L.L.C. 40 City - Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 09/30/21 Increases Decreases Book Value 12/31/21 Market Value 09/30/21 Change in Market Value Market Value 12/31/21 JPMorgan Chase Cash 0.23%01/01/22 22,970,725$ –$ (1,784,930)$ 21,185,795$ 22,970,725$ (1,784,930)$ 21,185,795$ JPMorgan Chase MMA 0.03%01/01/22 434,113 33 – 434,146 434,113 33 434,146 Veritex Community Bank M 0.10%01/01/22 3,214,573 788 – 3,215,361 3,214,573 788 3,215,361 NexBank MMA 0.40%01/01/22 7,387,900 7,451 – 7,395,351 7,387,900 7,451 7,395,351 Texas Capital Bank MMA 0.20%01/01/22 12,006,970 6,053 – 12,013,024 12,006,970 6,053 12,013,024 TexPool 0.04%01/01/22 66,870,729 28,770,848 – 95,641,577 66,870,729 28,770,848 95,641,577 TexSTAR 0.01%01/01/22 127,787,508 – (18,366,475) 109,421,033 127,787,508 (18,366,475) 109,421,033 East West Bank CD 0.21%10/08/21 5,007,658 – (5,007,658) – 5,007,658 (5,007,658) – Prosperity Bank CD 0.30%10/14/21 2,506,888 – (2,506,888) – 2,506,888 (2,506,888) – Independent Bank CD 0.40%10/18/21 2,554,218 – (2,554,218) – 2,554,218 (2,554,218) – Prosperity Bank CD 0.30%11/22/21 3,007,501 – (3,007,501) – 3,007,501 (3,007,501) – Texas Regional Bank CD 0.25%12/07/21 3,003,782 – (3,003,782) – 3,003,782 (3,003,782) – East West Bank CD 0.21%12/30/21 3,004,750 – (3,004,750) – 3,004,750 (3,004,750) – East West Bank CD 0.21%01/07/22 5,007,658 2,651 – 5,010,309 5,007,658 2,651 5,010,309 Prosperity Bank CD 0.30%01/21/22 4,011,021 3,001 – 4,014,022 4,011,021 3,001 4,014,022 East West Bank CD 0.10%2/1/2022 2,000,789 504 – 2,001,294 2,000,789 504 2,001,294 Independent Bank CD 0.40%02/05/22 3,005,933 3,031 – 3,008,963 3,005,933 3,031 3,008,963 Independent Bank CD 0.40%02/08/22 5,009,868 5,051 – 5,014,919 5,009,868 5,051 5,014,919 Prosperity Bank CD 0.15%02/10/22 3,002,615 1,123 – 3,003,738 3,002,615 1,123 3,003,738 R Bank CD 0.63%02/25/22 2,006,258 3,188 – 2,009,446 2,006,258 3,188 2,009,446 Prosperity Bank CD 0.15%03/21/22 5,000,000 1,870 – 5,001,870 5,000,000 1,870 5,001,870 Prosperity Bank CD 0.35%04/21/22 2,508,038 2,189 – 2,510,227 2,508,038 2,189 2,510,227 Independent Bank CD 0.30%04/22/22 4,215,000 3,187 – 4,218,187 4,215,000 3,187 4,218,187 Independent Bank CD 0.35%05/09/22 4,006,945 3,535 – 4,010,480 4,006,945 3,535 4,010,480 Prosperity Bank CD 0.35%05/17/22 2,005,835 1,751 – 2,007,586 2,005,835 1,751 2,007,586 Prosperity Bank CD 0.20%06/13/22 5,002,521 2,495 – 5,005,016 5,002,521 2,495 5,005,016 East West Bank CD 0.18%06/20/22 – 2,500,148 – 2,500,148 – 2,500,148 2,500,148 East West Bank CD 0.18%06/20/22 – 3,000,178 – 3,000,178 – 3,000,178 3,000,178 East West Bank CD 0.18%06/20/22 – 2,500,148 – 2,500,148 – 2,500,148 2,500,148 Prosperity Bank CD 0.20%07/01/22 4,025,388 2,008 – 4,027,396 4,025,388 2,008 4,027,396 Prosperity Bank CD 0.20%07/25/22 5,004,193 2,496 – 5,006,689 5,004,193 2,496 5,006,689 Prosperity Bank CD 0.20%08/01/22 5,003,371 2,495 – 5,005,866 5,003,371 2,495 5,005,866 East West Bank CD 0.17%08/15/22 – 4,000,876 – 4,000,876 – 4,000,876 4,000,876 Prosperity Bank CD 0.35%08/22/22 2,507,294 2,189 – 2,509,483 2,507,294 2,189 2,509,483 Prosperity Bank CD 0.20%09/12/22 5,002,521 2,495 – 5,005,016 5,002,521 2,495 5,005,016 East West Bank CD 0.26%09/20/22 – 2,000,171 – 2,000,171 – 2,000,171 2,000,171 Independent Bank CD 0.30%10/18/22 – 2,556,793 – 2,556,793 – 2,556,793 2,556,793 Prosperity Bank CD 0.20%10/24/22 5,004,193 2,496 – 5,006,689 5,004,193 2,496 5,006,689 East West Bank CD 0.21%11/15/22 – 10,002,704 – 10,002,704 – 10,002,704 10,002,704 City of Georgetown Valley View Consulting, L.L.C.41 City - Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 09/30/21 Increases Decreases Book Value 12/31/21 Market Value 09/30/21 Change in Market Value Market Value 12/31/21 Prosperity Bank CD 0.40%11/17/22 2,006,670 2,002 – 2,008,672 2,006,670 2,002 2,008,672 Prosperity Bank CD 0.15%11/23/22 2,000,255 748 – 2,001,003 2,000,255 748 2,001,003 Prosperity Bank CD 0.15%12/21/22 5,000,000 1,870 – 5,001,870 5,000,000 1,870 5,001,870 R Bank CD 0.60%12/31/22 1,001,530 1,499 – 1,003,029 1,001,530 1,499 1,003,029 Bank OZK CD 0.18%02/23/23 4,200,646 1,896 – 4,202,542 4,200,646 1,896 4,202,542 Veritex Community Bank C 0.18%03/09/23 4,000,000 1,795 – 4,001,795 4,000,000 1,795 4,001,795 Prosperity Bank CD 0.20%04/24/23 5,004,193 2,496 – 5,006,689 5,004,193 2,496 5,006,689 Prosperity Bank CD 0.20%05/01/23 5,003,371 2,495 – 5,005,866 5,003,371 2,495 5,005,866 Bank OZK CD 0.20%06/12/23 5,013,797 2,513 – 5,016,310 5,013,797 2,513 5,016,310 R Bank CD 0.73%06/30/23 1,001,842 1,825 – 1,003,667 1,001,842 1,825 1,003,667 Bank OZK CD 0.21%08/14/23 – 5,000,867 – 5,000,867 – 5,000,867 5,000,867 Veritex Community Bank C 0.25%09/25/23 10,000,000 6,234 – 10,006,234 10,000,000 6,234 10,006,234 Bank OZK CD 0.20%10/09/23 – 5,001,680 – 5,001,680 – 5,001,680 5,001,680 Bank OZK CD 0.30%11/13/23 – 10,002,474 – 10,002,474 – 10,002,474 10,002,474 TOTAL / AVERAGE 0.13%377,319,060$ 75,424,339$ (39,236,202)$ 413,507,197$ 377,319,060$ 36,188,137$ 413,507,197$ City of Georgetown Valley View Consulting, L.L.C.42 City - Allocation Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 GO- Roads 2015 Revenue Water WW 2016 GO- Roads 2016 Revenue Water/WW JPMorgan Chase Cash 21,185,795$ 21,185,795$ –$ –$ –$ –$ –$ –$ –$ –$ JPMorgan Chase MMA 434,146 434,146 – – – – – – – – Veritex Community Bank MMA 3,215,361 3,215,361 – – – – – – – – NexBank MMA 7,395,351 7,395,351 – – – – – – – – Texas Capital Bank MMA 12,013,024 12,013,024 – – – – – – – – TexPool 95,641,577 95,641,577 – – – – – – – – TexSTAR 109,421,033 26,975,128 491,317 4,759,615 137,318 19,523 2,043,651 1,531,963 1,416,191 204,500 East West Bank CD 01/07/22 5,010,309 5,010,309 – – – – – – – – Prosperity Bank CD 01/21/22 4,014,022 4,014,022 – – – – – – – – East West Bank CD 2/1/2022 2,001,294 – – – – – – – – – Independent Bank CD 02/05/22 3,008,963 3,008,963 – – – – – – – – Independent Bank CD 02/08/22 5,014,919 4,011,935 – – – – – – – – Prosperity Bank CD 02/10/22 3,003,738 – – – – – – – – – R Bank CD 02/25/22 2,009,446 – – – – – – – – – Prosperity Bank CD 03/21/22 5,001,870 5,001,870 – – – – – – – – Prosperity Bank CD 04/21/22 2,510,227 2,510,227 – – – – – – – – Independent Bank CD 04/22/22 4,218,187 4,218,187 – – – – – – – – Independent Bank CD 05/09/22 4,010,480 4,010,480 – – – – – – – – Prosperity Bank CD 05/17/22 2,007,586 2,007,586 – – – – – – – – Prosperity Bank CD 06/13/22 5,005,016 5,005,016 – – – – – – – – East West Bank CD 06/20/22 2,500,148 – – – – – – – – – East West Bank CD 06/20/22 3,000,178 – – – – – – – – – East West Bank CD 06/20/22 2,500,148 – – – – – – – – – Prosperity Bank CD 07/01/22 4,027,396 4,027,396 – – – – – – – – Prosperity Bank CD 07/25/22 5,006,689 5,006,689 – – – – – – – – Prosperity Bank CD 08/01/22 5,005,866 5,005,866 – – – – – – – – East West Bank CD 08/15/22 4,000,876 – – – – – – – – – Prosperity Bank CD 08/22/22 2,509,483 2,509,483 – – – – – – – – Prosperity Bank CD 09/12/22 5,005,016 5,005,016 – – – – – – – – East West Bank CD 09/20/22 2,000,171 – – – – – – – – – Independent Bank CD 10/18/22 2,556,793 2,556,793 – – – – – – – – Prosperity Bank CD 10/24/22 5,006,689 5,006,689 – – – – – – – – East West Bank CD 11/15/22 10,002,704 – – – – – – – – – Prosperity Bank CD 11/17/22 2,008,672 2,008,672 – – – – – – – – Prosperity Bank CD 11/23/22 2,001,003 2,001,003 – – – – – – – – Prosperity Bank CD 12/21/22 5,001,870 5,001,870 – – – – – – – – R Bank CD 12/31/22 1,003,029 1,003,029 – – – – – – – – Bank OZK CD 02/23/23 4,202,542 4,202,542 – – – – – – – – Veritex Community Bank CD 03/09/23 4,001,795 4,001,795 – – – – – – – – Prosperity Bank CD 04/24/23 5,006,689 5,006,689 – – – – – – – – Prosperity Bank CD 05/01/23 5,005,866 5,005,866 – – – – – – – – Bank OZK CD 06/12/23 5,016,310 5,016,310 – – – – – – – – R Bank CD 06/30/23 1,003,667 1,003,667 – – – – – – – – Bank OZK CD 08/14/23 5,000,867 5,000,867 – – – – – – – – Veritex Community Bank CD 09/25/23 10,006,234 10,006,234 – – – – – – – – Bank OZK CD 10/09/23 5,001,680 5,001,680 – – – – – – – – Bank OZK CD 11/13/23 10,002,474 10,002,474 – – – – – – – – Totals 413,507,197$ 299,039,607$ 491,317$ 4,759,615$ 137,318$ 19,523$ 2,043,651$ 1,531,963$ 1,416,191$ 204,500$ Book & Market Value December 31, 2021 City of Georgetown Valley View Consulting, L.L.C.43 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Community Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 2/1/2022 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 Prosperity Bank CD 02/10/22 R Bank CD 02/25/22 Prosperity Bank CD 03/21/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 East West Bank CD 06/20/22 East West Bank CD 06/20/22 East West Bank CD 06/20/22 Prosperity Bank CD 07/01/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 East West Bank CD 08/15/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 East West Bank CD 09/20/22 Independent Bank CD 10/18/22 Prosperity Bank CD 10/24/22 East West Bank CD 11/15/22 Prosperity Bank CD 11/17/22 Prosperity Bank CD 11/23/22 Prosperity Bank CD 12/21/22 R Bank CD 12/31/22 Bank OZK CD 02/23/23 Veritex Community Bank CD 03/09/23 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Bank OZK CD 08/14/23 Veritex Community Bank CD 09/25/23 Bank OZK CD 10/09/23 Bank OZK CD 11/13/23 Totals Book & Market Value December 31, 2021 (Continued) Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 Revenue Electric 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads 2019 CO- Streets/ Facilities/ Equip 2019 GO- Roads –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 246,585 4,344 97,392 7,767,004 56,705 576,862 343,147 1,914,917 3,982,049 754,612 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,002,984 – – – – – – – – – 3,003,738 – – – – – – – – – – – – – – – 2,009,446 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,500,148 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 246,585$ 4,344$ 97,392$ 11,773,726$ 56,705$ 576,862$ 343,147$ 1,914,917$ 6,482,197$ 2,764,059$ City of Georgetown Valley View Consulting, L.L.C.44 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Community Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 2/1/2022 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 Prosperity Bank CD 02/10/22 R Bank CD 02/25/22 Prosperity Bank CD 03/21/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 East West Bank CD 06/20/22 East West Bank CD 06/20/22 East West Bank CD 06/20/22 Prosperity Bank CD 07/01/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 East West Bank CD 08/15/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 East West Bank CD 09/20/22 Independent Bank CD 10/18/22 Prosperity Bank CD 10/24/22 East West Bank CD 11/15/22 Prosperity Bank CD 11/17/22 Prosperity Bank CD 11/23/22 Prosperity Bank CD 12/21/22 R Bank CD 12/31/22 Bank OZK CD 02/23/23 Veritex Community Bank CD 03/09/23 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Bank OZK CD 08/14/23 Veritex Community Bank CD 09/25/23 Bank OZK CD 10/09/23 Bank OZK CD 11/13/23 Totals Book & Market Value December 31, 2021 (Continued) 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Water/WW Electric-LCRA Transformers City - 2021 CO Airport City - 2021 CO Fac/Equip/Par ks City - 2021 GO Parks City - 2021 GO Roads City - 2021A CO Electric City - 2021A CO Water/WW –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,154,776 390,295 5,391,534 673,034 4,156,584 700,045 5,371,681 1,000,064 5,721,126 2,873,965 10,789,818 – – – – – – – – – – – – – – – – – – – – – – – – 2,001,294 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,000,178 – – – – – – – – – – – – – – 2,500,148 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 4,000,876 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,154,776$ 390,295$ 7,392,828$ 673,034$ 4,156,584$ 700,045$ 12,372,735$ 1,000,064$ 5,721,126$ 2,873,965$ 13,289,966$ City of Georgetown Valley View Consulting, L.L.C.45 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Community Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 2/1/2022 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 Prosperity Bank CD 02/10/22 R Bank CD 02/25/22 Prosperity Bank CD 03/21/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 East West Bank CD 06/20/22 East West Bank CD 06/20/22 East West Bank CD 06/20/22 Prosperity Bank CD 07/01/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 East West Bank CD 08/15/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 East West Bank CD 09/20/22 Independent Bank CD 10/18/22 Prosperity Bank CD 10/24/22 East West Bank CD 11/15/22 Prosperity Bank CD 11/17/22 Prosperity Bank CD 11/23/22 Prosperity Bank CD 12/21/22 R Bank CD 12/31/22 Bank OZK CD 02/23/23 Veritex Community Bank CD 03/09/23 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Bank OZK CD 08/14/23 Veritex Community Bank CD 09/25/23 Bank OZK CD 10/09/23 Bank OZK CD 11/13/23 Totals Book & Market Value December 31, 2021 (Continued) City - 2021A GO Roads City - American Rescue Plan –$ –$ – – – – – – – – – – 13,948,075 3,927,211 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,171 – – – – – 10,002,704 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 25,950,950$ 3,927,211$ City of Georgetown Valley View Consulting, L.L.C.46 City - Allocation(Continued)Investment TotalConsolidated2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ Vehicles2015 CO-Stormwater 2015 GO-Roads2015 Revenue Water WW2016 GO- Roads2016 Revenue Water/WWJPMorgan Chase Cash22,970,725$ 22,970,725$ –$ –$ –$ –$ –$ –$ –$ –$ JPMorgan Chase MMA434,113 434,113 – – – – – – – – Veritex Community Bank MMA3,214,573 3,214,573 – – – – – – – – NexBank MMA7,387,900 7,387,900 – – – – – – – – Texas Capital Bank MMA12,006,970 12,006,970 – – – – – – – – TexPool66,870,729 66,870,729 – – – – – – – – TexSTAR127,787,508 20,259,237 493,387 2,003,757 137,314 19,522 2,055,756 1,531,919 1,416,150 270,991 East West Bank CD10/08/215,007,658 5,007,658 – – – – – – – – Prosperity Bank CD10/14/212,506,888 2,506,888 – – – – – – – – Independent Bank CD 10/18/212,554,218 2,554,218 – – – – – – – – Prosperity Bank CD11/22/213,007,501 3,007,501 – – – – – – – – Texas Regional Bank CD 12/07/213,003,782 – – – – – – – – – East West Bank CD12/30/213,004,750 3,004,750 – – – – – – – – East West Bank CD01/07/225,007,658 5,007,658 – – – – – – – – Prosperity Bank CD01/21/224,011,021 4,011,021 – – – – – – – – East West Bank CD02/01/222,000,789 – – – – – – – – – Independent Bank CD 02/05/223,005,933 3,005,933 – – – – – – – – Independent Bank CD 02/08/225,009,868 4,007,894 – – – – – – – – Prosperity Bank CD02/10/223,002,615 – – – – – – – – – R Bank CD02/25/222,006,258 – – – – – – – – – Prosperity Bank CD03/21/225,000,000 5,000,000 – – – – – – – – Prosperity Bank CD04/21/222,508,038 2,508,038 – – – – – – – – Independent Bank CD 04/22/224,215,000 4,215,000 – – – – – – – – Independent Bank CD 05/09/224,006,945 4,006,945 – – – – – – – – Prosperity Bank CD05/17/222,005,835 2,005,835 – – – – – – – – Prosperity Bank CD06/13/225,002,521 5,002,521 – – – – – – – – Prosperity Bank CD07/01/224,025,388 4,025,388 – – – – – – – – Prosperity Bank CD07/25/225,004,193 5,004,193 – – – – – – – – Prosperity Bank CD08/01/225,003,371 5,003,371 – – – – – – – – Prosperity Bank CD08/22/222,507,294 2,507,294 – – – – – – – – Prosperity Bank CD09/12/225,002,521 5,002,521 – – – – – – – – Prosperity Bank CD10/24/225,004,193 5,004,193 – – – – – – – – Prosperity Bank CD11/17/222,006,670 2,006,670 – – – – – – – – Prosperity Bank CD11/23/222,000,255 2,000,255 – – – – – – – – Prosperity Bank CD12/21/225,000,000 5,000,000 – – – – – – – – R Bank CD12/31/221,001,530 1,001,530 – – – – – – – – Bank OZK CD02/23/234,200,646 4,200,646 – – – – – – – – Veritex Community Bank CD 03/09/234,000,000 4,000,000 – – – – – – – – Prosperity Bank CD04/24/235,004,193 5,004,193 – – – – – – – – Prosperity Bank CD05/01/235,003,371 5,003,371 – – – – – – – – Bank OZK CD06/12/235,013,797 5,013,797 – – – – – – – – R Bank CD06/30/231,001,842 1,001,842 – – – – – – – – Veritex Community Bank CD 09/25/2310,000,000 10,000,000 Totals377,319,060$ 258,775,372$ 493,387$ 2,003,757$ 137,314$ 19,522$ 2,055,756$ 1,531,919$ 1,416,150$ 270,991$ September 30, 2021Book & Market ValueCity of GeorgetownValley View Consulting, L.L.C.47 City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Community Bank MMANexBank MMATexas Capital Bank MMATexPoolTexSTAREast West Bank CD 10/08/21Prosperity Bank CD 10/14/21Independent Bank CD 10/18/21Prosperity Bank CD 11/22/21Texas Regional Bank CD 12/07/21East West Bank CD 12/30/21East West Bank CD 01/07/22Prosperity Bank CD 01/21/22East West Bank CD 02/01/22Independent Bank CD 02/05/22Independent Bank CD 02/08/22Prosperity Bank CD 02/10/22R Bank CD 02/25/22Prosperity Bank CD 03/21/22Prosperity Bank CD 04/21/22Independent Bank CD 04/22/22Independent Bank CD 05/09/22Prosperity Bank CD 05/17/22Prosperity Bank CD 06/13/22Prosperity Bank CD 07/01/22Prosperity Bank CD 07/25/22Prosperity Bank CD 08/01/22Prosperity Bank CD 08/22/22Prosperity Bank CD 09/12/22Prosperity Bank CD 10/24/22Prosperity Bank CD 11/17/22Prosperity Bank CD 11/23/22Prosperity Bank CD 12/21/22R Bank CD 12/31/22Bank OZK CD 02/23/23Veritex Community Bank CD 03/09/23Prosperity Bank CD 04/24/23Prosperity Bank CD 05/01/23Bank OZK CD 06/12/23R Bank CD 06/30/23Veritex Community Bank CD 09/25/23TotalsSeptember 30, 2021Book & Market Value(Continued)Garey Park Donation2017 CO Facilities/ Public Safety/ Equipment2017 Revenue Electric2017 Revenue Water WW2018 CO-Airport2018 CO- Streets/ Facilities/ Equip2018 GO- Parks2018 GO- Roads2019 CO- Streets/ Facilities/ Equip2019 GO-Roads–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 246,578 53,200 97,389 4,761,278 56,703 576,846 349,300 1,926,217 6,518,325 822,100 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,003,782 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,001,974 – – – – – – – – – 3,002,615 – – – – – – – – – – – – – – – 2,006,258 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 246,578$ 53,200$ 97,389$ 11,769,648$ 56,703$ 576,846$ 349,300$ 1,926,217$ 6,518,325$ 2,828,358$ City of GeorgetownValley View Consulting, L.L.C.48 City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Community Bank MMANexBank MMATexas Capital Bank MMATexPoolTexSTAREast West Bank CD 10/08/21Prosperity Bank CD 10/14/21Independent Bank CD 10/18/21Prosperity Bank CD 11/22/21Texas Regional Bank CD 12/07/21East West Bank CD 12/30/21East West Bank CD 01/07/22Prosperity Bank CD 01/21/22East West Bank CD 02/01/22Independent Bank CD 02/05/22Independent Bank CD 02/08/22Prosperity Bank CD 02/10/22R Bank CD 02/25/22Prosperity Bank CD 03/21/22Prosperity Bank CD 04/21/22Independent Bank CD 04/22/22Independent Bank CD 05/09/22Prosperity Bank CD 05/17/22Prosperity Bank CD 06/13/22Prosperity Bank CD 07/01/22Prosperity Bank CD 07/25/22Prosperity Bank CD 08/01/22Prosperity Bank CD 08/22/22Prosperity Bank CD 09/12/22Prosperity Bank CD 10/24/22Prosperity Bank CD 11/17/22Prosperity Bank CD 11/23/22Prosperity Bank CD 12/21/22R Bank CD 12/31/22Bank OZK CD 02/23/23Veritex Community Bank CD 03/09/23Prosperity Bank CD 04/24/23Prosperity Bank CD 05/01/23Bank OZK CD 06/12/23R Bank CD 06/30/23Veritex Community Bank CD 09/25/23TotalsSeptember 30, 2021Book & Market Value(Continued)2020 CO-Facilities/Equip/Parks2020 CO-Stormwater2020 GO-Roads2020 Revenue-Water/WWElectric-LCRA TransformersCity - 2021 CO AirportCity - 2021 CO Fac/Equip/ParksCity - 2021 GO ParksCity - 2021 GO RoadsCity - 2021A CO ElectricCity - 2021A CO Water/WW–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,600,026 488,674 5,402,091 1,646,143 4,156,465 700,025 12,533,816 1,000,035 6,264,002 4,983,087 13,402,129 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,789 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,600,026$ 488,674$ 7,402,880$ 1,646,143$ 4,156,465$ 700,025$ 12,533,816$ 1,000,035$ 6,264,002$ 4,983,087$ 13,402,129$ City of GeorgetownValley View Consulting, L.L.C.49 City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Community Bank MMANexBank MMATexas Capital Bank MMATexPoolTexSTAREast West Bank CD 10/08/21Prosperity Bank CD 10/14/21Independent Bank CD 10/18/21Prosperity Bank CD 11/22/21Texas Regional Bank CD 12/07/21East West Bank CD 12/30/21East West Bank CD 01/07/22Prosperity Bank CD 01/21/22East West Bank CD 02/01/22Independent Bank CD 02/05/22Independent Bank CD 02/08/22Prosperity Bank CD 02/10/22R Bank CD 02/25/22Prosperity Bank CD 03/21/22Prosperity Bank CD 04/21/22Independent Bank CD 04/22/22Independent Bank CD 05/09/22Prosperity Bank CD 05/17/22Prosperity Bank CD 06/13/22Prosperity Bank CD 07/01/22Prosperity Bank CD 07/25/22Prosperity Bank CD 08/01/22Prosperity Bank CD 08/22/22Prosperity Bank CD 09/12/22Prosperity Bank CD 10/24/22Prosperity Bank CD 11/17/22Prosperity Bank CD 11/23/22Prosperity Bank CD 12/21/22R Bank CD 12/31/22Bank OZK CD 02/23/23Veritex Community Bank CD 03/09/23Prosperity Bank CD 04/24/23Prosperity Bank CD 05/01/23Bank OZK CD 06/12/23R Bank CD 06/30/23Veritex Community Bank CD 09/25/23TotalsSeptember 30, 2021Book & Market ValueCity - 2021A GO RoadsCity - American Rescue Plan–$ –$ – – – – – – – – – – 28,000,176 4,014,869 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 28,000,176$ 4,014,869$ City of GeorgetownValley View Consulting, L.L.C.50 ________________________________________________________________________ Leigh Wallace Nathan Parras Finance Director Assistant Finance Director ________________________________________________________________________ Karrie Pursley Elaine Wilson Treasurer Assistant Finance Director Georgetown Economic Development Corporation (GEDCO) QUARTERLY INVESTMENT REPORT For the Quarter Ended December 31, 2021 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. 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. 51 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield MMA 2,131,487$ 2,131,487$ 2,132,009$ 2,132,009$ 0.10% Pools 5,515,983 5,515,983 6,489,373 6,489,373 0.02% Certificates of Deposit 2,002,381 2,002,381 2,003,592 2,003,592 0.24% 9,649,850$ 9,649,850$ 10,624,975$ 10,624,975$ 0.08% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.08%Total Portfolio 0.08% Rolling Three Month Treasury 0.06%Rolling Three Month Treasury 0.06% Rolling Six Month Treasury 0.08%Rolling Six Month Treasury 0.08% TexPool 0.04%TexPool 0.04% Interest income provided in separate report. September 30, 2021 (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. December 31, 2021 Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.52 Economic Overview12/31/2021 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading <0.10%). The FOMC began reducing monthly security purchases during Nov 2021 and then increased the paced at the December meeting. Projections for target range increases shortened to late spring or early summer 2022. Third Quarter GDP posted +2.3% (Final). December employment reflected U-2 dropping to 3.9% and Non-Farm Payroll adding 199k net new jobs (Three Month Average NFP = 365). Crude oil reversed recent declines and bounced back to +/-$75 per barrel. The Stock Markets reached new highs. Many domestic economic indicators remain positive. The Build Back Better legislation stalled in the Senate. The Debt Ceiling was increased to $31+ trillion, easing any near-term funding pressures. Inflation remained well over the FOMC 2% target and does not appear positioned to decline in the near term. The Yield Curve shifted higher primarily six months and longer.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,7504,0004,2504,5004,7505,0005,250S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.200.400.600.801.001.201.401.60Treasury Yield CurvesDecember 31, 2020September 30, 2021December 31, 20210.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.53 Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield Veritex Bank MMA 0.10%01/01/22 12/31/21 2,132,009$ 2,132,009$ 1.00 2,132,009$ 1 0.10% TexasDAILY AAAm 0.02%01/01/22 12/31/21 2,126,023 2,126,023 1.00 2,126,023 1 0.02% TexSTAR AAAm 0.01%01/01/22 12/31/21 4,363,350 4,363,350 1.00 4,363,350 1 0.01% Veritex Bank CD 0.24%8/5/2022 02/08/21 2,003,592 2,003,592 100.00 2,003,592 217 0.24% 10,624,975$ 10,624,975$ 10,624,975$ 42 0.08% (1)(2) December 31, 2021 (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. Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.54 MMA 20% Pools 61% Certificates of Deposit 19% GEDCO PORTFOLIO COMPOSITION $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 03/31/21 6/30/2021 9/30/2021 12/31/2021 GEDCO PORTFOLIO BALANCES CD TexasDAILY TexSTAR Money Market Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.55 Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 09/30/21 Increases Decreases Book Value 12/31/21 Market Value 09/30/21 Change in Market Value Market Value 12/31/21 Veritex Bank MMA 0.10%01/01/22 2,131,487$ 523$ –$ 2,132,009$ 2,131,487$ 523$ 2,132,009$ TexasDAILY 0.02%01/01/22 2,125,934 89 – 2,126,023 2,125,934 89 2,126,023 TexSTAR 0.01%01/01/22 3,390,049 973,301 – 4,363,350 3,390,049 973,301 4,363,350 Veritex Bank CD 0.24%8/5/2022 2,002,381 1,211 – 2,003,592 2,002,381 1,211 2,003,592 TOTAL / AVERAGE 0.08%9,649,850$ 975,124$ –$ 10,624,975$ 9,649,850$ 975,124$ 10,624,975$ Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.56 Georgetown Transportation Enhancement Corporation (GTEC) QUARTERLY INVESTMENT REPORT For the Quarter Ended December 31, 2021 Prepared by Valley View Consulting, L.L.C. ________________________________________________________________________ Leigh Wallace Nathan Parras Finance Director Assistant Finance Director ________________________________________________________________________ Karrie Pursley Elaine Wilson Treasurer 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. 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. 57 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield Pools/MMAs 34,752,525$ 34,752,525$ 38,261,243$ 38,261,243$ 0.03% CDs/Securities 3,012,460 3,012,460 3,013,586 3,013,586 0.15%Totals 37,764,985$ 37,764,985$ 41,274,830$ 41,274,830$ 0.04% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.04%Total Portfolio 0.04% Rolling Three Month Treasury 0.06%Rolling Three Month Treasury 0.06% Rolling Six Month Treasury 0.08%Rolling Six Month Treasury 0.08% TexPool 0.04%TexPool 0.04% Interest data provided in separate report. September 30, 2021 (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. December 31, 2021 Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.58 Economic Overview12/31/2021The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading <0.10%). The FOMC began reducing monthly security purchases during Nov 2021 and then increased the paced at the December meeting. Projections for target range increases shortened to late spring or early summer 2022. Third Quarter GDP posted +2.3% (Final). December employment reflected U-2 dropping to 3.9% and Non-Farm Payroll adding 199k net new jobs (Three Month Average NFP = 365). Crude oil reversed recent declines and bounced back to +/-$75 per barrel. The Stock Markets reached new highs. Many domestic economic indicators remain positive. The Build Back Better legislation stalled in the Senate. The Debt Ceiling was increased to $31+ trillion, easing any near-term funding pressures. Inflation remained well over the FOMC 2% target and does not appear positioned to decline in the near term. The Yield Curve shifted higher primarily six months and longer.02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,7504,0004,2504,5004,7505,0005,250S&P 5000.000.501.001.502.002.503.003.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.200.400.600.801.001.201.401.60Treasury Yield CurvesDecember 31, 2020September 30, 2021December 31, 20210.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.59 Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield TexPool AAAm 0.04%01/01/22 12/31/21 20,864,554$ 20,864,554$ 1.00 20,864,554$ 1 0.04% TexSTAR AAAm 0.01%01/01/22 12/31/21 14,706,484 14,706,484 1.00 14,706,484 1 0.01% Veritex Bank MMA 0.10%01/01/22 12/31/21 2,690,205 2,690,205 1.00 2,690,205 1 0.10% Prosperity Bank CD 0.15%08/23/22 08/23/21 3,013,586 3,013,586 100.00 3,013,586 235 0.15% TOTALS 41,274,830$ 41,274,830$ 41,274,830$ 18 0.04% (1)(2) December 31, 2021 (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. Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.60 Pools/MMAs 93% CDs/Securities 7% 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 $40,000,000 $45,000,000 3/31/2021 6/30/2021 9/30/2021 12/31/2021 GTEC PORTFOLIO BALANCES CD TexPool TexSTAR Money Market Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.61 Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 09/30/21 Increases Decreases Book Value 12/31/21 Market Value 09/30/21 Change in Market Value Market Value 12/31/21 TexPool 0.04%01/01/22 16,970,004$ 3,894,550$ –$ 20,864,554$ 16,970,004$ 3,894,550$ 20,864,554$ TexSTAR 0.01%01/01/22 15,092,976 – (386,492) 14,706,484 15,092,976 (386,492) 14,706,484 Veritex Bank MMA 0.10%01/01/22 2,689,545 660 – 2,690,205 2,689,545 660 2,690,205 Prosperity Bank CD 0.15%08/23/22 3,012,460 1,127 – 3,013,586 3,012,460 1,127 3,013,586 TOTAL / AVERAGE 0.04%37,764,985$ 3,896,337$ (386,492)$ 41,274,830$ 37,764,985$ 3,509,845$ 41,274,830$ Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.62 DepartmentFederal GrantorPass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized AirportN/ATexas Department of Transportation-AviationM2214GEORRAMP Grant - Routine Airport Maintenance Program- - Emergency Management US Dept. of the TreasuryAmerican Rescue Plan Act SLFRF Funding 72,000.00 72,000.00 FireUS Department of Homeland SecurityFederal Emergency Management AgencyEMW-2017-FH-00496 SAFER 305,582.31 - LibraryTexas Commission on the ArtsDowntown Cultural District Grant - 104,500.00 Planning US Department of Housing & Urban Development Williamson CountyCDBG 21st St Infrastructure 14,521.50 - Planning US Department of Housing & Urban Development Williamson CountyCDBG Home Repair 30,447.17 - PoliceUS. Department of JusticeN/ATX2460200Equitable Sharing Agreement - - Public WorksDept. of Transportation /Federal Highway AdministrationTexas Department of TransportationCSJ-0914-05-187Highway Planning & Construction (Austin Ave Bridge) - - DivisionGrantorCOG Name/Purpose StatusEmergency Management FEMA TDEM DR-4586 Winter Storm Uri RecoveryReviewed By: Elaine Wilson CITY OF GEORGETOWNGrant/Federal Funding Reportas of December 31, 2021Active Applications Pending Award Under FEMA Review 63 Project Budget Total Spend Remaining Budget % Remaining Airport Operations Airport - Self Managed PRJ000197 Hangar Mainenance 240,000 - 240,000 100% PRJ000198 Pavement Maintenance 60,000 - 60,000 100% PRJ000199 Wildlife Management 150,000 18,000 132,000 88% Airport - Self Managed Total 450,000 18,000 432,000 96% Airport Operations Total 450,000 18,000 432,000 96% Airport Operations - Projects Management Services PRJ000184 Airport Maintenance Facility 1,250,000 - 1,250,000 100% Management Services Total 1,250,000 - 1,250,000 100% Airport Operations - Projects Total 1,250,000 - 1,250,000 100% CDBG - Projects CDBG PRJ000003 17th Street 193,000 175,137 17,863 9% PRJ000144 Maple Street (Inactive)80,784 - 80,784 100% PRJ000248 21st W/WW offsite CDBG 97,000 48,405 48,595 50% CDBG Total 370,784 223,542 147,242 40% CDBG - Projects Total 370,784 223,542 147,242 40% Downtown TIRZ Management Services PRJ000028 Downtown Parking Expansion (Inactive)68,510 63,005 5,505 8% PRJ000191 Georgetown City Center - Festival/Public Space - 30,524 (30,524) 0% Management Services Total 68,510 93,529 (25,019) -37% Parks PRJ000050 Grace Heritage Plaza (Inactive)139,100 45,900 93,200 67% Parks Total 139,100 45,900 93,200 67% Downtown TIRZ Total 207,610 139,429 68,181 33% Electric Services Electric PRJ000073 Power Quality Improvements 50,000 - 50,000 100% PRJ000195 Downtown Overhead Rehab - - - 0% Electric Total 50,000 - 50,000 100% Electric Services Total 50,000 - 50,000 100% Electric Services - Projects Electric PRJ000022 Consultant Engineering 271,352 66,291 205,061 76% PRJ000026 Db Wood_Sh29 Intersection 240,000 170,413 69,587 29% PRJ000036 Electrical System Improvement 100,000 21,105 78,895 79% PRJ000040 Fiber Optic (Inactive)19,516 19,516 - 0% PRJ000062 New Development Projects 7,778,209 5,949,620 1,828,589 24% PRJ000095 Shell Road Feeders (Inactive)160,000 181,545 (21,545) -13% PRJ000147 Sectionalization Improvements 1,100,000 - 1,100,000 100% PRJ000175 I-35 Mobility Project TxDot 200,000 274,699 (74,699) -37% PRJ000189 Ronald Reagan - Glasscock Feeder Extension along Hwy 195 -Phase I 560,000 269,870 290,130 52% PRJ000192 Ronald Reagan - Glasscock Feeder extension along Hwy 195 - Phase II 591,250 303,578 287,672 49% PRJ000195 Downtown Overhead Rehab 2,400,000 39,610 2,360,390 98% PRJ000221 Titan-Aviation Dr to IH35 Infrastructure Addition 1,000,000 920,096 79,904 8% PRJ000222 Electric Design Software Replacement 80,000 - 80,000 100% PRJ000225 Chapel Hill, WS-11139 (GEO-45-C.3)437,577 391,908 45,669 10% PRJ000226 Wolf Ranch West - Section 1AG & 1BG 479,052 342,084 136,968 29% PRJ000227 Ascend Westinghouse Apartments 444,598 232,282 212,315 48% PRJ000229 Sun City NH 76 WS-11188 (GEO-18.2-N.51)274,030 172,439 101,592 37% PRJ000230 Sun City NH 78 296,400 118,796 177,604 60% PRJ000231 Georgetown Titan Development 1 & 2 140,428 112,659 27,769 20% PRJ000232 Texas Outdoor Power Building 1 91,414 64,415 26,999 30% PRJ000234 Summit at Westinghouse Self-Storage 49,685 32,450 17,235 35% PRJ000236 Medcore (Georgetown) Senior Living 226,972 202,637 24,334 11% PRJ000238 The Oscar at Georgetown 366,351 215,740 150,611 41% PRJ000239 Wolf Ranch West - Section 3 - Phase 2 418,339 292,399 125,940 30% PRJ000242 Allora North Georgetown 557,422 168,984 388,438 70% PRJ000243 Fairfield Inn - WS11346 131,340 41,581 89,759 68% PRJ000245 Morgan Mays Street Apartments 452,508 215,189 237,319 52% PRJ000246 Vida Apartments 198,248 112,643 85,606 43% PRJ000250 Georgetown Infiniti 135,633 46,895 88,737 65% PRJ000270 System Improvements - Power Quality 750,000 15,657 734,343 98% PRJ000271 System Improvements - Capacity Upgrades 10,000,000 16,777 9,983,223 100% PRJ000272 Wolf Lakes 566,109 361,356 204,753 36% PRJ000273 The Grove II Townhomes 108,924 27,930 80,994 74% 64 PRJ000282 ANB Systems - Interconnection Service Portal 80,000 23,046 56,954 71% PRJ000283 Partners Software and Implementation 120,000 28,250 91,750 76% PRJ000284 Woodgate Development 195,933 134,574 61,359 31% PRJ000285 Titan NorthPark 35 - Building 3 121,752 168,125 (46,374) -38% PRJ000286 Wolf Ranch West - Section 2G 489,900 218,199 271,701 55% PRJ000287 Gateway 35 - Building 1 266,676 196,587 70,089 26% PRJ000288 Round Rock 2 Apartments 232,173 367,742 (135,569) -58% PRJ000289 Wolf Lakes Offsite Utility 307,445 228,315 79,130 26% PRJ000290 Windmill Hill Blue Ridge Drive Extension 257,827 18,820 239,007 93% PRJ000291 Chick-Fil-A Expansion at WR SC 72,396 5,970 66,426 92% PRJ000292 Aviation Drive Extension - Lift Station 48,390 28,017 20,373 42% PRJ000296 Sun City NH10 - Phase B 120,119 121,107 (988) -1% PRJ000299 Wolf Lakes Apartments - Hines Tract 446,777 170,704 276,073 62% PRJ000300 Wolf Lakes Bella Lago Underground Extension 314,510 103,558 210,952 67% PRJ000301 Titan NorthPark 35 - Building 5 166,073 3,674 162,399 98% PRJ000302 Somerset Hills - Phase A-B 970,256 - 970,256 100% PRJ000303 Westinghouse Retail Center at Windmill Hill 69,152 39,262 29,890 43% PRJ000306 Toolman Business Park 124,108 - 124,108 100% PRJ000307 Sonrisa MOB, WS-11306, MPN-21-19 68,043 73,012 (4,969) -7% Electric Total 35,096,887 13,330,128 21,766,759 62% Electric Services - Projects Total 35,096,887 13,330,128 21,766,759 62% Facilities Maintenance Fund Management Services PRJ000252 Fire Logistics Building 1,500,000 - 1,500,000 100% Management Services Total 1,500,000 - 1,500,000 100% Facilities Maintenance Fund Total 1,500,000 - 1,500,000 100% Fleet Services Fund Fleet PRJ000279 Electric Bond Funded Vehicles - FY22 1,061,500 958,977 102,523 10% PRJ000280 Fire Bond Funded Vehicles - FY22 1,958,000 1,896,440 61,560 3% PRJ000281 Police Bond Funded Vehicles - FY22 1,277,000 1,204,710 72,290 6% Fleet Total 4,296,500 4,060,127 236,373 6% Fleet Services Fund Total 4,296,500 4,060,127 236,373 6% General Capital Projects Environmental Services PRJ000116 Transfer Station 11,000,000 961,311 10,038,689 91% Environmental Services Total 11,000,000 961,311 10,038,689 91% Finance PRJ000038 ERP Project 6,231,654 6,016,986 214,668 3% Finance Total 6,231,654 6,016,986 214,668 3% Fire PRJ000134 SCBA Replacement 1,170,000 840,934 329,066 28% PRJ000135 Cardiac Monitors 483,517 483,517 - 0% Fire Total 1,653,517 1,324,451 329,066 20% Fleet PRJ000124 Radio Replacement 938,278 215,127 723,151 77% Fleet Total 938,278 215,127 723,151 77% GTEC Department PRJ000061 NB Front Rd (2338 To Lakeway) (Inactive)150,000 - 150,000 100% PRJ000203 FM1460 Widening 300,984 - 300,984 100% PRJ000206 NB Front Rd (2338 To Lakeway)216,000 221,766 (5,766) -3% GTEC Department Total 666,984 221,766 445,218 67% Management Services PRJ000028 Downtown Parking Expansion (Inactive)644,266 638,942 5,325 1% PRJ000029 Downtown Parking Garage 291,483 151,910 139,573 48% PRJ000033 Dtwn Landsping & Public Art (Inactive)5,746 5,746 - 0% PRJ000037 EOC Siren System 15,525 (8,564) 24,089 155% PRJ000042 Fire Station 6 5,500,000 5,329,884 170,116 3% PRJ000043 Fire Station 7 7,198,744 6,471,806 726,938 10% PRJ000067 Parking Improvements 68,510 - 68,510 100% PRJ000131 Fuel Station 1,100,000 83,088 1,016,913 92% PRJ000136 GMC Remodel Phase I 500,000 458,524 41,476 8% PRJ000178 Public Safety Operation and Training Center Phase II 4,500,000 124,039 4,375,961 97% PRJ000179 Recreation Center Teen/Senior Renovation 247,979 - 247,979 100% PRJ000180 Recreation Center Natatorium HVAC Replacement 700,000 667,546 32,454 5% PRJ000191 Georgetown City Center - Festival/Public Space 5,400,000 44,560 5,355,440 99% PRJ000223 City Center Signage 125,000 - 125,000 100% Management Services Total 26,297,254 13,967,480 12,329,773 47% Parks 65 PRJ000048 Garey Park 15,346,730 15,234,022 112,708 1% PRJ000089 San Gabriel Park Improvement 13,025,000 7,384,382 5,640,618 43% PRJ000125 Parks Master Plan 229,998 229,998 - 0% PRJ000126 Regional Trail Development 1,275,000 142,100 1,132,900 89% PRJ000127 Neighborhood Park Development (Inactive)240,541 240,541 - 0% PRJ000129 Ada Transition Plan 1,075,982 787,052 288,930 27% PRJ000130 Tennis Center Pool Demo (Inactive)39,076 - 39,076 100% PRJ000190 Heritage Gardens 275,860 244,052 31,808 12% PRJ000205 Katy Crossing Trail (Inactive)700,000 500,181 199,819 29% PRJ000240 South Main Plaza 272,450 62,750 209,700 77% PRJ000244 Grace Heritage Plaza 90,000 90,000 - 0% PRJ000253 Southeast Community Park 14,500,000 - 14,500,000 100% PRJ000278 Regional Trail Improvements 200,000 - 200,000 100% PRJ000293 San Gabriel Park - Phase 3 663,870 651,169 12,701 2% Parks Total 47,934,507 25,566,248 22,368,259 47% Police PRJ000133 Body Cameras 800,000 800,000 0 0% Police Total 800,000 800,000 0 0% Public Works - Self Managed Department PRJ000204 Historic District Street Signs - - - 0% Public Works - Self Managed Department Total - - - 0% Public Works Department PRJ000013 Austin Avenue Bridge 1,829,000 1,041,723 787,278 43% PRJ000100 Southeast Inner Loop - - - 0% PRJ000137 Intersection Improvements (Lakeway @ Williams Drive)1,711,728 262,810 1,448,918 85% PRJ000138 Downtown Sidewalks 2,579,978 1,565,694 1,014,284 39% PRJ000139 Westinghouse - Scenic Lake Traffic Signal 600,000 343,447 256,553 43% PRJ000140 Austin Ave Bridges 10,184,000 - 10,184,000 100% PRJ000141 Southwestern Blvd 4,200,000 876,460 3,323,540 79% PRJ000143 Leander Rd(Norwood-Swbypass)6,750,000 994,025 5,755,975 85% PRJ000171 Shell Rd Sidewalk (Inactive)229,825 203,755 26,070 11% PRJ000188 DB Wood (SH 29 to Oak Ridge)18,000,000 1,703,636 16,296,364 91% PRJ000201 Austin Ave. (Sh29-Fm2243)466,000 466,000 - 0% PRJ000202 FM 971 5,821,392 5,821,392 0 0% PRJ000207 Northwest Blvd Bridge 12,418,528 11,319,343 1,099,184 9% PRJ000208 Old Town Northeast 906,159 906,159 - 0% PRJ000209 Southeast Inner Loop 10,521,000 4,912,194 5,608,806 53% PRJ000214 Intersection Improvements (Traffic Signals)1,650,000 1,365,168 284,832 17% PRJ000215 2021 Intersection Safety Enhancements (RRFB)475,166 96,450 378,716 80% PRJ000216 FY21 Downtown Sidewalk Improvements 1,000,000 130,000 870,000 87% PRJ000217 SW Bypass - Wolf Ranch Extension 1,000,000 35,523 964,477 96% PRJ000254 Shell Road 12,503,000 - 12,503,000 100% PRJ000255 Rockride Lane 5,776,000 - 5,776,000 100% PRJ000256 Westinghouse Road 8,200,000 2,050,000 6,150,000 75% PRJ000257 Sam Houston Ave Ext/SE1/Wilco Corridor 4,000,000 - 4,000,000 100% PRJ000258 DB Wood (Oak Ridge to Williams Dr)18,895,000 - 18,895,000 100% PRJ000267 Allocations - Intersections/Bike Lanes/Sidewalks - MB21 10,450,000 - 10,450,000 100% PRJ000277 Intersection Improvements - FY22 1,200,000 - 1,200,000 100% PRJ000297 Southeast Inner Loop - MB21 32,061,000 - 32,061,000 100% PRJ000310 Southwest Bypass (Wolf Ranch Parkway to SH29)2,000,000 - 2,000,000 100% Public Works Department Total 175,427,775 34,093,778 141,333,997 81% Right of Way PRJ000200 Access Rtw To Government Srv 220,000 220,000 - 0% Right of Way Total 220,000 220,000 - 0% General Capital Projects Total 271,169,969 83,387,147 187,782,822 69% General Fund - Projects Parks PRJ000055 Katy Crossing Trail (Inactive)700,000 - 700,000 100% Parks Total 700,000 - 700,000 100% Public Works Department PRJ000012 Austin Ave. (Sh29-Fm2243) (Inactive)466,000 - 466,000 100% PRJ000013 Austin Avenue Bridge 1,026,398 732,442 293,956 29% Public Works Department Total 1,492,398 732,442 759,956 51% Right of Way PRJ000007 Access Rtw To Government Srv 220,000 - 220,000 100% Right of Way Total 220,000 - 220,000 100% Water PRJ000169 FY2020 Lift Station Upgrade (Inactive)- - - 0% Water Total - - - 0% General Fund - Projects Total 2,412,398 732,442 1,679,956 70% 66 GTEC GTEC Department PRJ000265 Project Diana (Witteria Way - Gateway 35)1,700,000 - 1,700,000 100% GTEC Department Total 1,700,000 - 1,700,000 100% GTEC Total 1,700,000 - 1,700,000 100% GTEC - Projects GTEC Department PRJ000046 FM 971/ Fontana (Nw Bridge)1,209,000 1,206,390 2,610 0% PRJ000047 FM1460 Widening (Inactive)- - - 0% PRJ000053 IH 35/ Hwy 29 Intersection Imp 1,800,000 120,066 1,679,934 93% PRJ000060 Rabbit Hill Road 4,100,000 421,214 3,678,786 90% PRJ000083 Rivery Tia Improvements 1,179,000 1,094,839 84,161 7% PRJ000092 Se Inner Loop Widening (Inactive)8,148,000 - 8,148,000 100% PRJ000145 Sh29 Signal And Roadway Improvements 1,595,000 389,100 1,205,900 76% PRJ000146 Wolf Ranch Parkway Extension (Inactive)1,100,000 - 1,100,000 100% PRJ000181 Aviation Drive 10,300,000 1,372,513 8,927,487 87% PRJ000182 Capella 1,500,000 - 1,500,000 100% PRJ000183 Costco 2,000,000 - 2,000,000 100% GTEC Department Total 32,931,000 4,604,122 28,326,878 86% Public Works Department PRJ000209 Southeast Inner Loop - 3,985,470 (3,985,470) 0% Public Works Department Total - 3,985,470 (3,985,470) 0% Right of Way PRJ000007 Access Rtw To Government Srv - - - 0% Right of Way Total - - - 0% GTEC - Projects Total 32,931,000 8,589,592 24,341,408 74% Stormwater Services - Projects Stormwater PRJ000004 18th and Hutto Drainage 164,793 5,969 158,824 96% PRJ000005 2nd and Rock Pond (Inactive)625,000 447,151 177,849 28% PRJ000024 2020 Curb & Gutter 1,055,000 766,902 288,098 27% PRJ000104 Stormwater Infrastructure 347,000 168,506 178,495 51% PRJ000148 Water Quality Ponds (Inactive)98,000 - 98,000 100% PRJ000149 Drainage Improvement/Flood Mitigation Projects 300,000 - 300,000 100% PRJ000213 2021 Curb & Gutter Project 500,000 64,300 435,700 87% PRJ000274 2022 Curb & Gutter 500,000 65,250 434,750 87% Stormwater Total 3,589,793 1,518,078 2,071,715 58% Stormwater Services - Projects Total 3,589,793 1,518,078 2,071,715 58% Street Tax Public Works Department PRJ000172 2020 Street Maintenance High Performance Seal: Bid Package No.1 372,200 349,542 22,658 6% PRJ000173 2020 Street Maintenance High Performance Seal: Bid Package No. 2 463,195 337,719 125,476 27% PRJ000174 2020 street maintenance HIPR 1,935,589 1,191,547 744,042 38% PRJ000210 2021 HIPR Street Maintenance 2,300,000 2,296,728 3,272 0% PRJ000211 2021 High Performance Pavement Seal Project #1 750,000 749,501 499 0% PRJ000212 2021 High Performance Pavement Seal Project #2 600,000 576,567 23,433 4% PRJ000237 Northeast Inner Loop (Stadium to FM971) Emergency Repairs 700,000 681,858 18,142 3% PRJ000294 2022 HIPR 2,750,000 308,700 2,441,300 89% PRJ000295 2022 High Performance Pavement Seal 1,125,000 209,300 915,700 81% PRJ000304 Memorial Drive 3,100,000 - 3,100,000 100% Public Works Department Total 14,095,983 6,701,461 7,394,522 52% Street Tax Total 14,095,983 6,701,461 7,394,522 52% Transportation GTEC Department PRJ000046 FM 971/ Fontana (Nw Bridge)- - - 0% PRJ000047 FM1460 Widening (Inactive)794,000 - 794,000 100% PRJ000060 Rabbit Hill Road - - - 0% PRJ000061 NB Front Rd (2338 To Lakeway) (Inactive)216,000 - 216,000 100% GTEC Department Total 1,010,000 - 1,010,000 100% Public Works Department PRJ000045 FM 971 - (26,684) 26,684 0% PRJ000063 Northwest Blvd Bridge 3,509,094 421,578 3,087,516 88% PRJ000065 Old Town Northeast (Inactive)855,021 (19,064) 874,085 102% PRJ000100 Southeast Inner Loop - - - 0% Public Works Department Total 4,364,115 375,830 3,988,285 91% Transportation Total 5,374,115 375,830 4,998,285 93% Village PID Parks 67 PRJ000249 GVPID Landscape Improvements - 61,500 (61,500) 0% Parks Total - 61,500 (61,500) 0% Village PID Total - 61,500 (61,500) 0% Water Services - Projects GTEC Department PRJ000181 Aviation Drive - 150,840 (150,840) 0% GTEC Department Total - 150,840 (150,840) 0% Water PRJ000014 Berry Creek Inter.49,949,000 1,734,827 48,214,173 97% PRJ000016 Braun Est (Inactive)1,290,458 1,290,458 - 0% PRJ000017 Cedar Breaks Est 3,385,000 - 3,385,000 100% PRJ000023 Cr 255 (Wd14-2)1,817,359 323,841 1,493,518 82% PRJ000025 Db Wood/ Pastor 24 Dedicated 440,726 440,726 - 0% PRJ000027 Domel PS Improvements (Inactive)5,816,000 - 5,816,000 100% PRJ000034 Earz 2,326,000 364,015 1,961,985 84% PRJ000057 Lift Station Upgrade 1,723,593 8,593 1,715,000 100% PRJ000059 LWTP Raw Water Intake Rehab 6,750,000 5,666,956 1,083,044 16% PRJ000066 Park Lift Station & Force Main 3,574,341 2,220,017 1,354,324 38% PRJ000069 Pecan Branch Ph 2 (Inactive)238,041 238,041 - 0% PRJ000075 Pumps & Storage 9,289 9,289 - 0% PRJ000076 Rabbit Hill Est (Inactive)1,826,000 873,294 952,706 52% PRJ000085 Ronald Reagan/Daniels Mountain 140,989 140,989 - 0% PRJ000087 S. Lake Wtp 2018 (Inactive)6,950,000 - 6,950,000 100% PRJ000088 San Gabriel Belt Press and Rehab (Inactive)2,594,238 2,591,167 3,071 0% PRJ000096 Shell Road Water Line 6,890,000 1,114,540 5,775,460 84% PRJ000101 Southlake Wtp 100,000,000 12,693,720 87,306,280 87% PRJ000103 Stonehedge Ls & Fm (Inactive)150,000 - 150,000 100% PRJ000108 Sun City Elevated Storage Tank (Inactive)3,224,000 - 3,224,000 100% PRJ000110 Sw Bypass Waterline 1,106,000 - 1,106,000 100% PRJ000115 Use PRJ000163 for Tank Rehab (Inactive)- - - 0% PRJ000119 Water Mains 1,536,750 501,352 1,035,398 67% PRJ000121 Westinghouse Ls & Fm (Inactive)3,299,000 - 3,299,000 100% PRJ000122 Westside Facility (Inactive)505,500 - 505,500 100% PRJ000123 WW Interceptors - - - 0% PRJ000150 Carriage Oaks Transmission 600,000 - 600,000 100% PRJ000151 FY2020 CR262 Waterline (Inactive)- - - 0% PRJ000152 Hoover Pump Station 6,850,000 855,221 5,994,779 88% PRJ000153 FY2020 Round Rock Supply Line (Inactive)300,000 - 300,000 100% PRJ000154 Stonewall Ranch Pump Station Improvements 3,100,000 - 3,100,000 100% PRJ000155 Southside Water Treatment Plant 6,426,706 981,550 5,445,156 85% PRJ000156 Gatlin/Teravista Improvements 450,000 - 450,000 100% PRJ000157 Leander Interconnect 340,245 340,245 - 0% PRJ000158 West loop (H-1A)447,385 447,385 - 0% PRJ000160 Round Rock Supply Pump Station And Elevated Storage Tank 10,500,000 1,427,473 9,072,527 86% PRJ000161 Miscellaneous Line Upgrades 1,372,000 811,753 560,247 41% PRJ000162 South West Bypass Water (H24-1)2,906,000 2,498,026 407,974 14% PRJ000163 Tank Rehabilitation 3,274,536 455,494 2,819,042 86% PRJ000164 Council Chamber Water 423,000 15,960 407,040 96% PRJ000165 San Gabriel WWTP Rehabilitation 3,257,307 1,622,000 1,635,307 50% PRJ000167 San Gabriel Inter SGI -2 4,500,000 912,755 3,587,245 80% PRJ000168 WWTP Upgrade 950,000 209,000 741,000 78% PRJ000177 Northlake WTP Phase IV Expansion 15,000,000 14,762,011 237,989 2% PRJ000185 Cimarron Hills Wastewater Treatment Plant Expansion 5,300,000 799,325 4,500,675 85% PRJ000186 Water Oak 24" Waterline (Inactive)- - - 0% PRJ000218 EARZ Wastewater Rehabilitation Area 2 - 2019 2,768,469 2,460,360 308,109 11% PRJ000219 Southside GST Foundation Improvements 535,678 535,678 - 0% PRJ000228 Southside GST Roof Rehab 791,500 547,000 244,500 31% PRJ000241 2020 - 2021 EARZ - Area 3 1,500,000 513,816 986,184 66% PRJ000259 Pecan Branch WWTP Expansion 37,000,000 - 37,000,000 100% PRJ000260 CR 262 Waterline 2,500,000 - 2,500,000 100% PRJ000261 Dove Springs WWTP Rehabilitation 3,200,000 516,900 2,683,101 84% PRJ000262 Wolf Ranch Expansion and Force Main 5,900,000 - 5,900,000 100% PRJ000263 Water - Wastewater Master Plan 600,000 582,110 17,890 3% PRJ000264 Interceptor Lift Station Removal & Gravity Main 8,500,000 - 8,500,000 100% PRJ000266 SCADA Upgrades 1,500,000 - 1,500,000 100% PRJ000268 System Resiliency 3,500,000 263,320 3,236,680 92% PRJ000275 FY2022 EARZ -Area 4 2,000,000 - 2,000,000 100% Water Total 341,835,109 61,769,207 280,065,903 82% Water Operations PRJ000220 AMI Western District Improvements 750,000 - 750,000 100% Water Operations Total 750,000 - 750,000 100% Water Services - Projects Total 342,585,109 61,920,047 280,665,063 82% Grand Total 717,080,149 181,057,323 536,022,826 75% 68 Unfunded Liability & CommitmentsFinancial Impact/NotesStatus Updates ‐ 9/30/21Status Updates ‐ 12/31/21Cemetery Special Revenue Fund Perpetual ReserveCurrently 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 transfer $75,000 annually for future costs associated with maintaining the property.  The General Fund has made this transfer in since FY 2016. While the perpetual reserve has grown slowly, it is not on pace to sustain the Cemetery Fund long‐term. The fund is estimated to need a $5 million balance to be self‐sustaining on interest earnings and cemetery revenue.The FY2021 projected ending fund balance is $650,000. The general fund transfer was restored to the $75,000 in the FY2022 budget.  No Change. Council gave no direction during the Fiscal Policy update on reserves not in compliance.No Change. Fiscal policies not in compliance will be discussed with Council at the March 8 workshop on the First Quarter Report.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 eachfund. The UAAL is provided by TMRS and lags one year.As of 9/30/2020, the net pension liability is $18.7 million and is 88.97% funded. This decrease in liability is due to a change in the actuarial assumptions. No change, this report is not yet available.No change, this report is not yet available.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 9/30/2020 is $2.7 million. This is a combination of sudden death benefits as well as post‐retirement healthcare. No change, this report is not yet available.OPEB liability as of 9/30/21 is $4.9 million.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.Compensated absences as of 9/30/2020 are $8.2 million. More time was earned than used during FY2020 as many plans were changed related to the pandemic. The City did not extend any vacation cap carry overs in general. As with any year, specific requests for carryover are considered and approved by the City Manager. No change, this report is not yet available.Compensated absences as of 9/30/21 are $8.4 million.CITY OF GEORGETOWNLong-term Commitments, Reservations, and Other Unfunded Liabilities12/31/202169 Unfunded Liability & CommitmentsFinancial Impact/NotesStatus Updates ‐ 9/30/21Status Updates ‐ 12/31/21Electric Fund Rate Stabilization ReserveIntended to mitigate potential rate impacts due to increasedpurchased power costs or other external factors. The RSR is maintained within the Electric Fund. FY2021 preliminary year‐end fund balance is $40.5 million. The Electric Fund experienced accelerated new development capital projects and will need a year‐end budget amendment for 2021 and a revised budget for 2022. After accounting for reserves and capital project roll forwards, available ending fund balance is projected to be $3.9 million.Final ending fund balance in FY2021 is $39.8M. After accounting for capital roll forward and cost of living adjustment amendments in FY2022, ending fund balance is projected to be $36.6M. This fully funds all reserves and leaves a remaining available balance of $1.4M.Airport 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 change.No changeAmericans with Disabilities Act (ADA) Compliance NeedsAs facilities are built or repurposed, meeting ADA compliance will be included in Project Costs.  Funding for program expansion will be needed (General Fund sources). The City has an adopted policy, as required by Federal Law, that it will make reasonable accommodations and modifications to ensure that people with disabilities have an equal opportunity to enjoy its programs, services, and activities. The City does not maintain a reserve for these modifications.ADA trail improvements along the San Gabriel River are nearing completion.  Planning and design is underway for areas along the South San Gabriel River Trail.  The final trail and park ADA improvements are scheduled to be completed in FY22. No Change70 Unfunded Liability & CommitmentsFinancial Impact/NotesStatus Updates ‐ 9/30/21Status Updates ‐ 12/31/21Sidewalk 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. Rock Sidewalk/FY 20 Downtown ADA Sidewalk Improvements. Project is in construction. Contractor wrapped up most work along Rock Street. Currently working at 7th and 8th streets at Austin Ave. Will move over to 7th and Main area next.  FY21 Downtown ADA Sidewalk improvements will be a continuation of Downtown ADA improvements and closing gaps. Design/survey work has begun. The mobility bond passed in the May election, providing new funding over the next 7 years for sidewalks.Rock Sidewalk/FY 20 Downtown ADA Sidewalk Improvements. Project is in construction. Contractor wrapped up most work along Rock Street and the intersections of Austin and 7th/8th streets. Contractor is currently working on 7th street between Main and Church Streets.  FY21 and FY22 Downtown ADA Sidewalk improvements will be a continuation of Downtown ADA improvements and closing gaps. Design/survey work has begun. Internal meetings to take place to ensure coordination with departments on work that may need totake place with the construction.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.Park maintenance and replacement is funded for $297,000 in FY22 through a general fund transfer into the Parks Restricted SRF.  Identified repair and replacement needs total $409,000. Capital repair and maintenance projects at the Recreation Center, Pinnacle Park and Raintree Park are scheduled to be completed later in FY22.  Identified repair and replacement costs for FY23 and FY24 are $780,700 and $455,800 respectively.      No ChangeRadio Equipment ReplacementCommunication system consisting of 500 on‐body and in‐vehicle radios for Police, Fire, parks and utilities. Replacement radios are compatible with newer technology.  The replacement takes place over 5 years due to cost and is funded with certificate of obligation debt. Due to the unexpected retirement of Fleet staff, we were unable to spend the remaining funds and have asked for these funds to roll forward to FY22 which was approved. The replacement count for FY2022 will be finalized and sent to GGAF for approval in April.71 Unfunded Liability & CommitmentsFinancial Impact/NotesStatus Updates ‐ 9/30/21Status Updates ‐ 12/31/21Street 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.Staff received direction from Council on potential uses of available Street Maintenance sales tax dollars and will make these updates in an FY2022 budget amendment.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.Cost recovery for the Fiber asset transfer was continued in the FY 2022 budget, with $665,000 being transferred from the IT internal service fund to the Electric fund.  The IT Department is planning to include the fourth and final installment of the asset transfer as costs to be allocated to other departments in the FY2023 budget.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. No Change. Council gave no direction during the Fiscal Policy update on reserves not in compliance.No Change. Fiscal policies not in compliance will be discussed with Council at the March 8 workshop on the First Quarter Report.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 ameans 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. No Change. Council gave no direction during the Fiscal Policy update on reserves not in compliance.No Change. Fiscal policies not in compliance will be discussed with Council at the March 8 workshop on the First Quarter Report. The Facilities Department plans to increase cost allocation rates in FY2023 budget in order to build this reserve.                                 Eric Johnson ‐ Through the budget process council approved 10% to begin the increase in the Facilities Reserve Fund.                 72 Unfunded Liability & CommitmentsFinancial Impact/NotesStatus Updates ‐ 9/30/21Status Updates ‐ 12/31/21Public 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.No Change. No change. Staff recommends removing this item from list since these funds are consistently built into base budgets each year and are only reduced as a last resort in unusual circumstances.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. FY2021 preliminary year‐end fund balance is estimated to be $2.4 million. Council gave no direction during the Fiscal Policy update on reserves not in compliance. In FY2022, several staff and services re‐organizations are shifting costs out of the Joint Services Fund and into the General Fund and Water Fund. The allocation methodology and reserve calculations will be updated. These shifts will help reduce the burden on the unmet reserve. The Cost Allocation Study results will be presented to Council in early 2022, which options on how to fully fund the reserve.No Change. Fiscal policies not in compliance will be discussed with Council at the March 8 workshop on the First Quarter Report.73