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FY2022 Quarterly Report
4th Quarter
1
FINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended September 30, 2022
Table of Contents
Executive Summary .......................................................................................................................................... 2
General Fund .................................................................................................................................................... 2
Electric Fund ................................................................................................................................................... 15
Water Services Fund ...................................................................................................................................... 22
Tourism Fund ................................................................................................................................................. 28
Airport Fund ................................................................................................................................................... 31
Stormwater Fund ........................................................................................................................................... 35
Georgetown Transportation Enhancement Corporation Fund ..................................................................... 40
Georgetown Economic Development Corporation Fund .............................................................................. 44
Village PID Fund Schedule .............................................................................................................................. 48
Council Discretionary Fund Schedule ............................................................................................................ 50
Joint Services Fund Schedule ......................................................................................................................... 51
Quarterly Investment Report ‐ City ............................................................................................................... 52
Quarterly Investment Report ‐ GEDCO .......................................................................................................... 74
Quarterly Investment Report ‐ GTEC ............................................................................................................. 81
Grant Applications .......................................................................................................................................... 88
Capital Improvement Projects ....................................................................................................................... 89
Long‐term Commitments and Other Unfunded Liabilities ............................................................................ 93
F FY2021 Quarterly Report
EXECUTIVE SUMMARY FOR THE QUARTER ENDED SEPT. 30, 2022
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. The Fourth Quarter Report
Approved Budget includes Capital Project Roll Forward and Operational Amendments as well as
a 3% salary increase approved by Council in January and March and the mid-year amendment
approved in May. Furthermore, this report compares actuals to budget, the performance of
current actuals to actuals of the same quarter in the previous year, and actuals to projections. Q4
figures are preliminary and unaudited. Staff will complete the annual Audit and will bring back
certified numbers to Council in early 2023.
GENERAL FUND REVENUES:
General Fund revenues total $103,248,435, or 111.64% of budget through the end of the quarter. Revenues are
greater than last year’s same quarter total by $12,572,944, or 13.87%. The City continues to see a strong
performance in revenue, particularly in planning fees, permitting, and sales tax.
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY2021
YTD Actuals:
Q4 FY2022 Variance % of Budget Variance % Variance
Revenue
40001:Property Taxes 17,100,000 15,893,725 16,823,859 (276,141) 98.39% 930,135 5.85%
40002:Sales Taxes 25,033,760 23,895,422 28,335,537 3,301,777 113.19% 4,440,115 18.58%
40005:Franchise Taxes 6,266,830 6,183,295 7,029,731 762,901 112.17% 846,436 13.69%
40008:Other Taxes 420,000 481,489 619,665 199,665 147.54% 138,176 28.70%
41001:Fines 311,150 270,205 274,231 (36,919) 88.13% 4,026 1.49%
41002:Penalties 85,000 104,967 121,636 36,636 143.10% 16,669 15.88%
42001:Interest Income 80,000 81,050 241,536 161,536 301.92% 160,486 198.01%
43001:Fees 8,446,834 7,532,037 9,843,730 1,396,896 116.54% 2,311,693 30.69%
43002:Garbage Charges 10,600,000 10,867,148 11,851,567 1,251,567 111.81% 984,419 9.06%
43003:Permits 5,274,750 4,781,179 5,928,333 653,583 112.39% 1,147,154 23.99%
43004:Administrative Charges 2,725,367 3,392,501 2,723,941 (1,426) 99.95% (668,560) -19.71%
43005:Rental Revenue 54,040 199,449 174,812 120,772 323.49% (24,637) -12.35%
45001:Misc Revenue 855,935 717,891 839,010 (16,925) 98.02% 121,119 16.87%
45002:Insurance Proceeds 50,338 - 50,338 - 100.00% 50,338 0.00%
45003:Misc Reimbursements 15,000 13,521 15,615 615 104.10% 2,094 15.49%
45004:Sale of Property - - 3,400 3,400 0.00% 3,400 0.00%
45005:Gain/Loss on Sale of
Assets - - 77 77 0.00% 77 0.00%
44001:Grant Revenue 185,000 914,494 416,949 231,949 225.38% (497,545) -54.41%
44501:Contribution Revenue - - - - 0.00% - 0.00%
44502:Developer Contributions - 229,682 1,929,900 1,929,900 0.00% 1,700,218 740.25%
44503:Interlocal Agreement
Revenue 5,700,557 5,093,767 5,659,226 (41,331) 99.27% 565,460 11.10%
44504:Donations - 6,238 10,061 10,061 0.00% 3,823 61.29%
70001:Transfers In 410,407 995,302 442,528 32,121 107.83% (552,774) -55.54%
70002:Transfers In - Payment
in Lieu of Taxes (PILOT) 8,871,270 9,022,128 9,912,752 1,041,482 111.74% 890,624 9.87%
Revenue Total 92,486,238 90,675,491 103,248,435 10,762,197 111.64% 12,572,944 13.87%
2
F FY2021 Quarterly Report
Sales tax revenue accounts for $25,033,760 of
General Fund budgeted revenue. Through the
quarter, the City has collected 113.19% of the
budgeted sales tax amount, 28,335,537 year-to-
date. Sales tax data lags two months in arrears.
Sales tax continues to have a strong performance
- the quarterly returns for sales tax were 18.58%
higher compared to the same period last year. This
is the nineteenth month in a row with collections
increases of +8%. 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 amended the budget to account for
an additional 4.5% of sales tax revenue in FY2022,
compared to the original 4.5% increase over prior fiscal year projections. Sales tax is projected to
end the year 19% over 2021 actuals. Sales tax actuals came in at $(138,657), or 99.51% of projections.
Building Materials make up approximately 20% of total sales tax, and this sub-industry is
experiencing supply chain pressures. The impact of inflation on consumer spending is also cause
for caution. Staff continues to monitor sales tax closely because of the potential volatility. During a
March Council Workshop, Council directed staff to use one-time discretionary funds to increase the
Economic Stability Reserve to protect against volatility of sales tax revenue. Staff are also preparing
items to pause in FY2023 while monitoring the local economy.
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 98.39% of budget, or $16,823,859. Year-to-date property
tax revenues are 5.85% greater than the same period last year. During the Truth-in-Taxation
process, properties still under protest are discounted at a standard 60 percent. At the time of
certification, the City had over $371 million in appraised value still under protest. Reductions to
these values after the time of certification can lead to lower than anticipated revenue. Collections
rate are also monitored by the Williamson Central Appraisal District (WCAD) and are factored into
the next year’s Truth-in-Taxation calculation.
The City collects franchise fees for electric, natural gas, cable, and non-cellular telephone services.
Through the quarter, franchise fee revenues total $7,029,731 in FY2022, or 112.17% of budget.
Franchise fee revenue is 13.69% higher than the same quarter of FY2021. While most franchise fees
saw increases from the same quarter of FY2021, the major increases are from electric, water,
garbage and gas franchise fees.
Payment in Lieu of Taxes (PILOT) revenue from City-owned utilities is budgeted at $8,871,270.
Year-to-date, PILOT revenues total $9,912,752, or 111.74% of budget. PILOT revenue is $890,624, or
9.87%, higher than the same quarter of FY2021. While all utility funds PILOT is trending higher than
budget, the major increase for the quarter is from Water and Wastewater. Electric PILOT was
capped at $4.8 million, per Council direction.
K
2.0M
4.0M
6.0M
8.0M
10.0M
12.0M
14.0M
Q1 Q2 Q3 Q4
GENERAL FUND: SALES
TAX
FY2020 FY2021 FY2022
3
F FY2021 Quarterly Report
Planning and Development related revenue continues to be strong in FY2022 due to growth and
adopted increases in fee amounts. Planning and Development has a total revenue budget of
$7,524,000. Through the quarter, planning and development related revenues total $8,744,083 or
116.22% of budget. Permit fees are up 24.38%, or $554,193 compared to the same quarter in FY2021.
Development related permits continue to be strong with year-to-date revenues up 24.11%, or
$1,149,385 compared to year-to-date from FY2021. Staff continues to monitor the amount of
residential and commercial building permits. Staff proposed a mid-year amendment to recognize
additional permitting and planning revenue to support the addition of 3 new positions. This is
reflected in the quarter report. Planning and permitting fees were proposed to be increased in the
FY2023 budget and has since been adopted by Council. FY2023 development revenue and
expenses are being closely monitored for economic impacts.The following 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 $11,851,567, or 111.81% of budget. Sanitation rates increased as part of the FY2022 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 $984,419, or 9.06%. An environmental services cost
of service study is underway, with results planned to be presented in spring 2023.
Fire and EMS total budgeted revenue is $8,155,290. Through the quarter, Fire and EMS fee related
revenue totals $8,584,601, or 105% 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. Various EMS transport fees, and fire and life safety development fees, are proposed
to increase in the FY2023 budget.
Parks and Recreation fee revenue budget totals $2,476,234. Through the quarter, parks and
recreation related fee revenue totals $2,975,423, or 120.16% of budget. Parks and Recreation revenue
is up 40.68% 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. A cost of
service study was completed, and a new model adopted by Council this summer along with the
FY2023 proposed budget.
-
200
400
600
800
1,000
Q1 Q2 Q3 Q4
Residential Building Permits
FY2020 FY2021 FY2022
4
F FY2021 Quarterly Report
FY2022 REVENUE PROJECTIONS:
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY2022 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Revenue
40001:Property Taxes 17,100,000 16,823,859 (276,141) 98.39% 17,131,000 (307,141) 98.21%
40002:Sales Taxes 25,033,760 28,335,537 3,301,777 113.19% 28,474,194 (138,657) 99.51%
40005:Franchise Taxes 6,266,830 7,029,731 762,901 112.17% 6,731,346 298,385 104.43%
40008:Other Taxes 420,000 619,665 199,665 147.54% 563,765 55,900 109.92%
41001:Fines 311,150 274,231 (36,919) 88.13% 276,250 (2,019) 99.27%
41002:Penalties 85,000 121,636 36,636 143.10% 109,165 12,471 111.42%
42001:Interest Income 80,000 241,536 161,536 301.92% 100,000 141,536 241.54%
43001:Fees 8,446,834 9,843,730 1,396,896 116.54% 8,340,896 1,502,834 118.02%
43002:Garbage Charges 10,600,000 11,851,567 1,251,567 111.81% 11,519,176 332,391 102.89%
43003:Permits 5,274,750 5,928,333 653,583 112.39% 5,365,500 562,833 110.49%
43004:Administrative Charges 2,725,367 2,723,941 (1,426) 99.95% 2,725,367 (1,426) 99.95%
43005:Rental Revenue 54,040 174,812 120,772 323.49% 103,147 71,665 169.48%
45001:Misc Revenue 855,935 839,010 (16,925) 98.02% 825,220 13,790 101.67%
45002:Insurance Proceeds 50,338 50,338 - 100.00% 50,338 - 100.00%
45003:Misc Reimbursements 15,000 15,615 615 104.10% 3,000 12,615 520.51%
45004:Sale of Property - 3,400 3,400 0.00% 3,321 79 102.38%
45005:Gain/Loss on Sale of
Assets - 77 77 0.00% - 77 0.00%
44001:Grant Revenue 185,000 416,949 231,949 225.38% 389,840 27,109 106.95%
44501:Contribution Revenue - - - 0.00% 297 (297) 0.00%
44502:Developer Contributions - 1,929,900 1,929,900 0.00% 1,929,130 770 100.04%
44503:Interlocal Agreement
Revenue 5,700,557 5,659,226 (41,331) 99.27% 5,700,557 (41,331) 99.27%
44504:Donations - 10,061 10,061 0.00% - 10,061 0.00%
70001:Transfers In 410,407 442,528 32,121 107.83% 410,407 32,121 107.83%
70002:Transfers In - Payment
in Lieu of Taxes (PILOT) 8,871,270 9,912,752 1,041,482 111.74% 9,278,397 634,355 106.84%
Revenue Total 92,486,238 103,248,435 10,762,197 111.64% 100,030,313 3,218,122 103.22%
Total revenues were projected to end at $100,030,313. Through the quarter, actuals are 103.22% of
total projections.
GENERAL FUND EXPENSES:
Annual expenses through the quarter total $94,440,659, or 92.50% of budget. This is an increase of
15.09% 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, general increases
in expenses compared to the same period last year are due to inflation. Merit and market
adjustments for personnel expenses are also a factor in the increase spending compared to last
year, as well as a 3% city-wide base pay adjustment for salaries approved in March.
Personnel and Operations Summary:
Personnel costs through the quarter total $50,843,833, or 96.90% of personnel budget. Operational
costs total $35,995,395, or 86.41%. 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,
5
F FY2021 Quarterly Report
primarily in the Streets cost center. Additionally, one-time and capital related expenditures are
accounted for in projections, and will be reappropriated as part of the Capital Improvement
Amendment set to go to City Council in early FY2023.
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY2021
YTD Actuals:
Q4 FY2022 Variance % Of Budget Variance % Variance
Expense
Personnel 52,472,361 45,808,334 50,843,833 1,628,528 96.90% (5,035,499) 10.99%
Operations 41,656,377 32,394,476 35,995,395 5,660,982 86.41% (3,600,919) 11.12%
Operating Capital 1,039,116 183,939 670,030 369,086 64.48% (486,091) 264.27%
Transfers 6,931,076 3,673,910 6,931,401 (325) 100.00% (3,257,491) 88.67%
Total Expense 102,098,930 82,060,659 94,440,659 7,658,271 92.50% (12,380,000) 15.09%
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 $1,975,793, or 61.88% of budget.
Savings in the Planning Department are driven by vacancies and timing of one-time expenses for
rewrite of the Unified Development Code and consulting to help with development driven growth.
A new position was added as part of the mid-year budget amendment to help with the
development related workload.
Inspections incurred personnel and operational expenses amounting to $1,748,729, or 86.76% of
budget. Two positions were added for Inspections as part of the mid-year amendment. In addition,
the amendment recognized permit and planning revenue in order to fund the prorated salary,
benefits, and operating costs.
Year-to-date personnel and operational expenditures for Community Services are as follows,
Emergency Management cost center has a total of $288,629, or 87.78% of budget, through the
quarter, Animal Services has reported $1,032,432, which is 82.46% of their budget, Code Compliance
has shown spending of $559,824, or 92.29% of budget.
Environmental Services incurred personnel and operational expenditures amounting to
$9,584,713, or 98.73% of budget.
Public Works personnel and operational expenditures for the quarter totals $1,205,381, which
represents 50.61% of budget. Year-to-date expenditures related to personnel and operations for
Streets totals $3,521,482, 83.02% of budget. The Public Works and Streets budgets include several
large one-time studies that will need to be rolled forward.
6
F FY2021 Quarterly Report
FINANCE ADMINISTRATION DIVISION:
Municipal Court year-to-date expenses total $569,386, or 91.11% of budget. This spending includes
$470,400 for personnel costs and $98,986 for operational costs.
POLICE OPERATIONS DIVISION:
Police Operations saw personnel and operational expenditures through the quarter total
$16,780,476, or 97.31% of budget. Police Administration expenditures through the quarter resulted
in $2,606,297, or 88.76% of budget. This cost center experienced significant vacancy savings
throughout the year. Police overtime came in slightly less than FY2022 projections.
FIRE AND EMS DIVISION:
Year-to-date personnel and operational expenditures through the quarter total $4,556,436, or
97.22% of budget for Fire Support Services/Administration, $16,380,388, or 94.40% of budget for
Fire Emergency Services, and $3,436,136, or 95.20% of budget for Fire EMS.
ADMINISTRATIVE SERVICES DIVISION:
Administrative Services saw operational and personnel costs totaling $2,115,966, or 87.76% of
budget year-to-date. The cost center includes one-time funding for consulting and studies that
were not completed in FY2022 and will be rolled forward.
City Secretary personnel and operational expenditures for the quarter totals $1,073,658, which
represents 86.77% of budget.
Year-to-date personnel and operational expenditures for Communications totals $825,294, which
represents 75.04% of budget. The CAPE department experienced vacancy savings, as well as low
year-to-date spending on a one-time project that will be rolled into FY2023.
Non-Departmental includes a transfer out of $6,931,401, 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. Additionally, this is where the City budgets for various economic development related
incentives. Through the quarter, the City has paid approximately $500 thousand in economic
development related incentives.
LIBRARY, TOURISM, AND ARTS AND CULTURE DIVISION:
Arts and Culture recognized year to date expenses totaling $208,717, or 97.65% of budget. Library
year-to-date expenses total $3,148,350, or 94.59% 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, comes to a total
of $9,281,686, or 92.68% of budget.
7
F FY2021 Quarterly Report
Parks year-to-date through the quarter totals $2,814,368, or 93.62% of budget. Recreation total
expenses are $4,338,993, which is 92.78% of budget. Garey Park year-to-date is $969,796, or 90.30%
of budget. Personnel expenses in recreation are heavily seasonal, and a significant portion of part-
time and temporary salaries are used in the fourth quarter.
8
F FY2021 Quarterly Report
Personnel and Operations Summary by Division:
General Fund
Quarterly Comparison:
Q4 FY22 Budget Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of
Budget
Projections
2022
Variance
Fav/(Unfav)
% of
Projection
Development Services
Personnel 6,574,748 4,966,975 6,046,008 528,739 91.96% 6,423,296 377,288 94.13%
Operations 16,264,752 12,838,617 12,982,800 3,281,952 79.82% 16,154,875 3,172,075 80.36%
Operating Capital 13,400 17,227 45,373 (31,973) 338.60% 35,915 (9,458) 126.33%
Development Services
Total Expense 22,852,900 17,822,818 19,074,181 3,778,719 83.47% 22,614,086 3,539,905 84.35%
Finance Administration
Personnel 513,744 476,716 470,400 43,344 91.56% 476,937 6,537 98.63%
Operations 111,216 78,106 98,986 12,230 89.00% 104,266 5,280 94.94%
Finance Administration
Total Expense 624,960 554,822 569,386 55,574 91.11% 581,203 11,817 97.97%
Police Operations
Personnel 14,632,780 13,227,102 14,400,249 232,531 98.41% 14,616,888 216,639 98.52%
Operations 4,891,425 3,881,552 4,594,710 296,715 93.93% 4,691,322 96,612 97.94%
Operating Capital 655,793 19,368 391,814 263,979 59.75% 526,634 134,820 74.40%
Police Operations Total
Expense 20,179,998 17,128,021 19,386,772 793,225 96.07% 19,834,844 448,072 97.74%
Fire and EMS
Personnel 19,876,437 17,672,086 19,463,815 412,623 97.92% 19,804,548 340,733 98.28%
Operations 5,481,548 4,375,015 4,702,516 779,032 85.79% 5,150,386 447,870 91.30%
Operating Capital 290,575 118,912 206,629 83,946 71.11% 273,887 67,258 75.44%
Fire and EMS Total
Expense 25,648,561 22,166,013 24,372,960 1,275,601 95.03% 25,228,821 855,861 96.61%
Administrative Services,
Arts and Culture
Personnel 1,996,573 2,011,067 2,463,170 (466,597) 123.37% 2,687,340 224,170 91.66%
Operations 8,280,874 6,073,118 7,330,104 950,770 88.52% 9,336,578 2,006,474 78.51%
Operating Capital 53,000 - 1,763 51,237 3.33% 8,700 6,937 20.27%
Transfers 6,931,076 3,673,910 6,931,401 (325) 100.00% 6,931,076 (325) 100.00%
Administrative Services
Total Expense 17,261,523 11,758,095 16,726,438 535,084 96.90% 18,963,693 2,237,255 88.20%
Library
Personnel 2,015,496 1,686,347 1,836,953 178,544 91.14% 1,883,043 46,090 97.55%
Operations 1,292,066 1,004,301 1,298,089 (6,023) 100.47% 1,319,158 21,069 98.40%
Operating Capital 20,845 8,553 13,308 7,537 63.84% 2,800 (10,508) 475.28%
Library Total Expense 3,328,407 2,699,201 3,148,350 180,057 94.59% 3,205,001 56,651 98.23%
Parks and Recreation
Personnel 5,278,869 4,475,473 4,821,537 457,331 91.34% 5,092,904 271,367 94.67%
Operations 4,730,792 3,667,136 4,452,081 278,711 94.11% 4,563,186 111,105 97.57%
Operating Capital 5,503 19,879 8,068 (2,565) 146.60% 8,153 85 98.95%
Parks and Recreation
Total Expense 10,015,164 8,162,487 9,281,686 733,478 92.68% 9,664,244 382,558 96.04%
Community Services
Division
Personnel 1,583,715 1,292,709 1,341,701 242,013 84.72% 1,420,837 79,136 94.43%
Operations 603,703 476,631 536,109 67,595 88.80% 569,481 33,372 94.14%
Operating Capital - - 3,076 (3,076) 0.00% 3,100 24 99.22%
Community Services
Total Expense 2,187,418 1,769,340 1,880,886 306,532 85.99% 1,993,418 112,533 94.35%
General Fund Total 102,098,930 82,060,659 94,440,659 7,658,271 92.50% 102,085,311 7,644,652 92.51%
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F FY2021 Quarterly Report
FY2022 EXPENSE PROJECTIONS:
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY2022 Variance % Of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Expense
Personnel 52,472,361 50,843,833 1,628,528 96.90% 52,405,794 1,561,961 97.02%
Operations 41,656,377 35,995,395 5,660,982 86.41% 41,889,252 5,893,858 85.93%
Operating Capital 1,039,116 670,030 369,086 64.48% 859,189 189,159 77.98%
CIP Expense - - - 0.00% - - 0.00%
Transfers 6,931,076 6,931,401 (325) 100.00% 6,931,076 (325) 100.00%
Debt Service - - - 0.00% - - 0.00%
Total Expense 102,098,930 94,440,659 7,658,271 92.50% 102,085,311 7,644,652 92.51%
Total expenses were projected to end FY2022 at $102,085,311. Through the quarter, actuals expenses
are 92.51% of projections.
Overall, General Fund expenditures are within budget and the fund can cover the 90-day
Contingency Reserve, Economic Stability Reserve, Master Development Fee Reserve (MDF) and the
Benefit Payout Reserve.
As previously mentioned, staff will come back to City Council to roll eligible dollars for capital and
one-time in nature expenses from FY2022 to FY2023.
10
F FY2021 Quarterly Report
Fund Schedule:
General Fund
Period: Sep-22 Budget Current Period FY2022 Year-to-date: Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance Fav/(Unfav) % of Projection
Beginning Fund Balance 29,811,442 29,811,442 -100.00% 29,811,442 - 100.00% Revenue
40001:Property Taxes 17,100,000 832,534 16,823,859 (276,141)98.39% 17,131,000 (307,141) 98.21%
40002:Sales Taxes 25,033,760 7,291,661 28,335,537 3,301,777 113.19% 28,474,194 (138,657) 99.51%40005:Franchise Taxes 6,266,830 724,438 7,029,731 762,901 112.17% 6,731,346 298,385 104.43%40008:Other Taxes 420,000 59,874 619,665 199,665 147.54% 563,765 55,900 109.92%41001:Fines 311,150 22,706 274,231 (36,919) 88.13% 276,250 (2,019) 99.27%41002:Penalties 85,000 10,886 121,636 36,636 143.10% 109,165 12,471 111.42%42001:Interest Income 80,000 48,247 241,536 161,536 301.92% 100,000 141,536 241.54%43001:Fees 8,446,834 1,012,185 9,843,730 1,396,896 116.54% 8,340,896 1,502,834 118.02%43002:Garbage Charges 10,600,000 970,519 11,851,567 1,251,567 111.81% 11,519,176 332,391 102.89%43003:Permits 5,274,750 317,272 5,928,333 653,583 112.39% 5,365,500 562,833 110.49%
43004:Administrative Charges 2,725,367 227,123 2,723,941 (1,426) 99.95% 2,725,367 (1,426) 99.95%
43005:Rental Revenue 54,040 61,734 174,812 120,772 323.49% 103,147 71,665 169.48%
45001:Misc Revenue 855,935 139,902 839,010 (16,925) 98.02% 825,220 13,790 101.67%45002:Insurance Proceeds 50,338 - 50,338 - 100.00% 50,338 - 100.00%45003:Misc Reimbursements 15,000 12,902 15,615 615 104.10% 3,000 12,615 520.51%45004:Sale of Property - - 3,400 3,400 0.00% 3,321 79 102.38%45005:Gain/Loss on Sale of Assets - 77 77 77 0.00% - 77 0.00%44001:Grant Revenue 185,000 4,816 416,949 231,949 225.38% 389,840 27,109 106.95%44501:Contribution Revenue - (3,160) - - 0.00% 297 (297) 0.00%44502:Developer Contributions - - 1,929,900 1,929,900 0.00% 1,929,130 770 100.04%
44503:Interlocal Agreement Revenue 5,700,557 1,323,293 5,659,226 (41,331) 99.27% 5,700,557 (41,331) 99.27%
44504:Donations - 10,025 10,061 10,061 0.00% - 10,061 0.00%
70001:Transfers In 410,407 32,121 442,528 32,121 107.83% 410,407 32,121 107.83%70002:Transfers In - Payment in Lieu of Taxes (PILOT) 8,871,270 203,436 9,912,752 1,041,482 111.74% 9,278,397 634,355 106.84%Revenue Total 92,486,238 13,302,590 103,248,435 10,762,197 111.64% 100,030,313 3,218,122 103.22% Expense
City of Georgetown (Only) - - - - 0.00% - - 0.00%CC0001 Non-Departmental 6,931,076 5,420,441 6,931,401 (325) 100.00% 6,931,076 325 100.00%CC0107 Planning 3,192,796 284,889 1,975,793 1,217,003 61.88% 2,998,449 (1,022,655) 65.89%CC0202 Parks Administration 740,036 71,035 713,700 26,336 96.44% 735,155 (21,454) 97.08%CC0210 Library 3,328,407 355,253 3,148,350 180,057 94.59% 3,205,001 (56,651) 98.23%CC0211 Parks 3,006,299 307,862 2,814,368 191,930 93.62% 2,913,085 (98,717) 96.61%CC0212 Recreation 4,676,882 510,847 4,338,993 337,889 92.78% 4,463,422 (124,429) 97.21%CC0213 Tennis Center 517,995 44,967 444,679 73,316 85.85% 490,433 (45,755) 90.67%
CC0214 Recreation Programs - 149 149 (149) 0.00% - 149 0.00%
CC0215 Garey Park 1,073,952 103,274 969,796 104,156 90.30% 1,062,148 (92,352) 91.31%
CC0218 Arts and Culture 213,742 30,586 208,717 5,026 97.65% 227,062 (18,345) 91.92%CC0316 Municipal Court 624,960 74,065 569,386 55,574 91.11% 581,203 (11,817) 97.97%CC0402 Fire Support Services/Administration 4,686,534 509,427 4,556,436 130,098 97.22% 4,358,924 197,512 104.53%CC0422 Fire Emergency Services 17,352,616 1,841,001 16,380,388 972,228 94.40% 17,367,083 (986,695) 94.32%CC0448 EMS 3,609,411 377,482 3,436,136 173,275 95.20% 3,502,814 (66,678) 98.10%CC0533 Environmental Services 9,707,794 1,004,220 9,582,922 124,872 98.71% 9,763,437 (180,514) 98.15%CC0536 Inspection Services 2,015,592 254,860 1,748,729 266,863 86.76% 1,987,176 (238,447) 88.00%CC0602 Administrative Services 2,410,981 288,800 2,115,966 295,015 87.76% 2,305,675 (189,709) 91.77%
CC0605 Emergency Management 328,805 26,969 288,629 40,176 87.78% 305,810 (17,181) 94.38%
CC0634 City Council Services 208,213 12,704 183,481 24,732 88.12% 203,707 (20,226) 90.07%
CC0635 City Secretary Services 1,237,430 174,778 1,073,658 163,772 86.77% 1,188,931 (115,273) 90.30%CC0638 General Government Contracts 6,473,823 398,406 6,421,933 51,890 99.20% 8,334,305 (1,912,372) 77.05%CC0639 Human Resources - - - - 0.00% 0 (0) 0.00%CC0655 Communications/Public Engagement 1,099,839 104,257 825,294 274,545 75.04% 1,071,673 (246,380) 77.01%CC0702 Police Administration 2,936,293 252,673 2,606,297 329,996 88.76% 2,605,749 547 100.02%CC0742 Police Operations 17,243,705 2,411,456 16,780,476 463,229 97.31% 17,229,095 (448,619) 97.40%CC0744 Animal Services 1,252,023 130,776 1,032,432 219,591 82.46% 1,092,087 (59,654) 94.54%
CC0745 Code Compliance 606,589 76,076 559,824 46,765 92.29% 595,521 (35,697) 94.01%
CC0802 Public Works 2,381,603 182,621 1,211,243 1,170,360 50.86% 2,240,961 (1,029,718) 54.05%
CC0846 Streets 4,241,533 471,517 3,521,482 720,051 83.02% 4,325,329 (803,846) 81.42%Expense Total 102,098,930 15,721,389 94,440,659 7,658,271 92.50% 102,085,311 7,644,652 92.51%
Excess (Deficiency) of Total Revenue over
Total Requirements (9,612,692) (2,418,800) 8,807,776 18,420,467 -91.63% (2,054,999) 10,862,774 -428.60%
Ending Fund Balance 20,198,750 38,619,218 18,420,467 191.20% 27,756,443 10,862,774 139.14%
Reserves MDF Reserve - - 1,700,000 1,700,000 0.00% 1,700,000 - 100.00%Benefit Payout Reserve 340,000 - 340,000 - 100.00% 340,000 - 100.00%
Contingency Reserve 15,917,686 - 15,917,686 - 100.00% 15,917,686 - 100.00%
Economic Stability Reserve 3,850,569 - 3,850,569 - 100.00% 3,850,569 - 100.00%
Reserves Total 20,108,255 - 21,808,255 1,700,000 108.45% 21,808,255 - 100.00% Estimated Operational Roll Forward 3,552,241
Available Fund Balance 90,495 - 13,258,722 13,168,226 14651.27% 5,948,188 7,310,533 222.90%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects.
11
F FY2021 Quarterly Report
Expense by Cost Center:
General Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Planning
Personnel 1,753,308 1,342,756 1,415,032 338,276 80.71% 1,566,836 151,804 90.31%
Operations 1,426,089 406,662 551,895 874,194 38.70% 1,431,613 879,719 38.55%
Operating Capital 13,400 1,052 8,867 4,533 66.17% - (8,867) 0.00%
Planning Total Expense 3,192,796 1,750,470 1,975,793 1,217,003 61.88% 2,998,449 1,022,655 65.89%
Library
Personnel 2,015,496 1,686,347 1,836,953 (150,606) 91.14% 1,883,043 46,090 97.55%
Operations 1,292,066 1,004,301 1,298,089 (293,789) 100.47% 1,319,158 21,069 98.40%
Operating Capital 20,845 8,553 13,308 (4,754) 63.84% 2,800 (10,508) 475.28%
Library Total Expense 3,328,407 2,699,201 3,148,350 (449,149) 94.59% 3,205,001 56,651 98.23%
Parks Administration
Personnel 310,135 280,793 304,694 5,441 98.25% 313,233 8,539 97.27%
Operations 429,901 349,542 429,901 0.00% 421,922 421,922 0.00%
Parks Administration Total
Expense 740,036 630,335 713,700 26,336 96.44% 735,155 21,454 97.08%
Parks
Personnel 1,685,759 1,453,737 1,551,429 134,330 92.03% 1,643,172 91,743 94.42%
Operations 1,315,036 1,129,327 1,256,590 58,447 95.56% 1,263,560 6,970 99.45%
Operating Capital 5,503 - 6,350 (847) 115.38% 6,353 3 99.95%
Parks Total Expense 3,006,299 2,583,064 2,814,368 191,930 93.62% 2,913,085 98,717 96.61%
Recreation
Personnel 2,506,315 1,584,967 2,241,126 265,189 89.42% 2,365,167 124,041 94.76%
Operations 2,170,567 1,150,994 2,097,867 72,700 96.65% 2,098,255 388 99.98%
Operating Capital - 19,968 - - 0.00% - - 0.00%
Recreation Total Expense 4,676,882 2,755,929 4,338,993 337,889 92.78% 4,463,422 124,429 97.21%
Tennis Center
Personnel 269,109 226,269 238,160 30,948 88.50% 258,383 20,223 92.17%
Operations 248,886 160,268 206,518 42,368 82.98% 232,050 25,532 89.00%
Tennis Center Total
Expense 517,995 386,537 444,679 73,316 85.85% 490,433 45,755 90.67%
Recreation Programs
Personnel - 493,066 149 (149) 0.00% - (149) 0.00%
Operations - 455,622 - - 0.00% - - 0.00%
Recreation Programs Total
Expense - 948,688 149 (149) 0.00% - (149) 0.00%
Garey Park
Personnel 507,551 436,640 485,979 21,571 95.75% 512,950 26,970 94.74%
Operations 566,401 421,384 482,099 84,302 85.12% 547,399 65,300 88.07%
Operating Capital - (89) 1,718 (1,718) 0.00% 1,800 82 95.44%
Garey Park Total Expense 1,073,952 857,934 969,796 104,156 90.30% 1,062,148 92,352 91.31%
Arts and Culture
Personnel 73,820 22,108 83,831 (10,011) 113.56% 87,140 3,309 96.20%
Operations 139,922 60,265 124,886 15,036 89.25% 139,922 15,036 89.25%
Transfers 73,820 22,108 83,831 (10,011) 113.56% 87,140 3,309 96.20%
Arts and Culture Total
Expense 213,742 82,372 208,717 5,026 97.65% 227,062 18,345 91.92%
Municipal Court
Personnel 513,744 476,716 470,400 43,344 91.56% 476,937 6,537 98.63%
Operations 111,216 78,106 98,986 12,230 89.00% 104,266 5,280 94.94%
12
F FY2021 Quarterly Report
Municipal Court Total
Expense 624,960 554,822 569,386 55,574 91.11% 581,203 11,817 97.97%
Fire Support
Services/Administration
Personnel 2,912,121 2,370,610 2,776,241 135,879 95.33% 2,547,106 (229,135) 109.00%
Operations 1,736,616 1,380,387 1,753,909 (17,293) 101.00% 1,787,918 34,009 98.10%
Operating Capital 37,797 15,276 26,285 11,512 69.54% 23,900 (2,385) 109.98%
Fire Administration Total
Expense 4,686,534 3,766,273 4,556,436 130,098 97.22% 4,358,924 (197,512) 104.53%
Fire Emergency Services
Personnel 14,376,818 13,163,820 14,150,171 226,647 98.42% 14,745,064 594,893 95.97%
Operations 2,880,995 2,280,147 2,173,117 707,879 75.43% 2,529,032 355,915 85.93%
Operating Capital 94,802 76,244 57,100 37,702 60.23% 92,987 35,887 61.41%
Fire Emergency Services
Total Expense 17,352,616 15,520,210 16,380,388 972,228 94.40% 17,367,083 986,695 94.32%
EMS
Personnel 2,587,499 2,137,655 2,537,402 50,096 98.06% 2,512,378 (25,025) 101.00%
Operations 863,936 714,482 775,490 88,446 89.76% 833,436 57,946 93.05%
Operating Capital 157,976 27,392 123,244 34,732 78.01% 157,000 33,756 78.50%
EMS Total Expense 3,609,411 2,879,530 3,436,136 173,275 95.20% 3,502,814 66,678 98.10%
Inspection Services
Personnel 1,650,876 1,318,950 1,570,810 80,065 95.15% 1,636,584 65,773 95.98%
Operations 364,717 140,908 177,919 186,798 48.78% 350,592 172,673 50.75%
Inspection Services Total
Expense 2,015,592 1,459,857 1,748,729 266,863 86.76% 1,987,176 238,447 88.00%
Administrative Services
Personnel 1,774,187 1,334,303 1,692,812 81,375 95.41% 1,687,476 (5,336) 100.32%
Operations 628,794 360,170 421,390 207,404 67.02% 609,499 188,109 69.14%
Operating Capital 8,000 - 1,763 6,237 22.04% 8,700 6,937 20.27%
Administrative Services
Total Expense 2,410,981 1,694,473 2,115,966 295,015 87.76% 2,305,675 189,709 91.77%
Emergency Management
Personnel 207,145 238,741 185,173 21,972 89.39% 191,006 5,833 96.95%
Operations 121,660 111,880 103,456 18,204 85.04% 114,804 11,348 90.12%
Community Services Total
Expense 328,805 350,621 288,629 40,176 87.78% 305,810 17,181 94.38%
City Secretary
Personnel 699,133 527,909 619,426 79,707 88.60% 653,129 33,703 94.84%
Operations 538,297 453,329 454,232 84,065 84.38% 535,802 81,570 84.78%
City Secretary Total
Expense 1,237,430 981,238 1,073,658 163,772 86.77% 1,188,931 115,273 90.30%
Communications/ Public
Engagement
Personnel 686,756 531,186 641,164 45,593 93.36% 657,657 16,494 97.49%
Operations 413,082 173,447 184,130 228,952 44.57% 414,016 229,886 44.47%
Communications Total
Expense 1,099,839 704,633 825,294 274,545 75.04% 1,071,673 246,380 77.01%
Police Administration
Personnel 700,230 637,301 581,981 118,249 83.11% 525,918 (56,063) 110.66%
Operations 2,236,062 1,727,779 2,024,316 211,747 90.53% 2,079,831 55,516 97.33%
Police Administration Total
Expense 2,936,293 2,365,080 2,606,297 329,996 88.76% 2,605,749 (547) 100.02%
Police Operations
Personnel 13,932,549 12,589,801 13,818,268 114,282 99.18% 14,090,970 272,702 98.06%
Operations 2,655,363 2,153,773 2,570,394 84,968 96.80% 2,611,491 41,097 98.43%
13
F FY2021 Quarterly Report
Operating Capital 655,793 19,368 391,814 263,979 59.75% 526,634 134,820 74.40%
Police Operations Total
Expense 17,243,705 14,762,941 16,780,476 463,229 97.31% 17,229,095 448,619 97.40%
Animal Services
Personnel 881,033 664,371 702,454 178,579 79.73% 748,322 45,868 93.87%
Operations 370,990 270,598 329,978 41,011 88.95% 343,764 13,786 95.99%
Animal Services Total
Expense 1,252,023 934,970 1,032,432 219,591 82.46% 1,092,087 59,654 94.54%
Code Compliance
Personnel 495,536 389,597 454,074 41,462 91.63% 481,509 27,435 94.30%
Operations 111,053 94,153 102,674 8,379 92.46% 110,912 8,238 92.57%
Operating Capital - - 3,076 (3,076) 0.00% 3,100 24 99.22%
Code Compliance Total
Expense 606,589 483,750 559,824 46,765 92.29% 595,521 35,697 94.01%
Public Works
Personnel 766,317 489,619 765,770 547 99.93% 817,129 51,359 93.71%
Operations 1,615,286 871,299 440,701 1,174,585 27.28% 1,418,632 977,931 31.07%
Operating Capital - 4,802 4,772 (4,772) 0.00% 5,200 428 91.76%
Public Works Total
Expense 2,381,603 1,365,719 1,211,243 1,170,360 50.86% 2,240,961 1,029,718 54.05%
Streets
Personnel 1,643,671 1,262,357 1,569,402 74,269 95.48% 1,657,951 88,549 94.66%
Operations 2,597,862 1,598,367 1,920,346 677,516 73.92% 2,636,663 716,317 72.83%
Operating Capital - 11,373 31,734 (31,734) 0.00% 30,715 (1,019) 103.32%
Streets Total Expense 4,241,533 2,872,098 3,521,482 720,051 83.02% 4,325,329 803,846 81.42%
Environmental Services
Operations 9,707,794 9,587,669 9,582,922 124,872 98.71% 9,763,437 180,514 98.15%
Environmental Services
Total Expense 9,707,794 9,587,669 9,582,922 124,872 98.71% 9,763,437 180,514 98.15%
Non-Departmental
Operations - 12,577 - - 0.00% - - 0.00%
Transfers 6,931,076 3,673,910 6,931,401 (325) 100.00% 6,931,076 (325) 100.00%
Non-Departmental Total
Expense 6,931,076 3,686,487 6,931,401 (325) 100.00% 6,931,076 (325) 100.00%
General Government
Contracts
Personnel (642,460) - - (642,460) 0.00% 185,528 185,528 0.00%
Operations 7,071,283 5,211,164 6,421,933 649,350 90.82% 8,148,777 1,726,844 78.81%
Operating Capital 45,000 - - 45,000 0.00% - - 0.00%
General Government
Contracts Total Expense 6,473,823 5,211,164 6,421,933 51,890 99.20% 8,334,305 1,912,372 77.05%
City Council Services
Personnel 165,713 148,855 150,932 14,781 91.08% 161,207 10,275 93.63%
Operations 42,500 35,878 32,549 9,951 76.59% 42,500 9,951 76.59%
City Council Services Total
Expense 208,213 184,733 183,481 24,732 88.12% 203,707 20,226 90.07%
Transportation Planning
General Fund Total
Expense 102,098,930 82,060,659 94,440,659 7,658,271 92.50% 102,085,311 7,644,652 92.51%
14
UTILITY FUNDS:
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. Based on the updated water master plan and water cost of service study, Council is in
adopted the FY2023 budget, which includes water and wastewater rate increases. Electric cost of
service study is ongoing.
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 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.
ELECTRIC REVENUE:
Operating revenue in the Electric Fund totals
$106,920,524 through the quarter, or 103.26% of
budget. Electric sales revenue, the largest
component of operating revenue, has brought in
$86,877,653 through the quarter, totaling 101.56%
of Electric charges budget. Compared to last year,
consumption decreased in the first quarter, and
increased in the second, third and fourth quarters.
Electric Sales revenue are typically higher in the
summer months when consumption increases
due to hot weather. June and July were very hot
and dry. Through the fiscal year, Electric sales
charges were 7.35% higher than the same period
last year.
While reviewing consumption and billing data, staff found errors in billing for two large accounts.
First, the City’s water utility was not charged for demand for the Lake Water Treatment Plant due
to the wrong rate being applied in the billing system. The back billing for this account was
approximately $600,000 and was posted to August revenue. Second, the Southwestern University
master meter suffered a lightning strike which caused only partial reads. The back billing for this
account was approximately $900,000 and was posted in September 2022. Customer Care, Finance,
and Utility staff are engaged in the current project to upgrade the utility billing software, looking
for improvements in processes, controls, and reporting to mitigate these types of errors in the
future. Additionally, the team is soliciting an external firm to review processes, controls, reporting,
org structure and staff workload in utility billing and recommend improvements.
K
5.0M
10.0M
15.0M
20.0M
25.0M
30.0M
Q1 Q2 Q3 Q4
Electric Fund: Electric
Sales Charges
FY2020 FY2021 FY2022
15
Developer contributions were budgeted at $12,000,000. Year-to-date collection totals $10,845,198,
or 90.38% of budget. While there is an increase in revenue compared to prior years, 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 amendments
were brought to Council in May as part of the mid-year budget amendment. Line extension fees
were increased to recover costs.
For FY2022, Renewable Energy Credit (REC) revenue has been reclassified from non-operating
revenue to operating revenue. Within the Fee category, the REC revenue budget is $1,160,000. REC
sales total $3,768,963, or 324.91% of budget through the quarter. Market Pricing of RECs continued
to be favorable for the City.
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Revenue
40002:Sales Taxes 5,000 5,863 6,870 1,870 137.39% 1,007 17.18%
41002:Penalties 600,000 848,000 838,168 238,168 139.69% (9,832) -1.16%
42001:Interest Income 11,000 33,570 268,850 257,850 2444.09% 235,280 700.86%
43001:Fees 1,851,000 1,036,657 4,544,074 2,693,074 245.49% 3,507,417 338.34%
43004:Administrative
Charges 3,539,712 3,222,103 3,539,712 - 100.00% 317,609 9.86%
43601:Electric Sales Charges 85,541,593 80,933,053 86,877,653 1,336,060 101.56% 5,944,599 7.35%
44502:Developer
Contributions 12,000,000 7,828,988 10,845,198 (1,154,802) 90.38% 3,016,211 38.53%
70001:Transfers In - 1,562,058 - - 0.00% (1,562,058) -100.00%
Operating Revenue Total 103,548,305 95,470,292 106,920,524 3,372,219 103.26% 11,450,233 11.99%
Non-Operating Revenue
45001:Misc Revenue 35,000 523,214 194,805 159,805 556.59% (328,409) -62.77%
45003:Misc
Reimbursements - - 5,475 5,475 0.00% 5,475 0.00%
45004:Sale of Property 665,840 4,127,598 92,876 (572,964) 13.95% (4,034,721) -97.75%
44001:Grant Revenue - - 339,612 339,612 0.00% 339,612 0.00%
46001:Bond Proceeds 19,461,500 54,065,000 17,995,000 (1,466,500) 92.46% (36,070,000) -66.72%
46002:Bond Premium - 652,424 1,644,584 1,644,584 0.00% 992,159 152.07%
Non-Operating Revenue Total 20,162,340 59,368,236 20,272,352 110,012 100.55% (39,095,885) -65.85%
Revenue Total 123,710,645 154,838,528 127,192,876 3,482,231 102.81% (27,645,652) -17.85%
The budget for non-operating revenue totals $20,162,340 in FY2022. The City recognized bond
proceeds as part of the annual debt sale in the spring to cover the costs of capital infrastructure
and equipment. The large variance in bond proceeds between 2021 and 2022 is related to the
financing of the extreme energy costs from Winter Storm Uri in 2021. The large variances in Fees
and Sale of Property are due to the reclassification of REC revenue from non-operating to operating.
The $665,840 Sale of Property budget is for the third segment of the fiber asset transition from the
Electric Fund to the Information Technology Fund. This asset transfer is reflected on the budget
statements and will also be reflected in the actuals on the year-end accounting statements. With
2021 year-end savings in the Information Technology Fund, the fourth and final multi-year segment
16
was transferred in FY2022. This early completion of the project will alleviate budget pressures in
the FY2023 Information Technology cost allocation to other funds.
FY2021 REVENUE PROJECTIONS:
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % Variance Projections
FY2022
Variance
Fav/(Unfav)
% of
Projections
Operating Revenues
40002:Sales Taxes 5,000 6,870 1,870 137.39% 5,000 1,870 137.39%
41002:Penalties 600,000 838,168 238,168 139.69% 700,000 138,168 119.74%
42001:Interest Income 11,000 268,850 257,850 2444.09% 66,000 202,850 407.35%
43001:Fees 1,851,000 4,544,074 2,693,074 245.49% 3,623,725 920,349 125.40%
43003:Permits - - - 0.00% 55,000 (55,000) 0.00%
43004:Administrative
Charges 3,539,712 3,539,712 - 100.00% 3,539,712 - 100.00%
43601:Electric Sales Charges 85,541,593 86,877,653 1,336,060 101.56% 86,946,485 (68,832) 99.92%
44502:Developer
Contributions 12,000,000 10,845,198 (1,154,802) 90.38% 12,000,000 (1,154,802) 90.38%
70001:Transfers In - - - 0.00% - - 0.00%
Operating Revenue Total 103,548,305 106,920,524 3,372,219 103.26% 106,935,922 (15,398) 99.99%
Non-Operating Revenues
45001:Misc Revenue 35,000 194,805 159,805 556.59% 200,000 (5,195) 97.40%
45003:Misc
Reimbursements - 5,475 5,475 0.00% 750 4,725 729.96%
45004:Sale of Property 665,840 92,876 (572,964) 13.95% 52,330 40,546 177.48%
44001:Grant Revenue - 339,612 339,612 0.00% 352,313 (12,701) 96.39%
46001:Bond Proceeds 19,461,500 17,995,000 (1,466,500) 92.46% 17,995,000 - 100.00%
46002:Bond Premium - 1,644,584 1,644,584 0.00% 1,644,538 46 100.00%
Non-Operating Revenue Total 20,162,340 20,272,352 110,012 100.55% 20,244,931 27,421 100.14%
Revenue Total 123,710,645 127,192,876 3,482,231 102.81% 127,180,853 12,023 100.01%
Total revenues were projected to end FY2022 at $127,180,853. Through the quarter, actuals are
$127,192,876 or 100.01% of total projections. Within the Fees category, REC revenue and Pole
Attachment fees are both significantly over projections. Developer Contributions are under
projections. Interest earnings also improved due to rate increases in later quarters.
ELECTRIC EXPENSES:
Operating expenses in the Electric Fund total $92,641,636 through the quarter. Year-to-date
purchase power expenses total $64,753,349, while Net congestion revenue rights (CRRs) credits
total $484,027.
The City continued to use a hedging strategy for the winter and summer months to avoid price
spikes in the market. June and July were very hot. In the month of June, customer energy
purchases(adjusted meter load) was 17% higher than June of 2021. July customer energy
purchases(adjusted meter load) was 25% over the same month the prior year. FY2022 total
customer energy purchases (adjusted meter load) is an increase of 8.7% over 2021, and 9% over the
budgetfor FY2022. The fourth quarter report includes both increased revenues from power sales
and increased expenses from power purchases and conservative hedging in July and August.
17
Due to the increased power purchases required to meet load and the robust hedging strategy,
purchased power expenses are $10.6 million over the budget of $54.5M, and $7.7M over the
projection of $57 million. the $7.7 million over projection power expense, is due to a combination
of the following factors : increased customer energy purchases(adjusted meter load) ), increases in
Ancillary Services costs due to ERCOT conservative operations, the steep increase in Natural Gas
prices due to global conditions and additional hedging activities in late summer. The hedging
strategy is like an insurance policy. The City pays a premium in expense to avoid risk exposure to
significant market volatility.
During FY2022, the Electric Department transitioned to an outsourced warehouse services contract
with Texas Electric Cooperatives (TEC). This transition included the purchase of $1.5M of City-owned
electric inventory by TEC. This transaction will post to the Electric Fund balance sheet as a decrease
to inventory and an increase to cash. Approximately $114K in obsolete inventory is expensed. This is
posted to this fund schedule under CC0557 Electrical Engineering, Miscellaneous Expense.
Electric Engineering and Transmission and Distribution (T&D) cost centers look inflated due to the
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.
In the Non-Departmental Cost Center, the expense for bad debt was lower than budgeted due to
improved collections practices and changes to disconnects for non-payment.
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
CC0001 Non-Departmental 6,963,362 6,609,740 6,182,472 780,890 88.79% 427,267 -6.46%
CC0317 Purchasing - 2,021 - - 0.00% 2,021 -100.00%
CC0521 Operational
Technology 1,276,176 670,962 1,084,791 191,386 85.00% (413,829) 61.68%
CC0522 Electric
Administration 9,825,545 8,868,267 9,809,523 16,023 99.84% (941,255) 10.61%
CC0523 Electric Safety and
Employee Development 268,825 - 288,789 (19,964) 107.43% (288,789) 0.00%
CC0524 Metering Services 1,964,459 1,939,497 1,725,432 239,026 87.83% 214,065 -11.04%
CC0525 T&D Services 1,975,555 4,185,597 4,021,384 (2,045,829) 203.56% 164,213 -3.92%
CC0537 Electric Resource
Management 55,493,445 110,515,572 65,577,008 (10,083,563) 118.17% 44,938,565 -40.66%
CC0555 Electric Systems
Operations 1,926,520 1,579,253 1,974,273 (47,753) 102.48% (395,021) 25.01%
CC0557 Electrical
Engineering 644,339 1,070,057 1,977,964 (1,333,625) 306.98% (907,907) 84.85%
Operating Expense Total 80,338,226 135,440,965 92,641,636 (12,303,410) 115.31% 42,799,329 -31.60%
Non-Operating Expense
CC0001 Non-Departmental 10,097,271 4,298,971 9,914,375 182,896 98.19% (5,615,404) 130.62%
CC0557 Electrical
Engineering 25,026,230 3,386,145 7,815,946 17,210,284 31.23% (4,429,801) 130.82%
Non-Operating Expense Total 35,123,501 17,730,321 17,393,180 50.48%
Expense Total 115,461,727 143,126,081 110,371,957 5,089,770 95.59% 32,754,124 -22.88%
18
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. The year-over-year variance in purchased
power is due to the 2021 extreme energy costs of Winter Storm Uri.
Non-operating expenditures are budgeted at $35,123,501 in FY2022. Budgeted non-operating
expenditures include $25,026,230 for capital projects and $10,097,271 for debt service payments,
both of which typically trend towards later quarters. The FY2022 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. In order to keep up with new development CIP related projects,
staff proposed to amend the Electric CIP budget as part of the mid-year budget amendment. This
amendment includes an 80% offset in developer contribution revenue as well as bond proceeds to
fund the new development projects. As previously mentioned, a significant portion of labor
expenses for capital projects will be capitalized at the end of the fiscal year, bringing operations and
capital expense in balance with their budgets.
FY2022 EXPENSE PROJECTIONS:
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
2022
Variance
Fav/(Unfav)
% of
Projections
Operating Expense
CC0001 Non-Departmental 6,963,362 6,182,472 780,890 88.79% 6,963,362 780,890 88.79%
CC0317 Purchasing - - - 0.00% - - 0.00%
CC0521 Operational
Technology 1,276,176 1,084,791 191,386 85.00% 1,151,964 67,174 94.17%
CC0522 Electric
Administration 9,825,545 9,809,523 16,023 99.84% 9,857,150 47,627 99.52%
CC0523 Electric Safety and
Employee Development 268,825 288,789 (19,964) 107.43% 368,935 80,146 78.28%
CC0524 Metering Services 1,964,459 1,725,432 239,026 87.83% 1,814,377 88,944 95.10%
CC0525 T&D Services 1,975,555 4,021,384 (2,045,829) 203.56% 2,180,115 (1,841,269) 184.46%
CC0537 Electric Resource
Management 55,493,445 65,577,008 (10,083,563) 118.17% 58,493,456 (7,083,552) 112.11%
CC0555 Electric Systems
Operations 1,926,520 1,974,273 (47,753)102.48% 1,841,136 (133,137) 107.23%
CC0557 Electrical
Engineering 644,339 1,977,964 (1,333,625) 306.98% 1,107,635 (870,329) 178.58%
Operating Expense Total 80,338,226 92,641,636 (12,303,410) 115.31% 83,778,129 (8,863,506) 110.58%
Non-Operating Expense
CC0001 Non-Departmental 10,097,271 9,914,375 182,896 98.19% 10,097,271 182,896 98.19%
CC0557 Electrical
Engineering 25,026,230 7,815,946 17,210,284 31.23% 25,026,230 17,210,284 31.23%
Non-Operating Expense Total 35,123,501 17,730,321 17,393,180 50.48% 35,123,501 17,393,180 50.48%
Expense Total 115,461,727 110,371,957 5,089,770 95.59% 118,901,630 8,529,673 92.83%
Total expenses were projected to end FY2022 at $118,901,630. Through the quarter, actual expenses
are $110,371,957 or, 92.83% of total projections.
19
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 $8,930,396, reserve for transformer of $4,262,947, as well as a rate
stabilization reserve in the amount of $18,600,000. However, a majority of the actual available
ending fund balance will be needed in the FY2023 Roll Forward Budget Amendment for capital
improvement projects still in process. For FY2023, the City will continue to review Electric cost of
service in light of increased capital costs, potential changes in net metering, potential changes in
the ERCOT market design, and updated timelines to new industrial loads.
20
Fund Schedule:
Electric Services
Period: Sep-22 Budget Current Period FY2022 FY2022 Year-to-date: Budget Vs. Actuals FY2022 Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance Fav/(Unfav) % of Projection
Beginning Fund Balance 39,711,400 39,711,400 - 100.00% 39,711,400 - 100.00%
Operating Revenue
40002:Sales Taxes 5,000 743 6,870 1,870 137.39% 5,000 1,870 137.39%41002:Penalties 600,000 100,454 838,168 238,168 139.69% 700,000 138,168 119.74%
42001:Interest Income 11,000 71,804 268,850 257,850 2444.09% 66,000 202,850 407.35%43001:Fees 1,851,000 1,210,715 4,544,074 2,693,074 245.49% 3,623,725 920,349 125.40%43003:Permits - - - - 0.00% 55,000 (55,000) 0.00%
43004:Administrative Charges 3,539,712 884,928 3,539,712 - 100.00% 3,539,712 - 100.00%43601:Electric Sales Charges 85,541,593 8,629,262 86,877,653 1,336,060 101.56% 86,946,485 (68,832) 99.92%44502:Developer
Contributions 12,000,000 561,075 10,845,198 (1,154,802) 90.38% 12,000,000 (1,154,802) 90.38%
70001:Transfers In - - - - 0.00% - - 0.00%
Total Operating Revenue 103,548,305 11,458,981 106,920,524 3,372,219 103.26% 106,935,922 (15,398) 99.99%
Operating Expense
CC0001 Non-Departmental 6,963,362 - 6,182,472 780,890 88.79% 6,963,362 780,890 88.79%CC0317 Purchasing - - - - 0.00% - - 0.00%CC0521 Operational
Technology 1,276,176 170,064 1,084,791 191,386 85.00% 1,151,964 67,174 94.17%
CC0522 Electric Administration 9,825,545 1,010,860 9,809,523 16,023 99.84% 9,857,150 47,627 99.52%
CC0523 Electric Safety and
Employee Development 268,825 43,401 288,789 (19,964) 107.43% 368,935 80,146 78.28%CC0524 Metering Services 1,964,459 129,151 1,725,432 239,026 87.83% 1,814,377 88,944 95.10%
CC0525 T&D Services 1,975,555 424,427 4,021,384 (2,045,829) 203.56% 2,180,115 (1,841,269) 184.46%
CC0528 Water Distribution - (4,752) - - 0.00% - - 0.00%CC0537 Electric Resource Management 55,493,445 5,281,156 65,577,008 (10,083,563) 118.17% 58,493,456 (7,083,552) 112.11%
CC0555 Electric Systems Operations 1,926,520 478,778 1,974,273 (47,753) 102.48% 1,841,136 (133,137) 107.23%CC0557 Electrical Engineering 644,339 297,973 1,977,964 (1,333,625) 306.98% 1,107,635 (870,329) 178.58%
Total Operating Expense 80,338,226 7,831,060 92,641,636 (12,303,410) 115.31% 83,778,129 (8,863,506) 110.58%
Net Operations Total 23,210,079 14,278,889 15,675,629 61.52% 23,157,793 (8,878,904) 61.66%
Non-Operating Revenue 45001:Misc Revenue 35,000 18,546 194,805 159,805 556.59% 200,000 (5,195) 97.40%
45003:Misc Reimbursements - - 5,475 5,475 0.00% 750 4,725 729.96%
45004:Sale of Property 665,840 17,451 92,876 (572,964) 13.95% 52,330 40,546 177.48%44001:Grant Revenue - - 339,612 339,612 0.00% 352,313 (12,701) 96.39%
46001:Bond Proceeds 19,461,500 - 17,995,000 (1,466,500) 92.46% 17,995,000 - 100.00%
46002:Bond Premium - - 1,644,584 1,644,584 0.00% 1,644,538 46 100.00%Total Non-Operating Revenue 20,162,340 35,997 20,272,352 110,012 100.55% 20,244,931 27,421 100.14%
Non-Operating Expense
CC0001 Non-Departmental 10,097,271 - 9,914,375 182,896 98.19% 10,097,271 182,896 98.19%
CC0557 Electrical Engineering 25,026,230 1,470,242 7,815,946 17,210,284 31.23% 25,026,230 17,210,284 31.23%
Total Non-Operating Expense 35,123,501 1,470,242 17,730,321 17,393,180 50.48% 35,123,501 17,393,180 50.48%
Excess (Deficiency) of Total
Revenue over Total Requirements 8,248,918 2,193,676 16,820,919 8,572,002 203.92% 8,279,223 8,541,696 203.17%
Ending Fund Balance 47,960,318 56,532,319 8,572,002 117.87% 47,990,623 8,541,696 117.80%
Reserves
Rate Stabilization 18,600,000 18,600,000 - 100.00% 18,600,000 - 100.00%
Non-Operating Reserve 8,930,396 8,930,396 - 100.00% 8,930,396 - 100.00%Operating Contingency
Reserve 6,426,561 6,426,561 - 100.00% 6,426,561 - 100.00%
Transformer Reserve 4,262,947 4,262,947 - 100.00% 4,262,947 - 100.00%Reserves Total 38,219,904 38,219,904 - 100.00% 38,219,904 - 100.00%
Estimated Operational Roll
Forward 13,643,887
Available Fund Balance 9,740,414 4,668,528 (5,071,885) 47.93% 9,770,719 (5,102,191) 47.78%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January Amendment.
These include multi-year capital projects, one-time equipment ordered but not received, and other special projects.
21
F
FY2021 Quarterly Report
FY2021 Quarterly Report
Water Fund:
WATER REVENUE:
Year-to-date Operating revenue totals $126,884,348, or 133.64% 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 $47,300,096, which is 131.03% of budget. Year-to-date,
Wastewater Charges are $17,008,845, or 117.30% of budget. Irrigation Charges total $533,351 for
the quarter, or 177.78% 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. Additionally, June and July were very hot and dry.
The budget for Impact Fees for the fiscal year is $34,345,000. Through the quarter, impact fee
revenues total $46,909,832, or 136.58% 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 impact fee eligible projects.
Water
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Revenue
41002:Penalties 315,000 513,447 690,755 375,755 219.29% 177,307 34.53%
42001:Interest Income 390,000 445,500 2,501,288 2,111,288 641.36% 2,055,787 461.46%
43001:Fees 8,062,000 9,598,958 9,450,416 1,388,416 117.22% (148,542) -1.55%
43005:Rental Revenue 50,000 112,975 118,371 68,371 236.74% 5,396 4.78%
43602:Water Charges 36,100,000 41,143,198 47,350,048 11,250,048 131.16% 6,206,850 15.09%
43603:Wastewater
Charges 14,500,000 15,125,001 17,008,845 2,508,845 117.30% 1,883,844 12.46%
43604:Irrigation Charges 300,000 360,002 533,351 233,351 177.78% 173,349 48.15%
41602:Impact Fees 34,345,000 40,034,496 46,909,832 12,564,832 136.58% 6,875,336 17.17%
44502:Developer
Contributions 767,240 1,490,202 613,072 (154,168) 79.91% (877,130) -58.86%
70001:Transfers In 115,000 - 1,708,369 1,593,369 1485.54% 1,708,369 0.00%
Operating Revenue Total 94,944,240 108,823,780 126,884,348 31,940,108 133.64% 18,060,568 16.60%
Non-Operating Revenue
45001:Misc Revenue 1,462,000 1,385,446 1,537,630 75,630 105.17% 152,184 10.98%
45003:Misc - 10,422 113 113 0.00% (10,309) -98.92%
K
5.0M
10.0M
15.0M
20.0M
25.0M
FY2020 FY2021 FY2022 FY2020 FY2021 FY2022 FY2020 FY2021 FY2022 FY2020 FY2021 FY2022
Q1 Q2 Q3 Q4
WATER FUND: CHARGES FOR SERVICES
Irrigation
Wastewater
Water
22
F
FY2021 Quarterly Report
FY2021 Quarterly Report
Reimbursements
45004:Sale of Property - 1,330,463 - - 0.00% (1,330,463) -100.00%
44001:Grant Revenue - - 304,745 304,745 0.00% 304,745 0.00%
46001:Bond Proceeds 213,100,000 14,975,000 202,385,000 (10,715,000) 94.97% 187,410,000 1251.49%
46002:Bond Premium - 1,415,140 12,759,165 12,759,165 0.00% 11,344,025 801.62%
Non-Operating Revenue
Total 214,562,000 19,116,469 216,986,652 2,424,652 101.13% 197,870,183 1035.08%
Revenue Total 309,506,240 127,940,250 343,871,000 34,364,760 111.10% 215,930,750 168.77%
Total Water Fund operating revenue is up
16.60% compared to the same period last fiscal
year due to growth in sales and collections in
impact fees. Through the quarter water
consumption is up 14% compared to the same
period of FY2021.
The budget for non-operating revenue totals
$214,562,000 in FY2022. This total includes
bond proceeds for capital projects in the
amount of $213,100,000. The majority of this is
for the Southlake Treatment Plant, one of the
largest capital projects the city has ever
constructed.
Staff and the consultant presented on the
preliminary results of Phase II of a cost-of-service study at the February 22nd and June 28th council
workshop. 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.
These changes were adopted in the FY2023 budget, including an 11.5% rate increase across all
customer classes effective as of October 1, 2022.
K
200K
400K
600K
800K
1.0M
1.2M
WATER FUND:
CONSUMPTION (KGALS)
FY2020 FY2021 FY2022
23
F
FY2021 Quarterly Report
FY2021 Quarterly Report
FY2022 REVENUE PROJECTIONS:
Water
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projections
Operating Revenue
41002:Penalties 315,000 690,755 375,755 219.29% 566,000 124,755 122.04%
42001:Interest Income 390,000 2,501,288 2,111,288 641.36% 420,100 2,081,188 595.40%
43001:Fees 8,062,000 9,450,416 1,388,416 117.22% 9,104,281 346,135 103.80%
43005:Rental Revenue 50,000 118,371 68,371 236.74% 70,000 48,371 169.10%
43602:Water Charges 36,100,000 47,350,048 11,250,048 131.16% 41,100,000 6,250,048 115.21%
43603:Wastewater Charges 14,500,000 17,008,845 2,508,845 117.30% 15,800,000 1,208,845 107.65%
43604:Irrigation Charges 300,000 533,351 233,351 177.78% 450,000 83,351 118.52%
41602:Impact Fees 34,345,000 46,909,832 12,564,832 136.58% 42,300,051 4,609,781 110.90%
44502:Developer
Contributions 767,240 613,072 (154,168) 79.91% 550,000 63,072 111.47%
70001:Transfers In 115,000 1,708,369 1,593,369 1485.54% 115,000 1,593,369 1485.54%
Operating Revenue Total 94,944,240 126,884,348 31,940,108 133.64% 110,475,432 16,408,916 114.85%
Non-Operating Revenue
45001:Misc Revenue 1,462,000 1,537,630 75,630 105.17% 1,367,500 170,130 112.44%
45003:Misc
Reimbursements - 113 113 0.00% 233 (121) 48.28%
45004:Sale of Property - - - 0.00% - - 0.00%
44001:Grant Revenue - 304,745 304,745 0.00% 20,124 284,621 1514.34%
46001:Bond Proceeds 213,100,000 202,385,000 (10,715,000) 94.97% 202,385,000 - 100.00%
46002:Bond Premium - 12,759,165 12,759,165 0.00% 12,759,164 1 100.00%
Non-Operating Revenue Total 214,562,000 216,986,652 2,424,652 101.13% 216,532,021 454,631 100.21%
Revenue Total 309,506,240 343,871,000 34,364,760 111.10% 327,007,453 16,863,547 105.16%
Due to a prolonged, hot and dry summer, sales revenues exceed projections. Total revenues were
projected to end FY2022 at $327,007,453. Through the quarter, actuals are 105.16% of total
projections.
WATER EXPENSES:
Operating expenditures in the Water Fund total $56,427,953 through the quarter, or 97.61% of
budget. Operating expenditures in FY2022 are 30.75% greater than the same period in FY2021.
Overall, personnel expenses were under budget due to vacancies which helped to offset the
increased cost of chemicals, sludge hauling costs, and repair and maintenance of aging
mechanical equipment. Wastewater Plant Management also exceeded budget due to running
the plants at peak demand for a prolonged period of time during hot weather. The BRA contract
costs were $700,000 over budget due to increased electric rates for BRA operations
24
F
FY2021 Quarterly Report
FY2021 Quarterly Report
Water Services Financial Report
Quarterly Comparison: Q4 FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
CC0001 Non-Departmental 5,069,426 5,131,684 5,719,488 (650,062) 112.82% (587,805) 11.45%
CC0524 Metering Services - - 10,273 (10,273) 0.00% (10,273) 0.00%
CC0526 Systems Engineering - (1,836,056) - - 0.00% (1,836,056) -100.00%
CC0527 Water Services
Administration 31,392,009 24,491,296 29,665,861 1,726,147 94.50% (5,174,565) 21.13%
CC0528 Water Distribution 4,315,196 3,176,051 4,995,810 (680,614) 115.77% (1,819,759) 57.30%
CC0529 Water Plant
Management 5,172,213 3,479,406 4,449,761 722,452 86.03% (970,355) 27.89%
CC0530 Wastewater
Operations 1,179,469 547,171 1,197,756 (18,287) 101.55% (650,584) 118.90%
CC0531 Wastewater Plant
Management 4,466,888 3,516,184 4,732,836 (265,948) 105.95% (1,216,652) 34.60%
CC0532 Irrigation Operations 295,000 139,285 224,688 70,312 76.17% (85,403) 61.32%
CC0535 Water Conservation 899,565 - 554,140 345,425 61.60% (554,140) 0.00%
CC0553 Water Operations 5,020,694 4,377,488 4,877,340 143,354 97.14% (499,852) 11.42%
Operating Expense Total 57,810,460 43,022,509 56,427,953 1,382,506 97.61% (13,405,444)31.16%
Non-Operating Expense
CC0001 Non-Departmental 2,000,000 92,665 2,053,331 (53,331) 102.67% (1,960,666) 2115.86%
CC0526 Systems Engineering 334,197,307 13,892,008 28,171,971 306,025,336 8.43% (14,279,963) 102.79%
CC0532 Irrigation Operations 308,000 121,994 120,779 187,221 39.21% 1,215 -1.00%
CC0530 Wastewater
Operations 2,803,196 3,160,381 3,127,605 (324,409) 111.57% 32,776 -1.04%
CC0528 Water Distribution - 781,316 - - 0.00% 781,316 -100.00%
CC0553 Water Operations 12,995,563 11,704,343 5,249,670 7,745,892 40.40% 6,454,673 -55.15%
CC0524 Metering Services 2,250,000 - - 2,250,000 0.00% - 0.00%
Non-Operating Expense Total 354,554,065 29,752,707 38,723,356 315,830,709 10.92% (8,970,650)30.15%
Expense 412,364,525 72,775,216 95,151,310 317,213,215 30.00% (22,376,094)30.75%
Non-operating expense are budgeted at $354,554,065 in FY2022. Expenses total $38,723,356 or
10.92% of budget through the quarter. The majority of the non-operating expense funds were
dedicated to construction of capital improvement projects which were not completed in FY2022.
These funds will be re-appropriated in FY2023 as the treatment plant, distribution, metering and
weather resiliency projects will take multiple years to complete. Debt payments were made in
February for interest. Principal payments are reflected in the fourth quarter report.FY2022
EXPENSE PROJECTIONS:
Water Services Financial Report
Quarterly Comparison: Q4 FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals FY2022 Year-to-date Vs. Projections
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Expense
CC0001 Non-Departmental 5,069,426 5,719,488 (650,062) 112.82% 5,450,304 (269,184) 104.94%
CC0524 Metering Services - 10,273 (10,273) 0.00% - (10,273) 0.00%
CC0526 Systems Engineering - - - 0.00% - - 0.00%
CC0527 Water Services
Administration 31,392,009 29,665,861 1,726,147 94.50% 30,968,610 1,302,748 95.79%
CC0528 Water Distribution 4,315,196 4,995,810 (680,614)115.77% 3,965,999 (1,029,812) 125.97%
CC0529 Water Plant
Management 5,172,213 4,449,761 722,452 86.03% 5,886,314 1,436,553 75.60%
25
F
FY2021 Quarterly Report
FY2021 Quarterly Report
CC0530 Wastewater
Operations 1,179,469 1,197,756 (18,287) 101.55% 1,040,298 (157,458) 115.14%
CC0531 Wastewater Plant
Management 4,466,888 4,732,836 (265,948) 105.95% 4,920,815 187,979 96.18%
CC0532 Irrigation Operations 295,000 224,688 70,312 76.17% 209,067 (15,621) 107.47%
CC0535 Water Conservation 899,565 554,140 345,425 61.60% 701,199 147,059 79.03%
CC0553 Water Operations 5,020,694 4,877,340 143,354 97.14% 4,891,348 14,007 99.71%
Operating Expense Total 57,810,460 56,427,953 1,382,506 97.61% 58,033,952 1,605,999 97.23%
Non-Operating Expense
CC0001 Non-Departmental 2,000,000 2,053,331 (53,331) 102.67% 2,058,203 4,872 99.76%
CC0526 Systems Engineering 334,197,307 28,171,971 306,025,336 8.43% 331,805,749 303,633,777 8.49%
CC0532 Irrigation Operations 308,000 120,779 187,221 39.21% 308,000 187,221 39.21%
CC0530 Wastewater
Operations 2,803,196 3,127,605 (324,409) 111.57% 2,803,196 (324,409) 111.57%
CC0528 Water Distribution - - - 0.00% - - 0.00%
CC0553 Water Operations 12,995,563 5,249,670 7,745,892 40.40% 15,387,371 10,137,701 34.12%
CC0524 Metering Services 2,250,000 - 2,250,000 0.00% 2,250,000 2,250,000 0.00%
Non-Operating Expense Total 354,554,065 38,723,356 315,830,709 10.92% 354,612,519 315,889,162 10.92%
Expense 412,364,525 95,151,310 317,213,215 30.00% 412,646,471 317,495,161 23.06%
Total expenses were projected to end FY2022 at $412,646,471. Through the quarter, actual
expenses are 23.06% of total projections. Many large multi-year capital project encumbrances will
roll forward into FY2023, from the FY2022 available fund balance.
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 $10,942,451, a
non-operating reserve of $10,000,000, and an Impact Fee reserve of $9,157,405.
During the year-end audit process, additional impact fee revenues will be reconciled and may be
reserved from the available fund balance.
26
F
FY2021 Quarterly Report
FY2021 Quarterly Report
Fund Schedule:
Water Services Period: Sep-22 Budget Current Period Year-End: Projections Vs Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance
Fav/(Unfav) % of Projection
Beginning Fund Balance 180,426,399 180,426,399 - 100.00% 180,426,399 - 100.00%
Operating Revenue
41002:Penalties 315,000 81,793 690,755 375,755 219.29% 566,000 124,755 22.04%42001:Interest Income 390,000 728,276 2,501,288 2,111,288 641.36% 420,100 2,081,188 595.40%43001:Fees 8,062,000 (3,299,948) 9,450,416 1,388,416 117.22% 9,104,281 346,135 103.80%43005:Rental Revenue 50,000 1,825 118,371 68,371 236.74% 70,000 48,371 169.10%43602:Water Charges 36,100,000 4,456,587 47,350,048 11,250,048 131.16% 41,100,000 6,250,048 115.21%43603:Wastewater Charges 14,500,000 1,542,560 17,008,845 2,508,845 117.30% 15,800,000 1,208,845 107.65%43604:Irrigation Charges 300,000 30,083 533,351 233,351 177.78% 450,000 83,351 118.52%41602:Impact Fees 34,345,000 7,294,417 46,909,832 12,564,832 136.58% 42,300,051 4,609,781 110.90%
44502:Developer Contributions 767,240 33,124 613,072 (154,168) 79.91% 550,000 63,072 111.47%
70001:Transfers In 115,000 1,593,369 1,708,369 1,593,369 1485.54% 115,000 1,593,369 1485.54%Total Operating Revenue 94,944,240 12,462,085 126,884,348 31,940,108 133.64% 110,475,432 16,408,916 114.85% Operating Expenses
CC0001 Non-Departmental 5,069,426 175,674 5,719,488 (650,062) 112.82% 5,450,304 (269,184) 104.94%
CC0524 Metering Services - 9,937 10,273 (10,273) 0.00% - (10,273) 0.00%CC0526 Systems Engineering - - - - 0.00% - - 0.00%CC0527 Water Services Administration 31,392,009 3,544,809 29,665,861 1,726,147 94.50% 30,968,610 1,302,748 95.79%CC0528 Water Distribution 4,315,196 1,621,956 4,995,810 (680,614) 115.77% 3,965,999 (1,029,812) 125.97%CC0529 Water Plant Management 5,172,213 459,357 4,449,761 722,452 86.03% 5,886,314 1,436,553 75.60%CC0530 Wastewater Operations 1,179,469 510,365 1,197,756 (18,287) 101.55% 1,040,298 (157,458) 115.14%CC0531 Wastewater Plant
Management 4,466,888 888,637 4,732,836 (265,948) 105.95% 4,920,815 187,979 96.18%
CC0532 Irrigation Operations 295,000 56,755 224,688 70,312 76.17% 209,067 (15,621) 107.47%
CC0535 Water Conservation 899,565 92,868 554,140 345,425 61.60% 701,199 147,059 79.03%CC0553 Water Operations 5,020,694 699,007 4,877,340 143,354 97.14% 4,891,348 14,007 99.71%Operating Expense Total 57,810,460 8,059,365 56,427,953 1,382,506 97.61% 58,033,952 1,605,999 97.23%
Available Operating Fund Balance 37,133,780 - 70,456,394 30,557,601 - 52,441,480 18,014,915 134.35%
Non-Operating Revenue 45001:Misc Revenue 1,462,000 1,213,307 1,537,630 75,630 105.17% 1,367,500 170,130 112.44%
45003:Misc Reimbursements - - 113 113 0.00% 233 (121) 48.28%
45004:Sale of Property - - - - 0.00% - - 0.00%
44001:Grant Revenue - - 304,745 304,745 0.00% 20,124 284,621 1514.34%46001:Bond Proceeds 213,100,000 - 202,385,000 (10,715,000) 94.97% 202,385,000 - 100.00%46002:Bond Premium - - 12,759,165 12,759,165 0.00% 12,759,164 1 100.00%Non-Operating Revenue Total 214,562,000 1,213,307 216,986,652 2,424,652 101.13% 216,532,021 454,631 100.21% Non-Operating Expenses
CC0001 Non-Departmental 2,000,000 (217) 2,053,331 (53,331) 102.67% 2,058,203 (4,872) 99.76%CC0524 Metering Services 2,250,000 - - 2,250,000 0.00% 2,250,000 (2,250,000) 0.00%CC0526 Systems Engineering 334,197,307 7,824,329 28,171,971 306,025,336 8.43% 331,805,749 (303,633,777) 8.49%CC0528 Water Distribution - - - - 0.00% - - 0.00%CC0530 Wastewater Operations 2,803,196 137,163 3,127,605 (324,409) 111.57% 2,803,196 324,409 111.57%CC0532 Irrigation Operations 308,000 - 120,779 187,221 39.21% 308,000 (187,221) 39.21%CC0553 Water Operations 12,995,563 - 5,249,670 7,745,892 40.40% 15,387,371 (10,137,701) 34.12%
Non-Operating Expense Total 354,554,065 7,961,275 38,723,356 315,830,709 10.92% 354,612,519 315,889,162 10.92%
Excess (Deficiency) of Total Revenue over Total Requirements (102,858,285) (185,340,440) 248,719,690 351,577,975 -241.81% (85,639,018) 334,358,708 -290.43%
Ending Fund Balance 77,568,114 - 429,146,089 351,577,975 553.25% 94,787,381 334,358,708 452.75% Reserves
Contingency Reserve 10,942,451 - 10,942,451 - 100.00% 10,942,451 - 100.00%
Non-Operating Reserve 10,000,000 - 10,000,000 - 100.00% 10,000,000 - 100.00%Impact Fee Reserve 9,157,405 - 80,467,171 71,309,766 878.71% 9,157,405 (71,309,766) 878.71%Reserves Total 30,099,856 101,409,622 71,309,766 336.91% 30,099,856 (71,309,766) 336.91% Estimated Operational Roll
Forward 316,011,641
Available Fund Balance 47,468,258 - 11,724,826 (35,743,432) 24.70% 64,687,525 (52,962,699) 18.13%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects.
27
F FY2021 Quarterly Report
TOURISM FUND REVENUES:
While the COVID-19 pandemic significantly
impacted the tourism sector, the City continues to
see improvement in revenues in the fund. Year-
to-date revenue in the fund totals $1,910,304, or
163.83% of budget. Hotel Occupancy Tax revenue
in this fund year-to-date totals $1,700,895 through
the quarter, or 169.07% of budget. Through this
quarter, Hotel Occupancy Tax revenue is $453,749
higher than, or, 136.38% of year-to-date actuals of
the previous fiscal year. Staff will continue to
market Georgetown and are pleased to see
occupancy rates recovering. Additionally, the City
was able to hold the Spring Red Poppy Festival,
further improving revenues over the prior year
when the event was cancelled.
Tourism Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of
Budget Variance % Variance
Revenues
40008:Other Taxes 1,006,014 1,247,146 1,700,895 694,881 169.07% 453,749 136.38%
42001:Interest Income 5,000 5,057 10,681 5,681 213.62% 5,624 211.20%
45001:Misc Revenue 105,000 40,531 139,191 34,191 132.56% 98,660 343.42%
44001:Grant Revenue - 4,200 538 538 0.00% (3,662) 12.80%
44505:Sponsorship 50,000 - 59,000 9,000 118.00% 59,000 0.00%
Revenue Total 1,166,014 1,296,934 1,910,304 744,290 163.83% 613,370 147.29%
FY2022 REVENUE PROJECTIONS:
Tourism Fund
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projection Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of
Budget
Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Revenues
40008:Other Taxes 1,006,014 1,700,895 694,881 169.07% 1,400,000 300,895 121.49%
42001:Interest Income 5,000 10,681 5,681 213.62% 3,500 7,181 305.17%
45001:Misc Revenue 105,000 139,191 34,191 132.56% 137,516 1,675 101.22%
44001:Grant Revenue - 538 538 0.00% - 538 0.00%
44505:Sponsorship 50,000 59,000 9,000 118.00% 60,000 (1,000) 98.33%
Revenue Total 1,166,014 1,910,304 744,290 163.83% 1,601,016 309,288 119.32%
Total revenues were projected to end FY2022 at $1,601,016. Through the quarter, actuals are
$1,910,304, or 119.32% of total projections.
K
100K
200K
300K
400K
500K
600K
Q1 Q2 Q3 Q4
HOTEL OCCUPANCY TAX
FY2020 FY2021 FY2022
28
F FY2021 Quarterly Report
TOURISM FUND EXPENSES:
The Operating expense budget for the Tourism Fund totals $1,639,532, which includes a $52,407
transfer out to the General Fund. Year-to-date operating expenses total $1,486,522, or 90.67% of
budget. Expenses are increased over the prior year due to Red Poppy Festival successfully
returning in April.
Tourism Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of
Budget Variance % Variance
Expenses
CC0001 Non-Departmental 52,407 28,634 52,407 - 100.00% (23,773) 183.02%
CC0208 CVB 1,294,883 995,389 1,137,137 157,746 87.82% (141,749) 114.24%
CC0254 Poppy Festival 292,242 47,209 296,978 (4,736) 101.62% (249,769) 629.07%
Expense Total 1,639,532 1,071,232 1,486,522 153,010 90.67% (415,290) 138.77%
FY2022 EXPENSE PROJECTIONS:
Tourism Fund
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals: Q4
FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Expenses
CC0001 Non-Departmental 52,407 52,407 - 100.00% 52,407 - 100.00%
CC0208 CVB 1,294,883 1,137,137 157,746 87.82% 1,232,736 95,598 92.25%
CC0254 Poppy Festival 292,242 296,978 (4,736) 101.62% 301,477 4,499 98.51%
Expense Total 1,639,532 1,486,522 153,010 90.67% 1,586,620 100,097 93.69%
Total expenses were projected to end FY2022 at $1,586,620. Through the quarter, actual expenses
are $1,486,522, or 93.69% of projections.
Overall, Tourism Fund expenditures are within budget and the fund can cover the 90-day
Contingency Reserve. Ending fund balance is budgeted to be $1,428,147 in FY2022 with an
operating contingency reserve of $337,842, and a capital reserve of $1,090,305. The unaudited,
actual ending fund balance for FY2022 is $2,325,447, and the available fund balance is $897,300.
29
F FY2021 Quarterly Report
Fund Schedule:
Tourism
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 1,901,665 1,901,665 -100.00% 1,901,665 -100.00%
Revenue
40008:Other Taxes 1,006,014 305,240 1,700,895 694,881 169.07% 1,400,000 300,895 121.49%
42001:Interest Income 5,000 2,497 10,681 5,681 213.62% 3,500 7,181 305.17%
45001:Misc Revenue 105,000 709 139,191 34,191 132.56% 137,516 1,675 101.22%
44001:Grant Revenue - - 538 538 0.00% - 538 0.00%
44505:Sponsorship 50,000 - 59,000 9,000 118.00% 60,000 (1,000) 98.33%
Total Revenue 1,166,014 308,446 1,910,304 744,290 163.83% 1,601,016 309,288 119.32%
Expense
Personnel 458,015 57,107 455,727 2,287 99.50% 469,235 13,507 97.12%
Operations 1,129,111 116,843 978,388 150,723 86.65% 1,064,978 86,590 91.87%
Transfers 52,407 - 52,407 - 100.00% 52,407 - 100.00%
Total Expense 1,639,532 173,950 1,486,522 153,010 90.67% 1,586,620 100,097 93.69%
Excess (Deficiency) of Total
Revenue over Total
Requirements (473,518) 134,495 423,782 897,300 -89.50% 14,396 409,386 2943.67%
Ending Fund Balance 1,428,147 134,495 2,325,447 897,300 173.16% 1,916,061 409,386 121.37%
Reserves
Capital Reserve 1,090,305 - 1,090,305 - 100.00% 1,090,305 - 100.00%
Contingency Reserve 337,842 - 337,842 - 100.00% 337,842 - 100.00%
Reserves Total 1,428,147 1,428,147 -100.00% 1,428,147 -100.00%
Available Fund Balance (0) - 897,300 897,300 0.00% 487,914 409,386 183.91%
30
F
AIRPORT FUND REVENUES:
Airport operating revenue budget totals
$3,979,785. Airport Charges, the largest
segment of revenue totals $5,476,986 year-
to-date. This includes revenue for fuel sales,
facility lease, and hangar rentals. Total
operating revenues through the quarter are
$5,826,145, or 146.39% of budget. Revenues
are trending higher than anticipated due to
increases in the price fuel, which has a
related fuel expense.
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 were received as part of the City’s annual debt sale in the
spring. Total non-operating revenue through the quarter is $611,152. This includes $86,901 in
grant revenue for the Taxiway Lighting Project.
Airport Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Revenue
40001:Property Taxes 57,000 59,423 59,843 2,843 104.99% 419 0.71%
42001:Interest Income 3,025 4,082 17,890 14,865 591.40% 13,807 338.23%
43005:Rental Revenue - - 271,426 271,426 0.00% 271,426 0.00%
43606:Airport Charges 3,919,760 3,908,279 5,476,986 1,557,226 139.73% 1,568,707 40.14%
Operating Revenue Total 3,979,785 3,971,785 5,826,145 1,846,360 146.39% 1,854,360 46.69%
Non-Operating Revenue
45001:Misc Revenue 1,000 2,250 7,962 6,962 796.15% 5,712 253.85%
44001:Grant Revenue 108,000 206,980 86,901 (21,099) 80.46% (120,079) -58.01%
46001:Bond Proceeds 500,000 650,000 495,000 (5,000) 99.00% (155,000) -23.85%
46002:Bond Premium - 64,186 21,289 21,289 0.00% (42,897) -66.83%
Non-Operating Revenue
Total 609,000 923,417 611,152 2,152 100.35% (312,264) -33.82%
Total Revenue 4,588,785 4,895,202 6,437,297 1,848,512 140.28% 1,542,096 31.50%
K
500K
1.0M
1.5M
Q1 Q2 Q3 Q4
AIRPORT FUND - FUEL
SALES
FY2020 FY2021 FY2022
31
F
FY2022 REVENUE PROJECTIONS:
Airport Fund
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Revenue
40001:Property Taxes 57,000 59,843 2,843 104.99% 59,423 420 100.71%
42001:Interest Income 3,025 17,890 14,865 591.40% 2,568 15,322 696.64%
43005:Rental Revenue - 271,426 271,426 0.00% - 271,426 0.00%
43606:Airport Charges 3,919,760 5,476,986 1,557,226 139.73% 4,620,500 856,486 118.54%
Operating Revenue Total 3,979,785 5,826,145 1,846,360 146.39% 4,682,491 1,143,654 124.42%
Non-Operating Revenue
45001:Misc Revenue 1,000 7,962 6,962 796.15% 10,000 (2,038) 79.62%
44001:Grant Revenue 108,000 86,901 (21,099) 80.46% 40,000 46,901 217.25%
46001:Bond Proceeds 500,000 495,000 (5,000) 99.00% 495,000 - 100.00%
46002:Bond Premium - 21,289 21,289 0.00% 21,289 0 100.00%
Non-Operating Revenue
Total 609,000 611,152 2,152 100.35% 566,289 44,863 107.92%
Total Revenue 4,588,785 6,437,297 1,848,512 140.28% 5,248,780 1,188,517 122.64%
Total revenues were projected to end FY2022 at $5,248,780. Through the quarter, actuals are
$6,437,297, or 122.64% of total projections.
AIRPORT FUND EXPENSES:
Operating expenses in the Airport fund include a budget of $4,381,470. Year-to-date
operation expenses totals $5,424,649. The majority of the operations budget is fuel for sales.
The year-end budget amendment will include the airport fund due to the increased price of
fuel. Year-to-date operating capital is $64,358, or 99.01% of budget. The Airport purchased a
John Deere Track Loader and received TXDOT approval for partial reimbursement of $61,000
through the CARES Act.
The budget for non-operating expenses total $1,444,226. 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
increased after the design and bid. The unfinished project will roll forward into the FY2023
budget amendment. The remaining amount of non-operating expense is for the airport’s debt
service payment. The debt payment was made in the summer to align with the City’s annual
debt schedule.
32
F
Airport Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
Personnel 509,810 447,529 425,781 84,029 83.52% 21,748 -4.86%
Operations 3,806,660 3,177,144 4,934,510 (1,127,850) 129.63% (1,757,366) 55.31%
Operating Capital 65,000 100,563 64,358 642 99.01% 36,204 -36.00%
Total Operating Expenses 4,381,470 3,725,236 5,424,649 (1,043,180) 123.81% (1,699,413) 45.62%
Non-Operating Expense
CIP Expense 1,250,000 - - 1,250,000 0.00% - 0.00%
Debt Service 194,226 147,341 194,895 (669) 100.34% (47,555) 32.28%
Non-Operating Expense
Total 1,444,226 147,341 194,895 1,249,331 13.49% 47,555 32.28%
Expense Total 5,825,696 3,872,577 5,619,545 206,151 96.46% 1,746,968 45.11%
FY2022 EXPENSE PROJECTIONS:
Airport Fund
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Personnel 509,810 425,781 84,029 83.52% 457,561 31,780 93.05%
Operations 3,806,660 4,934,510 (1,127,850) 129.63% 4,190,777 (743,733) 117.75%
Operating Capital 65,000 64,358 642 99.01% 110,939 46,581 58.01%
Total Operating Expenses 4,381,470 5,424,649 (1,043,180) 123.81% 4,759,277 (665,372) 113.98%
Non-Operating Expense
CIP Expense 1,250,000 - 1,250,000 0.00% 1,250,000 1,250,000 0.00%
Debt Service 194,226 194,895 (669) 100.34% 195,094 199 99.90%
Non-Operating Expense
Total 1,444,226 194,895 1,249,331 13.49% 1,445,094 1,250,199 13.49%
Expense Total 5,825,696 5,619,545 206,151 96.46% 6,204,371 584,827 90.57%
Total expenses were projected to end FY2022 at $6,204,371. Through the quarter, actual
expenses are $5,619,545, or 90.57% of total projections.
33
F
Fund Schedule:
Airport Operations
Period: Sep-22 Budget
Current
Period
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals w/Encumbrances Variance % of Budget Projections Variance Fav/(Unfav) % of Projection
Beginning Fund Balance 2,456,872 2,456,872 -100.00% 2,456,872 -100.00%
Operating Revenues
40001:Property Taxes 57,000 59,843 59,843 2,843 104.99% 59,423 420 100.71% 42001:Interest Income 3,025 4,399 17,890 14,865 591.40% 2,568 15,322 696.64%
43005:Rental Revenue - 23,269 271,426 271,426 0.00% - 271,426 0.00%
43606:Airport Charges 3,919,760 558,561 5,476,986 1,557,226 139.73% 4,620,500 856,486 118.54%
Total Operating
Revenues 3,979,785 646,072 5,826,145 1,846,360 146.39% 4,682,491 1,143,654 124.42%
Operating Expenses
Personnel 509,810 68,630 425,781 84,029 83.52% 457,561 31,780 93.05%
Operations 3,806,660 441,603 4,934,510 (1,127,850) 129.63% 4,190,777 (743,733) 117.75%
Operating Capital 65,000 - 64,358 642 99.01% 110,939 46,581 58.01%
Total Operating
Expenses 4,381,470 510,233 5,424,649 (1,043,180) 123.81% 4,759,277 (665,372) 113.98%
Non-Operating Revenues
45001:Misc Revenue 1,000 - 7,962 6,962 796.15% 10,000 (2,038) 79.62% 44001:Grant Revenue 108,000 50,000 86,901 (21,099) 80.46% 40,000 46,901 217.25%
46001:Bond Proceeds 500,000 - 495,000 (5,000) 99.00% 495,000 - 100.00%
46002:Bond Premium - - 21,289 21,289 0.00% 21,289 0 100.00%
Total Non-Operating
Revenues 609,000 50,000 611,152 2,152 100.35% 566,289 44,863 107.92%
Non-Operating Expenses
CIP Expense 1,250,000 - - 1,250,000 0.00% 1,250,000 1,250,000 0.00%
Debt Service 194,226 (217) 194,895 (669) 100.34% 195,094 199 99.90%
Total Non-Operating
Expenses 1,444,226 (217) 194,895 1,249,331 13.49% 1,445,094 1,250,199 13.49%
Excess (Deficiency) of Total Revenue over Total
Requirements (1,236,911) 186,056 817,753 2,054,663 -66.11% (955,591) 1,773,344 -85.58%
Ending Fund Balance 1,219,961 186,056 3,274,625 2,054,663 268.42% 1,501,281 1,773,344 218.12%
Reserves
AFR Adjustment - - - - 0.00% - - 0.00%
Contingency Reserve 342,905 - 342,905 - 100.00% 342,905 - 100.00%
Reserves for Debt
Service 186,458 - 186,458 - 100.00% 186,458 - 100.00%
Reserves Total 529,363 - 529,363 -100.00% 529,363 - 100.00%
Estimated Operational
Roll Forward 1,250,000
Available Fund Balance 690,598 - 1,495,262 804,663 216.52% 971,918 523,344 153.85%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects
34
STORMWATER REVENUE:
Stormwater operating revenue budget totals
$3,979,407. Stormwater charges, the largest section of
revenue, totals $4,416,008 year-to-date. This primarily
includes revenue for Non-Residential and Residential
Operations. Also included in Stormwater charges is
Pond Maintenance. Total operating revenues through
the quarter are $4,486,850, or 112.75% of budget.
Non-operating revenue are bond proceeds for capital
projects. The Stormwater Fund has $500,000
budgeted for funding to conduct curb and gutter
repair. Bond proceeds were received as part of the
City’s annual debt sale in the spring.
Stormwater Services
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Revenue
41002:Penalties 32,000 44,537 45,969 13,969 143.65% 1,432 3.22%
42001:Interest Income 6,800 9,516 24,874 18,074 365.79% 15,358 161.39%
43605:Stormwater Charges 3,940,607 4,164,869 4,416,008 475,401 112.06% 251,139 6.03%
Operating Revenue Total 3,979,407 4,218,922 4,486,850 507,443 112.75% 267,929 6.35%
Non-Operating Revenue
46001:Bond Proceeds 500,000 - 495,000 (5,000) 99.00% 495,000 0.00%
46002:Bond Premium - - 21,289 21,289 0.00% 21,289 0.00%
Non-Operating Revenue
Total 500,000 - 516,289 16,289 103.26% 516,289 0.00%
Total Revenue 4,479,407 4,218,922 5,003,140 523,733 111.69% 784,218 18.59%
FY2022 Revenue Projections:
Stormwater Services
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Revenue
41002:Penalties 32,000 45,969 13,969 143.65% 50,000 (4,031) 91.94%
42001:Interest Income 6,800 24,874 18,074 365.79% 8,000 16,874 310.92%
43605:Stormwater Charges 3,940,607 4,416,008 475,401 112.06% 4,351,782 64,226 101.48%
Operating Revenue Total 3,979,407 4,486,850 507,443 112.75% 4,409,782 77,068 101.75%
Non-Operating Revenue
46001:Bond Proceeds 500,000 495,000 (5,000) 99.00% 500,000 (5,000) 99.00%
46002:Bond Premium - 21,289 21,289 0.00% 21,289 0 100.00%
Non-Operating Revenue
Total 500,000 516,289 16,289 103.26% 521,289 (5,000) 99.04%
Total Revenue 4,479,407 5,003,140 523,733 111.69% 4,931,071 72,069 101.46%
900K
1.0M
1.1M
1.2M
Q1 Q2 Q3 Q4
STORMWATER CHARGES
FY2020 FY2021 FY2022
35
Total revenues were projected to end FY2022 at $4,931,071. Through the quarter, actuals are
$5,003,140, or 101.46% of total projections.
STORMWATER EXPENSES:
Operating expenses in the Stormwater Fund include a budget of $3,952,554. Year-to-date
operating expenses total $3,427,510. Operating Capital has a budget of $500,000 for infrastructure
improvements and various drainage and flood mitigation maintenance. Year-to-date operating
capital is $34,321, or 6.86% of budget.
The budget for non-operating expenses total $2,031,987. This includes a CIP expense of $1,540,847
for the construction of curb and gutters as well as drainage improvements and Stormwater
Infrastructure. Debt Service has a budget of $491,140.
Stormwater Services
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
Personnel 746,759 549,478 680,310 66,449 91.10% (130,832) 23.81%
Operations 2,391,014 1,839,411 2,362,615 28,399 98.81% (523,204) 28.44%
Operating Capital 500,000 505 34,321 465,679 6.86% (33,816) 6694.97%
Transfers 314,780 315,557 350,263 (35,483) 111.27% (34,706) 11.00%
Total Operating Expenses 3,952,554 2,704,951 3,427,510 525,044 86.72% (722,559) 26.71%
Non-Operating Expense
CIP Expense 1,540,847 381,902 179,436 1,361,411 11.65% 202,465 -53.02%
Debt Service 491,140 485,441 491,621 (481) 100.10% (6,180) 1.27%
Non-Operating Expense Total 2,031,987 867,342 671,057 1,360,930 33.02% 196,285 -22.63%
Expense Total 5,984,541 3,572,293 4,098,567 1,885,974 68.49% (526,274) 14.73%
FY2022 Expense Projections:
Stormwater Services
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Personnel 746,759 680,310 66,449 91.10% 693,518 13,208 98.10%
Operations 2,391,014 2,362,615 28,399 98.81% 2,390,514 27,899 98.83%
Operating Capital 500,000 34,321 465,679 6.86% 500,000 465,679 6.86%
Transfers 314,780 350,263 (35,483) 111.27% 341,029 (9,234) 102.71%
Total Operating Expenses 3,952,554 3,427,510 525,044 86.72% 3,925,062 497,552 87.32%
Non-Operating Expense
CIP Expense 1,540,847 179,436 1,361,411 11.65% 1,540,847 1,361,411 11.65%
Debt Service 491,140 491,621 (481) 100.10% 491,157 (464) 100.09%
Non-Operating Expense Total 2,031,987 671,057 1,360,930 33.02% 2,032,004 1,360,947 33.02%
Expense Total 5,984,541 4,098,567 1,885,974 68.49% 5,957,066 1,858,499 68.80%
36
Total expenses are projected to end FY2022 at $5,957,066. Through the quarter, actual expenses are
$4,098,567, or 68.80% of total projections. Expenses were lower than projected due to curb, gutter,
and drainage improvement projects that were not completed in FY2022. Additionally, a year-end
amendment is proposed to reallocate funding towards capital equipment.
Overall, Stormwater expenditures are within budget and the fund can cover the 90-day
Contingency Reserve. Ending fund balance is budgeted to be $2,372,539 in FY2022 with an
operating contingency reserve of $413,189 and a debt service reserve of $486,959. The unaudited,
actual ending fund balance is $4,782,246, and the available fund balance is $3,882,098. Funding for
capital projects still in process will be rolled forward in the FY2023 budget amendment.
37
Fund Schedule:
Stormwater Services
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance % of
Projection
Beginning Fund Balance 3,877,673 3,877,673 -100.00% 3,877,673 -100.00%
Operating Revenues
41002:Penalties 32,000 3,612 45,969 13,969 143.65% 50,000 (4,031) 91.94%
42001:Interest Income 6,800 5,693 24,874 18,074 365.79% 8,000 16,874 310.92%
43605:Stormwater Charges 3,940,607 392,999 4,416,008 475,401 112.06% 4,351,782 64,226 101.48%
Total Operating Revenues 3,979,407 402,305 4,486,850 507,443 112.75% 4,409,782 77,068 101.75%
Operating Expenses
Personnel 746,759 97,820 680,310 66,449 91.10% 693,518 13,208 98.10%
Operations 2,391,014 241,990 2,362,615 28,399 98.81% 2,390,514 27,899 98.83%
Operating Capital 500,000 1,260 34,321 465,679 6.86% 500,000 465,679 6.86%
Transfers 314,780 27,763 350,263 (35,483) 111.27% 341,029 (9,234) 102.71%
Total Operating Expenses 3,952,554 368,832 3,427,510 525,044 86.72% 3,925,062 497,552 87.32%
Available Operating Funds 26,853 33,473 1,059,341 1,032,488 3944.91% 484,720 574,620 218.55%
Non-Operating Revenues
46001:Bond Proceeds 500,000 - 495,000 (5,000) 99.00% 500,000 (5,000) -1.00%
46002:Bond Premium - - 21,289 21,289 0.00% 21,289 0 0.00%
Total Non-Operating
Revenues 500,000 - 516,289 16,289 103.26% 521,289 (5,000) -0.96%
Non-Operating Expenses
CIP Expense 1,540,847 9,879 179,436 1,361,411 11.65% 1,540,847 1,361,411 11.65%
Debt Service 491,140 - 491,621 (481) 100.10% 491,157 (464) 100.09%
Total Non-Operating
Expenses 2,031,987 9,879 671,057 1,360,930 33.02% 2,032,004 1,360,947 33.02%
Excess (Deficiency) of Total
Revenue over Total
Requirements (1,505,134) 23,594 904,573 2,409,707 -60.10% (1,025,995) 1,930,568 -88.17%
Ending Fund Balance 2,372,539 23,594 4,782,246 2,409,707 201.57% 2,851,678 1,930,568 167.70%
Reserves
Contingency Reserve 413,189 413,189 - 100.00% 413,189 - 100.00%
Debt Service Reserve 486,959 486,959 - 100.00% 486,959 - 100.00%
Reserves Total 900,148 900,148 - 100.00% 900,148 - 100.00%
Estimated Operational Roll
Forward 1,081,411
Available Fund Balance 1,472,391 2,800,687 2,409,707 190.21% 1,951,530 849,157 143.51%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects
38
F
GTEC REVENUE:
Operating revenue is comprised of sales tax and
allocated interest. The budget for sales tax
collections for GTEC is $11,125,005. Year-to-date sales
tax revenue totals $12,591,950, or 113.19% of budget.
Through this period, sales tax collections are up
$1,973,127, or 18.58% over year-to-date collections
from the prior fiscal year. The City continues to see
and monitor the strong performance in sales tax.
Staff is also monitoring economic shifts and sales tax
volatility going into FY2023.
Non-Operating revenue has a budget of $3,700,000
and is made up of bond proceeds. GTEC issued debt
for Project Diana and Costco in FY2022. Bond
proceeds were received in the May as part of the City’s annual bond issuance.
GTEC
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Varaince
Operating Revenue
40002:Sales Taxes 11,125,005 10,618,823 12,591,950 1,466,945 113.19% 1,973,127 18.58%
42001:Interest Income 24,000 25,704 256,979 232,979 1070.74% 231,275 899.76%
Operating Revenue Total 11,149,005 10,644,527 12,848,929 1,699,924 115.25% 2,204,401 20.71%
Non-Operating Revenue
46001:Bond Proceeds 3,700,000 7,405,000 3,775,000 75,000 102.03% (3,630,000) -49.02%
46002:Bond Premium - 731,229 162,358 162,358 0.00% (568,871) -77.80%
Non-Operating Revenue
Total 3,700,000 8,136,229 3,937,358 237,358 106.42% (4,198,871) -51.61%
Revenue Total 14,849,005 18,780,756 16,786,287 1,937,282 113.05% (1,994,469) -10.62%
FY2022 Revenue Projections:
GTEC
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections Variance
Fav/(Unfav)
% of
Projection
Operating Revenue
40002:Sales Taxes 11,125,005 12,591,950 1,466,945 113.19% 12,654,073 (62,123) 99.51%
42001:Interest Income 24,000 256,979 232,979 1070.74% 50,000 206,979 513.96%
Operating Revenue Total 11,149,005 12,848,929 1,699,924 115.25% 12,704,073 144,856 101.14%
Non-Operating Revenue
46001:Bond Proceeds 3,700,000 3,775,000 75,000 102.03% 3,775,000 - 100.00%
46002:Bond Premium - 162,358 162,358 0.00% 162,358 0 100.00%
Non-Operating Revenue
Total 3,700,000 3,937,358 237,358 106.42% 3,937,358 0 100.00%
Revenue Total 14,849,005 16,786,287 1,937,282 113.05% 16,641,431 144,856 100.87%
K
1.0M
2.0M
3.0M
4.0M
5.0M
6.0M
Q1 Q2 Q3 Q4
SALES TAX REVENUE
FY2020 FY2021 FY2022
40
F
Total revenues were projected to end FY2022 at $16,641,431. Through the quarter, actuals are
$16,786,287, or 100.87% of total projections.
GTEC EXPENSES:
Operating expenses year-to-date total $3,374,184, or 96.96% 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 $247,416, or 99.88% of budget. Through the quarter,
GTEC transferred out $3,126,768 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
$7,619,459, or 32.64% of budget. Non-Operating expenses include funding for strategic
partnerships, capital improvement projects, and debt service payment. GTEC’s year-to-date debt
service payment totals $921,728, or 97.59% of budget. The debt service payment is made in the
summer and aligns with 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.
GTEC
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % Of Budget Variance % Variance
Operating Expense
Operations 247,716 346,223 247,416 300 99.88% 98,807 -28.54%
Transfers 3,232,111 2,758,343 3,126,768 105,343 96.74% (368,425) 13.36%
Total Operating Expenses 3,479,827 3,104,567 3,374,184 105,643 96.96% (269,617) 8.68%
Non-Operating Expense
Operations 2,500,000 - - 2,500,000 0.00% - 0.00%
CIP Expense 19,901,742 4,027,459 6,697,731 13,204,011 33.65% (2,670,271) 166.30%
Debt Service 944,500 883,535 921,728 22,772 97.59% (38,194) 104.32%
Total Non-Operating
Expenses 23,346,242 4,910,994 7,619,459 15,726,782 32.64% (2,708,465) 155.15%
Expense Total 26,826,069 8,015,561 10,993,643 15,832,425 40.98% (2,978,082) 37.15%
41
F
FY2022 Expense Projections:
GTEC
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % Of Budget Projections Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Operations 247,716 247,416 300 99.88% 247,416 - 100.00%
Transfers 3,232,111 3,126,768 105,343 96.74% 3,232,111 105,343 96.74%
Total Operating Expenses 3,479,827 3,374,184 105,643 96.96% 3,479,527 105,343 96.97%
Non-Operating Expense
Operations 2,500,000 - 2,500,000 0.00% 9,700,000 9,700,000 0.00%
CIP Expense 19,901,742 6,697,731 13,204,011 33.65% 19,901,742 13,204,011 33.65%
Debt Service 944,500 921,728 22,772 97.59% 944,500 22,772 97.59%
Total Non-Operating
Expenses 23,346,242 7,619,459 15,726,782 32.64% 30,546,242 22,926,782 24.94%
Expense Total 26,826,069 10,993,643 15,832,425 40.98% 34,025,769 23,032,125 32.31%
Total expenses were projected to end FY2022 over budget, at $34,025,769. However, due to the
timing of projects and approved economic development incentive agreement payments, actual
expenses are $10,993,643, only 32.31% of total projections.
Ending fund balance for FY2022 is budgeted to be $26,922,979. After accounting for the
contingency reserve of $2,617,664, and the debt service reserve of $3,918,959, this fund has a
budgeted available fund balance of $20,386,356. Due to the timing of projects, which resulted in
lower than budgeted expenses, the unaudited, actual ending fund balance is $44,692,687, and the
available fund balance is $38,156,064. The capital improvement projects that are still in process will
be rolled forward in the FY2023 budget amendment.
42
F
Fund Schedule:
GTEC
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals
FY2022 Year-End: Projections Vs.
Actuals
FY2022 Sep-22 YTD Actuals Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 38,900,043 41,794,893 2,894,850 107.44% 41,794,893 -100.00%
Operating Revenue
40002:Sales Taxes 11,125,005 3,240,596 12,591,950 1,466,945 113.19% 12,654,073 (62,123) 99.51%
42001:Interest Income 24,000 76,210 256,979 232,979 1070.74% 50,000 206,979 513.96%
Operating Revenue Total 11,149,005 3,316,807 12,848,929 1,699,924 115.25% 12,704,073 144,856 101.14%
Operating Expense
Operations 247,716 20,618 247,416 300 99.88% 247,416 - 100.00%
Transfers 3,232,111 - 3,126,768 105,343 96.74% 3,232,111 105,343 96.74%
Operating Expense Total 3,479,827 20,618 3,374,184 105,643 96.96% 3,479,527 105,343 96.97%
Net Operations Total 7,669,178 3,296,189 9,474,745 1,594,281 123.54% 9,224,546 39,513 102.71%
Non-Operating Revenue
46001:Bond Proceeds 3,700,000 - 3,775,000 75,000 102.03% 3,775,000 - 0.00%
46002:Bond Premium - - 162,358 162,358 0.00% 162,358 0 0.00%
Non-Operating Revenue
Total 3,700,000 - 3,937,358 237,358 106.42% 3,937,358 0 0.00%
Non-Operating Expense
Operations 2,500,000 - - 2,500,000 0.00% 9,700,000 9,700,000 0.00%
CIP Expense 19,901,742 (358,821) 6,697,731 13,204,011 33.65% 19,901,742 13,204,011 33.65%
Debt Service 944,500 (1,656) 921,728 22,772 97.59% 944,500 22,772 97.59%
Non-Operating Expense
Total 23,346,242 (360,477) 7,619,459 15,726,782 32.64% 30,546,242 22,926,782 24.94%
Excess (Deficiency) of Total
Revenue over Total
Requirements (11,977,064) (8,517,855) (307,917) 11,669,147 2.57% (23,129,357) 22,821,440 1.33%
Ending Fund Balance 26,922,979 47,587,537 20,664,557 176.75% 24,410,555 23,176,981 194.95%
Reserves
AFR Adjustment - - - 0.00% - - 0.00%
Contingency Reserve 2,617,664 2,617,664 - 100.00% 2,617,664 - 100.00%
Debt Service Reserve 3,918,959 3,918,959 - 100.00% 3,918,959 - 100.00%
Reserves Total 6,536,623 6,536,623 - 100.00% 6,536,623 - 100.00%
Estimated Operational Roll
Forward 13,168,744
Available Fund Balance 20,386,356 27,882,170 7,495,813 136.77% 17,873,932 10,008,237 155.99%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January Amendment.
These include multi-year capital projects, one-time equipment ordered but not received, and other special projects.
43
F
GEDCO REVENUE:
Operating revenue has a total budget of $2,806,251 in
FY2022 and is comprised of sales tax and allocated
interest. The budget for sales tax collections for GEDCO
is $2,781,251. Year-to-date sales tax revenue totals
$3,147,988, or 113.19% of budget. Through this period,
sales tax collections are up $493,282, or 18.58% over
year-to-date collections from the prior fiscal year. There
is a two-month lag in sales tax collections/reporting.
The City continues to see and monitor the strong
performance in sales tax. Staff are also monitoring
economic shifts and sales tax volatility going into
FY2023.
Non-Operating revenue, which typically includes bond
proceeds, is not part of the FY2022 budget.
GEDCO
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date: Budget
Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % Variance Variance % Variance
Operating Revenue
40002:Sales Taxes 2,781,251 2,654,706 3,147,988 366,737 113.19% 493,282 18.58%
42001:Interest Income 25,000 24,863 57,588 32,588 230.35% 32,725 131.62%
Operating Revenue Total 2,806,251 2,679,569 3,205,576 399,325 114.23% 526,007 19.63%
Non-Operating Revenue
45001:Misc Revenue - - 2,609 2,609 0.00% 2,609 0.00%
Non-Operating Revenue
Total - - 2,609 2,609 0.00% 2,609 0.00%
Revenue Total 2,806,251 2,679,569 3,208,185 401,934 114.32% 528,616 19.73%
FY2022 Revenue Projections:
GEDCO
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date: Budget
Vs. Actuals
FY2022 Year End: Projections Vs.
Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % Variance Projections Variance
Fav/(Unfav)
% of
Projection
Operating Revenue
40002:Sales Taxes 2,781,251 3,147,988 366,737 113.19% 3,163,518 (15,530) 99.51%
42001:Interest Income 25,000 57,588 32,588 230.35% 25,000 32,588 230.35%
Operating Revenue Total 2,806,251 3,205,576 399,325 114.23% 3,188,518 17,058 100.53%
Non-Operating Revenue
45001:Misc Revenue - 2,609 2,609 0.00% 2,610 (1) 99.97%
Non-Operating Revenue
Total - 2,609 2,609 0.00% 2,610 (1) 99.97%
Revenue Total 2,806,251 3,208,185 401,934 114.32% 3,191,128 17,057 100.53%
K
500K
1.0M
1.5M
Q1 Q2 Q3 Q4
SALES TAX REVENUE
FY2020 FY2021 FY2022
44
F
Total revenues were projected to end FY2022 at $3,191,128. Through the quarter, actuals are
$3,208,185, or 100.53% of total projections.
GEDCO EXPENSES:
Operating expenses have a total budget of $884,873 for FY2022. Year-to-date operational
expenses incurred total $656,463, or 74.19% 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 $347,604, or 100.00% of budget. The GEDCO fund has
dedicated funding to market the City for potential economic development. Year-to-date marketing
efforts total $27,006, or 18.00% 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
$3,192,048, or 273.28% of budget through the period. This is due to the timing of approved economic
development agreement expenses. 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 $3,100,000 for Titan North Park, Champion Site Prep, WBW Single Development
Group, and Cockrum Commercial. Staff will include GEDCO as part of the year-end budget
amendment to increase appropriation for the agreements. Additionally, non-operating expense is
where GEDCO budgets for the fund’s debt service payment. The debt service payment includes
principal reduction of $74,511, and an interest expense of $17,537. The debt service payment is
reflected in the Q4 report as it aligns with the City’s annual debt payment.
K
100K
200K
300K
400K
51001:Administrative
Expense
51003:Marketing &
Promotional
51004:Contractual
Services
51006:Subscriptions 80001:Transfers Out
OPERATING EXPENSE BY LEDGER
FY2022 Actuals FY2022 Budget
45
F
GEDCO
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022
YTD
Actuals: Q4
FY21
YTD
Actuals: Q4
FY22
Variance % Variance Variance % Variance
Operating Expense
Operations 682,104 406,571 453,574 228,530 66.50% (47,003) 11.56%
Transfers 202,769 1,200,284 202,889 (120) 100.06% 997,395 -83.10%
Operating Expense Total 884,873 1,606,855 656,463 228,410 74.19% 950,392 -59.15%
Non-Operating Expense
Operations 1,076,000 396,500 3,100,000 (2,024,000) 288.10% (2,703,500) 681.84%
Debt Service 92,048 90,572 92,048 - 100.00% (1,476) 1.63%
Operating Expense Total 1,168,048 487,072 3,192,048 (2,024,000) 273.28% (2,704,976) 555.35%
Expense Total 2,052,921 2,093,927 3,848,511 (1,795,590) 187.47% (1,754,584) 84%
FY2022 Expense Projections:
GEDCO
Quarterly Comparison: Q4 FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals FY2022 Year End: Projections Vs. Actuals
FY2022
YTD
Actuals: Q4
FY22
Variance % Variance Projections Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Operations 682,104 453,574 228,530 66.50% 546,154 92,580 83.05%
Transfers 202,769 202,889 (120) 100.06% 202,769 (120) 100.06%
Operating Expense Total 884,873 656,463 228,410 74.19% 748,923 92,460 87.65%
Non-Operating Expense
Operations 1,076,000 3,100,000 (2,024,000) 288.10% 6,064,000 2,964,000 51.12%
Debt Service 92,048 92,048 - 100.00% 92,048 - 100.00%
Operating Expense Total 1,168,048 3,192,048 (2,024,000) 273.28% 6,156,048 2,964,000 51.85%
Expense Total 2,052,921 3,848,511 (1,795,590) 187.47% 6,904,971 3,056,460 55.74%
Total expenses were projected to be significantly over budget at $6,904,971. However, due to the
timing of economic development agreements, actual expenses are $3,848,511, or 55.74% of total
projections.
Ending fund balance for FY2022 is budgeted at $1,746,055. 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 $876,665. The unaudited, actual ending fund balance is $3,541,838, and
the available fund balance is $2,672,448.
46
F
Fund Schedule:
GEDCO
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals
FY2022 Year End:
Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 992,725 6,416,281 5,423,556 646.33% 6,416,281 -100.00%
Operating Revenue
40002:Sales Taxes 2,781,251 810,149 3,147,988 366,737 113.19% 3,163,518 (15,530) 99.51%
42001:Interest Income 25,000 16,666 57,588 32,588 230.35% 25,000 32,588 230.35%
Operating Revenue Total 2,806,251 826,815 3,205,576 399,325 114.23% 3,188,518 17,058 100.53%
Operating Expense
Operations 682,104 41,080 453,574 228,530 66.50% 546,154 92,580 83.05%
Transfers 202,769 - 202,889 (120) 100.06% 202,769 (120) 100.06%
Operating Expense Total 884,873 41,080 656,463 228,410 74.19% 748,923 92,460 87.65%
Net Operations Total 1,921,378 785,735 2,549,113 (627,735)132.67% 2,439,595 109,518 104.49%
Non-Operating Revenue
45001:Misc Revenue - - 2,609 2,609 0.00% 2,610 (1) 99.97%
Non-Operating Revenue
Total - - 2,609 2,609 0.00% 2,610 (1)99.97%
Non-Operating Expense
Operations 1,076,000 - 3,100,000 2,024,000 288.10% 6,064,000 2,964,000 51.12%
Debt Service 92,048 92,048 92,048 - 100.00% 92,048 - 100.00%
Non-Operating Expense
Total 1,168,048 92,048 3,192,048 2,024,000 273.28% 6,156,048 2,964,000 51.85%
Excess (Deficiency) of
Total Revenue over Total
Requirements 753,330 693,687 (7,051,477) (7,804,807) -936.04% (3,713,843) (3,337,634) 189.87%
Ending Fund Balance 1,746,055 5,775,955 4,029,900 330.80% 2,702,438 3,073,517 213.73%
Reserves
AFR Adjustment - - - - 0.00% - - 0.00%
Contingency Reserve 665,371 - 665,371 - 100.00% 665,371 - 100.00%
Debt Service Reserve 204,019 - 204,019 - 100.00% 204,019 - 100.00%
Reserves Total 869,390 - 869,390 - 100.00% 869,390 - 100.00%
Available Fund Balance 876,665 - 4,906,565 4,029,900 559.69% 1,833,048 3,073,517 267.67%
47
F
VILLAGE PID MONTHLY REPORT AS OF SEPTEMBER 30, 2022
Village PID Revenues:
Village PID budgeted revenues total $523,274
and are comprised of property tax and allocated
interest. The City receives the bulk of property tax
revenues in January and February. The City
projected $522,674 in property tax revenue this
year, as well as $1,000 in allocated interest.
Through the end of FY2022, property tax revenue
totals $502,199, or 96.16% of budget. FY2022
Property tax revenue is up 11.43%, or $51,601
compared to FY2021. Collection rates and
protested values can affect property tax revenue.
FY2022 REVENUE PROJECTIONS:
Total revenues were projected to end FY2022 at $523,674. Through the fourth quarter,
preliminary actuals are $504,214, or 96.28% of total projections.
Village PID Expenses:
Village PID expenses include administrative charges, capital, contractual services,
insurance, maintenance, and marketing. Year-to-date operational and capital expenses total
$354,172 or 37.85% of budget. The Parks Department has contracted for Parks Capital
Improvements which total $38,150 year to date, leaving a remaining budget of $482,286.
Finance staff will work with the Parks Department to identify eligible project expenditures
that can be rolled forward into the next fiscal year.
FY2022 EXPENSE PROJECTIONS:
Total expenses were projected to end FY2022 at $939,707. However, due to the timing of
projects, actual expenses are only 37.69% of total projections.
Ending Fund Balance in FY2022 for Village PID is budgeted at $290,143. After accounting for
the contingency reserve of $113,053, this fund will have a budgeted available fund balance of
$177,090. Due to the timing of projects, year-end fund balance is projected at $852,562, with
an available fund balance of $739,509.
K
200K
400K
Q1 Q2
PROPERTY TAX
REVENUES
FY2021 FY2022
48
F
Fund Schedule:
Village PID
Period: Sep-22 Budget Current Period FY2022 Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projection Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 702,519 702,519 - 100.00% 749,733 (47,214) 93.70%
Revenue 40001:Property Taxes 522,274 (750) 502,199 (20,075) 96.16% 522,674 (20,475) 96.08%
42001:Interest Income 1,000 (46) 339 (661) 33.93% 1,000 (661) 33.93%45003:Misc
Reimbursements - - 1,676 1,676 0.00% - 1,676 0.00%
Revenue Total 523,274 (796) 504,214 (19,060) 96.36% 523,674 (19,460) 96.28%
Expense 53004:Insurance Expense 1,030 - - 1,030 0.00% 1,030 1,030 0.00%
51001:Administrative Expense 37,651 4,241 43,168 (5,517) 114.65% 37,651 (5,517) 114.65%
51002:Publishing & Printing 2,163 229 323 1,840 14.95% 2,163 1,840 14.95%
51004:Contractual Services 20,600 1,826 17,017 3,583 82.61% 20,600 3,583 82.61%51005:Professional
Services - - 339 (339) 0.00% 339 0 99.88%
51007:Contracts & Leases 178,705 8,085 147,394 31,311 82.48% 178,705 31,311 82.48%
51008:Utilities 57,680 5,016 63,829 (6,149) 110.66% 61,398 (2,431) 103.96%
52509:Maintenance
Expense 97,596 20,688 24,163 73,433 24.76% 97,596 73,433 24.76%
60004:Capital Outlay -
Equipment 19,789 - 19,789 - 100.0% 19,789 - 100.00%
60009:Capital Outlay -
Improvements 520,436 - 38,150 482,286 7.33% 520,436 482,286 7.33%
Expense Total 935,650 40,084 354,172 581,478 37.85% 939,707 585,535 37.69%
Excess (Deficiency) of Total
Revenue over Total Requirements (412,376) (40,880) 150,043 (562,419) -36.38% (416,033) 566,076 -36.07%
Ending Fund Balance 290,143 (40,880) 852,562 562,419 293.84% 333,700 518,862 255.49%
Reserves
Contingency Reserve 113,053 - 113,053 - 100.00% 113,053 - 100.00%Debt Service Reserve - - - - 0.00% - - 0.00%
Reserves Total 113,053 113,053 - 100.00% 113,053 - 100.00%
Available Fund Balance 177,090 - 739,509 562,419 417.59% 220,647 518,862 335.15%
49
F
Fund Schedule:
Council Discretionary
Period: Sep-22 Budget
Current
Period Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 2,317,139 2,317,139 -100.00% 110,966 2,206,173 4.79%
Revenue
42001:Interest Income 150 5,523 10,544 10,394 7029.40% 150 10,394 7029.40%
70001:Transfers In 2,670,950 2,670,950 2,670,950 - 100.00% 2,670,950 - 100.00%
Total Revenue 2,671,100 2,676,473 2,681,494 10,394 100.39% 2,671,100 10,394 100.39%
Expense
Transfers - 25,000 25,000 (25,000) 0.00% 25,000 - 100.00%
Total Expense - 25,000 25,000 (25,000) 0.00% 25,000 - 100.00%
Excess (Deficiency) of Total
Revenue over Total
Requirements 2,671,100 2,651,473 2,656,494 (14,606) 99.45% 2,646,100 10,394 100.39%
Ending Fund Balance 4,988,239 2,651,473 4,973,633 35,394 99.71% 2,757,066 2,216,567 180.40%
Reserves
AFR Adjustment - - - - - - - 0.00%
Contingency Reserve - - - - - - - 0.00%
Debt Service Reserve - - - - - - - 0.00%
Reserves Total - - - - - - - 0.00%
Available Fund Balance 4,988,239 - 4,973,633 (14,606) 99.71% 2,757,066 2,216,567 180.40%
50
F
Fund Schedule:
Joint Services
Period: Sep-22 Budget
Current
Period FY2022 Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals:
Sep-22 Variance % of Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 2,418,339 2,418,339 -100.00% 2,418,339 -100.00%
Revenue
41002:Penalties - 1,449 30,149 30,149 0.00% 30,000 149 100.50%
42001:Interest Income 6,250 5,703 16,370 10,120 261.92% 6,250 10,120 261.92%
43001:Fees 11,600 7,050 30,900 19,300 266.38% 22,000 8,900 140.45%
43004:Administrative Charges 20,945,621 1,671,951 20,947,314 1,693 100.01% 20,945,621 1,693 100.01%
43005:Rental Revenue - - 100 100 0.00% - 100 0.00%
45001:Misc Revenue - (1,071) 2,538 2,538 0.00% 30 2,508 8458.47%45002:Insurance Proceeds 100,000 23,947 184,630 84,630 184.63% 140,000 44,630 131.88%
45003:Misc Reimbursements 120,000 18,814 77,134 (42,867) 64.28% 160,000 (82,867) 48.21%44001:Grant Revenue - - 28,388 28,388 0.00% - 28,388 0.00%
44502:Developer Contributions - - 0 0 0.00% - 0 0.00%70001:Transfers In 1,597,491 1,597,491 1,597,491 - 100.00% 1,597,491 - 100.00%
Revenue Total 22,780,962 3,325,333 22,915,012 134,050 100.59% 22,901,392 13,620 100.06%
Expense
CC0001 Non-Departmental 1,079,500 (222,622) 1,671,814 (592,314) 154.87% 1,579,500 (92,314) 105.84%
CC0302 Finance Administration 1,258,221 112,411 1,105,009 153,212 87.82% 1,145,053 40,044 96.50%
CC0315 Accounting 1,610,064 173,955 1,431,273 178,792 88.90% 1,526,000 94,727 93.79%
CC0317 Purchasing 1,083,516 121,936 992,677 90,839 91.62% 1,019,457 26,780 97.37%
CC0321 Utility Customer Service 1,083,714 79,929 925,395 158,320 85.39% 1,108,685 183,291 83.47%
CC0322 Utility Customer Billing 1,314,893 198,786 1,181,086 133,807 89.82% 1,152,928 (28,158) 102.44%CC0324 Customer Admin & Data
Analytics 4,808,701 511,111 4,784,193 24,508 99.49% 4,773,846 (10,348) 100.22%CC0503 Organizational and
Operational Excellence 384,444 24,271 338,014 46,431 87.92% 375,601 37,587 89.99%CC0526 Systems Engineering 3,214,334 369,003 3,039,491 174,843 94.56% 3,242,388 202,897 93.74%
CC0534 Conservation - 24 45 (45) 0.00% - (45) 0.00%CC0637 Economic Development 662,086 60,288 593,221 68,865 89.60% 661,629 68,408 89.66%
CC0639 Human Resources 1,756,172 211,584 1,737,960 18,212 98.96% 1,749,032 11,072 99.37%
CC0640 Citywide Human
Resources 1,455,243 61,831 1,203,999 251,243 82.74% 1,396,041 192,042 86.24%
CC0654 Legal 1,464,224 (157,261) 1,298,398 165,827 88.67% 1,468,950 170,553 88.39%
CC0658 Real Estate Services 257,708 44,843 92,000 165,709 35.70% 150,419 58,419 61.16%
Expense Total 21,432,821 1,590,087 20,394,574 1,038,248 95.16% 21,349,529 954,955 95.53%
Excess (Deficiency) of Total
Revenue over Total Requirements 1,348,141 1,735,247 2,520,438 1,172,297 186.96% 1,551,863 968,574 162.41%
Ending Fund Balance 3,766,480 4,938,777 1,172,297 131.12% 3,970,202 968,574 124.40%
Reserves
Contingency Reserve 3,635,966 3,635,966 - 100.00% 3,635,966 - 100.00%
Reserves Total 3,635,966 3,635,966 - 100.00% 3,635,966 - 100.00%
Available Fund Balance 130,515 1,302,811 1,172,296 998.21% 334,236 968,574 389.79%
51
II. INVESTMENTS
The investment activity and strategies described in this report comply with the
Public Funds Investment Act (PFIA), the City’s investment policy, and generally
accepted accounting principles. Activity for the fourth quarter of fiscal year 2022
includes the maturing, reinvesting, new investments of financial institution deposits
(CDs) & purchases of treasury/agency securities. Principal and interest debt service
payments were made during this quarter, resulting in a decrease in total portfolio.
Interest rates continued to increase during this quarter after the FOMC met. We
continue to work closely with Valley View Consulting to select the best investments
as the market is changing rapidly.
The FOMC met in July and September and announced multiple increases in the Fed
Funds Rate from 1.50-1.75 in June to 3-3.25% in September. The FOMC will meet
again in November and December and are expected to increase rates again. 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 September 30, 2022. 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 September 30, 2022, 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 43.6%, debt service at .4%, and bond
proceeds/grants/reserved fund at 56%.
The City portfolio decreased during this quarter due to debt service payments. The
GTEC and GEDCO portfolios decreased in this quarter as well due to debt service
payments. The average yield increased on all portfolios due to increased rates in our
pools, newly purchased cd’s, and treasury/agency securities. Rates on securities have
helped the city diversify the portfolio compared to the prior year’s holdings.
52
CITY Book Value GTEC GEDCO
6/30/22 9/30/22 6/30/22 9/30/22 6/30/22 9/30/22
Total cash
and
investments
$745,141,630 $731,043,243 $39,670,916 $38,131,640 $9,114,870 $8,733,297
Quarter
End
Average
Yield
.95% 2.08% .95% 2.54% .88% 2.52%
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 Engineering department is hiring a firm to assist with quicker execution of
capital projects. Finance staff are also assisting Economic Development staff with an
updated cash flow model for GEDCO to manage incentive agreement payments and
potential new projects.
The City’s investment portfolio generally includes bank deposits, local government
investment pool balances, money market accounts, financial institution deposits
(CD’s), and securities/agencies. 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
53
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 is currently transitioning the depository bank contract from Chase to Wells
Fargo. Staff will work with Wells Fargo 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, however, according to the contract, there will not be any fees
assessed in the first year. 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. This
report provides 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 to demand for transportation
and water services, City staff have formed a working group with the goal of
improving work capacity and efficiencies, and ultimately customer service, related to
capital projects. The 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. A Communications and
Public Engagement staff person has also been re-organized to focus on capital
project status updates. For the FY2023 Budget, staff were added to the Water, Public
Works, and Engineering departments to assist with the workload of the capital
improvement plan. Additionally, Council agreed to implement a hybrid approach to
capital project management, and to hire contracted staff to manage transportation
and facilities projects over the next 3 or more years.
54
CITY
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2022
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.
155
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Demand Accounts 0.22%22,970,725$ 22,970,725$ 0.50%12,506,553$ 12,506,553$
NOW/MMA 0.24%23,043,557 23,043,557 2.84%32,888,931 32,888,931
Pools 0.02%194,658,236 194,658,236 2.30%373,311,718 373,311,718
CDs/Securities 0.25%136,646,542 136,646,542 1.80%312,336,041 312,250,541
Totals 377,319,060$ 377,319,060$ 731,043,243$ 730,957,743$
Fourth Quarter-End Yield 0.13%2.08%
Average Quarter-End Yields (1):
2021 Fiscal Year 2022 Fiscal Year
Georgetown-City 0.21%0.89%
Rolling Three Month Treasury 0.06%1.06%
Rolling Six Month Treasury 0.08%1.01%
TexPool 0.04%0.90%
(1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2021
Annual Comparison of Portfolio Performance
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.256
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Demand Accounts 25,104,108$ 25,104,108 12,506,553$ 12,506,553$ 0.50%
NOW/MMA 16,076,373 16,076,373 32,888,931 32,888,931 2.84%
Pools 453,078,405 453,078,405 373,311,718 373,311,718 2.30%
CDs/Securities 250,882,744 250,882,744 312,336,041 312,250,541 1.80%
Totals 745,141,630$ 745,141,630$ 731,043,243$ 730,957,743$ 2.08%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 2.08%Total Portfolio 0.89%
Rolling Three Month Treasury 2.76%Rolling Three Month Treasury 1.06%
Rolling Six Month Treasury 2.46%Rolling Six Month Treasury 1.01%
TexPool 2.41%TexPool 0.90%
Bank Fees Offset
15,832$
Interest earnings provided in separate report.56,998$
June 30, 2022
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
Quarterly Bank Fees Offset
Year-to-date Bank Fees Offset
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.357
Economic Overview9/30/2022The Federal Open Market Committee (FOMC) raised the Fed Funds target range 0.75% to 3.00% - 3.25% September 21st (Effective Fed Funds are trading +/-3.10%). The FOMC continued actively reducing their balance sheet. An additional 0.50% - 0.75% increase is currently anticipated November 2nd. Second Quarter GDP was confirmed at -0.6%. Domestic and international economies are slowing. September Non-Farm Payroll added 263k new jobs with a Three Month Average of 372k. Crude oil fell below $80 per barrel, but OPEC+ announced a target production reduction of 2 million barrels/day. The Stock Markets continued bouncing down and are +/-20% below the 2021 peak. The negatively sloped yield curve (6 months to 10 years, with peak yield at 3 years) may indicate lower future interest rates. Inflation remained well over the FOMC 2% target (Core PCE +/-4.9% and CPI exceeding 8%).02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,7504,0004,2504,5004,7505,0005,250S&P 5000.000.501.001.502.002.503.003.504.004.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.501.001.502.002.503.003.504.004.50Treasury Yield CurvesSeptember 30, 2021June 30, 2022September 30, 20220.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.458
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
JPMorgan Chase Cash (3)0.50%10/01/22 09/30/22 12,506,553$ 12,506,553$ 1.00 12,506,553$ 1 0.50%
JPMorgan Chase MMA 0.40%10/01/22 09/30/22 434,470 434,470 1.00 434,470 1 0.40%
Veritex Community Bank MMA 3.08%10/01/22 09/30/22 3,238,147 3,238,147 1.00 3,238,147 1 3.08%
Wells Fargo Bank Cash 2.70%10/01/22 09/30/22 16,727,590 16,727,590 1.00 16,727,590 1 2.70%
NexBank MMA 3.05%10/01/22 09/30/22 12,488,723 12,488,723 1.00 12,488,723 1 3.05%
TexPool AAAm 2.41%10/01/22 09/30/22 31,811,436 31,811,436 1.00 31,811,436 1 2.41%
TexSTAR AAAm 2.29%10/01/22 09/30/22 341,500,283 341,500,283 1.00 341,500,283 1 2.29%
Independent Bank CD 0.30%10/18/22 10/18/21 2,562,534 2,562,534 100.00 2,562,534 18 0.30%
Prosperity Bank CD 0.20%10/24/22 04/23/21 5,014,211 5,014,211 100.00 5,014,211 24 0.20%
East West Bank CD 0.21%11/15/22 11/15/21 10,018,428 10,018,428 100.00 10,018,428 46 0.21%
Prosperity Bank CD 0.40%11/17/22 11/17/20 2,014,712 2,014,712 100.00 2,014,712 48 0.40%
Prosperity Bank CD 0.15%11/23/22 08/23/21 2,003,257 2,003,257 100.00 2,003,257 54 0.15%
Prosperity Bank CD 0.15%12/21/22 09/21/21 5,007,505 5,007,505 100.00 5,007,505 82 0.15%
Alliance Bank CD 2.50%12/24/22 06/24/22 8,050,411 8,050,411 100.00 8,050,411 85 2.52%
East West Bank CD 1.06%12/26/22 03/25/22 12,066,396 12,066,396 100.00 12,066,396 87 1.07%
R Bank CD 0.60%12/31/22 06/30/21 1,007,557 1,007,557 100.00 1,007,557 92 0.60%
East West Bank CD 0.42%01/09/23 01/07/22 5,025,900 5,025,900 100.00 5,025,900 101 0.42%
East West Bank CD 0.51%01/20/23 01/20/22 10,035,553 10,035,553 100.00 10,035,553 112 0.51%
Alliance Bank CD 2.80%02/02/23 08/02/22 4,000,000 4,000,000 100.00 4,000,000 125 2.83%
Texas Capital Bank CD 2.80%02/04/23 08/04/22 7,768,451 7,768,451 100.00 7,768,451 127 2.80%
East West Bank CD 3.12%02/07/23 08/11/22 5,890,623 5,890,623 100.00 5,890,623 130 3.17%
East West Bank CD 0.83%02/08/23 02/08/22 8,042,865 8,042,865 100.00 8,042,865 131 0.83%
East West Bank CD 3.12%02/15/23 08/15/22 4,021,211 4,021,211 100.00 4,021,211 138 3.12%
Bank OZK CD 0.18%02/23/23 08/23/21 4,208,255 4,208,255 100.00 4,208,255 146 0.18%
East West Bank CD 1.19%02/27/23 02/25/22 20,142,652 20,142,652 100.00 20,142,652 150 1.20%
Veritex Community Bank CD 0.18%03/09/23 09/09/21 4,007,206 4,007,206 100.00 4,007,206 160 0.18%
East West Bank CD 1.15%03/14/23 03/14/22 15,095,293 15,095,293 100.00 15,095,293 165 1.16%
T-Bill Aaa/AAA 0.00%03/16/23 09/15/22 500,000 491,998 99.93 491,638 167 3.56%
T-Bill Aaa/AAA 0.00%03/16/23 09/15/22 26,050,000 25,633,091 99.93 25,614,354 167 3.56%
R Bank CD 3.00%03/23/23 09/22/22 4,503,330 4,503,330 100.00 4,503,330 174 3.05%
East West Bank CD 1.29%03/27/23 03/25/22 25,168,439 25,168,439 100.00 25,168,439 178 1.30%
Prosperity Bank CD 0.20%04/24/23 04/23/21 5,014,211 5,014,211 100.00 5,014,211 206 0.20%
Prosperity Bank CD 0.20%05/01/23 05/25/21 5,013,387 5,013,387 100.00 5,013,387 213 0.20%
Alliance Bank CD 2.95%05/02/23 08/02/22 4,000,000 4,000,000 100.00 4,000,000 214 2.98%
Texas Capital Bank CD 2.90%05/04/23 08/04/22 1,253,082 1,253,082 100.00 1,253,082 216 2.90%
East West Bank CD 3.22%05/10/23 08/10/22 3,021,724 3,021,724 100.00 3,021,724 222 3.27%
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.559
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
September 30, 2022
Bank OZK CD 0.20%06/12/23 06/11/21 5,023,884 5,023,884 100.00 5,023,884 255 0.20%
East West Bank CD 2.99%06/16/23 06/16/22 15,132,051 15,132,051 100.00 15,132,051 259 3.04%
Texas Capital Bank CD 3.42%06/16/23 09/16/22 5,000,000 5,000,000 100.00 5,000,000 259 3.42%
East West Bank CD 2.94%06/20/23 06/22/22 2,523,090 2,523,090 100.00 2,523,090 263 2.98%
FHLB Aaa/AA+0.00%06/29/23 09/16/22 10,000,000 9,709,489 100.07 9,716,191 272 3.97%
R Bank CD 0.73%06/30/23 06/30/21 1,009,182 1,009,182 100.00 1,009,182 273 0.73%
Alliance Bank CD 3.10%07/01/23 07/01/22 4,031,255 4,031,255 100.00 4,031,255 274 3.14%
East West Bank CD 3.05%08/01/23 08/01/22 2,016,185 2,016,185 100.00 2,016,185 305 3.10%
Alliance Bank CD 3.15%08/02/23 08/02/22 1,000,000 1,000,000 100.00 1,000,000 306 3.19%
Bank OZK CD 0.21%08/14/23 11/12/21 5,008,794 5,008,794 100.00 5,008,794 318 0.21%
Texas Capital Bank CD 3.30%08/24/23 08/24/22 2,507,016 2,507,016 100.00 2,507,016 328 3.30%
FHLB Aaa/AA+3.63%09/13/23 09/13/22 13,350,000 13,339,436 99.49 13,271,236 348 3.71%
FFCB Aaa/AA+0.22%09/22/23 09/13/22 925,000 894,020 99.45 889,114 357 3.74%
Veritex Community Bank CD 0.25%09/25/23 09/24/21 10,025,029 10,025,029 100.00 10,025,029 360 0.25%
Bank OZK CD 0.20%10/09/23 10/08/21 5,009,232 5,009,232 100.00 5,009,232 374 0.20%
Bank OZK CD 0.30%11/13/23 11/12/21 10,025,098 10,025,098 100.00 10,025,098 409 0.30%
Southside Bank CD 3.32%02/02/24 08/02/22 10,000,000 10,000,000 100.00 10,000,000 490 3.32%
TOTALS 731,800,210$ 731,043,243$ 730,957,743$ 86 2.08%
(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.660
0–6 Months
92%
6–12 Months
6%
12–18 Months
2%
Current Quarter Maturities
$0
$100,000,000
$200,000,000
$300,000,000
$400,000,000
$500,000,000
$600,000,000
$700,000,000
$800,000,000
12/31/21 03/31/22 06/30/22 09/30/22
Portfolio Balances
Money Market
Local Depository
TexSTAR
TexPool
Certificate of Deposit
Securities
166174166
102
69
90
7375
109104
123
156163
97
108
87
51
67
4941
91
73
6154
99
71
124
95100
80
70676358
818274
104113123
156
7886
0
50
100
150
200
# of DaysWeighted Average to Maturity
JPMorgan Chase
2%
Wells Fargo Bank2%
Texas Capital
Bank
2%
Southside Bank
2%
Prosperity Bank
4%
Veritex
Community Bank 3%
Bank OZK4%
NexBank2%
TexPool5%
TexSTAR
50%
Independent
Bank
0%
Alliance Bank
3%
East West Bank
20%
R Bank
1%
Portfolio Holdings by Issuer
City of Georgetown Valley View Consulting, L.L.C.
761
City - Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
06/30/22 Increases Decreases Book Value
09/30/22
Market Value
06/30/22
Change in
Market Value
Market Value
09/30/22
JPMorgan Chase Cash 0.50%10/01/22 25,104,108$ –$ (12,597,554)$ 12,506,553$ 25,104,108$ (12,597,554)$ 12,506,553$
JPMorgan Chase MMA 0.40%10/01/22 434,217 253 – 434,470 434,217 253 434,470
Veritex Community Bank MMA 3.08%10/01/22 3,221,390 16,757 – 3,238,147 3,221,390 16,757 3,238,147
Wells Fargo Bank Cash 2.70%10/01/22 – 16,727,590 – 16,727,590 – 16,727,590 16,727,590
NexBank MMA 3.05%10/01/22 12,420,766 67,958 – 12,488,723 12,420,766 67,958 12,488,723
TexPool 2.41%10/01/22 55,821,493 – (24,010,058) 31,811,436 55,821,493 (24,010,058) 31,811,436
TexSTAR 2.29%10/01/22 397,256,912 – (55,756,629) 341,500,283 397,256,912 (55,756,629) 341,500,283
Prosperity Bank CD 0.20%07/01/22 4,031,414 – (4,031,414) – 4,031,414 (4,031,414) –
Prosperity Bank CD 0.20%07/25/22 5,011,684 – (5,011,684) – 5,011,684 (5,011,684) – Prosperity Bank CD 0.20%08/01/22 5,010,860 – (5,010,860) – 5,010,860 (5,010,860) –
East West Bank CD 0.45%08/01/22 2,005,168 – (2,005,168) – 2,005,168 (2,005,168) –
East West Bank CD 0.53%08/10/22 3,006,148 – (3,006,148) – 3,006,148 (3,006,148) –
East West Bank CD 0.17%08/15/22 4,004,250 – (4,004,250) – 4,004,250 (4,004,250) –
Prosperity Bank CD 0.35%08/22/22 2,513,866 – (2,513,866) – 2,513,866 (2,513,866) –
Prosperity Bank CD 0.20%09/12/22 5,010,009 – (5,010,009) – 5,010,009 (5,010,009) –
East West Bank CD 1.85%09/16/22 10,007,523 – (10,007,523) – 10,007,523 (10,007,523) –
East West Bank CD 0.26%09/20/22 2,002,751 – (2,002,751) – 2,002,751 (2,002,751) –
East West Bank CD 1.72%09/20/22 3,004,242 – (3,004,242) – 3,004,242 (3,004,242) –
East West Bank CD 1.72%09/20/22 2,503,535 – (2,503,535) – 2,503,535 (2,503,535) –
Independent Bank CD 0.30%10/18/22 2,560,619 1,915 – 2,562,534 2,560,619 1,915 2,562,534 Prosperity Bank CD 0.20%10/24/22 5,011,684 2,527 – 5,014,211 5,011,684 2,527 5,014,211
East West Bank CD 0.21%11/15/22 10,013,126 5,301 – 10,018,428 10,013,126 5,301 10,018,428
Prosperity Bank CD 0.40%11/17/22 2,012,682 2,030 – 2,014,712 2,012,682 2,030 2,014,712
Prosperity Bank CD 0.15%11/23/22 2,002,500 757 – 2,003,257 2,002,500 757 2,003,257 Prosperity Bank CD 0.15%12/21/22 5,005,612 1,893 – 5,007,505 5,005,612 1,893 5,007,505
Alliance Bank CD 2.52%12/24/22 8,000,000 50,411 – 8,050,411 8,000,000 50,411 8,050,411
East West Bank CD 1.07%12/26/22 12,034,200 32,195 – 12,066,396 12,034,200 32,195 12,066,396
R Bank CD 0.60%12/31/22 1,006,035 1,523 – 1,007,557 1,006,035 1,523 1,007,557
East West Bank CD 0.42%01/09/23 5,020,582 5,318 – 5,025,900 5,020,582 5,318 5,025,900
East West Bank CD 0.51%01/20/23 10,022,661 12,892 – 10,035,553 10,022,661 12,892 10,035,553
Alliance Bank CD 2.83%02/02/23 – 4,000,000 – 4,000,000 – 4,000,000 4,000,000
Texas Capital Bank CD 2.80%02/04/23 – 7,768,451 – 7,768,451 – 7,768,451 7,768,451
East West Bank CD 3.17%02/07/23 – 5,890,623 – 5,890,623 – 5,890,623 5,890,623
East West Bank CD 0.83%02/08/23 8,026,056 16,808 – 8,042,865 8,026,056 16,808 8,042,865
East West Bank CD 3.12%02/15/23 – 4,021,211 – 4,021,211 – 4,021,211 4,021,211 Bank OZK CD 0.18%02/23/23 4,206,336 1,919 – 4,208,255 4,206,336 1,919 4,208,255
East West Bank CD 1.20%02/27/23 20,082,326 60,325 – 20,142,652 20,082,326 60,325 20,142,652
Veritex Community Bank CD 0.18%03/09/23 4,005,388 1,818 – 4,007,206 4,005,388 1,818 4,007,206
East West Bank CD 1.16%03/14/23 15,051,601 43,692 – 15,095,293 15,051,601 43,692 15,095,293 T-Bill 3.56%03/16/23 – 491,998 – 491,998 – 491,638 491,638
T-Bill 3.56%03/16/23 – 25,633,091 – 25,633,091 – 25,614,354 25,614,354
City of Georgetown Valley View Consulting, L.L.C.862
City - Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
06/30/22 Increases Decreases Book Value
09/30/22
Market Value
06/30/22
Change in
Market Value
Market Value
09/30/22
R Bank CD 3.05%03/23/23 – 4,503,330 – 4,503,330 – 4,503,330 4,503,330
East West Bank CD 1.30%03/27/23 25,086,738 81,701 – 25,168,439 25,086,738 81,701 25,168,439
Prosperity Bank CD 0.20%04/24/23 5,011,684 2,527 – 5,014,211 5,011,684 2,527 5,014,211
Prosperity Bank CD 0.20%05/01/23 5,010,860 2,526 – 5,013,387 5,010,860 2,526 5,013,387
Alliance Bank CD 2.98%05/02/23 – 4,000,000 – 4,000,000 – 4,000,000 4,000,000
Texas Capital Bank CD 2.90%05/04/23 – 1,253,082 – 1,253,082 – 1,253,082 1,253,082 East West Bank CD 3.27%05/10/23 – 3,021,724 – 3,021,724 – 3,021,724 3,021,724
Bank OZK CD 0.20%06/12/23 5,021,340 2,544 – 5,023,884 5,021,340 2,544 5,023,884
East West Bank CD 3.04%06/16/23 15,018,442 113,608 – 15,132,051 15,018,442 113,608 15,132,051
Texas Capital Bank CD 3.42%06/16/23 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000 East West Bank CD 2.98%06/20/23 2,504,463 18,627 – 2,523,090 2,504,463 18,627 2,523,090
FHLB 3.97%06/29/23 – 9,709,489 – 9,709,489 – 9,716,191 9,716,191
R Bank CD 0.73%06/30/23 1,007,327 1,855 – 1,009,182 1,007,327 1,855 1,009,182
Alliance Bank CD 3.14%07/01/23 – 4,031,255 – 4,031,255 – 4,031,255 4,031,255
East West Bank CD 3.10%08/01/23 – 2,016,185 – 2,016,185 – 2,016,185 2,016,185
Alliance Bank CD 3.19%08/02/23 – 1,000,000 – 1,000,000 – 1,000,000 1,000,000
Bank OZK CD 0.21%08/14/23 5,006,131 2,663 – 5,008,794 5,006,131 2,663 5,008,794
Texas Capital Bank CD 3.30%08/24/23 – 2,507,016 – 2,507,016 – 2,507,016 2,507,016
FHLB 3.71%09/13/23 – 13,339,436 – 13,339,436 – 13,271,236 13,271,236
FFCB 3.74%09/22/23 – 894,020 – 894,020 – 889,114 889,114
Veritex Community Bank CD 0.25%09/25/23 10,018,714 6,314 – 10,025,029 10,018,714 6,314 10,025,029 Bank OZK CD 0.20%10/09/23 5,006,690 2,541 – 5,009,232 5,006,690 2,541 5,009,232
Bank OZK CD 0.30%11/13/23 10,017,496 7,602 – 10,025,098 10,017,496 7,602 10,025,098
Southside Bank CD 3.32%02/02/24 – 10,000,000 – 10,000,000 – 10,000,000 10,000,000
TOTAL / AVERAGE 2.08%745,141,630$ 126,377,305$ (140,475,692)$ 731,043,243$ 745,141,630$ (14,183,887)$ 730,957,743$
City of Georgetown Valley View Consulting, L.L.C.963
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 GO-
Roads
2015 Revenue
Water WW
2016 GO-
Roads
Garey Park
Donation
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Roads
JPMorgan Chase Cash 12,506,553$ 12,506,553$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,470 434,470 – – – – – – – – – – –
Veritex Community Bank MMA 3,238,147 3,238,147 – – – – – – – – – – –
Wells Fargo Bank Cash 16,727,590 16,727,590 – – – – – – – – – – –
NexBank MMA 12,488,723 12,488,723 – – – – – – – – – – –
TexPool 31,811,436 31,811,436 – – – – – – – – – – –
TexSTAR 341,500,283 28,675,146 452,616 2,934,215 138,208 1,528,939 1,541,884 922,302 1,067,755 7,841,897 57,072 368,747 1,728,899
Independent Bank CD 10/18/22 2,562,534 2,562,534 – – – – – – – – – – – Prosperity Bank CD 10/24/22 5,014,211 5,014,211 – – – – – – – – – – –
East West Bank CD 11/15/22 10,018,428 – – – – – – – – – – – –
Prosperity Bank CD 11/17/22 2,014,712 2,014,712 – – – – – – – – – – –
Prosperity Bank CD 11/23/22 2,003,257 2,003,257 – – – – – – – – – – –
Prosperity Bank CD 12/21/22 5,007,505 5,007,505 – – – – – – – – – – –
Alliance Bank CD 12/24/22 8,050,411 8,050,411 – – – – – – – – – – –
East West Bank CD 12/26/22 12,066,396 – – – – – – – – – – – –
R Bank CD 12/31/22 1,007,557 1,007,557 – – – – – – – – – – –
East West Bank CD 01/09/23 5,025,900 5,025,900 – – – – – – – – – – –
East West Bank CD 01/20/23 10,035,553 10,035,553 – – – – – – – – – – –
Alliance Bank CD 02/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 02/04/23 7,768,451 – – – – – – – – – – – –
East West Bank CD 02/07/23 5,890,623 – – – – – – – – – – – –
East West Bank CD 02/08/23 8,042,865 8,042,865 – – – – – – – – – – –
East West Bank CD 02/15/23 4,021,211 – – – – – – – – – – – –
Bank OZK CD 02/23/23 4,208,255 4,208,255 – – – – – – – – – – –
East West Bank CD 02/27/23 20,142,652 20,142,652 – – – – – – – – – – –
Veritex Community Bank CD 03/09/23 4,007,206 4,007,206 – – – – – – – – – – –
East West Bank CD 03/14/23 15,095,293 15,095,293 – – – – – – – – – – –
T-Bill 03/16/23 491,998 – – – – – – – – – – – –
T-Bill 03/16/23 25,633,091 – – – – – – – – – – – –
R Bank CD 03/23/23 4,503,330 – – – – – – – – – – – –
East West Bank CD 03/27/23 25,168,439 – – – – – – – – – – – –
Prosperity Bank CD 04/24/23 5,014,211 5,014,211 – – – – – – – – – – –
Prosperity Bank CD 05/01/23 5,013,387 5,013,387 – – – – – – – – – – – Alliance Bank CD 05/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 05/04/23 1,253,082 – – – – – – – – – – – –
East West Bank CD 05/10/23 3,021,724 – – – – – – – – 3,021,724 – – –
Bank OZK CD 06/12/23 5,023,884 5,023,884 – – – – – – – – – – –
East West Bank CD 06/16/23 15,132,051 15,132,051 – – – – – – – – – – –
Texas Capital Bank CD 06/16/23 5,000,000 5,000,000 – – – – – – – – – – –
East West Bank CD 06/20/23 2,523,090 – – – – – – – – – – – –
FHLB 06/29/23 9,709,489 9,709,489 – – – – – – – – – – –
R Bank CD 06/30/23 1,009,182 1,009,182 – – – – – – – – – – –
Alliance Bank CD 07/01/23 4,031,255 4,031,255 – – – – – – – – – – –
East West Bank CD 08/01/23 2,016,185 – – – – – – – – – – – –
Alliance Bank CD 08/02/23 1,000,000 – – – – – – – – – – – –
Bank OZK CD 08/14/23 5,008,794 5,008,794 – – – – – – – – – – –
Texas Capital Bank CD 08/24/23 2,507,016 2,507,016 – – – – – – – – – – –
FHLB 09/13/23 13,339,436 – – – – – – – – – – – –
FFCB 09/22/23 894,020 – – – – – – – – – – – –
Veritex Community Bank CD 09/25/23 10,025,029 10,025,029 – – – – – – – – – – –
Bank OZK CD 10/09/23 5,009,232 5,009,232 – – – – – – – – – – –
Bank OZK CD 11/13/23 10,025,098 10,025,098 – – – – – – – – – – –
Southside Bank CD 02/02/24 10,000,000 – – – – – – – – – – – –
Totals 731,043,243$ 280,608,602$ 452,616$ 2,934,215$ 138,208$ 1,528,939$ 1,541,884$ 922,302$ 1,067,755$ 10,863,622$ 57,072$ 368,747$ 1,728,899$
Book Value
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.1064
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
Independent Bank CD 10/18/22Prosperity 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
Alliance Bank CD 12/24/22
East West Bank CD 12/26/22
R Bank CD 12/31/22
East West Bank CD 01/09/23
East West Bank CD 01/20/23
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23
East West Bank CD 02/15/23
Bank OZK CD 02/23/23
East West Bank CD 02/27/23
Veritex Community Bank CD 03/09/23
East West Bank CD 03/14/23
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23
FHLB 09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
Book Value
September 30, 2022
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 GO-
Roads
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/
Parks
City - 2021
GO Parks
City - 2021
GO Roads
City - 2021A
CO Electric
City - 2021A
CO Water/WW
City - 2021A
GO Roads
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928 2,760,351 601,729 299,230 4,441,871 508,869 3,789,637 704,578 3,718,059 892,487 4,776,393 746,628 9,815,423 10,970,022
– – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – – – – 10,018,428
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – 4,021,211 – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – 2,501,850 – – – – 2,001,480
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – 2,523,090 –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – 2,016,185 – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928$ 2,760,351$ 601,729$ 299,230$ 6,458,056$ 508,869$ 3,789,637$ 704,578$ 10,241,120$ 892,487$ 4,776,393$ 746,628$ 12,338,513$ 22,989,929$
City of Georgetown Valley View Consulting, L.L.C.1165
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
Independent Bank CD 10/18/22Prosperity 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
Alliance Bank CD 12/24/22
East West Bank CD 12/26/22
R Bank CD 12/31/22
East West Bank CD 01/09/23
East West Bank CD 01/20/23
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23
East West Bank CD 02/15/23
Bank OZK CD 02/23/23
East West Bank CD 02/27/23
Veritex Community Bank CD 03/09/23
East West Bank CD 03/14/23
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23
FHLB 09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
Book Value
September 30, 2022
(Continued)
City - 2022
CO Airport
City - 2022 CO
Fac/Equip/Parks
City - 2022
CO
Stormwater
City - 2022
GO Parks
City - 2022
GO Roads
City - 2022
CO Electric
City - 2022 CO
Water/WW
City -
American
Rescue Plan
City - Impact
Fees - Water
City - Impact
Fees - WW
City - Limited
Tax Note,
Series 2022
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
502,911 2,820,758 11,099 630,834 14,035,128 9,707,212 169,195,999 7,915,225 35,202,665 – 4,004,568
– – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – 12,066,396 –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – 4,000,000 – – – – – – –
– – – – 7,768,451 – – – – –
– – – – – 5,890,623 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – 491,998 – – – – – – –
– – – – – – 25,633,091 – – – –
– – – – – – – – – – –
– – – – – – – – 25,168,439 – –
– – – – – – – – – – –
– – – – – – – – – – – – – – – 4,000,000 – – – – – –
– – – – 1,253,082 – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– 1,000,000 – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – 13,339,436 – – – – – –
– – – – – 894,020 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – 10,000,000 – – – –
502,911$ 3,820,758$ 503,097$ 4,630,834$ 40,396,097$ 16,491,855$ 204,829,090$ 7,915,225$ 60,371,104$ 12,066,396$ 4,004,568$
City of Georgetown Valley View Consulting, L.L.C.1266
City - Allocation
September 30, 2022
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 GO-
Roads
2015 Revenue
Water WW
2016 GO-
Roads
Garey Park
Donation
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Roads
JPMorgan Chase Cash 12,506,553$ 12,506,553$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,470 434,470 – – – – – – – – – – –
Veritex Community Bank MMA 3,238,147 3,238,147 – – – – – – – – – – –
Wells Fargo Bank Cash 16,727,590 16,727,590 – – – – – – – – – – –
NexBank MMA 12,488,723 12,488,723 – – – – – – – – – – –
TexPool 31,811,436 31,811,436 – – – – – – – – – – –
TexSTAR 341,500,283 28,675,146 452,616 2,934,215 138,208 1,528,939 1,541,884 922,302 1,067,755 7,841,897 57,072 368,747 1,728,899
Independent Bank CD 10/18/22 2,562,534 2,562,534 – – – – – – – – – – –
Prosperity Bank CD 10/24/22 5,014,211 5,014,211 – – – – – – – – – – –
East West Bank CD 11/15/22 10,018,428 – – – – – – – – – – – –
Prosperity Bank CD 11/17/22 2,014,712 2,014,712 – – – – – – – – – – –
Prosperity Bank CD 11/23/22 2,003,257 2,003,257 – – – – – – – – – – –
Prosperity Bank CD 12/21/22 5,007,505 5,007,505 – – – – – – – – – – –
Alliance Bank CD 12/24/22 8,050,411 8,050,411 – – – – – – – – – – –
East West Bank CD 12/26/22 12,066,396 – – – – – – – – – – – –
R Bank CD 12/31/22 1,007,557 1,007,557 – – – – – – – – – – –
East West Bank CD 01/09/23 5,025,900 5,025,900 – – – – – – – – – – –
East West Bank CD 01/20/23 10,035,553 10,035,553 – – – – – – – – – – –
Alliance Bank CD 02/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 02/04/23 7,768,451 – – – – – – – – – – – –
East West Bank CD 02/07/23 5,890,623 – – – – – – – – – – – –
East West Bank CD 02/08/23 8,042,865 8,042,865 – – – – – – – – – – – East West Bank CD 02/15/23 4,021,211 – – – – – – – – – – – –
Bank OZK CD 02/23/23 4,208,255 4,208,255 – – – – – – – – – – –
East West Bank CD 02/27/23 20,142,652 20,142,652 – – – – – – – – – – –
Veritex Community Bank CD 03/09/23 4,007,206 4,007,206 – – – – – – – – – – –
East West Bank CD 03/14/23 15,095,293 15,095,293 – – – – – – – – – – –
T-Bill 03/16/23 491,638 – – – – – – – – – – – –
T-Bill 03/16/23 25,614,354 – – – – – – – – – – – –
R Bank CD 03/23/23 4,503,330 – – – – – – – – – – – –
East West Bank CD 03/27/23 25,168,439 – – – – – – – – – – – –
Prosperity Bank CD 04/24/23 5,014,211 5,014,211 – – – – – – – – – – –
Prosperity Bank CD 05/01/23 5,013,387 5,013,387 – – – – – – – – – – –
Alliance Bank CD 05/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 05/04/23 1,253,082 – – – – – – – – – – – –
East West Bank CD 05/10/23 3,021,724 – – – – – – – – 3,021,724 – – –
Bank OZK CD 06/12/23 5,023,884 5,023,884 – – – – – – – – – – –
East West Bank CD 06/16/23 2,523,090 – – – – – – – – – – – –
Texas Capital Bank CD 06/16/23 5,000,000 5,000,000 – – – – – – – – – – –
East West Bank CD 06/20/23 15,132,051 15,132,051 – – – – – – – – – – –
FHLB 06/29/23 9,716,191 9,716,191 – – – – – – – – – – –
R Bank CD 06/30/23 1,009,182 1,009,182 – – – – – – – – – – –
Alliance Bank CD 07/01/23 4,031,255 4,031,255 – – – – – – – – – – –
East West Bank CD 08/01/23 2,016,185 – – – – – – – – – – – –
Alliance Bank CD 08/02/23 1,000,000 – – – – – – – – – – – –
Bank OZK CD 08/14/23 5,008,794 5,008,794 – – – – – – – – – – –
Texas Capital Bank CD 08/24/23 2,507,016 2,507,016 – – – – – – – – – – – FHLB 09/13/23 13,271,236 – – – – – – – – – – – –
FFCB 09/22/23 889,114 – – – – – – – – – – – –
Veritex Community Bank CD 09/25/23 10,025,029 10,025,029 – – – – – – – – – – –
Bank OZK CD 10/09/23 5,009,232 5,009,232 – – – – – – – – – – –
Bank OZK CD 11/13/23 10,025,098 10,025,098 – – – – – – – – – – –
Southside Bank CD 02/02/24 10,000,000 – – – – – – – – – – – –
Totals 730,957,743$ 280,615,304$ 452,616$ 2,934,215$ 138,208$ 1,528,939$ 1,541,884$ 922,302$ 1,067,755$ 10,863,622$ 57,072$ 368,747$ 1,728,899$
City of Georgetown Valley View Consulting, L.L.C.1367
City - Allocation
September 30, 2022
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
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
Alliance Bank CD 12/24/22
East West Bank CD 12/26/22
R Bank CD 12/31/22
East West Bank CD 01/09/23
East West Bank CD 01/20/23
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23East West Bank CD 02/15/23
Bank OZK CD 02/23/23
East West Bank CD 02/27/23
Veritex Community Bank CD 03/09/23
East West Bank CD 03/14/23
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23FHLB09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 GO-
Roads
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/
Parks
City - 2021
GO Parks
City - 2021
GO Roads
City - 2021A
CO Electric
City - 2021A
CO Water/WW
City - 2021A
GO Roads
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928 2,760,351 601,729 299,230 4,441,871 508,869 3,789,637 704,578 3,718,059 892,487 4,776,393 746,628 9,815,423 10,970,022
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – 10,018,428
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – – – – – – – – – – 4,021,211 – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – 2,501,850 – – – – 2,001,480
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – 2,523,090 –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – 2,016,185 – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928$ 2,760,351$ 601,729$ 299,230$ 6,458,056$ 508,869$ 3,789,637$ 704,578$ 10,241,120$ 892,487$ 4,776,393$ 746,628$ 12,338,513$ 22,989,929$
City of Georgetown Valley View Consulting, L.L.C.1468
City - Allocation
September 30, 2022
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
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
Alliance Bank CD 12/24/22
East West Bank CD 12/26/22
R Bank CD 12/31/22
East West Bank CD 01/09/23
East West Bank CD 01/20/23
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23East West Bank CD 02/15/23
Bank OZK CD 02/23/23
East West Bank CD 02/27/23
Veritex Community Bank CD 03/09/23
East West Bank CD 03/14/23
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23FHLB09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
(Continued)
City - 2022
CO Airport
City - 2022 CO
Fac/Equip/Parks
City - 2022
CO
Stormwater
City - 2022
GO Parks
City - 2022
GO Roads
City - 2022
CO Electric
City - 2022 CO
Water/WW
City -
American
Rescue Plan
City - Impact
Fees - Water
City - Impact
Fees - WW
City - Limited
Tax Note,
Series 2022
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
502,911 2,820,758 11,099 630,834 14,035,128 9,707,212 169,195,999 7,915,225 35,202,665 – 4,004,568
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – 12,066,396 –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – 4,000,000 – – – – – – –
– – – – 7,768,451 – – – – – –
– – – – – 5,890,623 – – – – –
– – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – 491,638 – – – – – – – –
– – – – – – 25,614,354 – – – –
– – – – – – – – – – –
– – – – – – – – 25,168,439 – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – 4,000,000 – – – – – –
– – – – 1,253,082 – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– 1,000,000 – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – – – – – – 13,271,236 – – – – – –
– – – – – 889,114 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – 10,000,000 – – – –
502,911$ 3,820,758$ 502,738$ 4,630,834$ 40,327,897$ 16,486,949$ 204,810,353$ 7,915,225$ 60,371,104$ 12,066,396$ 4,004,568$
City of Georgetown Valley View Consulting, L.L.C.1569
City - AllocationInvestment TotalConsolidated2014 Revenue Water WWDebt Service2015 CO-Parks/Streets/ Vehicles2015 CO-Stormwater 2015 GO-Roads2015 Revenue Water WW2016 GO- RoadsGarey Park DonationJPMorgan Chase Cash 25,104,108$ 25,104,108$ –$ –$ –$ –$ –$ –$ –$ –$ JPMorgan Chase MMA 434,217 434,217 – – – – – – – – Veritex Community Bank MMA 3,221,390 3,221,390 – – – – – – – – NexBank MMA 12,420,766 12,420,766 – – – – – – – – TexPool 55,821,493 55,821,493 – – – – – – – – TexSTAR 397,256,912 23,593,921 457,455 22,500,006 137,556 6,678 1,528,482 1,534,616 917,954 73,824 Prosperity Bank CD 07/01/224,031,414 4,031,414 – – – – – – – – Prosperity Bank CD07/25/225,011,684 5,011,684 – – – – – – – – Prosperity Bank CD08/01/225,010,860 5,010,860 – – – – – – – – East West Bank CD08/01/222,005,168 – – – – – – – – – East West Bank CD08/10/223,006,148 – – – – – – – – – East West Bank CD08/15/224,004,250 – – – – – – – – – Prosperity Bank CD08/22/222,513,866 2,513,866 – – – – – – – – Prosperity Bank CD09/12/225,010,009 5,010,009 – – – – – – – – East West Bank CD09/16/2210,007,523 10,007,523 – – – – – – – – East West Bank CD09/20/222,002,751 – – – – – – – – – East West Bank CD09/20/222,503,535 – – – – – – – – – Independent Bank CD 10/18/222,560,619 2,560,619 – – – – – – – – Prosperity Bank CD10/24/225,011,684 5,011,684 – – – – – – – – East West Bank CD11/15/2210,013,126 – – – – – – – – – East West Bank CD09/20/223,004,242 – – – – – – – – – Prosperity Bank CD11/17/222,012,682 2,012,682 – – – – – – – – Prosperity Bank CD11/23/222,002,500 2,002,500 – – – – – – – – Prosperity Bank CD12/21/225,005,612 5,005,612 – – – – – – – – Alliance Bank CD12/24/228,000,000 8,000,000 – – – – – – – – East West Bank CD12/26/2212,034,200 12,034,200 – – – – – – – – R Bank CD12/31/221,006,035 1,006,035 – – – – – – – – East West Bank CD01/09/235,020,582 5,020,582 – – – – – – – – East West Bank CD01/20/2310,022,661 10,022,661 – – – – – – – – East West Bank CD02/08/238,026,056 8,026,056 – – – – – – – – Bank OZK CD02/23/234,206,336 4,206,336 – – – – – – – – East West Bank CD02/27/2320,082,326 20,082,326 – – – – – – – – Veritex Community Bank CD 03/09/234,005,388 4,005,388 – – – – – – – – East West Bank CD03/14/2315,051,601 15,051,601 – – – – – – – – East West Bank CD03/27/2325,086,738 25,086,738 – – – – – – – – Prosperity Bank CD04/24/235,011,684 5,011,684 – – – – – – – – Prosperity Bank CD05/01/235,010,860 5,010,860 – – – – – – – – Bank OZK CD06/12/235,021,340 5,021,340 – – – – – – – – East West Bank CD06/16/2315,018,442 15,018,442 – – – – – – – – East West Bank CD06/20/232,504,463 – – – – – – – – – R Bank CD06/30/231,007,327 1,007,327 – – – – – – – – Bank OZK CD08/14/235,006,131 5,006,131 – – – – – – – – Veritex Community Bank CD 09/25/2310,018,714 10,018,714 – – – – – – – – Bank OZK CD10/09/235,006,690 5,006,690 – – – – – – – – Bank OZK CD11/13/2310,017,496 10,017,496 – – – – – – – – Totals745,141,630$ 342,434,956$ 457,455$ 22,500,006$ 137,556$ 6,678$ 1,528,482$ 1,534,616$ 917,954$ 73,824$ June 30, 2022Book & Market ValueCity of GeorgetownValley View Consulting, L.L.C.1670
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Community Bank MMANexBank MMATexPoolTexSTARProsperity Bank CD 07/01/22Prosperity Bank CD 07/25/22Prosperity Bank CD 08/01/22East West Bank CD 08/01/22East West Bank CD 08/10/22East West Bank CD 08/15/22Prosperity Bank CD 08/22/22Prosperity Bank CD 09/12/22East West Bank CD 09/16/22East West Bank CD 09/20/22East West Bank CD 09/20/22Independent Bank CD 10/18/22Prosperity Bank CD 10/24/22East West Bank CD 11/15/22East West Bank CD 09/20/22Prosperity Bank CD 11/17/22Prosperity Bank CD 11/23/22Prosperity Bank CD 12/21/22Alliance Bank CD 12/24/22East West Bank CD 12/26/22R Bank CD 12/31/22East West Bank CD 01/09/23East West Bank CD 01/20/23East West Bank CD 02/08/23Bank OZK CD 02/23/23East West Bank CD 02/27/23Veritex Community Bank CD 03/09/23East West Bank CD 03/14/23East West Bank CD 03/27/23Prosperity Bank CD 04/24/23Prosperity Bank CD 05/01/23Bank OZK CD 06/12/23East West Bank CD 06/16/23East West Bank CD 06/20/23R Bank CD 06/30/23Bank OZK CD 08/14/23Veritex Community Bank CD 09/25/23Bank OZK CD 10/09/23Bank OZK CD 11/13/23TotalsJune 30, 2022Book & Market Value(Continued)2017 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-Roads2020 CO-Facilities/Equip/Parks–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 4,352 97,560 8,140,317 56,803 390,299 244,693 1,810,657 3,682,519 2,757,188 602,671 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,006,148 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,503,535 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 4,352$ 97,560$ 11,146,466$ 56,803$ 390,299$ 244,693$ 1,810,657$ 6,186,054$ 2,757,188$ 602,671$ City of GeorgetownValley View Consulting, L.L.C.1771
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Community Bank MMANexBank MMATexPoolTexSTARProsperity Bank CD 07/01/22Prosperity Bank CD 07/25/22Prosperity Bank CD 08/01/22East West Bank CD 08/01/22East West Bank CD 08/10/22East West Bank CD 08/15/22Prosperity Bank CD 08/22/22Prosperity Bank CD 09/12/22East West Bank CD 09/16/22East West Bank CD 09/20/22East West Bank CD 09/20/22Independent Bank CD 10/18/22Prosperity Bank CD 10/24/22East West Bank CD 11/15/22East West Bank CD 09/20/22Prosperity Bank CD 11/17/22Prosperity Bank CD 11/23/22Prosperity Bank CD 12/21/22Alliance Bank CD 12/24/22East West Bank CD 12/26/22R Bank CD 12/31/22East West Bank CD 01/09/23East West Bank CD 01/20/23East West Bank CD 02/08/23Bank OZK CD 02/23/23East West Bank CD 02/27/23Veritex Community Bank CD 03/09/23East West Bank CD 03/14/23East West Bank CD 03/27/23Prosperity Bank CD 04/24/23Prosperity Bank CD 05/01/23Bank OZK CD 06/12/23East West Bank CD 06/16/23East West Bank CD 06/20/23R Bank CD 06/30/23Bank OZK CD 08/14/23Veritex Community Bank CD 09/25/23Bank OZK CD 10/09/23Bank OZK CD 11/13/23TotalsJune 30, 2022Book & Market Value(Continued)(Continued)2020 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/WWCity - 2021A GO Roads–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 353,184 4,980,437 565,520 4,094,819 701,257 3,206,013 1,001,795 5,438,763 895,989 10,029,762 10,915,481 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,005,168 – – – – – – – – – – – – – – – – – – – – – – – – – 4,004,250 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,002,751 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 10,013,126 – – – – – 3,004,242 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,504,463 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 353,184$ 6,985,605$ 565,520$ 4,094,819$ 701,257$ 10,214,504$ 1,001,795$ 5,438,763$ 895,989$ 12,534,225$ 22,931,359$ City of GeorgetownValley View Consulting, L.L.C.1872
City - AllocationJPMorgan Chase CashJPMorgan Chase MMAVeritex Community Bank MMANexBank MMATexPoolTexSTARProsperity Bank CD 07/01/22Prosperity Bank CD 07/25/22Prosperity Bank CD 08/01/22East West Bank CD 08/01/22East West Bank CD 08/10/22East West Bank CD 08/15/22Prosperity Bank CD 08/22/22Prosperity Bank CD 09/12/22East West Bank CD 09/16/22East West Bank CD 09/20/22East West Bank CD 09/20/22Independent Bank CD 10/18/22Prosperity Bank CD 10/24/22East West Bank CD 11/15/22East West Bank CD 09/20/22Prosperity Bank CD 11/17/22Prosperity Bank CD 11/23/22Prosperity Bank CD 12/21/22Alliance Bank CD 12/24/22East West Bank CD 12/26/22R Bank CD 12/31/22East West Bank CD 01/09/23East West Bank CD 01/20/23East West Bank CD 02/08/23Bank OZK CD 02/23/23East West Bank CD 02/27/23Veritex Community Bank CD 03/09/23East West Bank CD 03/14/23East West Bank CD 03/27/23Prosperity Bank CD 04/24/23Prosperity Bank CD 05/01/23Bank OZK CD 06/12/23East West Bank CD 06/16/23East West Bank CD 06/20/23R Bank CD 06/30/23Bank OZK CD 08/14/23Veritex Community Bank CD 09/25/23Bank OZK CD 10/09/23Bank OZK CD 11/13/23TotalsJune 30, 2022Book & Market ValueCity - 2022 CO AirportCity - 2022 CO Fac/Equip/ParksCity - 2022 CO StormwaterCity - 2022 GO ParksCity - 2022 GO RoadsCity - 2022 CO ElectricCity - 2022 CO Water/WWCity - American Rescue Plan–$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 500,540 3,585,906 500,540 40,243,441 4,793,330 18,179,872 210,854,798 7,877,912 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 500,540$ 3,585,906$ 500,540$ 40,243,441$ 4,793,330$ 18,179,872$ 210,854,798$ 7,877,912$ City of GeorgetownValley View Consulting, L.L.C.1973
________________________________________________________________________
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
September 30, 2022
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.
74
Annual Comparison of Portfolio Performance
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
MMA 0.08%2,131,487$ 2,131,487$ 3.08%2,147,122$ 2,147,122$
Pools 0.01%5,515,983 5,515,983 2.34%6,586,175 6,586,175
Certificates of Deposit 0.24%2,002,381 2,002,381 0.00%– –
Totals 9,649,850$ 9,649,850$ 8,733,297$ 8,733,297$
Fourth Quarter-End Yield 0.08%2.52%
Average Quarter-End Yields (1):
2021 Fiscal Year 2022 Fiscal Year
GEDCO 0.16%0.91%
Rolling Three Month Treasury 0.06%1.06%
Rolling Six Month Treasury 0.08%1.01%
TexPool 0.04%0.90%
(1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2021 September 30, 2022
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.175
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,136,008$ 2,136,008$ 2,147,122$ 2,147,122$ 3.08%
Pools 4,972,885 4,972,885 6,586,175 6,586,175 2.34%
Certificates of Deposit 2,005,978 2,005,978 – – 0.00%
9,114,870$ 9,114,870$ 8,733,297$ 8,733,297$ 2.52%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 2.52%Total Portfolio 0.91%
Rolling Three Month Treasury 2.76%Rolling Three Month Treasury 1.06%
Rolling Six Month Treasury 2.46%Rolling Six Month Treasury 1.01%
TexPool 2.41%TexPool 0.90%
Interest income provided in separate report.
June 30, 2022
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
September 30, 2022
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.276
Economic Overview9/30/2022The Federal Open Market Committee (FOMC) raised the Fed Funds target range 0.75% to 3.00% - 3.25% September 21st (Effective Fed Funds are trading +/-3.10%). The FOMC continued actively reducing their balance sheet. An additional 0.50% - 0.75% increase is currently anticipated November 2nd. Second Quarter GDP was confirmed at -0.6%. Domestic and international economies are slowing. September Non-Farm Payroll added 263k new jobs with a Three Month Average of 372k. Crude oil fell below $80 per barrel, but OPEC+ announced a target production reduction of 2 million barrels/day. The Stock Markets continued bouncing down and are +/-20% below the 2021 peak. The negatively sloped yield curve (6 months to 10 years, with peak yield at 3 years) may indicate lower future interest rates. Inflation remained well over the FOMC 2% target (Core PCE +/-4.9% and CPI exceeding 8%).02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,7504,0004,2504,5004,7505,0005,250S&P 5000.000.501.001.502.002.503.003.504.004.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.501.001.502.002.503.003.504.004.50Treasury Yield CurvesSeptember 30, 2021June 30, 2022September 30, 20220.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.377
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
Veritex Bank MMA 3.08%10/01/22 09/30/22 2,147,122$ 2,147,122$ 1.00 2,147,122$ 1 3.08%
TexasDAILY AAAm 2.43%10/01/22 09/30/22 2,140,620 2,140,620 1.00 2,140,620 1 2.43%
TexSTAR AAAm 2.29%10/01/22 09/30/22 4,445,555 4,445,555 1.00 4,445,555 1 2.29%
8,733,297$ 8,733,297$ 8,733,297$ 1 2.52%
(1)(2)
September 30, 2022
(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.478
MMA 25%
Pools 75%
Certificates of Deposit 0%
GEDCO PORTFOLIO COMPOSITION
$0
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
12/31/21 3/31/2022 6/30/2022 9/30/2022
GEDCO PORTFOLIO BALANCES
CD
TexasDAILY
TexSTAR
Money Market
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.579
Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
06/30/22 Increases Decreases Book Value
09/30/22
Market Value
06/30/22
Change in
Market Value
Market Value
09/30/22
Veritex Bank MMA 3.08%10/01/22 2,136,008$ 11,114$ –$ 2,147,122$ 2,136,008$ 11,114$ 2,147,122$
TexasDAILY 2.43%10/01/22 2,129,836 10,784 – 2,140,620 2,129,836 10,784 2,140,620
TexSTAR 2.29%10/01/22 2,843,049 1,602,506 – 4,445,555 2,843,049 1,602,506 4,445,555
Veritex Bank CD 0.24%8/5/2022 2,005,978 – (2,005,978) – 2,005,978 (2,005,978) –
TOTAL / AVERAGE 2.52%9,114,870$ 1,624,404$ (2,005,978)$ 8,733,297$ 9,114,870$ (381,573)$ 8,733,297$
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.680
Georgetown Transportation Enhancement Corporation (GTEC)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2022
Prepared byValley View Consulting, L.L.C.
___________________________________
Leigh Wallace
Finance Director
___________________________________
Karrie Pursley
____________________________________
Nathan Parras
Assistant Finance Director
____________________________________
Elaine Wilson
Assistant Finance DirectorTreasurer
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.
81
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Pools/MMAs 0.02%34,752,525$ 34,752,525$ 2.44%33,113,125$ 33,113,125$
CDs/Securities 0.15%3,012,460 3,012,460 3.22%5,018,515 5,018,515
Totals 37,764,985$ 37,764,985$ 38,131,640$ 38,131,640$
Fourth Quarter-End Yield 0.03%2.54%
Average Quarter-End Yields (1):
2021 Fiscal Year 2022 Fiscal Year
GTEC 0.06%0.92%
Rolling Three Month Treasury 0.06%1.06%
Rolling Six Month Treasury 0.08%1.01%
TexPool 0.04%0.90%
(1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
Annual Comparison of Portfolio Performance
September 30, 2021 September 30, 2022
Georgetown Transportation Enhancement Corporation (GTEC) Valley View Consulting, L.L.C.
182
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Pools/MMAs 36,655,075$ 36,655,075$ 33,113,125$ 33,113,125$ 2.44%
CDs/Securities 3,015,841 3,015,841 5,018,515 5,018,515 3.22%Totals 39,670,916$ 39,670,916$ 38,131,640$ 38,131,640$ 2.54%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 2.54%Total Portfolio 0.92%
Rolling Three Month Treasury 2.76%Rolling Three Month Treasury 1.06%
Rolling Six Month Treasury 2.46%Rolling Six Month Treasury 1.01%
TexPool 2.41%TexPool 0.90%
Interest data provided in separate report.
June 30, 2022
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total
return analysis or account for advisory fees.
September 30, 2022
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.283
Economic Overview9/30/2022The Federal Open Market Committee (FOMC) raised the Fed Funds target range 0.75% to 3.00% - 3.25% September 21st (Effective Fed Funds are trading +/-3.10%). The FOMC continued actively reducing their balance sheet. An additional 0.50% - 0.75% increase is currently anticipated November 2nd. Second Quarter GDP was confirmed at -0.6%. Domestic and international economies are slowing. September Non-Farm Payroll added 263k new jobs with a Three Month Average of 372k. Crude oil fell below $80 per barrel, but OPEC+ announced a target production reduction of 2 million barrels/day. The Stock Markets continued bouncing down and are +/-20% below the 2021 peak. The negatively sloped yield curve (6 months to 10 years, with peak yield at 3 years) may indicate lower future interest rates. Inflation remained well over the FOMC 2% target (Core PCE +/-4.9% and CPI exceeding 8%).02505007501,0001,2501,5001,7502,0002,2502,5002,7503,0003,2503,5003,7504,0004,2504,5004,7505,0005,250S&P 5000.000.501.001.502.002.503.003.504.004.50US Treasury Historical Yields - Since Nov 2015Six Month T-BillTwo Year T-NoteTen Year T-Note0.000.501.001.502.002.503.003.504.004.50Treasury Yield CurvesSeptember 30, 2021June 30, 2022September 30, 20220.000.501.001.502.002.503.003.504.004.505.005.506.00US Treasury Historical Yields - Since 2006Six Month T-BillTwo Year T-NoteTen Year T-NoteValley View Consulting, L.L.C.384
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
TexPool AAAm 2.41%10/01/22 09/30/22 21,549,395$ 21,549,395$ 1.00 21,549,395$ 1 2.41%
TexSTAR AAAm 2.29%10/01/22 09/30/22 8,854,459 8,854,459 1.00 8,854,459 1 2.29%
Veritex Bank MMA 3.08%10/01/22 09/30/22 2,709,271 2,709,271 1.00 2,709,271 1 3.08%
East West Bank CD 3.12%02/07/23 08/11/22 2,008,738 2,008,738 100.00 2,008,738 130 3.17%
East West Bank CD 3.21%05/25/23 08/25/22 3,009,777 3,009,777 100.00 3,009,777 237 3.26%
TOTALS 38,131,640$ 38,131,640$ 38,131,640$ 26 2.54%
(1)(2)
September 30, 2022
(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.485
Pools/MMAs 87%
CDs/Securities 13%
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
$45,000,000
12/31/2021 3/31/2022 6/30/2022 9/30/2022
GTEC PORTFOLIO BALANCES
CD
TexPool
TexSTAR
Money Market
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.586
Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
06/30/22 Increases Decreases Book Value
09/30/22
Market Value
06/30/22
Change in
Market Value
Market Value
09/30/22
TexPool 2.41%10/01/22 22,564,815$ –$ (1,015,420)$ 21,549,395$ 22,564,815$ (1,015,420)$ 21,549,395$
TexSTAR 2.29%10/01/22 11,395,010 – (2,540,551) 8,854,459 11,395,010 (2,540,551) 8,854,459
Veritex Bank MMA 3.08%10/01/22 2,695,250 14,021 – 2,709,271 2,695,250 14,021 2,709,271
Prosperity Bank CD 0.15%08/23/22 3,015,841 – (3,015,841) – 3,015,841 (3,015,841) –
East West Bank CD 3.17%02/07/23 – 2,008,738 – 2,008,738 – 2,008,738 2,008,738
East West Bank CD 3.26%05/25/23 – 3,009,777 – 3,009,777 – 3,009,777 3,009,777
TOTAL / AVERAGE 2.54%39,670,916$ 5,032,536$ (6,571,812)$ 38,131,640$ 39,670,916$ (1,539,276)$ 38,131,640$
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.687
DepartmentFederal GrantorPass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized AirportN/ATexas Department of Transportation-AviationM2214GEORRAMP Grant - Routine Airport Maintenance Program50,000 50,000 Emergency Management US Dept. of the TreasuryAmerican Rescue Plan Act SLFRF Funding 104,783 275,583 Fire US Department of Homeland Security Federal Emergency Management AgencyEMW-2017-FH-00496 SAFER 487,552 104,864 Planning US Department of Housing & Urban Development Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps along 17th St 26,302 26,302 Planning US Department of Housing & Urban Development Williamson County CDBG 21st St Infrastructure 39,389 37,000 Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair (FY19) 2,139 2,139 Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair (FY20) 75,000 75,000 Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair (FY21) 36,680 36,680 Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement - - Public WorksDept. of Transportation /Federal Highway AdministrationTexas Department of TransportationCSJ 0914-05-200, 201, 202 Highway Planning & Construction (Lakeway & Williams Drive) 229,984 229,984 Electric Dept. of Transportation /Federal Highway AdministrationTexas Department of TransportationCSJ 0015-08-150 Standard Utility Agreement (I35 Mobility) 336,929 336,929 Emergency Management FEMA* TDEM DR-4586PATXP00001 Winter Storm Uri Relief PRJ-240164 Water 20,124 20,124 Emergency Management FEMA* TDEM DR-4586PATXP00001 Winter Storm Uri Relief PRJ-187834 Citywide 387,252 387,252 Emergency Management FEMA* TDEM DR-4586PATXP00001 Winter Storm Uri Relief PRJ-Donated Resources 5,246 5,246 *Expenses were incurred in FY2021, but reported here since FEMA has now approved for reimbursement.Division GrantorCOG Name/Purpose StatusReviewed By: Elaine Wilson CITY OF GEORGETOWNGrant/Federal Funding Reportas of September 30, 2022Active Applications Pending Award88
City of Georgetown Capital Projects Life to Date Project Budget Total Spend Remaining Budget Percent Remaining
Airport - Self Managed
PRJ000198 Pavement Maintenance 60,000 - 60,000 100%
PRJ000199 Wildlife Management 150,000 18,000 132,000 88%
PRJ000197 Hangar Maintenance 240,000 - 240,000 100%
Airport - Self Managed Total 450,000 18,000 432,000 96%
CDBG
PRJ000003 17th Street 193,000 175,137 17,863 9%
PRJ000248 21st W/WW offsite CDBG 97,000 39,389 57,611 59%
CDBG Total 290,000 214,526 75,474 26%
Electric
PRJ000022 Consultant Engineering 271,352 100,825 170,527 63%
PRJ000026 Db Wood_Sh29 Intersection 240,000 170,413 69,587 29%
PRJ000036 Electrical System Improvement 100,000 20,045 79,955 80%
PRJ000062 New Development Projects 12,863,160 6,723,932 6,139,228 48%
PRJ000073 Power Quality Improvements 50,000 - 50,000 100%
PRJ000147 Sectionalization Improvements 1,787,531 - 1,787,531 100%
PRJ000175 I-35 Mobility Project TxDot 291,544 275,283 16,261 6%
PRJ000189 Ronald Reagan - Glasscock Feeder Extension along Hwy 195 -Phase I 560,000 219,767 340,233 61%
PRJ000192 Ronald Reagan - Glasscock Feeder extension along Hwy 195 - Phase II 591,250 266,699 324,551 55%
PRJ000195 Downtown Overhead Rehab 2,400,000 39,610 2,360,390 98%
PRJ000221 Titan-Aviation Dr to IH35 Infrastructure Addition 1,834,634 1,191,806 642,828 35%
PRJ000225 Chapel Hill, WS-11139 (GEO-45-C.3)558,411 452,642 105,769 19%
PRJ000226 Wolf Ranch West - Section 1AG & 1BG 635,363 500,769 134,594 21%
PRJ000227 Ascend Westinghouse Apartments 444,598 122,466 322,132 72%
PRJ000229 Sun City NH 76 WS-11188 (GEO-18.2-N.51)288,163 205,450 82,713 29%
PRJ000230 Sun City NH 78 296,400 118,796 177,604 60%
PRJ000231 Georgetown Titan Development 1 & 2 140,428 114,199 26,229 19%
PRJ000232 Texas Outdoor Power Building 1 91,414 63,188 28,226 31%
PRJ000234 Summit at Westinghouse Self-Storage 223,812 35,911 187,901 84%
PRJ000236 Medcore (Georgetown) Senior Living 330,770 228,423 102,347 31%
PRJ000238 The Oscar at Georgetown 366,351 225,463 140,888 38%
PRJ000239 Wolf Ranch West - Section 3 - Phase 2 865,561 (58,235) 923,796 107%
PRJ000242 Allora North Georgetown 557,422 109,278 448,143 80%
PRJ000243 Fairfield Inn - WS11346 131,340 43,084 88,256 67%
PRJ000245 Morgan Mays Street Apartments 452,508 121,529 330,979 73%
PRJ000246 Vida Apartments 198,248 55,209 143,040 72%
PRJ000247 Georgetown (Longhorn) Travel Center Rev 193,845 4,340 189,505 98%
PRJ000250 Georgetown Infiniti 135,633 47,538 88,094 65%
PRJ000269 Substation Feeder Exits and Extensions 250,000 - 250,000 100%
PRJ000270 System Improvements - Power Quality 661,650 61,632 600,018 91%
PRJ000271 System Improvements - Capacity Upgrades 8,063,593 41,075 8,022,518 99%
PRJ000272 Wolf Lakes 566,109 470,425 95,685 17%
PRJ000273 The Grove II Townhomes 108,924 7,967 100,957 93%
PRJ000282 ANB Systems - Interconnection Service Portal 80,000 30,986 49,014 61%
PRJ000283 Partners Software and Implementation 120,864 100,611 20,253 17%
PRJ000284 Woodgate Development 195,933 33,580 162,353 83%
PRJ000285 Titan NorthPark 35 - Building 3 121,842 25,122 96,720 79%
PRJ000286 Wolf Ranch West - Section 2G 489,900 127,866 362,034 74%
PRJ000287 Gateway 35 - Building 1 266,676 127,472 139,204 52%
PRJ000288 Round Rock 2 Apartments 509,917 409,248 100,669 20%
PRJ000289 Wolf Lakes Offsite Utility 307,445 129,821 177,624 58%
PRJ000290 Windmill Hill Blue Ridge Drive Extension 292,696 136,856 155,840 53%
PRJ000291 Chick-Fil-A Expansion at WR SC 72,396 27,790 44,606 62%
PRJ000292 Aviation Drive Extension - Lift Station 116,456 57,098 59,358 51%
PRJ000296 Sun City NH10 - Phase B 122,543 59,538 63,005 51%
PRJ000299 Wolf Lakes Apartments - Hines Tract 446,777 25,505 421,272 94%
PRJ000300 Wolf Lakes Bella Lago Underground Extension 328,654 206,766 121,888 37%
PRJ000301 Titan NorthPark 35 - Building 5 166,073 17,573 148,500 89%
PRJ000302 Somerset Hills - Phase A-B 58,367 58,367 - 0%
PRJ000303 Westinghouse Retail Center at Windmill Hill 69,152 18,055 51,096 74%
PRJ000305 Medical Towers at Georgetown 96,487 18,622 77,865 81%
PRJ000306 Toolman Business Park 168,802 20,636 148,166 88%
PRJ000307 Sonrisa MOB, WS-11306, MPN-21-19 200,110 16,506 183,605 92%
PRJ000308 Sun City Neighborhood 77 306,196 190,829 115,366 38%
PRJ000309 Sun City NH 80 166,562 17,064 149,498 90%
PRJ000312 Dutch Bros. Coffee at 1309 W. University 38,354 4,434 33,920 88%
PRJ000313 Rivery Crossing (WS# 11264)156,254 9,823 146,431 94%
PRJ000314 Hewlett Volkswagen 2022 Remodel (MPN# 21-106)43,767 3,530 40,237 92%
PRJ000315 Hope Ranch (MPN# 21-104)118,282 11,051 107,231 91%
PRJ000316 Wolf Lakes HEB (MPN# 21-95)219,543 58,445 161,097 73%
PRJ000317 Blue Springs Business Park (MPN# 21-108)474,203 28,096 446,108 94%
PRJ000318 Costco 270,223 19,488 250,735 93%
PRJ000319 Georgetown Logistics (MPN# 21-87)453,870 378,473 75,397 17%
PRJ000320 Amazon Sortation Facility - 16,223 (16,223) 0%
PRJ000321 Wolf Lakes - Bella June Extension 201,850 19,659 182,192 90%
PRJ000329 Sun City NH 79 (MPN# 22-14)149,174 8,134 141,040 95%
PRJ000330 2021 Airport Road Upgrade 484,281 - 484,281 100%
PRJ000331 Quail Valley (Phase 1) URD Voltage Conversion 240,344 39,018 201,326 84%
PRJ000334 Sun City Northpoint Amenity Center (MPN# 22-36)43,096 1,822 41,275 96%
PRJ000335 Stonemont Windmill Hill Industrial (MPN# 22-32)115,968 - 115,968 100%
PRJ000336 Wolf Lakes Ascension Seton Georgetown MOB (MPN# 22-9)114,712 8,800 105,911 92%
89
City of Georgetown Capital Projects Life to Date Project Budget Total Spend Remaining Budget Percent Remaining
PRJ000340 Cellink (Gateway35 - Building 1) (MPN# 22-37)1,234,057 118,554 1,115,503 90%
PRJ000341 Gateway35 Building 3 (MPN# 22-27)276,306 191,945 84,360 31%
PRJ000342 Gateway35 Building 2 (MPN# 22-28)152,469 97,043 55,426 36%
PRJ000343 Gantt Serenada Subdivision (MPN# 22-44)25,414 18,510 6,903 27%
PRJ000345 Baylor Scott & White Expansion 147,236 12,116 135,120 92%
PRJ000346 Novak Chandra Multifamily - Wolf Lakes Village 536,146 20,964 515,182 96%
PRJ000347 Titan NorthPark 35 – Building 6 (MPN# 22-47)377,275 24,793 352,482 93%
PRJ000348 The Summit at Westinghouse (MPN# 22-26)358,809 19,726 339,082 95%
PRJ000351 Sun City Neighborhood 66 & 92 - Phase 1 (MPN#22-39)717,139 32,485 684,654 95%
PRJ000360 Windmill Hill – Commerce Blvd Expansion 81,250 2,034 79,216 97%
PRJ000365 Wellhouse Business Park 22-61 - 153,766 (153,766) 0%
PRJ000368 WILCO Children’s Advocacy Center 2022 Addition (MPN# 22-52)- 2,989 (2,989) 0%
PRJ000381 Sun City NH 66 & 92 (MPN#22-39)239,213 71,210 168,003 70%
PRJ000386 Rock Springs Hospital Expansion 2022 (MPN# 22-81)197,284 13,578 183,706 93%
Electric Total 48,720,378 15,222,152 33,498,227 69%
Environmental Services
PRJ000116 Transfer Station 11,000,000 805,953 10,194,047 93%
Environmental Services Total 11,000,000 805,953 10,194,047 93%
Finance
PRJ000038 ERP Project 6,231,654 6,060,812 170,842 3%
Finance Total 6,231,654 6,060,812 170,842 3%
Fire
PRJ000134 SCBA Replacement 1,170,000 840,934 329,066 28%
PRJ000135 Cardiac Monitors 633,517 483,517 150,000 24%
Fire Total 1,803,517 1,324,451 479,066 27%
Fleet
PRJ000124 Radio Replacement 1,565,278 216,877 1,348,401 86%
PRJ000279 Electric Bond Funded Vehicles - FY22 1,065,000 412,738 652,263 61%
PRJ000280 Fire Bond Funded Vehicles - FY22 2,008,000 1,896,440 111,560 6%
PRJ000281 Police Bond Funded Vehicles - FY22 1,277,000 - 1,277,000 100%
PRJ000366 Electric Bond Funded Vehicles - FY23 1,241,940 - 1,241,940 100%
PRJ000388 Stormwater Vehicles/Equipment - FY 22 280,000 - 280,000 100%
Fleet Total 7,437,218 2,526,054 4,911,164 66%
GTEC Department
PRJ000046 FM 971/ Fontana (Nw Bridge)1,209,000 1,206,390 2,610 0%
PRJ000060 Rabbit Hill Road 4,100,000 577,175 3,522,825 86%
PRJ000145 Sh29 Signal And Roadway Improvements 1,595,000 409,115 1,185,885 74%
PRJ000181 Aviation Drive 10,300,000 6,517,938 3,782,062 37%
PRJ000183 Costco 2,000,000 - 2,000,000 100%
PRJ000203 FM1460 Widening 300,984 - 300,984 100%
PRJ000265 Project Diana (Witteria Way - Gateway 35)1,700,000 1,143,426 556,574 33%
GTEC Department Total 21,204,984 9,854,044 11,350,940 54%
Management Services
PRJ000029 Downtown Parking Garage 291,483 142,130 149,354 51%
PRJ000033 Dtwn Landsping & Public Art 5,746 5,746 - 0%
PRJ000042 Fire Station 6 5,500,000 5,338,029 161,971 3%
PRJ000043 Fire Station 7 7,198,744 6,470,715 728,030 10%
PRJ000131 Fuel Station 1,100,000 77,116 1,022,884 93%
PRJ000136 GMC Remodel Phase I 560,000 564,685 (4,685) -1%
PRJ000178 Public Safety Operation and Training Center Phase II 6,000,000 53,690 5,946,310 99%
PRJ000179 Recreation Center Teen/Senior Renovation 247,979 - 247,979 100%
PRJ000184 Airport Maintenance Facility 1,250,000 - 1,250,000 100%
PRJ000191 Georgetown City Center - Festival/Public Space 5,333,036 78,388 5,254,648 99%
PRJ000223 Wayfinding Signage 275,000 - 275,000 100%
PRJ000252 Fire Logistics Building 2,550,000 1,312 2,548,688 100%
PRJ000337 Downtown Austin Ave Parking Garage - ARPA 7,800,000 203,583 7,596,417 97%
PRJ000389 Tax Note Project Management, Series 2022 4,000,000 - 4,000,000 100%
Management Services Total 42,111,989 12,935,393 29,176,596 69%
Parks
PRJ000048 Garey Park 15,346,730 15,282,581 64,149 0%
PRJ000125 Parks Master Plan 229,998 225,408 4,590 2%
PRJ000126 Regional Trail Development 1,347,684 851,445 496,239 37%
PRJ000129 Ada Transition Plan 1,075,982 818,720 257,262 24%
PRJ000190 Heritage Gardens 275,860 248,153 27,707 10%
PRJ000240 South Main Plaza 339,414 269,044 70,370 21%
PRJ000249 GVPID Landscape Improvements 61,500 53,150 8,350 14%
PRJ000253 Southeast Community Park 14,500,000 - 14,500,000 100%
PRJ000278 Regional Trail Improvements 694,000 26,280 667,720 96%
PRJ000293 San Gabriel Park - Phase 3 7,813,870 323,981 7,489,889 96%
PRJ000322 Crystal Knoll Park 250,000 34,050 215,950 86%
PRJ000323 Madison Oaks Park 50,000 9,425 40,575 81%
PRJ000324 Vista Vera Park 250,000 28,375 221,625 89%
PRJ000326 Westhaven Park I and II 250,000 24,950 225,050 90%
PRJ000327 La Conterra Park 250,000 27,700 222,300 89%
PRJ000328 Waypoint Park 200,000 4,650 195,350 98%
PRJ000364 Bark Park Pet Memorial 25,000 700 24,300 97%
90
City of Georgetown Capital Projects Life to Date Project Budget Total Spend Remaining Budget Percent Remaining
PRJ000385 Garey Park - Phase II 1,000,000 - 1,000,000 100%
Parks Total 43,960,037 18,228,611 25,731,426 59%
Public Works Department
PRJ000063 Northwest Blvd Bridge 421,578 421,578 - 0%
PRJ000137 Intersection Improvements (Lakeway @ Williams Drive)1,759,578 1,128,340 631,238 36%
PRJ000138 Downtown Sidewalks 3,679,978 1,463,672 2,216,306 60%
PRJ000139 Westinghouse - Scenic Lake Traffic Signal 600,000 301,723 298,277 50%
PRJ000140 Austin Ave Bridges 10,184,000 89,254 10,094,746 99%
PRJ000141 Southwestern Blvd 4,200,000 750,777 3,449,223 82%
PRJ000143 Leander Rd(Norwood-Swbypass)6,750,000 493,621 6,256,379 93%
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%
PRJ000188 DB Wood (SH 29 to Oak Ridge)18,000,000 1,478,947 16,521,053 92%
PRJ000202 FM 971 5,821,392 5,482,475 338,917 6%
PRJ000207 Northwest Blvd Bridge 5,527,427 11,559,326 (6,031,899) -109%
PRJ000209 Southeast Inner Loop 10,521,000 8,638,707 1,882,293 18%
PRJ000210 2021 HIPR Street Maintenance 2,300,000 2,117,517 182,483 8%
PRJ000211 2021 High Performance Pavement Seal Project #1 785,719 712,642 73,077 9%
PRJ000212 2021 High Performance Pavement Seal Project #2 515,698 491,261 24,437 5%
PRJ000214 Intersection Improvements (Traffic Signals)1,650,000 1,057,072 592,928 36%
PRJ000215 2021 Intersection Safety Enhancements (RRFB)475,166 284,302 190,864 40%
PRJ000216 FY21 Downtown Sidewalk Improvements 1,000,000 85,550 914,450 91%
PRJ000217 SW Bypass - Wolf Ranch Extension 35,523 35,523 - 0%
PRJ000254 Shell Road 12,503,000 - 12,503,000 100%
PRJ000255 Rockride Lane 5,776,000 71,288 5,704,712 99%
PRJ000256 Westinghouse Road 8,200,000 4,100,000 4,100,000 50%
PRJ000257 Sam Houston Ave Ext/SE1/Wilco Corridor 4,000,000 1,001,217 2,998,783 75%
PRJ000258 DB Wood (Oak Ridge to Williams Dr)21,163,600 2,165 21,161,435 100%
PRJ000267 Allocations - Intersections/Bike Lanes/Sidewalks - MB21 10,800,000 - 10,800,000 100%
PRJ000277 Intersection Improvements - FY22 1,162,150 - 1,162,150 100%
PRJ000294 2022 HIPR 2,999,466 255,500 2,743,966 91%
PRJ000295 2022 High Performance Pavement Seal 1,245,021 695,817 549,204 44%
PRJ000297 Southeast Inner Loop - MB21 32,777,940 45,487 32,732,453 100%
PRJ000304 Memorial Drive 3,100,000 - 3,100,000 100%
PRJ000310 Southwest Bypass (Wolf Ranch Parkway to SH29)2,000,000 1,000,000 1,000,000 50%
Public Works Department Total 182,725,218 45,642,569 137,082,649 75%
Right of Way
PRJ000007 Access Rtw To Government Srv 220,000 - 220,000 100%
PRJ000200 Access Rtw To Government Srv 220,000 220,000 - 0%
Right of Way Total 440,000 220,000 220,000 50%
Stormwater
PRJ000004 18th and Hutto Drainage 164,793 8,133 156,660 95%
PRJ000024 2020 Curb & Gutter 1,055,000 712,084 342,916 33%
PRJ000104 Stormwater Infrastructure 347,000 145,295 201,705 58%
PRJ000149 Drainage Improvement/Flood Mitigation Projects 20,000 - 20,000 100%
PRJ000213 2021 Curb & Gutter Project 500,000 55,800 444,200 89%
PRJ000274 2022 Curb & Gutter 500,000 31,990 468,010 94%
Stormwater Total 2,586,793 953,302 1,633,492 63%
Water
PRJ000014 Berry Creek Inter.49,949,000 2,616,858 47,332,142 95%
PRJ000017 Cedar Breaks Est 3,385,000 - 3,385,000 100%
PRJ000023 Cr 255 (Wd14-2)1,817,359 - 1,817,359 100%
PRJ000057 Lift Station Upgrade 1,073,593 8,593 1,065,000 99%
PRJ000059 LWTP Raw Water Intake Rehab 6,750,000 5,592,819 1,157,181 17%
PRJ000066 Park Lift Station & Force Main 2,025,678 2,115,383 (89,705) -4%
PRJ000096 Shell Road Water Line 6,890,000 990,649 5,899,351 86%
PRJ000101 Southlake Wtp 278,000,000 18,951,824 259,048,176 93%
PRJ000119 Water Mains 643,855 463,473 180,382 28%
PRJ000150 Carriage Oaks Transmission 5,450,000 92,538 5,357,462 98%
PRJ000152 Hoover Pump Station 13,550,000 979,566 12,570,434 93%
PRJ000154 Stonewall Ranch Pump Station Improvements 3,100,000 174,345 2,925,655 94%
PRJ000155 Southside Water Treatment Plant 6,426,706 1,215,403 5,211,303 81%
PRJ000156 Gatlin/Teravista Improvements 450,000 - 450,000 100%
PRJ000157 Leander Interconnect 340,245 316,601 23,644 7%
PRJ000160 Round Rock Supply Pump Station And Elevated Storage Tank 10,500,000 890,717 9,609,283 92%
PRJ000161 Miscellaneous Line Upgrades 1,336,301 571,071 765,230 57%
PRJ000162 South West Bypass Water (H24-1)2,384,083 2,384,594 (511) 0%
PRJ000163 Tank Rehabilitation 4,099,536 401,516 3,698,020 90%
PRJ000165 San Gabriel WWTP Rehabilitation 18,757,307 1,078,167 17,679,141 94%
PRJ000167 San Gabriel Inter SGI -2 4,500,000 - 4,500,000 100%
PRJ000168 WWTP Upgrade 950,000 208,142 741,858 78%
PRJ000177 Northlake WTP Phase IV Expansion 15,000,000 9,049,751 5,950,249 40%
PRJ000185 Cimarron Hills Wastewater Treatment Plant Expansion 5,300,000 194,812 5,105,188 96%
PRJ000218 EARZ Wastewater Rehabilitation Area 2 - 2019 2,559,897 2,310,949 248,948 10%
PRJ000219 Southside GST Foundation Improvements 535,678 485,678 50,000 9%
PRJ000228 Southside GST Roof Rehab 791,500 599,500 192,000 24%
PRJ000241 2020 - 2021 EARZ - Area 3 1,708,572 462,680 1,245,892 73%
PRJ000259 Pecan Branch WWTP Expansion 37,000,000 31,320 36,968,680 100%
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City of Georgetown Capital Projects Life to Date Project Budget Total Spend Remaining Budget Percent Remaining
PRJ000260 CR 262 Waterline 2,500,000 64,158 2,435,842 97%
PRJ000261 Dove Springs WWTP Rehabilitation 12,098,663 348,921 11,749,742 97%
PRJ000262 Wolf Ranch Expansion and Force Main 5,900,000 - 5,900,000 100%
PRJ000263 Water - Wastewater Master Plan 1,225,000 614,948 610,052 50%
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 18,525,000 563,071 17,961,929 97%
PRJ000275 FY2022 EARZ -Area 4 2,000,000 - 2,000,000 100%
PRJ000333 Smith Branch Lift Station Improvements 1,300,000 - 1,300,000 100%
PRJ000387 IH35 Waterline Connection 2,500,000 20,700 2,479,300 99%
Water Total 541,322,973 53,798,747 487,524,226 90%
Water Operations
PRJ000220 AMI Equipment Upgrades 7,750,000 - 7,750,000 100%
Water Operations Total 7,750,000 - 7,750,000 100%
Grand Total 918,034,760 167,804,611 750,230,150 82%
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Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 06/30/22 Status Updates ‐ 09/30/22Unfunded Actuarial Accrued Liability (UAAL)Recognizes the outstanding liability for the City’s employee retirement plan through TMRS. The City contributes monthly to fund the UAAL, based on an annual percentage of payroll. Actual % of payroll costs is recognized within each fund. The UAAL is provided by TMRS and lags one year.The City's FY2021 year‐end unfunded liability was estimated at $21.5M. This increase in liability is due to a change in the actuarial assumptions. The plan is 89.2% funded, which is an excellent funding ratio. The funded ratio has steadily increased from the low 80's over the past 5 years. No change. This figure is calculated once annually.Not yet calculated for FY2022.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 9/30/21 is $4.9 million. No change. This report is conducted bi‐annually.No change. The new bi‐annual report is still under review.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 9/30/21 are $8.4 million. No change. This calculation is performed once annually.Not yet calculated for FY2022.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 update Grant requests fund between 80%‐90% when approved by TxDOT and/or the FAA. The City’s matching 10%‐20% will be planned and budgeted through the 5yr CIP forecast and annual budget approval process. Staff recommend removing this item from the list next quarter. CITY OF GEORGETOWNLong-term Commitments, Reservations, and Other Unfunded Liabilities09/30/202293
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 06/30/22 Status Updates ‐ 09/30/22CITY OF GEORGETOWNLong-term Commitments, Reservations, and Other Unfunded Liabilities09/30/2022Americans 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 South San Gabriel River trail are under design. The final trail and park ADA improvements are scheduled to be completed in FY23.No Change94
Unfunded Liability & CommitmentsFinancial Impact/Notes Status Updates ‐ 06/30/22 Status Updates ‐ 09/30/22CITY OF GEORGETOWNLong-term Commitments, Reservations, and Other Unfunded Liabilities09/30/2022Sidewalk 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 and FY 20 Downtown sidewalk project is wrapping up and substantially completed. FY21 and FY 22 Downtown Priority 1 sidewalk projects are in design. Coordination between stakeholders is ongoing and we plan to be able to advertise and bid the project in the fall of 2022. Rock Sidewalk and FY 20 Downtown sidewalk project is wrapping up and substantially completed. FY21 and FY 22 Downtown Priority 1 sidewalk projects are in design. Coordination between stakeholders is ongoing and we plan to be able to advertise and bid the project in Jan/Feb 2023. Radio 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. $627,000 was included in the FY2023 budget to finish this program. FY2022 Radios were orderd. So far, we have received 22 of the 101 radios ordered. FY2023 radios ‐ Waiting on updated quotes. We estimate City Council agenda approval in December 2022 or January 2023.Street MaintenanceThe City funds street maintenance in the General Fund, supplemented by a 1/8th Street Sales Tax special revenue fund. In 2017 and 2018, the Council and GTAB reviewed various methods for enhanced street maintenance and costs. Direction from Council is to use high performance surface seals and pavement wearing courses and begin programmatically addressing the street network's deferred maintenance backlog, creating a need for approximately $2 million more per year for street maintenance.2022 HIPR (Cutler), 2022 High Performance Pavement Seal #1 (PMM) and 2022 High Performance Pavement Seal #2 (HA5). These projects have been awarded by City Council. Contractors to start on these project in September. Pre‐construction meetings are being scheduled and neighborhood schedules will be going out to notify residents. The election is schedule for November 2022.2022 High Performance Pavement Seal #1 and #2 projects are completed. 2022 HIPR is in construction and has completed the work in downtown and is now working in the Reatta Trails area off of Williams Drive. 95