HomeMy WebLinkAboutRES 082818-J - GTEC BudgetRESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN, TEXAS,
ACCEPTING THE 2019 PROPOSED PROJECT LIST OF THE GEORGETOWN
TRANSPORTATION ENHANCHMENT CORPORATION (GTEC), AND APPROVING
THE 2019 GTEC BUDGET.
WHEREAS, the City is required by State Law, the Amended Articles of Incorporation, and the
Bylaws of the Georgetown Transportation Enhancement Corporation (GTEC), previously established
pursuant to Vernon's Rev. Civ. Stat. Ann., Article 5190.6 Section 4(B) to approve GTEC's annual
operating budget: and
WHEREAS, projects identified in the 2019 Project List are incorporated into the annual budget of
GTEC,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this resolution are hereby
found and declared to be true and correct, and are incorporated by reference herein and expressly made
a part hereof, as if copied verbatim.
SECTION 2. The City Council of the City of Georgetown hereby accepts the proposed project list
included in the 2019 Georgetown Transportation Enhancement Corporation (GTEC) budget as approved
by the GTEC Board on June 20, 2018.
SECTION 3. Budgetary expenses, such as administrative and non -project specific expenses
may be expended on or after the date of this resolution.
RESOLVED this 28 day of August, 2018.
ATTEST:
Shelley Nowin r`
City Secre ry J/
APPROV E3'AS TO FORM:
Charles M ab
City Attorney
Resolution No. n') 0 i O - J
Description: 2019 GTEC Budget Resolution
Date Approved: August 28, 2018
THE ITY OF GEO GETOWN:
4
By: Dale Ross
Mayor
Page 1 of 1
400 - GTEC
Beginning Fund Balance
1 11,022,877
14,921,796
Capital Improvement
5,017,584.
Budget0Budget
7,206,309
Changes
Bond Proceeds
6,119,010
-
3,330,135
7,200,000
7,200,000
Sales Tax
6,275,734
6,575,000
6,775,000
7,073,100
7,073,100
Other Revenue
2,726,020
127,000
253,222
190,000
190,000
Transfer In
521,612
553,201
553,201
-
_
Grand Total
15 642,375
7,255,201.
7,581,423
14,463,100
14.463.100
Capital Improvement
5,017,584.
15,216,240
7,206,309
12,468,275
12,468,275
Debt Service
3,538,712
3,330,135
3,330,135
3,438,747
!j 3,438,747
Allocation Expense
1 329,400
363,314
363,314 1
390,897
390,897
Other
201
1,500
1,550.
800
800
Grand Total
8,885,897
18,911,189
10,901,308
16,298,719.
16298,719
Ending Fund Balance
CAFR Adjustment
Contingency 25% of Op Rev
Reserved Bond Proceeds
Available Fund Balance
17,779,355 ; 6,585,693
462,326 -
1,468,750_ 1,643,750
-C -
16, 772,931 I 4,941,943
14,921,796_. _ 13,086,177
1,643,750 �� 1,768,275
1,650,000
11, 628,046 11,317,902
13,086,177
1,768,275
11,317,902