HomeMy WebLinkAboutAgenda_GTEC_06.15.2016Notice of Meeting for the
Georgetown Transportation Enhancement Corp and the Gov erning Body
of the City of Georgetown
June 15, 2016 at 3:30 PM
at the GMC Building - 300-1 Industrial Av e., Georgetown, TX 78626
The City o f G eo rgeto wn is committed to comp lianc e with the Americans with Dis abilities Ac t (ADA). If yo u
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Office, at leas t three (3) days prior to the sc hed uled meeting d ate, at (512) 930-3652 o r City Hall at 113 Eas t 8th
Street fo r add itional info rmation; TTY us ers ro ute through Relay Texas at 711.
Regular Session
(This Regular S es s io n may, at any time, b e rec es s ed to convene an Exec utive S es s io n fo r any p urpose
authorized b y the Op en Meetings Act, Texas Go vernment Co d e 551.)
A Call to Ord er
The Board may, at any time, rec es s the R egular S es s io n to convene in Exec utive S es s io n at the reques t of
the Chair, a Board Memb er, the City Manager, As s is tant City Manager, G eneral Manager of Utilities, City
Co uncil Member, o r legal c o uns el for any p urpos e authorized b y the Op en Meetings Act, Texas
Government C o d e Chapter 551, and are s ubjec t to actio n in the Regular Ses s ion that follows .
B Introduction of Vis itors
C Ind ustry/C AMP O/TXDOT Updates
D Dis cus s ion regard ing the Projec t Progres s Reports and Time Lines. – Bill Dryd en, P.E., Transportatio n
Engineer, and Ed ward G. Polasek, AICP, Trans portation S ervic es Direc tor.
E Pres entatio n o f Georgetown Trans p o rtation Enhanc ement Co rp o ration mo nthly financ ial reports for May
2016. Leigh Wallace, F inance Direc tor, C OG, Financ e Manager, GTEC.
F Sales tax pres entatio n regarding FY2016 and FY2017 projec ted s ales tax c o llectio ns. - Paul Diaz, Bud get
Manager
Legislativ e Regular Agenda
G Co nsideration and possible actio n to approve minutes from the regular GTEC Bo ard meeting held May
18, 2016. David Mo rgan, General Manager - GTEC
H Dis cus s ion and pos s ible actio n to ad o pt the FY2017 proposed GTEC b udget and s et a date for the
pub lic hearing on the p ro p o s ed bud get. Leigh Wallac e, Financ e Director, COG, F inance Manager, GT EC
Adjournment
CERTIFICATE OF POSTING
I, Shelley No wling, C ity S ecretary fo r the C ity of Geo rgeto wn, Texas , d o hereby c ertify that this Notice of
Meeting was p o s ted at City Hall, 113 E. 8th Street, a p lace read ily acc es s ible to the general p ublic at all times ,
Page 1 of 72
on the ______ d ay o f __________________, 2016, at __________, and remained so p o s ted fo r at leas t 72
c o ntinuo us ho urs p receding the sc heduled time o f s aid meeting.
____________________________________
S helley No wling, City Sec retary
Page 2 of 72
City of Georgetown, Texas
Transportation Enhancement Corp
June 15, 2016
SUBJECT:
Disc ussion regarding the P ro ject Progres s Reports and Time Lines . – Bill Dryd en, P.E., Transportatio n
Engineer, and Edward G. P o las ek, AICP, Trans p o rtatio n Services Direc tor.
ITEM SUMMARY:
GTEC P ro jec ts
FM 1460 ROW & Utility Relo cations – Projec t No. 5RB
Mays S treet Extension (Teravista Parkway to Westinghous e Ro ad) – P ro ject No . 5RI
NB F ro ntage Road (SS 158 to Lakeway Dr.) – Projec t No. 5QY
Northwes t Blvd Overp as s – Projec t No . 5QX
Rivery Boulevard Extens io n (Williams to No rthwest Blvd ) – Projec t 5RM
Snead Drive – Projec t 5QZ
GTEC Projec t Update & Status Rep o rt
GTAB Projec ts
Aus tin Avenue Bridges P ro ject
CDBG Sidewalk Imp ro vements
- MLK/3rd St (Scenic Dr. to Aus tin Ave.)
- University Ave. (I 35 to Hart St.)
FM 971 R ealignment at Aus tin Avenue
FM 1460 Imp ro vements Projec t
Jim Ho gg Drive/Road at Williams Drive
Southwes t Bypass Projec t (Leander Road to I 35)
Trans it Development Plan
Trans portation S ervic es Operatio ns – CIP Maintenance
2015 Ro ad Bond P ro gram
S o uthwes t Bypass (Leander Dr./RM 2243 to Wolf Ranch Parkway Extensio n) and Wolf
R anc h Parkway Extension (SW Bypas s to DB Wo o d Rd .)
FINANCIAL IMPACT:
None
SUBMITTED BY:
Bill Dryden, P.E., Trans portation Engineer
ATTACHMENTS:
Description Type
June 2016 - Project Progres s Reports Backup Material
GTEC - Project Status - 2016-06 Backup Material
Page 3 of 72
June 2016 - GTAB Project Progres s Reports Backup Material
2015 Road Bond Program Projects Progress Reports Backup Material
Page 4 of 72
FM 1460
(Quail Valley Drive to University Drive)
Project No. 5RB TIP No. BO & CD
Rights‐of‐Way Acquisition and Utility Relocation
June 2016
Project Description Acquisition of ROW and relocation of utilities for the FM 1460 Project (Quail Valley
Drive to University Drive).
Purpose To have all ROWs cleared and utilities prior to TxDOT letting the project for
construction.
Project Managers Ed Polasek, AICP, and Bill Dryden, P.E.
Engineer Brown and Gay Engineers, Inc.
Element Status / Issues
Design Complete
Environmental/
Archeological
Complete
Rights of Way
One (1) remaining parcel – pending closing
documents.
Section: North South
Acquired: 35 8
Pending: 1 ‐
Condemnation: 0 ‐
Total: 36 8
Utility Relocations Ongoing
Two Utility companies have submitted invoices for reimbursement – Atmos
Energy and Seminole Pipeline
Construction Under Construction.
Tentatively scheduled to be complete Spring 2018.
Other Issues Engineer preparing Change Orders for construction contract.
Page 5 of 72
Mays Street Extension
(Teravista Parkway in Round Rock to the intersection with Westinghouse Road)
Project No. 5RI TIP No. CK
June 2016
Project Description Extend Mays Street northward from Teravista Parkway to the existing intersection
with Westinghouse Road at Rabbit Hill Road. The widening along Westinghouse
Road and Rabbit Hill Road will also be included in the schematic for additional
turning lanes to/from Westinghouse Road. Preliminary layouts for future signals
and roadway illumination will also be included. The project length along the
anticipated alignment is approximately 1.2 miles.
Purpose To develop final PS&E and complete construction of the project.
Project Managers Bill Dryden, P.E.
Engineer CP&Y, Inc.
Element Status / Issues
Design Complete
Environmental/
Archeological
Complete
Rights of Way ROW acquisition – on‐going Total Parcels: 6
Acquired: 4
Pending: 2
Utility Relocations TBD
Construction Project advertised June 12th and 19th;
Bids to be opened June 27th;
GTEC – July 20th;
Council – August 9th;
Anticipated NTP – Late‐August
Anticipated completion Summer 2017
Other Issues
Page 6 of 72
NB Frontage Road
(SS 158 to Lakeway Drive)
Project No. 5QX TIP No. AF
June 2016
Unchanged
Project Description Design and construct a portion of an IH‐35 NB Frontage Road from Williams Drive
to Northwest Boulevard Bridge of a proposed NB FR which would ultimately
extend to Lakeway Drive.
Purpose To relieve congestion in the Williams Drive/Austin Avenue intersection by
providing a NB alternate, interim route to FM 971 and Georgetown High School.
This project is the only remaining portion of IH 35 in Central Texas without a
frontage road existing, under construction or being designed.
Project Manager Bill Dryden
Engineer Klotz Associates
Element Status / Issues
Design We have been informed by TxDOT that it will be doing the Schematic,
Environmental, etc., and PS&E for the NB Frontage Road as part of its proposed
Williams Drive Bridge project.
The City project is on indefinite hold but we will continue coordination with
TxDOT on its design of the project.
Environmental/
Archeology
TBD – By TxDOT
Rights of Way None identified
Utility Relocations TBD
Construction TBD
Other Issues None at this time.
Page 7 of 72
Northwest Boulevard Overpass
(Fontana Drive to Austin Avenue)
Project No. 5QX TIP No. AF
June 2016
Unchanged
Project Description Construction of overpass and surface roads to connect Northwest Boulevard with
Austin Avenue and FM 971.
Purpose This project will relieve congestion at the Austin Avenue/Williams Drive
intersection and provide a more direct access from the west side of IH 35 corridor to
Georgetown High School and SH 130 via FM 971.
Project Manager Bill Dryden, P.E.
Engineer Klotz Associates
Element Status / Issues
Design Engineer is coordinating design with the design for Rivery Boulevard in moving
towards construction PS&E for both projects to minimize overlap work between
these two projects.
Engineer has developed alternatives for stormwater outfall northward from NW
Blvd.
Environmental/
Archeological
Concurrent with preliminary engineering and schematic design.
Rights of Way ROW Documents are being finalized. Part of the ROW for this project is being
required to complete the Rivery Boulevard Extension project.
Utility Relocations TBD
Construction Tentatively scheduled to begin mid‐FY 2019.
Other Issues Paper work has been submitted to TxDOT to create an AFA for design and
environmental reviews of the bridge over I 35.
Page 8 of 72
Rivery Boulevard Extension
(Williams Drive to Northwest Boulevard @ Fontana Drive)
Project No. 5RM TIP No. AD
June 2016
Unchanged
Project
Description
Develop the Rights‐of‐Way Map, acquire ROW, address potential environmental issues
and complete construction plans specifications and estimate (PS&E) for the extension of
Rivery Boulevard from Williams Drive to Northwest Boulevard at Fontana Drive in
anticipation of future funding availability.
Purpose To provide a route between Williams Drive and Northwest Boulevard serving the
Gateway area, providing an alternate route from Williams Drive to the future
Northwest Boulevard Bridge over IH 35, to provide a route between the hotels in the
Gateway area and the proposed Conference Center near Rivery Boulevard and Wolf
Ranch Parkway.
Project Manager Bill Dryden, P.E.
Engineer Kasberg Patrick and Associates
Element Status / Issues
Design Engineer has submitted 75% plans for City’s review.
Environmental/
Archeology
Complete
Rights of Way Appraisals complete. Offers have been made to 17 of
22. Closed on 6 parcels; 1 pending subject to
GTEC/Council approval.
Total Parcels: 22
Appraised: 22
Offers: 17
Acquired: 6
Closing pending: 1
Condemnation: 0
Utility Relocations TBD
Construction Tentatively scheduled to begin mid‐FY 2018.
Other Issues TBD
Page 9 of 72
Snead Drive Project
(SE Inner Loop to Airborn Circle)
Project No. 5QZ TIP No. BM
June 2016
Project Description Develop Construction Plans Specifications and Estimate (PS&E) for the widening
of Snead Drive from S.E. Inner Loop to 600 feet north of Cooperative Way,
including appurtenant waste water improvements.
Purpose This project has been identified as GTEC eligible project and will provide
necessary infrastructure for ongoing economic development in the area.
Project Manager Bill Dryden, P.E.
Engineer Steger Bizzell
Element Status / Issues
Design Complete
Environmental/
Archeological
Complete
Rights of Way Easement has been acquired for water quality pond.
Utility Relocations Utility relocations either complete or are part of the construction contract.
Construction Project is Substantially Complete (roadway is fully open to traffic; contractor
working on punch‐list and final clean up.)
Other Issues None
Page 10 of 72
Current Capital Improvement Projects TIP
No.
Project
No.
Update On Schedule/
Or Behind
Project
Budget
Project
Cost
Available Current Year
Projected
Current Year
Cost
Current Year
Available
Lakeway Drive Overpass #10 5QL Project Complete.
Complete 2,500,000 2,500,000 0 0 0
Southeast Arterial 1 (Sam Houston Avenue)#12 5QG Project Complete.
Complete 12,995,625 10,478,499 2,517,126 0 0
Wolf Ranch Parkway Extension (SW Bypass to DB
Wood Road)
#14A 5QW Project Complete.
Complete 1,330,000 1,111,233 218,767 283,350 0 283,350
Southwest Bypass (SH29 to RR2243)#14B 5QC Project Complete.
Complete 7,756,432 3,225,132 4,531,300 4,539,107 5,787 4,533,320
Northwest Blvd Overpass #QQ 5QX Engineer is coordinating design with the design for
Rivery Boulevard in moving towards construction
PS&E for both projects to minimize overlap work
between these two projects.
Engineer is developing alternatives for storm water
outfall.
Construction tentatively scheduled to begin mid-FY
2019.
In-process
Unchanged
1,136,178 1,099,076 37,102 571,178 479,588 91,590
NB Frontage Road (SS 158 to Lakeway)#QQ 5QY We have been informed by TxDOT that it will be
doing the Schematic, Environmental, etc., and
PS&E for the NB Frontage Road as part of its
proposed Williams Drive Bridge project.
The City project is on indefinite hold but we
will be coordinating with TxDOT on its design
project.
Indefinite Hold 613,822 613,822 0 382,822 382,822 0
ROW - 1460 #EEa
#EEb
#EEc
5RB Contractor has begun working on the project;
contract time is beginning to accrue.
Utility relocations - ongoing.
Two Utility companies (Atmos Energy and
Seminole Pipeline) have subnitted invoices for
completed relocations for reimbursement.
As of October 16th, the City has obtained PUAs or
have closings completed or planned for all the
remaining FM 1460 parcels.
Remaining parcel – pending closing
documents.
Under
Construction
Unchanged
11,788,230 5,348,470 6,439,760 6,727,539 2,315,896 4,411,643
TCS/RR Easement 5RD Project Complete.
Complete 1,500,000 1,503,148 -3,148 0 0
FM 971 / Washam 5RE Project Complete.
Complete 100,000 0 100,000 0 0
Rivery Road 5RF Project Complete.
Complete 779,000 29,000 750,000 750,000 0 750,000
Rivery Boulevard 5RM Engineer has submitted 75% plans for City review.
Appraiser is completing appraisals on
remaining 4 parcels which are expected by the
end of March. Offers have been made to the
16 parcel owners from Park Lane southward to
Williams Drive. Closed on 3 parcels; 3 more in
process; 1 pending subject to GTEC/Council
approval.
Construction tentatively scheduled to begin mid FY
2018.
On Schedule
Unchanged
GTEC PROJECT UPDATE AND STATUS REPORT
June 2016
Project to Date Current Year Budget (13/14)
L:\Global\CIP Budgetary Worksheets\GTEC Status Report\2016\GTEC - Project Status - 2016-06.xlsx Page 1 of 2 6/9/2016Page 11 of 72
Current Capital Improvement Projects TIP
No.
Project
No.
Update On Schedule/
Or Behind
Project
Budget
Project
Cost
Available Current Year
Projected
Current Year
Cost
Current Year
Available
GTEC PROJECT UPDATE AND STATUS REPORT
June 2016
Project to Date Current Year Budget (13/14)
Snead Drive 5QZ Project is Substantially Complete (roadway is
fully open to traffic; contractor working on
punch‐list and final clean up.)
Substantially
Complete
825,100 87,000 738,100 825,100 87,000 738,100
Mays Street Extension 5RI Design is Complete
ROW acquisition on‐going (3 of 6 parcels
acquired)
Project advertised June 12th and 19th;
Bids to be opened June 27th;
GTEC – July 20th;
Council – August 9th;
Anticipated NTP – Late‐August
Anticipated completion Summer 2017
In Process 196,000 196,000 0 196,000 196,000 0
IH 35/ Hwy 29 Intersection 5RJ TBD 650,000 0 650,000 650,000 0 650,000
Current Economic Development Projects Project
Type
Project
No.
Update On Schedule/
Or Behind
Project
Budget
Project
Cost
Available Current Year
Budget
Current Year
Cost
Current Year
Available
100 S. Austin Ave Eco Devo
Project
5RA In-process 507,000 507,000 0 0
Williams Drive Gateway 5RC Engineer working on schematic design alternatives
and preliminary cost estimates.
On Schedule 65,000 61720 3,280 0 0
Economic Development Projects 1,137,500 1,137,500 1,137,500 0 1,137,500
16,062,596 3,467,093 12,595,503
Project to Date Current Year Budget (13/14)
L:\Global\CIP Budgetary Worksheets\GTEC Status Report\2016\GTEC - Project Status - 2016-06.xlsx Page 2 of 2 6/9/2016Page 12 of 72
Austin Avenue Bridges Project
(North and South San Gabriel Bridges)
Project No. TBD TIP Project No. N/A
June 2016
Project
Description
Develop 30% plans for improvements along Austin Ave. between 3rd Street and Morrow
Street. The project involves several phases and requires participation and support from
various stakeholders– interested citizens, community businesses, professional
consultants, State and regional transportation partners City Staff and Council.
Schedule Phase Activity Completion
1 Public involvement and alternative analyses, evaluating
alternatives for feasibility and costs, etc. Mid 2016
2 Develop geometric layouts and preliminary construction
estimates for two alternatives Mid 2016
3 Selection of alternative by Council End 2016
4 Develop schematic and 30% plans. Mid 2017
Proj. Mgrs Ed Polasek, AICP; Bill Dryden, P.E.; Nat Waggoner, PMP®
Engineer Aguirre & Fields, LP
Element Status/Issues
Public
Involvement
2nd Public Meeting is scheduled for June 28, 2016 at the San Gabriel Community Center
Walking tour – 4:30 to 5:30, Public Meeting from 6:00‐8:00
Design Forensic testing completed.
Surveying Complete
Environmental 4f and Study Scope documents drafted, Meeting 5/13 with TxDOT
Rights of Way Exist. ROW from N. of 2nd to Morrow; Additional ROW may be required 3rd to N.
of 2nd.
Utility Relocations TBD
Construction TBD
Other Issues Reports from independent engineering firms
Page 13 of 72
CDBG Sidewalk Improvements Project
MLK/3rd Street (Scenic Dr. to Austin Ave.)
Project No. None TIP No. None
June 2016
Project Description Design and preparation of final plans, specifications and estimates (PS&E) for
sidewalk improvements along MLK/ and 3rd streets from Scenic Drive to Austin
Avenue.
Purpose To provide ADA/TDLR compliant sidewalks and ramps along the route.
Project Managers Bill Dryden, P.E.
Engineer Steger Bizzell
Element Status / Issues
Design Complete
Environmental/
Archeological
Complete
Rights of Way N/A
Utility Relocations N/A
Construction Under Construction; approximately 60% complete.
Other Issues None
Page 14 of 72
CDBG Sidewalk Improvements Project
University Avenue (SH 29) (I 35 to Hart St.)
Project No. None TIP No. None
June 2016
Project Description Design and preparation of final plans, specifications and estimates (PS&E) for
sidewalk improvements along University Avenue (SH 29) from I 35 to Hart Street.
Purpose To provide ADA/TDLR compliant sidewalks in the area.
Project Managers Bill Dryden, P.E.
Engineer Steger Bizzell
Element Status / Issues
Design Complete
Environmental/
Archeological
N/A
Rights of Way Existing
Utility Relocations None identified
Construction Bids opened May 31st;
GTAB – today;
Council – June 28th;
NTP – 2nd week of July.
Other Issues None
Page 15 of 72
FM 971 at Austin Avenue
Realignment Intersection Improvements
Project No. 1BZ TIP No. AG
June 2016
Project Description Design and preparation of final plans, specifications and estimates (PS&E) for the
widening and realignment of FM 971 at Austin Avenue, eastward to Gann Street.
Purpose To provide a new alignment consistent with the alignment of the proposed
Northwest Boulevard Bridge over IH 35; to allow a feasible, alternate route from
the west side of I 35 to Austin Avenue, to Georgetown High School, to San Gabriel
Park and a more direct route to SH 130.
Project Managers Bill Dryden, P.E.
Engineer Klotz Associates, Inc.
Element Status / Issues
Design Preliminary Engineering complete;
Engineer’s work for the 60% design submittal is on hold pending discussion and
recommendation from GTAB for alignment.
Environmental/
Archeological
TBD
Rights of Way Complete
Utility Relocations TBD
Construction TBD
Other Issues Discussion on alternative alignments on today’s GTAB Agenda.
Page 16 of 72
FM 1460
Quail Valley Drive to University Drive
Project No. 5RB TIP No. BO & CD
June 2016
Unchanged
Project Description Design and preparation of plans, specifications and estimates (PS&E) for the
widening and reconstruction of FM 1460. Project will include review and update
to existing Schematic, Right‐of‐Way Map and Environmental Document and
completion of the PS&E for the remaining existing roadway.
Purpose To keep the currently approved environmental documents active; purchase ROW,
effect utility relocations/clearance and to provide on‐the‐shelf PS&E for TxDOT
letting not later than August 2013, pending available construction funding.
Project Managers Ed Polasek, AICP and Bill Dryden, P.E.
Engineer Brown and Gay Engineers, Inc.
Element Status / Issues
Design Complete
Environmental/
Archeological
Complete
Rights of Way 1 remaining parcel of original 36 – pending closing documents.
Utility Relocations Ongoing
Construction Construction is on‐going
Other Issues Engineer preparing Change Orders for construction contract.
Page 17 of 72
Jim Hogg Drive/Road at Williams Drive
Intersection and Signalization Improvements
Project No. 1DE TIP No. None
June 2106
Project Description Design and preparation of final plans, specifications and estimates (PS&E) for the
widening of Jim Hogg at the intersection of Williams Drive, inclusive of installation
of a traffic signal.
Purpose To provide a widened 3‐lane section with signal at the intersection of Jim Hogg and
Williams Drive. The proposed improvements will provide improved access for the
residents and the employees of the new City Service Center to Williams Drive.
Project Manager Bill Dryden, P.E.
Engineer Kimley‐Horn and Associates, Inc.
Element Status / Issues
Design Complete
Environmental/
Archeological
Complete
Rights of Way Existing
Utility Relocations Complete
Construction Construction is on‐going;
Contractor is working roadway base and paving.
Signals have been installed; expect to be turned on this month.
Other Issues None
Page 18 of 72
Southwest Bypass Project
(RM 2243 to IH 35)
Project No. 1CA Project No. BK
June 2016
Unchanged
Project Description Develop PS&E for Southwest Bypass from Leander Road (RM 2243) to IH 35 in the
ultimate configuration for construction of approximately 1.5 miles of interim 2‐lane
roadway from Leander Road (RM 2243) to its intersection with the existing Inner
Loop underpass at IH 35.
Purpose To extend an interim portion of the SH 29 Bypass, filling in between Leander Road
(RM 2243) to IH 35 Southbound Frontage Road.
Project Manager Williamson County
City Contact: Ed Polasek, AICP and Bill Dryden, P.E.
Engineer HDR, Inc.
Element Status / Issues
Williamson County
Project Status
(from WilCo’s status
report)
Southwest Bypass Driveways – Award of the construction contract was approved
at 3/8/16 Commissioners Court Meeting. Five (5) bids were received on 2/24/16, with
the apparent low bidder being Smith Contracting with a bid of $289,981.90. NTP is
anticipated to be issued 5/2/16 with Time Charges beginning on 5/12/16. A
Preconstruction meeting was held 4/15/16.
Southwest Bypass (RM 2243 to IH 35) – A meeting with HDR to discuss the WA
Supplemental and project status was held on 3/9/16. A meeting with TxDOT and the
City of Georgetown to discuss the turn lanes on RM 2243 was held on 3/9/16. A
meeting with the City of Georgetown and County staff was held on 2/26/16 to
discuss project status. A 30% PS&E Submittal for the Southwest Bypass Phase 1 was
received on 2/23/16 and is under review. A GEC Constructability review meeting
was held on 3/3/16. An ILA with the City of Georgetown was approved by
Commissioners Court on 2/23/16. Comments were issued 2/18/16 on a 60% PS&E
submittal for turn lanes on RM 2243 at Southwest Bypass.
Rights of Way Complete for the parcels east of the Texas Crushed Stone properties.
Other Issues City and WilCo completing the Interlocal Agreement for the Project.
Page 19 of 72
Transit Development Plan
(Fixed Route Bus)
June 2016
Project
Description
The purpose of this study is to develop a local transit plan for the City of Georgetown that
would serve transit needs within the city limits and connect to existing and future regional
transit options to form a regional transit network that would improve mobility, improve
the region’s environmental and economic sustainability, and slow the increase of congestion
on roadways.
Schedule Phase Activity Completion
1 Initiation Fall 2014
2 Public Involvement, Existing Conditions, Recommendations Spring 2015
3 Initial Report Completed Summer 2015
4 Boards and Commissions Review, Council May 2016
5 Consideration by Council June 28, 2016
Proj. Mgrs Ed Polasek, AICP; Nat Waggoner, PMP®; Bill Dryden, P.E.
Engineer AECOM, Capital Metro
Element Status/Issues
Public
Involvement
2 Public Meetings
Public Intercept Survey, Online Survey, GYAB Survey, Multiple Stakeholder Interviews
More than 20 presentations
Design Revisions underway based on changed conditions
Next Step(s) Council consideration of TDP Adoption and FY17 Budget Inclusion
Page 20 of 72
Transportation Services Operations
CIP Maintenance
June 2016
Project Description 2016‐2017 CIP Maintenance of roadways including, Chip seal, Cutler Overlays,
Fog seal applications and Engineering design of future rehabilitation projects.
Purpose To provide protection and maintain an overall pavement condition index of
85%.
Project Manager Mark Miller
Engineer/Engineers KPA, LP
Task Status / Issues
Chip Seal Contractor has indicated his intention to move into Georgetown on July 25th
and work through August. PMM (polymer modified masterseal) with chip
seal contract.
Fog Seal Rejuvenation has been discontinued indefinitely (Staff continuing to
research proven products)
HIPR/overlay NTP anticipated early June. Contractor anticipating mobilization late June
to early July.
Curb and gutter
engineering 2016
Under way.
Page 21 of 72
Southwest Bypass (Leander Rd. to Wolf Ranch Parkway Extension)
Wolf Ranch Parkway Extension (SW Bypass to DB Wood Rd.)
Project No. 1DI OTP Project No. AD & AZ1
June 2016
Project
Description
Construction of Southwest Bypass from Leander Road (RM 2243) to Wolf Ranch
Parkway Extension and Wolf Ranch Parkway Extension from Southwest Bypass to
DB Wood Road.
Remaining Project Schedule
Notice to Proceed Effective May 9, 2016
Completion of Construction Late‐Spring 2018
Purpose To complete a connection from Leander Road (RM 2243) to University Ave. (SH 29)
Project Manager Bill Dryden, P.E. (Design); Joel Weaver (Construction)
Engineer HDR, Inc.
Element Status / Issues
Design Complete
Surveying Complete
Environmental Complete
Rights of Way ROW/PUA acquired.
Utility
Relocations
Complete or part of Construction
Construction Contractor clearing ROW; placing erosion control measures; installing fencing.
Other Issues Residents of the adjacent Legend Oaks Subdivision are strongly urging City to
install concrete/rock facia fencing along edge of development.
Page 22 of 72
Citywide Sidewalk Improvements Project
2015 Sidewalk Master Plan
Project No. None TIP No. None
June 2016
Project
Description
The proposed project encompasses sidewalk improvements at various locations within
the City of Georgetown. Improvements include curb ramps, crosswalks, pedestrian‐
actuated signal infrastructure (“ped heads”) and sidewalk extensions/reconstructions.
Purpose To provide ADA/TDLR compliant sidewalks and ramps identified in the 2015 Sidewalk
Master Plan.
Project Managers Nat Waggoner, PMP®; Bill Dryden, P.E.
Engineer Steger Bizzell
Element Status / Issues
Design July‐Oct 2016
Environmental/
Archeological
Aug‐Oct 2016
Rights of Way June 2016
Utility
Relocations
N/A
Construction Jan‐Apr 2017
Other Issues None
Page 23 of 72
City of Georgetown, Texas
Transportation Enhancement Corp
June 15, 2016
SUBJECT:
Presentatio n of Geo rgeto wn Transportation Enhancement Corporatio n monthly financial rep o rts fo r May
2016. Leigh Wallac e, Financ e Directo r, COG, F inance Manager, GTEC.
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Jana Kern o n behalf of Leigh Wallace
ATTACHMENTS:
Description Type
Monthly Financials Backup Material
Page 24 of 72
Meeting Date June 15, 2016 Item No. _________
GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION
AGENDA ITEM COVER SHEET
SUBJECT:
Presentation of Georgetown Transportation Enhancement Corporation monthly financial
reports for May 2016. Leigh Wallace, Finance Director, COG, Finance Manager, GTEC.
ITEM SUMMARY:
The Bylaws of GTEC (Article V, Section 6.02) require the Finance Manager to report the
financial activity of the Corporation to the Board.
• Financial reports
• Sales Tax revenues
• Any other relevant financial information
Sales tax is received two months in arrears; therefore the revenues reflect only the
amount received, not actually earned, as of the report date. A report on payments made
to vendors for the month of May is also included.
ATTACHMENTS:
Monthly Financial Report
Sales Tax History
Disbursement Report
SUBMITTED BY:
Leigh Wallace
Finance Director, COG
Finance Manager, GTEC
Page 25 of 72
YEAR-END YEAR-END
APPROVED MAY-16 YEAR TO DATE YEAR-END VARIANCE % VARIANCE
BUDGET W/ENCUMB W/ENCUMB PROJECTION FAV(UNFAV)FAV(UNFAV)
BEGINNING BALANCE 8,592,116 8,528,267 (63,849)(0.7%)
OPERATING REVENUE
Sales Tax 5,381,250 517,620 2,837,222 5,625,000 243,750 4.5%
Public Improve. District Assessments 500,000 0 0 500,000 0 0.0%
Interest 15,000 0 35,199 36,000 21,000 140.0%
Reimbursement from TXDOT 450,000 (111,058)77,867 450,000 0 0.0%
Total Operating Revenue 6,346,250 406,562 2,950,288 6,611,000 264,750 4.2%
OPERATING EXPENDITURES
Administrative Support 376,132 7,200 190,452 124,901 251,231 66.8%
Debt Service 2,572,312 (448,065)476,610 2,063,145 509,167 19.8%
Total Operating Expenditures 2,948,444 (440,865)667,062 2,188,046 760,398 25.8%
TOTAL NET OPERATIONS 3,397,806 847,428 2,283,226 4,422,954 (495,648)(14.6%)
NON-OPERATING REVENUE
Debt Proceeds (FY16)17,500,000 10,708,263 10,708,263 11,150,000 (6,350,000)(36.3%)
Total Non-Operating Revenue 17,500,000 10,708,263 10,708,263 11,150,000 (6,350,000)(36.3%)
NON-OPERATING EXPENDITURES
ROW 1460 (FY12)500,000 153,212 361,130 500,000 0 0.0%
FM 1460 Widening (FY15)61,000 0 3 61,000 0 0.0%
SW Bypass-SH 29 to RM 2243 (FY14)1,332,579 2,390 1,023,911 1,332,579 0 0.0%
SW Bypass-SW Inner Loop 29 (FY15)0 0 8,585 8,585 (8,585)NA
SW Bypass-2243 to IH35 (FY06)1,121,000 826 9,035 1,121,000 0 0.0%
Arterial SE 1-Inner Loop (FY04)0 89 2,036 2,036 (2,036)NA
FM 971 Northwest-Washam IH35 (FY09)91,590 0 0 91,590 0 0.0%
Wolf Ranch Pkwy Ext - DB Wood (FY10)283,350 0 0 0 283,350 100.0%
Snead Dr (FY11)20,000 0 46 46 19,954 99.8%
Williams Dr Gateway (FY13)794,000 0 215 794,000 0 0.0%
Rivery-Ext Williams Dr to NW Blvd (FY16)1,500,000 278,960 1,590,966 1,590,966 (90,966)(6.1%)
Rivery-TIA Improvements (FY16)1,400,000 0 0 400,000 1,000,000 71.4%
Rivery-Rivery Rd (FY13)721,000 0 0 721,000 0 0.0%
SH 29 Int.-IH35 to Haven Ln (FY14)650,000 0 0 0 650,000 100.0%
Pecan Center Dr to Airport Rd (FY15)6,364,000 0 0 2,000,000 4,364,000 68.6%
Mays St (FY15)10,150,000 0 2,745 10,150,000 0 0.0%
Available for Projects TBD 1,345,312 0 0 0 1,345,312 100.0%
Total Non-Operating Expenditures 26,333,831 435,475 2,998,671 18,772,802.00 7,561,029 28.7%
TOTAL NET NON-OPERATIONS (8,833,831)10,272,787 7,709,591 (7,622,802)1,211,029 (13.7%)
EXCESS (DEFICIENCY) OF TOTAL
REVENUE OVER TOTAL
REQUIREMENTS (5,436,025)11,120,215 9,992,817 (3,199,848)2,236,177 (41.1%)
ENDING BALANCE 3,156,091 5,328,419 2,172,328 68.8%
RESERVED ENDING BALANCE 1,474,063
Georgetown Transportation Enhancement Corporation Fund
Year End Projection to Approved as of May 2016
Page 26 of 72
Georgetown Transportation Enhancement Corporation
Variance % Var.
MONTH [a] 2011-12 2012-13 2013-14 2014-15 2015-16 To FY 15 To FY 15
October 281,056 345,296 367,451 392,374 424,201 31,827 8.11%
November 297,888 328,333 398,208 411,566 451,065 39,499 9.60%
December 447,872 470,330 538,728 575,095 592,798 17,703 3.08%
January 292,708 330,857 357,430 350,778 386,252 35,474 10.11%
February 291,782 311,562 347,604 356,428 432,468 76,040 21.33%
March 423,287 462,254 457,421 495,804 533,967 38,163 7.70%
April 325,447 337,678 424,007 410,683 435,906 25,223 6.14%
May 323,676 377,648 450,289 382,794
June 398,654 456,529 493,224 522,356
July 359,877 371,061 409,739 435,977
August 343,168 370,942 392,059 411,552
September 353,337 500,787 477,892 500,805
Total $4,138,751 $4,663,277 $5,114,052 $5,246,212 $3,256,657 $263,929
YTD 2,360,040 2,586,310 2,890,850 2,992,728 3,256,657 263,929 8.82%[b]
Notes:
[a] Sales tax revenue from the State Comptroller is received two months in arrears.
[b] YTD compared thru current month.
$0
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Re
v
e
n
u
e
s
Sales Tax 3 Year Trend
2013-14
2014-15
2015-16
Page 27 of 72
Check Report Summary
For the Month Ending
May 31, 2016
Angie San Miguel 2,050.00
Rivery Ext 2,050.00
Brown & Gay Engineers Inc 13,302.52
Pecan Center Dr / Airport Rd 13,302.52
Longhorn Title Co 225,492.68
Rivery Ext 225,000.00
Mays St 492.68
Joe Bland Construction LP 229,401.25
Snead Dr 229,401.25
Chiang, Patel & Yerby Inc 14,910.24
Mays St 14,910.24
Klotz Associates Inc 2,438.40
FM 971 / Fontana 1,446.70
NB Frontage Rd 991.70
Kasberg, Patrick 43,988.77
Williams Dr Gateway 43,988.77
The Salvation Army 40,000.00
Rivery Ext 40,000.00
Office of the Attorney General 6,439.71
Bond Issuance Cost 5,442.94
Bond Issuance Cost 996.77
$578,023.57 $578,023.57
Page 28 of 72
6/02/2016 9:15 AM A/P HISTORY CHECK REPORT PAGE: 4
VENDOR SET: 02 CITY OF GEORGETOWN
BANK: JPM JP MORGAN CHASE
DATE RANGE: 5/01/2016 THRU 5/31/2016
CHECK CHECK CHECK CHECK
VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT
011470 BROWN & GAY ENGINEERS INC
I-2-160282 BGE 15-001 R 5/05/2016 222336
400 9-0980-90-063 PECAN CENTER DR./ AIRPORT RD. BGE 15-001 4,311.16
I-3-160069 BGE 15-001 R 5/05/2016 222336
400 9-0980-90-063 PECAN CENTER DR./ AIRPORT RD. BGE 15-001 8,991.36 13,302.52
*** VENDOR TOTALS *** 1 CHECKS 13,302.52
10050 CHIANG, PATEL,& YERBY,INC
I-GEOR1400019.02-8 CP&Y 15-001 R 5/05/2016 222337
400 9-0980-90-060 MAYS STREET CP&Y 15-001 14,910.24 14,910.24
*** VENDOR TOTALS *** 1 CHECKS 14,910.24
011510 JOE BLAND CONSTRUCTION, LP
I-SNEAD DR EST 9 SNEAD DRIVE R 5/12/2016 222523
400 2-0000-20-005 A/P - RETAINAGE SNEAD DRIVE 12,073.75CR
400 9-0980-90-050 SNEAD DRIVE SNEAD DRIVE 241,475.00 229,401.25
*** VENDOR TOTALS *** 1 CHECKS 229,401.25
10090 KASBERG, PATRICK &
I-14-130-018 KPA 15-001 E 5/06/2016 999999
400 9-0980-90-053 WILLIAMS DRIVE GATEWAY KPA 15-001 43,988.77 43,988.77
*** VENDOR TOTALS *** 1 CHECKS 43,988.77
10990 KLOTZ ASSOCIATES, INC.
I-216070 KAI 14-001 R 5/05/2016 222338
400 9-0980-90-044 FM 971/ FONTANA (NW BRIDGE) KAI 14-001 1,446.70
I-216074 KAI 14-002 R 5/05/2016 222338
400 9-0980-90-049 NB FRONT RD (2338 TO LAKEWAY) KAI 14-002 991.70 2,438.40
*** VENDOR TOTALS *** 1 CHECKS 2,438.40
15381 LONGHORN TITLE CO
I-CR042716 LONGHORN TITLE CO R 5/05/2016 222339
400 9-0980-90-060 MAYS STREET LONGHORN TITLE CO 492.68 492.68
15381 LONGHORN TITLE CO
I-CR051616 LONGHORN TITLE CO R 5/19/2016 222706
400 9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWESTLONGHORN TITLE CO 225,000.00 225,000.00
*** VENDOR TOTALS *** 2 CHECKS 225,492.68
1 ANGIE SAN MIGUEL
I-CR050316/MIGUEL ANGIE SAN MIGUEL: R 5/17/2016 222525
400 9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWESTANGIE SAN MIGUEL: 2,050.00 2,050.00
Page 29 of 72
6/02/2016 9:15 AM A/P HISTORY CHECK REPORT PAGE: 5
VENDOR SET: 02 CITY OF GEORGETOWN
BANK: JPM JP MORGAN CHASE
DATE RANGE: 5/01/2016 THRU 5/31/2016
CHECK CHECK CHECK CHECK
VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT
1 THE SALVATION ARMY
I-CR050216/SALVATION THE SALVATION ARMY: R 5/17/2016 222526
400 9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWESTTHE SALVATION ARMY: 40,000.00 40,000.00
*** VENDOR TOTALS *** 2 CHECKS 42,050.00
011650 OFFICE OF THE ATTORNEY GENERAL
I-2016 AG FILING FEE OFFICE OF THE ATTORNEY GENERAL R 5/02/2016 222073
400 6-9990-60-300 BOND ISSUANCE COSTS COMB TAX/REV CO - GT 5,442.94 5,442.94
011650 OFFICE OF THE ATTORNEY GENERAL
I-CR052416/AG FILING OFFICE OF THE ATTORNEY GENERAL R 5/24/2016 222708
400 6-9990-60-300 BOND ISSUANCE COSTS OFFICE OF THE ATTORN 996.77 996.77
*** VENDOR TOTALS *** 2 CHECKS 6,439.71
* * T O T A L S * * NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT
REGULAR CHECKS: 10 534,034.80 0.00 534,034.80
HAND CHECKS: 0 0.00 0.00 0.00
DRAFTS: 0 0.00 0.00 0.00
EFT: 1 43,988.77 0.00 43,988.77
NON CHECKS: 0 0.00 0.00 0.00
VOID CHECKS: 0 VOID DEBITS 0.00
VOID CREDITS 0.00 0.00 0.00
TOTAL ERRORS: 0
** G/L ACCOUNT TOTALS **
G/L ACCOUNT NAME AMOUNT
----------------------------------------------------------------------
400 2-0000-20-005 A/P - RETAINAGE 12,073.75CR
400 6-9990-60-300 BOND ISSUANCE COSTS 6,439.71
400 9-0980-90-044 FM 971/ FONTANA (NW BRIDGE) 1,446.70
400 9-0980-90-049 NB FRONT RD (2338 TO LAKEWAY) 991.70
400 9-0980-90-050 SNEAD DRIVE 241,475.00
400 9-0980-90-053 WILLIAMS DRIVE GATEWAY 43,988.77
400 9-0980-90-060 MAYS STREET 15,402.92
400 9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWEST 267,050.00
400 9-0980-90-063 PECAN CENTER DR./ AIRPORT RD. 13,302.52
*** FUND TOTAL *** 578,023.57
Page 30 of 72
6/02/2016 9:15 AM A/P HISTORY CHECK REPORT PAGE: 6
VENDOR SET: 02 CITY OF GEORGETOWN
BANK: JPM JP MORGAN CHASE
DATE RANGE: 5/01/2016 THRU 5/31/2016
CHECK CHECK CHECK CHECK
VENDOR I.D. NAME STATUS DATE AMOUNT DISCOUNT NO STATUS AMOUNT
NO INVOICE AMOUNT DISCOUNTS CHECK AMOUNT
VENDOR SET: 02 BANK: JPM TOTALS: 11 578,023.57 0.00 578,023.57
BANK: JPM TOTALS: 21 589,491.82 0.00 578,023.57
REPORT TOTALS: 33 304,316.26 0.00 578,023.57
Page 31 of 72
City of Georgetown, Texas
Transportation Enhancement Corp
June 15, 2016
SUBJECT:
Sales tax pres entation regard ing F Y2016 and F Y2017 p ro jected sales tax c ollec tions . - P aul Diaz, Bud get
Manager
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Jana Kern o n behalf of Paul Diaz
ATTACHMENTS:
Description Type
Sales Tax Pres entation Pres entation
Page 32 of 72
FY2017 Annual Budget
FY2017 Sales Tax Process
Page 33 of 72
FY2017 Annual Budget
Sales Tax Process
•Confidential Report from the State
•Roughly 8,000 lines of data every month.
•Put the information into groups related to
Sector, Subsector, Area, and other identifiers.
Page 34 of 72
FY2017 Annual Budget
Sales Tax Process
ID Name Sector Code Date Amount
1231423123 Paul’s Pizza
Shack
721231 11/2015 321.12
9879879874 Diaz’s Diner 721231 10/2015 456.12
8888781310 Pablo’s Pet
Shop
541254 3/2016 1201.12
Page 35 of 72
FY2017 Annual Budget
Sales Tax Process
•Roll the individual data into the aggregate.
–Identify Trends
•By Sector
•By Subsector
•By Area
•By Multiple Time Periods
–Use different trend techniques to forecast.
Page 36 of 72
FY2017 Annual Budget
Clustering in Data
•“There is no silver bullet, but there is a golden
buckshot”.
Page 37 of 72
FY2017 Annual Budget
Consistency in Data
Page 38 of 72
FY2017 Annual Budget
Consistency in Data
Page 39 of 72
FY2017 Annual Budget
FY2016 Projections
Page 40 of 72
FY2017 Annual Budget
Projections
•FY2016: $22,500,000 or 4.5% over budget
–Directly tied to growth
–Austin MSA has been insulated for the crash of the
oil market (Dec. 2014).
–Consumption two-thirds of the economy.
•FY2017: $23,500,000 or 4.44% over projected
year end.
Page 41 of 72
FY2017 Annual Budget
Questions
Page 42 of 72
City of Georgetown, Texas
Transportation Enhancement Corp
June 15, 2016
SUBJECT:
Cons id eration and p o s s ib le ac tion to approve minutes fro m the regular GTEC Board meeting held May 18,
2016. David Morgan, General Manager - GT EC
ITEM SUMMARY:
Bo ard to review the minutes fro m the meeting held on May 18, 2016 and revis e or ap p ro ve.
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Jana Kern
ATTACHMENTS:
Description Type
Draft Minutes Backup Material
Page 43 of 72
Minutes of the Meeting of
Georgetown Transportation Enhancement Corporation
and the Governing Body of the
City of Georgetown, Texas
Wednesday, May 18, 2016
The Georgetown Transportation Enhancement Corporation of the City of Georgetown, Texas, met on
Wednesday May 18, 2016.
Board Members Present: Tom Crawford - President, Jay Warren – Vice President, Joe Pondrom -
Secretary, John Hesser, Leo Wood, Colin McGahey, Ty Gipson
Board Members Absent:
Staff Present: David Morgan, Mike Babin, Jana Kern, Ed Polasek, Terri Calhoun, Bill Dryden,
Leigh Wallace, Wayne Reed,
Others Present: Trae Sutton – KPA, Bill Maples – Maples Assoc.
Minutes
Regular Session
A. Call to Order – Mr. Tom Crawford Called the regular GTEC Board Meeting to order on
Wednesday, May 18, 2016 at 3:30 PM
The Board may, at any time, recess the Regular Session to convene in Executive Session at the
President, A Board Member, The City Manager, Assistant City Manager, General Manager of
Utilities, City Council Member, and/or legal counsel for any purpose authorized by the Open
Meetings Act, Texas Government Code Chapter 551, and are subject to action in the Regular
Session that follows.
B. Introduction of Visitors
C. Industry/CAMPO/TXDOT Updates: CAMPO - At the last Policy board meeting, the Board
approved the changed of fiscal agents from City of Austin to Williamson County. There is no
outward change in CAMPO based on this change, but the fiscal agents are the ones that handle
the federal main and federal contracting on behalf of CAMPO.
D. Discussion regarding the Project Progress Reports and Time Lines. – Bill Dryden, P.E.,
Transportation Engineer and Edward G. Polasek, AICP, Transportation Services Director
E. Presentation of Georgetown Transportation Enhancement Corporation monthly financial report
for April 2016. – Leigh Wallace, Finance Director, COG, Finance Manager, GTEC
Legislative Regular Agenda
F. Consideration and possible action to approve the minutes from the regular GTEC Board
meeting held May 20, 2016. – David Morgan, General Manager, GTEC Board
Motion by Warren second by Gipson to approve minutes as presented. Approved 7-0
Motion by Warren second by Pondrom that Item ‘G’ is and executive session item
under Sec 551.072. Approved 7-0
Page 44 of 72
Moved to Executive Session at 3:59 PM
G. EXECUTIVE SESSION – SEC 551.072 Deliberation Regarding Real Property
Consideration and possible action to approve the purchase of real property from Sally
Hideko Imamura Baral and Akane Alice Imamura (Parcel 3, 1407 Williams Drive) in
connection with the Rivery Blvd. Extension Project – Terri Glasby Calhoun, Real Estate
Services Coordinator, Ed Polasek, AICP, Transportation Services Coordinator
Deliberation concerning the purchase of real property from Mari E. Seidel (Parcel 1, 1599
Williams Drive) in connection with the Rivery Blvd. Extension Project – Terri Glasby
Calhoun, Real Estate Services Coordinator, Ed Polasek, AICP, Transportation Services
Coordinator
Motion by Warren second by Gipson to return to Regular Session for Action from Executive
Session. Approved 7-0
RETURN TO REGULAR SESSION at 4:12 PM
H. Action from Executive Session
Motion by Pondrom second by McGahey to approve the purchase of real property from Sally
Hideko Imamura Baral and Akane Alice Imamura (parcel 3), plus closing costs, in connection
with the Rivery Blvd. Extension Project on the term discussed in Executive Session.
Approved 7-0
Motion by Pondrom second by Warren to approve the purchase of real property from Mari E.
Siedel (Parcel 1), plus closing costs and payment relocation benefits and actual moving expenses
in connection. Approved 7-0
Adjournment
Motion by Gipson second by Hesser to adjourn meeting. Approved 7-0 Meeting adjourned at
4:14 PM
Approved: Attest:
_______________________ ________________________
Tom Crawford - President Joe Pondrom – Secretary
_________________________
Jana R. Kern – Board Liaison
Page 45 of 72
City of Georgetown, Texas
Transportation Enhancement Corp
June 15, 2016
SUBJECT:
Disc ussion and p o s s ib le ac tion to adopt the F Y2017 p ro p o s ed GTEC b ud get and s et a d ate fo r the p ublic
hearing o n the p ro p o s ed bud get. Leigh Wallac e, Financ e Directo r, COG, Financ e Manager, GTEC
ITEM SUMMARY:
FINANCIAL IMPACT:
n/a
SUBMITTED BY:
Jana Kern o n behalf of Leigh Wallace
ATTACHMENTS:
Description Type
16/17 GTEC Budget Backup Material
Page 46 of 72
Meeting Date: June 15, 2016 Item No. __________
GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION
AGENDA ITEM COVER SHEET
SUBJECT:
Discussion and possible action to adopt the FY2017 proposed GTEC budget and set a date for the public
hearing on the proposed budget. Leigh Wallace, Finance Director, COG, Finance Manager, GTEC
ITEM SUMMARY:
The proposed FY2017 GTEC budget includes projects identified for funding along with administrative costs
and total funding requirements.
The proposed FY2017 budget identifies revenues and specific projects planned for the upcoming year, as
well as, costs associated with past debt issues.
• Proposed FY2017 Budget Presentation
• Proposed FY2017 Budget Fund Schedule
• Proposed FY 2017 Revenue Detail
• Proposed FY 2017 Expenditure Detail
• Proposed FY 2017 Administrative Contract
• GTEC Fiscal Policies Adopted 2004
SPECIAL CONSIDERATIONS:
Council is scheduled to take action on all components of the FY2017 budget in September 2016.
SUBMITTED BY:
Leigh Wallace
Finance Director, COG
Finance Manager, GTEC
Page 47 of 72
FY2017 Annual Budget
Georgetown Transportation
Enhancement Corporation
FY 2017 Draft Budget
6-15-16
Page 48 of 72
FY2017 Annual Budget
GTEC Budget Process
•GTEC is a “component unit” of the City
–GTEC Board recommends budget to City Council
–City Council adopts in August/September
•Guided by GTEC Fiscal and Budgetary Policy
•Transportation Improvement Program (TIP) adopted annually
–5 Year project plan
–Projects meet legal criteria for 4B sales tax and the voter referendum language
–Project timing may be adjusted annually
–Last reviewed in April 2016
Page 49 of 72
FY2017 Annual Budget
GTEC Budget Process
•GTEC budget developed annually
–Revenue estimates for upcoming year
–Includes upcoming year of projects from TIP
–Debt service –from previously issued 20 year debt
for projects
–Administrative costs
•Staff, overhead, project management
Page 50 of 72
FY2017 Annual Budget
Revenue
•Sales tax increase of 4.5% for 2016 Projected Year-end and
2017 Budget
–Impact is $250K each year
•TXDOT reimbursements for FM1460 complete in 2016
•Round Rock Interlocal Agreement for Mays Street in 2017,
$2.9M
•$1.85M in debt proceeds in 2017 for Airport Rd
•South TIRZ will reimburse 35% of their tax increment for
GTEC fronted funding
–Amount will increase annually as TIRZ is built out
–Minor amounts for 2016 and 2017
–To be determined, bring back in July based on updated tax roll and rate
Page 51 of 72
FY2017 Annual Budget
Expenditures
•Mays Street
–Continue project north of Westinghouse past
Commerce
–Final Design and Construction allocation
–Located within Westinghouse TIRZ Area
–$3.5 Million in 2017
Page 52 of 72
FY2017 Annual Budget
Expenditures
•Airport Road (formerly Pecan Center)
–$6.4 Million in 2016 budget, with no project
agreement or bonds sold
–Design and engineering in 2016 for $2.0M
–$1.85M debt proceed funding needed for Right-of-
Way acquisition and remaining project expenses in
2017
Page 53 of 72
FY2017 Annual Budget
Expenditures
•Rivery Extension
–Continue to purchase Right-of-Way
–Appraised values higher since 2012 estimate
–Additional TCEQ permitting and coordination with
Northwest Blvd Project.
–$4.0M in 2017
•Debt Service Payments
–$3.4M in 2017 previously issued debt
•Includes most recent issue for Mays Street; HWY 29
Page 54 of 72
FY2017 Annual Budget
Expenditures
•Other operating expenses: supplies and training
–$1,500 in 2017
•Funding for undetermined projects
–Per fiscal policy, 25% of sales tax revenue appropriated
for quick reaction to unknown projects
–$1.5M in 2017
•Additional Contingency Reserve for economic
downturn, 25% of sales tax revenue
–$1.5M in 2017
Page 55 of 72
FY2017 Annual Budget
Administrative Contract
2016
•Complex methodology calculating individual
staff hours
•GTEC 2016 Budget: $358,132
•Significant savings in City’s Joint Services fund
in current year due to staff vacancies
•Credit applied to all paying funds Citywide
•GTEC 2016 Projection: $123,701
Page 56 of 72
FY2017 Annual Budget
Administrative Contract
2017
•Simple methodology calculating percent of total
costs based upon estimate of staff support
–Transportation Administration 30%
–Finance and Accounting 0.75%
–Legal Department 12.5%
•Joint Services fund balance credit applied
Citywide
•GTEC 2017 Budget: $329,395
Page 57 of 72
400 - GTEC
FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Beginning Fund Balance 13,347,960 8,592,116 8,528,267 5,328,419 - 5,328,419
Revenues FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Bond Proceeds 7,755,000 17,500,000 11,150,000 1,850,000 - 1,850,000
Grant Revenue 658,985 450,000 450,000 - - -
Interest 52,295 15,000 36,000 50,000 - 50,000
Interlocal Agreement 93,960 - - 2,905,356 - 2,905,356
Misc Revenue 189,672 - - - - -
Sales Tax 5,246,213 5,381,250 5,625,000 5,875,000 - 5,875,000
Transfer In, SRF 489,915 500,000 500,000 500,000 - 500,000
Grand Total 14,486,039 23,846,250 17,761,000 11,180,356 - 11,180,356
Expenses FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Admin & Other 343,901 376,132 124,901 330,895 - 330,895
Debt Service 10,305,265 2,572,312 2,063,145 3,414,754 - 3,414,754
New Transportation - Streets 8,656,826 26,333,831 18,772,802 10,818,750 - 10,818,750
Grand Total 19,305,992 29,282,275 20,960,848 14,564,399 - 14,564,399
FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
Ending Fund Balance 8,528,006 3,156,091 5,328,419 1,944,376 - 1,944,376
CAFR Adjustment 260 - - - - -
Contingency 1,501,000 1,474,063 1,474,063 1,468,750 - 1,468,750
Available Fund Balance 7,027,267 1,682,028 3,854,356 475,626 - 475,626
Page 58 of 72
Account Gl Mapping FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
400-4-0000-49-109 TRANSFER IN, SRF Transfer In, SRF 489,915 500,000 500,000 500,000 - 500,000
400-4-0901-40-105 SALES TAX Sales Tax 5,246,213 5,381,250 5,625,000 5,875,000 - 5,875,000
400-4-0901-42-100 ALLOCATED INTEREST Interest 1,093 - - - - -
400-4-0901-42-110 DIRECT INTEREST Interest 51,202 15,000 36,000 50,000 - 50,000
400-4-0901-44-105 MISCELLANEOUS REVENUE Misc Revenue 189,672 - - - - -
400-4-0901-45-101 OTHER GRANT REVENUE Grant Revenue 658,985 450,000 450,000 - - -
400-4-0901-45-103 INTERLOCAL AGREEMENT Interlocal Agreeme 93,960 - - 2,905,356 - 2,905,356
400-4-0901-47-100 BOND PROCEEDS Bond Proceeds 7,755,000 17,500,000 11,150,000 1,850,000 - 1,850,000
14,486,039 23,846,250 17,761,000 11,180,356 - 11,180,356
Page 59 of 72
Account Gl Mapping FY2015 Actual FY2016 Budget FY2016 Projected FY2017 Base FY2017 Changes FY2017 Budget
400-9-0980-90-060 MAYS STREET New Transportatio 508,330 10,150,000 10,150,000 3,500,000 - 3,500,000
400-9-0980-90-063 PECAN CENTER DR./ AIRPORT RD.New Transportatio 485,700 6,364,000 2,000,000 1,850,000 - 1,850,000
400-6-0901-60-001 TRANSFER OUT - DEBT SERVICE Debt Service 1,699,395 1,732,562 1,732,562 2,575,604 - 2,575,604
400-9-0980-90-062 RIVERY EXT (WILLIAMS DR -NWEST New Transportatio 89 1,500,000 1,590,966 4,000,000 - 4,000,000
400-9-0980-90-064 RIVERY TIA IMPROVEMENTS New Transportatio - 1,400,000 400,000 - - -
400-9-0980-90-036 ECO DEVO PROJECTS New Transportatio - 1,345,312 - 1,468,750 - 1,468,750
400-9-0980-90-022 SH 29 TO RM2243 SW BYPASS New Transportatio 3,588,432 1,332,579 1,332,579 - - -
400-9-0980-90-024 SW BYPASS-2243 TO IH35 New Transportatio 378,900 1,121,000 1,121,000 - - -
400-9-0980-90-053 WILLIAMS DRIVE GATEWAY New Transportatio 706,110 794,000 794,000 - - -
400-9-0980-90-057 RIVERY ROAD New Transportatio - 721,000 721,000 - - -
400-9-0980-90-059 IH 35/ HWY 29 INTERSECTION IMP New Transportatio - 650,000 - - - -
400-6-9990-60-100 PRINCIPAL REDUCTION Debt Service - 530,000 530,000 540,000 - 540,000
400-9-0980-90-014 ROW - 1460 New Transportatio 605,391 500,000 500,000 - - -
400-6-9990-60-200 INTEREST EXPENSE Debt Service 349,308 309,750 309,750 299,150 - 299,150
400-9-0980-90-047 WOLF RANCH PKWY EXTENSION New Transportatio - 283,350 - - - -
400-5-0902-51-970 ADMINISTRATION ALLOCATIONS Admin & Other 258,069 271,732 73,534 180,312 - 180,312
400-9-0980-90-044 FM 971/ FONTANA (NW BRIDGE)New Transportatio - 91,590 91,590 - - -
400-5-0902-51-969 ADMINISTRATION CONTRACT Admin & Other 77,000 86,400 50,167 149,083 - 149,083
400-9-0980-90-061 FM1460 WIDENING New Transportatio 239,204 61,000 61,000 - - -
400-9-0980-90-050 SNEAD DRIVE New Transportatio 1,108,514 20,000 46 - - -
400-5-0902-51-330 SPECIAL SERVICES Admin & Other 8,078 15,000 - - - -
400-5-0902-51-110 OFFICE SUPPLIES Admin & Other 442 1,500 500 - - -
400-5-0902-51-630 TRAVEL & TRAINING Admin & Other 175 1,200 400 1,200 - 1,200
400-5-0902-51-130 ADS, NOTICES, RECORDING FEES Admin & Other 138 300 300 300 - 300
400-6-0901-60-300 BOND ISSUANCE COSTS Debt Service (4,389) - - - - -
400-6-9990-60-300 BOND ISSUANCE COSTS Debt Service (571,259) - (509,167) - - -
400-6-9990-60-302 PAYMENT TO REFUNDING ESCROW Debt Service 8,832,210 - - - - -
400-9-0980-90-023 SW INNER LP-29 TO SW BYPASS New Transportatio 8,585 - 8,585 - - -
400-9-0980-90-025 ARTERIAL SE1:INNER LOOP/SH130 New Transportatio 111,681 - 2,036 - - -
400-9-0980-90-035 WILLIAMS DR WIDENING New Transportatio 915,891 - - - - -
19,305,992 29,282,275 20,960,848 14,564,399 - 14,564,399
Page 60 of 72
ADMINISTRATIVE SERVICES CONTRACT
BETWEEN THE CITY OF GEORGETOWN, TEXAS
AND THE GEORGETOWN TRANSPORTATION ENHANCEMENT
CORPORATION
STATE OF TEXAS §
COUNTY OF WILLIAMSON §
THIS CONTRACT FOR SERVICES ("Contract") is made by and between the City
of Georgetown, 113 East 8th Street, Georgetown, Texas 78626, hereinafter called
"City" and the Georgetown Transportation Enhancement Corporation, having its
principal business address at 113 East 8th Street, Georgetown, Texas 78626,
hereinafter called "Corporation" for the purpose of contracting for administrative
services of the staff and employees of the City.
WITNESSETH
WHEREAS, on May 5, 2001 the City established the Corporation pursuant to
Vernon's Rev. Civ. Stat. Ann., Article 5190.6. Section 4(B) to pay the costs of
streets, roads, drainage, and other related transportatin system improvements,
inlcuding the payment of maintenance and operating expenses associated with
such authorized projects.
WHEREAS, on October 9, 2001 the City approved the Articles of Incorporation and
Bylaws of the Corporation.
WHEREAS, Section 3.08 of said Bylaws provide that the City and the Corporation
shall execute an administrative services contract for the services to be provided to
the Corporation by the City by the general manager, finance manager, Secretary,
and other City services or functions, pursuant to Vernon’s Rev. Civ. Stat. Ann.
Section 2(4), as amended, which authorizes the Corporation to pay administrative,
legal and engineering services expenses which are necessary or incidental to
placing a project into operation; and
WHEREAS. the City and Corporation desire to contract for administrative services
described as follows: the services provided by the City Manager, Finance Director,
City Secretary, and the staff and employees of the City's Finance and
Administration Division, the Transportation Division, and the City Attorney's Office,
Page 61 of 72
AGREEMENT
NOW, THEREFORE, the City and Corporation, in consideration of the mutual
covenants and agreements herein contained, do hereby mutually agree as
follows:
ARTICLE I
SCOPE OF SERVICES TO BE PROVIDED BY CITY
The City will furnish items and perform those services for fulfillment of the Contract
as identified in the Bylaws of the Corporation as set forth in bylaws of the
corporation.
ARTICLE 2
CONTRACT PERIOD
This Contract shall begin at the start of business on October 1, 2016 and terminate
at the close of business on September 30, 2017 unless extended by written
supplemental agreement duty executed by the Corporation and the City prior to
the date of termination. Any work performed or cost incurred after the date of
termination shall be ineligible for reimbursement.
ARTICLE 3
CONTRACT PRICE
Corporation shall pay City for the services contemplated herein as follows:
1. For all administrative and legal services, the monthly flat fee of $27,450 as identified
in Attachment A.
External third party legal services will be billed separately as needed.
2. external third party legal services will be billed separately as needed.
The allocation of costs will be identified annually in Attachment A – GTEC
Allocation Breakdown
ARTICLE 4
PAYMENT PROCEDURES
The Corporation shall pay the City $27,450 per month on the first of each month,
begininng on October 1, 2016, during the term of this Agreement. In addition, the
Corporation shall pay for all external legal or other professional services invoices
pursuant to the Article 3 within thirty (30) days of receipt.
Page 62 of 72
ARTICLE 5
OWNERSHIP OF DOCUMENTS
All data, basic sketches, charts, calculations, plans, specifications, and other
documents created or collected under the terms of this Contract are the exclusive
property of the Corporation and shall be furnished to the Corporation upon request.
Release of information shall be in conformance with the Texas Public Information
Act.
ARTICLE 6
SUSPENSION
As authorized by Section 3.08 of the Corporation’s Bylaws, the City may suspend
services under this Contract without committing a breach of its terms upon the
occurrence of any of the following:
(1) The City Manager does not approve of the utilization of any or all services;
(2) The City Manager feels the City is not receiving reasonable compensation for
any or all services; or
(3) The performance of a service materially interferes with the other duties of the
affected City personnel.
ARTICLE 7
TERMINATION
The Contract may be terminated before the stated termination date by any of the
following conditions:
(1) By mutual agreement and consent, in writing of both parties.
(2) By either party, upon the failure of the other party to fulfill its obligations as set
forth herein.
(3) By either party for reasons of its own and not subject to the mutual consent of
the other party, upon not less than thirty (30) days written notice to the other party.
The termination of this Contract and Payment of an amount in settlement as
prescribed in Article 3, above shall extinguish all rights, duties, and obligations of
the City and the Corporation under this Contract.
ARTICLE 8
INDEMINIFICATION
Corporation's Indemnification. The Corporation agrees, to the extent permitted
by law, to save harmless the City and its officers and employees from all claims
and liability due to activities of itself, its agents, or employees, performed under
this Contract and which are caused by or result from error, omission, or negligent
Page 63 of 72
act of the Corporation or of any person employed by the Corporation. The
Corporation shall also save harmless the City from any and all expense, including,
but not limited to, attorney fees which may be incurred by the City in litigation or
otherwise resisting said claim or liabilities which may be imposed on the City as a
result of such activities by the Corporation, its agents, or employees. This
indemnity shall not include claims based upon or arising out of the willful
misconduct of City, its officers or employees. Further, this indemnity shall not
require payment of a claim by City or its officers or employees as a condition
precedent to City's recovery under this provision.
City's Indemnification. The City agrees, to the extent permitted by law, to save
harmless the Corporation from all claims and liability due to activities of itself, its
agents, or employees, performed under this Contract and which are caused by or
result from error, omission, or negligent act of the City or of any person employed
by the City. The City shall also save harmless die Corporation from any and all
expense, including, but not limited to, attorney fees which my be incurred by the
Corporation in litigation or otherwise resisting said claim or liabilities which may be
imposed on the Corporation as a result of such activities by the City, its agents, or
employees. This indemnity shall not include claims based upon or arising out of
the willful misconduct of Corporation, its officers or employees. Further, this
indemnity shall not require payment of a claim by Corporation or its officers or
employees as a condition precedent to Corporation's recovery under this provision.
ARTICLE 9
SEVERABILITY
In the event any one or more of the provisions contained in this Contract shall for
any reason, be held to be invalid, illegal, or unenforceable in any respect, such
invalidity, illegality, or unenforceability shall not affect any other provision thereof
and this Contract shall be construed as if such invalid, illegal, or unenforceable
provision had never been contained herein.
ARTICLE 10
PRIOR CONTRACTS SUPERSEDED
This Contract constitutes the sole and only agreement of the parties hereto and
supersedes any prior understandings or written or oral contracts between the
parties respecting the subject matter defined herein.
Page 64 of 72
ARTICLE 11
NOTICES
All notices to either party by the other required under this Contract shall be
personally delivered or mailed to such party at the following respective
addresses:
For City: City Manager
City of Georgetown
P.O. Box 409
Georgetown, Texas 78626
For Corporation: General Manager
Georgetown Transportation Enhancement Corporation
P.O. Box 409
Georgetown, Texas 78626
Page 65 of 72
ARTICLE 12
SIGNATORY WARRANTY
The undersigned signatory or signatories for the parties hereby represent and
warrant that the signatory is an officer of the organization for which he or she has
executed this Contract and that he or she has full and complete authority to enter
into this Contract on behalf of the firm. The above-stated representations and
warranties are made for the purpose of inducing the other party to enter into this
Contract.
IN WITNESS HEREOF, the City and the Corporation have executed these
presents in duplicate on this the ___________day of ________________, 2016.
GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION
By:
Printed Name:
Title:
ATTEST:
By:
Printed Name:
Title:
CITY OF GEORGETOWN
By:
Printed Name: Dale Ross
Title: Mayor
ATTEST:
By:
Printed Name: Shelley Nowling
Title: City Secretary
APPROVED AS TO FORM:
Printed Name: Charles McNabb
Title: City Attorney
Page 66 of 72
Attachment A
GTEC Administrative Allocation 2017 Monthly
Transportation Administration 30%
180,312 15,026
Finance and Accounting 0.75%
45,310 3,776
Legal Department 12.5%
103,773 8,648
Total
329,395 27,450
Page 67 of 72
1
Georgetown Transportation Enhancement
Corporation (GTEC)
Fiscal and Budgetary Policy
Approved August 18, 2004
(Amended by City Council September 28, 2004)
I. PURPOSE
The Georgetown Transportation Enhancement Corporation (GTEC), the City of
Georgetown’s 4B Economic Development Corporation, is committed to financial
management through integrity, prudent stewardship, planning, accountability, full disclosure
and communication. The broad purpose of the Fiscal and Budgetary Policies is to enable
GTEC to achieve and maintain a long-term stable and positive financial condition.
Policy scope generally spans areas of accounting and financial reporting, capital budgeting,
revenue management, investment and asset management, debt management and
forecasting. This is done in order to:
A. Demonstrate to the citizens of Georgetown, the investment community, and the bond
rating agencies that GTEC is committed to a strong fiscal operation;
B. Fairly present and fully disclose the financial position of GTEC in conformity to generally
accepted accounting principals (GAAP); and
C. Demonstrate compliance with finance-related legal and contractual issues in accordance
with the Texas Local Government Code and other legal mandates.
These policies will be reviewed and updated annually by the GTEC Board as part of the
budget preparation process and approved by the City Council.
GTEC operates on a modified accrual basis, whereby, revenues are recognized when they
are measurable and available and expenditures when goods and services are received,
except for principal and interest on long-term debt, which is recognized when paid.
II. OPERATING BUDGET
Budgeting is an essential element of the financial planning, control and evaluation process
of municipal government. GTEC bylaws and state law require a public hearing on the
GTEC budget, which is then approved by the City Council. In accordance with state law,
individual public hearings are held on specific construction projects that GTEC undertakes.
The operating budget will include administrative costs associated with operation of the
Corporation, including an interlocal agreement with the City for management oversight.
Other direct costs, such as legal fees and specialized consultant costs are also included.
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III. EXPENDITURE POLICIES
A. Appropriations – Appropriations are made as part of the annual budget process.
All GTEC expenditures related to those appropriations will be made in compliance
with City of Georgetown policies, authorized by the appropriate parties. Per the
GTEC bylaws, appropriations included in the GTEC budget and approved by the
GTEC Board, are then authorized by the City Council. Public hearings are held for
the GTEC budget, as well as, individual capital improvement projects in compliance
with state laws. Spending of project appropriations is withheld for 60 days after the
public hearing, to allow for public opposition, if any to the project.
Both the General Manager and the Finance Manager must approve associated
expenditure requests related to the appropriation prior to the release of funds.
Budget Amendments –Budget amendments may be needed from time to time for
expenditures that were unknown at the time the budget was adopted. All budget
amendments, once approved by the Board, are authorized by the City Council, prior
to the public hearing process. The Director of Finance and Administration must
certify availability of revenues or funding sources prior to adoption of any budget
amendment.
B. Purchasing – All GTEC purchases of goods or services will be made in accordance
with the City’s current Purchasing Policy and with State law.
C. Prompt Payment – All invoices approved for payment by the proper GTEC
authorities shall be paid within thirty (30) calendar days of receipt of goods or
services or invoice date, whichever is later in accordance with State law.
IV. CAPITAL IMPROVEMENT PROGRAM (CIP) BUDGET
GTEC’s primary purpose is to develop transportation projects that have an economic benefit
to the community, as defined by the City’s 4B ballot language and state laws.
A. Preparation – The Board annually updates and adopts a five-year Transportation
Improvement Program (TIP) schedule as part of the annual budget adoption process.
The Board, when developing the TIP, will consider the economic benefit of each
project and its eligibility for GTEC funding. The TIP is reviewed and adjusted
annually as needed, and year one is adopted as the current year capital budget.
The capital budget will include all capital projects, capital resources, and estimated
operational impacts.
• Undetermined Capital Project – An amount equal to 25% of the annual
estimated sales tax revenues will be appropriated as an undetermined capital
project to provide the Board and the Council with available, previously
uncommitted funds for any potential economic development project that is
brought forward during the fiscal year that meets the required GTEC criteria.
This reserve will remain in the GTEC fund and will not be cumulative from
year to year. If funds are spent in one fiscal year, the appropriation will be
brought up to the 25% reserve in the following budget year. Individual
projects funded through this line item will require approval from the GTEC
Board and City Council prior to a public hearing on the individual project.
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3
B. Control – All capital project expenditures must be appropriated in the capital budget.
Availability of resources must be identified, and then reviewed by the Finance
Division before any GTEC contract is presented to the City Council for approval..
V. ACCOUNTING, AUDITING AND FINANCIAL REPORTING
A. Accounting – The City is solely responsible for the recording and reporting of
GTEC’s financial affairs, both internally and externally. The City’s Director of
Finance and Administration is GTEC’s Financial Manager and Chief Financial Officer
and is responsible for establishing the structure for the GTEC Chart of Accounts and
for assuring that procedures are in place to properly record financial transactions and
report GTEC’s financial position.
B. Audit of Accounts – In accordance with the Charter, an independent audit of GTEC
accounts will be performed every year. The auditor is retained by and is accountable
directly to the City Council.
C. External Reporting – GTEC is considered a “component unit” of the City of
Georgetown and is therefore included in the City’s Comprehensive Annual Financial
Report (CAFR) as a Special Revenue Fund.
D. Internal Reporting – The Finance Department will prepare internal financial reports,
sufficient to plan, monitor and control GTEC’s financial affairs. GTEC bylaws require
the Finance Manager to present reports to the Board on a monthly basis.
VI. ASSET MANAGEMENT
A. Cash Management and Investments – The City Council has formally approved a
separate Investment Policy for the City of Georgetown that meets the requirements
of the Public Funds Investment Act (PFIA), Section 2256 of the Texas Local
Government Code. This policy is reviewed annually by the City Council and applies
to all financial assets held by the City, including GTEC assets.
1. Statement of Cash Management Philosophy - The City shall maintain a
comprehensive cash management program to include the effective collection of
all accounts receivable, the prompt deposit of receipts to the City’s depository,
the payment of obligations, and the prudent investment of idle funds in
accordance with this policy.
2. Objectives – The City’s investment program will be conducted as to accomplish
the following listed in priority order:
• Safety of the principal invested
• Liquidity and availability of cash to pay obligations when due
• Receive the highest possible rate of return (yield) consistent with the City’s
investment policy.
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4
3. Safekeeping and Custody – Investments may only be purchased through
brokers/dealers who meet the criteria detailed in the investment policy, which
also addresses internal controls related to investments.
4. Standard of Care and Reporting – Investment will be made with judgement and
care, always considering the safety of principal to be invested and the probable
income to be derived. The Director of Finance and Administration is responsible
for the overall management of the City’s investment program and ensures all
investments are made in compliance with the investment policy. An investment
report, providing both summary and detailed information, will be presented to the
both the GTEC Board and the City Council quarterly.
5. Authorized Investments – The City can currently invest in the following:
• Certificates of Deposit
• U.S. Treasury and Agency securities
• Investment Pools that meet the requirements of the PFIA
• No-load Money Market Mutual Funds
• Fully collateralized Repurchase Agreements
• Other investments as approved by City Council and not prohibited by law
B. Fixed Assets – These assets will be reasonably safeguarded and properly
accounted for, and prudently insured. Once completed all GTEC funded
infrastructure assets are the property of the City and are accounted for as General
Fixed Assets of the City.
VII. DEBT MANAGEMENT
GTEC will issue debt only for the purpose of acquiring or constructing transportation
improvements that provide economic benefits through job creation within the
Georgetown community.
A. Usage of Debt - Long-term debt financing will be considered for non-continuous
capital improvements of which future citizens will be benefited. When GTEC utilizes
long-term financing, it will ensure that the debt is soundly financed by conservatively
projecting revenue sources that will be used to pay the debt. It will not finance the
improvement over a period greater than the useful life of the improvement and it will
determine that the cost benefit of the improvement, including interest costs, is
positive to the community.
B. Types of Debt – GTEC, on its own can issue revenue bonds, without the credit
enhancement provided by the City. By using the City’s credit, GTEC, through
certificates of obligation issued by the City on its behalf, can save interest cost of its
debt.
Page 71 of 72
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1. Revenue Bonds – Revenue bonds can be issued to provide for the capital needs
of any approved GTEC project. The GTEC sales tax revenue will be pledged
directly for repayment of the obligation. The average life of the obligation should
not exceed the useful life of the asset(s) to be funded by the bond issue and will
generally be limited to no more than twenty (20) years.
2. Self-Supporting Certificates of Obligation, Debt (CO’s) – To take advantage of
lower interest rates due to credit enhancement, the City may issue Certificates of
Obligation on behalf of GTEC for capital improvements, repaid through an
interlocal agreement with the City, with GTEC sales tax revenue.
3. Debt Coverage Ratio – Refers to the number of times the current combined debt
service requirements or payments would be covered by the current operating
revenues net of on-going operating expenses. The City will maintain a minimum
debt service coverage ratio of 1.5 times.
C. Bond Reimbursement Resolutions – GTEC may utilize bond reimbursements as a
tool to manage its debt issues, due to arbitrage requirements and project timing. In
so doing, GTEC uses its and the City’s capital reserve "cash" to delay bond issues
until such time when issuance is favorable and beneficial to the both the City and
GTEC.
VIII. FINANCIAL RESERVES
GTEC will maintain budgeted minimum reserves in the ending working capital/fund
balances to provide a secure, healthy financial base for GTEC in the event of an
economic downtown and an unexpected sales tax revenue shortfall, and provide stability
for GTEC operations.
Operating Reserves – GTEC will maintain reserves at a minimum of 90 days of
operating revenues (25% annual sales tax revenue collection) as a “contingency
reserve”.
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