HomeMy WebLinkAboutAgenda_GTEC_07.21.2021Notice of Meeting for the
Georgetown Transportation Enhancement Corp
of the City of Georgetown
July 21, 2021 at 3:30 P M
at Georgetown P ublic L ibrary - F riends Room
T he C ity o f G eorgetown is c o mmitted to c ompliance with the Americans with Dis ab ilities Ac t (ADA). If yo u
req uire as s is tanc e in participating at a p ublic meeting d ue to a disability, as d efined und er the ADA, reasonable
as s is tance, ad ap tatio ns , or acc o mmo d ations will b e provid ed up o n req uest. P leas e contac t the C ity S ecretary's
O ffic e, at leas t three (3) d ays p rio r to the s cheduled meeting date, at (512) 930-3652 or C ity Hall at 808 Martin
Luther King Jr. S treet, G eo rgeto wn, T X 78626 for ad d itional info rmation; T T Y us ers route thro ugh R elay
Texas at 711.
The Ge or ge town Transportation E nhance me nt Cor por ati on i s now mee ting
in per son with a quorum pre se nt and publ ic is we lc ome to atte nd. If spe cial
ac commodati ons are ne eded due to C O V I D -19 and atte nding vi rtually is
nee de d, pl e ase r eac h out to the S taff L iai son, C indy M e drano at 512-930-
8486 for assistanc e.
Regular Session
(T his R egular S es s ion may, at any time, be rec es s ed to c o nvene an Exec utive S es s ion for any purp o s e
authorized b y the O pen Meetings Ac t, Texas G o vernment C ode 551.)
A C all to O rd er
B Intro d uc tio n o f New Bo ard Memb ers and Vis ito rs
C J uly 2021 G T EC Up d ates - Wes ley Wright, P.E., S ystems Engineering Directo r
D C ons id eratio n o f the June 1, 2020 financ ial rep o rt - Nathan P arras, As s is tant F inanc e Direc tor
E S ales Tax P res entation - Nathan P arras, As s is tant F inanc e Direc tor
L egislativ e Regular Agenda
F C ons id eratio n and p o s s ib le approval of the minutes fro m the April 21, 2021 G T EC Bo ard Meeting. --
David Morgan - G eneral Manager, G T EC Board
G Disc ussio n and p o s s ib le ac tion to rec o mmend the F Y2022 proposed G T EC b udget and ad ministrative
services c o ntrac t – Nathan P arras , Assis tant F inance Directo r
Ce rtificate of Posting
I, R obyn Dens mo re, C ity S ec retary for the C ity of G eorgetown, Texas, do hereb y certify that this Notice of
Meeting was p o s ted at C ity Hall, 808 Martin Luther King Jr. S treet, G eorgeto wn, T X 78626, a p lace readily
acc es s ib le to the general p ublic as req uired by law, on the _____ day of _________________, 2021, at
__________, and remained so p o s ted fo r at leas t 72 c o ntinuo us hours prec eding the sc heduled time of s aid
meeting.
Page 1 of 70
__________________________________
R o b yn Dens more, C ity S ecretary
Page 2 of 70
City of Georgetown, Texas
Transportation E nhancement Corp
July 21, 2021
S UB J E C T:
J uly 2021 G T EC Updates - Wesley Wright, P.E., S ys tems Engineering Direc tor
IT E M S UMMARY:
J uly 2021 GT E C updates
D B Wood R d Widening:
S urvey and utility lo cates c o mp lete; Des ign is und erway; p ublic meeting held in June with R F I and
answers to ques tio ns to b e posted in July
Northwest B oulevard:
· P reparing fo r paving east side tie in and level-up to Aus tin Ave, temporary signal p arts
ordered .
· Es timated completio n s ummer 21
Rabbit Hill R oad Improvements:
R eturning to initial p ro ject limits with the land o wner donation of R O W. Multip le reloc ations –G eorgetown
Electric has no t s c hed uled mo ve; O NC O R elec tric move c urrently underway.
S outheast Inner loop/ S outhwestern Blvd
S o uthwes tern:
· P rep aring plan/profile s heets .
· F inalizing S torm C o nveyanc e S ys tem fo r the p ro ject
· Evaluating Water Q uality Treatment O p tions ;
· P rep aring Utility plan/profile s heets (water/was tewater)
· Identifying utility conflicts
R O W need s asc ertained to b e forward ed to
Travis b y 1-17
S E Inner Loo p :
C o ntracto r working on drainage culvert extens ion S outh side 95%,
Working on grading No rth side and new drainage ins tallatio n complete,
Base installatio n und erway S outh side
S id ewalk ins tallation underway
P ro ject c o ns truc tio n 65% c o mp lete
S H 29 Ac ces s Imp ro vements:
reengineered elec tric ho o kup and ins tallatio n loc ation to be ap p ro ved. Temporary ins tall complete; s ignal
active
Page 3 of 70
S ignal Imp rovements - Various loc ations
S hell R o ad at Verd e Vis ta and Williams Drive at Es trella Drive d es ign c o mplete s c hedules are;
Ad vertis e: July 4 & July 11
P reb id – Monday, July 12th at 2:00 fo r R R F B’s , 2:30 for Traffic S ignal
Q ues tions c ut o ff/addend um – F riday, July 16th at no o n.
Bid o p ening – T hurs day, July 22nd at 2:00 for R R F B’s, 2:30 for Traffic S ignals
L O R /Bid Tab – Mond ay, July 26th
P oles and mas t arms b eing ordered fo r R oc krid e intersec t, low bid in is EART C approved at
board and c o uncil in Marc h; c o nstruc tio n to b egin with pole d elivery to C ity
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
Wesley Wright, P.E., S ys tems Engineering Direc tor
AT TAC H ME N T S:
D escription Type
July GTEC updates Cover Memo
Page 4 of 70
GTEC Board Meeting Date: Item No.
GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION
AGENDA ITEM COVER SHEET
______________________________________________________________________________________________________________________________
_
SUBJECT: July 2021 GTEC Updates - Wesley Wright, P.E., Systems Engineering Director
__________________________________________________________________________________________________________________________________
__
ITEM SUMMARY:
July 2021 GTEC updates
DB Wood Rd Widening:
Survey and utility locates complete; Design is underway; public meeting held in June with RFI
and answers to questions to be posted in July
Northwest Boulevard:
• Preparing for paving east side tie in and level-up to Austin Ave, temporary signal parts
ordered .
• Estimated completion summer 21
Rabbit Hill Road Improvements:
Returning to initial project limits with the landowner donation of ROW. Multiple relocations –Georgetown
Electric has not scheduled move; ONCOR electric move currently underway.
Southeast Inner loop/ Southwestern Blvd
Southwestern:
• Preparing plan/profile sheets.
• Finalizing Storm Conveyance System for the project
• Evaluating Water Quality Treatment Options;
• Preparing Utility plan/profile sheets (water/wastewater)
• Identifying utility conflicts
ROW needs ascertained to be forwarded to
Travis by 1-17
SE Inner Loop:
Contractor working on drainage culvert extension South side 95%,
Working on grading North side and new drainage installation complete,
Base installation underway South side
Sidewalk installation underway
Project construction 65% complete
Page 5 of 70
SH 29 Access Improvements:
reengineered electric hookup and installation location to be approved. Temporary install complete; signal active
Signal Improvements- Various locations
Shell Road at Verde Vista and Williams Drive at Estrella Drive design complete schedules are;
Advertise: July 4 & July 11
Prebid – Monday, July 12th at 2:00 for RRFB’s, 2:30 for Traffic Signal
Questions cut off/addendum – Friday, July 16th at noon.
Bid opening – Thursday, July 22nd at 2:00 for RRFB’s, 2:30 for Traffic Signals
LOR/Bid Tab – Monday, July 26th
Poles and mast arms being ordered for Rockride intersect, low bid in is EARTC approved at
board and council in March; construction to begin with pole delivery to City
Page 6 of 70
D B Wood widening –
Project No. PRJ000188 TIP No.
July 2021
Project Description Design and preparation of Plans, Specifications, Estimate, Bidding Documents and
construction phase services for DB Wood Widening/Reconstruction from
TxDOT/County SH 29 intersection improvements to just North of Oak Ridge Rd.
Converting from ditch to storm.
Along with expansion of the Bridge at fork of San Gabriel
Purpose To better manage traffic movement.
Project Manager Joel Weaver
Engineer Kimely-Horn and Associates. Inc.
Element Status / Issues
Design Design is underway; public meeting held in June with RFI and answers to questions
to be posted in July
Surveying Initial Survey is complete
Environmental/
Archeological
Rights of Way
Utility Relocations TBD
Construction
Other Issues None
Page 7 of 70
Page 8 of 70
Northwest Boulevard
(Fontana Drive to Austin Avenue)
Project No. 5QX TIP No. AF
July 2021
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 Joel Weaver and Wesley Wright, P.E.
Engineer Klotz Associates
Element Status / Issues
Design Design Complete
Environmental/
Archeological
Complete
Rights of Way ROW Documents are being finalized. All offers have been made. 8 Parcels
required. 5 acquired, 1 in closing, 2 in condemnation.
Utility Relocations TBD
Construction • Preparing for paving east side tie in and level-up to Austin Ave,
temporary signal parts ordered .
• Estimated completion summer 21
Other Issues
Page 9 of 70
SH 29 Access Improvements – Traffic Signal
Project No. PRJ000214 TIP No. None
July 2021
Project Description Design and preparation of Plans, Specifications, Estimate, Bidding Documents and
construction phase services for the proposed corridor improvements along SH-29-
Unversity Avenue between IH35 and Scenic Drive including a right-turn
deceleration lane, auxiliary lane, median improvements, drainage improvements
and traffic signal relocation.
Purpose To better manage traffic movements at the intersection.
Project Manager Joel Weaver
Engineer Kimely-Horn and Associates. Inc.
Element Status / Issues
Design Design is complete
Surveying Survey is complete
Environmental/
Archeological
Rights of Way
Utility Relocations TBD
Construction reengineered electric hookup and installation location to be approved. Temporary
install complete; signal active
Other Issues None
Page 10 of 70
Rabbit Hill Road Improvements Project
(Westinghouse Road to S. Clearview Drive)
Project No. 5RQ TIP No. BZ
July 2021
Project Description Reconstruct Rabbit Hill Road from Westinghouse Road northward to S. Clearview
Dr. Widening along Westinghouse Road will also be included in the schematic for
additional turning lanes to/from Westinghouse Road. The project length along the
anticipated alignment is approximately 0.75 miles
Project Managers Joel Weaver and Wesley Wright, P.E.
Engineer CP&Y, Inc.
Element Status / Issues
Design Engineering complete prepping docs for summer posting.
Environmental/
Archeological
Efforts underway and any issues are expected to be identified in the coming
month.
Rights of Way Two properties acquired as part of Mays St. Extension. Two
remaining, negotiations ongoing and Council has approved
condemnation.
Total Parcels: 4
Possession: 2
Pending: 2
Utility Relocations Multiple relocations expected –Georgetown Electric has not scheduled move;
ONCOR electric move currently underway.
Construction Project to go out for bids in May 2021
Other Issues Returning to initial project limits with the landowner donation of ROW. Engineering new
schedule to post when electric move underway
Page 11 of 70
Signal Improvements – Various Locations
Project No. PRJ000214 TIP No. None
July 2021
Project Description Design and preparation of Plans, Specifications, Estimate, Bidding Documents, and
construction phase services for the construction of signal improvements for the
intersections of Williams Drive & Estrella Crossing, Shell Road & Verde Vista and
SE Inner Loop & Rockride Lane.
Purpose To better manage traffic movements at the intersection.
Project Manager
Engineer KPA
Element Status / Issues
Design Shell Road at Verde Vista and Williams Drive at Estrella Drive schedules are;
Advertise: July 4 & July 11
Prebid – Monday, July 12th at 2:00 for RRFB’s, 2:30 for Traffic Signal
Questions cut off/addendum – Friday, July 16th at noon.
Bid opening – Thursday, July 22nd at 2:00 for RRFB’s, 2:30 for Traffic Signals
LOR/Bid Tab – Monday, July 26th
Surveying Shell location being surveyed.
Environmental/
Archeological
TBD
Rights of Way TBD
Utility Relocations TBD
Construction Rockride intersection bid- low bidder EARTC, project to kick off when poles
delivered
Other Issues None
Page 12 of 70
Widening of: SE Inner Loop - FM 1460 to Austin Avenue Roadway &
Southwestern Boulevard – Raintree Drive to SE Inner Loop Roadway
July 2021
Project Description FM 1460 to Austin Avenue Roadway Widening Project & Southwestern Boulevard –
Raintree Drive to SE Inner Loop Roadway Widening Project (See Attached Exhibit C). The
professional services will consist of providing final roadway, drainage, water, wastewater,
incidental designs, as well as, utility coordination, ROW support, environmental phase I
investigations, archeological investigations, geotechnical investigations, ROW &
Temporary Construction Easement (TCE) metes and bounds documents, bidding
documents, bidding services, and construction administration services.
Project Managers Joel Weaver and Wesley Wright, P.E.
Engineer KPA & Associates
Element Status / Issues
Design Southwestern:
• Preliminary alignment revised
• Performing Hydrologic and Hydraulic calculations
• ROW needs forwarded to Travis
Environmental/
Archeological
Efforts to begin April 2019 and any issues are expected to be identified in the
coming month.
Utility Relocations To be determined
Construction Contractor working on drainage culvert extension South side 95%,
Working on grading North side and new drainage installation complete,
Base installation underway South side
Sidewalk installation underway
Project construction 65% complete
Other Issues None.
Page 13 of 70
City of Georgetown, Texas
Transportation E nhancement Corp
July 21, 2021
S UB J E C T:
C o nsideration of the June 1, 2020 financial report - Nathan P arras , Assistant F inance Directo r
IT E M S UMMARY:
T he c o rp o rate bylaws req uire the F inanc e Manager to p res ent the mo nthly financ ial rep o rts to the Bo ard.
Includ ed in thes e reports will be:
F inancial reports
S ales Tax revenues
Monthly exp enditures
Any other relevant financ ial info rmatio n
S ales tax revenue is two months in arrears; therefo re the revenues reflect only the amo unt received , not
actually earned, as o f the rep o rt d ate.
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
Nathan P arras , As s is tant F inance Directo r
AT TAC H ME N T S:
D escription Type
GTEC Executive Summary Executive Summary
June Financial Backup Material
June Pres entation Pres entation
Page 14 of 70
F
GTEC MONTHLY REPORT AS OF JUNE 30, 2021
Operating revenue is comprised of sales tax and
allocated interest. The budget for sales tax collections
for GTEC is $8,255,000. Year-to-date sales tax revenue
totals $5,849,118, or 70.86% of budget. Through this
period, sales tax collections are up $1,153,611, or 25%
over year-to-date collections from the prior fiscal
year. The City continues to see and monitor the strong
performance in sales tax.
Operating expenses year to date total $636,432, or
20% 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 expense $268,108, or 66.67% of
budget. GTEC will transfer out $2,763,242 for their
portion of debt that is paid out of the General Debt
Service fund.
Non-Operating revenue has a budget of $8,000,000 and is made up of bond proceeds. Year to date the fund has
collected $7,405,000 in bond proceed revenues and $731,229 in bond premiums. The bond proceeds are budgeted
for the Aviation Drive project.
Non-Operating expense budget totals $23,514,238. Year-to-date non-operating expenses total $1,784,723, or
7.59% of budget through the period. Non-Operating expenses include funding for strategic partnerships, capital
improvement projects, and debt service payment. GTEC’s debt service payment includes principal reduction of
$620,000, and an interest expense of $219,550. The debt service payment is made annually in the spring and aligns
all other debt service payments for the City. CIP expense totals $20,476,813 in the current year. This amount
includes the CIP Roll Forward amendment approved by Council in January.
Ending fund balance for FY2021 is anticipated to be $20,664,256. After accounting for the contingency reserve of
$1,984,375, and the debt service reserve of $3,494,232, this fund will have an available fund balance of
$15,185,649.
24.57% 5,849,118
SALES TAX
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Page 15 of 70
COG ‐ GTEC Financial Report
Period: Jun‐21
Budget Period
FY2021 Jun‐21
YTD Actuals
w/Encumbrances Variance % of Budget
Beginning Fund Balance 31,029,698 ‐ 31,029,698 ‐ 100.00%
Operating Revenue
40002:Sales Taxes 8,255,000 895,369 5,849,118 (2,405,882) 70.86%
42001:Interest Income 60,000 1,544 21,248 (38,752) 35.41%
Operating Revenue Total 8,315,000 896,913 5,870,366 (2,444,634) 70.60%
Operating Expense
53001:Public Notices & Recording Fees 300 ‐ ‐ 300 0.00%
53016:Travel Expense 500 ‐ ‐ 500 0.00%
51001:Administrative Expense 402,162 ‐ 268,108 134,054 66.67%
51005:Professional Services ‐ ‐ (55,939) 55,939 0.00%
60010:Capital Outlay ‐ ‐ 4,140 (4,140) 0.00%
80001:Transfers Out 2,763,242 ‐ 420,122 2,343,120 15.20%
Operating Expense Total 3,166,204 ‐ 636,432 2,529,772 20.10%
Total Net Operations 5,148,796 896,913 5,233,934 85,138 101.65%
Non‐Operating Revenue
46001:Bond Proceeds 8,000,000 ‐ 7,405,000 (595,000) 92.56%
46002:Bond Premium ‐ ‐ 731,229 731,229 0.00%
Non‐Operating Revenue Total 8,000,000 ‐ 8,136,229 136,229 101.70%
Non‐Operating Expense
53011:Economic Development Agreements 1,984,375 ‐ ‐ 1,984,375 0.00%
62001:CIP Expense 20,476,813 3,408 1,628,924 18,847,890 7.95%
55001:Principal Reduction 620,000 ‐ ‐ 620,000 0.00%
55002:Interest Expense 219,550 ‐ 110,525 109,025 50.34%
55003:Handling Fees 1,500 ‐ ‐ 1,500 0.00%
55004:Bond Issuance Costs 212,000 ‐ 45,275 166,725 21.36%
Non‐Operating Expense Total 23,514,238 3,408 1,784,723 21,729,515 7.59%
Net Non‐Operations Total (15,514,238) (3,408) 6,351,506 21,865,744 ‐40.94%
Excess (Deficiency) of Total Revenue over Total
Requirements (10,365,442) 893,506 11,585,440 1,219,998 ‐11.77%
Ending Fund Balance 20,664,256 893,506 42,615,138 21,950,882 206.23%
Reserves
Contingency Reserve 1,984,375 ‐ 1,984,375 ‐ 100.00%
Debt Service Reserve 3,494,232 ‐ 3,494,232 ‐ 100.00%
Reserves Total 5,478,607 ‐ 5,478,607 ‐ 100.00%
Available Fund Balance 15,185,649 ‐ 37,136,531 21,950,882 244.55%
YTD Actuals Budget Vs. Actuals
Page 16 of 70
GTEC
Financial Summary: June 21Page 17 of 70
FY2021 FINANCIAL SUMMARY: GTEC
GTEC Revenue
•FY2021 Revenue Budget •Revenue Budget Sources
•The FY2021 revenue budget for
the GTEC is $16.3 million
•99% of budgeted operating
revenue is sales tax, $8.3 million
•Interest Income accounts for
$60,000
•Bond proceeds total $8 million
50.60%
0.37%
49.03%
40002:Sales Taxes
42001:Interest Income
46001:Bond Proceeds
Page 18 of 70
FY2021 FINANCIAL SUMMARY: GTEC
GTEC Revenue
COG - GTEC Financial Report
Period: Jun-21
Budget
FY2021 Jun-20 Jun-21 Variance % Variance
Variance from
Budget % of Budget
Operating Revenue
40002:Sales Taxes 8,255,000 4,695,507 5,849,118 1,153,611 24.57%(2,405,882) 70.86%
42001:Interest Income 60,000 250,899 21,248 (229,651) -91.53%(38,752) 35.41%
Operating Revenue Total 8,315,000 4,946,406 5,870,366 923,960 18.68%(2,444,634) 70.60%
Non-Operating Revenue
46001:Bond Proceeds 8,000,000 4,740,000 7,405,000 2,665,000 56.22%(595,000) 92.56%
46002:Bond Premium - - 731,229 731,229 0.00%731,229 0.00%
Non-Operating Revenue Total 8,000,000 4,740,000 8,136,229 3,396,229 71.65%136,229 101.70%
YTD Comparison YTD Budget Comparison
Page 19 of 70
FY2021 FINANCIAL SUMMARY: GTEC
GTEC Revenue
•Sales Tax
•Year -to-date sales tax revenue
totals $5.85 million, 70.86% of
budget
•FY2021 year-to-date collections
are 18.7% more than FY2020 year-
to-date collections
•There is a two-month lag on sales
tax collections.
24.57% 5,849,118
SALES TAX
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FY2020 FY2021
Page 20 of 70
FY2021 FINANCIAL SUMMARY: GTEC
GTEC Expense
•FY2021 Expense Budget •Expense Budget Sources
•The FY2021 expense budget for
the GTEC is $26.7 million
•11.9% of budgeted expenses are
for operations
•76.8% of budgeted expenses are
for CIP expense
•10.4% of budget is for transfer out
to other City funds.
•2.3% budget is for debt service
payment
8.95%
10.36%
76.75%
3.95%
Operations
Transfers
CIP Expense
Debt Service
Page 21 of 70
FY2021 FINANCIAL SUMMARY: GTEC
GTEC Expense
COG - GTEC Financial Report
Period: Jun-21
Budget
FY2021
YTD Actuals
w/Encumbrances:
Jun-20
YTD Actuals
w/Encumbrances:
Jun-21 Variance % Variance
Variance from
Budget % of Budget
Operating Expense
51001:Administrative Expense 402,162 307,067 268,108 38,959 -12.69%134,054 66.67%
51005:Professional Services - 264,149 (55,939) 320,088 -121.18%55,939 0.00%
53001:Public Notices & Recording Fees 300 660 - 660 -100.00%300 0.00%
53010:Uniform Expense - 383 - 383 -100.00%- 0.00%
53016:Travel Expense 500 - - - 0.00%500 0.00%
60004:Capital Outlay - Equipment - 34,777 - 34,777 -100.00%- 0.00%
60010:Capital Outlay - 217,800 4,140 213,659 -98.10%(4,140) 0.00%
80001:Transfers Out 2,763,242 365,635 420,122 (54,488) 14.90%2,343,120 15.20%
Operating Expense Total 3,166,204 1,190,471 636,432 554,039 -46.54%2,529,772 20.10%
Non-Operating Expense
53011:Economic Development Agreement 1,984,375 - - - 0.00%1,984,375 0.00%
55001:Principal Reduction 620,000 - - - 0.00%620,000 0.00%
55002:Interest Expense 219,550 121,675 110,525 11,150 -9.16%109,025 50.34%
55003:Handling Fees 1,500 750 - 750 -100.00%1,500 0.00%
55004:Bond Issuance Costs 212,000 40,000 45,275 (5,275) 13.19%166,725 21.36%
62001:CIP Expense 20,476,813 138,086 1,628,924 (1,490,838) 1079.65%18,847,890 7.95%
Non-Operating Expense Total 23,514,238 300,511 1,784,723 (1,484,213) 493.90%21,729,515 7.59%
YTD Actuals w/Encumbrances Comparison YTD Budget Comparison
Page 22 of 70
FY2021 FINANCIAL SUMMARY: GTEC
Questions
Page 23 of 70
City of Georgetown, Texas
Transportation E nhancement Corp
July 21, 2021
S UB J E C T:
S ales Tax P res entatio n - Nathan P arras , Ass is tant F inance Directo r
IT E M S UMMARY:
R eview of the s ales tax metho d o lo gy and pro jec tio ns .
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
Nathan P arras , As s is tant F inance Directo r
AT TAC H ME N T S:
D escription Type
Sales Tax Pres entation Pres entation
Page 24 of 70
FY2020 Annual Budget
Sales Tax Methodology
Page 25 of 70
FY2020 Annual Budget
Overview of Sales Tax
•$0.02
•$0.0625
•$0.0825
Page 26 of 70
FY2020 Annual Budget
Sales Tax Break Down –The City
of Georgetown’s Two Cents
Page 27 of 70
FY2020 Annual BudgetSales Tax Model –Shape of
Data
Page 28 of 70
FY2020 Annual BudgetSales Tax Model –Large Data
Sources•Two Major Sources
of Data:
–Confidential Report
from the State
Comptrollers Office
(200,000 rows of
data per month)
–All Cities Data
(230,000 rows of
data annually)
Page 29 of 70
FY2020 Annual BudgetSales Tax Model –Excel Power
Pivot
Page 30 of 70
FY2020 Annual Budget
Sales Tax Model -NAICS
North
American
Industrial
Classificatio
n
System
Page 31 of 70
FY2020 Annual Budget
Sales Tax Model -Tables
Page 32 of 70
FY2020 Annual Budget
Sales Tax Model -Slicers
Page 33 of 70
FY2020 Annual Budget
Sales Tax Model -Slicers
Page 34 of 70
FY2020 Annual Budget
Sales Tax Model -Sector
•FY2020 core sectors –
63%
•Food
•Retail
•Information
Page 35 of 70
FY2020 Annual Budget
Sales Tax Model -Subsector
•Information
Subsector
Page 36 of 70
FY2020 Annual Budget
Forecasting –Multiple Views
•Different trend analysis
–Regression types
–Different timeframes
•Correlation Models
–Aggregate
–Sector Based
Page 37 of 70
FY2020 Annual BudgetForecasting –Consistency in
Data
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
3,000,000
3,500,000
4,000,000
4,500,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 16
FY 17
FY 18
FY 19
FY20
FY21
Page 38 of 70
FY2020 Annual Budget
Forecasting -Multiplier
Month Month %Running Month %Multiplier
01) Oct 7.28%7.28%13.74
02) Nov 7.25%14.53%6.88
03) Dec 10.36%24.89%4.02
04) Jan 7.18%32.07%3.12
05) Feb 6.77%38.84%2.57
06) Mar 9.65%48.49%2.06
07) Apr 7.83%56.32%1.78
08) May 8.06%64.38%1.55
09) Jun 9.80%74.18%1.35
10) Jul 8.18%82.35%1.21
11) Aug 8.34%90.69%1.10
12) Sep 9.31%100.00%1.00
Page 39 of 70
FY2020 Annual BudgetForecasting –Another way to
think about this…
Player Average Points Per
Game
% of Total
Points
Projected Team
Total
Tim Duncan 19 40%87.5
Tony Parker 15.5 30%93.3
Manu Ginobili 13.3 27%88.9
Page 40 of 70
FY2020 Annual Budget
Forecasting –Major Sectors
•Four Year Average of
Sectors
•Food
•Retail
•Information
Page 41 of 70
FY2020 Annual Budget
Forecasting
•Multi-Level Analysis
–Georgetown Data
–Austin MSA region
–Top Twenty cities in Texas
–Regions in Texas
–All Cities in Texas
Page 42 of 70
FY2020 Annual Budget
Forecasting –Score Card
Fiscal Year Actual Projection Variance % Variance
FY2015 $20,984,850 $21,000,000 (15,150)-0.07%
FY2016 $23,437,496 $22,900,000 537,496 2.35%
FY2017 $25,102,936 $25,300,000 (197,064)-0.78%
FY2018 $27,254,787 $27,100,000 154,787 0.57%
FY2019 $29,478,587 $29,750,000 (271,413)-0.91
FY2020*$33,965,302 $31,900,000 (2,065,302)-6.08
Total $160,223,958 $157,950,000 (2,273,958)1.42Page 43 of 70
FY2020 Annual Budget
Forecasting
•FY2020: all four-year end models are
all in agreement.
–Aggregate Linear 6M 40.2M
–Aggregate Linear 12 M 39.3M
–Aggregate Linear 18M 38.5M
–Correlation 41.6M
Page 44 of 70
FY2020 Annual Budget
Forecasting
Fund FY2021 Projection FY2022 Budget
100 –General Fund $22,921,875 $23,953,359
203 –Street Maintenance
Fund
$5,093,750 $5,322,969
400 –GTEC Fund $10,187,500 $10,645,938
420 -GEDCO $2,546,875 $2,661,484
Total Sales Tax $40,750,000 $42,583,750
Page 45 of 70
FY2020 Annual Budget
Questions
Page 46 of 70
City of Georgetown, Texas
Transportation E nhancement Corp
July 21, 2021
S UB J E C T:
C o nsideration and pos s ible ap p ro val o f the minutes from the Ap ril 21, 2021 G T EC Board Meeting. --
David Morgan - G eneral Manager, G T EC Bo ard
IT E M S UMMARY:
F IN AN C IAL IMPAC T:
N/A
S UB MIT T E D B Y:
David Morgan - G eneral Manager, G T EC Bo ard
AT TAC H ME N T S:
D escription Type
04.21.21 GTEC Minutes Backup Material
Page 47 of 70
Minutes of the Meeting of
Georgetown Transportation Enhancement
Corporation and the Governing Body of the City of
Georgetown, Texas
Wednesday, April 21, 2021
The Georgetown Transportation Enhancement Corporation of the City of Georgetown,
Texas, met on Wednesday, April 21, 2021.
Regular Session:
(This Regular Session may, at any time, be recessed to convene an Executive Session for
any purpose authorized by the Open Meetings Act, Texas Government Code 551.)
A.Call to Order: Meeting was called to order at 3:32 PM by David Morgan
B.Introduction of New Board Members and Visitors
•New board members and staff were introduced.
C.Review Board/Meeting Procedures – Noah Koontz, GTEC Board Liaison
•Board Liaison reviewed board meeting procedures with the new board
members including absences and quorum.
D.April 2021 GTEC Updates – Wesley Wright, P.E., Systems Engineering Director
•Wright presented the board with transportation updates. The board had
no questions.
E.Presentation of Georgetown Transportation Enhancement Corporation
Board Members Present: Mike Triggs, Keith Fruge, John Marler, Bob Whetsell, Shawn
Hood, William Boughton
Board Members Absent: Colin McGahey
Staff Present: David Morgan, Laurie Brewer, Wayne Reed, Michaela Dollar, Noah Koontz,
Wesley Wright, Nathan Parras, Chris Pousson, Dan Southard, Katherine Clayton, Will
Parrish, Travis Baird
Others Present: None
Page 48 of 70
preliminary monthly financial reports for January 20, 2021. – Nathan Parras,
Assistant Finance Director; Leigh Wallace, Finance Director
• Parras presented the board with the monthly financial report. The board
had no questions.
Legislative Regular Agenda:
F. Nominations and election of President of the GTEC Board consistent with
Section 3.02 of the GTEC Bylaws. – David Morgan – General Manager – GTEC
• John Marler nominated as GTEC President MOTION by Mike Triggs
second by Bob Whetsell. APPROVED unanimously 6-0-1 absent:
McGahey.
G. Nominations and election of Vice-President of the GTEC Board consistent with
Section 3.02 of the GTEC Bylaws. – David Morgan – General Manager – GTEC
• Colin McGahey nominated as GTEC Vice-President MOTION by Mike
Triggs second by Keith Fruge. APPROVED unanimously 6-0-1 absent:
McGahey.
H. Nominations and election of Secretary of the GTEC Board consistent with Section
3.02 of the GTEC Bylaws – David Morgan – General Manager, GTEC
• Keith Fruge nominated as GTEC Secretary MOTION by Mike Triggs
second by John Marler. APPROVED unanimously 6-0-1 absent:
McGahey.
I. Review and possible action related to the Day and Time of the GTEC Board
Meetings. – Noah Koontz, GTEC Board Liaison
• MOTION to keep GTEC meetings to the third Wednesday of every
month at 3:30pm by Keith Fruge second by William Boughton.
APPROVED unanimously 6-0-1 absent: McGahey.
Page 49 of 70
J. Consideration and possible approval of the minutes from the January 20,2021
GTEC Board Meeting – Noah Koontz, GTEC Board Liaison
• MOTION by Bob Whetsell second by Bob Marler. APPROVED
unanimously 6-0-1 absent: McGahey.
K. Consideration and possible action to formally terminate and agreement between
the City and GTEC related to the funding of the Mays Street/Rabbit Hill project –
Laurie Brewer, Assistant City Manager
• Brewer presented the item to the board.
• Fruge asked if there were other similar situations with other projects that
GTEC has financed.
• Brewer replied that the Rivery project was one that is in a similar
situation.
• MOTION by Keith Fruge second by Shawn Hood. APPROVED
unanimously 6-0-1 absent: McGahey.
L. Public hearing by the Georgetown Transportation Enhancement Corporation
(GTEC) regarding the expenditure of 4B sales tax funds for the proposed Titan
NorhtPark35 Project – Michaela Dollar, Economic Development Director
• Dollar presented the item to the board.
• The item was opened for public hearing. There was no public comment.
• The item was closed for public hearing.
M. EXECUTIVE SESSION
In Compliance with the Open Meetings Act, Chapter 551, Government Code,
Vernon’s Texas Codes, Annotated, the item listed below will be discussed in
closed session and is subject to action in the regular session.
Sec. 551.087 Deliberation Regarding Economic Development Negotiations
Project Diana – Michaela Dollar, Economic Development Director
Page 50 of 70
N. EXECUTIVE SESSION
In Compliance with the Open Meetings Act, Chapter 551, Government Code,
Vernon’s Texas Codes, Annotated, the item listed below will be discussed in
closed session and is subject to action in the regular session.
Sec. 551.087 Deliberation Regarding Economic Development Negotiations
Project Access – Michaela Dollar, Economic Development Director
O. Consideration and possible action from Executive Session – Project Diana –
Michaela Dollar, Economic Development Director
• MOTION by Keith Fruge second by Shawn Hood. APPROVED
unanimously 6-0-1 absent: McGahey.
P. Consideration and possible action from Executive Session – Project Access –
Michaela Dollar, Economic Development Director
• MOTION by Keith Fruge second by Shawn Hood. APPROVED
unanimously 6-0-1 absent: McGahey.
Page 51 of 70
ADJOURNMENT:
• MOTION by John Marler second by Shawn Hood. APPROVED
unanimously 6-0-1 absent: McGahey.
Meeting adjourned at 3:50 PM.
Approved: Attest:
John Marler - President Keith Fruge – Secretary
Cindy Medrano – Board Liaison
Page 52 of 70
City of Georgetown, Texas
Transportation E nhancement Corp
July 21, 2021
S UB J E C T:
Dis cus s io n and pos s ible actio n to recommend the F Y2022 p ro p o s ed G T EC bud get and adminis trative
s ervic es c o ntrac t – Nathan P arras, As s is tant F inanc e Direc tor
IT E M S UMMARY:
T he proposed F Y2022 G T EC b udget inc ludes p ro jects identified fo r fund ing along with ad ministrative
costs and to tal funding req uirements.
T he p ropos ed F Y2022 b udget identifies revenues and s p ecific projec ts planned fo r the upc oming year, as
well as c o s ts as s oc iated with p as t d eb t is s uanc es .
· P ro p o s ed F Y2022 Budget P res entation and F und S c hedule
· P ro p o s ed F Y2022 Ad ministrative C ontrac t
F IN AN C IAL IMPAC T:
S P E C IAL C O N S ID E R AT IO N S
C o uncil is sc hed uled to act on all components o f the F Y2022 bud get in S ep tember 2021.
S UB MIT T E D B Y:
Nathan P arras , As s is tant F inance Directo r
AT TAC H ME N T S:
D escription Type
GTEC Adminis trative Services Contract Backup Material
FY2022 GTEC Budget and Contract Pres entation Pres entation
GTEC Summary Backup Material
Page 53 of 70
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, 808 Martin Luther King Jr., Georgetown, Texas 78626, hereinafter
called "City" and the Georgetown Transportation Enhancement Corporation,
having its principal business address at 808 Martin Luther King Jr., 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 transportation system improvements,
including 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 54 of 70
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, 2021 and terminate
at the close of business on September 30, 2022 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 fee of $20,618 as identified in
Attachment A.
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 $20,618 per month on the first of each month,
begininng on October 1, 2021, 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.
ARTICLE 5
OWNERSHIP OF DOCUMENTS
Page 55 of 70
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
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,
Page 56 of 70
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 may 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.
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:
Page 57 of 70
For City: City Manager
City of Georgetown
P.O. Box 409
Georgetown, Texas 78627
For Corporation: General Manager
Georgetown Transportation Enhancement Corporation
P.O. Box 409
Georgetown, Texas 78627
Page 58 of 70
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 , 2021.
GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION
By:
Printed Name:
Title:
ATTEST:
By:
Printed Name:
Title:
CITY OF GEORGETOWN
By:
Printed Name: Josh Schroeder
Title: Mayor
ATTEST:
By:
Printed Name: Robyn Densmore
Title: City Secretary
APPROVED AS TO FORM:
Printed Name: Skye Masson
Title: City Attorney
Page 59 of 70
Attachment A
The GTEC Administrative Allocation for departments such as
Transportation Administration, City Manager’s Office, Finance and
Accounting, and the Legal Department totals $247,416 for FY2022. This
equates to $20,618 per month.
Page 60 of 70
GTEC
FY2022 Proposed Budget and Administrative ContractPage 61 of 70
FY2022 GTEC Budget and Administrative Contract
GTEC Budget Process
•GTEC -“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
Page 62 of 70
FY2022 GTEC Budget and Administrative Contract
GTEC Budget Process
•GTEC budget developed annually –
•Revenue estimates for upcoming year
•Sales Tax
•Interest
•Expenses for upcoming year of projects from TIP, and roll overs from previous
years
•Debt service –from previously issued debt for projects
•Administrative costs
•Staff, overhead, project management
Page 63 of 70
FY2022 GTEC Budget and Administrative Contract
Revenue
•Sales tax is projected to end FY2021 at $10,187,500
•Exceeds budget due to strong fiscal year
•20% increase over prior year actuals
•FY2022 Sales Tax is projected to be $10,645,938, which is an increase
of 4.5% over FY2021 projections
•Interest revenue is budgeted at $24,000 in FY2022
Page 64 of 70
FY2022 GTEC Budget and Administrative Contract
Revenue
•Bond Proceeds total $5.2 million
•Capella -$1.5 million
•Costco -$2.0 million
•Project Diana -$1.7 million
Page 65 of 70
FY2022 GTEC Budget and Administrative Contract
Expenditures
•Administrative Costs/Overhead -$247,416
•General Fund (City Managers Office, Public Works, Etc.)
•$73,318
•Joint Service Fund (Accounting, Finance Admin, Legal, Etc.)
•$174,098
•38.5% reduction based on updates to allocation methodology
•General Fund –decrease because the Planning Department is no longer allocated out to
other funds
•Joint Service Fund –decrease due to an update to the distribution of Legal Department
workload.
Page 66 of 70
FY2022 GTEC Budget and Administrative Contract
Expenditures
•Transportation Expenditures
•Capella -$1.5 million
•Costco -$2.0 million
•Project Diana -$1.7 million
•Debt Service
•$839,750 for previously issued debt
•$104,750 for new issuance costs and handling fees
•Funding for undetermined projects
•$2.5 million
Page 67 of 70
FY2022 GTEC Budget and Administrative Contract
Conclusion
•Discussion
•Recommendation to Council
Page 68 of 70
`
FY2022 Budget Workshop
GEORGETOWN TRANSPORTATION ENHANCEMENT CORP FUND
The purpose of the Georgetown Transportation Enhancement Corporation Fund (GTEC), a Sales Tax Corporation, is
to promote economic and community development within the City and the State of Texas through the payment of
costs for streets, roads, drainage, and other related transportation system improvements including the payment of
maintenance and operating expenses associated with such authorized projects. The funding source for GTEC is ½
cent of the City’s sales tax rate.
FISCAL YEAR 2021
Total revenues are projected to be $18.3 million, which includes $8.1 million of bond proceeds budgeted for the
Aviation Drive Project. Sales tax collections are projected to end the year at $10.2 million, 20% more than budget.
Sales tax collections remained strong throughout the year due to strong economic growth despite the pandemic.
Total expenses are projected to be $26.6 million. Projects in progress for this year include Aviation Drive, Southeast
Inner Loop, Rabbit Hill Road, and Highway 29.
Total fund balance is projected to be $22.6 million by September 30th 2021, which includes a debt service reserve of
$3.5 million and a contingency reserve of $2 million.
FISCAL YEAR 2022
Budgeted revenues are expected to total $15.9 million, a 4.5% increase over 2021 projections. Bond proceeds are
budgeted at $5.2 million to fund proposed roadway improvements for Capella, Costco, and Project Diana. Interest
revenue is expected to continue to decrease because of low rates..
Budgeted expenses total $12 million. This includes $5.2 million for the capital projects previously mentioned. A
reserve of $2.5 million is appropriated in Operations for economic development projects that may come up during
the fiscal year. GTEC’s total self-supporting debt service payments include $900K in the fund, and $3.2 million of
transfers out to the General Debt service fund. The Joint Services Fund allocation decreased due to an updated
distribution of Legal Department workload. The General Fund allocation decreased because the Planning Department
is no longer allocated out to other funds.
Total fund balance is projected to be $26.4 million by September 30th 2022. This fund is budgeted to meet the policy
of allocating 25% of sales tax as a contingency reserve. This fund also meets a debt service reserve of $3.9 million.
Page 69 of 70
`
FY2022 Budget Workshop
FUND SCHEDULE
GTEC
FY2020 FY2021 FY2022
Actuals
Amended
Budget Projected Base Budget Changes
Proposed
Budget
Beginning Fund Balance 21,649,668 31,029,698 31,029,699 22,698,301 - 22,698,301
Revenue
40002:Sales Taxes 8,491,326 8,255,000 10,187,500 10,645,938 - 10,645,938
42001:Interest Income 272,223 60,000 24,544 24,000 - 24,000
46001:Bond Proceeds 4,740,000 8,000,000 7,405,000 5,200,000 - 5,200,000
46002:Bond Premium - - 731,229 - - -
Revenue Total 13,503,548 16,315,000 18,348,273 15,869,938 - 15,869,938
Expense
Operations 470,487 2,387,337 2,386,565 2,747,716 - 2,747,716
Operating Capital 234,936 - 0 - - -
Capital 135,633 20,476,813 20,476,813 5,200,000 - 5,200,000
Debt Service 879,100 1,053,050 1,053,050 944,500 - 944,500
Transfers 2,403,361 2,763,242 2,763,242 3,232,111 - 3,232,111
Expense Total 4,123,518 26,680,442 26,679,671 12,124,327 - 12,124,327
Ending Fund Balance 31,029,699 20,664,256 22,698,301 26,443,912 - 26,443,912
Reserves
Contingency 1,984,375 1,984,375 1,984,375 2,617,664 - 2,617,664
Debt Service Reserve 3,602,792 3,494,232 3,494,232 3,918,959 - 3,918,959
Reserves Total 5,587,167 5,478,607 5,478,607 6,536,623 - 6,536,623
Available Fund Balance 25,442,532 15,185,649 17,219,694 19,907,289 - 19,907,289
Page 70 of 70