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HomeMy WebLinkAboutAgenda CC 11.26.2019 WorkshopN otice of M eet ing of the Governing B ody of the C ity of Georgetown, Texas N ovember 2 6 , 2 0 1 9 The G e orgetown City Council will meet on November 26, 2019 at 2:30 P M at City Council Chambers, 510 W 9th Street Georgetown, TX 786 26 The City o f Geo rgetown is committed to c ompliance with the Americans with Disabilities Act (AD A). If you re quire assistance in participating at a public meeting due to a disability, as defined under the AD A, re asonable assistance, adaptations, o r acco mmodations will be provide d upon request. P lease contac t the City Secretary's Office, at le ast three (3) days prior to the sche duled meeting date, at (512) 930-36 52 or City Hall at 808 M artin Luthe r King J r. Street, Georgetown, TX 78 62 6 for additional informatio n; TTY users route through Re lay Texas at 711. Policy De ve lopme nt/Re vie w Workshop - A P re sentatio n and discussion regarding the City’s Quarterly Financial Re port, which includes the Inve stment Reports for the City of Ge orgetown, Georgetown Transpo rtation Enhancement Co rporation (GTEC), and the Geo rge to wn Economic Development Co rporation (G ED C O) for the quarter ending September 30, 20 19 -- P aul Diaz, Budget Manager B P re sentatio n and discussion regarding the FY2 019 Year-End Budget Amendment --P aul Diaz, Budget M anager C P re sentatio n and discussion regarding Transpo rtation Impact Fees -- Wesley Wright, P E, Systems Engineering Director Exe cutive Se ssion In compliance with the Open Meetings Ac t, Chapter 5 51, Government Code, Verno n's Texas Codes, Annotated, the items listed below will be disc ussed in closed session and are subject to action in the regular se ssio n. D Sec. 5 51 .07 1: Consul tati on wi th Attorney Advice fro m attorney about pending or co ntemplated litigation and o ther matters on which the attorney has a duty to advise the City Co uncil, including agenda items - P ropo sed P ossession and Use Agre e ment in The City of George to wn , Texas v. Forster & Gile s, a pa rtnership - Cle arway Sec. 5 51 .08 6: Certai n P ubl i c P ow e r Uti l i ti es: Competi ti ve M atters - P urchase P o wer Update Sec. 5 51 .08 7: Del i berati on Reg ar di ng Eco nomi c Devel opment Ne go ti ati ons - P roject Beige Sec. 5 51 :07 4: P ersonnel M atters City Manager, City Attorney, City Se c retary and Municipal J udge: Co nsideratio n of the appointment, employment, evaluatio n, reassignment, duties, discipline, o r dismissal - City Manager Work P lan Review Adjournme nt Page 1 of 142 Ce rtificate of Posting I, R o b yn Dens mo re, C ity S ec retary fo r the C ity of G eorgetown, Texas , d o hereb y certify that this No tic e of Meeting was posted at C ity Hall, 808 Martin Luther King Jr. S treet, G eorgeto wn, T X 78626, a p lace readily ac ces sible to the general pub lic as required by law, on the _____ day of _________________, 2019, at __________, and remained s o posted for at leas t 72 c ontinuous ho urs p receding the s ched uled time o f said meeting. __________________________________ R o byn Dens more, C ity S ecretary Page 2 of 142 City of Georgetown, Texas City Council Workshop N ovember 26, 2019 S UBJEC T: P resentation and discussion regarding the City’s Quarterly Financial Report, whic h includes the Investment Reports fo r the City of Georgetown, Geo rgetown Transportation Enhancement Corporation (G TEC), and the Georgetown Economic Development Co rporation (GE D C O) for the quarte r ending September 30, 2019 -- P aul Diaz, Budget M anager I T E M S UMMARY: The Quarterly Financial Report to Council is attac he d. An executive summary is included to highlight variances in revenues and expe nses from current year budget and pro jectio ns in the major funds. Additio nally, an overview of the investment portfo lio as o f September 30, 2019 is inc luded. The Financial Report also includes schedules for the majo r funds, a summary o f grants, capital projects, and the List o f Lo ng-term Unfunded Liabilities. The Executive Summary of the report includes info rmation o n Electric Fund purchased po wer, and the mitigating ste ps the City has take n to improve the financial conditio n of the fund. These steps include increasing the P ower Cost Adjustment rate to recover revenue, reducing ope rating and capital expenditures in the electric utility, selling utility assets, new Ge ne ral M anager, contracting professio nal services for energy portfolio management and risk oversight. The Electric Fund ending balance for F Y2019 includes $4 millio n for the 90-day contingency reserve, and $2.2 million to begin rebuilding the Rate Stabilization Reserve. There is a budge t amendment on the workshop and le gislative agenda for the Novembe r 26 th meeting to amend Fiscal Year 2019 to re c ognize financial activity in the Fo urth Quarter Report. The investment ac tivity and strategies described in the investment report are in compliance with the City’s Investment P olicy and state law. This report meets the quarterly reporting requirements mandate d by the P ublic Funds Investme nt Act. F I NANC I AL IMPAC T: N/A S UBMI T T ED BY: P aul Diaz, Budge t Manager AT TAC HMENT S : Description 4th Q R eport P resentatio n Page 3 of 142 Vision: A caring community, honoring our past, and innovating for the future. CITY OF GEORGETOWN FISCAL YEAR 2019 BUDGET FOURTH QUARTER REPORT Page 4 of 142 FINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended September 30, 2019 Table of Contents Executive Summary .................................................................................................................................... 1-8 General Fund Schedule ................................................................................................................................. 9 Electric Fund Schedule ................................................................................................................................ 10 Water Services Fund Schedule .................................................................................................................... 11 Joint Services Fund Schedule ....................................................................................................................... 12 Council Discretionary Fund Schedule .......................................................................................................... 13 Convention & Visitors Bureau Fund Schedule ............................................................................................. 14 Airport Fund Schedule ................................................................................................................................. 15 Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 16 Georgetown Economic Development Corporation Fund Schedule ............................................................. 17 Quarterly Investment Report - City ........................................................................................................ 18-46 Quarterly Investment Report - GTEC ...................................................................................................... 47-53 Quarterly Investment Report - GEDCO ................................................................................................... 54-60 Grant Applications ....................................................................................................................................... 61 Capital Improvement Projects ................................................................................................................ 62-63 Long-term Commitments and Other Unfunded Liabilities ..................................................................... 64-66 Page 5 of 142 F FY2019 Quarterly Report EXECUTIVE SUMMARY FOR THE QUARTER ENDED SEPT. 30, 2019 I.QUARTERLY FINANCIAL ANALYSIS Please note this quarterly report includes unaudited figures. Currently, City staff along with our audit partners, are in the process of completing the year-end close out and the Comprehensive Annual Finance Report (CAFR). It is anticipated the CAFR process will be completed within the next few months and all numbers finalized. The numbers presented in this report are unaudited, preliminary, and subject to change. GENERAL FUND REVENUES: General Fund revenues total $71.4 million, or 100.9% of budget. Revenues exceed last year’s annual total by $8 million, or 13%. This is because Emergency Medical Services (EMS) revenue moved into the General Fund in 2019. The sales tax revenue through September totals $16.6 million, or 104.1% of budget. In the Budget process, staff projected sales tax to finish at $16.7 million, a variance from actuals of 0.9%. The core sales tax sectors of retail, food, and information continue to be strong in the fourth quarter. Sales tax revenue accounts for 22% of budgeted revenues. Property tax revenues are typically received mostly in the 2nd quarter and account for about 20% of budgeted revenues. Through the fourth quarter, the City has received $13.8 million or 99.6% of budget, and 99.4% of projection. The City collects franchise fees for electric, natural gas, cable, and non-cellular telephone services. Through the fourth quarter, franchise fee revenues total $5.64 million in FY2019, or 103.9% of budget. Franchise fees represent 8% of budgeted revenues in the fund. In the Budget process, staff projected this segment of revenue would finish at $5.58 million, a variance of 1.03%. Return on Investment (ROI) revenue represents 11% of budgeted revenues in the fund. Through the fourth quarter, ROI revenues total $7.3 million, or 94.7% of budget. During the Budget process, staff projected this segment would finish at $7.2 million, including capping the Electric ROI transfer at $3.8 million. The variance from projection is 1.2%, which is due to slightly higher than projected sales in the Water Fund. Development related revenue continues to be strong. Through the fourth quarter, development related revenue totals $4.15 million or 125.5% of budget. The variance of projection to actuals is $424 thousand, or 11.4%. Contributing factors include a large master - 20 40 60 80 100 120 140 160 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Building Permits 2015 2016 2017 2018 2019 10,000,000 11,000,000 12,000,000 13,000,000 14,000,000 15,000,000 16,000,000 17,000,000 18,000,000 19,000,000 20,000,000 General Fund Sales Tax General Fund Sales Tax FY2017 FY2018 FY2019 1Page 6 of 142 F FY2019 Quarterly Report development fee payment, as well as an increase in residential permits and inspections. The permit graph in this report shows the five-year history of permits by month. Sanitation revenue through the fourth quarter totals $9.1 million or 96.5% of budget. Sanitation revenue accounts for 13% of budgeted revenues in the fund. In the Budget process, staff projected this segment of revenue would finish the year at $9.45 million. The variance of projection to actuals is 3.56%. A portion of this is offset by a savings in sanitation contract expense. Fire and EMS revenue through the quarter totals $7.05 million, or 101.9% of budget. Previously, EMS was budgeted in a separate fund. As part of the FY2019 Budget, the department moved into the General Fund. Fire/EMS revenue is comprised of the Emergency Services District 8 contract for service, EMS transport revenues, as well as public safety grants like the SAFER grant. This segment of revenue accounts for 10% of budgeted revenue in the fund. In the Budget process, staff projected this segment of revenue would finish at $6.88 million. The variance of projection to actuals is 2.52%. Parks and Recreation revenue totals $2.7 million for the year, or 90% of budget. In the Budget process, staff projected Parks and Recreation revenue would end FY2019 at $2.7 million. This is a variance of projection to actuals is 1.5%. Parks and Recreation revenue represents just over 4% of budgeted revenues. The All Other Revenue category includes court fees, animal and library fines, as well as interest. This category is 5% over projections because allocated interest performed better than staff’s conservative estimate. Our performance target is to be within 3% of projections for all major revenue sources. Overall, the City’s General Fund revenues finished the year above budget and within 0.35% of projections. Property Tax and Sales Tax, which combine account for 42% of budgeted revenues, finished the year at 99.2% of projections. GENERAL FUND EXPENSES: Annual expenses through the fourth quarter total $68.8 million, or 97% of budget and 97.4% of projection (this includes all expenses type of personnel, operations, capital, and transfers). Personnel and Operations Summary (excludes capital accounts) Personnel costs through the quarter total $39.9 million, or 100.5% of budget. Operational costs total $27.1 million, or 94.1%. The table above excludes capital accounts (like street repair or transfers out for fleet purchases) and is used to compare the personnel and operations costs year to year. Administration Services Division (Administrative Services, City Council, City Secretary, and General Government Contracts) personnel and operational expenditures for the quarter totals $2.57 million, which represents 97.6% of budget. General Government Contracts includes budgeted vacancy savings estimates for all General Fund departments. Real vacancy savings is realized in each cost center. Year-to-date personnel and operational expenditures for the Community Services (Parks and Rec., Library, and Communications) and Finance Division (Municipal Court) totals $11.83 million or 95.2% of budget. The large savings in Garey Park is due to better expected performance in utilities expenses. There are also salary savings in parks. COMBINDED EXPENSES FY2019 Budget FY2019 YTD Actuals % of FY2019 Budget FY2018 Budget FY2018 YTD Actuals % of FY2018 Budget Personnel Expense 39,760,459 39,946,912 100.5% 36,675,585 36,824,068 100.4% Operations Expense 28,816,156 27,106,371 94.1% 26,653,247 25,884,988 97.1% TOTAL 68,576,615 67,053,283 97.8% 63,328,832 62,709,056 99.0% 2Page 7 of 142 F FY2019 Quarterly Report Personnel and Operations Summary (excludes capital accounts) Year-to-date personnel and operational expenditures for the Development & Planning Division totals $2.6 million through the quarter or 86.2% of budget. Operational expenses total only 57.7% year-to-date. The savings is due to fewer than anticipated transportation impact analyses (TIA) and reduced annexation planning services after the legislative session. These two savings total $170,000 and was incorporated in the FY2020 Budget development discussions. The Public Works Division (Environmental Services, Public Works, and Streets) personnel and operational expenditures through the quarter totals $11.5 million or 94.7% of budget. The savings in Public Works is related to vacancy savings, and lower than expected expenditures in street maintenance. Year-to-date personnel and operational expenditures for Fire through the quarter total $18 million or 96.5% of budget. Staff was very conservative with mid-year projections for Fire since overtime has been skewed to summer months for vacations in the past. The $600K of savings is due to a combination of salary savings in support services, FY2019 Budget FY2019 Actuals % of FY2019 Budget FY2018 Budget FY2018 Actuals % of FY2018 Budget Expenditure Administrative Services Personnel Expense 1,967,951 2,002,556 101.8% 1,900,756 1,869,331 98.3% Operations Expense 671,827 573,246 85.3% 712,883 602,235 84.5% Administrative Services Total 2,639,778 2,575,802 97.6% 2,613,639 2,471,566 94.6% Community Services and Finance Personnel Expense 7,146,124 6,983,468 97.7% 6,730,047 6,440,178 95.7% Operations Expense 5,288,877 4,854,380 91.8% 4,910,503 4,738,082 96.5% Community Services and Finance Total 12,435,001 11,837,848 95.2% 11,640,550 11,178,260 96.0% Development & Planning Personnel Expense 2,308,625 2,194,687 95.1% 2,164,868 2,032,490 93.9% Operations Expense 714,668 412,273 57.7% 731,484 738,174 100.9% Development & Planning Total 3,023,293 2,606,961 86.2% 2,896,352 2,770,664 95.7% Fire Services* Personnel Expense 15,104,380 14,516,204 96.1% 12,686,454 12,724,663 100.3% Operations Expense 3,632,363 3,572,437 98.4% 3,430,316 3,206,249 93.5% Fire Services Total 18,736,742 18,088,642 96.5% 16,116,770 15,930,912 98.8% General Gov't Contracts Personnel Expense (1,145,000) - 0.0% (750,000) - 0.0% Operations Expense 4,575,401 4,384,232 95.8% 4,003,786 4,015,619 100.3% General Gov't Contracts Total 3,430,401 4,384,232 127.8% 3,253,786 4,015,619 123.4% Public Works Personnel Expense 1,875,598 1,739,166 92.7% 1,860,648 1,618,211 87.0% Operations Expense 10,275,620 9,772,322 95.1% 9,414,929 9,189,348 97.6% Public Works Total 12,151,218 11,511,487 94.7% 11,275,577 10,807,559 95.8% Police Services Personnel Expense 12,502,781 12,510,831 100.1% 12,082,813 12,139,194 100.5% Operations Expense 3,657,400 3,537,481 96.7% 3,449,346 3,395,282 98.4% Police Services Total 16,160,181 16,048,312 99.3% 15,532,159 15,534,476 100.0% Expense Total 68,576,615 67,053,283 97.8% 63,328,832 62,709,056 99.0% 3Page 8 of 142 F FY2019 Quarterly Report and overtime savings in operations. The department experienced a higher fill rate of positions, which positively impacted overtime. Year-to-date personnel and operational expenditures for Police through the quarter totals $16 million or 99.3% of budget. In the Budget process, the Police division was identified as the only division in the General Fund as possibly needing a Year-End Budget Amendment for overtime. Due to savings in Police equipment, Animal Services, and Code Enforcement, a year end amendment will not be needed for the division. Overall, General Fund expenditures are within budget and the fund can cover the 90-day Contingency Reserve and the Benefit Payout Reserve. Every division finishes FY2019 at or below budget. UTILITY FUNDS: Electric Fund: The City has used multiple strategies in FY2019 to improve the performance of the Electric Fund in relation to past and current expenditures for purchased power contracts. These strategies include increasing the Power Cost Adjustment rate to recover revenue, reducing operating and capital expenditures in the electric utility, selling utility assets, hiring a new General Manager, contracting professional services for energy portfolio management and risk oversight. The total annual operating revenue in the Electric Fund totals $85.7 million through the fourth quarter, or 101% of budget, and 0.3% variance from projection. Electric revenue sales, the largest component of operating revenue, totals $80.2 million. The Power Cost Adjustment (PCA) was increased in February and June. Other operating revenues, which is comprised of the metering allocation, developer contributions, and other components, totals $5.3 million through the quarter. Total annual operating expenses in the Electric Fund total $78.4 million through the quarter. Purchase power expenses total $58.5 million, while congestion revenue rights (CRRs) credits total -$2.8 million. Net purchase power totals $55.6 million, which is $5.5 million higher than budgeted or 10.8%. The primary factors are transmission congestion and curtailment, late summer price spikes in the market, and a change to accruals for purchase power invoices. In addition to the PCA increase mentioned above, staff recommends the following adjustments to mitigate purchased power costs as part of the year-end budget amendment. The year-to-date column of the fund schedule presented in this report is reflective of these proposed amendments. Staff has not adjusted the budget column because at the time of this report Council has not acted on the proposed amendment. First, the amendment recognizes $1.2 million in revenue from sale of energy to customers and charges to customers. Second, staff proposes to sell land owned by the Electric fund to the Fleet Fund. This land will be the future site of the new Fleet Service Center envisioned in the facilities assessment. This amount totals $481,927 and is shown in the fund schedule under “Sale of Assets” in non-operating revenue. Third, the Water Fund will purchase the Electric Fund’s portion of the Westside Service Center (WSSC), as well as repay the debt service payments made for the facility in the past. The center is primarily used to serve the large western water customer area. In FY2020, some electric personnel will move from the center to the Georgetown Municipal Complex (GMC), and water staff at the GMC will relocate to the WSSC. The purchase of Electric’s share of the building totals $356,894. This shown in non-operating revenue under “Sale of Assets”. The previously paid debt service principal and interest totaled $470,000 and $305,234 respectively (net of handling fees $1,275 on the schedule under debt service and interest expense). Additionally, staff proposes to reclass the remaining liability of 4Page 9 of 142 FY2019 Quarterly ReportF 2013 Certificate of Obligation Bonds for the Westside Service Center totaling $1.56 million from Electric to Water. This is shown in the fund schedule as a transfer in under non-operating revenue. Fourth, staff proposes selling a portion of the fiber network owned by Electric to the Information Technology Fund. The Electric Fund installed and operates the network that is used by departments across the City. This transaction will purchase all the fiber infrastructure installed from 2003 to 2011 at a cost of $645,044. In FY 2020, staff will develop a multi-year plan for the IT Fund to buy the remainder of the fiber assets, and allocate operation and maintenance costs to all using funds. Finally, other amendments include: The South Georgetown Tax Increment Reinvestment Zone Fund will reimburse $633K of infrastructure investments made by the Electric Fund. This is shown as a transfer in under non-operating revenue. Other changes under non-operating revenue include the sale of Renewable Energy Credits for $722K, and refunding the $100K Bloomberg Grant revenue after Council action to not move forward with the grant. Operating expenditures are reduced throughout the utility, including reallocating the cost of conservation programs that primarily benefit water use to the Water Fund. Return on Investment transfer to the General Fund was also reduced an additional $500K. Capital expenditures are also reduced. Pending the approval of the year-end budget amendment, it is anticipated the fund will finish the year with an ending fund balance of $6.3 million. This balance covers the 90-day operating contingency reserve and begins to recover the rate stabilization reserve. Water Fund: Overall water operating revenue totals $67.8 million, or 113.5% of budget. The City experienced higher than projected water sales in the fiscal year. This fact also has a positive impact on ROI and Franchise Fees in the General Fund. Capital Recovery Fees finished FY2019 higher than budget and higher than projected. Over the last three fiscal years, the City has seen strong growth in this revenue stream. There were no non-operating revenues in the water fund in FY2019 while staff worked on existing multi-year debt and cash funded projects. Water operating expenses total $37 million, or 99% of budget. The fund experienced some operational savings in utilities, legal services, and contracts. Non-operating expenses total $37.4 million. The Capital Improvement budget in the Water Fund totals $85.6 million. Staff will be bringing forward a CIP rollforward amendment in December to move funds unspent in FY2019 into the FY2020 Budget for multi-year projects such as the Berry Creek Interceptor and Lake Water Treatment Plant. The debt service actuals for FY2019 exceed budget due to the reimbursement of debt principal and interest payment made by Electric for the Westside Service Center. The year-end budget amendment includes corresponding amendments to the Water Fund as described for Electric. Ending available fund balance of $47.5 million is $15 million higher than projected. However, this balance is used to cash fund 50% of water capital projects next year. OTHER MAJOR FUNDS: Convention & Visitors Bureau Fund: Overall revenue in the fund totals 1.6 million, or 103.8% of budget. Hotel Occupancy Tax revenue totals $1.4 million through the quarter, or 103.2% of budget and 94% of projection. Year to date expenses in the Convention & Visitors Bureau Fund total $1.3 million, or 98.6% of budget and 99% of projection. The fund finished FY2019 with a fund balance of $1.5 million and meets the 90-day operational reserve. 5Page 10 of 142 F FY2019 Quarterly Report Airport Fund: Airport operating revenue totals $3.4 million, which represents 88.2% of budget, and 92% of projections. Fuel Sales are less than Budget. The margin on fuel is fixed. With the depressed price on fuel, the City is selling gas at a lesser rate than budgeted. However, the cost of the fuel is also below the budgeted amount. Operation expenses in the Airport fund total $3 million, or 86% of budget and 93% of projections. Non-operating expenses total $717,491. Staff will be bringing forward a CIP rollforward amendment in December to move capital funds unspent in FY2019 into the FY2020 Budget. Overall, the fund has positive cash flow and can meet its debt service and contingency requirements, with an available ending fund balance of $1.2 million. II. INVESTMENTS The investment activity and strategies described in this report comply with the Public Funds Investment Act (PFIA), the City’s investment policy, and generally accepted accounting principles. Activity for the fourth quarter of fiscal year 2019 includes the maturing of financial institution deposits (CDs), reinvestment of CD’s, and investing of bond proceeds in CD’s and Treasury Bills. Interest rates for money market accounts, Treasury bills, and CD’s decreased during this quarter. We have begun to see a decline in rates being submitted to competitive investment offerings due to changes in the market. The Federal Open Market Committee (FOMC) lowered the Federal Funds rate on September 18 by another 25 basis-points (new range 1.75%-2.00%). The City will continue soliciting for the best rates to improve both diversity and yield, while keeping in mind safety and liquidity. This quarter the portfolio balances decreased due to General Obligation, Certificate of Obligation, and Utility Revenue bond principle and interest payments that were made in August. The Investment Reports for the quarter ending September 30, 2019, and the supporting schedules are attached. Valley View Consulting, L.L.C., has prepared the attached investment reports. A component of our investment advisory services contract includes Valley View preparing the quarterly investment reports on behalf of the City. A summary of the investment balances at September 30, 2019, compared to the prior quarter, is shown below for the City, as well as Georgetown Transportation Enhancement Corporation (GTEC) and Georgetown Economic Development Corporation (GEDCO). The table presents book values. Market value of the Treasury securities is shown in the attached detailed report. CITY GTEC GEDCO 6/30/19 9/30/19 6/30/19 9/30/19 6/30/19 9/30/19 Total cash and investments $204,976,917 $178,882,868 $21,345,649 $20,551,884 $7,950,908 $8,248,890 Average Yield 2.50% 2.29% 2.50% 2.31% 2.43% 2.15% The City’s strategy continues to be matching maturities with cash flow needs, while focusing on the investment policy’s long-range goals. The City’s investment strategy is to “ladder” or stagger maturities, thus minimizing erratic interest rate fluctuations. The City is continuing to manage the yield on bond proceeds for arbitrage purposes. City portfolio balances have increased in the last few years due to the increase in contingency reserves, interest rate increases, and debt proceeds issued for future capital improvement projects. The City’s investment portfolio includes bank deposits, local government investment pool balances, money market accounts, financial institution deposits (CD’s), and Treasury Bills. All these investments carry insurance or an implied backing from the Federal Government. The collateral on all City investments are monitored monthly to ensure the financial institutions carry minimum collateral of 100% with a letter of credit or 102% with pledged securities for all of the City’s investments. All securities 6Page 11 of 142 F FY2019 Quarterly Report held by financial institutions as collateral on behalf of the City have been reviewed and met PFIA-minimum rating criteria. The City has worked closely with the City’s depository bank (JPMorgan Chase) to find an average daily balance that is best to receive the highest yield on the account. These balances earn credit against the fees charged by the bank. As of March, the City is receiving the alternative premium rate of 1.25% for our Earnings Credit Rate (ECR). The City will continue to verify depository yield versus investment yield to achieve the best outcome. The City's investment program is conducted to accomplish the objectives of safety, liquidity, public trust, and yield. Each aspect is considered when making decisions regarding investments. III. CAPITAL PROJECTS The projects in the Capital Improvement Program (CIP) consist of infrastructure and related construction and do not include small capital items such as furniture, equipment, and vehicle maintenance. Maintenance-type projects are not capitalized as a fixed asset and are usually cash funded. Therefore, these projects are operational in nature and are in the departmental operating budget. A year-to-date budget status for each of the approved projects is included in the quarterly report. FIRE STATIONS 6 & 7 Fire Station No. 6: Both concrete blocks and wood framing are complete. Final site grading has begun in anticipation of site paving beginning soon. Structural steel and roof decking are complete. Interior rough-in for Electrical, Plumbing and air conditioning have begun. Fire Station No. 7: Concrete construction and wood framing are complete. Structural steel and roof decking are complete. Site Paving is complete, with the exception of sidewalks. Interior rough-in for Electrical, Plumbing and air conditioning have begun. COMMUNITY SERVICES Construction on several sidewalk improvement projects throughout the city began in May 2017. This was the first round of sidewalk improvement projects identified in the adopted Sidewalk Master Plan and was funded in part by a road bond approved by voters in May 2015. Work on the initial designed portion is complete and the next downtown sidewalk project is currently being designed. Old Town North East Sidewalks: Contractor has begun installing sidewalk throughout the project. Sidewalk is installed along 7th from Maple towards the I.O.O.F cemetery. Currently working to install sidewalk along 7th from Myrtle to Elm and on College from 6th to 8th street. Estimated completion is end of March 2020. Austin Ave. Sidewalks (Hwy. 29 to Leander Rd): Contractor has a few minor punch list items to complete. Project should be closed out by the end of November 2019. WATER The Berry Creek Interceptor phase 4, 5, and 6 will be approximately 15,000 linear feet of 36-inch wastewater from the existing lift station at Sun City to the Berry Creek lift station. Construction started January 28, 2019 and is scheduled for completion in January 2020. 7Page 12 of 142 F FY2019 Quarterly Report The Pecan Branch Wastewater Treatment Plant expansion takes the existing plant from 1.5 million gallons to 3 million gallons of treatment capacity. The Pecan Branch wastewater treatment plant construction started in July 2017 and was completed in August 2019. Only minor punch-list items remain. The Shell Road and CR 255 water main designs are complete and easement acquisitions are in progress. Construction of Shell Road Waterline Improvements is estimated to start in February 2021. CR 255 has been on hold. The Reagan 30-inch waterline was moved up in priority and was completed in June of 2019. 8Page 13 of 142 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 10,917,971 10,946,800 10,946,800 - - Revenue Administrative Charges 2,428,000 202,333 2,428,000 2,428,000 - - All Other Revenue 2,430,500 163,657 2,294,810 2,183,832 110,978 5.08% Development and Permit Fees 3,307,000 584,658 4,151,850 3,726,935 424,915 11.40% Franchise Fees 5,434,000 1,469,942 5,646,479 5,589,123 57,356 1.03% Parks and Rec Fees 2,960,100 192,226 2,668,469 2,708,167 (39,698) -1.47% Property Tax 13,850,000 (7,060) 13,800,380 13,880,000 (79,620) -0.57% ROI 7,777,490 2,114,771 7,364,577 7,277,490 87,087 1.20% Sales Tax 15,924,475 4,117,811 16,581,705 16,734,375 (152,670) -0.91% Sanitation Revenue 9,448,500 648,982 9,116,394 9,452,750 (336,356) -3.56% Fire/EMS Revenue 6,926,266 695,640 7,059,204 6,885,370 173,834 2.52% Transfer In 321,782 88,750 321,783 321,783 - - Revenue Total 70,808,113 10,271,710 71,433,651 71,187,825 245,826 0.35% Expense Administrative Services 1,571,103 153,897 1,605,930 1,571,084 (34,846) -2.22% Animal Services 926,122 91,148 871,897 888,693 16,796 1.89% Arts & Culture 37,545 4,444 39,077 37,545 (1,532) -4.08% City Council 171,395 12,517 168,069 169,595 1,526 0.90% City Secretary 897,280 104,525 801,804 844,379 42,575 5.04% Code Enforcement 432,800 42,385 387,844 419,061 31,217 7.45% Communications 425,160 34,110 399,754 409,718 9,964 2.43% Environmental Services 7,902,414 1,402,531 7,740,074 7,901,514 161,440 2.04% Fire Emergency Services 13,181,569 1,369,109 12,859,582 13,177,738 318,156 2.41% Fire Support Services 3,000,589 297,663 2,892,457 2,973,649 81,192 2.73% Fire EMS 2,593,697 250,939 2,376,764 2,584,430 207,666 8.04% Garey Park 948,290 96,529 760,203 842,399 82,196 9.76% General Gov't Contracts 3,430,401 292,430 4,365,305 3,964,796 (400,509) -10.10% Inspections 1,277,145 120,509 1,237,826 1,249,703 11,877 0.95% Library 2,696,579 238,558 2,688,859 2,683,051 (5,808) -0.22% Municipal Court 635,935 51,169 634,728 634,168 (560) -0.09% Parks 2,799,674 270,489 2,605,753 2,691,034 85,281 3.17% Parks Admin 615,051 54,178 600,757 613,715 12,958 2.11% Planning 1,746,148 167,838 1,369,134 1,507,294 138,160 9.17% Police Admin 2,355,161 206,855 2,391,132 2,387,527 (3,605) -0.15% Police Operations 12,450,598 1,094,182 12,397,439 12,575,343 177,904 1.41% Public Works 1,296,263 138,943 1,050,822 1,196,755 145,933 12.19% Rec Programs 1,358,009 99,158 1,246,310 1,310,665 64,355 4.91% Recreation 2,650,888 221,179 2,639,488 2,650,686 11,198 0.42% Streets 4,688,211 330,695 3,942,701 4,463,819 521,118 11.67% Tennis Center 463,162 42,318 411,338 449,365 38,027 8.46% Transfer Out 361,000 - 361,000 446,000 85,000 19.06% Expense Total 70,912,190 7,188,299 68,846,048 70,643,726 1,797,678 2.54% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (104,077) 3,083,411 2,587,603 544,099 2,043,504 375.58% ENDING FUND BALANCE 10,813,894 13,534,403 11,490,899 2,043,504 17.78% RESERVES Contingency Reserve 9,977,771 9,977,771 9,977,771 Benefit Payout Reserve 255,000 255,000 255,000 Reserve Total 10,232,771 10,232,771 10,232,771 AVAILABLE FUND BALANCE 581,123 3,301,632 1,258,128 2,043,504 162.42% Preliminary Actuals to Year-End Projection: Sept FY 2019 General Fund 9 Page 14 of 142  APRROVED  BUDGET   CURRENT PERIOD   YEAR TO DATE  (W/ENCUMB)   YEAR‐END  PROJECTION   YEAR‐END  VARIANCE  FAV(UNFAV)  % YEAR‐END  VARIANCE  FAV(UNFAV) BEGINNING FUND BALANCE 2,103,922                2,103,922                2,103,922                ‐                             0.00% Operating Revenue Electric Revenue 79,100,000              9,368,227                80,255,956              80,100,000              155,956                    0.19% Interest 38,000                      2,968                         78,214                      78,214                      ‐                             ‐                              Other Revenue 5,233,546                827,032                    5,343,637                5,216,177                127,460                    2.44%  Transfer In 95,787                      ‐                             ‐                             ‐                             ‐                             NA Operating Revenue Total 84,467,333              10,198,227              85,677,807              85,394,391              283,416                   0.33% Operating Expenditures CRR Credits (3,000,000)               (532,188)                  (2,821,759)               (2,821,759)               ‐                             ‐                              Georgetown Utility Systems 19,337,779              1,870,561                18,897,528              19,347,922              450,394                    2.33% Purchased Power 53,185,477              11,879,286              58,465,559              58,465,559              ‐                             ‐                              Transfers Out ‐ROI 4,325,000                153,497                    3,825,000                3,825,000                ‐                             ‐                              Operating Expenditures Total 73,848,256              13,371,156              78,366,328              78,816,722              450,394                   0.57% Total Net Operations 10,619,077              (3,172,929)               7,311,479                6,577,669                733,810                   11.16% Non‐Operating Revenue   Renewable Energy Credits ‐                             722,381                    722,381                    722,381                    ‐                             ‐                                Grant Revenue 100,000                    ‐                             ‐                             ‐                             ‐                            NA Transfers In 548,104                    2,196,009                2,196,009                2,196,009                ‐                             ‐                              Sale of Assets 10,000                      1,483,867                1,504,207                859,162                    645,045                    75.08% Non‐Operating Revenue Total 658,104                   4,402,257                4,422,597                3,777,552                645,045                   17.08% Non‐Operating Expenditures CIP 4,017,007                744,586                    3,857,165                3,872,055                14,890                      0.38% Interest Expense 1,386,781                (305,234)                  1,081,547                1,081,547                ‐                             ‐                              Debt Service 3,035,374                (468,725)                  2,565,874                2,565,874                ‐                             ‐                              Non‐Operating Expenditures Total 8,439,162                (29,373)                    7,504,586                7,519,476                14,890                      0.20% Total Net Non‐Operations (7,781,058)               4,431,630                (3,081,989)               (3,741,924)               659,935                   17.64% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 2,838,019                1,258,702                4,229,490                2,835,745                1,393,745                49.15% ENDING FUND BALANCE 4,941,941                6,333,412                4,939,667                1,393,745                28.22% RESERVES Contingency 4,082,999                4,082,999                4,082,999                 Rate Stabilization Reserve 147,079                    2,250,413                856,668                     Reserves Total 4,230,078                6,333,412                4,939,667                 AVAILABLE FUND BALANCE 711,863                   0                                0                                ‐                             ‐                              Electric Fund Preliminary Actuals to Year‐End Projection: Sep FY2019 10Page 15 of 142 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) % YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 89,159,703 89,128,534 89,128,534 - 0.00% Operating Revenue Capital Recovery Fee 14,250,000 1,163,198 15,803,197 15,139,255 663,942 4.39% Interest 569,400 160,456 2,080,718 1,482,998 597,720 40.30% Irrigation Utility Revenue 301,557 89,338 302,818 301,578 1,241 0.41% Other Revenue 2,262,146 321,202 5,316,144 3,546,274 1,769,870 49.91% Raw Water Revenue 140,000 132,603 353,873 140,000 213,873 152.77% Transfer In, Debt 103,725 103,725 103,725 103,725 - 0.00% Wastewater Utility Revenue 12,975,345 (40,868)12,026,638 13,015,186 (988,548)-7.60% Water Utility Revenue 29,116,931 5,547,482 31,890,934 29,350,000 2,540,934 8.66% Operating Revenue Total 59,719,104 7,477,137 67,878,047 63,079,016 4,799,031 7.61% Operating Expenditures Irrigation 270,324 21,318 167,875 270,000 102,125 37.82% Transfer Out, Fleet/Joint Service 245,000 - 245,000 245,000 - 0.00% Transfer Out, General 275,000 68,750 275,000 275,000 - 0.00% Transfer Out, ROI 3,200,000 1,842,036 3,286,284 3,200,000 (86,284)-2.70% Transfer Out, Utilities 95,787 - - - - N/A Wastewater Distribution 904,415 206,395 713,376 795,050 81,674 10.27% Wastewater Plant Management 2,705,069 345,293 2,843,610 2,687,676 (155,934)-5.80% Water Administration 19,923,733 3,272,624 20,251,416 20,981,179 729,763 3.48% Water Distribution 2,707,265 550,231 2,450,121 2,598,600 148,479 5.71% Water Operations 4,157,528 384,377 4,241,261 4,252,288 11,027 0.26% Water Plant Management 2,948,733 399,701 2,588,735 2,909,309 320,573 11.02% Operating Expenditures Total 37,432,854 7,090,725 37,062,678 38,214,102 1,151,424 3.01% Total Net Operations 22,286,250 386,412 30,815,368 24,864,914 5,950,455 23.93% Non-Operating Revenue Bond Proceeds - - - - - N/A Non-Operating Revenue Total Non-Operating Expenditures Transfer Out - 1,562,500 1,562,500 - (1,562,500) N/A CIP 90 85,667,940 2,247,266 28,783,245 40,226,858 11,443,613 28.45% CIP 91 - - 62,218 - (62,218)N/A Debt Service 6,250,111 777,759 7,024,771 6,250,111 (774,660)-12.39% Non-Operating Expenditures Total 91,918,051 4,587,524 37,432,734 46,476,969 9,044,236 19.46% Total Net Non-Operations (91,918,051) (4,587,524) (37,432,734) (46,476,969) 9,044,236 19.46% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (69,631,801) (4,201,112) (6,617,365) (21,612,055) 14,994,690 69.38% ENDING FUND BALANCE 19,527,902 82,511,169 67,516,479 14,994,690 22.21% Reserves Reserved Bond Proceeds 18,000,000 18,000,000 90 Day Operational Contingency 7,498,183 7,498,183 7,498,183 Non-Operational Contingency 9,500,000 9,500,000 9,500,000 Reserves Total 16,998,183 34,998,183 34,998,183 AVAILABLE FUND BALANCE 2,529,719 47,512,986 32,518,296 14,994,690 46.11% Water Fund Preliminary Actuals to Year-End Projection: Sep FY2019 11 Page 16 of 142 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 1,469,434 1,469,434 1,469,434 - - Revenue Gedco Admin/Contract Fee 238,622 19,885 238,622 238,622 - - Gtec Admin/Contract Fee 172,318 14,360 172,318 172,318 - - Interest 17,503 3,066 21,881 25,000 (3,119) -12.48% Other 136,153 17,749 166,918 213,412 (46,494) -21.79% Service Fees - Airport 128,966 10,747 128,966 128,966 - - Service Fees - Electric 4,615,524 82,983 4,313,880 4,313,880 - - Service Fees - General 3,573,156 109,236 3,384,629 3,384,629 - - Service Fees - Stormwater 1,020,427 47,330 982,721 982,721 - - Service Fees - Water 7,966,284 1,191,735 8,494,162 8,494,162 - - VPID Admin/Contract Fee 15,924 1,327 15,924 15,924 - - Revenue Total 17,884,877 1,498,418 17,920,021 17,969,634 (49,613) -0.28% Expense Accounting 1,067,433 121,975 1,042,590 1,044,212 1,622 0.16% BIP 150,085 15,915 132,497 127,117 (5,380) -4.23% City Wide Hr 415,500 64,843 335,868 382,500 46,632 12.19% Conservation 766,699 77,230 645,400 704,374 58,974 8.37% Customer Care 4,701,266 407,970 4,665,988 4,696,447 30,459 0.65% Economic Development 635,768 52,314 575,053 609,899 34,846 5.71% Engineering 2,430,052 233,283 2,257,510 2,258,637 1,127 0.05% Engineering Support 1,147,160 98,543 1,102,642 1,131,488 28,846 2.55% Finance Administration 975,583 134,370 957,379 960,951 3,573 0.37% Gus Administration 1,476,541 122,981 1,419,084 1,490,841 71,757 4.81% Human Resources 1,003,190 105,905 983,696 991,779 8,083 0.81% In-House Legal 1,038,782 158,884 1,067,373 1,031,103 (36,270) -3.52% Insurance & Legal 752,000 10,095 658,146 727,249 69,103 9.50% Joint Svcs Con 598,775 436,611 1,250,595 960,000 (290,595) -30.27% Purchasing 811,459 153,987 763,425 770,628 7,203 0.93% Transfer Out 157,000 100,000 157,000 157,000 - - Expense Total 18,127,293 2,294,908 18,014,245 18,044,225 29,980 0.17% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (242,416) (796,489) (94,224) (74,591) (19,633)-26.32% ENDING FUND BALANCE 1,227,018 1,375,210 1,394,843 (19,633) -1.41% RESERVES Contingency 1,227,018 1,227,018 1,227,018 Reserves Total 1,227,018 1,227,018 1,227,018 AVAILABLE FUND BALANCE - 148,192 167,825 (19,633) -11.70% Joint Services Fund Preliminary Actuals to Year-End Projection: Sep FY2019 12 Page 17 of 142 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 131,914 131,915 131,915 - 0.00% Revenue Interest 10,000 227 2,468 2,500 (32) -1.27% Transfer In, General Fund - - - - - - Revenue Total 10,000 227 2,468 2,500 (32) -1.27% Expense Transfer Out, GCP - - - - - - Transfer Out, General Fund 25,000 20,000 25,000 25,000 - - Transfer Out, Joint Services - - - - - - Expense Total 25,000 20,000 25,000 25,000 - - EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (15,000) (19,773) (22,532) (22,500) (32) 0.14% ENDING FUND BALANCE 116,914 109,383 109,415 (32) -0.03% Preliminary Actuals to Year-End Projection: Sep FY2019 Council Discretionary Fund 13 Page 18 of 142 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) %YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 1,170,801 1,301,054 1,301,054 - - Revenue Hotel/Motel Occupancy Tax Revenues 1,350,000 119,749 1,393,228 1,300,000 93,228 7.17% Interest 5,000 2,593 23,784 18,000 5,784 32.14% Other 23,500 929 20,847 18,500 2,347 12.69% Poppy Festival 136,150 749 134,883 144,283 (9,400) -6.52% Revenue Total 1,514,650 124,020 1,572,742 1,480,783 91,959 6.21% Expense Operations 713,831 69,990 689,559 703,729 14,170 2.01% Personnel 369,492 32,487 378,505 371,704 (6,801) -1.83% Poppy Festival 165,200 - 161,522 165,200 3,678 2.23% Transfer to Facilities 49,507 4,126 49,507 49,507 - - Transfer to Fleet 5,048 421 5,048 5,048 - - Transfer to General Fund 21,783 - 21,783 21,783 - - Transfer to Information Technology 27,722 2,310 27,722 27,722 - - Expense Total 1,352,583 109,334 1,333,645 1,344,693 11,048 0.82% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 162,067 14,686 239,097 136,090 103,007 75.69% ENDING FUND BALANCE 1,332,868 1,540,151 1,437,144 103,007 7.17% RESERVES Contingency 271,189 271,189 271,189 Reserved for Capital 1,061,680 1,061,680 1,061,680 Reserves Total 1,332,869 1,332,869 1,332,869 AVAILABLE FUND BALANCE (1) 207,282 104,275 103,007 98.78% Preliminary Actuals to Year-End Projection: Sep FY2019 Convention & Visitors Bureau Fund 14 Page 19 of 142    APPROVED  BUDGET   CURRENT PERIOD   YEAR YO DATE  (W/ENCUMB)   YEAR‐END  PROJECTION   YEAR‐END  VARIANCE   FAV(UNFAV)    % YEAR‐END  VARIANCE  FAV(UNFAV)  BEGINNING FUND BALANCE 1,298,256                1,298,256                1,298,256                ‐                             ‐                              Operating Revenue Fuel and Terminal Sales 2,907,450                214,113                    2,446,977                2,751,500                (304,523)                  ‐11.07% Interest and Other 80,260                      35,551                      84,372                      86,000                      (1,628)                        ‐1.89% Leases and Rentals 863,952                    73,083                      865,655                    859,940                    5,715                         0.66% Operating Revenue Total 3,851,662                322,747                   3,397,004                3,697,440                (300,436)                  ‐8.13% Operating Expenditures Operations‐Fuel 2,389,550                186,185                    1,934,792                2,200,000                265,208                    12.05% Operations‐Non Fuel 743,171                    80,664                      737,735                    726,748                    (10,987)                     ‐1.51% Personnel 417,348                    52,860                      381,938                    371,525                    (10,413)                     ‐2.80% Operating Expenditures Total 3,550,069                319,709                   3,054,464                3,298,273                243,809                   7.39% TOTAL NET OPERATIONS 301,593                   3,037                         342,539                   399,167                   (56,627)                    ‐14.19% Non‐Operating Revenue Bond Proceeds 465,000                    ‐                             472,813                    465,000                    7,813                         1.68% Grants 40,000                      ‐                             55,870                      40,000                      15,870                      39.68% Non‐Operating Revenue Total 505,000                   ‐                             528,683                   505,000                   23,683                      4.69% Non‐Operating Expenditures Airport Master Plan ‐                             ‐                             5,870                         ‐                             (5,870)                        ‐                             Debt Service 147,975                    27                              139,886                    147,975                    8,089                         5.47% Edge Lighting 150,000                    (128,760)                  ‐                             150,000                    150,000                    100.00% Hangar Upgrades 75,000                      12,331                      75,000                      75,000                      ‐                             0.00% Pavement Upgrades 15,000                      ‐                             (10,744)                     15,000                      25,744                      171.63% Runway Rehab 516,500                    475,677                    475,677                    516,500                    40,823                      7.90% Wildfire Management 35,000                      7,200                         31,801                      35,000                      3,199                         9.14% Non‐Operating Expenditure Total 939,475                   366,475                   717,491                   939,475                   221,984                   23.63% TOTAL NET NON‐OPERATIONS (434,475)                  (366,475)                  (188,807)                  (434,475)                  245,668                   56.54% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL  REQUIREMENTS (132,882)                  (363,439)                  153,732                   (35,308)                    189,040                   535.40% ENDING FUND BALANCE 1,165,374                1,451,988                1,262,948                189,040                   14.97% RESERVES Contingency 264,442                    264,442                    264,442                     Reserves Total 264,442                   264,442                   264,442                    AVAILABLE FUND BALANCE 900,932                   1,187,546                998,506                   189,040                   18.93% Airport Operations Fund Preliminary Actuals to Year‐End Projection: Sep FY2019 15Page 20 of 142 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) % YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 18,539,789 18,539,789 18,539,789 - - Operating Revenue Sales Tax 7,073,100 1,830,139 7,369,645 7,437,500 (67,855) -0.91% Interest 190,000 26,909 480,236 308,317 171,919 55.76% Operating Revenue Total 7,263,100 1,857,048 7,849,881 7,745,817 104,064 1.34% Operating Expenditure Administrative Support 391,697 32,575 391,018 391,197 (179) -0.05% Operating Expenditure Total 391,697 32,575 391,018 391,197 (179) -0.05% TOTAL NET OPERATIONS 6,871,403 1,824,473 7,458,863 7,354,620 103,885 1.41% Non-Operating Expenditure Pecan Center Dr to Airport Rd (FY15)2,445,036 - (331) 386,000 386,331 100.09% Arterial SE1: Inner Loop/SH130 - - - - - - Rivery TIA Improvements 359,496 4,140 299,630 359,496 59,866 16.65% FM 971 / Fontana 63,102 23,396 14,767 63,102 48,335 76.60% Rivery-Extension Williams Dr to NW Blvd (FY16)730,635 797 475,883 730,635 254,752 34.87% IH 35 / HWY29 Intersection 606,653 141 160,825 606,648 445,823 73.49% NB Frontage 2338 to Lakeway 51,631 - 18,705 51,631 32,926 63.77% SW Bypass 2243 to IH35 128,144 - - 13,071 13,071 100.00% FM1460 Widening 500,783 - 60 500,784 500,724 99.99% Wolf Ranch Pkwy Extension 283,350 - - 11,000 11,000 100.00% Mays St 4,500,000 - 67,395 1,000,000 932,605 93.26% Available for Projects TBD 1,716,644 - - 1,716,644 1,716,644 100.00% SE Inner Loop Widening (Rock Ride ROW)900,000 - 948,251 948,251 - - Debt Service 3,324,747 603 3,327,340 3,324,747 (2,593) -0.08% Non-Operating Expenditure Total 15,610,221 29,077 5,312,525 9,712,009 4,399,484 45.30% TOTAL NET NON-OPERATIONS (15,610,221) (29,077) (5,312,525) (9,712,009) 4,399,484 45.30% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (8,738,818) 1,795,396 2,146,338 (2,357,389) 4,503,369 191.03% ENDING FUND BALANCE 9,800,971 20,686,127 16,182,400 4,503,369 27.83% RESERVES Contingency 1,768,275 1,768,275 1,768,275 Reserved Bond Proceeds - 2,500,000 2,500,000 Reserves Total 1,768,275 4,268,275 4,268,275 AVAILABLE FUND BALANCE 8,032,696 16,417,852 11,914,125 4,503,727 37.80% Georgetown Transportation Enhancement Corporation Fund Preliminary Actuals to Year-End Projection September 2019 16 Page 21 of 142 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE FAV(UNFAV) % YEAR-END VARIANCE FAV(UNFAV) BEGINNING FUND BALANCE 6,853,073 6,972,637 6,972,637 - - OPERATING REVENUES Interest 40,300 14,494 178,542 119,000 59,542 50.04% Sales Tax 1,768,275 457,535 1,842,411 1,859,375 (16,964) -0.91% OPERATING REVENUES Total 1,808,575 472,029 2,020,953 1,978,375 42,578 2.15% OPERATING EXPENDITURES Joint Services Allocation 238,622 19,885 238,622 238,622 - - Miscellaneous Expense 50 - - 50 50 100.00% Promotional & Marketing Program 100,000 14,997 97,324 100,000 2,676 2.68% Special Services 30,000 12,493 12,843 30,000 17,157 57.19% Travel & Training 500 - - - - - OPERATING EXPENDITURES Total 369,172 47,375 348,789 368,672 19,883 5.39% TOTAL NET OPERATIONS 1,439,403 424,654 1,672,164 1,609,703 (62,462) -3.88% NON-OPERATING EXPENDITURES Principal Reduction 80,568 80,568 80,568 80,568 - - Debt Service 205,069 120 205,189 205,069 (120) -0.06% Interest Expense 23,157 23,157 23,157 23,157 - - Atmos Energy 146,096 - 151 225,000 224,849 99.93% DisperSol 50,000 - 30,000 30,000 - - Economic Development Projects -Undetermined 7,000,517 - - - - - Holt Cat 185,000 - - - - - Radiation Detection Company 150,000 - - - - - NON-OPERATING EXPENDITURES Total 7,840,407 103,845 339,065 563,794 224,729 39.86% TOTAL NET NON-OPERATIONS (7,840,407) (103,845) (339,065) (563,794) (224,729) 39.86% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (6,401,004) 320,809 1,333,099 1,045,909 287,190 27.46% ENDING FUND BALANCE 452,069 8,305,736 8,018,546 287,190 3.58% RESERVES Contingency 442,069 442,069 442,069 Reserves Total 442,069 442,069 442,069 AVAILABLE FUND BALANCE 10,000 7,863,667 7,576,477 287,190 3.79% Georgetown Economic Development Corporation Fund Preliminary Actuals to Year-End Projection: Sep FY2019 17 Page 22 of 142 18Page 23 of 142 FYE Results by Investment Category: Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value Demand Accounts 0.34% 12,430,730$ 12,430,730$ 0.52% 6,140,421$ 6,140,421$ NOW/MMA 2.33% 10,191,154 10,191,154 2.21% 20,080,071 20,080,071 Pools 2.00% 48,966,731 48,966,731 2.12% 80,054,900 80,054,900 CDs/Securities 2.28% 108,457,058 108,455,269 2.65% 72,607,471 72,611,429 Totals 180,045,674$ 180,043,885$ 178,882,862$178,886,821$ Fourth Quarter-End Yield 2.07%2.29% Average Quarter-End Yields (1): 2018 Fiscal Year 2019 Fiscal Year Georgetown-City 1.30%2.36% Rolling Three Month Treasury 1.23%2.30% Rolling Six Month Treasury 1.26%2.37% TexPool 1.18%2.31% (1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value. September 30, 2018 Annual Comparison of Portfolio Performance September 30, 2019 Valley View Consulting, L.L.C.Page 1.19Page 24 of 142 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield Demand Accounts 5,585,797$ 5,585,797 6,140,421$ 6,140,421$ 0.52% NOW/MMA 10,387,689 10,387,689 20,080,071 20,080,071 2.21% Pools 95,580,912 95,580,912 80,054,900 80,054,900 2.12% CDs/Securities 93,415,689 93,422,519 72,607,471 72,611,429 2.65% Totals 204,970,088$ 204,976,917$ 178,882,862$ 178,886,821$ Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 2.29%Total Portfolio 2.36% Rolling Three Month Treasury 2.02%Rolling Three Month Treasury 2.30% Rolling Six Month Treasury 2.17%Rolling Six Month Treasury 2.37% TexPool 2.16%TexPool 2.31% Bank Fees Offset 9,926$ Interest income provided in separate report.51,762$ June 30, 2019 (1) Average Yield calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. (2) Fiscal Year-to-Date Average Yields calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. Quarterly Bank Fees Offset Year-to-date Bank Fees Offset September 30, 2019 Valley View Consulting, L.L.C. Page 2.20Page 25 of 142 Economic Overview 9/30/2019 The Federal Open Market Committee (FOMC) reduced the Fed Funds target range to 1.75% - 2.00% (Effective Fed Funds are trading +/-1.83%). The Futures Market continues to project additional decreases. Gradual Federal Reserve Bank portfolio reduction ended. August Non Farm Payroll added 136,000 new jobs, with the rolling three month averaging 157,000. Crude oil settled back and trades +/-$55. The Stock Markets waffled near the recent highs. Consumer spending continues albeit less robustly. Overall economic activity remains mostly positive with 2nd Quarter GDP recorded at 2.0%. Brexit, Chinese trade concerns, growth outlook, and other factors may weigh on US growth. The inverted Yield Curve persists with yields declining. 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 S&P 500 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 US Treasury Historical Yields - Since Nov 2015 Six Month T-Bill Two Year T-Note Ten Year T-Note 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 Treasury Yield Curves September 30, 2018 June 30, 2019 September 30, 2019 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 US Treasury Historical Yields - Since 2006 Six Month T-Bill Two Year T-Note Ten Year T-Note Valley View Consulting, L.L.C.Page 3.21Page 26 of 142 City - Investment Holdings Coupon/ Maturity Settlement Face Amount/ Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day) Yield JPMorgan Chase Cash (3)0.52% 10/01/19 09/30/19 6,140,421$ 6,140,421$ 1.00 6,140,421$ 1 0.52% Veritex Bank MMA 2.25% 10/01/19 09/30/19 3,176,587 3,176,587 1.00 3,176,587 1 2.25% NexBank MMA 2.15% 10/01/19 09/30/19 7,275,059 7,275,059 1.00 7,275,059 1 2.15% Origin Bank MMA 2.25% 10/01/19 09/30/19 9,628,425 9,628,425 1.00 9,628,425 1 2.25% TexPool AAAm 2.16% 10/01/19 09/30/19 19,406,369 19,406,369 1.00 19,406,369 1 2.16% TexSTAR AAAm 2.11% 10/01/19 09/30/19 60,648,531 60,648,531 1.00 60,648,531 1 2.11% LegacyTexas Bank CD 2.84% 10/23/19 10/23/18 4,105,507 4,105,507 100.00 4,105,507 23 2.88% T-Bill Aaa/AA+2.43% 11/07/19 02/07/19 5,000,000 4,987,201 99.82 4,991,160 38 2.51% Southside Bank CD 2.76% 11/19/19 11/19/18 3,194,266 3,194,266 100.00 3,194,266 50 2.76% R Bank CD 2.55% 12/07/19 06/07/19 2,012,896 2,012,896 100.00 2,012,896 68 2.58% WallisBank CD 2.77% 01/03/20 01/04/19 3,041,365 3,041,365 100.00 3,041,365 95 2.80% Independent Bank CD 2.88% 02/03/20 08/03/18 5,145,563 5,145,563 100.00 5,145,563 126 2.91% East West Bank CD 2.25% 02/03/20 08/02/19 4,466,489 4,466,489 100.00 4,466,489 126 2.28% BBVA Bank CD 2.25% 02/03/20 08/02/19 2,003,825 2,003,825 100.00 2,003,825 126 2.28% R Bank CD 2.89% 02/15/20 02/15/19 6,086,603 6,086,603 100.00 6,086,603 138 2.93% R Bank CD 2.15% 02/16/20 08/16/19 1,000,000 1,000,000 100.00 1,000,000 139 2.17% Southside Bank CD 2.65% 03/13/20 03/13/19 6,080,421 6,080,421 100.00 6,080,421 165 2.68% East West Bank CD 2.62% 04/01/20 04/01/19 5,183,750 5,183,750 100.00 5,183,750 184 2.65% LegacyTexas Bank CD 2.91% 05/06/20 11/06/18 4,098,011 4,098,011 100.00 4,098,011 219 2.95% Southside Bank CD 2.47% 05/11/20 05/10/19 3,018,677 3,018,677 100.00 3,018,677 224 2.49% BBVA Bank CD 2.51% 06/20/20 06/20/19 4,025,386 4,025,386 100.00 4,025,386 264 2.54% East West Bank CD 2.48% 07/15/20 04/15/19 5,057,743 5,057,743 100.00 5,057,743 289 2.51% R Bank CD 2.10% 08/16/20 08/16/19 2,000,000 2,000,000 100.00 2,000,000 321 2.12% LegacyTexas Bank CD 2.66% 08/21/20 02/22/19 6,093,315 6,093,315 100.00 6,093,315 326 2.69% Independent Bank CD 2.56% 11/10/20 05/10/19 1,006,453 1,006,453 100.00 1,006,453 407 2.58% 178,895,661$ 178,882,862$ 178,886,821$702.29% (1) (2) September 30, 2019 (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment ad visory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees. Valley View Consulting, L.L.C.Page 4.22Page 27 of 142 City - Book Value Comparison Coupon/ Maturity Face Amount/Purchases/ Sales/Adjust/ Face Amount/ Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value JPMorgan Chase Cash 0.52% 10/01/19 5,585,797$ 5,585,797$ 554,623$ –$ 6,140,421$ 6,140,421$ Veritex Bank MMA 2.25% 10/01/19 3,157,291 3,157,291 19,297 3,176,587 3,176,587 NexBank MMA 2.15% 10/01/19 7,230,398 7,230,398 44,660 7,275,059 7,275,059 Origin Bank MMA 2.25% 10/01/19 – – 9,628,425 9,628,425 9,628,425 TexPool 2.16% 10/01/19 14,288,253 14,288,253 5,118,115 19,406,369 19,406,369 TexSTAR 2.11% 10/01/19 81,292,659 81,292,659 (20,644,127) 60,648,531 60,648,531 East West Bank CD 2.20%08/01/19 3,089,921 3,089,921 (3,089,921)– – BTH Bank CD 2.58%08/03/19 3,065,092 3,065,092 (3,065,092)– – Independent Bank CD 2.75% 08/03/19 18,372,777 18,372,777 (18,372,777)– – East West Bank CD 2.66%08/06/19 1,010,623 1,010,623 (1,010,623)– – East West Bank CD 2.70%08/13/19 6,144,625 6,144,625 (6,144,625)– – Origin Bank CD 2.72%08/13/19 3,019,897 3,019,897 (3,019,897)– – LegacyTexas Bank CD 2.84% 10/23/19 4,076,258 4,076,258 29,249 4,105,507 4,105,507 T-Bill 2.43%11/07/19 5,000,000 4,956,215 30,986 5,000,000 4,987,201 Southside Bank CD 2.76%11/19/19 3,172,198 3,172,198 22,068 3,194,266 3,194,266 R Bank CD 2.55%12/07/19 2,000,000 2,000,000 12,896 2,012,896 2,012,896 WallisBank CD 2.77%01/03/20 3,020,498 3,020,498 20,867 3,041,365 3,041,365 Independent Bank CD 2.88% 02/03/20 5,108,479 5,108,479 37,083 5,145,563 5,145,563 East West Bank CD 2.25%02/03/20 – – 4,466,489 4,466,489 4,466,489 BBVA Bank CD 2.25%02/03/20 – – 2,003,825 2,003,825 2,003,825 R Bank CD 2.89%02/15/20 6,042,429 6,042,429 44,174 6,086,603 6,086,603 R Bank CD 2.15%02/16/20 – – 1,000,000 1,000,000 1,000,000 Southside Bank CD 2.65%03/13/20 6,040,077 6,040,077 40,344 6,080,421 6,080,421 East West Bank CD 2.62%04/01/20 5,149,632 5,149,632 34,119 5,183,750 5,183,750 LegacyTexas Bank CD 2.91% 05/06/20 4,068,099 4,068,099 29,912 4,098,011 4,098,011 Southside Bank CD 2.47%05/11/20 3,000,000 3,000,000 18,677 3,018,677 3,018,677 BBVA Bank CD 2.51%06/20/20 – – 4,025,386 4,025,386 4,025,386 East West Bank CD 2.48%07/15/20 5,026,227 5,026,227 31,516 5,057,743 5,057,743 R Bank CD 2.10%08/16/20 – – 2,000,000 2,000,000 2,000,000 LegacyTexas Bank CD 2.66% 08/21/20 6,052,643 6,052,643 40,672 6,093,315 6,093,315 Independent Bank CD 2.56% 11/10/20 1,000,000 1,000,000 6,453 1,006,453 1,006,453 TOTAL 205,013,872$ 204,970,088$ 29,259,837$ (55,347,062)$ 178,895,661$ 178,882,862$ June 30, 2019 September 30, 2019 Valley View Consulting, L.L.C.Page 5.23Page 28 of 142 City - Market Value Comparison Coupon/ Maturity Face Amount/ Qtr to Qtr Face Amount/ Description Discount Date Par Value Market Value Change Par Value Market Value JPMorgan Chase Cash 0.52% 10/01/19 5,585,797$ 5,585,797$ 554,623$ 6,140,421$ 6,140,421$ Veritex Bank MMA 2.25% 10/01/19 3,157,291 3,157,291 19,297 3,176,587 3,176,587 NexBank MMA 2.15% 10/01/19 7,230,398 7,230,398 44,660 7,275,059 7,275,059 Origin Bank MMA 2.25% 10/01/19 – – 9,628,425 9,628,425 9,628,425 TexPool 2.16% 10/01/19 14,288,253 14,288,253 5,118,115 19,406,369 19,406,369 TexSTAR 2.11% 10/01/19 81,292,659 81,292,659 (20,644,127) 60,648,531 60,648,531 East West Bank CD 2.20% 08/01/19 3,089,921 3,089,921 (3,089,921)– – BTH Bank CD 2.58% 08/03/19 3,065,092 3,065,092 (3,065,092)– – Independent Bank CD 2.75% 08/03/19 18,372,777 18,372,777 (18,372,777)– – East West Bank CD 2.66% 08/06/19 1,010,623 1,010,623 (1,010,623)– – East West Bank CD 2.70% 08/13/19 6,144,625 6,144,625 (6,144,625)– – Origin Bank CD 2.72% 08/13/19 3,019,897 3,019,897 (3,019,897)– – LegacyTexas Bank CD 2.84% 10/23/19 4,076,258 4,076,258 29,249 4,105,507 4,105,507 T-Bill 2.43% 11/07/19 5,000,000 4,963,045 28,115 5,000,000 4,991,160 Southside Bank CD 2.76% 11/19/19 3,172,198 3,172,198 22,068 3,194,266 3,194,266 R Bank CD 2.55% 12/07/19 2,000,000 2,000,000 12,896 2,012,896 2,012,896 WallisBank CD 2.77% 01/03/20 3,020,498 3,020,498 20,867 3,041,365 3,041,365 Independent Bank CD 2.88% 02/03/20 5,108,479 5,108,479 37,083 5,145,563 5,145,563 East West Bank CD 2.25% 02/03/20 – – 4,466,489 4,466,489 4,466,489 BBVA Bank CD 2.25% 02/03/20 – – 2,003,825 2,003,825 2,003,825 R Bank CD 2.89% 02/15/20 6,042,429 6,042,429 44,174 6,086,603 6,086,603 R Bank CD 2.15% 02/16/20 – – 1,000,000 1,000,000 1,000,000 Southside Bank CD 2.65% 03/13/20 6,040,077 6,040,077 40,344 6,080,421 6,080,421 East West Bank CD 2.62% 04/01/20 5,149,632 5,149,632 34,119 5,183,750 5,183,750 LegacyTexas Bank CD 2.91% 05/06/20 4,068,099 4,068,099 29,912 4,098,011 4,098,011 Southside Bank CD 2.47% 05/11/20 3,000,000 3,000,000 18,677 3,018,677 3,018,677 BBVA Bank CD 2.51% 06/20/20 – – 4,025,386 4,025,386 4,025,386 East West Bank CD 2.48% 07/15/20 5,026,227 5,026,227 31,516 5,057,743 5,057,743 R Bank CD 2.10% 08/16/20 – – 2,000,000 2,000,000 2,000,000 LegacyTexas Bank CD 2.66% 08/21/20 6,052,643 6,052,643 40,672 6,093,315 6,093,315 Independent Bank CD 2.56% 11/10/20 1,000,000 1,000,000 6,453 1,006,453 1,006,453 TOTAL 205,013,872$ 204,976,917$ (26,090,096)$ 178,895,661$ 178,886,821$ September 30, 2019June 30, 2019 Valley View Consulting, L.L.C.Page 6.24Page 29 of 142 0–6 Months 83% 6–12 Months 16% 12–18 Months 1% Current Quarter Maturities $0 $25,000,000 $50,000,000 $75,000,000 $100,000,000 $125,000,000 $150,000,000 $175,000,000 $200,000,000 $225,000,000 12/31/18 03/31/19 06/30/19 09/30/19 Portfolio Balances Money Market Local Depository TexSTAR TexPool Certificate of Deposit US Treasury 166174166 102 69 90 73 75 109104 123 156163 97108 87 51 67 49 41 91 73 61 54 99 71 124 95100 80 70 0 50 100 150 200 # o f D a y s Weighted Average to Maturity JPMorgan Chase 3% Southside Bank 7% LegacyTexas Bank 8% Veritex Bank 2% NexBank 4% TexPool 11% TexSTAR 34% Independent Bank 4% Origin Bank 5% WallisBank 2% East West Bank 8% R bank 6% BBVA Bank 3% T-Bill 3% Portfolio Holdings by Issuer Valley View Consulting, L.L.C.Page 7.25Page 30 of 142 City - Allocation Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles JPMorgan Chase Cash 6,140,421$ 6,140,421$ –$ –$ –$ –$ –$ Veritex Bank MMA 3,176,587 3,176,587 – – – – – NexBank MMA 7,275,059 7,275,059 – – – – – Origin Bank MMA 9,628,425 4,011,844 – – – – – TexPool 19,406,369 19,406,369 – – – – – TexSTAR 60,648,531 9,570,642 157,987 59,667 944,180 1,985,069 121,638 LegacyTexas Bank CD 10/23/19 4,105,507 4,105,507 – – – – – T-Bill 11/07/19 4,987,201 – – – – – – Southside Bank CD 11/19/19 3,194,266 3,194,266 – – – – – R Bank CD 12/07/19 2,012,896 2,012,896 – – – – – WallisBank CD 01/03/20 3,041,365 3,041,365 – – – – – Independent Bank CD 02/03/20 5,145,563 3,069,396 – – – – – East West Bank CD 02/03/20 4,466,489 – – – – – – BBVA Bank CD 02/03/20 2,003,825 – – – – – – R Bank CD 02/15/20 6,086,603 6,086,603 – – – – – R Bank CD 02/16/20 1,000,000 – – – – – – Southside Bank CD 03/13/20 6,080,421 6,080,421 – – – – – East West Bank CD 04/01/20 5,183,750 5,183,750 – – – – – LegacyTexas Bank CD 05/06/20 4,098,011 4,098,011 – – – – – Southside Bank CD 05/11/20 3,018,677 3,018,677 – – – – – BBVA Bank CD 06/20/20 4,025,386 4,025,386 – – – – – East West Bank CD 07/15/20 5,057,743 5,057,743 – – – – – R Bank CD 08/16/20 2,000,000 – – – – – – LegacyTexas Bank CD 08/21/20 6,093,315 6,093,315 – – – – – Independent Bank CD 11/10/20 1,006,453 1,006,453 – – – – – Totals 178,882,862$ 105,654,710$ 157,987$ 59,667$ 944,180$ 1,985,069$ 121,638$ Book Value September 30, 2019 Valley View Consulting, L.L.C. Page 8.26Page 31 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals Book Value September 30, 2019 (Continued) 2015 CO- Stormwater 2015 CO- Water 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175 14,428 2,486,163 999,652 4,330 55,861 1,512,621 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 532,498 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175$ 14,428$ 2,486,163$ 1,532,149$ 4,330$ 55,861$ 1,512,621$ Valley View Consulting, L.L.C. Page 9.27Page 32 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals Book Value September 30, 2019 (Continued) 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 GO- Parks 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,065,612 385,898 193,554 75,482 943,007 96,503 7,444,101 – – – – – – – – – – – – – 4,987,201 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – 2,065,612$ 385,898$ 193,554$ 75,482$ 943,007$ 96,503$ 15,431,302$ Valley View Consulting, L.L.C. Page 10.28Page 33 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals Book Value September 30, 2019 (Continued) 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads 2018 Revenue Electric 2019 CO- Airport 2019 CO- Streets/ Facilities/ Equip –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – 4,663,768 – – – – – – – 154,588 2,769,635 1,127,886 12,084,681 1,525,298 1,070 9,471,437 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,025,524 518,145 – – – – – – – – – – 3,462,784 – – – 2,003,825 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 154,588$ 3,795,159$ 1,646,031$ 14,088,506$ 1,525,298$ 1,070$ 17,597,989$ Valley View Consulting, L.L.C. Page 11.29Page 34 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals Book Value September 30, 2019 (Continued) 2018 CO- Stormwater 2018 GO- Roads –$ –$ – – – – – 952,813 – – 721,434 3,065,932 – – – – – – – – – – – – – 1,003,705 – – – – – – – – – – – – – – – – – – – – – – – – 721,434$ 5,022,450$ Valley View Consulting, L.L.C. Page 12.30Page 35 of 142 City - Allocation September 30, 2019 Market Value Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles JPMorgan Chase Cash 6,140,421$ 6,140,421$ –$ –$ –$ –$ Veritex Bank MMA 3,176,587 3,176,587 – – – – – NexBank MMA 7,275,059 7,275,059 – – – – – Origin Bank MMA 9,628,425 4,011,844 – – – – – TexPool 19,406,369 19,406,369 – – – – – TexSTAR 60,648,531 9,570,642 157,987 59,667 944,180 1,985,069 121,638 LegacyTexas Bank CD 10/23/19 4,105,507 4,105,507 – – – – – T-Bill 11/07/19 4,991,160 – – – – – – Southside Bank CD 11/19/19 3,194,266 3,194,266 – – – – – R Bank CD 12/07/19 2,012,896 2,012,896 – – – – – WallisBank CD 01/03/20 3,041,365 3,041,365 – – – – – I ndependent Bank CD 02/03/20 5,145,563 3,069,396 – – – – – East West Bank CD 02/03/20 4,466,489 – – – – – – BBVA Bank CD 02/03/20 2,003,825 – – – – – – R Bank CD 02/15/20 6,086,603 6,086,603 – – – – – R Bank CD 02/16/20 1,000,000 – – – – – – Southside Bank CD 03/13/20 6,080,421 6,080,421 – – – – – East West Bank CD 04/01/20 5,183,750 5,183,750 – – – – – LegacyTexas Bank CD 05/06/20 4,098,011 4,098,011 – – – – – Southside Bank CD 05/11/20 3,018,677 3,018,677 – – – – – BBVA Bank CD 06/20/20 4,025,386 4,025,386 – – – – – East West Bank CD 07/15/20 5,057,743 5,057,743 – – – – – R Bank CD 08/16/20 2,000,000 – – – – – – LegacyTexas Bank CD 08/21/20 6,093,315 6,093,315 – – – – – Independent Bank CD 11/10/20 1,006,453 1,006,453 – – – – – Totals 178,886,821$ 105,654,710$ 157,987$ 59,667$ 944,180$ 1,985,069$ 121,638$ Valley View Consulting, L.L.C. Page 13.31Page 36 of 142 City - Allocation September 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2015 CO- Stormwater 2015 CO- Water 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175 14,428 2,486,163 999,652 4,330 55,861 1,512,621 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 532,498 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 610,175$ 14,428$ 2,486,163$ 1,532,149$ 4,330$ 55,861$ 1,512,621$ Valley View Consulting, L.L.C. Page 14.32Page 37 of 142 City - Allocation September 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 GO- Parks 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,065,612 385,898 193,554 75,482 943,007 96,503 7,444,101 – – – – – – – – – – – – – 4,991,160 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – 2,065,612$ 385,898$ 193,554$ 75,482$ 943,007$ 96,503$ 15,435,261$ Valley View Consulting, L.L.C. Page 15.33Page 38 of 142 City - Allocation September 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads 2018 Revenue Electric 2019 CO- Airport 2019 CO- Streets/ Facilities/ Equip –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – 4,663,768 – – – – – – – 154,588 2,769,635 1,127,886 12,084,681 1,525,298 1,070 9,471,437 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,025,524 518,145 – – – – – – – – – – 3,462,784 – – – 2,003,825 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 154,588$ 3,795,159$ 1,646,031$ 14,088,506$ 1,525,298$ 1,070$ 17,597,989$ Valley View Consulting, L.L.C. Page 16.34Page 39 of 142 City - Allocation September 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 East West Bank CD 02/03/20 BBVA Bank CD 02/03/20 R Bank CD 02/15/20 R Bank CD 02/16/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 BBVA Bank CD 06/20/20 East West Bank CD 07/15/20 R Bank CD 08/16/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2018 CO- Stormwater 2018 GO- Roads –$ –$ – – – – – 952,813 – – 721,434 3,065,932 – – – – – – – – – – – – – 1,003,705 – – – – – – – – – – – – – – – – – – – – – – – – 721,434$ 5,022,450$ Valley View Consulting, L.L.C. Page 17.35Page 40 of 142 City - Allocation Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles JPMorgan Chase Cash 5,585,797$ 5,585,797$ –$ –$ –$ –$ –$ Veritex Bank MMA 3,157,291 3,157,291 – – – – – NexBank MMA 7,230,398 7,230,398 – – – – – TexPool 14,288,253 14,288,253 – – – – – TexSTAR 81,292,659 17,498,406 157,111 59,336 1,617,652 14,986,361 189,283 East West Bank CD 08/01/19 3,089,921 3,089,921 – – – – – BTH Bank CD 08/03/19 3,065,092 – – – – – – Independent Bank CD 08/03/19 18,372,777 – – – – – – East West Bank CD 08/06/19 1,010,623 – – – – – – East West Bank CD 08/13/19 6,144,625 6,144,625 – – – – – Origin Bank CD 08/13/19 3,019,897 – – – – – – LegacyTexas Bank CD 10/23/19 4,076,258 4,076,258 – – – – – T-Bill 11/07/19 4,956,215 – – – – – – Southside Bank CD 11/19/19 3,172,198 3,172,198 – – – – – R Bank CD 12/07/19 2,000,000 2,000,000 – – – – – WallisBank CD 01/03/20 3,020,498 3,020,498 – – – – – Independent Bank CD 02/03/20 5,108,479 3,047,276 – – – – – R Bank CD 02/15/20 6,042,429 6,042,429 – – – – – Southside Bank CD 03/13/20 6,040,077 6,040,077 – – – – – East West Bank CD 04/01/20 5,149,632 5,149,632 – – – – – LegacyTexas Bank CD 05/06/20 4,068,099 4,068,099 – – – – – Southside Bank CD 05/11/20 3,000,000 3,000,000 – – – – – East West Bank CD 07/15/20 5,026,227 5,026,227 – – – – – LegacyTexas Bank CD 08/21/20 6,052,643 6,052,643 – – – – – Independent Bank CD 11/10/20 1,000,000 1,000,000 – – – – – Totals 204,970,088$ 108,690,028$ 157,111$ 59,336$ 1,617,652$ 14,986,361$ 189,283$ June 30, 2019 Book Value Valley View Consulting, L.L.C. Page 18.36Page 41 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals June 30, 2019 Book Value (Continued) 2015 CO- Stormwater 2015 CO- Water 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 629,787 14,348 2,472,379 10,949 4,306 55,551 1,525,813 – – – – – – – – – – – – – – – – – 1,020,710 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 528,660 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 629,787$ 14,348$ 2,472,379$ 1,560,318$ 4,306$ 55,551$ 1,525,813$ Valley View Consulting, L.L.C. Page 19.37Page 42 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals June 30, 2019 Book Value (Continued) 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 GO- Parks 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 931,743 385,940 334,995 75,064 1,243,158 95,968 4,648,515 – – – – – – – – – – – – – 3,065,092 4,082,839 – – – – – – – – – – – – – – – – – – – – – – – – – – 3,019,897 – – – – – – – – – – – – – 4,956,215 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 5,014,582$ 385,940$ 334,995$ 75,064$ 1,243,158$ 95,968$ 15,689,718$ Valley View Consulting, L.L.C. Page 20.38Page 43 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals June 30, 2019 Book Value (Continued) 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads 2018 Revenue Electric 2019 CO- Airport 2019 CO- Streets/ Facilities/ Equip –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 153,731 509,167 741,707 5,312,952 2,301,797 1,064 19,208,081 – – – – – – – – – – – – – – – 3,368,342 1,020,710 8,880,175 – – – – – – 1,010,623 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,018,133 514,410 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 153,731$ 4,895,643$ 2,276,828$ 15,203,750$ 2,301,797$ 1,064$ 19,208,081$ Valley View Consulting, L.L.C. Page 21.39Page 44 of 142 City - Allocation JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals June 30, 2019 Book Value (Continued) 2018 CO- Stormwater 2018 GO- Roads –$ –$ – – – – – – 782,294 5,345,200 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 782,294$ 5,345,200$ Valley View Consulting, L.L.C. Page 22.40Page 45 of 142 City - Allocation June 30, 2019 Market Value Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles JPMorgan Chase Cash 5,585,797$ 5,585,797$ –$ –$ –$ –$ Veritex Bank MMA 3,157,291 3,157,291 – – – – – NexBank MMA 7,230,398 7,230,398 – – – – – TexPool 14,288,253 14,288,253 – – – – – TexSTAR 81,292,659 17,498,406 157,111 59,336 1,617,652 14,986,361 189,283 East West Bank CD 08/01/19 3,089,921 3,089,921 – – – – – BTH Bank CD 08/03/19 3,065,092 – – – – – – Independent Bank CD 08/03/19 18,372,777 – – – – – – East West Bank CD 08/06/19 1,010,623 – – – – – – East West Bank CD 08/13/19 6,144,625 6,144,625 – – – – – Origin Bank CD 08/13/19 3,019,897 – – – – – – LegacyTexas Bank CD 10/23/19 4,076,258 4,076,258 – – – – – T-Bill 11/07/19 4,963,045 – – – – – – Southside Bank CD 11/19/19 3,172,198 3,172,198 – – – – – R Bank CD 12/07/19 2,000,000 2,000,000 – – – – – WallisBank CD 01/03/20 3,020,498 3,020,498 – – – – – Independent Bank CD 02/03/20 5,108,479 3,047,276 – – – – – R Bank CD 02/15/20 6,042,429 6,042,429 – – – – – Southside Bank CD 03/13/20 6,040,077 6,040,077 – – – – – East West Bank CD 04/01/20 5,149,632 5,149,632 – – – – – LegacyTexas Bank CD 05/06/20 4,068,099 4,068,099 – – – – – Southside Bank CD 05/11/20 3,000,000 3,000,000 – – – – – East West Bank CD 07/15/20 5,026,227 5,026,227 – – – – – LegacyTexas Bank CD 08/21/20 6,052,643 6,052,643 – – – – – Independent Bank CD 11/10/20 1,000,000 1,000,000 – – – – – Totals 204,976,917$ 108,690,028$ 157,111$ 59,336$ 1,617,652$ 14,986,361$ 189,283$ Valley View Consulting, L.L.C. Page 23.41Page 46 of 142 City - Allocation June 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2015 CO- Stormwater 2015 CO- Water 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 629,787 14,348 2,472,379 10,949 4,306 55,551 1,525,813 – – – – – – – – – – – – – – – – – 1,020,710 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 528,660 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 629,787$ 14,348$ 2,472,379$ 1,560,318$ 4,306$ 55,551$ 1,525,813$ Valley View Consulting, L.L.C. Page 24.42Page 47 of 142 City - Allocation June 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 GO- Parks 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 931,743 385,940 334,995 75,064 1,243,158 95,968 4,648,515 – – – – – – – – – – – – – 3,065,092 4,082,839 – – – – – – – – – – – – – – – – – – – – – – – – – – 3,019,897 – – – – – – – – – – – – – 4,963,045 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 5,014,582$ 385,940$ 334,995$ 75,064$ 1,243,158$ 95,968$ 15,696,548$ Valley View Consulting, L.L.C. Page 25.43Page 48 of 142 City - Allocation June 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads 2018 Revenue Electric 2019 CO- Airport 2019 CO- Streets/ Facilities/ Equip –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 153,731 509,167 741,707 5,312,952 2,301,797 1,064 19,208,081 – – – – – – – – – – – – – – – 3,368,342 1,020,710 8,880,175 – – – – – – 1,010,623 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,018,133 514,410 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 153,731$ 4,895,643$ 2,276,828$ 15,203,750$ 2,301,797$ 1,064$ 19,208,081$ Valley View Consulting, L.L.C. Page 26.44Page 49 of 142 City - Allocation June 30, 2019 Market Value JPMorgan Chase Cash Veritex Bank MMA NexBank MMA TexPool TexSTAR East West Bank CD 08/01/19 BTH Bank CD 08/03/19 Independent Bank CD 08/03/19 East West Bank CD 08/06/19 East West Bank CD 08/13/19 Origin Bank CD 08/13/19 LegacyTexas Bank CD 10/23/19 T-Bill 11/07/19 Southside Bank CD 11/19/19 R Bank CD 12/07/19 WallisBank CD 01/03/20 Independent Bank CD 02/03/20 R Bank CD 02/15/20 Southside Bank CD 03/13/20 East West Bank CD 04/01/20 LegacyTexas Bank CD 05/06/20 Southside Bank CD 05/11/20 East West Bank CD 07/15/20 LegacyTexas Bank CD 08/21/20 Independent Bank CD 11/10/20 Totals (Continued) 2018 CO- Stormwater 2018 GO- Roads –$ –$ – – – – – – 782,294 5,345,200 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 782,294$ 5,345,200$ Valley View Consulting, L.L.C. Page 27.45Page 50 of 142 Valley View Consulting, L.L.C. 0.00 1.00 2.00 3.00 4.00 5.00 6.00 City of Georgetown Historical Yields Georgetown TexPool Rolling 3 mo T-Bill Rolling 6 mo T-Bill Rolling 12 mo T-Bill Page 28.46Page 51 of 142 47Page 52 of 142 48Page 53 of 142 49Page 54 of 142 50Page 55 of 142 51Page 56 of 142 52Page 57 of 142 53Page 58 of 142 54Page 59 of 142 55Page 60 of 142 56Page 61 of 142 57Page 62 of 142 58Page 63 of 142 59Page 64 of 142 60Page 65 of 142 Department Federal Grantor Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized Airport N/A Texas Department of Transportation-Aviation M1914GEOR RAMP Grant - Routine Airport Maintenance Program 120,110.95 50,000.00 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 16MPGRGTN Airport Master Plan Update 5,870.00 5,870.00 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1814GRGTN Runway 18/36 Rehabilitation- Engineering 458,400.00 412,560.00 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1814GEORG Runway 18/36 Rehabilitation- Construction 4,298,372.42 3,868,535.18 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1914GEORG Taxiway Lighting Project - -$ Fire US Department of Homeland Security Federal Emergency Management Agency EMW-2017-FH-00496 SAFER 474,551.90 355,627.84 Library Institute of Museum & Library Services Texas State Library & Archives Commission LS-00-18-0044-18 TSL Resource Coordinator - 3rd year (Patrick Lloyd) 71,657.34 69,743.00 Planning US Department of Housing & Urban Development Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps along 17th St 19,760.00 19,760.00 Police Bureau of Justice Assistance N/A KXPIIIA Bullet Proof Vests - Supply Police with new vests 3,560.85 1,780.44 Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement 30,808.54 40,228.65 Police US. Department of Treasury N/A TX2460200 Equitable Sharing Agreement 51,536.26 - Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-187 Highway Planning & Construction (Austin Ave Bridge) 89,033.08 - Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-200,201,202 Highway Planning & Construction (Austin Ave Bridge) - - Parks Texas Parks and Wildlife Department (TPWD) Federal Highway Administration RT017010 Recreation San Gabriel Trails $ 16,239.73 $- Division Grantor Status Gus - Electric Department of Energy (DOE)Battery Storage Project Pending discussion between Opus One and new Electric Manager before taking to council (as of 10/8/19) Planning Williamson County/CDBG Home Repair No agreement with HUD until after 10/1/2019 Planning Williamson County/CDBG Scenic Dr Sidewalk Alternate Project, likely will not be awarded. Reviewed By: Elaine Wilson CITY OF GEORGETOWN Grant/Federal Funding Report as of September 30, 2019 COG Name/Purpose Active Applications Pending Award 61 Page 66 of 142 CIP Quarterly Report - Q4 FY2019 Budget Year-todate (W/Encum)Remaining Balance AIRPORT OPERATIONS 600-5-0636-52-140 DESIGN RUNWAY REHAB 516,500 475,677 40,823 600-5-0636-52-141 HANGAR UPGRADES 75,000 75,000 - 600-5-0636-52-142 PAVEMENT UPGRADES 15,000 (10,744) 25,744 600-5-0636-52-145 WILDLIFE MANAGEMENT 35,000 31,801 3,199 600-5-0636-52-161 AIRPORT MASTER PLAN - 5,870 (5,870) 600-9-0636-52-144 TAXIWAY EDGE LIGHTING 150,000 - 150,000 AIRPORT OPERATIONS Total 791,500 577,605 213,895 CDBG GRANTS 215-9-0880-90-003 17TH STREET 206,824 23,830 182,994 215-9-0880-90-004 MAPLE STREET 80,784 - 80,784 CDBG GRANTS Total 287,608 23,830 263,778 DOWNTOWN TIRZ 293-9-0602-90-002 PARKING IMPROVEMENTS 106,902 830 106,072 293-9-0602-90-003 DTWN LANDSPING & PUBLC ART 45,000 79,205 (34,205) 293-9-0602-90-007 GRACE HERITAGE PLAZA 139,100 - 139,100 DOWNTOWN TIRZ Total 291,002 80,035 210,967 ELECTRIC SERVICES 610-9-0580-90-007 I35 MOBILITY TXDOT PROJECT - 4,450 (4,450) 610-9-0580-90-134 HWY 195 - 903 (903) 610-9-0580-90-137 RONALD REAGAN - 303 (303) 610-9-0580-90-142 DOWNTOWN WEST 227,536 100,888 126,648 610-9-0580-90-143 SHELL ROAD FEEDERS - 13,545 (13,545) 610-9-0580-90-256 GEO. EAST T2 VOLTAGE CHANGE 23,757 5,350 18,407 610-9-0580-90-260 DB WOOD_SH29 INTERSECTION 145,445 52,420 93,025 610-9-0580-90-263 LEANDER RD_IH35 INTERSECTION 10,000 - 10,000 610-9-0580-90-264 NORTHWEST BLVD WIDENING - (0) 0 610-9-0580-90-266 RIVERY EXTENSION 49,269 24,713 24,557 610-9-0580-90-267 UNIVERSITY_MAYS WIDENING 154,000 2,104 151,896 610-9-0580-90-310 POWER QUALITY IMPROVEMENTS 40,000 - 40,000 610-9-0580-90-320 SECTIONALIZATION IMPROVEMENTS 50,000 - 50,000 610-9-0580-90-350 RELOCATION PROJECTS REIMBURSED - 16,585 (16,585) 610-9-0580-90-410 NEW DEVELOPMENT PROJECTS 3,023,000 3,445,057 (422,057) 610-9-0580-90-430 STREET LIGHTING 44,000 226 43,774 610-9-0580-90-500 CONSULTANT ENGINEERING 150,000 158,916 (8,916) 610-9-0580-90-701 FIBER OPTIC 50,000 11,706 38,294 610-9-0580-90-702 FIBER TO SIGNAL LIGHTS 50,000 - 50,000 610-9-0580-91-105 CIS SYSTEM - 20,000 (20,000) ELECTRIC SERVICES Total 4,017,007 3,857,165 159,842 GATEWAY TIRZ 295-9-0602-90-001 CAPITAL IMPROVEMENTS 120,000 - 120,000 GATEWAY TIRZ Total 120,000 - 120,000 GENERAL CAPITAL PROJECTS 120-9-0280-90-031 NEIGHBORHOOD PARK DEVELOPMENT 250,000 97,867 152,133 120-9-0280-90-035 VFW PARK 175,000 163,325 11,675 120-9-0280-90-045 SAN GABRIEL PARK IMPROVEMENT 834,288 532,381 301,907 120-9-0280-90-046 GAREY PARK 370,000 28,470 341,530 120-9-0280-90-047 SIDEWALKS 142,858 87,659 55,199 120-9-0280-90-051 LIBRARY CANOPY 75,934 75,934 0 120-9-0280-90-060 ADA PARKS 450,405 - 450,405 120-9-0280-90-066 KATY CROSSING TRAIL 240,313 - 240,313 120-9-0380-90-048 FIRE STATION ASSESSMENTS 30,000 30,000 - 120-9-0380-90-080 DOWNTOWN PARKING GARAGE 5,000,000 55,971 4,944,029 120-9-0380-90-159 FIRE STATION 7 6,471,601 5,405,623 1,065,978 120-9-0380-90-160 EOC SIREN SYSTEM 6,631 - 6,631 120-9-0380-90-163 FIRE STATION 6 5,499,725 4,834,842 664,883 120-9-0380-90-166 DATA CENTER - PSOTC 100,676 158,220 (57,544) 120-9-0380-90-168 TRANSFER STATION/LANDFILL 1,011,337 44,201 967,136 120-9-0380-90-169 ERP PROJECT 5,366,384 5,268,880 97,504 62Page 67 of 142 CIP Quarterly Report - Q4 FY2019 Budget Year-todate (W/Encum)Remaining Balance 120-9-0380-90-170 FACILITY EFFICIENCY STUDY 78,734 91,234 (12,500) 120-9-0381-90-022 RADIO REPLACEMENT PUB SAFETY 500,000 500,000 - 120-9-0381-91-016 FIRE SCBA 290,000 - 290,000 120-9-0381-91-022 RADIO REPLACEMENT 500,000 500,000 - 120-9-0680-90-008 CVB REDESIGN 175,000 - 175,000 120-9-0680-90-012 DOWNTOWN WEST 560,897 583,128 (22,231) 120-9-0680-90-013 DOWNTOWN WEST SIGNAGE 125,000 - 125,000 120-9-0680-90-014 DOWNTOWN PARKING EXPANSION 600,000 74,764 525,236 120-9-0880-90-038 LEANDER RD(NORWOOD-SWBYPASS)2,000,000 1,211,749 788,251 120-9-0880-90-041 BLUE HOLE PARKING LOT/SIDEWALK 100,000 - 100,000 120-9-0880-90-050 NB FRONTAGE RD 150,000 3 149,997 120-9-0880-90-054 AUSTIN AVENUE BRIDGE 238,132 155,161 82,971 120-9-0880-90-065 SOUTHWESTERN BLVD 1,550,000 509,485 1,040,515 120-9-0880-90-066 SHELL ROAD SIDEWALK 180,000 - 180,000 120-9-0880-90-086 SW BYPASS LEANDER TO I35 - (1,000) 1,000 120-9-0880-90-087 FM 971 3,900,000 18,665 3,881,335 120-9-0880-90-088 FM 1460 900,000 - 900,000 120-9-0880-90-091 SW BYPASS/WOLF RANCH PKWY 1,717,771 715,647 1,002,124 120-9-0880-90-092 SOUTHEAST INNER LOOP 1,200,000 855,318 344,682 120-9-0880-90-105 NORTHWEST BLVD BRIDGE 10,307,612 2,701,389 7,606,223 120-9-0880-90-106 LEANDER RD(SW BYPASS)1,550,000 - 1,550,000 120-9-0880-90-107 ROCK ST-6TH TO 9TH ST 273,000 - 273,000 120-9-0880-90-108 RIVERY EXTENSION - 56,187 (56,187) 120-9-0880-90-109 SE INNER LOOP ROCKRIDE IMPRV 115,000 - 115,000 120-9-0880-91-001 10TH ST (MAIN-ROCK)168,880 168,880 - 120-9-0880-91-002 11TH ST. (MAIN-ROCK)236,130 236,130 - 120-9-0880-91-006 AUSTIN AVE. (SH29-FM2243)492,300 494,445 (2,145) 120-9-0880-91-008 OLD TOWN NORTHEAST 826,445 2,017 824,428 120-9-0880-91-009 PH 1 SIGNAL & CURB RAMP IMPR.308,837 - 308,837 GENERAL CAPITAL PROJECTS Total 55,068,890 25,656,574 29,412,316 STORMWATER CAPITAL IMPROVEMENT 640-9-0880-90-005 CURB & GUTTER 527,504 122,853 404,651 640-9-0880-90-020 STORMWATER INFASTRUCTURE 200,000 41,100 158,900 640-9-0880-90-040 SPOILS FACILITY 100,000 - 100,000 640-9-0880-90-064 POND REHAB-2ND AND ROCK 450,000 24,205 425,795 640-9-0880-90-078 18TH AND HUTTO DRAINAGE 184,367 25,544 158,823 640-9-0880-90-079 2ND AND ROCK POND - 894 (894) 640-9-0880-90-081 VILLAGE PID INLET 75,000 - 75,000 STORMWATER CAPITAL IMPROVEMENT Total 1,536,871 214,596 1,322,275 STREET TAX SRF 203-9-0880-90-071 STREET MAINTENANCE 5,443,616 5,101,569 342,047 STREET TAX SRF Total 5,443,616 5,101,569 342,047 WATER SERVICES 660-9-0580-90-071 TANK REHAB PROJECTS 480,000 55,455 424,545 660-9-0580-90-076 DB WOOD/ PASTOR 24 DEDICATED 5,285,667 3,015,549 2,270,118 660-9-0580-90-077 RABBIT HILL WATERLINE 1,050,000 - 1,050,000 660-9-0580-90-078 RONALD REAGAN/DANIELS MOUNTAIN 6,425,959 6,177,625 248,334 660-9-0580-90-079 ROCK SUPPLY LINE 1,100,000 - 1,100,000 660-9-0580-90-080 RADIO REPLACEMENT 153,670 153,670 - 660-9-0580-90-097 SUN CITY ELEVATED STORAGE TANK - 3,327 (3,327) 660-9-0580-90-125 SHELL ROAD WATER LINE 6,033,651 - 6,033,651 660-9-0580-90-146 LWTP - DEWATERING FACILITY - 29,879 (29,879) 660-9-0580-90-166 LEANDER INTERCONNECT 225,000 - 225,000 660-9-0580-90-167 WEST LOOP (H-1A)2,119,000 854,862 1,264,138 660-9-0580-90-168 LWTP RAW WATER INTAKE REHAB 13,450,000 2,884,761 10,565,239 660-9-0580-90-170 CR 255 (WD14-2)1,493,963 - 1,493,963 660-9-0580-90-171 DOMEL PS IMPROVEMENTS (216,892) (216,892) - 660-9-0580-90-175 BRAUN EST 4,350,731 3,528,453 822,278 660-9-0580-90-176 MISC. LINE UPGRADES 393,899 22,049 371,850 660-9-0580-90-177 PARK WTP CLEARWELL 170,000 - 170,000 660-9-0580-90-178 S. LAKE WTP 2018 6,950,260 3,179,544 3,770,716 660-9-0580-90-179 SW BYPASS WATER H24-1 500,000 - 500,000 660-9-0580-90-180 TANK REHABILITATION 480,000 - 480,000 660-9-0580-90-200 WATER MAINS 2,208,325 821,777 1,386,548 660-9-0580-91-102 ASSET MANAGEMENT - 24,565 (24,565) 660-9-0580-91-105 CIS SYSTEM - 37,653 (37,653) 660-9-0581-90-051 PECAN BRANCH PH 2 - 1,264 (1,264) 660-9-0581-90-160 BERRY CREEK INTER (BC 4-6)20,714,161 5,791,223 14,922,938 660-9-0581-90-162 BERRY CREEK INTER (BC 1-3)- 42,318 (42,318) 660-9-0581-90-163 SAN GABRIEL BELT PRESS 1,900,932 58,500 1,842,432 660-9-0581-90-164 PARK LIFT STATION & FORCE MAIN 3,585,740 11,400 3,574,340 660-9-0581-90-166 EARZ 2,000,000 1,173,688 826,312 660-9-0581-90-167 SAN GABRIEL INTER SGI-2 2,500,000 1,037,700 1,462,300 660-9-0581-90-200 WW INTERCEPTORS 613,874 5,444 608,430 660-9-0581-90-210 WWTP UPGRADE/EXP 1,150,000 148,815 1,001,185 660-9-0581-90-220 LIFT STATION UPGRADE 550,000 2,835 547,165 WATER SERVICES Total 85,667,940 28,845,463 56,822,477 Grand Total 153,224,434 64,356,836 88,867,598 63Page 68 of 142 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 6/30/19 Status Updates ‐ 9/30/19 Cemetery Special Revenue  Fund Currently cemetery operations are self‐funded through plot  sales of approximately $50K per year. The cemetery is  managed through Parks Administration. In 2015, Council  elected to reserve $75,000 annually for future costs  associated with maintaining the property.  The General  Fund has made this transfer in since FY 2016. Continue to request the $75,000 be added to the reserves for future  maintenance costs. There has been no change during this quarter. Unfunded Actuarial Accrued  Liability (UAAL) Recognizes the outstanding liability for the City’s employee  retirement plan through TMRS.  The City contributes  monthly to fund the UAAL, based on an annual percentage  of payroll. Actual % of payroll costs is recognized within  each fund. The UAAL is provided by TMRS and lags one  year. As of 12/31/2017, the net pension liability (NPL) is $17.3 million and  is 87.8% funded.  The 2019 TMRS total combined contribution rate  is 12.36%. As of 12/31/2018, the net pension liability is $22.3 million and is  85.6% funded. The 2020 total combined contribution rate is  12.26%. This decrease is due to a decrease in payroll growth.  Other Post Employee Benefits  (OPEB) While the City has no obligation to offer additional retiree  benefits, retirees are eligible to participate in the City’s  health insurance program.  That ability represents a subsidy  that impacts health insurance costs to the City. Retirees pay  their monthly premiums to the self insurance fund, which  then processes their health insurance claims.    This is an actuarial calculation based on current and future employees on future City health insurance costs and Life insurance  benefits, which has numerous and complex factors in its calculation.  Retirees pay their own premiums, and thus the liability is  considered “pay as you go”. With additional employees being  added, potential future retiree impacts increase. The 2018 current  OPEB liability is $2,182,012 for healthcare benefits and $1,091,292 for Life  insurance benefits. No change. Staff will review the 2019 OPEB calculation and present  it with the audited financial statements. Compensated Absence Future costs associated with benefits such as vacation, and  sick leave for City employees. Compensated Absence is  accrued annually to each proprietary fund type on a GAAP  basis and accounted for on the balance sheet of each fund.  For governmental funds (and for budgetary basis), the  expense is recognized when due and payable.   The current amount of the Benefit Payout Reserve is $255,000.   Will be updated when FY 19 audit is completed. Electric Fund Rate Stabilization  Reserve Intended to mitigate potential rate impacts due to increased  fuel costs or other external factors. The RSR is maintained  within the Electric Fund.  The PCA was increased in June of 2019 to recover additional costs  for purchased power. The 90 day contingency reserve is projected  to be met at the end of FY2019. The June PCA is scheduled to  remain in effect during the FY2020 budget.  Purchased Power prices continued to affect the fund balance. The  City sold several assets as detailed in the Executive Summary of this  report in order to improve cash flow and begin to recover the rate  stabilization reserve. The City is on track to approve a contract in  December to manage the power portfolio in FY2020. The June PCA  will remain in effect in FY2020. CITY OF GEORGETOWN Long-term Commitments, Reservations, and Other Unfunded Liabilities September 30, 2019 64Page 69 of 142 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 6/30/19 Status Updates ‐ 9/30/19 Airport Maintenance Fund on‐going maintenance of the Airport grounds,  runways and taxi ways.  Terminal and Tower included in  Facilities ISF. An Airport Master Plan was developed to  address long term capital maintenance project  prioritization.  There is a new paving project that will begin the last week of  August.   Terminal Drive was paved in late August 2019.  That is the only  paving project that I know of here.  We did have the runway rehab  project, but that was a TxDOT/FAA funded project. Americans with Disabilities Act  (ADA) Compliance Needs As facilities are built or repurposed, meeting ADA  compliance will be included in Project Costs.  Funding for  program expansion will be needed (General Fund sources).  The City has an adopted policy, as required by Federal Law,  that it will make reasonable accommodations and  modifications to ensure that people with disabilities have an  equal opportunity to enjoy its programs, services, and  activities. The City does not maintain a reserve for these  modifications. No change.There are currently no changes to the ADA plan.   Sidewalk Maintenance &  Masterplan Currently, new sidewalks are built as development occurs.   Repairs are funded as needed or if funding is available,  when major roads are repaired.  Useful life of a sidewalk is  estimated at 40 to 50 years. The largest revenue source  comes from the City’s General Fund, but there has been  some debt funding as well.  Debt funded projects:  Old Town NE Sidewalk – Approval has been  received from TCEQ. Design is completed.  All easements have been  secured. Bid opening held on July 16th. GTAB approved award to  Choice Builders on August 9th. City Council will consider award on  August 27th 2019. Austin Ave Sidewalks (Leander to Hwy 29) –  Patin Construction has installed all sidewalk and pedestrian ramps  throughout the project. Contractor is completing steel plate work in  3 areas and working to have pedestrian activated signs installed at  16th and Austin Ave. All striping work is being scheduled. Debt funded projects:  Old Town NE Sidewalk – GTAB approved  award to Choice Builders on August 9th. City Council approved  award on August 27th 2019. Notice to proceed issued for 10‐7‐19,  groundbreaking held on 10‐8‐19. Contractor has begun working on  the est end of the project near Southwestern University.  Austin Ave  Sidewalks (Leander to Hwy 29) – Patin Construction has installed all  sidewalk and pedestrian ramps throughout the project. Striping  work and pedestrian signs are in place. Contractor addressing  punch list and TDLR review items in October. Project to close out  end of October to Mid November. Park Equipment Maintenance  & Replacement Over the past 5 years, funding for Park Maintenance and  Replacement has increased.  $200K transfer from General  Fund included in FY2018 budget.  Staff has listed all assets &  developed replacement schedule funded by the General  Fund. Projects in the FY 19 budget continue to be underway.  There is an  increase of $97,000 proposed for the FY 20 budget to help fund the  projects identified for 2020. Asset replacement needs for FY20 totaled $394K.  Funding was  received through the budget process for $297K leading to $97K  being deferred to a future year.   Radio Equipment Replacement Communication system consisting of 500 on‐body and in‐ vehicle radios for Police, Fire, parks and utilities.  Replacement radios are compatible with newer technology.   The replacement takes place over 5 years due to cost and is  funded with certificate of obligation debt.  Radios ordered on 7/17/19. On 8/12 and 8/13, we received three  pallets of radio equipment. Asset management process has begun.  The T1 to Ethernet conversion is scheduled to be completed by  9/15. NICE Recording Solution has a longer implementation process.  The goal is to have the installation completed by 12/31/19.   The first payment of $867,334.90 is being made October 17th.  The  FY2020 budget includes $129,000 for year 4 of the project.  65Page 70 of 142 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 6/30/19 Status Updates ‐ 9/30/19 Street Maintenance The City funds street maintenance in the General Fund,  supplemented by a 1/8th Street Sales Tax special revenue  fund. In 2017 and 2018, the Council and GTAB reviewed  various methods for enhanced street maintenance and  costs. Direction from Council is to use high performance  surface seals and pavement wearing courses and begin  programmatically addressing the street network's deferred  maintenance backlog, creating a need for approximately $2  million more per year for street maintenance. The Hot In Place Asphalt recycling is currently on‐going in the Old  Town Area should be complete next week, then the Hot In Place  Asphalt recycling will move out to Berry Creek.   In regards to the  High Performance Sealant Projects, application of the sealant has  started in University Park and Raintree Subdivisions.  The contractor  should start in Sun City on Monday, August 19th and then  application of the sealant will begin the 1st week of September in  Georgetown Village.  Hot In Place Recycling (HIPR) is scheduled for Berry creek  Subdivision and Park View estates in FY 2020. High Performance  Surface Seal is scheduled for Sun City, Park View Estates  subdivisions and areas near San Gabriel Park FY 2020. 66Page 71 of 142 FY2019 Annual Budget Fourth Quarter Report Page 72 of 142 FY2019 Annual Budget General Fund Revenues •General Fund revenues total $71.4 million, or 100.9% of budget. •During the Budget process, staff projected this segment of revenue to finish at $71.2 million, a variance from actuals of 0.35%. Page 73 of 142 FY2019 Annual Budget General Fund Sales Tax •The sales tax revenue represents 22% of budgeted revenue. •Through the fiscal year sales tax revenue totals $16.6 million or 104.1% of budget. •Projected this segment of revenue to finish at $16.7 million, a variance from actuals of -0.9%. Page 74 of 142 FY2019 Annual Budget General Fund Sales Tax History 13,595,005 14,827,612 16,581,705 10,000,000 11,000,000 12,000,000 13,000,000 14,000,000 15,000,000 16,000,000 17,000,000 18,000,000 19,000,000 20,000,000 General Fund Sales Tax FY2017 FY2018 FY2019 Page 75 of 142 FY2019 Annual Budget Property Tax •Property tax represents 20% of the general fund revenues. •Through the fiscal year property tax revenue totals $13.8 million or 99.6% of budget. •Projected to finish at $13.88 million, a variance from actuals of 0.6%. Page 76 of 142 FY2019 Annual Budget Development Revenue •Development related revenue represents 5% of budget. •Through the fiscal year development revenue totals $4.15 million or 125.5% of budget. •Projected this segment of revenue to finish at $3.72 million, a variance from actuals of 11.4%. Page 77 of 142 FY2019 Annual Budget Building Permits - 20 40 60 80 100 120 140 160 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2015 2016 2017 2018 2019 Page 78 of 142 FY2019 Annual Budget Fire/EMS Revenue •This revenue group represents 10% of the general fund. •It is comprised of ESD 8 Contract ($3.5 M), EMS transport revenue ($2.6 M), and SAFER & TASPP grants ($826,000) •FY2019 finished at $7.05 million, or 101.9% of budget. •Projected $6.88 million in the Budget process, a variance of 2.5%. Page 79 of 142 FY2019 Annual Budget Return on Investment (ROI) •Revenue represents 11% of total general fund revenues. •Comprised of a transfer from the Electric, Water, and Stormwater funds. •Finished FY2019 at $7.3 million, or 94.7% –Cap on Electric ROI •Projected to end FY2019 at $7.2 million, a variance from actuals of 1.2%. –Higher Water Sales. Page 80 of 142 FY2019 Annual Budget Franchise Fees Projections •Franchise Fees represent 7% of the general fund revenues. •The City collects franchise fees on electric, water, cable TV, gas, telephone (land lines), stormwater, and irrigation. •Through the fiscal year franchise fee revenue totals $5.64 million or 103.9% of budget. •Projected this segment of revenue to finish at $5.6 million, a variance from actuals of 1%. Page 81 of 142 FY2019 Annual Budget General Fund Park and Rec Fees •Park and Rec fees represent 4% of the general fund revenues. •Through the fiscal year parks and rec fee revenue totals $2.68 million or 90.15% of budget. •Projected this segment of revenue to finish at $2.7 million, a variance from actuals of -1.5%. Page 82 of 142 FY2019 Annual Budget General Fund Revenues Summary •Overall, revenues finished within 0.35% of projections, $245,826 higher the projected. •The two largest streams of revenue property tax and sales finished less than with 1% of projections. •Development related revenue was 11.4% variance due to continued growth. Page 83 of 142 FY2019 Annual Budget General Fund Expenses •Expenses total $68.8 million, or 97% of budget. •Projected total expenses to finish at $70.6 million, a variance from actuals of 2.8%. –The largest savings were in the streets department and the Fire division. –Traffic Impact Analysis (TIA) and Annexation savings in Planning Page 84 of 142 FY2019 Annual Budget FY2019 Budget FY2019 Actuals % of FY2019 Budget FY2018 Budget FY2018 Actuals % of FY2018 Budget Expenditure Administrative Services Personnel Expense 1,967,951 2,002,556 101.8%1,900,756 1,869,331 98.3% Operations Expense 671,827 573,246 85.3%712,883 602,235 84.5% Administrative Services Total 2,639,778 2,575,802 97.6%2,613,639 2,471,566 94.6% Community Services and Finance Personnel Expense 7,146,124 6,983,468 97.7%6,730,047 6,440,178 95.7% Operations Expense 5,288,877 4,854,380 91.8%4,910,503 4,738,082 96.5% Community Services and Finance Total 12,435,001 11,837,848 95.2%11,640,550 11,178,260 96.0% Development & Planning Personnel Expense 2,308,625 2,194,687 95.1%2,164,868 2,032,490 93.9% Operations Expense 714,668 412,273 57.7%731,484 738,174 100.9% Development & Planning Total 3,023,293 2,606,961 86.2%2,896,352 2,770,664 95.7% Fire Services* Personnel Expense 15,104,380 14,516,204 96.1%12,686,454 12,724,663 100.3% Operations Expense 3,632,363 3,572,437 98.4%3,430,316 3,206,249 93.5% Fire Services Total 18,736,742 18,088,642 96.5%16,116,770 15,930,912 98.8% General Gov't Contracts Personnel Expense (1,145,000) - 0.0%(750,000) - 0.0% Operations Expense 4,575,401 4,384,232 95.8%4,003,786 4,015,619 100.3% General Gov't Contracts Total 3,430,401 4,384,232 127.8%3,253,786 4,015,619 123.4% Public Works Personnel Expense 1,875,598 1,739,166 92.7%1,860,648 1,618,211 87.0% Operations Expense 10,275,620 9,772,322 95.1%9,414,929 9,189,348 97.6% GUS Total 12,151,218 11,511,487 94.7%11,275,577 10,807,559 95.8% Police Services Personnel Expense 12,502,781 12,510,831 100.1%12,082,813 12,139,194 100.5% Operations Expense 3,657,400 3,537,481 96.7%3,449,346 3,395,282 98.4% Police Services Total 16,160,181 16,048,312 99.3%15,532,159 15,534,476 100.0% Expense Total 68,576,615 67,053,283 97.8%63,328,832 62,709,056 99.0% *Fire Services Division includes EMS Fund. Page 85 of 142 FY2019 Annual Budget General Fund Summary The FY2020 beginning fund balance is budgeted at $11.5 million. If FY2019 funds are rolled forward in the Dec. amendment, the amount transferred to the Council Fund would adjust. Staff will bring back the transfer to the Council Fund after the Roll Forward Amendment and Year-End Audit are complete. Projected Actuals Variance Beginning Balance 10,946,800 10,946,800 - Revenues 71,187,825 71,433,651 245,826 Expenses 70,643,726 68,846,048 (1,797,678) Ending Balance 11,490,899 13,534,403 2,043,504 Page 86 of 142 FY2019 Annual Budget Electric Fund Revenues •Operating revenue in the Electric Fund totals $85.7 million through the fiscal year, or 101.4% of budget and 0.33% projections. •Electric revenue sales, the largest component of operating revenue, totals $80.2 million. –The Power Cost Adjustment increase occurred in February and June. •Other revenues, which is comprised of the AMR allocation, developer contributions, and other components, totals $5.3 million. Page 87 of 142 FY2019 Annual Budget Electric Fund Expenses •Operating expenses in the Electric Fund total $78.4 million through the quarter. –Purchase power expenses total $58.5 million. –While congestion revenue rights (CRRs) credits total - $2.8 million. –Net purchase power totals $55.6 million, which is $5.45 million higher than budgeted or 10.8%. •Congestion and curtailment •Late summer price spikes •Corrected accounting accruals process to improve the matching of revenues and expenses. Page 88 of 142 FY2019 Annual Budget Electric Amendment •Staff is proposing several amendments to the Electric Fund –both in revenues and expenses. •The next item on the agenda will be a detailed explanation of these proposed amendments. •The budget column in the fund schedule does not reflect these proposed changes as they have not been approved by Council. •The Year-To -Date column is shown as though these amendments have been approved. Page 89 of 142 FY2019 Annual Budget Electric Amendment •Adjust purchased power and CRRs ($5.4 M) •Sell assets –Fiber network installed from 2003 to 2011 to the IT fund ($645K -Multi-year process) –Land to the Fleet Fund ($481K) –Electric’s share of the Westside Service Center ($356K) –Renewable Energy Credits in the amount of ($722K) •Increase the transfer from the South Georgetown TIRZ for capital infrastructure investment from previous fiscal years. ($85K) Page 90 of 142 FY2019 Annual Budget Electric Amendment •Recognizing additional utility revenue ($1.2M) •Reduce operating expenses ($440K) •Reduce the Return on Investment transfer to the General Fund ($500K) •Not moving forward with Bloomberg Grant ($100K) •Reduce capital expenses by ($160K) •Reimburse debt expenses for Westside Service Center ($775K) and reduce remaining debt liability ($1.5 million) Page 91 of 142 FY2019 Annual Budget Electric Summary Projected Actuals Variance Beginning Fund Balance 2,103,922 2,103,922 - Revenues 89,171,943 90,100,404 928,461 Expenses 86,336,198 85,870,914 (465,284) Ending Fund Balance 4,939,667 6,333,412 1,393,745 Contingency 4,082,999 4,082,999 - Rate Stabilization 856,668 2,250,413 1,393,745 Available Fund Balance --- Page 92 of 142 FY2019 Annual Budget Water Fund •Overall water operating revenue totals $67.8 million, or 113.6% of budget. –Higher than projected water sales. A positive impact on ROI and Franchise Fees in the General Fund. •Capital Recovery Fees finished FY2019 higher than budget and higher than projected. Over the last three fiscal years, the City has seen strong growth in this revenue stream. •There were no non-operating revenues (bond proceeds) in the water fund in FY2019. Page 93 of 142 FY2019 Annual Budget Water Fund •Water operating expenses total $37 million, or 99% of budget. •Non-operating expenses total $37.4 million. –The Capital Improvement budget in the Water Fund totals $85.66 million. Staff will be bringing forward a CIP rollforward amendment in December to move funds unspent in FY2019 into the FY2020 Budget –Projects such as the Berry Creek Interceptor and Lake Water Treatment Plant. •The debt service actuals for FY2019 exceed budget due to the reimbursement of debt principal and interest payment made by Electric for Westside Service Center. Page 94 of 142 FY2019 Annual Budget Water Fund Summary Projected Actuals Variance Beginning Fund Balance 89,128,534 89,128,534 - Revenues 63,079,016 67,878,047 4,799,031 Expenses 84,691,071 74,495,412 (10,195,659) Ending Fund Balance 67,516,479 82,511,169 14,994,690 90 Day Contingency 7,498,183 7,498,183 - Non-Operational Con. 9,500,000 9,500,000 - Bond Proceed Reserve 18,000,000 18,000,000 - Available Fund Balance 32,518,296 47,512,986 14,994,690 Page 95 of 142 FY2019 Annual Budget Water Fund and CIP •FY2020 Capital Improvement Plan –New Water Projects total $18.6 million. –New Wastewater Projects total $17 million. –$45 Million of FY2019 Water/Wastewater were pre-rolled in the FY2020 Budget process. –Staff will bring the FY2020 Rollforward Amendment in Dec with additional projects that were not rolled in the budget process. Page 96 of 142 FY2019 Annual Budget CVB Fund •Overall revenue in the fund totals $1.6 million, or 103.8% of budget. Hotel Occupancy Tax revenue totals $1.4 million, or 103.2 of budget. •Year to date expenses in the Convention & Visitors Bureau Fund total $1.3 million, or 98.6% of budget. •The fund finished FY2019 with a fund balance of $1.54 million and meets the 90-day operational reserve. Page 97 of 142 FY2019 Annual Budget CVB Summary Projected Actuals Variance Beginning Fund Balance 1,301,054 1,301,054 - Revenues 1,480,783 1,572,742 91,959 Expenses 1,334,693 1,334,045 ( 648) Ending Fund Balance 1,447,144 1,539,751 92,607 90 Day Contingency 271,189 271,189 - Reserved for Capital 1,061,680 1,061,680 - Available Fund Balance 114,275 206,882 92,607 Page 98 of 142 FY2019 Annual Budget Airport Fund •Airport operating revenue totals $3.4 million, which represents 88.2% of budget. •Fuel Sales are less than Budget. The margin on fuel is fixed. With the depressed price on fuel, the City is selling gas at a lesser rate than budgeted. However, the cost of the fuel is also below the budgeted amount. Page 99 of 142 FY2019 Annual Budget Airport Fund •Operation expenses in the Airport fund total $3.05 million, or 86% of budget. •Non-operating expenses total $717,491. Staff will be bringing forward a CIP rollforward amendment in December to move capital funds unspent in FY2019 into the FY2020 Budget. Page 100 of 142 FY2019 Annual Budget Airport Fund Projected Actuals Variance Beginning Fund Balance 1,298,256 1,298,256 - Revenues 4,202,440 3,925,687 (276,753) Expenses 4,237,748 3,771,955 (465,793) Ending Fund Balance 1,262,948 1,451,988 189,040 90 Day Contingency 264,442 264,442 - Available Fund Balance 998,506 1,187,546 189,040 Page 101 of 142 FY2019 Annual Budget Investment Report 6/30/2019 9/30/2019 Total cash and investments $204,976,917 $178,882,868 Average Yield 2.50%2.29% 6/30/2019 9/30/2019 Total cash and investments $21,345,649 $20,551,884 Average Yield 2.50%2.31% 6/30/2019 9/30/2019 Total cash and investments $7,950,908 $8,248,890 Average Yield 2.43%2.15% CITY GEDCO GTEC Page 102 of 142 FY2019 Annual Budget Questions Page 103 of 142 City of Georgetown, Texas City Council Workshop N ovember 26, 2019 S UBJEC T: P resentation and discussion regarding the F Y201 9 Ye ar-End Budget Amendment --P aul Diaz, Budget M anager I T E M S UMMARY: This item co rre spo nds with the amendment on the legislative session, as well as the Fourth Quarter Report o n the workshop sessio n. Each year staff e stimate revenue and expense year-end projectio ns compared to the annual budget. The following summarizes the budget changes by fund and de partment required to co mply with the City Charter. Detailed information is included in the attached Exhibit A. Electric Fund • Electric expenditures exceed budget due to higher than projected purchase po wer c osts from transmission congestion, late summer spikes in market pricing, and change in invoice accruals. The ne t of purchase d power and Congestion Revenue Rights exceed budget by $5.4 million. • Operating Reve nue o Additional re venue fro m energy sales to custome rs and penalty charges, $1.2 million • Operating Expe nse o Increase expe nse appropriation for purchased powe r, $5.2 million o Decrease credit fo r CRRs, $178 K o Decrease Return on Investment to the General Fund, $50 0 K o Reduce operating expense s throughout the fund by $440,251, including realloc ating the co sts of co nservation pro grams to the Water Fund • Non-Operating Revenue o Reduce $100 ,00 0 fo r the Bloomberg Grant o Reimburseme nt fro m the Water Fund for Electric po rtion o f Westside Service Ce nter share o f asset, $356,895 o Recognize reve nue for the remaining liability of the Westside Service Center debt, $1 .5 million o Recognized sale of land o n FM 1460, $481,927 o Recognize sale of the fiber network, $645,045 o Renewable Ene rgy Credits, $722,381 o South George to wn TIR Z infrastructure reimbursement, $85 ,405 increase over mid-year projection • Non-Operating Expense o Reduce capital expenses by $159,842 o Reduce interest and principal expense by $305,234 and $470,00 0 respectively, fo r previo usly paid debt service for the Westside Servic e Ce nter. • Additional discussion o f purc hased powe r and measures taken in the Electric Fund are available in the Fourth Quarter Financial Report available o n the Council Workshop agenda fo r November 26th meeting. Water Fund • Operating Reve nue o Recognize additional revenue in the amount of $8 .1 million from sales to customers, charges to customers, and development fe e s • Non-Operating Expense o Increase expe nse appro priation by $528,000 for re allo catio n of costs of conservatio n pro grams that primarily benefit water use o Increase expense appropriatio ns related to the We stside Service Center, a fac ility which primarily has se rved and will continue to serve water utility customers o $356,895 to buy o ut Electric’s share of the We stside Service Center facility asse t o $775,000 to reimburse Electric for prior debt se rvice principal and interest payme nts on the Westside Service Ce nter o $1.5 million to assume the remaining long-term debt liability for the Westside Service Center Page 104 of 142 Fleet Fund • Expense o Increase to capital appropriation of $4 81 ,92 7 to purchase a vacant lot on FM 1460 fro m the Electric fund for the ne w vehicle services c e nter identified in the facilities asse ssment. Information Techno lo gy Fund • Revenue o Recognize $45 ,58 2 in interest revenue. • Expense o Increase to capital appropriation of $645,045 to purchase a portion of the City’s fiber netwo rk that se rves all City departments from the Electric fund. Staff will develop a multi-year plan to fully transfer the asset to IT Fund and allocate back operations and maintenance costs to all using funds. South Georgetown TIRZ • Revenue o Recognize $80 ,29 5 in property tax revenue o Recognize $5,11 0 in interest • Expense o Increase o f transfer out of fund balance by $85,405 to the Electric fund for reimbursement o f infrastruc ture investments in the TIRZ. Rivery TIR Z • Revenue o Recognize revenue from inte re st earned and the partnership with the County in the amount of $2 ,16 9 and $41 ,20 6 respectively. • Expense o Increase in appropriatio n of $817 for debt handling fees related to the principal and interest payments in the Fund. P E G Fund • Revenue o Recognize an increase in P EG Fee revenue and inte rest earned in the amount of $6,9 33 and $1,441. • Expense o Increase in appropriatio n of $422 for purchase o f minor capital equipment for co mmunications. Transportation Fund • Revenue o Reduce revenue by $51 ,68 3 • Expense o Increase in appro priation o f $10,820 for expenses to close out the first phase o f the Southwest Bypass project. We are working with the County to collect the receivable and close out this special revenue fund. The City Charter requires that a majority plus o ne must appro ve an amendment to the approved budget. The City charter allows fo r budget amendments in e mergency situations and when the issues and ne e ds were unknown at the time the budget was adopte d. F I NANC I AL IMPAC T: The proposed budge t amendment increases total appropriatio ns by $8,030,439 using re venues and available balance in several funds. S UBMI T T ED BY: P aul Diaz, Budge t Manager AT TAC HMENT S : Description P resentatio n Exhibit A Page 105 of 142 FY2019 Annual Budget Year End Budget Amendment Page 106 of 142 FY2019 Annual Budget Electric Fund •Operating Revenue –Recognize an additional $1.2M in operating revenue primarily from energy sales. •Operating Expense –Increase the purchase power budget by $5.2 million and decrease the CRR Credits by $178K. –Recognize operational savings in the amount of $440,251, primarily from reallocating costs of conservation programs. –Reducing the ROI to the General Fund by $500,000. Page 107 of 142 FY2019 Annual Budget Electric Fund •Non-Operating Revenue –Reduction in grant revenue of $100,000 from not moving forward with the Bloomberg Grant. –Sell land owned by the Electric fund to the Fleet Fund for $481,927. The land will be the site of the new Fleet Service Center. –Water Fund purchase the Electric Fund’s portion of the Westside Service Center. The amendment includes: •$1.5M of revenue to offset the remaining debt liability •Reimbursement for the cash portion of the construction of the Westside Service Center for $356,894 Page 108 of 142 FY2019 Annual Budget Electric Fund •Non-Operating Revenue –Increase the transfer amount from the South Georgetown TIRZ Fund to the Electric Fund by an additional $85,405 for capital infrastructure investment. –Sell a portion of the fiber network to the IT Fund in the amount of $645K –Recognize Renewable Energy Credits sales totaling $722K. •Non-Operating Expense –Reduction in CIP expense of $160K –Reimbursement for prior debt service on Westside Service Center $775K Page 109 of 142 FY2019 Annual Budget Electric Summary Projected Actuals Variance Beginning Fund Balance 2,103,922 2,103,922 - Revenues 89,171,943 90,100,404 928,461 Expenses 86,336,198 85,870,914 (465,284) Ending Fund Balance 4,939,667 6,333,412 1,393,745 Contingency 4,082,999 4,082,999 - Rate Stabilization 856,668 2,250,413 1,393,745 Available Fund Balance --- Page 110 of 142 FY2019 Annual Budget Water Fund •Operating Revenue –Recognize $8.1M in operating revenue. Additional revenue primarily from the sale of water, capital recovery fees, and interest. •Non-Operating Expenditures –Purchase the Electric Fund’s portion of the Westside Service Center. •$1.5M transfer out to the Electric Fund for to cover remaining debt liability. •$365,895 transfer out to the Electric Fund for the cash portion previously paid by Electric for the Westside Service Center. •Reimbursement of $470,000 of principal, and $305,234 of interest, previously paid by the Electric Fund. •Appropriate $528,000 for the reallocation of conservation program costs that primarily impact water use. Page 111 of 142 FY2019 Annual Budget Internal Service Funds •Fleet Fund –Corresponding amendment to buy land on FM1460 from Electric for a future vehicle services center, $481K •Information Technology Fund –Corresponding amendment to buy a portion of the fiber network owned and operated by Electric. This transaction would purchase all the fiber infrastructure installed by electric from 2003 to 2011 at a cost of $645,045. –Develop multi-year plan to purchase remainder of asset and allocate back operations and maintenance costs to using departments. Page 112 of 142 FY2019 Annual Budget Other Funds •Rivery TIRZ Fund: recognize $43,375 of additional revenue and appropriate $817 of debt service handling fees. •South Georgetown TIRZ Fund: Corresponding amendment to recognize $85,405 of additional revenue from ad valorem taxes and allocated interest.Staff is proposing to transfer the additional revenue to Fund 610 –Electric for reimbursement of capital improvement. Page 113 of 142 FY2019 Annual Budget Other Funds •PEG Fee: recognize $8,374 of additional PEG Fee revenue to offset expense overages of $422 for communications equipment. •Transportation: Expense an additional $10,820 that was not budgeted in 2019 for the Southwest Bypass Project phase that was in partnership with the County. The City is working with the County to recover the receivable for completed work and then will close out the fund. Page 114 of 142 FY2019 Annual Budget Questions Page 115 of 142 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 610 - Electric FundBeginning Fund Balance 2,103,922$ -$ 2,103,922$ Operating RevenuesCurrent Operating Revenue 84,467,333$ 1,210,474$ 85,677,807$ Total Operating Revenues 84,467,333$ 1,210,474$ 85,677,807$ Operating ExpensesCurrent Operating Expenses 19,337,779$ (440,251)$ 18,897,528$ CRR Credits (3,000,000)$ 178,241$ (2,821,759)$ Purchased Power 53,185,477$ 5,280,082$ 58,465,559$ Transfer Out - ROI 4,325,000$ (500,000)$ 3,825,000$ Total Operating Expenses 73,848,256$ 4,518,072$ 78,366,328$ Non-Operating RevenuesGrant Revenue 100,000$ (100,000)$ -$ Transfer In 548,104$ 1,647,905$ 2,196,009$ Sale of Assets - Scrap material 10,000$ 10,340$ 20,340$ Sale of Asset - Fleet -$ 481,927$ 481,927$ Sale of Asset - WSSC -$ 356,895$ 356,895$ Sale of Asset - Fiber -$ 645,045$ 645,045$ Renewable Energy Credits -$ 722,381$ 722,381$ Total Non-Operating Revenues 658,104$ 3,764,493$ 4,422,597$ Non-Operating Expenses CIP 4,017,007$ (159,842)$ 3,857,165$ Current Debt Service 4,422,155$ 500$ 4,422,655$ Interest Expense - Reimbursement from Water -$ (305,234)$ (305,234)$ Principal Expense - Reimbursement from Water -$ (470,000)$ (470,000)$ Total Non-Operating Expenses 8,439,162$ (934,576)$ 7,504,586$ Ending Fund Balance 4,941,941$ 1,391,471$ 6,333,412$ Rate Stabilization 147,079$ 2,103,334$ 2,250,413$ Contingency 4,082,999$ -$ 4,082,999$ Available Fund Balance 711,863$ (711,863)$ -$ 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 263 - PEG Fund Beginning Fund Balance -$ 17,653$ 17,653$ Revenues PEG Fee Revenue 160,000$ 6,933$ 166,933$ Interest -$ 1,441$ 1,441$ Total Revenues 160,000$ 8,374$ 168,374$ Expenses PEG Fee Expenditure 20,000$ 422$ 20,422$ Total Expenses 20,000$ 422$ 20,422$ Ending Fund Balance 140,000$ 25,605$ 165,605$ Available Fund Balance 140,000$ 25,605$ 165,605$ Exhibit A - Budget Amendment There are several proposed amendments in the Electric Fund both on the revenue and expense accounts. The purchased power budget must be amended to $58,465,559 and the CRR Credits be amended to $-2,821,759. This is a result of increased costs for purchase power and transmission of purchased power. The following actions mitigate these increased costs. First, staff proposes to sell land owned by the Electric fund to the Fleet Fund. This site on FM1460 will be the future home of the Fleet Services Shop identified in the facilities study. The land sale totals $481,927. There is a corresponding amendment in the Fleet Fund. Next, staff proposes the Water Fund purchase the Electric Fund’s portion of the Westside Service Center as well as reimburse the debt service payments made for the facility in the past. The purchase of the building totals $356,895, while the previously paid debt service principal and interest totaled $470,000 and $305,234 respectively. The Water Fund will also assume the remaining liability on the facility, shown as $1,562,500 under non-operating transfers in. The third proposed amendment is to increase the transfer amount from the South Georgetown TIRZ Fund tot the Electric Fund by an additional $85,405 for capital infrastructure investment from previous fiscal years. This is also under non-operating transfer in. Fourth, the amendment proposes selling a portion of the City's fiber network owned and operated by Electric to the IT Fund for $645K. A multi-year plan will be developed to sell the remainder to IT and allocate costs to all using departments. Other amendments include recognizing utility revenue ($1.2M), decreasing operating expenses ($440K), decreasing the Return on Investment transfer to the General Fund ($500K), recognizing not moving forward with the Bloomberg Grant ($100K), selling Renewable Energy Credits in the amount of $722K, selling scrap material for an additional $10K, increasing debt service expense by $500 to account for handling fees, and decreasing capital project expense by $160K. The proposed amendment in this fund is to recognize additional available beginning fund balance from FY2018, and $8,374 of additional PEG Fee revenue of $6,933 and interest of $1,441 to offset expense overages that total $422 for minor communications equipment. Page 116 of 142 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 294 - Rivery TIRZ Fund Beginning Fund Balance 209,626$ 5,200$ 214,826$ Revenues Tax Revenue 375,981$ -$ 375,981$ County Partnership 275,000$ 41,206$ 316,206$ Interest 1,500$ 2,169$ 3,669$ Total Revenues 652,481$ 43,375$ 695,856$ Expenses Transfer for Debt Service 591,768$ 817$ 592,585$ Total Expenses 591,768$ 817$ 592,585$ Ending Fund Balance 270,339$ 47,758$ 318,097$ Available Fund Balance 270,339$ 47,758$ 318,097$ 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 281 - Transportation Fund Beginning Fund Balance (83,188)$ 63,295$ (19,893)$ Revenues County Reimbursement 83,188$ (51,683)$ 31,505$ Total Revenues 83,188$ (51,683)$ 31,505$ Expenses Southwest Bypass Project -$ 10,820$ 10,820$ Total Expenses -$ 10,820$ 10,820$ Ending Fund Balance -$ 792$ 792$ Available Fund Balance -$ 792$ 792$ The proposed amendment in this fund is to recognize additional $5,200 of available beginning balance from FY2018, and $43,375 of additional revenue to offset $817 of debt service charges that should have been included in the original FY2019 Budget. This fund serves as a special revenue pass through for the part of the Southwest Bypass Project in partnership with the County. To close out the project, staff expensed an additional $10,820 that was not budgeted in 2019. The City is working with the County to recover the receivable for completed work and then will close out the fund. Any remaining fund balance will be moved into the General Capital Projects fund with the rest of the phases of the Southwest Bypass project. Page 117 of 142 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 296 South Georgetown TIRZ Fund Beginning Fund Balance 237,186$ -$ 237,186$ Revenues Property Tax 309,418$ 80,295$ 389,713$ Interest 1,500$ 5,110$ 6,610$ Total Revenues 310,918$ 85,405$ 396,323$ Expenses Transfers 548,104$ 85,405$ 633,509$ Total Expenses 548,104$ 85,405$ 633,509$ Ending Fund Balance -$ -$ -$ 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 520 - Fleet Fund Beginning Fund Balance 4,760,280$ 28,736$ 4,789,016$ Revenues Current Fleet Revenue 6,238,717$ -$ 6,238,717$ Interest -$ -$ -$ Total Revenues 6,238,717$ -$ 6,238,717$ Expenses Current Fleet Expenses 6,714,072$ -$ 6,714,072$ Purchase of Land -$ 481,927$ 481,927$ Total Expenses 6,714,072$ 481,927$ 7,195,999$ Ending Fund Balance 4,284,925$ (453,191)$ 3,831,734$ Equipment Reserve 1,055,600$ -$ 1,055,600$ Contingency 479,322$ -$ 479,322$ Available Fund Balance 2,750,003$ (453,191)$ 2,296,812$ 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 570 - IT Fund Beginning Fund Balance 2,732,490$ -$ 2,732,490$ Revenues IT Fees 6,845,851$ -$ 6,845,851$ Transfers 115,000$ -$ 115,000$ Interest 6,000$ 45,582$ 51,582$ Total Revenues 6,966,851$ 45,582$ 7,012,433$ Expenses Personnel and Operations 6,546,619$ -$ 6,546,619$ Capital 706,450$ 645,045$ 1,351,495$ Transfers 376,500$ -$ 376,500$ Total Expenses 7,629,569$ 645,045$ 8,274,614$ Ending Fund Balance 2,069,772$ (599,463)$ 1,470,309$ Reserved for Capital 882,727$ -$ 882,727$ Contingency 543,744$ -$ 543,744$ Available Fund Balance 643,301$ (599,463)$ 43,838$ The proposed amendment in this fund is to recognize $85,405 of additional revenue from ad valorem taxes and allocated interest. Staff is proposing to transfer the additional revenue to the Electric Fund for reimbursement of capital improvement from previous fiscal years. At the mid-year amendment, a transfer of $548,104 was made to Electric also for capital reimbursement. This amendment is the corresponding transfer out from the Fleet Fund to the Electric Fund to purchase land on FM1460 for a future Fleet Services Shop identified in the facilities assessment. The amendment uses available fund balance in the Fleet Fund. The amendment recognizes additional interest earnings in the IT Fund. Staff is proposing selling a portion of the fiber network owned by Electric to the IT Fund. This transaction would purchase all the fiber infrastructure installed by electric from 2003 to 2011 at a cost of $645,045. In FY2020, staff will create a multi-year plan to transfer the remainder of the shared asset to the IT Fund and allocate back operating and maintenance expenses. Page 118 of 142 2019 Approved Budget Impact of This Action/CAFR Adjustment 2019 Amended Budget 660 - Water Fund Beginning Fund Balance 89,159,703$ (31,169)$ 89,128,534$ Operating Revenues Current Operating Revenue 59,719,104$ 8,158,943$ 67,878,047$ Total Operating Revenues 59,719,104$ 8,158,943$ 67,878,047$ Operating Expenses Current Operating Expenses 37,432,854$ -$ 37,432,854$ Total Operating Expenses 37,432,854$ -$ 37,432,854$ Non-Operating Revenues Current Non-Operating Revenues -$ -$ Total Non-Operating Revenues -$ -$ -$ Non-Operating Expenses Current Non-Operating Expense 91,918,051$ -$ 91,918,051$ Transfer Out - WSSC -$ 1,562,500$ 1,562,500$ Purchase of Asset - WSSC Cash Portion -$ 356,895$ 356,895$ Interest Expense - WSSC -$ 305,234$ 305,234$ Principal Expense - WSSC -$ 470,000$ 470,000$ Reallocation of Conservation -$ 527,878$ 527,878$ Total Non-Operating Expenses 91,918,051$ 3,222,507$ 95,140,558$ Ending Fund Balance 19,527,902$ 4,905,267$ 24,433,169$ Non-Operational Contingency 7,498,183$ -$ 7,498,183$ Contingency 9,500,000$ -$ 9,500,000$ Available Fund Balance 2,529,719$ 4,905,267$ 7,434,986$ Total Amended Expense Appropriation 8,030,439$ Staff is proposing the Water Fund purchase the Electric Fund’s portion of the Westside Service Center. The amendment to the Water Fund includes recognizing revenue in the amount of $8.2M for water sales to customers, charges to customers, and development fees. Expenses are amended to reimburse Electric $470,000 for previously paid principal and $305,234 in previously paid interest. Additionally, the Water Fund will reimburse the Electric Fund $356,895 for the cash portion used to construct the West Side Service Center. The proposed amendment transfers the remaining debt liability of $1.5M from the Electric Fund to the Water Fund. Finally, the conservation allocation is amended by $528K to recognize costs of conservation programs that primarily benefit water use. Page 119 of 142 City of Georgetown, Texas City Council Workshop N ovember 26, 2019 S UBJEC T: P resentation and discussion regarding Transportation Impact Fees -- Wesley Wright, P E, Systems Engineering Director I T E M S UMMARY: In early 2019, Council authorized a Task Order with Kimley Ho rn and Associates to assess the possibility of implementing a transpo rtation impact fee within the city. Over the summer, staff has wo rke d with Kimley Horn to provide background data (traffic counts, growth proje c tions, and potential future transportation projects) and the process is ready to move into the financial calculatio ns and public input stage. Today's presentation is intended to be a primer o n Transpo rtation Impact Fees and to detail the next steps as we mo ve to complete the study. F I NANC I AL IMPAC T: No direct cost asso c iated with this item. The overall financial impact will be discusse d as part of the presentation. S UBMI T T ED BY: Wesley Wright AT TAC HMENT S : Description Trans p o rtation F ees 101 P res entation Page 120 of 142 Transportation Funding Impact Fees 101 Policies to Deal with Growth November 26, 2019 Page 121 of 142 2 Rough Outline • Funding Needs • Growth • Why are these topic important for growing communities? • Theoretical Scenarios • Impact Fee Components • Feedback and Discussion Page 122 of 142 3 Transportation Funding • What are the funding needs? • Existing Need • Maintenance • Operations • Complete Reconstruction (Capital) • Growth Needs • Capital Page 123 of 142 4 Transportation Funding Page 124 of 142 5 Funding Options • Property Taxes • Bonds (GO/CO) • Transportation Utility Fee • TIRZ (Tax Increment Reinvestment Zone) • TRZ (Transportation Reinvestment Zone) • Developer Agreements (380 Agreement) • PID (Public Improvement District) • MUD (Municipal Utility District) • Traffic Impact Analysis (TIAs) •Impact Fee / Rough Proportionality RED = GROWTH RELATED BLACK = EXISTING Page 125 of 142 6 Transportation Funding • Why is this important for growth? • Infrastructure costs greatly exceed traditional tax and fee collection rates in fast-growing cities • New York City Example: 1% vs. 10% Growth • Federal / State funding no longer keeps up with need • Funding mechanisms for infrastructure (especially transportation) are limited in Texas • ‘Growth should pay for Growth’ is logical & reasonable Page 126 of 142 7 Theoretical Scenarios 4 Lane Divided (ultim ate) 2 3 4 6 1 Proposed 4 Lane Section5 2 Lane Asphalt (Ultimate 6 Lane section) 1,200’ 2,000’1,300’300’ 1,700’ 3,500’ 250 Homes 50,000 ft2 Retail 250 Homes 50,000 ft2 Retail 50 Homes 50 Homes 100 Homes 550 Homes 75,000 ft2 Retail Page 127 of 142 8 Current Practice • Traffic Impact Analysis – when a development is anticipated to generate more than 2,000 daily trips, a study is done to determine cost-share of improvements • Imperfect – “last person in” takes greater share • Takes time - typically 3-6 months to complete • No formal update process • Funds are constrained • Developer uncertainty in process • Received $2.6 Million last 20 years from TIAs Page 128 of 142 9 City Policy Decisions • Is there a better way to do this? • We need a system that is: •Predictable ; for the development community and City •Equitable; equal development should pay an equal fee •Transparent •Flexible ; funds collected need to be used to add capacity to the system, not sit in a bank or in a location where they aren’t needed •Legal; compliant with proportionality rules (Ch. 212 LGC) •Consistent with the City’s overall goals and objectives for growth – perhaps even encourage development where infrastructure already exists Page 129 of 142 10 Impact Fee Basics • What are they? • Mechanism to recover infrastructure costs required to serve future development • Governed by Chapter 395 of the Texas Local Government Code; Established in Texas in 1987 • Water, Wastewater, Roadway, and Drainage impact fees allowed in Texas • Other states may have school district, police, fire, parks, and/or library impact fees • Other municipalities adopted include: • Round Rock, New Braunfels • Other municipalities considering: • Austin, Buda Page 130 of 142 11 Impact Fee Components • Service Areas* • Land Use Assumptions • Service Units • Capital Improvements Plan • Maximum Fee Calculation • Initial Collection Rate • Policy Kimley-Horn Study Ordinance / Policy Decision (Always adjustable) *Draft Complete – Input Today’s Meeting Page 131 of 142 12 Impact Fee Components: Service Areas • Funds collected within a service area must be spent on projects within the same service area within 10 years • Water, Sewer (Service Area: Citywide) • Transportation - 6 mile trip length limit •Limited to Corporate Limits for roadways; Cannot include ETJ (TIA likely to remain in ETJ) • Fort Worth = 27 Areas; Fate = 1 Area • Georgetown – 9 Areas (3 may have $0 max fee) Page 132 of 142 13 Service Areas Page 133 of 142 14 Impact Fee Components: Land Use Assumptions •Will be consistent with Comp Plan • Establishes Infrastructure Demands and Master Plans • Population and Employment Projections • Aggressive vs. Non-aggressive Growth Rates • Calibrated with historical growth • Coordinate with Future Land Use Page 134 of 142 15 Impact Fee Components: Service Unit • Roadway utilizes vehicle miles - One vehicle to travel one mile • Based off of local travel lengths and ITE Trip Generation (covers wide array of land uses) • Water utilizes meter size, fixed route system Page 135 of 142 16 Impact Fee: Capital Improvements Plan* •Components that can be paid for through an impact fee program: ü Construction cost of capital improvements on the CIP §Roadway to thoroughfare standard §Traffic signals, bridges, sidewalks, etc. ü Survey and Engineering fees ü Land acquisition costs, including court awards ü Debt Service of impact fee CIP ü Study/Update Costs • Components that cannot be paid for through an impact fee program: 6 Projects not included in the CIP 6 Repair, operation and maintenance of existing or new facilities 6 Upgrades to serve existing development 6 Administrative costs of operating the program *Impact Fee CIP is different from annual CIP City prepares Page 136 of 142 17 Impact Fee Components: Maximum Fee • New Service Units are derived from Land Use Assumptions (10-Year Growth) and Future Land Use Plan • Impact Fee Capital Improvements Plan based on the portion of the Master Thoroughfare Plan needed for future growth • Credits against impact fees due when a developer constructs or contributes to a thoroughfare facility • Dedication of Right-of-Way is not included in this •Impact Fee calculations must be updated at least every 5 years miles)-(vehicle UnitsServiceNew ($)CIP theofCosteRecoverabl UnitServicePerFeeImpactMax.= Page 137 of 142 18 Impact Fee Components: Collection Rate Page 138 of 142 19 Schedule Item Date Study Commissioned Winter 2019 80% Draft CIP Summer 2019 Impact Fee 101 Today Stakeholder Engagement Fall/Winter 2020 Public Hearing #1 – Study Assumptions Winter 2020 Public Hearing #2 – Ordinance Consideration Spring 2020 Page 139 of 142 20 Schedule – Stakeholder Engagement Item Date Stakeholder Meeting on Impact Fees 101 (min. 2) Winter 2019 / Spring 2020 P&Z Meeting Presentations Fall/Winter 2020 GTAB / IFAC Monthly Meetings Winter 2019 / Spring 2020 Public Hearing #1 – Study Assumptions Winter 2020 Public Hearing #2 – Ordinance Consideration Spring 2020 Page 140 of 142 21 What’s Next? • Action 1: Impact Fee Advisory Committee (IFAC) – Establish Committee • Chapter 395.058 provides the CIAC role and makeup (40% Development Community) • Current plan: GTAB plus some development community members • Item at December 10, 2019 Council meeting • Action 2: Comment on Service Areas Map Page 141 of 142 22 Service Areas Page 142 of 142