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HomeMy WebLinkAboutAgenda CC 12.08.2020 WorkshopN otice of M eet ing of the Governing B ody of the C ity of Georgetown, Texas D ecember 8 , 20 20 The G e orgetown City Council will meet on December 8, 2020 at 3:00 P M at Teleco nference 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. P lease c l ic k this U R L to joi n fr om a P C , M ac, i P ad, i P hone or A ndroid devi c e : https://ge orge towntx.zoom.us/j/97849899987? pwd=Y Wl 6cjE vT1 V B S XF sb T B W V F ZL bU V Z U T09 Webi nar I D : 978 4989 9987 P assc ode : 169711 De sc r iption: R egular ly sche dule d mee ting of the Ge or ge town C ity Counc i l for both Wor kshop and R e gul ar M e eti ng The Wor kshop wi ll star t at 3:00 p.m. and the We bi nar wi ll ope n at 2:30 p.m. O r joi n by phone dial: (346)248-7799 O R (669)900-6833 O R (253)215-8782 O R (301)715-8592 O R (312)626-6799 O R (929)205-6099 O R (8330548-0282 Toll F r e e 877 853 5257 O R (888)475-4499 O R (833)548-0276 Webi nar I D : 978 4989 9987 P assc ode : 169711 Citize n c omments ar e ac ce pte d in thr ee differ ent for mats: Submi t the fol lowing for m by 12:00 p.m. on the date of the me eting and the City S e c r etar y wi ll re ad your c omme nts into the r e c ording during the ite m that i s be i ng discussed – https://r e c ords.ge orge town.or g/F or ms/A ddr essC ounc i l Page 1 of 170 You may l og onto the mee ti ng, at the l ink above , and “r aise your hand” dur i ng the i tem. 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Soc ial Distanc ing wi ll be str ic tly e nfor ce d. A udie nc e c apac i ty is li mi ted to 41 atte nde e s. F ace masks are r e qui re d and will be pr ovi de d onsi te. Use of profanity, thr eate ning language , sl ander ous re mar ks or thr eats of harm ar e not al lowed and will re sul t in you being imme di ate l y re moved fr om the mee ti ng. If you have que sti ons or ne e d assistanc e, ple ase contac t the C ity Se cr e tar y’s offi ce at cs@ge or ge town.org or at 512-930-3651. Policy De ve lopme nt/Re vie w Workshop - A P re sentatio n and discussion regarding the creation of a P ublic Improve ment District (P ID) for the propo sed Bluffview Subdivisio n -- Seth Gipson, P M P M anager B 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 20 -- Nathan P arras, Assistant Finance Director C P re sentatio n and discussion regarding the FY2 020 Year-End Budget Amendment -- Nathan P arras, Assistant Finance Directo r D P re sentatio n and discussion regarding the update to the Downtown and Old Town Design Guidelines -- Britin Bostick, Downtown and Historic P lanner and Nat Waggo ner, Long Range P lanning Manager 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. E 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 Page 2 of 170 - Litigation Update - P E C Franchise Sec. 5 51 .07 2: Del i berati ons about Real P ro perty - Berry Creek Interceptor 1-3, P arcels 4 and 9 -15 -- Travis Baird, Re al Estate Services M anager 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 - Co mpetitive M atters -- Daniel Bethapudi, General Manager of the Ele ctric Utility Sec. 5 51 .07 4: P ersonnel M atters -City Attorney Check-in Adjournme nt 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 _________________, 2020, 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 3 of 170 City of Georgetown, Texas City Council Workshop D ecember 8, 2020 S UBJEC T: P resentation and discussion regarding the creation o f a P ublic Improvement District (P ID) for the proposed Bluffview Subdivision -- Seth Gipso n, P M P Manager I T E M S UMMARY: Council is being asked to provide direction and fe e dback on the creation of a new P ublic Improvement District (P ID) for the propo sed Bluffview Subdivisio n located o n the northe ast corner o f F M224 3 and Southwe st Bypass. The total proje c t covers 91.946 acres (68 acres within the P ID and an additio nal 23 acres of parkland outside the P ID) and will c ontain a variety of single-family and multi-family residential units, appro ximately 3 7 acre s of parkland and o pen space, and enhanced amenities such as trails and landscaping. Chris Whitworth, on behalf of Lamy 2243, Ltd., has approached the City to request a P ID to fund improvements to me e t community needs and suppo rt public infrastructure associated with an enhanced developme nt. In addition to using P ID funding to finance the project’s standard public utility and roadway infrastructure, P ID funding would be use d to construc t the most desirable enhanced features in the proposed development – a public trail co nne c tion from the subdivisio n to the future extension o f the San Gabriel Regional Trail and thence to nearby Lyndoch P ark (situate d east of the propo sed Bluffview Subdivision), and co nnections fro m internal trails within the developed part of the Bluffview Subdivision to the adjacent River Ridge Subdivision. The land in the pro posed P ID would have to be rezoned to allow the developer to pro vide additio nal ho using diversity. The planning department is currently processing a P UD zoning applicatio n for the property, which is scheduled to be considered by P &Z on December 5, 2 02 0, and by City Counc il on J anuary 12 and 26, 20 21. If a P UD zoning ordinance is passed that is consistent with the application, there will be two base zoning types to provide a mix of housing ranging from single-family attached to attached multi-family, whic h is intended to provide a variety of co mpatible housing choices transitio ning from the adjacent single family River Ridge neighborhood to the Southwest Bypass. Lastly, the proposed proje c t inc ludes a landscaped Shared U se P ath situated alongside the subdivision’s entry road. Staff has reviewe d the pro posal and finds the pro posal meets the intent of the City’s P ID P olicy. Should Council determine that the Bluffview development P ID proposal is co nsistent with the P ID P olicy factors, so me of the high-leve l next steps include: • City to review developer supplied financ ial feasibility study utilizing City’s Bond Counsel, Financial Advisor and Bo nd Underwriter • City staff and consultants to co ntinue ne gotiating and drafting needed resolutions, agreeme nts, plans, ordinances • City Council to ho ld a public hearing on P ID creation and then co nside r resolution approving creation of P ID • Council to ado pt an ordinance levying spe c ial P ID assessments and approving supporting plans and agreeme nts (e.g., Service and Assessment P lan, Asse ssment Roll, Development, Financing and Reimburseme nt Agreement, and similar) After the creation o f the Bluffview P ID and levying of P ID assessments, debt (reve nue bonds) will be issued after there is enough assessed value on the ground consistent with the City’s P ID P olicy (AV to lie n ratio equal to or greater than 4:1). Annual reve nue s fro m the P ID assessment are pledged to wards debt payments and to reimbursing the developer fo r constructing the P ID impro vements. F I NANC I AL IMPAC T: None at this time. S UBMI T T ED BY: Page 4 of 170 Seth Gipson, P M P Manager AT TAC HMENT S : Description Bluffview P I D O verview P res entation Page 5 of 170 City Manager’s Office Bluffview PID Proposal Presented by Seth Gipson, PMP Manager December 12, 2020 Page 6 of 170 City Manager’s Office Overview •Purpose of Presentation •Proposed Bluffview –Development Overview •PID Policy Evaluation –2030 Comprehensive Plan guidance –Developer –Development –Financial •Council Feedback and Direction •Next Steps Page 7 of 170 City Manager’s Office Purpose Staff is seeking Council’s feedback and direction on a proposed Public Improvement District (PID) for the Bluffview development. •Does Council support the creation of a PID for the Bluffview development? •Does Council support the financial terms, architectural standards, and the enhanced park, trails and open space improvements? Page 8 of 170 City Manager’s Office Bluffview Development Location –~91 acres at FM2243 and Southwest Bypass (northeast corner) Developer –Lamy 2243, Ltd. General Features –44.3 Acres -RS –22.6 Acres –MF-1 –~37 acres Parkland/Open Space Page 9 of 170 City Manager’s Office 2030 Comprehensive Plan •Goal 3: …fiscally responsible growth…, and provides for effective provision of public services and facilities. •Goal 6: …diverse housing options… •Goal 7: Maintain high quality infrastructure…and community facilities. •Goal 9: Maintain and add to the existing quality parks and recreation. •Policy LU.10 –Operationalized through the use of: Development Agreements Special Purpose Districts •Policy LU.14 –Use the subdivision process to ensure access to parks, open space. Page 10 of 170 City Manager’s Office PID Policy Compliance Evaluation – Developer Criteria Developer Thresholds: •Identity –Lamy 2243, Ltd. –Formed in 2013, based in Austin •Relevant Experience –Cross Creek Market: Mixed Use, Cedar Park, TX –Lake Creek Village: 112 acres, Austin, TX –Barton Creek West: 225 lots, Austin, TX •Financial capability –Agreed to front costs, receive reimbursement on completion Page 11 of 170 City Manager’s Office PID Policy Compliance Evaluation – Development Criteria Development Thresholds: •Exceed UDC standards? Yes. –UDC Parkland Dedication •UDC = 3 acres *Bluffview= 37 acres –Parkland Improvements •UDC = $302,000 *Bluffview = $1.15 million –Housing Diversity •UDC = None *Bluffview= 2 Zoning District Types –Architectural Standards •UDC = None *Bluffview= Required Page 12 of 170 City Manager’s Office PID Policy Compliance Evaluation – Development Criteria -Enhanced Parks •37 acres Parkland/Open Space •Enhanced Parkland Improvements •Parkland Entry Road •Trailhead Parking •Bluffview trail •Connection to regional trail •Estimated Cost = $1.15M Page 13 of 170 City Manager’s Office PID Policy Compliance Evaluation – Development Criteria -Enhanced Parks Page 14 of 170 City Manager’s Office PID Policy Compliance Evaluation – Development Criteria -Enhanced Parks Page 15 of 170 City Manager’s Office PID Policy Compliance Evaluation – Development Criteria -Enhanced Parks Page 16 of 170 City Manager’s Office PID Policy Compliance Evaluation –Development Criteria -Enhanced Housing Diversity 2 Zoning District Types –RS: 44.3 Acres –MF-1: 22.6 Acres RS -3 Lot Sizes –60’ wide SF –<50’ wide SF (max of 40% lots) –SF detached condominium (max. of 25% lots) MF-1 –Not to exceed 14 units/acre –Apartments, townhomes, condominiums, etc. Page 17 of 170 City Manager’s Office 2030 Housing Element -Subarea Profiles •Provides defined areas for more focused analysis •Groups areas of similar housing characteristics, as well as evaluating U.S. Census tract boundaries and elementary school boundaries •Establishes a baseline for understanding the existing conditions within the planning area (City + ETJ) •Serves as the basis for making policy recommendations (Summary found in Appendix Q of the 2030 Plan and full documents available at housing.Georgetown.org) Page 18 of 170 City Manager’s Office Subarea 12 –Bluffview PID Figure 129. Subarea 12 Boundaries WCAD 2018 Median Value: $494K WCAD 2018 AVG Value: $568K Page 19 of 170 City Manager’s Office PID Policy Compliance Evaluation –Development Criteria -Enhanced Architecture •PID Policy requires quality development that meets or exceeds intent of the design standards outlined in City Codes. •Special Purpose Districts (MUDs and PIDs) traditionally require masonry standards Page 20 of 170 City Manager’s Office PID Policy Compliance Evaluation – Financial Requirements Financial Thresholds: •PID Reimbursement sought for : –Offsite Wastewater Improvements –Park Access Drive –Bluffview Drive and Shared-use Path –Park Improvements –Administrative Costs (professional services fees, management fees, engineering, City fees, etc.) Page 21 of 170 City Manager’s Office PID Policy Compliance Evaluation – Financial Requirements Financial Thresholds: •POLICY: PID assessment ≤ $0.55 per $100 AV. PROJECT: $0.55 per $100 AV •POLICY Min. AV to lien ratio for PID Bonds = 4:1 PROJECT: 14.56:1 •POLICY Prepayment of assessments for MF Rental Units The developer may be requesting a deviation Page 22 of 170 City Manager’s Office PID Policy Compliance Evaluation – Financial Requirements Financial Thresholds: •POLICY: Max. PID Bond maturity = 25 yrs after issuance PROJECT: same; one issuance •POLICY: Max PID Bond Limit = actual costs (plus reserves, capitalized interest, financing costs) PROJECT: $6.4M PID funded ; $877,200 Developer funded Page 23 of 170 City Manager’s Office PID Policy Compliance Evaluation –PUD The Planning Dept. is currently processing the PUD for this development and below is the schedule its review. •12/15/2020 -Planning and Zoning Review •1/12/2021 –1st Reading City Council •1/26/2021 –2nd Reading City Council •February or later –City Council official action on PID formation Page 24 of 170 City Manager’s Office Council Feedback and Direction Staff is seeking Council’s feedback and direction on a proposed Public Improvement District (PID) for the Bluffivew development. •Does Council support the creation of a PID for the Bluffview development. •Does Council support the financial terms, architectural standards, and the enhanced park, trails and open space improvements? Page 25 of 170 City Manager’s Office Next Steps •City to review developer supplied financial feasibility study utilizing City’s Bond Counsel,Financial Advisor and Bond Underwriter •City staff and consultants to continue negotiating and drafting needed resolutions,agreements,plans,ordinances •City Council to hold a public hearing on PID creation and then consider resolution approving creation of PID •Council to adopt an ordinance levying special PID assessments and approving supporting plans and agreements (e.g.,Service and Assessment Plan,Assessment Roll,Development, Financing and Reimbursement Agreement,and similar) Page 26 of 170 City of Georgetown, Texas City Council Workshop D ecember 8, 2020 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, 2020 -- Nathan P arras, Assistant Finance Director I T E M S UMMARY: ITE M S U M M ARY: The Quarterly Financial Report to Council is attached. An executive summary is included to highlight variances in revenues and expenses fro m current year budget and projections in the major funds. Additionally, an o verview of the investment portfo lio as o f September 30, 2020 is inc luded. The Financial Report also includes schedules for the major funds, a summary o f grants, capital projects, and the List o f Lo ng-term Unfunded Liabilities. The investment activity and strategies described in the investment report are in co mpliance with the City’s Investme nt P olicy and state law. This report meets the quarte rly repo rting requirements mandated by the P ublic Funds Investment Act. There is a year-end budget amendme nt o n the workshop and legislative agenda for the December 8 th meeting to amend Fiscal Year 202 0 to reco gnize financial activity in the Fourth Quarter Report. Due to the ongoing acco unting activity and review, the repo rt will be posted on December 4, 2 020. F I NANC I AL IMPAC T: . S UBMI T T ED BY: Sharon P arker AT TAC HMENT S : Description F ourth Q uarter Bud get P resentatio n 4th Q tr F Y2020 R ep o rt Page 27 of 170 FY2020 Annual Budget FY2020 Fourth Quarter Report Council Dec 8, 2020 Page 28 of 170 FY2020 Annual Budget FY2020 Financial Condition •Fourth quarter report is Preliminary and Unaudited •All major funds are at or below budgeted expenses •Conservative forecasting has helped mitigate the impact of  unforeseen pressures from COVID‐19. •Evaluate overall financial conditions of funds. –City audit complete in January. –Look at reserve levels in major funds. Page 29 of 170 FY2020 Annual Budget General Fund Overall revenue in the General  Fund totals $79 million, or  103.6% of budget.  Year to date expenses in the  General Fund total $72.12  million, or 93.4% of budget.  Page 30 of 170 FY2020 Annual Budget General Fund Revenues •General Fund revenues total $79 million, or 103.6% of budget.  •During the Budget process, staff projected revenue to finish at  $76 million.   Page 31 of 170 FY2020 Annual Budget General Fund Sales Tax •The sales tax revenue represents 23% of budgeted revenue. •Through the fiscal year sales tax revenue totals $19.1 million or  107% of budget. •Staff projected this segment of revenue to finish at $17.9  million, a variance from actuals of 6.5%. Page 32 of 170 FY2020 Annual Budget General Fund Sales Tax History 13,595,005  14,827,612  16,581,705 19,108,465   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  FY2020 Page 33 of 170 FY2020 Annual Budget Property Tax •Property tax represents 20% of the general fund revenues.  •Through the fiscal year property tax revenue totals $15.1  million or 101.1% of budget. •Property tax was projected to finish at $14.9 million, a variance  from actuals of 1%. Page 34 of 170 FY2020 Annual Budget Development Revenue •Development related revenue represents 5% of budget. •Through the fiscal year development revenue totals $5.5 million  or 146% of budget. •Development related revenue was projected to finish at $4.5  million, a variance from actuals of 21.82%. Page 35 of 170 FY2020 Annual Budget Residential Building Permits  ‐  50  100  150  200  250  300 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2015 2016 2017 2018 2019 2020 Page 36 of 170 FY2020 Annual Budget Fire/EMS Revenue •This revenue group represents 9.4% of the general fund. •It is comprised of ESD 8 Contract ($3.7 M), EMS transport  revenue ($2.6 M), and SAFER & TASPP grants ($806,032) •FY2020 finished at $7.4 million, or 103% of budget. •Projected $6.8 million in the Budget process, a variance of 8%.  –Conservative EMS projections –Additional grant revenue Page 37 of 170 FY2020 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 FY2020 at $8.5 million, or 105.5% –Cap on Electric ROI •Projected to end FY2020 at $8.1 million, a variance from actuals  of 5.51%.  –Higher Water Sales.  Page 38 of 170 FY2020 Annual Budget Franchise Fees Projections •Franchise Fees represent 8% 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 $5.8  million or 97.4% of budget. •Projected this segment of revenue to finish at $5.9 million, a  variance from actuals of 2.61%. Page 39 of 170 FY2020 Annual Budget General Fund Park and Rec Fees •Park and Rec fees represent 3.7% of the general fund revenues.  •Through the fiscal year parks and rec fee revenue totals $1.5  million or 55% of budget. –Corresponding expense reductions were also implemented  due to cancelled programming •Projected this segment of revenue to finish at $1.47 million, a  variance from actuals of 5%. Page 40 of 170 FY2020 Annual Budget General Fund Revenues Summary •Overall, revenues finished within 4.3% of projections, $3.3  higher the projected. •The two largest streams of revenue property tax and sales  finished within 4% of projections.  •Development related revenue was 21.82% variance due to  continued growth.  –Significant one‐time revenue of $627,736. –Increase in residential permits and inspections. Page 41 of 170 FY2020 Annual Budget General Fund Expenses •Expenses total $72.1 million, or 93.4% of budget. •Projected total expenses to finish at $74.5 million, a variance  from actuals of 3.2%. Page 42 of 170 FY2020 Annual Budget General Fund Expenses •Various departments experienced significant savings on  expenditures.  Some savings such as equipment are eligible to  roll forward into FY2021.  Staff is working to identify these items  and will bring them to Council as part of the FY2021 CIP  Rollforward. Page 43 of 170 FY2020 Annual Budget General Fund Expenses •Fire Division ‐ $581,471 in personnel and operational savings. •Rec Programs ‐ $261,261 in operational savings due to the  impacts of COVID‐19 on recreational programs. •Public Works and Streets ‐ $441,738 of operational and capital  savings from the impact of COVID‐19.  Many of these items are  eligible to as part of the FY2021 Roll Forward Amendment •Police Administration ‐ $247,207 operational savings from  utilities and fuel. Page 44 of 170 FY2020 Annual Budget  FY2020  Budget   FY2020  Actuals  % of FY2020  Budget  FY2019  Budget   FY2019  Actuals  % of FY2019  Budget YTD Variance % Variance Expenditure Administrative Services Personnel Expense 2,190,818          2,106,733          96.2% 1,967,951          2,002,556          101.8% 104,177             5.2% Operations Expense 739,924             523,515             70.8% 671,827             573,246             85.3% (49,731)              ‐8.7% Administrative Services Total 2,930,742         2,630,249         89.7% 2,639,778         2,575,802         97.6% 54,447              2.1% Community Services and Finance Personnel Expense 8,859,056          8,041,458          90.8% 7,146,124          6,983,468          97.7% 1,057,990          15.1% Operations Expense 6,105,582          5,038,941          82.5% 5,288,877          4,854,380          91.8% 184,561             3.8% Community Services and Finance Total 14,964,638      13,080,399      87.4% 12,435,001      11,837,848      95.2% 1,242,551         10.5% Development & Planning Personnel Expense 2,446,509          2,348,105          96.0% 2,308,625          2,194,687          95.1% 153,417             7.0% Operations Expense 837,719             615,296             73.4% 714,668             412,273             57.7% 203,022             49.2% Development & Planning Total 3,284,228         2,963,400         90.2% 3,023,293         2,606,961         86.2% 356,440            13.7% Fire Services* Personnel Expense 16,051,814       15,477,595       96.4% 15,104,380       14,516,204       96.1% 961,391             6.6% Operations Expense 4,049,632          3,689,892          91.1% 3,632,363          3,572,437          98.4% 117,455             3.3% Fire Services Total 20,101,446      19,167,487      95.4% 18,736,742      18,088,642      96.5% 1,078,845         6.0% General Gov't Contracts Personnel Expense (1,200,000)        30                       0.0% (1,145,000)        ‐                     0.0% 30                       Operations Expense 4,643,750          4,202,610          90.5% 4,575,401          4,384,232          95.8% (181,621)            ‐4.1% General Gov't Contracts Total 3,443,750         4,202,640         122.0% 3,430,401         4,384,232         127.8% (181,592)           ‐4.1% Public Works and Environmental Services Personnel Expense 1,888,823          1,536,651          81.4% 1,875,598          1,739,166          92.7% (202,515)            ‐11.6% Operations Expense 11,555,613       10,726,734       92.8% 10,275,620       9,772,322          95.1% 954,412             9.8% Public Works and Environmental Services 13,444,436      12,263,384      91.2% 12,151,218      11,511,487      94.7% 751,897            6.5% Police Services Personnel Expense 12,733,919       12,528,970       98.4% 12,502,781       12,510,831       100.1% 18,139               0.1% Operations Expense 3,613,811          3,170,642          87.7% 3,657,400          3,537,481          96.7% (366,839)            ‐10.4% Police Services Total 16,347,730      15,699,612      96.0% 16,160,181      16,048,312      99.3% (348,700)           ‐2.2% Expense Total 74,516,969      70,007,171      93.9% 68,576,615      67,053,283      97.8% 2,953,887         4.4% *Fire Services Division includes EMS Page 45 of 170 FY2020 Annual Budget General Fund Summary Projected  Actuals  Variance  Fav/(Unfav) Beginning Balance 14,263,750 14,263,750 ‐ Revenues 75,675,607 78,928,145 3,252,534 Expenses 74,495,624 72,120,656 2,374,968 Ending Balance 15,443,733  21,071,239 5,627,506 Contingency Reserve 11,414,340 11,414,340 ‐ Economic Stability  Reserve 1,759,446 1,759,446 ‐ Benefit Payout Reserve 340,000 340,000 ‐ Available Fund Balance 1,929,947 7,557,453 5,627,506 Page 46 of 170 FY2020 Annual Budget General Fund Ending Balance Summary •Excess revenues or expense savings are one‐time sources of  available funds •FY2021 budget was adopted with planned uses of one‐time  funds •Staff will update Council on final available funds in March Final FY 2020 ending balance 21,071,239 less FY 2021 90 day contingency 12,626,752 less FY 2021 economic stability reserve 1,759,446 less FY 2021 benefit payout reserve 340,000 less FY 2021 budgeted transfer to CSRF - less FY 2021 budgeted use of balance 312,883 less FY 2021 GF Roll Forward Needs 283,729 FY 2021 additional transfer to CSRF 5,748,429 Page 47 of 170 FY2020 Annual Budget Electric Fund Overall revenue in the Electric  Fund totals $111.5 million, or  116% of budget.  Year to date expenses in the  Electric Fund total $90 million,  or 96% of budget.  Page 48 of 170 FY2020 Annual Budget Electric Fund Operating Revenues •Operating revenue in the Electric Fund totals $95 million through  the fiscal year, or 105% of budget and 6.8% over projections. •Electric sales revenue, the largest component of operating revenue,  totals $86.2 million. 101% of budget and 4 % over projections •Developer contributions total $4.5 million which is $2.5 million  more than projected. •Other revenues, which is comprised of penalties, fees, and the  utility allocation for shared services, totals $4.5 million.  Page 49 of 170 FY2020 Annual Budget Electric Fund Operating Expenditures •Operating expenses in the Electric Fund total $81.5 million through  the quarter.  –Budgeted Purchase power expenses total $59.5 million. •Net of Purchase Power, Congestion Revenue Rights(CRRs) and Sale of Renewable  Energy Credits* (RECs) –Actual Purchase Power expenses total $58.5M •Purchase Power : $61.54M •CRR: ($1.85M) •REC sales*: ($1.13M) –Actual purchase power expenses were $951,454 less than budgeted. * Electric Fund report shows REC sales under non‐operating revenues. Page 50 of 170 FY2020 Annual Budget Electric Fund Non‐operating Revenues •Non‐operating revenue in the Electric Fund totals $16.4 million  through the fiscal year, or 105% of budget and 7% over  projections. •Proceeds from power transformer sale to LCRA: $9.7 million.   •Bond proceeds total $5.1 million. Page 51 of 170 FY2020 Annual Budget Electric Fund Non‐operating Expenditures •Total non‐operating expenses total $8.2 million, or 88.61% of  budget. •CIP expense totals $4.2 million, or 82.74% of budget. –Unused bond proceed revenue or CIP budget may roll forward •Debt service payment of $3.9 million. Page 52 of 170 FY2020 Annual Budget Electric Summary Projected  Actuals  Variance  Fav/(Unfav)  Beginning Fund Balance 6,614,742  6,614,742  ‐ Revenues 104,826,619  111,547,150  6,720,531  Expenses 92,549,109 89,697,760  2,851,348 Ending Fund Balance 18,892,253  28,464,132  9,571,879  Contingency Reserve 4,190,234  4,190,234 ‐ Non‐Operating Reserve 13,402,019  13,402,019 ‐ Reserved Bond Proceeds 1,300,000 3,477,046 (2,177,046) Available Fund Balance ‐ 7,394,833      7,394,833 Page 53 of 170 FY2020 Annual Budget Water Fund Overall revenue in the fund  totals $98 million, or 115.52%  of budget.  Year to date expenses in the  Water Fund total $64.5  million, or 43% of budget.  Page 54 of 170 FY2020 Annual Budget Water Fund Operating Revenues •Water operating revenue totals $88 million, or 116.5% of  budget.  –Higher than projected water sales. A positive impact on ROI and  Franchise Fees in the General Fund.  •Capital Recovery Fees finished FY2020 7.54% higher than  budget and 7.95% higher than projected. Over the last three  fiscal years, the City has seen strong growth in this revenue  stream.   Page 55 of 170 FY2020 Annual Budget Water Fund Operating Expenditures •Water operating expenses total $45.1 million, or 92.5% of  budget.  •ROI ended FY2020 $815,327, or 24.71% higher than  projections.  •Additional operations savings in utilities, legal services, and  contracts Page 56 of 170 FY2020 Annual Budget Water Fund Non‐operating Revenues •Non‐operating revenues in the water fund total  $10.1 million in  FY2020. •Non‐operating revenues include; –Bond proceeds which totals $9.37 million. –Sale of assets which totals $735,404. Page 57 of 170 FY2020 Annual Budget Water Fund Non‐operating Expenditures •Non‐operating expenditures total $19.4 million in FY2020. •CIP expenditures total $13 million, or 13.54% of budget. –Multi‐year capital projects –Early project expenditures often include preliminary design work or  engineering.  Significant construction cost typically comes in the 2nd‐ 3rd year of a CIP project. –Staff will bring the FY2021 Rollforward Amendment to Council in  January. A life‐to‐date budget versus actual capital report is attached  to the agenda. Page 58 of 170 FY2020 Annual Budget Water Fund Summary Projected   Actuals   Variance  Fav/(Unfav)   Beginning Fund Balance  92,139,373  92,139,373  ‐ Revenues  88,601,436 97,999,621  9,398,185  Expenses  148,794,754  64,458,588  84,336,167 Ending Fund Balance  31,946,055 125,680,406 93,734,351 90 Day Contingency  9,480,045  9,480,045  ‐ Non‐Operational Con.   10,000,000  10,000,000  ‐ Available Fund Balance  12,466,010 106,200,361  93,734,351  Page 59 of 170 FY2020 Annual Budget Water Fund and CIP •FY2021 Capital Improvement Plan –Water and Wastewater Projects total $30 million. –Staff will bring the FY2021 Rollforward Amendment in January with a  list of FY2020 projects that need to be rolled into FY2021. Page 60 of 170 FY2020 Annual Budget CVB Fund Overall revenue in the fund  totals $1.1 million, or 76.5%  of budget.  Year to date expenses in the  Convention & Visitors Bureau  Fund total $1.0 million, or  69.41% of budget.  Page 61 of 170 FY2020 Annual Budget CVB Fund – Revenue •Hotel Occupancy Tax total $984,751 through the 4th quarter, or 76% of  budget.  This exceeds projections by 9.42%  ‐  20,000  40,000  60,000  80,000  100,000  120,000  140,000  160,000  180,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 2014 2014 2015 2016 2017 2018 2019 FY2020 2016 2017 2018 2019 FY2020 Page 62 of 170 FY2020 Annual Budget CVB Fund – Expenditures •FY2020 expenditures total $1.0 million which is 69.41% of budget, and  76.2% of projections •The fund experienced operational savings from the cancellation of many  tourism related events, marketing, and travel, as well as the savings from  one frozen staff position. Page 63 of 170 FY2020 Annual Budget CVB Summary Projected  Actuals  Variance  Fav/(Unfav)   Beginning Fund Balance 1,551,889  1,551,889  ‐ Revenues 1,048,608  1,132,443  83,835  Expenses 1,323,580  1,008,276  315,304 Ending Fund Balance 1,276,917  1,676,057  399,139 90 Day Contingency 273,376  273,376  ‐ Reserved for Capital 1,203,635  1,203,635  ‐ Available Fund Balance (200,094)  199,046  399,139  Page 64 of 170 FY2020 Annual Budget Airport Fund Operating Revenues •Airport operating revenue totals $3.34 million which represents  86% of budget.  •Fuel Sales are less than Budget. 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 65 of 170 FY2020 Annual Budget Airport Fund •Operating expenses in the Airport fund total $3.08 million, or  77% of budget.  •Non‐operating expenses total $146,562, or 90% of budget.  Page 66 of 170 FY2020 Annual Budget Airport Fund Projected  Actuals  Variance  Fav/(Unfav)  Beginning Fund Balance 1,259,036  1,259,036  ‐ Revenues 3,614,100  3,343,320  (270,780)  Expenses 3,654,089  3,231,997  422,092  Ending Fund Balance 1,219,047  1,370,359  151,312  90 Day Contingency 256,021 256,021 ‐ Debt Service Reserve 143,431 143,431 ‐ Available Fund Balance 819,595  970,907  151,312  Page 67 of 170 FY2020 Annual Budget Investment Report •Total cash and investments decreased for City in 4th quarter for  annual debt principal payments •Interest rates declined sharply due to COVID economic  conditions CITY              Book Value  GTEC  GEDCO  6/30/20  9/30/20    6/30/20  9/30/20    6/30/20  9/30/20  $249,992,313  $240,298,554    $29,222,450  $29,285,179    $9,347,002 $9,892,111  .74%   .54%    .52%  .17%    .55%  .47%  Page 68 of 170 FY2020 Annual Budget Unfunded Liabilities List •Per fiscal and budgetary policies, list included in quarterly  report to Council •4th quarter includes addition of all reserves impacted by FY2020  projections and FY2021 budget during conservative COVID  planning for uncertainty Page 69 of 170 FY2020 Annual Budget Next Steps •Acceptance of quarterly report on consent agenda •Year‐End Budget Amendment on legislative agenda •Third‐party independent audit of financial statements  December through February •FY2021 Roll Forward Amendment January •Discussion with Council about available one‐time fund balances  March Page 70 of 170 FY2020 Annual Budget Questions Page 71 of 170 FY2020 BUDGET AND FIVE YEAR CAPITAL IMPROVEMENT PLAN G e o r g e t o w n : A c a r i n g c o m m u n i t y h o n o r i n g o u r p a s t a n d i n n o v a t i n g f o r t h e f u t u r e Quarterly Report Page 72 of 170   F FY2020 Quarterly Report  EXECUTIVE SUMMARY FOR THE QUARTER ENDED SEPT. 30, 2020 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 $78.9 million, or 103.6% of  budget, and 104.3% of projections. Revenues exceed last  year’s annual total by $7.5 million, or 11%.    Sales  tax  revenue  accounts  for  23.4%  of  budgeted  revenues  in  the  General  Fund.  The  sales  tax  revenue  through  September  totals  $19.1  million,  or  107%  of  budget. Due to the COVID‐19 pandemic, mid‐year and  year‐end projections were very uncertain since sales tax  data  lags  two  months  in  arrears  and  the  impact  of  consumers’ shift to online retail was difficult to quantify.  In the Budget process, staff conservatively projected  sales tax to finish at $17.9 million, a variance from actuals  of 6.5%. The core sales tax sectors of retail, food, and  information continue to be strong in the fourth quarter.    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 $15.1  million or 101.1% of budget, and 101% 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 $5.8 million in FY2020, or 97.4% 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 $5.9  million, a variance of ‐2.6%.     Return on Investment (ROI) revenue from City‐owned  utilities  represents  11%  of  budgeted  revenues  in  the  fund. Through the fourth quarter, ROI revenues total $8.5  million, or 105.5% of budget. During the Budget process,  staff projected this segment would finish at $8.1 million,  including capping the Electric ROI transfer at $4.5 million.  The variance from projection is 5.5%, 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  $5.5  million  or  146%  of  budget.  The  variance of projection to actuals is $993 thousand, or  21.8% over projection. Contributing factors include large   ‐  50  100  150  200  250  300 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Residential Building Permits 2015 2016 2017 2018 2019 FY2020 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 FY2020 Page 73 of 170   F FY2020 Quarterly Report  one‐time master development fee payments of $627,736 as well as an increase in residential permits and inspections.  The permit graph in this report shows the five‐year history of new residential permits by month.    Sanitation revenue through the fourth quarter totals $10.1 million or 101.8% 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 $9.9 million. The variance of projection to actuals is 1.8%.     Fire and EMS revenue through the quarter totals $7.4 million, or 103% of budget. 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 9.4% of budgeted revenue in the fund. In the Budget process,  staff projected this segment of revenue would finish at $6.8 million.  Revenue came in higher than anticipated due  to the conservative forecast of EMS revenue and receiving additional grant funding from the SAFER grant and Texas  Ambulance Supplemental Payment Program revenue.  The variance of projection to actuals is 8%.    Parks and Recreation revenue totals $1.5 million for the year, or 55% of budget. In the Budget process, staff  conservatively projected Parks and Recreation revenue to end FY2020 at $1.5 million due to reduced programing and  services related to the pandemic. The Recreation staff offered childcare and other programming during the pandemic  to provide new revenues to help offset the impact of closure.  This is a variance of projection to actuals is 5%. Parks  and Recreation revenue represents 2% of projected revenues.       The All Other Revenue category includes court fees, animal and library fines, as well as interest earned. This category  is 4% under projections because allocated interest came in less than staff projected. Interest rates declined sharply  as a result of the pandemic economic conditions.    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 4.3% of projections. Property Tax and Sales Tax, which  combine account for 43% of budgeted revenues, finished the year at 4% above projections.     GENERAL FUND EXPENSES:  Annual expenses through the fourth quarter total $72.1 million, or 93.4% of budget and 96.8% of projection (this  includes all expenses type of personnel, operations, capital, and transfers).     Personnel and Operations Summary (excludes capital accounts)  Personnel costs through the 4th quarter total $42 million, or 97.8% of personnel budget. Operational costs total $28  million, or 89%. 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, and City Secretary) personnel and operational  expenditures  for  the  4 th  quarter  totals  $2.6  million,  which  represents  89.7%  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,  Communications and Public Engagement, Community Services, Code Enforcement, and Animal Services) and Finance  Division (Municipal Court) totals $13.1 million or 87.4% of budget.  COMBINDED EXPENSES FY2020 Budget FY2020 Actuals % of FY2020  Budget  FY2019  Budget   FY2019 YTD  Actuals  % of FY2019  Budget YTD Variance % Variance Personnel Expense 42,970,939       42,039,541       97.8% 39,760,459       39,946,912       100.5%2,092,629          5.2% Operations Expense 31,546,031       27,967,629       88.7% 28,816,156       27,106,371       94.1% 861,258             3.2% TOTAL 74,516,969      70,007,171      93.9% 68,576,615      67,053,283      97.8% 2,953,887         4.4% Page 74 of 170   F FY2020 Quarterly Report      Personnel and Operations Summary (excludes capital accounts)   Year‐to‐date personnel and operational expenditures for the Development & Planning Division totals $2.9 million  through the quarter or 90.2% of budget. Operational expenses total 73.4% 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 $320,828 and was incorporated in the FY2021 Budget development discussions.          The  Public  Works  Division  (Environmental  Services,  Public  Works,  and  Streets)  personnel  and  operational  expenditures through the 4th quarter totals $12.3 million or 91.2% 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 4th quarter total $19.2 million or 95.4% 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 department experienced savings is due to a combination of salary savings in  support services, and overtime/operational savings in operations. The department experienced a higher fill rate of  positions, which positively impacted overtime.    FY2020  Budget   FY2020  Actuals  % of FY2020  Budget  FY2019  Budget   FY2019  Actuals  % of FY2019  Budget YTD Variance % Variance Expenditure Administrative Services Personnel Expense 2,190,818         2,106,733         96.2% 1,967,951         2,002,556         101.8% 104,177            5.2% Operations Expense 739,924           523,515            70.8%671,827            573,246            85.3% (49,731)             ‐8.7% Administrative Services Total 2,930,742         2,630,249         89.7% 2,639,778         2,575,802         97.6% 54,447               2.1% Community Services and Finance Personnel Expense 8,859,056         8,041,458         90.8% 7,146,124         6,983,468         97.7% 1,057,990         15.1% Operations Expense 6,105,582         5,038,941         82.5% 5,288,877         4,854,380         91.8% 184,561            3.8% Community Services and Finance Total 14,964,638      13,080,399      87.4% 12,435,001      11,837,848      95.2% 1,242,551         10.5% Development & Planning Personnel Expense 2,446,509         2,348,105         96.0% 2,308,625         2,194,687         95.1% 153,417            7.0% Operations Expense 837,719           615,296            73.4%714,668            412,273            57.7% 203,022            49.2% Development & Planning Total 3,284,228         2,963,400         90.2% 3,023,293         2,606,961         86.2% 356,440            13.7% Fire Services* Personnel Expense 16,051,814      15,477,595      96.4% 15,104,380      14,516,204      96.1% 961,391            6.6% Operations Expense 4,049,632         3,689,892         91.1% 3,632,363         3,572,437         98.4% 117,455            3.3% Fire Services Total 20,101,446      19,167,487      95.4% 18,736,742      18,088,642      96.5% 1,078,845         6.0% General Gov't Contracts Personnel Expense (1,200,000)       30                       0.0% (1,145,000)       ‐                     0.0% 30                       Operations Expense 4,643,750         4,202,610         90.5% 4,575,401         4,384,232         95.8% (181,621)           ‐4.1% General Gov't Contracts Total 3,443,750         4,202,640         122.0% 3,430,401         4,384,232         127.8% (181,592)           ‐4.1% Public Works and Environmental Services Personnel Expense 1,888,823         1,536,651         81.4% 1,875,598         1,739,166         92.7% (202,515)           ‐11.6% Operations Expense 11,555,613      10,726,734      92.8% 10,275,620      9,772,322         95.1% 954,412            9.8% Public Works and Environmental Services 13,444,436      12,263,384      91.2% 12,151,218      11,511,487      94.7% 751,897            6.5% Police Services Personnel Expense 12,733,919      12,528,970      98.4% 12,502,781      12,510,831      100.1% 18,139               0.1% Operations Expense 3,613,811         3,170,642         87.7% 3,657,400         3,537,481         96.7% (366,839)           ‐10.4% Police Services Total 16,347,730      15,699,612      96.0% 16,160,181      16,048,312      99.3% (348,700)           ‐2.2% Expense Total 74,516,969      70,007,171      93.9% 68,576,615      67,053,283      97.8% 2,953,887         4.4% *Fire Services Division includes EMS Page 75 of 170   F FY2020 Quarterly Report    Year‐to‐date personnel and operational expenditures for Police through the quarter totals $15.7 million or 96% of  budget.     Overall, General Fund expenditures are within budget and the fund can cover the 90‐day Contingency Reserve  Economic Stability Reserve and the Benefit Payout Reserve. Every division finishes FY2020 at or below budget, and  on the whole the fund’s expenditures are below projections. The excesses in revenue and savings in expenses are a  positive impact for the fund as a whole and reflect the conservative budget contingency plan implemented by city  management and council during the second half of the year. It is important to complete the year‐end third‐party  independent audit, and the Roll Forward Budget Amendment, before evaluating potential uses of these one‐time  monies falling to fund balance.    UTILITY FUNDS:   Electric Fund: The City has used multiple strategies in FY2020 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 $95.2 million through the fourth quarter, or 105% of  budget, and 7% variance from projection. Electric revenue sales, the largest component of operating revenue, totals  $86.2 million. While there was a dip in consumption in the late spring at the beginning of the pandemic, consumption  improved in the latter half of the year. Other operating revenues, which  is comprised  of the shared services  chargeback allocation with Water, developer contributions, earned interest, and other revenue, totals $9 million  through the 4th quarter.    Total  annual  operating  expenses  in  the  Electric  Fund  total  $81.5  million  through  the  4 th  quarter.  The  savings  compared to budget and projections includes $1.8 million of labor costs that are eligible to charge toward capital  projects under non‐operating expense. Purchase power expenses total $61.5 million, while congestion revenue rights  (CRRs) credits total ‐$1.9 million, and renewable energy credits total $1.14 million. Net purchase power totals $58.5  million, which is $951,454 thousand less than budgeted in FY2020.    Non‐operating revenue totals $16.4 million through the fourth quarter of FY2020.  This total includes bond proceeds  for capital projects in the amount of $5.1 million, or 100.9% of budget.  Additionally, $9.7 million is included in non‐ operating revenue for the sale of transformers in FY2020.    Non‐operating expenditures totals $8.2 million through the fourth quarter. Expenditures include $4.2 million for  capital projects and $3.9 million for debt service payments. FY2020 non‐operating projections total $9.1 million, a  difference from 4th quarter actuals of ‐11.6%. Unutilized bond proceeds revenue and capital budget may be rolled  forward into FY2021.     Overall, the effort to manage the power portfolio, reduce operating expenditures, sell assets, and the Power Cost  Adjustment continue to improve the financial condition of the fund.    Staff recommends the following adjustments as part of the year‐end budget amendment. The year‐end projection  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.  The amendment includes recognizing a $4,200 transfer in from the Conservation Fund to cover Electric’s costs in  providing utility bill relief to customers as a result of the pandemic economic conditions. Council approved this  Page 76 of 170   F FY2020 Quarterly Report  strategy over the summer. The amendment also recognizes a $600K benefit of selling a second segment of the City’s  fiber infrastructure asset to the Information Technology fund.    Pending the approval of the year‐end budget amendment, it is anticipated the fund will finish the year with an ending  fund balance of approximately $29 million. This balance covers the 90‐day operating contingency reserve of $4.1  million and begins to recover the rate stabilization reserve. Portions of the ending balance must also cover reserved  bond proceeds, and may be rolled forward for capital projects.      Water Fund: Overall water operating revenue totals $88 million, or 116.5% of budget and 112.1% of projections. The  City saw no effect of the COVID pandemic on water consumption and 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 FY2020 higher than budget and higher than projected. Over the last three fiscal years, the City has seen  strong growth in this revenue stream as build out continues inside the City and in the Western District.      Water operating expenses total $45.1 million, or 92.5% of budget and 96.2% of projections. The fund experienced  some operational savings in utilities, legal services, and contracts.    Non‐operating revenues total $10.1 million and include bond proceeds for capital projects and sale of assets to  Leander. The “Transfer In – Debt payment” of $104K from GEDCO is posted to Other Revenue. Non‐operating  expenses total $19.4 million. The Capital Improvement budget in the Water Fund totals $95.5 million.  Many CIP  projects are in the beginning stages which includes design, engineering, and/or studies. These projects will have  significantly larger year‐to‐date expenditures in future years as construction begins. For these multi‐year projects,  staff will bring forward a CIP rollforward amendment in January to move unspent funds from FY2020 into the FY2021  Budget. The debt service actuals for FY2020 total $4.4 million, or 97% of budget.      Ending available fund balance of $106.2 million is $93.7 million higher than projected. However, this balance is  comprised of prior year bond proceeds, impact fees and CIP projects that will roll forward and be spent in FY2021  and forward.    OTHER MAJOR FUNDS:   Convention  &  Visitors  Bureau  Fund:  The  COVID‐19  pandemic  significantly  impacted  the  tourism  sector.  Overall revenue in the fund totals $1.1 million, or 76.5%  of budget. Hotel Occupancy Tax revenue totals $984,751  through the 4th quarter, or 76% of budget.  Year‐end  Hotel Occupancy Tax exceeds projections by $84,751, or  9.4%.  Staff have continued to market Georgetown and  are pleased to see occupancy rates recovering slowly but  steadily.    Year  to  date  expenses  in  the  Convention  &  Visitors  Bureau Fund total $1 million, or 69.4% of budget and  76.2% of projection. The fund experienced operational  savings as many tourism related events were cancelled  from the impact of COVID‐19. The fund finished FY2020 with an unaudited available fund balance of $199,046 and  meets the 90‐day operational reserve.     Airport  Fund:  Airport  operating  revenue  totals  $3.3  million,  which  represents  86%  of  budget,  and  92.5%  of  projections. Fuel Sales are the largest segment of revenue and are less than Budget. With the depressed price on   ‐  50,000  100,000  150,000  200,000 Oct Nov Dec Jan Feb Mar AprMay Jun Jul Aug Sep HOT Revenue 2015 2016 2017 2018 2019 FY2020 Page 77 of 170   F FY2020 Quarterly Report  fuel, the City is selling gas at a lesser rate than budgeted. However, the cost of the fuel is also below the budgeted  amount in expenses.     Operation expenses in the Airport fund total $3.1 million, or 77.7% of budget and 87.9% of projections. Non‐ operating expenses total $146,562 for debt payments.     Overall, the fund has positive cash flow and can meet its debt service and contingency requirements, with an available  ending available fund balance of $970,907.    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 2020 includes the maturing of financial institution deposits (CDs), reinvestment of CD’s, and investing of  consolidated funds in CD’s.  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, since March.  The Federal Open Market Committee (FOMC) expect to keep the Federal Funds rate  around 0% ‐ .25% due to the COVID‐19 pandemic and the impacted economy for an extended period of time.  These  are the lowest rates we have seen since December 2008.  The Cit y will continue soliciting for the best rates to improve  both diversity and yield, while keeping in mind safety and liquidity.  Additionally, the fourth quarter includes August  principle and interest payments for tax‐supported and utility revenue debt.     The Investment Reports for the quarter ending September 30, 2020, 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, 2020, compared to the prior quarter, is shown below for the  City,  as  well  as  Georgetown  Transportation  Enhancement  Corporation (GTEC) and Georgetown Economic  Development Corporation (GEDCO).  Included in the City portfolio are debt service, consolidated funds, and bond  proceeds.  The breakdown is consolidated at 63%, debt service at 5%, and bond proceeds at 32%.        CITY              Book Value  GTEC  GEDCO   6/30/20  9/30/20    6/30/20  9/30/20    6/30/20  9/30/20    Total cash and investments    $249,992,313  $240,298,554    $29,222,450  $29,285,179    $9,347,002 $9,892,111    Quarter End Average Yield  .74%   .54%    .52%  .17%    .55%  .47%     The City’s strategy continues to be matching maturities with cash flow needs, while focusing on the investment  policy’s long‐range goals.  The City’s investment strategy is to “ladder” or stagger maturities, thus minimizing erratic  interest rate fluctuations.  The City is continuing to manage the yield on bond proceeds for arbitrage purposes.    The City’s investment portfolio includes bank deposits, local government investment pool balances, money market  accounts,  financial  institution deposits (CD’s), and Treasury Bills.  All of these investments meet the safety  requirements of the PFIA. Local Government Investment Pools must maintain a rating of AAAm, Securities (Treasury  Bills) must have direct or implied backing of the Federal Government and Financial Institution Deposits (CDs and  money market accounts) must be collateralized with FDIC insurance or obligations with an implied backing from the  Federal Government.  The collateral on all City investments are  monitored monthly to ensure the financial institutions  carry minimum collateral of 100% with a letter of credit or 102% with pledged securities for all of the City’s  investments.  All securities held by financial institutions as collateral on behalf of the City have been reviewed and  met PFIA‐minimum rating criteria.    Page 78 of 170   F FY2020 Quarterly Report    The City continues to work 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.     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.       Staff has worked diligently to utilize the project module in the new Enterprise Resource Planning system, Workday,  for the City’s CIP reporting.  A life‐to‐date schedule for each of the approved projects is included in the quarterly  report.  This means the budget and spending in the report are for all fiscal years of the project, not just FY2020 or  the fourth quarter. This view provides a more comprehensive picture of the City’s capital program.     Projects are grouped based on fund, division, and cost center. Highlights of the 4th quarter of 2020 include the  opening of Fire Stations 6 and 7, completed sidewalk projects, and completed parks improvements.     Page 79 of 170 COG - General Fund Financial Report Period FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 14,263,750 - 14,263,750 14,263,750 - 100.00% Revenue Administrative Charges 2,707,730 226,478 2,717,730 2,707,730 10,000 100.37% Other Revenue 2,638,420 70,424 2,828,603 2,946,785 (118,182) 95.99% Development and Permit 3,804,250 628,456 5,549,541 4,555,550 993,991 121.82% Franchise Fees 5,910,270 750,643 5,757,843 5,912,057 (154,213) 97.39% Parks and Rec Fees 2,833,100 106,563 1,548,339 1,476,005 72,334 104.90% Property Tax 14,900,000 43,730 15,060,590 14,915,295 145,295 100.97% ROI 8,060,000 383,569 8,503,933 8,060,000 443,933 105.51% Sales Tax 17,861,875 5,149,172 19,108,465 17,946,250 1,162,215 106.48% Sanitation Revenue 9,933,450 865,863 10,112,935 9,933,450 179,485 101.81% Fire/EMS revenue 7,156,152 1,865,090 7,367,065 6,849,385 517,680 107.56% Transfers In 373,100 69,466 373,100 373,100 - 0.00% Revenue Total 76,178,347 10,159,454 78,928,145 75,675,607 3,252,538 104.30% Expense Administrative Services 1,933,851 131,646 1,734,398 1,675,228 (59,171) 103.53% Animal Services 989,507 58,916 913,514 967,657 54,143 94.40% Arts & Culture 36,729 2,526 44,405 53,694 9,289 82.70% City Council 177,608 11,543 161,758 169,049 7,291 95.69% City Secretary 819,283 64,385 734,092 761,473 27,381 96.40% Code Enforcement 524,382 44,063 417,111 439,142 22,031 94.98% Communications 684,453 34,844 501,726 608,209 106,482 82.49% Community Services 265,738 23,066 252,580 253,593 1,013 99.60% Environmental Services 8,532,355 1,451,584 8,450,680 8,480,012 29,332 99.65% Fire Emergency Services 14,312,200 723,789 14,004,382 14,426,111 421,729 97.08% Fire Support Services 3,160,344 171,336 3,293,090 3,351,268 58,178 98.26% Fire EMS 2,864,866 224,347 2,373,015 2,532,757 159,742 93.69% Garey Park 976,612 46,340 815,939 914,087 98,148 89.26% General Gov't Contracts 3,443,750 290,739 4,148,434 4,339,251 190,817 95.60% Inspections 1,347,040 78,069 1,309,326 1,282,436 (26,890) 102.10% Library 2,788,513 142,871 2,746,827 2,702,504 (44,323) 101.64% Municipal Court 664,063 12,062 571,075 605,084 34,008 94.38% Parks 2,781,344 153,589 2,486,755 2,640,419 153,665 94.18% Parks Admin 624,953 38,359 601,276 619,947 18,671 96.99% Planning 1,937,189 84,044 1,654,074 1,656,891 2,817 99.83% Police Admin 2,632,662 175,607 2,411,873 2,659,080 247,207 90.70% Police Operations 13,821,765 723,486 13,388,215 13,390,524 2,308 99.98% Public Works 1,469,053 126,590 1,040,671 1,235,203 194,531 84.25% Rec Programs 1,370,707 32,173 784,909 1,098,537 313,628 71.45% Page 80 of 170 Recreation 2,798,284 155,894 2,658,871 2,686,073 27,202 98.99% Streets 5,261,012 204,654 3,810,093 4,071,354 261,261 93.58% Tennis Center 464,354 20,040 353,704 351,183 (2,522) 100.72% Transfer Out 524,860 0 457,860 524,860 67,000 87.23% Expense Total 77,207,474 5,226,561 72,120,656 74,495,624 2,374,968 96.81% Excess (Deficiency) of Total Revenue over Total Requirements (1,029,127) 4,932,893 6,807,489 1,179,983 5,627,506 576.91% Ending Fund Balance 13,234,623 4,932,893 21,071,239 15,443,733 5,627,506 136.44% Reserves Contingency Reserve 11,414,340 - 11,414,340 11,414,340 - 100.00% Economic Stability Reserve 1,480,283 - 1,759,446 1,759,446 - 100.00% Benefit Payout Reserve 340,000 - 340,000 340,000 - 100.00% Total Reserved Fund 13,234,623 - 13,513,786 13,513,786 100.00% Available Fund Balance 0 4,932,893 7,557,453 1,929,947 5,627,506 391.59% Page 81 of 170 COG - Electric Fund Financial Report Period FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 6,614,742 - 6,614,742 6,614,742 - 100.00% Operating Revenue Electric Revenue 85,509,803 7,806,289 86,150,073 82,530,271 3,619,802 104.39% Interest 40,000 1,464 10,703 10,000 703 107.03% Other Revenue 4,498,616 1,707,249 4,539,266 4,515,348 23,918 100.53% Developer Contributions 600,000 991,625 4,476,298 2,000,000 2,476,298 223.81% Operating Revenue Total 90,648,419 10,506,626 95,176,341 89,055,619 6,120,722 106.87% Operating Expenditures CRR Credits (2,000,000) (222,433) (1,858,623) (1,698,472) 160,151 109.43% Electric Operations 20,282,587 (757,052) 17,360,443 19,448,613 2,088,170 89.26% Purchase Power 61,500,000 5,333,752 61,542,930 61,198,472 (344,458) 100.56% Transfers Out - ROI 4,500,000 - 4,500,000 4,500,000 (0) 100.00% Operating Expenditures Total 84,282,587 4,354,267 81,544,750 83,448,613 1,903,863 97.72% Total Net Operations 6,365,832 6,152,359 13,631,591 5,607,006 8,024,585 243.12% Non-Operating Revenue Renewable Energy Credits - 258,500 1,135,761 - 1,135,761 0.00% Grant Revenue - 1,860 1,860 - 1,860 0.00% Bond Proceeds 5,010,000 - 5,055,000 5,010,000 45,000 100.90% Transfers In 500,000 500,000 500,000 500,000 - 100.00% Sale of Assets 10,000 9,661,890 9,678,188 10,261,000 (582,812) 94.32% Non-Operating Revenue Total 5,520,000 10,422,251 16,370,809 15,771,000 599,809 103.80% Non-Operating Expenditures CIP 5,110,948 2,344,108 4,228,906 5,010,000 781,094 84.41% Interest Expense 1,224,183 - 1,181,242 1,224,183 42,941 96.49% Debt Service 2,866,312 - 2,742,862 2,866,312 123,450 95.69% Non-Operating Expenditures Total 9,201,442 2,344,108 8,153,010 9,100,495 947,485 89.59% Total Net Non-Operations (3,681,442) 8,078,143 8,217,799 6,670,505 1,547,294 123.20% Excess (Deficiency) of Total Revenue Over Total Requirements 2,684,390 14,230,502 21,849,390 12,277,511 9,571,879 177.96% Ending Fund Balance 9,299,132 14,230,502 28,464,132 18,892,253 9,571,879 150.67% Reserves Contingency Reserve 4,142,159 - 4,190,234 4,190,234 - 100.00% Non-operating Reserve 4,555,000 - 13,402,019 13,402,019 - 100.00% Reserved Bond Proceeds 3,477,046 1,300,000 (2,177,046) Page 82 of 170 Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Total Reserved Fund Balance 8,697,159 - 21,069,299 18,892,253 (2,177,046) 111.52% Available Fund Balance 601,973 14,230,502 7,394,833 - 7,394,833 0.00% Page 83 of 170 COG - Water Fund Financial Report Period FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 92,139,373 - 92,139,373 92,139,373 - 100.00% Operating Revenue Capital Recovery Fee 26,550,000 380,342 28,552,315 26,449,377 2,102,938 107.95% Interest 949,500 35,616 1,455,489 1,045,052 410,437 139.27% Irrigation Charges 310,000 99,571 513,679 310,000 203,679 165.70% Other Revenue 3,450,300 846,121 7,591,503 6,201,391 1,390,112 122.42% Wastewater Charges 13,298,825 1,145,944 14,322,255 13,500,000 822,255 106.09% Water Charges 30,869,778 3,576,766 35,453,977 30,881,001 4,572,976 114.81% Total Operating Revenue 75,428,403 6,084,360 87,889,217 78,386,821 9,502,396 112.12% Operating Expenses Irrigation Operations 290,000 21,370 249,041 290,000 40,959 85.88% Transfer Out, ROI 3,300,000 359,055 4,115,327 3,300,000 (815,327) 124.71% Transfer Out 467,733 68,233 68,233 399,500 331,267 17.08% Wastewater Operations 6,230,509 2,865,265 5,128,377 4,266,100 (862,277) 120.21% Wastewater Plant Management 3,316,576 206,166 3,169,700 3,538,422 368,722 89.58% Water Administration 23,204,199 2,935,004 22,700,312 24,565,931 1,865,619 92.41% Water Distribution 4,186,426 269,388 2,504,866 2,756,113 251,247 90.88% Water Operations 4,277,280 211,415 3,975,056 4,136,579 161,523 96.10% Water Plant Management 3,482,597 277,426 3,177,495 3,596,243 418,748 88.36% Total Operating Expenses 48,755,320 7,213,322 45,088,406 46,848,888 1,760,481 96.24% Total Net Operations 26,673,083 (1,128,962) 42,800,810 31,537,933 11,262,877 135.71% Non-Operating Revenue Bond Proceeds 9,300,000 - 9,375,000 9,375,000 0 100.00% Grant Revenue - - 0 - 0 0.00% Transfers In - Debt 104,211 - 0 104,211 (104,211) 0.00% Sale of Assets 1,500 - 735,404 735,404 0 100.00% Non-Operating Revenue Total 9,405,711 - 10,110,404 10,214,615 (104,211) 98.98% Non-Operating Expenditures Interest Expense 2,150,937 (2,470) 2,082,610 2,150,937 68,326 96.82% CIP 95,488,428 1,684,193 12,929,709 95,494,449 82,564,740 13.54% Debt Service 4,491,481 750 4,357,862 4,300,481 (57,381) 101.33% Non-Operating Expenditures Total 102,130,846 1,682,473 19,370,181 101,945,867 82,575,685 19.00% Total Net Non-Operations (92,725,135) (1,682,473) (9,259,777) (91,731,252) 82,471,474 10.09% Excess (Deficiency) of Total Revenue over Total Requirements (66,052,052) (2,811,434) 33,541,033 (60,193,318) 93,734,351 -55.72% Page 84 of 170 Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Ending Fund Balance 26,087,321 (2,811,434) 125,680,406 31,946,055 93,734,351 393.41% Reserves Contingency Reserve 9,480,045 - 9,480,045 9,480,045 0 0.00% Non-Operating Contingency 10,000,000 - 10,000,000 10,000,000 0 0.00% Total Reserved Fund Balance 19,480,045 - 19,480,045 19,480,045 0 0.00% Available Fund Balance 6,607,276 (2,811,434) 106,200,361 12,466,010 93,734,351 851.92% Page 85 of 170 COG - Joint Services Fund Financial Report Period FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 1,415,206 - 1,415,206 1,415,206 - 100.00% Revenue Administrative Charges 17,691,145 1,391,067 17,691,145 17,640,111 51,034 100.29% Interest 25,000 724 20,038 13,000 7,038 154.14% Other 103,000 101,295 260,960 106,695 154,265 244.58% Transfers In 313,405 18,346 313,405 331,751 (18,346) 94.47% Revenue Total 18,132,550 1,511,432 18,285,548 18,091,557 193,991 101.07% Expense Accounting 1,128,153 56,598 1,099,921 1,124,962 25,041 97.77% Business System Services 1,198,892 68,689 1,075,563 1,043,437 (32,126) 103.08% Citywide HR 1,331,061 65,069 1,001,744 1,087,621 85,877 92.10% Conservation 894,920 56,806 589,587 731,365 141,779 80.61% Customer Care 5,115,459 373,699 5,015,939 5,020,817 4,878 99.90% Economic Development 687,049 27,094 568,546 605,918 37,372 93.83% Finance Administration 1,050,021 55,503 941,310 963,711 22,401 97.68% Human Resources 1,447,934 120,551 1,320,294 1,320,069 (224) 100.02% Legal 1,063,008 72,396 1,030,141 993,354 (36,787) 103.70% Non-departmental 741,193 297,012 1,566,958 1,089,171 (477,787) 143.87% Organizational and Operational Excellence 329,898 34,849 287,241 299,152 11,911 96.02% Purchasing 923,989 70,298 877,266 888,375 11,108 98.75% Systems Engineering 2,565,963 92,425 2,314,004 2,306,340 (7,664) 100.33% Expense Total 18,477,541 1,390,988 17,688,514 17,474,293 (214,221) 101.23% Excess (Deficiency) of Total Revenue over Total Requirements (344,991) 120,444 597,034 617,264 (20,230) 96.72% Ending Fund Balance 1,070,215 120,444 2,012,240 2,032,470 (20,230) 99.00% Reserves Contingency Reserve 1,070,215 0 1,070,215 1,070,215 - 0.00% Total Reserve Balance 1,070,215 0 1,070,215 1,070,215 - 0.00% Available Fund Balance 0 0 942,025 962,255 (20,230) 97.90% Page 86 of 170 COG - Council Discretionary Fund Financial Report Period FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumberance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 109,415 - 109,415 109,383 32 100.03% Revenue Interest 2,500 41 1,582 1,789 (207) 88.42% Transfers In - - - - 0 0.00% Revenue Total 2,500 41 1,582 1,789 (207) 88.42% Expense Transfers Out - - - - 0 0.00% Expense Total - - - - 0 0.00% Excess (Deficiency) of Total Revenue over Total Requirements 2,500 41 1,582 1,789 (207) 88.42% Ending Fund Balance 111,915 41 110,997 111,172 (175) 99.84% Available Fund Balance 111,915 - 110,997 111,172 (175) 99.84% Page 87 of 170 COG - Convention & Visitors Bureau (CVB) Fund Financial Report Period FY 2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 1,551,889 - 1,551,889 1,551,889 - 100.00% Revenue Hotel/Motel Occupancy Tax Revenues 1,300,000 151,838 984,751 900,000 84,751 109.42% Interest 18,000 599 21,323 20,594 729 103.54% Other 18,500 439 38,792 36,859 1,933 105.24% Poppy Festival 144,283 (4) 87,577 91,155 (3,578) 96.08% Revenue Total 1,480,783 152,872 1,132,443 1,048,608 83,835 107.99% Expense Operations 798,752 21,724 556,657 771,067 214,410 72.19% Personnel 413,567 10,441 367,959 374,401 6,442 98.28% Poppy Festival 211,700 - 55,025 149,478 94,453 36.81% Transfers Out 28,634 - 28,634 28,634 - 100.00% Expense Total 1,452,654 32,165 1,008,276 1,323,580 315,304 76.18% Excess (Deficiency) of Total Revenue over Total Requirements 28,129 120,708 124,168 (274,972) 399,139 (45.16%) Ending Fund Balance 1,580,018 - 1,676,057 1,276,917 399,139 131.26% Reserves Contingency Reserve 273,376 - 273,376 273,376 - 0 Capital Reserve 1,203,635 - 1,203,635 1,203,635 - 0 Total Reserved Fund Balance 1,477,011 - 1,477,011 1,477,011 - 100.00% Available Fund Balance 103,007 - 199,046 (200,094) 399,139 (99.48%) Page 88 of 170 COG - Airport Operations Fund Financial Report Period  FY2020 ‐ Sep  Ledger Account Approved Budget Current Period Year To Date (w/Encumbrance) Year-End Projections Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 1,259,036 - 1,259,036 1,259,036 - 100% Operating Revenue Fuel and Terminal Sales 2,901,500                               209,614                                  2,303,549                               2,502,000                               (198,451)                                 92% Interest and Other 51,000                                    57,479                                    75,841                                    52,600                                    23,241                                    144% Grant Revenue ‐                                           40,334                                    40,337                                    153,000                                  (112,663)                                 26% Leases and Rentals 928,500                                  78,162                                    923,593                                  906,500                                  17,093                                    102% Operating Revenue Total 3,881,000                               385,589                                  3,343,320                               3,614,100                               (270,780)                                 93% Operating Expenditures Operations-Fuel 2,270,000                               162,996                                  1,756,318                               2,200,609                               444,291                                  80% Operations-Non Fuel 878,327                                  81,790                                    780,143                                  803,487                                  23,345                                    97% Personnel 501,098                                  27,697                                    438,514                                  475,573                                  37,059                                    92% Operating Capital 323,566                                  88,859                                    110,461                                  28,000                                    (82,461)                                   395% Operating Expenditures Total 3,972,991                               361,342                                  3,085,435                               3,507,669                               422,234                                  88% Total Net Operations (91,991) 24,247 257,885 106,431 151,454 242% Non-Operating Revenue Bond Proceeds ‐                                            ‐                                            ‐                                            ‐                                            ‐                                           0.00% Non-Operating Revenue Total ‐                                            ‐                                            ‐                                            ‐                                            ‐                                           0.00% Non-Operating Expenditures CIP Expense ‐                                            ‐                                            ‐                                            ‐                                            ‐                                           0.00% Debt Service 101,358                                   ‐                                           86,500                                    86,358                                    (142)                                        99.84% Interest Expense 60,062                                    2,470                                      60,062                                    60,062                                    (0)                                             100.00% Non-Operating Expenditure Total 161,420                                  2,470                                      146,562                                  146,420                                  (142)                                        99.90% Total Net Non-Operations (161,420) (2,470) (146,562) (146,420) (142) 100% Excess (Deficiency) of Total Revenue over Total Requirements (253,411)                                 21,777                                    111,323                                  (39,989)                                   151,312                                   ‐278% Ending Fund Balance 1,005,625 21,777 1,370,359 1,219,047 151,312 112.41% Reserves Contingency Reserve 256,021                                   ‐                                           256,021                                  256,021                                   ‐                                           0.00% Debt Service Reserve 143,431                                   ‐                                           143,431                                  143,431                                   ‐                                           0.00% Total Reserved Fund Balance 399,452                                   ‐                                           399,452                                  399,452                                   ‐                                           0.00% Available Fund Balance 606,173 21,777 970,907 819,595 151,312 118.46% Page 89 of 170 COG - Georgetown Transportation Enchancement Corporation (GTEC) Fund Financial Report Period FY2020 - SEP Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 21,649,668 - 21,649,668 21,649,668 - 100.00% Operating Revenue Sales Tax 7,937,500 2,288,300 8,491,326 7,975,000 516,326 106.47% Interest 230,000 3,816 272,223 225,000 47,223 120.99% Other Revenue - - - - - 0.00% Operating Revenue Total 8,167,500 2,292,116 8,763,548 8,200,000 563,548 106.87% Operating Expenditures Administrative Support 410,223 34,119 409,806 410,223 417 99.90% Operating Expenditures Total 410,223 34,119 409,806 410,223 417 99.90% Total Net Operations 7,757,277 2,257,997 8,353,742 7,789,777 563,965 107.24% Non-Operating Revenue Bond Proceeds 4,700,000 - 4,740,000 4,700,000 40,000 100.85% Transfers In - - - - - 0.00% Non-Operating Revenue Total 4,700,000 - 4,740,000 4,700,000 40,000 100.85% Non-Operating Expenditure Economic Development Agreements 1,984,375 - - - - 0.00% Strategic Partnerships 2,000,000 - - 2,000,000 2,000,000 0.00% CIP Expense 15,259,855 14,602 431,251 15,259,855 14,828,605 2.83% Debt Service 3,333,921 - 3,282,461 3,333,921 51,460 98.46% Non-Operating Expenditure Total 22,578,151 14,602 3,713,712 20,593,776 16,880,064 18.03% Total Net Non-Operations (17,878,151) (14,602) 1,026,288 (15,893,776) 16,920,064 (6.46%) Excess (Deficiency) of Total Revenue over Total Requirements (10,120,874) 2,243,396 9,380,031 (8,103,999) 17,484,030 (115.75%) Ending Fund Balance 11,528,794 2,243,396 31,029,699 13,545,669 17,484,030 229.07% Page 90 of 170 Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Reserves Contingency Reserve 1,984,375 - 1,984,375 1,984,375 - 0.00% Debt Service Reserve 3,225,642 - 3,225,642 3,225,642 - 0.00% Total Reserved Fund Balance 5,210,017 - 5,210,017 5,210,017 - 0.00% Available Fund Balance 6,318,777 - 25,819,682 8,335,652 17,484,030 309.75% Page 91 of 170 COG - Georgetown Economic Development Corporation (GEDCO) Fund Financial Report Period FY2020 - Sep Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Beginning Fund Balance 8,138,781 - 8,138,781 8,138,781 - 100.00% Operating Revenue Interest 76,000 1,300 98,282 85,020 13,262 115.60% Sales Tax 1,984,375 572,075 2,122,831 1,993,750 129,081 106.47% Other Revenue - - - - - 0.00% Operating Revenue Total 2,060,375 573,375 2,221,114 2,078,770 142,344 106.85% Operating Expenditures Miscellaneous Expense 295,173 - - - - 0.00% Promotional & Marketing Program 3,361 6,146 68,778 100,000 31,222 68.78% Contractual Services 30,000 10,000 27,587 15,123 (12,464) 182.41% Administrative Expenses 244,771 20,398 244,771 244,771 0 100.00% Travel & Training 500 - 92 - (92) 0.00% Supplies - - - - - 0.00% Operating Expenditures Total 573,805 36,544 341,227 359,894 18,667 94.81% Total Net Operations 1,486,570 536,831 1,879,887 1,718,876 161,011 109.37% Non-Operating Revenue Bond Proceeds - - - - - 0.00% Bond Premium - - - - - 0.00% Transfers In - - - - - 0.00% Non-Operating Revenue Total - - - - - 0.00% Non-Operating Expenditures Principal Reduction 83,695 83,695 83,695 83,695 - 100.00% Debt Service 207,669 - 207,789 207,669 (120) 100.06% Interest Expense 20,516 20,516 20,516 20,516 - 100.00% Strategic Partnership 8,613,855 - 804,551 700,000 (104,551) 114.94% Non-Operating Expenditures Total 8,925,735 104,211 1,116,551 1,011,880 (104,671) 110.34% Total Net Non-Operations (8,925,735) (104,211) (1,116,551) (1,011,880) (104,671) 110.34% Excess (Deficiency) of Total Revenue over Total Requirements (7,439,165) 432,620 763,335 706,996 56,339 107.97% Ending Fund Balance 699,616 432,620 8,902,116 8,845,777 56,339 100.64% Page 92 of 170 Ledger Account Approved Budget Current Period Year to Date (w/Encumbrance) Year-End Projection Year-End Variance Fav/(Unfav) % of Projection Reserves Contingency Reserve 489,298 - 489,298 489,298 - 0.00% Non-Operational Reserve 210,318 - 210,318 210,318 - 0.00% Bond Proceeds Reserve - - - - - 0.00% Total Reserved Fund Balance 699,616 - 699,616 699,616 - 0.00% Available Fund Balance 0 8,202,500 8,146,161 56,339 100.69% Page 93 of 170 CITY QUARTERLY INVESTMENT REPORT For the Quarter Ended September 30, 2020 Prepared by Valley View Consulting, L.L.C. The investment portfolio of the City of Georgetown is in compliance with the Public Funds Investment Act and the Investment Policy and Strategies. ________________________________________________________________________ Elaine Wilson Leigh Wallace Controller Finance Director ___________________________________ Karrie Pursley Treasurer Disclaimer: These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees. Page 94 of 170 FYE Results by Investment Category: Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value Demand Accounts 0.52%6,140,421$ 6,140,421$ 0.26%9,505,298$ 9,505,298$ NOW/MMA 2.21%20,080,071 20,080,071 0.87%15,087,991 15,087,991 Pools 2.12%80,054,900 80,054,900 0.14%103,065,896 103,065,896 CDs/Securities 2.65%72,607,471 72,611,429 0.89%112,639,369 112,640,201 Totals 178,882,862$ 178,886,821$ 240,298,554$ 240,299,385$ Fourth Quarter-End Yield 2.29%0.54% Average Quarter-End Yields (1): 2019 Fiscal Year 2020 Fiscal Year Georgetown-City 2.36%1.15% Rolling Three Month Treasury 2.30%0.76% Rolling Six Month Treasury 2.37%0.99% TexPool 2.31%0.75% (1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value. September 30, 2019 Annual Comparison of Portfolio Performance September 30, 2020 Valley View Consulting, L.L.C.1Page 95 of 170 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield Demand Accounts 9,511,536$ 9,511,536 9,505,298$ 9,505,298$ 0.26% NOW/MMA 21,787,639 21,787,639 15,087,991 15,087,991 0.87% Pools 135,563,839 135,563,839 103,065,896 103,065,896 0.14% CDs/Securities 83,129,298 83,138,997 112,639,369 112,640,201 0.89% Totals 249,992,313$ 250,002,012$ 240,298,554$ 240,299,385$ 0.54% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.54%Total Portfolio 1.15% Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76% Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99% TexPool 0.15%TexPool 0.75% Bank Fees Offset 5,077$ Interest income provided in separate report.30,413$ June 30, 2020 (1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank, pool, and money market balances. (2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. Quarterly Bank Fees Offset Year-to-date Bank Fees Offset September 30, 2020 Valley View Consulting, L.L.C.2Page 96 of 170 Economic Overview 9/30/2020 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%), and projected that reduced rates could remain through 2024. Final estimate of Second Quarter GDP revised to down 31.4% (from down 31.9%). The Yield Curve remained stable. Crude oil slid to below $40 per barrel. September Non Farm Payroll added 661k workers. Business added over 800k, but governments shed 200+k. The Stock Markets retreated slightly from all-time highs. Housing strengthened due to low mortgage rates. Additional federal economic assistance remained stalled in Congress. 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 3,500 3,750 S&P 500 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 US Treasury Historical Yields - Since Nov 2015 Six Month T-Bill Two Year T-Note Ten Year T-Note 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Treasury Yield Curves September 30, 2019 June 30, 2020 September 30, 2020 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 US Treasury Historical Yields - Since 2006 Six Month T-Bill Two Year T-Note Ten Year T-Note Valley View Consulting, L.L.C.3Page 97 of 170 City - Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield JPMorgan Chase Cash (3)0.26%10/01/20 09/30/20 9,505,298$ 9,505,298$ 1.00 9,505,298$ 1 0.26% JPMorgan Chase MMA 0.05%10/01/20 09/30/20 433,983 433,983 1.00 433,983 1 0.05% Veritex Bank MMA 0.20%10/01/20 09/30/20 3,210,906 3,210,906 1.00 3,210,906 1 0.20% NexBank MMA 0.45%10/01/20 09/30/20 7,355,685 7,355,685 1.00 7,355,685 1 0.45% Origin Bank MMA 2.25%10/01/20 09/30/20 4,087,417 4,087,417 1.00 4,087,417 1 2.25% TexPool AAAm 0.15%10/01/20 09/30/20 28,793,102 28,793,102 1.00 28,793,102 1 0.15% TexSTAR AAAm 0.13%10/01/20 09/30/20 74,272,794 74,272,794 1.00 74,272,794 1 0.13% T-Bill Aaa/AA+0.00%10/08/20 10/17/19 2,500,000 2,499,139 99.999 2,499,970 8 1.60% Independent Bank CD 1.85%10/18/20 10/18/19 2,534,811 2,534,811 100.00 2,534,811 18 1.86% East West Bank CD 0.55%11/09/20 05/08/20 3,006,607 3,006,607 100.00 3,006,607 40 0.55% Independent Bank CD 2.56%11/10/20 05/10/19 1,032,494 1,032,494 100.00 1,032,494 41 2.58% R Bank CD 1.76%11/19/20 02/19/20 2,521,930 2,521,930 100.00 2,521,930 50 1.78% Southside Bank CD 1.72%11/19/20 11/19/19 3,258,686 3,258,686 100.00 3,258,686 50 1.73% East West Bank CD 1.71%12/09/20 12/09/19 4,056,045 4,056,045 100.00 4,056,045 70 1.72% East West Bank CD 1.71%01/08/21 01/08/20 3,037,761 3,037,761 100.00 3,037,761 100 1.72% Independent Bank CD 1.70%02/05/21 02/05/20 3,126,261 3,126,261 100.00 3,126,261 128 1.71% Independent Bank CD 0.60%02/08/21 05/08/20 11,016,636 11,016,636 100.00 11,016,636 131 0.60% East West Bank CD 0.32%02/18/21 08/18/20 9,003,472 9,003,472 100.00 9,003,472 141 0.32% R Bank CD 1.81%02/19/21 02/19/20 4,036,263 4,036,263 100.00 4,036,263 142 1.83% Bank OZK CD 1.72%02/26/21 02/27/20 6,060,233 6,060,233 100.00 6,060,233 149 1.73% Southside Bank CD 0.21%03/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 162 0.21% Bank OZK CD 0.25%03/11/21 09/11/20 1,500,000 1,500,000 100.00 1,500,000 162 0.25% East West Bank CD 0.29%03/15/21 09/14/20 3,500,473 3,500,473 100.00 3,500,473 166 0.29% Prosperity Bank CD 0.45%04/01/21 07/01/20 4,004,525 4,004,525 100.00 4,004,525 183 0.45% Independent Bank CD 1.80%04/22/21 10/22/19 4,155,537 4,155,537 100.00 4,155,537 204 1.81% Bank OZK CD 0.70%05/10/21 05/08/20 12,028,372 12,028,372 100.00 12,028,372 222 0.70% Southside Bank CD 0.22%06/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 254 0.22% Bank OZK CD 0.30%06/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 254 0.30% Prosperity Bank CD 0.60%07/01/21 07/01/20 4,006,033 4,006,033 100.00 4,006,033 274 0.60% Prosperity Bank CD 0.70%07/15/21 07/15/20 5,007,459 5,007,459 100.00 5,007,459 288 0.70% East West Bank CD 0.32%08/18/21 08/18/20 2,000,772 2,000,772 100.00 2,000,772 322 0.32% Prosperity Bank CD 0.40%08/23/21 08/21/20 6,245,860 6,245,860 100.00 6,245,860 327 0.40% TOTALS 240,299,415$ 240,298,554$ 240,299,385$ 81 0.54% (1)(2) September 30, 2020 (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees. Valley View Consulting, L.L.C.4Page 98 of 170 0–6 Months 80% 6–12 Months 20% 12–18 Months 0% 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 $250,000,000 $275,000,000 09/30/19 12/31/19 03/31/20 06/30/20 09/30/20 Portfolio Balances Money Market Local Depository TexSTAR TexPool Certificate of Deposit US Treasury 166174166 102 69 90 73 75 109104 123 156163 97 108 87 51 67 49 41 91 73 61 54 99 71 124 95100 80 70 67 63 58 81 0 50 100 150 200 # o f D a y s Weighted Average to Maturity JPMorgan Chase 4% Southside Bank 6% Prosperity Bank 8% Veritex Bank 1% Bank OZK 10% NexBank 3% TexPool 12%TexSTAR 31% Independent Bank 9% Origin Bank 2% East West Bank 10% R Bank 3% T-Bill 1% Portfolio Holdings by Issuer Valley View Consulting, L.L.C.5Page 99 of 170 City - Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 06/30/20 Increases Decreases Book Value 09/30/20 Market Value 06/30/20 Change in Market Value Market Value 09/30/20 JPMorgan Chase Cash 0.26%10/01/20 9,511,536$ –$ (6,238)$ 9,505,298$ 9,511,536$ (6,238)$ 9,505,298$ JPMorgan Chase MMA 0.05%10/01/20 433,929 54 – 433,983 433,929 54 433,983 Veritex Bank MMA 0.20%10/01/20 3,208,928 1,977 – 3,210,906 3,208,928 1,977 3,210,906 NexBank MMA 0.45%10/01/20 7,346,749 8,936 – 7,355,685 7,346,749 8,936 7,355,685 Origin Bank MMA 2.25%10/01/20 10,798,033 – (6,710,616) 4,087,417 10,798,033 (6,710,616) 4,087,417 TexPool 0.15%10/01/20 45,475,841 – (16,682,739) 28,793,102 45,475,841 (16,682,739) 28,793,102 TexSTAR 0.13%10/01/20 90,087,998 – (15,815,204) 74,272,794 90,087,998 (15,815,204) 74,272,794 East West Bank CD 2.48%07/15/20 5,152,781 – (5,152,781) – 5,152,781 (5,152,781) – East West Bank CD 1.72%08/04/20 6,546,565 – (6,546,565) – 6,546,565 (6,546,565) – R Bank CD 2.10%08/16/20 2,031,778 – (2,031,778) – 2,031,778 (2,031,778) – R Bank CD 1.17%08/16/20 1,013,818 – (1,013,818) – 1,013,818 (1,013,818) – Prosperity Bank CD 2.66%08/21/20 6,215,859 – (6,215,859) – 6,215,859 (6,215,859) – T-Bill 1.60%10/08/20 2,489,236 9,903 – 2,499,139 2,498,935 1,035 2,499,970 Independent Bank CD 1.86%10/18/20 2,523,205 11,606 – 2,534,811 2,523,205 11,606 2,534,811 East West Bank CD 0.55%11/09/20 3,002,442 4,165 – 3,006,607 3,002,442 4,165 3,006,607 Independent Bank CD 2.58%11/10/20 1,025,893 6,602 – 1,032,494 1,025,893 6,602 1,032,494 R Bank CD 1.78%11/19/20 2,510,767 11,163 – 2,521,930 2,510,767 11,163 2,521,930 Southside Bank CD 1.73%11/19/20 3,244,620 14,067 – 3,258,686 3,244,620 14,067 3,258,686 East West Bank CD 1.72%12/09/20 4,038,601 17,444 – 4,056,045 4,038,601 17,444 4,056,045 East West Bank CD 1.72%01/08/21 3,024,696 13,065 – 3,037,761 3,024,696 13,065 3,037,761 Independent Bank CD 1.71%02/05/21 3,112,959 13,302 – 3,126,261 3,112,959 13,302 3,126,261 Independent Bank CD 0.60%02/08/21 11,000,000 16,636 – 11,016,636 11,000,000 16,636 11,016,636 East West Bank CD 0.32%02/18/21 – 9,003,472 – 9,003,472 – 9,003,472 9,003,472 R Bank CD 1.83%02/19/21 4,017,891 18,372 – 4,036,263 4,017,891 18,372 4,036,263 Bank OZK CD 1.73%02/26/21 6,034,021 26,213 – 6,060,233 6,034,021 26,213 6,060,233 Southside Bank CD 0.21%03/11/21 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000 Bank OZK CD 0.25%03/11/21 – 1,500,000 – 1,500,000 – 1,500,000 1,500,000 East West Bank CD 0.29%03/15/21 – 3,500,473 – 3,500,473 – 3,500,473 3,500,473 Prosperity Bank CD 0.45%04/01/21 – 4,004,525 – 4,004,525 – 4,004,525 4,004,525 Independent Bank CD 1.81%04/22/21 4,137,022 18,515 – 4,155,537 4,137,022 18,515 4,155,537 Bank OZK CD 0.70%05/10/21 12,007,144 21,228 – 12,028,372 12,007,144 21,228 12,028,372 Southside Bank CD 0.22%06/11/21 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000 Bank OZK CD 0.30%06/11/21 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000 Prosperity Bank CD 0.60%07/01/21 – 4,006,033 – 4,006,033 – 4,006,033 4,006,033 Prosperity Bank CD 0.70%07/15/21 – 5,007,459 – 5,007,459 – 5,007,459 5,007,459 East West Bank CD 0.32%08/18/21 – 2,000,772 – 2,000,772 – 2,000,772 2,000,772 Prosperity Bank CD 0.40%08/23/21 – 6,245,860 – 6,245,860 – 6,245,860 6,245,860 TOTAL / AVERAGE 0.54%249,992,313$ 50,481,840$ (60,175,598)$ 240,298,554$ 250,002,012$ (9,702,626)$ 240,299,385$ Valley View Consulting, L.L.C.6Page 100 of 170 City - Allocation Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater JPMorgan Chase Cash 9,505,298$ 9,505,298$ –$ –$ –$ –$ JPMorgan Chase MMA 433,983 433,983 – – – – Veritex Bank MMA 3,210,906 3,210,906 – – – – NexBank MMA 7,355,685 7,355,685 – – – – Origin Bank MMA 4,087,417 1,025,806 – – – – TexPool 28,793,102 28,793,102 – – – – TexSTAR 74,272,794 9,714,325 584,095 2,180,032 137,262 111,001 T-Bill 10/08/20 2,499,139 2,499,139 – – – – Independent Bank CD 10/18/20 2,534,811 2,534,811 – – – – East West Bank CD 11/09/20 3,006,607 3,006,607 – – – – Independent Bank CD 11/10/20 1,032,494 1,032,494 – – – – R Bank CD 11/19/20 2,521,930 2,521,930 – – – – Southside Bank CD 11/19/20 3,258,686 3,258,686 – – – – East West Bank CD 12/09/20 4,056,045 4,056,045 – – – – East West Bank CD 01/08/21 3,037,761 3,037,761 – – – – Independent Bank CD 02/05/21 3,126,261 3,126,261 – – – – Independent Bank CD 02/08/21 11,016,636 8,012,099 – – – – East West Bank CD 02/18/21 9,003,472 3,001,157 – – – – R Bank CD 02/19/21 4,036,263 4,036,263 – – – – Bank OZK CD 02/26/21 6,060,233 6,060,233 – – – – Southside Bank CD 03/11/21 5,000,000 5,000,000 – – – – Bank OZK CD 03/11/21 1,500,000 1,500,000 – – – – East West Bank CD 03/15/21 3,500,473 3,500,473 – – – – Prosperity Bank CD 04/01/21 4,004,525 4,004,525 – – – – Independent Bank CD 04/22/21 4,155,537 4,155,537 – – – – Bank OZK CD 05/10/21 12,028,372 10,023,644 – – – – Southside Bank CD 06/11/21 5,000,000 5,000,000 – – – – Bank OZK CD 06/11/21 5,000,000 5,000,000 – – – – Prosperity Bank CD 07/01/21 4,006,033 4,006,033 – – – – Prosperity Bank CD 07/15/21 5,007,459 5,007,459 – – – – East West Bank CD 08/18/21 2,000,772 – – – – – Prosperity Bank CD 08/23/21 6,245,860 6,245,860 – – – – Totals 240,298,554$ 159,666,122$ 584,095$ 2,180,032$ 137,262$ 111,001$ Book Value September 30, 2020 Valley View Consulting, L.L.C.7Page 101 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals Book Value September 30, 2020 (Continued) 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,508,021 1,531,341 68,584 1,451,130 1,503,917 318,392 178,392 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,508,021$ 1,531,341$ 68,584$ 1,451,130$ 1,503,917$ 318,392$ 178,392$ Valley View Consulting, L.L.C.8Page 102 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals Book Value September 30, 2020 (Continued) 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – 1,009,942 – – – – – – – – – – – - 97,352 3,839,337 56,681 672,097 497,544 11,241,692 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,004,537 – – – – – – 3,001,157 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,004,729 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – -$ 97,352$ 12,859,703$ 56,681$ 672,097$ 497,544$ 11,241,692$ Valley View Consulting, L.L.C.9Page 103 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals Book Value September 30, 2020 (Continued) 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Electric –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 2,051,669 – – – – – – – – – – – – – 2,645,268 113,926 2,003,965 2,603,558 650,415 8,955,332 3,501,541 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,001,157 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,772 – – – – – – – – – – – 7,698,094$ 113,926$ 4,004,737$ 2,603,558$ 650,415$ 8,955,332$ 3,501,541$ Valley View Consulting, L.L.C.10Page 104 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals Book Value September 30, 2020 (Continued) 2020 Revenue- Water/WW Electric-LCRA Transformers –$ –$ – – – – – – – – – – 7,447,141 9,660,452 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 7,447,141$ 9,660,452$ Valley View Consulting, L.L.C.11Page 105 of 170 City - Allocation September 30, 2020 Market Value Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater JPMorgan Chase Cash 9,505,298$ 9,505,298$ –$ –$ –$ –$ JPMorgan Chase MMA 433,983 433,983 – – – – Veritex Bank MMA 3,210,906 3,210,906 – – – – NexBank MMA 7,355,685 7,355,685 – – – – Origin Bank MMA 4,087,417 1,025,806 – – – – TexPool 28,793,102 28,793,102 – – – – TexSTAR 74,272,794 9,714,325 584,095 2,180,032 137,262 111,001 T-Bill 10/08/20 2,499,970 2,499,970 – – – – Independent Bank CD 10/18/20 2,534,811 2,534,811 – – – – East West Bank CD 11/09/20 3,006,607 3,006,607 – – – – Independent Bank CD 11/10/20 1,032,494 1,032,494 – – – – R Bank CD 11/19/20 2,521,930 2,521,930 – – – – Southside Bank CD 11/19/20 3,258,686 3,258,686 – – – – East West Bank CD 12/09/20 4,056,045 4,056,045 – – – – East West Bank CD 01/08/21 3,037,761 3,037,761 – – – – Independent Bank CD 02/05/21 3,126,261 3,126,261 – – – – Independent Bank CD 02/08/21 11,016,636 8,012,099 – – – – East West Bank CD 02/18/21 9,003,472 3,001,157 – – – – R Bank CD 02/19/21 4,036,263 4,036,263 – – – – Bank OZK CD 02/26/21 6,060,233 6,060,233 – – – – Southside Bank CD 03/11/21 5,000,000 5,000,000 – – – – Bank OZK CD 03/11/21 1,500,000 1,500,000 – – – – East West Bank CD 03/15/21 3,500,473 3,500,473 – – – – Prosperity Bank CD 04/01/21 4,004,525 4,004,525 – – – – Independent Bank CD 04/22/21 4,155,537 4,155,537 – – – – Bank OZK CD 05/10/21 12,028,372 10,023,644 – – – – Southside Bank CD 06/11/21 5,000,000 5,000,000 – – – – Bank OZK CD 06/11/21 5,000,000 5,000,000 – – – – Prosperity Bank CD 07/01/21 4,006,033 4,006,033 – – – – Prosperity Bank CD 07/15/21 5,007,459 5,007,459 – – – – East West Bank CD 08/18/21 2,000,772 – – – – – Prosperity Bank CD 08/23/21 6,245,860 6,245,860 – – – – Totals 240,299,385$ 159,666,953$ 584,095$ 2,180,032$ 137,262$ 111,001$ Valley View Consulting, L.L.C.12Page 106 of 170 City - Allocation September 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals (Continued) 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,508,021 1,531,341 68,584 1,451,130 1,503,917 318,392 178,392 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,508,021$ 1,531,341$ 68,584$ 1,451,130$ 1,503,917$ 318,392$ 178,392$ Valley View Consulting, L.L.C.13Page 107 of 170 City - Allocation September 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals (Continued) 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – 1,009,942 – – – – – – – – – – – - 97,352 3,839,337 56,681 672,097 497,544 11,241,692 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,004,537 – – – – – – 3,001,157 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,004,729 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – –$ 97,352$ 12,859,703$ 56,681$ 672,097$ 497,544$ 11,241,692$ Valley View Consulting, L.L.C.14Page 108 of 170 City - Allocation September 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals (Continued) 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Electric –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 2,051,669 – – – – – – – – – – – – – 2,645,268 113,926 2,003,965 2,603,558 650,415 8,955,332 3,501,541 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,001,157 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,772 – – – – – – – – – – – 7,698,094$ 113,926$ 4,004,737$ 2,603,558$ 650,415$ 8,955,332$ 3,501,541$ Valley View Consulting, L.L.C.15Page 109 of 170 City - Allocation September 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 East West Bank CD 02/18/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Southside Bank CD 03/11/21 Bank OZK CD 03/11/21 East West Bank CD 03/15/21 Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 East West Bank CD 08/18/21 Prosperity Bank CD 08/23/21 Totals (Continued) 2020 Revenue- Water/WW Electric-LCRA Transformers –$ –$ – – – – – – – – – – 7,447,141 9,660,452 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 7,447,141$ 9,660,452$ Valley View Consulting, L.L.C.16Page 110 of 170 City - Allocation Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$ JPMorgan Chase MMA 433,929 433,929 – – – – Veritex Bank MMA 3,208,928 3,208,928 – – – – NexBank MMA 7,346,749 7,346,749 – – – – Origin Bank MMA 10,798,033 4,080,098 – – – – TexPool 45,475,841 45,475,841 – – – – TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153 East West Bank CD 07/15/20 5,152,781 5,152,781 – – – – East West Bank CD 08/04/20 6,546,565 – – – – – R Bank CD 08/16/20 2,031,778 – – – – – R Bank CD 08/16/20 1,013,818 – – – – – Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – – T-Bill 10/08/20 2,489,236 2,489,236 – – – – Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – – East West Bank CD 11/09/20 3,002,442 3,002,442 – – – – Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – – R Bank CD 11/19/20 2,510,767 2,510,767 – – – – Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – – East West Bank CD 12/09/20 4,038,601 4,038,601 – – – – East West Bank CD 01/08/21 3,024,696 3,024,696 – – – – Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – – Independent Bank CD 02/08/21 11,000,000 8,000,000 – – – – R Bank CD 02/19/21 4,017,891 4,017,891 – – – – Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – – Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – – Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – – Totals 249,992,313$ 148,650,451$ 583,850$ 16,567,129$ 137,205$ 311,153$ June 30, 2020 Book Value Valley View Consulting, L.L.C.17Page 111 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals June 30, 2020 Book Value (Continued) 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436 182,203 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$ 182,203$ Valley View Consulting, L.L.C.18Page 112 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals June 30, 2020 Book Value (Continued) 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – 1,005,754 – – – – – – – – – – – 380,642 97,311 5,922,590 56,657 924,743 560,262 11,613,036 – – – – – – – – – – – – – 2,014,063 – – 2,031,778 – – – – – – 1,013,818 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,001,191 – – – – 380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$ 560,262$ 13,627,099$ Valley View Consulting, L.L.C.19Page 113 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals June 30, 2020 Book Value (Continued) 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Electric –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 4,743,154 – 969,028 – – – – – – – – – – – 2,607,390 439,319 2,472,153 5,767,255 650,141 9,001,959 5,011,090 – – – – – – – 3,514,104 – 1,018,398 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$ 9,001,959$ 5,011,090$ Valley View Consulting, L.L.C.20Page 114 of 170 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals June 30, 2020 Book Value (Continued) 2020 Revenue- Water/WW –$ – – – – – 9,302,024 – – – – – – – – – – – – – – – – – – – 9,302,024$ Valley View Consulting, L.L.C.21Page 115 of 170 City - Allocation June 30, 2020 Market Value Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$ JPMorgan Chase MMA 433,929 433,929 – – – – Veritex Bank MMA 3,208,928 3,208,928 – – – – NexBank MMA 7,346,749 7,346,749 – – – – Origin Bank MMA 10,798,033 4,080,098 – – – – TexPool 45,475,841 45,475,841 – – – – TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153 East West Bank CD 07/15/20 5,152,781 5,152,781 – – – – East West Bank CD 08/04/20 6,546,565 – – – – – R Bank CD 08/16/20 2,031,778 – – – – – R Bank CD 08/16/20 1,013,818 – – – – – Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – – T-Bill 10/08/20 2,498,935 2,498,935 – – – – Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – – East West Bank CD 11/09/20 6,002,442 3,002,442 – – – – Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – – R Bank CD 11/19/20 2,510,767 2,510,767 – – – – Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – – East West Bank CD 12/09/20 4,038,601 4,038,601 – – – – East West Bank CD 01/08/21 3,024,696 3,024,696 – – – – Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – – Independent Bank CD 02/08/21 8,000,000 8,000,000 – – – – R Bank CD 02/19/21 4,017,891 4,017,891 – – – – Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – – Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – – Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – – Totals 250,002,012$ 148,660,149$ 583,850$ 16,567,129$ 137,205$ 311,153$ Valley View Consulting, L.L.C.22Page 116 of 170 City - Allocation June 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals (Continued) 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436 182,203 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$ 182,203$ Valley View Consulting, L.L.C.23Page 117 of 170 City - Allocation June 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals (Continued) 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – 1,005,754 – – – – – – – – – – – 380,642 97,311 5,922,590 56,657 924,743 560,262 11,613,036 – – – – – – – – – – – – – 2,014,063 – – 2,031,778 – – – – – – 1,013,818 – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,001,191 – – – – 380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$ 560,262$ 13,627,099$ Valley View Consulting, L.L.C.24Page 118 of 170 City - Allocation June 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals (Continued) 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Electric –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – 4,743,154 – 969,028 – – – – – – – – – – – 2,607,390 439,319 2,472,153 5,767,255 650,141 9,001,959 5,011,090 – – – – – – – 3,514,104 – 1,018,398 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$ 9,001,959$ 5,011,090$ Valley View Consulting, L.L.C.25Page 119 of 170 City - Allocation June 30, 2020 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Origin Bank MMA TexPool TexSTAR East West Bank CD 07/15/20 East West Bank CD 08/04/20 R Bank CD 08/16/20 R Bank CD 08/16/20 Prosperity Bank CD 08/21/20 T-Bill 10/08/20 Independent Bank CD 10/18/20 East West Bank CD 11/09/20 Independent Bank CD 11/10/20 R Bank CD 11/19/20 Southside Bank CD 11/19/20 East West Bank CD 12/09/20 East West Bank CD 01/08/21 Independent Bank CD 02/05/21 Independent Bank CD 02/08/21 R Bank CD 02/19/21 Bank OZK CD 02/26/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Totals (Continued) 2020 Revenue- Water/WW –$ – – – – – 9,302,024 – – – – – – – – – – – – – – – – – – – 9,302,024$ Valley View Consulting, L.L.C.26Page 120 of 170 Georgetown Transportation Enhancement Corporation (GTEC) QUARTERLY INVESTMENT REPORT For the Quarter Ended September 30, 2020 Prepared by Valley View Consulting, L.L.C. The investment portfolio of the Georgetown Transportation Enhancement Corporation (GTEC) is in compliance with the Texas Public Funds Investment Act and the Investment Policy and Strategies. ________________________________________________________________________ Elaine Wilson Leigh Wallace Controller Finance Director ___________________________________ Karrie Pursley Treasurer Disclaimer: These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees. Page 121 of 170 FYE Results by Investment Category: Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value Pools/MMAs 2.17%15,333,145$ 15,333,145$ 0.15%26,283,802$ 26,283,802$ Certificates of Deposit 2.71%5,218,739 5,218,739 0.40%3,001,377 3,001,377 Totals 20,551,884$ 20,551,884$ 29,285,179$ 29,285,179$ Fourth Quarter-End Yield 2.31%0.17% Average Quarter-End Yields (1): 2019 Fiscal Year 2020 Fiscal Year GTEC 2.38%0.97% Rolling Three Month Treasury 2.30%0.76% Rolling Six Month Treasury 2.37%0.99% TexPool 2.31%0.76% (1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value. Annual Comparison of Portfolio Performance September 30, 2019 September 30, 2020 Valley View Consulting, L.L.C.1Page 122 of 170 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield Pools/MMAs 26,000,055$ 26,000,055$ 26,283,802$ 26,283,802$ 0.15% CDs/Securities 3,222,395 3,222,395 3,001,377 3,001,377 0.40% Totals 29,222,450$ 29,222,450$ 29,285,179$ 29,285,179$ 0.17% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.17%Total Portfolio 0.97% Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76% Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99% TexPool 0.15%TexPool 0.76% Interest data provided in separate report. June 30, 2020 (1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank, pool, and money market balances. (2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. September 30, 2020 Valley View Consulting, L.L.C. 2Page 123 of 170 Economic Overview 9/30/2020 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%), and projected that reduced rates could remain through 2024. Final estimate of Second Quarter GDP revised to down 31.4% (from down 31.9%). The Yield Curve remained stable. Crude oil slid to below $40 per barrel. September Non Farm Payroll added 661k workers. Business added over 800k, but governments shed 200+k. The Stock Markets retreated slightly from all-time highs. Housing strengthened due to low mortgage rates. Additional federal economic assistance remained stalled in Congress. 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 3,500 3,750 S&P 500 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 US Treasury Historical Yields - Since Nov 2015 Six Month T-Bill Two Year T-Note Ten Year T-Note 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Treasury Yield Curves September 30, 2019 June 30, 2020 September 30, 2020 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 US Treasury Historical Yields - Since 2006 Six Month T-Bill Two Year T-Note Ten Year T-Note Valley View Consulting, L.L.C.3Page 124 of 170 Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield TexPool AAAm 0.15%10/01/20 09/30/20 10,744,412$ 10,744,412$ 1.00 10,744,412$ 1 0.15% TexSTAR AAAm 0.13%10/01/20 09/30/20 12,852,913 12,852,913 1.00 12,852,913 1 0.13% Veritex Bank MMA 0.20%10/01/20 09/30/20 2,686,477 2,686,477 1.00 2,686,477 1 0.20% Prosperity Bank CD 0.40%08/23/21 08/21/20 3,001,377 3,001,377 100.00 3,001,377 327 0.40% TOTALS 29,285,179$ 29,285,179$ 29,285,179$ 34 0.17% (1)(2) September 30, 2020 (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. Valley View Consulting, L.L.C.4Page 125 of 170 Pools/MMAs 90% CDs/Securities 10% GTEC PORTFOLIO COMPOSITION $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $43,830.00 3/31/2020 6/30/2020 9/30/2020 GTEC PORTFOLIO BALANCES CD TexPool TexSTAR Money Market Valley View Consulting, L.L.C. 5Page 126 of 170 Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 06/30/20 Increases Decreases Book Value 09/30/20 Market Value 06/30/20 Change in Market Value Market Value 09/30/20 TexPool 0.15%10/01/20 7,942,833$ 2,801,579$ –$ 10,744,412$ 7,942,833$ 2,801,579$ 10,744,412$ TexSTAR 0.13%10/01/20 13,332,342 – (479,429) 12,852,913 13,332,342 (479,429) 12,852,913 Origin Bank MMA 0.00%10/01/20 2,040,058 – (2,040,058) – 2,040,058 (2,040,058) – Veritex Bank MMA 0.20%10/01/20 2,684,822 1,655 – 2,686,477 2,684,822 1,655 2,686,477 East West Bank CD 1.72%08/04/20 3,222,395 – (3,222,395) – 3,222,395 (3,222,395) – Prosperity Bank CD 0.40%08/23/21 – 3,001,377 – 3,001,377 – 3,001,377 3,001,377 TOTAL / AVERAGE 0.17%29,222,450$ 5,804,611$ (5,741,882)$ 29,285,179$ 29,222,450$ 62,729$ 29,285,179$ Valley View Consulting, L.L.C.6Page 127 of 170 Georgetown Economic Development Corporation (GEDCO) QUARTERLY INVESTMENT REPORT For the Quarter Ended September 30, 2020 Prepared by Valley View Consulting, L.L.C. The investment portfolio of the Georgetown Economic Development Corporation (GEDCO) is in compliance with the Texas Public Funds Investment Act and the Investment Policy and Strategies. ________________________________________________________________________ Elaine Wilson Leigh Wallace Controller Finance Director ___________________________________ Karrie Pursley Treasurer Disclaimer: These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees. Page 128 of 170 Annual Comparison of Portfolio Performance FYE Results by Investment Category: Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value Demand Accounts 2.25%2,106,292$ 2,106,292$ 0.20%2,129,054$ 2,129,054$ Pools 2.12%6,142,598 6,142,598 0.14%5,746,114 5,746,114 Certificates of Deposit 0.00%– – 1.70%2,016,943 2,016,943 Totals 8,248,890$ 8,248,890$ 9,892,111$ 9,892,111$ Fourth Quarter-End Yield 2.15%0.47% Average Quarter-End Yields (1): 2019 Fiscal Year 2020 Fiscal Year GEDCO 2.34%0.98% Rolling Three Month Treasury 2.30%0.76% Rolling Six Month Treasury 2.37%0.99% TexPool 2.31%0.75% (1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value. September 30, 2019 September 30, 2020 Valley View Consulting, L.L.C.1Page 129 of 170 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield MMA 2,127,743$ 2,127,743$ 2,129,054$ 2,129,054$ 0.20% Pools 5,210,899 5,210,899 5,746,114 5,746,114 0.14% Certificates of Deposit 2,008,361 2,008,361 2,016,943 2,016,943 1.70% 9,347,002$ 9,347,002$ 9,892,111$ 9,892,111$ 0.47% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.47%Total Portfolio 0.98% Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76% Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99% TexPool 0.15%TexPool 0.75% Interest income provided in separate report. June 30, 2020 (1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank, pool, and money market balances. (2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. September 30, 2020 Valley View Consulting, L.L.C. 2Page 130 of 170 Economic Overview 9/30/2020 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading +/-0.10%), and projected that reduced rates could remain through 2024. Final estimate of Second Quarter GDP revised to down 31.4% (from down 31.9%). The Yield Curve remained stable. Crude oil slid to below $40 per barrel. September Non Farm Payroll added 661k workers. Business added over 800k, but governments shed 200+k. The Stock Markets retreated slightly from all-time highs. Housing strengthened due to low mortgage rates. Additional federal economic assistance remained stalled in Congress. 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 3,500 3,750 S&P 500 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 US Treasury Historical Yields - Since Nov 2015 Six Month T-Bill Two Year T-Note Ten Year T-Note 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Treasury Yield Curves September 30, 2019 June 30, 2020 September 30, 2020 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 US Treasury Historical Yields - Since 2006 Six Month T-Bill Two Year T-Note Ten Year T-Note Valley View Consulting, L.L.C.3Page 131 of 170 Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield Veritex Bank MMA 0.20%10/01/20 09/30/20 2,129,054$ 2,129,054$ 1.00 2,129,054$ 1 0.20% TexasDAILY AAAm 0.14%10/01/20 09/30/20 2,124,759 2,124,759 1.00 2,124,759 1 0.14% TexSTAR AAAm 0.13%10/01/20 09/30/20 3,621,355 3,621,355 1.00 3,621,355 1 0.13% Independent Bank 1.70%02/05/21 02/05/20 2,016,943 2,016,943 100.00 2,016,943 128 1.70% 9,892,111$ 9,892,111$ 9,892,111$ 27 0.47% (1)(2) September 30, 2020 (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. Valley View Consulting, L.L.C.4Page 132 of 170 MMA 22% Pools 58% Certificates of Deposit 20% GEDCO PORTFOLIO COMPOSITION $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 12/31/19 03/31/20 06/30/20 09/30/20 GEDCO PORTFOLIO BALANCES CD TexasDAILY TexSTAR Money Market Valley View Consulting, L.L.C. 5Page 133 of 170 Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 06/30/20 Increases Decreases Book Value 09/30/20 Market Value 06/30/20 Change in Market Value Market Value 09/30/20 Veritex Bank MMA 0.20%10/01/20 2,127,743$ 1,312$ –$ 2,129,054$ 2,127,743$ 1,312$ 2,129,054$ TexasDAILY 0.14%10/01/20 2,123,848 911 – 2,124,759 2,123,848 911 2,124,759 TexSTAR 0.13%10/01/20 3,087,051 534,304 – 3,621,355 3,087,051 534,304 3,621,355 Independent Bank 1.70%02/05/21 2,008,361 8,582 – 2,016,943 2,008,361 8,582 2,016,943 TOTAL / AVERAGE 0.47%9,347,002$ 545,109$ –$ 9,892,111$ 9,347,002$ 545,109$ 9,892,111$ Valley View Consulting, L.L.C.6Page 134 of 170 Department Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized Airport Texas Department of Transportation-Aviation M1914GEOR RAMP Grant - Routine Airport Maintenance Program 80,330.44 39,854.05 Airport Texas Department of Transportation-Aviation 1914GEORG Taxiway Lighting Project 888,592.22 799,733.00 Airport Texas Department of Transportation - Aviation Airport CARES Funding - - Emergency Management Williamson County WILCO Forward - CARES Funding for COVID-19 163,464.42 163,464.42 Fire CMS (Centers for Medicare & Medicaid Services) EMS CARES Round 1 - 76,174.22 Fire Federal Emergency Management Agency EMW-2017-FH-00496 SAFER 965,530.36 718,166.92 Fire Texas Department of Public Safety - TDEM TX-TIFMAS-200013 TIFMAS - Hurricane Laura Deployment 10,816.58 10,816.58 Fire Texas Department of Public Safety - TDEM TEEX Tracy Ryan Deployment Urban Search and Rescue (US&R) - 12,207.45 Library National Endowment for the Arts COVID Relief Funding - 5,362.00 Library Texas Commission on the Arts Arts Respond Project Grant 5,362.00 5,362.00 Planning Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps along 17th St 149,737.75 149,737.75 Planning Williamson County CDBG Home Repair 31,940.23 31,940.23 Police N/A KXPIIIA Bullet Proof Vests - Supply Police with new vests 3,581.80 1,554.48 Police N/A TX2460200 Equitable Sharing Agreement 73,561.78 - Police N/A TX2460200 Equitable Sharing Agreement 6,372.08 12,339.76 Public Works Texas Department of Transportation CSJ-0914-05-187 Highway Planning & Construction (Austin Ave Bridge) 220,121.89 - CITY OF GEORGETOWN Grant/Federal Funding Report as of September 30, 2020 Active Page 135 of 170 Public Works Texas Department of Transportation CSJ-0914-05-200,201,202 Highway Planning & Construction (Williams Dr Corridor) - - Parks Federal Highway Administration RT017010 Recreation San Gabriel Trails $ 461,345.71 200,000.00 Reviewed By: Elaine Wilson Page 136 of 170 Capital Improvement Projects Report, Life-to-Date Budget and Spend Row Labels Total Budget Total Spend Remaining Budget Percent Remaining CDBG CDBG PRJ000003 17th Street 193,000 167,777 25,223 13.07% CDBG Total 193,000 167,777 25,223 13.07% CDBG Total 193,000 167,777 25,223 13.07% CIP Street Maintenance Public Works Department PRJ000013 Austin Avenue Bridge 2,855,398 1,729,082 1,126,316 39.45% PRJ000172 2020 Street Maintenance High Performance Seal: Bid Package No.1 372,200 287,620 84,580 22.72% PRJ000173 2020 Street Maintenance High Performance Seal: Bid Package No. 2 463,195 482,214 (19,020) -4.11% PRJ000174 2020 street maintenance HIPR 1,935,589 1,118,283 817,306 42.23% PRJ000210 2021 HIPR Street Maintenance 2,300,000 - 2,300,000 100.00% PRJ000211 2021 High Performance Pavement Seal Project #1 600,000 - 600,000 100.00% PRJ000212 2021 High Performance Pavement Seal Project #2 600,000 - 600,000 100.00% Public Works Department Total 9,126,381 3,617,199 5,509,182 400.29% CIP Street Maintenance Total 9,126,381 3,617,199 5,509,182 400.29% Downtown TIRZ Parks PRJ000050 Grace Heritage Plaza 139,100 45,900 93,200 67.00% Parks Total 139,100 45,900 93,200 67.00% Downtown TIRZ Total 139,100 45,900 93,200 67.00% Electric Electric PRJ000022 Consultant Engineering 150,000 21,352 128,648 85.77% PRJ000026 Db Wood_Sh29 Intersection 240,000 288,822 (48,822) -20.34% PRJ000036 Electrical System Improvement 100,000 57 99,943 99.94% PRJ000040 Fiber Optic 50,000 19,516 30,484 60.97% PRJ000062 New Development Projects 3,260,000 3,842,269 (582,269) -17.86% PRJ000073 Power Quality Improvements 50,000 - 50,000 100.00% PRJ000095 Shell Road Feeders 160,000 163,280 (3,280) -2.05% PRJ000147 Sectionalization Improvements 100,000 - 100,000 100.00% PRJ000175 I-35 Mobility Project TxDot 200,000 62,519 137,481 68.74% PRJ000189 Ronald Reagan - Glasscock Feeder Extension along Hwy 195 -Phase I & II 560,000 - 560,000 100.00% Electric Total 4,870,000 4,397,815 472,185 575.16% Electric Total 4,870,000 4,397,815 472,185 575.16% Page 137 of 170 Capital Improvement Projects Report, Life-to-Date Budget and Spend Row Labels Total Budget Total Spend Remaining Budget Percent Remaining GCP Environmental Services PRJ000116 Transfer Station 5,528,786 671,781 4,857,005 87.85% Environmental Services Total 5,528,786 671,781 4,857,005 87.85% Finance PRJ000038 ERP Project 6,216,384 5,618,293 598,091 9.62% Finance Total 6,216,384 5,618,293 598,091 9.62% Fire PRJ000134 SCBA Replacement 880,000 - 880,000 100.00% PRJ000135 Cardiac Monitors 483,517 - 483,517 100.00% Fire Total 1,363,517 - 1,363,517 200.00% Fleet PRJ000124 Radio Replacement 129,000 - 129,000 100.00% Fleet Total 129,000 - 129,000 100.00% GTEC Department PRJ000203 FM1460 Widening 20,000 - 20,000 100.00% PRJ000206 NB Front Rd (2338 To Lakeway) 216,000 221,766 (5,766) -2.67% GTEC Department Total 236,000 221,766 14,234 97.33% Management Services PRJ000028 Downtown Parking Expansion 728,510 701,947 26,564 3.65% PRJ000029 Downtown Parking Garage 411,815 114,610 297,205 72.17% PRJ000033 Dtwn Landsping & Public Art 90,000 5,746 84,254 93.62% PRJ000037 EOC Siren System 15,525 - 15,525 100.00% PRJ000042 Fire Station 6 5,861,202 5,212,806 648,396 11.06% PRJ000043 Fire Station 7 6,747,260 6,282,255 465,005 6.89% PRJ000067 Parking Improvements 68,510 - 68,510 100.00% PRJ000131 Fuel Station 1,100,000 - 1,100,000 100.00% PRJ000136 GMC Remodel Phase I 250,000 - 250,000 100.00% PRJ000180 Recreation Center Natatorium HVAC Replacement 800,000 - 800,000 100.00% Management Services Total 16,072,822 12,317,364 3,755,458 687.39% Page 138 of 170 Capital Improvement Projects Report, Life-to-Date Budget and Spend Row Labels Total Budget Total Spend Remaining Budget Percent Remaining Parks PRJ000048 Garey Park 15,344,472 15,091,857 252,615 1.65% PRJ000055 Katy Crossing Trail 700,000 - 700,000 100.00% PRJ000089 San Gabriel Park Improvement 13,025,000 7,332,849 5,692,151 43.70% PRJ000125 Parks Master Plan 200,000 - 200,000 100.00% PRJ000126 Regional Trail Development 128,600 6,659 121,941 94.82% PRJ000127 Neighborhood Park Development 1,250,000 193,397 1,056,603 84.53% PRJ000129 Ada Transition Plan 900,405 275,982 624,423 69.35% PRJ000130 Tennis Center Pool Demo 70,000 - 70,000 100.00% PRJ000205 Katy Crossing Trail 700,000 500,181 199,819 28.55% Parks Total 32,318,477 23,400,924 8,917,553 622.59% Police PRJ000133 Body Cameras 802,000 737,412 64,588 8.05% Police Total 802,000 737,412 64,588 8.05% Public Works - Self Managed Department PRJ000204 Historic District Street Signs 26,000 - 26,000 100.00% Public Works - Self Managed Department Total 26,000 - 26,000 100.00% Public Works Department PRJ000137 Intersection Improvements (Lakeway @ Williams Drive) 1,400,000 121,600 1,278,400 91.31% PRJ000138 Downtown Sidewalks 1,000,000 428,034 571,966 57.20% PRJ000139 Westinghouse - Scenic Lake Traffic Signal 600,000 31,950 568,051 94.68% PRJ000141 Southwestern Blvd 4,000,000 613,677 3,386,323 84.66% PRJ000143 Leander Rd(Norwood-Swbypass) 5,538,000 113,462 5,424,539 97.95% PRJ000171 Shell Rd Sidewalk 229,825 203,755 26,070 11.34% PRJ000201 Austin Ave. (Sh29-Fm2243) 466,000 466,000 - 0.00% PRJ000202 FM 971 4,853,000 1,047,014 3,805,986 78.43% PRJ000207 Northwest Blvd Bridge 11,250,000 6,785,085 4,464,915 39.69% PRJ000208 Old Town Northeast 1,050,000 905,751 144,249 13.74% PRJ000209 Southeast Inner Loop 10,521,000 3,931,937 6,589,063 62.63% PRJ000214 Intersection Improvements (Traffic Signals) 1,650,000 - 1,650,000 100.00% PRJ000215 2021 Intersection Safety Enhancements (RRFB) 150,000 - 150,000 100.00% PRJ000216 FY21 Downtown Sidewalk Improvements 1,000,000 - 1,000,000 100.00% PRJ000217 SW Bypass - Wolf Ranch Extension 1,000,000 25,627 974,373 97.44% Public Works Department Total 44,707,825 14,673,892 30,033,933 1029.06% Right of Way PRJ000200 Access Rtw To Government Srv 220,000 220,000 - 0.00% Right of Way Total 220,000 220,000 - 0.00% GCP Total 107,620,810 57,861,432 49,759,379 2941.89% Page 139 of 170 Capital Improvement Projects Report, Life-to-Date Budget and Spend Row Labels Total Budget Total Spend Remaining Budget Percent Remaining General Fund Right of Way PRJ000007 Access Rtw To Government Srv 220,000 - 220,000 100.00% Right of Way Total 220,000 - 220,000 100.00% General Fund Total 220,000 - 220,000 100.00% Page 140 of 170 Capital Improvement Projects Report, Life-to-Date Budget and Spend Row Labels Total Budget Total Spend Remaining Budget Percent Remaining GTEC GTEC Department PRJ000046 FM 971/ Fontana (Nw Bridge) 1,209,000 1,193,000 16,000 1.32% PRJ000053 IH 35/ Hwy 29 Intersection Imp 1,800,000 120,066 1,679,934 93.33% PRJ000060 Rabbit Hill Road 4,100,000 88,429 4,011,571 97.84% PRJ000083 Rivery Tia Improvements 1,179,000 1,094,839 84,161 7.14% PRJ000145 Sh29 Signal And Roadway Improvements 1,595,000 - 1,595,000 100.00% GTEC Department Total 9,883,000 2,496,335 7,386,665 299.63% GTEC Total 9,883,000 2,496,335 7,386,665 299.63% Stormwater Stormwater PRJ000004 18th and Hutto Drainage 50,000 5,969 44,031 88.06% PRJ000005 2nd and Rock Pond 500,000 447,151 52,849 10.57% PRJ000024 2020 Curb & Gutter 1,055,000 327,047 727,953 69.00% PRJ000104 Stormwater Infrastructure 347,000 58,948 288,053 83.01% PRJ000148 Water Quality Ponds 98,000 - 98,000 100.00% PRJ000149 Drainage Improvement/Flood Mitigation Projects 300,000 - 300,000 100.00% PRJ000213 2021 Curb & Gutter Project 500,000 - 500,000 100.00% Stormwater Total 2,850,000 839,115 2,010,885 550.64% Stormwater Total 2,850,000 839,115 2,010,885 550.64% Transportation Public Works Department PRJ000045 FM 971 2,000 (21,684) 23,684 1184.20% PRJ000063 Northwest Blvd Bridge 21,743,000 (181,880) 21,924,880 100.84% PRJ000065 Old Town Northeast 855,021 (19,064) 874,085 102.23% PRJ000100 Southeast Inner Loop 3,321,000 - 3,321,000 100.00% Public Works Department Total 25,921,021 (222,628) 26,143,649 1487.27% Transportation Total 25,921,021 (222,628) 26,143,649 1487.27% Page 141 of 170 Capital Improvement Projects Report, Life-to-Date Budget and Spend Row Labels Total Budget Total Spend Remaining Budget Percent Remaining Water Water PRJ000014 Berry Creek Inter. 49,949,000 94,371 49,854,629 99.81% PRJ000016 Braun Est 4,750,000 1,194,910 3,555,090 74.84% PRJ000023 Cr 255 (Wd14-2)1,493,963 - 1,493,963 100.00% PRJ000025 Db Wood/ Pastor 24 Dedicated 5,286,000 423,726 4,862,274 91.98% PRJ000034 Earz 2,326,000 303,945 2,022,055 86.93% PRJ000059 LWTP Raw Water Intake Rehab 18,750,000 1,879,144 16,870,856 89.98% PRJ000066 Park Lift Station & Force Main 3,574,341 683,007 2,891,334 80.89% PRJ000069 Pecan Branch Ph 2 253,000 232,521 20,479 8.09% PRJ000075 Pumps & Storage 1,000,000 9,289 990,711 99.07% PRJ000085 Ronald Reagan/Daniels Mountain 4,400,000 138,046 4,261,954 96.86% PRJ000087 S. Lake Wtp 2018 6,950,000 - 6,950,000 100.00% PRJ000088 San Gabriel Belt Press and Rehab 3,200,000 2,448,071 751,929 23.50% PRJ000096 Shell Road Water Line 6,890,000 856,000 6,034,000 87.58% PRJ000101 Southlake Wtp 100,000,000 460,012 99,539,988 99.54% PRJ000119 Water Mains 1,637,000 335,744 1,301,256 79.49% PRJ000123 WW Interceptors 608,431 - 608,431 100.00% PRJ000150 Carriage Oaks Transmission 500,000 - 500,000 100.00% PRJ000151 FY2020 CR262 Waterline 500,000 - 500,000 100.00% PRJ000152 FY2020 Hoover Pump Station 750,000 - 750,000 100.00% PRJ000154 FY2020 Stonewall Ranch Ps Improvements 500,000 - 500,000 100.00% PRJ000155 FY2020 Southside Water Treatment Plant 2,250,000 - 2,250,000 100.00% PRJ000156 FY2020 Gatlin/Teravista Improvements 450,000 - 450,000 100.00% PRJ000157 Leander Interconnect 450,000 32,962 417,038 92.68% PRJ000158 West loop (H-1A) 2,119,000 447,385 1,671,615 78.89% PRJ000160 FY2020 Round Rock Supply Pump Station And Elevated Storage Tank 9,200,000 455,755 8,744,245 95.05% PRJ000161 Miscellaneous Line Upgrades 622,000 346,608 275,392 44.28% PRJ000162 South West Bypass Water (H24-1) 2,906,000 1,266,311 1,639,689 56.42% PRJ000163 Tank Rehabilitation 2,905,000 51,247 2,853,753 98.24% PRJ000164 Council Chamber Water 423,000 15,960 407,040 96.23% PRJ000165 San Gabriel Wwtp Rehab 2,500,000 17,045 2,482,955 99.32% PRJ000167 San Gabriel Inter SGI -2 4,500,000 - 4,500,000 100.00% PRJ000168 WWTP Upgrade 1,150,000 - 1,150,000 100.00% PRJ000177 Northlake WTP Phase IV Expansion 15,000,000 - 15,000,000 100.00% Water Total 257,792,735 11,692,059 246,100,676 2879.66% Water Total 257,792,735 11,692,059 246,100,676 2879.66% Grand Total 418,616,047 80,895,004 337,721,044 9314.62% Page 142 of 170 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20 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. Depending on the economic impacts of COVID, the General Fund  may not make this transfer in FY2020. Additionally, the FY2021  budget has reduced this transfer.  The general fund transfer for FY2021 was reduced to $35,000.   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 9/30/2019, the net pension liability is $28.8 million and is  81.41% funded. The 2020 total combined contribution rate is  12.26%. This increase is due to a change in the discount rate. No change. New report not yet released by TMRS. Other Post Employee Benefits  (OPEB) While the City has no obligation to offer additional retiree  benefits, retirees are eligible to participate in the City’s  health insurance program.  That ability represents a subsidy  that impacts health insurance costs to the City. Retirees pay  their monthly premiums to the self insurance fund, which  then processes their health insurance claims.    OPEB liability as of 9/30/2019 is $3.3 million. This is a combination  of sudden death benefits as well as post‐retirement healthcare.No change. 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 City  keeps a reserve in the General Fund to help offset large  payouts for long‐term employees. The reserve is used as  needed, and annually replenished or increased based on  known risk. OPEB liability as of 9/30/2019 is $3.3 million. This is a combination  of sudden death benefits as well as post‐retirement healthcare.No change. 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.  Staff are projecting to sell transformer assets to a third party by the  end of the fiscal year, as well as to make a second installment in the  sale of the fiber asset to the IT Fund. These one‐time influxes of  cash are helping to restore reserves to the fund. The sale of transformer and fiber assets were booked to the 4th  Quarter. Net Purchased Power also ended the year on budget.  FY2020 ending fund balance is projected to fully fund the 90 day  contingency of $4.1 million, and begin to restore the rate  stabilization reserve. CITY OF GEORGETOWN Long-term Commitments, Reservations, and Other Unfunded Liabilities 9/30/2020 Page 143 of 170 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20 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.  No change Staff will be working on three (3) CARES Act purchases: 1)  Emergency Generator, 2) Solar Powered Taxiway lights, and 3)  Cattleguards for the North and South Gates to mitigate willife  entering the airfield.  These projects were unfunded, but will be  reimbursed through TxDOT from the CARES Act grant from the FAA.   We are also going to be looking at Land Lease buildings that will be  reverting back to Airport Ownership within the next 5 years. These  reversions will  impact the budget bottom line as we will have to do  some maintenance on the buildings.  These charges will be off‐set  by the increased revenue from the increased Facility Lease Rates. 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 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.  Old Town NE sidewalk is completed and all punch list items are  done. Project will close out in July.                                                               In design is the Rock Sidewalk/FY20 Downtown ADA Sidewalk  Improvements. This project will construct new and rehab/replace  non‐ADA compliant sidewalks and pedestrian ramps. Project will bid  mid to late November with constrctuion starting after the new year.  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. Golden Bear Park development is underway and is expected to be  complete in August.  The development consists of age appropriate  play equipment,  accessible sidewalks, pergola, and landscaping.   (This is a bond funded project) University Park and Raintree Park equipment and the outdoor pool  slides at the Recreation Center were scheduled to be completed in  FY2020.  However, these were deferred due to financial constraints  related to COVID‐19.  These deferrals total $290,000.  Additionally,  the general fund transfer for FY2021 was reduced from $200,000 to  $50,000.  Scheduled maintenance equipment and replacement  projects for FY2021 total $402,000 not including the FY2021  deferrals.  Staff has evaluated the FY2020 deferrals and the  scheduled FY2021 replacements and prioritized to complete  projects with greatest need.  These total $293,000 and will be  completed with the $50,000 transfer and existing fund balance.   Page 144 of 170 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20 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.  There will not be any new radios purchased in FY2020 budget  because they were taken out of the debt sale due to market  uncertainty related to COVID‐19.  There will be debt issued in  FY2021 for the final year of the replacement project.   FY2021 Budget will fund the radios deferred in FY2020. Additionally,  the Electric Fund plans to fund 10 radios that were deferred for  several years to reduce costs. The Electric Fund has improved its  financial position, and the equipment needs to be replaced for  employee safety. 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. Due to the COVID‐19 pandemic, the Street Maintenance budget in  the General Fund was reduced in FY2021. The Streets Special  Revenue Fund will pick up some of the expenses, but not all. No change. Fiber Asset Allocation Network fiber infrastructure is installed across the City.  Traditionally, the Electric Fund has installed and maintained  the network. In reviewing all costs for the Electric Fund, the  City has begun moving the fiber asset to the IT Fund. Staff  must develop a multi‐year strategy to complete the asset  transfer and allocate costs for maintenance. Fiber staff will be moved into IT at beginning of FY 21.  Also in FY  2021, Fiber costs will be allocated across departments according to  the IT allocation process.  The second installment to acquire the  asset will be paid in FY2020, and there is a plan to assume  additional installments over the next 4 years. The IT Fund will need  to increase cost recovery rates to complete the acquisition. No change. IT Capital Replacement  Reserve The purpose of this reserve is to fund the maintenance and  replacement of computer network and other technology  systems. A reserve will be established within the ISF for  replacement of major systems and will be funded over time  through excess revenues within the Fund.  The targeted  amount is the average (1/5th) of the next five years on the  replacement schedule.  During the FY2021 budget adoption process, the IT capital  replacement reserve was drawn down in order to purchase a  portion of the fiber asset from the Electric utility. In FY2022, IT  Allocation revenues will need to increase citywide to recover the  fund balance and continue with the remaining fiber asset purchase. Facilities Maintenance Reserve The City has established an on‐going maintenance program,  which includes major repairs, equipment, as well as  contracts for maintaining City facilities. The City has  anticipated a useful life of such equipment and established  a means of charging those costs to the various departments  in order to recognize the City’s continuing costs of  maintaining its facilities.  Determination for facility repairs is  based on useful life of the various elements of each facility.   A proportional cost for each element is expensed within the  budget for capital replacement.  The targeted replacement  reserve amount is the average (1/5th) of the next five years  on the replacement schedule.  During the FY2021 budget adoption process, the Facilities cost  allocation revenue was not increased. This provided some economic  relief throughout major funds due to COVID economic uncertainty.  Therefore, no incremental progress was made to fund this reserve.  In FY2022 or future years, rates will need to increase to fund this  reserve.  Page 145 of 170 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20 Public Safety Equipment  Recurring Line Item Budgets As part of the City’s on‐going maintenance program, the  City also recognizes the need to regularly maintain and  replace specialized equipment in Police and Fire.  Separate  replacement and maintenance schedules will be maintained  for these items including but not limited to for Fire:   SCBA’s  and other firefighting equipment and protective gear; and  for Police: bullet proof vests, armaments and other tactical  equipment.  The City’s goal is to provide level on‐going  funding to ensure proper protection for employees and  residents. The current funding level is an annual  appropriation in the General Fund of $80,000 for Fire and  $88,000 for Police. Due to the economic impacts of the pandemic, reductions were  made to General Fund base budgets in FY2021, including public  safety equipment. There is no anticipated impact to employee  safety. The funds will need to be restored in FY2022, or as soon as  practical. No change. Joint Services Fund 90 Day  Operational Contingency  Reserve A minimum ninety (90) days of operating expenses will be  reserved for unexpected delays in revenue or emergency  expenses.  Due to the economic impact of the pandemic, the City is not  increasing recovery rates to build this reserve. It is estimated to take  approximately 3 years to build the reserve to 90 days. The FY2021  budget provide funding to hire a consultant to review and  recommend updates to the City's joint services cost allocation  model. Page 146 of 170 City of Georgetown, Texas City Council Workshop D ecember 8, 2020 S UBJEC T: P resentation and discussion regarding the F Y202 0 Ye ar-End Budget Amendment -- Nathan P arras, Assistant Finance Director 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 re venue and expense year-end projections compared to the annual budget. The attached presentation summarizes the budget changes by fund and departme nt required to comply with the City Charter. Detailed information is included in the attached Exhibit A. The changes to these funds were generally already reviewed by Council during the summe r budget development process and no w clean-up action is being taken at year-end. Due to ongo ing accounting activity and review, the financial impact and the attachments will be po ste d on December 4, 2020. F I NANC I AL IMPAC T: The proposed budge t amendment increases total appropriatio ns by $1,053,780 using re venues and available balance in several funds. S UBMI T T ED BY: Sharon P arker AT TAC HMENT S : Description YEBA P res entatio n 2020 YEBA Exhibit Page 147 of 170 FY2020 Annual Budget Year End Budget Amendment FY 2020 Page 148 of 170 FY2020 Annual Budget The Budget Process •During the summer of 2020, staff and Council review revenues and spending, and make projections for how the fiscal year will end. •Projections and adjustments continue after the mid-year budget amendment. •For charter compliance, it is sometimes necessary to authorize appropriations in a year-end budget amendment. Page 149 of 170 FY2020 Annual Budget General Debt Service Fund •Increase expense appropriation by $433K for debt payments •Debt payments from other funds pass through this fund •Appropriation for payment in this fund was missed by mistake •Revenue was always available and payments were made on time •Staff updated check list to prevent future miss Page 150 of 170 FY2020 Annual Budget Conservation Fund •Due to the economic conditions of the COVID- 19 pandemic, Council authorized staff in May 2020 to offer a utility bill relief program •Electric fund’s expenses for bill relief are to be reimbursed by the Conservation fund •Increase Conservation fund transfers out to Electric by $4,200 Page 151 of 170 FY2020 Annual Budget Court Security Fund •During the transition from the old financial software system to the new system, accounting practices were updated •Previously, court collections contract revenues were posted as credits against expense •Currently, since go live at mid-year, revenue posts as revenue and expense posts as expense •Clean up item to appropriate the contract expense of $15K, no negative impact to fund Page 152 of 170 FY2020 Annual Budget Information Technology Fund •To improve financial conditions in the Electric fund, staff are executing a multi-year plan for the Information Technology fund to buy the fiber infrastructure asset from Electric •The fiber serves facilities and network connections citywide •Increase appropriation in the IT Fund by $600K to buy a segment in FY2020 •IT fund allocation revenue charges will need to be increased in the future to restore the capital equipment reserve Page 153 of 170 FY2020 Annual Budget Electric Fund •Acknowledge new revenue from –Conservation transfer in for utility bill relief program $4K –IT Fund purchase of fiber asset $600K Page 154 of 170 FY2020 Annual Budget Next Steps •Action item on tonight’s agenda to approve 2020 year-end amendment on first reading •Second reading on January 12 –Accounting can then officially close the books and start the audit for 2020 •First budget amendment of FY 2021, January –Roll forward large capital projects that span multiple years –Approve adjustments for operating expenses not known during FY2021 budget development this past summer Page 155 of 170 FY2020 Annual Budget Questions Page 156 of 170 Exhibit A - FY2020 Year-end Amendment 2020 Approved Budget Impact of This Action/CAFR Adjustment 2020 Amended Budget 159 - General Debt Service Beginning Fund Balance 1,950,739 - 1,950,739 Revenues Current Revenues 20,531,759 20,531,759 Total Revenues 20,531,759 - 20,531,759 Expenses Handling Fees 20,000 - 20,000 Principal Reduction 12,834,526 180,000 13,014,526 Interest Expense 7,173,378 253,816 7,427,194 Total Expenses 20,027,904 433,816 20,461,720 Ending Fund Balance 2,454,594 (433,816) 2,020,778 45 Day Contingency 2,096,022 (75,244) 2,020,778 Available Fund Balance 358,572 (358,572) - 2020 Approved Budget Impact of This Action/CAFR Adjustment 2020 Amended Budget 212 - Conservation Beginning Fund Balance 847,035 - 847,035 Revenues Current Revenues 72,000 - 72,000 Total Revenues 72,000 - 72,000 Expenses Current Expenses 231,000 231,000 Transfers Out - 4,207 4,207 Total Expenses 231,000 4,207 235,207 Ending Fund Balance 688,035 (4,207) 683,828 Available Fund Balance 688,035 (4,207) 683,828 2020 Approved Budget Impact of This Action/CAFR Adjustment 2020 Amended Budget 246 - Court Security Fees Beginning Fund Balance 3,289 - 3,289 Revenues Current Revenues 10,875 15,757 26,632 Total Revenues 10,875 15,757 26,632 Expenses Current Expenses 1,000 15,757 16,757 Total Expenses 1,000 15,757 16,757 Ending Fund Balance 13,164 - 13,164 Available Fund Balance 13,164 - 13,164 During the FY2020 budget development process, a step was mistakenly missed in budgeting the expense for some debt service payments related to GEDCO projects and the Solid Waste Transfer Station. The revenue was available and the debt payments were made on time. This is a clean up action. Finance staff updated our checklist to prevent missing this budget step again in the future. On May 26, 2020, City Council approved a utility billing relief program related to COVID-19. This included direction for the Conservation Fund to cover the Electric Fund's bill relief expenses. This action is to transfer $4,207 from Conservation to Electric, for year-to-date relief expenses. During the transition from the old financial system (Incode) to the new system (Workday), many changes were made to the chart of accounts and accounting procedures. Previously, the Court special revenue fund netted collections contract revenue against the contract expense. Since go live of the new system in April, revenue posts to revenue, and expense posts to expense. Therefore, an amendment is needed to recognize expense appropriation in this fund. Collections revenue still covers the expense and there is no negative impact to the fund. Page 157 of 170 2020 Approved Budget Impact of This Action/CAFR Adjustment 2020 Amended Budget 570 - Information Technology Beginning Fund Balance 2,452,003$ -$ 2,452,003$ Revenues Current Revenues 7,727,733$ 7,727,733$ Total Revenues 7,727,733$ -$ 7,727,733$ Expenses Current Expenses 8,012,204$ 8,012,204$ Capital Outlay - Capital Equipment -$ 600,000 600,000$ Total Expenses 8,012,204$ 600,000$ 8,612,204$ Ending Fund Balance 2,167,532$ (600,000)$ 1,567,532$ Contingency 651,790$ 651,790$ Equipment Reserve 1,031,764$ (116,022)$ 915,742$ Available Fund Balance 483,978$ (483,978)$ -$ 2020 Approved Budget Impact of This Action/CAFR Adjustment 2020 Amended Budget 610 - Electric Beginning Fund Balance 6,614,742$ -$ 6,614,742$ Revenues Current Revenues 95,658,419$ 95,658,419$ Transfers In 500,000$ 4,207 504,207$ Sale of Property 10,000$ 600,000 610,000$ Total Revenues 96,168,419$ 604,207$ 96,772,626$ Expenses Current Expenses 93,484,028$ - 93,484,028$ Total Expenses 93,484,028$ -$ 93,484,028$ Ending Fund Balance 9,299,133$ 604,207$ 9,903,340$ Contingency 4,142,159$ 4,142,159$ Rate Stabilization 4,555,000$ -$ 4,555,000$ Available Fund Balance 601,974$ 604,207$ 1,206,181$ TOTAL CHANGE IN APPROPRIATION 1,053,780 The first amendment for the Electric fund is to recognize the $4,207 transfer in from the Conservation Fund to reimburse for utility bill relief expenses related to COVID-19. Council approved reimbursement from the Conservation fund as a way to ease strain on the Electric Fund. The second amendment recognizes revenue from the IT Fund for the sale of a second segment of the citywide Fiber Asset valued at $600,000. As part of the FY2021 budget development process, staff and Council reviewed FY2020 year-end projections for the IT Fund and the Electric Fund. Council approved for the IT Fund to continue its multi-year program of buying segments of the citywide fiber asset from the Electric Fund. The FY2020 segment is for $600,000 after annual depreciation and is the second segment in a four year plan. This action draws down on IT Fund reserves for capital replacement. The IT Fund will need to increase internal service fund allocation charges in FY2022 to begin recovering the reserve. Page 158 of 170 City of Georgetown, Texas City Council Workshop D ecember 8, 2020 S UBJEC T: P resentation and discussion regarding the update to the Do wntown and Old Town Design Guidelines -- Britin Bostic k, Downtown and Historic P lanner and Nat Waggoner, Lo ng Range P lanning Manage r I T E M S UMMARY: In April 2019 the G e orgetown City Council adopted change s to the Certificate of Appro priateness review requirements, with Ordinance 2019-21. Changes included the review o f new residential c onstructio n, the review o f requests for demolition or relocation o f historic structures and the use of materials. This update will inco rporate Council’s change s, as well other update s and improvements for document usability. Recently the City has hired a project co nsultant, drafted a project schedule and public engagement plan and begun stakeholder e ngagement. At this workshop, City staff will provide the City Counc il with an overview of the update including the project schedule, co mpleted public engagement, initial insights fro m stake holder e ngagement and proje c t next steps. Staff is seeking the follo wing feedback from the City Co uncil: · Are there o ther stakeholders or topics that need to be included as part o f our update to the design guideline s? F I NANC I AL IMPAC T: None S UBMI T T ED BY: Nat Waggoner, P M P, AIC P AT TAC HMENT S : Description P resentatio n Page 159 of 170 DOWNTOWN AND OLD TOWN DESIGN GUIDELINES UPDATE CITY COUNCIL WORKSHOP: DECEMBER 8, 2020 Page 160 of 170 Presentation Team •Britin Bostick, Downtown & Historic Planner •Nat Waggoner, Long Range Planning Manager Page 161 of 170 PRESENTATION AGENDA •Recap of Council Direction from 2019 •Project Schedule •Completed Public Engagement •Initial Insights –What We've Heard •Next Steps •Requested Feedback Page 162 of 170 REQUESTED FEEDBACK •Are there other stakeholders or topics that need to be included as part of our update to the design guidelines? Page 163 of 170 COUNCIL DIRECTION FROM 2019 Council -Directed Topic Updates: •Commercial Infill •Residential Infill (New Review Requirement) •Demolition/Relocation •In-kind Materials •Signage Page 164 of 170 PROJECT SCHEDULE Phase 1 Here’s what you have Phase 2 Here’s what you love Phase 3 Here’s how you protect that in the future Page 165 of 170 COMPLETED PUBLIC ENGAGEMENT •Focus Groups •Tuesday Talks Webinars •Project Website •Information Video Posted to Social Media –11/30 •Historic & Architectural Review Commission –10/22 •Main Street Advisory Board Meeting –11/13 •Main Street Breakfast Bites Meeting –12/3 Page 166 of 170 INITIAL INSIGHTS –WHAT WE'VE HEARD Page 167 of 170 REQUESTED FEEDBACK •Are there other stakeholders or topics that need to be included as part of our update to the design guidelines? Page 168 of 170 NEXT STEPS •Online Survey Dec 9 -23 at https://historic.georgetown.org •Virtual Open House December 16 at https://historic.georgetown.org •Main Street Breakfast Bites Program in March •Virtual/In-Person Open House in April •Annual Historic Preservation Month Letter in May •Document Presented to City Council for Adoption in June Page 169 of 170 THANK YOU •Focus Groups •Property & Business Owners, Developers, Design Professionals, Contractors, Non -Profits and City Boards & Commissions •City Staff •CMO, Economic Development, Facilities, Library, Arts & Culture, Visitor & Tourism and Planning Page 170 of 170