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Home My WebLink AboutFY 17 - 03 QuarterlyReport_RedactedFINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended June 30, 2017 Table of Contents Executive Summary .................................................................................................................................... 1-5 General Fund Schedule ................................................................................................................................. 6 Electric Fund Schedule .................................................................................................................................. 7 Water & Rural Water Fund Schedule ............................................................................................................ 8 Joint Services Fund Schedule ......................................................................................................................... 9 Council Discretionary Fund Schedule .......................................................................................................... 10 Convention & Visitors Bureau Fund Schedule ............................................................................................. 11 Paramedic Fund Schedule ........................................................................................................................... 12 Airport Fund Schedule ................................................................................................................................. 13 Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 14 Georgetown Economic Development Corporation Fund Schedule ............................................................. 15 Quarterly Investment Report - City ........................................................................................................ 16-31 Quarterly Investment Report - GTEC ...................................................................................................... 32-37 Quarterly Investment Report - GEDCO ................................................................................................... 38-43 Grant Applications ....................................................................................................................................... 44 Capital Improvement Projects ................................................................................................................ 45-50 Long-term Commitments and Other Unfunded Liabilities ..................................................................... 51-53 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE %YEAR-END VARIANCE BEGINNING FUND BALANCE 10,893,558 10,990,128 96,570 0.89% Revenue Property Tax 12,475,000 36,398 11,573,562 12,475,000 - 0.00% Sales Tax 13,059,541 947,832 7,531,849 13,702,850 643,309 4.93% Sanitation Revenue 7,181,300 615,527 5,400,706 7,422,500 241,200 3.36% ROI 8,070,041 684,335 5,382,700 8,034,360 (35,681) -0.44% Franchise Fees 5,142,035 252,456 3,216,148 5,141,726 (309) -0.01% Development and Permit Fees 2,307,991 378,929 1,980,068 2,622,600 314,609 13.63% Parks and Rec Fees 2,190,746 247,220 1,856,055 2,270,030 79,284 3.62% Administrative Charges 1,886,221 313,892 1,424,970 1,886,221 - 0.00% All Other Revenue 3,556,378 488,979 2,704,294 3,902,237 345,859 9.73% Transfer In 1,612,200 68,750 1,393,450 1,612,200 - 0.00% Revenue Total 57,481,453 4,034,318 42,463,802 59,069,724 1,588,271 2.76% Expense Administrative Services 1,585,029 156,830 1,116,297 1,532,873 (52,156) -3.29% Animal Services 918,594 80,566 627,268 885,071 (33,523) -3.65% Arts & Culture 74,385 2,197 51,531 71,371 (3,014) -4.05% City Council 127,644 13,208 88,318 122,721 (4,923) -3.86% City Secretary 662,422 71,286 481,578 635,942 (26,480) -4.00% Code Enforcement 407,773 33,805 243,853 373,865 (33,908) -8.32% D&CS Admin - - - - - 0.00% Environmental Services 5,879,717 1,042,665 4,613,453 6,155,717 276,000 4.69% Fire Emergency Services 10,046,095 984,939 7,208,534 10,033,514 (12,581) -0.13% Fire Support Services 2,418,984 239,939 1,912,079 2,545,422 126,438 5.23% General Gov't Contracts 3,353,753 281,365 3,078,938 3,665,391 311,638 9.29% Inspections 1,167,339 99,708 731,563 1,101,709 (65,630) -5.62% Library 2,419,829 230,351 1,804,356 2,383,698 (36,131) -1.49% Municipal Court 564,620 55,133 406,814 561,544 (3,076) -0.54% Parks 2,312,359 237,007 1,645,269 2,302,926 (9,433) -0.41% Parks Admin 484,592 46,254 365,839 487,592 3,000 0.62% Planning 1,349,832 78,146 731,029 1,181,571 (168,261) -12.47% Police Admin 2,105,056 186,307 1,568,248 2,078,365 (26,691) -1.27% Police Operations 11,176,291 1,183,068 7,858,092 10,898,503 (277,788) -2.49% Public Communications 387,333 37,388 258,655 377,417 (9,916) -2.56% Public Works 701,748 84,611 585,367 679,110 (22,638) -3.23% Rec Programs 1,439,699 175,814 848,338 1,488,564 48,865 3.39% Recreation 2,422,487 228,423 1,758,204 2,386,714 (35,773) -1.48% Streets 4,056,498 233,038 1,848,710 4,017,630 (38,868) -0.96% Tennis Center 431,262 45,783 309,065 435,790 4,528 1.05% Transfer Out 2,501,378 14,696 2,321,926 2,501,375 (3) 0.00% Expense Total 58,994,718 5,842,527 42,463,324 58,904,395 (90,323) -0.15% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (1,513,265) (1,808,209) 478 165,329 1,678,593 -111% ENDING FUND BALANCE 9,380,294 11,155,457 1,775,163 19% General Fund Year End Projection to Approved as of June 2017 6 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE %YEAR-END VARIANCE BEGINNING FUND BALANCE 6,436,145 6,196,297 (239,848) -3.73% Operating Revenue Electric Revenue 65,898,216 5,840,693 43,748,456 66,306,239 408,024 0.62% Interest 18,100 8,739 23,931 48,000 29,900 165.19% Other Revenue 3,820,000 194,162 2,831,711 3,838,465 18,465 0.48% Operating Revenue Total 69,736,316 6,043,594 46,604,098 70,192,704 456,388 0.65% Operating Expenditures CRR Credits (1,500,000) (817,824) (4,798,697) (4,798,697) (3,298,697) 219.91% Georgetown Utility Systems 16,900,435 1,606,525 12,130,986 16,275,019 (625,415) -3.70% Purchased Power 38,000,000 5,216,839 33,457,740 44,000,000 6,000,000 15.79% Transfer Out-Fleet 71,500 - 71,500 71,500 - 0.00% Transfer Out-ROI 5,234,145 428,017 3,522,307 5,200,000 (34,145) -0.65% Transfer Out-SRF 60,000 - 60,000 60,000 - 0.00% Operating Expenditures Total 58,766,080 6,433,557 44,443,836 60,807,822 2,041,743 3.47% Total Net Operations 10,970,236 (389,964) 2,160,262 9,384,882 (1,585,354) -2.82% Non-Operating Revenue Bond Premium - 760,725 760,725 760,725 760,725 0.00% Bond Proceeds 7,025,000 694,765 7,194,765 6,264,275 (760,725) -10.83% Non-Operating Revenue Total 7,025,000 1,455,490 7,955,490 7,025,000 - 0.00% Non-Operating Expenditures CIP 6,956,000 143,906 6,503,109 6,503,109 (452,891) -6.51% Debt Issuance Cost 15,000 57,875 607,027 1,010,142 995,142 6634.28% Debt Service 3,464,271 (1,950) 331 2,467,660 (996,611) -28.77% Non-Operating Expenditures Total 10,435,271 199,832 7,110,467 9,980,911 (454,360) -4.35% Total Net Non-Operations (3,410,271) 1,255,658 845,023 (2,955,911) 454,360 -13.32% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 7,559,965 865,695 3,005,285 6,428,971 (1,130,994) -14.96% ENDING FUND BALANCE 13,996,110 12,625,268 (1,370,842) -9.79% Electric Fund Year End Projection to Approved as of June 2017 7 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE %YEAR-END VARIANCE BEGINNING FUND BALANCE 24,911,799 54,428,066 29,516,267 118.48% Operating Revenue Water Utility Revenue 26,700,000 2,250,550 17,835,512 27,086,343 386,343 1.45% Other Revenue 3,747,088 752,122 3,861,769 3,861,771 114,683 3.06% Interest 199,975 48,710 271,317 331,317 131,342 65.68% Raw Water Revenue 178,500 14,310 107,794 174,429 (4,071) -2.28% Capital Recovery Fee 4,767,300 898,320 9,791,083 9,791,083 5,023,783 105.38% Irrigation Utility Revenue 225,000 22,535 107,648 174,515 (50,485) -22.44% Transfer In, Debt 115,839 - - 115,839 - 0.00% Wastewater Utility Revenue 10,733,475 888,395 7,821,612 10,541,459 (192,016) -1.79% Operating Revenue Total 46,667,177 4,874,941 39,796,735 52,076,756 5,409,580 11.59% Operating Expenditures Irrigation 204,672 8,653 155,366 192,172 (12,500) -6.11% Transfer Out, Fleet/Joint Service 290,750 17,396 238,564 290,750 - 0.00% Transfer Out, General 425,000 68,750 206,250 275,000 (150,000) -35.29% Transfer Out, ROI 2,604,339 235,985 1,708,814 2,605,536 1,197 0.05% Wastewater Distribution 737,700 48,207 360,659 631,381 (106,319) -14.41% Wastewater Plant Management 2,670,507 200,740 2,246,953 2,335,887 (334,620) -12.53% Water Administration 16,600,932 1,174,091 12,830,622 16,052,822 (548,110) -3.30% Water Distribution 2,209,230 316,004 1,717,451 2,248,780 39,550 1.79% Water Operations 3,714,279 372,509 2,568,482 3,509,434 (204,845) -5.52% Water Plant Management 2,779,631 301,718 1,908,822 2,559,251 (220,380) -7.93% Operating Expenditures Total 32,237,040 2,744,053 23,941,983 30,701,013 (1,536,027) -4.76% TOTAL NET OPERATIONS 14,430,137 2,130,889 15,854,752 21,375,743 6,945,607 48.13% Non-Operating Revenue Bond Premium - 1,710,759 1,710,759 1,710,759 1,710,759 0.00% Bond Proceeds 20,000,000 1,760,235 20,720,235 20,720,235 720,235 3.60% Special Improvement Fees 205,000 - - - (205,000) -100.00% Non-Operating Revenue Total 20,205,000 3,470,994 22,430,994 22,430,994 2,225,994 11.02% Non-Operating Expenditures CIP 90 73,799,005 336,653 15,968,106 71,486,957 (2,312,048) -3.13% CIP 91 1,161,948 37,991 1,156,770 1,161,948 - 0.00% Debt Service 5,182,487 349,875 1,414,828 5,182,487 - 0.00% Non-Operating Expenditures Total 80,143,440 724,519 18,539,703 77,831,392 (2,312,048) -2.88% TOTAL NET NON-OPERATIONS (59,938,440) 2,746,475 3,891,291 (55,400,398) 4,538,042 -7.57% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (45,508,303) 4,877,364 19,746,043 (34,024,654) 11,483,649 -25.23% ENDING FUND BALANCE (20,596,504) 20,403,412 40,999,916 -199.06% Water Services Fund Year End Projection to Approved as of June 2017 8 APPROVED BUDGET PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE %YEAR-END VARIANCE BEGINNING FUND BALANCE 749,366 343,362 (406,004) -54.18% Revenue SERVICE FEES - GENERAL 2,988,741 249,062 2,241,558 2,988,741 - 0.00% SERVICE FEES - AIRPORT 117,729 9,811 88,299 117,729 - 0.00% SERVICE FEES - ELECTRIC 3,782,058 315,172 2,836,548 3,782,058 - 0.00% SERVICE FEES - STORMWATER 838,822 69,902 629,118 838,822 - 0.00% SERVICE FEES - WASTEWATER 1,957,252 163,104 1,467,936 1,957,252 - 0.00% SERVICE FEES - WATER 3,517,167 293,097 2,637,873 3,517,167 - 0.00% SERVICE FEES - CONSERVATION 89,647 7,471 67,239 89,647 - 0.00% SERVICE FEES - RURAL WATER 1,000,700 83,392 750,528 1,000,700 - 0.00% GTEC ADMIN/CONTRACT FEE 149,083 12,424 111,816 149,083 - 0.00% GEDCO ADMIN/CONTRACT FEE 197,722 16,477 148,293 197,722 - 0.00% VPID ADMIN/CONTRACT FEE 13,279 1,107 9,962 13,279 - 0.00% INTEREST 9,000 685 3,240 9,000 - 0.00% OTHER 29,000 4,400 71,774 85,214 56,214 193.84% TRANSFERS IN 582,140 27,938 498,325 582,137 (3) 0.00% Revenue Total 15,272,341 1,254,042 11,562,509 15,328,552 56,211 0.37% Expense FINANCE ADMINISTRATION 900,293 53,881 633,733 889,379 (10,914) -1.21% ACCOUNTING 855,700 80,463 554,850 790,114 (65,586) -7.66% PURCHASING 737,185 70,680 482,258 711,332 (25,853) -3.51% CUSTOMER CARE 3,544,585 347,767 2,645,859 3,401,387 (143,198) -4.04% JOINT SVCS CON 935,232 77,426 597,158 990,400 55,168 5.90% GUS ADMINISTRATION 1,392,815 140,192 1,035,537 1,414,575 21,760 1.56% ENGINEERING 2,049,288 187,259 1,221,354 1,845,466 (203,821) -9.95% CONSERVATION 1,047,322 78,644 387,196 680,355 (366,967) -35.04% ENGINEERING SUPPORT 1,239,024 105,860 683,488 1,098,298 (140,726) -11.36% ECONOMIC DEVELOPMENT 427,990 47,757 306,530 406,838 (21,152) -4.94% MAIN STREET 157,537 8,541 81,095 153,810 (3,727) -2.37% INSURANCE & LEGAL 705,000 9,377 564,643 705,000 - 0.00% HUMAN RESOURCES 806,051 91,393 592,446 789,562 (16,490) -2.05% CITY WIDE HR 119,756 30,764 245,222 403,620 283,864 237.04% IN-HOUSE LEGAL 1,072,128 93,275 633,328 1,045,124 (27,004) -2.52% TRANSFER TO FLEET 25,000 - 25,000 25,000 - 0.00% Expense Total 16,014,907 1,423,281 10,689,696 15,350,260 (664,647) -4.15% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (742,566) (169,238) 872,813 (21,709) (764,275) 102.92% ENDING FUND BALANCE 6,800 321,653 314,854 4630.27% Joint Services Fund Year End Projection to Approved as of June 2017 9 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE % YEAR-END VARIANCE BEGINNING FUND BALANCE 185,045 185,694 649 0.35% Revenue Interest - 113 2,013 2,000 2,000 0.00% Transfer In, General Fund 1,734,779 - 1,734,779 1,734,779 - 0.00% Revenue Total 1,734,779 113 1,736,792 1,736,779 2,000 0.12% Expense Transfer Out, GCP 270,000 - 270,000 270,000 - 0.00% Transfer Out, General Fund 1,177,000 - 1,177,000 1,177,000 - 0.00% Transfer Out, ISF 80,000 - 80,000 80,000 - 0.00% Transfer Out, Joint Services 95,000 - 95,000 95,000 - 0.00% Expense Total 1,622,000 - 1,622,000 1,622,000 - 0.00% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 112,779 113 114,792 114,779 2,000 1.77% ENDING FUND BALANCE 297,824 300,473 2,649 0.89% Council Discretionary Fund Year End Projection to Approved as of June 2017 10 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE % YEAR-END VARIANCE BEGINNING FUND BALALNCE 578,306 483,707 (94,599) -16.36% Revenue Hotel/Motel Occupancy Tax Revenues 1,260,000 105,048 787,234 1,150,000 (110,000) -8.73% Interest 1,500 229 1,802 1,500 - 0.00% Other 8,000 1,685 14,418 13,102 5,102 63.78% Poppy Festival 150,000 260 111,125 111,215 (38,785) -25.86% Revenue Total 1,419,500 107,222 914,579 1,275,817 (143,683) -10.12% Expense Operations 498,506 34,666 378,826 497,778 (728) -0.15% Personnel 359,570 37,053 249,906 353,009 (6,561) -1.82% Poppy Festival 128,700 996 107,089 108,710 (19,990) -15.53% Transfer to Facilities 51,535 4,295 38,655 51,535 - 0.00% Transfer to Fleet 5,655 471 4,239 5,655 - 0.00% Transfer to General Fund 10,200 - 10,200 10,200 - 0.00% Transfer to Information Technology 42,436 3,536 31,824 42,436 - 0.00% Expense Total 1,096,602 81,018 820,739 1,069,323 (27,279) -2.49% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 322,898 26,204 93,840 206,494 (116,404) -36.05% ENDING FUND BALANCE 901,204 690,201 (211,003) -23% Contingency 180,263 175,779 Convention & Visitors Bureau Fund Year End Projection to Approved as of June 2017 11 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR END VARIANCE %YEAR-END VARIANCE BEGINNING FUND BALANCE (853,003) (909,490) (56,487) 6.62% Revenue EMS Revenue 2,135,250 214,667 1,415,312 2,400,646 265,396 12.43% Franchise Fees 20,000 - - 20,000 - 0.00% Transfer In 49,846 4,154 37,386 49,846 - 0.00% All Other Revenue - - 4,800 4,800 4,800 0.00% Revenue Total 2,205,096 218,821 1,457,498 2,475,292 270,196 12.25% Expense Personnel 1,585,854 218,782 1,502,056 1,545,706 (40,148) -2.53% O&M 492,579 24,941 404,167 516,501 23,922 4.86% Expense Total 2,078,433 243,723 1,906,222 2,062,207 (16,226) -0.78% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 126,663 (24,902) (448,724) 413,085 286,422 226% ENDING FUND BALANCE (726,340) (496,406) 229,935 32% Paramedic Fund Year End Projection to Approved as of June 2017 12 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/Encumb) YEAR-END PROJECTION YEAR-END VARIANCE % YEAR-END VARIANCE BEGINNING FUND BALANCE 43,849 311,251 267,402 609.82% Revenues Operating Revenue Fuel and Terminal Sales 2,720,928 205,191 1,845,278 2,561,492 (159,436) -5.86% Leases and Rentals 767,990 77,584 619,974 872,054 104,064 13.55% Interest and Other 66,075 2,635 33,874 50,554 (15,521) -23.49% TOTAL OPERATING REVENUE 3,554,993 285,411 2,499,126 3,484,100 (70,893) -1.99% Expenditures Operating Expenditures Personnel 388,781 41,084 236,981 358,048 (30,733) -7.90% Operations-Fuel 2,296,928 141,235 2,201,128 2,200,414 (96,514) -4.20% Operations-Non Fuel 657,086 59,109 535,164 666,386 9,300 1.42% Transfers Out 25,000 25,000 25,000 25,000 - 0.00% Airport Master Plan - - - - - 0.00% Debt Service 143,768 - 20,462 143,768 - 0.00% TOTAL OPERATING EXPENDITURES 3,511,563 266,428 3,018,735 3,393,616 (117,947) -3.36% TOTAL NET OPERATIONS 43,430 18,983 (519,610) 90,484 47,054 108.35% Revenues Non-Operating Revenue Grants 35,000 - 50,000 50,000 15,000 42.86% TOTAL NON-OPERATING REVENUES 35,000 - 50,000 50,000 15,000 42.86% TOTAL NET OPERATIONS 35,000 - 50,000 50,000 15,000 42.86% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 78,430 18,983 (469,610) 140,484 62,054 79.12% ENDING FUND BALANCE 122,279 451,735 329,456 269.43% Year End Projection to Approved as of June 2017 Airport Operations Fund 13 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/Encumb) YEAR-END PROJECTION YEAR-END VARIANCE % YEAR-END VARIANCE BEGINNING FUND BALANCE 11,022,877 11,022,877 - 0% Operating Revenue Sales Tax 5,875,000 451,264 3,501,294 6,325,000 450,000 8% PID Assessments 553,201 - - 553,201 - 0% Interest 50,000 16,745 118,621 127,000 77,000 50% Interlocal Agreement 2,905,356 972,542 1,945,084 1,945,084 (960,272) -33% Miscellaneous - - 7,539 7,539 7,539 0% TOTAL OPERATING REVENUE 9,383,557 1,440,551 5,572,538 8,957,824 (425,733) 25% Operating Expenditure Administrative Support 330,895 27,503 247,111 330,895 - - TOTAL OPERATING EXPENDITURES 330,895 27,503 247,111 330,895 - - TOTAL NET OPERATIONS 9,052,662 1,413,049 5,325,427 8,626,929 (425,733) -5% Non-Operating Revenue Debt Proceeds 6,000,000 - 5,750,000 6,000,000 - 0% Other Grant Revenue 450,000 - 61,764 61,763 (388,237) -86% Other Revenue - 26,590 369,010 342,419 342,419 0% TxDot Refund - - 223,873 223,873 223,873 0% TOTAL NON-OPERATING REVENUE 6,450,000 26,590 6,404,647 6,628,055 178,055 -86% Non-Operating Expenditure Available for Projects TBD 1,468,750 - - - (1,468,750) -100% Debt Service 3,414,754 82,540 698,335 3,414,754 - 0% FM 971 / Fontana 91,590 - - 91,590 - 0% FM1460 Widening 650,000 - 148,333 650,000 - 0% IH 35 / HWY29 Intersection 650,000 - - 650,000 - 0% Mays St 3,500,000 488,097 274,367 3,500,000 - 0% NB Frontage 2338 to Lakeway - - - - - 0% Pecan Center Dr to Airport Rd (FY15)6,000,000 23,874 609,710 1,850,000 (4,150,000) -69% Rivery TIA Improvements 1,157,121 61,578 138,330 1,157,121 - 0% Rivery-Extension Williams Dr to NW Blvd (FY16)4,000,000 283,161 2,213,141 4,000,000 - 0% SH 29 to RM 2243 SW Bypass - 4,130 6,062 - - 0% SW Bypass 2243 to IH35 354,920 20 20,957 354,920 - 0% SW Inner Loop 29 to SW Bypass - - 8 - - 0% Williams Drive Gateway - - - - - 0% Wolf Ranch Pkwy Extension 283,350 - - 283,350 - 0% TOTAL NON-OPERATING EXPENDITURE 21,570,485 943,400 4,109,242 15,951,735 (5,618,750) -169% TOTAL NET NON-OPERTAIONS (15,120,485) (916,810) 2,295,405 (696,750) 5,796,805 -38% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (6,067,823) 496,239 7,620,832 7,930,179 1,862,356 -31% ENDING FUND BALANCE 4,955,054 10,326,127 5,371,073 1.08 RESERVED ENDING BALANCE 1,619,550 1,619,550 Georgetown Transportation Enhancement Corporation Fund Year End Projection to Approved as of June 2017 14 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION YEAR-END VARIANCE % YEAR-END VARIANCE BEGINNING FUND BALALNCE 5,015,684 5,068,518 52,834 1.05% Revenue OPERATING REVENUES Sales Tax 1,468,750 112,816 875,323 1,581,250 112,500 7.66% Interest 10,400 4,384 29,018 34,171 23,771 228.57% Miscellaneous Revenue 60,321 - 60,302 60,321 - 0.00% Lease Revenue (Grape Creek)48,000 4,000 40,000 48,000 - 0.00% OPERATING REVENUES TOTAL 1,587,471 121,200 1,004,643 1,723,742 136,271 8.58% OPERATING EXPENDITURES Joint Services Allocation 197,722 16,477 148,293 197,722 - 0.00% Supplies 300 53 193 300 - 0.00% Special Services 7,500 - 33 7,500 - 0.00% Travel & Training 1,500 - - 1,500 - 0.00% Promotional & Marketing Program 81,000 7,185 63,190 81,000 - 0.00% Miscellaneous Expense 10,321 - 10,302 10,302 (19) -0.18% OPERATING EXPENDITURES Total 298,343 23,715 222,011 298,324 (19) -0.01% TOTAL NET OPERATIONS 1,289,128 97,485 782,632 1,425,418 136,290 0.11 NON-OPERATING EXPENDITURES Avalanche Consulting, Inc 100,000 30,650 100,000 100,000 - 0.00% Bond Issuance Costs - - (114) (114) (114) 0.00% Catalyst 24,000 9,053 14,427 23,000 (1,000) -4.17% Debt Service 115,839 - 66,679 115,839 - 0.00% DisperSol 60,000 - 10,000 60,000 - 0.00% Economic Development Projects -Undetermined 5,200,322 - - - (5,200,322) -100.00% Interest Expense 111,463 - - 111,463 - 0.00% Principal Reduction 100,000 - - 100,000 - 0.00% Radix 50,000 - - - (50,000) -100.00% Rentschler Brewing LLC 70,000 - 70,000 70,000 - 0.00% Tasus 6,000 - - - (6,000) -100.00% Texas Life Sciences 100,000 - - - (100,000) -100.00% NON-OPERATING EXPENDITURES Total 5,937,624 39,703 260,992 580,188 (5,357,436) -90.23% EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (4,648,496) 57,782 521,641 845,230 5,493,726 -118.18% ENDING FUND BALANCE 367,188 5,913,748 5,546,560 1510.55% Georgetown Economic Development Corporation Fund Year End Projection to Approved as of June 2017 15 CITY QUARTERLY INVESTMENT REPORT For the Quarter Ended June 30, 2017 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. 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. 16 Summary Quarter End Results by Investment Category: Asset Type Ave. Yield Book Value Market Value Book Value Market Value Demand Accounts 0.33% 16,807,804$ 16,807,804 12,301,336$ 12,301,336$ NOW/MMA 1.38% 7,372,724 7,372,724 50,730,044 50,730,044 Pools 0.86% 69,279,895 69,279,895 68,494,027 68,494,027 CDs/Securities 1.18% 44,253,128 44,253,128 48,320,821 48,320,821 Totals 137,713,551$ 137,713,551$ 179,846,228$ 179,846,228$ Quarter End Average Yield (1)Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.06%Total Portfolio 0.79% Rolling Three Mo. Treas. Yield 0.91%Rolling Three Mo. Treas. Yield 0.65% Rolling Six Mo. Treas. Yield 0.88%Rolling Six Mo. Treas. Yield 0.68% Quarterly TexPool Yield 0.65% 11,731$ Interest income provided in separate report.36,388$ March 31, 2017 June 30, 2017 (1) Average Yield calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. (2) Fiscal Year-to-Date Average Yields calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. Quarterly Bank Fees Offset Year-to-date Bank Fees Offset Valley View Consulting, L.L.C. Page 1.17 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)0.33% 07/01/17 06/30/17 12,301,336$ 12,301,336$ 1.00 12,301,336$ 1 0.33% Green Bank MMA 1.20% 07/01/17 06/30/17 6,464,728 6,464,728 1.00 6,464,728 1 1.20% NexBank MMA 1.41% 07/01/17 06/30/17 44,265,316 44,265,316 1.00 44,265,316 1 1.41% TexPool AAAm 0.88% 07/01/17 06/30/17 4,564,988 4,564,988 1.00 4,564,988 1 0.88% TexSTAR AAAm 0.86% 07/01/17 06/30/17 63,929,038 63,929,038 1.00 63,929,038 1 0.86% Lubbock National Bank CD 0.95% 07/03/17 05/23/16 3,031,068 3,031,068 100.00 3,031,068 3 0.95% Lubbock National Bank CD 0.95% 07/03/17 05/23/16 2,525,890 2,525,890 100.00 2,525,890 3 0.95% Lubbock National Bank CD 0.95% 07/03/17 05/23/16 3,031,068 3,031,068 100.00 3,031,068 3 0.95% LegacyTexas Bank CD 0.95% 08/18/17 06/23/16 3,039,206 3,039,206 100.00 3,039,206 49 0.95% Lubbock National Bank CD 1.00% 10/02/17 05/23/16 2,021,808 2,021,808 100.00 2,021,808 94 1.00% Green Bank CD 0.81% 11/03/17 11/03/16 1,527,205 1,527,205 100.00 1,527,205 126 0.81% Southside Bank CD 0.92% 11/17/17 11/18/16 3,065,231 3,065,231 100.00 3,065,231 140 0.92% Lubbock National Bank CD 1.20% 02/23/18 02/23/17 6,023,706 6,023,706 100.00 6,023,706 238 1.20% LegacyTexas Bank CD 1.20% 03/09/18 03/09/17 5,015,139 5,015,139 100.00 5,015,139 252 1.20% Southside Bank CD 1.22% 06/01/18 05/09/17 3,500,000 3,500,000 100.00 3,500,000 336 1.22% Southside Bank CD 1.25% 08/01/18 05/09/17 5,000,000 5,000,000 100.00 5,000,000 397 1.25% Lubbock National Bank CD 1.50% 01/03/19 01/03/17 3,018,663 3,018,663 100.00 3,018,663 552 1.50% R Bank CD 1.50% 02/21/19 02/21/17 6,021,838 6,021,838 100.00 6,021,838 601 1.50% Independent Bank CD 1.60% 03/01/19 05/09/17 1,500,000 1,500,000 100.00 1,500,000 609 1.60% 179,846,228$ 179,846,228$ 179,846,228$731.06% (1) (2) June 30, 2017 (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees. Valley View Consulting, L.L.C.Page 3.19 City - Book and Market Value Comparison Coupon/ Maturity Face Amount/Purchases/ Sales/Adjust/ Face Amount/ Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value JPMorgan Chase Cash 0.33% 07/01/17 16,807,804$ 16,807,804$ –$ (4,506,468)$ 12,301,336$ 12,301,336$ Southside Bank MMA 0.00% 07/01/17 924,511 924,511 (924,511) – – Green Bank MMA 1.20% 07/01/17 6,448,213 6,448,213 16,515 6,464,728 6,464,728 NexBank MMA 1.41% 07/01/17 – – 44,265,316 44,265,316 44,265,316 TexPool 0.88% 07/01/17 10,964,107 10,964,107 (6,399,119) 4,564,988 4,564,988 TexSTAR 0.86% 07/01/17 58,315,788 58,315,788 5,613,250 63,929,038 63,929,038 LegacyTexas Bank CD 0.83%04/13/17 2,013,869 2,013,869 (2,013,869)– – LegacyTexas Bank CD 0.83%04/13/17 4,027,738 4,027,738 (4,027,738)– – Lubbock National Bank CD 0.95%07/03/17 3,023,822 3,023,822 7,246 3,031,068 3,031,068 Lubbock National Bank CD 0.95%07/03/17 2,519,851 2,519,851 6,039 2,525,890 2,525,890 Lubbock National Bank CD 0.95%07/03/17 3,023,822 3,023,822 7,246 3,031,068 3,031,068 LegacyTexas Bank CD 0.95%08/18/17 3,031,940 3,031,940 7,266 3,039,206 3,039,206 Lubbock National Bank CD 1.00%10/02/17 2,016,720 2,016,720 5,088 2,021,808 2,021,808 Green Bank CD 0.81%11/03/17 1,524,195 1,524,195 3,010 1,527,205 1,527,205 Southside Bank CD 0.92%11/17/17 3,058,370 3,058,370 6,861 3,065,231 3,065,231 Lubbock National Bank CD 1.20%02/23/18 6,005,523 6,005,523 18,183 6,023,706 6,023,706 LegacyTexas Bank CD 1.20%03/09/18 5,000,000 5,000,000 15,139 5,015,139 5,015,139 Southside Bank CD 1.22%06/01/18 – – 3,500,000 3,500,000 3,500,000 Southside Bank CD 1.25%08/01/18 – – 5,000,000 5,000,000 5,000,000 Lubbock National Bank CD 1.50%01/03/19 3,007,278 3,007,278 11,384 3,018,663 3,018,663 R Bank CD 1.50%02/21/19 6,000,000 6,000,000 21,838 6,021,838 6,021,838 Independent Bank CD 1.60%03/01/19 – – 1,500,000 1,500,000 1,500,000 TOTAL 137,713,551$ 137,713,551$ 60,004,381$ (17,871,704)$ 179,846,228$ 179,846,228$ March 31, 2017 June 30, 2017 Valley View Consulting, L.L.C.Page 5.21 City - Allocation Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 GO 2014 Revenue Electric 2014 Revenue Water WW Debt Service JPMorgan Chase Cash 12,301,336$ 12,301,336$ –$ –$ –$ –$ –$ –$ Southside Bank MMA – – Green Bank MMA 6,464,728 6,464,728 NexBank MMA 44,265,316 926,481 TexPool 4,564,988 4,564,988 TexSTAR 63,929,038 5,541,666 1,485,804 199,816 200 651,969 4,322,489 13,065,714 Lubbock National Bank CD 07/03/17 3,031,068 3,031,068 Lubbock National Bank CD 07/03/17 2,525,890 Lubbock National Bank CD 07/03/17 3,031,068 LegacyTexas Bank CD 08/18/17 3,039,206 3,039,206 Lubbock National Bank CD 10/02/17 2,021,808 Green Bank CD 11/03/17 1,527,205 1,527,205 Southside Bank CD 11/17/17 3,065,231 3,065,231 Lubbock National Bank CD 02/23/18 6,023,706 6,023,706 LegacyTexas Bank CD 03/09/18 5,015,139 5,015,139 Southside Bank CD 06/01/18 3,500,000 3,500,000 Southside Bank CD 08/01/18 5,000,000 5,000,000 Lubbock National Bank CD 01/03/19 3,018,663 3,018,663 R Bank CD 02/21/19 6,021,838 6,021,838 Independent Bank CD 03/01/19 1,500,000 1,500,000 Totals 179,846,228$ 70,541,254$ 1,485,804$ 199,816$ 200$ 651,969$ 4,322,489$ 13,065,714$ Book and Market Value June 30, 2017 Valley View Consulting, L.L.C. Page 6.22 City - Allocation JPMorgan Chase Cash Southside Bank MMA Green Bank MMA NexBank MMA TexPool TexSTAR Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 LegacyTexas Bank CD 08/18/17 Lubbock National Bank CD 10/02/17 Green Bank CD 11/03/17 Southside Bank CD 11/17/17 Lubbock National Bank CD 02/23/18 LegacyTexas Bank CD 03/09/18 Southside Bank CD 06/01/18 Southside Bank CD 08/01/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Independent Bank CD 03/01/19 Totals Book and Market Value June 30, 2017 (Continued) Police Restricted Seizure Utility Debt Service 2015 CO- Airport 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 CO-Tax Facilities 2015 CO- Water 2015 GO- Roads –$ –$ –$ –$ –$ –$ –$ –$ 1,398 68,088 29,801 1,297,780 1,428,195 136 13,849 4,182,993 1,398$ 68,088$ 29,801$ 1,297,780$ 1,428,195$ 136$ 13,849$ 4,182,993$ Valley View Consulting, L.L.C. Page 7.23 City - Allocation JPMorgan Chase Cash Southside Bank MMA Green Bank MMA NexBank MMA TexPool TexSTAR Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 LegacyTexas Bank CD 08/18/17 Lubbock National Bank CD 10/02/17 Green Bank CD 11/03/17 Southside Bank CD 11/17/17 Lubbock National Bank CD 02/23/18 LegacyTexas Bank CD 03/09/18 Southside Bank CD 06/01/18 Southside Bank CD 08/01/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Independent Bank CD 03/01/19 Totals Book and Market Value June 30, 2017 (Continued) 2015A GO- Roads 2015A GO- Parks 2015 Revenue Electric 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO Bonds 2016 GO- Parks –$ –$ –$ –$ –$ –$ –$ –$ 73,883 1,714,195 1,410,458 4,767,331 4,156 2,086,907 3,020,720 3,031,068 2,021,808 73,883$ 1,714,195$ 1,410,458$ 4,767,331$ 4,156$ 2,086,907$ 5,052,876$ 3,020,720$ Valley View Consulting, L.L.C. Page 8.24 City - Allocation JPMorgan Chase Cash Southside Bank MMA Green Bank MMA NexBank MMA TexPool TexSTAR Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 LegacyTexas Bank CD 08/18/17 Lubbock National Bank CD 10/02/17 Green Bank CD 11/03/17 Southside Bank CD 11/17/17 Lubbock National Bank CD 02/23/18 LegacyTexas Bank CD 03/09/18 Southside Bank CD 06/01/18 Southside Bank CD 08/01/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Independent Bank CD 03/01/19 Totals Book and Market Value June 30, 2017 (Continued) 2016 GO- Roads 2016 Revenue Electric 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 GO- Parks 2017 GO- Sidewalks –$ –$ –$ –$ –$ –$ –$ 4,037,035 2,018,518 5,501,222 5,476,217 2,625,583 522,417 1,805,872 3,142,638 5,030,803 3,621,973 1,041,656 13,723 2,525,890 4,559,452$ 1,805,872$ 7,687,045$ 5,030,803$ 9,123,195$ 6,517,873$ 2,639,307$ Valley View Consulting, L.L.C. Page 9.25 City - Allocation JPMorgan Chase Cash Southside Bank MMA Green Bank MMA NexBank MMA TexPool TexSTAR Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 LegacyTexas Bank CD 08/18/17 Lubbock National Bank CD 10/02/17 Green Bank CD 11/03/17 Southside Bank CD 11/17/17 Lubbock National Bank CD 02/23/18 LegacyTexas Bank CD 03/09/18 Southside Bank CD 06/01/18 Southside Bank CD 08/01/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Independent Bank CD 03/01/19 Totals Book and Market Value June 30, 2017 (Continued) 2017 Revenue Electric 2017 Revenue Water WW –$ –$ 5,926,317 17,753,944 1,111,389 2,271,019 7,037,706$ 20,024,963$ Valley View Consulting, L.L.C. Page 10.26 City - Allocation Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 GO 2014 Revenue Electric 2014 Revenue Water WW Debt Service JPMorgan Chase Cash 16,807,804$ 16,807,804$ –$ –$ –$ –$ –$ –$ Southside Bank MMA 924,511 924,511 Green Bank MMA 6,448,213 6,448,213 TexPool 10,964,107 10,964,107 TexSTAR 58,315,788 2,884,136 2,084,294 212,849 299,827 650,708 4,795,116 12,621,007 LegacyTexas Bank CD 04/13/17 2,013,869 LegacyTexas Bank CD 04/13/17 4,027,738 Lubbock National Bank CD 07/03/17 3,023,822 3,023,822 Lubbock National Bank CD 07/03/17 2,519,851 Lubbock National Bank CD 07/03/17 3,023,822 LegacyTexas Bank CD 08/18/17 3,031,940 3,031,940 Lubbock National Bank CD 10/02/17 2,016,720 Green Bank CD 11/03/17 1,524,195 1,524,195 Southside Bank CD 11/17/17 3,058,370 3,058,370 Lubbock National Bank CD 02/23/18 6,005,523 6,005,523 LegacyTexas Bank CD 03/09/18 5,000,000 5,000,000 Lubbock National Bank CD 01/03/19 3,007,278 3,007,278 R Bank CD 02/21/19 6,000,000 6,000,000 Totals 137,713,551$ 68,679,899$ 2,084,294$ 212,849$ 299,827$ 650,708$ 4,795,116$ 12,621,007$ March 31, 2017 Book and Market Value Valley View Consulting, L.L.C. Page 11.27 City - Allocation JPMorgan Chase Cash Southside Bank MMA Green Bank MMA TexPool TexSTAR LegacyTexas Bank CD 04/13/17 LegacyTexas Bank CD 04/13/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 LegacyTexas Bank CD 08/18/17 Lubbock National Bank CD 10/02/17 Green Bank CD 11/03/17 Southside Bank CD 11/17/17 Lubbock National Bank CD 02/23/18 LegacyTexas Bank CD 03/09/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Totals March 31, 2017 Book and Market Value (Continued) Police Restricted Seizure Utility Debt Service 2015 CO- Airport 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 CO-Tax Facilities 2015 CO- Water 2015 GO- Roads –$ –$ –$ –$ –$ –$ –$ –$ 1,395 67,956 29,743 1,310,027 1,425,433 136 13,822 4,320,198 1,395$ 67,956$ 29,743$ 1,310,027$ 1,425,433$ 136$ 13,822$ 4,320,198$ Valley View Consulting, L.L.C. Page 12.28 City - Allocation JPMorgan Chase Cash Southside Bank MMA Green Bank MMA TexPool TexSTAR LegacyTexas Bank CD 04/13/17 LegacyTexas Bank CD 04/13/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 LegacyTexas Bank CD 08/18/17 Lubbock National Bank CD 10/02/17 Green Bank CD 11/03/17 Southside Bank CD 11/17/17 Lubbock National Bank CD 02/23/18 LegacyTexas Bank CD 03/09/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Totals March 31, 2017 Book and Market Value (Continued) 2015A GO- Roads 2015A GO- Parks 2015 Revenue Electric 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO Bonds 2016 GO- Parks –$ –$ –$ –$ –$ –$ –$ –$ 2,306,586 1,710,880 1,477,674 5,391,599 4,148 2,599,464 3,014,879 4,027,738 3,023,822 2,016,720 2,306,586$ 1,710,880$ 1,477,674$ 5,391,599$ 4,148$ 2,599,464$ 9,068,279$ 3,014,879$ Valley View Consulting, L.L.C. Page 13.29 City - Allocation JPMorgan Chase Cash Southside Bank MMA Green Bank MMA TexPool TexSTAR LegacyTexas Bank CD 04/13/17 LegacyTexas Bank CD 04/13/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 Lubbock National Bank CD 07/03/17 LegacyTexas Bank CD 08/18/17 Lubbock National Bank CD 10/02/17 Green Bank CD 11/03/17 Southside Bank CD 11/17/17 Lubbock National Bank CD 02/23/18 LegacyTexas Bank CD 03/09/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Totals March 31, 2017 Book and Market Value (Continued) 2016 GO- Roads 2016 Revenue Electric 2016 Revenue Water/WW Garey Park Donation –$ –$ –$ –$ 1,014,037 1,802,380 3,256,418 5,021,075 2,013,869 2,519,851 1,014,037$ 1,802,380$ 7,790,139$ 5,021,075$ Valley View Consulting, L.L.C. Page 14.30 Georgetown Transportation Enhancement Corporation (GTEC) QUARTERLY INVESTMENT REPORT For the Quarter Ended June 30, 2017 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. 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. 32 Summary Quarter End Results by Investment Category: Asset Type Ave. Yield Book Value Market Value Book Value Market Value Pools/MMAs 1.18% 9,112,353$ 9,112,353$ 13,059,068$ 13,059,068$ CDs/Securities 0.99% 7,093,908 7,093,908 7,111,682 7,111,682 Totals 16,206,262$ 16,206,262$ 20,170,749$ 20,170,749$ Quarter End Average Yield (1)Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.12%Total Portfolio 0.86% Rolling Three Mo. Treas. Yield 0.91%Rolling Three Mo. Treas. Yield 0.65% Rolling Six Mo. Treas. Yield 0.88%Rolling Six Mo. Treas. Yield 0.68% Quarterly TexPool Yield 0.65% Interest data provided in separate report. March 31, 2017 June 30, 2017 (1) Average Yield calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. (2) Fiscal Year-to-Date Average Yields calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. Valley View Consulting, L.L.C. Page 1.33 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 0.88% 07/01/17 06/30/17 1,792,830$ 1,792,830$ 1.00 1,792,830$ 1 0.88% TexSTAR AAAm 0.86% 07/01/17 06/30/17 2,723,112 2,723,112 1.00 2,723,112 1 0.86% NexBank MMA 1.41% 07/01/17 06/30/17 6,001,333 6,001,333 1.00 6,001,333 1 1.41% Green Bank MMA 1.20% 07/01/17 06/30/17 2,541,792 2,541,792 1.00 2,541,792 1 1.20% Lubbock National Bank CD 0.95% 07/03/17 05/23/16 4,041,424 4,041,424 100.00 4,041,424 3 0.95% Lubbock National Bank CD 1.05% 08/18/17 08/18/16 3,070,257 3,070,257 100.00 3,070,257 49 1.05% 20,170,749$ 20,170,749$ 20,170,749$ 9 1.12% (1) (2) June 30, 2017 (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.Page 3.35 Book Value Comparison Coupon/Maturity Face Amount/Purchases/Sales/Adjust/Face Amount/ Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value TexPool 0.88% 07/01/17 1,220,346$ 1,220,346$ 572,484$ –$ 1,792,830$ 1,792,830$ TexSTAR 0.86% 07/01/17 5,356,707 5,356,707 (2,633,595) 2,723,112 2,723,112 NexBank MMA 1.41% 07/01/17 – – 6,001,333 6,001,333 6,001,333 Green Bank MMA 1.20% 07/01/17 2,535,300 2,535,300 6,492 2,541,792 2,541,792 Lubbock National Bank CD 0.95% 07/03/17 4,031,762 4,031,762 9,662 4,041,424 4,041,424 Lubbock National Bank CD 1.05% 08/18/17 3,062,146 3,062,146 8,111 3,070,257 3,070,257 TOTAL 16,206,262$ 16,206,262$ 6,598,082$ (2,633,595)$ 20,170,749$ 20,170,749$ Market Value Comparison Coupon/Maturity Face Amount/Qtr to Qtr Face Amount/ Description Discount Date Par Value Market Value Change Par Value Market Value TexPool 0.88% 07/01/17 1,220,346$ 1,220,346$ 572,484$ 1,792,830$ 1,792,830$ TexSTAR 0.86% 07/01/17 5,356,707 5,356,707 (2,633,595) 2,723,112 2,723,112 NexBank MMA 1.41% 07/01/17 – – 6,001,333 6,001,333 6,001,333 Green Bank MMA 1.20% 07/01/17 2,535,300 2,535,300 6,492 2,541,792 2,541,792 Lubbock National Bank CD 0.95% 07/03/17 4,031,762 4,031,762 9,662 4,041,424 4,041,424 Lubbock National Bank CD 1.05% 08/18/17 3,062,146 3,062,146 8,111 3,070,257 3,070,257 TOTAL 16,206,262$ 16,206,262$ 3,964,488$ 20,170,749$ 20,170,749$ March 31, 2017 June 30, 2017 March 31, 2017 June 30, 2017 Valley View Consulting, L.L.C.Page 5.37 Georgetown Economic Development Corporation (GEDCO) QUARTERLY INVESTMENT REPORT For the Quarter Ended June 30, 2017 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. 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. 38 Summary Quarter End Results by Investment Category: Asset Type Ave. Yield Book Value Market Value Book Value Market Value MMA 1.20% 2,009,222$ 2,009,222$ 2,014,368$ 2,014,368$ Pools 0.86% 3,501,534 3,501,534 3,726,016 3,726,016 5,510,756$ 5,510,756$ 5,740,384$ 5,740,384$ Quarter End Average Yield (1)Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.98%Total Portfolio 0.75% Rolling Three Mo. Treas. Yield 0.91%Rolling Three Mo. Treas. Yield 0.65% Rolling Six Mo. Treas. Yield 0.88%Rolling Six Mo. Treas. Yield 0.68% Quarterly TexPool Yield 0.65% Interest income provided in separate report. March 31, 2017 June 30, 2017 (1) Average Yield calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. (2) Fiscal Year-to-Date Average Yields calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. Valley View Consulting, L.L.C. Page 1.39 Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield Green Bank MMA 1.20% 07/01/17 06/30/17 2,014,368$ 2,014,368$ 1.00 2,014,368$ 1 1.20% TexasDAILY AAAm 0.85% 07/01/17 06/30/17 2,018,771 2,018,771 1.00 2,018,771 1 0.85% TexSTAR AAAm 0.86% 07/01/17 06/30/17 1,707,245 1,707,245 1.00 1,707,245 1 0.86% 5,740,384$ 5,740,384$ 5,740,384$ 1 0.98% (1) (2) June 30, 2017 (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.Page 3.41 Book Value Comparison Coupon/Maturity Face Amount/Purchases/Sales/Adjust/Face Amount/ Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value Green Bank MMA 1.20% 07/01/17 2,009,222$ 2,009,222$ 5,146$ –$ 2,014,368$ 2,014,368$ TexasDAILY 0.85% 07/01/17 2,014,825 2,014,825 3,947 2,018,771 2,018,771 TexSTAR 0.86% 07/01/17 1,486,709 1,486,709 220,536 1,707,245 1,707,245 TOTAL 5,510,756$ 5,510,756$ 229,629$ –$ 5,740,384$ 5,740,384$ Market Value Comparison Qtr to Qtr Change Green Bank MMA 1.20% 07/01/17 2,009,222$ 2,009,222$ 5,146$ 2,014,368$ 2,014,368$ TexasDAILY 0.85% 07/01/17 2,014,825 2,014,825 3,947 2,018,771 2,018,771 TexSTAR 0.86% 07/01/17 1,486,709 1,486,709 220,536 1,707,245 1,707,245 TOTAL 5,510,756$ 5,510,756$ 229,629$ 5,740,384$ 5,740,384$ March 31, 2017 June 30, 2017 March 31, 2017 June 30, 2017 Valley View Consulting, L.L.C.Page 5.43 Capital Improvement Projects For the Quarter Ended 2016/17 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance General Government CIP Public Safety & Facilities 6CR Public Safety Facility ‐ 181,358 (166,279) (15,079) [a] 6EW Transfer Station / Landfill 290,518 85,591 158,590 46,337 7AD Communications ‐ 11,951 (11,951) ‐ 9BE Preventative Maintenance 27,395 54,245 (48,648) 21,798 223 Fire Station 6 ESD 300,000 ‐ ‐ 300,000 224 ERP Project 250,000 ‐ ‐ 250,000 225 Radio Replacements, Fire 217,834 ‐ 217,834 ‐ 228 Radio Replacements, Police 217,834 ‐ 217,834 ‐ Public Safety & Facilities Subtotal 1,303,580 333,145 367,379 603,056 Parks CIP 1DX SH29 To Leander Rd SW 1,477,853 383,299 377,437 717,117 6CP San Gabriel Park Improvements 3,307,600 732,515 2,374,373 200,712 6DD New Village Parks ‐ 13,425 (13,425) ‐ 6DE SG Bank Stabilization ‐ 2,910 (2,910) ‐ 6DM VFW Park 30,353 823,853 (775,561) (17,939) [a] 6DO Garey Park 13,500,000 2,267,859 10,281,995 950,146 6ES ADA Facilities 295,278 6,372 9,060 279,845 6ET ADA Parks 368,242 170,349 29,877 168,017 9AW CDBG-MLK/3rd St ‐ 7,284 (6,809) (475) [a] 6DB McMaster Park ‐ 13,879 (13,879) ‐ 6EH Village Park 43,891 43,891 ‐ ‐ 6EI Founder's Park 70,000 ‐ ‐ 70,000 218 River Trail Expansion 100,000 ‐ ‐ 100,000 219 Radio Replacement Parks 64,333 ‐ 64,333 ‐ 220 Library Canopy 77,500 ‐ ‐ 77,500 221 Grace Heritage Rehab 286,762 ‐ ‐ 286,762 222 Aquatics Study 40,000 ‐ ‐ 40,000 Parks CIP Subtotal 19,661,812 4,465,635 12,324,491 2,871,686 Downtown & Community Service 46P Sheraton @ The Summit ‐ 2,372,644 ‐ (2,372,644) [a] 6EJ Parking Facility Study / Design ‐ 35,297 (35,297) ‐ 6EK Former PD Renovation ‐ 144 (144) ‐ 6EM Downtown West 12,423,883 344,456 (344,456) 12,423,883 6EY Downtown Electrical Projects 185,000 49,306 ‐ 135,694 9BE Preventative Maintenance ‐ ‐ 8,289 (8,289) [a] 226 Downtown Festival Area 460,000 ‐ ‐ 460,000 227 Municipal Court / CVB Redesign 230,000 ‐ ‐ 230,000 Downtown & Community Service Subtotal 13,298,883 2,801,847 (371,608) 10,868,644 Total General Government CIP 34,264,275$ 7,600,627$ 12,320,263$ 14,343,386$ NOTES: [a] Individual projects may go over budget as long as total expenditures for all CIP projects are within the department's total budget. 45 Capital Improvement Projects For the Quarter Ended 2016/17 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance Transportation Services CIP Streets / Transportation 1BZ 971 @ Austin Ave.‐ 101,614 (101,614) ‐ 1CC FM 1460 1,019,140 455,504 (22,287) 585,923 1CE Street Maintenance 924,259 31,780 100,180 792,299 1CJ Austin Avenue Sidewalks 70,000 21,650 48,370 (20) [a] 1CN Sealant 100,000 1,233 (1,233) 100,000 1CS DB Wood Bridge ‐ 22,739 (29,424) 6,685 1CU Cutler Process 1,055,000 130,628 22,312 902,060 1DI SW Bypass / WR Parkway 2,324,930 9,368,807 (9,368,742) 2,324,866 1DK Southeast Inner Loop ‐ 1,209,453 1,813 (1,211,265) [a] 1DL Austin Avenue Bridge 278,463 174,740 15,591 88,132 1DN Acces Rtw to Gov Srv ‐ 138,852 (45,314) (93,538) [a] 1DO Austin Avenue at 5th St Light ‐10,129 (39,458) 29,329 1DP 8th St Church to Myrtle ‐29,501 (29,417) (84) [a] 1DR PH 1 Signal and Curb Ramps 500,000 43,790 (38,990) 495,200 1DX SH29 to Leander Rd SW 1,477,853 383,339 377,437 717,077 1EB City Wide Sidewalks 1,864,398 295,250 638,288 930,860 1ED Signal @ Shell/Verde Vista 50,000 ‐ 9,993 40,007 5AL Curb & Gutter 623,000 756,571 (756,571) 623,000 9AU University Sidewalks ‐ 75,526 (75,526) ‐ 213 Street Overlay 300,000 ‐ ‐ 300,000 214 Chip and Seal 1,200,000 ‐ ‐ 1,200,000 Streets / Transportation Subtotal 11,787,043 13,251,105 (9,294,593) 7,830,531 Stormwater 5AL Curb and Gutter 500,000 182,025 (160,175) 478,150 5AW Regional Flood Study 617,929 352,691 281,956 (16,718) [a] 208 Stormwater Infrastructure 200,000 160,175 (160,175) 200,000 209 18th and Hutto Drainage 100,000 ‐ ‐ 100,000 210 2nd and Rock Pond 50,000 ‐ ‐ 50,000 211 Serenada Culvert Improvement 50,000 ‐ ‐ 50,000 212 Village PID Inlet 75,000 ‐ ‐ 75,000 Stormwater Subtotal 1,592,929 694,891 (38,394) 936,432 Airport 6VA Airport Master Plan ‐ ‐ ‐ ‐ Airport Subtotal ‐ ‐ ‐ ‐ Total Transportation Services CIP 13,379,972$ 13,945,996$ (9,332,987)$ 8,766,963$ NOTES: [a] Individual projects may go over budget as long as total expenditures for all CIP projects are within the department's total budget. 46 Capital Improvement Projects For the Quarter Ended 2016/17 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance Water Services CIP Wastewater Line Upgrades: 2BB Wastewater Master Plan Update ‐ ‐ ‐ ‐ 3BZ Wastewater - Street Rehab 136,000$ ‐$ ‐$ 136,000$ 3CJ Berry Creek Interceptor 20,328,900 64,952 (64,952) 20,328,900 5QZ Snead Drive ‐ ‐ ‐ ‐ 2BV Tin Barn / 17th & Austin Ave.‐ ‐ ‐ ‐ 2CJ Meter Issue ‐ ‐ ‐ ‐ 3CO Wolf Lakes Offsite WW 969,100 ‐ 49,350 919,750 6CR Public Safety Facility ‐ ‐ ‐ ‐ Wastewater Line Upgrades Subtotal 21,434,000 64,952 (15,602) 21,384,650 WW Edwards Aquifer Compliance: 3CK EARZ 2014-15 19,470 45,273 (25,803) ‐ 3CL EARZ 2015-2016 669,205 324,426 344,779 ‐ 3CM EARZ 2016-17 811,325 222,401 128,450 460,475 WW Edwards Aquifer Compliance Subtotal 1,500,000 592,100 447,426 460,475 WW Lift stations & Force Mains 3CD Stonehedge LS & FM 27,572 6,270 (6,270) 27,572 3CE Westinghouse LS & FM 3,448,258 577,218 1,547,653 1,323,387 3CN Park LS & FM 3,982,000 121,450 274,810 3,585,740 207 San Gabriel Belt Press 2,207,000 ‐ ‐ 2,207,000 3CI Austin Custom Molds LS Decommission ‐ ‐ ‐ ‐ WW Lift stations & Force Mains Subtotal 9,664,830 704,938 1,816,193 7,143,699 WW Treatment Plant 3CA Pecan Branch WWTP 11,125,009 181,657 10,924,312 19,040 WW Treatment Plant Subtotal 11,125,009 181,657 10,924,312 19,040 Water CIP 1DE Williams Dr. @ Jim Hogg Rd ‐ 524 (524) ‐ 2BW Westside Facility ‐ 335,504 (46,135) (289,369) [a] 2BZ West Loop (H-1B) Ph. 1 4,158,187 ‐ 310,750 3,847,437 2CE Rabbit Hill EST ‐ 644,732 (644,732) ‐ 2CH Cedar Breaks EST ‐ 1,715,854 (1,715,809) (45) [a] 2CI Shell Road Water Line 6,078,793 4,400 (4,400) 6,078,793 2CJ Meter Issue ‐ 187,428 ‐ (187,428) [a] 2CK Daniels Mountain GST ‐ 11,103 (8,536) (2,567) [a] 2CL Park WTP Pump Station ‐ 1,630 (1,630) ‐ 2CO Majestic Oaks Water Line ‐ (50,000) ‐ 50,000 2CP Sun City 1.5MG Est 3,050,000 170,000 130,000 2,750,000 2CQ Water Tank Rehab 480,000 5,000 75,000 400,000 2CR Sunny Slope Water Lines ‐ 20,000 ‐ (20,000) [a] 2CS WD Interim Water Master Plan ‐ 28,106 7,026 (35,132) [a] 51I CIS System 1,161,948 597,439 549,509 15,000 2JE CR 255 WD 14-2 3,000,000 ‐ 20,000 2,980,000 2JF Domel Improvements 4,500,000 46 56,794 4,443,160 200 Southlake WTP 1,000,000 ‐ ‐ 1,000,000 201 Water - Street Rehabilitation 330,000 ‐ ‐ 330,000 202 Leander Interconnect 575,000 ‐ ‐ 575,000 203 West Loop (H-1A)2,119,000 ‐ ‐ 2,119,000 204 LWTP Raw Water Intake Rehab 600,000 ‐ ‐ 600,000 205 Sequoia Ground Storage Tank 2,500,000 ‐ ‐ 2,500,000 206 Pumps and Storage 1,684,186 ‐ ‐ 1,684,186 Water CIP Subtotal 31,237,114 3,671,766 (1,272,687) 28,838,035 Rural Water CIP 2CN PRV Improv SH129 & CR245 ‐ 339 (338) (1) [a] 2CO Majestic Oaks Water Lines ‐ 223,494 (223,493) (1) [a] 2JE CR 255 (WD 14-2)‐ 92,500 (92,500) ‐ 2JF Domel Improvements ‐ 127,925 (127,925) ‐ Rural Water CIP Subtotal ‐ 444,258 (444,256) (2) AMI/CIS‐Water 2CG Asset Management ‐ 15,602 (5,781) (9,822) [a] Water/AMI/CIS Subtotal ‐ 15,602 (5,781) (9,822) Total Water Services CIP 74,960,953$ 5,675,271$ 11,449,606$ 57,836,076$ NOTES: [a] Individual projects may go over budget as long as total expenditures for all CIP projects are within the department's total budget. 47 Capital Improvement Projects For the Quarter Ended June 30, 2017 2016/17 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance GTEC CIP 5QC Southwest Bypass ‐ 6,294 ‐ (6,294) [a] 5QY NB Frontage Rd 2338 to Lakeway ‐ 440 (440) ‐ 5QX Northwest Boulevard Bridge 91,590 54,655 (54,655) 91,590 5RI Mays Street (S. Georgetown TIRZ)3,500,000 5,446,201 (5,172,356) 3,226,155 5RM Rivery Ext (Williams Dr. - Nwest Blvd.)4,000,000 2,205,581 (19,141) 1,813,560 5RN Pecan Center Dr. / Airport Rd.6,000,000 423,866 185,844 5,390,290 5RO Southwest Bypass - Laubach 354,920 21,282 ‐ 333,638 5RP Rivery TIA Improvements 1,157,121 159,938 (21,607) 1,018,791 5RQ Rabbit Hill Road Improvements ‐ 331,680 (331,680) ‐ 1CI Williams Dr. Widening ‐ 26,674 ‐ (26,674) [a] 1CC FM 1460 Roadway Improvement 650,000 67,904 80,429 501,667 215 Wolf Ranch Parkway Extension 283,350 ‐ ‐ 283,350 216 IH 35 / Hwy 29 Intersection 650,000 ‐ ‐ 650,000 Total GTEC CIP 18,155,731$ 8,744,514$ (5,333,607)$ 14,744,824$ Notes: [a] Individual projects may go over budget as long as total expenditures for all CIP projects are within the department's total budget. 48 Capital Improvement Projects For the Quarter Ended June 30, 2017 2016/17 Year to Date Year to Date Budget Expenditures Encumbrances Balance Electric CIP 9-0580-90-139 17th Street Rehab 50,000.00 ‐ ‐ 50,000 9-0580-90-140 7th Street Rehab 200,000.00 ‐ ‐ 200,000 9-0580-90-141 Downtown OH Rehab 500,000.00 ‐ ‐ 500,000 9-0580-90-142 Downtown West 970,000.00 ‐ ‐ 970,000 9-0580-90-143 Shell Road Feeders 450,000.00 ‐ ‐ 450,000 9-0580-90-144 Pole Relocation 50,000.00 ‐ 3,626.00 46,374 9-0580-90-145 Sidewalks South College 50,000.00 ‐ 59,009.20 (9,009) [a] 9-0580-90-146 Southwest Bypass Feeder 300,000.00 ‐ ‐ 300,000 9-0580-90-147 West 10th Street Rehab 98,000.00 ‐ ‐ 98,000 9-0580-90-148 West 11th Street Rehab 200,000.00 ‐ ‐ 200,000 9-0580-90-300 Electrical System Improvement ‐ 1,097,013.14 (203,102.86) (893,910) [a] 9-0580-90-310 Power Quality Improvements 80,000.00 13,494.03 ‐ 66,506 9-0580-90-320 Sectionalization Improvements 50,000.00 ‐ ‐ 50,000 9-0580-90-330 Pole Improvements ‐ 4,442.05 ‐ (4,442) [a] 9-0580-90-331 Pole Inspections 50,000.00 ‐ ‐ 50,000 9-0580-90-350 Relocation Projects Reimbursements ‐ 40,055.93 ‐ (40,056) [a] 9-0580-90-410 New Development Projects 1,200,000.00 2,555,439.06 713,147.07 (2,068,586) [a] 9-0580-90-420 Reimbursements New Development ‐ 37,445.00 ‐ (37,445) [a] 9-0580-90-430 Street Lighting 88,000.00 8,054.91 ‐ 79,945 9-0580-90-500 Consultant Engineering 150,000.00 77,757.91 ‐ 72,242 9-0580-90-510 System Mapping Support ‐ ‐ ‐ ‐ Electric CIP Subtotal 4,486,000 3,833,702 572,679 79,619 T&D 9-0585-90-003 Electric Substations ‐ 17,742.59 (15,973.75) (1,769) [a] 9-0585-90-021 Communication Equipment 295,000.00 167,964.77 60,558.89 66,476 T&D Subtotal 295,000 185,707 44,585 64,708 CIS 9-0580-91-105 CIS system 2,175,000.00 239,121.68 1,627,312.97 308,565 CIS Subtotal 2,175,000 239,122 1,627,313 308,565 Total Electric CIP 6,956,000$ 4,258,531$ 2,244,578$ 452,891$ NOTES: [a] Individual projects may go over budget as long as total expenditures for all CIP projects are within the department's total budget. 49 City of Georgetown Project Update As of June 30, 2017 Projects with GO Bond Funds Remaining Parks Projects Net Proceeds Interest Allocated to Project Spent to Date Amount Remaining for Project Status Westside Park - design (GO 2013)50,000.00 24,230.60 25,769.40 Complete* SG Bank Stabilization (GO 2013)500,000.00 480,665.91 19,334.09 In Progess McMaster Park (GO 2013)112,000.00 83,126.19 28,873.81 Complete* Historic Park (GO 2013)500,000.00 242,229.00 257,771.00 Reallocated** San Gabriel Park (GO 2013)257,771.00 0.00 257,771.00 In Progess San Gabriel Park Rehabilitation (GO 2015A)1,785,000.00 250,217.84 1,534,782.16 In Progess Garey Park (GO 2016)3,002,864.93 1,856,419.86 1,146,445.07 In Progess Garey Park (GO 2017)5,500,000.00 0.00 5,500,000.00 In Progess San Gabriel Park (GO 2017)1,000,000.00 0.00 1,000,000.00 In Progess Total Parks Bond Funding Remaining 12,707,635.93 2,936,889.40 9,770,746.53 Transportation Projects Net Proceeds Interest Allocated to Project Spent to Date Amount Remaining for Project Status FM 1460 (GO 2014)4,756,578.65 10,313.31 4,766,691.64 200.32 Complete* FM 1460 (GO 2015)4,295,484.08 154,698.12 4,140,785.96 In Progess Southwest Bypass (GO 2015A)10,000,000.00 9,982,147.49 17,852.51 In Progess Southwest Bypass (GO 2016)10,009,549.77 1,015,375.93 8,994,173.84 In Progess Total Transportation Bond Funding Remaining 29,061,612.50 10,313.31 15,918,913.18 13,153,012.63 *Completed projects with funds remaining are available to be reallocated by Council to other similar projects in the future. **The remaining funds for Historic Park were reallocated to San Gabriel Park in the February 2017 Budget Amendment approved by Council. 50 Unfunded Liability & Commitments Financial Impact/Notes Status Updates ‐ 3/31/17 Status Updates ‐ 6/30/17 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 2016 and 2017. $75,000 annual transfer will be included in FY 2018 proposed budget. Columbarium is in design stage. With the rebid and consolidation of the citywide mowing contract, maintenance costs have increased beyond revenue from plot and niche sales and will slow the growth of the perpetual reserve. Staff and Council should discuss the long‐term plan for the perpetual reserve and maintenance of the cemeteries. Unfunded Actuarial Accrued Liability (UAAL) Recognizes the outstanding liability for the City’s employee retirement plan through TMRS. The City contributes monthly to fund the UAAL, based on an annual percentage of payroll. Actual % of payroll costs is recognized within each fund. The UAAL is provided by TMRS and lags one year. As of 12/30/15, the UAAL was $20.9M and is considered 82.2% funded. The City will amortize any UAAL over a period not to exceed the amortization period used by the TMRS actuary. The City may amortize its UAAL more quickly by making contributions to TMRS in excess of the rate specified by TMRS. The 2017 TMRS contribution rate is 12.56%. As of 12/30/16, the UAAL was $22M and is considered 83% funded. The 2018 TMRS contribution rate is 12.41%. 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 ISF who in turn processes their health insurance claims. This is an actuarial calculation based on current and future employees on future City health insurance costs, and has numerous and complex factors in its calculation. Retirees pay their own premiums, and thus the liability is considered “pay as you go”. With additional employees being added, potential future retiree impacts increase. The 2016 current net OPEB liability is $972,576 which is an increase of $185,876 over the prior year. No change, updated once annually. 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 FY 2017 mid‐year budget amendment will appropriate an additional $222,000 from the Council Discretionary Fund to the General Fund to establish the Benefit Payout Reserve. When combined with the $30,000 currently budgeted, the 15% liability policy is fully funded for the year. No change, fully funded in FY 2018 budget. In FY 2017 these funds were used for two long‐tenured payouts in Police and Fire. 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 and is projected to be $4.5M in FY2017. Potentially, a similar reserve could be developed for the Water Fund. The Electric Fund experienced higher than usual purchased power costs in FY 2016. Staff and Council took action to amend the FY 2016 budget and FY 2017 budget to maintain $4,775,000 in cash reserves for Contingency. Cash reserves for Rate Stabilization will need to be built back up. The Electric Fund will procure a new rate study in FY 2018 to determine a new rate stabilization target. In the FY 2018 budget the rate stabilization reserve increased by $1 million to $5.5 million. The rate study is funded in the budget. June 30, 2017 CITY OF GEORGETOWN Long-term Commitments, Reservations, and Other Unfunded Liabilities 51 Unfunded Liability & Commitments Financial Impact/Notes Status Updates ‐ 3/31/17 Status Updates ‐ 6/30/17 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. 2017 funded projects include repairing pavement, replacing lights, and sealing doors and roofs in hangars, rehabbing taxiways and improving signage. The airport master plan is still being developed, and staff continue to look for grant opportunities for funding. The FY2018 proposed budget includes the establishment of 75 days of expenditure contingency reserve. The Airport Fund continues to have gradual increase in fund balance which is on pace to exceed original FY2017 budget predictions. The current Airport Improvement Project which includes the new parallel taxiway and fuel storage facility will continue well into FY2018. The current Airport Master Plan effort is scheduled to wrap up sometime in FY2018. 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. The City amended and adopted the FY2016 Transition Plan on 1/10/2017. This quarter the City completed renovations to the Parks Administration building, providing accessible routes into the City facility which is also a public voting facility. In the third quarter the City began improvements including curb ramps, crosswalks, pedestrian‐actuated signal infrastructure (“ped heads”), and sidewalk extensions/reconstructions. ADA and Texas Department of Licensing and Regulation compliant sidewalks and ramps identified in the 2015 Sidewalk Master Plan are underway, including 7 crossings of Williams Drive, 3 downtown sidewalks and the Austin Avenue/Morrow Street crosswalk. Sidewalk Maintenance 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. Annual funding for sidewalk construction and maintenance is approximately $75,000. Construction on several sidewalk improvement projects throughout the city began in the spring. The entire project is expected to be completed in late November. Sidewalk improvements include: • Del Webb Boulevard and Whispering Wind Drive • Williams Drive and Woodlake Drive • Williams Drive and Wildwood Drive • Williams Drive and Shell Road • Williams Drive and Lakeway Drive • Williams Drive and River Bend Drive • Austin Avenue and Morrow Street • Austin Avenue from Morrow Street to Williams Drive • Eighth and Rock streets • Eighth Street from Church to Myrtle streets • Sidewalks in Founders’ Park • Sidewalk along southbound Interstate 35 frontage road from Leander Road to Hwy. 29. Funding for sidewalks in the FY2018 budget is $576,000. Nearly completed current year projects include: Del Webb Boulevard and Whispering Wind Drive, Williams Drive and Woodlake Drive, Williams Drive and Wildwood Drive, Williams Drive and Shell Road, Williams Drive and Lakeway Drive, Williams Drive and River Bend Drive, and Austin Avenue and Morrow Street. Austin Avenue from Morrow Street to Myrtle will start in September 2017. Eighth and Rock streets – Currently working this site installing Sidewalk, parking spaces, drainage and installing Trees. Completion around 8‐15‐2017. Eighth Street from Church to Myrtle streets – Will start work at this site around 8‐15‐2017. Sidewalks in Founders’ Park‐ Projected start date around 9‐11‐ 2017. Sidewalk along southbound Interstate 35 frontage road from Leander Road to Hwy. 29. ‐ Sidewalk is in, Handrails are being made. 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, soon to be on EAM. The outdoor pool slide replacement at the recreation center has been moved to 2018 since it was repaired. All other projects are on schedule. Park pavilion renovations at San Jose Park, Chautauqua Park, and Katy Crossing Park are scheduled to be completed by the end of September. Additionally, several deteriorating park signs are scheduled for replacement in the next few months. 52 Unfunded Liability & Commitments Financial Impact/Notes Status Updates ‐ 3/31/17 Status Updates ‐ 6/30/17 Emergency Medical Service Special Revenue Fund 2014/15 Annual Budget assumed EMS Program to be operationally active by June 2015 with revenues to offset operating and capital costs. Operating deficit would be funded internally until capital costs were recovered in 5 years. FY2017 budget includes 3 FF/Paramedics to mitigate overtime for the 4th TRV, and half of a position to monitor the revenue collection contract. As of April 30, 2017, EMS revenue collections are about $1 million, which is ahead of the budget projections. Year‐end revenue is estimated to be $2.4 million, budget is $2.2 million. Staff continue to monitor overtime and medical supply expenses monthly. As of June 30, 2017, EMS revenue collections are about $1.4 million, which is ahead of the budget projections. Year‐end revenue is estimated to be $2.47 million, budget is $2.2 million. Staff continue to monitor overtime and medical supply expenses monthly. EMS revenue is projected to increase to 2.5 million in FY2018. The fund continues to improve its position as collection rate and demands for service grow. The EMS fund is expected to significantly draw down initial start‐up costs in FY2018. Major Technology Replacement (IT Internal Service Fund) CIS billing to be replaced in 2016, funded by utility funds. Enterprise Resource Planning System (Finance and HR) selection consultant funding included in the FY2017 budget. Funding for acquisition of the new Enterprise Resource Planning system(s) will be considered in the FY 2018 budget process. FY 2018 is year two of IT's revamped cost allocation model based on actual usage of staff, hardware, and software resources. The FY 2017 mid year budget amendment includes $250,000 of one‐time money from the Council Discretionary fund that will be set aside for the ERP project in FY 2018. Staff are exploring funding methods of the ERP, including short‐term debt, cash, and the IT allocation. The FY2018 IT allocation model includes $500K of cash funding for the annual subscription fees for the new ERP system. This is an estimate until staff select an actual vendor. The model also includes $300K of increases to existing software contracts. These large increases are reflected through the many funds throughout the City. Passing through these costs is necessary to keep the fund balance from decreasing. Radio Equipment Replacement Communication system consisting of 500 on‐body and in‐ vehicle radios for Police, Fire, and GUS. Replacement radios are compatible with newer technology. Current model no longer supported in 2018. Staff proposed 3 year replacement schedule for FY2017‐2019, $500K per year. Phase I approved in FY2017 and led by new Emergency Management Coordinator. Projected year 4 costs are additional $250,000. Year two of the radio program is funded in the FY2018 budget. 53