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Home My WebLink AboutFY 18 - Q1 Report_RedactedFINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended December 31, 2017 Table of Contents Executive Summary .................................................................................................................................... 1-5 General Fund Schedule ................................................................................................................................. 6 Electric Fund Schedule .................................................................................................................................. 7 Water Services Fund Schedule ...................................................................................................................... 8 Joint Services Fund Schedule ......................................................................................................................... 9 Council Discretionary Fund Schedule .......................................................................................................... 10 Convention & Visitors Bureau Fund Schedule ............................................................................................. 11 Paramedic Fund Schedule ........................................................................................................................... 12 Airport Operations Fund Schedule .............................................................................................................. 13 Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 14 Georgetown Economic Development Corporation Fund Schedule ............................................................. 15 Quarterly Investment Report - City ........................................................................................................ 16-30 Quarterly Investment Report - GTEC ...................................................................................................... 31-36 Quarterly Investment Report - GEDCO ................................................................................................... 37-42 Grant Applications ....................................................................................................................................... 43 Capital Improvement Projects ................................................................................................................ 44-48 Long-term Commitments, Reservations, and Other Unfunded Liabilities .............................................. 49-51 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 11,155,457 11,155,457 Revenue Administrative Charges 2,087,555 512,898 521,886 2,087,555 All Other Revenue 4,056,192 447,791 986,587 4,056,192 Development and Permit Fees 2,553,500 171,477 559,999 2,553,500 Franchise Fees 5,203,863 200,536 1,110,736 5,203,863 Garey Park 225,000 - - 225,000 Parks and Rec Fees 2,339,220 101,079 376,991 2,339,220 Property Tax 13,400,000 5,952,523 7,019,146 13,400,000 ROI 8,417,635 557,786 2,034,309 8,417,635 Sales Tax 14,300,500 1,066,419 1,092,503 14,300,500 Sanitation Revenue 8,974,500 711,643 2,102,087 8,974,500 Transfer In 435,200 68,750 78,950 435,200 Revenue Total 61,993,165 9,790,902 15,883,194 61,993,165 Expense Administrative Services 1,526,014 170,110 402,138 1,526,014 Animal Services 875,831 92,130 274,415 875,831 Arts & Culture 80,900 2,113 7,404 80,900 City Council 175,087 12,553 53,757 175,087 City Secretary 920,537 61,715 194,547 920,537 Code Enforcement 415,749 42,415 95,335 415,749 Communications 400,137 45,774 113,422 400,137 Environmental Services 7,623,412 601,358 1,372,269 7,623,412 Fire Emergency Services 10,789,592 1,225,065 2,888,205 10,789,592 Fire Support Services 2,648,858 312,533 759,074 2,648,858 Garey Park 621,557 10,479 36,321 621,557 General Gov't Contracts 3,253,786 296,467 1,403,005 3,253,786 Inspections 1,231,441 128,058 277,838 1,231,441 Library 2,554,935 258,402 698,845 2,554,935 Municipal Court 632,929 71,487 169,607 632,929 Parks 2,578,108 263,456 784,735 2,578,108 Parks Admin 607,229 61,282 161,541 607,229 Planning 1,527,911 130,794 318,579 1,527,911 Police Admin 2,234,502 207,452 599,836 2,234,502 Police Operations 11,474,871 1,509,200 3,407,399 11,474,871 Public Works 1,071,301 56,155 478,059 1,071,301 Rec Programs 1,338,038 64,214 221,635 1,338,038 Recreation 2,527,496 260,041 654,100 2,527,496 Streets 3,961,864 252,154 1,180,652 3,961,864 Tennis Center 435,014 36,986 95,141 435,014 Transfer Out 1,739,523 3,739 1,705,870 1,739,523 Expense Total 63,246,622 6,176,132 18,353,729 63,246,622 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (1,253,457)3,614,770 (2,470,535)(1,253,457) AVAILABLE FUND BALANCE 9,902,000 9,902,000 Year-End Projection to Approved: Dec FY2018 General Fund 6 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 12,328,770 12,328,770 Operating Revenue Electric Revenue 67,595,139 4,854,985 15,553,598 67,595,139 Interest 48,318 3,530 13,906 48,318 Other Revenue 3,165,000 340,169 775,960 3,165,000 Operating Revenue Total 70,808,457 5,198,685 16,343,464 70,808,457 Operating Expenditures CRR Credits (2,000,000) (716,736) (2,342,898) (2,000,000) Georgetown Utility Systems 17,915,971 2,110,383 5,080,539 17,915,971 Purchased Power 44,000,000 4,915,719 11,495,882 44,000,000 Transfer Out-Interfund Transfers 92,600 - 92,600 92,600 Transfer Out-ROI 5,493,707 372,904 1,264,707 5,493,707 Operating Expenditures Total 65,502,278 6,682,270 15,590,830 65,502,278 Total Net Operations 5,306,179 (1,483,586) 752,634 5,306,179 Non-Operating Revenue Bond Proceeds 6,537,000 - - 6,537,000 Transfers in 90,981 - 90,981 90,981 Non-Operating Revenue Total 6,627,981 - 90,981 6,627,981 Non-Operating Expenditures CIP 9,385,000 297,954 2,780,749 9,385,000 Interest Expense 1,697,769 - - 1,697,769 Debt Issuance Cost 15,000 - - 15,000 Debt Service 2,539,258 - - 2,539,258 Non-Operating Expenditures Total 13,637,027 297,954 2,780,749 13,637,027 Total Net Non-Operations (7,009,046) (297,954) (2,689,768) (7,009,046) EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (1,702,867) (1,781,540) (1,937,134) (1,702,867) ENDING FUND BALANCE 10,625,903 10,625,903 Contingency 5,125,000 5,125,000 Rate Stabilization 5,500,000 5,500,000 AVAILABLE FUND BALANCE 902 902 Year-End Projection to Approved: Dec FY2018 Electric Fund 7 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 14,440,717 14,440,717 Operating Revenue Capital Recovery Fee 6,672,500 1,080,085 2,606,743 6,672,500 Interest 192,385 75,500 245,269 192,385 Irrigation Utility Revenue 225,000 15,856 76,371 225,000 Other Revenue 2,176,250 372,154 1,611,744 2,176,250 Raw Water Revenue 178,500 11,501 23,942 178,500 Transfer In, Debt 116,613 - - 116,613 Wastewater Utility Revenue 10,850,000 884,617 2,691,970 10,850,000 Water Utility Revenue 27,748,195 1,957,754 6,901,982 27,748,195 Operating Revenue Total 48,159,443 4,397,466 14,158,021 48,159,443 Operating Expenditures Irrigation 204,300 7,088 35,549 204,300 Transfer Out, Fleet/Joint Service 62,000 - 62,000 62,000 Transfer Out, General 425,000 68,750 68,750 425,000 Transfer Out, ROI 2,686,505 168,137 712,674 2,686,505 Transfer Out, Utilities 90,981 - 90,981 90,981 Wastewater Distribution 613,000 21,491 289,452 613,000 Wastewater Plant Management 2,437,025 168,297 1,094,576 2,437,025 Water Administration 17,147,063 994,403 6,067,478 17,147,063 Water Distribution 2,723,300 111,484 573,951 2,723,300 Water Operations 3,769,545 450,372 1,033,606 3,769,545 Water Plant Management 2,548,726 171,967 658,091 2,548,726 Operating Expenditures Total 32,707,445 2,161,989 10,687,108 32,707,445 Total Net Operations 15,451,998 2,235,477 3,470,913 15,451,998 Non-Operating Revenue Bond Proceeds - - - - Non-Operating Revenue Total - - - - Non-Operating Expenditures CIP 90 11,650,000 775,145 6,883,399 11,650,000 CIP 91 - - - - Debt Service 5,344,535 - - 5,344,535 Non-Operating Expenditures Total 16,994,535 775,145 6,883,399 16,994,535 Total Net Non-Operations (16,994,535) (775,145) (6,883,399) (16,994,535) EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (1,542,537) 1,460,332 (3,412,486) (1,542,537) ENDING FUND BALANCE 12,898,180 12,898,180 Contingency 6,000,000 6,000,000 AVAILABLE FUND BALANCE 6,898,180 6,898,180 Year-End Projection to Approved: Dec FY2018 Water Fund 8 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 302,565 302,565 Revenue Administrative Charges 8,966 747 2,241 8,966 GEDCO Admin/Contract Fee 221,328 18,444 55,332 221,328 GTEC Admin/Contract Fee 166,882 13,907 41,721 166,882 Interest 10,000 778 3,410 10,000 Other 26,774 43,113 135,502 26,774 Service Fees - Airport 131,785 10,982 32,946 131,785 Service Fees - Conservation 100,350 8,363 25,089 100,350 Service Fees - Electric 4,233,598 352,800 1,058,400 4,233,598 Service Fees - General 3,345,567 278,797 836,391 3,345,567 Service Fees - Stormwater 938,969 78,247 234,741 938,969 Service Fees - Water 7,248,183 604,015 1,812,045 7,248,183 Transfer In 5,000 - - 5,000 Revenue Total 16,437,402 1,410,193 4,237,818 16,437,402 Expense Accounting 956,503 102,936 242,197 956,503 City Wide HR 415,400 17,550 81,570 415,400 Conservation 982,774 54,533 143,572 982,774 Customer Care 4,054,593 381,658 975,360 4,054,593 Economic Development 596,092 56,969 152,560 596,092 Engineering 2,143,112 213,061 487,076 2,143,112 Engineering Support 1,069,289 92,397 228,395 1,069,289 Finance Administration 1,113,042 91,875 489,892 1,113,042 Gus Administration 1,469,912 144,020 347,947 1,469,912 Human Resources 949,739 86,372 223,177 949,739 In-House Legal 913,277 77,874 167,985 913,277 Management Services Contracts 705,000 10,153 540,339 705,000 Joint Svcs Con 569,000 71,691 213,629 569,000 Purchasing 734,434 87,393 186,521 734,434 Transfer Out 67,800 - 30,800 67,800 Expense Total 16,739,967 1,488,482 4,511,020 16,739,967 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (302,565)(78,290)(273,202)(302,565) AVAILABLE FUND BALANCE 0 0 Year-End Projection to Approved: Dec FY2018 Joint Services Fund 9 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 300,473 300,473 Revenue Interest 2,000 734 2,555 2,000 Transfer In, General Fund 1,000,000 - 1,000,000 1,000,000 Revenue Total 1,002,000 734 1,002,555 1,002,000 Expense Transfer Out, GCP - - - - Transfer Out, General Fund - - - - Transfer Out, ISF - - - - Transfer Out, Joint Services - - - - Expense Total - - - - EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 1,002,000 734 1,002,555 1,002,000 ENDING FUND BALANCE 1,302,473 1,302,473 Year-End Projection to Approved: Dec 2017 Council Discretionary Fund 10 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 690,201 690,201 Revenue Hotel/Motel Occupancy Tax Revenues 1,200,000 182,527 359,246 1,200,000 Interest 1,500 475 1,805 1,500 Other 12,000 2,581 5,275 12,000 Poppy Festival 109,400 8,713 9,077 109,400 Revenue Total 1,322,900 194,296 375,403 1,322,900 Expense Operations 551,381 31,291 211,630 513,406 Personnel 361,237 43,859 95,992 359,874 Poppy Festival 136,200 24 44 136,200 Transfer to Facilities 49,565 4,130 12,390 49,565 Transfer to Fleet 5,090 424 1,272 5,090 Transfer to General Fund 10,200 - 10,200 10,200 Transfer to Information Technology 24,806 2,067 6,201 24,806 Expense Total 1,138,479 81,795 337,729 1,138,479 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 184,421 112,501 37,674 184,421 ENDING FUND BALANCE 874,622 874,622 Contingency 187,147 187,147 Reserved for Capital 687,474 687,474 AVAILABLE FUND BALANCE - - Year-End Projection to Approved: Dec FY2018 Convention & Visitors Bureau Fund 11 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE (501,205) (501,205) Revenue TASPP Revenue - - - - EMS Revenue 2,510,662 186,430 569,858 2,510,662 Franchise Fees 20,000 - 4,000 20,000 Transfer In 44,870 3,739 11,217 44,870 Revenue Total 2,575,532 190,169 585,075 2,575,532 Expense O&M 526,552 43,877 201,565 526,552 Personnel 1,548,812 253,491 573,334 1,548,812 Expense Total 2,075,364 297,368 774,899 2,075,364 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 500,168 (107,198) (189,824) 500,168 AVAILABLE FUND BALANCE (1,037) (1,037) Year-End Projection to Approved: Dec FY2018 Paramedic Fund 12 APPROVED BUDGET CURRENT PERIOD YEAR YO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 436,734 436,734 Operating Revenue Fuel and Terminal Sales 2,794,919 190,750 661,612 2,794,919 Interest and Other 65,600 2,333 14,914 65,600 Leases and Rentals 882,484 72,511 216,882 882,484 Operating Revenue Total 3,743,003 265,594 893,408 3,743,003 Operating Expenditures Debt Service 125,850 - - 125,850 Operations-Fuel 2,300,000 147,921 2,200,287 2,300,000 Operations-Non Fuel 663,754 44,362 159,044 663,754 Personnel 375,920 41,832 95,629 375,920 Transfers Out 53,500 - 53,500 53,500 Operating Expenditures Total 3,519,024 234,115 2,508,461 3,519,024 TOTAL NET OPERATIONS 223,979 31,479 (1,615,053) 223,979 Non-Operating Revenue Bond Proceeds 150,000 150,000 Grants 35,000 - - 35,000 Non-Operating Revenue Total 185,000 - - 185,000 Non-Operating Expenditures Airport Master Plan - - 144 - Airport Ramp 15,000 - - 15,000 Edge Lighting 150,000 - - 150,000 Hangar Upgrades 33,000 - - 33,000 Pavement Upgrades 40,000 - - 40,000 Runway Rehab 16,500 - - 16,500 Taxiway Edge Lighting - - - - Wildfire Management 25,500 - - 25,500 Wildlife Hazard Management - - - - Non-Operating Expenditure Total 280,000 - 144 280,000 TOTAL NET NON-OPERATIONS (95,000) - (144) (95,000) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 128,979 31,479 (1,615,196) 128,979 RESERVES Contingency 213,158 213,158 Reserves Total 213,158 213,158 AVAILABLE FUND BALANCE 352,555 352,555 Airport Operations Fund Year End Projection to Approved as of December 2017 13 APPROVED BUDGET CURRENT PERIOD YEAR YO DATE (W/ENCUMB) YEAR‐END PROJECTION BEGINNING FUND BALANCE 9,788,621 9,788,621 Operating Revenue Sales Tax 6,575,000 473,964 518,965 6,575,000 PID Assessments 553,201 ‐‐ 553,201 Interest 127,000 ‐42,908 127,000 Operating Revenue Total 7,255,201 473,964 561,874 7,255,201 Operating Expenditure ‐ Administrative Support 364,814 ‐60,552 364,814 Operating Expenditure Total 364,814 ‐60,552 364,814 TOTAL NET OPERATIONS 6,890,387 473,964 501,322 6,890,387 Non‐Operating Expenditure Pecan Center Dr to Airport Rd (FY15)‐‐195,573 ‐ Rivery TIA Improvements ‐834 872 ‐ Rivery‐Extension Williams Dr to NW Blvd (FY16)‐177 22,297 ‐ SH 29 to RM 2243 SW Bypass ‐1,298 204,738 ‐ FM1460 Widening ‐‐121 ‐ Mays St ‐6,845 245,639 ‐ Tamiro Improvements 410,000 ‐‐ 410,000 Available for Projects TBD 1,643,750 ‐‐ 1,643,750 Debt Service 3,330,135 ‐‐ 3,330,135 Non‐Operating Expenditure Total 5,383,885 9,154 669,241 5,383,885 TOTAL NET NON‐OPERATIONS (5,383,885)(9,154)(669,241) (5,383,885) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 1,506,502 464,810 (167,919) 1,506,502 ENDING FUND BALANCE 11,295,123 11,295,123 RESERVES Contingency 1,643,750 1,643,750 Reserved Bond Proceeds 4,150,000 4,150,000 Reserves Total 5,793,750 5,793,750 AVAILABLE FUND BALANCE 5,501,373 5,501,373 Georgetown Transportation Enhancement Corporation Fund Year End Projection to Approved as of December 2017 14 APPROVED BUDGET CURRENT PERIOD YEAR YO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 5,902,863 5,902,863 OPERATING REVENUES - Interest 25,400 6,730 18,189 25,400 Lease Revenue (Grape Creek)24,000 4,000 16,000 24,000 Miscellaneous Revenue 61,100 10,991 10,991 61,100 Sales Tax 1,643,750 118,491 129,741 1,643,750 OPERATING REVENUES Total 1,754,250 140,212 174,921 1,754,250 OPERATING EXPENDITURES - Debt Service 116,613 - - 116,613 Interest Expense 87,569 - - 87,569 Joint Services Allocation 221,328 18,444 55,332 221,328 Miscellaneous Expense 11,108 10,991 10,991 11,108 Principal Reduction 125,000 - - 125,000 Promotional & Marketing Program 81,000 1,050 7,172 81,000 Special Services 27,500 - 5,000 27,500 Supplies 300 - - 300 Travel & Training 1,500 - - 1,500 OPERATING EXPENDITURES Total 671,918 30,485 78,495 671,918 TOTAL NET OPERATIONS 1,082,332 109,727 96,426 1,082,332 NON-OPERATING EXPENDITURES - Catalyst 36,000 2,833 30,172 36,000 DisperSol 60,000 - - 60,000 Economic Development Projects -Undetermined 6,338,518 - - 6,338,518 Texas Life Sciences 139,740 139,740 139,740 139,740 NON-OPERATING EXPENDITURES Total 6,574,258 142,573 169,912 6,574,258 TOTAL NET NON-OPERATIONS (6,574,258) (142,573) (169,912) (6,574,258) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (5,491,926) (32,846) (73,486) (5,491,926) ENDING FUND BALANCE 410,938 410,938 RESERVES Contingency 410,938 410,938 RESERVES Total 410,938 - - 410,938 AVAILABLE FUND BALANCE - - Georgetown Economic Development Corporation Fund Year End Projection to Approved as of December 2017 15 CITY QUARTERLY INVESTMENT REPORT For the Quarter Ended December 31, 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 Book Value Market Value Ave. Yield Book Value Market Value Demand Accounts 13,874,086$ 13,874,086 0.37% 12,663,029$ 12,663,029$ NOW/MMA 45,875,729 45,875,729 1.58% 58,104,096 58,104,096 Pools 61,661,393 61,661,393 1.18% 57,759,813 57,759,813 CDs/Securities 36,808,988 36,808,988 1.37% 37,358,724 37,358,724 Totals 158,220,196$ 158,220,196$ 165,885,663$ 165,885,663$ Quarter End Average Yield (1)Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.30%Total Portfolio 1.30% Rolling Three Mo. Treas. Yield 1.23%Rolling Three Mo. Treas. Yield 1.23% Rolling Six Mo. Treas. Yield 1.26%Rolling Six Mo. Treas. Yield 1.26% Quarterly TexPool Yield 1.18% 13,585$ Interest income provided in separate report.13,585$ September 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 December 31, 2017 Valley View Consulting, L.L.C. 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)0.37% 01/01/18 12/31/17 12,663,029$ 12,663,029$ 1.00 12,663,029$ 1 0.37% Green Bank MMA 1.32% 01/01/18 12/31/17 8,039,817 8,039,817 1.00 8,039,817 1 1.32% NexBank MMA 1.62% 01/01/18 12/31/17 50,064,279 50,064,279 1.00 50,064,279 1 1.62% TexPool AAAm 1.18% 01/01/18 12/31/17 15,231,860 15,231,860 1.00 15,231,860 1 1.18% TexSTAR AAAm 1.18% 01/01/18 12/31/17 42,527,954 42,527,954 1.00 42,527,954 1 1.18% Lubbock National Bank CD 1.20% 02/23/18 02/23/17 6,060,038 6,060,038 100.00 6,060,038 54 1.20% LegacyTexas Bank CD 1.20% 03/09/18 03/09/17 5,045,388 5,045,388 100.00 5,045,388 68 1.20% Southside Bank CD 1.22% 06/01/18 05/09/17 3,521,559 3,521,559 100.00 3,521,559 152 1.22% Southside Bank CD 1.25% 08/01/18 05/09/17 5,031,556 5,031,556 100.00 5,031,556 213 1.25% Southside Bank CD 1.60% 11/06/18 11/06/17 4,000,000 4,000,000 100.00 4,000,000 310 1.60% Southside Bank CD 1.60% 11/19/18 11/17/17 3,079,386 3,079,386 100.00 3,079,386 323 1.60% Lubbock National Bank CD 1.50% 01/03/19 01/03/17 3,041,436 3,041,436 100.00 3,041,436 368 1.50% R Bank CD 1.50% 02/21/19 02/21/17 6,067,239 6,067,239 100.00 6,067,239 417 1.50% Independent Bank CD 1.60% 03/01/19 05/09/17 1,512,123 1,512,123 100.00 1,512,123 425 1.60% 165,885,663$ 165,885,663$ 165,885,663$541.30% (1) (2) December 31, 2017 (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees. Valley View Consulting, L.L.C.19 City - Book and Market Value Comparison Coupon/ Maturity Face Amount/Purchases/ Sales/Adjust/ Face Amount/ Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value JPMorgan Chase Cash 0.37% 01/01/18 13,874,086$ 13,874,086$ –$(1,211,056)$ 12,663,029$ 12,663,029$ Green Bank MMA 1.32% 01/01/18 6,484,301 6,484,301 1,555,515 8,039,817 8,039,817 NexBank MMA 1.62% 01/01/18 39,391,427 39,391,427 10,672,852 50,064,279 50,064,279 TexPool 1.18% 01/01/18 5,921,168 5,921,168 9,310,692 15,231,860 15,231,860 TexSTAR 1.18% 01/01/18 55,740,226 55,740,226 (13,212,272) 42,527,954 42,527,954 Lubbock National Bank CD 1.00% 10/02/17 2,026,908 2,026,908 (2,026,908)– – Green Bank CD 0.81% 11/03/17 1,530,323 1,530,323 (1,530,323)– – Southside Bank CD 0.92% 11/17/17 3,072,339 3,072,339 (3,072,339)– – Lubbock National Bank CD 1.20%02/23/18 6,041,944 6,041,944 18,094 6,060,038 6,060,038 LegacyTexas Bank CD 1.20%03/09/18 5,030,323 5,030,323 15,065 5,045,388 5,045,388 Southside Bank CD 1.22%06/01/18 3,510,763 3,510,763 10,796 3,521,559 3,521,559 Southside Bank CD 1.25%08/01/18 5,015,753 5,015,753 15,803 5,031,556 5,031,556 Southside Bank CD 1.60%11/06/18 – – 4,000,000 4,000,000 4,000,000 Southside Bank CD 1.60%11/19/18 – – 3,079,386 3,079,386 3,079,386 Lubbock National Bank CD 1.50%01/03/19 3,030,090 3,030,090 11,346 3,041,436 3,041,436 R Bank CD 1.50%02/21/19 6,044,496 6,044,496 22,743 6,067,239 6,067,239 Independent Bank CD 1.60%03/01/19 1,506,049 1,506,049 6,074 1,512,123 1,512,123 TOTAL 158,220,196$ 158,220,196$ 28,718,365$ (21,052,898)$ 165,885,663$ 165,885,663$ September 30, 2017 December 31, 2017 Valley View Consulting, L.L.C.21 City - Allocation Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 Revenue Electric 2014 Revenue Water WW Debt Service Police Restricted Seizure JPMorgan Chase Cash 12,663,029$ 12,663,029$ –$ –$ –$ –$ –$ –$ Green Bank MMA 8,039,817 8,039,817 NexBank MMA 50,064,279 12,962,926 TexPool 15,231,860 15,231,860 TexSTAR 42,527,954 5,314,906 401,937 174,887 588,856 3,628,360 2,711,919 - Lubbock National Bank CD 02/23/18 6,060,038 6,060,038 LegacyTexas Bank CD 03/09/18 5,045,388 5,045,388 Southside Bank CD 06/01/18 3,521,559 3,521,559 Southside Bank CD 08/01/18 5,031,556 5,031,556 Southside Bank CD 11/06/18 4,000,000 4,000,000 Southside Bank CD 11/19/18 3,079,386 3,079,386 Lubbock National Bank CD 01/03/19 3,041,436 3,041,436 R Bank CD 02/21/19 6,067,239 6,067,239 Independent Bank CD 03/01/19 1,512,123 1,512,123 Totals 165,885,663$ 91,571,262$ 401,937$ 174,887$ 588,856$ 3,628,360$ 2,711,919$ –$ Book and Market Value December 31, 2017 Valley View Consulting, L.L.C.22 City - Allocation JPMorgan Chase Cash Green Bank MMA NexBank MMA TexPool TexSTAR 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 Southside Bank CD 11/06/18 Southside Bank CD 11/19/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Independent Bank CD 03/01/19 Totals Book and Market Value December 31, 2017 (Continued) Utility Debt Service 2015 CO- Airport 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 CO- Water 2015 GO- Roads 2015A GO- Roads 2015A GO- Parks –$ –$ –$ –$ –$ –$ –$ –$ 68,452 29,960 986,915 1,435,831 13,923 4,190,257 74,278 819,765 68,452$ 29,960$ 986,915$ 1,435,831$ 13,923$ 4,190,257$ 74,278$ 819,765$ Valley View Consulting, L.L.C.23 City - Allocation JPMorgan Chase Cash Green Bank MMA NexBank MMA TexPool TexSTAR 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 Southside Bank CD 11/06/18 Southside Bank CD 11/19/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Independent Bank CD 03/01/19 Totals Book and Market Value December 31, 2017 (Continued) 2015 Revenue Electric 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO Bonds 2016 GO- Parks 2016 GO- Roads 2016 Revenue Electric –$ –$ –$ –$ –$ –$ –$ –$ 4,065,519 4,108,952 4,179 1,063,458 1,024,920 - –$ 4,108,952$ 4,179$ 1,063,458$ –$ –$ 5,090,439$ –$ Valley View Consulting, L.L.C.24 City - Allocation JPMorgan Chase Cash Green Bank MMA NexBank MMA TexPool TexSTAR 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 Southside Bank CD 11/06/18 Southside Bank CD 11/19/18 Lubbock National Bank CD 01/03/19 R Bank CD 02/21/19 Independent Bank CD 03/01/19 Totals Book and Market Value December 31, 2017 (Continued) 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 GO- Parks 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW –$ –$ –$ –$ –$ –$ –$ 2,032,771 5,540,032 4,011,110 1,591,485 1,981,187 17,879,248 4,918,098 5,057,701 2,770,795 365,725 352,260 238,438 2,183,183 6,950,869$ 5,057,701$ 8,310,827$ 4,376,835$ 1,943,745$ 2,219,625$ 20,062,430$ Valley View Consulting, L.L.C.25 City - Allocation Investment Total Consolidated 2013 GO- Parks/Public Safety 2014 CO- Downtown Parks 2014 Revenue Electric 2014 Revenue Water WW Debt Service Police Restricted Seizure JPMorgan Chase Cash 13,874,086$ 13,874,086$ –$ –$ –$ –$ –$ –$ Green Bank MMA 6,484,301 6,484,301 NexBank MMA 39,391,427 929,681 TexPool 5,921,168 5,921,168 TexSTAR 55,740,226 16,926,814 400,826 187,517 587,229 3,737,341 2,950,635 1,402 Lubbock National Bank CD 10/02/17 2,026,908 Green Bank CD 11/03/17 1,530,323 1,530,323 Southside Bank CD 11/17/17 3,072,339 3,072,339 Lubbock National Bank CD 02/23/18 6,041,944 6,041,944 LegacyTexas Bank CD 03/09/18 5,030,323 5,030,323 Southside Bank CD 06/01/18 3,510,763 3,510,763 Southside Bank CD 08/01/18 5,015,753 5,015,753 Lubbock National Bank CD 01/03/19 3,030,090 3,030,090 R Bank CD 02/21/19 6,044,496 6,044,496 Independent Bank CD 03/01/19 1,506,049 1,506,049 Totals 158,220,196$ 78,918,130$ 400,826$ 187,517$ 587,229$ 3,737,341$ 2,950,635$ 1,402$ September 30, 2017 Book and Market Value Valley View Consulting, L.L.C.26 City - Allocation JPMorgan Chase Cash Green Bank MMA NexBank MMA TexPool TexSTAR 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 September 30, 2017 Book and Market Value (Continued) Utility Debt Service 2015 CO- Airport 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 CO- Water 2015 GO- Roads 2015A GO- Roads 2015A GO- Parks –$ –$ –$ –$ –$ –$ –$ –$ 68,263 29,877 984,188 1,431,863 13,884 4,184,603 74,073 946,835 68,263$ 29,877$ 984,188$ 1,431,863$ 13,884$ 4,184,603$ 74,073$ 946,835$ Valley View Consulting, L.L.C.27 City - Allocation JPMorgan Chase Cash Green Bank MMA NexBank MMA TexPool TexSTAR 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 September 30, 2017 Book and Market Value (Continued) 2015 Revenue Electric 2015 Revenue Water WW 2016 CO- Rivery TIRZ 2016 CO- Streets/ Facilities/ Equip 2016 GO Bonds 2016 GO- Parks 2016 GO- Roads 2016 Revenue Electric –$ –$ –$ –$ –$ –$ –$ –$ 4,051,000 957 4,375,333 4,167 1,073,477 786 331,241 1,236 2,026,908 957$ 4,375,333$ 4,167$ 1,073,477$ 2,026,908$ 786$ 4,382,241$ 1,236$ Valley View Consulting, L.L.C.28 City - Allocation JPMorgan Chase Cash Green Bank MMA NexBank MMA TexPool TexSTAR 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 September 30, 2017 Book and Market Value (Continued) 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 GO- Parks 2017 GO- Sidewalks 2017 Revenue Electric 2017 Revenue Water WW –$ –$ –$ –$ –$ –$ –$ 2,025,509 5,520,248 5,495,155 1,584,661 1,969,786 17,815,387 5,272,717 5,043,726 3,267,803 500,541 507,931 559,762 2,275,199 7,298,226$ 5,043,726$ 8,788,051$ 5,995,697$ 2,092,592$ 2,529,548$ 20,090,586$ Valley View Consulting, L.L.C.29 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Ave. Yield Book Value Market Value Pools/MMAs 14,966,954$ 14,966,954$ 1.35%15,965,405$ 15,965,405$ CDs/Securities 3,075,647 3,075,647 1.59% 3,087,998 3,087,998 Totals 18,042,602$ 18,042,602$ 19,053,403$ 19,053,403$ Quarter End Average Yield (1)Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.39%Total Portfolio 1.39% Rolling Three Mo. Treas. Yield 1.23%Rolling Three Mo. Treas. Yield 1.23% Rolling Six Mo. Treas. Yield 1.26%Rolling Six Mo. Treas. Yield 1.26% Quarterly TexPool Yield 1.18% Interest data provided in separate report. September 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. December 31, 2017 Valley View Consulting, L.L.C. 32 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 1.18% 01/01/18 12/31/17 4,159,155$ 4,159,155$ 1.00 4,159,155$ 1 1.18% TexSTAR AAAm 1.18% 01/01/18 12/31/17 3,830,963 3,830,963 1.00 3,830,963 1 1.18% NexBank MMA 1.62% 01/01/18 12/31/17 5,417,126 5,417,126 1.00 5,417,126 1 1.62% Green Bank MMA 1.32% 01/01/18 12/31/17 2,558,162 2,558,162 1.00 2,558,162 1 1.32% R Bank CD 1.59% 09/22/19 08/22/17 3,087,998 3,087,998 100.00 3,087,998 630 1.59% 19,053,403$ 19,053,403$ 19,053,403$ 103 1.39% (1) (2) December 31, 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.34 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 1.18% 01/01/18 3,034,928$ 3,034,928$ 1,124,227$ –$ 4,159,155$ 4,159,155$ TexSTAR 1.18% 01/01/18 3,985,441 3,985,441 (154,478) 3,830,963 3,830,963 NexBank MMA 1.62% 01/01/18 5,397,098 5,397,098 20,027 5,417,126 5,417,126 Green Bank MMA 1.32% 01/01/18 2,549,487 2,549,487 8,675 2,558,162 2,558,162 R Bank CD 1.59% 09/22/19 3,075,647 3,075,647 12,351 3,087,998 3,087,998 TOTAL 18,042,602$ 18,042,602$ 1,165,280$ (154,478)$ 19,053,403$ 19,053,403$ 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 1.18% 01/01/18 3,034,928$ 3,034,928$ 1,124,227$ 4,159,155$ 4,159,155$ TexSTAR 1.18% 01/01/18 3,985,441 3,985,441 (154,478) 3,830,963 3,830,963 NexBank MMA 1.62% 01/01/18 5,397,098 5,397,098 20,027 5,417,126 5,417,126 Green Bank MMA 1.32% 01/01/18 2,549,487 2,549,487 8,675 2,558,162 2,558,162 R Bank CD 1.59% 09/22/19 3,075,647 3,075,647 12,351 3,087,998 3,087,998 TOTAL 18,042,602$ 18,042,602$ 1,010,802$ 19,053,403$ 19,053,403$ September 30, 2017 December 31, 2017 September 30, 2017 December 31, 2017 Valley View Consulting, L.L.C.36 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Ave. Yield Book Value Market Value MMA 2,020,468$ 2,020,468$ 1.32%2,027,345$ 2,027,345$ Pools 4,060,879 4,060,879 1.19%4,130,073 4,130,073 6,081,347$ 6,081,347$ 6,157,417$ 6,157,417$ Quarter End Average Yield (1)Fiscal Year-to-Date Average Yield (2) Total Portfolio 1.23%Total Portfolio 1.23% Rolling Three Mo. Treas. Yield 1.23%Rolling Three Mo. Treas. Yield 1.23% Rolling Six Mo. Treas. Yield 1.26%Rolling Six Mo. Treas. Yield 1.26% Quarterly TexPool Yield 1.18% Interest income provided in separate report. September 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. December 31, 2017 Valley View Consulting, L.L.C. 38 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 1.32% 01/01/18 12/31/17 2,027,345$ 2,027,345$ 1.00 2,027,345$ 1 1.32% TexasDAILY AAAm 1.21% 01/01/18 12/31/17 2,029,538 2,029,538 1.00 2,029,538 1 1.21% TexSTAR AAAm 1.18% 01/01/18 12/31/17 2,100,535 2,100,535 1.00 2,100,535 1 1.18% 6,157,417$ 6,157,417$ 6,157,417$ 1 1.23% (1) (2) December 31, 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.40 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 1.32% 01/01/18 2,020,468$ 2,020,468$ 6,877$ –$ 2,027,345$ 2,027,345$ TexasDAILY 1.21% 01/01/18 2,023,832 2,023,832 5,706 2,029,538 2,029,538 TexSTAR 1.18% 01/01/18 2,037,048 2,037,048 63,487 2,100,535 2,100,535 TOTAL 6,081,347$ 6,081,347$ 76,070$ –$6,157,417$ 6,157,417$ Market Value Comparison Qtr to Qtr Change Green Bank MMA 1.32% 01/01/18 2,020,468$ 2,020,468$ 6,877$ 2,027,345$ 2,027,345$ TexasDAILY 1.21% 01/01/18 2,023,832 2,023,832 5,706 2,029,538 2,029,538 TexSTAR 1.18% 01/01/18 2,037,048 2,037,048 63,487 2,100,535 2,100,535 TOTAL 6,081,347$ 6,081,347$ 76,070$ 6,157,417$ 6,157,417$ September 30, 2017 December 31, 2017 September 30, 2017 December 31, 2017 Valley View Consulting, L.L.C.42 Grant Description Grantor Grant Amount Match Status Fire GLO Block Grant General Land Office 850,000.00$ -$ Removed from Agenda Parks Recreation Trails Texas Parks and Wildlife Department (TPWD)200,000.00$ 40,000.00$ Under TPWD Review Public Works CAPCOG Regional Solid Waste Management Grant 8,110.00$ -$ Removed from Agenda GUS - Electric Battery Storage Project Department of Energy (DOE)200,000.00$ 50,000.00$ Under DOE Review Bloomberg Philanthropies 2017 Mayors Challenge 100,000.00$ -$ Under DOE Review 1,358,110.00$ 90,000.00$ CITY OF GEORGETOWN GRANT APPLICATIONS as of December 31, 2017 43 Capital Improvement Projects For the Quarter Ended December 31, 2017 2017/18 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance General Government CIP Public Safety & Facilities 6CJ GMC Remodel 100,000$ ‐$ ‐$ 100,000$ 6CR Public Safety Facility ‐ 13,705 15,238 (28,943) [a] 6DP Fire Station 6 ESD 300,000 ‐ ‐ 300,000 6DA Fire Station 7 2,000,000 13,951 9,700 1,976,349 7AA EOC Siren System ‐ ‐ 18,119 (18,119) [a] 6EW Transfer Station / Landfill ‐ 14,877 (14,877) ‐ 6FA ERP Project 2,950,000 24,978 ‐ 2,925,022 229 Animal Svcs Land & Facility 100,000 ‐ ‐ 100,000 230 Radio Replacement 500,000 ‐ ‐ 500,000 Public Safety & Facilities Subtotal 5,950,000 67,511 28,179 5,854,310 Parks CIP 1DX SH29 To Leander Rd SW ‐ 99,672 (99,570) (102) [a] 6CP San Gabriel Park Improvements 3,500,000 312,355 (312,354) 3,500,000 6DO Garey Park ‐ 1,962,862 (1,414,329) (548,533) [a] 6ED Grace Heritage Rehab ‐ 304,004 (301,231) (2,773) [a] 6ES ADA Facilities 150,000 2,637 ‐ 147,363 6ET ADA Parks 150,000 36,076 (36,076) 150,000 6EI Founder's Park ‐ 13,303 7,906 (21,209) [a] 219 Radio Replacement Parks ‐ ‐ ‐ ‐ 220 Library Canopy 77,500 ‐ ‐ 77,500 6EZ Aquatics Study ‐ 25,058 (25,058) ‐ 221 Katy Crossing Trail 500,000 ‐ ‐ 500,000 Parks CIP Subtotal 4,377,500 2,755,966 (2,180,712) 3,802,245 Downtown & Community Service 6EG Municipal Court / CVB Redesign 190,000 ‐ ‐ 190,000 6EM Downtown West 12,883,883 3,238 10,850,402 2,030,243 6EY Downtown Electrical Projects ‐ ‐ ‐ ‐ 9BE Preventative Maintenance ‐ 7,326 (7,326) ‐ 6EN Downtown West Signage 125,000 ‐ ‐ 125,000 6ER Downtown Parking Expansion 250,000 ‐ ‐ 250,000 Downtown & Community Service Subtotal 13,448,883 10,564 10,843,076 2,595,243 Total General Government CIP 23,776,383$ 2,834,041$ 8,690,543$ 12,251,798$ NOTES: [a] Individual projects may go over budget as long as total expenditures for all CIP projects are within the department's total budget. 44 Capital Improvement Projects For the Quarter Ended December 31, 2017 2017/18 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance Transportation Services CIP Streets / Transportation 1BU Streets Rehabilitation 7,186$ 7,424$ (239)$ 1$ 1BZ 971 @ Austin Ave.3,900,000 ‐ ‐ 3,900,000 1CA SW Bypass Leander to I35 ‐ 8,656 (8,656) ‐ 1CC FM 1460 1,950,000 ‐ ‐ 1,950,000 1CE Street Maintenance 3,858,676 8,600 (8,389) 3,858,465 1CF Street Overlay/Microsurfacing ‐ ‐ (1,046,288) 1,046,288 1CJ Austin Avenue Sidewalks ‐ 2,450 (2,380) (70) [a] 1CP Street Rehab 615,814 12,500 506,952 96,362 1CS DB Wood Bridge ‐ 528 (528) ‐ 1CU Cutler Process ‐ 368,659 (368,611) (48) [a] 1DI SW Bypass / WR Parkway ‐ 1,955,675 (1,955,675) ‐ 1DL Austin Avenue Bridge ‐ 16,331 (16,331) ‐ 1EB City Wide Sidewalks 253,000 339,203 (287,974) 201,771 1EF Old Town North East ‐ 3,698 (3,698) ‐ 1EG Shell Road Turn Lane Improvement ‐ 12,250 24,720 (36,970) [a] 1EH Northwest Blvd Bridge 10,500,000 ‐ ‐ 10,500,000 1EI Leander Rd ‐ River Ridge SW 1,550,000 ‐ ‐ 1,550,000 1EJ Rock St ‐ 6th to 9th Street 23,000 ‐ ‐ 23,000 1EK Rivery extension 4,500,000 ‐ ‐ 4,500,000 5AL Curb & Gutter ‐ 106,058 (106,058) ‐ 6DB McMaster Park ‐ 690 ‐ (690) [a] Streets / Transportation Subtotal 27,157,676 2,842,722 (3,273,154) 27,588,108 Stormwater 1EC 2017 Drainage Improvements 450,000 24,996 (24,916) 449,920 5AL Curb and Gutter 500,000 20,786 (16,273) 495,487 5AW Regional Flood Study ‐ 92,017 (90,690) (1,327) [a] 209 18th and Hutto Drainage ‐ ‐ ‐ ‐ 5AY Village PID Inlet ‐ ‐ ‐ ‐ Stormwater Subtotal 950,000 137,799 (131,879) 944,080 Airport 6VA Airport Master Plan ‐ 144 ‐ (144) [a] Airport Subtotal ‐ 144 ‐ (144) Total Transportation Services CIP 28,107,676$ 2,980,665$ (3,405,033)$ 28,532,044$ 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 December 31, 2017 2017/18 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance Water Services CIP Wastewater Line Upgrades: 2BB Wastewater Master Plan Update ‐$ 89,071$ 238,974$ (328,045)$ [a] 3CJ Berry Creek Interceptor 1,000,000 100,957 1,450,218 (551,175) [a] 208 San Gabriel Inter SGI ‐2 2,500,000 ‐ ‐ 2,500,000 3CO Wolf Lakes Offsite WW ‐ 12,164 (12,164) ‐ Wastewater Line Upgrades Subtotal 3,500,000 202,192 1,677,028 1,620,780 WW Edwards Aquifer Compliance: 3CL EARZ 2015‐2016 ‐ 6,084 (6,084) ‐ 3CM EARZ 2016‐17 1,000,000 152,589 257,286 590,125 WW Edwards Aquifer Compliance Subtotal 1,000,000 158,673 251,202 590,125 WW Lift stations & Force Mains 3CC Lift Station Upgrades ‐ ‐ ‐ ‐ 3CD Stonehedge LS & FM ‐ 1,971 (1,971) ‐ 3CE Westinghouse LS & FM ‐ 448,875 (419,136) (29,739) [a] 3CN Park LS & FM ‐ 42,380 (42,380) ‐ 207 San Gabriel Belt Press ‐ ‐ ‐ ‐ WW Lift stations & Force Mains Subtotal ‐ 493,226 (463,487) (29,739) WW Treatment Plant 3CA Pecan Branch WWTP ‐ 1,057,392 (1,057,336) (56) [a] WW Treatment Plant Subtotal ‐ 1,057,392 (1,057,336) (56) Water CIP 2BZ West Loop (H‐1B) Ph. 1 ‐ 71,225 (71,225) ‐ 2CE Rabbit Hill EST ‐ 6,385 (6,385) ‐ 2CH Cedar Breaks EST ‐ 120,315 (110,982) (9,333) [a] 2CI Shell Road Water Line ‐ 3,215 (3,215) ‐ 2CO Majestic Oaks Water Line ‐ 26,544 (26,544) ‐ 2CP Sun City 1.5MG Est ‐ ‐ 3,224,000 (3,224,000) [a] 2CQ Water Tank Rehab 480,000 ‐ 417,000 63,000 2CU LWTP Raw Water Intake Rehab ‐ 10,716 (10,716) ‐ 2CW LWTP Chemicals ‐ ‐ 89,823 (89,823) [a] 2CX Water Tank Rehab FY18 ‐ ‐ 49,727 (49,727) [a] 51I CIS System ‐ 47,938 (47,938) ‐ 2JE CR 255 WD 14‐2 ‐ 15,000 315,831 (330,831) [a] 2JF Domel Improvements ‐ 249,979 (185,267) (64,711) [a] 2JG Braun EST 4,750,000 ‐ 379,083 4,370,917 2BN Southlake WTP 1,000,000 42,279 (42,279) 1,000,000 201 Water ‐ Street Rehabilitation ‐ ‐ ‐ ‐ 202 Leander Interconnect ‐ ‐ ‐ ‐ 203 West Loop (H‐1A)‐ ‐ ‐ ‐ 205 Sequoia Ground Storage Tank ‐ ‐ ‐ ‐ 207 Misc. Line upgrades 250,000 ‐ ‐ 250,000 208 Park WTP clearwell 170,000 ‐ ‐ 170,000 209 SW Bypass Water H24‐1 500,000 ‐ ‐ 500,000 210 Water Mains ‐ ‐ ‐ ‐ Water CIP Subtotal 7,150,000 593,596 3,970,913 2,585,491 Total Water Services CIP 11,650,000$ 2,505,078$ 4,378,320$ 4,766,601$ 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 December 31, 2017 2017/18 Year to Date Year to Date Project Budget Expenditures Encumbrances Balance GTEC CIP 51A Economic Development Projects 1,643,750$ ‐$ ‐$ 1,643,750$ 5QC Southwest Bypass ‐ 203,440 ‐ (203,440) [a] 5QW Wolf Ranch Pkwy Extension ‐ ‐ ‐ ‐ 5QX Northwest Boulevard Bridge ‐ ‐ ‐ ‐ 5RI Mays Street (S. Georgetown TIRZ)‐ 248,719 (3,080) (245,639) [a] 5RJ IH 35 / Hwy 29 Intersection Improvements ‐ ‐ ‐ ‐ 5RL FM 1460 Widening ‐ ‐ 20 (20) [a] 5RM Rivery Ext (Williams Dr. ‐ Nwest Blvd.)‐ 25,843 (3,448) (22,395) [a] 5RN Pecan Center Dr. / Airport Rd.‐ 199,073 (3,500) (195,573) [a] 5RP Rivery TIA Improvements ‐ 9,859 (8,987) (872) [a] 5RQ Rabbit Hill Road Improvements ‐ 2,230 (2,230) ‐ 5RS Tamiro Improvements 410,000 ‐ ‐ 410,000 1CI Williams Dr. Widening ‐ 177 ‐ (177) [a] 1CC FM 1460 Roadway Improvement ‐ 1,577 (1,476) (102) [a] 1DZ SW Bypass / Crush Stone ‐ 1,298 ‐ (1,298) [a] Total GTEC CIP 2,053,750$ 692,217$ (22,700)$ 1,384,234$ 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 December 31, 2017 2017/18 Year to Date Year to Date Budget Expenditures Encumbrances Balance Electric CIP 9‐0580‐90‐047 Austin Ave Sidewalks 100,000 ‐ ‐ 100,000 9‐0580‐90‐139 17th Street Rehab 50,000 ‐ ‐ 50,000 9‐0580‐90‐140 7th Street Rehab 200,000 ‐ ‐ 200,000 9‐0580‐90‐141 Downtown OH Rehab 700,000 ‐ ‐ 700,000 9‐0580‐90‐142 Downtown West 950,000 15,013 127,487 807,500 9‐0580‐90‐143 Shell Road Feeders 450,000 ‐ ‐ 450,000 9‐0580‐90‐144 Pole Relocation 50,000 49 ‐ 49,951 9‐0580‐90‐146 Southwest Bypass Feeder 800,000 3,597 116,403 680,000 9‐0580‐90‐147 West 10th Street Rehab 98,000 ‐ ‐ 98,000 9‐0580‐90‐148 West 11th Street Rehab 200,000 ‐ ‐ 200,000 9‐0580‐90‐255 Downtown urd conversion 200,000 ‐ ‐ 200,000 9‐0580‐90‐256 Geo. East T2 voltage change 50,000 9,636 4,392 35,972 9‐0580‐90‐257 Kathi Ln Urd Convesion 100,000 117,353 ‐ (17,353) [a] 9‐0580‐90‐260 DB Wood (SH29 Intersection)150,000 2,354 20,146 127,500 9‐0580‐90‐261 FM 971 relocation 200,000 ‐ ‐ 200,000 9‐0580‐90‐262 Inner Loop Widening 200,000 ‐ ‐ 200,000 9‐0580‐90‐263 Leander Rd (IH35 intersection)10,000 ‐ ‐ 10,000 9‐0580‐90‐264 Northwest Blvd Widening 100,000 753 14,247 85,000 9‐0580‐90‐265 Rabbit Hill Road Widening 500,000 2,158 72,842 425,000 9‐0580‐90‐266 Rivery Extension 200,000 17,191 12,809 170,000 9‐0580‐90‐267 University (Mays widening)154,000 ‐ ‐ 154,000 9‐0580‐90‐268 Williams Dr. (IH35 Intersection)10,000 ‐ ‐ 10,000 9‐0580‐90‐300 Electrical System Improvement ‐ 2,474 (350) (2,124) [a] 9‐0580‐90‐310 Power Quality Improvements 80,000 109 ‐ 79,891 9‐0580‐90‐320 Sectionalization Improvements 200,000 ‐ ‐ 200,000 9‐0580‐90‐331 Pole Inspections 100,000 ‐ ‐ 100,000 9‐0580‐90‐410 New Development Projects 3,000,000 378,003 1,489,063 1,132,933 9‐0580‐90‐430 Street Lighting 88,000 5,835 15,162 67,004 9‐0580‐90‐500 Consultant Engineering 150,000 24,760 125,240 ‐ 9‐0580‐90‐701 Fiber Optic 245,000 7,603 145,767 91,630 9‐0580‐90‐702 Fiber to Signal lights 50,000 1,153 49,066 (219) [a] Electric CIP Subtotal 9,385,000 588,040 2,192,275 6,604,685 T&D 9‐0585‐90‐021 Communication Equipment ‐ 434 ‐ (434) [a] T&D Subtotal ‐ 434 ‐ (434) CIS 9‐0580‐91‐105 CIS system ‐ 53,495 (53,495) ‐ CIS Subtotal ‐ 53,495 (53,495) ‐ Total Electric CIP 9,385,000 641,969 2,138,780 6,604,251 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 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 9/30/17 Status Updates - 12/31/17 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. Columbarium design is scheduled to be completed in December. Mowing and maintenance costs compared to perpetual reserve still needs to be discussed. The columbarium project bid will open on January 25th. Construction is expected to begin in the Spring and will last approximately 60 days. 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 12/30/16, the UAAL was $22M and is considered 83% funded. The 2018 TMRS total combined contribution rate is 12.54.No change, updated once annually. 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. GASB requires updates every other year. 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 15% liability target was fully funded in FY 2018 budget. In FY 2017, these funds were used for two long-tenured payouts in Police and Fire. No change. GASB requires updates every other year. 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 budgeted to be $5.5M in FY2018. The rate study is funded in the budget. Year-end purchased power and CIP costs will exceed projections and require a year-end amendment. Finance and utility staff are partnering on short and long-term solutions to rebuild the rate stabilization fund. Currently the Executive Team is evaluating the FY2018 Capital Improvement Plan, debt issuance program, and other strategies to improve the cash position of the fund. 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. The parallel taxiway and fuel storage facility are on schedule. The current Airport Master Plan effort is ongoing. The Wildlife Hazard Assessment has begun and will take approximately one year to complete. The parallel taxiway and fuel storage facility are almost complete. Contractor working on punch list items. The current Airport Master Plan effort has produced a draft Final Plan awaiting consideration by City, TxDOT and the FAA. The Wildlife Hazard Assessment has begun and should be completed late 2018. CITY OF GEORGETOWN Long-term Commitments, Reservations, and Other Unfunded Liabilities December 31, 2017 49 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 9/30/17 Status Updates - 12/31/17 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. In the fourth quarter, the City continued improvements throughout the city, including curb ramps, crosswalks, pedestrian- actuated signal infrastructure (“ped heads”), and sidewalk extensions/reconstructions. While some of the work has been completed, the project still has not received Texas Department of Licensing and Regulation (TDLR) compliance inspection and reporting by a registered accessibility specialist. This will occur at the end of all construction activities. The City finalized 2016/17 CIP improvements throughout the city, including curb ramps, crosswalks, pedestrian-actuated signal infrastructure (“ped heads”), and sidewalk extensions/reconstructions. The project still has not been closed out, however, the Texas Department of Licensing and Regulation (TDLR) compliance inspection and reporting by a registered accessibility specialist has occurred. 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, but there has been some debt funding as well. The summer projects are wrapping up. All work along Williams drive is complete, with revegetation underway. 8th and Rock work waiting on grates to be complete. Crews have moved to Founders Park, the final area for this project. Construction and railing is complete on the IH 35 Sidewalk; final revegetation outstanding. Ribbon cutting to be scheduled for November. The current projects are Scenic CDBG and Old Town NE sidewalks. The Scenic CDBG was presented to and approved by GTAB and Council. Patin Construction was awarded the contract. The notice to proceed was issued for 2/1/18. The Old Town NE sidewalk project has begun. The surveying has been completed and it is roughly 25% drawn. The project is estimated to go out for bid in 5-8 months. There are 2017 GO bond proceeds to cover the cost of this project. 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. Planning for Meadow’s Park renovations are scheduled for this winter. Renovation to the park includes replacement of play equipment as well as accessibility improvements. Construction is scheduled to begin early 2018. Pavilion renovations and playground replacement are scheduled to be completed this spring at Meadow’s Park. Additional sidewalk work will be completed to meet ADA compliance as well. The pool filters at Williams Drive Pool will be replaced in April. 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. As of September 30, year-end revenue is estimated to be $2.52 million, including the accrual of August and September incidents. This is $0.32 million above the budget amount $2.2 million. Year- end expenditures are expected to be $2.17 million, $0.1 million over budget. Staff anticipate bringing forward a revenue neutral budget amendment. Finance and Fire staff continue to study trends in calls for service, overtime, and revenue, and are working on projections for the appropriate timing to add an additional peak demand unit into service. Fiscal Year 2017 ending fund balance is $(637,773), a decrease from 2016 ending fund balance of $(909,490). An increase in revenue collection has dramatically increased the EMS funds overall position, however, staff estimates it will take several years to bring the fund back into balance after the start-up capital expenditures. The new peak unit was approved in a December Budget Amendment, adding staffing and ambulance costs to the fund. 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. The FY 18 budget includes $2,700,000 for acquisition of the new Enterprise Resource Planning system(s). The final price has not been agreed upon in the bid process. 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. No changes from prior quarter. Staff are working on FY 2019 costs and allocations. 50 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 9/30/17 Status Updates - 12/31/17 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. The 2017 radios are received and being programmed and deployed. The Emergency Management Coordinator is working on the procurement of phase II in FY2018. Phase III will be included in preparations for the FY2019 budget. No changes from prior quarter. 51