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Home My WebLink AboutFY 18 - Q3 Report_RedactedFINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended June 30, 2018 Table of Contents Executive Summary .................................................................................................................................... 1-4 General Fund Schedule ................................................................................................................................. 5 Electric Fund Schedule .................................................................................................................................. 6 Water Services Fund Schedule ...................................................................................................................... 7 Joint Services Fund Schedule ......................................................................................................................... 8 Council Discretionary Fund Schedule ............................................................................................................ 9 Convention & Visitors Bureau Fund Schedule ............................................................................................. 10 Paramedic Fund Schedule ........................................................................................................................... 11 Airport Fund Schedule ................................................................................................................................. 12 Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 13 Georgetown Economic Development Corporation Fund Schedule ............................................................. 14 Quarterly Investment Report - City ........................................................................................................ 15-29 Quarterly Investment Report - GTEC ...................................................................................................... 30-35 Quarterly Investment Report - GEDCO ................................................................................................... 36-41 Grant Applications ....................................................................................................................................... 42 Capital Improvement Projects ................................................................................................................ 43-45 Long-term Commitments and Other Unfunded Liabilities ..................................................................... 46-48 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 12,233,596 12,405,718 Revenue Administrative Charges 2,087,555 172,287 1,558,958 2,087,555 All Other Revenue 4,056,192 943,397 3,420,916 4,187,026 Development and Permit Fees 2,553,500 311,701 1,967,116 3,102,150 Franchise Fees 5,203,863 303,922 3,794,947 5,300,544 Garey Park 225,000 15,732 16,232 225,000 Parks and Rec Fees 2,339,220 355,801 1,710,762 2,437,500 Property Tax 13,674,500 99,954 12,223,146 13,400,000 ROI 8,417,635 804,739 5,678,880 8,473,681 Sales Tax 14,026,000 1,181,988 8,308,355 14,743,750 Sanitation Revenue 8,974,500 738,963 6,520,958 8,873,500 Transfer In 472,200 68,750 253,450 472,200 Revenue Total 62,030,165 4,997,234 45,453,721 63,302,906 Expense Administrative Services 1,560,089 161,814 1,177,597 1,557,444 Animal Services 875,831 88,249 654,604 828,681 Arts & Culture 80,900 2,200 23,465 80,931 City Council 175,087 12,527 136,191 173,230 City Secretary 916,463 62,934 490,913 727,349 Code Enforcement 415,749 36,122 278,189 390,366 Communications 400,137 43,253 294,484 389,324 Environmental Services 7,623,412 649,469 5,132,192 7,715,241 Fire Emergency Services 10,789,592 1,115,797 8,025,130 10,956,430 Fire Support Services 2,648,858 269,935 2,060,914 2,680,268 Garey Park 621,557 83,853 232,131 517,820 General Gov't Contracts 3,253,786 278,820 3,145,346 3,742,660 Inspections 1,231,441 128,137 869,157 1,160,914 Library 2,554,935 277,237 1,994,695 2,525,656 Municipal Court 632,929 62,024 462,146 614,394 Parks 2,578,108 253,879 1,947,433 2,580,317 Parks Admin 607,229 64,666 462,586 609,666 Planning 1,709,954 158,460 1,186,495 1,534,488 Police Admin 2,234,502 203,563 1,709,384 2,220,396 Police Operations 11,511,871 1,420,798 9,392,007 12,043,704 Public Works 1,241,845 52,167 877,605 1,138,228 Rec Programs 1,338,038 170,282 697,317 1,318,687 Recreation 2,527,496 296,385 1,890,826 2,491,467 Streets 4,657,416 333,701 2,539,833 4,535,851 Tennis Center 435,014 41,409 278,577 427,705 Transfer Out 1,739,523 3,739 1,728,304 1,928,103 Expense Total 64,361,761 6,271,421 47,687,521 64,889,320 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (2,331,596) (1,274,187) (2,233,801) (1,586,414) AVAILABLE FUND BALANCE 9,902,000 10,819,304 Year-End Projection to Approved: Jun FY2018 General Fund 5 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR‐END PROJECTION BEGINNING FUND BALANCE 12,824,257 6,758,275 Operating Revenue Electric Revenue 67,595,139 7,103,307 47,797,527 69,416,907 Interest 48,318 11,225 45,093 47,632 Other Revenue 4,469,955 876,683 3,713,457 5,017,865 Operating Revenue Total 72,113,412 7,991,215 51,556,076 74,482,405 Operating Expenditures CRR Credits (2,000,000) (287,875) (6,101,990) (7,000,000) Georgetown Utility Systems 17,915,971 1,345,801 13,455,616 18,433,826 Purchased Power 44,000,000 6,519,847 43,436,398 52,000,000 Transfer Out‐Interfund Transfers 92,600 ‐ 92,600 92,600 Transfer Out‐ROI 5,493,707 479,754 3,636,758 5,235,000 Operating Expenditures Total 65,502,278 8,057,527 54,519,382 68,761,426 Total Net Operations 6,611,134 (66,312) (2,963,306) 5,720,979 Non‐Operating Revenue Bond Proceeds 6,537,000 ‐ 6,727,776 6,537,000 Transfers in 90,981 ‐ 90,981 540,981 Non‐Operating Revenue Total 6,627,981 ‐ 6,818,757 7,077,981 Non‐Operating Expenditures CIP 9,880,487 548,866 3,835,459 6,508,565 Interest Expense 1,697,769 ‐ 665,850 1,259,116 Debt Issuance Cost 15,000 ‐ 190,776 15,000 Debt Service 2,539,258 ‐ 1,547 2,959,731 Non‐Operating Expenditures Total 14,132,514 548,866 4,693,631 10,742,412 Total Net Non‐Operations (7,504,533) (548,866) 2,125,125 (3,664,431) EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (893,399) (615,178) (838,181) 2,056,548 ENDING FUND BALANCE 11,930,858 8,814,823 Contingency 5,125,000 5,125,000 Rate Stabilization 5,500,000 ‐ AVAILABLE FUND BALANCE 1,305,858 3,689,823 Year‐End Projection to Approved: Jun FY2018 Electric Fund 6 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR‐END PROJECTION BEGINNING FUND BALANCE 67,881,131 74,958,153 Operating Revenue Capital Recovery Fee 6,672,500 2,520,510 12,400,492 12,416,521 Interest 192,385 131,794 915,880 794,596 Irrigation Utility Revenue 225,000 51,259 207,050 214,891 Other Revenue 2,176,250 392,593 3,860,160 3,851,044 Raw Water Revenue 178,500 13,171 92,618 141,089 Transfer In, Debt 116,613 ‐ ‐ 116,613 Wastewater Utility Revenue 10,850,000 940,528 8,192,589 11,007,305 Water Utility Revenue 27,748,195 3,164,153 20,203,229 28,756,997 Operating Revenue Total 48,159,443 7,214,008 45,872,018 57,299,056 Operating Expenditures Irrigation 204,300 13,707 92,607 205,000 Transfer Out, Fleet/Joint Service 62,000 ‐ 62,000 62,000 Transfer Out, General 425,000 68,750 206,250 425,000 Transfer Out, ROI 2,686,505 303,701 1,882,225 2,993,788 Transfer Out, Utilities 90,981 ‐ 90,981 540,981 Wastewater Distribution 613,000 28,079 477,121 592,810 Wastewater Plant Management 2,437,025 184,377 1,901,718 2,412,396 Water Administration 18,602,018 1,864,315 14,015,733 18,313,695 Water Distribution 2,723,300 221,571 1,608,278 2,194,442 Water Operations 3,769,545 430,012 2,952,275 3,682,263 Water Plant Management 2,548,726 206,343 1,720,612 2,319,630 Operating Expenditures Total 34,162,400 3,320,855 25,009,801 33,742,005 Total Net Operations 13,997,043 3,893,153 20,862,217 23,557,051 Non‐Operating Revenue Bond Proceeds ‐ ‐ ‐ ‐ Non‐Operating Revenue Total ‐ ‐ ‐ ‐ Non‐Operating Expenditures CIP 90 65,085,236 1,149,695 9,819,726 65,495,658 CIP 91 5,178 ‐ ‐ 5,178 Debt Service 5,344,535 ‐ 1,415,884 5,344,535 Non‐Operating Expenditures Total 70,434,949 1,149,695 11,235,610 70,845,371 Total Net Non‐Operations (70,434,949) (1,149,695) (11,235,610) (70,845,371) EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (56,437,906) 2,743,458 9,626,608 (47,288,319) ENDING FUND BALANCE 11,443,225 27,669,833 Contingency 6,000,000 6,000,000 AVAILABLE FUND BALANCE 5,443,225 21,669,833 Year‐End Projection to Approved: Jun FY2018 Water Fund 7 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 302,565 711,548 Revenue Gedco Admin/Contract Fee 221,328 18,444 165,996 221,328 Gtec Admin/Contract Fee 166,882 13,907 125,163 166,882 Interest 10,000 2,567 14,497 15,000 Other 26,774 53,513 322,474 257,469 Service Fees - Airport 131,785 10,982 98,838 131,785 Service Fees - Conservation 100,350 8,363 75,267 - Service Fees - Electric 4,233,598 352,800 3,175,200 4,233,598 Service Fees - General 3,345,567 278,797 2,509,173 3,345,567 Service Fees - Stormwater 938,969 78,247 704,223 938,969 Service Fees - Water 7,248,183 604,015 5,436,135 7,248,183 Transfer In 5,000 - - 80,000 VPID Admin/Contract Fee 8,966 747 6,723 8,966 Revenue Total 16,437,402 1,422,382 12,633,689 16,647,747 Expense Accounting 947,423 101,015 707,425 944,432 City Wide Hr 415,400 42,995 185,263 283,765 Conservation 982,774 68,962 438,992 718,059 Customer Care 4,054,593 349,392 3,071,839 4,015,638 Economic Development 596,092 53,906 427,223 576,201 Engineering 2,143,112 196,908 1,356,022 1,926,432 Engineering Support 1,069,289 94,912 706,887 1,002,015 Finance Administration 1,115,967 78,243 864,808 1,116,361 Gus Administration 1,469,912 138,820 1,047,554 1,457,786 Human Resources 949,739 103,234 674,430 905,323 In-House Legal 913,277 98,390 733,541 1,007,640 Insurance & Legal 705,000 2,216 620,384 775,000 Joint Svcs Con 569,000 61,436 642,144 985,825 Purchasing 740,589 66,373 480,855 734,602 Transfer Out 67,800 - 67,800 67,800 Expense Total 16,739,967 1,456,802 12,025,166 16,516,879 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (302,565) (34,420) 608,523 130,868 AVAILABLE FUND BALANCE 0 842,416 Year-End Projection to Approved: Jun FY2018 Joint Services Fund 8 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 300,473 285,808 Revenue Interest 2,000 1,744 10,679 9,000 Transfer In, General Fund 1,000,000 - 1,000,000 1,188,580 Revenue Total 1,002,000 1,744 1,010,679 1,197,580 Expense Transfer Out, GCP - - - 100,000 Transfer Out, General Fund - - - 75,000 Transfer Out, Joint Services - - - 75,000 Expense Total - - - 250,000 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 1,002,000 1,744 1,010,679 947,580 ENDING FUND BALANCE 1,302,473 1,233,388 Year-End Projection to Approved: Jun FY2018 Council Discretionary Fund 9 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 690,201 839,544 Revenue Hotel/Motel Occupancy Tax Revenues 1,200,000 126,809 1,008,999 1,325,000 Interest 1,500 1,515 8,171 7,000 Other 12,000 813 14,573 18,515 Poppy Festival 109,400 540 128,714 135,451 Revenue Total 1,322,900 129,676 1,160,457 1,485,966 Expense Operations 551,381 26,675 342,054 549,739 Personnel 361,237 38,502 272,213 357,176 Poppy Festival 136,200 3,715 124,039 136,200 Transfer to Facilities 49,565 4,130 37,170 49,565 Transfer to Fleet 5,090 424 3,816 5,090 Transfer to General Fund 10,200 - 10,200 10,200 Transfer to Information Technology 24,806 2,067 18,603 24,806 Expense Total 1,138,479 75,513 808,094 1,132,776 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 184,421 54,163 352,362 353,190 ENDING FUND BALANCE 874,622 1,192,734 Contingency 187,147 187,147 Reserved for Capital 687,474 687,474 AVAILABLE FUND BALANCE - 318,112 Year-End Projection to Approved: Jun FY2018 Convention & Visitors Bureau Fund 10 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE (501,205) (656,180) Revenue TASPP Revenue 128,000 - - 128,000 EMS Revenue 2,617,762 223,922 1,846,232 2,486,307 Franchise Fees 20,000 - 4,000 20,000 Transfer In 44,870 3,739 33,651 44,870 Revenue Total 2,810,632 227,661 1,883,883 2,679,177 Expense O&M 636,212 55,227 487,615 590,395 Personnel 1,788,522 249,637 1,659,013 1,788,522 Expense Total 2,424,734 304,864 2,146,628 2,378,917 EXCESS (DEFICIANCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 385,898 (77,203) (262,745) 300,260 AVAILABLE FUND BALANCE (115,307) (355,920) Year-End Projection to Approved: Jun FY2018 Paramedic Fund 11 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 436,734 436,734 Operating Revenue Fuel and Terminal Sales 2,794,919 198,514 1,871,574 2,596,789 Interest and Other 65,600 2,280 35,716 83,139 Leases and Rentals 882,484 68,432 621,754 843,996 Operating Revenue Total 3,743,003 269,226 2,529,044 3,523,924 Operating Expenditures Debt Service 125,850 - 18,142 124,268 Operations-Fuel 2,296,250 129,117 2,200,637 2,093,207 Operations-Non Fuel 667,504 34,933 463,920 634,000 Personnel 375,920 41,296 274,334 351,814 Transfers Out 53,500 - 53,500 53,500 Operating Expenditures Total 3,519,024 205,347 3,010,533 3,256,789 TOTAL NET OPERATIONS 223,979 63,879 (481,489) 267,136 Non-Operating Revenue Bond Proceeds 150,000 - 145,000 150,000 Other Revenue - 41,810 45,701 45,701 Grants 35,000 - 20,341 42,578 Non-Operating Revenue Total 185,000 41,810 211,042 238,279 Non-Operating Expenditures Airport Ramp 15,000 - - 15,000 Edge Lighting 150,000 - - 150,000 Hangar Upgrades 33,000 1,375 18,258 33,583 Pavement Upgrades 40,000 - 1,175 21,175 Runway Rehab 16,500 - - 16,500 Wildfire Management 25,500 2,700 12,900 13,500 Other Expense - - 257 200,887 Non-Operating Expenditure Total 280,000 4,075 32,589 450,644 EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 128,979 101,614 (303,037) 54,770 ENDING FUND BALANCE 565,713 491,504 RESERVES Contingency 213,158 213,158 Reserves Total 213,158 213,158 AVAILABLE FUND BALANCE 352,555 278,346 Airport Operations Fund Year End Projection to Approved as of June 2018 12 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR‐END PROJECTION BEGINNING FUND BALANCE 22,051,111 18,241,681 Operating Revenue Sales Tax 6,575,000 540,357 3,845,932 6,775,000 PID Assessments 553,201 ‐ ‐ 553,201 Interest 127,000 27,298 217,060 242,000 Operating Revenue Total 7,255,201 567,655 4,062,992 7,570,201 Operating Expenditure Administrative Support 364,814 30,276 272,484 364,114 Operating Expenditure Total 364,814 30,276 272,484 364,114 TOTAL NET OPERATIONS 6,890,387 537,379 3,790,508 7,206,087 Non‐Operating Revenue Other Grant Revenue ‐ ‐ 11,222 11,222 Non‐Operating Revenue Total ‐ ‐ 11,222 11,222 Non‐Operating Expenditure Pecan Center Dr to Airport Rd (FY15)5,390,290 276,818 2,900,709 2,500,000 Rivery TIA Improvements 1,016,790 4,995 633,908 1,016,790 FM 971 / Fontana 66,431 21,173 ‐ 66,431 Rivery‐Extension Williams Dr to NW Blvd (FY16)767,678 11,750 29,527 767,678 IH 35 / HWY29 Intersection 650,000 ‐ 43,347 650,000 NB Frontage 2338 to Lakeway ‐ 2,004 ‐ ‐ SW Bypass 2243 to IH35 333,962 ‐ 205,464 205,410 FM1460 Widening 501,260 ‐ 294 100,000 Wolf Ranch Pkwy Extension 283,350 ‐ ‐ ‐ Mays St 3,252,729 ‐ 251,036 1,000,000 Tamiro Improvements 410,000 ‐ ‐ ‐ Available for Projects TBD 1,643,750 ‐ ‐ ‐ SE Inner Loop Widening (Rock Ride ROW)‐ ‐ ‐ 900,000 Debt Service 3,330,135 ‐ 601,515 3,330,885 Non‐Operating Expenditure Total 17,646,375 316,740 4,665,800 10,537,194 TOTAL NET NON‐OPERATIONS (17,646,375) (316,740) (4,654,578) (10,525,972) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (10,755,988) 220,639 (864,070) (3,319,885) ENDING FUND BALANCE 11,295,123 14,921,796 RESERVES Contingency 1,643,750 1,643,750 Reserved Bond Proceeds 4,150,000 1,650,000 Reserves Total 5,793,750 3,293,750 AVAILABLE FUND BALANCE 5,501,373 11,628,046 Georgetown Transportation Enhancement Corporation Fund Year‐End Projection to Approved: Jun FY2018 13 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 5,902,863 6,051,152 OPERATING REVENUES Interest 25,400 10,256 68,798 68,800 Lease Revenue (Grape Creek)24,000 - 36,000 36,000 Miscellaneous Revenue 61,100 - 60,991 61,000 Sales Tax 1,643,750 135,089 961,483 1,693,750 Sale of Property - - OPERATING REVENUES Total 1,754,250 145,345 1,127,272 1,859,550 OPERATING EXPENDITURES Debt Service 212,569 - 43,784 212,569 Interest Expense 26,128 - - 26,128 Joint Services Allocation 221,328 18,444 165,996 221,328 Miscellaneous Expense 11,108 - 10,991 11,040 Principal Reduction 90,485 - - 90,485 Promotional & Marketing Program 81,000 3,000 78,301 81,000 Special Services 57,500 - 42,500 57,500 Supplies 300 - - - Travel & Training 1,500 - - 500 OPERATING EXPENDITURES Total 701,918 21,444 341,572 700,550 TOTAL NET OPERATIONS 1,052,332 123,901 785,700 1,159,000 Catalyst 36,000 - 18,839 18,839 DisperSol 60,000 - 40,000 40,000 Economic Development Projects -Undetermined 6,308,518 - - 150,000 Texas Life Sciences 139,740 - 139,740 139,740 NON-OPERATING EXPENDITURES Total 6,544,258 - 198,579 348,579 TOTAL NET NON-OPERATIONS (6,544,258) - (198,579) (348,579) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (5,491,926) 123,901 587,121 810,421 ENDING FUND BALANCE 410,938 6,861,573 RESERVES Contingency 410,938 423,438 RESERVES Total 410,938 - - 423,438 AVAILABLE FUND BALANCE - 6,438,135 Georgetown Economic Development Corporation Fund Year-End Projection to Approved: Jun FY2018 14 Department Federal Grantor Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1514GRGTN Construct Parallel Taxiway and Fuel Farm 621,143.96 - Airport N/A Texas Department of Transportation-Aviation M1814GEOR RAMP Grant - Routine Airport Maintenance Program 61,477.81 20,341.16 Airport Federal Aviation Administration Texas Department of Transportation-Aviation 16MPGRGTN Airport Master Plan Update 42,090.00 - Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1814GRGTN Runway 18/36 Rehabilitation - - Airport Federal Aviation Administration Texas Department of Transportation-Aviation 17WAGEORG Wildlife Hazard Assessment - - Fire Federal Emergency Management Agency Texas Department of Public Safety - TDEM LPDM-PJ-06-TX-2008-011 Prehazard Mitigation - Sirens 8,351.71 - Fire US Department of Homeland Security Texas Department of Public Safety - TDEM 17TX-EMPG-1421 EMPG Salaries (Berg, Shell and Gilliam) 129,991.95 - Gus - Electric N/A Bloomberg Philanthropies 2017 Mayors Challenge - 100,000.00 Library Institute of Museum & Library Services Texas State Library & Archives Commission LS-00-17-0044-17 TSL Resource Coordinator - 2nd year (Patrick Lloyd) 53,152.32 53,152.32 Planning US Department of Housing & Urban Development Williamson County 322P Georgetown CDBG 6th & Scenic Sidewalk 130,664.00 114,919.90 Police Bureau of Justice Assistance N/A KXPIIIA Bullet Proof Vests - Supply Police with new vests 11,098.48 5,549.24 Public Works Dept. of Transportation /Federal Highway Texas Department of Transportation CSJ-0914-05-187 Highway Planning & Construction (Austin Ave - - Division Grantor Status Fire Texas Department of Public Safety - TDEM Urban Search and Rescue (US&R) Council Approved MOU April 10th. Fire US Department of Homeland Security SAFER Application Submitted Gus - Electric Department of Energy (DOE)Battery Storage Project Under DOE Review Library Institute of Museum & Library Services Resource Coordinator Considering 3rd year Parks Texas Parks and Wildlife Department (TPWD)Recreation Trails Environmental Review Process Planning Williamson County (CDBG)Sidewalks and Ramps along 17th St Council Approved Feb 27th. App submitted Apr 4th. Funding approved Jun 26th. CITY OF GEORGETOWN Grant/Federal Funding Report as of June 30 2018 COG Name/Purpose Active Applications Pending Award 42 Capital Improvement Projects For the Quarter Ended June 30, 2018 CIP Quarterly Report - Q3 FY2018 Budget Year to Date (W/Encum) Remaining Balance WATER SERVICES 660-9-0580-90-049 SOUTHLAKE WTP 950,260 - 950,260 660-9-0580-90-071 TANK REHAB PROJECTS 399,958 466,727 (66,769) 660-9-0580-90-072 CEDAR BREAKS EST - 9,333 (9,333) 660-9-0580-90-097 SUN CITY ELEVATED STORAGE TANK 3,224,047 3,224,000 47 660-9-0580-90-125 SHELL ROAD WATER LINE 6,039,578 5,928 6,033,651 660-9-0580-90-146 LWTP - DEWATERING FACILITY - 89,823 (89,823) 660-9-0580-90-155 WATER - STREET REHAB 330,000 - 330,000 660-9-0580-90-158 RABBIT HILL EST - 0 (0) 660-9-0580-90-166 LEANDER INTERCONNECT 575,000 - 575,000 660-9-0580-90-167 WEST LOOP (H-1A)2,119,000 - 2,119,000 660-9-0580-90-168 LWTP RAW WATER INTAKE REHAB 440,411 784,745 (344,334) 660-9-0580-90-169 SEQUOIA GROUND STORAGE TANK 2,500,000 - 2,500,000 660-9-0580-90-170 CR 255 (WD14-2)2,980,000 330,831 2,649,169 660-9-0580-90-171 DOMEL PS IMPROVEMENTS 1,805,692 164,711 1,640,981 660-9-0580-90-175 BRAUN EST 4,750,000 379,083 4,370,917 660-9-0580-90-176 MISC. LINE UPGRADES 250,000 - 250,000 660-9-0580-90-177 PARK WTP CLEARWELL 170,000 - 170,000 660-9-0580-90-178 S. LAKE WTP 2018 1,000,000 - 1,000,000 660-9-0580-90-179 SW BYPASS WATER H24-1 500,000 - 500,000 660-9-0580-90-180 TANK REHABILITATION 480,000 - 480,000 660-9-0580-90-200 WATER MAINS 3,842,303 1,207,248 2,635,055 660-9-0580-91-105 CIS SYSTEM 5,178 - 5,178 660-9-0581-90-037 EDWARDS AQUIFER TESTING - 149,000 (149,000) 660-9-0581-90-051 PECAN BRANCH PH 2 - 57,688 (57,688) 660-9-0581-90-154 WESTINGHOUSE LS & FM 1,207,067 29,739 1,177,328 660-9-0581-90-160 BERRY CREEK INTER. (BC- 4-6)8,328,900 5,201 8,323,699 660-9-0581-90-162 BERRY CREEK INTER. (BCI-3)12,000,000 1,649,325 10,350,675 660-9-0581-90-163 SAN GABRIEL BELT PRESS 2,207,000 306,068 1,900,932 660-9-0581-90-164 PARK LIFT STATION & FORCE MAIN 3,585,740 - 3,585,740 660-9-0581-90-165 BERRY CREEK INTER BCI-3 1,000,000 4,199 995,801 660-9-0581-90-166 EARZ 1,000,000 953,577 46,423 660-9-0581-90-167 SAN GABRIEL INTER SGI-2 2,500,000 - 2,500,000 660-9-0581-90-200 WW INTERCEPTORS - 2,500 (2,500) 660-9-0581-90-220 LIFT STATION UPGRADE 900,280 - 900,280 WATER SERVICES Total 65,090,414 9,819,726 55,270,688 45 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 3/31/18 Status Updates - 6/30/18 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, 2017, and 2018. The columbarium construction bid of $121,432 was approved by City Council on February 27th. Construction will begin in May and is expected to be completed in 60 days. The columbarium construction bid of $121,432 was approved by City Council on February 27th. The niche units had a substantially long lead time for fabrication but are complete. The notice to proceed for construction of the columbarium is scheduled for the week of 7/23. Construction is expected to take 60 days. The $75,000 perpetual reserve transfer from the General Fund is included in the FY2019 Proposed Budget. 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. GASB requires updates every other year. Until the review is conducted again in 2018, the estimate is $1,148,194, an increase of $175,618 over the prior year. GASB requires updates every other year. Until the review is conducted again in 2018, the estimate is $1,148,194, an increase of $175,618 over the prior 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. Staff will bring forward an FY 2018 budget amendment to appropriate use of this reserve for several large payouts in Police. The midyear budget amendment has appropriated the full $222,000 reserve to the General Fund for 4 Police department retirements. The Benefit Payout Reserve is funded at $252,000 in the FY2019 Proposed Budget. Electric Fund Rate Stabilization Reserve Intended to mitigate potential rate impacts due to increased fuel costs or other external factors. The RSR is maintained within the Electric Fund and is budgeted to be $5.5M in FY2018. In FY 2018, staff recommended changes to the ratio of cash and debt financing of utility CIP projects, and evaluated several projects for timing to improve the position of the fund balance. The rate study results and proposed changes to the fiscal and budgetary policy will come to GGAF, GUS Board and Council in the early summer. The 2018 cost of service rate study recommends a minimum cash balance of $17 million for various purposes. Staff presented new reserve policies for the Electric Fund to GGAF and Council in June. The FY 2019 Propsoed Budget includes funding for the 90 day operational reserve, and partial funding for the non-operating reserve for debt and capital. The remaining amount will be funded as the cost of service rate is implemented. The Rate Stabilization Reserve, up to 10% of Purchased Power costs, will be built over the next few years. CITY OF GEORGETOWN Long-term Commitments, Reservations, and Other Unfunded Liabilities June 30, 2018 46 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 3/31/18 Status Updates - 6/30/18 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 Airport Fund has a positive ending balance, is able to fund capital projects going forward, and can support a contingency reserve. Finance staff propose removing the Airport from the unfunded liability list. The parallel taxiway and fuel storage facility are complete. The current Airport Master Plan effort has produced a draft Final Plan under review by the FAA. The Wildlife Hazard Assessment has begun and should be completed late 2018. The Airport Fund has a positive ending balance and is able to fund capital projects going forward as well as support a contingency reserve. The parallel taxiway and fuel storage facility are complete. The current Airport Master Plan effort has produced a draft Final Plan moving forward for consideration by the City. The Wildlife Hazard Assessment has begun and should be completed late 2018. The Airport is working with TxDOT Aviation to begin the design and eventual construction of a rehabilitation of the airport main runway. Staff recommends removing this item from the unfunded liabilities list. 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 2017/18 Capital Improvement Plan for sidewalks is developing projects related to ADA ramp and access improvement in Downtown in areas around 7th and 8th street. The City is continuing the work on the CIP ADA projects. 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. Scenic CDBG sidewalk is 95% complete. We held a walk-thru this morning and will have the TDLR inspection scheduled early next week. Any punch list items will be address in the coming weeks by Patin Construction. Old Town NE Sidewalks are ongoing in design. We are working to obtain 7 easements needed to finalize the design for the 8’ sidewalk along 7th street. Design is near 70%. Project estimated to go out for bid is still 5-8 months due to easement needs. Scenic CDBG sidewalk is complete. All punch list and TDLR items are complete. The only remaining item is vegetation in a few areas of the project. Old Town NE is in process. All 7 easements are being finalized. An additional area for the sidewalk has been added to the scope of work along 7th from Maple to Smith Creek Rd. WPAP has been submitted to TCEQ for approval. 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. 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 before the upcoming pool season. Village pool and the outdoor Recreation Center Pool will be re-plastered after the 2018 pool season. Renovations to Meadow’s Park are nearing completion and the Williams Drive Pool filters have been installed. Village Pool and the outdoor Recreation Center Pool will be re-plastered after the 2018 pool season. 47 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 3/31/18 Status Updates - 6/30/18 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 April 30, 2018, EMS revenue collections are about $1.18 million, which is behind budget projections. At this time, year-end revenue is estimated to be $2.4 million, budget is $2.6 million. Staff continue to monitor EMS revenue, overtime, and medical supply expenses monthly. As of June 30, 2018 EMS revenue collections are $1.84 million, which is slightly under budget for FY2018. Year-end revenue is projected to come in at $2.48 million, budget is $2.61 million. The shortfall in revenue is primarily driven by vacancies that have kept EMS from being able to activate the peak unit in FY2019. Staff continues to monitor operational expenses monthly. EMS revenue is projected to be $2.56 million in FY2019. The fund continues to improve it's position as collection rate and demands for service grow. Since Fire and EMS are an integrated system, staff is recommending to move the EMS fund into the General Fund in FY2019. The General Fund will be able to cover the 90-day contingency requirement currently not being covered in EMS. 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. Staff are developing the FY 2019 IT budget with the goal of funding the asset maintenance reserve, increases for major subscription contracts, and improving disaster recovery by adding a backup data center. The FY 2019 proposed budget includes funding for the technology replacement reserve, next year’s planned replacement and maintenance, and the back-up data center. IT has adopted a five- year strategic plan, and the revised allocation methodology in use since 2017 fully recovers IT’s hardware and software costs based on actual usage by customers. As software systems are replaced or newly acquired, IT is phasing products to the cloud subscription service model, reducing the need for future asset acquisition and replacement. Staff recommends removing this item from the unfunded liabilities list. Radio Equipment Replacement Communication system consisting of 500 on-body and in- vehicle radios for Police, Fire, parks and utilities. Replacement radios are compatible with newer technology. The 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. Year three of the four-year radio replacement program is funded in FY 2019 Proposed Budget. Street Maintenance The City funds street maintenance in the General Fund, supplemented by a 1/8th Street Sales Tax special revenue fund. In 2017 and 2018, the Council and GTAB reviewed various methods for enhanced street maintenance and costs. Direction from Council is to use high performance surface seals and pavement wearing courses and begin programmatically addressing the street network's deferred maintenance backlog, creating a need for approximately $2 million more per year for street maintenance. Staff are reviewing funding alternatives to match this level of maintenance and will bring recommendations forward as part of the budget process. Street Maintenance budget totals $4.3M in the FY2019 Proposed Budget. This is a similar funding level to recent years. Other major items in the General Fund budget did not allow for a significant increase. Staff continue to explore funding sources. 48