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Home My WebLink AboutFY 20 - 1st_Qtr_ Report_RedactedFINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended December 31, 2019 Table of Contents Executive Summary .................................................................................................................................... 1-6 General Fund Schedule ................................................................................................................................. 7 Electric Fund Schedule .................................................................................................................................. 8 Water Services Fund Schedule .......................................................................................................................9 Joint Services Fund Schedule ....................................................................................................................... 10 Council Discretionary Fund Schedule .......................................................................................................... 11 Convention & Visitors Bureau 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 ........................................................................................................ 16-43 Quarterly Investment Report - GTEC ...................................................................................................... 44-49 Quarterly Investment Report - GEDCO ................................................................................................... 50-55 Grant Applications ....................................................................................................................................... 56 Capital Improvement Projects ................................................................................................................ 57-59 Long-term Commitments and Other Unfunded Liabilities ..................................................................... 60-62 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR‐END PROJECTION BEGINNING FUND BALANCE 11,490,900 11,490,900 Revenue Administrative Charges 2,707,730 679,433 679,433 2,707,730 All Other Revenue 6,558,072 997,845 1,340,655 6,558,072 Development and Permit Fees 3,526,250 716,689 1,964,083 3,526,250 Franchise Fees 5,890,270 171,592 787,695 5,890,270 Garey Park 400,000 15,486 78,688 400,000 Parks and Rec Fees 2,433,100 98,718 415,577 2,433,100 Property Tax 14,800,000 7,282,067 8,572,302 14,800,000 ROI 8,060,000 445,860 1,949,803 8,060,000 Sales Tax 17,859,375 35,468 1,655,648 17,859,375 Sanitation Revenue 10,135,450 846,292 2,607,702 10,135,450 EMS Revenue 2,810,000 221,053 708,666 2,810,000 Transfer In 303,634 ‐ ‐ 303,634 Revenue Total 75,483,881 11,510,502 20,760,252 75,483,881 Expense Administrative Services 1,794,306 140,257 427,378 1,794,306 Animal Services 973,518 101,846 266,316 973,518 Arts & Culture 36,729 7,980 8,705 36,729 City Council 177,608 13,602 44,470 177,608 City Secretary 819,283 74,659 245,588 819,283 Code Compliance 524,383 44,723 113,816 524,383 Communications 684,453 42,359 124,585 684,453 Solid Waste & Recycling Services (Environmental Services)8,525,875 694,032 1,369,382 8,525,875 Community Services 265,732 (417) 1,997 265,732 Fire Emergency Services 14,280,663 1,379,134 3,817,937 14,280,663 Fire Support Services 3,120,345 431,802 1,067,019 3,120,345 Fire EMS 2,847,016 184,723 629,570 2,847,016 Garey Park 1,005,187 108,771 310,201 1,005,187 General Gov't Contracts 3,261,450 879,478 1,563,574 3,261,450 Inspections 1,347,040 123,497 344,368 1,347,040 Municipal Court 664,063 71,178 182,302 664,063 Library 2,778,723 321,748 769,040 2,778,723 Parks 2,726,868 295,613 886,714 2,726,868 Parks Admin 620,893 98,900 167,259 620,893 Planning 1,703,290 190,644 464,443 1,703,290 Police Admin 2,427,662 428,569 661,753 2,427,662 Police Operations 13,821,657 1,355,217 3,606,674 13,821,657 Public Works 1,469,053 116,789 294,025 1,469,053 Rec Programs 1,359,138 71,804 288,716 1,359,138 Recreation 2,753,284 366,261 701,180 2,753,284 Streets 4,400,037 255,558 1,061,648 4,400,037 Tennis Center 460,794 51,915 102,787 460,794 Transfer Out 524,860 457,860 457,860 524,860 Expense Total 75,373,910 8,308,501 19,979,308 75,373,910 EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 109,971 3,202,000 780,944 109,971 ENDING FUND BALANCE 109,971 3,202,000 780,944 109,971 RESERVES Contingency Reserve 11,200,000 11,200,000 Benefit Payout Reserve 340,000 340,000 Reserve Total 11,540,000 11,540,000 AVAILABLE FUND BALANCE 60,871 60,871 Year‐End Projection to Approved: Dec FY2020 General Fund 7 FY2020 BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 5,892,640 5,892,640 Operating Revenue Electric Revenue (SEE NOTE A)85,509,803 6,718,405 19,640,581 85,509,803 Other Revenue 4,498,616 103,808 393,724 4,498,616 Developer Contributions 600,000 354,049 417,998 600,000 Operating Revenue Total 90,608,419 7,176,262 20,452,304 90,608,419 Operating Expenditures CRR Credits, Net (2,000,000) (160,725) (739,143) (2,000,000) Georgetown Utility Systems 20,167,271 2,834,974 5,180,830 20,167,271 Purchased Power (SEE NOTE B)61,500,000 4,379,849 13,904,240 61,500,000 Transfers Out-IT 3,000 - - 3,000 Transfers Out-ROI 4,500,000 419,848 1,231,822 4,500,000 Operating Expenditures Total 84,170,271 7,473,945 19,577,750 84,170,271 Total Net Operations 6,438,148 (297,683) 874,555 6,438,148 Non-Operating Revenue Renewable Energy Credits - 216,209 216,208 216,208 Interest 40,000 650 2,855 40,000 Grant Revenue 250,000 - - - Bond Proceeds 4,010,000 - - 4,010,000 Sale of Property 10,000 2,207 7,054 10,000 Transfer In-Other 500,000 - - 500,000 Non-Operating Revenue Total 4,810,000 219,066 226,117 4,776,208 Non-Operating Expenditures CIP 4,010,000 168,519 1,053,206 4,010,000 Debt Service 2,866,312 - - 2,866,312 Interest Expense 1,224,183 - - 1,224,183 Transfer Out-Other 295,059 - - 295,059 Non-Operating Expenditures Total 8,395,553 168,519 1,053,206 8,395,553 Total Net Non-Operations (3,585,553) 50,547 (827,089) (3,619,345) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 2,852,594 (247,136) 47,465 2,818,803 ENDING FUND BALANCE 8,745,234 8,711,442 Contingency 4,190,234 4,190,234 Rate Stabilization Reserve 4,555,000 4,521,208 AVAILABLE FUND BALANCE - - NOTES: Year-End Projection to Approved: Dec FY2020 Electric Fund A.INCLUDES ACCRUAL FOR DECEMBER REVENUE BILLED THROUGH FEB 17. 8 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 67,516,478 67,516,478 Operating Revenue Capital Recovery Fee 14,250,000 2,356,302 7,357,457 14,250,000 Irrigation Utility Revenue 310,000 17,548 135,545 310,000 Other Revenue 3,451,800 626,272 2,076,332 3,451,800 Wastewater Utility Revenue 13,298,825 1,096,821 4,331,852 13,298,825 Water Utility Revenue 30,869,778 2,187,729 6,567,072 30,869,778 Operating Revenue Total 62,180,403 6,284,671 20,468,258 62,180,403 Operating Expenditures Irrigation 270,000 11,290 99,886 270,000 Transfer Out, Fleet/Joint Service/IT 124,500 - - 124,500 Transfer Out, General 275,000 - - 275,000 Transfer Out, ROI 3,300,000 22,164 655,441 3,300,000 Wastewater Distribution 763,100 57,846 371,682 763,100 Wastewater Plant Management 2,717,076 338,767 1,513,203 2,717,076 Water Administration 23,176,352 6,127,216 7,065,586 23,176,352 Water Distribution 2,645,125 161,135 778,218 2,645,125 Water Operations 4,244,971 348,951 1,140,880 4,244,971 Water Plant Management 2,932,017 265,586 1,218,847 2,932,017 Operating Expenditures Total 40,448,141 7,332,955 12,843,744 40,448,141 Total Net Operations 21,732,262 (1,048,284) 7,624,514 21,732,262 Non-Operating Revenue Bond Proceeds 18,600,000 - - 18,600,000 Grant Revenue - - - - Interest 949,500 148,403 473,221 949,500 Transfer In-Debt 104,211 - - 104,211 Non-Operating Revenue Total 19,653,711 148,403 473,221 19,653,711 Non-Operating Expenditures CIP 90 79,257,974 758,136 3,847,642 79,257,974 CIP 91 1,200,000 - - 1,200,000 Debt Service 6,642,418 - - 6,642,418 Non-Operating Expenditures Total 87,100,392 758,136 3,847,642 87,100,392 Total Net Non-Operations (67,446,681) (609,733) (3,374,421) (67,446,681) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (45,714,419) (1,658,017) 4,250,093 (45,714,419) ENDING FUND BALANCE 21,802,059 21,802,059 Contingency 8,236,379 8,236,379 Non-Operating Contingency 10,000,000 10,000,000 AVAILABLE FUND BALANCE 3,565,680 3,565,680 Year-End Projection to Approved: Dec FY2019 Water Fund 9 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 1,394,842 1,394,842 Revenue Gedco Admin/Contract Fee 244,771 61,193 61,193 244,771 Gtec Admin/Contract Fee 163,845 40,961 40,961 163,845 Interest 25,000 - 722 25,000 Other 103,000 15,490 72,825 103,000 Service Fees - Airport 129,102 32,276 32,276 129,102 Service Fees - Electric 4,309,470 1,077,368 1,077,368 4,309,470 Service Fees - General 3,398,432 849,608 849,608 3,398,432 Service Fees - Stormwater 998,340 249,585 249,585 998,340 Service Fees - Water 8,431,185 2,107,796 2,107,796 8,431,185 Transfers In 295,059 - - 295,059 VPID Admin/Contract Fee 16,000 4,000 4,000 16,000 Revenue Total 18,114,204 4,438,276 4,496,333 18,114,204 Expense Accounting 1,128,153 85,457 263,006 1,128,153 BIP 329,898 22,186 59,942 329,898 City Wide Hr 507,500 16,490 60,431 507,500 Conservation 894,920 55,956 136,522 894,920 Customer Care 5,046,552 893,027 1,228,438 5,046,552 Economic Development 663,668 50,874 170,012 663,668 Engineering 2,492,992 250,918 659,537 2,492,992 Engineering Support 1,198,892 93,736 346,602 1,198,892 Finance Administration 1,161,128 80,893 427,085 1,161,128 Gus Administration - *(107,860)- - Human Resources 1,446,884 105,675 282,033 1,446,884 In-House Legal 1,063,008 77,196 285,616 1,063,008 Insurance & Legal 800,400 - 20,332 800,400 Joint Svcs Con 610,000 74,050 250,370 610,000 Purchasing 923,989 101,248 244,043 923,989 Transfer Out 129,171 - - 129,171 Expense Total 18,397,157 1,799,846 4,433,972 18,397,157 EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (282,953) 2,638,430 62,361 (282,953) AVAILABLE FUND BALANCE 1,111,890 62,361 1,111,890 *Entries made to correct expenses going to a closed cost center. Joint Services Fund Year-End Projection to Approved: Dec FY2020 10 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 109,415 109,415 Revenue Interest 2,500 163 546 2,500 Transfer In, General Fund - - - - Revenue Total 2,500 163 546 2,500 Expense Transfer Out, GCP - - - - Transfer Out, General Fund - - - - Transfer Out, Joint Services - - - - Expense Total - - - - EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 2,500 163 546 2,500 ENDING FUND BALANCE 111,915 546 111,915 Year End Projections to Approved: Dec FY 2020 Council Discretionary Fund 11 APRROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR‐END PROJECTION BEGINNING FUND BALANCE 1,437,144 ‐ ‐ 1,437,144 Revenue Hotel/Motel Occupancy Tax Revenues 1,300,000 122,467 249,317 1,300,000 Interest 18,000 2,166 6,934 18,000 Other 18,500 3,206 8,033 18,500 Poppy Festival 144,283 13,220 13,922 144,283 Revenue Total 1,480,783 141,059 278,206 1,480,783 Expense Operations 812,015 55,110 336,664 812,014 Personnel 413,567 38,859 111,364 413,567 Poppy Festival 186,700 12,050 12,318 186,700 Transfer to Facilities ‐ ‐ ‐ ‐ Transfer to Fleet ‐ ‐ ‐ ‐ Transfer to General Fund 28,634 ‐ ‐ 28,634 Transfer to Information Technology ‐ ‐ ‐ ‐ Expense Total 1,440,916 106,018 460,345 1,440,915 EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS 39,867 35,041 (182,140) 39,868 ENDING FUND BALANCE 1,477,011 (182,140) 1,477,012 Year‐End Projection to Approved: Dec FY2020 Convention & Visitors Bureau Fund 12 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 1,262,948 1,262,948 Operating Revenue Fuel and Terminal Sales 2,901,500 217,400 681,825 2,901,500 Interest and Other 83,000 5,056 15,395 83,000 Leases and Rentals 896,500 73,297 223,155 896,500 Operating Revenue Total 3,881,000 295,754 920,375 3,881,000 Operating Expenditures Operations-Fuel 2,270,000 150,441 2,200,000 2,270,000 Operations-Non Fuel 833,327 131,948 187,436 833,327 Personnel 501,098 37,324 127,273 501,098 Operating Expenditures Total 3,604,425 319,713 2,514,709 3,604,425 TOTAL NET OPERATIONS 276,575 (23,959) (1,594,334) 276,575 Non-Operating Revenue Bond Proceeds 750,000 - - 750,000 Non-Operating Revenue Total 750,000 - - 750,000 Non-Operating Expenditures Buildings & Improvements 750,000 - - 750,000 Debt Service 161,420 - - 161,420 Furniture & Equipment 22,000 - 8,111 22,000 Hangar Upgrades 40,000 - 2,177 40,000 Improvements 35,000 - - 35,000 Pavement Upgrades 10,000 - - 10,000 Wildlife Management 45,000 - 30,762 45,000 Non-Operating Expenditure Total 1,063,420 - 41,050 1,063,420 TOTAL NET NON-OPERATIONS (313,420) - (41,050) (313,420) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (36,845) (23,959) (1,635,384) (36,845) ENDING FUND BALANCE 1,226,103 1,226,103 RESERVES Contingency 256,021 256,021 Debt Service Reserve 143,431 143,431 Reserves Total 399,452 399,452 AVAILABLE FUND BALANCE 826,651 826,651 Airport Operations Fund Year-End Projection to Approved: Dec FY2020 13 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 17,130,653 - 17,130,653 Operating Revenue Sales Tax 7,937,500 15,763 735,844 7,937,500 Interest 230,000 24,578 103,482 230,000 Operating Revenue Total 8,167,500 40,341 839,325 8,167,500 Operating Expenditure Administrative Support 410,223 102,356 102,356 410,223 Operating Expenditure Total 410,223 102,356 102,356 410,223 TOTAL NET OPERATIONS 7,757,277 (62,015) 736,970 7,757,277 Non-Operating Revenue Debt Proceeds 4,700,000 - - 4,700,000 Non-Operating Revenue Total 4,700,000 - - 4,700,000 Non-Operating Expenditure Arterial SE1:Inner Loop/SH130 7,200,000 - - 7,200,000 Rivery TIA Improvements 300,000 - 4,140 300,000 FM 971 / Fontana - - - - IH 35 / HWY29 Intersection - - - - SH29 1,150,000 - - 1,150,000 Confido 600,000 - - 600,000 Mays St - 40 43,568 - Big C 2,000,000 - - 2,000,000 Available for Projects TBD 1,984,375 - - 1,984,375 Debt Service 3,333,921 - - 3,333,921 Non-Operating Expenditure Total 16,568,296 40 47,708 16,568,296 TOTAL NET NON-OPERATIONS (11,868,296) (40) (47,708) (11,868,296) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (4,111,019) (62,055) 689,262 (4,111,019) ENDING FUND BALANCE 13,019,634 (62,055) 689,262 13,019,634 Georgetown Transportation Enhancement Corporation Fund Year-End Projections to Approved: Dec FY2020 14 APPROVED BUDGET CURRENT PERIOD YEAR TO DATE (W/ENCUMB) YEAR-END PROJECTION BEGINNING FUND BALANCE 8,018,546 8,018,546 OPERATING REVENUES Interest 76,000 11,861 37,849 76,000 Sales Tax 1,984,375 3,941 183,961 1,984,375 OPERATING REVENUES Total 2,060,375 15,802 221,810 2,060,375 OPERATING EXPENDITURES Administrative Charges 244,771 61,193 61,193 244,771 Marketing 100,000 26,384 37,000 100,000 Special Services 30,000 - 9,108 30,000 Miscellaneous Expense 550 - - 550 OPERATING EXPENDITURES Total 375,321 87,577 107,301 375,321 TOTAL NET OPERATIONS 1,685,054 (71,774) 114,509 1,685,054 NON-OPERATING EXPENDITURES Debt Service 311,880 - - 311,880 Economic Development Projects -Undetermined 4,017,104 - - 4,017,104 Economic Development Projects 4,675,000 - - 4,675,000 NON-OPERATING EXPENDITURES Total 9,003,984 - - 9,003,984 TOTAL NET NON-OPERATIONS (9,003,984) - - (9,003,984) EXCESS (DEFICIENCY) OF TOTAL REVENUE OVER TOTAL REQUIREMENTS (7,318,930) (71,774) 114,509 (7,318,930) ENDING FUND BALANCE 699,616 114,509 699,616 Georgetown Economic Development Corporation Fund Year-End Projections to Approved: Dec FY2020 15 Department Federal Grantor Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized Airport N/A Texas Department of Transportation-Aviation M1914GEOR RAMP Grant - Routine Airport Maintenance Program - - Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1814GEORG Runway 18/36 Rehabilitation- Construction - - Airport Federal Aviation Administration Texas Department of Transportation-Aviation 1914GEORG Taxiway Lighting Project 12,195.00 10,975.50 Fire US Department of Homeland Security Federal Emergency Management Agency EMW-2017-FH-00496 SAFER 244,751.34 183,563.50 Fire Federal Emergency Management Agency Texas Department of Public Safety - TDEM TEEX Tracy Ryan Deployment Urban Search and Rescue (US&R) - 12,207.45 Planning US Department of Housing & Urban Development Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps along 17th St 1,495.00 1,495.00 Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair - - Police Bureau of Justice Assistance N/A KXPIIIA Bullet Proof Vests - Supply Police with new vests - - Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement - - Police US. Department of Treasury N/A TX2460200 Equitable Sharing Agreement 1,684.49 2,573.74 Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-187 Highway Planning & Construction (Austin Ave Bridge) 12,140.65 - Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-200,201,202 Highway Planning & Construction (Williamson Dr Corridor) - - Parks Texas Parks and Wildlife Department (TPWD) Federal Highway Administration RT017010 Recreation San Gabriel Trails $ 173,682.22 - CITY OF GEORGETOWN Grant/Federal Funding Report as of December 31, 2019 Active 56 Quarterly CIP Report FY2020 Budget FY2020 YTD + Encumbraces FY2020 YTD Actual Airport BUILDINGS & IMPROVEMENTS 750,000 - 750,000 FURNITURE & EQUIPMENT 22,000 8,110 13,890 HANGAR UPGRADES 40,000 2,177 37,823 IMPROVEMENTS 35,000 - 35,000 PAVEMENT UPGRADES 10,000 - 10,000 WILDLIFE MANAGEMENT 45,000 30,762 14,239 Airport Total 902,000 41,049 860,951 Electric ELECTRIC CIP 4,010,000 1,053,206 2,956,794 Electric Total 4,010,000 1,053,206 2,956,794 GCP Downtown & Facilities DOWNTOWN PARKING GARAGE 4,000,000 - 4,000,000 FUEL STATION 1,100,000 - 1,100,000 GMC REMODEL 250,000 - 250,000 GCP Downtown & Facilities Total 5,350,000 - 5,350,000 GCP Parks ADA TRANSITION PLAN 150,000 - 150,000 NEIGHBORHOOD PARK DEVELOPMENT 250,000 6,800 243,200 PARKS MASTER PLAN 200,000 - 200,000 SAN GABRIEL PARK 600,000 905,175 (305,175) TENNIS CENTER POOL DEMO 70,000 - 70,000 TRAIL DEVELOPMENT 1,275,000 - 1,275,000 GCP Parks Total 2,545,000 911,975 1,633,025 GCP Public Safety DIGITAL MOBILE VIDEO 800,000 800,000 - 57 PUBLIC SAFETY EQUIPMENT - CARDIAC MONITORS 225,000 - 225,000 SCBA REPLACEMENT 290,000 - 290,000 GCP Public Safety Total 1,315,000 800,000 515,000 GCP Transportation AUSTIN AVE BRIDGES 1,000,000 - 1,000,000 DOWNTOWN SIDEWALKS 1,000,000 162,970 837,030 INTERSECTION IMPROVEMENTS 1,400,000 - 1,400,000 LEANDER RD(NORWOOD-SWBYPASS)3,200,000 - 3,200,000 NORTHWEST BLVD BRIDGE 750,000 2,445 747,555 SOUTHWESTERN BLVD 2,650,000 - 2,650,000 WESTINGHOUSE - SCENIC LAKE TRAFFIC SIGNAL 600,000 - 600,000 GCP Transportation Total 10,600,000 165,415 10,434,585 Stormwater CURB & GUTTER 650,000 447,365 202,635 DENTENTION PONDS 98,118 - 98,118 DRAINAGE IMPROVEMENT/FLOOD MITIGATION PROJECTS 300,000 - 300,000 STORMWATER INFASTRUCTURE 200,000 21,489 178,511 Stormwater Total 1,248,118 468,854 779,264 Street Tax SRF STREET MAINTENANCE 4,281,264 423,500 3,857,764 Street Tax SRF Total 4,281,264 423,500 3,857,764 Wastewater BERRY CREEK INTER (BC 4-6)14,714,161 - 14,714,161 EARZ 1,500,000 178,735 1,321,265 SAN GABRIEL INTER SGI-2 2,000,000 - 2,000,000 SAN GABRIEL WWTP REHAB 2,500,000 - 2,500,000 WW INTERCEPTORS 613,874 - 613,874 BERRY CREEK INTERCEPTOR 10,000,000 (41,641) 10,041,641 LIFT STATION UPGRADE 1,100,000 - 1,100,000 Wastewater Total 32,428,035 137,094 32,290,941 58 Water AMI SYSTEM 750,000 - 750,000 CR 255 (WD14-2)1,493,963 445 1,493,518 LEANDER INTERCONNECT 225,000 - 225,000 PUMPS & STORAGE 1,000,000 1 999,999 RABBIT HILL WATERLINE 1,050,000 - 1,050,000 ROCK SUPPLY LINE 1,100,000 - 1,100,000 S. LAKE WTP 2018 5,200,000 - 5,200,000 SHELL ROAD WATER LINE 6,033,651 - 6,033,651 WATER MAINS 2,208,325 313,265 1,895,060 WEST LOOP (H-1A)919,000 - 919,000 CARRIAGE OAKS TRANSMISSION 500,000 - 500,000 CR262 WATERLINE 500,000 - 500,000 GATLIN/TERAVISTA IMPROVEMENTS 450,000 - 450,000 HOOVER PUMP STATION 750,000 - 750,000 LWTP RAW WATER INTAKE REHABILITATION 18,750,000 - 18,750,000 MISCELLANEOUS LINE UPGRADES 250,000 267,735 (17,735) ROUND ROCK SUPPLY LINE 300,000 - 300,000 SOUTH WEST BYPASS WATER (H24-1)1,800,000 - 1,800,000 SOUTHSIDE WATER TREATMENT PLANT 500,000 - 500,000 STONEWALL RANCH PS IMPROVEMENTS 2,250,000 - 2,250,000 TANK REHABILITATION 2,000,000 - 2,000,000 Water Total 48,029,939 581,446 47,448,493 59 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 9/30/19 Status Updates - 12/31/19 Cemetery Special Revenue Fund Currently cemetery operations are self-funded through plot sales of approximately $50K per year. The cemetery is managed through Parks Administration. In 2015, Council elected to reserve $75,000 annually for future costs associated with maintaining the property. The General Fund has made this transfer in since FY 2016. There has been no change during this quarter.There has been no change during this quarter. Unfunded Actuarial Accrued Liability (UAAL) Recognizes the outstanding liability for the City’s employee retirement plan through TMRS. The City contributes monthly to fund the UAAL, based on an annual percentage of payroll. Actual % of payroll costs is recognized within each fund. The UAAL is provided by TMRS and lags one year. As of 12/31/2018, the net pension liability is $22.3 million and is 85.6% funded. The 2020 total combined contribution rate is 12.26%. This decrease is due to a decrease in payroll growth. As of 9/30/2019, the net pension liability is $28.8 million and is 81.41% funded. The 2020 total combined contribution rate is 12.26%. This increase is due to a change in the discount rate. Other Post Employee Benefits (OPEB) While the City has no obligation to offer additional retiree benefits, retirees are eligible to participate in the City’s health insurance program. That ability represents a subsidy that impacts health insurance costs to the City. Retirees pay their monthly premiums to the self insurance fund, which then processes their health insurance claims. This is an actuarial calculation based on current and future employees on future City health insurance costs and Life insurance benefits, which has numerous and complex factors in its calculation. Retirees pay their own premiums, and thus the liability is considered “pay as you go”. With additional employees being added, potential future retiree impacts increase. The 2018 current OPEB liability is $2,182,012 for healthcare benefits and $1,091,292 for Life insurance benefits. OPEB liability as of 9/30/2019 is $3.3 million. This is a combination of sudden death benefits as well as post-retirement healthcare. Compensated Absence Future costs associated with benefits such as vacation, and sick leave for City employees. Compensated Absence is accrued annually to each proprietary fund type on a GAAP basis and accounted for on the balance sheet of each fund. For governmental funds (and for budgetary basis), the expense is recognized when due and payable. The City keeps a reserve in the General Fund to help offset large payouts for long-term employees. The reserve is used as needed, and annually replenished or increased based on known risk. The current amount of the Benefit Payout Reserve is $255,000. Compensated absences as of 9/30/2019 are $7.5 million. This increase is due to more time being earned than used in FY19. In FY2020, the budgeted reserve was increased to $340,000. 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. Purchased Power prices continued to affect the fund balance. The City sold several assets as detailed in the Executive Summary of this report in order to improve cash flow and begin to recover the rate stabilization reserve. The City is on track to approve a contract in December to manage the power portfolio in FY2020. The June PCA will remain in effect in FY2020. Purchased Power expenses for the cumulative first quarter are on track compared to the budget for FY2020. Revenues are also tracking above budget, helping to restore positive cash flow to the fund. CITY OF GEORGETOWN Long-term Commitments, Reservations, and Other Unfunded Liabilities December 31, 2019 60 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 9/30/19 Status Updates - 12/31/19 Airport Maintenance Fund on-going maintenance of the Airport grounds, runways and taxi ways. Terminal and Tower included in Facilities ISF. An Airport Master Plan was developed to address long term capital maintenance project prioritization. Terminal Drive was paved in late August 2019. That is the only paving project that I know of here. We did have the runway rehab project, but that was a TxDOT/FAA funded project. We have none at this time. 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. There are currently no changes to the ADA plan. There are currently no changes to the ADA plan. Sidewalk Maintenance & Masterplan Currently, new sidewalks are built as development occurs. Repairs are funded as needed or if funding is available, when major roads are repaired. Useful life of a sidewalk is estimated at 40 to 50 years. The largest revenue source comes from the City’s General Fund, but there has been some debt funding as well. Debt funded projects: Old Town NE Sidewalk – GTAB approved award to Choice Builders on August 9th. City Council approved award on August 27th 2019. Notice to proceed issued for 10-7-19, groundbreaking held on 10-8-19. Contractor has begun working on the est end of the project near Southwestern University. Austin Ave Sidewalks (Leander to Hwy 29) – Patin Construction has installed all sidewalk and pedestrian ramps throughout the project. Striping work and pedestrian signs are in place. Contractor addressing punch list and TDLR review items in October. Project to close out end of October to Mid November. Debt funded projects: Old Town NE Sidewalk – Contractor has installed the 8' sidewalk along 7th street from Myrtle to College. Sidewalk has also been installed along Ash St, College Street, 6th Street and 8th Streets. Utility relocations along 7th street between College and Pine are being scheduled at this time. Estimated completion of the project is the end of March 2020. Austin Ave Sidewalks (Leander to Hwy 29) – Project is complete and closed out. 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. Asset replacement needs for FY20 totaled $394K. Funding was received through the budget process for $297K leading to $97K being deferred to a future year. Funding was provided at $394K in the FY20 budget for capital repair and maintenace covering the full amount of replacement and repair needs. Projects are underway to complete the items listed. Radio Equipment Replacement Communication system consisting of 500 on-body and in- vehicle radios for Police, Fire, parks and utilities. Replacement radios are compatible with newer technology. The replacement takes place over 5 years due to cost and is funded with certificate of obligation debt. The first payment of $867,334.90 is being made October 17th. The FY2020 budget includes $129,000 for year 4 of the project. Staff is preparing the procurement. 61 Unfunded Liability & Commitments Financial Impact/Notes Status Updates - 9/30/19 Status Updates - 12/31/19 Street Maintenance The City funds street maintenance in the General Fund, supplemented by a 1/8th Street Sales Tax special revenue fund. In 2017 and 2018, the Council and GTAB reviewed various methods for enhanced street maintenance and costs. Direction from Council is to use high performance surface seals and pavement wearing courses and begin programmatically addressing the street network's deferred maintenance backlog, creating a need for approximately $2 million more per year for street maintenance. Hot In Place Recycling (HIPR) is scheduled for Berry creek Subdivision and Park View estates in FY 2020. High Performance Surface Seal is scheduled for Sun City, Park View Estates subdivisions and areas near San Gabriel Park FY 2020. No change. Fiber Asset Allocation Network fiber infrastructure is installed across the City. Traditionally, the Electric Fund has installed and maintained the network. In reviewing all costs for the Electric Fund, the City has begun moving the fiber asset to the IT Fund. Staff must develop a multi-year strategy to complete the asset transfer and allocate costs for maintenance. In the last quarter of FY 2019, the IT Fund purchased $650,000, or about 1/4th, of the fiber asset from Electric. The IT Director is updating the annual and forecasted allocation model to absorb the asset. Staff will present a plan in the FY 2021 budget development process. 62