HomeMy WebLinkAboutFY 20 - 4th_Qtr_Report_RedactedFINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended September 30, 2020
Table of Contents
Executive Summary .................................................................................................................................... 1-7
General Fund Schedule .............................................................................................................................. 8-9
Electric Fund Schedule ........................................................................................................................... 10-11
Water Services Fund Schedule ............................................................................................................... 12-13
Joint Services Fund Schedule ....................................................................................................................... 14
Council Discretionary Fund Schedule .......................................................................................................... 15
Convention & Visitors Bureau Fund Schedule ............................................................................................. 16
Airport Fund Schedule ................................................................................................................................. 17
Georgetown Transportation Enhancement Corporation Fund Schedule ............................................... 18-19
Georgetown Economic Development Corporation Fund Schedule ........................................................ 20-21
Quarterly Investment Report - City ........................................................................................................ 22-48
Quarterly Investment Report - GTEC ...................................................................................................... 49-55
Quarterly Investment Report - GEDCO ................................................................................................... 56-62
Grant Applications .................................................................................................................................. 63-64
Capital Improvement Projects ................................................................................................................ 65-70
Long-term Commitments and Other Unfunded Liabilities ..................................................................... 71-74
COG - General Fund Financial Report
Period FY 2020 - Sep
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 14,263,750 - 14,263,750 14,263,750 - 100.00%
Revenue
Administrative Charges 2,707,730 226,478 2,717,730 2,707,730 10,000 100.37%
Other Revenue 2,638,420 70,424 2,828,603 2,946,785 (118,182) 95.99%
Development and Permit 3,804,250 628,456 5,549,541 4,555,550 993,991 121.82%
Franchise Fees 5,910,270 750,643 5,757,843 5,912,057 (154,213) 97.39%
Parks and Rec Fees 2,833,100 106,563 1,548,339 1,476,005 72,334 104.90%
Property Tax 14,900,000 43,730 15,060,590 14,915,295 145,295 100.97%
ROI 8,060,000 383,569 8,503,933 8,060,000 443,933 105.51%
Sales Tax 17,861,875 5,149,172 19,108,465 17,946,250 1,162,215 106.48%
Sanitation Revenue 9,933,450 865,863 10,112,935 9,933,450 179,485 101.81%
Fire/EMS revenue 7,156,152 1,865,090 7,367,065 6,849,385 517,680 107.56%
Transfers In 373,100 69,466 373,100 373,100 - 0.00%
Revenue Total 76,178,347 10,159,454 78,928,145 75,675,607 3,252,538 104.30%
Expense
Administrative Services 1,933,851 131,646 1,734,398 1,675,228 (59,171) 103.53%
Animal Services 989,507 58,916 913,514 967,657 54,143 94.40%
Arts & Culture 36,729 2,526 44,405 53,694 9,289 82.70%
City Council 177,608 11,543 161,758 169,049 7,291 95.69%
City Secretary 819,283 64,385 734,092 761,473 27,381 96.40%
Code Enforcement 524,382 44,063 417,111 439,142 22,031 94.98%
Communications 684,453 34,844 501,726 608,209 106,482 82.49%
Community Services 265,738 23,066 252,580 253,593 1,013 99.60%
Environmental Services 8,532,355 1,451,584 8,450,680 8,480,012 29,332 99.65%
Fire Emergency Services 14,312,200 723,789 14,004,382 14,426,111 421,729 97.08%
Fire Support Services 3,160,344 171,336 3,293,090 3,351,268 58,178 98.26%
Fire EMS 2,864,866 224,347 2,373,015 2,532,757 159,742 93.69%
Garey Park 976,612 46,340 815,939 914,087 98,148 89.26%
General Gov't Contracts 3,443,750 290,739 4,148,434 4,339,251 190,817 95.60%
Inspections 1,347,040 78,069 1,309,326 1,282,436 (26,890) 102.10%
Library 2,788,513 142,871 2,746,827 2,702,504 (44,323) 101.64%
Municipal Court 664,063 12,062 571,075 605,084 34,008 94.38%
Parks 2,781,344 153,589 2,486,755 2,640,419 153,665 94.18%
Parks Admin 624,953 38,359 601,276 619,947 18,671 96.99%
Planning 1,937,189 84,044 1,654,074 1,656,891 2,817 99.83%
Police Admin 2,632,662 175,607 2,411,873 2,659,080 247,207 90.70%
Police Operations 13,821,765 723,486 13,388,215 13,390,524 2,308 99.98%
Public Works 1,469,053 126,590 1,040,671 1,235,203 194,531 84.25%
Rec Programs 1,370,707 32,173 784,909 1,098,537 313,628 71.45%
8
Recreation 2,798,284 155,894 2,658,871 2,686,073 27,202 98.99%
Streets 5,261,012 204,654 3,810,093 4,071,354 261,261 93.58%
Tennis Center 464,354 20,040 353,704 351,183 (2,522) 100.72%
Transfer Out 524,860 0 457,860 524,860 67,000 87.23%
Expense Total 77,207,474 5,226,561 72,120,656 74,495,624 2,374,968 96.81%
Excess (Deficiency) of Total
Revenue over Total
Requirements
(1,029,127)4,932,893 6,807,489 1,179,983 5,627,506 576.91%
Ending Fund Balance 13,234,623 4,932,893 21,071,239 15,443,733 5,627,506 136.44%
Reserves
Contingency Reserve 11,414,340 - 11,414,340 11,414,340 - 100.00%
Economic Stability Reserve 1,480,283 - 1,759,446 1,759,446 - 100.00%
Benefit Payout Reserve 340,000 - 340,000 340,000 - 100.00%
Total Reserved Fund 13,234,623 - 13,513,786 13,513,786 100.00%
Available Fund Balance 0 4,932,893 7,557,453 1,929,947 5,627,506 391.59%
9
COG - Electric Fund Financial Report
Period FY 2020 - Sep
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 6,614,742 - 6,614,742 6,614,742 - 100.00%
Operating Revenue
Electric Revenue 85,509,803 7,806,289 86,150,073 82,530,271 3,619,802 104.39%
Interest 40,000 1,464 10,703 10,000 703 107.03%
Other Revenue 4,498,616 1,707,249 4,539,266 4,515,348 23,918 100.53%
Developer Contributions 600,000 991,625 4,476,298 2,000,000 2,476,298 223.81%
Operating Revenue Total 90,648,419 10,506,626 95,176,341 89,055,619 6,120,722 106.87%
Operating Expenditures
CRR Credits (2,000,000) (222,433) (1,858,623) (1,698,472) 160,151 109.43%
Electric Operations 20,282,587 (757,052) 17,360,443 19,448,613 2,088,170 89.26%
Purchase Power 61,500,000 5,333,752 61,542,930 61,198,472 (344,458) 100.56%
Transfers Out - ROI 4,500,000 - 4,500,000 4,500,000 (0) 100.00%
Operating Expenditures
Total
84,282,587 4,354,267 81,544,750 83,448,613 1,903,863 97.72%
Total Net Operations 6,365,832 6,152,359 13,631,591 5,607,006 8,024,585 243.12%
Non-Operating Revenue
Renewable Energy Credits - 258,500 1,135,761 - 1,135,761 0.00%
Grant Revenue - 1,860 1,860 - 1,860 0.00%
Bond Proceeds 5,010,000 - 5,055,000 5,010,000 45,000 100.90%
Transfers In 500,000 500,000 500,000 500,000 - 100.00%
Sale of Assets 10,000 9,661,890 9,678,188 10,261,000 (582,812) 94.32%
Non-Operating Revenue
Total
5,520,000 10,422,251 16,370,809 15,771,000 599,809 103.80%
Non-Operating
Expenditures
CIP 5,110,948 2,344,108 4,228,906 5,010,000 781,094 84.41%
Interest Expense 1,224,183 - 1,181,242 1,224,183 42,941 96.49%
Debt Service 2,866,312 - 2,742,862 2,866,312 123,450 95.69%
Non-Operating Expenditures
Total
9,201,442 2,344,108 8,153,010 9,100,495 947,485 89.59%
Total Net Non-Operations (3,681,442) 8,078,143 8,217,799 6,670,505 1,547,294 123.20%
Excess (Deficiency) of Total
Revenue Over Total
Requirements
2,684,390 14,230,502 21,849,390 12,277,511 9,571,879 177.96%
Ending Fund Balance 9,299,132 14,230,502 28,464,132 18,892,253 9,571,879 150.67%
Reserves
Contingency Reserve 4,142,159 - 4,190,234 4,190,234 - 100.00%
Non-operating Reserve 4,555,000 - 13,402,019 13,402,019 - 100.00%
Reserved Bond Proceeds 3,477,046 1,300,000 (2,177,046)
10
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Total Reserved Fund
Balance
8,697,159 - 21,069,299 18,892,253 (2,177,046) 111.52%
Available Fund Balance 601,973 14,230,502 7,394,833 - 7,394,833 0.00%
11
COG - Water Fund Financial Report
Period FY 2020 - Sep
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 92,139,373 - 92,139,373 92,139,373 - 100.00%
Operating Revenue
Capital Recovery Fee 26,550,000 380,342 28,552,315 26,449,377 2,102,938 107.95%
Interest 949,500 35,616 1,455,489 1,045,052 410,437 139.27%
Irrigation Charges 310,000 99,571 513,679 310,000 203,679 165.70%
Other Revenue 3,450,300 846,121 7,591,503 6,201,391 1,390,112 122.42%
Wastewater Charges 13,298,825 1,145,944 14,322,255 13,500,000 822,255 106.09%
Water Charges 30,869,778 3,576,766 35,453,977 30,881,001 4,572,976 114.81%
Total Operating Revenue 75,428,403 6,084,360 87,889,217 78,386,821 9,502,396 112.12%
Operating Expenses
Irrigation Operations 290,000 21,370 249,041 290,000 40,959 85.88%
Transfer Out, ROI 3,300,000 359,055 4,115,327 3,300,000 (815,327) 124.71%
Transfer Out 467,733 68,233 68,233 399,500 331,267 17.08%
Wastewater Operations 6,230,509 2,865,265 5,128,377 4,266,100 (862,277) 120.21%
Wastewater Plant
Management
3,316,576 206,166 3,169,700 3,538,422 368,722 89.58%
Water Administration 23,204,199 2,935,004 22,700,312 24,565,931 1,865,619 92.41%
Water Distribution 4,186,426 269,388 2,504,866 2,756,113 251,247 90.88%
Water Operations 4,277,280 211,415 3,975,056 4,136,579 161,523 96.10%
Water Plant Management 3,482,597 277,426 3,177,495 3,596,243 418,748 88.36%
Total Operating Expenses 48,755,320 7,213,322 45,088,406 46,848,888 1,760,481 96.24%
Total Net Operations 26,673,083 (1,128,962) 42,800,810 31,537,933 11,262,877 135.71%
Non-Operating Revenue
Bond Proceeds 9,300,000 - 9,375,000 9,375,000 0 100.00%
Grant Revenue - - 0 - 0 0.00%
Transfers In - Debt 104,211 - 0 104,211 (104,211) 0.00%
Sale of Assets 1,500 - 735,404 735,404 0 100.00%
Non-Operating Revenue
Total
9,405,711 - 10,110,404 10,214,615 (104,211)98.98%
Non-Operating
Expenditures
Interest Expense 2,150,937 (2,470) 2,082,610 2,150,937 68,326 96.82%
CIP 95,488,428 1,684,193 12,929,709 95,494,449 82,564,740 13.54%
Debt Service 4,491,481 750 4,357,862 4,300,481 (57,381) 101.33%
Non-Operating
Expenditures Total
102,130,846 1,682,473 19,370,181 101,945,867 82,575,685 19.00%
Total Net Non-Operations (92,725,135) (1,682,473) (9,259,777) (91,731,252) 82,471,474 10.09%
Excess (Deficiency) of Total
Revenue over Total
Requirements
(66,052,052) (2,811,434) 33,541,033 (60,193,318) 93,734,351 -55.72%
12
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Ending Fund Balance 26,087,321 (2,811,434) 125,680,406 31,946,055 93,734,351 393.41%
Reserves
Contingency Reserve 9,480,045 - 9,480,045 9,480,045 0 0.00%
Non-Operating Contingency 10,000,000 - 10,000,000 10,000,000 0 0.00%
Total Reserved Fund
Balance
19,480,045 - 19,480,045 19,480,045 0 0.00%
Available Fund Balance 6,607,276 (2,811,434) 106,200,361 12,466,010 93,734,351 851.92%
13
COG - Joint Services Fund Financial Report
Period FY 2020 - Sep
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 1,415,206 - 1,415,206 1,415,206 - 100.00%
Revenue
Administrative Charges 17,691,145 1,391,067 17,691,145 17,640,111 51,034 100.29%
Interest 25,000 724 20,038 13,000 7,038 154.14%
Other 103,000 101,295 260,960 106,695 154,265 244.58%
Transfers In 313,405 18,346 313,405 331,751 (18,346) 94.47%
Revenue Total 18,132,550 1,511,432 18,285,548 18,091,557 193,991 101.07%
Expense
Accounting 1,128,153 56,598 1,099,921 1,124,962 25,041 97.77%
Business System Services 1,198,892 68,689 1,075,563 1,043,437 (32,126) 103.08%
Citywide HR 1,331,061 65,069 1,001,744 1,087,621 85,877 92.10%
Conservation 894,920 56,806 589,587 731,365 141,779 80.61%
Customer Care 5,115,459 373,699 5,015,939 5,020,817 4,878 99.90%
Economic Development 687,049 27,094 568,546 605,918 37,372 93.83%
Finance Administration 1,050,021 55,503 941,310 963,711 22,401 97.68%
Human Resources 1,447,934 120,551 1,320,294 1,320,069 (224) 100.02%
Legal 1,063,008 72,396 1,030,141 993,354 (36,787) 103.70%
Non-departmental 741,193 297,012 1,566,958 1,089,171 (477,787) 143.87%
Organizational and
Operational Excellence
329,898 34,849 287,241 299,152 11,911 96.02%
Purchasing 923,989 70,298 877,266 888,375 11,108 98.75%
Systems Engineering 2,565,963 92,425 2,314,004 2,306,340 (7,664) 100.33%
Expense Total 18,477,541 1,390,988 17,688,514 17,474,293 (214,221) 101.23%
Excess (Deficiency) of Total
Revenue over Total
Requirements
(344,991) 120,444 597,034 617,264 (20,230) 96.72%
Ending Fund Balance 1,070,215 120,444 2,012,240 2,032,470 (20,230) 99.00%
Reserves
Contingency Reserve 1,070,215 0 1,070,215 1,070,215 - 0.00%
Total Reserve Balance 1,070,215 0 1,070,215 1,070,215 - 0.00%
Available Fund Balance 0 0 942,025 962,255 (20,230) 97.90%
14
COG - Council Discretionary Fund Financial Report
Period FY 2020 - Sep
Ledger Account Approved Budget Current Period Year to Date
(w/Encumberance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 109,415 - 109,415 109,383 32 100.03%
Revenue
Interest 2,500 41 1,582 1,789 (207)88.42%
Transfers In - - - - 0 0.00%
Revenue Total 2,500 41 1,582 1,789 (207)88.42%
Expense
Transfers Out - - - - 0 0.00%
Expense Total - - - - 0 0.00%
Excess (Deficiency) of Total
Revenue over Total
Requirements
2,500 41 1,582 1,789 (207) 88.42%
Ending Fund Balance 111,915 41 110,997 111,172 (175) 99.84%
Available Fund Balance 111,915 - 110,997 111,172 (175) 99.84%
15
COG - Convention & Visitors Bureau (CVB) Fund Financial Report
Period FY 2020 - Sep
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 1,551,889 - 1,551,889 1,551,889 - 100.00%
Revenue
Hotel/Motel Occupancy Tax
Revenues
1,300,000 151,838 984,751 900,000 84,751 109.42%
Interest 18,000 599 21,323 20,594 729 103.54%
Other 18,500 439 38,792 36,859 1,933 105.24%
Poppy Festival 144,283 (4) 87,577 91,155 (3,578) 96.08%
Revenue Total 1,480,783 152,872 1,132,443 1,048,608 83,835 107.99%
Expense
Operations 798,752 21,724 556,657 771,067 214,410 72.19%
Personnel 413,567 10,441 367,959 374,401 6,442 98.28%
Poppy Festival 211,700 - 55,025 149,478 94,453 36.81%
Transfers Out 28,634 - 28,634 28,634 - 100.00%
Expense Total 1,452,654 32,165 1,008,276 1,323,580 315,304 76.18%
Excess (Deficiency) of Total
Revenue over Total
Requirements
28,129 120,708 124,168 (274,972) 399,139 (45.16%)
Ending Fund Balance 1,580,018 - 1,676,057 1,276,917 399,139 131.26%
Reserves
Contingency Reserve 273,376 - 273,376 273,376 - 0
Capital Reserve 1,203,635 - 1,203,635 1,203,635 - 0
Total Reserved Fund
Balance
1,477,011 - 1,477,011 1,477,011 - 100.00%
Available Fund Balance 103,007 - 199,046 (200,094) 399,139 (99.48%)
16
COG - Airport Operations Fund Financial Report
Period FY2020 ‐ Sep
Ledger Account Approved Budget Current Period Year To Date
(w/Encumbrance)
Year-End Projections Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 1,259,036 - 1,259,036 1,259,036 - 100%
Operating Revenue
Fuel and Terminal Sales 2,901,500 209,614 2,303,549 2,502,000 (198,451) 92%
Interest and Other 51,000 57,479 75,841 52,600 23,241 144%
Grant Revenue ‐ 40,334 40,337 153,000 (112,663) 26%
Leases and Rentals 928,500 78,162 923,593 906,500 17,093 102%
Operating Revenue Total 3,881,000 385,589 3,343,320 3,614,100 (270,780) 93%
Operating Expenditures
Operations-Fuel 2,270,000 162,996 1,756,318 2,200,609 444,291 80%
Operations-Non Fuel 878,327 81,790 780,143 803,487 23,345 97%
Personnel 501,098 27,697 438,514 475,573 37,059 92%
Operating Capital 323,566 88,859 110,461 28,000 (82,461) 395%
Operating Expenditures Total 3,972,991 361,342 3,085,435 3,507,669 422,234 88%
Total Net Operations (91,991) 24,247 257,885 106,431 151,454 242%
Non-Operating Revenue
Bond Proceeds ‐ ‐ ‐ ‐ ‐ 0.00%
Non-Operating Revenue Total ‐ ‐ ‐ ‐ ‐ 0.00%
Non-Operating Expenditures
CIP Expense ‐ ‐ ‐ ‐ ‐ 0.00%
Debt Service 101,358 ‐ 86,500 86,358 (142) 99.84%
Interest Expense 60,062 2,470 60,062 60,062 (0) 100.00%
Non-Operating Expenditure Total 161,420 2,470 146,562 146,420 (142) 99.90%
Total Net Non-Operations (161,420) (2,470) (146,562) (146,420) (142) 100%
Excess (Deficiency) of Total Revenue over
Total Requirements
(253,411) 21,777 111,323 (39,989) 151,312 ‐278%
Ending Fund Balance 1,005,625 21,777 1,370,359 1,219,047 151,312 112.41%
Reserves
Contingency Reserve 256,021 ‐ 256,021 256,021 ‐ 0.00%
Debt Service Reserve 143,431 ‐ 143,431 143,431 ‐ 0.00%
Total Reserved Fund Balance 399,452 ‐ 399,452 399,452 ‐ 0.00%
Available Fund Balance 606,173 21,777 970,907 819,595 151,312 118.46%
17
COG - Georgetown Transportation Enchancement Corporation (GTEC) Fund Financial Report
Period FY2020 - SEP
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 21,649,668 - 21,649,668 21,649,668 - 100.00%
Operating Revenue
Sales Tax 7,937,500 2,288,300 8,491,326 7,975,000 516,326 106.47%
Interest 230,000 3,816 272,223 225,000 47,223 120.99%
Other Revenue - - - - - 0.00%
Operating Revenue Total 8,167,500 2,292,116 8,763,548 8,200,000 563,548 106.87%
Operating Expenditures
Administrative Support 410,223 34,119 409,806 410,223 417 99.90%
Operating Expenditures
Total
410,223 34,119 409,806 410,223 417 99.90%
Total Net Operations 7,757,277 2,257,997 8,353,742 7,789,777 563,965 107.24%
Non-Operating Revenue
Bond Proceeds 4,700,000 - 4,740,000 4,700,000 40,000 100.85%
Transfers In - - - - - 0.00%
Non-Operating Revenue
Total
4,700,000 - 4,740,000 4,700,000 40,000 100.85%
Non-Operating
Expenditure
Economic Development
Agreements
1,984,375 - - - - 0.00%
Strategic Partnerships 2,000,000 - - 2,000,000 2,000,000 0.00%
CIP Expense 15,259,855 14,602 431,251 15,259,855 14,828,605 2.83%
Debt Service 3,333,921 - 3,282,461 3,333,921 51,460 98.46%
Non-Operating Expenditure
Total
22,578,151 14,602 3,713,712 20,593,776 16,880,064 18.03%
Total Net Non-Operations (17,878,151) (14,602) 1,026,288 (15,893,776) 16,920,064 (6.46%)
Excess (Deficiency) of Total
Revenue over Total
Requirements
(10,120,874) 2,243,396 9,380,031 (8,103,999) 17,484,030 (115.75%)
Ending Fund Balance 11,528,794 2,243,396 31,029,699 13,545,669 17,484,030 229.07%
18
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Reserves
Contingency Reserve 1,984,375 - 1,984,375 1,984,375 - 0.00%
Debt Service Reserve 3,225,642 - 3,225,642 3,225,642 - 0.00%
Total Reserved Fund
Balance
5,210,017 - 5,210,017 5,210,017 - 0.00%
Available Fund Balance 6,318,777 - 25,819,682 8,335,652 17,484,030 309.75%
19
COG - Georgetown Economic Development Corporation (GEDCO) Fund Financial Report
Period FY2020 - Sep
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Beginning Fund Balance 8,138,781 - 8,138,781 8,138,781 - 100.00%
Operating Revenue
Interest 76,000 1,300 98,282 85,020 13,262 115.60%
Sales Tax 1,984,375 572,075 2,122,831 1,993,750 129,081 106.47%
Other Revenue - - - - - 0.00%
Operating Revenue Total 2,060,375 573,375 2,221,114 2,078,770 142,344 106.85%
Operating Expenditures
Miscellaneous Expense 295,173 - - - - 0.00%
Promotional & Marketing
Program
3,361 6,146 68,778 100,000 31,222 68.78%
Contractual Services 30,000 10,000 27,587 15,123 (12,464) 182.41%
Administrative Expenses 244,771 20,398 244,771 244,771 0 100.00%
Travel & Training 500 - 92 - (92) 0.00%
Supplies - - - - - 0.00%
Operating Expenditures
Total
573,805 36,544 341,227 359,894 18,667 94.81%
Total Net Operations 1,486,570 536,831 1,879,887 1,718,876 161,011 109.37%
Non-Operating Revenue
Bond Proceeds - - - - - 0.00%
Bond Premium - - - - - 0.00%
Transfers In - - - - - 0.00%
Non-Operating Revenue
Total
- - - - - 0.00%
Non-Operating
Expenditures
Principal Reduction 83,695 83,695 83,695 83,695 - 100.00%
Debt Service 207,669 - 207,789 207,669 (120) 100.06%
Interest Expense 20,516 20,516 20,516 20,516 - 100.00%
Strategic Partnership 8,613,855 - 804,551 700,000 (104,551) 114.94%
Non-Operating
Expenditures Total
8,925,735 104,211 1,116,551 1,011,880 (104,671) 110.34%
Total Net Non-Operations (8,925,735) (104,211) (1,116,551) (1,011,880) (104,671) 110.34%
Excess (Deficiency) of Total
Revenue over Total
Requirements
(7,439,165) 432,620 763,335 706,996 56,339 107.97%
Ending Fund Balance 699,616 432,620 8,902,116 8,845,777 56,339 100.64%
20
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection Year-End Variance
Fav/(Unfav)
% of Projection
Reserves
Contingency Reserve 489,298 - 489,298 489,298 - 0.00%
Non-Operational Reserve 210,318 - 210,318 210,318 - 0.00%
Bond Proceeds Reserve - - - - - 0.00%
Total Reserved Fund
Balance
699,616 - 699,616 699,616 - 0.00%
Available Fund Balance 0 8,202,500 8,146,161 56,339 100.69%
21
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Demand Accounts 0.52%6,140,421$ 6,140,421$ 0.26%9,505,298$ 9,505,298$
NOW/MMA 2.21%20,080,071 20,080,071 0.87%15,087,991 15,087,991
Pools 2.12%80,054,900 80,054,900 0.14%103,065,896 103,065,896
CDs/Securities 2.65%72,607,471 72,611,429 0.89%112,639,369 112,640,201
Totals 178,882,862$ 178,886,821$ 240,298,554$ 240,299,385$
Fourth Quarter-End Yield 2.29%0.54%
Average Quarter-End Yields (1):
2019 Fiscal Year 2020 Fiscal Year
Georgetown-City 2.36%1.15%
Rolling Three Month Treasury 2.30%0.76%
Rolling Six Month Treasury 2.37%0.99%
TexPool 2.31%0.75%
(1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2019
Annual Comparison of Portfolio Performance
September 30, 2020
Valley View Consulting, L.L.C.23
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Demand Accounts 9,511,536$ 9,511,536 9,505,298$ 9,505,298$ 0.26%
NOW/MMA 21,787,639 21,787,639 15,087,991 15,087,991 0.87%
Pools 135,563,839 135,563,839 103,065,896 103,065,896 0.14%
CDs/Securities 83,129,298 83,138,997 112,639,369 112,640,201 0.89%
Totals 249,992,313$ 250,002,012$ 240,298,554$ 240,299,385$ 0.54%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.54%Total Portfolio 1.15%
Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76%
Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99%
TexPool 0.15%TexPool 0.75%
Bank Fees Offset
5,077$
Interest income provided in separate report.30,413$
June 30, 2020
(1)Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2)Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
Quarterly Bank Fees Offset
Year-to-date Bank Fees Offset
September 30, 2020
Valley View Consulting, L.L.C.24
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
JPMorgan Chase Cash (3)0.26%10/01/20 09/30/20 9,505,298$ 9,505,298$ 1.00 9,505,298$ 1 0.26%
JPMorgan Chase MMA 0.05%10/01/20 09/30/20 433,983 433,983 1.00 433,983 1 0.05%
Veritex Bank MMA 0.20%10/01/20 09/30/20 3,210,906 3,210,906 1.00 3,210,906 1 0.20%
NexBank MMA 0.45%10/01/20 09/30/20 7,355,685 7,355,685 1.00 7,355,685 1 0.45%
Origin Bank MMA 2.25%10/01/20 09/30/20 4,087,417 4,087,417 1.00 4,087,417 1 2.25%
TexPool AAAm 0.15%10/01/20 09/30/20 28,793,102 28,793,102 1.00 28,793,102 1 0.15%
TexSTAR AAAm 0.13%10/01/20 09/30/20 74,272,794 74,272,794 1.00 74,272,794 1 0.13%
T-Bill Aaa/AA+0.00%10/08/20 10/17/19 2,500,000 2,499,139 99.999 2,499,970 8 1.60%
Independent Bank CD 1.85%10/18/20 10/18/19 2,534,811 2,534,811 100.00 2,534,811 18 1.86%
East West Bank CD 0.55%11/09/20 05/08/20 3,006,607 3,006,607 100.00 3,006,607 40 0.55%
Independent Bank CD 2.56%11/10/20 05/10/19 1,032,494 1,032,494 100.00 1,032,494 41 2.58%
R Bank CD 1.76%11/19/20 02/19/20 2,521,930 2,521,930 100.00 2,521,930 50 1.78%
Southside Bank CD 1.72%11/19/20 11/19/19 3,258,686 3,258,686 100.00 3,258,686 50 1.73%
East West Bank CD 1.71%12/09/20 12/09/19 4,056,045 4,056,045 100.00 4,056,045 70 1.72%
East West Bank CD 1.71%01/08/21 01/08/20 3,037,761 3,037,761 100.00 3,037,761 100 1.72%
Independent Bank CD 1.70%02/05/21 02/05/20 3,126,261 3,126,261 100.00 3,126,261 128 1.71%
Independent Bank CD 0.60%02/08/21 05/08/20 11,016,636 11,016,636 100.00 11,016,636 131 0.60%
East West Bank CD 0.32%02/18/21 08/18/20 9,003,472 9,003,472 100.00 9,003,472 141 0.32%
R Bank CD 1.81%02/19/21 02/19/20 4,036,263 4,036,263 100.00 4,036,263 142 1.83%
Bank OZK CD 1.72%02/26/21 02/27/20 6,060,233 6,060,233 100.00 6,060,233 149 1.73%
Southside Bank CD 0.21%03/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 162 0.21%
Bank OZK CD 0.25%03/11/21 09/11/20 1,500,000 1,500,000 100.00 1,500,000 162 0.25%
East West Bank CD 0.29%03/15/21 09/14/20 3,500,473 3,500,473 100.00 3,500,473 166 0.29%
Prosperity Bank CD 0.45%04/01/21 07/01/20 4,004,525 4,004,525 100.00 4,004,525 183 0.45%
Independent Bank CD 1.80%04/22/21 10/22/19 4,155,537 4,155,537 100.00 4,155,537 204 1.81%
Bank OZK CD 0.70%05/10/21 05/08/20 12,028,372 12,028,372 100.00 12,028,372 222 0.70%
Southside Bank CD 0.22%06/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 254 0.22%
Bank OZK CD 0.30%06/11/21 09/11/20 5,000,000 5,000,000 100.00 5,000,000 254 0.30%
Prosperity Bank CD 0.60%07/01/21 07/01/20 4,006,033 4,006,033 100.00 4,006,033 274 0.60%
Prosperity Bank CD 0.70%07/15/21 07/15/20 5,007,459 5,007,459 100.00 5,007,459 288 0.70%
East West Bank CD 0.32%08/18/21 08/18/20 2,000,772 2,000,772 100.00 2,000,772 322 0.32%
Prosperity Bank CD 0.40%08/23/21 08/21/20 6,245,860 6,245,860 100.00 6,245,860 327 0.40%
TOTALS 240,299,415$ 240,298,554$ 240,299,385$ 81 0.54%
(1)(2)
September 30, 2020
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.
(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.
(3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees.
Valley View Consulting, L.L.C.26
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,505,298$ 9,505,298$ –$ –$ –$ –$
JPMorgan Chase MMA 433,983 433,983 – – – –
Veritex Bank MMA 3,210,906 3,210,906 – – – –
NexBank MMA 7,355,685 7,355,685 – – – –
Origin Bank MMA 4,087,417 1,025,806 – – – –
TexPool 28,793,102 28,793,102 – – – –
TexSTAR 74,272,794 9,714,325 584,095 2,180,032 137,262 111,001
T-Bill 10/08/20 2,499,139 2,499,139 – – – –
Independent Bank CD 10/18/20 2,534,811 2,534,811 – – – –
East West Bank CD 11/09/20 3,006,607 3,006,607 – – – –
Independent Bank CD 11/10/20 1,032,494 1,032,494 – – – –
R Bank CD 11/19/20 2,521,930 2,521,930 – – – –
Southside Bank CD 11/19/20 3,258,686 3,258,686 – – – –
East West Bank CD 12/09/20 4,056,045 4,056,045 – – – –
East West Bank CD 01/08/21 3,037,761 3,037,761 – – – –
Independent Bank CD 02/05/21 3,126,261 3,126,261 – – – –
Independent Bank CD 02/08/21 11,016,636 8,012,099 – – – –
East West Bank CD 02/18/21 9,003,472 3,001,157 – – – –
R Bank CD 02/19/21 4,036,263 4,036,263 – – – –
Bank OZK CD 02/26/21 6,060,233 6,060,233 – – – –
Southside Bank CD 03/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 03/11/21 1,500,000 1,500,000 – – – –
East West Bank CD 03/15/21 3,500,473 3,500,473 – – – –
Prosperity Bank CD 04/01/21 4,004,525 4,004,525 – – – –
Independent Bank CD 04/22/21 4,155,537 4,155,537 – – – –
Bank OZK CD 05/10/21 12,028,372 10,023,644 – – – –
Southside Bank CD 06/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 06/11/21 5,000,000 5,000,000 – – – –
Prosperity Bank CD 07/01/21 4,006,033 4,006,033 – – – –
Prosperity Bank CD 07/15/21 5,007,459 5,007,459 – – – –
East West Bank CD 08/18/21 2,000,772 – – – – –
Prosperity Bank CD 08/23/21 6,245,860 6,245,860 – – – –
Totals 240,298,554$ 159,666,122$ 584,095$ 2,180,032$ 137,262$ 111,001$
Book Value
September 30, 2020
Valley View Consulting, L.L.C.29
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021 1,531,341 68,584 1,451,130 1,503,917 318,392 178,392
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021$ 1,531,341$ 68,584$ 1,451,130$ 1,503,917$ 318,392$ 178,392$
Valley View Consulting, L.L.C.30
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,009,942 – – – –
– – – – – – –
- 97,352 3,839,337 56,681 672,097 497,544 11,241,692
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,004,537 – – – –
– – 3,001,157 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,004,729 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
-$ 97,352$ 12,859,703$ 56,681$ 672,097$ 497,544$ 11,241,692$
Valley View Consulting, L.L.C.31
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
2,051,669 – – – – – –
– – – – – – –
2,645,268 113,926 2,003,965 2,603,558 650,415 8,955,332 3,501,541
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
3,001,157 – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,000,772 – – – –
– – – – – – –
7,698,094$ 113,926$ 4,004,737$ 2,603,558$ 650,415$ 8,955,332$ 3,501,541$
Valley View Consulting, L.L.C.32
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
Book Value
September 30, 2020
(Continued)
2020
Revenue-
Water/WW
Electric-LCRA
Transformers
–$ –$
– –
– –
– –
– –
– –
7,447,141 9,660,452
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
7,447,141$ 9,660,452$
Valley View Consulting, L.L.C.33
City - Allocation
September 30, 2020
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,505,298$ 9,505,298$ –$ –$ –$ –$
JPMorgan Chase MMA 433,983 433,983 – – – –
Veritex Bank MMA 3,210,906 3,210,906 – – – –
NexBank MMA 7,355,685 7,355,685 – – – –
Origin Bank MMA 4,087,417 1,025,806 – – – –
TexPool 28,793,102 28,793,102 – – – –
TexSTAR 74,272,794 9,714,325 584,095 2,180,032 137,262 111,001
T-Bill 10/08/20 2,499,970 2,499,970 – – – –
Independent Bank CD 10/18/20 2,534,811 2,534,811 – – – –
East West Bank CD 11/09/20 3,006,607 3,006,607 – – – –
Independent Bank CD 11/10/20 1,032,494 1,032,494 – – – –
R Bank CD 11/19/20 2,521,930 2,521,930 – – – –
Southside Bank CD 11/19/20 3,258,686 3,258,686 – – – –
East West Bank CD 12/09/20 4,056,045 4,056,045 – – – –
East West Bank CD 01/08/21 3,037,761 3,037,761 – – – –
Independent Bank CD 02/05/21 3,126,261 3,126,261 – – – –
Independent Bank CD 02/08/21 11,016,636 8,012,099 – – – –
East West Bank CD 02/18/21 9,003,472 3,001,157 – – – –
R Bank CD 02/19/21 4,036,263 4,036,263 – – – –
Bank OZK CD 02/26/21 6,060,233 6,060,233 – – – –
Southside Bank CD 03/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 03/11/21 1,500,000 1,500,000 – – – –
East West Bank CD 03/15/21 3,500,473 3,500,473 – – – –
Prosperity Bank CD 04/01/21 4,004,525 4,004,525 – – – –
Independent Bank CD 04/22/21 4,155,537 4,155,537 – – – –
Bank OZK CD 05/10/21 12,028,372 10,023,644 – – – –
Southside Bank CD 06/11/21 5,000,000 5,000,000 – – – –
Bank OZK CD 06/11/21 5,000,000 5,000,000 – – – –
Prosperity Bank CD 07/01/21 4,006,033 4,006,033 – – – –
Prosperity Bank CD 07/15/21 5,007,459 5,007,459 – – – –
East West Bank CD 08/18/21 2,000,772 – – – – –
Prosperity Bank CD 08/23/21 6,245,860 6,245,860 – – – –
Totals 240,299,385$ 159,666,953$ 584,095$ 2,180,032$ 137,262$ 111,001$
Valley View Consulting, L.L.C.34
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021 1,531,341 68,584 1,451,130 1,503,917 318,392 178,392
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,508,021$ 1,531,341$ 68,584$ 1,451,130$ 1,503,917$ 318,392$ 178,392$
Valley View Consulting, L.L.C.35
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,009,942 – – – –
– – – – – – –
-97,352 3,839,337 56,681 672,097 497,544 11,241,692
– – – – – – –
– – – – – – –
– – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,004,537 – – – –
– – 3,001,157 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,004,729 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
–$ 97,352$ 12,859,703$ 56,681$ 672,097$ 497,544$ 11,241,692$
Valley View Consulting, L.L.C.36
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
2,051,669 – – – – – –
– – – – – – –
2,645,268 113,926 2,003,965 2,603,558 650,415 8,955,332 3,501,541
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
3,001,157 – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,000,772 – – – –
– – – – – – –
7,698,094$ 113,926$ 4,004,737$ 2,603,558$ 650,415$ 8,955,332$ 3,501,541$
Valley View Consulting, L.L.C.37
City - Allocation
September 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
East West Bank CD 02/18/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Southside Bank CD 03/11/21
Bank OZK CD 03/11/21
East West Bank CD 03/15/21
Prosperity Bank CD 04/01/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Southside Bank CD 06/11/21
Bank OZK CD 06/11/21
Prosperity Bank CD 07/01/21
Prosperity Bank CD 07/15/21
East West Bank CD 08/18/21
Prosperity Bank CD 08/23/21
Totals
(Continued)
2020
Revenue-
Water/WW
Electric-LCRA
Transformers
–$ –$
– –
– –
– –
– –
– –
7,447,141 9,660,452
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
7,447,141$ 9,660,452$
Valley View Consulting, L.L.C.38
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$
JPMorgan Chase MMA 433,929 433,929 – – – –
Veritex Bank MMA 3,208,928 3,208,928 – – – –
NexBank MMA 7,346,749 7,346,749 – – – –
Origin Bank MMA 10,798,033 4,080,098 – – – –
TexPool 45,475,841 45,475,841 – – – –
TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153
East West Bank CD 07/15/20 5,152,781 5,152,781 – – – –
East West Bank CD 08/04/20 6,546,565 – – – – –
R Bank CD 08/16/20 2,031,778 – – – – –
R Bank CD 08/16/20 1,013,818 – – – – –
Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – –
T-Bill 10/08/20 2,489,236 2,489,236 – – – –
Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – –
East West Bank CD 11/09/20 3,002,442 3,002,442 – – – –
Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – –
R Bank CD 11/19/20 2,510,767 2,510,767 – – – –
Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – –
East West Bank CD 12/09/20 4,038,601 4,038,601 – – – –
East West Bank CD 01/08/21 3,024,696 3,024,696 – – – –
Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – –
Independent Bank CD 02/08/21 11,000,000 8,000,000 – – – –
R Bank CD 02/19/21 4,017,891 4,017,891 – – – –
Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – –
Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – –
Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – –
Totals 249,992,313$ 148,650,451$ 583,850$ 16,567,129$ 137,205$ 311,153$
June 30, 2020
Book Value
Valley View Consulting, L.L.C.39
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436 182,203
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$ 182,203$
Valley View Consulting, L.L.C.40
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,005,754 – – – –
– – – – – – –
380,642 97,311 5,922,590 56,657 924,743 560,262 11,613,036
– – – – – – –
– – – – – – 2,014,063
– – 2,031,778 – – – –
– – 1,013,818 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,000,000 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,001,191 – – – –
380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$ 560,262$ 13,627,099$
Valley View Consulting, L.L.C.41
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
4,743,154 – 969,028 – – – –
– – – – – – –
2,607,390 439,319 2,472,153 5,767,255 650,141 9,001,959 5,011,090
– – – – – – –
3,514,104 – 1,018,398 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$ 9,001,959$ 5,011,090$
Valley View Consulting, L.L.C.42
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
June 30, 2020
Book Value
(Continued)
2020
Revenue-
Water/WW
–$
–
–
–
–
–
9,302,024
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
9,302,024$
Valley View Consulting, L.L.C.43
City - Allocation
June 30, 2020
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$
JPMorgan Chase MMA 433,929 433,929 – – – –
Veritex Bank MMA 3,208,928 3,208,928 – – – –
NexBank MMA 7,346,749 7,346,749 – – – –
Origin Bank MMA 10,798,033 4,080,098 – – – –
TexPool 45,475,841 45,475,841 – – – –
TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153
East West Bank CD 07/15/20 5,152,781 5,152,781 – – – –
East West Bank CD 08/04/20 6,546,565 – – – – –
R Bank CD 08/16/20 2,031,778 – – – – –
R Bank CD 08/16/20 1,013,818 – – – – –
Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – –
T-Bill 10/08/20 2,498,935 2,498,935 – – – –
Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – –
East West Bank CD 11/09/20 6,002,442 3,002,442 – – – –
Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – –
R Bank CD 11/19/20 2,510,767 2,510,767 – – – –
Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – –
East West Bank CD 12/09/20 4,038,601 4,038,601 – – – –
East West Bank CD 01/08/21 3,024,696 3,024,696 – – – –
Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – –
Independent Bank CD 02/08/21 8,000,000 8,000,000 – – – –
R Bank CD 02/19/21 4,017,891 4,017,891 – – – –
Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – –
Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – –
Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – –
Totals 250,002,012$ 148,660,149$ 583,850$ 16,567,129$ 137,205$ 311,153$
Valley View Consulting, L.L.C.44
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436 182,203
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$ 182,203$
Valley View Consulting, L.L.C.45
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 1,005,754 – – – –
– – – – – – –
380,642 97,311 5,922,590 56,657 924,743 560,262 11,613,036
– – – – – – –
– – – – – – 2,014,063
– – 2,031,778 – – – –
– – 1,013,818 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 3,000,000 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – 2,001,191 – – – –
380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$ 560,262$ 13,627,099$
Valley View Consulting, L.L.C.46
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Electric
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
4,743,154 – 969,028 – – – –
– – – – – – –
2,607,390 439,319 2,472,153 5,767,255 650,141 9,001,959 5,011,090
– – – – – – –
3,514,104 – 1,018,398 – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$ 9,001,959$ 5,011,090$
Valley View Consulting, L.L.C.47
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2020
Revenue-
Water/WW
–$
–
–
–
–
–
9,302,024
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
–
9,302,024$
Valley View Consulting, L.L.C.48
Georgetown Transportation Enhancement Corporation (GTEC)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2020
Prepared by
Valley View Consulting, L.L.C.
The investment portfolio of the Georgetown Transportation Enhancement Corporation (GTEC) is in compliance with the
Texas Public Funds Investment Act and the Investment Policy and Strategies.
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.
49
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Pools/MMAs 2.17%15,333,145$ 15,333,145$ 0.15%26,283,802$ 26,283,802$
Certificates of Deposit 2.71%5,218,739 5,218,739 0.40%3,001,377 3,001,377
Totals 20,551,884$ 20,551,884$ 29,285,179$ 29,285,179$
Fourth Quarter-End Yield 2.31%0.17%
Average Quarter-End Yields (1):
2019 Fiscal Year 2020 Fiscal Year
GTEC 2.38%0.97%
Rolling Three Month Treasury 2.30%0.76%
Rolling Six Month Treasury 2.37%0.99%
TexPool 2.31%0.76%
(1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
Annual Comparison of Portfolio Performance
September 30, 2019 September 30, 2020
Valley View Consulting, L.L.C.50
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Pools/MMAs 26,000,055$ 26,000,055$ 26,283,802$ 26,283,802$ 0.15%
CDs/Securities 3,222,395 3,222,395 3,001,377 3,001,377 0.40%
Totals 29,222,450$ 29,222,450$ 29,285,179$ 29,285,179$ 0.17%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.17%Total Portfolio 0.97%
Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76%
Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99%
TexPool 0.15%TexPool 0.76%
Interest data provided in separate report.
June 30, 2020
(1)Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2)Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total
return analysis or account for advisory fees.
September 30, 2020
Valley View Consulting, L.L.C.
51
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
TexPool AAAm 0.15%10/01/20 09/30/20 10,744,412$ 10,744,412$ 1.00 10,744,412$ 1 0.15%
TexSTAR AAAm 0.13%10/01/20 09/30/20 12,852,913 12,852,913 1.00 12,852,913 1 0.13%
Veritex Bank MMA 0.20%10/01/20 09/30/20 2,686,477 2,686,477 1.00 2,686,477 1 0.20%
Prosperity Bank CD 0.40%08/23/21 08/21/20 3,001,377 3,001,377 100.00 3,001,377 327 0.40%
TOTALS 29,285,179$ 29,285,179$ 29,285,179$ 34 0.17%
(1)(2)
September 30, 2020
(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.
Valley View Consulting, L.L.C.53
Georgetown Economic Development Corporation (GEDCO)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2020
Prepared by
Valley View Consulting, L.L.C.
The investment portfolio of the Georgetown Economic Development Corporation (GEDCO) is in compliance with the
Texas Public Funds Investment Act and the Investment Policy and Strategies.
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.
56
Annual Comparison of Portfolio Performance
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Demand Accounts 2.25%2,106,292$ 2,106,292$ 0.20%2,129,054$ 2,129,054$
Pools 2.12%6,142,598 6,142,598 0.14%5,746,114 5,746,114
Certificates of Deposit 0.00%– – 1.70%2,016,943 2,016,943
Totals 8,248,890$ 8,248,890$ 9,892,111$ 9,892,111$
Fourth Quarter-End Yield 2.15%0.47%
Average Quarter-End Yields (1):
2019 Fiscal Year 2020 Fiscal Year
GEDCO 2.34%0.98%
Rolling Three Month Treasury 2.30%0.76%
Rolling Six Month Treasury 2.37%0.99%
TexPool 2.31%0.75%
(1)Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2019 September 30, 2020
Valley View Consulting, L.L.C.57
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,127,743$ 2,127,743$ 2,129,054$ 2,129,054$ 0.20%
Pools 5,210,899 5,210,899 5,746,114 5,746,114 0.14%
Certificates of Deposit 2,008,361 2,008,361 2,016,943 2,016,943 1.70%
9,347,002$ 9,347,002$ 9,892,111$ 9,892,111$ 0.47%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.47%Total Portfolio 0.98%
Rolling Three Month Treasury 0.12%Rolling Three Month Treasury 0.76%
Rolling Six Month Treasury 0.15%Rolling Six Month Treasury 0.99%
TexPool 0.15%TexPool 0.75%
Interest income provided in separate report.
June 30, 2020
(1)Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2)Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
September 30, 2020
Valley View Consulting, L.L.C.
58
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
Veritex Bank MMA 0.20%10/01/20 09/30/20 2,129,054$ 2,129,054$ 1.00 2,129,054$ 1 0.20%
TexasDAILY AAAm 0.14%10/01/20 09/30/20 2,124,759 2,124,759 1.00 2,124,759 1 0.14%
TexSTAR AAAm 0.13%10/01/20 09/30/20 3,621,355 3,621,355 1.00 3,621,355 1 0.13%
Independent Bank 1.70%02/05/21 02/05/20 2,016,943 2,016,943 100.00 2,016,943 128 1.70%
9,892,111$ 9,892,111$ 9,892,111$ 27 0.47%
(1)(2)
September 30, 2020
(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees
are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.
Valley View Consulting, L.L.C.60
Public Works Texas Department of
Transportation
CSJ-0914-05-200,201,202 Highway Planning &
Construction (Williams Dr
Corridor)
- -
Parks Federal Highway
Administration
RT017010 Recreation San Gabriel Trails $ 461,345.71 200,000.00
64
Capital Improvement Projects Report, Life-to-Date Budget and Spend
Row Labels Total Budget Total Spend Remaining Budget Percent Remaining
CDBG
CDBG
PRJ000003 17th Street 193,000 167,777 25,223 13.07%
CDBG Total 193,000 167,777 25,223 13.07%
CDBG Total 193,000 167,777 25,223 13.07%
CIP Street Maintenance
Public Works Department
PRJ000013 Austin Avenue Bridge 2,855,398 1,729,082 1,126,316 39.45%
PRJ000172 2020 Street Maintenance High Performance Seal: Bid Package No.1 372,200 287,620 84,580 22.72%
PRJ000173 2020 Street Maintenance High Performance Seal: Bid Package No. 2 463,195 482,214 (19,020) -4.11%
PRJ000174 2020 street maintenance HIPR 1,935,589 1,118,283 817,306 42.23%
PRJ000210 2021 HIPR Street Maintenance 2,300,000 -2,300,000 100.00%
PRJ000211 2021 High Performance Pavement Seal Project #1 600,000 -600,000 100.00%
PRJ000212 2021 High Performance Pavement Seal Project #2 600,000 -600,000 100.00%
Public Works Department Total 9,126,381 3,617,199 5,509,182 400.29%
CIP Street Maintenance Total 9,126,381 3,617,199 5,509,182 400.29%
Downtown TIRZ
Parks
PRJ000050 Grace Heritage Plaza 139,100 45,900 93,200 67.00%
Parks Total 139,100 45,900 93,200 67.00%
Downtown TIRZ Total 139,100 45,900 93,200 67.00%
Electric
Electric
PRJ000022 Consultant Engineering 150,000 21,352 128,648 85.77%
PRJ000026 Db Wood_Sh29 Intersection 240,000 288,822 (48,822) -20.34%
PRJ000036 Electrical System Improvement 100,000 57 99,943 99.94%
PRJ000040 Fiber Optic 50,000 19,516 30,484 60.97%
PRJ000062 New Development Projects 3,260,000 3,842,269 (582,269) -17.86%
PRJ000073 Power Quality Improvements 50,000 -50,000 100.00%
PRJ000095 Shell Road Feeders 160,000 163,280 (3,280) -2.05%
PRJ000147 Sectionalization Improvements 100,000 -100,000 100.00%
PRJ000175 I-35 Mobility Project TxDot 200,000 62,519 137,481 68.74%
PRJ000189 Ronald Reagan - Glasscock Feeder Extension along Hwy 195 -Phase I & II 560,000 -560,000 100.00%
Electric Total 4,870,000 4,397,815 472,185 575.16%
Electric Total 4,870,000 4,397,815 472,185 575.16%
65
Capital Improvement Projects Report, Life-to-Date Budget and Spend
Row Labels Total Budget Total Spend Remaining Budget Percent Remaining
GCP
Environmental Services
PRJ000116 Transfer Station 5,528,786 671,781 4,857,005 87.85%
Environmental Services Total 5,528,786 671,781 4,857,005 87.85%
Finance
PRJ000038 ERP Project 6,216,384 5,618,293 598,091 9.62%
Finance Total 6,216,384 5,618,293 598,091 9.62%
Fire
PRJ000134 SCBA Replacement 880,000 -880,000 100.00%
PRJ000135 Cardiac Monitors 483,517 -483,517 100.00%
Fire Total 1,363,517 -1,363,517 200.00%
Fleet
PRJ000124 Radio Replacement 129,000 -129,000 100.00%
Fleet Total 129,000 -129,000 100.00%
GTEC Department
PRJ000203 FM1460 Widening 20,000 -20,000 100.00%
PRJ000206 NB Front Rd (2338 To Lakeway)216,000 221,766 (5,766) -2.67%
GTEC Department Total 236,000 221,766 14,234 97.33%
Management Services
PRJ000028 Downtown Parking Expansion 728,510 701,947 26,564 3.65%
PRJ000029 Downtown Parking Garage 411,815 114,610 297,205 72.17%
PRJ000033 Dtwn Landsping & Public Art 90,000 5,746 84,254 93.62%
PRJ000037 EOC Siren System 15,525 -15,525 100.00%
PRJ000042 Fire Station 6 5,861,202 5,212,806 648,396 11.06%
PRJ000043 Fire Station 7 6,747,260 6,282,255 465,005 6.89%
PRJ000067 Parking Improvements 68,510 -68,510 100.00%
PRJ000131 Fuel Station 1,100,000 -1,100,000 100.00%
PRJ000136 GMC Remodel Phase I 250,000 -250,000 100.00%
PRJ000180 Recreation Center Natatorium HVAC Replacement 800,000 -800,000 100.00%
Management Services Total 16,072,822 12,317,364 3,755,458 687.39%
66
Capital Improvement Projects Report, Life-to-Date Budget and Spend
Row Labels Total Budget Total Spend Remaining Budget Percent Remaining
Parks
PRJ000048 Garey Park 15,344,472 15,091,857 252,615 1.65%
PRJ000055 Katy Crossing Trail 700,000 - 700,000 100.00%
PRJ000089 San Gabriel Park Improvement 13,025,000 7,332,849 5,692,151 43.70%
PRJ000125 Parks Master Plan 200,000 - 200,000 100.00%
PRJ000126 Regional Trail Development 128,600 6,659 121,941 94.82%
PRJ000127 Neighborhood Park Development 1,250,000 193,397 1,056,603 84.53%
PRJ000129 Ada Transition Plan 900,405 275,982 624,423 69.35%
PRJ000130 Tennis Center Pool Demo 70,000 - 70,000 100.00%
PRJ000205 Katy Crossing Trail 700,000 500,181 199,819 28.55%
Parks Total 32,318,477 23,400,924 8,917,553 622.59%
Police
PRJ000133 Body Cameras 802,000 737,412 64,588 8.05%
Police Total 802,000 737,412 64,588 8.05%
Public Works - Self Managed Department
PRJ000204 Historic District Street Signs 26,000 - 26,000 100.00%
Public Works - Self Managed Department Total 26,000 - 26,000 100.00%
Public Works Department
PRJ000137 Intersection Improvements (Lakeway @ Williams Drive) 1,400,000 121,600 1,278,400 91.31%
PRJ000138 Downtown Sidewalks 1,000,000 428,034 571,966 57.20%
PRJ000139 Westinghouse - Scenic Lake Traffic Signal 600,000 31,950 568,051 94.68%
PRJ000141 Southwestern Blvd 4,000,000 613,677 3,386,323 84.66%
PRJ000143 Leander Rd(Norwood-Swbypass) 5,538,000 113,462 5,424,539 97.95%
PRJ000171 Shell Rd Sidewalk 229,825 203,755 26,070 11.34%
PRJ000201 Austin Ave. (Sh29-Fm2243) 466,000 466,000 - 0.00%
PRJ000202 FM 971 4,853,000 1,047,014 3,805,986 78.43%
PRJ000207 Northwest Blvd Bridge 11,250,000 6,785,085 4,464,915 39.69%
PRJ000208 Old Town Northeast 1,050,000 905,751 144,249 13.74%
PRJ000209 Southeast Inner Loop 10,521,000 3,931,937 6,589,063 62.63%
PRJ000214 Intersection Improvements (Traffic Signals)1,650,000 - 1,650,000 100.00%
PRJ000215 2021 Intersection Safety Enhancements (RRFB)150,000 - 150,000 100.00%
PRJ000216 FY21 Downtown Sidewalk Improvements 1,000,000 - 1,000,000 100.00%
PRJ000217 SW Bypass - Wolf Ranch Extension 1,000,000 25,627 974,373 97.44%
Public Works Department Total 44,707,825 14,673,892 30,033,933 1029.06%
Right of Way
PRJ000200 Access Rtw To Government Srv 220,000 220,000 - 0.00%
Right of Way Total 220,000 220,000 - 0.00%
GCP Total 107,620,810 57,861,432 49,759,379 2941.89%
67
Capital Improvement Projects Report, Life-to-Date Budget and Spend
Row Labels Total Budget Total Spend Remaining Budget Percent Remaining
General Fund
Right of Way
PRJ000007 Access Rtw To Government Srv 220,000 -220,000 100.00%
Right of Way Total 220,000 -220,000 100.00%
General Fund Total 220,000 -220,000 100.00%
68
Capital Improvement Projects Report, Life-to-Date Budget and Spend
Row Labels Total Budget Total Spend Remaining Budget Percent Remaining
GTEC
GTEC Department
PRJ000046 FM 971/ Fontana (Nw Bridge) 1,209,000 1,193,000 16,000 1.32%
PRJ000053 IH 35/ Hwy 29 Intersection Imp 1,800,000 120,066 1,679,934 93.33%
PRJ000060 Rabbit Hill Road 4,100,000 88,429 4,011,571 97.84%
PRJ000083 Rivery Tia Improvements 1,179,000 1,094,839 84,161 7.14%
PRJ000145 Sh29 Signal And Roadway Improvements 1,595,000 - 1,595,000 100.00%
GTEC Department Total 9,883,000 2,496,335 7,386,665 299.63%
GTEC Total 9,883,000 2,496,335 7,386,665 299.63%
Stormwater
Stormwater
PRJ000004 18th and Hutto Drainage 50,000 5,969 44,031 88.06%
PRJ000005 2nd and Rock Pond 500,000 447,151 52,849 10.57%
PRJ000024 2020 Curb & Gutter 1,055,000 327,047 727,953 69.00%
PRJ000104 Stormwater Infrastructure 347,000 58,948 288,053 83.01%
PRJ000148 Water Quality Ponds 98,000 - 98,000 100.00%
PRJ000149 Drainage Improvement/Flood Mitigation Projects 300,000 - 300,000 100.00%
PRJ000213 2021 Curb & Gutter Project 500,000 - 500,000 100.00%
Stormwater Total 2,850,000 839,115 2,010,885 550.64%
Stormwater Total 2,850,000 839,115 2,010,885 550.64%
Transportation
Public Works Department
PRJ000045 FM 971 2,000 (21,684) 23,684 1184.20%
PRJ000063 Northwest Blvd Bridge 21,743,000 (181,880) 21,924,880 100.84%
PRJ000065 Old Town Northeast 855,021 (19,064) 874,085 102.23%
PRJ000100 Southeast Inner Loop 3,321,000 - 3,321,000 100.00%
Public Works Department Total 25,921,021 (222,628) 26,143,649 1487.27%
Transportation Total 25,921,021 (222,628) 26,143,649 1487.27%
69
Capital Improvement Projects Report, Life-to-Date Budget and Spend
Row Labels Total Budget Total Spend Remaining Budget Percent Remaining
Water
Water
PRJ000014 Berry Creek Inter.49,949,000 94,371 49,854,629 99.81%
PRJ000016 Braun Est 4,750,000 1,194,910 3,555,090 74.84%
PRJ000023 Cr 255 (Wd14-2)1,493,963 -1,493,963 100.00%
PRJ000025 Db Wood/ Pastor 24 Dedicated 5,286,000 423,726 4,862,274 91.98%
PRJ000034 Earz 2,326,000 303,945 2,022,055 86.93%
PRJ000059 LWTP Raw Water Intake Rehab 18,750,000 1,879,144 16,870,856 89.98%
PRJ000066 Park Lift Station & Force Main 3,574,341 683,007 2,891,334 80.89%
PRJ000069 Pecan Branch Ph 2 253,000 232,521 20,479 8.09%
PRJ000075 Pumps & Storage 1,000,000 9,289 990,711 99.07%
PRJ000085 Ronald Reagan/Daniels Mountain 4,400,000 138,046 4,261,954 96.86%
PRJ000087 S. Lake Wtp 2018 6,950,000 -6,950,000 100.00%
PRJ000088 San Gabriel Belt Press and Rehab 3,200,000 2,448,071 751,929 23.50%
PRJ000096 Shell Road Water Line 6,890,000 856,000 6,034,000 87.58%
PRJ000101 Southlake Wtp 100,000,000 460,012 99,539,988 99.54%
PRJ000119 Water Mains 1,637,000 335,744 1,301,256 79.49%
PRJ000123 WW Interceptors 608,431 -608,431 100.00%
PRJ000150 Carriage Oaks Transmission 500,000 -500,000 100.00%
PRJ000151 FY2020 CR262 Waterline 500,000 -500,000 100.00%
PRJ000152 FY2020 Hoover Pump Station 750,000 -750,000 100.00%
PRJ000154 FY2020 Stonewall Ranch Ps Improvements 500,000 -500,000 100.00%
PRJ000155 FY2020 Southside Water Treatment Plant 2,250,000 -2,250,000 100.00%
PRJ000156 FY2020 Gatlin/Teravista Improvements 450,000 -450,000 100.00%
PRJ000157 Leander Interconnect 450,000 32,962 417,038 92.68%
PRJ000158 West loop (H-1A)2,119,000 447,385 1,671,615 78.89%
PRJ000160 FY2020 Round Rock Supply Pump Station And Elevated Storage Tank 9,200,000 455,755 8,744,245 95.05%
PRJ000161 Miscellaneous Line Upgrades 622,000 346,608 275,392 44.28%
PRJ000162 South West Bypass Water (H24-1)2,906,000 1,266,311 1,639,689 56.42%
PRJ000163 Tank Rehabilitation 2,905,000 51,247 2,853,753 98.24%
PRJ000164 Council Chamber Water 423,000 15,960 407,040 96.23%
PRJ000165 San Gabriel Wwtp Rehab 2,500,000 17,045 2,482,955 99.32%
PRJ000167 San Gabriel Inter SGI -2 4,500,000 -4,500,000 100.00%
PRJ000168 WWTP Upgrade 1,150,000 -1,150,000 100.00%
PRJ000177 Northlake WTP Phase IV Expansion 15,000,000 -15,000,000 100.00%
Water Total 257,792,735 11,692,059 246,100,676 2879.66%
Water Total 257,792,735 11,692,059 246,100,676 2879.66%
Grand Total 418,616,047 80,895,004 337,721,044 9314.62%
70
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20
Cemetery Special Revenue
Fund
Currently cemetery operations are self‐funded through plot
sales of approximately $50K per year. The cemetery is
managed through Parks Administration. In 2015, Council
elected to reserve $75,000 annually for future costs
associated with maintaining the property. The General
Fund has made this transfer in since FY 2016.
Depending on the economic impacts of COVID, the General Fund
may not make this transfer in FY2020. Additionally, the FY2021
budget has reduced this transfer.
The general fund transfer for FY2021 was reduced to $35,000.
Unfunded Actuarial Accrued
Liability (UAAL)
Recognizes the outstanding liability for the City’s employee
retirement plan through TMRS. The City contributes
monthly to fund the UAAL, based on an annual percentage
of payroll. Actual % of payroll costs is recognized within
each fund. The UAAL is provided by TMRS and lags one year.
As of 9/30/2019, the net pension liability is $28.8 million and is
81.41% funded. The 2020 total combined contribution rate is
12.26%. This increase is due to a change in the discount rate.
No change. New report not yet released by TMRS.
Other Post Employee Benefits
(OPEB)
While the City has no obligation to offer additional retiree
benefits, retirees are eligible to participate in the City’s
health insurance program. That ability represents a subsidy
that impacts health insurance costs to the City. Retirees pay
their monthly premiums to the self insurance fund, which
then processes their health insurance claims.
OPEB liability as of 9/30/2019 is $3.3 million. This is a combination
of sudden death benefits as well as post‐retirement healthcare.No change.
Compensated Absence
Future costs associated with benefits such as vacation, and
sick leave for City employees. Compensated Absence is
accrued annually to each proprietary fund type on a GAAP
basis and accounted for on the balance sheet of each fund.
For governmental funds (and for budgetary basis), the
expense is recognized when due and payable. The City
keeps a reserve in the General Fund to help offset large
payouts for long‐term employees. The reserve is used as
needed, and annually replenished or increased based on
known risk.
OPEB liability as of 9/30/2019 is $3.3 million. This is a combination
of sudden death benefits as well as post‐retirement healthcare.No change.
Electric Fund Rate Stabilization
Reserve
Intended to mitigate potential rate impacts due to increased
fuel costs or other external factors. The RSR is maintained
within the Electric Fund.
Staff are projecting to sell transformer assets to a third party by the
end of the fiscal year, as well as to make a second installment in the
sale of the fiber asset to the IT Fund. These one‐time influxes of
cash are helping to restore reserves to the fund.
The sale of transformer and fiber assets were booked to the 4th
Quarter. Net Purchased Power also ended the year on budget.
FY2020 ending fund balance is projected to fully fund the 90 day
contingency of $4.1 million, and begin to restore the rate
stabilization reserve.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
9/30/2020
71
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 6/30/20 Status Updates ‐ 9/30/20
Airport Maintenance
Fund on‐going maintenance of the Airport grounds,
runways and taxi ways. Terminal and Tower included in
Facilities ISF. An Airport Master Plan was developed to
address long term capital maintenance project
prioritization.
No change
Staff will be working on three (3) CARES Act purchases: 1)
Emergency Generator, 2) Solar Powered Taxiway lights, and 3)
Cattleguards for the North and South Gates to mitigate willife
entering the airfield. These projects were unfunded, but will be
reimbursed through TxDOT from the CARES Act grant from the FAA.
We are also going to be looking at Land Lease buildings that will be
reverting back to Airport Ownership within the next 5 years. These
reversions will impact the budget bottom line as we will have to do
some maintenance on the buildings. These charges will be off‐set
by the increased revenue from the increased Facility Lease Rates.
Americans with Disabilities Act
(ADA) Compliance Needs
As facilities are built or repurposed, meeting ADA
compliance will be included in Project Costs. Funding for
program expansion will be needed (General Fund sources).
The City has an adopted policy, as required by Federal Law,
that it will make reasonable accommodations and
modifications to ensure that people with disabilities have an
equal opportunity to enjoy its programs, services, and
activities. The City does not maintain a reserve for these
modifications.
No change
Sidewalk Maintenance &
Masterplan
Currently, new sidewalks are built as development occurs.
Repairs are funded as needed or if funding is available,
when major roads are repaired. Useful life of a sidewalk is
estimated at 40 to 50 years. The largest revenue source
comes from the City’s General Fund, but there has been
some debt funding as well.
Old Town NE sidewalk is completed and all punch list items are
done. Project will close out in July.
In design is the Rock Sidewalk/FY20 Downtown ADA Sidewalk
Improvements. This project will construct new and rehab/replace
non‐ADA compliant sidewalks and pedestrian ramps. Project will bid
mid to late November with constrctuion starting after the new year.
Park Equipment Maintenance
& Replacement
Over the past 5 years, funding for Park Maintenance and
Replacement has increased. $200K transfer from General
Fund included in FY2018 budget. Staff has listed all assets &
developed replacement schedule funded by the General
Fund.
Golden Bear Park development is underway and is expected to be
complete in August. The development consists of age appropriate
play equipment, accessible sidewalks, pergola, and landscaping.
(This is a bond funded project)
University Park and Raintree Park equipment and the outdoor pool
slides at the Recreation Center were scheduled to be completed in
FY2020. However, these were deferred due to financial constraints
related to COVID‐19. These deferrals total $290,000. Additionally,
the general fund transfer for FY2021 was reduced from $200,000 to
$50,000. Scheduled maintenance equipment and replacement
projects for FY2021 total $402,000 not including the FY2021
deferrals. Staff has evaluated the FY2020 deferrals and the
scheduled FY2021 replacements and prioritized to complete
projects with greatest need. These total $293,000 and will be
completed with the $50,000 transfer and existing fund balance.
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Radio Equipment Replacement
Communication system consisting of 500 on‐body and in‐
vehicle radios for Police, Fire, parks and utilities.
Replacement radios are compatible with newer technology.
The replacement takes place over 5 years due to cost and is
funded with certificate of obligation debt.
There will not be any new radios purchased in FY2020 budget
because they were taken out of the debt sale due to market
uncertainty related to COVID‐19. There will be debt issued in
FY2021 for the final year of the replacement project.
FY2021 Budget will fund the radios deferred in FY2020. Additionally,
the Electric Fund plans to fund 10 radios that were deferred for
several years to reduce costs. The Electric Fund has improved its
financial position, and the equipment needs to be replaced for
employee safety.
Street Maintenance
The City funds street maintenance in the General Fund,
supplemented by a 1/8th Street Sales Tax special revenue
fund. In 2017 and 2018, the Council and GTAB reviewed
various methods for enhanced street maintenance and
costs. Direction from Council is to use high performance
surface seals and pavement wearing courses and begin
programmatically addressing the street network's deferred
maintenance backlog, creating a need for approximately $2
million more per year for street maintenance.
Due to the COVID‐19 pandemic, the Street Maintenance budget in
the General Fund was reduced in FY2021. The Streets Special
Revenue Fund will pick up some of the expenses, but not all.
No change.
Fiber Asset Allocation
Network fiber infrastructure is installed across the City.
Traditionally, the Electric Fund has installed and maintained
the network. In reviewing all costs for the Electric Fund, the
City has begun moving the fiber asset to the IT Fund. Staff
must develop a multi‐year strategy to complete the asset
transfer and allocate costs for maintenance.
Fiber staff will be moved into IT at beginning of FY 21. Also in FY
2021, Fiber costs will be allocated across departments according to
the IT allocation process. The second installment to acquire the
asset will be paid in FY2020, and there is a plan to assume
additional installments over the next 4 years. The IT Fund will need
to increase cost recovery rates to complete the acquisition.
No change.
IT Capital Replacement
Reserve
The purpose of this reserve is to fund the maintenance and
replacement of computer network and other technology
systems. A reserve will be established within the ISF for
replacement of major systems and will be funded over time
through excess revenues within the Fund. The targeted
amount is the average (1/5th) of the next five years on the
replacement schedule.
During the FY2021 budget adoption process, the IT capital
replacement reserve was drawn down in order to purchase a
portion of the fiber asset from the Electric utility. In FY2022, IT
Allocation revenues will need to increase citywide to recover the
fund balance and continue with the remaining fiber asset purchase.
Facilities Maintenance Reserve
The City has established an on‐going maintenance program,
which includes major repairs, equipment, as well as
contracts for maintaining City facilities. The City has
anticipated a useful life of such equipment and established
a means of charging those costs to the various departments
in order to recognize the City’s continuing costs of
maintaining its facilities. Determination for facility repairs is
based on useful life of the various elements of each facility.
A proportional cost for each element is expensed within the
budget for capital replacement. The targeted replacement
reserve amount is the average (1/5th) of the next five years
on the replacement schedule.
During the FY2021 budget adoption process, the Facilities cost
allocation revenue was not increased. This provided some economic
relief throughout major funds due to COVID economic uncertainty.
Therefore, no incremental progress was made to fund this reserve.
In FY2022 or future years, rates will need to increase to fund this
reserve.
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Public Safety Equipment
Recurring Line Item Budgets
As part of the City’s on‐going maintenance program, the
City also recognizes the need to regularly maintain and
replace specialized equipment in Police and Fire. Separate
replacement and maintenance schedules will be maintained
for these items including but not limited to for Fire: SCBA’s
and other firefighting equipment and protective gear; and
for Police: bullet proof vests, armaments and other tactical
equipment. The City’s goal is to provide level on‐going
funding to ensure proper protection for employees and
residents. The current funding level is an annual
appropriation in the General Fund of $80,000 for Fire and
$88,000 for Police.
Due to the economic impacts of the pandemic, reductions were
made to General Fund base budgets in FY2021, including public
safety equipment. There is no anticipated impact to employee
safety. The funds will need to be restored in FY2022, or as soon as
practical.
No change.
Joint Services Fund 90 Day
Operational Contingency
Reserve
A minimum ninety (90) days of operating expenses will be
reserved for unexpected delays in revenue or emergency
expenses.
Due to the economic impact of the pandemic, the City is not
increasing recovery rates to build this reserve. It is estimated to take
approximately 3 years to build the reserve to 90 days. The FY2021
budget provide funding to hire a consultant to review and
recommend updates to the City's joint services cost allocation
model.
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