HomeMy WebLinkAboutFY 22 - 1st_Qtr_Report_FY2022_RedactedQuarterly Financial Report
FINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended December 31, 2021
Table of Contents
General Fund Narrative ................................................................................................................................. 1‐6
General Fund Schedule .................................................................................................................................... 7
General Fund by Cost Center ...................................................................................................................... 8‐11
Electric Fund Narrative .............................................................................................................................. 12‐14
Electric Fund Schedule ................................................................................................................................... 15
Water Services Fund Narrative ................................................................................................................. 16‐18
Water Services Fund Schedule ....................................................................................................................... 19
Convention & Visitors Bureau Narrative ........................................................................................................ 20
Convention & Visitors Bureau Fund Schedule ............................................................................................... 21
Airport Fund Narrative .............................................................................................................................. 22‐23
Airport Fund Schedule .................................................................................................................................... 24
Joint Services Fund Schedule ......................................................................................................................... 25
Georgetown Transportation Enhancement Corporation Fund Narrative ................................................ 26‐27
Georgetown Transportation Enhancement Corporation Fund Schedule ..................................................... 28
Georgetown Economic Development Corporation Fund Narrative ......................................................... 29‐30
Georgetown Economic Development Corporation Fund Schedule .............................................................. 31
Council Discretionary Fund Schedule ............................................................................................................. 32
Quarterly Investment Report ‐ City ........................................................................................................... 33‐50
Quarterly Investment Report ‐ GEDCO ..................................................................................................... 51‐56
Quarterly Financial Report
Quarterly Investment Report ‐ GTEC ........................................................................................................ 57‐62
Grant Applications .......................................................................................................................................... 63
Capital Improvement Projects ................................................................................................................... 64‐68
Long‐term Commitments and Other Unfunded Liabilities ....................................................................... 69‐73
Quarterly Financial Report
Council in March to recognize additional commercial permitting revenue. The previous graph shows the number of
residential building permits issued by quarter for the past 3 years.
Sanitation revenue budget totals $10,600,000. Through the quarter, year-to-date revenues from sanitation is $3,009,161,
or 28.39% of budget. Sanitation rates increased as part of the FY2021 budget to support demand for service as well as to
support the debt service for a new transfer station. The variance between the same period last year is $252,180, or 9.15%.
Fire and EMS total budgeted revenue is $8,155,290. Through the quarter, Fire and EMS fee related revenue totals
$2,030,400, or 25% of budget. Additional Fire/EMS revenue is comprised of the Interlocal Agreement Emergency Services
District 8 contract for service, as well as public safety grants revenue.
Parks and Recreation fee revenue budget totals $2,476,234. Through the quarter, parks and recreation related fee revenue
totals $592,139, or 23.91% of budget. Parks and Recreation revenue is up 98.41% compared to FY2021. The Parks and
Recreation department has seen an increase in revenue compared to FY2021 as programming continues to increase to pre-
COVID levels.
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Quarterly Financial Report
POLICE OPERATIONS DIVISION:
Police Operations saw personnel and operational expenditures through the quarter totals $4,466,396, or 26.17% of budget.
Police Administration expenditures through the quarter resulted in $702,408, or 25.01% of budget.
FIRE AND EMS DIVISION:
Year-to-date personnel and operational expenditures through the quarter total $1,102,517, or 23.76% of budget for Fire
Support Services/Administration, $3,984,165, or 23.27% of budget for Fire Emergency Services, and $903,907, or 25.47% of
budget for Fire EMS. Fire Emergency Services budget was budgeted with positions that typically are in the EMS cost center.
The Fire budget is viewed at a division level which includes the roll-up of all Fire associated cost centers. The overall division
is under budget in FY2022.
ADMINISTRATIVE SERVICES DIVISION:
Administrative Services saw operational and personnel costs totaling $625,842, or 27.06% of budget year-to-date.
City Secretary personnel and operational expenditures for the quarter totals $239,260, which represents 20.72% of budget.
Year-to-date personnel and operational expenditures for Communications totals $244,453, which represents 22.42% of
budget.
Non-Departmental includes a transfer out of $1,510,670, or 100.00% of anticipated transfer expense for the year.
General Government Contracts includes budgeted vacancy savings estimates for all General Fund departments. Real
vacancy savings is realized in each cost center. The budgeted vacancy factor against year-to-date actuals in the
administrative division cost center drives the percent of budget up. Staff will adjust and forecast the vacancy factor as part
of the FY2022 projections in the third quarter report.
LIBRARY, TOURISM, AND ARTS AND CULTURE DIVISION:
Arts and Culture recognized year to date expenses totaling $55,369, or 26.14% of budget. Library year-to-date expenses
total $829,531, or 25.17% of budget.
PARKS AND RECREATION DIVISION:
Year-to-date personnel and operations costs for Parks and Recreation within the following cost centers: Parks
Administrations, Parks, Garey Park, Tennis Center, Recreation, and Recreation Programs, comes to a total of $2,242,679, or
22.63% of budget.
Parks year-to-date through the quarter totals $737,483, or 24.83% of budget. Recreational Programs total expenses are
$1,932, which is 0.00% of budget. Garey Park year-to-date is $271,649, or 25.53% of budget.
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Quarterly Financial Report
General Fund
Quarterly Comparison: Q1 FY2022 Budget Actuals
FY2022 YTD Actuals:
Q1 FY2022 Variance % of Budget
Planning
Personnel 1,731,368 309,896 1,421,472 17.90%
Operations 1,755,894 266,950 1,488,943 15.20%
Operating Capital 6,400 - 6,400 0.00%
Planning Total Expense 3,493,661 576,846 2,916,815 16.51%
Library
Personnel 1,989,290 414,071 (27,879) 20.81%
Operations 1,305,957 412,692 (101,414) 31.60%
Operating Capital - 2,768 (2,768) 0.00%
Library Total Expense 3,295,247 829,531 (132,061) 25.17%
Parks Administration
Personnel 306,013 72,482 233,531 23.69%
Operations 428,688 428,688 0.00%
Parks Administration Total Expense 734,701 177,758 556,943 24.19%
Parks
Personnel 1,665,542 355,363 1,310,179 21.34%
Operations 1,301,796 379,117 922,680 29.12%
Operating Capital 2,500 3,003 (503) 120.12%
CIP Expense - - - 0.00%
Parks Total Expense 2,969,839 737,483 2,232,355 24.83%
Recreation
Personnel 2,472,757 434,731 2,038,026 17.58%
Operations 2,157,494 514,754 1,642,740 23.86%
Recreation Total Expense 4,630,251 949,485 3,680,766 20.51%
Tennis Center
Personnel 265,410 53,605 211,805 20.20%
Operations 247,502 50,766 196,736 20.51%
Tennis Center Total Expense 512,912 104,371 408,540 20.35%
Recreation Programs
Personnel - - - 0.00%
Operations - 1,932 (1,932) 0.00%
Recreation Programs Total Expense - 1,932 (1,932) 0.00%
Garey Park
Personnel 500,892 110,635 390,256 22.09%
Operations 563,014 161,014 402,000 28.60%
Operating Capital - - - 0.00%
Garey Park Total Expense 1,063,906 271,649 792,256 25.53%
FY2022 Year‐to‐date:
Budget Vs. Actuals
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Quarterly Financial Report
General Fund
Quarterly Comparison: Q1 FY2022 Budget Actuals
FY2022 YTD Actuals:
Q1 FY2022 Variance % of Budget
FY2022 Year‐to‐date:
Budget Vs. Actuals
Arts and Culture
Operations 139,045 37,920 101,125 27.27%
Personnel 72,764 17,449 55,316 23.98%
Arts and Culture Total Expense 211,809 55,369 156,440 26.14%
Municipal Court
Personnel 505,155 106,865 398,290 21.15%
Operations 110,918 24,937 85,981 22.48%
Municipal Court Total Expense 616,073 131,802 484,271 21.39%
Fire Support Services/Administration
Personnel 2,874,393 591,879 2,282,514 20.59%
Operations 1,728,840 494,152 1,234,688 28.58%
Operating Capital 37,797 16,486 21,311 43.62%
Fire Support Total Expense 4,641,030 1,102,517 3,538,513 23.76%
Fire Emergency Services
Personnel 14,196,083 3,380,375 10,815,709 23.81%
Operations 2,827,180 590,147 2,237,034 20.87%
Operating Capital 94,802 13,644 81,159 14.39%
Fire Emergency Services Total Expense 17,118,066 3,984,165 13,133,901 23.27%
EMS
Personnel 2,556,844 552,671 2,004,173 21.62%
Operations 833,933 351,236 482,697 42.12%
Operating Capital 157,976 - 157,976 0.00%
EMS Total Expense 3,548,753 903,907 2,644,846 25.47%
Inspection Services
Personnel 1,577,913 343,331 1,234,581 21.76%
Operations 191,476 39,507 151,969 20.63%
Inspection Services Total Expense 1,769,388 382,838 1,386,550 21.64%
Administrative Services
Personnel 1,678,333 287,442 1,390,891 17.13%
Operations 634,884 338,400 296,484 53.30%
Administration Services Total Expense 2,313,217 625,842 1,687,375 27.06%
Community Services
Personnel 275,788 54,529 221,259 19.77%
Operations 124,476 20,689 103,787 16.62%
Community Services Total Expense 400,264 75,218 325,046 18.79%
City Secretary
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Quarterly Financial Report
General Fund
Quarterly Comparison: Q1 FY2022 Budget Actuals
FY2022 YTD Actuals:
Q1 FY2022 Variance % of Budget
FY2022 Year‐to‐date:
Budget Vs. Actuals
Personnel 617,012 129,969 487,043 21.06%
Operations 537,622 109,291 428,331 20.33%
City Secretary Total Expense 1,154,634 239,260 915,374 20.72%
Communications/ Public Engagement
Personnel 677,545 133,435 544,110 19.69%
Operations 412,929 111,018 301,911 26.89%
Communications Total Expense 1,090,475 244,453 846,021 22.42%
Police Administration
Personnel 691,149 147,469 543,680 21.34%
Operations 2,117,915 554,939 1,562,976 26.20%
Police Administration Total Expense 2,809,065 702,408 2,106,657 25.01%
Police Operations
Personnel 13,757,327 3,164,609 10,592,719 23.00%
Operations 2,653,585 874,300 1,779,284 32.95%
Operating Capital 655,793 427,487 228,306 65.19%
Police Operations Total Expense 17,066,705 4,466,396 12,600,309 26.17%
Animal Services
Personnel 887,082 156,474 730,608 17.64%
Operations 348,133 114,585 233,547 32.91%
Animal Services Total Expense 1,235,215 271,060 964,156 21.94%
Code Compliance
Personnel 489,378 105,681 383,697 21.59%
Operations 108,843 39,467 69,376 36.26%
Operating Capital - 2,902 (2,902) 0.00%
Code Compliance Total Expense 598,221 148,049 450,172 24.75%
Public Works
Personnel 657,705 147,438 510,267 22.42%
Operations 1,324,871 484,225 840,646 36.55%
Public Works Total Expense 1,982,576 631,663 1,350,913 31.86%
Streets
Personnel 1,722,458 364,837 1,357,621 21.18%
Operations 2,750,624 564,724 2,185,900 20.53%
Operating Capital - - - 0.00%
Streets Total Expense 4,473,082 929,561 3,543,521 20.78%
Environmental Services
Operations 9,707,764 1,684,325 8,023,439 17.35%
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Quarterly Financial Report
General Fund
Quarterly Comparison: Q1 FY2022 Budget Actuals
FY2022 YTD Actuals:
Q1 FY2022 Variance % of Budget
FY2022 Year‐to‐date:
Budget Vs. Actuals
Environmental Services Total Expense 9,707,764 1,684,325 8,023,439 17.35%
Non‐Departmental
Operations - 35 (35) 0.00%
Transfers 1,510,635 1,510,635 - 100.00%
Non-Departmental Total Expense 1,510,635 1,510,670 (35) 100.00%
General Government Contracts
Operations 6,299,105 1,997,645 4,301,460 31.71%
Personnel (642,460) - (642,460) 0.00%
Operating Capital 45,000 - 45,000 0.00%
General Government Contracts Expense 5,701,645 1,997,645 3,704,000 35.04%
Operations 42,500 19,348 23,152 45.52%
Personnel 163,070 35,421 127,648 21.72%
CC0634 City Council Services 205,570 54,769 150,800 26.64%
General Fund Total Expenses 94,854,705 23,790,974 71,063,730 25.08%
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Quarterly Financial Report
UTILITY FUNDS:
Electric Fund:
The City continues to employ several strategies to maintain the improved performance of the Electric Fund in relation to
past and current expenditures for purchased power contracts. These strategies include reviewing rates, selling Renewable
Energy Credits (RECs), and contracting professional services for energy portfolio management and risk oversight. The
extraordinary costs of Winter Storm Uri in February of 2021 resulted in the City debt‐financing $48 million over 9.5 years.
Additionally, the City is using regulatory asset accounting to amortize the purchased power expenses from the storm on an
initial 20 year schedule. Both of these schedules will be reviewed for opportunities to advance more quickly, while balancing
the affordability of rates and the overall financial targets for the Electric Fund.
As part of the FY2022 budget development process, the utilities reviewed various initiatives to improve resiliency to extreme
weather, including those required by legislation. Both utilities are going through cost of service studies to ensure that rates
cover these resiliency efforts, the growth pressure and infrastructure demand on the system, and financial targets for
liquidity and debt coverage. Staff will bring recommendations to Council in spring of FY2022.
ELECTRIC REVENUE:
Operating revenue in the Electric Fund totals $21,748,130 through the quarter, or 23.41% of budget. Electric sales revenue,
the largest component of operating revenue, has brought in $18,067,440 through the quarter, totaling 21.12% of Electric
charges budget. This is the final quarter comparing the change in the Power Cost Adjustment (PCA), which was reduced by
1 cent per kWh to 1.375 cents in January of 2021 to improve rate competitiveness for customers. Electric Sales revenue
are typically higher in the summer months when consumption increases due to hot weather. Developer contributions were
conservatively budgeted at $2,500,000. Year‐to‐date collection totals $2,466,728, or 98.67% of budget. Developer
contributions drive the need for utility infrastructure. While there is an increase in revenue, there are more new
development project expenses than anticipated. Due to global supply chain issues, the cost of material for electric
infrastructure projects increased significantly. These cost increases also resulted in increased capital expenses. Developer
Contributions and capital expenses will be evaluated and staff will bring back recommendations in the mid‐year budget
amendment.
Electric Services
Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022
FY2022 Year‐to‐date: Budget
Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q1 FY21
YTD Actuals:
Q1 FY22 Variance % of Budget Variance % Variance
Operating Revenue
40002:Sales Taxes 5,000 872 1,723 (3,277) 34.47% 852 97.70%
41002:Penalties 600,000 223,636 203,174 (396,826) 33.86% (20,462)‐9.15%
42001:Interest Income 11,000 14,536 8,753 (2,247) 79.57% (5,783)‐39.79%
43001:Fees 691,000 298,506 115,384 (575,616) 16.70% (183,122)‐61.35%
43004:Administrative Charges 3,539,712 805,526 884,928 (2,654,784) 25.00% 79,402 9.86%
43601:Electric Sales Charges 85,541,593 18,996,014 18,067,440 (67,474,153) 21.12% (928,573)‐4.89%
44502:Developer Contributions 2,500,000 2,142,271 2,466,728 (33,272) 98.67% 324,457 15.15%
70001:Transfers In ‐ 379,308 ‐ ‐0.00% (379,308)‐100.00%
Operating Revenue Total 92,888,305 22,860,667 21,748,130 (71,140,175) 23.41% (1,112,538)‐4.87%
Non‐Operating Revenue
45001:Misc Revenue 35,000 16,586 47,006 12,006 134.30% 30,420 183.41%
45004:Sale of Property 1,665,840 2,559 1,128,187 (537,653) 67.72% 1,125,628 43989.61%
46001:Bond Proceeds 11,961,500 ‐ ‐ (11,961,500) 0.00% ‐0.00%
Non‐Operating Revenue Total 13,662,340 19,145 1,175,193 (12,487,147) 8.60% 1,156,048 6038.48%
Revenue Total 106,550,645 22,879,812 22,923,323 (83,627,322) 21.51% 43,511 0.19%
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Quarterly Financial Report
The budget for non‐operating revenue totals
$13,662,340 in FY2022. Currently, the city intends to
issue $11,961,500 in bond proceeds for capital projects. The
City will recognize bond proceeds as part of the annual
debt sale in the spring. Bond proceeds will be reflected in
the third quarter report. Renewable Energy Credits
(REC) sales total $1,124,625, or 112.46% of budget
through the quarter. Pricing of RECs continued to be
favorable for the City in the first quarter. Recognizing
additional REC sales revenue is part of a budget
amendment set to go to Council on March 8, 2022.
ELECTRIC EXPENSES:
Operating expenses in the Electric Fund total
$21,725,829 through the quarter. Year‐to‐date
purchase power expenses total $14,649,515, while net congestion revenue rights (CRRs) credits total $(238,747). This is
due to congestion in the grid. October and November were under budget, and December was over budget. The net result
is $1 million under budget for purchased power for the quarter (not including REC sales). The City continued to use a hedging
strategy for the winter to avoid price spikes in the market. December was mild weather, and adjusted meter load was down
3.7% compared to the previous December. Electric Engineering and Transmission and Distribution (T&D) cost centers look
inflated. This is because of capitalization of labor being budgeted in capital expense while the actuals are booked to the
operating budget. The labor will be capitalized to the appropriate capital improvement project on the final year‐end
financial statements.
Electric Services
Quarterly Comparison: Q1 FY22 Budget FY2020 FY2021
FY2022 Year‐to‐date: Budget
Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q1 FY21
YTD Actuals:
Q1 FY22 Variance % of Budget Variance % Variance
Operating Expense
CC0001 Non‐Departmental 6,963,362 2,009,251 2,385,532 4,577,830 34.26% (376,281) 18.73%
CC0521 Operational Technology 1,131,831 168,010 148,999 982,833 13.16% 19,011 ‐11.32%
CC0522 Electric Administration 9,711,489 2,078,471 2,473,716 7,237,774 25.47% (395,245) 19.02%
CC0523 Electric Safety and
Employee Development 397,325 ‐ 26,510 370,815 6.67% (26,510) 0.00%
CC0524 Metering Services 2,148,593 432,949 448,807 1,699,786 20.89% (15,858) 3.66%
CC0525 T&D Services 2,851,546 868,072 1,296,750 1,554,797 45.48% (428,677) 49.38%
CC0526 Systems Engineering ‐ 178,467 15,698 (15,698) 0.00% 162,770 ‐91.20%
CC0537 Electric Resource
Management 55,493,445 17,070,075 14,215,146 41,278,298 25.62% 2,854,929 ‐16.72%
CC0555 Electric Systems
Operations 1,841,095 360,807 388,942 1,452,153 21.13% (28,134) 7.80%
CC0557 Electrical Engineering 888,773 222,783 325,731 563,042 36.65% (102,948) 46.21%
Operating Expense Total 81,427,459 23,388,885 21,725,829 59,701,630 26.68% 1,663,056 ‐7.11%
Non‐Operating Expense
CC0001 Non‐Departmental 9,947,271 ‐ ‐ 9,947,271 0.00% ‐0.00%
CC0557 Electrical Engineering 17,526,230 754,264 5,789,964 11,736,266 33.04% (5,035,701) 667.63%
Expense 27,473,501 5,789,964 21,683,537 21.07%
Expense Total 108,900,960 24,143,149 27,515,793 81,385,167 25.27% (3,372,645) 13.97%
K
5.0M
10.0M
15.0M
20.0M
25.0M
Q1
ELECTRIC FUND: ELECTRIC SALES
CHARGES
FY2020 FY2021 FY2022
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Quarterly Financial Report
The Electric department reorganized several personnel and operating expenses between cost centers and created new cost
centers as part of the FY2022 budget. These changes result in some variances compared to the same quarter the prior year.
Non‐operating expenditures are budgeted at $27,473,501 in FY2022. Budgeted non‐operating expenditures include
$17,526,230 for capital projects and $9,947,271 for debt service payments, both of which typically trend towards later
quarters. The Capital Project Roll Forward amendment included $6.6 million of active projects. These encumbrances
combined with increased New Development, shows an accelerated CIP spending in Electric Engineering compared to the
previous year. As previously mentioned, a significant portion of labor expenses for capital projects will be journaled at the
end of the fiscal year, bringing operations and capital expense in balance with their budgets.
The Electric Fund anticipates meeting all the fund’s below line reserve requirements in FY2022. Contingency requirements
include a 90‐day operating contingency of $6,426,561, a non‐operating reserve totaling $6,049,061, reserve for bond
proceeds of $4,069,154, as well as re‐establishing a rate stabilization reserve in the amount of $18,600,000.
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Quarterly Financial Report
Water Services Financial Report
Quarterly Comparison: Q1 FY22 Budget FY2021 FY2022
FY2022 Year‐to‐date: Budget
Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q1 FY21
YTD Actuals:
Q1 FY22 Variance % of Budget Variance % Variance
Operating Expense
CC0001 Non‐Departmental 5,069,426 1,212,948 2,132,692 2,936,734 42.07% (919,744) 75.83%
CC0526 Systems Engineering ‐ 275,658 ‐ ‐0.00% 275,658 ‐100.00%
CC0527 Water Services
Administration 32,789,524 8,368,710 10,304,886 22,484,637 31.43% (1,936,176) 23.14%
CC0528 Water Distribution 4,267,459 884,315 825,898 3,441,561 19.35% 58,418 ‐6.61%
CC0529 Water Plant Management 4,593,832 1,305,531 1,370,939 3,222,893 29.84% (65,408) 5.01%
CC0530 Wastewater Operations 1,158,995 260,752 407,881 751,114 35.19% (147,129) 56.43%
CC0531 Wastewater Plant
Management 4,096,934 1,162,964 1,526,983 2,569,950 37.27% (364,019) 31.30%
CC0532 Irrigation Operations 295,000 57,213 72,337 222,663 24.52% (15,124) 26.43%
CC0535 Water Conservation 1,005,032 ‐ ‐ 1,005,032 0.00% ‐0.00%
CC0553 Water Operations 4,967,065 (4,578,810) 1,069,615 3,897,451 21.53% (5,648,425)‐123.36%
Operating Expense Total 58,243,267 8,949,281 17,711,230 40,532,036 30.41% (8,761,949) 97.91%
Non‐Operating Expense
CC0001 Non‐Departmental 5,129,217 ‐ ‐ 5,129,217 0.00% ‐0.00%
CC0526 Systems Engineering 271,805,749 21,363,732 28,565,140 243,240,609 10.51% (7,201,408) 33.71%
CC0532 Irrigation Operations 308,000 ‐ ‐ 308,000 0.00% ‐0.00%
CC0530 Wastewater Operations 2,803,196 ‐ ‐ 2,803,196 0.00% ‐0.00%
CC0528 Water Distribution ‐ 456,600 ‐ ‐0.00% 456,600 ‐100.00%
CC0553 Water Operations 10,589,904 20,640,252 1,145,453 9,444,451 10.82% 19,494,799 ‐94.45%
CC0524 Metering Services 750,000 ‐ ‐ 750,000 0.00% ‐0.00%
Non‐Operating Expense Total 291,386,065 42,460,584 29,710,594 261,675,472 10.20% 12,749,991 ‐30.03%
Expense 349,629,332 51,409,865 47,421,824 302,207,508 86.44% 3,988,041 ‐7.76%
Non‐operating expense are budgeted at $291,386,065 in FY2022. Expenses total $29,710,594 through the quarter. Non‐
operating expenses reflect the capital project rollforward amendment that was approved by Council in January.
The Water Fund anticipates meeting all the funds below line reserve requirements by the end of FY2022. Contingency
requirements include a 90‐day operating contingency of $10,723,871, a non‐operating reserve of $10,000,000, and an
Impact Fee reserve of $3,190,000.
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Quarterly Financial Report
OTHER MAJOR FUNDS:
Tourism Fund: While the COVID‐19 pandemic significantly
impacted the tourism sector, the City continues to see
improvement in revenues in the fund. Overall revenue in the
fund totals $315,882, or 27.23% of budget. Hotel Occupancy
Tax revenue in this fund year‐to‐date totals $287,590 through
the quarter, or 28.76% of budget. Hotel Occupancy continues
to recover from pre COVID‐19 levels. This quarter Hotel
Occupancy Tax revenue is 146,406, or 203.70% over the same
quarter of the previous fiscal year. Staff will continue to
market Georgetown and are pleased to see occupancy rates
recovering.
Tourism Fund
Quarterly Comparison: Q1
FY22 Budget FY2021 FY2022 Quarterly Comparison Quarterly Comparison
FY2022 YTD Actuals: Q1
FY21
YTD Actuals: Q1
FY22 Variance % Variance Variance % Variance
Revenues
40008:Other Taxes 1,000,000 141,184 287,590 (712,410) 28.76% 146,406 203.70%
42001:Interest Income 5,000 2,110 665 (4,335) 13.30% (1,445) 31.53%
45001:Misc Revenue 105,000 4,307 27,627 (77,373) 26.31% 23,320 641.39%
44505:Sponsorship 50,000 ‐ ‐ (50,000) 0.00% ‐ 0.00%
Total Revenues 1,160,000 147,601 315,882 (844,118) 27.23% 168,281 214.01%
TOURISM EXPENSES:
The Operating expense budget for the Tourism Fund totals $1,052,369. Year‐to‐date operating expenses total $364,551,
or 34.64% of budget. Expenses are trending higher than anticipated because of the timing of invoices received for
POPPtober Fest. As part of the mid‐year budget amendment, staff intends to recognize additional appropriation to cover
transactions that crossed fiscal years.
Tourism Fund
Quarterly Comparison: Q1
FY22 Budget FY2021 FY2022 Quarterly Comparison Quarterly Comparison
FY2022 YTD Actuals: Q1
FY21
YTD Actuals: Q1
FY22 Variance % of Budget Variance % Variance
Expenses
CC0001 Non‐Departmental 52,407 28,634 52,407 ‐100.00% (23,773) 183.02%
CC0208 CVB 1,279,883 333,593 389,402 890,481 30.42% (55,810) 116.73%
CC0254 Poppy Festival 207,700 ‐ 90,429 117,271 43.54% (90,429) 0.00%
Total Expenses 1,539,990 362,227 532,239 1,007,752 34.56% (170,012) 146.94%
Overall, Tourism Fund expenditures are within budget and the fund can cover the 90‐day Contingency Reserve. Ending fund
balance is budgeted to be $935,567 in FY2022 with an operating contingency reserve of $337,842, and a capital reserve of
$597,724.
K
100K
200K
300K
400K
500K
Q1
HOTEL OCCUPANCY TAX
FY2020 FY2021 FY2022
20
Quarterly Financial Report
Joint Services
Period: Dec‐21 Budget Current Period
FY2022 Dec‐21 YTD Actuals
w/Encumbrances Variance % of Budget
Beginning Fund Balance 2,116,563 2,116,563 ‐ 100.00%
Revenue
41002:Penalties ‐ 2,653 9,317 9,317 0.00%
42001:Interest Income 6,250 254 831 (5,419)13.29%
43001:Fees 11,600 3,960 7,080 (4,520)61.03%
43004:Administrative Charges 20,801,574 1,797,981 5,393,944 (15,407,630) 25.93%
43005:Rental Revenue ‐ ‐ ‐ ‐ 0.00%
45001:Misc Revenue ‐ 300 300 300 0.00%
45002:Insurance Proceeds ‐ 12,562 57,843 57,843 0.00%
45003:Misc Reimbursements 120,000 4,298 7,988 (112,013) 6.66%
44502:Developer Contributions ‐ ‐ 0 0 0.00%
70001:Transfers In 25,000 25,000 25,000 ‐ 100.00%
Revenue Total 20,964,424 1,847,007 5,502,302 (15,462,122) 26.25%
Expense
CC0001 Non‐Departmental 1,038,500 341,795 590,178 448,322 56.83%
CC0254 Poppy Festival ‐ (1,526) ‐ ‐ 0.00%
CC0302 Finance Administration 1,248,443 132,127 437,447 810,997 35.04%
CC0315 Accounting 1,591,909 101,932 377,719 1,214,191 23.73%
CC0316 Municipal Court ‐ ‐ ‐ ‐ 0.00%
CC0317 Purchasing 1,073,285 84,515 280,121 793,164 26.10%
CC0321 Utility Customer Service 1,073,953 564,727 1,693,561 (619,608) 157.69%
CC0322 Utility Customer Billing 1,304,610 ‐ 235,111 1,069,499 18.02%
CC0324 Customer Admin & Data Analytics 4,801,286 2,195 ‐ 4,801,286 0.00%
CC0503 Organizational and Operational Excellence 380,014 26,403 72,965 307,049 19.20%
CC0526 Systems Engineering 2,765,115 301,663 968,729 1,796,386 35.03%
CC0534 Conservation ‐ 31,709 98,708 (98,708) 0.00%
CC0547 Business System Services ‐ ‐ ‐ ‐ 0.00%
CC0637 Economic Development 655,188 50,958 141,481 513,707 21.59%
CC0639 Human Resources 1,736,466 135,711 390,054 1,346,412 22.46%
CC0640 Citywide Human Resources 1,354,125 47,220 770,179 583,946 56.88%
CC0654 Legal 1,367,308 81,991 238,844 1,128,464 17.47%
CC0658 Real Estate Services 254,820 ‐ ‐ 254,820 0.00%
Expense Total 20,645,022 1,901,420 6,295,097 14,349,926 30.49%
Excess (Deficiency) of Total Revenue over Total
Requirements 319,402 (54,413) (792,795) (1,112,197) ‐248.21%
Ending Fund Balance 2,435,965 1,323,768 (1,112,197) 54.34%
Reserves
Contingency Reserve 2,435,966 2,435,966 ‐ 100.00%
Reserves Total 2,435,966 2,435,966 ‐ 100.00%
Available Fund Balance 0 (1,112,198) (1,112,198) #################
Year‐to‐Date Actuals Budget Vs. Actuals
25
Quarterly Financial Report
Council Discretionary
Period: Dec‐21 Budget Current Period
FY2022 Dec‐21 YTD Actuals Variance % of Budget
Beginning Fund Balance 2,317,139 2,317,139 ‐ 100.00%
Revenue
42001:Interest Income 150 0 0 (150) 0.05%
Total Revenue 150 0 0 (150) 0.05%
Expense
Transfers ‐ ‐ ‐ ‐ 0.00%
Total Expense ‐ ‐ ‐ ‐ 0.00%
Excess (Deficiency) of Total Revenue over Total
Requirements 150 0 0 (150) 0.05%
Ending Fund Balance 2,317,289 0 2,317,139 (150) 99.99%
Reserves
AFR Adjustment ‐ ‐ ‐ ‐
Contingency Reserve ‐ ‐ ‐ ‐
Debt Service Reserve ‐ ‐ ‐ ‐
Reserves Total ‐ ‐ ‐ ‐
Available Fund Balance 2,317,289 2,317,139 (150) 1
Year‐to‐Date Actuals Budget Vs. Actuals
During the reading of the FY2021 Year‐end Budget Amendment, Council approved reducing the $4,700,145 transfer from the General Fund to the Council SRF to
$2,317,139. Council used $2,383,006 to increase the Economic Stability Reserve in the General Fund to fully fund this reserve at 6% of operating expenses.
32
II. INVESTMENTS
The investment activity and strategies described in this report comply with the Public Funds
Investment Act (PFIA), the City’s investment policy, and generally accepted accounting principles.
Activity for the first quarter of fiscal year 2022 includes the maturing, reinvesting, and new
investments of financial institution deposits (CDs). Interest rates continue to be low for money
market accounts, Treasury bills, and CD’s. We are seeing a decline in the number of banks
responding to our investment offerings.
The FOMC met on December 14th and 15th. Upon adjournment they announced that the Fed
Funds rate would remain unchanged at a range of 0% to .25%, but lowered the monthly
purchases of Treasury/Agency positions to wean the markets from some of the stimuli that they
have inserted at the beginning of the pandemic. According to FOMC chair Powell, they should
completely end these purchases in March and raising the Fed Fund Rate could occur shortly after
that. The City will continue soliciting for the best rates to improve both diversity and yield, while
keeping in mind safety and liquidity.
The Investment Reports are for the quarter ending December 31, 2021. Valley View Consulting,
L.L.C., has prepared the attached investment reports. A component of our investment advisory
services contract includes Valley View preparing the quarterly investment reports on behalf of
the City. A summary of the investment balances as of December 31, 2021, compared to the
prior quarter, is shown below for the City, as well as Georgetown Transportation Enhancement
Corporation (GTEC) and Georgetown Economic Development Corporation (GEDCO). Included in
the City portfolio are debt service, consolidated funds, and bond proceeds. The breakdown of
the City’s portfolio is consolidated at 71%, debt service at 1%, and bond proceeds/grants at 28%.
CITY Book Value GTEC GEDCO
9/30/21 12/31/21 9/30/21 12/31/21 9/30/21 12/31/21
Total cash and
investments
$377,319,060 $413,507,197 $37,764,985 $41,274,830 $9,649,850 $10,624,975
Quarter End
Average Yield
.13% .13% .03% .04% .08% .08%
33
The City’s strategy continues to be matching maturities with cash flow needs, while focusing on the
investment policy’s long‐range goals. The City’s investment strategy is to “ladder” or stagger maturities,
thus minimizing erratic interest rate fluctuations. The City is continuing to manage the yield on bond
proceeds for arbitrage purposes.
The City’s investment portfolio generally includes bank deposits, local government investment pool
balances, money market accounts, and financial institution deposits (CD’s). All of these investments meet
the safety requirements of the PFIA. Local Government Investment Pools must maintain a rating of
AAAm, Securities (Treasury Bills) must have direct or implied backing of the Federal Government and
Financial Institution Deposits (CDs and money market accounts) must be collateralized with FDIC
insurance or obligations with an implied backing from the Federal Government. The collateral on all City
investments are monitored monthly to ensure the financial institutions carry minimum collateral of 100%
with a letter of credit or 102% with pledged securities for all of the City’s investments. All securities held
by financial institutions as collateral on behalf of the City have been reviewed and met PFIA‐minimum
rating criteria.
The City continues to work with the City’s depository bank (JPMorgan Chase) to find an average daily
balance that is best to receive the highest yield on the account. These balances earn credit against the
fees charged by the bank. The City will continue to verify depository yield versus investment yield to
achieve the best outcome.
III. CAPITAL IMPROVEMENT PROJECTS
A financial summary of capital improvement projects is attached to this report. With new capability in the
recent financial software implementation, we are providing a Life‐to‐Date picture of all active projects
since many capital projects take multiple fiscal years to construct to completion. With our growing capital
infrastructure implementation portfolio due demand for transportation and water services, City staff
have formed two working groups with the goal of improving work capacity and efficiencies, and
ultimately customer service, related to capital projects. One group is focused on incrementally improving
capital project reporting internally and externally citywide – including financial information as well as
scheduling, geographic location, and other information. The second group is focused on the re‐
organization of development‐related capital improvements from the Systems Engineering department to
the Planning Department. Both groups will continue working through the first quarter of FY2022.
34
CITY
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
December 31, 2021
Prepared by
Valley View Consulting, L.L.C.
The investment portfolio of the City of Georgetown is in compliance with the Public Funds Investment Act and
the Investment Policy and Strategies.
Disclaimer:These reports were compiled using information provided by the City.No procedures were performed to test the accuracy or
completeness of this information.The market values included in these reports were obtained by Valley View Consulting,L.L.C.from
sources believed to be accurate and represent proprietary valuation.Due to market fluctuations these levels are not necessarily reflective
of current liquidation values.Yield calculations are not determined using standard performance formulas,are not representative of total
return yields and do not account for investment advisor fees.35
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Demand Accounts 22,970,725$ 22,970,725 21,185,795$ 21,185,795$ 0.23%
NOW/MMA 23,043,557 23,043,557 23,057,882 23,057,882 0.25%
Pools 194,658,236 194,658,236 205,062,610 205,062,610 0.03%
CDs/Securities 136,646,542 136,646,542 164,200,910 164,200,910 0.24%Totals 377,319,060$ 377,319,060$ 413,507,197$ 413,507,197$ 0.13%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.13%Total Portfolio 0.13%
Rolling Three Month Treasury 0.06%Rolling Three Month Treasury 0.06%
Rolling Six Month Treasury 0.08%Rolling Six Month Treasury 0.08%
TexPool 0.04%TexPool 0.04%
Bank Fees Offset
12,088$
Interest earnings provided in separate report.12,088$
September 30, 2021
(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
December 31, 2021
City of Georgetown Valley View Consulting, L.L.C.36
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)0.23%01/01/22 12/31/21 21,185,795$ 21,185,795$ 1.00 21,185,795$ 1 0.23%
JPMorgan Chase MMA 0.03%01/01/22 12/31/21 434,146 434,146 1.00 434,146 1 0.03%
Veritex Community Bank MMA 0.10%01/01/22 12/31/21 3,215,361 3,215,361 1.00 3,215,361 1 0.10%
NexBank MMA 0.40%01/01/22 12/31/21 7,395,351 7,395,351 1.00 7,395,351 1 0.40%
Texas Capital Bank MMA 0.20%01/01/22 12/31/21 12,013,024 12,013,024 1.00 12,013,024 1 0.20%
TexPool AAAm 0.04%01/01/22 12/31/21 95,641,577 95,641,577 1.00 95,641,577 1 0.04%
TexSTAR AAAm 0.01%01/01/22 12/31/21 109,421,033 109,421,033 1.00 109,421,033 1 0.01%
East West Bank CD 0.21%01/07/22 01/08/21 5,010,309 5,010,309 100.00 5,010,309 7 0.21%
Prosperity Bank CD 0.30%01/21/22 10/21/20 4,014,022 4,014,022 100.00 4,014,022 21 0.30%
East West Bank CD 0.10%2/1/2022 05/10/21 2,001,294 2,001,294 100.00 2,001,294 32 0.10%
Independent Bank CD 0.40%02/05/22 02/05/21 3,008,963 3,008,963 100.00 3,008,963 36 0.40%
Independent Bank CD 0.40%02/08/22 02/08/21 5,014,919 5,014,919 100.00 5,014,919 39 0.40%
Prosperity Bank CD 0.15%02/10/22 08/10/21 3,003,738 3,003,738 100.00 3,003,738 41 0.15%
R Bank CD 0.63%02/25/22 02/25/21 2,009,446 2,009,446 100.00 2,009,446 56 0.63%
Prosperity Bank CD 0.15%03/21/22 09/21/21 5,001,870 5,001,870 100.00 5,001,870 80 0.15%
Prosperity Bank CD 0.35%04/21/22 10/21/20 2,510,227 2,510,227 100.00 2,510,227 111 0.35%
Independent Bank CD 0.30%04/22/22 04/22/21 4,218,187 4,218,187 100.00 4,218,187 112 0.30%
Independent Bank CD 0.35%05/09/22 02/08/21 4,010,480 4,010,480 100.00 4,010,480 129 0.35%
Prosperity Bank CD 0.35%05/17/22 11/17/20 2,007,586 2,007,586 100.00 2,007,586 137 0.35%
Prosperity Bank CD 0.20%06/13/22 06/11/21 5,005,016 5,005,016 100.00 5,005,016 164 0.20%
East West Bank CD 0.18%06/20/22 12/20/21 2,500,148 2,500,148 100.00 2,500,148 171 0.18%
East West Bank CD 0.18%06/20/22 12/20/21 3,000,178 3,000,178 100.00 3,000,178 171 0.18%
East West Bank CD 0.18%06/20/22 12/20/21 2,500,148 2,500,148 100.00 2,500,148 171 0.18%
Prosperity Bank CD 0.20%07/01/22 07/01/21 4,027,396 4,027,396 100.00 4,027,396 182 0.20%
Prosperity Bank CD 0.20%07/25/22 04/23/21 5,006,689 5,006,689 100.00 5,006,689 206 0.20%
Prosperity Bank CD 0.20%08/01/22 05/25/21 5,005,866 5,005,866 100.00 5,005,866 213 0.20%
East West Bank CD 0.17%08/15/22 11/15/21 4,000,876 4,000,876 100.00 4,000,876 227 0.17%
Prosperity Bank CD 0.35%08/22/22 11/20/20 2,509,483 2,509,483 100.00 2,509,483 234 0.35%
Prosperity Bank CD 0.20%09/12/22 06/11/21 5,005,016 5,005,016 100.00 5,005,016 255 0.20%
East West Bank CD 0.26%09/20/22 12/20/21 2,000,171 2,000,171 100.00 2,000,171 263 0.26%
Independent Bank CD 0.30%10/18/22 10/18/21 2,556,793 2,556,793 100.00 2,556,793 291 0.30%
Prosperity Bank CD 0.20%10/24/22 04/23/21 5,006,689 5,006,689 100.00 5,006,689 297 0.20%
East West Bank CD 0.21%11/15/22 11/15/21 10,002,704 10,002,704 100.00 10,002,704 319 0.21%
Prosperity Bank CD 0.40%11/17/22 11/17/20 2,008,672 2,008,672 100.00 2,008,672 321 0.40%
Prosperity Bank CD 0.15%11/23/22 08/23/21 2,001,003 2,001,003 100.00 2,001,003 327 0.15%
Prosperity Bank CD 0.15%12/21/22 09/21/21 5,001,870 5,001,870 100.00 5,001,870 355 0.15%
December 31, 2021
City of Georgetown Valley View Consulting, L.L.C.38
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
December 31, 2021
R Bank CD 0.60%12/31/22 06/30/21 1,003,029 1,003,029 100.00 1,003,029 365 0.60%
Bank OZK CD 0.18%02/23/23 08/23/21 4,202,542 4,202,542 100.00 4,202,542 419 0.18%
Veritex Community Bank CD 0.18%03/09/23 09/09/21 4,001,795 4,001,795 100.00 4,001,795 433 0.18%
Prosperity Bank CD 0.20%04/24/23 04/23/21 5,006,689 5,006,689 100.00 5,006,689 479 0.20%
Prosperity Bank CD 0.20%05/01/23 05/25/21 5,005,866 5,005,866 100.00 5,005,866 486 0.20%
Bank OZK CD 0.20%06/12/23 06/11/21 5,016,310 5,016,310 100.00 5,016,310 528 0.20%
R Bank CD 0.73%06/30/23 06/30/21 1,003,667 1,003,667 100.00 1,003,667 546 0.73%
Bank OZK CD 0.21%08/14/23 11/12/21 5,000,867 5,000,867 100.00 5,000,867 591 0.21%
Veritex Community Bank CD 0.25%09/25/23 09/24/21 10,006,234 10,006,234 100.00 10,006,234 633 0.25%
Bank OZK CD 0.20%10/09/23 10/08/21 5,001,680 5,001,680 100.00 5,001,680 647 0.20%
Bank OZK CD 0.30%11/13/23 11/12/21 10,002,474 10,002,474 100.00 10,002,474 682 0.30%
TOTALS 413,507,197$ 413,507,197$ 413,507,197$ 123 0.13%
(1)(2)
(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.
City of Georgetown Valley View Consulting, L.L.C.39
City - Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
09/30/21 Increases Decreases Book Value
12/31/21
Market Value
09/30/21
Change in
Market Value
Market Value
12/31/21
JPMorgan Chase Cash 0.23%01/01/22 22,970,725$ –$ (1,784,930)$ 21,185,795$ 22,970,725$ (1,784,930)$ 21,185,795$
JPMorgan Chase MMA 0.03%01/01/22 434,113 33 – 434,146 434,113 33 434,146
Veritex Community Bank M 0.10%01/01/22 3,214,573 788 – 3,215,361 3,214,573 788 3,215,361
NexBank MMA 0.40%01/01/22 7,387,900 7,451 – 7,395,351 7,387,900 7,451 7,395,351
Texas Capital Bank MMA 0.20%01/01/22 12,006,970 6,053 – 12,013,024 12,006,970 6,053 12,013,024
TexPool 0.04%01/01/22 66,870,729 28,770,848 – 95,641,577 66,870,729 28,770,848 95,641,577
TexSTAR 0.01%01/01/22 127,787,508 – (18,366,475) 109,421,033 127,787,508 (18,366,475) 109,421,033
East West Bank CD 0.21%10/08/21 5,007,658 – (5,007,658) – 5,007,658 (5,007,658) –
Prosperity Bank CD 0.30%10/14/21 2,506,888 – (2,506,888) – 2,506,888 (2,506,888) –
Independent Bank CD 0.40%10/18/21 2,554,218 – (2,554,218) – 2,554,218 (2,554,218) –
Prosperity Bank CD 0.30%11/22/21 3,007,501 – (3,007,501) – 3,007,501 (3,007,501) –
Texas Regional Bank CD 0.25%12/07/21 3,003,782 – (3,003,782) – 3,003,782 (3,003,782) –
East West Bank CD 0.21%12/30/21 3,004,750 – (3,004,750) – 3,004,750 (3,004,750) –
East West Bank CD 0.21%01/07/22 5,007,658 2,651 – 5,010,309 5,007,658 2,651 5,010,309
Prosperity Bank CD 0.30%01/21/22 4,011,021 3,001 – 4,014,022 4,011,021 3,001 4,014,022
East West Bank CD 0.10%2/1/2022 2,000,789 504 – 2,001,294 2,000,789 504 2,001,294
Independent Bank CD 0.40%02/05/22 3,005,933 3,031 – 3,008,963 3,005,933 3,031 3,008,963
Independent Bank CD 0.40%02/08/22 5,009,868 5,051 – 5,014,919 5,009,868 5,051 5,014,919
Prosperity Bank CD 0.15%02/10/22 3,002,615 1,123 – 3,003,738 3,002,615 1,123 3,003,738
R Bank CD 0.63%02/25/22 2,006,258 3,188 – 2,009,446 2,006,258 3,188 2,009,446
Prosperity Bank CD 0.15%03/21/22 5,000,000 1,870 – 5,001,870 5,000,000 1,870 5,001,870
Prosperity Bank CD 0.35%04/21/22 2,508,038 2,189 – 2,510,227 2,508,038 2,189 2,510,227
Independent Bank CD 0.30%04/22/22 4,215,000 3,187 – 4,218,187 4,215,000 3,187 4,218,187
Independent Bank CD 0.35%05/09/22 4,006,945 3,535 – 4,010,480 4,006,945 3,535 4,010,480
Prosperity Bank CD 0.35%05/17/22 2,005,835 1,751 – 2,007,586 2,005,835 1,751 2,007,586
Prosperity Bank CD 0.20%06/13/22 5,002,521 2,495 – 5,005,016 5,002,521 2,495 5,005,016
East West Bank CD 0.18%06/20/22 – 2,500,148 – 2,500,148 – 2,500,148 2,500,148
East West Bank CD 0.18%06/20/22 – 3,000,178 – 3,000,178 – 3,000,178 3,000,178
East West Bank CD 0.18%06/20/22 – 2,500,148 – 2,500,148 – 2,500,148 2,500,148
Prosperity Bank CD 0.20%07/01/22 4,025,388 2,008 – 4,027,396 4,025,388 2,008 4,027,396
Prosperity Bank CD 0.20%07/25/22 5,004,193 2,496 – 5,006,689 5,004,193 2,496 5,006,689
Prosperity Bank CD 0.20%08/01/22 5,003,371 2,495 – 5,005,866 5,003,371 2,495 5,005,866
East West Bank CD 0.17%08/15/22 – 4,000,876 – 4,000,876 – 4,000,876 4,000,876
Prosperity Bank CD 0.35%08/22/22 2,507,294 2,189 – 2,509,483 2,507,294 2,189 2,509,483
Prosperity Bank CD 0.20%09/12/22 5,002,521 2,495 – 5,005,016 5,002,521 2,495 5,005,016
East West Bank CD 0.26%09/20/22 – 2,000,171 – 2,000,171 – 2,000,171 2,000,171
Independent Bank CD 0.30%10/18/22 – 2,556,793 – 2,556,793 – 2,556,793 2,556,793
Prosperity Bank CD 0.20%10/24/22 5,004,193 2,496 – 5,006,689 5,004,193 2,496 5,006,689
East West Bank CD 0.21%11/15/22 – 10,002,704 – 10,002,704 – 10,002,704 10,002,704
City of Georgetown Valley View Consulting, L.L.C.41
City - Allocation
Investment Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
2015 GO-
Roads
2015 Revenue
Water WW
2016 GO-
Roads
2016 Revenue
Water/WW
JPMorgan Chase Cash 21,185,795$ 21,185,795$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,146 434,146 – – – – – – – –
Veritex Community Bank MMA 3,215,361 3,215,361 – – – – – – – –
NexBank MMA 7,395,351 7,395,351 – – – – – – – –
Texas Capital Bank MMA 12,013,024 12,013,024 – – – – – – – –
TexPool 95,641,577 95,641,577 – – – – – – – –
TexSTAR 109,421,033 26,975,128 491,317 4,759,615 137,318 19,523 2,043,651 1,531,963 1,416,191 204,500
East West Bank CD 01/07/22 5,010,309 5,010,309 – – – – – – – –
Prosperity Bank CD 01/21/22 4,014,022 4,014,022 – – – – – – – –
East West Bank CD 2/1/2022 2,001,294 – – – – – – – – –
Independent Bank CD 02/05/22 3,008,963 3,008,963 – – – – – – – –
Independent Bank CD 02/08/22 5,014,919 4,011,935 – – – – – – – – Prosperity Bank CD 02/10/22 3,003,738 – – – – – – – – –
R Bank CD 02/25/22 2,009,446 – – – – – – – – –
Prosperity Bank CD 03/21/22 5,001,870 5,001,870 – – – – – – – –
Prosperity Bank CD 04/21/22 2,510,227 2,510,227 – – – – – – – –
Independent Bank CD 04/22/22 4,218,187 4,218,187 – – – – – – – –
Independent Bank CD 05/09/22 4,010,480 4,010,480 – – – – – – – –
Prosperity Bank CD 05/17/22 2,007,586 2,007,586 – – – – – – – –
Prosperity Bank CD 06/13/22 5,005,016 5,005,016 – – – – – – – –
East West Bank CD 06/20/22 2,500,148 – – – – – – – – –
East West Bank CD 06/20/22 3,000,178 – – – – – – – – –
East West Bank CD 06/20/22 2,500,148 – – – – – – – – –
Prosperity Bank CD 07/01/22 4,027,396 4,027,396 – – – – – – – –
Prosperity Bank CD 07/25/22 5,006,689 5,006,689 – – – – – – – –
Prosperity Bank CD 08/01/22 5,005,866 5,005,866 – – – – – – – –
East West Bank CD 08/15/22 4,000,876 – – – – – – – – –
Prosperity Bank CD 08/22/22 2,509,483 2,509,483 – – – – – – – –
Prosperity Bank CD 09/12/22 5,005,016 5,005,016 – – – – – – – –
East West Bank CD 09/20/22 2,000,171 – – – – – – – – –
Independent Bank CD 10/18/22 2,556,793 2,556,793 – – – – – – – –
Prosperity Bank CD 10/24/22 5,006,689 5,006,689 – – – – – – – –
East West Bank CD 11/15/22 10,002,704 – – – – – – – – –
Prosperity Bank CD 11/17/22 2,008,672 2,008,672 – – – – – – – –
Prosperity Bank CD 11/23/22 2,001,003 2,001,003 – – – – – – – –
Prosperity Bank CD 12/21/22 5,001,870 5,001,870 – – – – – – – –
R Bank CD 12/31/22 1,003,029 1,003,029 – – – – – – – –
Bank OZK CD 02/23/23 4,202,542 4,202,542 – – – – – – – –
Veritex Community Bank CD 03/09/23 4,001,795 4,001,795 – – – – – – – –
Prosperity Bank CD 04/24/23 5,006,689 5,006,689 – – – – – – – –
Prosperity Bank CD 05/01/23 5,005,866 5,005,866 – – – – – – – –
Bank OZK CD 06/12/23 5,016,310 5,016,310 – – – – – – – –
R Bank CD 06/30/23 1,003,667 1,003,667 – – – – – – – –
Bank OZK CD 08/14/23 5,000,867 5,000,867 – – – – – – – –
Veritex Community Bank CD 09/25/23 10,006,234 10,006,234 – – – – – – – –
Bank OZK CD 10/09/23 5,001,680 5,001,680 – – – – – – – –
Bank OZK CD 11/13/23 10,002,474 10,002,474 – – – – – – – –
Totals 413,507,197$ 299,039,607$ 491,317$ 4,759,615$ 137,318$ 19,523$ 2,043,651$ 1,531,963$ 1,416,191$ 204,500$
Book & Market Value
December 31, 2021
City of Georgetown Valley View Consulting, L.L.C.43
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
Texas Capital Bank MMA
TexPool
TexSTAR
East West Bank CD 01/07/22
Prosperity Bank CD 01/21/22
East West Bank CD 2/1/2022
Independent Bank CD 02/05/22
Independent Bank CD 02/08/22
Prosperity Bank CD 02/10/22
R Bank CD 02/25/22
Prosperity Bank CD 03/21/22
Prosperity Bank CD 04/21/22
Independent Bank CD 04/22/22
Independent Bank CD 05/09/22
Prosperity Bank CD 05/17/22
Prosperity Bank CD 06/13/22
East West Bank CD 06/20/22
East West Bank CD 06/20/22
East West Bank CD 06/20/22
Prosperity Bank CD 07/01/22
Prosperity Bank CD 07/25/22
Prosperity Bank CD 08/01/22
East West Bank CD 08/15/22
Prosperity Bank CD 08/22/22
Prosperity Bank CD 09/12/22
East West Bank CD 09/20/22
Independent Bank CD 10/18/22
Prosperity Bank CD 10/24/22
East West Bank CD 11/15/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
R Bank CD 12/31/22
Bank OZK CD 02/23/23
Veritex Community Bank CD 03/09/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Bank OZK CD 06/12/23
R Bank CD 06/30/23
Bank OZK CD 08/14/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Totals
Book & Market Value
December 31, 2021
(Continued)
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
2019 CO-
Streets/
Facilities/
Equip
2019 GO-
Roads
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
246,585 4,344 97,392 7,767,004 56,705 576,862 343,147 1,914,917 3,982,049 754,612
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – 1,002,984 – – – – – –
– – – 3,003,738 – – – – – –
– – – – – – – – – 2,009,446
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – 2,500,148 –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
246,585$ 4,344$ 97,392$ 11,773,726$ 56,705$ 576,862$ 343,147$ 1,914,917$ 6,482,197$ 2,764,059$
City of Georgetown Valley View Consulting, L.L.C.44
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
Texas Capital Bank MMA
TexPool
TexSTAR
East West Bank CD 01/07/22
Prosperity Bank CD 01/21/22
East West Bank CD 2/1/2022
Independent Bank CD 02/05/22
Independent Bank CD 02/08/22
Prosperity Bank CD 02/10/22
R Bank CD 02/25/22
Prosperity Bank CD 03/21/22
Prosperity Bank CD 04/21/22
Independent Bank CD 04/22/22
Independent Bank CD 05/09/22
Prosperity Bank CD 05/17/22
Prosperity Bank CD 06/13/22
East West Bank CD 06/20/22
East West Bank CD 06/20/22
East West Bank CD 06/20/22
Prosperity Bank CD 07/01/22
Prosperity Bank CD 07/25/22
Prosperity Bank CD 08/01/22
East West Bank CD 08/15/22
Prosperity Bank CD 08/22/22
Prosperity Bank CD 09/12/22
East West Bank CD 09/20/22
Independent Bank CD 10/18/22
Prosperity Bank CD 10/24/22
East West Bank CD 11/15/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
R Bank CD 12/31/22
Bank OZK CD 02/23/23
Veritex Community Bank CD 03/09/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Bank OZK CD 06/12/23
R Bank CD 06/30/23
Bank OZK CD 08/14/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Totals
Book & Market Value
December 31, 2021
(Continued)
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Water/WW
Electric-LCRA
Transformers
City - 2021 CO
Airport
City - 2021 CO
Fac/Equip/Par
ks
City - 2021
GO Parks
City - 2021
GO Roads
City - 2021A
CO Electric
City - 2021A
CO
Water/WW
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
1,154,776 390,295 5,391,534 673,034 4,156,584 700,045 5,371,681 1,000,064 5,721,126 2,873,965 10,789,818
– – – – – – – – – – –
– – – – – – – – – – –
– – 2,001,294 – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – 3,000,178 – – – –
– – – – – – – – – – 2,500,148
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – 4,000,876 – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
1,154,776$ 390,295$ 7,392,828$ 673,034$ 4,156,584$ 700,045$ 12,372,735$ 1,000,064$ 5,721,126$ 2,873,965$ 13,289,966$
City of Georgetown Valley View Consulting, L.L.C.45
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
Texas Capital Bank MMA
TexPool
TexSTAR
East West Bank CD 01/07/22
Prosperity Bank CD 01/21/22
East West Bank CD 2/1/2022
Independent Bank CD 02/05/22
Independent Bank CD 02/08/22
Prosperity Bank CD 02/10/22
R Bank CD 02/25/22
Prosperity Bank CD 03/21/22
Prosperity Bank CD 04/21/22
Independent Bank CD 04/22/22
Independent Bank CD 05/09/22
Prosperity Bank CD 05/17/22
Prosperity Bank CD 06/13/22
East West Bank CD 06/20/22
East West Bank CD 06/20/22
East West Bank CD 06/20/22
Prosperity Bank CD 07/01/22
Prosperity Bank CD 07/25/22
Prosperity Bank CD 08/01/22
East West Bank CD 08/15/22
Prosperity Bank CD 08/22/22
Prosperity Bank CD 09/12/22
East West Bank CD 09/20/22
Independent Bank CD 10/18/22
Prosperity Bank CD 10/24/22
East West Bank CD 11/15/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
R Bank CD 12/31/22
Bank OZK CD 02/23/23
Veritex Community Bank CD 03/09/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Bank OZK CD 06/12/23
R Bank CD 06/30/23
Bank OZK CD 08/14/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Totals
Book & Market Value
December 31, 2021
(Continued)
City - 2021A
GO Roads
City -
American
Rescue Plan
–$ –$
– –
– –
– –
– –
– –
13,948,075 3,927,211
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
2,000,171 –
– –
– –
10,002,704 –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
25,950,950$ 3,927,211$
City of Georgetown Valley View Consulting, L.L.C.46
City - Allocation (Continued)
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
2015 GO-
Roads
2015 Revenue
Water WW
2016 GO-
Roads
2016 Revenue
Water/WW
JPMorgan Chase Cash 22,970,725$ 22,970,725$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,113 434,113 – – – – – – – –
Veritex Community Bank MMA 3,214,573 3,214,573 – – – – – – – –
NexBank MMA 7,387,900 7,387,900 – – – – – – – –
Texas Capital Bank MMA 12,006,970 12,006,970 – – – – – – – –
TexPool 66,870,729 66,870,729 – – – – – – – –
TexSTAR 127,787,508 20,259,237 493,387 2,003,757 137,314 19,522 2,055,756 1,531,919 1,416,150 270,991
East West Bank CD 10/08/21 5,007,658 5,007,658 – – – – – – – –
Prosperity Bank CD 10/14/21 2,506,888 2,506,888 – – – – – – – –
Independent Bank CD 10/18/21 2,554,218 2,554,218 – – – – – – – –
Prosperity Bank CD 11/22/21 3,007,501 3,007,501 – – – – – – – –
Texas Regional Bank CD 12/07/21 3,003,782 – – – – – – – – –
East West Bank CD 12/30/21 3,004,750 3,004,750 – – – – – – – –
East West Bank CD 01/07/22 5,007,658 5,007,658 – – – – – – – –
Prosperity Bank CD 01/21/22 4,011,021 4,011,021 – – – – – – – –
East West Bank CD 02/01/22 2,000,789 – – – – – – – – –
Independent Bank CD 02/05/22 3,005,933 3,005,933 – – – – – – – –
Independent Bank CD 02/08/22 5,009,868 4,007,894 – – – – – – – –
Prosperity Bank CD 02/10/22 3,002,615 – – – – – – – – –
R Bank CD 02/25/22 2,006,258 – – – – – – – – –
Prosperity Bank CD 03/21/22 5,000,000 5,000,000 – – – – – – – –
Prosperity Bank CD 04/21/22 2,508,038 2,508,038 – – – – – – – –
Independent Bank CD 04/22/22 4,215,000 4,215,000 – – – – – – – –
Independent Bank CD 05/09/22 4,006,945 4,006,945 – – – – – – – –
Prosperity Bank CD 05/17/22 2,005,835 2,005,835 – – – – – – – –
Prosperity Bank CD 06/13/22 5,002,521 5,002,521 – – – – – – – –
Prosperity Bank CD 07/01/22 4,025,388 4,025,388 – – – – – – – –
Prosperity Bank CD 07/25/22 5,004,193 5,004,193 – – – – – – – –
Prosperity Bank CD 08/01/22 5,003,371 5,003,371 – – – – – – – –
Prosperity Bank CD 08/22/22 2,507,294 2,507,294 – – – – – – – –
Prosperity Bank CD 09/12/22 5,002,521 5,002,521 – – – – – – – –
Prosperity Bank CD 10/24/22 5,004,193 5,004,193 – – – – – – – –
Prosperity Bank CD 11/17/22 2,006,670 2,006,670 – – – – – – – –
Prosperity Bank CD 11/23/22 2,000,255 2,000,255 – – – – – – – –
Prosperity Bank CD 12/21/22 5,000,000 5,000,000 – – – – – – – –
R Bank CD 12/31/22 1,001,530 1,001,530 – – – – – – – –
Bank OZK CD 02/23/23 4,200,646 4,200,646 – – – – – – – –
Veritex Community Bank CD 03/09/23 4,000,000 4,000,000 – – – – – – – –
Prosperity Bank CD 04/24/23 5,004,193 5,004,193 – – – – – – – –
Prosperity Bank CD 05/01/23 5,003,371 5,003,371 – – – – – – – –
Bank OZK CD 06/12/23 5,013,797 5,013,797 – – – – – – – –
R Bank CD 06/30/23 1,001,842 1,001,842 – – – – – – – –
Veritex Community Bank CD 09/25/23 10,000,000 10,000,000
Totals 377,319,060$ 258,775,372$ 493,387$ 2,003,757$ 137,314$ 19,522$ 2,055,756$ 1,531,919$ 1,416,150$ 270,991$
September 30, 2021
Book & Market Value
City of Georgetown Valley View Consulting, L.L.C.47
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
Texas Capital Bank MMA
TexPool
TexSTAR
East West Bank CD 10/08/21
Prosperity Bank CD 10/14/21
Independent Bank CD 10/18/21
Prosperity Bank CD 11/22/21
Texas Regional Bank CD 12/07/21
East West Bank CD 12/30/21
East West Bank CD 01/07/22
Prosperity Bank CD 01/21/22
East West Bank CD 02/01/22
Independent Bank CD 02/05/22
Independent Bank CD 02/08/22
Prosperity Bank CD 02/10/22
R Bank CD 02/25/22
Prosperity Bank CD 03/21/22
Prosperity Bank CD 04/21/22
Independent Bank CD 04/22/22
Independent Bank CD 05/09/22
Prosperity Bank CD 05/17/22
Prosperity Bank CD 06/13/22
Prosperity Bank CD 07/01/22
Prosperity Bank CD 07/25/22
Prosperity Bank CD 08/01/22
Prosperity Bank CD 08/22/22
Prosperity Bank CD 09/12/22
Prosperity Bank CD 10/24/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
R Bank CD 12/31/22
Bank OZK CD 02/23/23
Veritex Community Bank CD 03/09/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Bank OZK CD 06/12/23
R Bank CD 06/30/23
Veritex Community Bank CD 09/25/23
Totals
September 30, 2021
Book & Market Value
(Continued)
Garey Park
Donation
2017 CO
Facilities/ Public
Safety/
Equipment
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Parks
2018 GO-
Roads
2019 CO-
Streets/
Facilities/
Equip
2019 GO-
Roads
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
246,578 53,200 97,389 4,761,278 56,703 576,846 349,300 1,926,217 6,518,325 822,100
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – 3,003,782 – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – 1,001,974 – – – – – –
– – – 3,002,615 – – – – – –
– – – – – – – – – 2,006,258
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
246,578$ 53,200$ 97,389$ 11,769,648$ 56,703$ 576,846$ 349,300$ 1,926,217$ 6,518,325$ 2,828,358$
City of Georgetown Valley View Consulting, L.L.C.48
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
Texas Capital Bank MMA
TexPool
TexSTAR
East West Bank CD 10/08/21
Prosperity Bank CD 10/14/21
Independent Bank CD 10/18/21
Prosperity Bank CD 11/22/21
Texas Regional Bank CD 12/07/21
East West Bank CD 12/30/21
East West Bank CD 01/07/22
Prosperity Bank CD 01/21/22
East West Bank CD 02/01/22
Independent Bank CD 02/05/22
Independent Bank CD 02/08/22
Prosperity Bank CD 02/10/22
R Bank CD 02/25/22
Prosperity Bank CD 03/21/22
Prosperity Bank CD 04/21/22
Independent Bank CD 04/22/22
Independent Bank CD 05/09/22
Prosperity Bank CD 05/17/22
Prosperity Bank CD 06/13/22
Prosperity Bank CD 07/01/22
Prosperity Bank CD 07/25/22
Prosperity Bank CD 08/01/22
Prosperity Bank CD 08/22/22
Prosperity Bank CD 09/12/22
Prosperity Bank CD 10/24/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
R Bank CD 12/31/22
Bank OZK CD 02/23/23
Veritex Community Bank CD 03/09/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Bank OZK CD 06/12/23
R Bank CD 06/30/23
Veritex Community Bank CD 09/25/23
Totals
September 30, 2021
Book & Market Value
(Continued)
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
2020 GO-
Roads
2020
Revenue-
Water/WW
Electric-LCRA
Transformers
City - 2021 CO
Airport
City - 2021 CO
Fac/Equip/Par
ks
City - 2021
GO Parks
City - 2021
GO Roads
City - 2021A
CO Electric
City - 2021A
CO Water/WW
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
1,600,026 488,674 5,402,091 1,646,143 4,156,465 700,025 12,533,816 1,000,035 6,264,002 4,983,087 13,402,129
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – 2,000,789 – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
1,600,026$ 488,674$ 7,402,880$ 1,646,143$ 4,156,465$ 700,025$ 12,533,816$ 1,000,035$ 6,264,002$ 4,983,087$ 13,402,129$
City of Georgetown Valley View Consulting, L.L.C.49
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
Texas Capital Bank MMA
TexPool
TexSTAR
East West Bank CD 10/08/21
Prosperity Bank CD 10/14/21
Independent Bank CD 10/18/21
Prosperity Bank CD 11/22/21
Texas Regional Bank CD 12/07/21
East West Bank CD 12/30/21
East West Bank CD 01/07/22
Prosperity Bank CD 01/21/22
East West Bank CD 02/01/22
Independent Bank CD 02/05/22
Independent Bank CD 02/08/22
Prosperity Bank CD 02/10/22
R Bank CD 02/25/22
Prosperity Bank CD 03/21/22
Prosperity Bank CD 04/21/22
Independent Bank CD 04/22/22
Independent Bank CD 05/09/22
Prosperity Bank CD 05/17/22
Prosperity Bank CD 06/13/22
Prosperity Bank CD 07/01/22
Prosperity Bank CD 07/25/22
Prosperity Bank CD 08/01/22
Prosperity Bank CD 08/22/22
Prosperity Bank CD 09/12/22
Prosperity Bank CD 10/24/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
R Bank CD 12/31/22
Bank OZK CD 02/23/23
Veritex Community Bank CD 03/09/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Bank OZK CD 06/12/23
R Bank CD 06/30/23
Veritex Community Bank CD 09/25/23
Totals
September 30, 2021
Book & Market Value City - 2021A
GO Roads
City -
American
Rescue Plan
–$ –$
– –
– –
– –
– –
– –
28,000,176 4,014,869
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
– –
28,000,176$ 4,014,869$
City of Georgetown Valley View Consulting, L.L.C.50
Georgetown Economic Development Corporation (GEDCO)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
December 31, 2021
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.51
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,131,487$ 2,131,487$ 2,132,009$ 2,132,009$ 0.10%
Pools 5,515,983 5,515,983 6,489,373 6,489,373 0.02%
Certificates of Deposit 2,002,381 2,002,381 2,003,592 2,003,592 0.24%
9,649,850$ 9,649,850$ 10,624,975$ 10,624,975$ 0.08%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.08%Total Portfolio 0.08%
Rolling Three Month Treasury 0.06%Rolling Three Month Treasury 0.06%
Rolling Six Month Treasury 0.08%Rolling Six Month Treasury 0.08%
TexPool 0.04%TexPool 0.04%
Interest income provided in separate report.
September 30, 2021
(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.
December 31, 2021
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.52
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 0.10%01/01/22 12/31/21 2,132,009$ 2,132,009$ 1.00 2,132,009$ 1 0.10%
TexasDAILY AAAm 0.02%01/01/22 12/31/21 2,126,023 2,126,023 1.00 2,126,023 1 0.02%
TexSTAR AAAm 0.01%01/01/22 12/31/21 4,363,350 4,363,350 1.00 4,363,350 1 0.01%
Veritex Bank CD 0.24%8/5/2022 02/08/21 2,003,592 2,003,592 100.00 2,003,592 217 0.24%
10,624,975$ 10,624,975$ 10,624,975$ 42 0.08%
(1)(2)
December 31, 2021
(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.
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.54
Georgetown Transportation Enhancement Corporation (GTEC)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
December 31, 2021
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.57
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Pools/MMAs 34,752,525$ 34,752,525$ 38,261,243$ 38,261,243$ 0.03%
CDs/Securities 3,012,460 3,012,460 3,013,586 3,013,586 0.15%Totals 37,764,985$ 37,764,985$ 41,274,830$ 41,274,830$ 0.04%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.04%Total Portfolio 0.04%
Rolling Three Month Treasury 0.06%Rolling Three Month Treasury 0.06%
Rolling Six Month Treasury 0.08%Rolling Six Month Treasury 0.08%
TexPool 0.04%TexPool 0.04%
Interest data provided in separate report.
September 30, 2021
(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.
December 31, 2021
Georgetown Transportation Enhancement Corporation (GTEC)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
TexPool AAAm 0.04%01/01/22 12/31/21 20,864,554$ 20,864,554$ 1.00 20,864,554$ 1 0.04%
TexSTAR AAAm 0.01%01/01/22 12/31/21 14,706,484 14,706,484 1.00 14,706,484 1 0.01%
Veritex Bank MMA 0.10%01/01/22 12/31/21 2,690,205 2,690,205 1.00 2,690,205 1 0.10%
Prosperity Bank CD 0.15%08/23/22 08/23/21 3,013,586 3,013,586 100.00 3,013,586 235 0.15%
TOTALS 41,274,830$ 41,274,830$ 41,274,830$ 18 0.04%
(1)(2)
December 31, 2021
(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.
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.60
Department Federal Grantor Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized
Airport N/A Texas Department of
Transportation-Aviation
M2214GEOR RAMP Grant - Routine Airport
Maintenance Program
- -
Emergency Management US Dept. of the Treasury American Rescue Plan Act
SLFRF Funding
72,000.00 72,000.00
Fire US Department of Homeland Security Federal Emergency
Management Agency
EMW-2017-FH-00496 SAFER 305,582.31 -
Library Texas Commission on the Arts Downtown Cultural District
Grant
- 104,500.00
Planning US Department of Housing & Urban Development Williamson County CDBG 21st St Infrastructure 14,521.50 -
Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair 30,447.17 -
Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement - -
Public Works Dept. of Transportation /Federal Highway
Administration
Texas Department of
Transportation
CSJ-0914-05-187 Highway Planning &
Construction (Austin Ave
Bridge)
- -
Division Grantor COG Name/Purpose Status
Emergency Management FEMA TDEM DR-4586 Winter Storm Uri Recovery
CITY OF GEORGETOWN
Grant/Federal Funding Report
as of December 31, 2021
Active
Applications Pending Award
Under FEMA Review 63
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 9/30/21 Status Updates ‐ 12/31/21
Cemetery Special Revenue
Fund Perpetual Reserve
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 transfer $75,000 annually for future costs
associated with maintaining the property. The General
Fund has made this transfer in since FY 2016. While the
perpetual reserve has grown slowly, it is not on pace to
sustain the Cemetery Fund long‐term. The fund is estimated
to need a $5 million balance to be self‐sustaining on interest
earnings and cemetery revenue.
The FY2021 projected ending fund balance is $650,000.
The general fund transfer was restored to the $75,000 in
the FY2022 budget. No Change. Council gave no
direction during the Fiscal Policy update on reserves not
in compliance.
No Change. Fiscal policies not in compliance will be
discussed with Council at the March 8 workshop on the
First Quarter Report.
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 9/30/2020, the net pension liability is $18.7 million
and is 88.97% funded. This decrease in liability is due to a
change in the actuarial assumptions. No change, this
report is not yet available.
No change, this report is not yet available.
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 9/30/2020 is $2.7 million. This is a
combination of sudden death benefits as well as post‐
retirement healthcare. No change, this report is not yet
available.
OPEB liability as of 9/30/21 is $4.9 million.
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.
Compensated absences as of 9/30/2020 are $8.2 million.
More time was earned than used during FY2020 as many
plans were changed related to the pandemic. The City did
not extend any vacation cap carry overs in general. As
with any year, specific requests for carryover are
considered and approved by the City Manager. No
change, this report is not yet available.
Compensated absences as of 9/30/21 are $8.4 million.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
12/31/2021
69
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 9/30/21 Status Updates ‐ 12/31/21
Electric Fund Rate Stabilization
Reserve
Intended to mitigate potential rate impacts due to increased
purchased power costs or other external factors. The RSR is
maintained within the Electric Fund.
FY2021 preliminary year‐end fund balance is $40.5
million. The Electric Fund experienced accelerated new
development capital projects and will need a year‐end
budget amendment for 2021 and a revised budget for
2022. After accounting for reserves and capital project
roll forwards, available ending fund balance is projected
to be $3.9 million.
Final ending fund balance in FY2021 is $39.8M. After
accounting for capital roll forward and cost of living
adjustment amendments in FY2022, ending fund balance
is projected to be $36.6M. This fully funds all reserves
and leaves a remaining available balance of $1.4M.
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.No change
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.
ADA trail improvements along the San Gabriel River
are nearing completion. Planning and design is
underway for areas along the South San Gabriel
River Trail. The final trail and park ADA
improvements are scheduled to be completed in
FY22.
No Change
70
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 9/30/21 Status Updates ‐ 12/31/21
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.
Rock Sidewalk/FY 20 Downtown ADA Sidewalk
Improvements. Project is in construction. Contractor
wrapped up most work along Rock Street. Currently
working at 7th and 8th streets at Austin Ave. Will move
over to 7th and Main area next. FY21 Downtown ADA
Sidewalk improvements will be a continuation of
Downtown ADA improvements and closing gaps.
Design/survey work has begun. The mobility bond passed
in the May election, providing new funding over the next
7 years for sidewalks.
Rock Sidewalk/FY 20 Downtown ADA Sidewalk
Improvements. Project is in construction. Contractor
wrapped up most work along Rock Street and the
intersections of Austin and 7th/8th streets. Contractor is
currently working on 7th street between Main and
Church Streets. FY21 and FY22 Downtown ADA Sidewalk
improvements will be a continuation of Downtown ADA
improvements and closing gaps. Design/survey work has
begun. Internal meetings to take place to ensure
coordination with departments on work that may need to
take place with the construction.
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.
Park maintenance and replacement is funded for
$297,000 in FY22 through a general fund transfer into the
Parks Restricted SRF. Identified repair and replacement
needs total $409,000. Capital repair and maintenance
projects at the Recreation Center, Pinnacle Park and
Raintree Park are scheduled to be completed later in
FY22. Identified repair and replacement costs for FY23
and FY24 are $780,700 and $455,800 respectively.
No Change
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.
Due to the unexpected retirement of Fleet staff, we were
unable to spend the remaining funds and have asked for
these funds to roll forward to FY22 which was approved.
The replacement count for FY2022 will be finalized and
sent to GGAF for approval in April.71
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 9/30/21 Status Updates ‐ 12/31/21
Street Maintenance
The City funds street maintenance in the General Fund,
supplemented by a 1/8th Street Sales Tax special revenue
fund. In 2017 and 2018, the Council and GTAB reviewed
various methods for enhanced street maintenance and
costs. Direction from Council is to use high performance
surface seals and pavement wearing courses and begin
programmatically addressing the street network's deferred
maintenance backlog, creating a need for approximately $2
million more per year for street maintenance.
Staff received direction from Council on potential uses of
available Street Maintenance sales tax dollars and will
make these updates in an FY2022 budget amendment.
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.
Cost recovery for the Fiber asset transfer was continued
in the FY 2022 budget, with $665,000 being transferred
from the IT internal service fund to the Electric fund.
The IT Department is planning to include the fourth and
final installment of the asset transfer as costs to be
allocated to other departments in the FY2023 budget.
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.
No Change. Council gave no direction during the Fiscal
Policy update on reserves not in compliance.
No Change. Fiscal policies not in compliance will be
discussed with Council at the March 8 workshop on the
First Quarter Report.
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.
No Change. Council gave no direction during the Fiscal
Policy update on reserves not in compliance.
No Change. Fiscal policies not in compliance will be
discussed with Council at the March 8 workshop on the
First Quarter Report. The Facilities Department plans to
increase cost allocation rates in FY2023 budget in order
to build this reserve. Eric Johnson ‐
Through the budget process council approved 10% to
begin the increase in the Facilities Reserve Fund. 72
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 9/30/21 Status Updates ‐ 12/31/21
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.
No Change. No change. Staff recommends removing this item from
list since these funds are consistently built into base
budgets each year and are only reduced as a last resort in
unusual circumstances.
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.
FY2021 preliminary year‐end fund balance is estimated to
be $2.4 million. Council gave no direction during the
Fiscal Policy update on reserves not in compliance. In
FY2022, several staff and services re‐organizations are
shifting costs out of the Joint Services Fund and into the
General Fund and Water Fund. The allocation
methodology and reserve calculations will be updated.
These shifts will help reduce the burden on the unmet
reserve. The Cost Allocation Study results will be
presented to Council in early 2022, which options on how
to fully fund the reserve.
No Change. Fiscal policies not in compliance will be
discussed with Council at the March 8 workshop on the
First Quarter Report.73
