HomeMy WebLinkAboutFY 22 - 2nd_Qtr_Report_FY2022_RedactedQuarterly Financial Report
FINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended March 31, 2022
Table of Contents
General Fund Narrative and Schedule ........................................................................................................ 1-7
Electric Fund Narrative and Schedule....................................................................................................... 8-11
Water Services Fund Narrative and Schedule ........................................................................................ 12-15
Convention & Visitors Bureau Narrative and Schedule .......................................................................... 16-17
Airport Fund Narrative and Schedule ..................................................................................................... 18-20
Stormwater Fund Narrative and Schedule ............................................................................................. 21-23
GTEC Fund Narrative and Schedule ........................................................................................................ 24-26
GEDCO Fund Narrative and Schedule ..................................................................................................... 27-29
VPID Fund Narrative and Schedule ......................................................................................................... 30-31
Council Discretionary Fund Schedule .......................................................................................................... 32
Joint Services Fund Schedule ....................................................................................................................... 33
Investments 2nd Quarter Jan – Mar 22 ................................................................................................... 34-36
Quarterly Investment Report - City ........................................................................................................ 37-52
Quarterly Investment Report - GEDCO ................................................................................................... 53-58
Quarterly Investment Report - GTEC ...................................................................................................... 59-64
Grant Applications ....................................................................................................................................... 65
Capital Improvement Projects ................................................................................................................ 66-69
Long-term Commitments and Other Unfunded Liabilities ..................................................................... 70-74
Public Works personnel and operational expenditures for the quarter totals $865,707, which represents 43.45% of budget.
Year-to-date expenditures related to personnel and operations for Streets totals $1,673,643, 37.23% of budget.
FINANCE ADMINISTRATION DIVISION:
Municipal Court year-to-date expenses total $267,085, or 42.89% of budget. This spending includes $217,591 for
personnel costs and $49,494 for operational costs.
POLICE OPERATIONS DIVISION:
Police Operations saw personnel and operational expenditures through the quarter totals $8,165,488, or 47.35% of
budget. Police Administration expenditures through the quarter resulted in $1,285,507, or 45.49% of budget. Staff will
continue to monitor Police Department overtime through the development of the FY2023 budget.
FIRE AND EMS DIVISION:
Year-to-date personnel and operational expenditures through the quarter total $2,155,906, or 46.00% of budget for Fire
Support Services/Administration, $8,129,848, or 46.99% of budget for Fire Emergency Services, and $1,718,728, or
48.01% 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 $1,119,432, or 46.61% of budget year-to-date.
City Secretary personnel and operational expenditures for the quarter totals $480,523, which represents 41.31% of
budget. Year-to-date personnel and operational expenditures for Communications totals $419,261, which represents
38.12% of budget. The CAPE department experienced vacancy savings, as well as low year-to-date spending on a one-time
project.
Non-Departmental includes a transfer out of $1,004,160, or 66.34% 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 $99,091, or 46.36% of budget. Library year-to-date expenses
total $1,503,754, or 45.20% 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 $4,283,219,
or 42.83% of budget.
Parks year-to-date through the quarter totals $1,409,171, or 46.87% of budget. Recreation total expenses are $1,793,771,
which is 38.35% of budget. Garey Park year-to-date is $531,916, or 49.53% of budget.
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Quarterly Financial Report
Council Discretionary
Period: Mar-22 Budget Current Period
FY2022 Mar-22 YTD Actuals Variance % of Budget
Beginning Fund Balance 2,317,139 2,317,139 - 100.00%
Revenue
42001:Interest Income 150 0 0 (150) 0.08%
70001:Transfers In 2,670,950 - - (2,670,950) 0.00%
Total Revenue 2,671,100 0 0 (2,671,100) 0.00%
Expense
Transfers - - - - 0.00%
Total Expense - - - - 0.00%
Excess (Deficiency) of Total Revenue over Total
Requirements 2,671,100 0 0 (2,671,100) 0.00%
Ending Fund Balance 4,988,239 0 2,317,139 (2,671,100) 46.45%
Reserves
AFR Adjustment - - - -
Contingency Reserve - - - -
Debt Service Reserve - - - -
Reserves Total - - - -
Available Fund Balance 4,988,239 2,317,139 (2,671,100) 46.45%
Year-to-Date Actuals Budget Vs. Actuals
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Quarterly Financial Report
Joint Services
Period: Mar-22 Budget Current Period
FY2022 Mar-22 YTD Actuals
w/Encumbrances Variance % of Budget
Beginning Fund Balance 2,418,339 2,418,339 - 100.00%
Revenue
41002:Penalties - 2,574 16,877 16,877 0.00%
42001:Interest Income 6,250 898 2,290 (3,960) 36.65%
43001:Fees 11,600 3,750 14,010 2,410 120.78%
43004:Administrative Charges 20,945,621 1,797,981 10,787,887 (10,157,734) 51.50%
43005:Rental Revenue - - 100 100 0.00%
45001:Misc Revenue - - 300 300 0.00%
45002:Insurance Proceeds 100,000 16,543 95,709 (4,291) 95.71%
45003:Misc Reimbursements 120,000 12,510 23,603 (96,398) 19.67%
44502:Developer Contributions - - 0 0 0.00%
70001:Transfers In 1,597,491 - - (1,597,491) 0.00%
Revenue Total 22,780,962 1,834,257 10,940,776 (11,840,186) 48.03%
Expense
CC0001 Non-Departmental 1,079,500 163,332 935,830 143,670 86.69%
CC0302 Finance Administration 1,258,221 112,762 670,144 588,077 53.26%
CC0315 Accounting 1,610,064 123,730 692,663 917,401 43.02%
CC0316 Municipal Court - - - - 0.00%
CC0317 Purchasing 1,083,516 80,534 508,008 575,508 46.89%
CC0321 Utility Customer Service 1,083,714 314,702 1,184,749 (101,035) 109.32%
CC0322 Utility Customer Billing 1,314,893 179,377 695,218 619,675 52.87%
CC0324 Customer Admin & Data Analytics 4,808,701 36,539 1,672,034 3,136,667 34.77%
CC0503 Organizational and Operational Excellence 384,444 24,131 146,624 237,820 38.14%
CC0526 Systems Engineering 3,214,334 212,651 1,524,107 1,690,227 47.42%
CC0534 Conservation - 1,350 49,745 (49,745) 0.00%
CC0637 Economic Development 662,086 46,803 283,525 378,561 42.82%
CC0639 Human Resources 1,756,172 129,356 778,768 977,404 44.34%
CC0640 Citywide Human Resources 1,455,243 73,685 900,937 554,305 61.91%
CC0654 Legal 1,464,064 159,050 540,598 923,465 36.92%
CC0658 Real Estate Services 257,869 3,812 3,812 254,057 1.48%
Expense Total 21,432,821 1,661,813 10,586,762 10,846,059 49.40%
Excess (Deficiency) of Total Revenue over Total
Requirements 1,348,141 172,444 354,014 (994,127) 26.26%
Ending Fund Balance 3,766,480 2,772,353 (994,127) 73.61%
Reserves
Contingency Reserve 2,435,966 2,435,966 - 100.00%
Reserves Total 2,435,966 2,435,966 - 100.00%
Available Fund Balance 1,330,515 336,387 (994,128) 25.28%
Year-to-Date Actuals Budget Vs. Actuals
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Quarterly Financial Report
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 second quarter of
fiscal year 20 22 includes the m aturing , reinvesting , and new investments of
financial institution deposits (CDs). Interest rates continue to be low for
money market accounts, Treasury bills, and CD’s, but began to increase this
quarter after the FOMC met. Th e City is w orking to establish a safekeeping
account with Wells Fargo within the next quarter, so that we can begin
in vesting in securities again. Securities are trending higher than cd’s
currently for longer term investments. We continue to experience a decline
in the number of banks responding to our investm ent offerings.
The FOMC met on March 15th and 16th and announced the much-anticipated
increase in the Fed Funds Rate of 25 basis-points. They additionally reported
that they will announce a reduction in their balance sheet (i.e. sell securities
from their portfolio) at an upcoming meeting. Their overall assessment of the
economy was that it has continued to improve, but that inflation has risen
enough to warrant raising short-term interest rates. Th e City will continue
soliciting for the best rates to improve both diversity and yield, while keeping
in mind safety and liquidity.
The Investment Repo rts are for the quarter ending March 31, 2022. Valley
View Consulting, L.L.C., has prepared the attached investm ent reports. A
component of o ur investm e nt advisory services contract includes Valley View
preparing t he quarterly investment reports on behalf of th e City. A summary
of the investment balances as of March 31, 2022, compared to the prior
quarter, is shown below for the Cit y, as w ell as Georgetow n Transportation
Enhancem ent Corporation (GTEC) and Georgetow n Economic Development
Corporation (GEDCO ). Included in the City p ortfolio are debt service,
consolidated funds, and bond proceed s. Th e breakdown of the City’s
p ortfo lio is consolidated at 72%, debt service at 5%, and bond proceeds/grants
at 23%.
Th e City p ortfolio increased during this quarter, due to property tax payment
revenue. Th e GTEC and GEDCO portfolios decreased due to debt service
intere st payments in February, large capital project payments, and e conomic
development agreement payments. The average yield increased on all
portfolios due to increased rates in our pools and newly p urchased cd’s.
34
Quarterly Financial Report
CITY Book Va lu e GTEC GEDCO
12 /31/21 3/31/22 12 /31/21 3/31/22 12 /31/21 3/31/22
Total cash
and
investments
$4 13 ,5 0 7 ,19 7 $445,453,842 $41,274,830 $35,315,924 $10 ,6 2 4 ,975 $8,740,959
Quarter
End
Averag e
Yie ld
.13% .37% .04 % .15 % .08 % .19 %
Th e Cit y’s stra tegy contin ues to be matching m aturities with cash flow needs, while
focusing on the investment policy’s long -range goals. The City’s investment strategy
is to “ladder” or stagger m aturities, thus minimizing erratic in terest rate fluctuation s.
Th e City is continuing to manage the yie ld on bond proceeds for arbitrage purposes.
The City’s investment portfolio generally includes bank deposits, local government
investment pool balan c es, money market accounts, and financial institution deposits
(CD ’s ). All of these invest m ents m eet the safety requirements of th e PFIA. Local
Government Investment Pools must m aintain a rating of AAAm , Secu rities (Treasury
Bills) must have direct or im plied backing of the Federal Government and Financial
Institution Deposit s (CDs and m oney m arket accounts) must be collateralized w ith
FDIC insurance or obligations with an implied backing from the Federal
Governm ent. The collateral on all City investments a re m onitored m onthly to ensure
the financial institutions c arry m inim um collateral of 100% with a letter of credit or
10 2 % with pledged securities for all of the City’s investments. All securities he ld by
fin ancial institutions as collateral on behalf of the City have been reviewed and met
PFIA-minimum rating criteria.
Th e City is currently transitioning the depository bank contract from Chase to Wells
Fargo. Staff will work with Wells Fargo to find an average daily balance that is b est to
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Quarterly Financial Report
receive the hig h est yield on the account. These balances earn credit against the fees
charg ed by the bank. Th e City will continue to verify d epository yield versus
in vestment yield to achieve the best outcome.
III. CAPITAL IMPROVEMENT P ROJECTS
A fina n cial sum m ary of capital improvement projects is attached to this rep ort. Th is
report provides a Life -to-Date picture of all active projects since many capital
projects take m ultiple fiscal ye ars to construct to completion. With our growing
capital in frastructure im plem entation portfolio due to demand for transportation
and water services, City staff have formed two working groups with the goal of
im proving work capacity and efficiencies, and ultim ately custom er service, related to
capital projects. One group is focused on increm entally improving capital project
reporting internally and externally citywide – including financial inform ation as well
as scheduling , geographic location, and other inform ation. Th e s econd group is
focused on the re-o rganization of development-related capital im provem ents
delivered by Systems Engineering. Both groups will continue working through
FY2022.
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Quarterly Financial Report
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Demand Accounts 21,185,795$ 21,185,795 22,627,370$ 22,627,370$ 0.23%
NOW/MMA 23,057,882 23,057,882 11,053,426 11,053,426 0.45%
Pools 205,062,610 205,062,610 176,478,474 176,478,474 0.12%
CDs/Securities 164,200,910 164,200,910 235,294,573 235,294,573 0.57%Totals 413,507,197$ 413,507,197$ 445,453,842$ 445,453,842$ 0.37%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.37%Total Portfolio 0.25%
Rolling Three Month Treasury 0.31%Rolling Three Month Treasury 0.18%
Rolling Six Month Treasury 0.36%Rolling Six Month Treasury 0.22%
TexPool 0.15%TexPool 0.10%
Bank Fees Offset
12,530$
Interest earnings provided in separate report.24,617$
December 31, 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
March 31, 2022
City of Georgetown Valley View Consulting, L.L.C.
38
Quarterly Financial Report
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%04/01/22 03/31/22 22,627,370$ 22,627,370$ 1.00 22,627,370$ 1 0.23%
JPMorgan Chase MMA 0.03%04/01/22 03/31/22 434,178 434,178 1.00 434,178 1 0.03%
Veritex Community Bank MMA 0.27%04/01/22 03/31/22 3,216,296 3,216,296 1.00 3,216,296 1 0.27%
NexBank MMA 0.55%04/01/22 03/31/22 7,402,952 7,402,952 1.00 7,402,952 1 0.55%
TexPool AAAm 0.15%04/01/22 03/31/22 60,684,122 60,684,122 1.00 60,684,122 1 0.15%
TexSTAR AAAm 0.11%04/01/22 03/31/22 115,794,352 115,794,352 1.00 115,794,352 1 0.11%
Prosperity Bank CD 0.35%04/21/22 10/21/20 2,512,394 2,512,394 100.00 2,512,394 21 0.35%
Independent Bank CD 0.30%04/22/22 04/22/21 4,221,377 4,221,377 100.00 4,221,377 22 0.30%
Independent Bank CD 0.35%05/09/22 02/08/21 4,014,018 4,014,018 100.00 4,014,018 39 0.35%
Prosperity Bank CD 0.35%05/17/22 11/17/20 2,009,319 2,009,319 100.00 2,009,319 47 0.35%
Prosperity Bank CD 0.20%06/13/22 06/11/21 5,007,484 5,007,484 100.00 5,007,484 74 0.20%
East West Bank CD 0.18%06/20/22 12/20/21 2,501,258 2,501,258 100.00 2,501,258 81 0.18%
East West Bank CD 0.18%06/20/22 12/20/21 3,001,509 3,001,509 100.00 3,001,509 81 0.18%
East West Bank CD 0.18%06/20/22 12/20/21 2,501,258 2,501,258 100.00 2,501,258 81 0.18%
Prosperity Bank CD 0.20%07/01/22 07/01/21 4,029,448 4,029,448 100.00 4,029,448 92 0.20%
Prosperity Bank CD 0.20%07/25/22 04/23/21 5,009,158 5,009,158 100.00 5,009,158 116 0.20%
Prosperity Bank CD 0.20%08/01/22 05/25/21 5,008,335 5,008,335 100.00 5,008,335 123 0.20%
East West Bank CD 0.45%08/01/22 02/01/22 2,002,920 2,002,920 100.00 2,002,920 123 0.45%
East West Bank CD 0.53%08/10/22 02/10/22 3,002,179 3,002,179 100.00 3,002,179 132 0.53%
East West Bank CD 0.17%08/15/22 11/15/21 4,002,553 4,002,553 100.00 4,002,553 137 0.17%
Prosperity Bank CD 0.35%08/22/22 11/20/20 2,511,649 2,511,649 100.00 2,511,649 144 0.35%
Prosperity Bank CD 0.20%09/12/22 06/11/21 5,007,484 5,007,484 100.00 5,007,484 165 0.20%
East West Bank CD 0.26%09/20/22 12/20/21 2,001,454 2,001,454 100.00 2,001,454 173 0.26%
Independent Bank CD 0.30%10/18/22 10/18/21 2,558,726 2,558,726 100.00 2,558,726 201 0.30%
Prosperity Bank CD 0.20%10/24/22 04/23/21 5,009,158 5,009,158 100.00 5,009,158 207 0.20%
East West Bank CD 0.21%11/15/22 11/15/21 10,007,885 10,007,885 100.00 10,007,885 229 0.21%
Prosperity Bank CD 0.40%11/17/22 11/17/20 2,010,654 2,010,654 100.00 2,010,654 231 0.40%
Prosperity Bank CD 0.15%11/23/22 08/23/21 2,001,743 2,001,743 100.00 2,001,743 237 0.15%
Prosperity Bank CD 0.15%12/21/22 09/21/21 5,003,720 5,003,720 100.00 5,003,720 265 0.15%
East West Bank CD 1.06%12/26/22 03/25/22 12,002,440 12,002,440 100.00 12,002,440 270 1.07%
R Bank CD 0.60%12/31/22 06/30/21 1,004,514 1,004,514 100.00 1,004,514 275 0.60%
East West Bank CD 0.42%01/09/23 01/07/22 5,015,327 5,015,327 100.00 5,015,327 284 0.42%
East West Bank CD 0.51%01/20/23 01/20/22 10,009,925 10,009,925 100.00 10,009,925 295 0.51%
East West Bank CD 0.83%02/08/23 02/08/22 8,009,465 8,009,465 100.00 8,009,465 314 0.83%
Bank OZK CD 0.18%02/23/23 08/23/21 4,204,417 4,204,417 100.00 4,204,417 329 0.18%
East West Bank CD 1.19%02/27/23 02/25/22 20,022,835 20,022,835 100.00 20,022,835 333 1.20%
March 31, 2022
City of Georgetown Valley View Consulting, L.L.C.
40
Quarterly Financial Report
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
March 31, 2022
Veritex Community Bank CD 0.18%03/09/23 09/09/21 4,003,572 4,003,572 100.00 4,003,572 343 0.18%
East West Bank CD 1.15%03/14/23 03/14/22 15,008,509 15,008,509 100.00 15,008,509 348 1.16%
East West Bank CD 1.29%03/27/23 03/25/22 25,006,186 25,006,186 100.00 25,006,186 361 1.30%
Prosperity Bank CD 0.20%04/24/23 04/23/21 5,009,158 5,009,158 100.00 5,009,158 389 0.20%
Prosperity Bank CD 0.20%05/01/23 05/25/21 5,008,335 5,008,335 100.00 5,008,335 396 0.20%
Bank OZK CD 0.20%06/12/23 06/11/21 5,018,797 5,018,797 100.00 5,018,797 438 0.20%
R Bank CD 0.73%06/30/23 06/30/21 1,005,475 1,005,475 100.00 1,005,475 456 0.73%
Bank OZK CD 0.21%08/14/23 11/12/21 5,003,469 5,003,469 100.00 5,003,469 501 0.21%
Veritex Community Bank CD 0.25%09/25/23 09/24/21 10,012,404 10,012,404 100.00 10,012,404 543 0.25%
Bank OZK CD 0.20%10/09/23 10/08/21 5,004,159 5,004,159 100.00 5,004,159 557 0.20%
Bank OZK CD 0.30%11/13/23 11/12/21 10,009,900 10,009,900 100.00 10,009,900 592 0.30%
TOTALS 445,453,842$ 445,453,842$ 445,453,842$ 156 0.37%
(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.
41
Quarterly Financial Report
City - Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
12/31/21 Increases Decreases Book Value
03/31/22
Market Value
12/31/21
Change in
Market Value
Market Value
03/31/22
JPMorgan Chase Cash 0.23%04/01/22 21,185,795$ 1,441,575$ –$ 22,627,370$ 21,185,795$ 1,441,575$ 22,627,370$
JPMorgan Chase MMA 0.03%04/01/22 434,146 32 – 434,178 434,146 32 434,178
Veritex Community Bank M 0.27%04/01/22 3,215,361 935 – 3,216,296 3,215,361 935 3,216,296
NexBank MMA 0.55%04/01/22 7,395,351 7,601 – 7,402,952 7,395,351 7,601 7,402,952
Texas Capital Bank MMA 0.20%04/01/22 12,013,024 – (12,013,024) – 12,013,024 (12,013,024) –
TexPool 0.15%04/01/22 95,641,577 – (34,957,455) 60,684,122 95,641,577 (34,957,455) 60,684,122
TexSTAR 0.11%04/01/22 109,421,033 6,373,318 – 115,794,352 109,421,033 6,373,318 115,794,352
East West Bank CD 0.21%01/07/22 5,010,309 – (5,010,309) – 5,010,309 (5,010,309) –
Prosperity Bank CD 0.30%01/21/22 4,014,022 – (4,014,022) – 4,014,022 (4,014,022) –
East West Bank CD 0.10%02/01/22 2,001,294 – (2,001,294) – 2,001,294 (2,001,294) –
Independent Bank CD 0.40%02/05/22 3,008,963 – (3,008,963) – 3,008,963 (3,008,963) –
Independent Bank CD 0.40%02/08/22 5,014,919 – (5,014,919) – 5,014,919 (5,014,919) –
Prosperity Bank CD 0.15%02/10/22 3,003,738 – (3,003,738) – 3,003,738 (3,003,738) –
R Bank CD 0.63%02/25/22 2,009,446 – (2,009,446) – 2,009,446 (2,009,446) –
Prosperity Bank CD 0.15%03/21/22 5,001,870 – (5,001,870) – 5,001,870 (5,001,870) –
Prosperity Bank CD 0.35%04/21/22 2,510,227 2,167 – 2,512,394 2,510,227 2,167 2,512,394
Independent Bank CD 0.30%04/22/22 4,218,187 3,190 – 4,221,377 4,218,187 3,190 4,221,377
Independent Bank CD 0.35%05/09/22 4,010,480 3,538 – 4,014,018 4,010,480 3,538 4,014,018
Prosperity Bank CD 0.35%05/17/22 2,007,586 1,733 – 2,009,319 2,007,586 1,733 2,009,319
Prosperity Bank CD 0.20%06/13/22 5,005,016 2,469 – 5,007,484 5,005,016 2,469 5,007,484
East West Bank CD 0.18%06/20/22 2,500,148 1,110 – 2,501,258 2,500,148 1,110 2,501,258
East West Bank CD 0.18%06/20/22 3,000,178 1,332 – 3,001,509 3,000,178 1,332 3,001,509
East West Bank CD 0.18%06/20/22 2,500,148 1,110 – 2,501,258 2,500,148 1,110 2,501,258
Prosperity Bank CD 0.20%07/01/22 4,027,396 2,053 – 4,029,448 4,027,396 2,053 4,029,448
Prosperity Bank CD 0.20%07/25/22 5,006,689 2,469 – 5,009,158 5,006,689 2,469 5,009,158
Prosperity Bank CD 0.20%08/01/22 5,005,866 2,469 – 5,008,335 5,005,866 2,469 5,008,335
East West Bank CD 0.45%08/01/22 – 2,002,920 – 2,002,920 – 2,002,920 2,002,920
East West Bank CD 0.53%08/10/22 – 3,002,179 – 3,002,179 – 3,002,179 3,002,179
East West Bank CD 0.17%08/15/22 4,000,876 1,677 – 4,002,553 4,000,876 1,677 4,002,553
Prosperity Bank CD 0.35%08/22/22 2,509,483 2,166 – 2,511,649 2,509,483 2,166 2,511,649
Prosperity Bank CD 0.20%09/12/22 5,005,016 2,469 – 5,007,484 5,005,016 2,469 5,007,484
East West Bank CD 0.26%09/20/22 2,000,171 1,283 – 2,001,454 2,000,171 1,283 2,001,454
Independent Bank CD 0.30%10/18/22 2,556,793 1,933 – 2,558,726 2,556,793 1,933 2,558,726
Prosperity Bank CD 0.20%10/24/22 5,006,689 2,469 – 5,009,158 5,006,689 2,469 5,009,158
East West Bank CD 0.21%11/15/22 10,002,704 5,181 – 10,007,885 10,002,704 5,181 10,007,885
Prosperity Bank CD 0.40%11/17/22 2,008,672 1,982 – 2,010,654 2,008,672 1,982 2,010,654
Prosperity Bank CD 0.15%11/23/22 2,001,003 740 – 2,001,743 2,001,003 740 2,001,743
Prosperity Bank CD 0.15%12/21/22 5,001,870 1,850 – 5,003,720 5,001,870 1,850 5,003,720
East West Bank CD 1.07%12/26/22 – 12,002,440 – 12,002,440 – 12,002,440 12,002,440
City of Georgetown Valley View Consulting, L.L.C.
43
Quarterly Financial Report
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 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
JPMorgan Chase Cash 22,627,370$ 22,627,370$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,178 434,178 – – – – – – – –
Veritex Community Bank MMA 3,216,296 3,216,296 – – – – – – – –
NexBank MMA 7,402,952 7,402,952 – – – – – – – –
TexPool 60,684,122 60,684,122 – – – – – – – –
TexSTAR 115,794,352 20,117,827 464,960 22,257,135 137,333 6,667 1,530,963 1,532,128 - 1,416,343
Prosperity Bank CD 04/21/22 2,512,394 2,512,394 – – – – – – – –
Independent Bank CD 04/22/22 4,221,377 4,221,377 – – – – – – – –
Independent Bank CD 05/09/22 4,014,018 4,014,018 – – – – – – – –
Prosperity Bank CD 05/17/22 2,009,319 2,009,319 – – – – – – – –
Prosperity Bank CD 06/13/22 5,007,484 5,007,484 – – – – – – – –
East West Bank CD 06/20/22 2,501,258 – – – – – – – – – East West Bank CD 06/20/22 3,001,509 – – – – – – – – –
East West Bank CD 06/20/22 2,501,258 – – – – – – – – –
Prosperity Bank CD 07/01/22 4,029,448 4,029,448 – – – – – – – –
Prosperity Bank CD 07/25/22 5,009,158 5,009,158 – – – – – – – –
Prosperity Bank CD 08/01/22 5,008,335 5,008,335 – – – – – – – –
East West Bank CD 08/01/22 2,002,920 – – – – – – – – –
East West Bank CD 08/10/22 3,002,179 – – – – – – – – –
East West Bank CD 08/15/22 4,002,553 – – – – – – – – –
Prosperity Bank CD 08/22/22 2,511,649 2,511,649 – – – – – – – –
Prosperity Bank CD 09/12/22 5,007,484 5,007,484 – – – – – – – –
East West Bank CD 09/20/22 2,001,454 – – – – – – – – –
Independent Bank CD 10/18/22 2,558,726 2,558,726 – – – – – – – –
Prosperity Bank CD 10/24/22 5,009,158 5,009,158 – – – – – – – –
East West Bank CD 11/15/22 10,007,885 – – – – – – – – –
Prosperity Bank CD 11/17/22 2,010,654 2,010,654 – – – – – – – –
Prosperity Bank CD 11/23/22 2,001,743 2,001,743 – – – – – – – –
Prosperity Bank CD 12/21/22 5,003,720 5,003,720 – – – – – – – –
East West Bank CD 12/26/22 12,002,440 12,002,440 – – – – – – – –
R Bank CD 12/31/22 1,004,514 1,004,514 – – – – – – – –
East West Bank CD 01/09/23 5,015,327 5,015,327 – – – – – – – –
East West Bank CD 01/20/23 10,009,925 10,009,925 – – – – – – – –
East West Bank CD 02/08/23 8,009,465 8,009,465 – – – – – – – –
Bank OZK CD 02/23/23 4,204,417 4,204,417 – – – – – – – –
East West Bank CD 02/27/23 20,022,835 20,022,835 – – – – – – – –
Veritex Community Bank CD 03/09/23 4,003,572 4,003,572 – – – – – – – – East West Bank CD 03/14/23 15,008,509 15,008,509 – – – – – – – –
East West Bank CD 03/27/23 25,006,186 25,006,186 – – – – – – – –
Prosperity Bank CD 04/24/23 5,009,158 5,009,158 – – – – – – – –
Prosperity Bank CD 05/01/23 5,008,335 5,008,335 – – – – – – – –
Bank OZK CD 06/12/23 5,018,797 5,018,797 – – – – – – – –
R Bank CD 06/30/23 1,005,475 1,005,475 – – – – – – – –
Bank OZK CD 08/14/23 5,003,469 5,003,469 – – – – – – – –
Veritex Community Bank CD 09/25/23 10,012,404 10,012,404 – – – – – – – –
Bank OZK CD 10/09/23 5,004,159 5,004,159 – – – – – – – –
Bank OZK CD 11/13/23 10,009,900 10,009,900 – – – – – – – –
Totals 445,453,842$ 320,756,302$ 464,960$ 22,257,135$ 137,333$ 6,667$ 1,530,963$ 1,532,128$ –$ 1,416,343$
Book & Market Value
March 31, 2022
City of Georgetown Valley View Consulting, L.L.C.
45
Quarterly Financial Report
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
TexPool
TexSTAR
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 08/01/22
East West Bank CD 08/10/22
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
East West Bank CD 12/26/22
R Bank CD 12/31/22
East West Bank CD 01/09/23
East West Bank CD 01/20/23
East West Bank CD 02/08/23
Bank OZK CD 02/23/23
East West Bank CD 02/27/23
Veritex Community Bank CD 03/09/23
East West Bank CD 03/14/23
East West Bank CD 03/27/23
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
March 31, 2022
(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 CO-
Stormwater
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
86,755 4,345 97,402 8,172,513 56,711 389,666 284,585 1,826,844 3,682,705 –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – 2,501,258 –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – 3,002,179 – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
86,755$ 4,345$ 97,402$ 11,174,692$ 56,711$ 389,666$ 284,585$ 1,826,844$ 6,183,963$ -$
City of Georgetown Valley View Consulting, L.L.C.
46
Quarterly Financial Report
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
TexPool
TexSTAR
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 08/01/22
East West Bank CD 08/10/22
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
East West Bank CD 12/26/22
R Bank CD 12/31/22
East West Bank CD 01/09/23
East West Bank CD 01/20/23
East West Bank CD 02/08/23
Bank OZK CD 02/23/23
East West Bank CD 02/27/23
Veritex Community Bank CD 03/09/23
East West Bank CD 03/14/23
East West Bank CD 03/27/23
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
March 31, 2022
(Continued)
2019 GO-
Roads
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
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
2,752,717 844,405 359,409 5,241,238 595,592 4,088,401 700,120 3,220,386 1,000,171 5,500,304 1,475,837
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – 3,001,509 – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – 2,002,920 – – – – – – –
– – – – – – – – – – –
– – – – – – – 4,002,553 – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
2,752,717$ 844,405$ 359,409$ 7,244,157$ 595,592$ 4,088,401$ 700,120$ 10,224,449$ 1,000,171$ 5,500,304$ 1,475,837$
City of Georgetown Valley View Consulting, L.L.C.
47
Quarterly Financial Report
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
TexPool
TexSTAR
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 08/01/22
East West Bank CD 08/10/22
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
East West Bank CD 12/26/22
R Bank CD 12/31/22
East West Bank CD 01/09/23
East West Bank CD 01/20/23
East West Bank CD 02/08/23
Bank OZK CD 02/23/23
East West Bank CD 02/27/23
Veritex Community Bank CD 03/09/23
East West Bank CD 03/14/23
East West Bank CD 03/27/23
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
March 31, 2022
(Continued)
City - 2021A
CO
Water/WW
City - 2021A
GO Roads
City -
American
Rescue Plan
–$ –$ –$
– – –
– – –
– – –
– – –
10,172,370 13,922,893 3,855,626
– – –
– – –
– – –
– – –
– – –
– – –
– – –
2,501,258 – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– 2,001,454 –
– – –
– – –
– 10,007,885 –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
12,673,628$ 25,932,232$ 3,855,626$
City of Georgetown Valley View Consulting, L.L.C.
48
Quarterly Financial Report
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$
December 31, 2021
Book & Market Value
City of Georgetown Valley View Consulting, L.L.C.
49
Quarterly Financial Report
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
December 31, 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
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
246,585 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.
50
Quarterly Financial Report
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
December 31, 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
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
1,154,776 390,295 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.
51
Quarterly Financial Report
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
December 31, 2021
Book & Market Value
(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.
52
Quarterly Financial Report
Georgetown Economic Development Corporation (GEDCO)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
March 31, 2022
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.
53
Quarterly Financial Report
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,132,009$ 2,132,009$ 2,132,629$ 2,132,629$ 0.27%
Pools 6,489,373 6,489,373 4,603,525 4,603,525 0.12%
Certificates of Deposit 2,003,592 2,003,592 2,004,804 2,004,804 0.24%
10,624,975$ 10,624,975$ 8,740,959$ 8,740,959$ 0.19%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.19%Total Portfolio 0.13%
Rolling Three Month Treasury 0.31%Rolling Three Month Treasury 0.18%
Rolling Six Month Treasury 0.36%Rolling Six Month Treasury 0.22%
TexPool 0.15%TexPool 0.10%
Interest income provided in separate report.
December 31, 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.
March 31, 2022
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.
54
Quarterly Financial Report
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 0.27%04/01/22 03/31/22 2,132,629$ 2,132,629$ 1.00 2,132,629$ 1 0.27%
TexasDAILY AAAm 0.14%04/01/22 03/31/22 2,126,329 2,126,329 1.00 2,126,329 1 0.14%
TexSTAR AAAm 0.11%04/01/22 03/31/22 2,477,196 2,477,196 1.00 2,477,196 1 0.11%
Veritex Bank CD 0.24%8/5/2022 02/08/21 2,004,804 2,004,804 100.00 2,004,804 127 0.24%
8,740,959$ 8,740,959$ 8,740,959$ 30 0.19%
(1)(2)
March 31, 2022
(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.
56
Quarterly Financial Report
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Pools/MMAs 38,261,243$ 38,261,243$ 32,301,223$ 32,301,223$ 0.15%
CDs/Securities 3,013,586 3,013,586 3,014,701 3,014,701 0.15%Totals 41,274,830$ 41,274,830$ 35,315,924$ 35,315,924$ 0.15%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.15%Total Portfolio 0.10%
Rolling Three Month Treasury 0.31%Rolling Three Month Treasury 0.18%
Rolling Six Month Treasury 0.36%Rolling Six Month Treasury 0.22%
TexPool 0.15%TexPool 0.10%
Interest data provided in separate report.
December 31, 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.
March 31, 2022
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.
60
Quarterly Financial Report
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%04/01/22 03/31/22 19,470,940$ 19,470,940$ 1.00 19,470,940$ 1 0.15%
TexSTAR AAAm 0.11%04/01/22 03/31/22 10,139,296 10,139,296 1.00 10,139,296 1 0.11%
Veritex Bank MMA 0.27%04/01/22 03/31/22 2,690,987 2,690,987 1.00 2,690,987 1 0.27%
Prosperity Bank CD 0.15%08/23/22 08/23/21 3,014,701 3,014,701 100.00 3,014,701 145 0.15%
TOTALS 35,315,924$ 35,315,924$ 35,315,924$ 13 0.15%
(1)(2)
March 31, 2022
(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.
62
Quarterly Financial Report
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 487,552.14 104,863.77
Library Texas Commission on the Arts Downtown Cultural District
Grant
7,350.00 104,500.00
Planning US Department of Housing & Urban Development Williamson County CDBG 21st St Infrastructure 14,521.50 14,521.50
Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair 71,138.01 71,138.01
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 March 31, 2022
Active
Applications Pending Award
Under FEMA Review
65
Quarterly Financial Report
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 12/31/21 Status Updates ‐ 03/31/22
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.
No Change. Fiscal policies not in compliance will be
discussed with Council at the March 8 workshop on the
First Quarter Report.
No change. Council gave no direction on cemetery fund
during March 8 workshop.
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.
The City's FY2021 year‐end unfunded liability was
estimated at $21.5M. This increase in liability is due to a
change in the actuarial assumptions. The plan is 89.2%
funded, which is an excellent funding ratio. The funded
ratio has steadily increased from the low 80's over the
past 5 years.
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 9/30/21 is $4.9 million.No change. This report is conducted bi‐annually.
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 9/30/21 are $8.4 million. No change. This calculation is performed once annually.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
03/31/2022
70
Quarterly Financial Report
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 12/31/21 Status Updates ‐ 03/31/22
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.
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.
All reserves are fully funded currently, as well as
projected to be fully funded in the 5‐year financial model
used in the cost of service study. Recommend removing
this item from the unfunded liabilities list.
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.
No Change No change
71
Quarterly Financial Report
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 12/31/21 Status Updates ‐ 03/31/22
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 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.
Old Town NE Sidewalk ‐ Contractor has completed 95%
of the project. All sidewalk and pedestrian ramps are in
place. TDLR inspection and walk‐through to be completed
in Mid‐May. Contractor to address any punch list items.
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.
No Change 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.
The replacement count for FY2022 will be finalized and
sent to GGAF for approval in April.
Approximately $570,000 is needed to finish this project in
FY2023. This will be included in the proposed budget.
72
Quarterly Financial Report
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 12/31/21 Status Updates ‐ 03/31/22
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.
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.
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.
Once the FY2021 audit was completed, the IT Fund was
confirmed to have enough one‐time savings in fund
balance to cover the final installment of the asset.
Accounting department completed this transfer on the
balance sheet in FY2022. The IT Allocation will be reduced
to reflect this update in the FY2023 budget. Recommend
removing this unfunded liability from the list.
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. Fiscal policies not in compliance will be
discussed with Council at the March 8 workshop on the
First Quarter Report.
Council fully funded this reserve during the FY2022 mid‐
year budget amendment with one‐time savings from
FY2021. Recommend removing this unfunded liability
from the list.
73
Quarterly Financial Report
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 12/31/21 Status Updates ‐ 03/31/22
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. 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.
Council fully funded this reserve during the FY2022 mid‐
year budget amendment with one‐time savings from
FY2021. Recommend removing this unfunded liability
from the list.
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.
No Change. Fiscal policies not in compliance will be
discussed with Council at the March 8 workshop on the
First Quarter Report.
Council fully funded this reserve during the FY2022 mid‐
year budget amendment with one‐time savings from
FY2021. Recommend removing this unfunded liability
from the list.
74