HomeMy WebLinkAboutFY 22 - 4th_Qtr_Report_FY2022_RedactedFINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended September 30, 2022
Table of Contents
Executive Summary .......................................................................................................................................... 2
General Fund .................................................................................................................................................... 2
Electric Fund ................................................................................................................................................... 15
Water Services Fund ...................................................................................................................................... 22
Tourism Fund ................................................................................................................................................. 28
Airport Fund ................................................................................................................................................... 31
Stormwater Fund ........................................................................................................................................... 35
Georgetown Transportation Enhancement Corporation Fund ..................................................................... 40
Georgetown Economic Development Corporation Fund .............................................................................. 44
Village PID Fund Schedule .............................................................................................................................. 48
Council Discretionary Fund Schedule ............................................................................................................ 50
Joint Services Fund Schedule ......................................................................................................................... 51
Quarterly Investment Report ‐ City ............................................................................................................... 52
Quarterly Investment Report ‐ GEDCO .......................................................................................................... 74
Quarterly Investment Report ‐ GTEC ............................................................................................................. 81
Grant Applications .......................................................................................................................................... 88
Capital Improvement Projects ....................................................................................................................... 89
Long‐term Commitments and Other Unfunded Liabilities ............................................................................ 93
EXECUTIVE SUMMARY FOR THE QUARTER ENDED SEPT. 30, 2022
I. QUARTERLY FINANCIAL ANALYSIS
Each year, the City amends the budget for multi-year capital projects, as well as operational
changes that were unknown at the time the budget was adopted. The Fourth Quarter Report
Approved Budget includes Capital Project Roll Forward and Operational Amendments as well as
a 3% salary increase approved by Council in January and March and the mid-year amendment
approved in May. Furthermore, this report compares actuals to budget, the performance of
current actuals to actuals of the same quarter in the previous year, and actuals to projections. Q4
figures are preliminary and unaudited. Staff will complete the annual Audit and will bring back
certified numbers to Council in early 2023.
GENERAL FUND REVENUES:
General Fund revenues total $103,248,435, or 111.64% of budget through the end of the quarter. Revenues are
greater than last year’s same quarter total by $12,572,944, or 13.87%. The City continues to see a strong
performance in revenue, particularly in planning fees, permitting, and sales tax.
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY2021
YTD Actuals:
Q4 FY2022 Variance % of Budget Variance % Variance
Revenue
40001:Property Taxes 17,100,000 15,893,725 16,823,859 (276,141) 98.39% 930,135 5.85%
40002:Sales Taxes 25,033,760 23,895,422 28,335,537 3,301,777 113.19% 4,440,115 18.58%
40005:Franchise Taxes 6,266,830 6,183,295 7,029,731 762,901 112.17% 846,436 13.69%
40008:Other Taxes 420,000 481,489 619,665 199,665 147.54% 138,176 28.70%
41001:Fines 311,150 270,205 274,231 (36,919) 88.13% 4,026 1.49%
41002:Penalties 85,000 104,967 121,636 36,636 143.10% 16,669 15.88%
42001:Interest Income 80,000 81,050 241,536 161,536 301.92% 160,486 198.01%
43001:Fees 8,446,834 7,532,037 9,843,730 1,396,896 116.54% 2,311,693 30.69%
43002:Garbage Charges 10,600,000 10,867,148 11,851,567 1,251,567 111.81% 984,419 9.06%
43003:Permits 5,274,750 4,781,179 5,928,333 653,583 112.39% 1,147,154 23.99%
43004:Administrative Charges 2,725,367 3,392,501 2,723,941 (1,426) 99.95% (668,560) -19.71%
43005:Rental Revenue 54,040 199,449 174,812 120,772 323.49% (24,637) -12.35%
45001:Misc Revenue 855,935 717,891 839,010 (16,925) 98.02% 121,119 16.87%
45002:Insurance Proceeds 50,338 - 50,338 - 100.00% 50,338 0.00%
45003:Misc Reimbursements 15,000 13,521 15,615 615 104.10% 2,094 15.49%
45004:Sale of Property - - 3,400 3,400 0.00% 3,400 0.00%
45005:Gain/Loss on Sale of
Assets - - 77 77 0.00% 77 0.00%
44001:Grant Revenue 185,000 914,494 416,949 231,949 225.38% (497,545) -54.41%
44501:Contribution Revenue - - - - 0.00% - 0.00%
44502:Developer Contributions - 229,682 1,929,900 1,929,900 0.00% 1,700,218 740.25%
44503:Interlocal Agreement
Revenue 5,700,557 5,093,767 5,659,226 (41,331) 99.27% 565,460 11.10%
44504:Donations - 6,238 10,061 10,061 0.00% 3,823 61.29%
70001:Transfers In 410,407 995,302 442,528 32,121 107.83% (552,774) -55.54%
70002:Transfers In - Payment
in Lieu of Taxes (PILOT) 8,871,270 9,022,128 9,912,752 1,041,482 111.74% 890,624 9.87%
Revenue Total 92,486,238 90,675,491 103,248,435 10,762,197 111.64% 12,572,944 13.87%
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FY2022 REVENUE PROJECTIONS:
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY2022 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Revenue
40001:Property Taxes 17,100,000 16,823,859 (276,141) 98.39% 17,131,000 (307,141) 98.21%
40002:Sales Taxes 25,033,760 28,335,537 3,301,777 113.19% 28,474,194 (138,657) 99.51%
40005:Franchise Taxes 6,266,830 7,029,731 762,901 112.17% 6,731,346 298,385 104.43%
40008:Other Taxes 420,000 619,665 199,665 147.54% 563,765 55,900 109.92%
41001:Fines 311,150 274,231 (36,919) 88.13% 276,250 (2,019) 99.27%
41002:Penalties 85,000 121,636 36,636 143.10% 109,165 12,471 111.42%
42001:Interest Income 80,000 241,536 161,536 301.92% 100,000 141,536 241.54%
43001:Fees 8,446,834 9,843,730 1,396,896 116.54% 8,340,896 1,502,834 118.02%
43002:Garbage Charges 10,600,000 11,851,567 1,251,567 111.81% 11,519,176 332,391 102.89%
43003:Permits 5,274,750 5,928,333 653,583 112.39% 5,365,500 562,833 110.49%
43004:Administrative Charges 2,725,367 2,723,941 (1,426) 99.95% 2,725,367 (1,426) 99.95%
43005:Rental Revenue 54,040 174,812 120,772 323.49% 103,147 71,665 169.48%
45001:Misc Revenue 855,935 839,010 (16,925) 98.02% 825,220 13,790 101.67%
45002:Insurance Proceeds 50,338 50,338 - 100.00% 50,338 - 100.00%
45003:Misc Reimbursements 15,000 15,615 615 104.10% 3,000 12,615 520.51%
45004:Sale of Property - 3,400 3,400 0.00% 3,321 79 102.38%
45005:Gain/Loss on Sale of
Assets - 77 77 0.00% - 77 0.00%
44001:Grant Revenue 185,000 416,949 231,949 225.38% 389,840 27,109 106.95%
44501:Contribution Revenue - - - 0.00% 297 (297) 0.00%
44502:Developer Contributions - 1,929,900 1,929,900 0.00% 1,929,130 770 100.04%
44503:Interlocal Agreement
Revenue 5,700,557 5,659,226 (41,331) 99.27% 5,700,557 (41,331) 99.27%
44504:Donations - 10,061 10,061 0.00% - 10,061 0.00%
70001:Transfers In 410,407 442,528 32,121 107.83% 410,407 32,121 107.83%
70002:Transfers In - Payment
in Lieu of Taxes (PILOT) 8,871,270 9,912,752 1,041,482 111.74% 9,278,397 634,355 106.84%
Revenue Total 92,486,238 103,248,435 10,762,197 111.64% 100,030,313 3,218,122 103.22%
Total revenues were projected to end at $100,030,313. Through the quarter, actuals are 103.22% of
total projections.
GENERAL FUND EXPENSES:
Annual expenses through the quarter total $94,440,659, or 92.50% of budget. This is an increase of
15.09% compared to the same period last year. The increase is driven by increases in operational
expense such as internal service allocations, and timing of transfers. Additionally, general increases
in expenses compared to the same period last year are due to inflation. Merit and market
adjustments for personnel expenses are also a factor in the increase spending compared to last
year, as well as a 3% city-wide base pay adjustment for salaries approved in March.
Personnel and Operations Summary:
Personnel costs through the quarter total $50,843,833, or 96.90% of personnel budget. Operational
costs total $35,995,395, or 86.41%. The table below includes all expenditures in the General Fund.
Capital costs can fluctuate from year-to-year based on projects, timing, and various other factors,
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primarily in the Streets cost center. Additionally, one-time and capital related expenditures are
accounted for in projections, and will be reappropriated as part of the Capital Improvement
Amendment set to go to City Council in early FY2023.
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY2021
YTD Actuals:
Q4 FY2022 Variance % Of Budget Variance % Variance
Expense
Personnel 52,472,361 45,808,334 50,843,833 1,628,528 96.90% (5,035,499) 10.99%
Operations 41,656,377 32,394,476 35,995,395 5,660,982 86.41% (3,600,919) 11.12%
Operating Capital 1,039,116 183,939 670,030 369,086 64.48% (486,091) 264.27%
Transfers 6,931,076 3,673,910 6,931,401 (325) 100.00% (3,257,491) 88.67%
Total Expense 102,098,930 82,060,659 94,440,659 7,658,271 92.50% (12,380,000) 15.09%
A complete list of cost center, and budget compared to actuals is attached as part of supplemental
information to this report.
Personnel and Operations Summary by Division:
DEVELOPMENT SERVICES DIVISION:
Through the quarter Planning has reported expenses totaling $1,975,793, or 61.88% of budget.
Savings in the Planning Department are driven by vacancies and timing of one-time expenses for
rewrite of the Unified Development Code and consulting to help with development driven growth.
A new position was added as part of the mid-year budget amendment to help with the
development related workload.
Inspections incurred personnel and operational expenses amounting to $1,748,729, or 86.76% of
budget. Two positions were added for Inspections as part of the mid-year amendment. In addition,
the amendment recognized permit and planning revenue in order to fund the prorated salary,
benefits, and operating costs.
Year-to-date personnel and operational expenditures for Community Services are as follows,
Emergency Management cost center has a total of $288,629, or 87.78% of budget, through the
quarter, Animal Services has reported $1,032,432, which is 82.46% of their budget, Code Compliance
has shown spending of $559,824, or 92.29% of budget.
Environmental Services incurred personnel and operational expenditures amounting to
$9,584,713, or 98.73% of budget.
Public Works personnel and operational expenditures for the quarter totals $1,205,381, which
represents 50.61% of budget. Year-to-date expenditures related to personnel and operations for
Streets totals $3,521,482, 83.02% of budget. The Public Works and Streets budgets include several
large one-time studies that will need to be rolled forward.
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FINANCE ADMINISTRATION DIVISION:
Municipal Court year-to-date expenses total $569,386, or 91.11% of budget. This spending includes
$470,400 for personnel costs and $98,986 for operational costs.
POLICE OPERATIONS DIVISION:
Police Operations saw personnel and operational expenditures through the quarter total
$16,780,476, or 97.31% of budget. Police Administration expenditures through the quarter resulted
in $2,606,297, or 88.76% of budget. This cost center experienced significant vacancy savings
throughout the year. Police overtime came in slightly less than FY2022 projections.
FIRE AND EMS DIVISION:
Year-to-date personnel and operational expenditures through the quarter total $4,556,436, or
97.22% of budget for Fire Support Services/Administration, $16,380,388, or 94.40% of budget for
Fire Emergency Services, and $3,436,136, or 95.20% of budget for Fire EMS.
ADMINISTRATIVE SERVICES DIVISION:
Administrative Services saw operational and personnel costs totaling $2,115,966, or 87.76% of
budget year-to-date. The cost center includes one-time funding for consulting and studies that
were not completed in FY2022 and will be rolled forward.
City Secretary personnel and operational expenditures for the quarter totals $1,073,658, which
represents 86.77% of budget.
Year-to-date personnel and operational expenditures for Communications totals $825,294, which
represents 75.04% of budget. The CAPE department experienced vacancy savings, as well as low
year-to-date spending on a one-time project that will be rolled into FY2023.
Non-Departmental includes a transfer out of $6,931,401, 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. Additionally, this is where the City budgets for various economic development related
incentives. Through the quarter, the City has paid approximately $500 thousand in economic
development related incentives.
LIBRARY, TOURISM, AND ARTS AND CULTURE DIVISION:
Arts and Culture recognized year to date expenses totaling $208,717, or 97.65% of budget. Library
year-to-date expenses total $3,148,350, or 94.59% 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, comes to a total
of $9,281,686, or 92.68% of budget.
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Parks year-to-date through the quarter totals $2,814,368, or 93.62% of budget. Recreation total
expenses are $4,338,993, which is 92.78% of budget. Garey Park year-to-date is $969,796, or 90.30%
of budget. Personnel expenses in recreation are heavily seasonal, and a significant portion of part-
time and temporary salaries are used in the fourth quarter.
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FY2022 EXPENSE PROJECTIONS:
General Fund
Quarterly Comparison: Q4
FY2022 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY2022 Variance % Of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Expense
Personnel 52,472,361 50,843,833 1,628,528 96.90% 52,405,794 1,561,961 97.02%
Operations 41,656,377 35,995,395 5,660,982 86.41% 41,889,252 5,893,858 85.93%
Operating Capital 1,039,116 670,030 369,086 64.48% 859,189 189,159 77.98%
CIP Expense - - - 0.00% - - 0.00%
Transfers 6,931,076 6,931,401 (325) 100.00% 6,931,076 (325) 100.00%
Debt Service - - - 0.00% - - 0.00%
Total Expense 102,098,930 94,440,659 7,658,271 92.50% 102,085,311 7,644,652 92.51%
Total expenses were projected to end FY2022 at $102,085,311. Through the quarter, actuals expenses
are 92.51% of projections.
Overall, General Fund expenditures are within budget and the fund can cover the 90-day
Contingency Reserve, Economic Stability Reserve, Master Development Fee Reserve (MDF) and the
Benefit Payout Reserve.
As previously mentioned, staff will come back to City Council to roll eligible dollars for capital and
one-time in nature expenses from FY2022 to FY2023.
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Fund Schedule:
General Fund
Period: Sep-22 Budget Current Period FY2022 Year-to-date: Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance Fav/(Unfav) % of Projection
Beginning Fund Balance 29,811,442 29,811,442 -100.00% 29,811,442 - 100.00% Revenue
40001:Property Taxes 17,100,000 832,534 16,823,859 (276,141)98.39% 17,131,000 (307,141) 98.21%
40002:Sales Taxes 25,033,760 7,291,661 28,335,537 3,301,777 113.19% 28,474,194 (138,657) 99.51%40005:Franchise Taxes 6,266,830 724,438 7,029,731 762,901 112.17% 6,731,346 298,385 104.43%40008:Other Taxes 420,000 59,874 619,665 199,665 147.54% 563,765 55,900 109.92%41001:Fines 311,150 22,706 274,231 (36,919) 88.13% 276,250 (2,019) 99.27%41002:Penalties 85,000 10,886 121,636 36,636 143.10% 109,165 12,471 111.42%42001:Interest Income 80,000 48,247 241,536 161,536 301.92% 100,000 141,536 241.54%43001:Fees 8,446,834 1,012,185 9,843,730 1,396,896 116.54% 8,340,896 1,502,834 118.02%43002:Garbage Charges 10,600,000 970,519 11,851,567 1,251,567 111.81% 11,519,176 332,391 102.89%43003:Permits 5,274,750 317,272 5,928,333 653,583 112.39% 5,365,500 562,833 110.49%
43004:Administrative Charges 2,725,367 227,123 2,723,941 (1,426) 99.95% 2,725,367 (1,426) 99.95%
43005:Rental Revenue 54,040 61,734 174,812 120,772 323.49% 103,147 71,665 169.48%
45001:Misc Revenue 855,935 139,902 839,010 (16,925) 98.02% 825,220 13,790 101.67%45002:Insurance Proceeds 50,338 - 50,338 - 100.00% 50,338 - 100.00%45003:Misc Reimbursements 15,000 12,902 15,615 615 104.10% 3,000 12,615 520.51%45004:Sale of Property - - 3,400 3,400 0.00% 3,321 79 102.38%45005:Gain/Loss on Sale of Assets - 77 77 77 0.00% - 77 0.00%44001:Grant Revenue 185,000 4,816 416,949 231,949 225.38% 389,840 27,109 106.95%44501:Contribution Revenue - (3,160) - - 0.00% 297 (297) 0.00%44502:Developer Contributions - - 1,929,900 1,929,900 0.00% 1,929,130 770 100.04%
44503:Interlocal Agreement Revenue 5,700,557 1,323,293 5,659,226 (41,331) 99.27% 5,700,557 (41,331) 99.27%
44504:Donations - 10,025 10,061 10,061 0.00% - 10,061 0.00%
70001:Transfers In 410,407 32,121 442,528 32,121 107.83% 410,407 32,121 107.83%70002:Transfers In - Payment in Lieu of Taxes (PILOT) 8,871,270 203,436 9,912,752 1,041,482 111.74% 9,278,397 634,355 106.84%Revenue Total 92,486,238 13,302,590 103,248,435 10,762,197 111.64% 100,030,313 3,218,122 103.22% Expense
City of Georgetown (Only) - - - - 0.00% - - 0.00%CC0001 Non-Departmental 6,931,076 5,420,441 6,931,401 (325) 100.00% 6,931,076 325 100.00%CC0107 Planning 3,192,796 284,889 1,975,793 1,217,003 61.88% 2,998,449 (1,022,655) 65.89%CC0202 Parks Administration 740,036 71,035 713,700 26,336 96.44% 735,155 (21,454) 97.08%CC0210 Library 3,328,407 355,253 3,148,350 180,057 94.59% 3,205,001 (56,651) 98.23%CC0211 Parks 3,006,299 307,862 2,814,368 191,930 93.62% 2,913,085 (98,717) 96.61%CC0212 Recreation 4,676,882 510,847 4,338,993 337,889 92.78% 4,463,422 (124,429) 97.21%CC0213 Tennis Center 517,995 44,967 444,679 73,316 85.85% 490,433 (45,755) 90.67%
CC0214 Recreation Programs - 149 149 (149) 0.00% - 149 0.00%
CC0215 Garey Park 1,073,952 103,274 969,796 104,156 90.30% 1,062,148 (92,352) 91.31%
CC0218 Arts and Culture 213,742 30,586 208,717 5,026 97.65% 227,062 (18,345) 91.92%CC0316 Municipal Court 624,960 74,065 569,386 55,574 91.11% 581,203 (11,817) 97.97%CC0402 Fire Support Services/Administration 4,686,534 509,427 4,556,436 130,098 97.22% 4,358,924 197,512 104.53%CC0422 Fire Emergency Services 17,352,616 1,841,001 16,380,388 972,228 94.40% 17,367,083 (986,695) 94.32%CC0448 EMS 3,609,411 377,482 3,436,136 173,275 95.20% 3,502,814 (66,678) 98.10%CC0533 Environmental Services 9,707,794 1,004,220 9,582,922 124,872 98.71% 9,763,437 (180,514) 98.15%CC0536 Inspection Services 2,015,592 254,860 1,748,729 266,863 86.76% 1,987,176 (238,447) 88.00%CC0602 Administrative Services 2,410,981 288,800 2,115,966 295,015 87.76% 2,305,675 (189,709) 91.77%
CC0605 Emergency Management 328,805 26,969 288,629 40,176 87.78% 305,810 (17,181) 94.38%
CC0634 City Council Services 208,213 12,704 183,481 24,732 88.12% 203,707 (20,226) 90.07%
CC0635 City Secretary Services 1,237,430 174,778 1,073,658 163,772 86.77% 1,188,931 (115,273) 90.30%CC0638 General Government Contracts 6,473,823 398,406 6,421,933 51,890 99.20% 8,334,305 (1,912,372) 77.05%CC0639 Human Resources - - - - 0.00% 0 (0) 0.00%CC0655 Communications/Public Engagement 1,099,839 104,257 825,294 274,545 75.04% 1,071,673 (246,380) 77.01%CC0702 Police Administration 2,936,293 252,673 2,606,297 329,996 88.76% 2,605,749 547 100.02%CC0742 Police Operations 17,243,705 2,411,456 16,780,476 463,229 97.31% 17,229,095 (448,619) 97.40%CC0744 Animal Services 1,252,023 130,776 1,032,432 219,591 82.46% 1,092,087 (59,654) 94.54%
CC0745 Code Compliance 606,589 76,076 559,824 46,765 92.29% 595,521 (35,697) 94.01%
CC0802 Public Works 2,381,603 182,621 1,211,243 1,170,360 50.86% 2,240,961 (1,029,718) 54.05%
CC0846 Streets 4,241,533 471,517 3,521,482 720,051 83.02% 4,325,329 (803,846) 81.42%Expense Total 102,098,930 15,721,389 94,440,659 7,658,271 92.50% 102,085,311 7,644,652 92.51%
Excess (Deficiency) of Total Revenue over
Total Requirements (9,612,692) (2,418,800) 8,807,776 18,420,467 -91.63% (2,054,999) 10,862,774 -428.60%
Ending Fund Balance 20,198,750 38,619,218 18,420,467 191.20% 27,756,443 10,862,774 139.14%
Reserves MDF Reserve - - 1,700,000 1,700,000 0.00% 1,700,000 - 100.00%Benefit Payout Reserve 340,000 - 340,000 - 100.00% 340,000 - 100.00%
Contingency Reserve 15,917,686 - 15,917,686 - 100.00% 15,917,686 - 100.00%
Economic Stability Reserve 3,850,569 - 3,850,569 - 100.00% 3,850,569 - 100.00%
Reserves Total 20,108,255 - 21,808,255 1,700,000 108.45% 21,808,255 - 100.00% Estimated Operational Roll Forward 3,552,241
Available Fund Balance 90,495 - 13,258,722 13,168,226 14651.27% 5,948,188 7,310,533 222.90%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects.
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Expense by Cost Center:
General Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Planning
Personnel 1,753,308 1,342,756 1,415,032 338,276 80.71% 1,566,836 151,804 90.31%
Operations 1,426,089 406,662 551,895 874,194 38.70% 1,431,613 879,719 38.55%
Operating Capital 13,400 1,052 8,867 4,533 66.17% - (8,867) 0.00%
Planning Total Expense 3,192,796 1,750,470 1,975,793 1,217,003 61.88% 2,998,449 1,022,655 65.89%
Library
Personnel 2,015,496 1,686,347 1,836,953 (150,606) 91.14% 1,883,043 46,090 97.55%
Operations 1,292,066 1,004,301 1,298,089 (293,789) 100.47% 1,319,158 21,069 98.40%
Operating Capital 20,845 8,553 13,308 (4,754) 63.84% 2,800 (10,508) 475.28%
Library Total Expense 3,328,407 2,699,201 3,148,350 (449,149) 94.59% 3,205,001 56,651 98.23%
Parks Administration
Personnel 310,135 280,793 304,694 5,441 98.25% 313,233 8,539 97.27%
Operations 429,901 349,542 429,901 0.00% 421,922 421,922 0.00%
Parks Administration Total
Expense 740,036 630,335 713,700 26,336 96.44% 735,155 21,454 97.08%
Parks
Personnel 1,685,759 1,453,737 1,551,429 134,330 92.03% 1,643,172 91,743 94.42%
Operations 1,315,036 1,129,327 1,256,590 58,447 95.56% 1,263,560 6,970 99.45%
Operating Capital 5,503 - 6,350 (847) 115.38% 6,353 3 99.95%
Parks Total Expense 3,006,299 2,583,064 2,814,368 191,930 93.62% 2,913,085 98,717 96.61%
Recreation
Personnel 2,506,315 1,584,967 2,241,126 265,189 89.42% 2,365,167 124,041 94.76%
Operations 2,170,567 1,150,994 2,097,867 72,700 96.65% 2,098,255 388 99.98%
Operating Capital - 19,968 - - 0.00% - - 0.00%
Recreation Total Expense 4,676,882 2,755,929 4,338,993 337,889 92.78% 4,463,422 124,429 97.21%
Tennis Center
Personnel 269,109 226,269 238,160 30,948 88.50% 258,383 20,223 92.17%
Operations 248,886 160,268 206,518 42,368 82.98% 232,050 25,532 89.00%
Tennis Center Total
Expense 517,995 386,537 444,679 73,316 85.85% 490,433 45,755 90.67%
Recreation Programs
Personnel - 493,066 149 (149) 0.00% - (149) 0.00%
Operations - 455,622 - - 0.00% - - 0.00%
Recreation Programs Total
Expense - 948,688 149 (149) 0.00% - (149) 0.00%
Garey Park
Personnel 507,551 436,640 485,979 21,571 95.75% 512,950 26,970 94.74%
Operations 566,401 421,384 482,099 84,302 85.12% 547,399 65,300 88.07%
Operating Capital - (89) 1,718 (1,718) 0.00% 1,800 82 95.44%
Garey Park Total Expense 1,073,952 857,934 969,796 104,156 90.30% 1,062,148 92,352 91.31%
Arts and Culture
Personnel 73,820 22,108 83,831 (10,011) 113.56% 87,140 3,309 96.20%
Operations 139,922 60,265 124,886 15,036 89.25% 139,922 15,036 89.25%
Transfers 73,820 22,108 83,831 (10,011) 113.56% 87,140 3,309 96.20%
Arts and Culture Total
Expense 213,742 82,372 208,717 5,026 97.65% 227,062 18,345 91.92%
Municipal Court
Personnel 513,744 476,716 470,400 43,344 91.56% 476,937 6,537 98.63%
Operations 111,216 78,106 98,986 12,230 89.00% 104,266 5,280 94.94%
12
Developer contributions were budgeted at $12,000,000. Year-to-date collection totals $10,845,198,
or 90.38% of budget. While there is an increase in revenue compared to prior years, 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 amendments
were brought to Council in May as part of the mid-year budget amendment. Line extension fees
were increased to recover costs.
For FY2022, Renewable Energy Credit (REC) revenue has been reclassified from non-operating
revenue to operating revenue. Within the Fee category, the REC revenue budget is $1,160,000. REC
sales total $3,768,963, or 324.91% of budget through the quarter. Market Pricing of RECs continued
to be favorable for the City.
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Revenue
40002:Sales Taxes 5,000 5,863 6,870 1,870 137.39% 1,007 17.18%
41002:Penalties 600,000 848,000 838,168 238,168 139.69% (9,832) -1.16%
42001:Interest Income 11,000 33,570 268,850 257,850 2444.09% 235,280 700.86%
43001:Fees 1,851,000 1,036,657 4,544,074 2,693,074 245.49% 3,507,417 338.34%
43004:Administrative
Charges 3,539,712 3,222,103 3,539,712 - 100.00% 317,609 9.86%
43601:Electric Sales Charges 85,541,593 80,933,053 86,877,653 1,336,060 101.56% 5,944,599 7.35%
44502:Developer
Contributions 12,000,000 7,828,988 10,845,198 (1,154,802) 90.38% 3,016,211 38.53%
70001:Transfers In - 1,562,058 - - 0.00% (1,562,058) -100.00%
Operating Revenue Total 103,548,305 95,470,292 106,920,524 3,372,219 103.26% 11,450,233 11.99%
Non-Operating Revenue
45001:Misc Revenue 35,000 523,214 194,805 159,805 556.59% (328,409) -62.77%
45003:Misc
Reimbursements - - 5,475 5,475 0.00% 5,475 0.00%
45004:Sale of Property 665,840 4,127,598 92,876 (572,964) 13.95% (4,034,721) -97.75%
44001:Grant Revenue - - 339,612 339,612 0.00% 339,612 0.00%
46001:Bond Proceeds 19,461,500 54,065,000 17,995,000 (1,466,500) 92.46% (36,070,000) -66.72%
46002:Bond Premium - 652,424 1,644,584 1,644,584 0.00% 992,159 152.07%
Non-Operating Revenue Total 20,162,340 59,368,236 20,272,352 110,012 100.55% (39,095,885) -65.85%
Revenue Total 123,710,645 154,838,528 127,192,876 3,482,231 102.81% (27,645,652) -17.85%
The budget for non-operating revenue totals $20,162,340 in FY2022. The City recognized bond
proceeds as part of the annual debt sale in the spring to cover the costs of capital infrastructure
and equipment. The large variance in bond proceeds between 2021 and 2022 is related to the
financing of the extreme energy costs from Winter Storm Uri in 2021. The large variances in Fees
and Sale of Property are due to the reclassification of REC revenue from non-operating to operating.
The $665,840 Sale of Property budget is for the third segment of the fiber asset transition from the
Electric Fund to the Information Technology Fund. This asset transfer is reflected on the budget
statements and will also be reflected in the actuals on the year-end accounting statements. With
2021 year-end savings in the Information Technology Fund, the fourth and final multi-year segment
16
was transferred in FY2022. This early completion of the project will alleviate budget pressures in
the FY2023 Information Technology cost allocation to other funds.
FY2021 REVENUE PROJECTIONS:
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % Variance Projections
FY2022
Variance
Fav/(Unfav)
% of
Projections
Operating Revenues
40002:Sales Taxes 5,000 6,870 1,870 137.39% 5,000 1,870 137.39%
41002:Penalties 600,000 838,168 238,168 139.69% 700,000 138,168 119.74%
42001:Interest Income 11,000 268,850 257,850 2444.09% 66,000 202,850 407.35%
43001:Fees 1,851,000 4,544,074 2,693,074 245.49% 3,623,725 920,349 125.40%
43003:Permits - - - 0.00% 55,000 (55,000) 0.00%
43004:Administrative
Charges 3,539,712 3,539,712 - 100.00% 3,539,712 - 100.00%
43601:Electric Sales Charges 85,541,593 86,877,653 1,336,060 101.56% 86,946,485 (68,832) 99.92%
44502:Developer
Contributions 12,000,000 10,845,198 (1,154,802) 90.38% 12,000,000 (1,154,802) 90.38%
70001:Transfers In - - - 0.00% - - 0.00%
Operating Revenue Total 103,548,305 106,920,524 3,372,219 103.26% 106,935,922 (15,398) 99.99%
Non-Operating Revenues
45001:Misc Revenue 35,000 194,805 159,805 556.59% 200,000 (5,195) 97.40%
45003:Misc
Reimbursements - 5,475 5,475 0.00% 750 4,725 729.96%
45004:Sale of Property 665,840 92,876 (572,964) 13.95% 52,330 40,546 177.48%
44001:Grant Revenue - 339,612 339,612 0.00% 352,313 (12,701) 96.39%
46001:Bond Proceeds 19,461,500 17,995,000 (1,466,500) 92.46% 17,995,000 - 100.00%
46002:Bond Premium - 1,644,584 1,644,584 0.00% 1,644,538 46 100.00%
Non-Operating Revenue Total 20,162,340 20,272,352 110,012 100.55% 20,244,931 27,421 100.14%
Revenue Total 123,710,645 127,192,876 3,482,231 102.81% 127,180,853 12,023 100.01%
Total revenues were projected to end FY2022 at $127,180,853. Through the quarter, actuals are
$127,192,876 or 100.01% of total projections. Within the Fees category, REC revenue and Pole
Attachment fees are both significantly over projections. Developer Contributions are under
projections. Interest earnings also improved due to rate increases in later quarters.
ELECTRIC EXPENSES:
Operating expenses in the Electric Fund total $92,641,636 through the quarter. Year-to-date
purchase power expenses total $64,753,349, while Net congestion revenue rights (CRRs) credits
total $484,027.
The City continued to use a hedging strategy for the winter and summer months to avoid price
spikes in the market. June and July were very hot. In the month of June, customer energy
purchases(adjusted meter load) was 17% higher than June of 2021. July customer energy
purchases(adjusted meter load) was 25% over the same month the prior year. FY2022 total
customer energy purchases (adjusted meter load) is an increase of 8.7% over 2021, and 9% over the
budgetfor FY2022. The fourth quarter report includes both increased revenues from power sales
and increased expenses from power purchases and conservative hedging in July and August.
17
Due to the increased power purchases required to meet load and the robust hedging strategy,
purchased power expenses are $10.6 million over the budget of $54.5M, and $7.7M over the
projection of $57 million. the $7.7 million over projection power expense, is due to a combination
of the following factors : increased customer energy purchases(adjusted meter load) ), increases in
Ancillary Services costs due to ERCOT conservative operations, the steep increase in Natural Gas
prices due to global conditions and additional hedging activities in late summer. The hedging
strategy is like an insurance policy. The City pays a premium in expense to avoid risk exposure to
significant market volatility.
During FY2022, the Electric Department transitioned to an outsourced warehouse services contract
with Texas Electric Cooperatives (TEC). This transition included the purchase of $1.5M of City-owned
electric inventory by TEC. This transaction will post to the Electric Fund balance sheet as a decrease
to inventory and an increase to cash. Approximately $114K in obsolete inventory is expensed. This is
posted to this fund schedule under CC0557 Electrical Engineering, Miscellaneous Expense.
Electric Engineering and Transmission and Distribution (T&D) cost centers look inflated due to the
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.
In the Non-Departmental Cost Center, the expense for bad debt was lower than budgeted due to
improved collections practices and changes to disconnects for non-payment.
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
CC0001 Non-Departmental 6,963,362 6,609,740 6,182,472 780,890 88.79% 427,267 -6.46%
CC0317 Purchasing - 2,021 - - 0.00% 2,021 -100.00%
CC0521 Operational
Technology 1,276,176 670,962 1,084,791 191,386 85.00% (413,829) 61.68%
CC0522 Electric
Administration 9,825,545 8,868,267 9,809,523 16,023 99.84% (941,255) 10.61%
CC0523 Electric Safety and
Employee Development 268,825 - 288,789 (19,964) 107.43% (288,789) 0.00%
CC0524 Metering Services 1,964,459 1,939,497 1,725,432 239,026 87.83% 214,065 -11.04%
CC0525 T&D Services 1,975,555 4,185,597 4,021,384 (2,045,829) 203.56% 164,213 -3.92%
CC0537 Electric Resource
Management 55,493,445 110,515,572 65,577,008 (10,083,563) 118.17% 44,938,565 -40.66%
CC0555 Electric Systems
Operations 1,926,520 1,579,253 1,974,273 (47,753) 102.48% (395,021) 25.01%
CC0557 Electrical
Engineering 644,339 1,070,057 1,977,964 (1,333,625) 306.98% (907,907) 84.85%
Operating Expense Total 80,338,226 135,440,965 92,641,636 (12,303,410) 115.31% 42,799,329 -31.60%
Non-Operating Expense
CC0001 Non-Departmental 10,097,271 4,298,971 9,914,375 182,896 98.19% (5,615,404) 130.62%
CC0557 Electrical
Engineering 25,026,230 3,386,145 7,815,946 17,210,284 31.23% (4,429,801) 130.82%
Non-Operating Expense Total 35,123,501 17,730,321 17,393,180 50.48%
Expense Total 115,461,727 143,126,081 110,371,957 5,089,770 95.59% 32,754,124 -22.88%
18
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. The year-over-year variance in purchased
power is due to the 2021 extreme energy costs of Winter Storm Uri.
Non-operating expenditures are budgeted at $35,123,501 in FY2022. Budgeted non-operating
expenditures include $25,026,230 for capital projects and $10,097,271 for debt service payments,
both of which typically trend towards later quarters. The FY2022 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. In order to keep up with new development CIP related projects,
staff proposed to amend the Electric CIP budget as part of the mid-year budget amendment. This
amendment includes an 80% offset in developer contribution revenue as well as bond proceeds to
fund the new development projects. As previously mentioned, a significant portion of labor
expenses for capital projects will be capitalized at the end of the fiscal year, bringing operations and
capital expense in balance with their budgets.
FY2022 EXPENSE PROJECTIONS:
Electric Services
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
2022
Variance
Fav/(Unfav)
% of
Projections
Operating Expense
CC0001 Non-Departmental 6,963,362 6,182,472 780,890 88.79% 6,963,362 780,890 88.79%
CC0317 Purchasing - - - 0.00% - - 0.00%
CC0521 Operational
Technology 1,276,176 1,084,791 191,386 85.00% 1,151,964 67,174 94.17%
CC0522 Electric
Administration 9,825,545 9,809,523 16,023 99.84% 9,857,150 47,627 99.52%
CC0523 Electric Safety and
Employee Development 268,825 288,789 (19,964) 107.43% 368,935 80,146 78.28%
CC0524 Metering Services 1,964,459 1,725,432 239,026 87.83% 1,814,377 88,944 95.10%
CC0525 T&D Services 1,975,555 4,021,384 (2,045,829) 203.56% 2,180,115 (1,841,269) 184.46%
CC0537 Electric Resource
Management 55,493,445 65,577,008 (10,083,563) 118.17% 58,493,456 (7,083,552) 112.11%
CC0555 Electric Systems
Operations 1,926,520 1,974,273 (47,753)102.48% 1,841,136 (133,137) 107.23%
CC0557 Electrical
Engineering 644,339 1,977,964 (1,333,625) 306.98% 1,107,635 (870,329) 178.58%
Operating Expense Total 80,338,226 92,641,636 (12,303,410) 115.31% 83,778,129 (8,863,506) 110.58%
Non-Operating Expense
CC0001 Non-Departmental 10,097,271 9,914,375 182,896 98.19% 10,097,271 182,896 98.19%
CC0557 Electrical
Engineering 25,026,230 7,815,946 17,210,284 31.23% 25,026,230 17,210,284 31.23%
Non-Operating Expense Total 35,123,501 17,730,321 17,393,180 50.48% 35,123,501 17,393,180 50.48%
Expense Total 115,461,727 110,371,957 5,089,770 95.59% 118,901,630 8,529,673 92.83%
Total expenses were projected to end FY2022 at $118,901,630. Through the quarter, actual expenses
are $110,371,957 or, 92.83% of total projections.
19
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 $8,930,396, reserve for transformer of $4,262,947, as well as a rate
stabilization reserve in the amount of $18,600,000. However, a majority of the actual available
ending fund balance will be needed in the FY2023 Roll Forward Budget Amendment for capital
improvement projects still in process. For FY2023, the City will continue to review Electric cost of
service in light of increased capital costs, potential changes in net metering, potential changes in
the ERCOT market design, and updated timelines to new industrial loads.
20
Fund Schedule:
Electric Services
Period: Sep-22 Budget Current Period FY2022 FY2022 Year-to-date: Budget Vs. Actuals FY2022 Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance Fav/(Unfav) % of Projection
Beginning Fund Balance 39,711,400 39,711,400 - 100.00% 39,711,400 - 100.00%
Operating Revenue
40002:Sales Taxes 5,000 743 6,870 1,870 137.39% 5,000 1,870 137.39%41002:Penalties 600,000 100,454 838,168 238,168 139.69% 700,000 138,168 119.74%
42001:Interest Income 11,000 71,804 268,850 257,850 2444.09% 66,000 202,850 407.35%43001:Fees 1,851,000 1,210,715 4,544,074 2,693,074 245.49% 3,623,725 920,349 125.40%43003:Permits - - - - 0.00% 55,000 (55,000) 0.00%
43004:Administrative Charges 3,539,712 884,928 3,539,712 - 100.00% 3,539,712 - 100.00%43601:Electric Sales Charges 85,541,593 8,629,262 86,877,653 1,336,060 101.56% 86,946,485 (68,832) 99.92%44502:Developer
Contributions 12,000,000 561,075 10,845,198 (1,154,802) 90.38% 12,000,000 (1,154,802) 90.38%
70001:Transfers In - - - - 0.00% - - 0.00%
Total Operating Revenue 103,548,305 11,458,981 106,920,524 3,372,219 103.26% 106,935,922 (15,398) 99.99%
Operating Expense
CC0001 Non-Departmental 6,963,362 - 6,182,472 780,890 88.79% 6,963,362 780,890 88.79%CC0317 Purchasing - - - - 0.00% - - 0.00%CC0521 Operational
Technology 1,276,176 170,064 1,084,791 191,386 85.00% 1,151,964 67,174 94.17%
CC0522 Electric Administration 9,825,545 1,010,860 9,809,523 16,023 99.84% 9,857,150 47,627 99.52%
CC0523 Electric Safety and
Employee Development 268,825 43,401 288,789 (19,964) 107.43% 368,935 80,146 78.28%CC0524 Metering Services 1,964,459 129,151 1,725,432 239,026 87.83% 1,814,377 88,944 95.10%
CC0525 T&D Services 1,975,555 424,427 4,021,384 (2,045,829) 203.56% 2,180,115 (1,841,269) 184.46%
CC0528 Water Distribution - (4,752) - - 0.00% - - 0.00%CC0537 Electric Resource Management 55,493,445 5,281,156 65,577,008 (10,083,563) 118.17% 58,493,456 (7,083,552) 112.11%
CC0555 Electric Systems Operations 1,926,520 478,778 1,974,273 (47,753) 102.48% 1,841,136 (133,137) 107.23%CC0557 Electrical Engineering 644,339 297,973 1,977,964 (1,333,625) 306.98% 1,107,635 (870,329) 178.58%
Total Operating Expense 80,338,226 7,831,060 92,641,636 (12,303,410) 115.31% 83,778,129 (8,863,506) 110.58%
Net Operations Total 23,210,079 14,278,889 15,675,629 61.52% 23,157,793 (8,878,904) 61.66%
Non-Operating Revenue 45001:Misc Revenue 35,000 18,546 194,805 159,805 556.59% 200,000 (5,195) 97.40%
45003:Misc Reimbursements - - 5,475 5,475 0.00% 750 4,725 729.96%
45004:Sale of Property 665,840 17,451 92,876 (572,964) 13.95% 52,330 40,546 177.48%44001:Grant Revenue - - 339,612 339,612 0.00% 352,313 (12,701) 96.39%
46001:Bond Proceeds 19,461,500 - 17,995,000 (1,466,500) 92.46% 17,995,000 - 100.00%
46002:Bond Premium - - 1,644,584 1,644,584 0.00% 1,644,538 46 100.00%Total Non-Operating Revenue 20,162,340 35,997 20,272,352 110,012 100.55% 20,244,931 27,421 100.14%
Non-Operating Expense
CC0001 Non-Departmental 10,097,271 - 9,914,375 182,896 98.19% 10,097,271 182,896 98.19%
CC0557 Electrical Engineering 25,026,230 1,470,242 7,815,946 17,210,284 31.23% 25,026,230 17,210,284 31.23%
Total Non-Operating Expense 35,123,501 1,470,242 17,730,321 17,393,180 50.48% 35,123,501 17,393,180 50.48%
Excess (Deficiency) of Total
Revenue over Total Requirements 8,248,918 2,193,676 16,820,919 8,572,002 203.92% 8,279,223 8,541,696 203.17%
Ending Fund Balance 47,960,318 56,532,319 8,572,002 117.87% 47,990,623 8,541,696 117.80%
Reserves
Rate Stabilization 18,600,000 18,600,000 - 100.00% 18,600,000 - 100.00%
Non-Operating Reserve 8,930,396 8,930,396 - 100.00% 8,930,396 - 100.00%Operating Contingency
Reserve 6,426,561 6,426,561 - 100.00% 6,426,561 - 100.00%
Transformer Reserve 4,262,947 4,262,947 - 100.00% 4,262,947 - 100.00%Reserves Total 38,219,904 38,219,904 - 100.00% 38,219,904 - 100.00%
Estimated Operational Roll
Forward 13,643,887
Available Fund Balance 9,740,414 4,668,528 (5,071,885) 47.93% 9,770,719 (5,102,191) 47.78%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January Amendment.
These include multi-year capital projects, one-time equipment ordered but not received, and other special projects.
21
FY2022 REVENUE PROJECTIONS:
Water
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projections
Operating Revenue
41002:Penalties 315,000 690,755 375,755 219.29% 566,000 124,755 122.04%
42001:Interest Income 390,000 2,501,288 2,111,288 641.36% 420,100 2,081,188 595.40%
43001:Fees 8,062,000 9,450,416 1,388,416 117.22% 9,104,281 346,135 103.80%
43005:Rental Revenue 50,000 118,371 68,371 236.74% 70,000 48,371 169.10%
43602:Water Charges 36,100,000 47,350,048 11,250,048 131.16% 41,100,000 6,250,048 115.21%
43603:Wastewater Charges 14,500,000 17,008,845 2,508,845 117.30% 15,800,000 1,208,845 107.65%
43604:Irrigation Charges 300,000 533,351 233,351 177.78% 450,000 83,351 118.52%
41602:Impact Fees 34,345,000 46,909,832 12,564,832 136.58% 42,300,051 4,609,781 110.90%
44502:Developer
Contributions 767,240 613,072 (154,168) 79.91% 550,000 63,072 111.47%
70001:Transfers In 115,000 1,708,369 1,593,369 1485.54% 115,000 1,593,369 1485.54%
Operating Revenue Total 94,944,240 126,884,348 31,940,108 133.64% 110,475,432 16,408,916 114.85%
Non-Operating Revenue
45001:Misc Revenue 1,462,000 1,537,630 75,630 105.17% 1,367,500 170,130 112.44%
45003:Misc
Reimbursements - 113 113 0.00% 233 (121) 48.28%
45004:Sale of Property - - - 0.00% - - 0.00%
44001:Grant Revenue - 304,745 304,745 0.00% 20,124 284,621 1514.34%
46001:Bond Proceeds 213,100,000 202,385,000 (10,715,000) 94.97% 202,385,000 - 100.00%
46002:Bond Premium - 12,759,165 12,759,165 0.00% 12,759,164 1 100.00%
Non-Operating Revenue Total 214,562,000 216,986,652 2,424,652 101.13% 216,532,021 454,631 100.21%
Revenue Total 309,506,240 343,871,000 34,364,760 111.10% 327,007,453 16,863,547 105.16%
Due to a prolonged, hot and dry summer, sales revenues exceed projections. Total revenues were
projected to end FY2022 at $327,007,453. Through the quarter, actuals are 105.16% of total
projections.
WATER EXPENSES:
Operating expenditures in the Water Fund total $56,427,953 through the quarter, or 97.61% of
budget. Operating expenditures in FY2022 are 30.75% greater than the same period in FY2021.
Overall, personnel expenses were under budget due to vacancies which helped to offset the
increased cost of chemicals, sludge hauling costs, and repair and maintenance of aging
mechanical equipment. Wastewater Plant Management also exceeded budget due to running
the plants at peak demand for a prolonged period of time during hot weather. The BRA contract
costs were $700,000 over budget due to increased electric rates for BRA operations
24
Water Services Financial Report
Quarterly Comparison: Q4 FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
CC0001 Non-Departmental 5,069,426 5,131,684 5,719,488 (650,062) 112.82% (587,805) 11.45%
CC0524 Metering Services - - 10,273 (10,273) 0.00% (10,273) 0.00%
CC0526 Systems Engineering - (1,836,056) - - 0.00% (1,836,056) -100.00%
CC0527 Water Services
Administration 31,392,009 24,491,296 29,665,861 1,726,147 94.50% (5,174,565) 21.13%
CC0528 Water Distribution 4,315,196 3,176,051 4,995,810 (680,614) 115.77% (1,819,759) 57.30%
CC0529 Water Plant
Management 5,172,213 3,479,406 4,449,761 722,452 86.03% (970,355) 27.89%
CC0530 Wastewater
Operations 1,179,469 547,171 1,197,756 (18,287) 101.55% (650,584) 118.90%
CC0531 Wastewater Plant
Management 4,466,888 3,516,184 4,732,836 (265,948) 105.95% (1,216,652) 34.60%
CC0532 Irrigation Operations 295,000 139,285 224,688 70,312 76.17% (85,403) 61.32%
CC0535 Water Conservation 899,565 - 554,140 345,425 61.60% (554,140) 0.00%
CC0553 Water Operations 5,020,694 4,377,488 4,877,340 143,354 97.14% (499,852) 11.42%
Operating Expense Total 57,810,460 43,022,509 56,427,953 1,382,506 97.61% (13,405,444)31.16%
Non-Operating Expense
CC0001 Non-Departmental 2,000,000 92,665 2,053,331 (53,331) 102.67% (1,960,666) 2115.86%
CC0526 Systems Engineering 334,197,307 13,892,008 28,171,971 306,025,336 8.43% (14,279,963) 102.79%
CC0532 Irrigation Operations 308,000 121,994 120,779 187,221 39.21% 1,215 -1.00%
CC0530 Wastewater
Operations 2,803,196 3,160,381 3,127,605 (324,409) 111.57% 32,776 -1.04%
CC0528 Water Distribution - 781,316 - - 0.00% 781,316 -100.00%
CC0553 Water Operations 12,995,563 11,704,343 5,249,670 7,745,892 40.40% 6,454,673 -55.15%
CC0524 Metering Services 2,250,000 - - 2,250,000 0.00% - 0.00%
Non-Operating Expense Total 354,554,065 29,752,707 38,723,356 315,830,709 10.92% (8,970,650)30.15%
Expense 412,364,525 72,775,216 95,151,310 317,213,215 30.00% (22,376,094)30.75%
Non-operating expense are budgeted at $354,554,065 in FY2022. Expenses total $38,723,356 or
10.92% of budget through the quarter. The majority of the non-operating expense funds were
dedicated to construction of capital improvement projects which were not completed in FY2022.
These funds will be re-appropriated in FY2023 as the treatment plant, distribution, metering and
weather resiliency projects will take multiple years to complete. Debt payments were made in
February for interest. Principal payments are reflected in the fourth quarter report.FY2022
EXPENSE PROJECTIONS:
Water Services Financial Report
Quarterly Comparison: Q4 FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals FY2022 Year-to-date Vs. Projections
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Expense
CC0001 Non-Departmental 5,069,426 5,719,488 (650,062) 112.82% 5,450,304 (269,184) 104.94%
CC0524 Metering Services - 10,273 (10,273) 0.00% - (10,273) 0.00%
CC0526 Systems Engineering - - - 0.00% - - 0.00%
CC0527 Water Services
Administration 31,392,009 29,665,861 1,726,147 94.50% 30,968,610 1,302,748 95.79%
CC0528 Water Distribution 4,315,196 4,995,810 (680,614)115.77% 3,965,999 (1,029,812) 125.97%
CC0529 Water Plant
Management 5,172,213 4,449,761 722,452 86.03% 5,886,314 1,436,553 75.60%
25
CC0530 Wastewater
Operations 1,179,469 1,197,756 (18,287) 101.55% 1,040,298 (157,458) 115.14%
CC0531 Wastewater Plant
Management 4,466,888 4,732,836 (265,948) 105.95% 4,920,815 187,979 96.18%
CC0532 Irrigation Operations 295,000 224,688 70,312 76.17% 209,067 (15,621) 107.47%
CC0535 Water Conservation 899,565 554,140 345,425 61.60% 701,199 147,059 79.03%
CC0553 Water Operations 5,020,694 4,877,340 143,354 97.14% 4,891,348 14,007 99.71%
Operating Expense Total 57,810,460 56,427,953 1,382,506 97.61% 58,033,952 1,605,999 97.23%
Non-Operating Expense
CC0001 Non-Departmental 2,000,000 2,053,331 (53,331) 102.67% 2,058,203 4,872 99.76%
CC0526 Systems Engineering 334,197,307 28,171,971 306,025,336 8.43% 331,805,749 303,633,777 8.49%
CC0532 Irrigation Operations 308,000 120,779 187,221 39.21% 308,000 187,221 39.21%
CC0530 Wastewater
Operations 2,803,196 3,127,605 (324,409) 111.57% 2,803,196 (324,409) 111.57%
CC0528 Water Distribution - - - 0.00% - - 0.00%
CC0553 Water Operations 12,995,563 5,249,670 7,745,892 40.40% 15,387,371 10,137,701 34.12%
CC0524 Metering Services 2,250,000 - 2,250,000 0.00% 2,250,000 2,250,000 0.00%
Non-Operating Expense Total 354,554,065 38,723,356 315,830,709 10.92% 354,612,519 315,889,162 10.92%
Expense 412,364,525 95,151,310 317,213,215 30.00% 412,646,471 317,495,161 23.06%
Total expenses were projected to end FY2022 at $412,646,471. Through the quarter, actual
expenses are 23.06% of total projections. Many large multi-year capital project encumbrances will
roll forward into FY2023, from the FY2022 available fund balance.
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 $10,942,451, a
non-operating reserve of $10,000,000, and an Impact Fee reserve of $9,157,405.
During the year-end audit process, additional impact fee revenues will be reconciled and may be
reserved from the available fund balance.
26
Fund Schedule:
Water Services Period: Sep-22 Budget Current Period Year-End: Projections Vs Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance
Fav/(Unfav) % of Projection
Beginning Fund Balance 180,426,399 180,426,399 - 100.00% 180,426,399 - 100.00%
Operating Revenue
41002:Penalties 315,000 81,793 690,755 375,755 219.29% 566,000 124,755 22.04%42001:Interest Income 390,000 728,276 2,501,288 2,111,288 641.36% 420,100 2,081,188 595.40%43001:Fees 8,062,000 (3,299,948) 9,450,416 1,388,416 117.22% 9,104,281 346,135 103.80%43005:Rental Revenue 50,000 1,825 118,371 68,371 236.74% 70,000 48,371 169.10%43602:Water Charges 36,100,000 4,456,587 47,350,048 11,250,048 131.16% 41,100,000 6,250,048 115.21%43603:Wastewater Charges 14,500,000 1,542,560 17,008,845 2,508,845 117.30% 15,800,000 1,208,845 107.65%43604:Irrigation Charges 300,000 30,083 533,351 233,351 177.78% 450,000 83,351 118.52%41602:Impact Fees 34,345,000 7,294,417 46,909,832 12,564,832 136.58% 42,300,051 4,609,781 110.90%
44502:Developer Contributions 767,240 33,124 613,072 (154,168) 79.91% 550,000 63,072 111.47%
70001:Transfers In 115,000 1,593,369 1,708,369 1,593,369 1485.54% 115,000 1,593,369 1485.54%Total Operating Revenue 94,944,240 12,462,085 126,884,348 31,940,108 133.64% 110,475,432 16,408,916 114.85% Operating Expenses
CC0001 Non-Departmental 5,069,426 175,674 5,719,488 (650,062) 112.82% 5,450,304 (269,184) 104.94%
CC0524 Metering Services - 9,937 10,273 (10,273) 0.00% - (10,273) 0.00%CC0526 Systems Engineering - - - - 0.00% - - 0.00%CC0527 Water Services Administration 31,392,009 3,544,809 29,665,861 1,726,147 94.50% 30,968,610 1,302,748 95.79%CC0528 Water Distribution 4,315,196 1,621,956 4,995,810 (680,614) 115.77% 3,965,999 (1,029,812) 125.97%CC0529 Water Plant Management 5,172,213 459,357 4,449,761 722,452 86.03% 5,886,314 1,436,553 75.60%CC0530 Wastewater Operations 1,179,469 510,365 1,197,756 (18,287) 101.55% 1,040,298 (157,458) 115.14%CC0531 Wastewater Plant
Management 4,466,888 888,637 4,732,836 (265,948) 105.95% 4,920,815 187,979 96.18%
CC0532 Irrigation Operations 295,000 56,755 224,688 70,312 76.17% 209,067 (15,621) 107.47%
CC0535 Water Conservation 899,565 92,868 554,140 345,425 61.60% 701,199 147,059 79.03%CC0553 Water Operations 5,020,694 699,007 4,877,340 143,354 97.14% 4,891,348 14,007 99.71%Operating Expense Total 57,810,460 8,059,365 56,427,953 1,382,506 97.61% 58,033,952 1,605,999 97.23%
Available Operating Fund Balance 37,133,780 - 70,456,394 30,557,601 - 52,441,480 18,014,915 134.35%
Non-Operating Revenue 45001:Misc Revenue 1,462,000 1,213,307 1,537,630 75,630 105.17% 1,367,500 170,130 112.44%
45003:Misc Reimbursements - - 113 113 0.00% 233 (121) 48.28%
45004:Sale of Property - - - - 0.00% - - 0.00%
44001:Grant Revenue - - 304,745 304,745 0.00% 20,124 284,621 1514.34%46001:Bond Proceeds 213,100,000 - 202,385,000 (10,715,000) 94.97% 202,385,000 - 100.00%46002:Bond Premium - - 12,759,165 12,759,165 0.00% 12,759,164 1 100.00%Non-Operating Revenue Total 214,562,000 1,213,307 216,986,652 2,424,652 101.13% 216,532,021 454,631 100.21% Non-Operating Expenses
CC0001 Non-Departmental 2,000,000 (217) 2,053,331 (53,331) 102.67% 2,058,203 (4,872) 99.76%CC0524 Metering Services 2,250,000 - - 2,250,000 0.00% 2,250,000 (2,250,000) 0.00%CC0526 Systems Engineering 334,197,307 7,824,329 28,171,971 306,025,336 8.43% 331,805,749 (303,633,777) 8.49%CC0528 Water Distribution - - - - 0.00% - - 0.00%CC0530 Wastewater Operations 2,803,196 137,163 3,127,605 (324,409) 111.57% 2,803,196 324,409 111.57%CC0532 Irrigation Operations 308,000 - 120,779 187,221 39.21% 308,000 (187,221) 39.21%CC0553 Water Operations 12,995,563 - 5,249,670 7,745,892 40.40% 15,387,371 (10,137,701) 34.12%
Non-Operating Expense Total 354,554,065 7,961,275 38,723,356 315,830,709 10.92% 354,612,519 315,889,162 10.92%
Excess (Deficiency) of Total Revenue over Total Requirements (102,858,285) (185,340,440) 248,719,690 351,577,975 -241.81% (85,639,018) 334,358,708 -290.43%
Ending Fund Balance 77,568,114 - 429,146,089 351,577,975 553.25% 94,787,381 334,358,708 452.75% Reserves
Contingency Reserve 10,942,451 - 10,942,451 - 100.00% 10,942,451 - 100.00%
Non-Operating Reserve 10,000,000 - 10,000,000 - 100.00% 10,000,000 - 100.00%Impact Fee Reserve 9,157,405 - 80,467,171 71,309,766 878.71% 9,157,405 (71,309,766) 878.71%Reserves Total 30,099,856 101,409,622 71,309,766 336.91% 30,099,856 (71,309,766) 336.91% Estimated Operational Roll
Forward 316,011,641
Available Fund Balance 47,468,258 - 11,724,826 (35,743,432) 24.70% 64,687,525 (52,962,699) 18.13%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects.
27
TOURISM FUND EXPENSES:
The Operating expense budget for the Tourism Fund totals $1,639,532, which includes a $52,407
transfer out to the General Fund. Year-to-date operating expenses total $1,486,522, or 90.67% of
budget. Expenses are increased over the prior year due to Red Poppy Festival successfully
returning in April.
Tourism Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of
Budget Variance % Variance
Expenses
CC0001 Non-Departmental 52,407 28,634 52,407 - 100.00% (23,773) 183.02%
CC0208 CVB 1,294,883 995,389 1,137,137 157,746 87.82% (141,749) 114.24%
CC0254 Poppy Festival 292,242 47,209 296,978 (4,736) 101.62% (249,769) 629.07%
Expense Total 1,639,532 1,071,232 1,486,522 153,010 90.67% (415,290) 138.77%
FY2022 EXPENSE PROJECTIONS:
Tourism Fund
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals: Q4
FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Expenses
CC0001 Non-Departmental 52,407 52,407 - 100.00% 52,407 - 100.00%
CC0208 CVB 1,294,883 1,137,137 157,746 87.82% 1,232,736 95,598 92.25%
CC0254 Poppy Festival 292,242 296,978 (4,736) 101.62% 301,477 4,499 98.51%
Expense Total 1,639,532 1,486,522 153,010 90.67% 1,586,620 100,097 93.69%
Total expenses were projected to end FY2022 at $1,586,620. Through the quarter, actual expenses
are $1,486,522, or 93.69% of projections.
Overall, Tourism Fund expenditures are within budget and the fund can cover the 90-day
Contingency Reserve. Ending fund balance is budgeted to be $1,428,147 in FY2022 with an
operating contingency reserve of $337,842, and a capital reserve of $1,090,305. The unaudited,
actual ending fund balance for FY2022 is $2,325,447, and the available fund balance is $897,300.
29
Fund Schedule:
Tourism
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 1,901,665 1,901,665 -100.00% 1,901,665 -100.00%
Revenue
40008:Other Taxes 1,006,014 305,240 1,700,895 694,881 169.07% 1,400,000 300,895 121.49%
42001:Interest Income 5,000 2,497 10,681 5,681 213.62% 3,500 7,181 305.17%
45001:Misc Revenue 105,000 709 139,191 34,191 132.56% 137,516 1,675 101.22%
44001:Grant Revenue - - 538 538 0.00% - 538 0.00%
44505:Sponsorship 50,000 - 59,000 9,000 118.00% 60,000 (1,000) 98.33%
Total Revenue 1,166,014 308,446 1,910,304 744,290 163.83% 1,601,016 309,288 119.32%
Expense
Personnel 458,015 57,107 455,727 2,287 99.50% 469,235 13,507 97.12%
Operations 1,129,111 116,843 978,388 150,723 86.65% 1,064,978 86,590 91.87%
Transfers 52,407 - 52,407 - 100.00% 52,407 - 100.00%
Total Expense 1,639,532 173,950 1,486,522 153,010 90.67% 1,586,620 100,097 93.69%
Excess (Deficiency) of Total
Revenue over Total
Requirements (473,518) 134,495 423,782 897,300 -89.50% 14,396 409,386 2943.67%
Ending Fund Balance 1,428,147 134,495 2,325,447 897,300 173.16% 1,916,061 409,386 121.37%
Reserves
Capital Reserve 1,090,305 - 1,090,305 - 100.00% 1,090,305 - 100.00%
Contingency Reserve 337,842 - 337,842 - 100.00% 337,842 - 100.00%
Reserves Total 1,428,147 1,428,147 -100.00% 1,428,147 -100.00%
Available Fund Balance (0) - 897,300 897,300 0.00% 487,914 409,386 183.91%
30
FY2022 REVENUE PROJECTIONS:
Airport Fund
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Revenue
40001:Property Taxes 57,000 59,843 2,843 104.99% 59,423 420 100.71%
42001:Interest Income 3,025 17,890 14,865 591.40% 2,568 15,322 696.64%
43005:Rental Revenue - 271,426 271,426 0.00% - 271,426 0.00%
43606:Airport Charges 3,919,760 5,476,986 1,557,226 139.73% 4,620,500 856,486 118.54%
Operating Revenue Total 3,979,785 5,826,145 1,846,360 146.39% 4,682,491 1,143,654 124.42%
Non-Operating Revenue
45001:Misc Revenue 1,000 7,962 6,962 796.15% 10,000 (2,038) 79.62%
44001:Grant Revenue 108,000 86,901 (21,099) 80.46% 40,000 46,901 217.25%
46001:Bond Proceeds 500,000 495,000 (5,000) 99.00% 495,000 - 100.00%
46002:Bond Premium - 21,289 21,289 0.00% 21,289 0 100.00%
Non-Operating Revenue
Total 609,000 611,152 2,152 100.35% 566,289 44,863 107.92%
Total Revenue 4,588,785 6,437,297 1,848,512 140.28% 5,248,780 1,188,517 122.64%
Total revenues were projected to end FY2022 at $5,248,780. Through the quarter, actuals are
$6,437,297, or 122.64% of total projections.
AIRPORT FUND EXPENSES:
Operating expenses in the Airport fund include a budget of $4,381,470. Year-to-date
operation expenses totals $5,424,649. The majority of the operations budget is fuel for sales.
The year-end budget amendment will include the airport fund due to the increased price of
fuel. Year-to-date operating capital is $64,358, or 99.01% of budget. The Airport purchased a
John Deere Track Loader and received TXDOT approval for partial reimbursement of $61,000
through the CARES Act.
The budget for non-operating expenses total $1,444,226. This includes a CIP expense of
$1,250,000 for the construction of a maintenance facility at the airport. Staff included
additional funding as part of the rollforward budget amendment as the costs of the facility
increased after the design and bid. The unfinished project will roll forward into the FY2023
budget amendment. The remaining amount of non-operating expense is for the airport’s debt
service payment. The debt payment was made in the summer to align with the City’s annual
debt schedule.
32
Airport Fund
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
Personnel 509,810 447,529 425,781 84,029 83.52% 21,748 -4.86%
Operations 3,806,660 3,177,144 4,934,510 (1,127,850) 129.63% (1,757,366) 55.31%
Operating Capital 65,000 100,563 64,358 642 99.01% 36,204 -36.00%
Total Operating Expenses 4,381,470 3,725,236 5,424,649 (1,043,180) 123.81% (1,699,413) 45.62%
Non-Operating Expense
CIP Expense 1,250,000 - - 1,250,000 0.00% - 0.00%
Debt Service 194,226 147,341 194,895 (669) 100.34% (47,555) 32.28%
Non-Operating Expense
Total 1,444,226 147,341 194,895 1,249,331 13.49% 47,555 32.28%
Expense Total 5,825,696 3,872,577 5,619,545 206,151 96.46% 1,746,968 45.11%
FY2022 EXPENSE PROJECTIONS:
Airport Fund
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Personnel 509,810 425,781 84,029 83.52% 457,561 31,780 93.05%
Operations 3,806,660 4,934,510 (1,127,850) 129.63% 4,190,777 (743,733) 117.75%
Operating Capital 65,000 64,358 642 99.01% 110,939 46,581 58.01%
Total Operating Expenses 4,381,470 5,424,649 (1,043,180) 123.81% 4,759,277 (665,372) 113.98%
Non-Operating Expense
CIP Expense 1,250,000 - 1,250,000 0.00% 1,250,000 1,250,000 0.00%
Debt Service 194,226 194,895 (669) 100.34% 195,094 199 99.90%
Non-Operating Expense
Total 1,444,226 194,895 1,249,331 13.49% 1,445,094 1,250,199 13.49%
Expense Total 5,825,696 5,619,545 206,151 96.46% 6,204,371 584,827 90.57%
Total expenses were projected to end FY2022 at $6,204,371. Through the quarter, actual
expenses are $5,619,545, or 90.57% of total projections.
33
Fund Schedule:
Airport Operations
Period: Sep-22 Budget
Current
Period
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals w/Encumbrances Variance % of Budget Projections Variance Fav/(Unfav) % of Projection
Beginning Fund Balance 2,456,872 2,456,872 -100.00% 2,456,872 -100.00%
Operating Revenues
40001:Property Taxes 57,000 59,843 59,843 2,843 104.99% 59,423 420 100.71% 42001:Interest Income 3,025 4,399 17,890 14,865 591.40% 2,568 15,322 696.64%
43005:Rental Revenue - 23,269 271,426 271,426 0.00% - 271,426 0.00%
43606:Airport Charges 3,919,760 558,561 5,476,986 1,557,226 139.73% 4,620,500 856,486 118.54%
Total Operating
Revenues 3,979,785 646,072 5,826,145 1,846,360 146.39% 4,682,491 1,143,654 124.42%
Operating Expenses
Personnel 509,810 68,630 425,781 84,029 83.52% 457,561 31,780 93.05%
Operations 3,806,660 441,603 4,934,510 (1,127,850) 129.63% 4,190,777 (743,733) 117.75%
Operating Capital 65,000 - 64,358 642 99.01% 110,939 46,581 58.01%
Total Operating
Expenses 4,381,470 510,233 5,424,649 (1,043,180) 123.81% 4,759,277 (665,372) 113.98%
Non-Operating Revenues
45001:Misc Revenue 1,000 - 7,962 6,962 796.15% 10,000 (2,038) 79.62% 44001:Grant Revenue 108,000 50,000 86,901 (21,099) 80.46% 40,000 46,901 217.25%
46001:Bond Proceeds 500,000 - 495,000 (5,000) 99.00% 495,000 - 100.00%
46002:Bond Premium - - 21,289 21,289 0.00% 21,289 0 100.00%
Total Non-Operating
Revenues 609,000 50,000 611,152 2,152 100.35% 566,289 44,863 107.92%
Non-Operating Expenses
CIP Expense 1,250,000 - - 1,250,000 0.00% 1,250,000 1,250,000 0.00%
Debt Service 194,226 (217) 194,895 (669) 100.34% 195,094 199 99.90%
Total Non-Operating
Expenses 1,444,226 (217) 194,895 1,249,331 13.49% 1,445,094 1,250,199 13.49%
Excess (Deficiency) of Total Revenue over Total
Requirements (1,236,911) 186,056 817,753 2,054,663 -66.11% (955,591) 1,773,344 -85.58%
Ending Fund Balance 1,219,961 186,056 3,274,625 2,054,663 268.42% 1,501,281 1,773,344 218.12%
Reserves
AFR Adjustment - - - - 0.00% - - 0.00%
Contingency Reserve 342,905 - 342,905 - 100.00% 342,905 - 100.00%
Reserves for Debt
Service 186,458 - 186,458 - 100.00% 186,458 - 100.00%
Reserves Total 529,363 - 529,363 -100.00% 529,363 - 100.00%
Estimated Operational
Roll Forward 1,250,000
Available Fund Balance 690,598 - 1,495,262 804,663 216.52% 971,918 523,344 153.85%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects
34
Total revenues were projected to end FY2022 at $4,931,071. Through the quarter, actuals are
$5,003,140, or 101.46% of total projections.
STORMWATER EXPENSES:
Operating expenses in the Stormwater Fund include a budget of $3,952,554. Year-to-date
operating expenses total $3,427,510. Operating Capital has a budget of $500,000 for infrastructure
improvements and various drainage and flood mitigation maintenance. Year-to-date operating
capital is $34,321, or 6.86% of budget.
The budget for non-operating expenses total $2,031,987. This includes a CIP expense of $1,540,847
for the construction of curb and gutters as well as drainage improvements and Stormwater
Infrastructure. Debt Service has a budget of $491,140.
Stormwater Services
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % of Budget Variance % Variance
Operating Expense
Personnel 746,759 549,478 680,310 66,449 91.10% (130,832) 23.81%
Operations 2,391,014 1,839,411 2,362,615 28,399 98.81% (523,204) 28.44%
Operating Capital 500,000 505 34,321 465,679 6.86% (33,816) 6694.97%
Transfers 314,780 315,557 350,263 (35,483) 111.27% (34,706) 11.00%
Total Operating Expenses 3,952,554 2,704,951 3,427,510 525,044 86.72% (722,559) 26.71%
Non-Operating Expense
CIP Expense 1,540,847 381,902 179,436 1,361,411 11.65% 202,465 -53.02%
Debt Service 491,140 485,441 491,621 (481) 100.10% (6,180) 1.27%
Non-Operating Expense Total 2,031,987 867,342 671,057 1,360,930 33.02% 196,285 -22.63%
Expense Total 5,984,541 3,572,293 4,098,567 1,885,974 68.49% (526,274) 14.73%
FY2022 Expense Projections:
Stormwater Services
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % of Budget Projections
FY2022
Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Personnel 746,759 680,310 66,449 91.10% 693,518 13,208 98.10%
Operations 2,391,014 2,362,615 28,399 98.81% 2,390,514 27,899 98.83%
Operating Capital 500,000 34,321 465,679 6.86% 500,000 465,679 6.86%
Transfers 314,780 350,263 (35,483) 111.27% 341,029 (9,234) 102.71%
Total Operating Expenses 3,952,554 3,427,510 525,044 86.72% 3,925,062 497,552 87.32%
Non-Operating Expense
CIP Expense 1,540,847 179,436 1,361,411 11.65% 1,540,847 1,361,411 11.65%
Debt Service 491,140 491,621 (481) 100.10% 491,157 (464) 100.09%
Non-Operating Expense Total 2,031,987 671,057 1,360,930 33.02% 2,032,004 1,360,947 33.02%
Expense Total 5,984,541 4,098,567 1,885,974 68.49% 5,957,066 1,858,499 68.80%
36
Total expenses are projected to end FY2022 at $5,957,066. Through the quarter, actual expenses are
$4,098,567, or 68.80% of total projections. Expenses were lower than projected due to curb, gutter,
and drainage improvement projects that were not completed in FY2022. Additionally, a year-end
amendment is proposed to reallocate funding towards capital equipment.
Overall, Stormwater expenditures are within budget and the fund can cover the 90-day
Contingency Reserve. Ending fund balance is budgeted to be $2,372,539 in FY2022 with an
operating contingency reserve of $413,189 and a debt service reserve of $486,959. The unaudited,
actual ending fund balance is $4,782,246, and the available fund balance is $3,882,098. Funding for
capital projects still in process will be rolled forward in the FY2023 budget amendment.
37
Fund Schedule:
Stormwater Services
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance % of
Projection
Beginning Fund Balance 3,877,673 3,877,673 -100.00% 3,877,673 -100.00%
Operating Revenues
41002:Penalties 32,000 3,612 45,969 13,969 143.65% 50,000 (4,031) 91.94%
42001:Interest Income 6,800 5,693 24,874 18,074 365.79% 8,000 16,874 310.92%
43605:Stormwater Charges 3,940,607 392,999 4,416,008 475,401 112.06% 4,351,782 64,226 101.48%
Total Operating Revenues 3,979,407 402,305 4,486,850 507,443 112.75% 4,409,782 77,068 101.75%
Operating Expenses
Personnel 746,759 97,820 680,310 66,449 91.10% 693,518 13,208 98.10%
Operations 2,391,014 241,990 2,362,615 28,399 98.81% 2,390,514 27,899 98.83%
Operating Capital 500,000 1,260 34,321 465,679 6.86% 500,000 465,679 6.86%
Transfers 314,780 27,763 350,263 (35,483) 111.27% 341,029 (9,234) 102.71%
Total Operating Expenses 3,952,554 368,832 3,427,510 525,044 86.72% 3,925,062 497,552 87.32%
Available Operating Funds 26,853 33,473 1,059,341 1,032,488 3944.91% 484,720 574,620 218.55%
Non-Operating Revenues
46001:Bond Proceeds 500,000 - 495,000 (5,000) 99.00% 500,000 (5,000) -1.00%
46002:Bond Premium - - 21,289 21,289 0.00% 21,289 0 0.00%
Total Non-Operating
Revenues 500,000 - 516,289 16,289 103.26% 521,289 (5,000) -0.96%
Non-Operating Expenses
CIP Expense 1,540,847 9,879 179,436 1,361,411 11.65% 1,540,847 1,361,411 11.65%
Debt Service 491,140 - 491,621 (481) 100.10% 491,157 (464) 100.09%
Total Non-Operating
Expenses 2,031,987 9,879 671,057 1,360,930 33.02% 2,032,004 1,360,947 33.02%
Excess (Deficiency) of Total
Revenue over Total
Requirements (1,505,134) 23,594 904,573 2,409,707 -60.10% (1,025,995) 1,930,568 -88.17%
Ending Fund Balance 2,372,539 23,594 4,782,246 2,409,707 201.57% 2,851,678 1,930,568 167.70%
Reserves
Contingency Reserve 413,189 413,189 - 100.00% 413,189 - 100.00%
Debt Service Reserve 486,959 486,959 - 100.00% 486,959 - 100.00%
Reserves Total 900,148 900,148 - 100.00% 900,148 - 100.00%
Estimated Operational Roll
Forward 1,081,411
Available Fund Balance 1,472,391 2,800,687 2,409,707 190.21% 1,951,530 849,157 143.51%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January
Amendment. These include multi-year capital projects, one-time equipment ordered but not received, and other
special projects
38
Total revenues were projected to end FY2022 at $16,641,431. Through the quarter, actuals are
$16,786,287, or 100.87% of total projections.
GTEC EXPENSES:
Operating expenses year-to-date total $3,374,184, or 96.96% of budget through the period.
Operating expenses are predominately made up of administrative expenses and transfers to other
City funds. Administrative expenses include the allocation for City staff to support the GTEC fund.
Year-to-date administrative expenses total $247,416, or 99.88% of budget. Through the quarter,
GTEC transferred out $3,126,768 for their portion of debt that is paid out of the General Debt Service
fund.
Non-Operating expense budget totals $23,346,242. Year-to-date non-operating expenses total
$7,619,459, or 32.64% of budget. Non-Operating expenses include funding for strategic
partnerships, capital improvement projects, and debt service payment. GTEC’s year-to-date debt
service payment totals $921,728, or 97.59% of budget. The debt service payment is made in the
summer and aligns with all other debt service payments for the City. CIP expense budget totals
$19,901,742 in the current year. This amount includes the CIP Roll Forward amendment approved
by Council in January.
GTEC
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022 YTD Actuals:
Q4 FY21
YTD Actuals:
Q4 FY22 Variance % Of Budget Variance % Variance
Operating Expense
Operations 247,716 346,223 247,416 300 99.88% 98,807 -28.54%
Transfers 3,232,111 2,758,343 3,126,768 105,343 96.74% (368,425) 13.36%
Total Operating Expenses 3,479,827 3,104,567 3,374,184 105,643 96.96% (269,617) 8.68%
Non-Operating Expense
Operations 2,500,000 - - 2,500,000 0.00% - 0.00%
CIP Expense 19,901,742 4,027,459 6,697,731 13,204,011 33.65% (2,670,271) 166.30%
Debt Service 944,500 883,535 921,728 22,772 97.59% (38,194) 104.32%
Total Non-Operating
Expenses 23,346,242 4,910,994 7,619,459 15,726,782 32.64% (2,708,465) 155.15%
Expense Total 26,826,069 8,015,561 10,993,643 15,832,425 40.98% (2,978,082) 37.15%
41
FY2022 Expense Projections:
GTEC
Quarterly Comparison: Q4
FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 YTD Actuals:
Q4 FY22 Variance % Of Budget Projections Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Operations 247,716 247,416 300 99.88% 247,416 - 100.00%
Transfers 3,232,111 3,126,768 105,343 96.74% 3,232,111 105,343 96.74%
Total Operating Expenses 3,479,827 3,374,184 105,643 96.96% 3,479,527 105,343 96.97%
Non-Operating Expense
Operations 2,500,000 - 2,500,000 0.00% 9,700,000 9,700,000 0.00%
CIP Expense 19,901,742 6,697,731 13,204,011 33.65% 19,901,742 13,204,011 33.65%
Debt Service 944,500 921,728 22,772 97.59% 944,500 22,772 97.59%
Total Non-Operating
Expenses 23,346,242 7,619,459 15,726,782 32.64% 30,546,242 22,926,782 24.94%
Expense Total 26,826,069 10,993,643 15,832,425 40.98% 34,025,769 23,032,125 32.31%
Total expenses were projected to end FY2022 over budget, at $34,025,769. However, due to the
timing of projects and approved economic development incentive agreement payments, actual
expenses are $10,993,643, only 32.31% of total projections.
Ending fund balance for FY2022 is budgeted to be $26,922,979. After accounting for the
contingency reserve of $2,617,664, and the debt service reserve of $3,918,959, this fund has a
budgeted available fund balance of $20,386,356. Due to the timing of projects, which resulted in
lower than budgeted expenses, the unaudited, actual ending fund balance is $44,692,687, and the
available fund balance is $38,156,064. The capital improvement projects that are still in process will
be rolled forward in the FY2023 budget amendment.
42
Fund Schedule:
GTEC
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals
FY2022 Year-End: Projections Vs.
Actuals
FY2022 Sep-22 YTD Actuals Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 38,900,043 41,794,893 2,894,850 107.44% 41,794,893 -100.00%
Operating Revenue
40002:Sales Taxes 11,125,005 3,240,596 12,591,950 1,466,945 113.19% 12,654,073 (62,123) 99.51%
42001:Interest Income 24,000 76,210 256,979 232,979 1070.74% 50,000 206,979 513.96%
Operating Revenue Total 11,149,005 3,316,807 12,848,929 1,699,924 115.25% 12,704,073 144,856 101.14%
Operating Expense
Operations 247,716 20,618 247,416 300 99.88% 247,416 - 100.00%
Transfers 3,232,111 - 3,126,768 105,343 96.74% 3,232,111 105,343 96.74%
Operating Expense Total 3,479,827 20,618 3,374,184 105,643 96.96% 3,479,527 105,343 96.97%
Net Operations Total 7,669,178 3,296,189 9,474,745 1,594,281 123.54% 9,224,546 39,513 102.71%
Non-Operating Revenue
46001:Bond Proceeds 3,700,000 - 3,775,000 75,000 102.03% 3,775,000 - 0.00%
46002:Bond Premium - - 162,358 162,358 0.00% 162,358 0 0.00%
Non-Operating Revenue
Total 3,700,000 - 3,937,358 237,358 106.42% 3,937,358 0 0.00%
Non-Operating Expense
Operations 2,500,000 - - 2,500,000 0.00% 9,700,000 9,700,000 0.00%
CIP Expense 19,901,742 (358,821) 6,697,731 13,204,011 33.65% 19,901,742 13,204,011 33.65%
Debt Service 944,500 (1,656) 921,728 22,772 97.59% 944,500 22,772 97.59%
Non-Operating Expense
Total 23,346,242 (360,477) 7,619,459 15,726,782 32.64% 30,546,242 22,926,782 24.94%
Excess (Deficiency) of Total
Revenue over Total
Requirements (11,977,064) (8,517,855) (307,917) 11,669,147 2.57% (23,129,357) 22,821,440 1.33%
Ending Fund Balance 26,922,979 47,587,537 20,664,557 176.75% 24,410,555 23,176,981 194.95%
Reserves
AFR Adjustment - - - 0.00% - - 0.00%
Contingency Reserve 2,617,664 2,617,664 - 100.00% 2,617,664 - 100.00%
Debt Service Reserve 3,918,959 3,918,959 - 100.00% 3,918,959 - 100.00%
Reserves Total 6,536,623 6,536,623 - 100.00% 6,536,623 - 100.00%
Estimated Operational Roll
Forward 13,168,744
Available Fund Balance 20,386,356 27,882,170 7,495,813 136.77% 17,873,932 10,008,237 155.99%
Footnote: The Estimated Roll Forward line includes funds that will be re-appropriated in the FY2023 January Amendment.
These include multi-year capital projects, one-time equipment ordered but not received, and other special projects.
43
GEDCO
Quarterly Comparison: Q4
FY22 Budget FY2021 FY2022
FY2022 Year-to-date:
Budget Vs. Actuals Quarterly Comparison
FY2022
YTD
Actuals: Q4
FY21
YTD
Actuals: Q4
FY22
Variance % Variance Variance % Variance
Operating Expense
Operations 682,104 406,571 453,574 228,530 66.50% (47,003) 11.56%
Transfers 202,769 1,200,284 202,889 (120) 100.06% 997,395 -83.10%
Operating Expense Total 884,873 1,606,855 656,463 228,410 74.19% 950,392 -59.15%
Non-Operating Expense
Operations 1,076,000 396,500 3,100,000 (2,024,000) 288.10% (2,703,500) 681.84%
Debt Service 92,048 90,572 92,048 - 100.00% (1,476) 1.63%
Operating Expense Total 1,168,048 487,072 3,192,048 (2,024,000) 273.28% (2,704,976) 555.35%
Expense Total 2,052,921 2,093,927 3,848,511 (1,795,590) 187.47% (1,754,584) 84%
FY2022 Expense Projections:
GEDCO
Quarterly Comparison: Q4 FY22 Budget FY2022
FY2022 Year-to-date:
Budget Vs. Actuals FY2022 Year End: Projections Vs. Actuals
FY2022
YTD
Actuals: Q4
FY22
Variance % Variance Projections Variance
Fav/(Unfav)
% of
Projection
Operating Expense
Operations 682,104 453,574 228,530 66.50% 546,154 92,580 83.05%
Transfers 202,769 202,889 (120) 100.06% 202,769 (120) 100.06%
Operating Expense Total 884,873 656,463 228,410 74.19% 748,923 92,460 87.65%
Non-Operating Expense
Operations 1,076,000 3,100,000 (2,024,000) 288.10% 6,064,000 2,964,000 51.12%
Debt Service 92,048 92,048 - 100.00% 92,048 - 100.00%
Operating Expense Total 1,168,048 3,192,048 (2,024,000) 273.28% 6,156,048 2,964,000 51.85%
Expense Total 2,052,921 3,848,511 (1,795,590) 187.47% 6,904,971 3,056,460 55.74%
Total expenses were projected to be significantly over budget at $6,904,971. However, due to the
timing of economic development agreements, actual expenses are $3,848,511, or 55.74% of total
projections.
Ending fund balance for FY2022 is budgeted at $1,746,055. After accounting for the contingency
reserve of $665,371, and the debt service reserve of $204,019, this fund is budgeted to have an
available fund balance of $876,665. The unaudited, actual ending fund balance is $3,541,838, and
the available fund balance is $2,672,448.
46
Fund Schedule:
GEDCO
Period: Sep-22 Budget
Current
Period FY2022
FY2022 Year-to-date:
Budget Vs. Actuals
FY2022 Year End:
Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 992,725 6,416,281 5,423,556 646.33% 6,416,281 -100.00%
Operating Revenue
40002:Sales Taxes 2,781,251 810,149 3,147,988 366,737 113.19% 3,163,518 (15,530) 99.51%
42001:Interest Income 25,000 16,666 57,588 32,588 230.35% 25,000 32,588 230.35%
Operating Revenue Total 2,806,251 826,815 3,205,576 399,325 114.23% 3,188,518 17,058 100.53%
Operating Expense
Operations 682,104 41,080 453,574 228,530 66.50% 546,154 92,580 83.05%
Transfers 202,769 - 202,889 (120) 100.06% 202,769 (120) 100.06%
Operating Expense Total 884,873 41,080 656,463 228,410 74.19% 748,923 92,460 87.65%
Net Operations Total 1,921,378 785,735 2,549,113 (627,735)132.67% 2,439,595 109,518 104.49%
Non-Operating Revenue
45001:Misc Revenue - - 2,609 2,609 0.00% 2,610 (1) 99.97%
Non-Operating Revenue
Total - - 2,609 2,609 0.00% 2,610 (1)99.97%
Non-Operating Expense
Operations 1,076,000 - 3,100,000 2,024,000 288.10% 6,064,000 2,964,000 51.12%
Debt Service 92,048 92,048 92,048 - 100.00% 92,048 - 100.00%
Non-Operating Expense
Total 1,168,048 92,048 3,192,048 2,024,000 273.28% 6,156,048 2,964,000 51.85%
Excess (Deficiency) of
Total Revenue over Total
Requirements 753,330 693,687 (7,051,477) (7,804,807) -936.04% (3,713,843) (3,337,634) 189.87%
Ending Fund Balance 1,746,055 5,775,955 4,029,900 330.80% 2,702,438 3,073,517 213.73%
Reserves
AFR Adjustment - - - - 0.00% - - 0.00%
Contingency Reserve 665,371 - 665,371 - 100.00% 665,371 - 100.00%
Debt Service Reserve 204,019 - 204,019 - 100.00% 204,019 - 100.00%
Reserves Total 869,390 - 869,390 - 100.00% 869,390 - 100.00%
Available Fund Balance 876,665 - 4,906,565 4,029,900 559.69% 1,833,048 3,073,517 267.67%
47
Fund Schedule:
Village PID
Period: Sep-22 Budget Current Period FY2022 Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of Budget Projection Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 702,519 702,519 - 100.00% 749,733 (47,214) 93.70%
Revenue 40001:Property Taxes 522,274 (750) 502,199 (20,075) 96.16% 522,674 (20,475) 96.08%
42001:Interest Income 1,000 (46) 339 (661) 33.93% 1,000 (661) 33.93%45003:Misc
Reimbursements - - 1,676 1,676 0.00% - 1,676 0.00%
Revenue Total 523,274 (796) 504,214 (19,060) 96.36% 523,674 (19,460) 96.28%
Expense 53004:Insurance Expense 1,030 - - 1,030 0.00% 1,030 1,030 0.00%
51001:Administrative Expense 37,651 4,241 43,168 (5,517) 114.65% 37,651 (5,517) 114.65%
51002:Publishing & Printing 2,163 229 323 1,840 14.95% 2,163 1,840 14.95%
51004:Contractual Services 20,600 1,826 17,017 3,583 82.61% 20,600 3,583 82.61%51005:Professional
Services - - 339 (339) 0.00% 339 0 99.88%
51007:Contracts & Leases 178,705 8,085 147,394 31,311 82.48% 178,705 31,311 82.48%
51008:Utilities 57,680 5,016 63,829 (6,149) 110.66% 61,398 (2,431) 103.96%
52509:Maintenance
Expense 97,596 20,688 24,163 73,433 24.76% 97,596 73,433 24.76%
60004:Capital Outlay -
Equipment 19,789 - 19,789 - 100.0% 19,789 - 100.00%
60009:Capital Outlay -
Improvements 520,436 - 38,150 482,286 7.33% 520,436 482,286 7.33%
Expense Total 935,650 40,084 354,172 581,478 37.85% 939,707 585,535 37.69%
Excess (Deficiency) of Total
Revenue over Total Requirements (412,376) (40,880) 150,043 (562,419) -36.38% (416,033) 566,076 -36.07%
Ending Fund Balance 290,143 (40,880) 852,562 562,419 293.84% 333,700 518,862 255.49%
Reserves
Contingency Reserve 113,053 - 113,053 - 100.00% 113,053 - 100.00%Debt Service Reserve - - - - 0.00% - - 0.00%
Reserves Total 113,053 113,053 - 100.00% 113,053 - 100.00%
Available Fund Balance 177,090 - 739,509 562,419 417.59% 220,647 518,862 335.15%
49
Fund Schedule:
Council Discretionary
Period: Sep-22 Budget
Current
Period Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals Variance % of
Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 2,317,139 2,317,139 -100.00% 110,966 2,206,173 4.79%
Revenue
42001:Interest Income 150 5,523 10,544 10,394 7029.40% 150 10,394 7029.40%
70001:Transfers In 2,670,950 2,670,950 2,670,950 - 100.00% 2,670,950 - 100.00%
Total Revenue 2,671,100 2,676,473 2,681,494 10,394 100.39% 2,671,100 10,394 100.39%
Expense
Transfers - 25,000 25,000 (25,000) 0.00% 25,000 - 100.00%
Total Expense - 25,000 25,000 (25,000) 0.00% 25,000 - 100.00%
Excess (Deficiency) of Total
Revenue over Total
Requirements 2,671,100 2,651,473 2,656,494 (14,606) 99.45% 2,646,100 10,394 100.39%
Ending Fund Balance 4,988,239 2,651,473 4,973,633 35,394 99.71% 2,757,066 2,216,567 180.40%
Reserves
AFR Adjustment - - - - - - - 0.00%
Contingency Reserve - - - - - - - 0.00%
Debt Service Reserve - - - - - - - 0.00%
Reserves Total - - - - - - - 0.00%
Available Fund Balance 4,988,239 - 4,973,633 (14,606) 99.71% 2,757,066 2,216,567 180.40%
50
Fund Schedule:
Joint Services
Period: Sep-22 Budget
Current
Period FY2022 Budget Vs. Actuals Year-End: Projections Vs. Actuals
FY2022 Sep-22 YTD Actuals:
Sep-22 Variance % of Budget Projections Variance
Fav/(Unfav)
% of
Projection
Beginning Fund Balance 2,418,339 2,418,339 -100.00% 2,418,339 -100.00%
Revenue
41002:Penalties - 1,449 30,149 30,149 0.00% 30,000 149 100.50%
42001:Interest Income 6,250 5,703 16,370 10,120 261.92% 6,250 10,120 261.92%
43001:Fees 11,600 7,050 30,900 19,300 266.38% 22,000 8,900 140.45%
43004:Administrative Charges 20,945,621 1,671,951 20,947,314 1,693 100.01% 20,945,621 1,693 100.01%
43005:Rental Revenue - - 100 100 0.00% - 100 0.00%
45001:Misc Revenue - (1,071) 2,538 2,538 0.00% 30 2,508 8458.47%45002:Insurance Proceeds 100,000 23,947 184,630 84,630 184.63% 140,000 44,630 131.88%
45003:Misc Reimbursements 120,000 18,814 77,134 (42,867) 64.28% 160,000 (82,867) 48.21%44001:Grant Revenue - - 28,388 28,388 0.00% - 28,388 0.00%
44502:Developer Contributions - - 0 0 0.00% - 0 0.00%70001:Transfers In 1,597,491 1,597,491 1,597,491 - 100.00% 1,597,491 - 100.00%
Revenue Total 22,780,962 3,325,333 22,915,012 134,050 100.59% 22,901,392 13,620 100.06%
Expense
CC0001 Non-Departmental 1,079,500 (222,622) 1,671,814 (592,314) 154.87% 1,579,500 (92,314) 105.84%
CC0302 Finance Administration 1,258,221 112,411 1,105,009 153,212 87.82% 1,145,053 40,044 96.50%
CC0315 Accounting 1,610,064 173,955 1,431,273 178,792 88.90% 1,526,000 94,727 93.79%
CC0317 Purchasing 1,083,516 121,936 992,677 90,839 91.62% 1,019,457 26,780 97.37%
CC0321 Utility Customer Service 1,083,714 79,929 925,395 158,320 85.39% 1,108,685 183,291 83.47%
CC0322 Utility Customer Billing 1,314,893 198,786 1,181,086 133,807 89.82% 1,152,928 (28,158) 102.44%CC0324 Customer Admin & Data
Analytics 4,808,701 511,111 4,784,193 24,508 99.49% 4,773,846 (10,348) 100.22%CC0503 Organizational and
Operational Excellence 384,444 24,271 338,014 46,431 87.92% 375,601 37,587 89.99%CC0526 Systems Engineering 3,214,334 369,003 3,039,491 174,843 94.56% 3,242,388 202,897 93.74%
CC0534 Conservation - 24 45 (45) 0.00% - (45) 0.00%CC0637 Economic Development 662,086 60,288 593,221 68,865 89.60% 661,629 68,408 89.66%
CC0639 Human Resources 1,756,172 211,584 1,737,960 18,212 98.96% 1,749,032 11,072 99.37%
CC0640 Citywide Human
Resources 1,455,243 61,831 1,203,999 251,243 82.74% 1,396,041 192,042 86.24%
CC0654 Legal 1,464,224 (157,261) 1,298,398 165,827 88.67% 1,468,950 170,553 88.39%
CC0658 Real Estate Services 257,708 44,843 92,000 165,709 35.70% 150,419 58,419 61.16%
Expense Total 21,432,821 1,590,087 20,394,574 1,038,248 95.16% 21,349,529 954,955 95.53%
Excess (Deficiency) of Total
Revenue over Total Requirements 1,348,141 1,735,247 2,520,438 1,172,297 186.96% 1,551,863 968,574 162.41%
Ending Fund Balance 3,766,480 4,938,777 1,172,297 131.12% 3,970,202 968,574 124.40%
Reserves
Contingency Reserve 3,635,966 3,635,966 - 100.00% 3,635,966 - 100.00%
Reserves Total 3,635,966 3,635,966 - 100.00% 3,635,966 - 100.00%
Available Fund Balance 130,515 1,302,811 1,172,296 998.21% 334,236 968,574 389.79%
51
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 fourth quarter of fiscal year 2022
includes the maturing, reinvesting, new investments of financial institution deposits
(CDs) & purchases of treasury/agency securities. Principal and interest debt service
payments were made during this quarter, resulting in a decrease in total portfolio.
Interest rates continued to increase during this quarter after the FOMC met. We
continue to work closely with Valley View Consulting to select the best investments
as the market is changing rapidly.
The FOMC met in July and September and announced multiple increases in the Fed
Funds Rate from 1.50-1.75 in June to 3-3.25% in September. The FOMC will meet
again in November and December and are expected to increase rates again. 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 September 30, 2022. 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 September 30, 2022, 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 43.6%, debt service at .4%, and bond
proceeds/grants/reserved fund at 56%.
The City portfolio decreased during this quarter due to debt service payments. The
GTEC and GEDCO portfolios decreased in this quarter as well due to debt service
payments. The average yield increased on all portfolios due to increased rates in our
pools, newly purchased cd’s, and treasury/agency securities. Rates on securities have
helped the city diversify the portfolio compared to the prior year’s holdings.
52
CITY Book Value GTEC GEDCO
6/30/22 9/30/22 6/30/22 9/30/22 6/30/22 9/30/22
Total cash
and
investments
$745,141,630 $731,043,243 $39,670,916 $38,131,640 $9,114,870 $8,733,297
Quarter
End
Average
Yield
.95% 2.08% .95% 2.54% .88% 2.52%
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 Engineering department is hiring a firm to assist with quicker execution of
capital projects. Finance staff are also assisting Economic Development staff with an
updated cash flow model for GEDCO to manage incentive agreement payments and
potential new projects.
The City’s investment portfolio generally includes bank deposits, local government
investment pool balances, money market accounts, financial institution deposits
(CD’s), and securities/agencies. 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
53
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 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 best to
receive the highest yield on the account. These balances earn credit against the fees
charged by the bank, however, according to the contract, there will not be any fees
assessed in the first year. 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. This
report provides 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 to demand for transportation
and water services, City staff have formed a working group with the goal of
improving work capacity and efficiencies, and ultimately customer service, related to
capital projects. The 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. A Communications and
Public Engagement staff person has also been re-organized to focus on capital
project status updates. For the FY2023 Budget, staff were added to the Water, Public
Works, and Engineering departments to assist with the workload of the capital
improvement plan. Additionally, Council agreed to implement a hybrid approach to
capital project management, and to hire contracted staff to manage transportation
and facilities projects over the next 3 or more years.
54
CITY
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 2022
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.
155
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Demand Accounts 0.22%22,970,725$ 22,970,725$ 0.50%12,506,553$ 12,506,553$
NOW/MMA 0.24%23,043,557 23,043,557 2.84%32,888,931 32,888,931
Pools 0.02%194,658,236 194,658,236 2.30%373,311,718 373,311,718
CDs/Securities 0.25%136,646,542 136,646,542 1.80%312,336,041 312,250,541
Totals 377,319,060$ 377,319,060$ 731,043,243$ 730,957,743$
Fourth Quarter-End Yield 0.13%2.08%
Average Quarter-End Yields (1):
2021 Fiscal Year 2022 Fiscal Year
Georgetown-City 0.21%0.89%
Rolling Three Month Treasury 0.06%1.06%
Rolling Six Month Treasury 0.08%1.01%
TexPool 0.04%0.90%
(1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2021
Annual Comparison of Portfolio Performance
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.256
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Demand Accounts 25,104,108$ 25,104,108 12,506,553$ 12,506,553$ 0.50%
NOW/MMA 16,076,373 16,076,373 32,888,931 32,888,931 2.84%
Pools 453,078,405 453,078,405 373,311,718 373,311,718 2.30%
CDs/Securities 250,882,744 250,882,744 312,336,041 312,250,541 1.80%
Totals 745,141,630$ 745,141,630$ 731,043,243$ 730,957,743$ 2.08%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 2.08%Total Portfolio 0.89%
Rolling Three Month Treasury 2.76%Rolling Three Month Treasury 1.06%
Rolling Six Month Treasury 2.46%Rolling Six Month Treasury 1.01%
TexPool 2.41%TexPool 0.90%
Bank Fees Offset
15,832$
Interest earnings provided in separate report.56,998$
June 30, 2022
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
Quarterly Bank Fees Offset
Year-to-date Bank Fees Offset
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.357
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)0.50%10/01/22 09/30/22 12,506,553$ 12,506,553$ 1.00 12,506,553$ 1 0.50%
JPMorgan Chase MMA 0.40%10/01/22 09/30/22 434,470 434,470 1.00 434,470 1 0.40%
Veritex Community Bank MMA 3.08%10/01/22 09/30/22 3,238,147 3,238,147 1.00 3,238,147 1 3.08%
Wells Fargo Bank Cash 2.70%10/01/22 09/30/22 16,727,590 16,727,590 1.00 16,727,590 1 2.70%
NexBank MMA 3.05%10/01/22 09/30/22 12,488,723 12,488,723 1.00 12,488,723 1 3.05%
TexPool AAAm 2.41%10/01/22 09/30/22 31,811,436 31,811,436 1.00 31,811,436 1 2.41%
TexSTAR AAAm 2.29%10/01/22 09/30/22 341,500,283 341,500,283 1.00 341,500,283 1 2.29%
Independent Bank CD 0.30%10/18/22 10/18/21 2,562,534 2,562,534 100.00 2,562,534 18 0.30%
Prosperity Bank CD 0.20%10/24/22 04/23/21 5,014,211 5,014,211 100.00 5,014,211 24 0.20%
East West Bank CD 0.21%11/15/22 11/15/21 10,018,428 10,018,428 100.00 10,018,428 46 0.21%
Prosperity Bank CD 0.40%11/17/22 11/17/20 2,014,712 2,014,712 100.00 2,014,712 48 0.40%
Prosperity Bank CD 0.15%11/23/22 08/23/21 2,003,257 2,003,257 100.00 2,003,257 54 0.15%
Prosperity Bank CD 0.15%12/21/22 09/21/21 5,007,505 5,007,505 100.00 5,007,505 82 0.15%
Alliance Bank CD 2.50%12/24/22 06/24/22 8,050,411 8,050,411 100.00 8,050,411 85 2.52%
East West Bank CD 1.06%12/26/22 03/25/22 12,066,396 12,066,396 100.00 12,066,396 87 1.07%
R Bank CD 0.60%12/31/22 06/30/21 1,007,557 1,007,557 100.00 1,007,557 92 0.60%
East West Bank CD 0.42%01/09/23 01/07/22 5,025,900 5,025,900 100.00 5,025,900 101 0.42%
East West Bank CD 0.51%01/20/23 01/20/22 10,035,553 10,035,553 100.00 10,035,553 112 0.51%
Alliance Bank CD 2.80%02/02/23 08/02/22 4,000,000 4,000,000 100.00 4,000,000 125 2.83%
Texas Capital Bank CD 2.80%02/04/23 08/04/22 7,768,451 7,768,451 100.00 7,768,451 127 2.80%
East West Bank CD 3.12%02/07/23 08/11/22 5,890,623 5,890,623 100.00 5,890,623 130 3.17%
East West Bank CD 0.83%02/08/23 02/08/22 8,042,865 8,042,865 100.00 8,042,865 131 0.83%
East West Bank CD 3.12%02/15/23 08/15/22 4,021,211 4,021,211 100.00 4,021,211 138 3.12%
Bank OZK CD 0.18%02/23/23 08/23/21 4,208,255 4,208,255 100.00 4,208,255 146 0.18%
East West Bank CD 1.19%02/27/23 02/25/22 20,142,652 20,142,652 100.00 20,142,652 150 1.20%
Veritex Community Bank CD 0.18%03/09/23 09/09/21 4,007,206 4,007,206 100.00 4,007,206 160 0.18%
East West Bank CD 1.15%03/14/23 03/14/22 15,095,293 15,095,293 100.00 15,095,293 165 1.16%
T-Bill Aaa/AAA 0.00%03/16/23 09/15/22 500,000 491,998 99.93 491,638 167 3.56%
T-Bill Aaa/AAA 0.00%03/16/23 09/15/22 26,050,000 25,633,091 99.93 25,614,354 167 3.56%
R Bank CD 3.00%03/23/23 09/22/22 4,503,330 4,503,330 100.00 4,503,330 174 3.05%
East West Bank CD 1.29%03/27/23 03/25/22 25,168,439 25,168,439 100.00 25,168,439 178 1.30%
Prosperity Bank CD 0.20%04/24/23 04/23/21 5,014,211 5,014,211 100.00 5,014,211 206 0.20%
Prosperity Bank CD 0.20%05/01/23 05/25/21 5,013,387 5,013,387 100.00 5,013,387 213 0.20%
Alliance Bank CD 2.95%05/02/23 08/02/22 4,000,000 4,000,000 100.00 4,000,000 214 2.98%
Texas Capital Bank CD 2.90%05/04/23 08/04/22 1,253,082 1,253,082 100.00 1,253,082 216 2.90%
East West Bank CD 3.22%05/10/23 08/10/22 3,021,724 3,021,724 100.00 3,021,724 222 3.27%
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.559
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
September 30, 2022
Bank OZK CD 0.20%06/12/23 06/11/21 5,023,884 5,023,884 100.00 5,023,884 255 0.20%
East West Bank CD 2.99%06/16/23 06/16/22 15,132,051 15,132,051 100.00 15,132,051 259 3.04%
Texas Capital Bank CD 3.42%06/16/23 09/16/22 5,000,000 5,000,000 100.00 5,000,000 259 3.42%
East West Bank CD 2.94%06/20/23 06/22/22 2,523,090 2,523,090 100.00 2,523,090 263 2.98%
FHLB Aaa/AA+0.00%06/29/23 09/16/22 10,000,000 9,709,489 100.07 9,716,191 272 3.97%
R Bank CD 0.73%06/30/23 06/30/21 1,009,182 1,009,182 100.00 1,009,182 273 0.73%
Alliance Bank CD 3.10%07/01/23 07/01/22 4,031,255 4,031,255 100.00 4,031,255 274 3.14%
East West Bank CD 3.05%08/01/23 08/01/22 2,016,185 2,016,185 100.00 2,016,185 305 3.10%
Alliance Bank CD 3.15%08/02/23 08/02/22 1,000,000 1,000,000 100.00 1,000,000 306 3.19%
Bank OZK CD 0.21%08/14/23 11/12/21 5,008,794 5,008,794 100.00 5,008,794 318 0.21%
Texas Capital Bank CD 3.30%08/24/23 08/24/22 2,507,016 2,507,016 100.00 2,507,016 328 3.30%
FHLB Aaa/AA+3.63%09/13/23 09/13/22 13,350,000 13,339,436 99.49 13,271,236 348 3.71%
FFCB Aaa/AA+0.22%09/22/23 09/13/22 925,000 894,020 99.45 889,114 357 3.74%
Veritex Community Bank CD 0.25%09/25/23 09/24/21 10,025,029 10,025,029 100.00 10,025,029 360 0.25%
Bank OZK CD 0.20%10/09/23 10/08/21 5,009,232 5,009,232 100.00 5,009,232 374 0.20%
Bank OZK CD 0.30%11/13/23 11/12/21 10,025,098 10,025,098 100.00 10,025,098 409 0.30%
Southside Bank CD 3.32%02/02/24 08/02/22 10,000,000 10,000,000 100.00 10,000,000 490 3.32%
TOTALS 731,800,210$ 731,043,243$ 730,957,743$ 86 2.08%
(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.660
City - Book & Market Value Comparison
Issuer/Description Yield Maturity
Date
Book Value
06/30/22 Increases Decreases Book Value
09/30/22
Market Value
06/30/22
Change in
Market Value
Market Value
09/30/22
JPMorgan Chase Cash 0.50%10/01/22 25,104,108$ –$ (12,597,554)$ 12,506,553$ 25,104,108$ (12,597,554)$ 12,506,553$
JPMorgan Chase MMA 0.40%10/01/22 434,217 253 – 434,470 434,217 253 434,470
Veritex Community Bank MMA 3.08%10/01/22 3,221,390 16,757 – 3,238,147 3,221,390 16,757 3,238,147
Wells Fargo Bank Cash 2.70%10/01/22 – 16,727,590 – 16,727,590 – 16,727,590 16,727,590
NexBank MMA 3.05%10/01/22 12,420,766 67,958 – 12,488,723 12,420,766 67,958 12,488,723
TexPool 2.41%10/01/22 55,821,493 – (24,010,058) 31,811,436 55,821,493 (24,010,058) 31,811,436
TexSTAR 2.29%10/01/22 397,256,912 – (55,756,629) 341,500,283 397,256,912 (55,756,629) 341,500,283
Prosperity Bank CD 0.20%07/01/22 4,031,414 – (4,031,414) – 4,031,414 (4,031,414) –
Prosperity Bank CD 0.20%07/25/22 5,011,684 – (5,011,684) – 5,011,684 (5,011,684) – Prosperity Bank CD 0.20%08/01/22 5,010,860 – (5,010,860) – 5,010,860 (5,010,860) –
East West Bank CD 0.45%08/01/22 2,005,168 – (2,005,168) – 2,005,168 (2,005,168) –
East West Bank CD 0.53%08/10/22 3,006,148 – (3,006,148) – 3,006,148 (3,006,148) –
East West Bank CD 0.17%08/15/22 4,004,250 – (4,004,250) – 4,004,250 (4,004,250) –
Prosperity Bank CD 0.35%08/22/22 2,513,866 – (2,513,866) – 2,513,866 (2,513,866) –
Prosperity Bank CD 0.20%09/12/22 5,010,009 – (5,010,009) – 5,010,009 (5,010,009) –
East West Bank CD 1.85%09/16/22 10,007,523 – (10,007,523) – 10,007,523 (10,007,523) –
East West Bank CD 0.26%09/20/22 2,002,751 – (2,002,751) – 2,002,751 (2,002,751) –
East West Bank CD 1.72%09/20/22 3,004,242 – (3,004,242) – 3,004,242 (3,004,242) –
East West Bank CD 1.72%09/20/22 2,503,535 – (2,503,535) – 2,503,535 (2,503,535) –
Independent Bank CD 0.30%10/18/22 2,560,619 1,915 – 2,562,534 2,560,619 1,915 2,562,534 Prosperity Bank CD 0.20%10/24/22 5,011,684 2,527 – 5,014,211 5,011,684 2,527 5,014,211
East West Bank CD 0.21%11/15/22 10,013,126 5,301 – 10,018,428 10,013,126 5,301 10,018,428
Prosperity Bank CD 0.40%11/17/22 2,012,682 2,030 – 2,014,712 2,012,682 2,030 2,014,712
Prosperity Bank CD 0.15%11/23/22 2,002,500 757 – 2,003,257 2,002,500 757 2,003,257 Prosperity Bank CD 0.15%12/21/22 5,005,612 1,893 – 5,007,505 5,005,612 1,893 5,007,505
Alliance Bank CD 2.52%12/24/22 8,000,000 50,411 – 8,050,411 8,000,000 50,411 8,050,411
East West Bank CD 1.07%12/26/22 12,034,200 32,195 – 12,066,396 12,034,200 32,195 12,066,396
R Bank CD 0.60%12/31/22 1,006,035 1,523 – 1,007,557 1,006,035 1,523 1,007,557
East West Bank CD 0.42%01/09/23 5,020,582 5,318 – 5,025,900 5,020,582 5,318 5,025,900
East West Bank CD 0.51%01/20/23 10,022,661 12,892 – 10,035,553 10,022,661 12,892 10,035,553
Alliance Bank CD 2.83%02/02/23 – 4,000,000 – 4,000,000 – 4,000,000 4,000,000
Texas Capital Bank CD 2.80%02/04/23 – 7,768,451 – 7,768,451 – 7,768,451 7,768,451
East West Bank CD 3.17%02/07/23 – 5,890,623 – 5,890,623 – 5,890,623 5,890,623
East West Bank CD 0.83%02/08/23 8,026,056 16,808 – 8,042,865 8,026,056 16,808 8,042,865
East West Bank CD 3.12%02/15/23 – 4,021,211 – 4,021,211 – 4,021,211 4,021,211 Bank OZK CD 0.18%02/23/23 4,206,336 1,919 – 4,208,255 4,206,336 1,919 4,208,255
East West Bank CD 1.20%02/27/23 20,082,326 60,325 – 20,142,652 20,082,326 60,325 20,142,652
Veritex Community Bank CD 0.18%03/09/23 4,005,388 1,818 – 4,007,206 4,005,388 1,818 4,007,206
East West Bank CD 1.16%03/14/23 15,051,601 43,692 – 15,095,293 15,051,601 43,692 15,095,293 T-Bill 3.56%03/16/23 – 491,998 – 491,998 – 491,638 491,638
T-Bill 3.56%03/16/23 – 25,633,091 – 25,633,091 – 25,614,354 25,614,354
City of Georgetown Valley View Consulting, L.L.C.862
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 GO-
Roads
2015 Revenue
Water WW
2016 GO-
Roads
Garey Park
Donation
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Roads
JPMorgan Chase Cash 12,506,553$ 12,506,553$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,470 434,470 – – – – – – – – – – –
Veritex Community Bank MMA 3,238,147 3,238,147 – – – – – – – – – – –
Wells Fargo Bank Cash 16,727,590 16,727,590 – – – – – – – – – – –
NexBank MMA 12,488,723 12,488,723 – – – – – – – – – – –
TexPool 31,811,436 31,811,436 – – – – – – – – – – –
TexSTAR 341,500,283 28,675,146 452,616 2,934,215 138,208 1,528,939 1,541,884 922,302 1,067,755 7,841,897 57,072 368,747 1,728,899
Independent Bank CD 10/18/22 2,562,534 2,562,534 – – – – – – – – – – – Prosperity Bank CD 10/24/22 5,014,211 5,014,211 – – – – – – – – – – –
East West Bank CD 11/15/22 10,018,428 – – – – – – – – – – – –
Prosperity Bank CD 11/17/22 2,014,712 2,014,712 – – – – – – – – – – –
Prosperity Bank CD 11/23/22 2,003,257 2,003,257 – – – – – – – – – – –
Prosperity Bank CD 12/21/22 5,007,505 5,007,505 – – – – – – – – – – –
Alliance Bank CD 12/24/22 8,050,411 8,050,411 – – – – – – – – – – –
East West Bank CD 12/26/22 12,066,396 – – – – – – – – – – – –
R Bank CD 12/31/22 1,007,557 1,007,557 – – – – – – – – – – –
East West Bank CD 01/09/23 5,025,900 5,025,900 – – – – – – – – – – –
East West Bank CD 01/20/23 10,035,553 10,035,553 – – – – – – – – – – –
Alliance Bank CD 02/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 02/04/23 7,768,451 – – – – – – – – – – – –
East West Bank CD 02/07/23 5,890,623 – – – – – – – – – – – –
East West Bank CD 02/08/23 8,042,865 8,042,865 – – – – – – – – – – –
East West Bank CD 02/15/23 4,021,211 – – – – – – – – – – – –
Bank OZK CD 02/23/23 4,208,255 4,208,255 – – – – – – – – – – –
East West Bank CD 02/27/23 20,142,652 20,142,652 – – – – – – – – – – –
Veritex Community Bank CD 03/09/23 4,007,206 4,007,206 – – – – – – – – – – –
East West Bank CD 03/14/23 15,095,293 15,095,293 – – – – – – – – – – –
T-Bill 03/16/23 491,998 – – – – – – – – – – – –
T-Bill 03/16/23 25,633,091 – – – – – – – – – – – –
R Bank CD 03/23/23 4,503,330 – – – – – – – – – – – –
East West Bank CD 03/27/23 25,168,439 – – – – – – – – – – – –
Prosperity Bank CD 04/24/23 5,014,211 5,014,211 – – – – – – – – – – –
Prosperity Bank CD 05/01/23 5,013,387 5,013,387 – – – – – – – – – – – Alliance Bank CD 05/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 05/04/23 1,253,082 – – – – – – – – – – – –
East West Bank CD 05/10/23 3,021,724 – – – – – – – – 3,021,724 – – –
Bank OZK CD 06/12/23 5,023,884 5,023,884 – – – – – – – – – – –
East West Bank CD 06/16/23 15,132,051 15,132,051 – – – – – – – – – – –
Texas Capital Bank CD 06/16/23 5,000,000 5,000,000 – – – – – – – – – – –
East West Bank CD 06/20/23 2,523,090 – – – – – – – – – – – –
FHLB 06/29/23 9,709,489 9,709,489 – – – – – – – – – – –
R Bank CD 06/30/23 1,009,182 1,009,182 – – – – – – – – – – –
Alliance Bank CD 07/01/23 4,031,255 4,031,255 – – – – – – – – – – –
East West Bank CD 08/01/23 2,016,185 – – – – – – – – – – – –
Alliance Bank CD 08/02/23 1,000,000 – – – – – – – – – – – –
Bank OZK CD 08/14/23 5,008,794 5,008,794 – – – – – – – – – – –
Texas Capital Bank CD 08/24/23 2,507,016 2,507,016 – – – – – – – – – – –
FHLB 09/13/23 13,339,436 – – – – – – – – – – – –
FFCB 09/22/23 894,020 – – – – – – – – – – – –
Veritex Community Bank CD 09/25/23 10,025,029 10,025,029 – – – – – – – – – – –
Bank OZK CD 10/09/23 5,009,232 5,009,232 – – – – – – – – – – –
Bank OZK CD 11/13/23 10,025,098 10,025,098 – – – – – – – – – – –
Southside Bank CD 02/02/24 10,000,000 – – – – – – – – – – – –
Totals 731,043,243$ 280,608,602$ 452,616$ 2,934,215$ 138,208$ 1,528,939$ 1,541,884$ 922,302$ 1,067,755$ 10,863,622$ 57,072$ 368,747$ 1,728,899$
Book Value
September 30, 2022
City of Georgetown Valley View Consulting, L.L.C.1064
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
Independent Bank CD 10/18/22Prosperity 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
Alliance Bank CD 12/24/22
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
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23
East West Bank CD 02/15/23
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
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23
FHLB 09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
Book Value
September 30, 2022
(Continued)
2019 CO-
Streets/
Facilities/
Equip
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/
Parks
City - 2021
GO Parks
City - 2021
GO Roads
City - 2021A
CO Electric
City - 2021A
CO Water/WW
City - 2021A
GO Roads
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928 2,760,351 601,729 299,230 4,441,871 508,869 3,789,637 704,578 3,718,059 892,487 4,776,393 746,628 9,815,423 10,970,022
– – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – – – – 10,018,428
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – 4,021,211 – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – 2,501,850 – – – – 2,001,480
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – 2,523,090 –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – 2,016,185 – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928$ 2,760,351$ 601,729$ 299,230$ 6,458,056$ 508,869$ 3,789,637$ 704,578$ 10,241,120$ 892,487$ 4,776,393$ 746,628$ 12,338,513$ 22,989,929$
City of Georgetown Valley View Consulting, L.L.C.1165
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
Independent Bank CD 10/18/22Prosperity 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
Alliance Bank CD 12/24/22
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
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23
East West Bank CD 02/15/23
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
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23
FHLB 09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
Book Value
September 30, 2022
(Continued)
City - 2022
CO Airport
City - 2022 CO
Fac/Equip/Parks
City - 2022
CO
Stormwater
City - 2022
GO Parks
City - 2022
GO Roads
City - 2022
CO Electric
City - 2022 CO
Water/WW
City -
American
Rescue Plan
City - Impact
Fees - Water
City - Impact
Fees - WW
City - Limited
Tax Note,
Series 2022
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
502,911 2,820,758 11,099 630,834 14,035,128 9,707,212 169,195,999 7,915,225 35,202,665 – 4,004,568
– – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – 12,066,396 –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – 4,000,000 – – – – – – –
– – – – 7,768,451 – – – – –
– – – – – 5,890,623 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – 491,998 – – – – – – –
– – – – – – 25,633,091 – – – –
– – – – – – – – – – –
– – – – – – – – 25,168,439 – –
– – – – – – – – – – –
– – – – – – – – – – – – – – – 4,000,000 – – – – – –
– – – – 1,253,082 – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– 1,000,000 – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – 13,339,436 – – – – – –
– – – – – 894,020 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – 10,000,000 – – – –
502,911$ 3,820,758$ 503,097$ 4,630,834$ 40,396,097$ 16,491,855$ 204,829,090$ 7,915,225$ 60,371,104$ 12,066,396$ 4,004,568$
City of Georgetown Valley View Consulting, L.L.C.1266
City - Allocation
September 30, 2022
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 GO-
Roads
2015 Revenue
Water WW
2016 GO-
Roads
Garey Park
Donation
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
2018 GO-
Roads
JPMorgan Chase Cash 12,506,553$ 12,506,553$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,470 434,470 – – – – – – – – – – –
Veritex Community Bank MMA 3,238,147 3,238,147 – – – – – – – – – – –
Wells Fargo Bank Cash 16,727,590 16,727,590 – – – – – – – – – – –
NexBank MMA 12,488,723 12,488,723 – – – – – – – – – – –
TexPool 31,811,436 31,811,436 – – – – – – – – – – –
TexSTAR 341,500,283 28,675,146 452,616 2,934,215 138,208 1,528,939 1,541,884 922,302 1,067,755 7,841,897 57,072 368,747 1,728,899
Independent Bank CD 10/18/22 2,562,534 2,562,534 – – – – – – – – – – –
Prosperity Bank CD 10/24/22 5,014,211 5,014,211 – – – – – – – – – – –
East West Bank CD 11/15/22 10,018,428 – – – – – – – – – – – –
Prosperity Bank CD 11/17/22 2,014,712 2,014,712 – – – – – – – – – – –
Prosperity Bank CD 11/23/22 2,003,257 2,003,257 – – – – – – – – – – –
Prosperity Bank CD 12/21/22 5,007,505 5,007,505 – – – – – – – – – – –
Alliance Bank CD 12/24/22 8,050,411 8,050,411 – – – – – – – – – – –
East West Bank CD 12/26/22 12,066,396 – – – – – – – – – – – –
R Bank CD 12/31/22 1,007,557 1,007,557 – – – – – – – – – – –
East West Bank CD 01/09/23 5,025,900 5,025,900 – – – – – – – – – – –
East West Bank CD 01/20/23 10,035,553 10,035,553 – – – – – – – – – – –
Alliance Bank CD 02/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 02/04/23 7,768,451 – – – – – – – – – – – –
East West Bank CD 02/07/23 5,890,623 – – – – – – – – – – – –
East West Bank CD 02/08/23 8,042,865 8,042,865 – – – – – – – – – – – East West Bank CD 02/15/23 4,021,211 – – – – – – – – – – – –
Bank OZK CD 02/23/23 4,208,255 4,208,255 – – – – – – – – – – –
East West Bank CD 02/27/23 20,142,652 20,142,652 – – – – – – – – – – –
Veritex Community Bank CD 03/09/23 4,007,206 4,007,206 – – – – – – – – – – –
East West Bank CD 03/14/23 15,095,293 15,095,293 – – – – – – – – – – –
T-Bill 03/16/23 491,638 – – – – – – – – – – – –
T-Bill 03/16/23 25,614,354 – – – – – – – – – – – –
R Bank CD 03/23/23 4,503,330 – – – – – – – – – – – –
East West Bank CD 03/27/23 25,168,439 – – – – – – – – – – – –
Prosperity Bank CD 04/24/23 5,014,211 5,014,211 – – – – – – – – – – –
Prosperity Bank CD 05/01/23 5,013,387 5,013,387 – – – – – – – – – – –
Alliance Bank CD 05/02/23 4,000,000 – – – – – – – – – – – –
Texas Capital Bank CD 05/04/23 1,253,082 – – – – – – – – – – – –
East West Bank CD 05/10/23 3,021,724 – – – – – – – – 3,021,724 – – –
Bank OZK CD 06/12/23 5,023,884 5,023,884 – – – – – – – – – – –
East West Bank CD 06/16/23 2,523,090 – – – – – – – – – – – –
Texas Capital Bank CD 06/16/23 5,000,000 5,000,000 – – – – – – – – – – –
East West Bank CD 06/20/23 15,132,051 15,132,051 – – – – – – – – – – –
FHLB 06/29/23 9,716,191 9,716,191 – – – – – – – – – – –
R Bank CD 06/30/23 1,009,182 1,009,182 – – – – – – – – – – –
Alliance Bank CD 07/01/23 4,031,255 4,031,255 – – – – – – – – – – –
East West Bank CD 08/01/23 2,016,185 – – – – – – – – – – – –
Alliance Bank CD 08/02/23 1,000,000 – – – – – – – – – – – –
Bank OZK CD 08/14/23 5,008,794 5,008,794 – – – – – – – – – – –
Texas Capital Bank CD 08/24/23 2,507,016 2,507,016 – – – – – – – – – – – FHLB 09/13/23 13,271,236 – – – – – – – – – – – –
FFCB 09/22/23 889,114 – – – – – – – – – – – –
Veritex Community Bank CD 09/25/23 10,025,029 10,025,029 – – – – – – – – – – –
Bank OZK CD 10/09/23 5,009,232 5,009,232 – – – – – – – – – – –
Bank OZK CD 11/13/23 10,025,098 10,025,098 – – – – – – – – – – –
Southside Bank CD 02/02/24 10,000,000 – – – – – – – – – – – –
Totals 730,957,743$ 280,615,304$ 452,616$ 2,934,215$ 138,208$ 1,528,939$ 1,541,884$ 922,302$ 1,067,755$ 10,863,622$ 57,072$ 368,747$ 1,728,899$
City of Georgetown Valley View Consulting, L.L.C.1367
City - Allocation
September 30, 2022
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
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
Alliance Bank CD 12/24/22
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
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23East West Bank CD 02/15/23
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
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23FHLB09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
(Continued)
2019 CO-
Streets/
Facilities/
Equip
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/
Parks
City - 2021
GO Parks
City - 2021
GO Roads
City - 2021A
CO Electric
City - 2021A
CO Water/WW
City - 2021A
GO Roads
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928 2,760,351 601,729 299,230 4,441,871 508,869 3,789,637 704,578 3,718,059 892,487 4,776,393 746,628 9,815,423 10,970,022
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – 10,018,428
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – – – – – – – – – – 4,021,211 – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – 2,501,850 – – – – 2,001,480
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – 2,523,090 –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – 2,016,185 – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
– – – – – – – – – – – – – –
6,190,928$ 2,760,351$ 601,729$ 299,230$ 6,458,056$ 508,869$ 3,789,637$ 704,578$ 10,241,120$ 892,487$ 4,776,393$ 746,628$ 12,338,513$ 22,989,929$
City of Georgetown Valley View Consulting, L.L.C.1468
City - Allocation
September 30, 2022
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
Wells Fargo Bank Cash
NexBank MMA
TexPool
TexSTAR
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
Alliance Bank CD 12/24/22
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
Alliance Bank CD 02/02/23
Texas Capital Bank CD 02/04/23
East West Bank CD 02/07/23
East West Bank CD 02/08/23East West Bank CD 02/15/23
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
T-Bill 03/16/23
T-Bill 03/16/23
R Bank CD 03/23/23
East West Bank CD 03/27/23
Prosperity Bank CD 04/24/23
Prosperity Bank CD 05/01/23
Alliance Bank CD 05/02/23
Texas Capital Bank CD 05/04/23
East West Bank CD 05/10/23
Bank OZK CD 06/12/23
East West Bank CD 06/16/23
Texas Capital Bank CD 06/16/23
East West Bank CD 06/20/23
FHLB 06/29/23
R Bank CD 06/30/23
Alliance Bank CD 07/01/23
East West Bank CD 08/01/23
Alliance Bank CD 08/02/23
Bank OZK CD 08/14/23
Texas Capital Bank CD 08/24/23FHLB09/13/23
FFCB 09/22/23
Veritex Community Bank CD 09/25/23
Bank OZK CD 10/09/23
Bank OZK CD 11/13/23
Southside Bank CD 02/02/24
Totals
(Continued)
City - 2022
CO Airport
City - 2022 CO
Fac/Equip/Parks
City - 2022
CO
Stormwater
City - 2022
GO Parks
City - 2022
GO Roads
City - 2022
CO Electric
City - 2022 CO
Water/WW
City -
American
Rescue Plan
City - Impact
Fees - Water
City - Impact
Fees - WW
City - Limited
Tax Note,
Series 2022
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
502,911 2,820,758 11,099 630,834 14,035,128 9,707,212 169,195,999 7,915,225 35,202,665 – 4,004,568
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – 12,066,396 –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – 4,000,000 – – – – – – –
– – – – 7,768,451 – – – – – –
– – – – – 5,890,623 – – – – –
– – – – – – – – – – – – – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – 491,638 – – – – – – – –
– – – – – – 25,614,354 – – – –
– – – – – – – – – – –
– – – – – – – – 25,168,439 – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – 4,000,000 – – – – – –
– – – – 1,253,082 – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– 1,000,000 – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – – – – – – 13,271,236 – – – – – –
– – – – – 889,114 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – 10,000,000 – – – –
502,911$ 3,820,758$ 502,738$ 4,630,834$ 40,327,897$ 16,486,949$ 204,810,353$ 7,915,225$ 60,371,104$ 12,066,396$ 4,004,568$
City of Georgetown Valley View Consulting, L.L.C.1569
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
Garey Park
Donation
JPMorgan Chase Cash 25,104,108$ 25,104,108$ –$ –$ –$ –$ –$ –$ –$ –$
JPMorgan Chase MMA 434,217 434,217 – – – – – – – –
Veritex Community Bank MMA 3,221,390 3,221,390 – – – – – – – –
NexBank MMA 12,420,766 12,420,766 – – – – – – – –
TexPool 55,821,493 55,821,493 – – – – – – – –
TexSTAR 397,256,912 23,593,921 457,455 22,500,006 137,556 6,678 1,528,482 1,534,616 917,954 73,824
Prosperity Bank CD 07/01/22 4,031,414 4,031,414 – – – – – – – –
Prosperity Bank CD 07/25/22 5,011,684 5,011,684 – – – – – – – –
Prosperity Bank CD 08/01/22 5,010,860 5,010,860 – – – – – – – –
East West Bank CD 08/01/22 2,005,168 – – – – – – – – –
East West Bank CD 08/10/22 3,006,148 – – – – – – – – –
East West Bank CD 08/15/22 4,004,250 – – – – – – – – –
Prosperity Bank CD 08/22/22 2,513,866 2,513,866 – – – – – – – –
Prosperity Bank CD 09/12/22 5,010,009 5,010,009 – – – – – – – –
East West Bank CD 09/16/22 10,007,523 10,007,523 – – – – – – – –
East West Bank CD 09/20/22 2,002,751 – – – – – – – – –
East West Bank CD 09/20/22 2,503,535 – – – – – – – – –
Independent Bank CD 10/18/22 2,560,619 2,560,619 – – – – – – – –
Prosperity Bank CD 10/24/22 5,011,684 5,011,684 – – – – – – – –
East West Bank CD 11/15/22 10,013,126 – – – – – – – – –
East West Bank CD 09/20/22 3,004,242 – – – – – – – – –
Prosperity Bank CD 11/17/22 2,012,682 2,012,682 – – – – – – – –
Prosperity Bank CD 11/23/22 2,002,500 2,002,500 – – – – – – – –
Prosperity Bank CD 12/21/22 5,005,612 5,005,612 – – – – – – – –
Alliance Bank CD 12/24/22 8,000,000 8,000,000 – – – – – – – –
East West Bank CD 12/26/22 12,034,200 12,034,200 – – – – – – – –
R Bank CD 12/31/22 1,006,035 1,006,035 – – – – – – – –
East West Bank CD 01/09/23 5,020,582 5,020,582 – – – – – – – –
East West Bank CD 01/20/23 10,022,661 10,022,661 – – – – – – – –
East West Bank CD 02/08/23 8,026,056 8,026,056 – – – – – – – –
Bank OZK CD 02/23/23 4,206,336 4,206,336 – – – – – – – –
East West Bank CD 02/27/23 20,082,326 20,082,326 – – – – – – – –
Veritex Community Bank CD 03/09/23 4,005,388 4,005,388 – – – – – – – –
East West Bank CD 03/14/23 15,051,601 15,051,601 – – – – – – – –
East West Bank CD 03/27/23 25,086,738 25,086,738 – – – – – – – –
Prosperity Bank CD 04/24/23 5,011,684 5,011,684 – – – – – – – –
Prosperity Bank CD 05/01/23 5,010,860 5,010,860 – – – – – – – –
Bank OZK CD 06/12/23 5,021,340 5,021,340 – – – – – – – –
East West Bank CD 06/16/23 15,018,442 15,018,442 – – – – – – – –
East West Bank CD 06/20/23 2,504,463 – – – – – – – – –
R Bank CD 06/30/23 1,007,327 1,007,327 – – – – – – – –
Bank OZK CD 08/14/23 5,006,131 5,006,131 – – – – – – – –
Veritex Community Bank CD 09/25/23 10,018,714 10,018,714 – – – – – – – –
Bank OZK CD 10/09/23 5,006,690 5,006,690 – – – – – – – –
Bank OZK CD 11/13/23 10,017,496 10,017,496 – – – – – – – –
Totals 745,141,630$ 342,434,956$ 457,455$ 22,500,006$ 137,556$ 6,678$ 1,528,482$ 1,534,616$ 917,954$ 73,824$
June 30, 2022
Book & Market Value
City of Georgetown Valley View Consulting, L.L.C.1670
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
TexPool
TexSTAR
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 09/16/22
East West Bank CD 09/20/22
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
East West Bank CD 09/20/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
Alliance Bank CD 12/24/22
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
East West Bank CD 06/16/23
East West Bank CD 06/20/23
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
June 30, 2022
Book & Market Value
(Continued)
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
2020 CO-
Facilities/
Equip/Parks
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
4,352 97,560 8,140,317 56,803 390,299 244,693 1,810,657 3,682,519 2,757,188 602,671
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – 3,006,148 – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – 2,503,535 – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
– – – – – – – – – –
4,352$ 97,560$ 11,146,466$ 56,803$ 390,299$ 244,693$ 1,810,657$ 6,186,054$ 2,757,188$ 602,671$
City of Georgetown Valley View Consulting, L.L.C.1771
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
TexPool
TexSTAR
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 09/16/22
East West Bank CD 09/20/22
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
East West Bank CD 09/20/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
Alliance Bank CD 12/24/22
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
East West Bank CD 06/16/23
East West Bank CD 06/20/23
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
June 30, 2022
Book & Market Value
(Continued)(Continued)
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
City - 2021A
GO Roads
–$ –$ –$ –$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
353,184 4,980,437 565,520 4,094,819 701,257 3,206,013 1,001,795 5,438,763 895,989 10,029,762 10,915,481
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– 2,005,168 – – – – – – – – –
– – – – – – – – – – –
– – – – – 4,004,250 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – 2,002,751
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – 10,013,126
– – – – – 3,004,242 – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – 2,504,463 –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
– – – – – – – – – – –
353,184$ 6,985,605$ 565,520$ 4,094,819$ 701,257$ 10,214,504$ 1,001,795$ 5,438,763$ 895,989$ 12,534,225$ 22,931,359$
City of Georgetown Valley View Consulting, L.L.C.1872
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Community Bank MMA
NexBank MMA
TexPool
TexSTAR
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 09/16/22
East West Bank CD 09/20/22
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
East West Bank CD 09/20/22
Prosperity Bank CD 11/17/22
Prosperity Bank CD 11/23/22
Prosperity Bank CD 12/21/22
Alliance Bank CD 12/24/22
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
East West Bank CD 06/16/23
East West Bank CD 06/20/23
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
June 30, 2022
Book & Market Value City - 2022 CO
Airport
City - 2022 CO
Fac/Equip/Parks
City - 2022 CO
Stormwater
City - 2022
GO Parks
City - 2022
GO Roads
City - 2022 CO
Electric
City - 2022 CO
Water/WW
City -
American
Rescue Plan
–$ –$ –$ –$ –$ –$ –$ –$
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
500,540 3,585,906 500,540 40,243,441 4,793,330 18,179,872 210,854,798 7,877,912
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
– – – – – – – –
500,540$ 3,585,906$ 500,540$ 40,243,441$ 4,793,330$ 18,179,872$ 210,854,798$ 7,877,912$
City of Georgetown Valley View Consulting, L.L.C.1973
Georgetown Economic Development Corporation (GEDCO)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
September 30, 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.
74
Annual Comparison of Portfolio Performance
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
MMA 0.08%2,131,487$ 2,131,487$ 3.08%2,147,122$ 2,147,122$
Pools 0.01%5,515,983 5,515,983 2.34%6,586,175 6,586,175
Certificates of Deposit 0.24%2,002,381 2,002,381 0.00%– –
Totals 9,649,850$ 9,649,850$ 8,733,297$ 8,733,297$
Fourth Quarter-End Yield 0.08%2.52%
Average Quarter-End Yields (1):
2021 Fiscal Year 2022 Fiscal Year
GEDCO 0.16%0.91%
Rolling Three Month Treasury 0.06%1.06%
Rolling Six Month Treasury 0.08%1.01%
TexPool 0.04%0.90%
(1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
September 30, 2021 September 30, 2022
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.175
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,136,008$ 2,136,008$ 2,147,122$ 2,147,122$ 3.08%
Pools 4,972,885 4,972,885 6,586,175 6,586,175 2.34%
Certificates of Deposit 2,005,978 2,005,978 – – 0.00%
9,114,870$ 9,114,870$ 8,733,297$ 8,733,297$ 2.52%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 2.52%Total Portfolio 0.91%
Rolling Three Month Treasury 2.76%Rolling Three Month Treasury 1.06%
Rolling Six Month Treasury 2.46%Rolling Six Month Treasury 1.01%
TexPool 2.41%TexPool 0.90%
Interest income provided in separate report.
June 30, 2022
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
September 30, 2022
Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.276
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 3.08%10/01/22 09/30/22 2,147,122$ 2,147,122$ 1.00 2,147,122$ 1 3.08%
TexasDAILY AAAm 2.43%10/01/22 09/30/22 2,140,620 2,140,620 1.00 2,140,620 1 2.43%
TexSTAR AAAm 2.29%10/01/22 09/30/22 4,445,555 4,445,555 1.00 4,445,555 1 2.29%
8,733,297$ 8,733,297$ 8,733,297$ 1 2.52%
(1)(2)
September 30, 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.478
FYE Results by Investment Category:
Asset Type Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
Pools/MMAs 0.02%34,752,525$ 34,752,525$ 2.44%33,113,125$ 33,113,125$
CDs/Securities 0.15%3,012,460 3,012,460 3.22%5,018,515 5,018,515
Totals 37,764,985$ 37,764,985$ 38,131,640$ 38,131,640$
Fourth Quarter-End Yield 0.03%2.54%
Average Quarter-End Yields (1):
2021 Fiscal Year 2022 Fiscal Year
GTEC 0.06%0.92%
Rolling Three Month Treasury 0.06%1.06%
Rolling Six Month Treasury 0.08%1.01%
TexPool 0.04%0.90%
(1) Average Quarterly Yield calculated using quarter-end report average yield and adjusted book value.
Annual Comparison of Portfolio Performance
September 30, 2021 September 30, 2022
Georgetown Transportation Enhancement Corporation (GTEC) Valley View Consulting, L.L.C.
182
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Pools/MMAs 36,655,075$ 36,655,075$ 33,113,125$ 33,113,125$ 2.44%
CDs/Securities 3,015,841 3,015,841 5,018,515 5,018,515 3.22%Totals 39,670,916$ 39,670,916$ 38,131,640$ 38,131,640$ 2.54%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 2.54%Total Portfolio 0.92%
Rolling Three Month Treasury 2.76%Rolling Three Month Treasury 1.06%
Rolling Six Month Treasury 2.46%Rolling Six Month Treasury 1.01%
TexPool 2.41%TexPool 0.90%
Interest data provided in separate report.
June 30, 2022
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total
return analysis or account for advisory fees.
September 30, 2022
Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.283
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 2.41%10/01/22 09/30/22 21,549,395$ 21,549,395$ 1.00 21,549,395$ 1 2.41%
TexSTAR AAAm 2.29%10/01/22 09/30/22 8,854,459 8,854,459 1.00 8,854,459 1 2.29%
Veritex Bank MMA 3.08%10/01/22 09/30/22 2,709,271 2,709,271 1.00 2,709,271 1 3.08%
East West Bank CD 3.12%02/07/23 08/11/22 2,008,738 2,008,738 100.00 2,008,738 130 3.17%
East West Bank CD 3.21%05/25/23 08/25/22 3,009,777 3,009,777 100.00 3,009,777 237 3.26%
TOTALS 38,131,640$ 38,131,640$ 38,131,640$ 26 2.54%
(1)(2)
September 30, 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.485
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
50,000 50,000
Emergency Management US Dept. of the Treasury American Rescue Plan Act
SLFRF Funding
104,783 275,583
Fire US Department of Homeland Security Federal Emergency
Management Agency
EMW-2017-FH-00496 SAFER 487,552 104,864
Planning US Department of Housing & Urban Development Williamson County B-17-UC-48-0502 CDBG Sidewalks and Ramps
along 17th St
26,302 26,302
Planning US Department of Housing & Urban Development Williamson County CDBG 21st St Infrastructure 39,389 37,000
Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair (FY19) 2,139 2,139
Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair (FY20) 75,000 75,000
Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair (FY21) 36,680 36,680
Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement - -
Public Works Dept. of Transportation /Federal Highway
Administration
Texas Department of
Transportation
CSJ 0914-05-200, 201, 202 Highway Planning &
Construction (Lakeway & Williams Drive)
229,984 229,984
Electric Dept. of Transportation /Federal Highway
Administration
Texas Department of
Transportation
CSJ 0015-08-150 Standard Utility Agreement
(I35 Mobility)
336,929 336,929
Emergency Management FEMA* TDEM DR-4586PATXP00001 Winter Storm Uri Relief PRJ-
240164 Water
20,124 20,124
Emergency Management FEMA* TDEM DR-4586PATXP00001 Winter Storm Uri Relief PRJ-
187834 Citywide
387,252 387,252
Emergency Management FEMA* TDEM DR-4586PATXP00001 Winter Storm Uri Relief PRJ-
Donated Resources
5,246 5,246
*Expenses were incurred in FY2021, but reported here since FEMA has now approved for reimbursement.
Division Grantor COG Name/Purpose Status
CITY OF GEORGETOWN
Grant/Federal Funding Report
as of September 30, 2022
Active
Applications Pending Award
88
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 06/30/22 Status Updates ‐ 09/30/22
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.
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. No change. This figure is calculated once
annually.
Not yet calculated for FY2022.
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.
No change. The new bi‐annual report is still under
review.
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.
Not yet calculated for FY2022.
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 update Grant requests fund between 80%‐90% when approved
by TxDOT and/or the FAA. The City’s matching 10%‐20%
will be planned and budgeted through the 5yr CIP
forecast and annual budget approval process. Staff
recommend removing this item from the list next
quarter.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
09/30/2022
93
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 06/30/22 Status Updates ‐ 09/30/22
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
09/30/2022
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 South San Gabriel
River trail are under design. The final trail and park ADA
improvements are scheduled to be completed in FY23.
No Change
94
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 06/30/22 Status Updates ‐ 09/30/22
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
09/30/2022
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 and FY 20 Downtown sidewalk project is
wrapping up and substantially completed. FY21 and FY
22 Downtown Priority 1 sidewalk projects are in design.
Coordination between stakeholders is ongoing and we
plan to be able to advertise and bid the project in the fall
of 2022.
Rock Sidewalk and FY 20 Downtown sidewalk project is
wrapping up and substantially completed. FY21 and FY
22 Downtown Priority 1 sidewalk projects are in design.
Coordination between stakeholders is ongoing and we
plan to be able to advertise and bid the project in
Jan/Feb 2023.
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.
$627,000 was included in the FY2023 budget to finish
this program.
FY2022 Radios were orderd. So far, we have received 22
of the 101 radios ordered. FY2023 radios ‐ Waiting on
updated quotes. We estimate City Council agenda
approval in December 2022 or January 2023.
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.
2022 HIPR (Cutler), 2022 High Performance Pavement
Seal #1 (PMM) and 2022 High Performance Pavement
Seal #2 (HA5). These projects have been awarded by City
Council. Contractors to start on these project in
September. Pre‐construction meetings are being
scheduled and neighborhood schedules will be going out
to notify residents. The election is schedule for
November 2022.
2022 High Performance Pavement Seal #1 and #2
projects are completed. 2022 HIPR is in construction and
has completed the work in downtown and is now
working in the Reatta Trails area off of Williams Drive.
95