HomeMy WebLinkAboutRES 082625-5.I - FY2026 GTEC BudgetRESOLUTION i ;.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GEORGETOWN,
TEXAS, ACCEPTING THE 2026 PROPOSED PROJECT LIST OF THE
GEORGETOWN TRANSPORTATION ENHANCHMENT CORPORATION
(GTEC); APPROVING THE 2026 GTEC tCONFLICTING
RESOLUTIONS; INCLUDING A SEVE' AND
ESTABLISHING
WHEREAS,required by - Law, the Amended Articles of • r• • and the
Bylaws of • • •wn Transportation Enhancement Corporationpreviously established
pursuant to Vernon's Rev. Civ. Stat. Ann., Article 5190.6 Section 4(B), to approve GTEC's annual
operating budget; and
GTEC. WHEREAS, projects identified in the 2026 Project List are incorporated into the annual budget of
NOW, ' i' RESOLVED BY THE CITY COUNCILOF OF
GEORGETOWN,
SECTION 1. The meeting at which this resolution was approved was conducted in compliance with
the Texas Open Meetings Act, Texas Government Code, Chapter 551.
SECTION 2. The facts and recitations contained in the preamble of this resolution are hereby found
and declared to be true and correct and are incorporated by reference herein and expressly made a part
hereof, as if copied verbatim.
SECTION 3. The City Council of the City of Georgetown hereby accepts the proposed project list
included in the 2026 Georgetown Transportation Enhancement Corporation (GTEC) budget as approved
by the GTEC Board on July 21, 2025.
SECTION 4. Budgetary expenses, such as administrative and non -project specific expenses may
be expended on or after the date of this resolution.
SECTION 5. All resolutions that conflict with the provisions of this resolution are hereby repealed,
• all other resolutionsof •t in conflict with the provisions of - • •
force and effect.
SECTION 6. If any provision of this resolution, or application thereof, to any person or
circumstance, shall be held invalid, such invalidity shall not affect the other provisions, or application
thereof, of this resolution, which can be given effect without the invalid provision or application, and to this
Resolution No. -5.7r Page l of 2
Description: 2026 GTEC Budget Resolution
Date Approved: August 26, 2025
SECTION 7. The Mayor is hereby authorized to sign this resolution and the City Secretary to attest.
This resolution shall become effective and be in full force and effect immediately in accordance with the
provisions of the City Charter of the City of Georgetown.
ATTEST: THE C OF GEORGETOWN:
I '�
v s---
obyn —L)cn nore B y: h Schroeder s/
S
City Secretary Ma v r
-k yc M ,-,(3n
City Atey
Resolution No. 6? 2L;25 — -5- T Page 2 of 2
Description: 2026 GTEC Budget Resolution
Date Approved: August 26, 2025
SCAL YES
Total revenues are projected to be $60.2 million. Sales tax collections are projected to end
the year at $1.1 million, 5% more than budget.
FY2024
FV2025.
FY2026
a
Actuals
Amended Bud et
Pro'ected�
8ase8ad:ast Cas
pro osd8tad 4t �'
� iatrtlra FueadBatastc
49,460,579
52,163,572
52,163,572
40>404,StiS
40,404,iiS.
�40. alesTasies
13463799
-�14terest
larcttaraa;
2,305,376
1,684,000
1 684,000
CiOiP
Operating Revenue Total
15,769,175
15,152,832
15,116,214
16,250,542
16,250,542
C.gats� 77-.
642,931zptaB
1,894
8SS,653
855,653
642,931 _
642,931
AvaataYle i3poratcrtg Fund 8altee
64,77,60
6,460 7Si
67134,12
56,012,116
5,012,116
44001:T,rant Reuenue......
-..
2,880,238.... -
2,880,238
45001:fV@isc Revenue
12,587
,
45003: nPlisc Reiearbursertients
110,000
110,000
46001:8ond Proceeds
5,400,000
44,395,000
44,395,000
7,500,000 _
7,500,000
+l6GedP2.0ond premium
437,892
Non -Operating Revenue Total
5,950,480
44,395,000
44,395,000
20,490,238 -.
10,490,238
70,emflon,
"300000
5,200,000
5,200,000
4,600,000 -
4,600,000
xpense
13,906,484
61,572,980
61,572,980
12,180,238
12,180,238
Transfers
3,156,884:.
3,306,547
3,306,547
6,541,293.
6,541,293
Oebt Servrice
861,400
1,285,045
1,045,160
91 „095 a:
14,295.:...
Non-OperatingEzpense
16,444;767
71,364,572
71,124,687
24,235,626 a-
24,235,626
fired"eat Fund Balance
52,363„ 7239,441174
40,Al"
4$,2 ,728
42,266,728
Al. Adpu ,-ent..
..
OontingencV
3,243,057
3,367,208
3,367,205
3,641,635
3;641,635
OebtServiceReserve m�
3,724,080.
3,956,415
3,956,415
7„276<53 -
7,27Ti,S35.....
Reserves Total
6,967;137
7,323,623
7,323,623
10,918,170 -
10,918,1J0
Available Fund Balance
45,198435
32'167SS6
3;1 11 1, S!2
31,348,SSS
31,348558`