HomeMy WebLinkAboutORD 2026-53 - Adopting FY 2026/27 Annual BudgetORDINANCE NO. D 3
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, ADOPTING THE ANNUAL BUDGET FOR THE
ENSUING FISCAL YEAR BEGINNING OCTOBER 1, 2026, AND ENDING
SEPTEMBER 30, 2027, IN ACCORDANCE WITH CHAPTER 102 OF THE
LOCAL GOVERNMENT CODE; APPROPRIATING THE VARIOUS
AMOUNTS THEREOF; REPEALING CONFLICTING ORDINANCES
AND RESOLUTIONS; INCLUDING A SEVERABILITY CLAUSE; AND
ESTABLISHING AN EFFECTIVE DATE.
WHEREAS, the City Council has reviewed all priorities, goals, and strategies to be
included in the Annual Budget for the upcoming fiscal year; and
WHEREAS, the City Council has received the Proposed Budget and a copy of such
Proposed Budget, and all supporting schedules have been filed with the City Secretary of the City
of Georgetown; and
WHEREAS, in accordance with Section 102.006 of the Texas Local Government Code, a
public hearing was held on August 25, 2026, concerning such Proposed Budget, providing an
opportunity for all interested taxpayers and citizens to be heard for or against any item or amount
therein; and
WHEREAS, the City Council of the City of Georgetown has determined that the Proposed
Budget should be approved and adopted as the City's Annual Budget for the ensuing fiscal year;
NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
GEORGETOWN, TEXAS, THAT:
SECTION 1. The facts and recitations contained in the preamble of this ordinance 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.
Ordinance No. 20-2,% -5-5 Page 1 of 3
Description: Adopting 2027 Annual Budget
Date Approved:5QOW.AnAbox -$1;(62,(,
SECTION 2. The Annual Budget of the revenues of the City of Georgetown and expenses
of conducting the affairs thereof, providing a financial plan for the ensuing fiscal year beginning
October 1, 2026, and ending September 30, 2027, as submitted to the City Council by the City
Manager of said City, and the same is in all things adopted and approved as Exhibit A — All -Funds
Summary, incorporated by reference herein.
SECTION 3. The amounts indicated for the following funds are hereby appropriated for
payments of expenditures and payments of the individual funds:
General Fund
126,013,658
Special Revenue Funds
85,942,189
Capital Projects
54,902,680
General Debt Service
53,252,907
Electric Services
230,161,302
Water Services
957,827,708
Other Enterprise Funds
40,469,764
Internal Service Funds
98,106,672
Total Expense 1,646,676,880
SECTION 4. Adoption of this ordinance authorizes the City Manager to transfer monies
set aside for salary adjustments in the various operating funds to departments as needed for these
purposes.
SECTION 5. The City Council hereby approves the appropriation of public funds for the
purchase of new and replacement fleet, equipment, and technology related hardware and software
as described in Exhibit B, and authorizes the City Manager to execute contracts and documents for
those purchases subject to the provisions of Chapter 4.08 of the Code of Ordinances.
SECTION 6. All ordinances and resolutions, or parts of ordinances and resolutions, in
conflict with this Ordinance are hereby repealed, and are no longer of any force and effect.
SECTION 7. If any provision of this Ordinance 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 Ordinance which can be given effect without the invalid provision or
application, and to this end the provisions of this Ordinance are hereby declared to be severable.
SECTION 8. The Mayor is hereby authorized to sign this Ordinance and the City Secretary
to attest. This Ordinance shall become effective in accordance with the City Charter of the City
of Georgetown, Texas.
Ordinance No. Z0;_(0 — 53 Page 2 of 3
Description: Adopting 2027 Annual Budget
Date Approved: M%
PASSED AND APPROVED on First Reading on the 25t' day of August, 2026.
PASSED AND APPROVED on Second Reading on the P day of September, 2026.
ATTEST:
Robyn Den ore
City Secretary
APPROVED AS TO FORM:
Skye Masson
City Attorney
Ordinance No. O (o — rJ' 3 Page 3 of 3
Description: Adopting 2027 Annual Budget
Date Approved: I;z0�
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Exhibit B
2027 FISCAL YEAR FLEET AND EQUIPMENT REPLACMENT FUNDS
FY27 FLEET REPLACEMENT LIST
DepartmentDescription
Systems Engineering
Systems Engineering
Utility Locates
520 - Fleer Services
520 - Fleer Services
520 - Fleer Services
CC0320 - Fleet
CCO320 - Fleet
CC0320 - Fleet
2015 Ford F-150
2016 Ford F-150
2021 Toyota RAV4
65,000
65,000
40,000
Utility Locates
520 - Fleer Services
CC0320 - Fleet
2021 Toyota RAV4
40,000
Utility Billing
520 - Fleer Services
CC0320 - Fleet
2019 Ford F-150
65,000
Utility Billing
520 - Fleer Services
CC0320 - Fleet
2020 Ford Transit Connect
65,000
Streets
520 - Fleer Services
CC0320 - Fleet
2012 Ford F-350
115,000
Streets
520 - Fleer Services
CC0320 - Fleet
2009 Ford DumpTtruck
145,000
Streets
520 - Fleer Services
CC0320 - Fleet
2013 Sakai Roller
150,000
Streets
520 - Fleer Services
CC0320 - Fleet
2013 Ford F-350
110,000
Animal Services
520 - Fleer Services
CC0320 - Fleet
2019 Ford F-250
95,000
Fleet
520 - Fleer Services
CC0320 - Fleet
2010 Tire Machine
30,000
Parks
520 - Fleer Services
CC0320 - Fleet
2018 Ford F-150
65,000
Parks
Electric T&D
520 - Fleer Services
612 - Electric Projects
CC0320 - Fleet
CC0001- Non Departmental
2016 Ford F-350 Dump Truck
2013 Dump Trailer
110,000
20,000
Electric T&D
Electric T&D
612 - Electric Projects
612 - Electric Projects
CC0001- Non Departmental
CC0001- Non Departmental
2014 Pressure Digger
2016 Ford F-150
520,000
61,000
Electric T&D
612 - Electric Projects
CC0001- Non Departmental
2016 Hydro Excavator
125,000
Electric T&D
Electric Engineering
Electric Engineering
612 - Electric Projects
612 - Electric Projects
612 - Electric Projects
CC0001- Non Departmental
CC0001- Non Departmental
CC0001- Non Departmental
2011 Utility Trailer
2014 Ford F-150
2016 Ford F-150
25,000
61,000
61,000
Electric Engineering
612 - Electric Projects
CC0001- Non Departmental
2016 Ford F-150
61,000
Electric Engineering
612 - Electric Projects
CC0001- Non Departmental
2016 Ford F-150
61,000
Water Regulatory
662 - Water Projects
CC0539 - Regulatory Compliance
2015 Ford Escape
40,000
Water Plants
662 - Water Projects
CC0529 - Water Plant Management
2016 Ford F-150
65,000
Water Distribution
662 - Water Projects
CC0528 - Water Distribution
2019 Ford F-350 W/Crane
200,000
W/Water Operations
662 - Water Projects
CC0530 - Wastewater Operations
2019 Ford F-150
80,000
W/Water Operations
662 - Water Projects
CCO530 - Wastewater Operations
2020 Ford F-450
125,000
W/Water Operations
662 - Water Projects
CC0530 - Wastewater Operations
2016 Ford F-150 Upgrade
190,000
W/Water Operations
662 - Water Projects
CC0530 - Wastewater Operations
2020 Ford F-250
80,000
Police
520 - Fleer Services
CC0320 - Fleet
2020 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2020 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2020 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2020 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2020 Patrol Vehicle
125,000
Police
520 - Fleer Services
CCO320 - Fleet
2020 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2021 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2021 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2021 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2021 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2021 Patrol Vehicle
125,000
Police
520 - Fleer Services
CC0320 - Fleet
2021 Patrol Vehicle
125,000
Police
520- Fleer Services
CC0320-Fleet
2017 Unmarked Vehicle
93,500
Police
520 - Fleer Services
CC0320 - Fleet
2017 Unmarked Vehicle
93,500
Fire
520 - Fleer Services
CC0320 - Fleet
2016 Brush Truck
570,000
Fire
520 - Fleer Services
CC0320 - Fleet
2016 Tender
650,000
Fire
520 - Fleer Services
CC0320 - Fleet
2019 Engine/Pumper
1,600,00,1
Fire
520 - Fleer Services
CC0320- Fleet
2022 DODGE/FRAZERTRV MEDI
500,000
2027 FISCAL YEAR FLEET AND EQUIPMENT NEW ADDITIONS
FY27 FLEET NEW ADDITIONS
DepartmentDescription
Fire Station 9
120 - General Capital Projects
CC0422- Fire Operations
2030 Engine/Pumper *
1,600,000
Fire
120 - General Capital Projects
CC0422- Fire Operations
2027 Quint Apparatus Refurbishing
820,000
Police
120- General Capital Projects
CC0742- Police Operations
2027 Patrol Vehicle
125,000
Police
120 - General Capital Projects
CC0742 - Police Operations
2027 Patrol Vehicle
125,000
Police
120 - General Capital Projects
CC0742- Police Operations
2027 Unmarked Vehicle
95,000
Public Works
520 - Fleet Services
CC0320 - Fleet
2027 Ford F-150
67,000
Systems Engineering
Water Operational Tech.
520 - Fleet Services
662 - Water Projects
CC0320 - Fleet
CC0001- Non Departmental
2027 Ford F-150
2027 Ford F-150
67,000
66,000
Electric T&D
612 - Electric Projects
CC0001- Non Departmental
2027 Altec DX-60 Boom Truck
521,500
Electric T&D
612 - Electric Projects
CC0001- Non Departmental
2027 Altec Backyard Machine
326,556
Electric T&D
612 - Electric Projects
CC0001- Non Departmental
2027 Ford F-150
71,000
Electric Engineering
612 - Electric Projects
CC0001- Non Departmental
2027 Ford F-350
120,000
Stormwater
642 - Stormwater Projects
CCO845 - Stormwater Operations
2027 Vac Truck
580,000
Stormwater
642 - Stormwater Projects
CCO845 - Stormwater Operations
2027 Ford F-250 Utility
90,000
Water Operational Tech.
662 - Water Projects
CC0001- Non Departmental
2027 Ford F-150
67,000
WaterAdmin.
WaterAdmin.
662- Water Projects
662 - Water Projects
CC0001- Non Departmental
CC0001- Non Departmental
2027 Ford F-550 W/Crane
2027 Ford F-550 W/Crane
232,300
232,300
*technically new but on the replacement schedule
2027 FISCAL YEAR TECHNOLOGY HARDWARE AND SOFTWARE
Anticipated technology purchases and known cost estimates
Audio -Visual Equipment
Item
Details
Estimated Cost
AV Room Refresh
Planned refresh or emergency replacement needs
$25,000
PSOTC Training Rooms
Training room AV equipment
$175,000
Audio -Visual Total
$200,000
Computer Hardware
Item
Details
Estimated Cost
CAD Computer Replacement
Separate computer hardware line item
$40,000
Computer Replacement Cycle
Annual scheduled replacements
$477,000
FY27 Data Center Hardware Lease
FY27 lease cost
$825,000
New Employee Equipment
Equipment for new positions
$100,000
Various CIP Projects
JEstimated amount
$100,000
Computer Hardware Total
$1,542,000
Network and Infrastructure
Item
Details
Estimated Cost
Airport UPS Replacement
1 UPS
$25,000
Camera Server Replacement
3 servers
$150,000
DR Data Center Batteries
8 batteries
$15,000
Firewall Replacement
High -availability pair
$450,000
Network Switch and Access Point Replacement
20 switches and 50 access points
$250,000
PDU Replacements
15 units
$20,000
Primary Data Center Batteries
4 batteries
$12,000
Network and Infrastructure Total
$922,000
Software, Services, and Maintenance
Item
Details
Estimated Cost
Adobe
Annual licensing
$65,000
Akamai Guardicore
Network segmentation
$163,000
Bluebeam
Annual licensing
$25,000
Cisco
Network maintenance and licensing: SmartNet, Webex
Contact Center, Meraki, and VolP
$244,000
CTI AV Service -Level Agreement
Annual support agreement
$30,000
Gartner
$100,000
11RA
$60,000
Microsoft
Licensing, software, and data center/Azure services
$1,850,000
Palo Alto
Maintenance and Cortex
$250,000
Palo Alto
Firewall maintenance
$200,000
PureSAN
Network storage
$120,000
Radiflow
OT security platform
$200,000
Stewart Organization
Printers and copiers
$145,000
Swagit / Granicus
Annual service
$135,000
TwoConnect
Integration services
$180,000
VMware
Virtualization software
$400,000
VNC
Annual licensing
$8,000
Software, Services, and Maintenance Total
$4,175,000
Summary
Category
Estimated Cost
Audio -Visual Equipment
$200,000
Computer Hardware
$1,542,000
Network and Infrastructure
$922,000
Software, Services, and Maintenance
$4,175,000
Known Estimated Total
$6,839,000
Exhibit C
'Position Control FY2025 Budget FY2026 Budget FY2027 Base Budget FY2027Changes FY2027 Adopted Budgaig
100 General Fund
CCO104 Development Administration __ _
Chief Development Officer 1.00 100 1.00 1.00
Development Support Manager - 1.00 1.00 1.00 1.00
Management Analyst _ _ 100 1.00 1 00
CCO104 Development Administration Total _ 2.00 3.00 3.00 3.00 1
_ ` I
CCO105 Development Engineering
Assistant Director of Utility Services _ _ _ _ 1.00 100 1.00 1.00 1
Engineering Technician _ 3.00 3.00 300 3.00
Utilities Engineer - Professional Engineer _ 200 3.00 3.00 3.00
Water Utility Engineer 1.00 100 1.00 1.00 1
CCO105 Development Engineering Total 7.00 8.00 8.00 8.00
CCO107 Planning
Assistant Planning Director
Associate Planner
Development Account Specialist
Landscape Planner
Long Range & Neighborhood Planning Mana er
Management Analyst
Planner
Planning Director
Planning Inspector Liaison
Planning Specialist
Preservation & Redevelopment Program Manager
Principal Planner
Senior Planner
CCO107 Planning Total
1.00 2.00 2.00
2.00 2.00 2.00
1.00 1.00 100
1.00 100 100
1.00 1.00 1.00
_ 1.00
3.00 3.00 3.00
1.00 1.00 1.00
1.00 ' 100 1 00
3.00 300 3.00
_ 1.00 1.00 1.00
1.00
4.00 3.00 3.00
21.00 19.00 19.00
2.00
2.00
1.00
1.00
1.00
3.00
1
1.00
1.00
3.00
1.00
I
3.00
I
19.00
CCO202 Parks Administration
Administrative Assistant
Admin,stralive Supervisor
Assistant Parks & Recreation Director
Business Analyst
Contract Coordinator
Marketing and Community Engagement Program Manager
Office Specialist
Parks & Recreation Director
Parks & Recreation Manager
Special Events & Marketing Coordinator
CCO202 Parks Administration Total
_ 100 100 1.00
1.00 1.00 1.00
1.00 1.00 1.00
1.00 1.00 1.00
1 00 1.00 1.00
_ 1.00 1.00 1.00
_ 1 on 1.00 1.00
1.00 1.00 1.00
2.00 2.00 2.00
1.00 1.00 1.00
11.00 11.00 11110
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
2.00
1 00
11.00
CCO210 Library
Assistant Library Services Director
1.00
1.00
1.00
1.00
Circulation Supervisor
_
1.00
1.00
1.00
1.00
Librarian
_
4.00
4.00
4.00
4.00
Library Assistant
_
10.00
10.00
10.00
10.00
Library Security Specialist
1.00
1.00
1.00
1.00
Library Security Supervisor
1.00
1.00
1.00
_
Library Services Director
1.00
1.00
1.00
1.00
Library Support Coordinator
1.00
1.00
1.00
1.00
Marketing Coordinator
1.00
1.00
1100
1.00
_
Senior Librarian
4.00
4.00
4.00
4.00
Senior Library Assistant
_
4.00
400
400
4.00
CCO210 Library Total
28.00
29.00
29.00
29.00
CCO211 Parks
Parks Maintenance Foreman
2.00
2.00
2.00
2.00
Parks Maintenance Worker
10.00
1000
10.00
10.00
Parks Superintendent
_ 1.00
100
100
1.00
Project Manager
1.00
1.00
1.00
1.00
Senior Parks Maintenance Worker
_
6.00
600
6.00
6.00
Urban Forester
1.00
1.00
1.00
1.00
_
CCO211 Parks Total
21.00
21.00
21.00
21.00
CCW12 Recreation
Aquatics Maintenance Worker
1.00
1.00
1.00
1
1.00
Aquatics Specialist
2.00
2.00
2.00
2.00
Aquatics Supervisor
_
1.00
1.00
1.00
1.00
Recreation Assistant
4.00
4.00
4.00
4.00
Recreation Program Coordinator
1 00
1.00
1.00
1.00
Recreation Specialist
400
_
4.00
_
4.00
4.00
Recreation Superintendent
1.00
1.00
1.00
1.00
Recreation Supervisor
3.00
3.00
3.00
1
3.00
Senior Recreation Assistant
2.00
2.00
2.00
2.00
Senior Recreation Specialist
1.00
1.00
1.00
1.00
Youth Adventure Program Coordinator
1.00
1.00
1.00
1.00
CCO212 Recreation Total
21.00
21.00
21.00
21.00
CCO213 Tennis Center
Tennis Center Assistant
1.50
1.50
1.50
1.50
Tennis Center Specialist
1.00
1.00
1.00
1.00
Tennis Professional
1.00
1.00
1.00
1,00
CCO213 Tennis Center Total
3.50
3.50
3.50
1
1 3.50
CCO215 Garay Park
Event Coordinator
1.00
1.00
1.00
1.00
Parks Maintenance Foreman
1.00
1.00
1.00
1.00
Parks Maintenance Worker
1.00
2.00
2.0-0
_ _ _
2.00
Recreation Assistant
2.50
2.50
2.50
_
2.50
Recreation Proqram Coordinator
1.00
100
1.00
1.00
Recreation Specialist
1 00
1.00
1.00
1.00
Senior Parks Maintenance Worker
1 00
1.00
100
1.00
CCO215 Garay Park Total
8.50
9.50
9.50
_
9.50
CCO218 Downtown, Arts, & Events
Arts & Culture Coordinator
1 00
1.00
1.00
1
1.00
Arts Center Staff
1.00
0.50
0.50
0.50
Downtown and Tourism Director
1.00
1.00
1.00
1-00
Senior Special Events & Marketing Coordinator
1.00
1.00
1.00
1
1.00
Special Events & Marketing Coordinator
1.00
1.00
1.00
1.00
CCO218 Downtown, Arts, & Events Total
5.00
4.50
4.50
_ 4.50
CC0311 311 - Call Center
Business Systems Analyst
1.00
1.00
1.00
1.00
Customer Contact Center Manager
1.00
1.00
1.00
1.00
Customer Contact Center Supervisor
1.00
1.00
1.00
_
1.00
Customer Service Representative
7.00
7.00
7.00
7.00
CC0311 311 - Call Center Total
_ 10.00
10.00
10.00
10.00
CC0316 Municipal Court
Deputy Court Clerk
1.00
2.00
2.00
_
2.00
Municipal Court Administrator
1.00
1.00
1.00
_
1.00
Municipal Court Judge
0.50
0.50
0.50
0.50
Municipal Court Supervisor
-
1 00
1.00
Senior Deputy Court Clerk
2.00
2.00
2.00
CC0316 Municipal Court Total
_ 4.50
5.50
_2.00
5.50
1.00
6.50
CC6402 Fire Support Services/Administration
}
Administrative Assistant
1.00
1.00
1.00
I 1.00
Assistant Fire Chief
3.00
3.00
3.00
_ _ _
3.00
Battalion Chief
1.00
1.00
1.00
1.00
Business Analyst
1.00
1.00
1.00_
Deputy Fire Marshal
4.00
4.00
_1.00
4.00
4.00
Executive Assistant (Sup)
1.00
1.00
1.00
_
1.00
Fire and Life Safety Specialist
6.00
6.00
6.00
_
6.00
Fire Captain
300
3.00
3.00
_
3.00
Fire Chief
1 00
1-00
1-00
1-
1.00
Fire Marshal
1.00
1.00
1.00
1.00
Fire Protection Engineer
1 00
1.00
_
1.00
1.00
Logistics Coordinator
2.00
2.00
2.00
_ _
_ _ _
2.00
Paramedic II
2.00
1.00
1.00
1.0_0
Permit Technician
_
-
-
-
1.00
1.00
EMS Captain
100
1.00
1.00
CC0402 Fire Support Services/Administration Total
_
27.00
27.00
27.00
1.00
28.00
CC0422 Fire Emergency Services
Battalion Chief
6.00
6.00
6.00
6.00
Fife Captain
24.00
24.00
24.00
24.00
Fire Driver
24.00
24.00
24-00
_ _ _
_ _
24.0_0
Firelighter
60.00
70.00
70.001
6.00
_ _ _ _
76.00
Paramedic 11
4.00
4.00
4.00
_
4.00
EMS Captain
3.00
3.00
_
3.00
000422 Fire Emergency Services Total
118.00
i 131.00
I 131.00
_6.00
137.00
CC0448 EMS
Firefighter
7.00
7.00
7.00
7.00
Paramedic
1500
15.00
15.00
15.00
_ Paramedic II
2.00
2.00
2.00
2.00
_CCW48 EMS Total
_ 24.00
24.00
24.00
24.00
6C0536Inspection Services
Assistant Chief SuHding Official
1.00
1.00
1.00
1.00
Building Inspector
7.00
7.00
7.00
7.00
Building Plans Examiner
5.00
5.00
5.00
5.00
Chief Building Inspector
1.00
1.00
1.00
1.00
Chief Building Official
1.00
1.00
1.00
1.00
Chief Plans Examiner
1-00
1-00
1.00
1.00
Combination Building Inspector
2.00
2.00
2.00
2.00
Permit Technician
4.00
4.00
4.00
4.00
CCO536 Inspection Services Total
22.00
22.00
22.00
22.00
CC0602 Administrative Services
Assistant City Manager
3.00
3.00
3.00
3.00
to the City Manager
1.00
-
_Assistant
City Manager
_
1.00
1.00
1.00
1.00
Executive Assistant
1.00
1.00
1.00
1.00
Executive Assistant
2.00
2.00
2.00
2.00
1.00
1.00
1.00
1.00
Intergovernmental Relations Manager
Mail Courier
1.00
1.00
1.00
1.00
Policy Analyst
1.00
1.00
1.00
Special Districts Coordinator
1.00
1.00
1.00
Special Districts Program Manager
1.00
1.00
1.00
1_00
Chief Strategy and Innovation Officer
Y
1.00
1.00
_
1.00
CC0602 Administrative Services Total
_
11.00
13.00
13.00
13.00
CCO605 Emergency Management
_
Assistant Emergency Management Coordinator
1.00
1.00
1.00
1.00
Emergency Management Coordinator
1.00
1.00
1.00
1.00
Wireless Communications Program Manager
-
1.00
1.00
1.00
CCO605 Emergency Management Total
2.00
3.00
3.00
1
3.00
CC0635 City Secretary Services
Administrative Assistant
1 00
1.00
1.00
1.00
City Secretary
1.00
100
1 00
1.00
Deputy City Secretary
1.00
100
100
1.00
Open Records Coordinator
_
1.00
1.00
1.00
1.00
Open Records Multimedia Specialist
1.00
1.00
1.00
1.00
Open Records Program Manager
_
1.00
100
100
1.00
Records Management Analyst
1.00
1.00
1.00
1.00
Records Program Manager
_
1.00
100
1.00
i 00
_
Records Specialist
1.00
100
1.00
1.00
CC0635 City Secretary Services Total
9.00
9.00
9.00
9.00
CC0638 General Government Contracts
Overhire - Fire
3.00
300
3.00
3.00
Overhiro - Police
2.00
200
2.00
m
CC0638 General Government Contracts Total
_
5.00
5.00
5.00
5.00
CC0655 Communications/Public Engagement
_
Communications and Public Engagement Director
1.00
1.00
1.00
1.00
Marketing and Social Media Program Manager
1.00
100
1.00
1.00
Marketing Program Coordinator
1.00
ion
1.00
Multimedia Specialist
1.00
1.00
1.00
1.00
Public Communications Manager
1.00
1.00
1.00
1.00
Public Engagement Coordinator
1.00
1.00
1.00
1.00
Social Media and Marketing Coordinator
1.00
1.00
1.00
1.00
Website Content Specialist
1.00
1 00
1.00
_
1.00
CC0655 Communications/Public Enaaaement Total
8.00
8.00
8.00
8.00
CC0702 Police Administration
Administrative Assistant
Assistant Police Chief
Executive Assistant
Police Chief
Public Safety Information Specialist
CC0702 Police Administration Total
1 I
1.00 1.00 1.00
1.00 1.00 1.00
1 00 1.00 1.00
_ 1 on 1.00 1.00
1.00 1.00 1.00
5.00 5.00 5.00
_ 1.00
1.00
1.00
1.00_
1.00
5.00
CC0742 Police Operations
Animal Control Officer
Animal Control Supervisor
Crime Scene Specialist
Criminal Intelligence Analyst
Criminal Investigations Detective
Emergency Communications Manager
Emergency Communications Operator
Emergency Communications Operator Trainee
Emergency Communications Supervisor
Parking Enforcement Officer
Police Captain
Police Lieutenant
Police Officer
Police Records Specialist
Police Records Supervisor
Police Sergeant
Property & Evidence Control Technician
Public Safety Volunteer Program Coordinator
Senior Emergency Communications Operator
Victim Services Coordinator
Logistics Technician
CCO742 Police Operations Total
CCO744 Animal Services
Animal Care Suoervisor
Animal Control Officer
Animal Control Supervisor
Animal Health Technician
Animal Services Manager
Animal Services Marketing Coordinator
Animal Sheller Technician
Office Assistant
_ Veterinarian
CC0744 Animal Services Total
CC0745 Code Compliance
Chief Code Enforcement Officer
Code Compliance Supervisor
_ Code Enforcement Officer
CCO745 Code Compliance Total
- - 3.00
_ 1.00
2.00 2.00 2.00
1.00 1.00 1.00
2.00 2.00 2.00
100 1.00 1.00
7.00 7.00 7.00
2.00 2.00 2.00
4.00 4.00 4.00
1.00 1.00 1.00
2.00 2.00 2.00
9.00 9.00 9.00
72.00 8500 85.00
_ 3.00 3.00 3.00
1.00 1.00 1.00
15.00 15.00 15.00
1.00 100 1.00
0.50 0.50 0.50
11 00 1100 11.00
_ 1 00 100 1.00_
_
135.50 148.50 152.50
3.00
1:00
2.00
1.00
2.00
1.00
7.00
2.00
4.00
1.00
2.00
9.00
3.00
88.00
3A0
1.00
15.00
1.00
0.50
11.00
1.00
1.00
1.00
4.06
156.50
1.00
3.00 3.00
_ 1.00 1.00
2.00
2.00
2.00
1.00
0.50 - -
_ 0.50 -
13.00 4.00
_
1.00 1.00 1.00
1.00 1.00 1.00
_ 4.00 4.00 4.00
6.00 6.00 1 5.00
1.00
1.00
4.00
_
6.00
CCO802 Public Works
Administrative Assistant
Assistant Public Works Director
Contract Coordinator
Project Manager
Public Works Director
CCO802 Public Works Total
CCO846 Streets
Heavy Equipment Operator
Light Equipment Operator
Public Works Operations Asset Program Manager
Public Works Operations Manager
Public Works Planner Scheduler
Sign & Signal Field Technician
Streets Foroman
CC0846 Streets Total
CC0647 Transporatlon Planning
Public Works Engineer
Transportation Planning Coordinator
Transportation Planning Manager
CCO847Transporation Planning Total
100 General Fund Total
201 TouAsm
1:CO208 CVB
Art Center Information Specialist
Arts 8 Culture Coordinator
Economic Development Program Manager
Tourism 6 CVB Manager
Tourism Coordinator
Tourism Coordinator (Sup)
Visitor Information Specialist _
CCO208 CVB Total
201 Tourism Total
500 Facilities Maintenance Fund
CC0319 Facilities
Building Maintenance Technician
CIP Manager
Facilities Manager
Facilities Operations Supervisor
Facilities Project Manager
CC0319 Facilities Total
500 Facilities Maintenance Fund Total
520 Fleet Services Fund_
- - 1.00
1.00 .00 1.00
1.00 1.00 1.00
1.00
1.00 1.00 1.00
3.00 3.00 3.00 2.00
_
5.00 5.00 5.00
1.00
1.00
1.00
1.00
1.00
5.00
5.00
9.00
9:00
9.00
9.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1,OQ
1.00
1.00
1.00
6.00
6.00
6.00
6.00
3.00
3.00
3.00
1 3.00
26.00
26.00
26.00
26.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.D0
L00
1.00
1.00
3.00
3.00
3.00
3.00
0.50
0.50
1.00
1.00
1.00
1.00
In
1.()0
L00
1.00
1.00
1.00
2.00
2.00
.00
2.00
1.00
1.00
1.00
1.00
1.50
1.50
1.50
1.50
5.50
7.50
TJ30
0.1110
8.00
4.00 4.00 4.00
1.00 100 1.00
_ 1.00 1 00 1.00
1 1.00 1.00 1.00
1.00 1.00 1.00
B.00 8.00 8.00
8.00 8.00 8.00
4.00
1.00
1.00
1
1.00
1.00
8.00
CC0320 Fleet
Fleet Assistant
1.00
1.00
1.00
1.00
Fleet Services Manager
Fleet Superintendent
Lead Mechanic
Master Mechanic
Mechanic
1.00
1.00
1-00
_ 3.00
3.00
1.00
1.00
_ 1.00
1.00
1.00
_ _1_.0_1)
1.00
1.00
_
1.00
4.00
4.00
4.00
3.00
3.00
3.00
CC0320 Fleet Total
10.00
11.00
11.00
11.00
520 Fleet Services Fund Total
540 Joint Service Fund
CC0302 Finance Administration
Administrative Assistant
Assistant Chief Finance Officer
Assistant Treasurer
Budget Manager
Chef Financial Officer
Senior Budget Analyst
Treasurer
CCO302 Finance Administration Total
CCO315 Accounting
Accountant
Accounting Manager
Accounting Specialist
Controller
ERP Analvst
ERP Applications Administrator
Grant Manager
Payroll Specialist
Senior Accountant
Senior Accounting Specialist
Payroll Analyst
Accounting Supervisor
AO
t
_
1.00 1.00 1.00
2.00 2.00 2A0
1.00 1.00 100
1.00 1.00 1.00
_ 1.00 1.00 1.00
2.00 2.00 2.00
1.00 1.00 1.00
9.00 9.00 9.00
1.00 1.00 1.00
3.00 1.00 1.00
3.00 3.00 3.00
1.00 1.00 1.00
- - -
1.00 1 OD 1.00
_ j
2.00 1.00 1.00
_ _ 3.00 3.00 3.00
1.00 1.00 1.00 i
1.00 t00
2.00 2.00 I
1.00
200
_ _
_
_
_ 2.00
_
1.00
1.00
F
Ir}
I
_ 1.00
_ _ _ 1.00
1.00
_ 2.00
1.00
9.00
_ _ 3.00
_ _1.00
3.00
1.00
_ _ 1.00
1.00
_ 1.00
1.00
3.00
1.00
_ _ 1.00
2.00
CC0315 Accounting Total
15.00
15.00
CC0317 Purchasing
Buyer
2.00
3.00
Purchasing Assistant
1.00
1.00
Purchasing Manager
1.00
1.00
Senior Buyer
2.00
2.00
CC0317 Purchasing Total
6.00
7.00
CCO318 Warehouse
2.00
2.00
Senior Warehouse Worker
Warehouse Supervisor
1.00
1.00
CC0316 Warehouse Total
3.00
3.00
CC0321 Utility Customer Service
Customer Care Director
1.00
1.00
Customer Care Manager
1.00
1.00
Customer Service Representative
13.00
13.00
Customer Service Supervisor
1.00
1.00
Quality Assurance Coordinator
1.00
1.00
CC0321 Utility Customer Service Total
17.00
17.00
CC0322 Utility Customer Billing
Billing Analyst
600
6.00
Billing Manager
100
1.00
_
Billing Supervisor
2.00
2.00
Customer Service Representative
2.00
2.00
Development Account Specialist
3.00
3.00
ERP Applications Administrator
1.00
2.00
Metering Scheduling Supervisor
1.00
100
Meterina Technician
6.00
i.00
Senior Systems Analyst
1.00
100
CC0322 Utility Customer Billing Total
23.00
25.00
CCO626 Systems Engineering
Administrative Assistant
1.00
1.00
Assistant CIP Manager
3.00
3.00
CIP Manager (Sup)
1.00
1.00
Contract Coordinator
2.00
200
Inspection Supervisor
2.00
2.00
Project Manager
5.00
500
Public Improvement Inspector
3.00
3.00
Senior Public Improvement Inspector
5.00
5.00
Systems Engineering Director
1.00
1.00
Utility Project Manager
1.00
1.00
CCO526 Systems Engineering Total
24.00
24.00
CC0637 Economic Development
Administrative Assistant
_
1.00
1.00
Assistant Director of Economic Development
1.00
1.00
Economic Development Director
1.00
1.00
Economic Development Program Manager
1.00
1.00
Special Events & Marketing Coordinator
CC0637 Economic Development Total
_
4.00
4.00
I
CC0639 Human Resources
Assistant Human Resources Director
1.00
1.00
Benefits & Wellness Program Administrator
1.00
1;00
Benefits Coordinator
1.00
1.00
HRIS Analyst
1.00
1.00
1.00
1.00
Human Resources Director
Human Resources Generalist
3.00
_
300
Human Resources Manager
1.00
_
1.00
Human Resources Specialist
_
200
2.00
Safety & Risk Coordinator
1.00
100
Senior Human Resources Generalist
1 00
1.00
CC0639 Human Resources Total
13.00
13.00
CC0654 Legal
1.00
1.00
Assistant City Attorney
Assistant City Attorney II
1.00
1.00
1.00
City Attorney
Legal Assistant
1.00
1.00
Legal Program Manager
1.00
1.00
_ _
Senior Assistant City Atlame
1.00
1.00
Senior Assistant City Attorney1 - Real Estate Services
1.00
.00
CCO654 Legal Total
6.00
7.00
CC0658 Real Estate Services
Real Estate Services Coordinator
2.00
2.00
Real Estate Services Manager
2.00
2.00
CCO658 Real Estate Services Total
4.00
4.00
CC0556 Utility Locates
GIS Analyst II
1A0
00.
Line Locator Supervisor
12
too
Utility Systems Locator
6.00
1 6.00
15.00
3.00
1.00
1.00
2.00
7.00
2.00
100
3.00
1.00
1.00
1300
1.00
1.00
17.00
6.00
1.00
2.00
2.00
3.00
200
1.00
7.00
1.00
25.00
1.00
3.00
1.00
2.00
2.00
5.00
300
5.00
1.00
1.00
24.00
1.00
1.00 lj
1.00
1.00
1.00_
1.00
1.00
1.00
1.00
3.00
1.00
2.00
1.00
1.00
13.00
4.00 19.00
3.00
1.00
1.00
1.00
3.00
1.00
-1
8.00
1.00
1.00
1.00
_
_
_
_
1.00
1.00
1.00
1A0
.00
1.00
1.00
1.00
7.00
2.00
2.00
4.00
200
100
3.00
1.00
1 00
13.00
1.00
1.00
17.00
6.00
1 00
2.00
2.00
3.00
200
1.00
7.00
1.00
25.00
1.00
3.00
1.00
2.00
2.00
6.00
3.00
5.00
1.00
1.00
25.00
1.00
1.00
1.00
1.00
4.00
1.00
1.00
1.00
1.00
1.00
3.00
1.00
2.00
1.00
1.00
13.00
1.00
100
1.00
1.00
1.00
1.00
1 00
7.00
3.00
2.00
5.00
1.00
1.00
6.00
CCO556 Utility Locates Total
8.00
Business Process Analyst
1.00
Learning and Development Coordinator
1.00
Management Analyst
1.00
Organizational Development Manager
100
CCO503 Organizational Development Total
4.00
540 Joint Serdoo Fund Total
136.00
CCO647 IT End User Support
IT Supervisor
1.00
IT Support Specialist
2-00
_
Senior IT Support Specialist
2.00
_ _
CC0647 IT End User Support Total
5.00
CCO648 IT Fiber
_
Fiber Maintenance COo_r_dlNbr
1.00
_
IT Supervisor
1.00
CCO648 IT Fiber Total
2.00
CCO649 IT Applications
IT Manager
1.00
IT Supervisor
2-00
Lead Systems Analyst - GIS
3.00
Senior Systems Analyst
4.00
Senior Systems Analyst - GIS
1.00
Systems Analyst
1.00
Systems Analyst - GIS
2.00
CC0649IT Applications Total
14.00
CCO650 IT Public Safety
IT Manager
1.00
Public Safely Systems Analyst
3.00
CCO650 IT Public Safety Total
4.00
CC0651 IT Infrastructure
IT Manager
1.00
Lead Systems Administrator
1.00
Network Administrator
_
1.00
Senior Systems Administrator
2.00
Systems Administrator
2.00
CCO651 IT Infrastructure Total
7.00
CC0652IT Management
Administrative Assistant
Assistant IT Director
1.00
_
Contract Coordinator
1.00
_
IT Data Architect
1.00
IT Director
_
1.00
IT Manager
1.00
Lead Cyber Security Analyst
1.00
I -cad Systems Analyst
1.00
Senior Cyber Security Analyst
1_00
Senior Systems Analyst
1.00
Web Developer
1.00
CCO652 IT Management Total
10.00
570 Information Technology Fund Total t
42.00
600 Airport Operations
CCO635 Airport
_
Administrative Assistant
Airport Attendant
2.00
Airport Business Operations Coordinator
1.00
Airport Maintenance Supervisor
1.00
Airport Maintenance Worker
2.00
Airport Manager
_
1.00
Airport Operations Manager
1.00
CC0636 Airport Total
6.00
600 Airport Operations Total
8.00
610 Electric Services
CC0516 Operational Technology - Electrk
3.00
CCO520 Customer Energy Solutlorts _
3.00
CC0521 Operational Technology - Shared
7.00
660522 Electric Administration
10.00
CCO525 T&D Services
31.00
CC0537 Electric Resource Management
CCO555 Electric Systems Operations
7.00
8.00 8.00
1.00 1.00
1.00 1.00
1.00 1.00 f
1.00 1.00
4.00 4.00 i
140.00 140.00 7.00
I
1.00 ' 1.00
1-00 1.00
3.00 3.00
5.00 5.00
_
1.00
1.00
1.00 1.00
1.00 1.00
2.00 2.00
1.00 1 00
2-00 2.00
3.00 3.00
4.00 _ 4.00_
1.00 1.00
f
1.00 1.00_
2.00 2.00
_
14.00 14.00
1.00 1.00
3.00 3.00
4.00 4.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00
1.00 1.00 _
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
11.00
43.00
1.00
2.00
1.00
1.00
2.00
1.00
1.00
9.00
0.0111
4.00
3.00
7.00
10.00
36.00
8.00
1.00-1-
11.00
43.00 #,
1.00 _
2.00
1.00 _
1.00 _
2.00
_ 1.00 _
9.00
%Go
4.00
3.00
7.00
10.00
1.00
1.00
8.00
1.00
1.00
1.00
1,00
4.00
147.00
1.00
1.00
Rib
3.00
4.00
1.00
1.00
2.00
4.00
1.00
TO0
4.00
1.00
1.00
1.00
1.00
_1.00
1.00
1.00
_ 1.00
1.00
9A0
1.00
1.00
11.00
1.00
2.00
1.00
1.00
2.00
1.00
1.00
9.00
9.00
5.00
7.00
11.00
CC0557 Electrical Engineering
15.00
17.00
_ 12.00
4.00
16.00
CC0558 Engineering Technology
1.00
6.00t--
6.00
610 Electric Services Total
76.00
86.00
86.00
11.00
97.00
630 Solid Waste Fund
CC0533 Environmental Services
Environmental Services Coordinator
1.00
1.00
1.01
1.00
Environmental Services Program Manager
1.00
1.00_
_
1.00
1.00
_
Solid Waste Coordinator
`1.00
_ _
1.00
1.00 1
CC0533 Environmental Services Total
__
2.00
3.00
3.00
_ _ _
3.00
630 Solid Waste Fund Total
2.00
3.00
3.00
3.00
640 Stormwater Services
CCO843 Stormwater Administration & Reaulatory
Stormwater Inspector
1.00
1.00
1.00
1.00
2.00
Slonnwater Scheduler Planner
1.00
1.00
1.00
1.00
Stormwater Administrative and Regulatory Supervisor
1.00
1.00
1.00
1.00
CCO843 Stormwater Administration 6 Regulatory Total
3.00
' 3.00
_
1
1.00
4.00 '
CCO845 Stormwater Operations
Drainage Foreman
1.00
1.00
1.00
1.00
CIS Analyst 1
1.00
1.00
1.00
100
I ieavv Eauipment Operator
300
3.00
3.00
3-00
t.iaht Eauipment Operator
5.00
5.00
5.00
3.00
8.00
CCO845 Stormwater Operations Total
10.00
10.00
10.00
1 3.00
13.00 i
640 Stormwater Services Total
13.00
13.00
13.00
4.00
17.00
660 Water Services
CC0514 Operational Technology - Water
6.00
7.00
7.00
1.00
8.00
CCO524 Metering Services
17.00
17.00
17.00
I
17.00
I
CC0527 Water Services Administration
34.00
41.00
41.00
_
I
41.00
C_ CO528 Water Distribution
_
25.00
30.00
30.00
I
30.00
_
CCO529 Water Plant Management
24.00
24.00
24.00
24.00
CCO530 Wastewater Operations
19.00
19.00
19.00
19.00
CCO531 Wastewater Plant Management
13.00
20.00
20.00
j
20.00
CC0535 Water Conservation
10.00
13.00
13.00
_
13.00
CC0539 Regulatory Compliance
_ 7.00
9.00
9.00
i
9.00
CC9553 Water Operations
CCO554 Water Control Center
8.00
14.00
14.00
14.00
660 Water Services Total
168.00
194.00
194.00
' 1.00
195.00 J
Grand Total
1028.50
1-097.00
1-097-00
39-50
113650 J
CITY OF GEORGETOWN
TAXPAYER IMPACT STATEMENT
House Bill 1522, passed by the Texas Legislature in 2025, amends section 551.043 of the Texas
Government Code to require that the notice of a meeting required to be posted under section 551.043(a)
of the Texas Open Meetings Act, at which a governmental body will discuss or adopt a budget for the
governmental body, must include a taxpayer impact statement showing, for the median -valued
homestead property, a comparison of the property tax bill in dollars pertaining to the property for the
current fiscal year to an estimate of the property tax bill in dollars for the same property in the upcoming
fiscal year.
The City of Georgetown's proposed FY2027 budget is set to be adopted on August 25 and September
8, 2026.
Under the budget and tax rate for FY2027, the average homeowner (based on the Citys 2026 median
homestead taxable value of $361,764 provided by the Williamson Central Appraisal District) would pay:
$20 less than in the current year
$4 more than under the no -new- revenue rate
Median Value Homestead Pn
City of Georgetown Tax Rate
Estimated Property Tax Bill
Tax Year 2025
377,872
0.353000
$1,334
Tax Year 2026
Proposed Rate
361,764
0.363167
$1,314
Tax Year 2026
No -New -
Revenue Rate*
361,764
0.362168
$1,310
* The No -New -revenue Tax Rate, as calculated under Chapter 26 of the Texas Tax Code, may not be
capable of funding a balanced budget for the City.
The estimates in this Impact Statement are valid only for the budget and tax rate that the City Council is
considering at its meeting on August 25, 2026, and September 8, 2026. If the City Council intends to
discuss the budget at a subsequent meeting, the City will include a Taxpayer Impact Statement in the
notice for that meeting which will include updated estimates based on any amendments to the budget
and tax rate if applicable.
1:1�_
GEORGE TOWN
Fiscal and Budgetary Policy
Adopted: September 8, 2026
PURPOSE
The City of Georgetown is committed to financial management through integrity, prudent stewardship, planning,
accountability, transparency and communication. The broad purpose of the Fiscal and Budgetary Policies is to
enable the City and its related component units, including the Georgetown Transportation Enhancement
Corporation (GTEC) and the Georgetown Economic Development Corporation (GEDCO), to achieve and maintain
a long-term stable and positive financial condition, and provide guidelines for the day-to-day planning and
operations of the City's financial affairs.
Policy scope generally spans areas of accounting, operational and capital budgeting, revenue and expenditure
management, financial reporting, internal controls, investment and asset management, debt management and
forecasting. This is done in order to:
A. Demonstrate to the residents of Georgetown, the investment community, and the bond rating agencies that
the City is committed to a strong fiscal operation;
B. Provide precedents for future policy -makers and financial managers on common financial goals and
strategies;
C. Fairly present and fully disclose the financial position of the City in conformity to generally accepted
accounting principles (GAAP); and
D. Demonstrate compliance with finance -related legal and contractual issues in accordance with the Texas Local
Government Code and other legal mandates.
These policies will be reviewed and updated annually as part of the budget preparation process.
II. FUND STRUCTURE AND BASIS OF BUDGETING
The budgeted funds for the City of Georgetown include:
Governmental Funds: General Fund which accounts for all financial resources except those required
to be accounted for in another fund, and include basic governmental services,
such as Street Maintenance, Planning and Development, Police, Fire, and Parks.
Special Revenue Funds (SRF) account for specific revenues that are legally
restricted for specified purposes. Examples include Tourism, Parkland
Dedication, Library Donations, and Street Maintenance Sales Tax.
Debt Service Fund is used to account for the payment of general long-term debt
principal and interest.
Capital Project Funds are used to account for the acquisition or construction of
major capital facilities other than those financed by enterprise activities.
1
202J Annual BudgetA-
GEORGETOWN
Proprietary Funds: Internal Service Funds account for goods or services provided by one internal
department to another. The City uses this system to recognize cost for fleet
replacement and maintenance, facility maintenance, computer replacement
and maintenance and employee health insurance costs.
Enterprise Funds include the City's business like activities: electric, water and
wastewater, drainage, solid waste and the airport.
Basis of Accounting and Basis of Budgeting
The City accounts and budgets for all Governmental Funds using the modified accrual basis of accounting.
This basis means that revenue is recognized in the accounting period in which it becomes available and
measurable, while expenditures are recognized in the accounting period in which the liabilities are incurred.
Because the appropriated budget is used as the basis for control and comparison of budgeted and actual
amounts, the basis for preparing the budget is the same as the basis of accounting. Exceptions to the
modified accrual basis of accounting include:
• Grants, which are considered revenue when awarded, not received
• Principal and interest on long-term debt, which are recognized when paid.
Proprietary Funds are accounted and budgeted using the full -accrual basis of accounting. Under this method,
revenues are recognized when they are earned and measurable, while expenses are recognized when they
are incurred regardless of timing or related cash flows. The basis for preparing the budget is the same as the
basis of accounting except for principal payments on long-term debt and capital outlay which are treated as
budgeted expenses. Exceptions include:
• Depreciation which is not budgeted
• Non -budgeted accruals such as compensated absences.
III. OPERATING BUDGET
Budgeting is an essential element of the financial planning, control and evaluation process of municipal
government. The operating budget is the City's annual financial operating plan. The annual budget includes all
of the operating departments of the General Fund, proprietary funds, debt service funds, special revenue funds,
and capital improvement funds of the City.
A. Form of Government —The Charter (Section 1.03) established a Council -Manager Government wherein the
City vests power in the City Council to "enact legislation, adopt budgets, determine policies, and appoint the
City Manager who shall execute the laws and administer the government of the City."
B. Comprehensive Plan — The Charter (Section 1.08) requires that the City Council "establish comprehensive
planning as a continuous and ongoing governmental function in order to promote and strengthen the existing
role, processes and powers of the City of Georgetown." The current comprehensive plan is the 2030 Plan
adopted in 2006 and updated in 2020.
FY2027 Annual Budget ORGETOWN
C. Preparation — The Charter (Section 6.02) requires "a proposed budget prepared by the City Manager and
submitted to the City Council at least thirty days prior to the end of the fiscal year. The budget shall be
adopted not later than the twenty-seventh day of the last month of the fiscal year. No budget will be adopted
or appropriations made unless the total estimated revenues, income and funds available shall be equal to or
in excess of such budget or appropriations, except otherwise provided."
1. Proposed Budget — A proposed budget shall be prepared by the City Manager with participation of
all of the City's Directors within the provision of the Charter and the 2030 Plan.
a. The budget shall include four basic segments for review and evaluation:
• Revenue
• Personnel Costs
• Operations and Maintenance Costs
• Capital and other non -project Costs
b. The budget review process will include City Council participation in the development of each
segment and allow for resident participation in the process, and will allow for sufficient time to
address policy and fiscal issues by the City Council.
c. A copy of the proposed and approved budgets will be filed with the City Secretary when it is
submitted to the City Council and will be available on the City's website.
2. Adoption —Upon finalization of the budget appropriations, the City Council will hold a public hearing,
and subsequently adopt by Ordinance the final budget as amended. The budget will be effective for
the fiscal year beginning October V.
The Annual Budget document will be submitted annually to the Government Finance Officers
Association (GFOA) for evaluation and consideration for the Distinguished Budget Presentation
Award.
D. Balanced Budget — The goal of the City is to adopt and maintain a balanced operating budget using
sustainable funding sources that are expected to continue to be available in subsequent fiscal years. Excess
balances in operating funds from previous fiscal years shall remain in the fund in which they were
appropriated until either such excess balances are proposed and adopted pursuant to Section 111. C.
Preparation of this policy; until they are used to reduce outstanding debt obligations of the City; or both.
The Charter (Section 6.04) requires that an operating deficit created in any fiscal year shall be paid off and
discharged during the following year. In practice, deficit has been interpreted to mean City funds as a whole.
The City Council may choose from time to time to allow individual funds to have a negative balance as long
as Operating Reserve requirements for the City as a whole are maintained.
E. Planning — The budget process will be coordinated so that major policy issues are identified prior to the
budget approval date. This will allow City Council adequate time for consideration of appropriate decisions
and analysis of financial impacts.
F. Reporting — Summary financial reports will be presented to the City Council quarterly. These reports will be
in a format appropriate to enable the City Council to understand the overall budget and financial status.
3
FY2027 Annual Budget G EORGETOW N
TEXAS G. Control and Accountability — Each Director, appointed by the City Manager, will be responsible for the
administration of his/her departmental budget. This includes accomplishing the Goals and Objectives
adopted as part of the budget and monitoring each department budget for revenue collections and
compliance with spending limitations. Directors may transfer funds up to $25,000 within the operations and
maintenance or capital line items within a departmental budget category with approval from Finance. Cost
Center Managers may transfer funds up to $5,000 within the operations and maintenance or capital line
items within a cost center with approval from Finance. All transfers from or to the Personnel line items
require approval of the Chief Financial Officer and City Manager. All other transfers of appropriation or
budget amendments require either City Council or City Manager approval as outlined in Section I11.G Budget
Amendments and Section V.C.4 Use of Excess Salary Savings.
H. Budget Amendments — The Charter (Section 6.04) and the Local Government Code 102.009 and 102.010
provide a method to amend the budget for emergency appropriations and municipal purposes. The City
Council may authorize, with a majority plus one vote, an amendment to the original budget. This may be
done in cases of grave public necessity, or to meet an unusual and unforeseen condition that was not known
at the time the budget was adopted. The following criteria will be used in evaluation of budget amendments:
• Is the request necessary?
• Why was the item not budgeted in the normal budget process?
• Why can't a transfer be done within the Division to remedy the condition?
The Chief Financial Officer must certify availability of revenues or funding sources prior to adoption.
If needed, the City will amend the budget at year end for increased revenue and for expenditures that
exceeded budgeted amounts. The City may also amend the budget for any capital project timing adjustments
from prior year, as well as any other known adjustments needed and approved at that time.
I. Contingency Appropriations — The budget may include contingency appropriations within designated
operating department budgets. These funds are used to offset expenditures for unexpected maintenance
or other unanticipated expenses that might occur during the year. Currently, the City maintains contingency
appropriations for items such as insurance deductibles, unexpected legal expenses and equipment repairs.
The General Fund, General Government Contracts Cost Center, contains a $300,000 appropriation for
emergency circumstances. The purpose of this contingency is for use during locally declared disasters as a
short-term temporary measure to fund emergency supplies or services until a long-term solution is
developed. Since these funds are appropriated, the Council is authorizing the City Manager or Acting City
Manager, in partnership with the Finance Division, to approve use of these funds. Whenever possible, the
Mayor will be consulted prior to use. Council will be informed of the purpose and circumstances of use within
48 hours. The public will be informed of purpose and use as soon as practically possible. When these funds
are used, they should be restored as soon as practically possible from grant reimbursements, additional
revenues, one-time expense savings or other appropriate sources.
J. Use of Unanticipated and Unappropriated General Fund Balances —Within 90 days after fiscal year end, staff
will report the projected General Fund balance to Council. In the event that unexpected, unbudgeted
amounts are determined to be available in the General Fund after year end close, these funds may be used
for any of the following one-time purposes that mitigate increases in property taxes, as approved by the City
Council:
0 A O
�� • - GEORGEFOWN
1. to fund capital projects;
2. to fund equipment purchases in lieu of issuing debt;
3. to reduce outstanding City debt, including bonded indebtedness and unfunded pension liabilities;
4. to fund contingent liabilities such as the benefit payout reserve, and similar obligations of the City;
5. to hold those funds in reserves for future commitments or contingencies that may be pending,
and/or;
6. to fund one-time start-up programs or one-time studies.
IV. REVENUE MANAGEMENT
A. Characteristics —The City will strive for the following optimum characteristics in its revenue system:
1. Simplicity —The City, where possible and without sacrificing accuracy, will strive to keep the revenue
system simple in order to reduce compliance costs for the taxpayer or service recipient.
2. Certainty — A knowledge and understanding of revenue sources increases the reliability of the
revenue system. The City will understand its revenue sources and enact consistent collection policies
to provide assurances that the revenue base will materialize according to budget.
3. Equity —The City shall make every effort to maintain equity in its revenue system; i.e., the City should
seek to minimize or eliminate all forms of subsidization between entities, funds, services, utilities,
and customer classes, and ensure an on -going return on investment for the City.
a. The City will make every effort to recognize the benefit that City tax payers contribute to City
programs and services.
b. The Parks and Recreation Department maintains a separate policy on cost recovery goals. This
policy will be regularly reviewed and approved by the council.
4. Revenue Adequacy — The City should require there be a balance in the revenue system; i.e., the
revenue base will have the characteristics of fairness and neutrality as it applies to cost of service,
willingness to pay, and ability to pay.
5. Realistic and Conservative Estimates — Revenues will be estimated realistically, and conservatively,
taking into account the volatile nature of various revenue streams.
6. Administration —The benefits of a revenue source should exceed the cost of levying and collecting
that revenue.
7. Diversification and Stability — A diversified revenue system with a stable source of income shall be
maintained. This will help avoid instabilities in revenue sources due to factors such as fluctuations
in the economy and variations in the weather.
B. Other Considerations — The following considerations and issues will guide the City in its revenue policies
concerning specific sources of funds:
,A
GEORGETOWN
T E X A ,
Cost/Benefit of Incentives for Economic Development —The City will use due caution in the analysis
of any incentives that are used to encourage development. A cost/benefit (fiscal impact) analysis
will be performed as part of the evaluation.
2. Non -Recurring Revenues — One-time or non -recurring revenues should not be used to finance
current ongoing operations.
3. Sustainable Revenues —Sustainable means revenue that is consistently available year after year, and
includes revenues realized subsequent to adopted projections.
4. Property Tax Revenues — Annually, the City will forecast property tax revenue as part of the budget
process. Certified Assessed Value Reports from the Williamson Central Appraisal District are used to
forecast property tax. The City will comply with State law regarding publication notices and Truth in
Taxation requirements.
5. Interest Income — Interest earned from investments will be distributed to the funds in accordance
with the average daily cash balance of the fund from which the monies were provided to be invested.
6. User -Based Fees and Service Charges — For services associated with a user fee or charge, the direct
or indirect costs of that service will be offset by a fee where possible. The City will review fees and
charges no less than once every five years on a rotating schedule to ensure that fees provide
adequate coverage for the cost of services. The City Council will determine how much of the cost of
a service should be recovered by fees and charges.
7. Enterprise Activity Rates — The City will review and adopt utility and airport rates as needed to
generate revenues required to fully cover operating expenses, meet the legal requirements of all
applicable bond covenants, and provide for an adequate level of working capital. Enterprise rates
will be reviewed annually as part of the budget process. A rate study will be conducted no less than
every 3 years to review rate methodology and ensure revenues will meet future needs. All enterprise
rates will be based on standardized cost of service methodologies and conservation goals.
a. Water Rates will recognize at least 50% of the identified fixed costs of service, including debt
payments and Payment in Lieu of Taxes costs, within the monthly base charge determined by
meter size plus 75% with the first customer tier. Volumetric charge will recognize the balance
of fixed costs not included in the base rate, plus all variable costs associated with procuring and
treating water and enforcing conservation compliance goals.
Wastewater Rates are fixed for all residential customers based on the cost of providing services.
Commercial customer rates are fixed and volumetric depending on size and specifications of
each commercial customer.
Electric Rates include 100% of fixed costs within the base rate, and demand rates, with all
variable costs included in the kWh rate.
o The Power Cost Adjustment (PCA) Factor and Transmission Cost Adjustment (TCA)
Factor are determined by comparing forecasted costs against actual costs in a
budget year, and seek to recover/credit variances within 6 to 12 months.
!J
1:_i�
OPO
.•- GEORGETOWN
o The Very Large Commercial & Industrial Energy Rate Rider is used to recover the
Utility's net hedging cost for serving very large -load customers with an installed
capacity between 10 — 51 MW. The target account balance for the rate rider is 1%
of anticipated total revenues from the Very Large Commercial & Industrial customer
class. The City Manager, General Manager or their respective designees are
responsible for making periodic adjustments to the Energy Rate Rider, which will be
based upon two (2) months of actual power supply costs and six (6) months of
forecasted future costs to serve the customers in the Very Large Commercial and
Industrial Service class and the cumulative Energy Rate Rider account balance.
Changes to the Energy Rate Rider shall have the objective of maintaining a positive
cumulative Energy Rate Rider account balance.
o For reference, see Code of Ordinances 13.04.075 and 13.04.080 and 13.04.046.
d. Stormwater Drainage Fees are based on a mathematical calculation using impervious cover and
applied in compliance with State Law.
e. Solid Waste and Environmental Services Rates are based on the wholesale cost of service and
retail incentives for conservation, the cost to renovate the transfer station, a return to the
General Fund for wear and tear of heavy trucks on City streets, a franchise fee, an administrative
allocation for managing the solid waste contract and solid waste departmental programing, and
adequate reserves.
f. Airport Fuel and Lease Rates —fuel rates are based on the cost of the fuel plus a profit margin to
fund operations; lease rates are based on the appraisal of the land or facility plus an escalation
for consumer price index and used to fund operations, capital improvement, contingency, and
debt service requirements.
8. Internal Cost Recovery Fees —Additionally, enterprise activity rates will include transfers to and
receive credits from other funds as follows:
a. General and Administrative Charges — Administrative costs should be charged to all funds for
services of general overhead, such as administration, finance, customer billing, legal and other
costs as appropriate. These charges will be determined through an indirect cost allocation
following accepted practices and procedures and reviewed annually by the City's external
auditors.
b. Payment for Franchise of Right of Way and Payment in Lieu of Taxes — The intent of these
transfers to the General Fund are to provide a benefit to the citizens for the ownership of the
various utility operations.
Water, Wastewater, Irrigation, Solid Waste and Stormwater Drainage
• In -Lieu -of -Franchise -Fee. 3% of operating revenues from Charges, Connect Fees, Tap Fees,
Penalties and Late Fees.
• Payment in Lieu of Taxes (PILOT). The transfer is calculated at 7% of operating revenues
from Charges, Connect Fees, Tap Fees, Penalties and Late Fees.
Electric
7
_A_
FY2027 Annual Budget GEORGE
For customers inside the City, the franchise fee is $0.002947/kWh sold. The payment in lieu of
taxes for customers inside the City is 7% of gross revenue of the base monthly charge, and
$0.007253/kWh sold. For customers outside the City, there is no franchise fee to the City of
Georgetown; however, those customers may be subject to franchise fees in the jurisdiction in
which they reside. Outside the City customers are charged a payment in lieu of taxes equal to
7% of gross revenue of the base monthly charge, and $0.0102/kWh sold.
9. Revenue Monitoring — Received revenues will be regularly compared to budgeted revenues and
variances will be investigated, and any abnormalities will be included in the quarterly report to the
City Council.
10. Other Fundinp- Alternatives
When at all possible, the City will research alternative funding opportunities prior to issuing debt or
increasing user -related fees.
Grants — All grant applications must be approved by the City Council prior to being submitted to
a granting agency. Prior to submittal to Council, departments will verify that the benefits of the
grant exceed the cost of grant administration and will also provide the required grant forms to
Finance for review in accordance with the Grant Acquisition, Management, and Compliance
Policy. Finance will review and sign the forms which provides detailed information including, but
not limited to, the term of the grant, any matching requirements, the resulting operational
requirements once the grant is discontinued, and a budget request detailing the line items to be
effected, all of which should be included in the Council agenda item packet requesting approval
to apply. The City Council must also authorize acceptance of any grant awards received.
b. Use of Reserve Funds — The City may authorize the use of reserve funds to potentially delay or
eliminate a proposed bond issue. This may occur due to higher than anticipated fund balances
in prior years, thus eliminating or reducing the need for debt proceeds, or postpone a bond issue
until market conditions are more beneficial or timing of the related capital improvements does
not correspond with the planned bond issue. Reserve funds used in this manner are replenished
upon issuance of the proposed debt.
c. Developer Contributions — The City will require developers who negatively impact the City's
utility capital plans offset those impacts. These policies are further defined within the City's
utility line extension policy and other development regulations.
d. Leases —The City may authorize the use of lease financing for certain operating equipment when
it is determined that the cost benefit of such an arrangement is advantageous to the City.
e. Impact Fees — The City will impose impact fees as allowable under state law for transportation,
water and wastewater services. These fees will be calculated in accordance with statute and
reviewed at least every three years. All fees collected will fund projects identified within the Fee
study and as required by state laws.
f. Donations - Donations or endowments received by the City will be processed according to the
donations policy approved by City Council. Unless authorized stated in the donations policy or
other agreement approved by the City Council, if the City receives a donation or endowment
exceeding $100,000, a formal process shall be initiated in which City Council will be notified and
8
I
27 Annual Bud etGEORGETOWN
provided with all relevant details regarding the source and intent of the funds. City Council shall
then deliberate and provide direction on the appropriate use, allocation, or appropriation of
these funds, ensuring alignment with intent of the funds, community priorities, legal
requirements, and strategic goals. No expenditure of such funds shall occur without Council's
express approval.
V. EXPENDITURE MANAGEMENT
A. Appropriations — The point of budget control is at the department level budget for all funds. The Charter
(Section 6.03) provides that any transfer of appropriation between funds must be approved by the City
Council and that the City Manager, without City Council approval, is authorized to transfer appropriations
among departments, within the same operational division and fund.
B. Expenditure Monitoring — Expenditures and encumbrances will be regularly compared to budget, variances
will be investigated, and any abnormalities will be included in the quarterly report to the City Council.
Projected year-end expenditures will be reported in the annual budget.
C. Personnel Costs — Costs related to salaries and benefits are budgeted at 100% total costs, assuming open
positions are filled throughout the fiscal year. New positions that are added during the budget process may
have staggered hire dates with appropriate costs reflected in the budget.
1. Vacancy Factor— Major Funds with Personnel Budgets will include a vacancy factor of at least 1% of
total fund salaries and related benefits (retirement, FICA, Medicare) to offset salary savings within
the budget. The vacancy factor will be budgeted as a negative expense within the fund. This factor
will be reduced throughout the year as vacant positions are recognized within the department
budget.
Compliance Status — General Fund, Electric Fund, Water Fund and Joint Services Fund FY2027 in
compliance.
2. Benefit Payout Reserve —The City will establish a benefit payout reserve equal to 15% of the accrued
benefit liability for employees in the General and Joint Services Funds who are currently eligible to
retire. Only terminating employee benefit expenses may be paid from this reserve. This reserve shall
be funded as an offset to the vacancy factor.
Compliance Status — Benefit payout reserve FY2027 in compliance.
3. Position Control —The annual budget includes a set number of positions within departments when
approved and adopted by City Council. Additional positions cannot be added without approval of
the City Council. The City Manager may approve the transfer of authorized positions between
departments if funds are available within the department.
The City Manager may designate a number of placeholder positions in the position control schedule
to be available for use throughout the year to respond to service areas with pressure or unusual
hiring environment circumstances. The position control schedule is approved by Council as part of
the budget adoption process. The position control schedule and the expense budget will be amended
by Council to reflect mid -year changes as soon as practical.
9 °'
9
FY2027 Annual BUd etGFORGETOWN
Use of Excess Salary Savings — Departmental savings generated due to open positions or othersalary
line item savings cannot be spent by the department unless previously approved bythe City Manager
and validated by Finance as excess funds.
D. Special Purpose Funding — In order to support community assistance programs, the City designates specific
funding for special purposes, including Strategic Partnerships for Community Services, and Public Art. The
City reserves the ability to cap this special purpose funding when necessitated by budget contingency or
compliance issues, such as revenue shortfalls, or other reasons as determined by City Council.
1. Strategic Partnerships for Community Services — The City of Georgetown values partnerships with
organizations that are committed to addressing our communities' greatest public challenges and has
identified key partners like the Williamson County Children's Advocacy Center
The City has targeted funding for these partnerships that are determined as a part of the annual
budget development process.
Compliance Status — FY2027 in compliance.
D. Public Art Funding —The City may annually allocate up to 15% of Hotel Occupancy Tax funding for Public Art
in the Tourism Fund.
Compliance Status — FY2027 in compliance.
Every effort will be made to include public art funding in future City facilities whose primary purpose
is for public use. These projects will include a reasonable allowance for public art that fits the scope
and purpose of the building so long that it does not negatively impact the project cost beyond the
original budget. In the event there is cost savings in the construction of City Facilities, the City Council
may consider utilizing that savings on the purchase of public art for the facility.
E. Purchasing The City will maintain and regularly review written Purchasing Policies. All City purchases of
goods or services will be made in accordance with the City's Charter, current Purchasing Policy and with
State law.
The following table shows a summary of requirements for purchases of goods and services and does not
substitute the formal Purchasing Policies.
10
I
FY2027 Annual BudgetGEORGETOWN
Dollar Limits:
Procurements:
Requirements:
$3,000 and less
Under the small purchase
No competitive bids and City credit
limit
cards may be used.
$3,000.01 up to
Within informal bid limit
No competitive bids; Historically
$50,000
Underutilized Business (HUB)
requirements apply in accordance with
state law.
$50,000.01
Within informal bid limit
A minimum of three informal
up to
solicitation for bids required unless
$100,000
exempted; Historically Underutilized
Business (HUB) requirements apply in
accordance with state law.
$100,001
In excess of the informal bid
Formal competitive solicitations, which
and above
limit
includes public notices, required unless
exempted. Advisory board review and
recommendation may be
required. Council approval required.
Common exemptions to the formal competitive solicitation process include the procurement of professional
services, the purchase of goods or services from a sole source provider, and purchases for public health
emergencies (Texas Local Government Code 252.022).
In addition to the above, all purchases must be approved according to signature authority limits.
F. Contracts, Change Orders and Amendments — Contracts and related change orders and amendments must
follow the City's Purchasing Policies, Authority to Contract ordinance (Chapter 4.08 Code of Ordinances), and
State Law. Contract term lengths should balance the need for value as well as the ability to respond to
changing conditions.
G. Prompt Payment — In accordance with State Law, all invoices approved for payment by the proper City
authorities shall be paid within thirty (30) calendar days of receipt of goods or services or invoice date,
whichever is later in accordance with State law. The City will take advantage of all purchase discounts, when
possible.
H. Risk Management — The City will pursue every opportunity to provide for the Public's and City employees'
safety and to manage its risks. The goal shall be to minimize the risk of loss of resources through liability
claims with an emphasis on safety programs.
I. Retirement Benefits — Proposals to revise benefits administered and provided by the Texas Municipal
Retirement System shall include a written description and a detailed and summary numerical assessments
of the changes that would result from the proposed benefit revision.
1. The numerical assessments shall include the following:
a. The estimated change to the TMRS contribution rate that would result from the proposed
change in benefits, expressed as a percentage of employee pay and as an annual dollar amount
to the General Fund and to each City fund.
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b. The estimated change to the City's unfunded pension liability, expressed as a dollar amount.
c. The estimated change to the City's actuarial funding ratio.
2. The description and numerical assessments must be provided to the City Council at least 72 hours
prior to consideration and approval and must be read aloud to the Council prior to Council
consideration.
3. The estimated changes to the City's contribution rate and the unfunded pension liability presented
pursuant to the section must be based on information provided by the TMRS actuary or by a
professional actuary authorized by the TMRS to provide such information.
4. Proposals to revise TMRS benefits must be voted on individually as part of the City Council's
legislative agenda.
5. The City will amortize any unfunded actuarial liability (UAAL) over a period not to exceed the
amortization period used by the TMRS actuary. The City may amortize its UAAL more quickly by
making contributions to TMRS in excess of the rate specified by TMRS.
6. The City may elect to pay a higher contribution rate than required by the TMRS, to reduce the City's
unfunded pension liability. Such payment will be approved and authorized by the City Council as part
of the City's annual budget process.
I Retirement Cost -of -Living Adiustment
1. Within 60 days of when the TMRS annual funding update becomes available each year, staff will
review and may prepare a summary of costs and options for potential cost -of -living adjustment
(COLA) for City of Georgetown retirees.
2. Consistent with state statutes governing the Texas Municipal Retirement System, the City may
provide an automatic COLA for members of the TMRS who are retired from the City of Georgetown
and receiving a monthly retirement benefit from the TMRS.
3. The City Council may adjust the COLA provided to city retirees based upon the funding level of the
City's pension plan, as calculated by the TMRS, and review of a cost/benefit analysis, as follows:
When the funding level of the The COLA
City's pension plan is should be
Less than 70.0%
70.0% to 79.9%
80.0 % to 89.9
90.0% and greater
Zero
0.3% of CPI
0.5% of CPI
0.7% of CPI
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4. Adjustments made pursuant to Subsection J.3. should reflect the reciprocal effect of the prospective
change in the COLA on the funding level of the City's pension plan.
K. Deferred Compensation Benefits — In addition to the retirement benefit administered by the TMRS, the City
will sponsor a Deferred Compensation 457 plan and ROTH plan, which are supplementary individual
retirement savings plans. The City will encourage employee participation in these plans.
VI. STAFFING AND COMPENSATION
City Council and Management recognize the importance of attracting, hiring, developing, and retaining the best
people, and compensating them for the value they create. Our outstanding and innovative City employees work
diligently to bring the Vision of Council to life and deliver exceptional services to our customers while
exemplifying our Core Values. The following programs are subject to available funding in the annual operating
budget.
A. Adequate Staffing —Staffing levels will be adequate for the fiscal functions of the City to operate effectively
Workload allocation alternatives will be explored before adding additional staff.
B. Competitive Compensation — In order to maintain a competitive pay scale, the City has implemented a
Competitive Employee Compensation Maintenance Program to address competitive market factors and other
issues impacting compensation. The program consists of:
1. Annual Pay Plan Review — To ensure the City's pay system is accurate and competitive within the
market, the City will review its pay plans annually for any potential market adjustments necessary to
maintain the City's competitive pay plans.
2. Pay for Performance — Each year the City will fund performance -based pay adjustments for regular
non -Civil Service personnel. This merit -based program aids in retaining quality employees by
rewarding their performance. Pay for Performance adjustments are based on the employee's most
recently completed performance evaluation.
3. Civil Service Steps —Each year the City will fund anniversary step increases for Civil Service personnel
consistent with their respective pay scale design.
C. Self -Insurance Program — The City is committed to providing quality healthcare insurance that offers
flexibility in health benefits and options to its employees. In order to provide the most cost-effective solution,
the City has determined that establishing a self -funded health insurance plan offers the greatest opportunity
to mitigate future cost increases while offering quality health care services to its employees. The City has
established a mechanism to manage the accounts and payments associated with this program. Per GASB
Statement No. 66, such funding should be accounted for as an Internal Service Fund (ISF).
1. Employee Health Insurance ISF — This fund contains premium contributions from employees and
budgeted health insurance contributions included in the City's annual budget process. To maintain
stable revenue to this fund, and to clearly set expenditure expectations for departments, any
budgeted appropriations for employee health insurance that are unused at the end of each fiscal
year may be transferred back to the self-insurance fund after a review of financial metrics regarding
historical actual trends, forecasts and reserve levels.
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Self -Insurance Reserves — Annually through the budget process, staff and the City's Health Benefit
Consultant firm will evaluate and recommend to Council the appropriate funding levels for two
reserves.
a. Incurred But Not Reported (IBNR) Reserve: In the event the City stopped self -insuring for health
benefits and was required to pay incurred costs, the City will reserve no less than 10 percent and
no more than 20% of the annual costs of claims, benefit administration and stop loss coverage.
Compliance Status — IBNR reserve FY2027 in compliance.
Rate Stabilization Reserve: To alleviate shocks to the City and employees due to sharp increases
in health insurance costs, the City will reserve between 10 and 20 percent of annual medical
claims, benefit administration and stop loss coverage. Staff and the benefits consultant will
consider a 3-year forecast on premiums when determining to utilize the funds or rebuild the
reserve.
Compliance Status — Rate stabilization reserve FY2027 in compliance.
Employee Premiums — Annual premiums will be recommended to City Council through a
collaborative process between the City's Employee Benefit Committee and external Health Benefits
consulting firm using historical data, reserves history and other analytic analysis.
VI I. FUND BALANCE POLICIES
The City's Fund Balance is the accumulated difference between assets and liabilities within governmental funds,
and it allows the City to meet its contractual obligations, fund disaster or emergency costs, provide cash flow for
timing purposes and fund non -recurring expenses appropriated by City Council. This policy establishes limitations
on the purposes for which Fund Balances can be used in accordance with Governmental Accounting Standards
Board (GASB) Statement Number 54.
The City's Fund Balance will report up to five components:
A. Non -spendable Fund Balance — includes inherently non -spendable assets that will never convert to cash, as
well as assets that will not convert to cash soon enough to affect the current financial period. Assets included
in this category are prepaid items, inventory and non -financial assets held for resale.
B. Restricted Fund Balance — represents the portion of fund balance that is subject to legal restrictions, such as
grants or hotel/motel tax and bond proceeds.
C. Committed Fund Balance — describes the portion of fund balance that is constrained by limitations that the
City Council has imposed upon itself, and remains binding unless the City Council removes the limitation.
D. Assigned Fund Balance — is that portion of fund balance that reflects the City's intended use of the resource
and is established in a less formal method by the City for that designated purpose.
E. Unassigned Fund Balance — represents funds that cannot be properly classified in one of the other four
categories.
VIII. LONG-TERM LIABILITY RESERVES
The City of Georgetown recognizes certain long-term unfunded commitments and contingencies that will require
substantial funding at some point in the future. The City is committed to addressing these commitments in a
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fiscally prudent method by acknowledging their future financial impacts and developing strategies and
designated reserve funds to mitigate those future impacts.
A. The Chief Financial Officer will maintain a record of unfunded long-term liabilities through the Annual
Comprehensive Financial Report and a record of reserve compliance through this fiscal policy document.
Council may consider these unfunded commitments as part of the annual budget development process or
mid -year budget amendment process.
IX. BUDGET CONTINGENCY PLAN
This policy is designed to establish general guidelines for managing revenue shortfalls resulting from local and
national economic downturns that adversely affect the City's revenue streams.
A. Immediate Action — Once a budgetary shortfall is projected, the City Manager will take the necessary actions
to offset any revenue shortfall with a reduction in current expenses. The City Manager may:
1. Freeze all new hire and vacant positions except those deemed to be a necessity.
2. Review all planned capital expenditures.
3. Delay all "non -essential" spending or equipment replacement purchases.
The City Manager shall report in a timely manner to the City Council the projected shortfall and the actions
taken to resolve it.
B. Further Action —If the actions identified in subsection Aare insufficient to offset the projected revenue deficit
for the current fiscal year, the City Council may approve the following actions, in the order listed:
1. Apply unspent, unobligated surplus funds from prior fiscal years to fund one-time costs in the current
fiscal year budget.
2. Authorize the use of the General Fund Revenue Stability Reserve, contingency reserves, capital
reserves or any other reserves appropriate as outlined in the sections XII. CAPITAL MAINTENANCE
AND REPLACEMENT and XV. FINANCIAL CONDITIONS, RESERVES, AND STABILITY RATIOS.
3. Direct other reductions in services, including workforce reductions.
4. Authorize a temporary reduction in one or more fund's contingency reserves from 90 days to 75
days.
C. Replenish Fund Balance — Generally, if any existing reserve is used as described above in the budget
contingency plan, the reserve should be restored in the next fiscal year. If the restoration within one year is
impractical or places an undo strain of City services, staff shall recommend to Council an alternative timeline
that is subject to Council approval.
X. CAPITAL IMPROVEMENT PROGRAM (CIP) BUDGET
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XI.
The City's goal is to maintain City facilities and infrastructure in order to provide excellent services to the
customers within the community, meet growth related needs, and comply with all state and federal regulations.
A. Preparation —The City annually updates and adopts a five-year Capital Improvement Program (CIP) schedule
as part of the operating budget adoption process. The plan is reviewed and adjusted annually as needed, and
year one is adopted as the current year capital budget. The capital budget will include all capital projects,
capital resources, and estimated operational impacts.
1. Needed capital improvements are identified through system models, repair and maintenance
records and growth demands.
2. A team approach will be used to prioritize CIP projects, whereby City staff from all operational areas
provide input and ideas relating to each project and its effect on operations.
3. Citizen involvement and participation will be solicited in formulating the capital budget through
master planning processes, board meetings, public hearings and other forums.
4. Capital infrastructure necessary to meet the requirements of the City's Annexation Plan will be
identified separately within the CIP plan, so that funding alternatives can be developed if needed.
Prior to Council approval, the following Advisory Boards will review the Capital Projects budget and
contracts for expenditures:
Water Utility Board
Georgetown Transportation
Electric Utility
Parks Advisory
Enhancement Corporation
Board
Board
(GTEC)
Electric
Water
Parks and
Transportation projects related
Wastewater
Recreation
to economic development
B. Control — All capital project expenditures must be appropriated in the capital budget.
C. Financing Programs — Where applicable, assessments, impact fees, pro rata charges, or other fees should be
used to fund capital projects which have a primary benefit to specific identifiable property owners. Debt
financing is referenced in Section X/V. Debt Management of this document and addresses how capital
projects will be funded.
D. Debt will be addressed in Section XIV, but the City strives to balance debt funding with pay as you go funding
and will use Council's discretionary funds for projects that qualify.
CAPITAL MAINTENANCE AND REPLACEMENT
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The City recognizes that deferred maintenance increases future capital costs. Therefore, a portion of all
individual funds with infrastructure should be budgeted each year to maintain the quality within each system.
A. Infrastructure Maintenance — On -going maintenance and major repair costs are included as expense within
the departmental operating budgets. These costs are generally considered system repairs and are not
capitalized for accounting purposes. They include such items as park and recreation facility repairs, street
repair, water line repairs and other general system maintenance.
B. Street Assets and Pavement Condition
The City will continue to hold elections for the Streets Maintenance Sales Tax every four years, as it is the
main source of funding for street maintenance activity. The City will utilize the Pavement Condition Index
(PCI) and require studies that are operationally logical, timely and feasible to perform adequate
maintenance of the assets.
C. Internal Service Funds Capital Maintenance & Replacement —The City currently utilizes internal service funds
to maintain and replace existing assets. Assessments are made to other funds for the use of existing
equipment and to purchase new equipment. In this way, suitable funds are available for the purchase of
operational assets without the issuance of debt.
1. Fleet Maintenance and Replacement — The City has a major investment in its fleet of cars, trucks,
tractors, and other equipment. The City will anticipate replacing existing equipment, as necessary
and will establish charges that are assigned to the using departments to account for the cost of that
replacement. Vehicle maintenance is also allocated in this manner. The targeted asset replacement
reserve amount is the average (1/5th) of the next five years on the replacement schedule for cash -
funded governmental fund vehicles. Additional available balance above the capital reserve target
may be used for one-time expenses, such as capital equipment for the Fleet Shop and costs related
to renovating, constructing or expanding the existing Fleet building or a new Fleet related facility.
Compliance Status — Fleet replacement reserve FY2027 in compliance.
It is the general policy of the City not to hold back vehicles or equipment from replacement or
disposition. Departmental requests to hold back units must be approved by the Fleet Manager and
the City Manager.
2. Technology — It is the policy of the City to plan and fund the maintenance and replacement of its
computer network and other technology systems. A reserve will be established within the ISF for
replacement of major systems and will be funded over time through excess revenues within the
Fund. The targeted amount is the average (1/5th) of the next five years on the replacement schedule.
While cash funding is preferred, major IT systems and projects may require debt that is amortized
over a shorter useful life appropriate for the software or hardware.
Compliance Status — IT replacement reserve FY2027 in compliance.
3. Facilities Maintenance —The City has established an on -going maintenance program, which includes
major repairs, equipment, as well as contracts for maintaining City facilities. The City has anticipated
a useful life of such equipment and established a means of charging those costs to the various
departments in order to recognize the City's continuing costs of maintaining its facilities.
Determination for facility repairs is based on useful life of the various elements of each facility. A
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FYZOZ7 Annual BudgetGEORGETOWN
proportional cost for each element is expensed within the budget for capital replacement. The
targeted replacement reserve amount is the average (1/5`h) of the next five years on the replacement
schedule.
Compliance Status — Facilities replacement reserve FY2027 compliance.
D. Departmental Capital Maintenance & Replacement —The City also utilizes department capital maintenance
and replacement schedules for specialized assets and equipment necessary to provide services.
Parks and Recreation —As part of the City's on -going maintenance program, the City also recognizes
the need to regularly maintain and replace playgrounds, equipment and facilities that are part of the
City's Parks and Recreation system. Separate replacement and maintenance schedules will be
maintained for these items including, but not limited to, playground equipment, buildings, sport
courts, trees and grounds, and restroom facilities. The City's goal is to provide level on -going funding
to ensure safe, well -maintained facilities for its citizens. The capital equipment replacement schedule
will be funded with short-term property -tax backed debt instrument, with term length consistent
with useful life of the assets or shorter.
Compliance Status — Parks maintenance replacement FY2027 in compliance.
2. Cemetery Maintenance - The General Fund makes an annual transfer of $75,000 to the cemetery
fund to assist with general operations and maintenance activity not covered through cemetery
revenues.
Public Safety Equipment — As part of the City's on -going maintenance program, the City also
recognizes the need to regularly maintain and replace specialized equipment in Police and Fire.
Separate replacement and maintenance schedules will be maintained for these items including but
not limited to for Fire: SCBA's and other firefighting equipment and protective gear; and for Police:
bullet proof vests, armaments and other tactical equipment. The City's goal is to provide level on-
going funding to ensure proper protection for employees and residents. The current funding level is
an annual appropriation in the General Fund of $80,000 for Fire and $88,000 for Police.
Compliance Status — Public safety equipment replacement FY2027 in compliance.
E. Surplus Property
1. From time to time it is necessary to dispose of certain vehicles or equipment that have been procured
with City funds and used in City services.
City staff will maintain reports and records of all surplus property dispositions in accordance with
good internal controls.
XII. ACCOUNTING, AUDITING, AND FINANCIAL REPORTING
A. Accounting — The City is solely responsible for the recording and reporting of its financial affairs, both
internally and externally. The Chief Financial Officer is responsible for establishing the structure for the City's
Chart of Accounts and for assuring that procedures are in place to properly record financial transactions and
report the City's financial position.
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FY2027 Annual Bud etGEORGETOWN
B. Audit and Finance Sub -Committee — The City may establish a subcommittee consisting of at least 3 City
Council members that may meet quarterly to provide additional strategic oversight to the City's Finance
operations. The City's Chief Financial Officer will be the liaison for this subcommittee.
C. Audit of Accounts — In accordance with the Charter, an independent audit of the City accounts will be
performed every year. The auditor is retained by and is accountable directly to the City Council. The auditing
firm will serve for up to 5 years, at which time, the City will re -bid these services and change firms if deemed
necessary by Audit and Finance Sub -Committee and City Council.
D. External Reporting — Upon completion and acceptance of the annual audit by the City's auditors, the City
shall prepare a written Annual Financial Report which shall be presented to the City Council within 180
calendar days of the City's fiscal year end. The report shall be prepared in accordance with Generally
Accepted Accounting Principles (GAAP) and shall be presented annually to the Government Finance Officer
Association (GFOA) for evaluation and consideration for the Certificate of Achievement in Financial
Reporting.
XIII. ASSET MANAGEMENT
A. Cash Management and Investments — The City Council has formally approved a separate Investment Policy
for the City of Georgetown that meets the requirements of the Public Funds Investment Act (PFIA), Section
2256 and 2257 of the Texas Local Government Code. This policy is reviewed annually by the City Council and
applies to all financial assets held by the City and applies to all entities (component units) included in the
City's Annual Financial Report and/or managed by the City. Refer to the separate policy for details regarding:
1. Statement of Cash Management Philosophy
2. Objectives
3. Safekeeping and Custody
4 Standard of Care and Reporting
5. Investment Strategies
6. Authorized Investments and Approved Broker/Dealer List.
B. Fixed Assets —These assets will be reasonably safeguarded and properly accounted for, and prudently
insured.
1. Capitalization Criteria — For purposes of budgeting and accounting classification, the following
criteria must be met in order to be capitalized:
a. The asset owned by the City
b. The expected useful life of the asset must be longer than one year, or extend the life of an
identifiable existing asset by more than one year
c. The original cost of the asset must be at least $5,000
d. The asset must be tangible, or uniquely intangible like a trademark.
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FY2027 Annual Budget O
On -going repairs and general maintenance are not capitalized. Public Education and Government
(PEG) Funds will capitalize assets in aggregate over $1,000 on an annual basis.
New Purchases — All costs associated with bringing the asset into working order will be capitalized
as part of the asset cost. This will include startup costs, engineering or consultant type fees as part
of the asset cost once the decision or commitment to purchase the asset is made. The cost of land
acquired should include all related costs associated with its purchase. Appropriate personnel and
overhead costs are capitalized in the Electric fund.
3. Improvements and Replacement — Improvements will be capitalized when they extend the original
life of an asset or when they make the asset more valuable than it was originally. The replacement
of assets components will normally be expensed unless they are a significant nature and meet all the
capitalization criteria.
4. Contributed Capital — Infrastructure assets received from developers or as a result of annexation will
be recorded as equity contributions when they are received.
Distributions Systems — All costs associated with public domain assets, such as streets and utility
distribution systems, will be capitalized in accordance with the capitalization policy. Costs should
include engineering, construction and other related costs including right of way acquisition. For the
Electric Distribution system, all component parts associated with a capital project shall be accounted
for and capitalized in accordance with the Federal Energy Regulatory Commission (FERC) guidelines.
These are an exception to the capitalization criteria above.
6. Reporting and Inventory — The Finance Division will maintain the permanent records of the City's
fixed assets, including description, cost, department of responsibility, date of acquisition,
depreciation and expected useful life. Periodically, random sampling at the department level will be
performed to inventory fixed assets assigned to that department. Responsibility for safeguarding
the City's fixed assets lies with the department supervisor or manager whose department has been
assigned the asset.
XIV. DEBT MANAGEMENT
The City of Georgetown recognizes the primary purpose of capital facilities is to provide services to the
community. Using debt financing to meet the capital needs of the community must be evaluated according to
efficiency and equity. Efficiency must be evaluated to determine the highest rate of return for a given investment
of resources. Equity is resolved by determining who should pay for the cost of capital improvements. In meeting
demand for additional services, the City will strive to balance the needs between debt financing and "pay as you
go" methods. The City realizes that failure to meet the demands of growth may inhibit its continued economic
viability, but also realizes that too much debt may have detrimental effects on the City's long-range financial
condition.
The City will issue debt only for the purpose of acquiring or constructing capital assets for the general benefit of
its citizens and to allow it to fulfill its various purposes as a city. The City will seek input on major projects funded
with debt via bond elections, master planning exercises, board meetings, budget workshops, and other methods
as needed.
A Debt Condition Update report will be provided annually.
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t 1 % A \ A. Usage of Debt — Long-term debt financing will be considered for non -continuous capital improvements of
which future citizens will benefit. Alternatives for financing will be explored prior to debt issuance and
include, but not limited to:
• Grants
• Use of Reserve Funds
• Use of Current Revenues
• Contributions from developers and others
• Leases
• Impact Fees
When the City utilizes long-term financing, it will ensure that the debt is soundly financed by conservatively
projecting revenue sources that will be used to pay the debt. It will not finance the improvement over a
period greater than the useful life of the improvement and it will determine that the cost benefit of the
improvement, including interest costs, is positive to the community.
The City may utilize the benefits of short-term debt financing to purchase operating equipment provided the
debt doesn't extend past the useful life of the asset and the potential impact to the tax rate is within policy
guidelines.
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FY2027 Annual BudgetGFORGETOWN
B. Types of Debt
1. General Obligation Bonds (GO's) — General obligation bonds must be authorized by a vote of the
citizens of Georgetown. They are used only to fund capital assets of the general government and
are not to be used to fund operating needs of the City. The City's ad valorem taxing authority backs
general obligation bonds. Conditions for issuance of general obligation debt include:
a. When the project will have a significant impact on the tax rate;
b. When the project may be controversial even though it is routine in nature; or
c. When the project falls outside the normal bounds of projects the City has typically done
For debt programs that include multiple projects that will be issued over multiple years at the discretion of the City
Council, the City may present an Agreement with the Voters to manage future property tax rate impacts. The
Agreement with the Voters will be included in educational information for all applicable GO Bond elections and will
include a maximum annual tax rate increase and a cumulative total per bond authorization maximum tax rate
increase. The City will include these impacts in its annual Debt Condition report. Council and staff will strive to achieve
terms in the Agreement with the Voters, but in order to sell the bonds in the market for the lowest interest rate and
achieve cost of borrowing for the citizens, the City will need to retain the legal ability to set a debt tax rate sufficient
to repay the bonds in the event conditions in state law, bond market conditions, and taxable assessed values impact
the debt tax rate in ways beyond the City's control.
The City Council will carefully manage the unissued GO Bond authorization through annual review of related projects
to ensure full disclosure on future timing of projects included in the bond package. Timing of authorized projects
and related bond issuance will be included in the Annual Budget and published on the City's website. Any changes
to this schedule require specific Council authorization.
Revenue Bonds — Revenue bonds will be issued to provide for the capital needs of any activities
where the capital requirements are necessary for the continuation or expansion of a service. The
improved activity shall produce a revenue stream to fund the debt service requirements of the
necessary improvement to provide service expansion. The average life of the obligation should not
exceed the useful life of the asset(s) to be funded by the bond issue, and will generally be limited to
no more than twenty (20) years. An exception can be made for plant expansions or related system
expansions whose useful life is in excess of 30 years. A cost benefit analysis will be done to fully
disclose the impacts of extending debt beyond 20 years.
Certificates of Obligation, Contract Obligations (CO's) — Certificates of obligation or contract
obligations may be used to fund capital requirements that are not otherwise funded by general
obligation or revenue bonds, as allowed by state law. Debt service for CO's may be either from
general revenues (tax -supported) or supported by a specific revenue stream(s) or a combination of
both. Typically, the City may issue CO's when the following conditions are met:
a. When the proposed debt will have minimal impact on future effective property tax rates;
b. When the projects to be funded are within the normal bounds of City capital requirements, such
as for roads, parks, various infrastructure and City facilities and equipment; and
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GEORGETOWN
c. When the average life of the obligation does not exceed the useful life of the asset(s) to be
funded by the issue; and in cases of an emergency when funds must be procured sooner than
the bi-annual timing of the bond election.
Certificates of obligation will be the least preferred method of financing and will be used with
prudent care and judgment by the City Council during the budget development process.
4. Self-supporting Certificates of Obligation Debt — Refers to certificates of obligation issued for a
specific purpose and repaid through dedicated revenues other than ad valorem taxes. The annual
debt requirements are not included in the property tax calculation. Both the Airport and Stormwater
Drainage funds will issue this type of debt. In addition, the Electric and Water Services Funds can
utilize this method of funding non -system capital assets. The City also issues debt on behalf of the
Georgetown Transportation Enhancement Corporation (GTEC) and the Georgetown Economic
Development Corporation (GEDCO) whom then pledge 4A and 4B sales tax revenue for the
repayment of that debt. Tax Increment Reinvestment Zones also may issue self-supporting debt.
5. Internal borrowing between City Funds — The City Council can authorize use of existing long-term
reserves as formal loans between funds. The Council will consider the following circumstances:
1. The emergency or other circumstances and why an internal loan is the best viable
option;
2. The dollar amount of the loan will be within the core balance reserves of the lending
fund and will otherwise not be restricted by local or state regulation;
3. The borrowing fund will repay the loan at a rate consistent with current market
conditions. The loan will be considered an investment of working capital reserves by the
lending fund. The interest rate will be comparable to prevailing investment rates for
public funds at the time the loan is made; and a fixed, variable or other rate structure
will be defined at the time the loan is approved;
4. The maximum maturity will be three (3) years.
5. A reimbursement resolution may be used to reimburse a short-term loan (up to 1 year
maturity) with long-term debt proceeds;
6. Formal loans will be appropriately recorded and reported.
6. Refundings — The City Council may refinance debt to achieve interest cost savings as market
conditions change, or to remove restrictive covenants, or to further other City goals as expressed by
Council. The City's Financial Advisor will prepare refunding analysis for consideration and
demonstrate that the savings of the refinancing are greater than the issuance costs to refinance,
with a target minimum net present value savings of 3-5%.
7. Other Short-term Borrowing — The City may authorize the issuance of Public Property Finance
Contractual Obligations (PPFCO) which is short-term obligations for the acquisition of personal public
property, such as equipment. PPFCOs are payable from either ad valorem taxes or another dedicated
revenue stream. Each issuance will be assessed to ensure cost effectiveness and the repayment
schedule will not exceed the useful life of the asset. Multiple equipment acquisitions can be grouped
in a single PPFCO issue in order to develop economies of scale.
In FY2021, the City issued a $48 million PPFCO for the energy costs of Winter Storm Uri. The Council
approved a 9.5 year term with a 5 year call option. Because energy costs are an ongoing operating
expense, it is the intent of the City to review all options to pay off this debt issue as soon as possible,
balanced against rate competitiveness, Electric fund liquidity, and other practical factors.
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The City may authorize the issuance of Limited Tax Notes for tax -supported obligations whose
issuance timeframe occurs outside of the City's normal bond issuance schedule or for other
emergency needs. The Limited Tax Notes must have a maximum maturity of seven years. They may
be sold either as public, rated offerings in a competitive or negotiated sale, or they may be privately
placed depending on the financing goals of the City and market conditions at the time of sale.
The City may authorize a Note Purchase Agreement for the purposes of establishing a Letter of Credit
as collateral to participate in the Electric Reliability Council of Texas (ERCOT) market. Notes would
only be delivered under the agreement in the event ERCOT were to draw on the Letter of Credit. Any
notes so delivered would be payable from utility revenues and would come due in 90 days after their
delivery date.
C. Method of Sale —The City will use a competitive bidding process in the sale of bonds unless conditions in the
bond market or the nature of the issue warrant a negotiated bid, private placement or other method. In
such situations, the City will publicly present the reasons for the other method. The City will rely on the
recommendation of the financial advisor in the selection of the underwriter or direct purchaser. The financial
advisor must meet all licensing requirements and comply with all Municipal Securities Rulemaking Board
(MSRB) regulations. The City's financial advisor will not act as the underwriter on any City bond issue.
D. Disclosure — Full disclosure of operating costs along with capital costs will be made to the bond rating
agencies and other users of financial information. The City staff, with assistance of the financial advisor and
bond counsel, will prepare the necessary materials for presentation to the rating agencies and will aid in the
production of the Preliminary Official Statements. The City will take responsibility for the accuracy of all
financial information released.
E. Federal Requirements — The City will maintain written procedures to follow post issuance compliance rules,
arbitrage rebate and other Federal requirements.
1. Post issuance tax compliance rules will include records retention, arbitrage rebate, use of proceeds,
and
2. Continuing disclosure requirements under SEC Rule 15c2-12, MSRB standards, or as maybe required
by bond covenants or related agreements.
Debt Structuring — The City prefers to issue bonds with a term of twenty (20) years or less, not to exceed the
useful life of the asset acquired. The structure should approximate level debt service unless operational
matters dictate otherwise. Market factors, such as the effects of tax-exempt designations, the cost of early
redemption options and the like, will be given consideration during the structuring of long term debt
instruments. Exceptions to the 20 year term include debt issues for major system expansions, such as water,
sewer or electric plants, in which case the City may issue debt greater than 20 years since the useful life of
the asset exceeds 30 years. A cost benefit analysis indicating the impacts of extending debt beyond 20 years
will be completed.
Fixed interest rate basis will be preferred because it aids in predictable budget and multi -year forecasting for
the issuing funds. Variable rate debt can sometimes allow early repayment with no penalty. Variable rate
debt may be considered by the Council as a tool to provide flexibility in setting the tax rate and determine
use of one-time available fund balances. The City's Financial Advisor will provide an analysis of the benefits
of a variable rate structure versus interest rate risk, remarketing risk, and liquidity risk. Because variable rate
debt introduces risk and administrative burden on staff and advisors, the amount of allowed variable rate
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debt will be limited to no more than ten percent (10%) of the City's outstanding debt principal per system
(tax -supported, utility supported).
G. Utility and Self -Supporting Debt Coverage Ratio — Refers to the number of times all utility supported debt
service requirements or payments would be covered by the current operating revenues net of on -going
operating expenses of the City's combined utilities (Electric, Water, and Wastewater).
The City will maintain a minimum debt service coverage ratio of 1.5 times for the utilities as a whole. The
bond ordinances allow the City to forego a debt reserve fund for its utility debt if the coverage is maintained
at 1.35 times or better. A coverage ratio of 1.0 times will also be required for all funds issuing self-supporting
debt (Airport, Stormwater, Solid Waste, GTEC, GEDCO, PID and TIRZ).
Compliance Status — Debt coverage ratio FY2027 in compliance.
H. Bond Reimbursement Resolutions —The City may utilize bond reimbursements as a tool to manage its debt
issues, due to arbitrage requirements and project timing. In so doing, the City uses its capital reserve cash
to delay bond issues until such time when issuance is favorable and beneficial to the City.
The City Council may authorize a bond reimbursement resolution for General Capital projects that have a
direct impact on the City's ad valorem tax rate when the bonds will be issued within the term of the existing
City Council. In the event of unexpected circumstances that delay the timing of projects, or market
conditions that prohibit financially sound debt issuance, the approved project can be postponed and
considered by a future council until circumstantial issues can be resolved.
The City Council may also authorize revenue bond reimbursements for approved utility and other self-
supporting capital projects within legislative limits. Currently revenue bonds must be issued within 18
months after an eligible bond funded project is begun.
The total outstanding bond reimbursements may not exceed the total amount of the City's reserve funds.
XV. FINANCIAL CONDITIONS, RESERVES, AND STABILITY RATIOS
The City of Georgetown will maintain budgeted minimum reserves in the ending working capital/fund balances
to provide a secure, healthy financial base for the City in the event of a natural disaster or other emergency,
allow stability of City operations should revenues fall short of budgeted projections and provide available
resources to implement budgeted expenditures without regard to actual timing of cash flows into the City.
Generally, if any existing reserve is used to cover expenses as described, the reserve should be restored in the
next fiscal year. If the restoration within one year is impractical or places and undo strain of City services, staff
shall recommend to Council an alternative timeline that is subject to Council approval.
A. Operational Coverage — The City's goal is to maintain operations coverage of 1.0 (one), such that operating
revenues will at least equal or exceed current operating expenditures. Deferrals, short-term loans, or one-
time sources will be avoided as budget balancing techniques. Reserves will be used only for emergencies or
non -recurring expenditures, except when balances can be reduced because their levels exceed guideline
minimums as stated below.
B. Reserves
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FY2027 Annual Budget GEORGETOWN
1. Citywide Operating Reserve —The City will maintain reserves at a minimum of seventy-five (75) days
(20.83%) of net budgeted citywide operating expenditures. Net budgeted operating expenditure is
defined as total budgeted expenditures less interfund transfers and charges, capital improvements,
direct cost for purchased power, debt service, non -operating special revenue funds and payments
to third party grant agents. The amount of these funds are allocated within the following operating
funds and using the following guidelines to maintain the fund balance, working capital and retained
earnings (reserves) of the various operating funds at levels sufficient to protect the City's
creditworthiness, as well as, its financial position from unforeseeable emergencies. For asset
replacement reserves, see Section A Capital Maintenance and Replacement.
Compliance Status — 75 day citywide reserves FY2027 in compliance.
2. General Fund —General Fund reserves will be assigned on the balance sheet. Reserves are allocated
as follows:
a. Contingency Reserve — will equal ninety (90) days, or 25%, of current year budgeted operating
expenditures designated for emergency use only.
Compliance Status — General Fund 90 day Reserve FY2027 in compliance.
b. Revenue Stability Reserve — will equal up to 10% of current year budgeted operating
expenditures. The reserve will be designated to temporarily offset a decline in any General Fund
revenue source during the current fiscal year or in planning the future budget year. The reserve
may be used when growth in any General Fund revenue source from one fiscal year to the next
is below projections. The reserve will be available to support only existing programs approved in
a prior fiscal year.
Compliance Status — General Fund Stability Reserve FY2027 at 8%.
c. Master Development Fee Reserve — The City collects Master Development Fees as one-time
payment for the impact on City services from a large set of residential units in the City's extra-
territorial jurisdiction. The City will reserve these fees below line in the General Fund for one-
time expenses such as special projects related to development. Eligible expenses include, but
are not limited to: planning studies, construction and maintenance of streets, sidewalks, trails,
and parks.
3. Tourism Fund — A minimum ninety (90) days of operating expenditures will be reserved within the
fund balance. These funds are designated to be used to offset any potential revenue shortfall that
occurs during the fiscal year.
Compliance Status — Tourism Fund Operating Reserve FY2027 in compliance.
Excess revenues or expenditure savings may be reserved for future capital infrastructure, capital
equipment, one-time programs and studies, or other appropriate one-time uses eligible for hotel
occupancy tax expense.
4. Joint Services Fund — A minimum ninety (90) days of operating expenses will be reserved for
unexpected delays in revenue or emergency expenses.
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Compliance Status —Joint Services Fund Reserve FY2027 in compliance.
5. Fleet Fund — A minimum ninety (90) days of operating expenses will be reserved for unexpected
delays in revenue or emergency expenses.
Compliance Status — Fleet Fund Reserve FY2027 in compliance.
6. Facilities Fund - A minimum ninety (90) days of operating expenses will be reserved for unexpected
delays in revenue or emergency expenses.
Compliance Status — Facilities Fund Reserve FY2027 in compliance.
7. Information Technology Fund - A minimum ninety (90) days of operating expenses will be reserved
for unexpected delays in revenue or emergency expenses.
Compliance Status — IT Fund Reserve FY2027 in compliance.
8. Water Services Fund —The Water Fund will maintain the following reserves and assign them on the
balance sheet. These reserves are designated to be used to offset potential revenue shortfalls or
fund unexpected or emergency expenses that occur during the fiscal year.
Operations Contingency Reserve —A minimum ninety (90) days or 25% of operating expenses,
including wholesale water contracts and transfers out, designated for unexpected or
emergency use during the fiscal year. The targeted reserve amount is 120 days, and the
maximum amount is 365 days.
Compliance Status — Operating Water Fund Reserve FY2027 in compliance.
Non -Operating Contingency Reserve — to maintain continuity of debt payments, capital projects
and to begin recovering from a natural disaster during the lag time of revenue recovery. This
reserve will be a minimum of 50% of the annual debt service in each fiscal year.
Compliance Status — Non -operating Water Fund Reserve FY2027 in compliance.
Impact Fee Reserve — Impact fees are restricted revenues that may be used for eligible capital
project and debt payment expenditures. The City conservatively plans for the use of impact fees
by reserving all impact fees received in the current budget year, reconciling the impact fee
"child" fund after the annual audit is complete, and appropriating received impact fees towards
projects or debt service in future fiscal years.
9. Stormwater Drainage Fund — The Stormwater Fund will maintain the following reserves and assign
them on the balance sheet:
a. A minimum ninety (90) days or 25% of operating expenses, will be reserved in fund balance.
These funds are designated to be used to offset any potential revenue shortfall that occurs
during the fiscal year.
Compliance Status — Contingency Reserve FY2027 in compliance.
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FY2027 Annual Bud et GEORGETOWN
b. A debt service reserve equal to 1x the upcoming debt service payment for existing debt (example
- FY2020 reserve = FY2021 debt payment before new sale).
Compliance Status — Debt Service Reserve FY2027 in compliance.
10. Environmental Services Fund —The Environmental Services Fund will maintain the following reserves
and assign them on the balance sheet:
A minimum ninety (90) days or 25% of operating expenses, will be reserved in fund balance.
These funds are designated to be used to offset any potential revenue shortfall that occurs
during the fiscal year.
Compliance Status — Contingency Reserve FY2027 in partial compliance. It will take several years to
build up this reserve through cost of service rate increases.
d. A debt service reserve equal to 1x the upcoming debt service payment for existing debt (example
- FY2020 reserve = FY2021 debt payment before new sale).
Compliance Status — Debt Service Reserve FY2027 in compliance.
11. Electric Fund_ —The Electric Fund will maintain the following reserves and assign them on the balance
sheet:
a. Operations Contingency Reserve — A minimum ninety (90) days or 25% of operating expenses,
designated for unexpected or emergency use during the fiscal year. This reserve excludes
purchased power expenses. This reserve includes labor expenses for capital projects. The
targeted reserve amount is 120 days, and the maximum amount is 365 days.
Compliance Status — Operating Contingency reserve FY2027 in compliance.
b. Rate Stabilization Reserve — An amount to adequately mitigate the financial risks posed by the
wholesale power market, with a target of 4 months (120 days) of the average monthly purchased
power costs for the budgeted year. The purpose of this reserve is to protect against energy
market exposure and volatility, and to maintain wholesale power contracts and stability until
expenses are recovered through revenue generated in the Power Cost Adjustment Factor.
Compliance Status — Rate stabilization reserve FY2027 in compliance.
c. Non -Operating Contingency Reserve —to maintain continuity and begin recovery process from
a natural disaster during the lag time of revenue recovery:
1% of historical rate base (total capital assets net of accumulated depreciation)
A minimum of 25% of the current year CIP for Ordinary Replacement
• At least 50% of annual debt service payment
Compliance Status — Non -operating reserve FY2027 in compliance.
d. Uses of Unanticipated and Unappropriated Electric Fund Balances — In the event that fund
balance in the Electric Fund exceeds recommended minimum cash as enumerated in the above
reserves, the funds may be used for the following purposes as approved by the City Council:
• Reduce the Power Cost Adjustment
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• Reduce outstanding utility debt
• Fund capital projects
• Fund other one-time projects or equipment
• Increase reserves
12. Airport Fund —The Airport Fund will maintain the following reserves and assign them on the balance
sheet:
a. A contingency reserve of ninety (90) days of operating expenses will be maintained in the fund for
unforeseen or emergency expenditures. The reserve will represent all operating expenses minus
fuel costs and any transfers.
Compliance Status — Contingency Reserve FY2027 in compliance.
b. A debt service reserve equal to 1x the upcoming debt service payment for existing debt (example
- FY2020 reserve = FY2021 debt payment before new sale).
Compliance Status — Debt Service Reserve FY2027 in compliance.
13. GEDCO Fund —
a. A contingency reserve equal to 25% of budgeted sales tax revenue.
Compliance Status — Contingency Reserve FY2027 in compliance.
b. A debt service reserve equal to 1x the upcoming debt service payment for existing debt (example
- FY2020 reserve = FY2021 debt payment before new sale).
Compliance Status — Debt Service Reserve FY2027 in compliance.
14. GTEC Fund —
a. A contingency reserve equal to 25% of budgeted sales tax revenue.
Compliance Status — Contingency Reserve FY2027 in compliance.
b. A debt service reserve equal to 1x the upcoming debt service payment for existing debt (example
- FY2020 reserve = FY2021 debt payment before new sale).
Compliance Status — Debt Service Reserve FY2027 in compliance.
15. Rivery TIRZ Fund — A debt service reserve equal to 1x the upcoming debt service payment for existing
debt (example - FY2020 reserve = FY2021 debt payment before new sale).
Compliance Status — Debt Service Reserve FY2027 in compliance.
16. Downtown TIRZ Fund — A debt service reserve equal to 1x the upcoming debt service payment for
existing debt (example - FY2020 reserve = FY2021 debt payment before new sale).
Compliance Status — Debt Service Reserve FY2027 in compliance.
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FY2027 Annual Bud et GEORGETOWN
17. General Debt Service Fund —A reserve equal to 30 days of the prior annual debt service requirement,
in accordance with IRS guidelines.
Compliance Status — Debt Fund Reserve FY2027 in compliance.
For all other funds, the fund balance is an indication of the balance of each particular fund at a specific time.
The ultimate goal of each such fund is to have expended the fund balance at the conclusion of the activity
for which the fund was established.
Reserve requirements will be calculated as part of the annual budget process and any additional required
funds to be added to the reserve balances will be appropriated within the budget.
Funds in excess of the minimum reserves within each fund may be expended for City purposes at the will of
the City Council once it has been determined that use of the excess will not endanger reserve requirements
in future years. This action requires an amendment to the City's Annual Budget and is outlined in Section M.
J. Use of Unanticipated and Unappropriated General Fund Balances.
B. Liabilities and Receivables — Procedures will be followed to maximize discounts and reduce penalties offered
by creditors. Current liabilities will be paid within 30 days of receiving the invoice. Accounts Receivable
procedures will target collection for a maximum of 60 days of service. The Chief Financial Officer is
authorized to write-off non -collectible, non -utility accounts that are delinquent for more than 180 days, and
utility accounts delinquent more than 180 days, provided proper delinquency procedures have been
followed, and include this information in the Annual Financial Report to the City Council.
C. Capital Protect Funds — Every effort will be made for all monies within the Capital Project Funds to be
expended in a timely manner, preferably within thirty-six (36) months of receipt. Due to the long timeline of
some projects, unused cash or bond proceeds will be reserved on the fund schedule and appropriated when
needed. The fund balance will be invested, and income generated will offset increases in construction costs
or other costs associated with the project. Capital project funds are intended to be expended totally, with
any unexpected excess to be approved for use according to the bond covenant and opinion of bond counsel.
D. Investment of Reserve Funds — The reserve funds will be invested in accordance with the City's investment
policy.
Ratios Analysis — Ratios and significant balances will be incorporated into the annual bond rating book for
the Electric and Water Funds. The following ratios/balances will be used as key financial indicators:
• Revenue Bond Covenant Debt Coverage Ratio
• Rating Agency Days Cash on Hand
• Rating Agency Fixed Cost Coverage Ratio / Coverage of Full Obligations
• Rating Agency Leverage Ratio
The City will develop minimum/maximum levels for the above ratios/balances through analyzing of City
historical trends and future projections as part of the cost of service and five-year forecast modeling
process.
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XVI. RISK MANAGEMENT AND INTERNAL CONTROLS
A. Written Procedures — Wherever possible, written procedures will be established and maintained by the Chief
Financial Officer for all functions involving cash handling and/or accounting throughout the City. These
procedures will embrace the general concepts of fiscal responsibility set forth in this policy statement.
B. Internal Audit Program —An internal audit program will be maintained by the Chief Financial Officer to ensure
compliance with City policies and procedures and to prevent the potential for fraud.
1. Departmental Audits— departmental processes will be reviewed to ensure dual control of City assets
and identify the opportunity for fraud potential, as well as, to ensure that departmental internal
procedures are documented and updated as needed.
2. Employees or Transaction Review — Programs to be audited include Petty Cash, City Credit Card
accounts, time entry, and travel. All discrepancies will be identified, and the employee's Director
will be notified. The City Manager will also be notified depending on the seriousness of the
infraction.
3. Fraud Awareness and Reporting — The City will maintain its personnel policy regarding fraud. They
will maintain an arrangement with a third party for anonymous reporting of fraud, waste, or abuse
of City resources. The City will provide training to all City employees on recognizing and reporting
fraud.
4. The Chief Financial Officer and City Manager will present an annual audit plan to the Audit and
Finance Sub -Committee. Results of all internal audits will be provided to the Sub -Committee and City
Council at year-end.
C. Directors Responsibility — Each Director is responsible for ensuring that good internal controls are followed
throughout their department, that all Finance Division directives are implemented and that all independent
auditor internal control recommendations are addressed. Departments will develop and periodically update
written internal control procedures.
D. Cybersecurity—The Information Technology department shall regularly assess new forms of security risk and
maintain multiple layers of protections and controls to thwart cyber attacks. The City will provide regular
cybersecurity awareness training for all employees.
E. Electric Utility Risk —Chapter 13.38 of the City's Code of Ordinances establishes Council's authority to oversee
all risk of the Electric utility including Congestion Revenue Rights auctions, wholesale power agreements,
futures contracts, and other transactions that expose the City to significant risk.
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