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HomeMy WebLinkAboutAgenda CC 09.14.2021 WorkshopN otice of M eeting of the Governing B ody of the C ity of Georgetown, Texas S eptember 1 4, 2 02 1 The Georgetown City Council will meet on September 14, 2021 at 2:00 P M at City Council Chambers, 510 W 9th Street Georgetown, TX 78626 The City of Georgetown is committed to compliance with the Americans with Disabilities Act (AD A). If you require assistance in participating at a public meeting due to a disability, as defined under the AD A, reasonable assistance, adaptations, or accommodations will be provided upon request. P lease contact the City Secretary's Office, at least three (3) days prior to the scheduled meeting date, at (512) 930-3652 or City Hall at 808 Martin Luther King J r. Street, Georgetown, TX 78626 for additional information; TTY users route through Relay Texas at 711. This Agenda was Revised on 9.10.2021 at 10:00 am to reorder the items. Policy De ve lopme nt/Re vie w Workshop - A The Georgetown City Council is now meeting in person. A quorum of the City Council will be in attendance at the Georgetown City Council Chambers located at 510 W 9th Street Georgetown, TX 78626. It is possible that one or more Council members may attend via video Conference using the Zoom client. Face masks are encouraged when attending in-person. Use of profanity, threatening language, slanderous remarks or threats of harm are not allowed and will result in you being immediately removed from the meeting. If you have questions or need assistance, please contact the City Secretary’s office at cs@georgetown.org or at 512-930-3651. B On a subject that is posted on this agenda: P lease fill out a speaker registration form which can be found on the table at the entrance to the Council Chamber. Clearly print your name and the letter of the item on which you wish to speak and present it to the City Secretary on the dais, prior to the start of the meeting. You will be called forward to speak when the Council considers that item. Only persons who have delivered the speaker form prior to the meeting being called to order may speak. Speakers will be allowed up to three minutes to speak. If you wish to speak for six minutes, it is permissible to use another requestor ’s granted time to speak. No more than six minutes for a speaker may be granted. The requestor granting time to another speaker must also submit a form and be present at the meeting. On a subject not posted on the agenda: An individual may address the Council at a regular City Council meeting by contacting the City Secretary no later than noon on the Wednesday prior to the Tuesday meeting, with the individual's name and a brief description of the subject to be addressed. Only those persons who have submitted a timely request will be allowed to speak. Speakers will be given up to three minutes to address the City Council. The City Secretary can be reached at (512) 931-7715 or cs@georgetown.org At the time of posting, no one signed up to speak. Page 1 of 144 C P resentation, update and discussion on the redistricting process - Skye Masson, City Attorney and Cobby Caputo, Bickerstaff Heath Delgado D P resentation and discussion of the quarterly financial report for the quarter ended J une 30, 2021 - - Nathan P arras, Assistant Finance Director E A presentation and discussion on the City’s internal and external audit program – Leigh Wallace, Finance Director and Elaine Wilson, Assistant Finance Director Exe cutive Se ssion In compliance with the Open Meetings Act, Chapter 551, Government Code, Vernon's Texas Codes, Annotated, the items listed below will be discussed in closed session and are subject to action in the regular session. F In compliance with the Open Meetings Act, Chapter 551, Government Code, Vernon’s Texas Codes, Annotated, the items listed below will be discussed in closed session and are subject to action in the regular session. Sec. 551.071: Consul tati on w i th Attorney Advice from attorney abo ut pending or contemplated litigation and o ther matters on which the attorney has a duty to advise the City Council, including agenda items. - Litigation U pdate - Texas Opioid Abatement Fund C ouncil and S ettlement Allocation Term Sheet - G eorgetown Salamander U pdated N F W S Final R uling Sec. 551.072: Del i berati ons about Real P roperty - B erry C reek I nterceptor P hases 1-3, P arcel 4 (D odge) – Jim K achelmeyer, Assistant City Attorney - Berry C reek I nterceptor P hases 1-3, P arcel 8 (R ussell) – J im K achelmeyer, Assistant City Attorney Sec. 551.086: Certai n P ubl i c P ow er Uti l i ti es: Competi ti ve M atters - P urchased P ower Update Sec. 551.087: Del i berati on Regardi ng Economi c Devel opment Negoti ati ons - P roject F lex P ower - P roject T riangle Sec. 551.074: P ersonnel Matters - C ity M anager Adjournme nt Ce rtificate of Posting I, R obyn Densmore, C ity S ecretary for the C ity of G eorgetown, Texas, do hereby c ertify that this Notice of Meeting was pos ted at C ity Hall, 808 Martin Luther King Jr. S treet, G eorgetown, T X 78626, a plac e readily ac cessible to the general public as required by law, on the _____ day of _________________, 2021, at __________, and remained so pos ted for at leas t 72 c ontinuous hours prec eding the s cheduled time of said meeting. __________________________________ R obyn Dens more, C ity S ec retary Page 2 of 144 City of Georgetown, Texas City Council Workshop September 14, 2021 S UBJEC T: P resentation, update and discussion on the redistricting process - Skye Masson, City Attorney and Cobby Caputo, Bickerstaff Heath Delgado I T EM S UMMARY: Staff from Bickerstaff Heath Delgado, the law firm City Council selected to provide professional services related to redistricting, will provide an overview of the redistricting process and legal requirements applicable to redistricting. Redistricting occurs to balance city council districts after the Census and will be completed by the end of the calendar year. F I NANC I AL I MPAC T: N A S UBMI T T ED BY: Mayra Cantu, Assistant to the City Manager Page 3 of 144 City of Georgetown, Texas City Council Workshop September 14, 2021 S UBJEC T: P resentation and disc ussio n of the quarterly financial report fo r the quarter ended J une 30, 2 02 1 -- Nathan P arras, Assistant Finance Director I T EM S UMMARY: The Quarterly Financial Report to Council is attached. An executive summary is included to highlight variances with regards to the revenues, expenses, and an overview of the investment portfolio as of J une 30, 2021. For all major funds, the Financial Report shows a comparison of current year to date revenues and expenses compared to the budget and year- end projections, as well as compared to the same quarter in the prior year. In general, all of the City’s major funds are tracking well compared to the F Y2021 budget. The report also includes updates on capital projects, a summary of active grants and the list of Unfunded Liabilities. C O M M E N TS: The investment activity and strategies described in the investment repo rt are in compliance with the City’s Investment P olicy and state law. This report meets the quarterly re porting requirements mandate d by the P ublic Funds Investment Act. F I NANC I AL I MPAC T: . S UBMI T T ED BY: Sharon P arker AT TAC HMENT S : Description 3rd Q tr R eport 2021 Q uarterly P res entation Page 4 of 144 FY2021 BUDGET AND 5 YEAR CAPITAL IMPROVEMENT PLAN Page 5 of 144 FINANCIAL REPORT AND INVESTMENT REPORT For the Quarter Ended June 30, 2021 Table of Contents Executive Summary .................................................................................................................................. 1-23 General Fund Schedule .......................................................................................................................... 24-25 Electric Fund Schedule ................................................................................................................................ 26 Water Services Fund Schedule .................................................................................................................... 27 Joint Services Fund Schedule ....................................................................................................................... 28 Council Discretionary Fund Schedule .......................................................................................................... 29 Tourism Fund Schedule ............................................................................................................................... 30 Airport Fund Schedule ................................................................................................................................. 31 Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 32 Georgetown Economic Development Corporation Fund Schedule ............................................................. 33 Quarterly Investment Report - City ........................................................................................................ 34-57 Quarterly Investment Report - GEDCO ................................................................................................... 58-63 Quarterly Investment Report - GTEC ...................................................................................................... 64-69 Grant Applications ....................................................................................................................................... 70 Capital Improvement Projects ................................................................................................................ 71-74 Long-term Commitments and Other Unfunded Liabilities ..................................................................... 75-79 Page 6 of 144   F FY2021 Quarterly Report  EXECUTIVE SUMMARY FOR THE QUARTER ENDED JUN. 30, 2021 I. QUARTERLY FINANCIAL ANALYSIS    Each year, the City amends the budget for multi‐year capital projects, as well as operational changes that were  unknown at the time the budget was adopted.  The Third Quarter Report Approved Budget includes Capital Project  Roll  Forward  and  Operational  Amendments  Approved  by  Council  in January  2021,  and  the  Mid‐year  Budget  Amendment Approved in June 2021. The February Winter Storm Uri had a large impact on expenses for the second  quarter. Council approved amendments related to the storm during a formal budget amendment in June 2021.  Furthermore, this report compares actuals to budget, and compared to the performance of actuals in the same  quarter in the previous year.  The third quarter report also includes a comparison of year‐to‐date actuals to year‐end  projections. Due to the timing of the COVID‐19 pandemic starting in the second quarter of last year, the quarter‐to‐ quarter comparisons may in some cases stand out. However, many of these increases or decreases were expected  during the 2021 budget planning process and are generally not a concern.     GENERAL FUND REVENUES:  General Fund revenues total $67,483,595, or 81.10% of budget through this quarter of FY2021. Revenues exceed last  year’s same quarter total by $8,858,512, or 15.11%. The difference between the same period last year is primarily  driven by increases in building permits, continued growth in sales tax, as well as one‐time master development  contributions. Municipal Court fines and Interest Income are both decreased compared to the same period last year  due to the pandemic circumstances.  General Fund         Quarterly Comparison: Q3  FY2021 Budget FY2020 FY2021  FY2021 Year‐to‐date Vs.  Budget Quarterly Comparison   FY2021 YTD Actuals:  Q3 FY2020  YTD Actuals:  Q3 FY2021 Variance % of Budget Variance % Variance  Revenue         40001:Property Taxes  15,976,505     15,405,838    16,323,813     347,308   102.17%  917,976   5.96% 40002:Sales Taxes  18,576,250     10,566,870    13,162,725     (5,413,525) 70.86%  2,595,855   24.57% 40005:Franchise Taxes  6,255,270     3,834,807    4,139,137     (2,116,133) 66.17%  304,330   7.94% 40008:Other Taxes  400,000     323,051    150,932     (249,068) 37.73%  (172,120) ‐53.28% 41001:Fines  328,392     240,206    188,560     (139,832) 57.42%  (51,647) ‐21.50% 41002:Penalties  60,000     42,505    74,664     14,664   124.44%  32,160   75.66% 42001:Interest Income  75,000     206,539    67,253     (7,747) 89.67%  (139,286) ‐67.44% 43001:Fees  7,028,184     5,333,958    5,349,312     (1,678,872) 76.11%  15,354   0.29% 43002:Garbage Charges  10,151,764     7,545,373    8,099,881     (2,051,883) 79.79%  554,508   7.35% 43003:Permits  4,317,750     2,411,498    3,927,014     (390,736) 90.95%  1,515,516   62.85% 43004:Administrative  Charges  3,396,447     2,038,298    2,544,376     (852,071) 74.91%  506,078   24.83% 43005:Rental Revenue  148,140     94,423    148,231     91   100.06%  53,808   56.99% 45001:Misc Revenue  871,955     109,953    663,347     (208,608) 76.08%  553,393   503.30% 45003:Misc Reimbursements  ‐   872    9,954     9,954   0.00%  9,082   1041.49% 44001:Grant Revenue  679,884     696,387    498,073     (181,811) 73.26%  (198,314) ‐28.48% 44501:Contribution Revenue  ‐   150,000    ‐   ‐ 0.00%  (150,000) ‐100.00% 44502:Developer  Contributions  423,112     3,217    423,328     216   100.05%  420,111   13060.36% 44503:Interlocal Agreement  Revenue  5,091,091     3,098,504    3,896,283     (1,194,808) 76.53%  797,780   25.75% 44504:Donations  ‐   875    ‐   ‐ 0.00%  (875) ‐100.00% 70001:Transfers In  995,302     303,634    995,302     ‐ 100.00%  691,668   227.80% 70002:Transfers In ‐ Payment  in Lieu of Taxes (PILOT)  8,431,375     6,218,276    6,821,411     (1,609,964) 80.91%  603,135   9.70% Revenue Total  83,206,421    58,625,083    67,483,595    (15,722,826) 81.10%  8,858,512   15.11%     1Page 7 of 144   F FY2021 Quarterly Report    Sales tax revenue accounts for $18,576,250 or 70.86%  of the budget.  The City has collected $13,162,725 of  year‐to‐date revenues in the General Fund through the  third quarter. Sales tax data lags two months in arrears.  Sales tax continues to have a strong performance ‐ the  quarterly returns for sales tax were 24.57% higher  compared to the same period last year. The increase in  sales tax revenue is the result of continued growth in the  City’s  core  sales  tax  sectors  of  retail,  food,  and  information,  in  combination  with  new  businesses  coming online. Additionally, March of 2020 was the start  of  the  pandemic  resulting  in  dampened  sales  taxes  beginning in that period.    Property tax revenues are the second largest revenue  segment in the General Fund and has a budget of $15,976,505. Property tax revenue is typically received during the  first two quarters of the fiscal year, with most of the taxes collected in December and January. Through the quarter,  property tax year‐to‐date collections total 102.17% of budget, or $16,323,813. Year‐to‐date property tax revenues  are 5.96% higher than the same period last year.      The City collects franchise fees for electric, natural gas, cable, and non‐cellular telephone services. Through the  quarter, franchise fee revenues total $4,139,137 in FY2021, or 66.17% of budget. Franchise fee revenue is 7.94%  higher than the second quarter of FY2020.    Payment in Lieu of Taxes (PILOT) revenue from City‐owned utilities is budgeted at $8,431,375. Year‐to‐date, PILOT  revenues total $6,821,411, or 80.91% of budget. PILOT revenue is $603,135, or 9.70% higher than the third quarter  of FY2020.     Planning and Development related revenue continues to be strong in FY2021. Planning and Development has a total  revenue budget of $6,922,437.  Through the quarter, planning and development reported revenues total $5,608,544  or 81.02% of budget. Permit fees are up 18.01%, or $257,278 compared to the same quarter in FY2020.  Development  related permits continue to be strong with year‐to‐date revenues are up 62.70%, or $1,511,573 compared to year‐ to‐date from FY2020.  Staff continues to monitor the amount of residential building permits. The following graph  shows the number of residential building permits issued by quarter for the past 3 years.    K 1.0M 2.0M 3.0M 4.0M 5.0M 6.0M Q1 Q2 Q3 GENERAL FUND: SALES TAX FY2019  FY2020  FY2021 276 311 369370 537 469  682 665 589  ‐  200  400  600 Q1 Q2 Q3 Residential Building Permits FY2019 FY2020 FY2021 2Page 8 of 144   F FY2021 Quarterly Report  Sanitation revenue budget totals $10,989,969. Through the quarter year to date revenues from sanitation are  $8,584,921, or 78.12% of budget. Sanitation rates increased as part of the FY2021 budget to support demand for  service as well as to support the debt service for a new transfer station. The variance between the same period last  year is $997,044, or 13.14%.     Fire and EMS total budgeted revenue is $8,012,095. Through the quarter, fire and EMS fee related revenue totals  $5,930,963, or 74.03% of budget. Additional Fire/EMS revenue is comprised of the Interlocal Agreement Emergency  Services District 8 contract for service, as well as public safety grants such as the SAFER grant.     Parks and Recreation fee revenue budget totals $1,893,234. Through the quarter, parks and recreation related fee  revenue totals $1,352,160, or 71.42% of budget. Parks and Recreation revenue is up 8.56% compared to FY2020. The  Parks and Recreation department has seen an increase in revenue compared to FY2020 as programming continues  to increase to pre COVID levels.      FY2021 REVENUE PROJECTIONS:    General Fund  Quarterly Comparison: Q3  FY2021 Budget FY2021  Year‐End: Projections Vs.  Actuals Year‐End: Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections   FY2021  Variance  Fav/(Unfav)  % of  Projection  Revenue         40001:Property Taxes  15,976,505    16,323,813    347,308   102.17%  15,996,505    327,309   102.05% 40002:Sales Taxes  18,576,250    13,162,725    (5,413,525) 70.86%  22,924,375    (9,761,650) 57.42% 40005:Franchise Taxes  6,255,270    4,139,137    (2,116,133) 66.17%   6,182,563    (2,043,426) 66.95% 40008:Other Taxes  400,000    150,932    (249,068) 37.73%   410,000    (259,068) 36.81% 41001:Fines  328,392    188,560    (139,832) 57.42%   290,600    (102,040) 64.89% 41002:Penalties  60,000    74,664    14,664   124.44%   70,000    4,665   106.66% 42001:Interest Income  75,000    67,253    (7,747) 89.67%   87,429    (20,176) 76.92% 43001:Fees  7,028,184    5,349,312    (1,678,872) 76.11%   6,876,306    (1,526,994) 77.79% 43002:Garbage Charges  10,151,764    8,099,881    (2,051,883) 79.79%  10,300,000    (2,200,120) 78.64% 43003:Permits  4,317,750    3,927,014    (390,736) 90.95%   4,880,250    (953,237)80.47% 43004:Administrative  Charges  3,396,447    2,544,376    (852,071) 74.91%   3,396,447    (852,071)74.91% 43005:Rental Revenue  148,140    148,231    91   100.06%   125,947    22,284   117.69% 45001:Misc Revenue  871,955    663,347    (208,608) 76.08%   804,049    (140,702) 82.50% 45003:Misc  Reimbursements  ‐  9,954    9,954   0.00%   ‐  9,954   0.00% 44001:Grant Revenue  679,884    498,073    (181,811) 73.26%   500,000    (1,927) 99.61% 44501:Contribution  Revenue  ‐  ‐  ‐ 0.00%   ‐  ‐ 0.00% 44502:Developer  Contributions  423,112    423,328    216   100.05%   423,332    (4) 100.00% 44503:Interlocal  Agreement Revenue  5,091,091    3,896,283    (1,194,808) 76.53%   5,091,092    (1,194,808) 76.53% 44504:Donations  ‐  ‐  ‐ 0.00%   ‐  ‐ 0.00% 70001:Transfers In  995,302    995,302    ‐ 100.00%   995,302    ‐ 100.00% 70002:Transfers In ‐  Payment in Lieu of Taxes  (PILOT)  8,431,375    6,821,411    (1,609,964) 80.91%   8,460,467    (1,639,056) 80.63% Revenue Total  83,206,421    67,483,595    (15,722,826) 81.10%  87,814,662    (20,331,067) 76.85%     3Page 9 of 144   F FY2021 Quarterly Report  Staff will monitor FY2021 projections as the end of the fiscal year approaches.  Total revenues are projected to end  FY2021 at $87,814,662.  Through the quarter, actuals are 76.85% of total projections.    GENERAL FUND EXPENSES:  Annual expenses through the quarter total $58,118,749, or 70.04%% of budget. This is an increase 5.49% compared  to the same period last year. The increase is driven by an increases in operational expense such as internal service  allocations, and timing of transfers.  Additionally, increase in expense compared to the same period last year is due  to COVID and the winter storm and the general delay those events caused in entering into various consulting services  contracts. Merit and market adjustments for personnel expenses are also a factor in the increase spending compared  to last year.            Personnel and Operations Summary  Personnel costs through the quarter total $32,918,253, or 72.00% of personnel budget. Operational costs total  $24,261,078, or 68.69%. The table below includes all expenditures in the General Fund. Capital costs can fluctuate  from year‐to‐year based on project, timing, and various other factors, primarily in the Streets cost center.    General Fund         Quarterly Comparison:  Q3 FY2021 Budget FY2020 FY2021  FY2021 Year‐to‐date Vs.  Budget Quarterly Comparison   FY2021 YTD Actuals:  Q3 FY2020  YTD Actuals:  Q3 FY2021 Variance % Of Budget Variance % Variance  Expense         Personnel  45,716,778    32,011,032    32,918,253    12,798,525   72.00%  (907,220) 2.83%  Operations  35,318,608    21,409,778    24,261,078    11,057,530   68.69%  (2,851,300) 13.32%  Operating Capital  295,103    1,376,506    162,247    132,856   54.98%  1,214,259   ‐88.21%  CIP Expense  ‐  (162,963)  17,780    (17,780) 0.00%  (180,742) ‐110.91%  Transfers  1,654,691    457,860    759,391    895,300   45.89%  (301,531) 65.86%  Total Expense  82,985,180    55,092,214    58,118,749    24,866,431   70.04%  (3,026,535) 5.49%    Many departments in the General Fund were impacted by the February winter storm. The public safety division and  public works division were impacted the most. As part of the FY2021 Mid‐Year Budget Amendment, staff proposed  additional appropriation to cover unforeseen overtime cost and operational costs related to the storm.    A complete list of cost center, budget, actuals, and projections is attached as part of supplemental information to  this report.    Personnel and Operations Summary by Division:    DEVELOPMENT SERVICES DIVISION:  Through the third quarter Planning has reported expenses totaling $1,418,015 or 71.69% of budget.     Inspections incurred personnel and operational expenses amounting to $1,020,369 or 65.92% of budget.     Year‐to‐date personnel and operational expenditures for Community Services are as follows, Community Services  main cost center has a total of $299,353, or 84.59% of budget, through the third quarter, Animal Services has  reported $680,417 which is 61.48% of their budget, Code Compliance has shown spending of $359,031, or 63.80%  of  budget.    Animal  Services  and  Code  Compliance  had  vacancies  throughout  the  year,  resulting  in  less  than  anticipated expenses.    4Page 10 of 144   F FY2021 Quarterly Report  Environmental Services incurred personnel and operational expenditures amounting to $6,169,598 or 63.85% of  budget.     Public Works personnel and operational expenditures for the quarter totals $1,342,077, which represents 78.67% of  budget. Year‐to‐date expenditures related to personnel and operations for Streets totals $2,200,644, 70.15% of  budget.   FINANCE ADMINISTRATION DIVISION:  Municipal Court year to date expenses total $404,922 or 69.20% of budget, this spending includes $382,807 for  personnel costs and $61,396 for operational costs.     POLICE OPERATIONS DIVISION:  Police Operations saw personnel and operational expenditures through the quarter totals $10,623,277 or 72.42% of  budget. Police Administration expenditures through the third quarter resulted in $1,800,323, or 70.11% of budget.    FIRE AND EMS DIVISION:  Year‐to‐date personnel and operational expenditures through the third quarter total $2,804,767 or 64.50% of budget  for Fire  Support  Services/Administration, $11,074,428  or  69.42%  of  budget  for Fire  Emergency  Services,  and  $2,121,645 or 82.22% of budget for Fire EMS.    ADMINISTRATIVE SERVICES DIVISION:  Administrative Services saw operational and personnel costs totaling $1,327,889 or 70.11% of budget year to date.     City Secretary personnel and operational expenditures for the quarter totals $747,475, which represents 74.02% of  budget. Year‐to‐date personnel and operational expenditures for Communications totals $538,499, which represents  63.76% of budget.   Non‐Departmental includes a transfer out of $767,545 or 46.39% of anticipated transfer expense for the year.  A  year‐end budget amendment is proposed to transfer $4,700,000 from the General Fund to the Council SRF.  The  transfer is to reserve one‐time available savings from FY2020 for future one‐time expenses as approved by the  Council.  This transfer is reflected in the FY2021 projections.    General Government Contracts includes budgeted vacancy savings estimates for all General Fund departments. Real  vacancy savings is realized in each cost center. The budgeted vacancy factor against year‐to‐date actuals in the  administrative division cost center drives the percent of budget up. Staff will adjust and forecast the vacancy factor  as part of the FY2021 projections.  Library, Tourism, and Arts and Culture Division:  Arts and Culture recognized year to date expenses totaling $40,250, or 69.57% of budget.  Library year to date  expenses total $2,017,601 or 71.09% of budget.      PARKS AND RECREATION DIVISION:  Year‐to‐date personnel and operations costs for Parks and Recreation within the following cost centers: Parks  Administrations, Parks, Garey Park, Recreation, and Recreation Programs, comes to a total of $6,009,783, or 66.44%  of budget.     Parks year‐to‐date through the quarter totals $1,968,099, or 72.16%.  Recreational Programs total expenses are  $600,565, which is 47.99% of budget.  Garey Park year‐to‐date is $674,123, or 68.65%.     5Page 11 of 144   F FY2021 Quarterly Report    Personnel and Operations Summary by Division:  General Fund         Quarterly Comparison: Q3 FY2021 Budget Actuals Budget Vs. Actuals  Year‐End:   Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections  2021  Variance  Fav/(Unfav)  % of  Projection  Development Services         Personnel   6,213,438    4,031,917    2,181,522   64.89%  5,824,965    1,793,048   69.22% Operations  13,812,057   9,442,651  4,369,407 68.37%  13,788,192    4,345,541  68.48% Operating Capital  29,789   26,421    3,368 88.69%  41,564    15,143   63.57% Development Services Total  Expense   20,055,285    13,500,989  6,554,296 67.32%  19,654,721    6,153,732  68.69%          Finance Administration         Personnel   484,734    347,942    34,866   71.78%  473,558    125,616   73.47% Operations  100,389    57,645    3,751   57.42%  83,151    25,506   69.33% Finance Administration Total  Expense   585,123    405,587    179,536   69.32%  556,709    151,122   72.85%          Police Operations         Personnel   12,961,182    9,599,396    3,361,786   74.06%  12,876,859    3,277,463   74.55% Operations  4,198,668    2,808,197    1,390,471   66.88%  4,120,724    1,312,527   68.15% Operating Capital  77,104    16,007    61,097   20.76%  77,104    61,097   20.76% Police Operations Total Expense   17,236,954    12,423,600    4,813,354   72.08%  17,074,687    4,651,088   72.76%          Fire and EMS         Personnel  18,120,403    12,632,719    5,487,684   69.72%  18,215,389    5,582,670   69.35% Operations  4,599,221    3,272,157  1,327,064 71.15%  4,443,242    1,171,086  73.64% Operating Capital  162,899    111,949  50,950 68.72%  162,470    50,521  68.90% Fire and EMS Total Expense   22,882,523    16,016,824    6,865,699   70.00%  22,821,101    6,804,277   70.18%          Administrative Services         Personnel   1,326,001    1,890,745    (564,744) 142.59%  2,315,816    425,071   81.64% Operations  7,382,852    5,051,051    2,331,801   68.42%  7,144,768    2,093,716   70.70% Transfers  1,654,691    759,391    895,300   45.89%  6,354,691    5,595,300   11.95% Administrative Services Total  Expense   10,363,544    7,701,187    2,662,357   74.31%  15,815,274    8,114,087   48.69%          Library, Tourism, and Arts and  Culture         Personnel   1,798,754    1,236,657    562,097   68.75%  1,828,761    592,103   67.62% Operations  1,072,007    816,162    255,845   76.13%  1,074,019    257,858   75.99% Operating Capital  25,000    7,960    17,040   31.84%  7,960   ‐ 100.00% Library, Tourism, and Arts and  Culture Total Expense   2,895,761    2,060,779    834,982   71.17%  2,910,740    849,961   70.80%          Parks and Recreation         Personnel   4,812,266    3,178,877    1,633,389   66.06%  4,735,425    1,556,548   67.13% Operations  4,153,414    2,813,216    1,340,198   67.73%  3,908,685    1,095,470   71.97% Operating Capital  311    (89)  400   ‐28.69% ‐  89   0.00% CIP Expense  ‐  17,780    (17,780) 0.00% ‐  (17,780) 0.00% Parks and Recreation Total  Expense   8,965,991    6,009,783    2,956,208   67.03%  8,644,110    2,634,327   69.52%          General Fund Total  82,985,180    58,118,749  24,866,431 70.04%  87,477,342    29,358,593  66.44%     6Page 12 of 144   F FY2021 Quarterly Report    FY2021 EXPENSE PROJECTIONS:  Staff will monitor FY2021 projections as the end of the fiscal year approaches.  Total expenses are projected to end  FY2021 at $87,477,342.  Through the quarter, actual expenses are 66.44% of total projections.    Overall, General Fund expenditures are within budget and the fund can cover the 90‐day Contingency Reserve  Economic Stability Reserve and the Benefit Payout Reserve. Additional available balances were used to cover costs  of the winter storm during the third quarter budget amendment. The FEMA reimbursement application for the storm  is in progress.  Timing of approval and reimbursement are not known at this time.      7Page 13 of 144   F FY2021 Quarterly Report    UTILITY FUNDS:    Electric Fund: The City has used multiple strategies in the past two years to improve the performance of the Electric  Fund in relation to past and current expenditures for purchased power contracts. These strategies include increasing  the Power Cost Adjustment rate to recover revenue, reducing operating and capital expenditures in the electric  utility, selling utility assets, hiring a new General Manager, contracting professional services for energy portfolio  management and risk oversight. These have resulted in improved financial performance of the fund. To improve rate  competitiveness for customers, the City lowered the Power Cost Adjustment in January of 2021 by 1 cent per kWh,  to 1.375 cents per kWh. This resulted in a $5 million decrease in Electric Revenue as part of the FY2021 Amended  budget in January and is reflected in this report.    Many departments in the utility funds were impacted by the winter storm. The Electric and Water fund incurred  significant increases in overtime, operations, and equipment needs/replacement. As part of the FY2021 Mid‐Year  Budget Amendment City Council has approved additional appropriation to cover unforeseen costs associated with  the winter storm. As part of the FY2022 budget development process, the utilities are reviewing various initiatives to  improve resiliency to extreme weather, including those required by legislation.     ELECTRIC REVENUE:    Operating revenue in the Electric Fund totals $67,604,303 through the quarter, or 78.04% of budget. Electric sales  revenue, the largest component of operating revenue, has brought in $56,509,322 through the third quarter, totaling  71.55% of Electric Sales revenue budget. Electric revenue sales are typically higher in the summer months when  consumption  increases.  Developer  contributions  were  conservatively  budgeted  at  $1,500,000.  Year‐to‐date  collection total $5,964,069, or 397.60% of budget.  Electric Services         Quarterly Comparison: Q3  FY2021 Budget FY2020 FY2021  FY2021 Year‐to‐date  Actuals Vs. Budget Quarterly Comparison   FY2021 YTD Actuals:  Q3 FY2020  YTD Actuals:  Q3 FY2021 Variance % of Budget Variance % Variance  Operating Revenue         40002:Sales Taxes  5,000    4,774    3,966    (1,034) 79.33%   (807) ‐16.91% 40005:Franchise Taxes  115,732    ‐  ‐  (115,732) 0.00%   ‐ 0.00% 41002:Penalties  553,724    294,804    596,358    42,634   107.70%   301,555   102.29% 42001:Interest Income  5,000    5,968    27,265    22,265   545.30%   21,296   356.82% 43001:Fees  685,000    506,519    707,437    22,437   103.28%   200,918   39.67% 43004:Administrative  Charges  3,222,103    1,596,309    2,416,577    (805,526) 75.00%   820,268  51.39% 43601:Electric Charges  78,982,278    59,388,829    56,509,322    (22,472,956) 71.55%   (2,879,507) ‐4.85% 44502:Developer  Contributions  1,500,000    2,475,250    5,964,069    4,464,069   397.60%   3,488,820   140.95% 70001:Transfers In  1,562,058    ‐  1,379,308    (182,750) 88.30%   1,379,308   0.00% Operating Revenue Total   86,630,895    64,272,453    67,604,303   (19,026,592) 78.04%  3,331,850    5.18%          Non‐Operating Revenue         45001:Misc Revenue  35,000    174,891    270,081    235,081   771.66%   95,189   54.43% 45004:Sale of Property  10,000    614,335    1,038,936    1,028,936   10389.36%   424,601  69.12% 46001:Bond Proceeds  54,648,625    5,055,000    54,065,000    (583,625) 98.93%  49,010,000   969.54% 46002:Bond Premium  ‐  ‐  652,424    652,424   0.00%   652,424   0.00% Non‐Operating Revenue  Total   54,693,625    5,844,226    56,026,441    1,332,816   102.44% 50,182,215    858.66%          Revenue Total  141,324,520    70,116,679    123,630,744    (17,693,776) 87.48%  53,514,065   76.32% 8Page 14 of 144   F FY2021 Quarterly Report    The  budget  for non‐operating  revenue totals  $54,693,625  in  FY2021.  The  city  has  recognized  revenues  of  $54,065,000  in  bond  proceed  revenues  through the third quarter. Year‐to‐date non‐operating  revenues are above the third quarter of FY2020, mainly  driven  by  the  debt  issuance  from  the  winter  storm  extreme energy costs.    FY2021 REVENUE PROJECTIONS:  Staff will monitor FY2021 projections as the end of the  fiscal year approaches.  Total operating revenues are  projected to end $91,408,444.  The largest component  of operating revenue is electric sales revenue, which is  projected  to  end  the  year  at  $79,081,809.    Despite  healthy customer growth, staff anticipates Electric Sales  revenue to be weaker than the FY2021 budget due to June, July, and early August having milder than usual weather.        Through the quarter, actuals make up 73.96% of total operating revenue projections. Total non‐operating revenues  are projected to end FY2021 at $57,477,051.  This includes $2,500,000 of renewable energy credits (REC) accounted  for in Sale of Property.  The City continues to sell RECs in the market when advantageous. Through the quarter,  actuals are 97.48% of total non‐operating projections.  Electric Services         Quarterly Comparison: Q3  FY2021 Budget FY2021  FY2021 Year‐to‐date  Actuals Vs. Budget Year‐End: Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of  Budget  Projections  FY2021  Variance  Fav/(Unfav) % Variance  Operating Revenue         40002:Sales Taxes  5,000    3,966    (1,034)  79.33%  5,000    (1,034) 79.33% 40005:Franchise Taxes  115,732    ‐  (115,732)  0.00%  ‐  ‐ 0.00% 41002:Penalties  553,724    596,358    42,634    107.70%  547,759    48,599   108.87% 42001:Interest Income  5,000    27,265    22,265    545.30%  20,828    6,437   130.90% 43001:Fees  685,000    707,437    22,437    103.28%  868,887    (161,450) 81.42% 43004:Administrative  Charges  3,222,103    2,416,577    (805,526)  75.00%  3,222,103    (805,526)75.00% 43601:Electric Charges  78,982,278    56,509,322    (22,472,956)  71.55%  79,081,809    (22,572,487) 71.46% 44502:Developer  Contributions  1,500,000    5,964,069    4,464,069    397.60%  6,100,000    (135,930) 97.77% 70001:Transfers In  1,562,058    1,379,308    (182,750)  88.30%  1,562,058    (182,750)88.30% Operating Revenue Total   86,630,895    67,604,303    (19,026,592)78.04%  91,408,444    (23,804,141) 73.96%          Non‐Operating Revenue         45001:Misc Revenue  35,000    270,081    235,081    771.66%  233,023    37,058   115.90% 45004:Sale of Property  10,000    1,038,936    1,028,936    10389.36%  2,526,604    (1,487,668) 41.12% 46001:Bond Proceeds  54,648,625    54,065,000    (583,625)  98.93%  54,065,000    ‐ 100.00% 46002:Bond Premium  ‐  652,424    652,424    0.00%  652,424    0   100.00% Non‐Operating Revenue  Total   54,693,625    56,026,441    1,332,816   102.44%  57,477,051    (1,450,610) 97.48%          Revenue Total  141,324,520    123,630,744    (17,693,776)  87.48%  148,885,495    (25,254,751) 83.04%   K 5.0M 10.0M 15.0M 20.0M 25.0M Q1 Q2 Q3 ELECTRIC FUND: ELECTRIC SALES  REVENUE  FY2020  FY2021 9Page 15 of 144   F FY2021 Quarterly Report  ELECTRIC EXPENSES:  Operating expenses in the Electric Fund total $114,550,276 through the quarter. Year‐to‐date purchase power  expenses total $95,948,087, while net congestion revenue rights (CRRs) credits total $(30,183). This is due to  congestion in the grid, as well as the price spike in the cost of energy during the winter storm.    The polar vortex winter storm Uri caused significant disruption in the Texas energy market. This disruption led to  extreme price spikes in the cost of energy, and the City had a net obligation of approximately $48 million. The $48  million is beyond the City’s capacity to handle with current unrestricted reserves. For comparison, the annual cost of  energy is about $60 million. Therefore, the City has secured a Public Property Finance Contractual Obligation (PPFCO).  This is a tax‐backed obligation with a subordinate lien on Electric Utility revenues. The PPFCO has a 9.5‐year term,  with a 5‐year call option. This is a fixed rate bond (1.73% taxable) that was privately placed with Wells Fargo. It is  structured with level annual payments. The average annual principal and interest payment of $5,298,851 will be  repaid with Electric revenues from the City’s current Power Cost Adjustment of 1.375 per kWh.     In  addition  to  overtime  from  the  winter  storm,  personnel  costs in  Electric  Engineering  and  Transmission  and  Distribution (T&D) cost centers look inflated. This labor will be capitalized to the appropriate capital improvement  project at the end of the fiscal year, and therefore will be on budget at year‐end.    Electric Services         Quarterly Comparison: Q3  FY2021 Budget FY2020 FY2021  FY2021 Year‐to‐date  Actuals Vs. Budget Quarterly Comparison   FY2021 YTD Actuals:  Q3 FY2020  YTD Actuals:  Q3 FY2021 Variance % of  Budget Variance %  Variance  Operating Expense         City of Georgetown (Only)  ‐  252,201    ‐  ‐ 0.00%  252,201   ‐100.00% CC0001 Non‐Departmental  5,506,375    3,844,378    4,511,501    994,874   81.93%  (667,123) 17.35% CC0522 Electric  Administration  8,738,792    6,734,854    6,585,076    2,153,716   75.35%  149,778   ‐2.22% CC0525 T&D Services  3,122,421    2,983,497    3,101,351    21,070   99.33%  (117,854) 3.95% CC0526 Systems Engineering  ‐  871,258    65,095    (65,095) 0.00%  806,164   ‐92.53% CC0537 Electric Resource  Management  108,334,393    42,972,117    96,290,644    12,043,749   88.88% (53,318,527) 124.08% CC0555 Electric Systems  Operations  1,610,228    1,071,046    1,196,821    413,407   74.33%  (125,776) 11.74% CC0557 Electrical Engineering  663,952    767,009    762,545    (98,593) 114.85%  4,464   ‐0.58% CC0521 Electric Technical  Services  727,388    492,212    515,431    211,957   70.86%  (23,219) 4.72% CC0524 Metering Services  2,022,094    1,327,902    1,521,811    500,283   75.26%  (193,909) 14.60% CC0526 Systems Engineering  ‐  871,258    65,095    (65,095) 0.00%  806,164   ‐92.53% Operating Expense Total   130,725,643    61,316,475    114,550,276    16,175,367   87.63%(53,233,801) 86.82%          Non‐Operating Expense         CC0001 Non‐Departmental  4,375,805    638,596    875,370    3,500,435   20.00%  (236,774) 37.08% CC0557 Electrical Engineering  8,166,143    491,556    4,546,269    3,619,873   55.67%  (4,054,713)824.87% CC0526 Systems Engineering  ‐  1,030,860    2,550    (2,550) 0.00%  1,028,310   ‐99.75% Non‐Operating Expense Total   12,541,948    2,161,012    5,424,189    7,117,759   43.25%  (3,263,177) 151.00%          Expense Total  143,267,591    63,477,487    119,974,465    23,293,126   83.74%(56,496,978) 89.00%     10Page 16 of 144   F FY2021 Quarterly Report    Non‐operating expenditures are budgeted at $12,541,948 in FY2021. Budgeted non‐operating expenditures include  $8,166,143 for capital projects and $4,375,805 for debt service payments, both of which typically trend towards later  quarters. As previously mentioned, a significant portion of labor expenses for capital projects will be journaled at the  end of the fiscal year, bringing operations and capital expense in balance with their budgets.    FY2021 EXPENSE PROJECTIONS:  Staff will continue to monitor FY2021 actuals to ensure they align with year‐end projections. Total operating expenses  are projected to end FY2021 at $132,217,192.  The overage in FY2021 projections is due from write off uncollectible  bill revenues that are older than 120 days.  The City hired a collections agency in the summer and they are making  progress on reducing outstanding receivables. Through the quarter, actuals are 86.64% of total operating expense  projections.      Electric Services         Quarterly Comparison: Q3  FY2021 Budget FY2021  FY2021 Year‐to‐date  Actuals Vs. Budget Year‐End: Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections  2021  Variance  Fav/(Unfav)  % of  Projections  Operating Expense         City of Georgetown (Only)  ‐  ‐  ‐ 0.00%  ‐  ‐  0.00% CC0001 Non‐Departmental  5,506,375    4,511,501    994,874   81.93%  6,668,720    2,157,219    67.65% CC0522 Electric  Administration  8,738,792    6,585,076    2,153,716   75.35%  8,944,477    2,359,401    73.62% CC0525 T&D Services  3,122,421    3,101,351    21,070   99.33%  3,089,942    (11,409)  100.37% CC0526 Systems Engineering  ‐  65,095    (65,095) 0.00%  80,506    15,411    80.86% CC0537 Electric Resource  Management  108,334,393    96,290,644   12,043,749   88.88%108,331,349   12,040,705    88.89% CC0555 Electric Systems  Operations  1,610,228    1,196,821    413,407   74.33%  1,639,454    442,633   73.00% CC0557 Electrical  Engineering  663,952    762,545    (98,593) 114.85%  715,684    (46,861)  106.55% CC0521 Electric Technical  Services  727,388    515,431    211,957   70.86%  717,148    201,716    71.87% CC0524 Metering Services  2,022,094    1,521,811    500,283   75.26%  2,029,912    508,100   74.97% CC0526 Systems Engineering  ‐  65,095    (65,095) 0.00%  80,506    15,411    80.86% Operating Expense Total   130,725,643    114,550,276   16,175,367   87.63%132,217,192   17,666,916    86.64%          Non‐Operating Expense         CC0001 Non‐Departmental  4,375,805    875,370    3,500,435   20.00%  4,373,805    3,498,435    20.01% CC0557 Electrical  Engineering  8,166,143    4,546,269    3,619,873   55.67%  8,166,142    3,619,873    55.67% CC0526 Systems Engineering  ‐  2,550    (2,550) 0.00%  ‐  (2,550)  0.00% Non‐Operating Expense Total   12,541,948    5,424,189    7,117,759   43.25%  12,539,947    7,115,758    43.26%          Expense Total  143,267,591    119,974,465   23,293,126   83.74%144,757,139   24,782,674    82.88%   Non‐operating expenses are projected to end FY2021 at $12,539,947, which is 43.26% of year‐to‐date actuals  through the quarter.    11Page 17 of 144   F FY2021 Quarterly Report  The Electric Fund anticipates meeting all the funds below line contingency requirements by the end of FY2021.   Contingency requirements include a 90‐day operating contingency of $4,018,754, a reserve for bond proceeds  totaling $4,448,314, non‐operating reserve of $3,486,903, and as well as establishing a rate stabilization reserve in  the amount of $18,600,000 at the end of FY2021.      12Page 18 of 144   F FY2021 Quarterly Report  Water Fund:   WATER REVENUE:  Year‐to‐date Operating revenue totals $78,871,231, or 111.22% of budget. The largest revenue streams in the Water  Fund are charges for services for water, wastewater, and irrigation use.  Through the quarter, Water Charges total  $26,580,429, which is 82.68% of budget.  Year‐to‐date, Wastewater Charges are $11,034,529, or 77.71% of budget.   Irrigation Charges total $205,791 for the quarter, or 68.60% of budget.  Increases in number of meters and customers  as well as rate increase effect January 1st, have proven to significantly increase year‐to‐date revenues for the Water  Fund from 2020 to 2021.  The budget for Impact Fees for the fiscal year is $18,800,000. Through the quarter, impact fee revenues total  $30,978,300, or 164.78% of budget. Water utility staff included an updated estimate of these fees for fiscal year‐end  projections and for FY2022 planning.     Water         Quarterly Comparison: Q3  FY2021 Budget FY2020 FY2021  FY2021 Year‐to‐date  Actuals Vs. Budget Quarterly Comparison   FY2021 YTD Actuals:  Q3 FY2020  YTD Actuals:  Q3 FY2021 Variance % of Budget  Variance % Variance  Operating Revenue         41002:Penalties  255,000    171,240    364,515    109,515   142.95%  193,276   112.87% 42001:Interest Income  237,250    1,232,662    360,099    122,849   151.78%  (872,563) ‐70.79% 43001:Fees  4,290,000    4,660,840    7,790,258    3,500,258   181.59%  3,129,418   67.14% 43005:Rental Revenue  55,000    55,702    61,070    6,070   111.04%  5,367   9.64% 43602:Water Charges  32,150,000    22,150,006    26,580,429    (5,569,571) 82.68%  4,430,424   20.00% 43603:Wastewater  Charges  14,200,000    10,854,202    11,034,529    (3,165,471) 77.71%  180,327   1.66% 43604:Irrigation Charges  300,000    261,511    205,791    (94,209) 68.60%  (55,720) ‐21.31% 41602:Impact Fees  18,800,000    23,968,570    30,978,300    12,178,300   164.78%  7,009,730   29.25% 44502:Developer  Contributions  625,000    ‐  1,496,239    871,239   239.40%  1,496,239   0.00% Operating Revenue Total   70,912,250    63,354,732    78,871,231   7,958,981   111.22%  15,516,498   24.49%          Non‐Operating Revenue         45001:Misc Revenue  1,112,500    472,092    183,855    (928,645) 16.53%  (288,238) ‐61.06% 45003:Misc  Reimbursements  ‐  ‐  10,422    10,422   0.00%  10,422   0.00% 45004:Sale of Property  1,327,774    735,404    1,329,336    1,562   100.12%  593,931   80.76% 46001:Bond Proceeds  16,300,000    9,375,000    14,975,000    (1,325,000) 91.87%  5,600,000   59.73% 46002:Bond Premium  ‐  ‐  1,415,140    1,415,140   0.00%  1,415,140   0.00% Non‐Operating Revenue  Total   18,740,274    10,582,497    17,913,752    (826,522) 95.59%  7,331,255   69.28%          Revenue Total  89,652,524    73,937,229    96,784,982    7,132,458   107.96%  22,847,753   30.90% K 2.5M 5.0M 7.5M 10.0M 12.5M 15.0M FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 Q1 Q2 Q3 WATER FUND: CHARGES FOR SERVICES Irrigation Charges Wastewater Charges Water Charges 13Page 19 of 144   F FY2021 Quarterly Report    Total Water Fund operating revenue is up 25% compared  to the same period last fiscal year due to growth in sales  and collections in impact fees.  Year‐to‐date consumption  of water is increased 15% over FY2020, despite a relatively  wet summer.      The budget for non‐operating revenue totals $18,740,274  in FY2021. This total includes bond proceeds for capital  projects  in  the  amount  of  $16,300,000.  Year  to  date  through the third quarter the City has recognized $16.5  million in bond proceed and premium revenues.   Sale of  property revenue includes the Chisolm Trail building sale  to the City of Florence.  Misc revenue includes the  Blanchard  contract  revenue,  billed  annually  in  the  4 th  quarter.    FY2021 REVENUE PROJECTIONS:        Water         Quarterly Comparison: Q3  FY2021 Budget FY2021  FY2021 Year‐to‐date  Actuals Vs. Budget Year‐End: Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections  FY2021  Variance  Fav/(Unfav)  % of  Projections  Operating Revenue         41002:Penalties  255,000    364,515    109,515    142.95%  355,000    9,515    102.68% 42001:Interest Income  237,250    360,099    122,849    151.78%  492,336    (132,237)  73.14% 43001:Fees  4,290,000    7,790,258    3,500,258    181.59%  7,655,000    135,258    101.77% 43005:Rental Revenue  55,000    61,070    6,070    111.04%  60,000    1,070    101.78% 43602:Water Charges  32,150,000    26,580,429    (5,569,571)  82.68%  35,100,000    (8,519,571)  75.73% 43603:Wastewater  Charges  14,200,000    11,034,529    (3,165,471)  77.71%  14,000,000    (2,965,471)  78.82% 43604:Irrigation Charges  300,000    205,791    (94,209)  68.60%  300,000    (94,209)  68.60% 41602:Impact Fees  18,800,000    30,978,300    12,178,300    164.78%  32,500,000    (1,521,700)  95.32% 44502:Developer  Contributions  625,000    1,496,239    871,239    239.40%  1,496,239    (0)  100.00% Operating Revenue Total   70,912,250    78,871,231    7,958,981   111.22%  91,958,575    (13,087,344)  85.77%           Non‐Operating Revenue         45001:Misc Revenue  1,112,500    183,855    (928,645)  16.53%  1,262,350    (1,078,495)  14.56% 45003:Misc  Reimbursements  ‐  10,422    10,422    0.00%  ‐  10,422    0.00% 45004:Sale of Property  1,327,774    1,329,336    1,562    100.12%  1,327,774    1,562    100.12% 46001:Bond Proceeds  16,300,000    14,975,000    (1,325,000)  91.87%  14,975,000    ‐  100.00% 46002:Bond Premium  ‐  1,415,140    1,415,140    0.00%  1,415,140    (0)  100.00% Non‐Operating Revenue  Total   18,740,274    17,913,752    (826,522)  95.59%  18,980,264    (1,066,512)  94.38%           Revenue Total  89,652,524    96,784,982    7,132,458    107.96%  110,938,839    (14,153,856)  87.24% K 250K 500K 750K 1.0M Oct Nov Dec Jan Feb Mar Apr May Jun WATER FUND: CONSUMPTION  (KGALS) FY2020 FY2021 14Page 20 of 144   F FY2021 Quarterly Report  Staff will monitor FY2021 projections as the end of the fiscal year approaches.  Operating revenue for the Water Fund  is projected to end FY2021 at $91,958,575.  The major revenue sources all align with year‐to‐date actuals.  Water  Charges  are  projected to  end  the year at $35,100,000, Wastewater charges at $14,000,000, and Irrigation at  $300,000.  The City is averaging an additional 370 new meters a month and 3,388 new wastewater connections per   year over the past two years.  Overall, operating revenue year‐to‐date actuals make up 85.77%, and align with  projections.      Total non‐operating revenues are projected to end FY2021 at $18,980,264.  Through the quarter, actual revenues are  94.38% of total non‐operating projections.    WATER EXPENSES:  Operating expenditures in the Water Fund total $33,539,731 through the quarter, or 70.60% of budget. Operational  costs are trending on budget. Personnel costs are also higher due to the winter storm overtime. Staff will continue  to monitor operational costs through the year.  Water Services Financial  Report           Quarterly Comparison: Q3  FY2021 Budget FY2020 FY2021  FY2021 Year‐to‐date Vs.  Budget Quarterly Comparison   FY2021 YTD Actuals:  Q3 FY2020  YTD Actuals:  Q3 FY2021 Variance % of  Budget Variance % Variance  Operating Expense         City of Georgetown (Only)  ‐  210,469    ‐  ‐ 0.00%  210,469   ‐100.00% CC0001 Non‐Departmental  4,223,814    2,852,967    3,144,556    1,079,258   74.45%  (291,588) 10.22% CC0526 Systems Engineering  ‐  11,407,971    (2,081,558)  2,081,558   0.00%  13,489,529   ‐118.25% CC0532 Irrigation Operations  295,000    201,625    104,713    190,287   35.50%  96,912   ‐48.07% CC0530 Wastewater  Operations  896,265    730,120    536,658    359,607   59.88%  193,462   ‐26.50% CC0531 Wastewater Plant  Management  4,013,950    2,864,072    2,966,012    1,047,938   73.89%  (101,940)3.56% CC0527 Water Services  Administration  26,369,169    19,596,287    19,613,533    6,755,637   74.38%  (17,245) 0.09% CC0528 Water Distribution  3,207,552    2,038,812    2,807,556    399,996   87.53%  (768,744) 37.71% CC0529 Water Plant  Management  4,326,865    2,872,027    3,129,510    1,197,354   72.33%  (257,483)8.97% CC0553 Water Operations  4,173,316    7,922,897    3,318,486    854,830   79.52%  4,604,411   ‐58.12% CC0524 Metering Services  ‐  ‐  265    (265) 0.00%  (265) 0.00% Operating Expense Total   47,505,930    50,697,248    33,539,731   13,966,199    70.60%  17,157,516   ‐33.84%           Non‐Operating Expense         City of Georgetown (Only)  ‐  ‐  ‐  ‐ 0.00%  ‐ 0.00% CC0001 Non‐Departmental  4,083,411    625,429    94,190    3,989,221   2.31%  531,239   ‐84.94% CC0526 Systems Engineering  99,671,405    5,791,464    27,573,842    72,097,563   27.66%  (21,782,377) 376.11% CC0532 Irrigation Operations  121,879    11,626    9,606    112,273   7.88%  2,020   ‐17.38% CC0530 Wastewater  Operations  3,026,798    1,202,051    533,080    2,493,718   17.61%  668,970   ‐55.65% CC0531 Wastewater Plant  Management  2,050,000    ‐  ‐  2,050,000   0.00%  ‐ 0.00% CC0527 Water Services  Administration  ‐  ‐  6,037    (6,037) 0.00%  (6,037) 0.00% CC0528 Water Distribution  1,159,424    ‐  781,316    378,108   67.39%  (781,316) 0.00% CC0529 Water Plant  Management  2,757    ‐  ‐  2,757   0.00%  ‐ 0.00% 15Page 21 of 144   F FY2021 Quarterly Report    Non‐operating expense are budgeted at $124,828,037 in FY2021. Expenses total $47,160,281 through the quarter,  which includes encumbrances for large projects as well as payment for debt services.  Principal debt payments are  made in the 4th quarter.    Large variances between Systems Engineering and Water Operations cost centers compared to FY2020 are due to  data coding changes in the new financial reporting system that are related to new tracking mechanisms for capital  projects.    FY2021 EXPENSE PROJECTIONS:  Staff will monitor FY2021 projections as the end of the fiscal year approaches. Total expenses are projected to end  FY2021 at $171,645,358.  Water Services Financial Report         Quarterly Comparison: Q3  FY2021 Budget FY2021  FY2021 Year‐to‐date Vs.  Budget FY2021 Year‐to‐date Vs. Projections   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections  FY2021  Variance  Fav/(Unfav)  % of  Projection  Operating Expense         City of Georgetown (Only)  ‐  ‐  ‐ 0.00%  ‐  ‐ 0.00% CC0001 Non‐Departmental  4,223,814    3,144,556    1,079,258   74.45%  4,713,430    1,568,874   66.71% CC0526 Systems Engineering  ‐  (2,081,558)  2,081,558   0.00%  (639,847)  1,441,711   325.32% CC0532 Irrigation Operations  295,000    104,713    190,287   35.50%  295,000    190,287   35.50% CC0530 Wastewater  Operations  896,265    536,658    359,607   59.88%  834,706    298,048   64.29% CC0531 Wastewater Plant  Management  4,013,950    2,966,012    1,047,938   73.89%  3,704,111    738,099   80.07% CC0527 Water Services  Administration  26,369,169    19,613,533    6,755,637   74.38%  26,232,898    6,619,365   74.77% CC0528 Water Distribution  3,207,552    2,807,556    399,996   87.53%  3,911,851    1,104,295   71.77% CC0529 Water Plant  Management  4,326,865    3,129,510    1,197,354   72.33%  3,910,271    780,761   80.03% CC0553 Water Operations  4,173,316    3,318,486    854,830   79.52%  4,463,681    1,145,195   74.34% CC0524 Metering Services  ‐  265    (265) 0.00%  ‐  (265) 0.00% Operating Expense Total   47,505,930    33,539,731    13,966,199  70.60%  47,426,102    13,886,371   70.72%          Non‐Operating Expense         CC0001 Non‐Departmental  4,083,411    94,190    3,989,221   2.31%  3,887,651    3,793,461   2.42% CC0526 Systems Engineering  99,671,405    27,573,842    72,097,563   27.66%  99,630,405    72,056,563   27.68% CC0532 Irrigation Operations  121,879    9,606    112,273   7.88%  121,929    112,323   7.88% CC0530 Wastewater  Operations  3,026,798    533,080    2,493,718   17.61%  3,026,798    2,493,718   17.61% CC0531 Wastewater Plant  Management  2,050,000    ‐  2,050,000   0.00%  2,050,000    2,050,000   0.00% CC0527 Water Services  Administration  ‐  6,037    (6,037) 0.00%  6,037    0   100.00% CC0528 Water Distribution  1,159,424    781,316    378,108   67.39%  781,316    ‐ 100.00% CC0529 Water Plant  Management  2,757    ‐  2,757   0.00%  2,757    2,757   0.00% CC0553 Water Operations  13,962,363    7,369,877    18,162,210    (4,199,847) 130.08%  (10,792,333) 146.44% CC0524 Metering Services  750,000    ‐  ‐  750,000   0.00%  ‐ 0.00% Non‐Operating Expense Total   124,828,037    15,000,448    47,160,281    77,667,756    37.78%  (32,159,833) 214.39%           Expense  172,333,967    65,697,695    80,700,012    91,633,955   53.17%  (15,002,317) 22.84% 16Page 22 of 144   F FY2021 Quarterly Report  CC0553 Water Operations  13,962,363    18,162,210    (4,199,847) 130.08%  13,962,363    (4,199,847) 130.08% CC0524 Metering Services  750,000    ‐  750,000   0.00%  750,000    750,000   0.00% Non‐Operating Expense Total   124,828,037    47,160,281    77,667,756   37.78%124,219,256    77,058,975   37.97%          Expense  172,333,967    80,700,012    91,633,955   53.17%171,645,358    90,945,346   47.02%   Staff will continue to monitor FY2021 actuals to ensure they align with year‐end projections. Total operating expenses  are projected to end FY2021 at $47,426,102.  Operating expenses are anticipated to come in higher than expected  from  increased  chemical  costs,  sludge  hauling  costs,  repair  and  maintenance  of  aging  mechanical  equipment,  updated multi‐year rate study, and increased in lab testing expenses for the rate study.  Through the quarter, actuals  are 70.72% of total operating expense projections.      Non‐operating expenses are projected to end FY2021 at $124,219,256, which is 37.97% of year‐to‐date actuals  through the quarter.      The Water Fund anticipates meeting all the funds below line contingency requirements by the end of FY2021.   Contingency requirements include a 90‐day operating contingency of $9,127,742, and a non‐operating reserve of  $10,000,000.      17Page 23 of 144   F FY2021 Quarterly Report  OTHER MAJOR FUNDS:   Tourism Fund: The COVID‐19 pandemic significantly  impacted the tourism sector. Overall revenue in the  fund  totals  $744,632,  or  70.92%  of  budget.  Hotel  Occupancy Tax revenue in this fund year to date totals  $723,371 through the quarter, or 80.37% of budget.  Staff have continued to market Georgetown and are  pleased to see occupancy rates recovering slowly but  steadily.     FY2021 REVENUE PROJECTIONS:  Total revenues are projected to be $899,850.  Through  the  quarter, actuals are 82.75% of total projections.   The overnight stays in Georgetown are beginning to  trend upward again.  Estimates reflect a conservative  approach due to the uncertainty of the pandemic’s  impact on the remainder of the fiscal year.      Tourism Fund         Quarterly Comparison:  Q3 FY2021 Budget  YTD Actuals   Q3 FY2021  FY2021 Year‐to‐date  Vs. Budget Year‐End: Projections Vs. Actuals    FY2021 YTD Actuals:  Q3 FY2021 Variance % Variance Projections  FY2021  Variance   Fav/(Unfav)  % of  Projection  Revenues         40008:Other Taxes  900,000    723,371    (176,629) 80.37%  850,000    (126,629) 85.10% 42001:Interest Income  5,000    4,311    (689) 86.22%  5,000    (689) 86.22% 45001:Misc Revenue  95,000    16,950    (78,050) 17.84%  39,850    (22,900) 42.53% 44505:Sponsorship  50,000    ‐  (50,000) 0.00%  5,000    (5,000) 0.00% Total Revenues   1,050,000    744,632    (305,368) 70.92%  899,850   (155,218) 82.75%   Year to date expenses in the Convention & Visitors Bureau Fund total $727,085 or 49.19% of budget. Staff will  continue to monitor this fund as travel is anticipated to pick up in the spring and summer months. The City has  postponed the annual Red Poppy Festival in the spring for a second year in a row, but anticipates holding a fall  POPtober Fest.     Staff will monitor FY2021 projections as the end of the fiscal year approaches. Total expenses are projected to end  FY2021 at $1,304,309.  Through the quarter, actuals are 55.74% of total projections.      Overall, Tourism Fund expenditures are within budget and the fund can cover the 90‐day Contingency Reserve. Total  year‐end fund balance is anticipated to be $1,300,464 in FY2021 with a contingency reserve of $305,771.                309K 368K 392K K 100K 200K 300K 400K Q1 Q2 Q3 HOTEL OCCUPANCY TAX FY2019  FY2020  FY2021 18Page 24 of 144   F FY2021 Quarterly Report  FY2021 EXPENSE PROJECTIONS:  Tourism Fund         Quarterly Comparison:  Q3 FY2021 Budget  YTD Actuals  Q3 FY2021  FY2021 Year‐to‐date Vs.  Budget Year‐End: Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections  FY2021  Variance   Fav/(Unfav)  % of  Projection  Expenses         City of Georgetown  ‐  ‐   ‐ 0.00%  ‐  ‐ 0.00% CC0001 Non‐ 28,634    28,634     ‐ 100.00%  28,634    ‐ 100.00% CC0208 CVB  1,241,841    695,662     546,180   178.51%  1,093,475    397,813   63.62% CC0254 Poppy  207,700    2,789     204,911   7446.93%  182,200    179,411   1.53% Total Expenses   1,478,175    727,085    751,091    203.30%  1,304,309    577,224   55.74%     19Page 25 of 144   F FY2021 Quarterly Report  Airport Fund:   Airport operating  revenue  budget  totals  $3,951,500.  Airport Charges, the largest segment of revenue totals  $2,738,084 year to date. This includes revenue for fuel  sales, facility lease, and hangar rentals.     Non‐operating revenue are bond proceeds for capital  projects.  Total  Revenues  through  the  quarter  are  $3,456,687, or 74.23% of budget.     FY2021 REVENUE PROJECTIONS:  Total operating revenues are projected to end FY2021 at  $3,814,930.    At  the  end  of  the  quarter,  operating  revenue projections are 71.86% of year‐to‐date actuals.   Non‐operating revenues are projected to end the year  at $872,186, and are at 82.00% of year‐to‐date actuals.      Airport         Quarterly Comparison: Q3  FY2021 Budget FY2021  FY2021 Year‐to‐date Vs.  Budget Year‐End:  Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections  FY2021  Variance  Fav/(Unfav)  % of  Projection  Operating Revenue         40001:Property Taxes  40,000    ‐  (40,000) 0.00%  57,000    (57,000) 0.00% 42001:Interest Income  3,000    3,416    416   113.87%  3,129    287   109.18% 43606:Airport Charges  3,908,500    2,738,084    (1,170,416) 70.05%  3,754,800    (1,016,716) 72.92% Operating Revenue Total   3,951,500    2,741,501    (1,209,999) 69.38%  3,814,930    (1,073,429) 71.86%          Non‐Operating Revenue         45001:Misc Revenue  5,000    1,000    (4,000) 20.00%  1,000    ‐ 100.00% 44001:Grant Revenue  ‐  ‐  ‐ 0.00%  157,000    (157,000) 0.00% 46001:Bond Proceeds  700,000    650,000    (50,000) 92.86%  650,000    ‐ 100.00% 46002:Bond Premium  ‐  64,186    64,186   0.00%  64,186    0   100.00% Non‐Operating Revenue  Total   705,000    715,186    10,186   101.44%  872,186    (157,000) 82.00%          Total Revenue  4,656,500    3,456,687    (1,199,813) 74.23%  4,687,116    (1,230,429) 73.75%      K 200K 400K 600K 800K Q1 Q2 Q3 AIRPORT FUND FUEL SALES  FY2020  FY2021 20Page 26 of 144   F FY2021 Quarterly Report  Operating expenses in the Airport fund include a budget of $4,427,731. Year‐to‐date operation expenses totals  $4,321,554 which include a $1,264,397 encumbrance for annual fuel costs.     The budget for non‐operating expenses total $908,931.  This includes a CIP expense of $750,000 for the construction  of a maintenance facility at the airport.  The remaining amount of non‐operating expense is for the airport’s debt  service payment, which trends toward the 4th quarter when the City makes principal payments.     FY2021 EXPENSE PROJECTIONS:  Staff will monitor FY2021 projections as the end of the fiscal year approaches. Total expenses are projected to end  FY2021 at $4,896,514.  Through the quarter, actuals are 88.89% of total projections.  Airport Fund         Quarterly Comparison: Q3  FY2021 Budget FY2021  FY2021 Year‐to‐date Vs.  Budget Year‐End:  Projections Vs. Actuals   FY2021 YTD Actuals:  Q3 FY2021 Variance % of Budget Projections  FY2021  Variance  Fav/(Unfav)  % of  Projection  Operating Expense         Personnel  464,472    312,904    151,568   67.37%  465,860    152,956   67.17% Operations  3,559,192    3,988,811    (429,619) 112.07%  3,416,469    (572,342)116.75% Operating Capital  404,067    19,839    384,228   4.91%  105,255    85,416   18.85% Total Operating Expenses   4,427,731    4,321,554     106,177   97.60%  3,987,583    (333,971) 108.38%          Non‐Operating Expense         CIP Expense  750,000    ‐  750,000   0.00%  750,000    750,000   0.00% Debt Service  158,931    30,873    128,058   19.43%  158,931    128,058   19.43% Non‐Operating Expense  Total   908,931    30,873     878,058   3.40%  908,931    878,058   3.40%          Expense Total  5,336,662    4,352,427    984,235   81.56%  4,896,514    544,087   88.89%     Overall, Airport Operation expenditures are within budget and the fund can cover the 90‐day Contingency Reserve  of $332,917, as well as a debt service reserve of $184,099.    21Page 27 of 144 II. INVESTMENTS    The investment activity and strategies described in this report comply with the Public Funds Investment  Act (PFIA), the City’s investment policy, and generally accepted accounting principles.  Activity for the  third quarter of fiscal year 2021 includes the maturing of financial institution deposits (CDs), reinvestment  of CD’s, investment in a new MMA, receipt of bond proceeds, and investing of consolidated funds in CD’s.   Interest rates for money market accounts, Treasury bills, and CD’s decreased again during this quarter.   We are seeing a decline in rates being submitted for our competitive investment offerings due to no  positive changes in the market. We are also seeing a decline in the number of banks responding to our  investment offerings. The Federal Open Market Committee (FOMC) maintained the Fed Funds target  range at 0.00% to 0.25% (Effective Fed Funds are trading <0.10%), and projects that reduced rates could  remain into 2023.  These are the lowest rates we have seen since December 2008.  The decrease in  interest from banks was exacerbated in the Third Quarter due to the US Treasury’s release of the billions  of dollars for the American Rescue Plan. The City will continue soliciting for the best rates to improve both  diversity and yield, while keeping in mind safety and liquidity.    The Investment Reports for the quarter ending June 30, 2021, and the supporting schedules are attached.   Valley  View  Consulting,  L.L.C.,  has  prepared  the  attached  investment  reports.    A  component  of  our  investment advisory services contract includes Valley View preparing the quarterly investment reports on  behalf of the City.  A summary of the investment balances as of June 30, 2021, compared to the prior  quarter, is shown below for the City, as well as Georgetown Transportation Enhancement Corporation  (GTEC) and Georgetown Economic Development Corporation (GEDCO).  Included in the City portfolio are  debt  service,  consolidated  funds,  and  bond  proceeds.    The  breakdown  of  the  City’s  portfolio  is  consolidated at 63%, debt service at 5%, and bond proceeds at 32%.       CITY              Book Value  GTEC    GEDCO   3/31/21  6/30/21    3/31/21  6/30/21    3/31/21  6/30/21    Total  cash  and  investments    $276,385,252  $345,161,582    $33,083,118  $42,427,551    $11,095,498  $11,734,129    Quarter  End  Average Yield  .21%   .15%    .06%  .04%    .08%  .07%     The City’s strategy continues to be matching maturities with cash flow needs, while focusing on the  investment policy’s long‐range goals.  The City’s investment strategy is to “ladder” or stagger maturities,  thus minimizing erratic interest rate fluctuations.  The City is continuing to manage the yield on bond  proceeds for arbitrage purposes.  The  City’s  investment  portfolio  generally  includes  bank  deposits,  local  government  investment  pool  balances, money market accounts, and financial institution deposits (CD’s). All of these investments meet  the safety requirements of the PFIA. Local Government Investment  Pools  must  maintain  a  rating  of  AAAm, Securities (Treasury Bills) must have direct or implied backing of the Federal Government and  22Page 28 of 144 Financial  Institution  Deposits  (CDs  and  money  market  accounts) must  be  collateralized  with  FDIC  insurance or obligations with an implied backing from the Federal Government.  The collateral on all City  investments are monitored monthly to ensure the financial institutions carry minimum collateral of 100%  with a letter of credit or 102% with pledged securities for all of the City’s investments.  All securities held  by financial institutions as collateral on behalf of the City have been reviewed and met PFIA‐minimum  rating criteria.    The City continues to work with the City’s depository bank (JPMorgan Chase) to find an average daily  balance that is best to receive the highest yield on the account.  These balances earn credit against the  fees charged by the bank.  The City will continue to verify depository yield versus investment yield to  achieve the best outcome.   III. CAPITAL IMPROVEMENT PROJECTS    A financial summary of capital improvement projects is attached to this report. With new capability in the  recent financial software implementation, we are providing a Life‐to‐Date picture of all active projects  since many capital projects take multiple fiscal years to construct to completion. With our growing capital  infrastructure implementation portfolio due  demand for transportation and water services, City staff  have  formed  two  working  groups  with  the  goal  of  improving  work capacity  and  efficiencies,  and  ultimately customer service, related to capital projects. One group is focused on incrementally improving  capital project reporting internally and externally citywide – including financial information as well as  scheduling,  geographic  location,  and  other  information.  The  second  group  is  focused  on  the  re‐ organization of development‐related capital improvements from the Systems Engineering department to  the Planning Department. Both groups will continue working through the first quarter of FY2022.  23Page 29 of 144 General Fund Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance Fav/(Unfav)% of Projection Beginning Fund Balance 21,196,610                 21,196,610                 ‐                               100.00% 21,196,610                 ‐                               100.00% Revenue 40001:Property Taxes 15,976,505                 461,799                       16,323,813                 347,308                       102.17% 15,996,505                 327,309                       102.05% 40002:Sales Taxes 18,576,250                 2,014,851                    13,162,725                 (5,413,525)                  70.86% 22,924,375                 (9,761,650)                  57.42% 40005:Franchise Taxes 6,255,270                    361,697                       4,139,137                    (2,116,133)                  66.17% 6,182,563                    (2,043,426)                  66.95% 40008:Other Taxes 400,000                       ‐                               150,932                       (249,068)                      37.73% 410,000                       (259,068)                      36.81% 41001:Fines 328,392                       24,270                         188,560                       (139,832)                      57.42% 290,600                       (102,040)                      64.89% 41002:Penalties 60,000                         8,902                           74,664                         14,664                         124.44% 70,000                         4,665                           106.66% 42001:Interest Income 75,000                         1,967                           67,253                         (7,747)                          89.67% 87,429                         (20,176)                        76.92% 43001:Fees 7,028,184                    802,702                       5,349,312                    (1,678,872)                  76.11% 6,876,306                    (1,526,994)                  77.79% 43002:Garbage Charges 10,151,764                 958,562                       8,099,881                    (2,051,883)                  79.79% 10,300,000                 (2,200,120)                  78.64% 43003:Permits 4,317,750                    447,975                       3,927,014                    (390,736)                      90.95% 4,880,250                    (953,237)                      80.47% 43004:Administrative Charges 3,396,447                    282,708                      2,544,376                   (852,071)                     74.91% 3,396,447                   (852,071)                     74.91% 43005:Rental Revenue 148,140                      16,670                        148,231                      91                                100.06%125,947                      22,284                        117.69% 45001:Misc Revenue 871,955                      2,841                          663,347                      (208,608)                     76.08%804,049                      (140,702)                     82.50% 45003:Misc Reimbursements ‐                              9,954                          9,954                          9,954                          0.00%‐                              9,954                          0.00% 44001:Grant Revenue 679,884                      28,530                        498,073                      (181,811)                     73.26%500,000                      (1,927)                         99.61% 44501:Contribution Revenue ‐                              ‐                              ‐                              ‐                              0.00%‐                              ‐                              0.00% 44502:Developer Contributions 423,112                       ‐                               423,328                       216                               100.05% 423,332                       (4)                                  100.00% 44503:Interlocal Agreement Revenue 5,091,091                    1,528,738                    3,896,283                    (1,194,808)                  76.53% 5,091,092                    (1,194,808)                  76.53% 44504:Donations ‐                               ‐                               ‐                               ‐                               0.00% ‐                               ‐                               0.00% 70001:Transfers In 995,302                       ‐                               995,302                       ‐                               100.00% 995,302                       ‐                               100.00% 70002:Transfers In ‐ Payment in Lieu of Taxes (PILOT)8,431,375                    895,333                       6,821,411                    (1,609,964)                  80.91% 8,460,467                    (1,639,056)                  80.63% Revenue Total 83,206,421                 7,847,499                   67,483,595                 (15,722,826)                81.10% 87,814,662                 (20,331,067)                76.85% Expense CC0001 Non‐Departmental 1,654,691                    1,145                           767,545                       887,146                       46.39% 6,357,848                    5,590,303                    12.07% CC0107 Planning 1,978,054                    133,648                       1,418,785                    559,269                       71.73% 1,903,216                    484,430                       74.55% CC0202 Parks Administration 662,887                       50,560                         467,925                       194,962                       70.59% 643,407                       175,482                       72.73% CC0210 Library 2,837,904                    213,267                       2,020,529                    817,375                       71.20% 2,852,883                    832,353                       70.82% CC0211 Parks 2,727,414                    202,037                       1,970,156                    757,257                       72.24% 2,640,698                    670,541                       74.61% CC0212 Recreation 2,899,381                    243,485                       2,014,550                    884,831                       69.48% 2,870,088                    855,538                       70.19% CC0213 Tennis Center 442,917                       33,390                         279,269                       163,648                       63.05% 421,451                       142,182                       66.26% CC0214 Recreation Programs 1,251,370                    158,028                       602,801                       648,569                       48.17% 1,093,594                    490,793                       55.12% CC0215 Garey Park 982,022                       73,291                         675,082                       306,940                       68.74% 974,873                       299,791                       69.25% CC0218 Arts and Culture 57,857                         4,041                           40,250                         17,607                         69.57% 57,857                         17,608                         69.57% CC0316 Municipal Court 585,123                       42,324                         405,587                       179,536                       69.32% 556,709                       151,122                       72.85% CC0402 Fire Support Services/Administration 4,348,592                    295,637                       2,806,711                    1,541,881                    64.54% 3,795,965                    989,254                       73.94% CC0422 Fire Emergency Services 15,953,391                 1,193,733                    11,086,740                 4,866,651                    69.49% 15,961,522                 4,874,782                    69.46% CC0448 EMS 2,580,541                    235,756                       2,123,373                    457,167                       82.28% 3,063,614                    940,241                       69.31% CC0533 Environmental Services 9,662,924                    749,726                       6,173,731                    3,489,193                    63.89% 9,666,349                    3,492,618                    63.87% CC0536 Inspection Services 1,547,913                    116,593                       1,022,357                    525,556                       66.05% 1,439,273                   416,917                      71.03% Year‐End:  Projections Vs. ActualsYear‐to‐Date Actuals Budget Vs. Actuals 24Page 30 of 144 General Fund Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance Fav/(Unfav)% of Projection Year‐End:  Projections Vs. ActualsYear‐to‐Date Actuals Budget Vs. Actuals CC0602 Administrative Services 1,893,936                    142,915                       1,329,084                    564,852                       70.18% 1,921,512                    592,428                       69.17% CC0605 Community Services 353,889                       16,145                         299,569                       54,320                         84.65% 359,411                       59,841                         83.35% CC0634 City Council Services 185,734                       14,745                         145,315                       40,419                         78.24% 190,992                       45,677                         76.08% CC0635 City Secretary Services 1,009,772                    93,635                         748,123                       261,649                       74.09% 988,578                       240,456                       75.68% CC0638 General Government Contracts 4,774,808                    713,681                       4,159,360                    615,448                       87.11% 5,529,569                    1,370,209                    75.22% CC0655 Communications/Public Engagement 844,604                       43,089                         539,039                       305,564                       63.82% 825,151                       286,111                       65.33% CC0702 Police Administration 2,567,848                    185,125                       1,800,323                    767,526                       70.11% 2,565,917                    765,594                       70.16% CC0742 Police Operations 14,669,105                 1,094,080                    10,623,277                 4,045,829                    72.42% 14,508,770                 3,885,493                    73.22% CC0744 Animal Services 1,106,702                    76,731                         681,774                       424,928                       61.60% 1,046,689                    364,914                       65.14% CC0745 Code Compliance 562,740                       32,318                         359,716                       203,024                       63.92% 520,890                       161,174                       69.06% CC0802 Public Works 1,705,914                    77,907                         1,342,617                    363,297                       78.70% 1,632,799                    290,182                       82.23% CC0846 Streets 3,137,149                    186,463                       2,202,440                    934,710                       70.21% 3,082,495                    880,056                       71.45% Expense Total 82,985,180                 6,426,702                   58,118,749                 24,866,431                 70.04% 87,477,342                 29,358,593                 66.44% Excess (Deficiency) of Total Revenue over Total  Requirements 221,240                       1,420,797                   9,364,846                   9,143,606                   4232.89% 337,319                       9,027,527                   2776.25% Ending Fund Balance 21,417,850                 30,561,456                 9,143,606                   142.69% 21,533,929                 9,027,527                   141.92% Reserves AFR Adjustment ‐                               ‐                               ‐                               0.00% ‐                               ‐                               0.00% Benefit Payout Reserve 340,000                       340,000                       ‐                               100.00% 340,000                       ‐                               100.00% Contingency Reserve 12,626,752                 12,626,752                 ‐                               100.00% 12,626,752                 ‐                               100.00% Economic Stability Reserve 1,467,563                   1,467,563                   ‐                              100.00% 1,467,563                   ‐                              100.00% Reserves Total 14,434,315                14,434,315                ‐                              100.00% 14,434,315                ‐                              100.00% Available Fund Balance 6,983,535                  16,127,141                9,143,606                  230.93% 7,099,614                  9,027,527                  227.16% 25Page 31 of 144 Electric Services Period:Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance Fav/(Unfav)% of Projection Beginning Fund Balance 28,133,710           28,133,710           ‐                         100.00%28,133,710           ‐                         100.00% Operating Revenues 40002:Sales Taxes 5,000                      354                         3,966                      (1,034)                     79.33% 5,000                      (1,034)                     79.33% 40005:Franchise Taxes 115,732                  ‐                          ‐                          (115,732)                0.00% ‐                          ‐                          0.00% 41002:Penalties 553,724                 64,555                   596,358                 42,634                   107.70%547,759                  48,599                    108.87% 42001:Interest Income 5,000                      1,248                      27,265                    22,265                    545.30%20,828                    6,437                      130.90% 43001:Fees 685,000                 53,922                   707,437                 22,437                   103.28%868,887                  (161,450)                81.42% 43004:Administrative Charges 3,222,103              268,509                  2,416,577             (805,526)               75.00% 3,222,103             (805,526)               75.00% 43601:Electric Charges 78,982,278           7,417,673             56,509,322           (22,472,956)          71.55% 79,081,809           (22,572,487)          71.46% 44502:Developer Contributions 1,500,000             187,411                 5,964,069             4,464,069             397.60%6,100,000             (135,930)               97.77% 70001:Transfers In 1,562,058             ‐                         1,379,308             (182,750)               88.30% 1,562,058             (182,750)               88.30% Total Operating Revenues 86,630,895           7,993,672             67,604,303           (19,026,592)          78.04% 91,408,444           (23,804,141)          73.96% Operating Expenses City of Georgetown (Only)‐                         ‐                         ‐                         ‐                         0.00%‐                         ‐                         0.00% CC0001 Non‐Departmental 5,506,375             523,074                 4,511,501             (994,874)               81.93% 6,668,720             2,157,219             67.65% CC0526 Systems Engineering ‐                         (94,372)                  65,095                   65,095                   0.00% 80,506                   15,411                   80.86% CC0522 Electric Administration 8,738,792             736,433                 6,585,076             (2,153,716)            75.35% 8,944,477             2,359,401             73.62% CC0525 T&D Services 3,122,421             283,469                 3,101,351             (21,070)                  99.33% 3,089,942             (11,409)                  100.37% CC0537 Electric Resource Management 108,334,393          5,432,568             96,290,644           (12,043,749)          88.88% 108,331,349         12,040,705           88.89% CC0555 Electric Systems Operations 1,610,228             126,244                 1,196,821             (413,407)               74.33% 1,639,454             442,633                 73.00% CC0557 Electrical Engineering 663,952                 72,720                   762,545                 98,593                   114.85%715,684                 (46,861)                  106.55% CC0521 Electric Technical Services 727,388                  48,808                    515,431                  (211,957)                70.86% 717,148                  201,716                 71.87% CC0524 Metering Services 2,022,094             118,649                 1,521,811             (500,283)               75.26% 2,029,912             508,100                 74.97% Total Operating Expenses 130,725,643         7,247,593             114,550,276         (16,175,367)          87.63% 132,217,192         17,666,916           86.64% Net Operations Total (44,094,748)          (46,945,973)          (2,851,225)            106.47%(40,808,747)          (6,137,225)            115.04% Non‐Operating Revenues 45001:Misc Revenue 35,000                    30,430                    270,081                  235,081                  771.66%233,023                  37,058                    115.90% 45004:Sale of Property 10,000                    141,409                  1,038,936             1,028,936             10389.36%2,526,604             (1,487,668)            41.12% 46001:Bond Proceeds 54,648,625            6,040,000             54,065,000           (583,625)               98.93% 54,065,000           ‐                         100.00% 46002:Bond Premium ‐                          652,424                 652,424                 652,424                 0.00% 652,424                 0                             100.00% Total Non‐Operating Revenues 54,693,625           6,864,264             56,026,441           1,332,816             102.44%57,477,051           (1,450,610)            97.48% Non‐Operating Expenses CC0001 Non‐Departmental 4,375,805             37,408                   875,370                 3,500,435             20.00% 4,373,805             3,498,435             20.01% CC0526 Systems Engineering ‐                         ‐                         2,550                     (2,550)                    0.00%‐                         (2,550)                    0.00% CC0557 Electrical Engineering 8,166,143             290,279                 4,546,269             3,619,873             55.67% 8,166,142             3,619,873             55.67% Total Non‐Operating Expenses 12,541,948           327,686                 5,424,189             7,117,759             43.25% 12,539,947           7,115,758             43.26% Excess (Deficiency) of Total Revenue over Total Requirements (1,943,071)            121,534,979         14,232,296           16,175,367           ‐732.46%4,128,357             10,103,940           344.74% Ending Fund Balance 26,190,639           31,789,989           5,599,350             121.38%32,262,067           (472,077)               98.54% Reserves Rate Stabalization ‐                         ‐                         ‐                         0.00% 18,600,000           18,600,000           0.00% Reserve for Bond Proceeds 4,448,314             4,448,314             ‐                         100.00%4,448,314             ‐                         100.00% Contingency Reserve 4,018,754             4,018,754             ‐                         100.00%4,018,754             ‐                         100.00% Non‐Operating Reserve 10,594,999           10,594,999           ‐                         100.00%3,486,903              (7,108,096)             303.85% Reserves Total 19,062,067           19,062,067           ‐                         100.00%30,553,971           11,491,904           62.39% Available Fund Balance 7,128,572             12,727,922           5,599,350             178.55%1,708,096             11,019,827           745.15% Year‐to‐Date  Actuals Budget Vs. Actuals Year‐End:                                             Projections Vs. Actuals 26Page 32 of 144 Water Services Fund Period: Jun‐21  Budget  FY2021 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance Fav/(Unfav)% of Projection Beginning Fund Balance 125,458,053              125,458,053                  ‐                                   100.00%125,458,053              ‐                             100.00% Operating Revenue 41002:Penalties 255,000                      364,515                          109,515                          142.95%355,000                      9,515                         2.68% 42001:Interest Income 237,250                      360,099                          122,849                          151.78%492,336                      (132,237)                   73.14% 43001:Fees 4,290,000                   7,790,258                       3,500,258                       181.59% 7,655,000                   135,258                     101.77% 43005:Rental Revenue 55,000                        61,070                             6,070                               111.04%60,000                        1,070                         101.78% 43602:Water Charges 32,150,000                26,580,429                     (5,569,571)                      82.68% 35,100,000                (8,519,571)                75.73% 43603:Wastewater Charges 14,200,000                11,034,529                     (3,165,471)                      77.71% 14,000,000                (2,965,471)                78.82% 43604:Irrigation Charges 300,000                      205,791                          (94,209)                           68.60%300,000                      (94,209)                      68.60% 41602:Impact Fees 18,800,000                30,978,300                     12,178,300                     164.78% 32,500,000                (1,521,700)                95.32% 44502:Developer Contributions 625,000                      1,496,239                       871,239                          239.40% 1,496,239                   (0)                                 100.00% Total Operating Revenue 70,912,250                78,871,231                    7,958,981                       111.22%91,958,575                (13,087,344)             85.77% Operating Expenses City of Georgetown (Only)‐                                ‐                                    ‐                                    0.00% ‐                                ‐                              0.00% CC0001 Non‐Departmental 4,223,814                   3,144,556                       1,079,258                       74.45% 4,713,430                   1,568,874                 66.71% CC0526 Systems Engineering ‐                               (2,081,558)                      2,081,558                       0.00%(639,847)                     1,441,711                 325.32% CC0532 Irrigation Operations 295,000                      104,713                          190,287                          35.50%295,000                      190,287                     35.50% CC0530 Wastewater Operations 896,265                      536,658                          359,607                          59.88%834,706                      298,048                     64.29% CC0531 Wastewater Plant Management 4,013,950                   2,966,012                       1,047,938                       73.89% 3,704,111                   738,099                     80.07% CC0527 Water Services Administration 26,369,169                19,613,533                     6,755,637                       74.38% 26,232,898                6,619,365                 74.77% CC0528 Water Distribution 3,207,552                   2,807,556                       399,996                          87.53% 3,911,851                   1,104,295                 71.77% CC0529 Water Plant Management 4,326,865                   3,129,510                       1,197,354                       72.33% 3,910,271                   780,761                     80.03% CC0553 Water Operations 4,173,316                   3,318,486                       854,830                          79.52% 4,463,681                   1,145,195                 74.34% CC0524 Metering Services ‐                               265                                  (265)                                 0.00%‐                               (265)                           0.00% Operating Expense Total 47,505,930                33,539,731                    13,966,199                    70.60%47,426,102                13,886,371               70.72% Available Operating Fund Balance 23,406,320                45,331,500                    (6,007,218)                     44,532,473                799,026                    101.79% Non‐Operating Revenue 45001:Misc Revenue 1,112,500                   183,855                          (928,645)                         16.53% 1,262,350                   (1,078,495)                14.56% 45003:Misc Reimbursements ‐                               10,422                             10,422                             0.00%‐                               10,422                       0.00% 45004:Sale of Property 1,327,774                   1,329,336                       1,562                               100.12% 1,327,774                   1,562                         100.12% 46001:Bond Proceeds 16,300,000                14,975,000                     (1,325,000)                      91.87% 14,975,000                ‐                             100.00% 46002:Bond Premium ‐                               1,415,140                       1,415,140                       0.00% 1,415,140                   (0)                                 100.00% Non‐Operating Revenue Total 18,740,274                17,913,752                    (826,522)                         95.59%18,980,264                (1,066,512)                94.38% Non‐Operating Expenses CC0001 Non‐Departmental 4,083,411                   94,190                             3,989,221                       2.31% 3,887,651                   3,793,461                 2.42% CC0526 Systems Engineering 99,671,405                27,573,842                     72,097,563                     27.66% 99,630,405                72,056,563               27.68% CC0532 Irrigation Operations 121,879                      9,606                               112,273                          7.88%121,929                      112,323                     7.88% CC0530 Wastewater Operations 3,026,798                   533,080                          2,493,718                       17.61% 3,026,798                   2,493,718                 17.61% CC0531 Wastewater Plant Management 2,050,000                   ‐                                   2,050,000                       0.00% 2,050,000                   2,050,000                 0.00% CC0527 Water Services Administration ‐                               6,037                               (6,037)                              0.00%6,037                          0                                  100.00% CC0528 Water Distribution 1,159,424                   781,316                          378,108                          67.39%781,316                      ‐                             100.00% CC0529 Water Plant Management 2,757                          ‐                                   2,757                               0.00%2,757                          2,757                         0.00% CC0553 Water Operations 13,962,363                18,162,210                     (4,199,847)                      130.08% 13,962,363                (4,199,847)                130.08% CC0524 Metering Services 750,000                      ‐                                   750,000                          0.00%750,000                      750,000                     0.00% Non‐Operating Expense Total 124,828,037              47,160,281                    77,667,756                    37.78%124,219,256              77,058,975               37.97% Excess (Deficiency) of Total Revenue over Total  Requirements (82,681,443)                (74,722,462)                    7,958,981                        90.37% (60,706,519)                (14,015,943)              123.09% Ending Fund Balance 42,776,610                141,543,024                  98,766,413                    330.89%64,751,534                76,791,489               218.59% Reserves Contingency Reserve 9,127,742                   9,127,742                       ‐                                   100.00% 9,127,742                   ‐                             100.00% Non‐Operating Reserve 10,000,000                10,000,000                     ‐                                    100.00% 10,000,000                ‐                             100.00% Reserves Total 19,127,742                19,127,742                    ‐                                   100.00%19,127,742                ‐                             100.00% Available Fund Balance 23,648,868                122,415,282                  98,766,413                    517.64%45,623,792                76,791,489               268.31% Year‐to‐Date Actuals Budget Vs. Actuals Year‐End:                                               Projections Vs Actuals 27Page 33 of 144 Joint Services Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance Fav/(Unfav)% of Projection Beginning Fund Balance 2,157,365                   2,157,365                        ‐                               100.00%2,157,365                   ‐                               100.00% Revenue 41002:Penalties ‐                               2,728                            23,070                              23,070                         0.00%25,000                         (1,930)                          92.28% 42001:Interest Income 6,250                           62                                 6,403                                153                              102.44%6,250                           153                              102.44% 43001:Fees 173,600                      2,275                            14,305                              (159,295)                     8.24%14,000                         305                              102.18% 43003:Permits ‐                               ‐                                ‐                                    ‐                               0.00%‐                               ‐                               0.00% 43004:Administrative Charges 17,912,066                 1,483,995                    13,467,581                      (4,444,485)                  75.19% 17,912,066                 (4,444,485)                  75.19% 43005:Rental Revenue ‐                               ‐                                100                                    100                              0.00%100                              ‐                               100.00% 45001:Misc Revenue ‐                               ‐                                431                                    431                              0.00%431                              ‐                               100.00% 45002:Insurance Proceeds ‐                               73,432                         139,131                            139,131                      0.00%70,000                         69,131                         198.76% 45003:Misc Reimbursements 83,000                         7,942                            81,222                              (1,778)                          97.86%91,356                         (10,134)                       88.91% 70001:Transfers In ‐                               ‐                                ‐                                    ‐                               0.00%‐                               ‐                               0.00% Revenue Total 18,174,916                 1,570,435                    13,732,243                      (4,442,673)                  75.56% 18,119,203                 (4,386,961)                  75.79% Expense City of Georgetown (Only)‐                               ‐                                ‐                                    ‐                               0.00%‐                               ‐                               0.00% CC0001 Non‐Departmental 965,999                      96,099                         1,046,997                        (80,998)                       108.38% 1,246,402                   199,405                      84.00% CC0302 Finance Administration 1,222,909                   58,501                         836,147                            386,762                      68.37% 1,025,554                   189,407                      81.53% CC0315 Accounting 1,302,383                   94,742                         991,663                            310,720                      76.14% 1,358,423                   366,759                      73.00% CC0317 Purchasing 996,521                      71,123                         693,497                            303,025                      69.59%937,558                      244,062                      73.97% CC0321 Customer Care 5,955,711                   473,099                       4,427,818                        1,527,892                   74.35% 5,867,947                   1,440,128                   75.46% CC0503 Organizational and Operational Excellence 342,009                      24,040                         224,904                            117,105                      65.76%323,516                      98,612                         69.52% CC0526 Systems Engineering 2,757,957                   201,430                       1,960,232                        797,724                      71.08% 2,755,159                   794,927                      71.15% CC0534 Conservation 779,365                      42,557                         406,344                            373,021                      52.14%565,331                      158,987                      71.88% CC0547 Business System Services ‐                               ‐                                ‐                                    ‐                               0.00%‐                               ‐                               0.00% CC0637 Economic Development 593,007                      42,682                         425,530                            167,477                      71.76%575,708                      150,178                      73.91% CC0639 Human Resources 1,507,953                   122,850                       1,073,426                        434,528                      71.18% 1,481,634                   408,208                      72.45% CC0640 Citywide Human Resources 1,219,444                   38,818                         862,177                            357,267                      70.70% 1,127,024                   264,847                      76.50% CC0654 Legal 1,055,716                   78,096                         786,292                            269,424                      74.48% 1,037,349                   251,057                      75.80% Expense Total 18,698,974                 1,344,037                    13,735,026                      4,963,948                   73.45% 18,301,604                 4,566,577                   75.05% Excess (Deficiency) of Total Revenue over Total Requirements (524,058)                     226,398                       (2,784)                               521,274                      0.53%(182,400)                     179,617                      1.53% Ending Fund Balance 1,633,307                   2,154,581                        521,274                      131.92% 1,974,965                   179,617                      109.09% Reserves Contingency Reserve 1,633,307                   1,633,307                        ‐                               100.00%1,633,307                   ‐                               100.00% Reserves Total 1,633,307                   1,633,307                        ‐                               100.00%1,633,307                   ‐                               100.00% Available Fund Balance ‐                               521,274                            521,274                      0.00%341,658                      179,617                      152.57% Year‐to‐Date Actuals Budget Vs. Actuals Year‐End:  Projections Vs. Actuals 28Page 34 of 144 Council Discretionary Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance  Fav/(Unfav)% of Projection Beginning Fund Balance 110,483                       110,483                       ‐                           100.00%110,966                      (483)                          100.44% Revenue 42001:Interest Income 500                               0                                   121                               (379)                        24.30% 162                               (41)                             74.80% 70001:Transfers In ‐                                ‐                                ‐                                ‐                           0.00% 4,700,000                   (4,700,000)               0.00% Total Revenue 500                              0                                  121                              (379)                       24.30% 4,700,162                   (4,700,041)               0.00% Expense Transfers 110,983                      ‐                               110,983                      ‐                          100.00%110,983                      ‐                            100.00% Total Expense 110,983                      ‐                               110,983                      ‐                          100.00%110,983                       ‐                             100.00% Excess (Deficiency) of Total Revenue over Total  Requirements (110,483)                      0                                   (110,862)                      (379)                        100.34% 4,589,179                    (4,700,041)                ‐2.42% Ending Fund Balance ‐                                0                                   (379)                             (379)                        0.00% 4,700,145                   (4,700,524)               ‐0.01% Reserves AFR Adjustment ‐                               ‐                               ‐                          ‐                          ‐                               ‐                            0.00% Contingency Reserve ‐                               ‐                               ‐                          ‐                          ‐                               ‐                            0.00% Debt Service Reserve ‐                               ‐                               ‐                          ‐                          ‐                               ‐                            0.00% Reserves Total ‐                               ‐                               ‐                          ‐                          ‐                               ‐                            0.00% Available Fund Balance ‐                               (379)                            (379)                       ‐                          4,700,145                   (4,700,524)               ‐0.01% Year‐End:  Projections Vs. Actuals Year‐to‐Date  Actuals Budget Vs. Actuals 29Page 35 of 144 Tourism Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance Fav/(Unfav)% of Projection Beginning Fund Balance 1,282,917                    1,282,917                    ‐                                100.00% 1,675,963                    (393,046)                      130.64% Revenue 40008:Other Taxes 900,000                        185,341                        723,371                        (176,629)                      80.37% 850,000                        (126,629)                      85.10% 42001:Interest Income 5,000                            128                                4,311                            (689)                              86.22% 5,000                            (689)                              86.22% 45001:Misc Revenue 95,000                          2,811                            16,950                          (78,050)                         17.84% 39,850                          (22,900)                         42.53% 44505:Sponsorship 50,000                          ‐                                ‐                                (50,000)                         0.00% 5,000                            (5,000)                           0.00% Total Revenue 1,050,000                    188,280                       744,632                       (305,368)                      70.92% 899,850                       (155,218)                      82.75% Expense Personnel 435,456                        25,586                          246,073                        189,383                        56.51% 355,688                        109,615                        69.18% Operations 1,014,085                    14,571                          452,378                        561,707                        44.61% 919,987                        467,609                        49.17% Transfers 28,634                          ‐                                28,634                          ‐                                100.00% 28,634                          ‐                                100.00% Total Expense 1,478,175                    40,157                          727,085                       751,091                       49.19% 1,304,309                    577,224                       55.74% Excess (Deficiency) of Total Revenue over Total  Requirements (428,175)                      148,123                       17,547                          445,722                       ‐4.10% (404,459)                      422,006                       ‐4.34% Ending Fund Balance 854,742                       148,123                      1,300,464                   445,722                      121.73% 1,271,504                   28,960                         102.28% Reserves AFR Adjustment ‐                               ‐                               ‐                               0.00%‐                               ‐                               0.00% Contingency Reserve 305,771                       305,771                       ‐                               100.00%305,771                       ‐                               100.00% Reserves Total 305,771                      305,771                      ‐                               100.00%305,771                      ‐                               100.00% Available Fund Balance 548,971                      994,693                      445,722                      181.19%965,733                      28,960                         103.00% Year‐End:  Projections Vs. ActualsYear‐to‐Date Actuals Budget Vs. Actuals 30Page 36 of 144 Airport Operations Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance Fav/(Unfav)% of Projection Beginning Fund Balance 1,463,499                    1,463,499                    ‐                                100.00% 1,463,499                    ‐                                100.00% Operating Revenues 40001:Property Taxes 40,000                          ‐                                ‐                                (40,000)                        0.00% 57,000                          (57,000)                        0.00% 42001:Interest Income 3,000                            112                               3,416                            416                               113.87% 3,129                            287                               109.18% 43606:Airport Charges 3,908,500                    374,836                       2,738,084                    (1,170,416)                   70.05% 3,754,800                    (1,016,716)                   72.92% Total Operating Revenues 3,951,500                    374,948                       2,741,501                    (1,209,999)                  69.38% 3,814,930                    (1,073,429)                  71.86% Operating Expenses Personnel 464,472                       34,386                          312,904                       151,568                       67.37% 465,860                       152,956                       67.17% Operations 3,559,192                    309,948                       3,988,811                    (429,619)                      112.07% 3,416,469                    (572,342)                      116.75% Operating Capital 404,067                       578                               19,839                          384,228                       4.91% 105,255                       85,416                          18.85% Total Operating Expenses 4,427,731                    344,912                       4,321,554                   106,177                      97.60% 3,987,583                   (333,971)                     108.38% Non‐Operating Revenues 45001:Misc Revenue 5,000                           ‐                               1,000                           (4,000)                          20.00%1,000                           ‐                               100.00% 44001:Grant Revenue ‐                               ‐                               ‐                               ‐                               0.00%157,000                      (157,000)                     0.00% 46001:Bond Proceeds 700,000                      ‐                               650,000                      (50,000)                       92.86%650,000                      ‐                               100.00% 46002:Bond Premium ‐                               ‐                               64,186                         64,186                         0.00%64,186                         0                                   100.00% Total Non‐Operating Revenues 705,000                      ‐                               715,186                      10,186                         101.44%872,186                      (157,000)                     82.00% Non‐Operating Expenses CIP Expense 750,000                      ‐                               ‐                               750,000                      0.00%750,000                      750,000                      0.00% Debt Service 158,931                      ‐                               30,873                         128,058                      19.43%158,931                      128,058                      19.43% Total Non‐Operating Expenses 908,931                      ‐                               30,873                         878,058                      3.40%908,931                      878,058                      3.40% Excess (Deficiency) of Total Revenue over Total  Requirements (680,162)                     30,036                         (895,740)                     (215,578)                     131.70%(209,398)                     (686,342)                     427.77% Ending Fund Balance 783,337                      30,036                         567,759                      (215,578)                     72.48% 1,254,101                   (686,342)                     45.27% Reserves AFR Adjustment ‐                               ‐                               ‐                               0.00%‐                               ‐                               0.00% Contingency Reserve 332,917                      332,917                      ‐                               100.00%332,917                      ‐                               100.00% Reserves for Debt Service 141,478                      141,478                      ‐                               100.00%184,099                      42,621                         76.85% Reserves Total 474,395                      474,395                      ‐                               100.00%517,016                      42,621                         91.76% Available Fund Balance 308,942                      93,364                         (215,578)                     30.22%737,085                      (643,721)                     12.67% Year‐End:  Projections Vs. ActualsYear‐to‐Date Actuals Budget Vs. Actuals 31Page 37 of 144 GTEC Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance  Fav/(Unfav)% of Projection Beginning Fund Balance 31,029,698                  31,029,698                  ‐                           100.00% 31,029,698                  ‐                             100.00% Revenue 40002:Sales Taxes 8,255,000                    895,369                       5,849,118                    (2,405,882)              70.86% 10,187,500                  (4,338,382)                57.41% 42001:Interest Income 60,000                          1,544                            21,248                          (38,752)                   35.41% 24,544                          (3,295)                        86.57% 46001:Bond Proceeds 8,000,000                    ‐                                7,405,000                    (595,000)                 92.56% 7,405,000                    ‐                             100.00% 46002:Bond Premium ‐                                ‐                                731,229                       731,229                  0.00% 731,229                       (0)                                100.00% Total Revenue 16,315,000                  896,913                       14,006,595                  (2,308,405)              85.85% 18,348,273                  (4,341,678)                76.34% Expense Operations 2,387,337                    33,514                          245,683                       2,141,654               10.29% 2,386,565                    2,140,882                 10.29% Operating Capital ‐                                ‐                                4,140                            (4,140)                      0.00% 0                                    (4,140)                        2435382.35% CIP Expense 20,476,813                  867,917                       3,742,554                    16,734,259             18.28% 20,476,813                  16,734,259               18.28% Transfers 2,763,242                    ‐                                420,122                       2,343,120               15.20% 2,763,242                    2,343,120                 15.20% Debt Service 1,053,050                    ‐                                155,800                       897,250                  14.80% 1,053,050                    897,250                     14.80% Total Expense 26,680,442                  901,431                      4,568,299                   22,112,143            17.12% 26,679,671                 22,111,372              17.12% Excess (Deficiency) of Total Revenue over Total  Requirements (10,365,442)               (4,517)                         9,438,296                   19,803,738            ‐91.06% (8,331,398)                 17,769,694              ‐113.29% Ending Fund Balance 20,664,256                 40,467,994                 19,803,738            195.84% 22,698,300                 17,769,694              178.29% Reserves AFR Adjustment ‐                               ‐                               ‐                          0.00%‐                               ‐                            0.00% Contingency Reserve 1,984,375                   1,984,375                   ‐                          100.00% 1,984,375                   ‐                            100.00% Debt Service Reserve 3,494,232                   3,494,232                   ‐                          100.00% 3,494,232                   ‐                            100.00% Reserves Total 5,478,607                   5,478,607                   ‐                          100.00% 5,478,607                   ‐                            100.00% Available Fund Balance 15,185,649                 34,989,387                 19,803,738            230.41% 17,219,693                 17,769,694              203.19% Year‐End:  Projections Vs. Actuals Year‐to‐Date  Actuals Budget Vs. Actuals 32Page 38 of 144 GEDCO Period: Jun‐21  Budget Current Period FY2021 Jun‐21 YTD Actuals w/  Encumbrances Variance % of Budget Projections Variance  Fav/(Unfav)% of Projection Beginning Fund Balance 8,845,777                    8,845,777                    ‐                           100.00% 5,740,067                    3,105,710                 64.89% Revenue 40002:Sales Taxes 2,063,750                    223,842                       1,462,280                    (601,471)                 70.86% 2,546,875                    (1,084,595)                57.41% 42001:Interest Income 19,000                          236                               22,975                          3,975                       120.92% 25,000                          (2,026)                        91.90% Total Revenue 2,082,750                    224,079                       1,485,254                   (597,496)                71.31% 2,571,875                   (1,086,621)               57.75% Expense Operations 8,850,174                   20,193                         703,533                      8,146,641              7.95% 6,028,476                   5,324,942                11.67% Debt Service 90,572                         ‐                               ‐                               90,572                    0.00%90,572                         90,572                      0.00% Transfers 1,200,169                   ‐                               1,040,084                   160,085                 86.66% 1,200,169                   160,085                    86.66% Total Expense 10,140,915                 20,193                        1,743,618                   8,397,297              17.19% 7,319,217                   5,575,599                23.82% Excess (Deficiency) of Total Revenue over Total  Requirements (8,058,165)                 203,885                      (258,364)                     7,799,801              3.21% (4,747,342)                 4,488,979                5.44% Ending Fund Balance 787,612                      203,885                      8,587,413                   (8,994,793)             1090.31%992,725                      (7,594,689)               865.03% Reserves AFR Adjustment ‐                               ‐                               ‐                          0.00%‐                               ‐                            0.00% Contingency Reserve 505,468                      505,468                      ‐                          100.00%505,468                      ‐                            100.00% Debt Service Reserve 202,769                      202,769                      ‐                          100.00%202,769                      ‐                            100.00% Reserves Total 708,237                      708,237                      ‐                          100.00%708,237                      ‐                            100.00% Available Fund Balance 79,375                        7,879,176                   7,799,801              9926.52%284,488                      7,594,689                2769.60% Year‐End:  Projections Vs. Actuals Year‐to‐Date  Actuals Budget Vs. Actuals 33Page 39 of 144 CITY QUARTERLY INVESTMENT REPORT For the Quarter Ended June 30, 2021 Prepared by Valley View Consulting, L.L.C. ________________________________________________________________________ Leigh Wallace Nathan Parras Finance Director Assistant Finance Director ________________________________________________________________________ Karrie Pursley Elaine Wilson Treasurer Assistant Finance Director The investment portfolio of the City of Georgetown is in compliance with the Public Funds Investment Act and the Investment Policy and Strategies. Disclaimer:These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees. 34Page 40 of 144 Economic Overview 6/30/2021 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading <0.10%), and projects that reduced rates could remain into 2023. First Quarter GDP posted +6.4% (Final). In June, Payrolls added 850k and Unemployment (U2) rose slightly to 5.9%. Crude oil traded up to +/-$75 per barrel. The Stock Markets reached new highs. Housing, Industrial Production, Durable Goods, Consumer Spending, and other indicators moderated and showed signs of strain. The Biden administration and Congress continue to negotiate an infrastructure package. Inflation surged over the FOMC 2+% target, but is considered to be temporary. The Yield Curve "humped" slightly in the two-to-three year maturity sector while the long end fell. 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 3,500 3,750 4,000 4,250 4,500 4,750 S&P 500 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 US Treasury Historical Yields - Since Nov 2015 Six Month T-Bill Two Year T-Note Ten Year T-Note 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Treasury Yield Curves June 30, 2020 March 31, 2021 June 30, 2021 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 US Treasury Historical Yields - Since 2006 Six Month T-Bill Two Year T-Note Ten Year T-Note Valley View Consulting, L.L.C.135Page 41 of 144 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield Demand Accounts 15,550,035$ 15,550,035 23,547,685$ 23,547,685$ 0.22% NOW/MMA 11,019,484 11,019,484 23,029,382 23,029,382 0.26% Pools 144,095,312 144,095,312 174,848,692 174,848,692 0.01% CDs/Securities 105,720,421 105,720,421 123,735,822 123,735,822 0.31% Totals 276,385,252$ 276,385,252$ 345,161,582$ 345,161,582$ 0.15% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.15%Total Portfolio 0.24% Rolling Three Month Treasury 0.02%Rolling Three Month Treasury 0.06% Rolling Six Month Treasury 0.06%Rolling Six Month Treasury 0.09% TexPool 0.01%TexPool 0.04% Bank Fees Offset 11,446$ Interest earnings provided in separate report. 30,125$ March 31, 2021 (1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank, pool, and money market balances. (2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. Quarterly Bank Fees Offset Year-to-date Bank Fees Offset June 30, 2021 City of Georgetown Valley View Consulting, L.L.C. 236Page 42 of 144 City - Investment Holdings Coupon/ Maturity Settlement Face Amount/ Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day) Yield JPMorgan Chase Cash (3)0.22% 07/01/21 06/30/21 23,547,685$ 23,547,685$ 1.00 23,547,685$ 1 0.22% JPMorgan Chase MMA 0.03% 07/01/21 06/30/21 434,080 434,080 1.00 434,080 1 0.03% Veritex Bank MMA 0.08% 07/01/21 06/30/21 3,213,925 3,213,925 1.00 3,213,925 1 0.08% NexBank MMA 0.45% 07/01/21 06/30/21 7,380,457 7,380,457 1.00 7,380,457 1 0.45% Texas Capital Bank MMA 0.20% 07/01/21 06/30/21 12,000,920 12,000,920 1.00 12,000,920 1 0.20% TexPool AAAm 0.01%07/01/21 06/30/21 57,019,665 57,019,665 1.00 57,019,665 1 0.01% TexSTAR AAAm 0.01%07/01/21 06/30/21 117,829,027 117,829,027 1.00 117,829,027 1 0.01% Prosperity Bank CD 0.60% 07/01/21 07/01/20 4,018,010 4,018,010 100.00 4,018,010 1 0.60% Prosperity Bank CD 0.70% 07/15/21 07/15/20 5,026,275 5,026,275 100.00 5,026,275 15 0.70% Prosperity Bank CD 0.15% 08/10/21 02/10/21 3,001,480 3,001,480 100.00 3,001,480 41 0.15% Prosperity Bank CD 0.40% 08/23/21 08/21/20 6,263,799 6,263,799 100.00 6,263,799 54 0.40% R Bank CD 0.47% 08/25/21 02/25/21 2,002,293 2,002,293 100.00 2,002,293 56 0.47% East West Bank CD 0.26% 09/09/21 12/09/20 4,075,095 4,075,095 100.00 4,075,095 71 0.26% East West Bank CD 0.21% 10/08/21 01/08/21 5,005,008 5,005,008 100.00 5,005,008 100 0.21% Prosperity Bank CD 0.30% 10/14/21 10/14/20 2,504,993 2,504,993 100.00 2,504,993 106 0.30% Independent Bank CD 0.40% 10/18/21 10/18/20 2,551,673 2,551,673 100.00 2,551,673 110 0.40% Prosperity Bank CD 0.30% 11/22/21 11/20/20 3,005,228 3,005,228 100.00 3,005,228 145 0.30% Texas Regional Bank CD 0.25% 12/07/21 03/12/21 3,001,890 3,001,890 100.00 3,001,890 160 0.25% East West Bank CD 0.21% 12/30/21 12/30/20 3,003,160 3,003,160 100.00 3,003,160 183 0.21% East West Bank CD 0.21% 01/07/22 01/08/21 5,005,008 5,005,008 100.00 5,005,008 191 0.21% Prosperity Bank CD 0.30% 01/21/22 10/21/20 4,007,990 4,007,990 100.00 4,007,990 205 0.30% East West Bank CD 0.10% 02/01/22 05/10/21 2,000,285 2,000,285 100.00 2,000,285 216 0.10% Independent Bank CD 0.40% 02/05/22 02/05/21 3,002,905 3,002,905 100.00 3,002,905 220 0.40% Independent Bank CD 0.40% 02/08/22 02/08/21 5,004,822 5,004,822 100.00 5,004,822 223 0.40% R Bank CD 0.63% 02/25/22 02/25/21 2,003,075 2,003,075 100.00 2,003,075 240 0.63% Prosperity Bank CD 0.35% 04/21/22 10/21/20 2,505,827 2,505,827 100.00 2,505,827 295 0.35% Independent Bank CD 0.30% 04/22/22 04/22/21 4,211,849 4,211,849 100.00 4,211,849 296 0.30% Independent Bank CD 0.35% 05/09/22 02/08/21 4,003,414 4,003,414 100.00 4,003,414 313 0.35% Prosperity Bank CD 0.35% 05/17/22 11/17/20 2,004,067 2,004,067 100.00 2,004,067 321 0.35% Prosperity Bank CD 0.20% 06/13/22 06/11/21 5,000,000 5,000,000 100.00 5,000,000 348 0.20% Prosperity Bank CD 0.20% 07/25/22 04/23/21 5,001,671 5,001,671 100.00 5,001,671 390 0.20% Prosperity Bank CD 0.20% 08/01/22 05/25/21 5,000,849 5,000,849 100.00 5,000,849 397 0.20% Prosperity Bank CD 0.35% 08/22/22 11/20/20 2,505,084 2,505,084 100.00 2,505,084 418 0.35% Prosperity Bank CD 0.20% 09/12/22 06/11/21 5,000,000 5,000,000 100.00 5,000,000 439 0.20% June 30, 2021 City of Georgetown Valley View Consulting, L.L.C. 337Page 43 of 144 City - Investment Holdings Coupon/ Maturity Settlement Face Amount/ Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day) Yield June 30, 2021 Prosperity Bank CD 0.20% 10/24/22 04/23/21 5,001,671 5,001,671 100.00 5,001,671 481 0.20% Prosperity Bank CD 0.40% 11/17/22 11/17/20 2,004,649 2,004,649 100.00 2,004,649 505 0.40% R Bank CD 0.60% 12/31/22 06/30/21 1,000,000 1,000,000 100.00 1,000,000 549 0.60% Prosperity Bank CD 0.20% 04/24/23 04/23/21 5,001,671 5,001,671 100.00 5,001,671 663 0.20% Prosperity Bank CD 0.20% 05/01/23 05/25/21 5,000,849 5,000,849 100.00 5,000,849 670 0.20% Bank OZK CD 0.20% 06/12/23 06/11/21 5,011,230 5,011,230 100.00 5,011,230 712 0.20% R Bank CD 0.73% 06/30/23 06/30/21 1,000,000 1,000,000 100.00 1,000,000 730 0.73% TOTALS 345,161,582$ 345,161,582$ 345,161,582$ 104 0.15% (1) (2) (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment ad visory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees. City of Georgetown Valley View Consulting, L.L.C. 438Page 44 of 144 0–6 Months 80%6–12 Months 13% 12–18 Months 7% Current Quarter Maturities $0 $25,000,000 $50,000,000 $75,000,000 $100,000,000 $125,000,000 $150,000,000 $175,000,000 $200,000,000 $225,000,000 $250,000,000 $275,000,000 $300,000,000 $325,000,000 $350,000,000 $375,000,000 09/30/20 12/31/20 03/31/21 06/30/21 Portfolio Balances Money Market Local Depository TexSTAR TexPool Certificate of Deposit US Treasury 166174166 102 69 90 73 75 109104 123 156163 97 108 87 51 67 49 41 91 73 61 54 99 71 124 95100 80 70 67 63 58 81 82 74 104 0 50 100 150 200 # o f D a y s Weighted Average to Maturity JPMorgan Chase 7% Texas Capital Bank 3% Prosperity Bank 21% Veritex Bank 1% Bank OZK 1% NexBank 2%TexPool 17% TexSTAR 34% Independent Bank 5% Texas Regional Bank 1% East West Bank 6% R Bank 2% Portfolio Holdings by Issuer City of Georgetown Valley View Consulting, L.L.C. 539Page 45 of 144 City - Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 03/31/21 Increases Decreases Book Value 06/30/21 Market Value 03/31/21 Change in Market Value Market Value 06/30/21 JPMorgan Chase Cash 0.22% 07/01/21 15,550,035$ 7,997,650$ –$ 23,547,685$ 15,550,035$ 7,997,650$ 23,547,685$ JPMorgan Chase MMA 0.03% 07/01/21 434,048 32 – 434,080 434,048 32 434,080 Veritex Bank MMA 0.08% 07/01/21 3,213,253 672 – 3,213,925 3,213,253 672 3,213,925 NexBank MMA 0.45% 07/01/21 7,372,182 8,274 – 7,380,457 7,372,182 8,274 7,380,457 Texas Capital Bank MMA 0.20% 07/01/21 – 12,000,920 – 12,000,920 – 12,000,920 12,000,920 TexPool 0.01% 07/01/21 58,862,442 – (1,842,777) 57,019,665 58,862,442 (1,842,777) 57,019,665 TexSTAR 0.01% 07/01/21 85,232,871 32,596,156 – 117,829,027 85,232,871 32,596,156 117,829,027 Prosperity Bank CD 0.45%04/01/21 4,006,098 – (4,006,098) – 4,006,098 (4,006,098) – Independent Bank CD 1.81%04/22/21 4,193,238 – (4,193,238) – 4,193,238 (4,193,238) – Bank OZK CD 0.70%05/10/21 12,070,246 – (12,070,246) – 12,070,246 (12,070,246) – Southside Bank CD 0.22%06/11/21 5,005,456 – (5,005,456) – 5,005,456 (5,005,456) – Bank OZK CD 0.30%06/11/21 5,007,443 – (5,007,443) – 5,007,443 (5,007,443) – Prosperity Bank CD 0.60%07/01/21 4,012,075 5,936 – 4,018,010 4,012,075 5,936 4,018,010 Prosperity Bank CD 0.70%07/15/21 5,017,615 8,661 – 5,026,275 5,017,615 8,661 5,026,275 Prosperity Bank CD 0.15%08/10/21 3,000,345 1,135 – 3,001,480 3,000,345 1,135 3,001,480 Prosperity Bank CD 0.40%08/23/21 6,257,488 6,311 – 6,263,799 6,257,488 6,311 6,263,799 R Bank CD 0.47%08/25/21 2,000,000 2,293 – 2,002,293 2,000,000 2,293 2,002,293 East West Bank CD 0.26%09/09/21 4,072,454 2,641 – 4,075,095 4,072,454 2,641 4,075,095 East West Bank CD 0.21%10/08/21 5,002,388 2,620 – 5,005,008 5,002,388 2,620 5,005,008 Prosperity Bank CD 0.30%10/14/21 2,503,100 1,893 – 2,504,993 2,503,100 1,893 2,504,993 Independent Bank CD 0.40%10/18/21 2,549,159 2,514 – 2,551,673 2,549,159 2,514 2,551,673 Prosperity Bank CD 0.30%11/22/21 3,002,957 2,271 – 3,005,228 3,002,957 2,271 3,005,228 Texas Regional Bank CD 0.25%12/07/21 3,000,000 1,890 – 3,001,890 3,000,000 1,890 3,001,890 East West Bank CD 0.21%12/30/21 3,001,588 1,572 – 3,003,160 3,001,588 1,572 3,003,160 East West Bank CD 0.21%01/07/22 5,002,388 2,620 – 5,005,008 5,002,388 2,620 5,005,008 Prosperity Bank CD 0.30%01/21/22 4,004,960 3,029 – 4,007,990 4,004,960 3,029 4,007,990 East West Bank CD 0.10%02/01/22 – 2,000,285 – 2,000,285 – 2,000,285 2,000,285 Independent Bank CD 0.40%02/05/22 3,000,000 2,905 – 3,002,905 3,000,000 2,905 3,002,905 Independent Bank CD 0.40%02/08/22 5,000,000 4,822 – 5,004,822 5,000,000 4,822 5,004,822 R Bank CD 0.63%02/25/22 2,000,000 3,075 – 2,003,075 2,000,000 3,075 2,003,075 Prosperity Bank CD 0.35%04/21/22 2,503,617 2,209 – 2,505,827 2,503,617 2,209 2,505,827 Independent Bank CD 0.30%04/22/22 – 4,211,849 – 4,211,849 – 4,211,849 4,211,849 Independent Bank CD 0.35%05/09/22 4,000,000 3,414 – 4,003,414 4,000,000 3,414 4,003,414 Prosperity Bank CD 0.35%05/17/22 2,002,300 1,767 – 2,004,067 2,002,300 1,767 2,004,067 Prosperity Bank CD 0.20%06/13/22 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000 Prosperity Bank CD 0.20%07/25/22 – 5,001,671 – 5,001,671 – 5,001,671 5,001,671 Prosperity Bank CD 0.20%08/01/22 – 5,000,849 – 5,000,849 – 5,000,849 5,000,849 Prosperity Bank CD 0.35%08/22/22 2,502,875 2,209 – 2,505,084 2,502,875 2,209 2,505,084 Prosperity Bank CD 0.20%09/12/22 – 5,000,000 – 5,000,000 – 5,000,000 5,000,000 City of Georgetown Valley View Consulting, L.L.C. 640Page 46 of 144 City - Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 03/31/21 Increases Decreases Book Value 06/30/21 Market Value 03/31/21 Change in Market Value Market Value 06/30/21 Prosperity Bank CD 0.20%10/24/22 – 5,001,671 – 5,001,671 – 5,001,671 5,001,671 Prosperity Bank CD 0.40%11/17/22 2,002,629 2,020 – 2,004,649 2,002,629 2,020 2,004,649 R Bank CD 0.60%12/31/22 – 1,000,000 – 1,000,000 – 1,000,000 1,000,000 Prosperity Bank CD 0.20%04/24/23 – 5,001,671 – 5,001,671 – 5,001,671 5,001,671 Prosperity Bank CD 0.20%05/01/23 – 5,000,849 – 5,000,849 – 5,000,849 5,000,849 Bank OZK CD 0.20%06/12/23 – 5,011,230 – 5,011,230 – 5,011,230 5,011,230 R Bank CD 0.73%06/30/23 – 1,000,000 – 1,000,000 – 1,000,000 1,000,000 TOTAL / AVERAGE 0.15% 276,385,252$ 100,901,589$ (32,125,259)$ 345,161,582$ 276,385,252$ 68,776,330$ 345,161,582$ City of Georgetown Valley View Consulting, L.L.C. 741Page 47 of 144 City - Allocation Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip JPMorgan Chase Cash 23,547,685$ 23,547,685$ –$ –$ –$ –$ –$ –$ –$ JPMorgan Chase MMA 434,080 434,080 – – – – – – – Veritex Bank MMA 3,213,925 3,213,925 – – – – – – – NexBank MMA 7,380,457 7,380,457 – – – – – – – Texas Capital Bank MMA 12,000,920 12,000,920 – – – – – – – TexPool 57,019,665 57,019,665 – – – – – – – TexSTAR 117,829,027 12,317,440 501,925 17,705,596 137,311 41,309 2,508,904 1,531,881 67,908 Prosperity Bank CD 07/01/21 4,018,010 4,018,010 – – – – – – – Prosperity Bank CD 07/15/21 5,026,275 5,026,275 – – – – – – – Prosperity Bank CD 08/10/21 3,001,480 – – – – – – – – Prosperity Bank CD 08/23/21 6,263,799 6,263,799 – – – – – – – R Bank CD 08/25/21 2,002,293 – – – – – – – – East West Bank CD 09/09/21 4,075,095 4,075,095 – – – – – – – East West Bank CD 10/08/21 5,005,008 5,005,008 – – – – – – – Prosperity Bank CD 10/14/21 2,504,993 2,504,993 – – – – – – – Independent Bank CD 10/18/21 2,551,673 2,551,673 – – – – – – – Prosperity Bank CD 11/22/21 3,005,228 3,005,228 – – – – – – – Texas Regional Bank CD 12/07/21 3,001,890 – – – – – – – – East West Bank CD 12/30/21 3,003,160 3,003,160 – – – – – – – East West Bank CD 01/07/22 5,005,008 5,005,008 – – – – – – – Prosperity Bank CD 01/21/22 4,007,990 4,007,990 – – – – – – – East West Bank CD 02/01/22 2,000,285 – – – – – – – – Independent Bank CD 02/05/22 3,002,905 3,002,905 – – – – – – – Independent Bank CD 02/08/22 5,004,822 4,003,858 – – – – – – – R Bank CD 02/25/22 2,003,075 – – – – – – – – Prosperity Bank CD 04/21/22 2,505,827 2,505,827 – – – – – – – Independent Bank CD 04/22/22 4,211,849 4,211,849 – – – – – – – Independent Bank CD 05/09/22 4,003,414 4,003,414 – – – – – – – Prosperity Bank CD 05/17/22 2,004,067 2,004,067 – – – – – – – Prosperity Bank CD 06/13/22 5,000,000 5,000,000 – – – – – – – Prosperity Bank CD 07/25/22 5,001,671 5,001,671 – – – – – – – Prosperity Bank CD 08/01/22 5,000,849 5,000,849 – – – – – – – Prosperity Bank CD 08/22/22 2,505,084 2,505,084 – – – – – – – Prosperity Bank CD 09/12/22 5,000,000 5,000,000 – – – – – – – Prosperity Bank CD 10/24/22 5,001,671 5,001,671 – – – – – – – Prosperity Bank CD 11/17/22 2,004,649 2,004,649 – – – – – – – R Bank CD 12/31/22 1,000,000 1,000,000 – – – – – – – Prosperity Bank CD 04/24/23 5,001,671 5,001,671 – – – – – – – Prosperity Bank CD 05/01/23 5,000,849 5,000,849 – – – – – – – Bank OZK CD 06/12/23 5,011,230 5,011,230 – – – – – – – R Bank CD 06/30/23 1,000,000 1,000,000 – – – – – – – Totals 345,161,582$ 226,640,008$ 501,925$ 17,705,596$ 137,311$ 41,309$ 2,508,904$ 1,531,881$ 67,908$ Book Value June 30, 2021 City of Georgetown Valley View Consulting, L.L.C. 842Page 48 of 144 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 02/01/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 Prosperity Bank CD 10/24/22 Prosperity Bank CD 11/17/22 R Bank CD 12/31/22 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Totals Book Value June 30, 2021 (Continued) 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 Revenue Electric 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,429,271 1,096,157 246,572 178,455 97,386 4,761,158 56,701 661,264 407,723 – – – – – – – – – – – – – – – – – – – – – – – 3,001,480 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,001,890 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,964 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,429,271$ 1,096,157$ 246,572$ 178,455$ 97,386$ 11,765,493$ 56,701$ 661,264$ 407,723$ City of Georgetown Valley View Consulting, L.L.C. 943Page 49 of 144 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 02/01/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 Prosperity Bank CD 10/24/22 Prosperity Bank CD 11/17/22 R Bank CD 12/31/22 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Totals Book Value June 30, 2021 (Continued) 2018 GO- Roads 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Water/WW Electric- LCRA Transformers City - 2021 CO Airport –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,373,950 4,571,252 56,100 1,216,369 1,613,640 650,644 6,362,479 4,593,882 4,396,659 700,007 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,002,293 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,285 – – – – – – – – – – – – – – – – – – – – – – – – – – 2,003,075 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,373,950$ 6,573,545$ 56,100$ 3,219,443$ 1,613,640$ 650,644$ 8,362,764$ 4,593,882$ 4,396,659$ 700,007$ City of Georgetown Valley View Consulting, L.L.C. 1044Page 50 of 144 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 02/01/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 Prosperity Bank CD 10/24/22 Prosperity Bank CD 11/17/22 R Bank CD 12/31/22 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Totals Book Value June 30, 2021 (Continued) City - 2021 CO Fac/Equip/ Parks City - 2021 GO Parks City - 2021 GO Roads City - 2021A CO Electric City - 2021A CO Water/WW City - American Rescue Plan –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 12,883,708 1,000,010 6,698,429 6,650,049 16,300,121 4,014,767 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 12,883,708$ 1,000,010$ 6,698,429$ 6,650,049$ 16,300,121$ 4,014,767$ City of Georgetown Valley View Consulting, L.L.C. 1145Page 51 of 144 City - Allocation June 30, 2021 Market Value Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 GO- Roads 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip JPMorgan Chase Cash 23,547,685$ 23,547,685$ –$ –$ –$ –$ –$ –$ –$ JPMorgan Chase MMA 434,080 434,080 – – – – – – – Veritex Bank MMA 3,213,925 3,213,925 – – – – – – – NexBank MMA 7,380,457 7,380,457 – – – – – – – Texas Capital Bank MMA 12,000,920 12,000,920 – – – – – – – TexPool 57,019,665 57,019,665 – – – – – – – TexSTAR 117,829,027 12,317,440 501,925 17,705,596 137,311 41,309 2,508,904 1,531,881 67,908 Prosperity Bank CD 07/01/21 4,018,010 4,018,010 – – – – – – – Prosperity Bank CD 07/15/21 5,026,275 5,026,275 – – – – – – – Prosperity Bank CD 08/10/21 3,001,480 – – – – – – – – Prosperity Bank CD 08/23/21 6,263,799 6,263,799 – – – – – – – R Bank CD 08/25/21 2,002,293 – – – – – – – – East West Bank CD 09/09/21 4,075,095 4,075,095 – – – – – – – East West Bank CD 10/08/21 5,005,008 5,005,008 – – – – – – – Prosperity Bank CD 10/14/21 2,504,993 2,504,993 – – – – – – – Independent Bank CD 10/18/21 2,551,673 2,551,673 – – – – – – – Prosperity Bank CD 11/22/21 3,005,228 3,005,228 – – – – – – – Texas Regional Bank CD 12/07/21 3,001,890 – – – – – – – – East West Bank CD 12/30/21 3,003,160 3,003,160 – – – – – – – East West Bank CD 01/07/22 5,005,008 5,005,008 – – – – – – – Prosperity Bank CD 01/21/22 4,007,990 4,007,990 – – – – – – – East West Bank CD 02/01/22 2,000,285 – – – – – – – – Independent Bank CD 02/05/22 3,002,905 3,002,905 – – – – – – – Independent Bank CD 02/08/22 5,004,822 4,003,858 – – – – – – – R Bank CD 02/25/22 2,003,075 – – – – – – – – Prosperity Bank CD 04/21/22 2,505,827 2,505,827 – – – – – – – Independent Bank CD 04/22/22 4,211,849 4,211,849 – – – – – – – Independent Bank CD 05/09/22 4,003,414 4,003,414 – – – – – – – Prosperity Bank CD 05/17/22 2,004,067 2,004,067 – – – – – – – Prosperity Bank CD 06/13/22 5,000,000 5,000,000 – – – – – – – Prosperity Bank CD 07/25/22 5,001,671 5,001,671 – – – – – – – Prosperity Bank CD 08/01/22 5,000,849 5,000,849 – – – – – – – Prosperity Bank CD 08/22/22 2,505,084 2,505,084 – – – – – – – Prosperity Bank CD 09/12/22 5,000,000 5,000,000 – – – – – – – Prosperity Bank CD 10/24/22 5,001,671 5,001,671 – – – – – – – Prosperity Bank CD 11/17/22 2,004,649 2,004,649 – – – – – – – R Bank CD 12/31/22 1,000,000 1,000,000 – – – – – – – Prosperity Bank CD 04/24/23 5,001,671 5,001,671 – – – – – – – Prosperity Bank CD 05/01/23 5,000,849 5,000,849 – – – – – – – Bank OZK CD 06/12/23 5,011,230 5,011,230 – – – – – – – R Bank CD 06/30/23 1,000,000 1,000,000 – – – – – – – Totals 345,161,582$ 226,640,008$ 501,925$ 17,705,596$ 137,311$ 41,309$ 2,508,904$ 1,531,881$ 67,908$ City of Georgetown Valley View Consulting, L.L.C. 1246Page 52 of 144 City - Allocation June 30, 2021 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 02/01/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 Prosperity Bank CD 10/24/22 Prosperity Bank CD 11/17/22 R Bank CD 12/31/22 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Totals (Continued) 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 Revenue Electric 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,429,271 1,096,157 246,572 178,455 97,386 4,761,158 56,701 661,264 407,723 – – – – – – – – – – – – – – – – – – – – – – – 3,001,480 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,001,890 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,964 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,429,271$ 1,096,157$ 246,572$ 178,455$ 97,386$ 11,765,493$ 56,701$ 661,264$ 407,723$ City of Georgetown Valley View Consulting, L.L.C. 1347Page 53 of 144 City - Allocation June 30, 2021 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 02/01/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 Prosperity Bank CD 10/24/22 Prosperity Bank CD 11/17/22 R Bank CD 12/31/22 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Totals (Continued) 2018 GO- Roads 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Water/WW Electric- LCRA Transformers City - 2021 CO Airport –$ –$ –$ –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,373,950 4,571,252 56,100 1,216,369 1,613,640 650,644 6,362,479 4,593,882 4,396,659 700,007 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,002,293 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,285 – – – – – – – – – – – – – – – – – – – – – – – – – – 2,003,075 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,373,950$ 6,573,545$ 56,100$ 3,219,443$ 1,613,640$ 650,644$ 8,362,764$ 4,593,882$ 4,396,659$ 700,007$ City of Georgetown Valley View Consulting, L.L.C. 1448Page 54 of 144 City - Allocation June 30, 2021 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA Texas Capital Bank MMA TexPool TexSTAR Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 East West Bank CD 02/01/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 04/22/22 Independent Bank CD 05/09/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 06/13/22 Prosperity Bank CD 07/25/22 Prosperity Bank CD 08/01/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 09/12/22 Prosperity Bank CD 10/24/22 Prosperity Bank CD 11/17/22 R Bank CD 12/31/22 Prosperity Bank CD 04/24/23 Prosperity Bank CD 05/01/23 Bank OZK CD 06/12/23 R Bank CD 06/30/23 Totals (Continued) City - 2021 CO Fac/Equip/ Parks City - 2021 GO Parks City - 2021 GO Roads City - 2021A CO Electric City - 2021A CO Water/WW City - American Rescue Plan –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – 12,883,708 1,000,010 6,698,429 6,650,049 16,300,121 4,014,767 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 12,883,708$ 1,000,010$ 6,698,429$ 6,650,049$ 16,300,121$ 4,014,767$ City of Georgetown Valley View Consulting, L.L.C. 1549Page 55 of 144 City - Allocation Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 GO- Roads JPMorgan Chase Cash 15,550,035$ 15,550,035$ –$ –$ –$ –$ –$ JPMorgan Chase MMA 434,048 434,048 – – – – – Veritex Bank MMA 3,213,253 3,213,253 – – – – – NexBank MMA 7,372,182 7,372,182 – – – – – TexPool 58,862,442 58,862,442 – – – – – TexSTAR 85,232,871 20,153,413 584,286 17,544,854 137,307 93,010 2,508,839 Prosperity Bank CD 04/01/21 4,006,098 4,006,098 – – – – – Independent Bank CD 04/22/21 4,193,238 4,193,238 – – – – – Bank OZK CD 05/10/21 12,070,246 10,058,538 – – – – – Southside Bank CD 06/11/21 5,005,456 5,005,456 – – – – – Bank OZK CD 06/11/21 5,007,443 5,007,443 – – – – – Prosperity Bank CD 07/01/21 4,012,075 4,012,075 – – – – – Prosperity Bank CD 07/15/21 5,017,615 5,017,615 – – – – – Prosperity Bank CD 08/10/21 3,000,345 – – – – – – Prosperity Bank CD 08/23/21 6,257,488 6,257,488 – – – – – R Bank CD 08/25/21 2,000,000 – – – – – – East West Bank CD 09/09/21 4,072,454 4,072,454 – – – – – East West Bank CD 10/08/21 5,002,388 5,002,388 – – – – – Prosperity Bank CD 10/14/21 2,503,100 2,503,100 – – – – – Independent Bank CD 10/18/21 2,549,159 2,549,159 – – – – – Prosperity Bank CD 11/22/21 3,002,957 3,002,957 – – – – – Texas Regional Bank CD 12/07/21 3,000,000 – – – – – – East West Bank CD 12/30/21 3,001,588 3,001,588 – – – – – East West Bank CD 01/07/22 5,002,388 5,002,388 – – – – – Prosperity Bank CD 01/21/22 4,004,960 4,004,960 – – – – – Independent Bank CD 02/05/22 3,000,000 3,000,000 – – – – – Independent Bank CD 02/08/22 5,000,000 4,000,000 – – – – – R Bank CD 02/25/22 2,000,000 – – – – – – Prosperity Bank CD 04/21/22 2,503,617 2,503,617 – – – – – Independent Bank CD 05/17/22 4,000,000 4,000,000 – – – – – Prosperity Bank CD 05/17/22 2,002,300 2,002,300 – – – – – Prosperity Bank CD 08/22/22 2,502,875 2,502,875 – – – – – Prosperity Bank CD 11/17/22 2,002,629 2,002,629 – – – – – Totals 276,385,252$ 198,293,742$ 584,286$ 17,544,854$ 137,307$ 93,010$ 2,508,839$ Book Value March 31, 2021 City of Georgetown Valley View Consulting, L.L.C.1650Page 56 of 144 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA TexPool TexSTAR Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 05/17/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 11/17/22 Totals Book Value March 31, 2021 (Continued) 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 Revenue Electric –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,531,841 68,606 1,429,234 1,420,244 246,565 178,450 97,383 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,531,841$ 68,606$ 1,429,234$ 1,420,244$ 246,565$ 178,450$ 97,383$ City of Georgetown Valley View Consulting, L.L.C.1751Page 57 of 144 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA TexPool TexSTAR Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 05/17/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 11/17/22 Totals Book Value March 31, 2021 (Continued) 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,746,916 56,700 672,317 445,286 6,628,059 4,686,290 87,973 – – – – – – – – – – – – – – 2,011,708 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,000,345 – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 11,758,969$ 56,700$ 672,317$ 445,286$ 6,628,059$ 6,686,290$ 87,973$ City of Georgetown Valley View Consulting, L.L.C.1852Page 58 of 144 City - Allocation JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA TexPool TexSTAR Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 05/17/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 11/17/22 Totals Book Value March 31, 2021 (Continued) 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Electric 2020 Revenue- Water/WW Electric-LCRA Transformers –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,247,736 1,910,744 650,627 8,547,474 486,572 6,675,600 4,396,545 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,247,736$ 1,910,744$ 650,627$ 8,547,474$ 486,572$ 6,675,600$ 4,396,545$ City of Georgetown Valley View Consulting, L.L.C.1953Page 59 of 144 City - Allocation March 31, 2021 Market Value Investment Total Consolidated 2014 Revenue Water WW Debt Service 2015 CO- Parks/Streets/ Vehicles 2015 CO- Stormwater 2015 GO- Roads JPMorgan Chase Cash 15,550,035$ 15,550,035$ –$ –$ –$ –$ –$ JPMorgan Chase MMA 434,048 434,048 – – – – – Veritex Bank MMA 3,213,253 3,213,253 – – – – – NexBank MMA 7,372,182 7,372,182 – – – – – TexPool 58,862,442 58,862,442 – – – – – TexSTAR 85,232,871 20,153,413 584,286 17,544,854 137,307 93,010 2,508,839 Prosperity Bank CD 04/01/21 4,006,098 4,006,098 – – – – – Independent Bank CD 04/22/21 4,193,238 4,193,238 – – – – – Bank OZK CD 05/10/21 12,070,246 10,058,538 – – – – – Southside Bank CD 06/11/21 5,005,456 5,005,456 – – – – – Bank OZK CD 06/11/21 5,007,443 5,007,443 – – – – – Prosperity Bank CD 07/01/21 4,012,075 4,012,075 – – – – – Prosperity Bank CD 07/15/21 5,017,615 5,017,615 – – – – – Prosperity Bank CD 08/10/21 3,000,345 – – – – – – Prosperity Bank CD 08/23/21 6,257,488 6,257,488 – – – – – R Bank CD 08/25/21 2,000,000 – – – – – – East West Bank CD 09/09/21 4,072,454 4,072,454 – – – – – East West Bank CD 10/08/21 5,002,388 5,002,388 – – – – – Prosperity Bank CD 10/14/21 2,503,100 2,503,100 – – – – – Independent Bank CD 10/18/21 2,549,159 2,549,159 – – – – – Prosperity Bank CD 11/22/21 3,002,957 3,002,957 – – – – – Texas Regional Bank CD 12/07/21 3,000,000 – – – – – – East West Bank CD 12/30/21 3,001,588 3,001,588 – – – – – East West Bank CD 01/07/22 5,002,388 5,002,388 – – – – – Prosperity Bank CD 01/21/22 4,004,960 4,004,960 – – – – – Independent Bank CD 02/05/22 3,000,000 3,000,000 – – – – – Independent Bank CD 02/08/22 5,000,000 4,000,000 – – – – – R Bank CD 02/25/22 2,000,000 – – – – – – Prosperity Bank CD 04/21/22 2,503,617 2,503,617 – – – – – Independent Bank CD 05/17/22 4,000,000 4,000,000 – – – – – Prosperity Bank CD 05/17/22 2,002,300 2,002,300 – – – – – Prosperity Bank CD 08/22/22 2,502,875 2,502,875 – – – – – Prosperity Bank CD 11/17/22 2,002,629 2,002,629 – – – – – Totals 276,385,252$ 198,293,742$ 584,286$ 17,544,854$ 137,307$ 93,010$ 2,508,839$ City of Georgetown Valley View Consulting, L.L.C.2054Page 60 of 144 City - Allocation March 31, 2021 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA TexPool TexSTAR Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 05/17/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 11/17/22 Totals (Continued) 2015 Revenue Water WW 2016 CO- Streets/ Facilities/ Equip 2016 GO- Roads 2016 Revenue Water/WW Garey Park Donation 2017 CO Facilities/ Public Safety/ Equipment 2017 Revenue Electric –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,531,841 68,606 1,429,234 1,420,244 246,565 178,450 97,383 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,531,841$ 68,606$ 1,429,234$ 1,420,244$ 246,565$ 178,450$ 97,383$ City of Georgetown Valley View Consulting, L.L.C.2155Page 61 of 144 City - Allocation March 31, 2021 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA TexPool TexSTAR Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 05/17/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 11/17/22 Totals (Continued) 2017 Revenue Water WW 2018 CO- Airport 2018 CO- Streets/ Facilities/ Equip 2018 GO- Parks 2018 GO- Roads 2019 CO- Streets/ Facilities/ Equip 2019 CO- Stormwater –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,746,916 56,700 672,317 445,286 6,628,059 4,686,290 87,973 – – – – – – – – – – – – – – 2,011,708 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,000,345 – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 11,758,969$ 56,700$ 672,317$ 445,286$ 6,628,059$ 6,686,290$ 87,973$ City of Georgetown Valley View Consulting, L.L.C.2256Page 62 of 144 City - Allocation March 31, 2021 Market Value JPMorgan Chase Cash JPMorgan Chase MMA Veritex Bank MMA NexBank MMA TexPool TexSTAR Prosperity Bank CD 04/01/21 Independent Bank CD 04/22/21 Bank OZK CD 05/10/21 Southside Bank CD 06/11/21 Bank OZK CD 06/11/21 Prosperity Bank CD 07/01/21 Prosperity Bank CD 07/15/21 Prosperity Bank CD 08/10/21 Prosperity Bank CD 08/23/21 R Bank CD 08/25/21 East West Bank CD 09/09/21 East West Bank CD 10/08/21 Prosperity Bank CD 10/14/21 Independent Bank CD 10/18/21 Prosperity Bank CD 11/22/21 Texas Regional Bank CD 12/07/21 East West Bank CD 12/30/21 East West Bank CD 01/07/22 Prosperity Bank CD 01/21/22 Independent Bank CD 02/05/22 Independent Bank CD 02/08/22 R Bank CD 02/25/22 Prosperity Bank CD 04/21/22 Independent Bank CD 05/17/22 Prosperity Bank CD 05/17/22 Prosperity Bank CD 08/22/22 Prosperity Bank CD 11/17/22 Totals (Continued) 2019 GO- Roads 2020 CO- Facilities/ Equip/Parks 2020 CO- Stormwater 2020 GO- Roads 2020 Revenue- Electric 2020 Revenue- Water/WW Electric-LCRA Transformers –$ –$ –$ –$ –$ –$ –$ – – – – – – – – – – – – – – – – – – – – – – – – – – – – 1,247,736 1,910,744 650,627 8,547,474 486,572 6,675,600 4,396,545 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 2,000,000 – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – – 3,247,736$ 1,910,744$ 650,627$ 8,547,474$ 486,572$ 6,675,600$ 4,396,545$ City of Georgetown Valley View Consulting, L.L.C.2357Page 63 of 144 Georgetown Economic Development Corporation (GEDCO) QUARTERLY INVESTMENT REPORT For the Quarter Ended June 30, 2021 Prepared by Valley View Consulting, L.L.C. ___________________________________ _____________________________________ Leigh Wallace Nathan Parras Finance Director Assistant Finance Director ___________________________________ _____________________________________ Karrie Pursley Elaine Wilson Treasurer Assistant Finance Director The investment portfolio of the Georgetown Economic Development Corporation (GEDCO) is in compliance with the Texas Public Funds Investment Act and the Investment Policy and Strategies. Disclaimer:These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees. 58Page 64 of 144 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield MMA 2,130,611$ 2,130,611$ 2,131,057$ 2,131,057$ 0.08% Pools 6,964,887 6,964,887 7,601,901 7,601,901 0.02% Certificates of Deposit 2,000,000 2,000,000 2,001,170 2,001,170 0.24% 11,095,498$ 11,095,498$ 11,734,129$ 11,734,129$ 0.07% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.07%Total Portfolio 0.19% Rolling Three Month Treasury 0.02%Rolling Three Month Treasury 0.06% Rolling Six Month Treasury 0.06%Rolling Six Month Treasury 0.09% TexPool 0.01%TexPool 0.04% Interest income provided in separate report. March 31, 2021 (1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank, pool, and money market balances. (2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. June 30, 2021 Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.159Page 65 of 144 Economic Overview 6/30/2021 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading <0.10%), and projects that reduced rates could remain into 2023. First Quarter GDP posted +6.4% (Final). In June, Payrolls added 850k and Unemployment (U2) rose slightly to 5.9%. Crude oil traded up to +/-$75 per barrel. The Stock Markets reached new highs. Housing, Industrial Production, Durable Goods, Consumer Spending, and other indicators moderated and showed signs of strain. The Biden administration and Congress continue to negotiate an infrastructure package. Inflation surged over the FOMC 2+% target, but is considered to be temporary. The Yield Curve "humped" slightly in the two-to-three year maturity sector while the long end fell. 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 3,500 3,750 4,000 4,250 4,500 4,750 S&P 500 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 US Treasury Historical Yields - Since Nov 2015 Six Month T-Bill Two Year T-Note Ten Year T-Note 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Treasury Yield Curves June 30, 2020 March 31, 2021 June 30, 2021 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 US Treasury Historical Yields - Since 2006 Six Month T-Bill Two Year T-Note Ten Year T-Note Valley View Consulting, L.L.C.260Page 66 of 144 Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield Veritex Bank MMA 0.08% 07/01/21 06/30/21 2,131,057$ 2,131,057$ 1.00 2,131,057$ 1 0.08% TexasDAILY AAAm 0.03% 07/01/21 06/30/21 2,125,828 2,125,828 1.00 2,125,828 1 0.03% TexSTAR AAAm 0.01% 07/01/21 06/30/21 5,476,074 5,476,074 1.00 5,476,074 1 0.01% Veritex Bank CD 0.24% 08/05/22 02/08/21 2,001,170 2,001,170 100.00 2,001,170 401 0.24% 11,734,129$ 11,734,129$ 11,734,129$ 69 0.07% (1) (2) June 30, 2021 (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.361Page 67 of 144 MMA 18% Pools 65% Certificates of Deposit 17% GEDCO PORTFOLIO COMPOSITION $0 $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 09/30/20 12/31/20 3/31/2021 6/30/2021 GEDCO PORTFOLIO BALANCES CD TexasDAILY TexSTAR Money Market Georgetown Economic Development Corporation (GEDCO) Valley View Consulting, L.L.C. 462Page 68 of 144 Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 03/31/21 Increases Decreases Book Value 06/30/21 Market Value 03/31/21 Change in Market Value Market Value 06/30/21 Veritex Bank MMA 0.08% 07/01/21 2,130,611$ 445$ –$ 2,131,057$ 2,130,611$ 445$ 2,131,057$ TexasDAILY 0.03% 07/01/21 2,125,613 215 – 2,125,828 2,125,613 215 2,125,828 TexSTAR 0.01% 07/01/21 4,839,274 636,800 – 5,476,074 4,839,274 636,800 5,476,074 Veritex Bank CD 0.24% 08/05/22 2,000,000 1,170 – 2,001,170 2,000,000 1,170 2,001,170 TOTAL / AVERAGE 0.07%11,095,498$ 638,630$ –$ 11,734,129$ 11,095,498$ 638,630$ 11,734,129$ Georgetown Economic Development Corporation (GEDCO)Valley View Consulting, L.L.C.563Page 69 of 144 Georgetown Transportation Enhancement Corporation (GTEC) QUARTERLY INVESTMENT REPORT For the Quarter Ended June 30, 2021 Prepared by Valley View Consulting, L.L.C. ________________________________________________________________________ Leigh Wallace Nathan Parras Finance Director Assistant Finance Director ________________________________________________________________________ Karrie Pursley Elaine Wilson Treasurer The investment portfolio of the Georgetown Transportation Enhancement Corporation (GTEC) is in compliance with the Texas Public Funds Investment Act and the Investment Policy and Strategies. Disclaimer:These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C. from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not representative of total return yields and do not account for investment advisor fees. Assistant Finance Director 64Page 70 of 144 Summary Quarter End Results by Investment Category: Asset Type Book Value Market Value Book Value Market Value Ave. Yield Pools/MMAs 30,076,153$ 30,076,153$ 39,417,553$ 39,417,553$ 0.02% CDs/Securities 3,006,965 3,006,965 3,009,998 3,009,998 0.40% Totals 33,083,118$ 33,083,118$ 42,427,551$ 42,427,551$ 0.04% Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2) Total Portfolio 0.04%Total Portfolio 0.07% Rolling Three Month Treasury 0.02%Rolling Three Month Treasury 0.06% Rolling Six Month Treasury 0.06%Rolling Six Month Treasury 0.09% TexPool 0.01%TexPool 0.04% Interest data provided in separate report. March 31, 2021 (1)Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank, pool, and money market balances. (2)Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. June 30, 2021 Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.165Page 71 of 144 Economic Overview 6/30/2021 The Federal Open Market Committee (FOMC) maintained the Fed Funds target range at 0.00% to 0.25% (Effective Fed Funds are trading <0.10%), and projects that reduced rates could remain into 2023. First Quarter GDP posted +6.4% (Final). In June, Payrolls added 850k and Unemployment (U2) rose slightly to 5.9%. Crude oil traded up to +/-$75 per barrel. The Stock Markets reached new highs. Housing, Industrial Production, Durable Goods, Consumer Spending, and other indicators moderated and showed signs of strain. The Biden administration and Congress continue to negotiate an infrastructure package. Inflation surged over the FOMC 2+% target, but is considered to be temporary. The Yield Curve "humped" slightly in the two-to-three year maturity sector while the long end fell. 0 250 500 750 1,000 1,250 1,500 1,750 2,000 2,250 2,500 2,750 3,000 3,250 3,500 3,750 4,000 4,250 4,500 4,750 S&P 500 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 US Treasury Historical Yields - Since Nov 2015 Six Month T-Bill Two Year T-Note Ten Year T-Note 0.00 0.20 0.40 0.60 0.80 1.00 1.20 1.40 1.60 1.80 2.00 Treasury Yield Curves June 30, 2020 March 31, 2021 June 30, 2021 0.00 0.50 1.00 1.50 2.00 2.50 3.00 3.50 4.00 4.50 5.00 5.50 6.00 US Treasury Historical Yields - Since 2006 Six Month T-Bill Two Year T-Note Ten Year T-Note Valley View Consulting, L.L.C.266Page 72 of 144 Investment Holdings Coupon/Maturity Settlement Face Amount/Book Market Market Life Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield TexPool AAAm 0.01% 07/01/21 06/30/21 18,186,491$ 18,186,491$ 1.00 18,186,491$ 1 0.01% TexSTAR AAAm 0.01% 07/01/21 06/30/21 18,542,059 18,542,059 1.00 18,542,059 1 0.01% Veritex Bank MMA 0.08% 07/01/21 06/30/21 2,689,003 2,689,003 1.00 2,689,003 1 0.08% Prosperity Bank CD 0.40% 08/23/21 08/21/20 3,009,998 3,009,998 100.00 3,009,998 54 0.40% TOTALS 42,427,551$ 42,427,551$ 42,427,551$ 5 0.04% (1) (2) June 30, 2021 (1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity. (2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds. Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.367Page 73 of 144 Pools/MMAs 93% CDs/Securities 7% GTEC PORTFOLIO COMPOSITION $0 $5,000,000 $10,000,000 $15,000,000 $20,000,000 $25,000,000 $30,000,000 $35,000,000 $40,000,000 $45,000,000 9/30/2020 12/31/2020 3/31/2021 6/30/2021 GTEC PORTFOLIO BALANCES CD TexPool TexSTAR Money Market Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C. 468Page 74 of 144 Book & Market Value Comparison Issuer/Description Yield Maturity Date Book Value 03/31/21 Increases Decreases Book Value 06/30/21 Market Value 03/31/21 Change in Market Value Market Value 06/30/21 TexPool 0.01% 07/01/21 15,639,313$ 2,547,177$ –$ 18,186,491$ 15,639,313$ 2,547,177$ 18,186,491$ TexSTAR 0.01% 07/01/21 11,748,398 6,793,661 – 18,542,059 11,748,398 6,793,661 18,542,059 Veritex Bank MMA 0.08% 07/01/21 2,688,441 562 – 2,689,003 2,688,441 562 2,689,003 Prosperity Bank CD 0.40% 08/23/21 3,006,965 3,033 – 3,009,998 3,006,965 3,033 3,009,998 TOTAL / AVERAGE 0.04%33,083,118$ 9,344,433$ –$ 42,427,551$ 33,083,118$ 9,344,433$ 42,427,551$ Georgetown Transportation Enhancement Corporation (GTEC)Valley View Consulting, L.L.C.569Page 75 of 144 Department Federal Grantor Pass-Through Agency Identifying Number COG Name/Purpose YTD Expenditures YTD Revenue Recognized Airport N/A Texas Department of Transportation-Aviation M1914GEOR RAMP Grant - Routine Airport Maintenance Program 69,904.04 - Airport FEMA Texas Department of Transportation - Aviation Airport CARES Funding 156,980.34 156,980.34 Emergency Management FEMA Williamson County WILCO Forward - CARES Funding for COVID-19 96,260.00 96,260.00 Emergency Management FEMA TDEM DR-4586 Winter Storm Uri Recovery 2,258,648.00 Emergency Management US Dept. of the Treasury American Rescue Plan Act SLFRF Funding 65,459.00 4,014,753.00 Fire Department of Health & Human Services CMS (Centers for Medicare & Medicaid Services) EMS CARES Round 1 - - Fire US Department of Homeland Security Federal Emergency Management Agency EMW-2017-FH-00496 SAFER 822,918.15 470,104.81 Library National Endowment for the Arts National Endowment for the Arts COVID Relief Funding 9,014.11 - Library Texas Commission on the Arts Touring Artist Fund Grant 4,200.00 Planning US Department of Housing & Urban Development Williamson County CDBG Home Repair 43,059.77 40,920.32 Police US. Department of Justice N/A TX2460200 Equitable Sharing Agreement 25,523.52 34,920.95 Police US. Department of Treasury N/A TX2460200 Equitable Sharing Agreement - - Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-187 Highway Planning & Construction (Austin Ave Bridge) 15,763.61 - Public Works Dept. of Transportation /Federal Highway Administration Texas Department of Transportation CSJ-0914-05-200,201,202 Highway Planning & Construction (Williams Dr Corridor) - - Reviewed By: Elaine Wilson CITY OF GEORGETOWN Grant/Federal Funding Report as of June 30, 2021 Active 70Page 76 of 144 Capital Improvement Projects Life to Date Budget vs Spend Project Budget vs Actuals Total Budget Total Spend Remaining Budget Percent Remaining Active Airport Management Services PRJ000184 Airport Maintenance Facility 750,000 - 750,000 100% Management Services Total 750,000 - 750,000 100% Airport Total 750,000 - 750,000 100% CDBG CDBG PRJ000003 17th Street 193,000 175,137 17,863 9% CDBG Total 193,000 175,137 17,863 9% CDBG Total 193,000 175,137 17,863 9% Electric Electric PRJ000022 Consultant Engineering 271,352 87,857 183,495 68% PRJ000026 Db Wood_Sh29 Intersection 240,000 172,024 67,976 28% PRJ000036 Electrical System Improvement 100,000 57 99,943 100% PRJ000040 Fiber Optic 50,000 19,516 30,484 61% PRJ000062 New Development Projects 4,194,840 5,834,510 (1,639,670) -39% PRJ000073 Power Quality Improvements 50,000 - 50,000 100% PRJ000095 Shell Road Feeders 160,000 181,824 (21,824) -14% PRJ000147 Sectionalization Improvements 100,000 2,550 97,450 97% PRJ000175 I-35 Mobility Project TxDot 200,000 205,774 (5,774) -3% PRJ000189 Ronald Reagan - Glasscock Feeder Extension along Hwy 195 -Phase I 560,000 39,859 520,141 93% PRJ000192 Ronald Reagan - Glasscock Feeder extension along Hwy 195 - Phase II 591,250 208,011 383,239 65% PRJ000195 Downtown Overhead Rehab 2,400,000 - 2,400,000 100% PRJ000221 Titan-Aviation Dr to IH35 Infrastructure Addition 1,000,000 254,432 745,568 75% PRJ000225 Chapel Hill, WS-11139 (GEO-45-C.3)437,577 351,949 85,628 20% PRJ000226 Wolf Ranch West - Section 1AG & 1BG 479,052 339,435 139,617 29% PRJ000227 Ascend Westinghouse Apartments 444,598 231,132 213,465 48% PRJ000229 Sun City NH 76 WS-11188 (GEO-18.2-N.51)274,030 103,520 170,510 62% PRJ000230 Sun City NH 78 296,400 111,101 185,299 63% PRJ000231 Georgetown Titan Development 1 & 2 140,428 29,241 111,187 79% PRJ000232 Texas Outdoor Power Building 1 91,414 58,223 33,191 36% PRJ000234 Summit at Westinghouse Self-Storage 49,685 26,505 23,180 47% PRJ000236 Medcore (Georgetown) Senior Living 226,972 202,268 24,703 11% PRJ000238 The Oscar at Georgetown 366,351 211,520 154,830 42% PRJ000239 Wolf Ranch West - Section 3 - Phase 2 418,339 - 418,339 100% PRJ000242 Allora North Georgetown 557,422 - 557,422 100% PRJ000243 Fairfield Inn - WS11346 131,340 - 131,340 100% PRJ000245 Morgan Mays Street Apartments 452,508 - 452,508 100% PRJ000246 Vida Apartments 396,497 - 396,497 100% Electric Total 14,680,054 8,671,310 6,008,745 41% Electric Total 14,680,054 8,671,310 6,008,745 41% GCP Environmental Services PRJ000116 Transfer Station 11,000,000 947,801 10,052,199 91% Environmental Services Total 11,000,000 947,801 10,052,199 91% Finance PRJ000038 ERP Project 6,231,654 5,898,066 333,588 5% Finance Total 6,231,654 5,898,066 333,588 5% Fire PRJ000134 SCBA Replacement 870,000 - 870,000 100% PRJ000135 Cardiac Monitors 483,517 483,517 - 0% Fire Total 1,353,517 483,517 870,000 64% 71Page 77 of 144 Capital Improvement Projects Life to Date Budget vs Spend Project Budget vs Actuals Total Budget Total Spend Remaining Budget Percent Remaining Fleet PRJ000124 Radio Replacement 363,278 179,219 184,059 51% Fleet Total 363,278 179,219 184,059 51% GTEC Department PRJ000203 FM1460 Widening 600,984 48,982 552,002 92% PRJ000206 NB Front Rd (2338 To Lakeway) 216,000 221,766 (5,766) -3% GTEC Department Total 816,984 270,748 546,236 67% Management Services PRJ000028 Downtown Parking Expansion 728,510 701,947 26,564 4% PRJ000029 Downtown Parking Garage 411,815 411,815 - 0% PRJ000033 Dtwn Landsping & Public Art 90,000 56,706 33,294 37% PRJ000037 EOC Siren System 15,525 6,961 8,564 55% PRJ000042 Fire Station 6 5,500,000 5,330,424 169,576 3% PRJ000043 Fire Station 7 7,198,744 6,484,206 714,538 10% PRJ000067 Parking Improvements 68,510 - 68,510 100% PRJ000131 Fuel Station 1,100,000 61,088 1,038,913 94% PRJ000136 GMC Remodel Phase I 250,000 30,614 219,386 88% PRJ000178 Public Safety Operation and Training Center Phase II 4,500,000 91,649 4,408,351 98% PRJ000179 Recreation Center Teen/Senior Renovation 200,000 - 200,000 100% PRJ000180 Recreation Center Natatorium HVAC Replacement 700,000 663,596 36,404 5% PRJ000191 Georgetown City Center - Festival/Public Space 5,400,000 24,124 5,375,876 100% PRJ000223 City Center Signage 125,000 - 125,000 100% Management Services Total 26,288,105 13,863,129 12,424,975 47% Parks PRJ000048 Garey Park 15,346,730 15,100,250 246,480 2% PRJ000089 San Gabriel Park Improvement 13,025,000 7,448,252 5,576,748 43% PRJ000125 Parks Master Plan 229,998 229,998 - 0% PRJ000126 Regional Trail Development 1,550,000 138,100 1,411,900 91% PRJ000127 Neighborhood Park Development 1,250,000 240,541 1,009,459 81% PRJ000129 Ada Transition Plan 1,075,982 695,964 380,018 35% PRJ000130 Tennis Center Pool Demo 40,002 39,076 926 2% PRJ000190 Heritage Gardens 274,934 129,840 145,094 53% Parks Total 32,792,646 24,022,022 8,770,624 27% Police PRJ000133 Body Cameras 800,000 737,412 62,588 8% Police Total 800,000 737,412 62,588 8% Public Works Department PRJ000013 Austin Avenue Bridge 2,855,398 1,714,763 1,140,635 40% PRJ000137 Intersection Improvements (Lakeway @ Williams Drive)1,400,000 252,450 1,147,550 82% PRJ000138 Downtown Sidewalks 2,000,000 1,435,694 564,306 28% PRJ000139 Westinghouse - Scenic Lake Traffic Signal 600,000 343,447 256,553 43% PRJ000141 Southwestern Blvd 4,200,000 866,960 3,333,040 79% PRJ000143 Leander Rd(Norwood-Swbypass)6,750,000 994,025 5,755,975 85% PRJ000171 Shell Rd Sidewalk 229,825 203,755 26,070 11% PRJ000188 DB Wood (SH 29 to Oak Ridge)4,000,000 1,703,636 2,296,364 57% PRJ000201 Austin Ave. (Sh29-Fm2243)466,000 466,000 - 0% PRJ000202 FM 971 5,200,998 4,476,983 724,015 14% PRJ000207 Northwest Blvd Bridge 11,254,320 11,449,791 (195,471) -2% PRJ000209 Southeast Inner Loop 10,521,000 8,882,549 1,638,451 16% PRJ000214 Intersection Improvements (Traffic Signals)1,650,000 504,877 1,145,123 69% 72Page 78 of 144 Capital Improvement Projects Life to Date Budget vs Spend Project Budget vs Actuals Total Budget Total Spend Remaining Budget Percent Remaining PRJ000215 2021 Intersection Safety Enhancements (RRFB)150,000 96,450 53,550 36% PRJ000216 FY21 Downtown Sidewalk Improvements 1,000,000 130,000 870,000 87% PRJ000217 SW Bypass - Wolf Ranch Extension 1,000,000 633,943 366,057 37% Public Works Department Total 53,277,541 34,155,324 19,122,218 36% Right of Way PRJ000200 Access Rtw To Government Srv 220,000 220,000 - 0% Right of Way Total 220,000 220,000 - 0% GCP Total 133,143,724 80,777,237 52,366,487 39% General Capital Projects Parks PRJ000240 South Main Plaza 9,950 9,950 - 0% PRJ000244 Grace Heritage Plaza 90,000 - 90,000 100% Parks Total 99,950 9,950 90,000 90% General Capital Projects Total 99,950 9,950 90,000 90% GTEC GTEC Department PRJ000046 FM 971/ Fontana (Nw Bridge)1,209,000 1,206,390 2,610 0% PRJ000053 IH 35/ Hwy 29 Intersection Imp 1,800,000 120,066 1,679,934 93% PRJ000060 Rabbit Hill Road 4,100,000 208,022 3,891,978 95% PRJ000083 Rivery Tia Improvements 1,179,000 1,110,970 68,030 6% PRJ000145 Sh29 Signal And Roadway Improvements 1,595,000 379,089 1,215,911 76% PRJ000181 Aviation Drive 10,300,000 1,252,353 9,047,647 88% GTEC Department Total 20,183,000 4,276,889 15,906,111 79% GTEC Total 20,183,000 4,276,889 15,906,111 79% Stormwater Stormwater PRJ000004 18th and Hutto Drainage 50,000 5,969 44,031 88% PRJ000005 2nd and Rock Pond 625,000 447,151 177,849 28% PRJ000024 2020 Curb & Gutter 1,055,000 766,902 288,098 27% PRJ000104 Stormwater Infrastructure 347,000 168,506 178,495 51% PRJ000148 Water Quality Ponds 98,000 - 98,000 100% PRJ000149 Drainage Improvement/Flood Mitigation Projects 300,000 - 300,000 100% PRJ000213 2021 Curb & Gutter Project 500,000 64,300 435,700 87% Stormwater Total 2,975,000 1,452,828 1,522,172 51% Stormwater Total 2,975,000 1,452,828 1,522,172 51% Street Tax Public Works Department PRJ000172 2020 Street Maintenance High Performance Seal: Bid Package No.1 372,200 293,620 78,580 21% PRJ000173 2020 Street Maintenance High Performance Seal: Bid Package No. 2 463,195 337,719 125,476 27% PRJ000174 2020 street maintenance HIPR 1,935,589 1,441,013 494,576 26% PRJ000210 2021 HIPR Street Maintenance 2,300,000 1,936,885 363,115 16% PRJ000211 2021 High Performance Pavement Seal Project #1 750,000 94,900 655,100 87% PRJ000212 2021 High Performance Pavement Seal Project #2 600,000 576,567 23,433 4% PRJ000237 Northeast Inner Loop (Stadium to FM971) Emergency Repairs 700,000 737,756 (37,756) -5% Public Works Department Total 7,120,983 5,418,460 1,702,523 24% Street Tax Total 7,120,983 5,418,460 1,702,523 24% Water Water PRJ000014 Berry Creek Inter.49,949,000 1,534,653 48,414,347 97% PRJ000016 Braun Est 4,750,000 1,290,458 3,459,542 73% PRJ000017 Cedar Breaks Est 3,385,000 236,730 3,148,270 93% PRJ000023 Cr 255 (Wd14-2)1,493,963 323,841 1,170,122 78% PRJ000025 Db Wood/ Pastor 24 Dedicated 5,286,000 440,726 4,845,274 92% PRJ000034 Earz 2,326,000 493,493 1,832,507 79% 73Page 79 of 144 Capital Improvement Projects Life to Date Budget vs Spend Project Budget vs Actuals Total Budget Total Spend Remaining Budget Percent Remaining PRJ000057 Lift Station Upgrade 1,173,593 - 1,173,593 100% PRJ000059 LWTP Raw Water Intake Rehab 6,750,000 6,657,072 92,928 1% PRJ000066 Park Lift Station & Force Main 3,574,341 2,206,592 1,367,749 38% PRJ000069 Pecan Branch Ph 2 253,000 238,041 14,959 6% PRJ000075 Pumps & Storage 1,009,289 9,289 1,000,000 99% PRJ000076 Rabbit Hill Est 1,826,000 873,294 952,706 52% PRJ000085 Ronald Reagan/Daniels Mountain 4,400,000 170,580 4,229,420 96% PRJ000088 San Gabriel Belt Press and Rehab 3,200,000 2,594,238 605,762 19% PRJ000096 Shell Road Water Line 6,890,000 1,049,455 5,840,545 85% PRJ000101 Southlake Wtp 100,000,000 12,223,397 87,776,603 88% PRJ000119 Water Mains 1,537,000 516,275 1,020,725 66% PRJ000123 WW Interceptors 608,431 - 608,431 100% PRJ000150 Carriage Oaks Transmission 500,000 - 500,000 100% PRJ000151 FY2020 CR262 Waterline 500,000 - 500,000 100% PRJ000152 Hoover Pump Station 6,850,000 855,221 5,994,779 88% PRJ000154 Stonewall Ranch Pump Station Improvements 500,000 - 500,000 100% PRJ000155 Southside Water Treatment Plant 2,250,000 1,003,190 1,246,810 55% PRJ000156 Gatlin/Teravista Improvements 450,000 - 450,000 100% PRJ000157 Leander Interconnect 515,000 49,495 465,505 90% PRJ000158 West loop (H-1A)2,119,000 447,385 1,671,615 79% PRJ000160 Round Rock Supply Pump Station And Elevated Storage Tank 10,500,000 1,427,473 9,072,527 86% PRJ000161 Miscellaneous Line Upgrades 872,000 721,813 150,187 17% PRJ000162 South West Bypass Water (H24-1)2,906,000 2,498,026 407,974 14% PRJ000163 Tank Rehabilitation 2,905,000 455,494 2,449,506 84% PRJ000164 Council Chamber Water 423,000 15,960 407,040 96% PRJ000165 San Gabriel WWTP Rehabilitation 2,500,000 98,000 2,402,000 96% PRJ000167 San Gabriel Inter SGI -2 4,500,000 912,755 3,587,245 80% PRJ000168 WWTP Upgrade 950,000 160,400 789,600 83% PRJ000177 Northlake WTP Phase IV Expansion 15,000,000 11,859,923 3,140,077 21% PRJ000185 Cimarron Hills Wastewater Treatment Plant Expansion 800,000 799,325 675 0% PRJ000218 EARZ Wastewater Rehabilitation Area 2 - 2019 2,460,360 2,460,360 - 0% PRJ000219 Southside GST Foundation Improvements 535,678 535,678 - 0% PRJ000220 AMI Western District Improvements 750,000 - 750,000 100% PRJ000228 Southside GST Roof Rehab 567,000 547,000 20,000 4% PRJ000241 2020 - 2021 EARZ - Area 3 1,500,000 378,650 1,121,350 75% Water Total 259,264,655 56,084,283 203,180,371 78% Water Total 259,264,655 56,084,283 203,180,371 78% Active Total 438,410,367 156,866,094 281,544,272 64% Grand Total 438,410,367 156,866,094 281,544,272 64% 74Page 80 of 144 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 3/31/21 Status Updates ‐ 6/30/21 Cemetery Special Revenue  Fund Perpetual Reserve Currently cemetery operations are self‐funded through  plot sales of approximately $50K per year. The cemetery is  managed through Parks Administration. In 2015, Council  elected to transfer $75,000 annually for future costs  associated with maintaining the property.  The General  Fund has made this transfer in since FY 2016. While the  perpetual reserve has grown slowly, it is not on pace to  sustain the Cemetery Fund long‐term. The fund is  estimated to need a $5 million balance to be self‐ sustaining on interest earnings and cemetery revenue. The general fund transfer for FY2021 was reduced to  $35,000.   The FY2021 projected ending fund balance is $650,000.  The general fund transfer was restored to the $75,000  in the FY2022 budget.   Unfunded Actuarial Accrued  Liability (UAAL) Recognizes the outstanding liability for the City’s  employee retirement plan through TMRS.  The City  contributes monthly to fund the UAAL, based on an annual  percentage of payroll. Actual % of payroll costs is  recognized within each fund. The UAAL is provided by  TMRS and lags one year. As of 9/30/2020, the net pension liability is $18.7  million and is 88.97% funded. This decrease in liability  is due to a change in the actuarial assumptions. No Change Other Post Employee Benefits  (OPEB) While the City has no obligation to offer additional retiree  benefits, retirees are eligible to participate in the City’s  health insurance program.  That ability represents a  subsidy that impacts health insurance costs to the City.  Retirees pay their monthly premiums to the self insurance  fund, which then processes their health insurance claims.    OPEB liability as of 9/30/2020 is $2.7 million. This is a  combination of sudden death benefits as well as post‐ retirement healthcare. No Change Compensated Absence Future costs associated with benefits such as vacation, and  sick leave for City employees. Compensated Absence is  accrued annually to each proprietary fund type on a GAAP  basis and accounted for on the balance sheet of each fund.  For governmental funds (and for budgetary basis), the  expense is recognized when due and payable.  The City  keeps a reserve in the General Fund to help offset large  payouts for long‐term employees. The reserve is used as  needed, and annually replenished or increased based on  known risk. Compensated absences as of 9/30/2020 are $8.2  million. More time was earned than used during  FY2020 as many plans were changed related to the  pandemic. The City did not extend any vacation cap  carry overs in general. As with any year, specific  requests for carryover are considered and approved  by the City Manager. No Change CITY OF GEORGETOWN Long-term Commitments, Reservations, and Other Unfunded Liabilities 6/30/2021 75Page 81 of 144 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 3/31/21 Status Updates ‐ 6/30/21 Electric Fund Rate  Stabilization Reserve Intended to mitigate potential rate impacts due to  increased purchased power costs or other external factors.  The RSR is maintained within the Electric Fund.  During the February Winter Storm Uri, the Electric  Fund incurred an additional $48 million in energy  market costs. The City issued a debt instrument that  will be paid from current PCA rates. There are no  expected changes to Electric reserves. During the annual review of fiscal policies for the  FY2022 budget, Finance and Electric staff recommended  updating the Electric Rate Stabilization Reserve Policy.  GGAF and Council agreed to change the reserve target  from 10% of purchased power costs, to an average of 3  months of purchased power costs. The Electric Fund  FY2021 projected ending fund balance is $32.3 million.  Of that, $18.6 million is reserve for Rate Stabilization,  which is a fully funded reserve.  Airport Maintenance Fund on‐going maintenance of the Airport grounds,  runways and taxi ways.  Terminal and Tower included in  Facilities ISF. An Airport Master Plan was developed to  address long term capital maintenance project  prioritization.  Continued maintenance on buildings and pavement  surfaces.  We will have to do pavement sealing on  Taxiway A to prevent early deterioration.  This will  include a seal coat and repainting of all markings.  We  have prepared all documentation and supporting  evidence for CRRSA (the 2nd relief grant) for  reimbursement.  We are waiting on TxDOT to  establish the process.  This will be ~$57K.  The relief  grant has yet to be established by the FAA.  We expect  to get another award for that as well.   No Change Americans with Disabilities  Act (ADA) Compliance Needs As facilities are built or repurposed, meeting ADA  compliance will be included in Project Costs.  Funding for  program expansion will be needed (General Fund sources).  The City has an adopted policy, as required by Federal  Law, that it will make reasonable accommodations and  modifications to ensure that people with disabilities have  an equal opportunity to enjoy its programs, services, and  activities. The City does not maintain a reserve for these  modifications. A competitive sealed bid has been completed for  ADA repairs along the South San Gabriel River  Trail. The contract is in Legal for review.   ADA trail improvements along the South San  Gabriel Trail have begun and consist of  replacement of non‐compliant sections of trail from  Chandler Park to just west of Interstate 35.  ADA  improvements to Summercrest Park, Old Town  Park, Edwards Park, and Bark Park have been  completed. 76Page 82 of 144 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 3/31/21 Status Updates ‐ 6/30/21 Sidewalk Maintenance &  Masterplan Currently, new sidewalks are built as development occurs.   Repairs are funded as needed or if funding is available,  when major roads are repaired.  Useful life of a sidewalk is  estimated at 40 to 50 years. The largest revenue source  comes from the City’s General Fund, but there has been  some debt funding as well.  Rock Sidewalk/FY 20 Downtown ADA Sidewalk  Improvements. Project is awarded to Choice Builders.  Construction to begin in May 2021.  FY21 Downtown  ADA Sidewalk improvements will be a continuation of  Downtown ADA improvements and closing gaps.  Design for this project will begin in May 2021. The  mobility bond passed in the May election, providing  new funding over the next 7 years for sidewalks. Rock Sidewalk/FY 20 Downtown ADA Sidewalk  Improvements. Project is in construction. Contractor  working along Rock Street at this time. Should be  completed with the Rock Street area from 9th to 7th by  the end of August and then moving east of Austin Ave  on 7th.  FY21 Downtown ADA Sidewalk improvements  will be a continuation of Downtown ADA improvements  and closing gaps. Design for this project will begin in  May 2021. The mobility bond passed in the May  election, providing new funding over the next 7 years  for sidewalks. Park Equipment Maintenance  & Replacement Over the past 5 years, funding for Park Maintenance and  Replacement has increased.  $200K transfer from General  Fund included in FY2018 budget.  Staff has listed all assets  & developed replacement schedule funded by the General  Fund. University Park and Raintree Park equipment and the  outdoor pool slides at the Recreation Center were  scheduled to be completed in FY2020.  However,  these were deferred due to financial constraints  related to COVID‐19.  These deferrals total $290,000.   Additionally, the general fund transfer for FY2021 was  reduced from $200,000 to $50,000.  Scheduled  maintenance equipment and replacement projects for  FY2021 total $402,000 not including the FY2021  deferrals.  Staff has evaluated the FY2020 deferrals  and the scheduled FY2021 replacements and  prioritized to complete projects with greatest need.   These total $293,000 and will be completed with the  $50,000 transfer and existing fund balance.   Staff has begun the planning process for redevelopment  of University Park to include playground replacement,  landscape improvements and additional site amenities.  A survey was sent to neighborhood residents and is  currently being reviewed by staff.  A neighborhood  public meeting will be scheduled to discuss the survey  results in September.  The project budget totals  $110,000.         Radio Equipment  Replacement Communication system consisting of 500 on‐body and in‐ vehicle radios for Police, Fire, parks and utilities.  Replacement radios are compatible with newer  technology.  The replacement takes place over 5 years due  to cost and is funded with certificate of obligation debt.  Ordered 22 portable radios for Electric Dept. Ordered  9 mobiles and 4 portables for 911 Communications.  Processing 8 portable radios for Police in Workday.  Still working on the other 35 non‐public safety radios.  Radios for the Electric, 911 Comms, and GPD have been  received and in the process of issued out to the  departments. Finalizing the radio type (mobile or  portable) for the remaining 35 radio replacements.  These will be ordered by late August early September.   77Page 83 of 144 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 3/31/21 Status Updates ‐ 6/30/21 Street Maintenance The City funds street maintenance in the General Fund,  supplemented by a 1/8th Street Sales Tax special revenue  fund. In 2017 and 2018, the Council and GTAB reviewed  various methods for enhanced street maintenance and  costs. Direction from Council is to use high performance  surface seals and pavement wearing courses and begin  programmatically addressing the street network's  deferred maintenance backlog, creating a need for  approximately $2 million more per year for street  maintenance. The Council declined to appropriate any available  fund balance during an April workshop. The February  Winter Storm Uri caused damage to a section of Inner  Loop. The Street Sales Tax Fund will cover the  approximately $700K for repairs. The road is not  eligible for FEMA reimbursement. The FY2022 budget restores $500,000 General Fund  contribution to street maintenance. Fiber Asset Allocation Network fiber infrastructure is installed across the City.  Traditionally, the Electric Fund has installed and  maintained the network. In reviewing all costs for the  Electric Fund, the City has begun moving the fiber asset to  the IT Fund. Staff must develop a multi‐year strategy to  complete the asset transfer and allocate costs for  maintenance. IT has drafted a cost recovery plan for fiber and it is  being evaluated as part of the FY2022 budget  development process.  Cost recovery for the Fiber asset transfer was continued  in the FY 2022 budget, with $665,000 being transferred  from the IT internal service fund to the Electric fund.   IT Capital Replacement  Reserve The purpose of this reserve is to fund the maintenance  and replacement of computer network and other  technology systems. A reserve will be established within  the ISF for replacement of major systems and will be  funded over time through excess revenues within the  Fund.  The targeted amount is the average (1/5th) of the  next five years on the replacement schedule.  IT has drafted a cost recovery plan for fiber and it is  being evaluated as part of the FY2022 budget  development process.  The IT allocation model continues to be structured in a  way that establishes and maintains a reserve in the ISF.   This fund is $270K short of meeting the reserve  requirement for FY2022. Facilities Maintenance  Reserve The City has established an on‐going maintenance  program, which includes major repairs, equipment, as well  as contracts for maintaining City facilities. The City has  anticipated a useful life of such equipment and established  a means of charging those costs to the various  departments in order to recognize the City’s continuing  costs of maintaining its facilities.  Determination for facility  repairs is based on useful life of the various elements of  each facility.  A proportional cost for each element is  expensed within the budget for capital replacement.  The  targeted replacement reserve amount is the average  (1/5th) of the next five years on the replacement schedule.  Facilities has drafted a cost recovery plan for fund  balance reserves and it is being evaluated as part of  the FY2022 budget development process. This reserve is $800K short of meeting the reserve  requirement for FY2022. 78Page 84 of 144 Unfunded Liability &  Commitments Financial Impact/Notes Status Updates ‐ 3/31/21 Status Updates ‐ 6/30/21 Public Safety Equipment  Recurring Line Item Budgets As part of the City’s on‐going maintenance program, the  City also recognizes the need to regularly maintain and  replace specialized equipment in Police and Fire.  Separate  replacement and maintenance schedules will be  maintained for these items including but not limited to for  Fire:   SCBA’s and other firefighting equipment and  protective gear; and for Police: bullet proof vests,  armaments and other tactical equipment.  The City’s goal  is to provide level on‐going funding to ensure proper  protection for employees and residents. The current  funding level is an annual appropriation in the General  Fund of $80,000 for Fire and $88,000 for Police. Due to the economic impacts of the pandemic,  reductions were made to General Fund base budgets  in FY2021, including public safety equipment. There is  no anticipated impact to employee safety. The funds  will need to be restored in FY2022, or as soon as  practical. These funding lines were restored in the FY2022 budget. Joint Services Fund 90 Day  Operational Contingency  Reserve A minimum ninety (90) days of operating expenses will be  reserved for unexpected delays in revenue or emergency  expenses.  Council declined to appropriate any available fund  balance at mid‐year to achieve this goal. The Cost  Allocation Model study was put on hold due to  activities needed to recover from the Winter Storm. This fund is $1.1M short of meeting the reserve  requirement for FY2022. 79Page 85 of 144 General Fund Quarterly Comparison: Q3 FY2021  Budget  Actuals  FY2021 YTD Actuals: Q3 FY2021 Variance % of Budget Projections 2021 Variance Fav/(Unfav)% of Projection Planning Personnel 1,383,026 958,703 424,323 69.32% 1,335,261 376,558 71.80% Operations 593,976 459,031 134,945 77.28% 564,055 105,024 81.38% Operating Capital 1,052 1,052 0 99.96%3,900 2,848 26.96% Planning Total Expense 1,978,054 1,418,785 559,269 71.73% 1,903,216 484,430 74.55% Library Personnel 1,798,754 1,236,657 22,884 68.75% 1,828,761 592,103 67.62% Operations 1,014,150 775,912 26,331 76.51% 1,016,162 240,250 76.36% Operating Capital 25,000 7,960 (7,960) 31.84%7,960 - 100.00% Library Total Expense 2,837,904 2,020,529 41,255 71.20% 2,852,883 832,353 70.82% Parks Administration Personnel 278,450 205,398 73,053 73.76% 276,737 71,339 74.22% Operations 384,437 384,437 0.00% 366,670 366,670 0.00% Parks Administration Total Expense 662,887 467,925 194,962 70.59% 643,407 175,482 72.73% Parks Personnel 1,540,835 1,038,579 502,256 67.40% 1,455,988 417,409 71.33% Operations 1,186,579 913,797 272,782 77.01% 1,184,709 270,912 77.13% Operating Capital - - - 0.00%- - 0.00% CIP Expense - 17,780 (17,780) 0.00%- (17,780) 0.00% Parks Total Expense 2,727,414 1,970,156 757,257 72.24% 2,640,698 670,541 74.61% Recreation Personnel 1,606,081 1,170,809 435,272 72.90% 1,629,136 458,327 71.87% Operations 1,293,300 843,741 449,559 65.24% 1,240,952 397,211 67.99% Recreation Total Expense 2,899,381 2,014,550 884,831 69.48% 2,870,088 855,538 70.19% Tennis Center Personnel 235,401 158,646 76,754 67.39% 230,744 72,098 68.75% Operations 207,516 120,623 86,893 58.13% 190,707 70,085 63.25% Tennis Center Total Expense 442,917 279,269 163,648 63.05% 421,451 142,182 66.26% Recreation Programs Personnel 680,377 277,922 402,455 40.85% 651,365 373,443 42.67% Operations 570,993 324,879 246,114 56.90% 442,228 117,350 73.46% Budget Vs. Actuals Year‐End:  Projections Vs. Actuals 80Page 86 of 144 General Fund Quarterly Comparison: Q3 FY2021  Budget  Actuals  FY2021 YTD Actuals: Q3 FY2021 Variance % of Budget Projections 2021 Variance Fav/(Unfav)% of Projection Budget Vs. Actuals Year‐End:  Projections Vs. Actuals Recreation Programs Total Expense 1,251,370 602,801 648,569 48.17% 1,093,594 490,793 55.12% Garey Park Personnel 471,122 327,523 143,599 69.52% 491,455 163,932 66.64% Operations 510,589 347,649 162,940 68.09% 483,418 135,770 71.91% Operating Capital 311 (89) 400 -28.69%- 89 0.00% Garey Park Total Expense 982,022 675,082 306,940 68.74% 974,873 299,791 69.25% Arts and Culture Operations 57,857 40,250 17,607 69.57%57,857 17,608 69.57% Arts and Culture Total Expense 57,857 40,250 17,607 69.57%57,857 17,608 69.57% Municipal Court Personnel 484,734 347,942 136,792 71.78% 473,558 125,616 73.47% Operations 100,389 57,645 42,744 57.42%83,151 25,506 69.33% Municipal Court Total Expense 585,123 405,587 179,536 69.32% 556,709 151,122 72.85% Fire Support Services/Administration Personnel 2,877,376 1,696,517 1,180,859 58.96% 2,361,824 665,307 71.83% Operations 1,446,067 1,094,374 351,693 75.68% 1,409,421 315,047 77.65% Operating Capital 25,149 15,820 9,329 62.90%24,720 8,900 64.00% Fire Support Total Expense 4,348,592 2,806,711 1,541,881 64.54% 3,795,965 989,254 73.94% Fire Emergency Services Personnel 13,493,986 9,441,884 4,052,101 69.97% 13,618,867 4,176,982 69.33% Operations 2,379,405 1,593,357 786,048 66.96% 2,262,655 669,298 70.42% Operating Capital 80,000 51,499 28,501 64.37%80,000 28,501 64.37% Fire Emergency Services Total Expense 15,953,391 11,086,740 4,866,651 69.49% 15,961,522 4,874,782 69.46% EMS Personnel 1,749,042 1,494,318 254,724 85.44% 2,234,698 740,381 66.87% Operations 773,749 584,426 189,323 75.53% 771,166 186,740 75.78% Operating Capital 57,750 44,630 13,120 77.28%57,750 13,120 77.28% EMS Total Expense 2,580,541 2,123,373 457,167 82.28% 3,063,614 940,241 69.31% Inspection Services 81Page 87 of 144 General Fund Quarterly Comparison: Q3 FY2021  Budget  Actuals  FY2021 YTD Actuals: Q3 FY2021 Variance % of Budget Projections 2021 Variance Fav/(Unfav)% of Projection Budget Vs. Actuals Year‐End:  Projections Vs. Actuals Personnel 1,366,692 915,051 451,642 66.95% 1,280,873 365,823 71.44% Operations 181,221 107,306 73,915 59.21% 158,400 51,094 67.74% Inspection Services Total Expense 1,547,913 1,022,357 525,556 66.05% 1,439,273 416,917 71.03% Administrative Services Personnel 1,367,229 995,068 372,161 72.78% 1,394,528 399,460 71.36% Operations 526,707 334,016 192,691 63.42% 526,984 192,968 63.38% Administration Services Total Expense 1,893,936 1,329,084 564,852 70.18% 1,921,512 592,428 69.17% Community Services Personnel 240,597 200,514 40,083 83.34% 246,932 46,417 81.20% Operations 113,291 99,055 14,236 87.43% 112,479 13,424 88.07% Community Services Total Expense 353,889 299,569 54,320 84.65% 359,411 59,841 83.35% City Secretary Personnel 524,370 384,362 140,007 73.30% 518,033 133,671 74.20% Operations 485,402 363,760 121,642 74.94% 470,545 106,785 77.31% City Secretary Total Expense 1,009,772 748,123 261,649 74.09% 988,578 240,456 75.68% Communications/ Public Engagement Personnel 533,969 383,091 150,877 71.74% 545,571 162,479 70.22% Operations 310,635 155,948 154,687 50.20% 279,580 123,632 55.78% Communications Total Expense 844,604 539,039 305,564 63.82% 825,151 286,111 65.33% Police Administration Personnel 652,285 467,343 184,943 71.65% 652,443 185,100 71.63% Operations 1,915,563 1,332,980 582,583 69.59% 1,913,474 580,494 69.66% Police Administration Total Expense 2,567,848 1,800,323 767,526 70.11% 2,565,917 765,594 70.16% Police Operations Personnel 12,308,896 9,132,053 3,176,843 74.19% 12,224,416 3,092,363 74.70% Operations 2,283,105 1,475,217 807,888 64.61% 2,207,250 732,033 66.84% Operating Capital 77,104 16,007 61,097 20.76%77,104 61,097 20.76% Police Operations Total Expense 14,669,105 10,623,277 4,045,829 72.42% 14,508,770 3,885,493 73.22% Animal Services 82Page 88 of 144 General Fund Quarterly Comparison: Q3 FY2021  Budget  Actuals  FY2021 YTD Actuals: Q3 FY2021 Variance % of Budget Projections 2021 Variance Fav/(Unfav)% of Projection Budget Vs. Actuals Year‐End:  Projections Vs. Actuals Personnel 765,898 463,895 302,002 60.57% 707,099 243,203 65.61% Operations 340,804 217,879 122,925 63.93% 339,590 121,711 64.16% Animal Services Total Expense 1,106,702 681,774 424,928 61.60% 1,046,689 364,914 65.14% Code Compliance Personnel 464,093 283,814 180,278 61.15% 417,009 133,195 68.06% Operations 95,650 75,901 19,749 79.35% 103,881 27,979 73.07% Operating Capital 2,997 - 2,997 0.00%- - 0.00% Code Compliance Total Expense 562,740 359,716 203,024 63.92% 520,890 161,174 69.06% Public Works Personnel 608,830 312,313 296,517 51.30% 483,229 170,916 64.63% Operations 1,097,084 1,025,967 71,117 93.52% 1,149,450 123,483 89.26% Operating Capital - 4,337 (4,337) 0.00%120 (4,217) 3615.62% Public Works Total Expense 1,705,914 1,342,617 363,297 78.70% 1,632,799 290,182 82.23% Streets Personnel 1,384,302 897,626 486,676 64.84% 1,350,963 453,337 66.44% Operations 1,752,107 1,283,780 468,327 73.27% 1,718,988 435,208 74.68% Operating Capital 740 21,033 (20,293) 2842.37%12,544 (8,489) 167.67% Streets Total Expense 3,137,149 2,202,440 934,710 70.21% 3,082,495 880,056 71.45% Environmental Services Operations 9,637,924 6,173,731 3,464,193 64.06% 9,641,349 3,467,618 64.03% Operating Capital 25,000 - 25,000 0.00%25,000 25,000 0.00% Environmental Services Total Expense 9,662,924 6,173,731 3,489,193 63.89% 9,666,349 3,492,618 63.87% Non‐Departmental Operations - 8,154 (8,154) 0.00%3,157 (4,997) 258.30% Transfers 1,654,691 759,391 895,300 45.89% 6,354,691 5,595,300 11.95% Non-Departmental Total Expense 1,654,691 767,545 887,146 46.39% 6,357,848 5,590,303 12.07% General Government Contracts Operations 6,024,808 4,159,360 1,865,448 69.04% 5,829,569 1,670,209 71.35% Personnel (1,250,000) - (1,250,000) 0.00% (300,000) (300,000) 0.00% General Government Contracts Expense 4,774,808 4,159,360 615,448 87.11% 5,529,569 1,370,209 75.22% 83Page 89 of 144 General Fund Quarterly Comparison: Q3 FY2021  Budget  Actuals  FY2021 YTD Actuals: Q3 FY2021 Variance % of Budget Projections 2021 Variance Fav/(Unfav)% of Projection Budget Vs. Actuals Year‐End:  Projections Vs. Actuals General Fund Total Expenses 82,985,180           58,118,749           24,866,431           70.04% 87,477,342           29,358,593           66.44% 84Page 90 of 144 Quarterly Financial Report FY2021 Financial Summary: Q3Page 91 of 144 FY2021 FINANCIAL SUMMAY: Q3 Third Quarter Background •Budget in this report reflects the CIP Roll Forward and Operational Amendment as well as the Midyear Budget Amendment •Due to COVID-19 pandemic timing, year over year comparisons of 2020 and 2021 show large variances in some revenues and expenses, which was expected going into FY2021 •Report reflects operational impacts of the winter storm in expenses •City has applied for FEMA reimbursement, timing of reimbursement unknown Page 92 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •FY2021 Revenue Budget •Revenue Budget Sources •The FY2021 revenue budget for the General Fund is $83.2 million •50% of budgeted revenues is various taxes •Charges for service totals 30% of General Fund revenues •PILOT from City owned utilities is 10% of budgeted revenues •PILOT is 7% and franchise fees is 3% to match our Fiscal and Budgetary Policy 49.53% 0.47%0.09% 30.10% 1.05% 7.44% 1.20%10.13%Taxes Fines and Penalties Investment Income Charges for Services Other Miscellaneous Revenue Donations and Grants 70001:Transfers In 70002:Transfers In - Payment in Lieu of Taxes (PILOT) Page 93 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue –Quarterly General Fund Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % of Budget Variance % Variance Revenue 40001:Property Taxes 15,976,505 15,405,838 16,323,813 347,308 102.17%917,976 5.96% 40002:Sales Taxes 18,576,250 10,566,870 13,162,725 (5,413,525) 70.86%2,595,855 24.57% 40005:Franchise Taxes 6,255,270 3,834,807 4,139,137 (2,116,133) 66.17%304,330 7.94% 40008:Other Taxes 400,000 323,051 150,932 (249,068) 37.73%(172,120) -53.28% 41001:Fines 328,392 240,206 188,560 (139,832) 57.42%(51,647) -21.50% 41002:Penalties 60,000 42,505 74,664 14,664 124.44%32,160 75.66% 42001:Interest Income 75,000 206,539 67,253 (7,747) 89.67%(139,286) -67.44% 43001:Fees 7,028,184 5,333,958 5,349,312 (1,678,872) 76.11%15,354 0.29% 43002:Garbage Charges 10,151,764 7,545,373 8,099,881 (2,051,883) 79.79%554,508 7.35% 43003:Permits 4,317,750 2,411,498 3,927,014 (390,736) 90.95%1,515,516 62.85% 43004:Administrative Charges 3,396,447 2,038,298 2,544,376 (852,071) 74.91%506,078 24.83% 43005:Rental Revenue 148,140 94,423 148,231 91 100.06%53,808 56.99% 45001:Misc Revenue 871,955 109,953 663,347 (208,608) 76.08%553,393 503.30% 45003:Misc Reimbursements - 872 9,954 9,954 0.00%9,082 1041.49% 44001:Grant Revenue 679,884 696,387 498,073 (181,811) 73.26%(198,314) -28.48% 44501:Contribution Revenue - 150,000 - - 0.00%(150,000) -100.00% 44502:Developer Contributions 423,112 3,217 423,328 216 100.05%420,111 13060.36% 44503:Interlocal Agreement Revenue 5,091,091 3,098,504 3,896,283 (1,194,808) 76.53%797,780 25.75% 44504:Donations - 875 - - 0.00%(875) -100.00% 70001:Transfers In 995,302 303,634 995,302 - 100.00%691,668 227.80% 70002:Transfers In - Payment in Lieu of Taxes (PILOT)8,431,375 6,218,276 6,821,411 (1,609,964) 80.91%603,135 9.70% Revenue Total 83,206,421 58,625,083 67,483,595 (15,722,826) 81.10%8,858,512 15.11% FY2020 FY2021 Quarterly Comparison FY2021 Year-to-date Actuals Vs. Budget Page 94 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue -Projections d omparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % of Budget Variance % Variance Projections FY2021 Variance Fav/(Unfav)% erty Taxes 15,976,505 15,405,838 16,323,813 347,308 102.17%917,976 5.96%15,996,505 327,309 s Taxes 18,576,250 10,566,870 13,162,725 (5,413,525) 70.86%2,595,855 24.57%22,924,375 (9,761,650) chise Taxes 6,255,270 3,834,807 4,139,137 (2,116,133) 66.17%304,330 7.94%6,182,563 (2,043,426) er Taxes 400,000 323,051 150,932 (249,068) 37.73%(172,120) -53.28%410,000 (259,068) s 328,392 240,206 188,560 (139,832) 57.42%(51,647) -21.50%290,600 (102,040) alties 60,000 42,505 74,664 14,664 124.44%32,160 75.66%70,000 4,665 rest Income 75,000 206,539 67,253 (7,747) 89.67%(139,286) -67.44%87,429 (20,176) 7,028,184 5,333,958 5,349,312 (1,678,872) 76.11%15,354 0.29%6,876,306 (1,526,994) bage Charges 10,151,764 7,545,373 8,099,881 (2,051,883) 79.79%554,508 7.35%10,300,000 (2,200,120) mits 4,317,750 2,411,498 3,927,014 (390,736) 90.95%1,515,516 62.85%4,880,250 (953,237) inistrative Charges 3,396,447 2,038,298 2,544,376 (852,071) 74.91%506,078 24.83%3,396,447 (852,071) al Revenue 148,140 94,423 148,231 91 100.06%53,808 56.99%125,947 22,284 Revenue 871,955 109,953 663,347 (208,608) 76.08%553,393 503.30%804,049 (140,702) Reimbursements - 872 9,954 9,954 0.00%9,082 1041.49%- 9,954 nt Revenue 679,884 696,387 498,073 (181,811) 73.26%(198,314) -28.48%500,000 (1,927) ribution Revenue - 150,000 - - 0.00%(150,000) -100.00%- - eloper Contributions 423,112 3,217 423,328 216 100.05%420,111 13060.36%423,332 (4) rlocal Agreement Revenue 5,091,091 3,098,504 3,896,283 (1,194,808) 76.53%797,780 25.75%5,091,092 (1,194,808) ations - 875 - - 0.00%(875) -100.00%- - sfers In 995,302 303,634 995,302 - 100.00%691,668 227.80%995,302 - sfers In - Payment in Lieu of Taxes (PILOT)8,431,375 6,218,276 6,821,411 (1,609,964) 80.91%603,135 9.70%8,460,467 (1,639,056) tal 83,206,421 58,625,083 67,483,595 (15,722,826) 81.10%8,858,512 15.11%87,814,662 (20,331,067) FY2020 FY2021 Quarterly Comparison FY2021 Year-to-date Actuals Vs. Budget Year-End: Projections Vs. Actua Page 95 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Sales Tax •22% of budgeted General Fund revenue •$13.16 million, or 71% of sales tax budget received through the quarter •Sales tax revenue is up 25% compared to the same period of FY202. 25% 13,162,725 SALES TAX K 1.0M 2.0M 3.0M 4.0M 5.0M 6.0M Q1 Q2 Q3 FY2020 FY2021 Page 96 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Property Tax •19% of budgeted General Fund revenue •$16.32 million, or 102% of property tax budget received through the quarter •Collections in the 1st and 2nd quarter of the fiscal year •TIRZ property tax revenue was be journaled to the appropriate fund in Q3. •Property tax revenue is up 6% compared to the same period of FY2020 6% 16,323,813 PROPERTY TAX K 2.0M 4.0M 6.0M 8.0M 10.0M Q1 Q2 Q3 FY2020 FY2021 Page 97 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Franchise Fees •8% of budgeted General Fund revenue •$4.1 million, or 66% of franchise fee revenue budget received through the quarter •Franchise fee revenue is up 8% compared to the same period of FY2020 •Electric •Water •Garbage 8% 4,139,137 FRANCHISE FEES K 250K 500K 750K 1.0M 1.3M 1.5M 1.8M 2.0M 2.3M Q1 Q2 Q3 FY2020 FY2021 Page 98 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Payment in Lieu of Taxes (PILOT) •10% of budgeted General Fund revenue •$6.8 million, or 81% of PILOT revenue budget received through the quarter •PILOT revenue is up 10% compared to the same period of FY2020 10% 6,821,411 PILOT K 500K 1.0M 1.5M 2.0M 2.5M Q1 Q2 Q3 FY2020 FY2021 Page 99 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Planning & Development Revenue •8% of budgeted General Fund revenue •$5.6 million, or 81% of planning and development budget received through the quarter •Planning and development revenue is up 46% compared to the same period of FY2020 •Increased planning and permitting activity and large one-time master fee receipts 46% 5,608,544 PLANNING & DEVELOPMENT K 500K 1.0M 1.5M 2.0M Q1 Q2 Q3 FY2020 FY2021 Page 100 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Sanitation Revenue •12% of budgeted General Fund revenue •$8.1 million, or approximately 80% of sanitation revenue budget received through the quarter •Sanitation revenue is up 7% compared to the same period of FY2020 •Customer growth •Increased rates for cost of service 7% 8,099,881 SANITATION REVENUE K 750K 1.5M 2.3M 3.0M Q1 Q2 Q3 FY2020 FY2021 Page 101 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Fire and EMS Revenue •10% of budgeted General Fund revenue •EMS Revenue •ESD #8 •$5.9 million, or 74% of budget received through the quarter •EMS revenue is down 2% compared to the same period of FY2020 •ESD #8 contract 18% 5,930,963 FIRE AND EMS REVENUE K 500K 1.0M 1.5M 2.0M Q1 Q2 Q3 FY2020 FY2021 Page 102 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Revenue •Parks & Recreation •2% of budgeted General Fund revenue •$1,352,160, or 71.4% of parks and recreation budget received through the quarter •Seasonality •Parks and Recreation revenue is up 9% compared to the same period of FY2020 9% 1,352,160 PARKS & RECREATION K 100K 200K 300K 400K 500K 600K 700K Q1 Q2 Q3 FY2020 FY2021 Page 103 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Expense •FY2021 Expense Budget •Expense Budget Sources •The FY2021 expense budget for the General Fund is $83 million •48% of General Fund budgeted expense is for public safety. This includes $22.8M for Fire and $17.2M for Police operations •Public Works is 17%, or $14.5M •Environmental Services •Public Works •Streets •Parks and Recreation totals 11% 87 ,955 ,84 663,347 ( 08,608) 76.08%804,049 ( 40,70 ) 8 .50% - 9,954 9,954 9,954 0.00%- 9,954 0.00% 679,884 28,530 498,073 (181,811) 73.26%500,000 (1,927) 99.61% - - - - 0.00%- - 0.00% 423,112 - 423,328 216 100.05%423,332 (4) 100.00% 5,091,091 1,528,738 3,896,283 (1,194,808) 76.53%5,091,092 (1,194,808) 76.53% - - - - 0.00%- - 0.00% 995,302 - 995,302 - 100.00%995,302 - 100.00% 8,431,375 895,333 6,821,411 (1,609,964) 80.91%8,460,467 (1,639,056) 80.63% 83,206,421 7,847,499 67,483,595 (15,722,826) 81.10%87,814,662 (20,331,067) 76.85% 1,654,691 1,145 767,545 887,146 46.39%6,357,848 5,590,303 12.07% 1,978,054 133,648 1,418,785 559,269 71.73%1,903,216 484,430 74.55% 662,887 50,560 467,925 194,962 70.59%643,407 175,482 72.73% 2,837,904 213,267 2,020,529 817,375 71.20%2,852,883 832,353 70.82% 2,727,414 202,037 1,970,156 757,257 72.24%2,640,698 670,541 74.61% 2,899,381 243,485 2,014,550 884,831 69.48%2,870,088 855,538 70.19% 442,917 33,390 279,269 163,648 63.05%421,451 142,182 66.26% 1,251,370 158,028 602,801 648,569 48.17%1,093,594 490,793 55.12% 982,022 73,291 675,082 306,940 68.74%974,873 299,791 69.25% 57,857 4,041 40,250 17,607 69.57%57,857 17,608 69.57% 585,123 42,324 405,587 179,536 69.32%556,709 151,122 72.85% 4,348,592 295,637 2,806,711 1,541,881 64.54%3,795,965 989,254 73.94% 15,953,391 1,193,733 11,086,740 4,866,651 69.49%15,961,522 4,874,782 69.46% 2,580,541 235,756 2,123,373 457,167 82.28%3,063,614 940,241 69.31% 9,662,924 749,726 6,173,731 3,489,193 63.89%9,666,349 3,492,618 63.87% 1,547,913 116,593 1,022,357 525,556 66.05%1,439,273 416,917 71.03% 1,893,936 142,915 1,329,084 564,852 70.18%1,921,512 592,428 69.17% 353,889 16,145 299,569 54,320 84.65%359,411 59,841 83.35% 185,734 14,745 145,315 40,419 78.24%190,992 45,677 76.08% 1,009,772 93,635 748,123 261,649 74.09%988,578 240,456 75.68% 4,774,808 713,681 4,159,360 615,448 87.11%5,529,569 1,370,209 75.22% 844,604 43,089 539,039 305,564 63.82%825,151 286,111 65.33% 2,567,848 185,125 1,800,323 767,526 70.11%2,565,917 765,594 70.16% 14,669,105 1,094,080 10,623,277 4,045,829 72.42%14,508,770 3,885,493 73.22% 1,106,702 76,731 681,774 424,928 61.60%1,046,689 364,914 65.14% 562,740 32,318 359,716 203,024 63.92%520,890 161,174 69.06% Page 104 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Expense -Quarterly General Fund Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % Of Budget Variance % Variance Expense Personnel 45,716,778 32,011,032 32,918,253 12,798,525 72.00%(907,220) 2.83% Operations 35,318,608 21,409,778 24,261,078 11,057,530 68.69%(2,851,300) 13.32% Operating Capital 295,103 1,376,506 162,247 132,856 54.98%1,214,259 -88.21% CIP Expense - (162,963) 17,780 (17,780) 0.00%(180,742) -110.91% Transfers 1,654,691 457,860 759,391 895,300 45.89%(301,531) 65.86% Total Expense 82,985,180 55,092,214 58,118,749 24,866,431 70.04%(3,026,535) 5.49% FY2020 FY2021 FY2021 Year-to-date Vs. Budget Quarterly Comparison Page 105 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Expense -Projections General Fund Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % Of Budget Variance % Variance Expense Personnel 45,716,778 32,011,032 32,918,253 12,798,525 72.00%(907,220) 2.83% Operations 35,318,608 21,409,778 24,261,078 11,057,530 68.69%(2,851,300) 13.32% Operating Capital 295,103 1,376,506 162,247 132,856 54.98%1,214,259 -88.21% CIP Expense - (162,963) 17,780 (17,780) 0.00%(180,742) -110.91% Transfers 1,654,691 457,860 759,391 895,300 45.89%(301,531) 65.86% Total Expense 82,985,180 55,092,214 58,118,749 24,866,431 70.04%(3,026,535) 5.49% FY2020 FY2021 FY2021 Year-to-date Vs. Budget Quarterly Comparison The large change in Transfers expense projections is the year-end transfer of $4.7M of FY2020 savings to the Council SRF Page 106 of 144 FY2021 FINANCIAL SUMMAY: Q3 General Fund Expense •Operations •43% of budgeted General Fund expenses •$21.4 million, or 69% operations expense through the quarter •Operations is up 13% compared to the same period of FY2020 due to increased internal administrative costs, and pandemic and winter storm delay impact on contracts •Personnel •55% of budgeted General Fund expenses •$32.9 million, or 72% personnel expense through the quarter •Personnel is up 3% compared to the same period of FY2020 due to merit and market increases K 10M 20M 30M 40M 50M Personnel Operations GENERAL FUND -PERSONNEL AND OPERATIONS VS. BUDGET YTD Actuals: Q3 FY2021 Budget Page 107 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Revenue •FY2021 Revenue Budget •Revenue Budget Sources •The FY2021 revenue budget for the Electric Fund is $141.3 million •56% of budgeted revenues is from charges for service •Electric sales revenue •Shared services charges •Bond Proceeds are 39% of budgeted revenues •Transfer In –1% •Titan North Park 0.79%3.72% 91.17% 1.73%1.80%40002:Sales Taxes 40005:Franchise Taxes 41002:Penalties 42001:Interest Income 43001:Fees 43004:Administrative Charges 43601:Electric Charges 44502:Developer Contributions Page 108 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Revenues –Quarterly Electric Services Quarterly Comparison: Q3 FY2021 Budget FY2021 FY2021 YTD Actuals: Q3 FY2021 Variance % of Budget Projections FY2021 Variance Fav/(Unfav)% Variance Variance % Variance Operating Revenue 40002:Sales Taxes 5,000 3,966 (1,034) 79.33%5,000 (1,034) 79.33%(807) -16.91% 40005:Franchise Taxes 115,732 - (115,732) 0.00%- - 0.00%- 0.00% 41002:Penalties 553,724 596,358 42,634 107.70%547,759 48,599 108.87%301,555 102.29% 42001:Interest Income 5,000 27,265 22,265 545.30%20,828 6,437 130.90%21,296 356.82% 43001:Fees 685,000 707,437 22,437 103.28%868,887 (161,450) 81.42%200,918 39.67% 43004:Administrative Charges 3,222,103 2,416,577 (805,526) 75.00%3,222,103 (805,526) 75.00%820,268 51.39% 43601:Electric Charges 78,982,278 56,509,322 (22,472,956) 71.55%79,081,809 (22,572,487) 71.46%(2,879,507) -4.85% 44502:Developer Contributions 1,500,000 5,964,069 4,464,069 397.60%6,100,000 (135,930) 97.77%3,488,820 140.95% 70001:Transfers In 1,562,058 1,379,308 (182,750) 88.30%1,562,058 (182,750) 88.30%1,379,308 0.00% Operating Revenue Total 86,630,895 67,604,303 (19,026,592) 78.04%91,408,444 (23,804,141) 73.96%3,331,850 5.18% Non-Operating Revenue 45001:Misc Revenue 35,000 270,081 235,081 771.66%233,023 37,058 115.90%95,189 54.43% 45004:Sale of Property 10,000 1,038,936 1,028,936 10389.36%2,526,604 (1,487,668) 41.12%424,601 69.12% 46001:Bond Proceeds 54,648,625 54,065,000 (583,625) 98.93%54,065,000 - 100.00%49,010,000 969.54% 46002:Bond Premium - 652,424 652,424 0.00%652,424 0 100.00%652,424 0.00% Non-Operating Revenue Total 54,693,625 56,026,441 1,332,816 102.44%57,477,051 (1,450,610) 97.48%50,182,215 858.66% Revenue Total 141,324,520 123,630,744 (17,693,776) 87.48%148,885,495 (25,254,751) 83.04%53,514,065 76.32% FY2021 Year-to-date Actuals Vs. Budget Quarterly Comparison Year-End: Projections Vs. Actuals Page 109 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Revenue -Projections Electric Services Quarterly Comparison: Q3 FY2021 Budget FY2021 FY2021 YTD Actuals: Q3 FY2021 Variance % of Budget Projections FY2021 Variance Fav/(Unfav)% Variance Operating Revenue 40002:Sales Taxes 5,000 3,966 (1,034) 79.33%5,000 (1,034) 79.33% 40005:Franchise Taxes 115,732 - (115,732) 0.00%- - 0.00% 41002:Penalties 553,724 596,358 42,634 107.70%547,759 48,599 108.87% 42001:Interest Income 5,000 27,265 22,265 545.30%20,828 6,437 130.90% 43001:Fees 685,000 707,437 22,437 103.28%868,887 (161,450) 81.42% 43004:Administrative Charges 3,222,103 2,416,577 (805,526) 75.00%3,222,103 (805,526) 75.00% 43601:Electric Charges 78,982,278 56,509,322 (22,472,956) 71.55%79,081,809 (22,572,487) 71.46% 44502:Developer Contributions 1,500,000 5,964,069 4,464,069 397.60%6,100,000 (135,930) 97.77% 70001:Transfers In 1,562,058 1,379,308 (182,750) 88.30%1,562,058 (182,750) 88.30% Operating Revenue Total 86,630,895 67,604,303 (19,026,592) 78.04%91,408,444 (23,804,141) 73.96% Non-Operating Revenue 45001:Misc Revenue 35,000 270,081 235,081 771.66%233,023 37,058 115.90% 45004:Sale of Property 10,000 1,038,936 1,028,936 10389.36%2,526,604 (1,487,668) 41.12% 46001:Bond Proceeds 54,648,625 54,065,000 (583,625) 98.93%54,065,000 - 100.00% 46002:Bond Premium - 652,424 652,424 0.00%652,424 0 100.00% Non-Operating Revenue Total 54,693,625 56,026,441 1,332,816 102.44%57,477,051 (1,450,610) 97.48% Revenue Total 141,324,520 123,630,744 (17,693,776) 87.48%148,885,495 (25,254,751) 83.04% FY2021 Year-to-date Actuals Vs. Budget Year-End: Projections Vs. Actuals Page 110 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Operating Revenue –Electric Sales Revenue •Electric Sales Revenue •Represents 91% of budgeted Electric Fund operating revenue •$56.5 million, or 72% of electric sales revenue budget received through the quarter •Electric sales revenue is down 5% compared to the same period of FY2020 •Rate agreements and adjustments •Mild weather in June, July, and August -5% 56,509,322 ELECTRIC SALES CHARGES K 5.0M 10.0M 15.0M 20.0M 25.0M Q1 Q2 Q3 FY2020 FY2021 Page 111 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Expense -Quarterly Electric Services Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % of Budget Variance % Variance Operating Expense City of Georgetown (Only)- 252,201 - - 0.00%252,201 -100.00% CC0001 Non-Departmental 5,506,375 3,844,378 4,511,501 994,874 81.93%(667,123) 17.35% CC0522 Electric Administration 8,738,792 6,734,854 6,585,076 2,153,716 75.35%149,778 -2.22% CC0525 T&D Services 3,122,421 2,983,497 3,101,351 21,070 99.33%(117,854) 3.95% CC0526 Systems Engineering - 871,258 65,095 (65,095) 0.00%806,164 -92.53% CC0537 Electric Resource Management 108,334,393 42,972,117 96,290,644 12,043,749 88.88%(53,318,527) 124.08% CC0555 Electric Systems Operations 1,610,228 1,071,046 1,196,821 413,407 74.33%(125,776) 11.74% CC0557 Electrical Engineering 663,952 767,009 762,545 (98,593) 114.85%4,464 -0.58% CC0521 Electric Technical Services 727,388 492,212 515,431 211,957 70.86%(23,219) 4.72% CC0524 Metering Services 2,022,094 1,327,902 1,521,811 500,283 75.26%(193,909) 14.60% CC0526 Systems Engineering - 871,258 65,095 (65,095) 0.00%806,164 -92.53% Operating Expense Total 130,725,643 61,316,475 114,550,276 16,175,367 87.63%(53,233,801) 86.82% Non-Operating Expense CC0001 Non-Departmental 4,375,805 638,596 875,370 3,500,435 20.00%(236,774) 37.08% CC0557 Electrical Engineering 8,166,143 491,556 4,546,269 3,619,873 55.67%(4,054,713) 824.87% CC0526 Systems Engineering - 1,030,860 2,550 (2,550) 0.00%1,028,310 -99.75% Non-Operating Expense Total 12,541,948 2,161,012 5,424,189 7,117,759 43.25%(3,263,177) 151.00% Expense Total 143,267,591 63,477,487 119,974,465 23,293,126 83.74%(56,496,978) 89.00% FY2020 FY2021 FY2021 Year-to-date Actuals Vs. Budget Quarterly Comparison Page 112 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Expense Fund -Projections Electric Services Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % of Budget Variance % Variance Operating Expense City of Georgetown (Only)- 252,201 - - 0.00%252,201 -100.00% CC0001 Non-Departmental 5,506,375 3,844,378 4,511,501 994,874 81.93%(667,123) 17.35% CC0522 Electric Administration 8,738,792 6,734,854 6,585,076 2,153,716 75.35%149,778 -2.22% CC0525 T&D Services 3,122,421 2,983,497 3,101,351 21,070 99.33%(117,854) 3.95% CC0526 Systems Engineering - 871,258 65,095 (65,095) 0.00%806,164 -92.53% CC0537 Electric Resource Management 108,334,393 42,972,117 96,290,644 12,043,749 88.88%(53,318,527) 124.08% CC0555 Electric Systems Operations 1,610,228 1,071,046 1,196,821 413,407 74.33%(125,776) 11.74% CC0557 Electrical Engineering 663,952 767,009 762,545 (98,593) 114.85%4,464 -0.58% CC0521 Electric Technical Services 727,388 492,212 515,431 211,957 70.86%(23,219) 4.72% CC0524 Metering Services 2,022,094 1,327,902 1,521,811 500,283 75.26%(193,909) 14.60% CC0526 Systems Engineering - 871,258 65,095 (65,095) 0.00%806,164 -92.53% Operating Expense Total 130,725,643 61,316,475 114,550,276 16,175,367 87.63%(53,233,801) 86.82% Non-Operating Expense CC0001 Non-Departmental 4,375,805 638,596 875,370 3,500,435 20.00%(236,774) 37.08% CC0557 Electrical Engineering 8,166,143 491,556 4,546,269 3,619,873 55.67%(4,054,713) 824.87% CC0526 Systems Engineering - 1,030,860 2,550 (2,550) 0.00%1,028,310 -99.75% Non-Operating Expense Total 12,541,948 2,161,012 5,424,189 7,117,759 43.25%(3,263,177) 151.00% Expense Total 143,267,591 63,477,487 119,974,465 23,293,126 83.74%(56,496,978) 89.00% FY2020 FY2021 FY2021 Year-to-date Actuals Vs. Budget Quarterly Comparison Page 113 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Net Purchased Power •Net Purchased Power •72% of Electric Fund operating expenses •$95.91 million, or 88% of purchase power expense through the quarter •Purchase power is up 126% compared to the same period of FY2020 •Winter storm •Congestion and transmission issues (Q1) 126% 95,917,904 NET PURCHASED POWER K 10.0M 20.0M 30.0M 40.0M 50.0M 60.0M 70.0M Q1 Q2 Q3 FY2020 FY2021 Page 114 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Purchased Power •Q3: FY2020 •Net Purchase Power Budget: $59,500,000 •Purchased Power: $42,532,340 •REC Sales: ($670,221) •CRR Credits: ($31,594) •Net Purchased Power: $41,893,526 •% of Net Purchase Power Budget: 70% •Q3: FY2021 •Net Purchase Power Budget: $60,270,000 •Purchased Power: $47,948,087 •Removed $48,000,000 •REC Sales: ($1,026,041) •CRR Credits: ($30,483) •Net Purchased Power: $46,891,563 •% of Net Purchase Power Budget: 78% Page 115 of 144 FY2021 FINANCIAL SUMMAY: Q3 Electric Fund Expenses •CC0001 Non-Departmental •Transfers at 85% due to timing •CC0525 T&D Services and CC05557 Electrical Engineering •Capitalization of labor to CIP expense (year-end) •Personnel expenses look inflated and capital expenses look deflated at 3rd quarter, but Q4 year-end journal entry will normalize •Overall fund projected to end the year near budget with fully funded reserves Page 116 of 144 FY2021 FINANCIAL SUMMAY: Q3 Water Fund Fund Revenue •FY2021 Revenue Budget •Revenue Budget Sources •The FY2021 revenue budget for the Water Fund is $89.7 million •57% of budgeted revenues is charges for service •Water: $32.2 million •Wastewater: $14.2 million •Irrigation: $300 thousand •Impact Fees total 21% •Bond proceeds total 16.3 million or 18.2% 0.28% 0.26% 56.88%23.69% 0.70% 18.18% Fines and Penalties Investment Income Charges for Services Other Miscellaneous RevenueDeveloper Contributions Bond Proceeds Page 117 of 144 FY2021 FINANCIAL SUMMAY: Q3 Water Fund Revenue -Quarterly Water Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Projections FY2021 Variance Fav/(Unfav)% of Projections Variance % Variance Operating Revenue 41002:Penalties 255,000 171,240 364,515 355,000 9,515 102.68%193,276 112.87% 42001:Interest Income 237,250 1,232,662 360,099 492,336 (132,237) 73.14%(872,563) -70.79% 43001:Fees 4,290,000 4,660,840 7,790,258 7,655,000 135,258 101.77%3,129,418 67.14% 43005:Rental Revenue 55,000 55,702 61,070 60,000 1,070 101.78%5,367 9.64% 43602:Water Charges 32,150,000 22,150,006 26,580,429 35,100,000 (8,519,571) 75.73%4,430,424 20.00% 43603:Wastewater Charges 14,200,000 10,854,202 11,034,529 14,000,000 (2,965,471) 78.82%180,327 1.66% 43604:Irrigation Charges 300,000 261,511 205,791 300,000 (94,209) 68.60%(55,720) -21.31% 41602:Impact Fees 18,800,000 23,968,570 30,978,300 32,500,000 (1,521,700) 95.32%7,009,730 29.25% 44502:Developer Contributions 625,000 - 1,496,239 1,496,239 (0) 100.00%1,496,239 0.00% Operating Revenue Total 70,912,250 63,354,732 78,871,231 91,958,575 (13,087,344) 85.77%15,516,498 24.49% Non-Operating Revenue 45001:Misc Revenue 1,112,500 472,092 183,855 1,262,350 (1,078,495) 14.56%(288,238) -61.06% 45003:Misc Reimbursements - - 10,422 - 10,422 0.00%10,422 0.00% 45004:Sale of Property 1,327,774 735,404 1,329,336 1,327,774 1,562 100.12%593,931 80.76% 46001:Bond Proceeds 16,300,000 9,375,000 14,975,000 14,975,000 - 100.00%5,600,000 59.73% 46002:Bond Premium - - 1,415,140 1,415,140 (0) 100.00%1,415,140 0.00% Non-Operating Revenue Total 18,740,274 10,582,497 17,913,752 18,980,264 (1,066,512) 94.38%7,331,255 69.28% Revenue Total 89,652,524 73,937,229 96,784,982 110,938,839 (14,153,856) 87.24%22,847,753 30.90% FY2020 FY2021 Year-End: Projections Vs. Actuals Quarterly Comparison Page 118 of 144 FY2021 FINANCIAL SUMMAY: Q3 Water Fund Revenue Projections Water Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Projections FY2021 Variance Fav/(Unfav)% of Projections Operating Revenue 41002:Penalties 255,000 171,240 364,515 355,000 9,515 102.68% 42001:Interest Income 237,250 1,232,662 360,099 492,336 (132,237) 73.14% 43001:Fees 4,290,000 4,660,840 7,790,258 7,655,000 135,258 101.77% 43005:Rental Revenue 55,000 55,702 61,070 60,000 1,070 101.78% 43602:Water Charges 32,150,000 22,150,006 26,580,429 35,100,000 (8,519,571) 75.73% 43603:Wastewater Charges 14,200,000 10,854,202 11,034,529 14,000,000 (2,965,471) 78.82% 43604:Irrigation Charges 300,000 261,511 205,791 300,000 (94,209) 68.60% 41602:Impact Fees 18,800,000 23,968,570 30,978,300 32,500,000 (1,521,700) 95.32% 44502:Developer Contributions 625,000 - 1,496,239 1,496,239 (0) 100.00% Operating Revenue Total 70,912,250 63,354,732 78,871,231 91,958,575 (13,087,344) 85.77% Non-Operating Revenue 45001:Misc Revenue 1,112,500 472,092 183,855 1,262,350 (1,078,495) 14.56% 45003:Misc Reimbursements - - 10,422 - 10,422 0.00% 45004:Sale of Property 1,327,774 735,404 1,329,336 1,327,774 1,562 100.12% 46001:Bond Proceeds 16,300,000 9,375,000 14,975,000 14,975,000 - 100.00% 46002:Bond Premium - - 1,415,140 1,415,140 (0) 100.00% Non-Operating Revenue Total 18,740,274 10,582,497 17,913,752 18,980,264 (1,066,512) 94.38% Revenue Total 89,652,524 73,937,229 96,784,982 110,938,839 (14,153,856) 87.24% FY2020 FY2021 Year-End: Projections Vs. Actuals Page 119 of 144 FY2021 FINANCIAL SUMMAY: Q3 Water Fund Operating Revenue •Water Charges •36% of budgeted Water Fund operating revenue •$26.6 million, or 83% of water revenue budget received through the quarter •Water charges revenue is up 20% compared to the same period of FY2020 •Sales growth from customers –15% increase in KGAL used same period 2020 •Rate increases for cost of service 20% 26,580,429 WATER CHARGES REVENUE K 2.0M 4.0M 6.0M 8.0M 10.0M 12.0M Q1 Q2 Q3 FY2020 FY2021 Page 120 of 144 FY2021 FINANCIAL SUMMAY: Q3 Water Fund Expenses -Quarterly Water Services Financial Report Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % of Budget Projections FY2021 Variance Fav/(Unfav)% of Projection Variance % Variance Operating Expense City of Georgetown (Only)- 210,469 - - 0.00%- - 0.00%210,469 -100.00% CC0001 Non-Departmental 4,223,814 2,852,967 3,144,556 1,079,258 74.45%4,713,430 1,568,874 66.71%(291,588) 10.22% CC0526 Systems Engineering - 11,407,971 (2,081,558) 2,081,558 0.00%(639,847) 1,441,711 325.32%13,489,529 -118.25% CC0532 Irrigation Operations 295,000 201,625 104,713 190,287 35.50%295,000 190,287 35.50%96,912 -48.07% CC0530 Wastewater Operations 896,265 730,120 536,658 359,607 59.88%834,706 298,048 64.29%193,462 -26.50% CC0531 Wastewater Plant Management 4,013,950 2,864,072 2,966,012 1,047,938 73.89%3,704,111 738,099 80.07%(101,940) 3.56% CC0527 Water Services Administration 26,369,169 19,596,287 19,613,533 6,755,637 74.38%26,232,898 6,619,365 74.77%(17,245) 0.09% CC0528 Water Distribution 3,207,552 2,038,812 2,807,556 399,996 87.53%3,911,851 1,104,295 71.77%(768,744) 37.71% CC0529 Water Plant Management 4,326,865 2,872,027 3,129,510 1,197,354 72.33%3,910,271 780,761 80.03%(257,483) 8.97% CC0553 Water Operations 4,173,316 7,922,897 3,318,486 854,830 79.52%4,463,681 1,145,195 74.34%4,604,411 -58.12% CC0524 Metering Services - - 265 (265) 0.00%- (265) 0.00%(265) 0.00% Operating Expense Total 47,505,930 50,697,248 33,539,731 13,966,199 70.60%47,426,102 13,886,371 70.72%17,157,516 -33.84% Non-Operating Expense CC0001 Non-Departmental 4,083,411 625,429 94,190 3,989,221 2.31%3,887,651 3,793,461 2.42%531,239 -84.94% CC0526 Systems Engineering 99,671,405 5,791,464 27,573,842 72,097,563 27.66%99,630,405 72,056,563 27.68%(21,782,377) 376.11% CC0532 Irrigation Operations 121,879 11,626 9,606 112,273 7.88%121,929 112,323 7.88%2,020 -17.38% CC0530 Wastewater Operations 3,026,798 1,202,051 533,080 2,493,718 17.61%3,026,798 2,493,718 17.61%668,970 -55.65% CC0531 Wastewater Plant Management 2,050,000 - - 2,050,000 0.00%2,050,000 2,050,000 0.00%- 0.00% CC0527 Water Services Administration - - 6,037 (6,037) 0.00%6,037 0 100.00%(6,037) 0.00% CC0528 Water Distribution 1,159,424 - 781,316 378,108 67.39%781,316 - 100.00%(781,316) 0.00% CC0529 Water Plant Management 2,757 - - 2,757 0.00%2,757 2,757 0.00%- 0.00% CC0553 Water Operations 13,962,363 7,369,877 18,162,210 (4,199,847) 130.08%13,962,363 (4,199,847) 130.08%(10,792,333) 146.44% CC0524 Metering Services 750,000 - - 750,000 0.00%750,000 750,000 0.00%- 0.00% Non-Operating Expense Total 124,828,037 15,000,448 47,160,281 77,667,756 37.78%124,219,256 77,058,975 37.97%(32,159,833) 214.39% Expense 172,333,967 65,697,695 80,700,012 91,633,955 53.17%171,645,358 90,945,346 47.02%(15,002,317) 22.84% FY2020 FY2021 FY2021 Year-to-date Vs. Budget FY2021 Year-to-date Vs. Projections Quarterly Comparison Page 121 of 144 FY2021 FINANCIAL SUMMAY: Q3 Water Fund Expense -Projections Water Services Financial Report Quarterly Comparison: Q3 FY2021 Budget FY2021 YTD Actuals: Q3 FY2020 YTD Actuals: Q3 FY2021 Variance % of Budget Projections FY2021 Variance Fav/(Unfav)% of Projection Operating Expense City of Georgetown (Only)- 210,469 - - 0.00%- - 0.00% CC0001 Non-Departmental 4,223,814 2,852,967 3,144,556 1,079,258 74.45%4,713,430 1,568,874 66.71% CC0526 Systems Engineering - 11,407,971 (2,081,558) 2,081,558 0.00%(639,847) 1,441,711 325.32% CC0532 Irrigation Operations 295,000 201,625 104,713 190,287 35.50%295,000 190,287 35.50% CC0530 Wastewater Operations 896,265 730,120 536,658 359,607 59.88%834,706 298,048 64.29% CC0531 Wastewater Plant Management 4,013,950 2,864,072 2,966,012 1,047,938 73.89%3,704,111 738,099 80.07% CC0527 Water Services Administration 26,369,169 19,596,287 19,613,533 6,755,637 74.38%26,232,898 6,619,365 74.77% CC0528 Water Distribution 3,207,552 2,038,812 2,807,556 399,996 87.53%3,911,851 1,104,295 71.77% CC0529 Water Plant Management 4,326,865 2,872,027 3,129,510 1,197,354 72.33%3,910,271 780,761 80.03% CC0553 Water Operations 4,173,316 7,922,897 3,318,486 854,830 79.52%4,463,681 1,145,195 74.34% CC0524 Metering Services - - 265 (265) 0.00%- (265) 0.00% Operating Expense Total 47,505,930 50,697,248 33,539,731 13,966,199 70.60%47,426,102 13,886,371 70.72% Non-Operating Expense CC0001 Non-Departmental 4,083,411 625,429 94,190 3,989,221 2.31%3,887,651 3,793,461 2.42% CC0526 Systems Engineering 99,671,405 5,791,464 27,573,842 72,097,563 27.66%99,630,405 72,056,563 27.68% CC0532 Irrigation Operations 121,879 11,626 9,606 112,273 7.88%121,929 112,323 7.88% CC0530 Wastewater Operations 3,026,798 1,202,051 533,080 2,493,718 17.61%3,026,798 2,493,718 17.61% CC0531 Wastewater Plant Management 2,050,000 - - 2,050,000 0.00%2,050,000 2,050,000 0.00% CC0527 Water Services Administration - - 6,037 (6,037) 0.00%6,037 0 100.00% CC0528 Water Distribution 1,159,424 - 781,316 378,108 67.39%781,316 - 100.00% CC0529 Water Plant Management 2,757 - - 2,757 0.00%2,757 2,757 0.00% CC0553 Water Operations 13,962,363 7,369,877 18,162,210 (4,199,847) 130.08%13,962,363 (4,199,847) 130.08% CC0524 Metering Services 750,000 - - 750,000 0.00%750,000 750,000 0.00% Non-Operating Expense Total 124,828,037 15,000,448 47,160,281 77,667,756 37.78%124,219,256 77,058,975 37.97% Expense 172,333,967 65,697,695 80,700,012 91,633,955 53.17%171,645,358 90,945,346 47.02% FY2020 FY2021 FY2021 Year-to-date Vs. Budget FY2021 Year-to-date Vs. Projections Page 122 of 144 FY2021 FINANCIAL SUMMAY: Q3 Water Fund Quarterly •Personnel •Increase OT associated with winter storm •Operations •Trending high due to increase in chemical costs (supply chain issues), sludge hauling costs, repair and maintenance of aging mechanical equipment, lab testing expenses, and the multi-year rate study •Capital •Large variances with Systems Engineering due to normalization of coding capital projects after financial software conversion •Multi-year capital projects will be rolled forward into FY2022 •Overall –expected to end year near budget, meeting reserve requirements Page 123 of 144 FY2021 FINANCIAL SUMMAY: Q3 Tourism Fund Revenue •FY2021 Revenue Budget •Revenue Budget Sources •The FY2021 revenue budget for the Tourism Fund is $1.1 million •86% of budgeted revenues is hotel occupancy tax 85.71% 0.48%9.05% 4.76% 40008:Other Taxes 42001:Interest Income 45001:Misc Revenue 44505:Sponsorship Page 124 of 144 FY2021 FINANCIAL SUMMAY: Q3 Tourism Fund Revenue •Hotel Occupancy Tax •86% of budgeted Tourism Fund operating revenue •$723,371, or 80% of hotel occupancy revenue budget received through the quarter •Hotel occupancy tax revenue is up 4% compared to the same period of FY2020 •Expected due to COVID •Trends continue upward 4% 723,371 HOTEL OCCUPANCY TAX REVENUE K 100K 200K 300K 400K Q1 Q2 Q3 FY2020 FY2021 Page 125 of 144 FY2021 FINANCIAL SUMMAY: Q3 Questions Page 126 of 144 City of Georgetown, Texas City Council Workshop September 14, 2021 S UBJEC T: A presentation and discussion on the City’s internal and external audit program – Leigh Wallace, Finance Director and Elaine Wilson, Assistant Finance Director I T EM S UMMARY: Under the guidance of the City’s Fiscal and Budgetary P olicies, the City conducts internal and external audits to monitor activity, test controls, and identify continuous improvement o f pro cesses. This presentation is an update on what the City has done in the past two years, continues to do, and will do with the audit work plan fo r 2021 – 2 02 3. This plan was reviewed by the General Government and Finance Advisory Board during the May 26, 2021 meeting. F I NANC I AL I MPAC T: The budget fo r the annual external audit is in the J o int Services Fund, Ac c ounting Cost Center. The re is a recurring $75,000 for risk and audit re lated activities in the J oint Services Fund, Finance Administratio n Cost center, and a recurring $25,000 for temporary personnel in Accounting. S UBMI T T ED BY: Sharon P arker AT TAC HMENT S : Description P resentation T hree Year Audit work plan Page 127 of 144 AUDIT PROGRAM: Internal and External Council Workshop September 14, 2021 Page 128 of 144 POLICY AND REGULATIONS •Fiscal and Budgetary Policy •Controls on Director, City Manager, and Council authority •Regularly recurring cost of service rate and fee studies •Written procedures, department audits, transaction reviews, fraud awareness •Charter Article IV (mirrored in Fiscal Policies) •Controls on Council authority •Independent external auditor and reporting •State Law Local Government Code Chapter 103 •Annual external audit required, presented/filed publicly, must include retirement program information •Professional Standards: Generally Accepted Auditing Standards; Generally Accepted Governmental Auditing Standards Page 129 of 144 Current Resources •$72,000 annual ongoing appropriation in Accounting for annual required external audit •$75,000 annual ongoing appropriation in Finance to hire firms specializing in various auditing and financial services •$25,000 annual ongoing temporary personnel budget in Accounting for special projects •FY2022 onetime $30,000 for temporary personnel for GASB 87 implementation Page 130 of 144 Standard audits and programming •Payroll transactions •Travel and expense card transactions •Cash drawer / collections / petty cash •Maintain anonymous fraud reporting hotline and require annual employee training on recognizing and reporting fraud •Warehouse inventory accuracy •Required annual training on active grants •Annual external audit of citywide accounts •Continual improvement of processes and internal controls Page 131 of 144 Two -year look back on special projects •UMAX / Customer Care –2017 -2018 •Cash receipt review and UMAX process mapping •Workday ERP implementation –2018 -2020 •Comprehensive update of cross functional system access and controls •Risk Assessment –2018 –2020 •Citywide identification and prioritization of risks •Update on mitigation strategies implemented •Gartner study utilities / IT –2020 •Customer information and meter systems review and recommendations •State sales tax audit –2020 •Utility self-retained sales tax audit by State Comptroller •HIPAA Audit –2020 •Compliance of policies, procedures, and cybersecurity •Utility bill collections agency contract –2021 •Optimize collections of 90+ day past due bills for Water, Electric, Stormwater, Garbage Page 132 of 144 Business Value and Continuous Improvements •All travel audited up front –reduces clean up after the fact •Electric developer contributions collected up front, improved cash flow •UMAX –reporting, business process and user access issues mitigated •Gartner study –utility vision/strategy alignment, short-and long-term improvements to customer service and system management •Workday -reporting, business process and user access issues in prior system mitigated •Risk Assessment –high priorities like IT and Purchased Power mitigations adopted •Utility Sales Tax Audit –improved process for verifying sales tax exemptions •Utility Bill Collections Agency –improved collections and cash flow Page 133 of 144 In Progress / Coming Soon •Utility Connection Process Improvement Project–2020 •Large scale review of current utility fee assessments, workorder management system and large water meter installations to identify inefficiencies and impacts to revenue collections •Water Impact Fee reconciliation –2021 •In parallel with water rate study, improve tracking of collected fees and application of balances Page 134 of 144 In Progress / Coming Soon Continued •Cost Allocation Study for internal service funds –2021 •Consultant review of allocation methodologies for shared services in General and Joint Services Funds, rebuild of model •Review and make recommendations on IT, Fleet and Facilities models •Cable franchise fee -2021 •Last audited in 2014 •Ensure prior issues on computation of advertising revenue remain resolved; comprehensive review for any other issues Page 135 of 144 2021 Plan Audit/Project Of Completed Internal/External Frequency Cost Allocation Study External Every 5 Years Impact Fee Analysis External One Time Franchise Fees External Annual Rotation of Franchises Items in addition to standard programming listed on slide 3 Page 136 of 144 2022 Plan Audit/Project Of Completed Internal/External Frequency Citywide Fee Collection External Annual Rotation of Type of Fees Sales Tax (RFI/RFP)External Monthly GASB -87 Implementation (Required) Internal One Time Items in addition to standard programming listed on slide 3 Page 137 of 144 2023 Plan Audit/Project Of Completed Internal/External Frequency Hotel/Motel External Every five years Citywide Asset Inventory External One Time Items in addition to standard programming listed on slide 3 Page 138 of 144 Summary •Trend –concentration of activities around software implementations and utility processes •Business Value Realized –processes that improve accuracy and cash flow •Forward Looking Plan – •Maintain annual activities for controls (cash, payroll, etc.) •Rotate programming for revenue optimization (franchise fees, hotel tax, other fees) •One -time special projects (new GASB compliance) Page 139 of 144 Feedback and Next Steps •Council feedback on the 3 year-plan •Resource needs •Maintain annual funding $75K for specialized consultants knowledgeable in each revenue / expense type •Accounting and Finance Administration staffing requests to maintain existing service levels and allow capacity for special audit projects •Temporary personnel budget may need increase in FY2023 for citywide Asset Inventory Project •Support implementation of recommendations from audit projects •Implement the plan, provide annual update Page 140 of 144 2021-2023 CITY OF GEORGETOWN | FINANCE AND ACCOUNTING Audit Work Plan INTERNAL AND EXTERNAL Page 141 of 144 Audit Work Plan 2021-2023 Compliance Audits • Franchise fee payment compliance – review franchise agreements for compliance and accuracy of financial transactions, statements, and reports. • Review of hotel/motels room tax - verify the accuracy of occupancy tax payments made to the city. • Sales Tax Audit – review whether to contract out sales tax receipt data reporting, forecasting, and auditing • Mileage and travel audit Internal Controls • Citywide fee collection – review fee revenue across departments for process compliance and accuracy of financial transactions, statements, and reports. • Payroll audits • Cash drawer audits • P-Card Audits • Inventory of warehouse • Citywide Asset Inventory Performance/Other Projects • Cost allocation study – assessment and review of the allocated costs for internally shared services. • Water impact fee analysis – reconciliation of collected fees and review of tracking process • Maintain fraud training compliance Required Audits/Projects • External audit as part of fiscal year end • Grant single audit • GASB-87 implementation for leases Page 142 of 144 Audit Work Plan 2021-2023 Year to be Started Audit/Project Internal/External Owner Frequency 2021 Cost Allocation Study External Nathan Every 5 Years 2021 Impact Fee Analysis External Leigh One Time 2021 Franchise Fees External Elaine Annual Rotation of Franchise Type 2021 Cash Drawers Internal Cindy Annual 2021 Payroll Internal Cindy Annual 2021 Warehouse Inventory Internal Ed/Leah Annual 2021 Fraud Compliance Training Internal Leigh Annual 2021 Grant Single Audit External Elaine Annual 2021 External Year End Audit External Elaine Annual 2022 GASB-87 Implementation (Leases) Internal Elaine One Time 2022 Sales Tax External Nathan Monthly 2022 Citywide Fee Collection External Nathan Annual Rotation of Type of Fees 2022 Mileage and Travel Internal Laci Quarterly 2022 P-Cards Internal Laci Quarterly 2022 T-Cards Internal Laci Quarterly 2023 Citywide Asset Inventory Internal Elaine One Time 2023 Hotel/Motel External Cresta Every 5 years Page 143 of 144 Page 144 of 144