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HomeMy WebLinkAboutAgenda CC 03.08.2016 WorkshopNotice of M eeting of the Governing B ody of the City of Georgetown, Texas M arch 8, 2 01 6 The Ge orgetown City Council will meet on March 8 , 2016 at 4:00 PM at Co uncil Chambers, 101 E. 7th St., Geo rge to wn, Texas The City o f Georgetown is committed to co mpliance with the Americans with Disabilities Act (ADA). If you re quire assistance in participating at a public meeting due to a disability, as defined under the ADA, reasonable assistance, adaptations, or ac c ommo datio ns will be provided upo n request. P lease contact the City Se c retary's Office, least four (4 ) days prio r to the scheduled meeting date, at (512) 930-3652 or City Hall at 113 East 8th Street for additional information; TTY users ro ute through Relay Texas at 711. Policy De ve lopme nt/Re vie w Workshop - A Workshop discussion of the City’s annual year-end external audit and Co mprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30, 20 15 -- Laurie Brewer, Assistant City Manager and Leigh Wallace, Finance Director B Prese ntation regarding the FY201 7 Budget Calendar and Process – Paul Diaz, Budget Manager C Council co nsideration and directio n c oncerning the proposed 2016 Street Maintenance -- Mark Miller, Transportation Services Manager, Edward G. Polasek, AICP, Transportatio n Services Dire c to r and Jim Briggs, General Manager o f Utilities Exe cutive Se ssion In compliance with the Open Meetings Ac t, Chapter 551, Government Co de , Verno n's Texas Codes, Annotate d, the items listed below will be discussed in closed session and are subject to action in the regular se ssio n. D Se c . 55 1.0 71 : Consul tati on wi th Atto rney - Advice fro m attorney about pending or co ntemplated litigation and o ther matters on which the attorney has a duty to advise the City Co uncil, including agenda items Se c . 55 1.0 72 : Del i berati on Regardi ng Real Property - Deliberation concerning the acquisitio n of real property from San Gabriel Sto rage Systems Ve nture in connection with the Rive ry Blvd. Extension Project Se c . 55 1.0 74 : Personnel Matter s - City Manager, City Attorney, City Se c retary and Municipal Judge: Consideration of the appointment, employment, evaluatio n, reassignment, duties, discipline, o r dismissal Se c . 55 1.0 87 : Del i berati on Regardi ng Eco nomi c Devel opment Ne go ti ati ons - Pro ject Mesa - Pro ject Vo yager Adjournme nt Ce rtificate of Posting Page 1 of 231 I, Shelley No wling, City S ecretary for the C ity of Geo rgeto wn, Texas , do hereby c ertify that this Notic e o f Meeting was posted at City Hall, 113 E. 8th Street, a p lac e read ily acc es s ib le to the general pub lic at all times , o n the _____ day of _________________, 2016, at __________, and remained so p o s ted for at leas t 72 c o ntinuo us ho urs p receding the s cheduled time of s aid meeting. __________________________________ Shelley No wling, City S ecretary Page 2 of 231 City of Georgetown, Texas City Council Workshop Marc h 8, 2016 SUBJECT: Workshop discussion o f the City’s annual year-end e xternal audit and Comprehensive Annual Financial Report (CAFR) for the fiscal year ended September 30, 2015 -- Laurie Brewer, Assistant City Manage r and Leigh Wallace, Finance Dire c to r ITEM SUMMARY: The City’s auditors will present the results of the annual external audit and the final Comprehensive Annual Financ ial Report for the Fisc al Year Ended September 30, 2015. The City’s external auditor, Adam Mc Cane, CPA, with the firm of Weaver and Tidwe ll, LLP will also discuss the re sults of the auditors’ independent audit of the CAFR, co mpliance with auditing standards, testing over internal controls and fraud risk assessment. COMMENTS: Acceptance of this report is included on the consent Co uncil agenda. P DF of the final CAFR document will be pro vided electronically. Printed copies will be complete d once the City Council has acc e pted the report and will be available upo n request. FINANCIAL IMPACT: None SUBMITTED BY: Laurie Brewer, Assistant City Manager and Leigh Wallace, Finance Director ATTACHMENT S: Description CAFR Presentation City of Georgetown CAFR Draft Page 3 of 231 3/1/2016 1 Comprehensive Annual Financial Report For the year ended September 30, 2015 March 8, 2016 Background & Terms • CAFR - Comprehensive Annual Financial Report • GAAP - Generally Accepted Accounting Principals – Rules and standards by which all financial reporting is presented and prepared – Not the same as budgetary accounting • GASB - Governmental Accounting Standards Board – The oversight body for accounting standards for governmental entities Page 4 of 231 3/1/2016 2 Financial Reporting • Demonstrates fiduciary accountability to citizens, bondholders and granting agencies • Required by state law, City Charter and bond covenants – Prepare statements and supplemental information – Conduct annual audit Financial Reporting Audience • Important reporting and compliance tool for management and elected officials • Primary audience is technical not “average person” – Governmental accounting professionals, bond rating analysts, etc. – Used to evaluate credit worthiness, economic stability, financial standing Page 5 of 231 3/1/2016 3 Demonstrates Compliance • Council adopted budget • Bond covenants • Budget and fiscal policies • Investment policy • Grants • Proper internal controls Independent Audit • Performed by outside independent audit firm • Selected by Council • Conducted in compliance with Government Auditing Standards • Provides assurance of accurate reporting and financial integrity • Compliance with policies Page 6 of 231 3/1/2016 4 CAFR • Historical document – Financial condition and results of operations for year ended September 30, 2015 – Budget adopted September 2014 • Interim reporting – Monthly & quarterly revenue reports – Quarterly financial reports – Year end variance report Summary Statement of Net Position (in thousands) Similar to Balance Sheet 2015 2014 Current and other assets $ 154,266 $ 139,597 Capital assets 740,618 675,662 Total assets $ 894,884 $ 815,259 Deferred outflows of resources 8,049 $ 4,134 Total assets and deferred outflows $ 902,933 $ 819,393 Long-term liabilities 223,915 $ 195,790 Other liabilities 38,612 32,927 Total liabilities $262,527 $ 228,717 Net position: Net Investment in capital assets $ 568,265 $ 498,875 Restricted 3,958 825 Unrestricted 68,183 90,976 Total net position $ 640,406 $ 590,676 Total Primary Government Page 7 of 231 3/1/2016 5 Summary Statement of Activities (in thousands) Similar to Income Statement 2015 2014 Revenues: Governmental $ 81,210 $ 82,292 Business-Type 121,554 175,940 Total Revenues $ 202,764 $ 258,232 Expenses: Governmental 60,997 61,278 Business-Type 98,226 90,160 Total Expenses $ 159,223 $ 151,438 Change in net assets 43,541 106,794 Net Assets - Beginning 590,677 483,882 Restatement 6,188 - Net Assets - Ending $ 640,406 $ 590,676 Total Primary Government “Modified Approach” • Depreciation included on govt-wide statements – All assets except streets infrastructure • Modified Approach adopted in 2005 for streets infrastructure • Option for reporting the condition of the infrastructure instead of depreciating the infrastructure – Provide accountability to maintain streets • Council adopted a pavement condition index (PCI) of “85” to maintain the streets in “good” condition – Reviewed every 3 years – Reviewed in 2014 - current condition rated at 87.5 Page 8 of 231 3/1/2016 6 Comments from External Auditor Adam McCane, CPA Weaver and Tidwell, LLP Page 9 of 231 3/1/2016 7 Audit Summary • Unmodified opinion on the financial statements • Unmodified opinion on internal control and federal awards • New accounting standard implementation – GASB 68 - Pensions • Results of internal control procedures • Required communications • Other items Comprehensive Annual Financial Report For the year ended September 30, 2015 Final document will be available at: City Hall Georgetown Library Web Site Page 10 of 231 Comprehensive Annual Financial Report 2014 - 2015 City of Georgetown, Texas ...“Red Poppy Capital of Texas” DRAFT Page 11 of 231 DRAFT Page 12 of 231 CITY OF GEORGETOWN, TEXAS COMPREHENSIVE ANNUAL FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 Prepared by: Division of Finance and Administration Laurie Brewer, CGFO – Assistant City Manager Lisa Haines, CGFO – Controller DRAFT Page 13 of 231 This page intentionally left blank. DRAFT Page 14 of 231 TABLE OF CONTENTS INTRODUCTORY SECTION (UNAUDITED): Letter of Transmittal .....................................................................................................................................1 GFOA Certificate of Achievement ................................................................................................................9 Organizational Chart ..................................................................................................................................10 Elected Officials and Administrative Officers .............................................................................................11 City of Georgetown Map ............................................................................................................................12 FINANCIAL SECTION: Independent Auditor’s Report ....................................................................................................................13 Management’s Discussion and Analysis (Unaudited) ................................................................................16 Basic Financial Statements Government-wide Financial Statements Statement of Net Position .............................................................................................................28 Statement of Activities ...................................................................................................................29 Fund Financial Statements Governmental Funds Balance Sheet ........................................................................................................................30 Reconciliation of the Governmental Funds Balance Sheet to the Statement of Net Position ......................................................................................31 Statement of Revenues, Expenditures, and Changes in Fund Balance ...................................................................................................................32 Reconciliation of the Governmental Funds Statement of Revenues, Expenditures and Changes in Fund Balance to the Statement of Activities ..........................................33 Statement of Revenues, Expenditures, and Changes in Fund Balance Budget and Actual – General Fund ..................................................................................34 Proprietary Funds Statement of Net Position .......................................................................................................35 Statement of Revenues, Expenses and Changes in Fund Net Position ...............................37 Statement of Cash Flows .......................................................................................................38 Fiduciary Funds Statement of Fiduciary Net Position – Agency Funds ............................................................39 Notes to Financial Statements .............................................................................................................40 Required Supplementary Information Texas Municipal Retirement System – Schedule of Changes in Net Position Liability and Related Ratios ..................................................................................80 Other Post-employment Benefits .........................................................................................................81 Modified Approach for Streets Infrastructure Capital Assets ..............................................................82 Combining and Individual Fund Financial Statements and Schedules Combining Financial Statements – Nonmajor Governmental Funds Combining Balance Sheet ............................................................................................................84 Combining Statement of Revenues, Expenditures, and Changes in Fund Balance ....................86 DRAFT Page 15 of 231 FINANCIAL SECTION – CONTINUED: Combining and Individual Fund Financial Statements and Schedules – Continued Schedules of Revenues and Expenditures – (Budget Basis) – Budget and Actual (Non-GAAP) – Reconciled to GAAP Basis Special Revenue Funds Conservation ...................................................................................................................88 Court Fees .......................................................................................................................89 Development ...................................................................................................................90 Fire ...................................................................................................................................91 Library Restricted .............................................................................................................92 Parks ................................................................................................................................93 PEG Fees .........................................................................................................................94 Police ...............................................................................................................................95 Public Improvement Districts ...........................................................................................96 Street Tax .........................................................................................................................97 Tax Increment Reinvestment Zones ................................................................................98 Tourism ............................................................................................................................99 Supplementary Individual Fund Financial Statements and Schedules – Major Governmental Funds General Fund Schedule of Revenues and Expenditures (Budget Basis) – Budget and Actual (Non-GAAP) – Reconciled to GAAP Basis .......................................................................... 100 Georgetown Transportation Enhancement Corporation (GTEC) Schedule of Revenues and Expenditures (Budget Basis) – Budget and Actual (Non-GAAP) – Reconciled to GAAP Basis .......................................................................... 104 Debt Service Fund Schedule of Revenues and Expenditures (Budget Basis) – Budget and Actual (Non-GAAP) – Reconciled to GAAP Basis .......................................................................... 105 General Capital Projects Fund Schedule of Revenues and Expenditures (Budget Basis) – Budget and Actual (Non-GAAP) – Reconciled to GAAP Basis .......................................................................... 106 Combining Financial Statements - Nonmajor Proprietary Funds Enterprise Funds Combining Statement of Net Position ........................................................................................ 108 Combining Statement of Revenues, Expenses and Changes in Fund Net Position ................. 109 Combining Statement of Cash Flows ......................................................................................... 110 Internal Service Funds Combining Statement of Net Position ........................................................................................ 111 Combining Statement of Revenues, Expenses and Changes in Fund Net Position ................. 112 Combining Statement of Cash Flows ......................................................................................... 113 Supplementary Individual Fund Financial Statements Agency Funds Statement of Changes in Assets and Liabilities ......................................................................... 114 DRAFT Page 16 of 231 STATISTICAL SECTION (UNAUDITED): Net Position by Component – Last Ten Fiscal Years ............................................................................. 115 Changes in Net Position – Last Ten Fiscal Years .................................................................................. 117 Fund Balances of Governmental Funds – Last Ten Fiscal Years .......................................................... 121 Changes in Fund Balances of Governmental Funds – Last Ten Fiscal Years ....................................... 123 Property Tax Rates, Levies and Collections - Last Ten Fiscal Years ..................................................... 125 Assessed and Estimated Actual Value of Taxable Property - Last Ten Fiscal Years ............................ 127 Property Tax Rates - Direct and Overlapping Governments – Last Ten Fiscal Years ........................... 129 Principal Property Taxpayers – Current Year and Nine Years Ago ........................................................ 130 Taxable Sales by Category – Last Ten Fiscal Years .............................................................................. 131 Direct and Overlapping Sales Tax Rates – Last Ten Fiscal Years ......................................................... 133 Sales Tax Revenue Payers by Industry – Fiscal Years 2015 and 2006 ................................................. 134 Ratios of Outstanding Debt by Type – Last Ten Fiscal Years ................................................................ 135 Ratios of Net General Obligation Bonded Debt to Assessed Value and Net General Obligation Bonded Debt Per Capita – Last Ten Fiscal Years ...................................... 137 Computation of Direct and Estimated Overlapping Bonded Debt ........................................................... 139 Computation of Legal Debt Margin – Last Ten Fiscal Years .................................................................. 140 Revenue Bond Coverage - Utility Funds (1) – Last Ten Fiscal Years .................................................... 142 Utility System Condensed Statement of Operations (1) – Last Ten Fiscal Years .................................. 144 Utility System Condensed Statement of Operations (2) – Last Ten Fiscal Years .................................. 146 Demographic and Economic Statistics – Last Ten Fiscal Years ............................................................ 148 Principal Employers – Current Year and Nine Years Ago ...................................................................... 149 Full Time Equivalent City Government Employees by Function – Last Ten Fiscal Years ...................... 150 Operating Indicators by Functions – Last Ten Fiscal Years ................................................................... 152 Capital Assets by Functions – Last Ten Fiscal Years ............................................................................. 154 Water Usage (Gallons) – Last Ten Fiscal Years..................................................................................... 156 Ten Largest Water Customers ................................................................................................................ 157 Daily Flow (Wastewater Treatment) – Last Ten Fiscal Years ................................................................. 158 Ten Largest Wastewater Customers ...................................................................................................... 159 Valuation, Exemptions and Ad Valorem Tax Debt .................................................................................. 160 Taxable Assessed Valuations by Category – Last Six Fiscal Years ...................................................... 161 Authorized but Unissued General Obligation Bonds .............................................................................. 163 General Fund Revenues and Expenditure History – Last Ten Fiscal Years .......................................... 164 Municipal Sales Tax History – Last Ten Fiscal Years ............................................................................. 166 Monthly & Volumetric Water Rates ......................................................................................................... 167 Monthly Wastewater Rates ..................................................................................................................... 168 Monthly Electric Rates ............................................................................................................................ 169 COMPLIANCE SECTION: Independent Auditor’s Report on Internal Control Over Financial Reporting and on Compliance and Other Matters based on an Audit of Financial Statements Performed in Accordance with Government Auditing Standards ..................................................... 170 Independent Auditor’s Report on Compliance for Each Major Program and on Internal Control Over Compliance Required by OMB Circular A-133 ............................................... 172 Schedule of Findings and Questioned Costs .......................................................................................... 174 Schedule of Expenditures of Federal Awards ......................................................................................... 178 Notes to the Schedule of Expenditures of Federal Awards .................................................................... 179 DRAFT Page 17 of 231 This page intentionally left blank. DRAFT Page 18 of 231 Introductory Section DRAFT Page 19 of 231 INTRODUCTORY SECTION (UNAUDITED) Letter of Transmittal ............................................................................................................................................1 GFOA Certificate of Achievement ......................................................................................................................9 Organizational Chart .........................................................................................................................................10 Elected Officials and Administrative Officers ....................................................................................................11 City of Georgetown Map ...................................................................................................................................12 DRAFT Page 20 of 231 Page 1 Transmittal Letter March 8, 2016 Honorable Mayor and City Council, City Manager and Citizens of Georgetown, Texas: The comprehensive annual financial report of the City of Georgetown, Texas (the City) for the year ended September 30, 2015, is hereby submitted. The financial statements are presented in conformity with accounting principles generally accepted in the United States of America as set forth by the Governmental Accounting Standards Board (GASB) and have been audited by independent auditors in accordance with generally accepted auditing standards. Management Responsibility for Financial Information. The City’s Finance and Administration Division has prepared the report and is responsible for both the accuracy of the data and the completeness and fairness of the presentation, including all disclosures. To the best of our knowledge and belief, the enclosed data is complete and reliable in all material respects. All disclosures necessary to enable the reader to gain an understanding of the City's financial activities have been included. The Reporting Entity. This report includes all the funds of the City, as well as, the City’s discretely presented component unit, the Georgetown Economic Development Corporation (GEDCO), its Texas 4A economic development corporation. The City provides a full range of services, which include police and fire protection; construction and maintenance of streets and other infrastructure; recreational activities and cultural events. In addition to general government activities, the City also provides electric, wastewater, water, stormwater drainage and airport services which are included in the reporting entity. The City is also financially accountable for Georgetown Transportation Enhancement Corporation (GTEC), a Texas 4B economic development corporation, which funds transportation projects that enhance economic development within the City. GTEC is presented as a blended component unit within the reporting entity. Management Discussion and Analysis. Generally accepted accounting principles (GAAP) require management to provide a narrative introduction, overview and analysis to accompany the basic financial statements in the form of Management’s Discussion and Analysis (MD&A). This letter of transmittal is designed to complement the MD&A and should be read in conjunction with it. The City’s MD&A can be found immediately following the independent auditors’ report located at the front of the financial section of this report. DESCRIPTION OF THE CITY Georgetown is a Home Rule Charter City and operates under a Council - Manager form of government. A mayor, elected at large, and seven council members, elected from single member districts, serve staggered, three-year terms. Georgetown is located on Interstate 35, the major corridor between Dallas and San Antonio, at the intersection of State Highway 130. Georgetown was founded in 1848 with a strong agricultural base, in the heart of Williamson County, 26 miles north of Austin. Today, Georgetown has an estimated population of 59,391 within the city limits, with an estimated population of 85,753 within the extra-territorial jurisdiction (ETJ) and serves as the county seat of Williamson County. Georgetown’s economic development initiatives to expand jobs and tax base have been with a careful focus of maintaining and expanding its status as a signature destination. The award winning historic downtown square, along with its extensive, award-winning parks and river trail systems along the North and South San Gabriel Rivers and Lake Georgetown have been leveraged to make the City one of the most attractive places to live and work. DRAFT Page 21 of 231 Page 2 Transmittal Letter This unique character and small town charm was a key factor for Del Webb Corporation when it built its first Texas development in Georgetown with the 1995 opening of Sun City, Texas. Today, over 7,200 homes with over 13,500 retirees make Sun City and Georgetown their home. Georgetown is also home to Southwestern University, which continues to receive national recognition. The University has been named to Kiplinger’s list of the 100 best values in liberal arts colleges and has been noted as one of ‘America’s Best Value Colleges’ by the Princeton Review. With more than 1,528 students and over 500 employees, the University provides substantial economic and cultural contributions to Georgetown. GEORGETOWN'S ECONOMIC OUTLOOK AND FINANCIAL CONDITIONS Economic Outlook The Texas economy has continued to thrive even better than most of the nation. Over the past 24 months, the Austin Metropolitan Statistical Area has been one of the more robust and healthy economies in the nation. Many cities in the region have seen tremendous growth in property values, single family housing permits, sales tax revenue, and population. Georgetown is no exception.   Over the past year, Georgetown’s total assessed value has grown by nearly $600 million, which represents an increase of over 10% from last year. This year’s increase marks the 2nd year in a row in which the City has seen a double digit percentage increase in total assessed value. The average home value in the City has risen to $234,785. This represents an increase of 11.5% relative to last year. Permits for single family residential housing totaled over 1,300 in 2015, which continues a three year growth trend.   US Census data showed Georgetown was the second fastest growing city in America in 2015, with a population over 50,000. On average, over 11 people a day moved to the City to make Georgetown their home. DRAFT Page 22 of 231 Page 3 Transmittal Letter The Central Texas unemployment rate was 4.7% for December 2015, compared to 5.0% nationally. According to the Texas Comptroller of Public Accounts, Texas added 166,900 jobs in 2015. Texas and the area continued to see strong growth in new jobs, as well as, retail and business sales. The City’s commercial and job base continued to grow with the expansion of several small commercial and retail centers, new healthcare facilities, added retail and restaurants on the downtown square and an agreement that brings a major hotel/conference center to the City. Sales tax revenues increased 5% over the prior year, demonstrating solid growth in the local economy for the sixth consecutive year. The first quarter of the 2016 fiscal year continued this trend with sales tax receipts coming in 6.5% over the prior year. While the City believes this growth will continue, a conservative approach is taken when estimating available resources for each upcoming budget year as national and world wide issues continue to show some uncertainty. As new retail developments occur, estimates will be updated. The local economy is not directly affected by the energy industry and the drop in oil prices; however, the City is carefully monitoring for any impacts to the greater Texas economy. The City approved a development agreement for the Sheraton Hotel and Conference Center at the Summit at Rivery Park site. The development includes 222 rooms, 16,000 square feet of conference space, a parking garage and future retail and restaurant development valued at approximately $150 million at full build out. Completion is expected in July of 2016. In addition, Texas Outdoor Power Equipment constructed a 60,000 square-foot speculative building by the Georgetown Airport, and Inner Visions built another 60,000 square- foot speculative building in south Georgetown. The groundwork was laid for new development in the South Georgetown TIRZ, with potentially 1,000,000 square-feet of Class A office space to be constructed over the next several years. In the northern gateway, the City is working with developers interested in constructing a retail center east of the Airport and along Interstate 35. The City Construction continues at the Rivery Hotel and  Convention Center.  DRAFT Page 23 of 231 Page 4 Transmittal Letter also continued its support of the Texas Life Sciences Collaboration Center (TLCC), who completed their second building with the new space almost fully leased and site plans underway for a third building. The Georgetown South Tax Increment Reinvestment Zone (TIRZ) was created in the summer of 2014, with water, wastewater and road improvements soon to follow on the 603 acre site on south IH-35. This development is significant because it opens the next phase of retail and commercial development that is adjacent to the new Bass Pro Shop site at the Round Rock Premium Outlet Mall. New development continues in the downtown area with the opening of many small shops and cafes that further enhance the City’s historic old-town district. The downtown area was further enhanced in 2015 with the opening of several new restaurant and retail locations, including Eats on Eighth, 600 Degrees Pizza and Brazos Market.    Georgetown takes an active role in water and wastewater planning with the Brazos River Authority (BRA) to find regional solutions to the ever increasing demand for services, while protecting the natural environment within the area. Growth within the utilities continues to have strong positive impacts to the financial and economic conditions of Georgetown.   INITIATIVES Transportation: In May of 2015, voters approved a $105 million Transportation Bond. The successful bond election will provide the City the capital to invest in key transportation projects over the next decade. Council formed a bond committee, and approved a bond package which seeks to address the following eight transportation issues:  Reduce traffic on Williams Dr. and improve circulation in the gateway area. DRAFT Page 24 of 231 Page 5 Transmittal Letter  Reduce traffic on SH 29.  Repair sidewalk ADA and safety issues.  Reduce congestion and improve traffic flow on Leander Rd.  Improve intersection management.  Improve accessibility to GISD facilities from Austin Ave. and FM 971.  Improve safety and access from SH 29 to Sam Houston Ave.  Improve capacity and safety of eastern SH 29. The 2015 bond referendum passed on May 9 with 75% approval. Included with the bond package is a contract with the voters that provides guidelines for the maximum property tax impact resulting from bond debt in a given year. The contracts clarifies that property tax rate increases related to these bonds will not exceed two-cents annually, or exceed ten-cents cumulatively. The FY2016 budget includes $20 million to build the Southwest Bypass, a north – south corridor designed to address mobility concerns and ensure connectivity. Public Safety: The City opened the Public Safety Operations and Training Center in FY2015. The 76,000 square foot building is home to the Police Department, Fire Administration, Emergency Dispatch, and the City’s Emergency Operations Center. The campus features a first rate training center with movable partitions and observation catwalks, an outdoor classroom, and a slow-speed driving track. It is expected the facility will be able to serve the current needs and future of public safety. Investments in Public Safety also included the expansion of the Emergency Medical Service (EMS) program. Beginning on Oct. 1, 2015, the City of Georgetown Fire Department added transport services to the first responder system, allowing them to transport patients who need additional care to hospital facilities. Currently, over 75% of the emergency calls responded to by the Fire Department are medical emergencies. This move to expand the EMS program allows the Fire Department to operate more efficiently and ensure that advanced care is only minutes away. Energy Services. With the ending of the City of Georgetown’s wholesale power agreement with the Lower Colorado River Authority (LCRA) in September 2012 and favorable settlement of the resulting lawsuit in 2014, the City extended its active management of its daily energy supply to cover the larger market exposures, congestion issues, and real time settlements that LCRA previously handled. In 2015, the City finalized a solar electric deal with SunEdison and saw the Spinning Spur Three wind farm come online. The solar project is expected to be operational by Jan. 1, 2017. With all of the purchased power contracts in place, the City of Georgetown is poised to be only the second municipally owned utility to be 100% green by 2017 and the first to do so using zero emissions. The investments in these purchased power contracts ensure the City can provide our growing community with sustainable, renewable, and cost effective energy for decades to come. These new long term contracts provide a hedge against carbon legislation costs. General fund franchise fee revenues are based on the number of kWh sold; therefore, no impact on other City funds is expected from lowering costs to customers. The City has further modernized its rate structure to reflect a cost of service basis with higher fixed monthly charges and lower variable kWh rates. This further stabilizes the City’s revenue stream and enhances its ability to use the electric utility as an economic development tool. The City already provides power for the Premiere Outlet Mall, Scott and White Hospital and major restaurant and retailers in the north Round Rock area. The completion of the Bass Pro Shop late in 2015 at the outlet mall site further expanded Georgetown’s commercial electric customer base. Council and Staff at the opening of the  Public Safety Operations and Training Center.  DRAFT Page 25 of 231 Page 6 Transmittal Letter Regional Water. The City was approached by the Chisholm Trail Special Utility District (CTSUD) in 2011 about the possibility of merging with the City’s water system. The CTSUD provided water service to several areas within the City and the City’s extra territorial jurisdiction (ETJ), as well as a large portion of Western Williamson and Southern Bell Counties. This consolidation added 7,500 new water customers and over 375 square miles of new service territory. This consolidation, now branded as the City’s “Western District”, was completed in 2015 and provides for stronger regional water planning and resource management to allow for future growth within the region.  Signature Destination. The City of Georgetown works continuously to develop itself as a signature destination in an effort to make our home a special place to live with a high-quality of life: Award Winning Parks and Trail System - The City continues to expand its award winning park system through continued development of the City’s trail system along the San Gabriel Rivers to Lake Georgetown. In November 2008 city voters authorized $35.5 million in bonds to fund park improvements. The City adopted the Parks Master Plan in March 2009 to continue the river corridor preservation and expand parks and green space. In 2015, the Parks Department completed the Master Plan for San Gabriel Park, constructed a new splash pad in San Jose Park, replaced the Creative Playscape, and developed an operations and maintenance plan for Garey Park, as well as a master plan for construction. Most Beautiful Town Square in Texas - The City completed capital improvements for the historic downtown included rehabilitating 8th and 9th Streets, a new 140 space parking lot, and a comprehensive downtown parking study, with recommendations to ensure the Square remains an effective and relevant economic touchstone in Georgetown. Downtown Georgetown was recognized for having the Best Marketing Campaign and Best Public Improvement by the Texas Downtown Association for the Most Beautiful Town Square in Texas campaign and the completion of the Georgetown Art Center. The Downtown district was also designated as a cultural district by the Texas Commission on the Arts, which provides nation-wide recognition for programming, as well as opportunities for future funding of projects. Long Range Planning. Planning for Georgetown’s future is a major priority, as the City formally adopted a new comprehensive plan in 2008 called the Georgetown 2030 Plan. This Plan provides vision for the future and is designed to address growth issues facing the community over the next 20+ years. This project required citizens throughout the community to provide the foundation for policies needed to ensure that the Georgetown of 2030 has the unique quality of life and economic vitality that it does today. San Gabriel Park trail.  DRAFT Page 26 of 231 Page 7 Transmittal Letter The City’s 2030 Plan has been defined by City Council with five focus areas: Economic Development, Public Safety, Signature Destination, Transportation and Utilities. This framework guides the City’s business and financial planning process. Staff prepares business plans by focus area and a five-year financial model to direct sound fiscal and policy decisions while capitalizing on the positive momentum in the local and state economy. FINANCIAL INFORMATION The City is responsible for establishing and maintaining internal controls designed to ensure that the assets of the City are protected from loss, theft or misuse and that adequate accounting data is compiled to allow for the preparation of financial statements in conformity with generally accepted accounting principles. Internal controls are designed to provide reasonable, but not absolute, assurance that these objectives are met. The concept of reasonable assurance recognizes that: (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by management. The City’s Finance Director, Controller, and other key staff in the Finance and Administration Division design and maintain the internal control structure. These controls are under continual review by management, and under annual review by the independent auditors. During the year, the Finance Division performs internal audits on selected procedures and operations throughout the City organization. The selection of priorities and timing of audits are determined by the Finance Director, along with the City Manager. Single Audit. As a recipient of federal and state financial assistance, the City is responsible for ensuring that adequate internal controls are in place to ensure compliance with applicable laws and regulations related to those programs. Internal controls are subject to periodic evaluation by management. The tests relating to the receipt of such funds are known as Single Audit testing. These tests are made to determine the adequacy of internal controls, including that portion related to federal financial assistance programs, as well as to determine that the City has complied with applicable laws and regulations. The compliance section is included in the final section of this document. Budgetary Controls. The City maintains budgetary controls to ensure compliance with legal provisions embodied in the annual appropriated budget approved by the City Council. Activities of all funds are included in the annual appropriated budget. The level of budgetary control (that is, the level at which expenditures cannot legally exceed the appropriated amount) is established by division and department within an individual fund. The City also maintains an encumbrance accounting system as one technique of accomplishing budgetary control. Encumbered amounts are reserved at year-end and carried forward into the following year. As demonstrated by the statements and schedules included in the financial section of this report, the City continues to meet its responsibility for sound financial management. OTHER INFORMATION Independent Audit. The City Charter requires an annual audit by independent certified public accountants. The accounting firm of Weaver and Tidwell, LLP was selected by the City Council. The goal of the independent audit is to provide reasonable assurance that the financial statements of the City for the fiscal year ended September 30, 2015, are free of material misstatement. The independent auditor concluded, based upon the audit, that there was a reasonable basis for rendering an unqualified opinion and that the City’s financial statements for the fiscal year ended September 30, 2015, are fairly presented in conformity with GAAP. The independent auditor’s report on the basic financial statements and schedules are included in the financial section of this report. Awards. The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the City for its DRAFT Page 27 of 231 Page 8 Transmittal Letter Comprehensive Annual Financial Report for the fiscal year ended September 30, 2014. The Certificate of Achievement is the highest form of recognition for excellence in state and local government financial reporting. In order to be awarded a Certificate of Achievement, a government unit must publish an easily readable and efficiently organized Comprehensive Annual Financial Report, whose contents conform to program standards. Such Comprehensive Annual Financial Reports must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year. The City has received a Certificate of Achievement for twenty-eight (28) consecutive years. We believe our current report continues to conform to the Certificate of Achievement program requirements, and we are submitting it to the GFOA. We are also proud to report that the GFOA has presented the Distinguished Budget Presentation Award to the City of Georgetown for each of the past twenty-six (26) years. Acknowledgments. The presentation of this report on a timely basis could not be accomplished without the efficient and dedicated services of the entire staff of the Finance Division. We would like to express our appreciation to all members of the division who assisted and contributed to its presentation. Special acknowledgment goes to Kara McSwiggin, Senior Accountant; Debbie Mitchell, Senior Accountant; Tristan Whitmire, Senior Accountant; La’Mar Kemp, Accountant; Paul Diaz, Budget Manager; and Danella Elliott, Executive Assistant, for their dedication in preparing this report. We would also like to thank the Mayor and City Council. The preparation of this report would not be possible without their leadership and support. Sincerely, David Morgan Laurie Brewer, CGFO City Manager Assistant City Manager Lisa Haines, CGFO Controller   DRAFT Page 28 of 231 9 DRAFT Page 29 of 231 10 DRAFT Page 30 of 231 11 CITY OF GEORGETOWN, TEXAS ELECTED OFFICIALS AND ADMINISTRATIVE OFFICERS SEPTEMBER 30, 2015 ELECTED OFFICIALS Mayor Dale Ross City Council Member, District 2, Mayor Pro Tem Keith Brainard City Council Member, District 1 Anna Eby City Council Member, District 2, Mayor Pro Tem Keith Brainard City Council Member, District 3 John Hesser City Council Member, District 4 Steve Fought City Council Member, District 5 Ty Gipson City Council Member, District 6 Rachael Jonrowe City Council Member, District 7 Tommy Gonzalez APPOINTED OFFICIALS City Manager David Morgan Acting City Attorney Skye Masson City Secretary Shelley Nowling Municipal Court Judge Randy Stump OTHER CITY OFFICIALS General Manager for Utilities Jim Briggs Assistant City Manager Laurie Brewer Fire Chief John Sullivan Police Chief Wayne Nero DRAFT Page 31 of 231 12 Austin Dallas/Fort Worth San Antonio Lubbock El Paso Amarillo Houston Georgetown Location Georgetown is the northern most “gateway” to the gently rolling hills of Central Texas. While Georgetown offers the amenities and charm of a small community rooted in values of days gone by, it is strategically and centrally located in the middle of the four major metropolitan areas of Texas. Austin is 26 miles south, Dallas is three hours north, Houston is three hours southeast and San Antonio is just one-and-a-half hours south, placing Georgetown in a very advantageous position for cultural and economic development. Traveling to and from Georgetown is easy, as it is at the crossroads of IH-35 going north/south and State Highway 29 going east/west. Access to Georgetown via the Austin-Bergstrom International Airport was made much easier with the opening of State Highway 130, the toll road from Georgetown to San Antonio that parallels IH-35. DRAFT Page 32 of 231 This page intentionally left blank. DRAFT Page 33 of 231 Financial Section DRAFT Page 34 of 231 FINANCIAL SECTION Independent Auditor’s Report ..............................................................................................................13 Management’s Discussion and Analysis (Unaudited) .........................................................................16 Basic Financial Statements Government-wide Financial Statements .......................................................................................28 Fund Financial Statements Governmental Funds .....................................................................................................................30 Proprietary Funds .............................................................................................................................. .35 Fiduciary Funds ...................................................................................................................................39 Notes to the Financial Statements.......................................................................................................40 Required Supplementary Information Texas Municipal Retirement System Analysis of Funding Progress ............................................80 Modified Approach for Streets Infrastructure Capital Assets ........................................................82 Combining and Individual Fund Statements and Schedules Combining Financial Statements – Non-Major Governmental Funds ..........................................84 Schedules of Revenues, Expenditures and Changes in Fund Balances – Budget and Actual Special Revenue Funds ........................................................................................88 Supplementary Individual Fund Financial Statements and Schedules General Fund ............................................................................................................................. 100 Georgetown Transportation Enhancement Corporation (GTEC) .............................................. 104 Debt Service Fund .................................................................................................................................. 105 General Capital Projects ............................................................................................................ 106 Nonmajor Proprietary Funds Enterprise Funds ........................................................................................................................ 107 Internal Service Funds ............................................................................................................... 111 Supplementary Individual Fund Financial Statements Agency Funds ............................................................................................................................ 114 DRAFT Page 35 of 231 AN INDEPENDENT MEMBER OF BAKER TILLY INTERNATIONAL WEAVER AND TIDWELL, L.L.P. CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS 1601 SOUTH MOPAC EXPRESSWAY, SUITE D250, AUSTIN, TX 78746 P: 512.609.1900 F: 512.609.1911 13 INDEPENDENT AUDITOR’S REPORT The Honorable Mayor Members of the City Council City of Georgetown, Texas Report on the Financial Statements We have audited the accompanying financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Georgetown, Texas (the City), as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements as listed in the table of contents. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditor’s Responsibility Our responsibility is to express opinions on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the financial statements referred to above present fairly, in all material respects, the respective financial position of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City, as of September 30, 2015, and the respective changes in financial position and, where applicable, cash flows thereof, and the respective budgetary comparison for the general fund for the year then ended in accordance with accounting principles generally accepted in the United States of America. DRAFT Page 36 of 231 The Honorable Mayor Members of the City Council City of Georgetown, Texas 14 Change in Accounting Principles As discussed in Note 13 to the financial statements, in 2015 the City adopted new accounting guidance, GASB Statement No. 68, Accounting and Financial Reporting for Pensions – an Amendment of GASB Statement No. 27 and GASB Statement No. 71, Pension Transition for Contributions Made Subsequent to the Measurement Date. Our opinion is not modified with respect to this matter. Other Matters Required Supplementary Information Accounting principles generally accepted in the United States of America require that the management’s discussion and analysis, Texas Municipal Retirement System pension schedules, Other Post-employment Benefits, and Modified Approach for Street Infrastructure Capital Assets on pages 16 – 27 and 82 - 84 be presented to supplement the basic financial statements. Such information, although not a part of the basic financial statements, is required by the Governmental Accounting Standards Board who considers it to be an essential part of financial reporting for placing the basic financial statements in an appropriate operational, economic, or historical context. We have applied certain limited procedures to the required supplementary information in accordance with auditing standards generally accepted in the United States of America, which consisted of inquiries of management about the methods of preparing the information and comparing the information for consistency with management’s responses to our inquiries, the basic financial statements, and other knowledge we obtained during our audit of the basic financial statements. We do not express an opinion or provide any assurance on the information because the limited procedures do not provide us with sufficient evidence to express an opinion or provide any assurance. Other Information Our audit was conducted for the purpose of forming opinions on the financial statements that collectively comprise the City’s basic financial statements. The introductory section, combining and individual major and nonmajor fund financial statements and schedules and statistical section are presented for purposes of additional analysis and are not a required part of the basic financial statements. The schedule of expenditures of federal awards is presented for the purposes of additional analysis as required by U.S. Office of Management and Budget Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, and is also not a required part of the basic financial statements. The combining and individual major and nonmajor fund financial statements and schedules and the schedule of the expenditures of federal awards are the responsibility of management and were derived from and relate directly to the underlying accounting and other records used to prepare the basic financial statements. Such information has been subjected to the auditing procedures applied in the audit of the basic financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the basic financial statements or to the basic financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the combining and individual major and nonmajor fund financial statements and schedules and the schedule of expenditures of federal awards are fairly stated, in all material respects, in relation to the basic financial statements as a whole. The introductory and statistical sections listed in the table of contents have not been subjected to the auditing procedures applied in the audit of the basic financial statements, and accordingly, we do not express an opinion or provide any assurance on them. DRAFT Page 37 of 231 The Honorable Mayor Members of the City Council City of Georgetown, Texas 15 Other Reporting Required by Government Auditing Standards In accordance with Government Auditing Standards, we have also issued our report dated February 24, 2016 on our consideration of the City’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of our testing of internal control over financial reporting and compliance and the results of that testing, and not to provide an opinion on internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the City’s internal control over financial reporting and compliance. WEAVER AND TIDWELL, L.L.P. Austin, Texas February 24, 2016 DRAFT Page 38 of 231 CITY OF GEORGETOWN, TEXAS MD&A 16 . CITY OF GEORGETOWN, TEXAS MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion and analysis of the City of Georgetown financial performance provides an overview of the City’s financial activities for the fiscal year ended September 30, 2015. Please read it in conjunction with the transmittal letter at the front of this report and the City’s financial statements, which follow this section. FINANCIAL HIGHLIGHTS General Fund  At the end of the current fiscal year, the fund balance of the General Fund was $12,003,855 or 1.4% lower than FY 2014 fund balance. The fund had $7.7 million of committed fund balance, $1.8 million of assigned fund balance and $2.4 million of unassigned fund balance. Revenues were $487,000 more than the original budget estimates.  General Fund revenues increased $3.0 million, an increase of 7.7% over FY 2014. This increase is due to greater revenues from growth and growth in sales tax and franchise tax revenues, and increased ad valorem taxes.  General Fund expenditures increased by $3.8 million, an increase of 8.7% over FY 2014. This increase was due to public safety’s 1% COLA effective January 2015, scheduled street maintenance, and city-wide salaries increased due to merit and 2 ½% COLA that went into effect February 2015. Governmental Activities  On a government-wide basis for governmental activities, the City had expenses net of program revenue of $26.9 million. General revenues and transfers totaled $52.0 million, resulting in an increase in net position of $25.1 million.  As of September 30, 2015, the City's governmental activities reported combined ending net position balances of $263.4 million. The largest element of this balance is the value of the City’s investment in capital assets which totaled $239.4 million. Capital assets include the value of streets, parks and facilities, net of related debt.  During fiscal year ended September 30, 2015, the City issued approximately $17.805 million in General Obligation and Certificates of Obligation bonds for entity-wide purposes. The debt issue included $4.345 million for voter-approved general capital projects for roads. The City also issued $6.36 million in Refunding GO bonds to retire outstanding debt issued at a higher interest rate, with a net savings of $392,000 and $7.755 million in senior lien sales tax revenue refunding bonds, with a net savings of $292,000. The City's general obligation debt is rated AA+ by Standard & Poor's and AA2 by Moody's. Business-Type Activities  The net position of the City's business-type activities had a current year increase of $31.9 million. The current year increase is due to the continued growth of the customer base of the utility systems. The City also received $9.4 million of infrastructure assets contributed by developers for commercial projects and residential subdivisions.  The City’s total debt issue included $10.92 million of utility system revenue bonds for electric transformers and system replacement, water system improvements to include a new elevated storage facility and wastewater line upgrades, all to be paid from utility system revenues. The City’s Standard & Poor's rating is AA and the Moody's rating is AA2 on the utility system revenue debt. Entity-Wide  The City's total net position on a government-wide basis was $640.4 million at September 30, 2015, an increase of 8.4% over September 30, 2014. Most of this balance is invested in capital assets, restricted for specific purposes.  The City received $27.1 million of grants and other capital contributions in FY 2015. DRAFT Page 39 of 231 CITY OF GEORGETOWN, TEXAS MD&A 17 USING THE FINANCIAL SECTION OF THIS COMPREHENSIVE ANNUAL FINANCIAL REPORT This Comprehensive Annual Financial Report consists of three sections: introductory, financial and statistical. As illustrated in the following chart, the financial section of this report has three components: management’s discussion and analysis (this section), the basic financial statements, and required supplementary information. Components of the Financial Section BASIC FINANCIAL STATEMENTS GOVERNMENT-WIDE FINANCIAL STATEMENTS The government-wide financial statements report information about the City as a whole, using accounting methods similar to those used by private-sector companies. The statement of net position includes all of the government’s assets and liabilities, reported using the full accrual basis of accounting. The statement of activities accounts for all of the current year’s revenues and expenses, regardless of when cash is received or paid. The two government-wide statements report the City’s net position and how it has changed. Net position, which is the difference between the City’s assets and deferred outflows and liabilities and deferred inflows, are one way to measure the financial health of the City. Over time, increases or decreases in the City’s net position is an indicator of whether its financial health is improving or deteriorating. To assess the overall health of the City, one needs to consider other non-financial factors such as changes in the City’s property tax base and condition of the City’s infrastructure. The government-wide financial statements of the City are divided into two categories: MANAGEMENT’S DISCUSSION AND ANALYSIS FINANCIAL STATEMENTS REQUIRED SUPPLEMENTARY INFORMATION Government-wide Governmental Activities (Full Accrual) Business-Type Activities (Full Accrual) Notes to the Financial Statements Fund Governmental (Modified Accrual) Proprietary (Full Accrual) Fiduciary (Full Accrual) DRAFT Page 40 of 231 CITY OF GEORGETOWN, TEXAS MD&A 18 Governmental Activities – Most of the City’s basic services are included here, such as police, fire and other public safety services, parks and recreation, public library, street maintenance, environmental services, and general administration. Property and sales taxes, return on investment from the City’s utility services, and charges for services finance most of these activities. Business-type Activities – The City’s Water Services Fund, which includes water, wastewater and irrigation services, as well as its Electric utility, are reported here. Stormwater Drainage and the City’s Airport are also reported in these activities. Fees charged to customers fund the costs of providing these services. FUND FINANCIAL STATEMENTS The fund financial statements provide more detailed information about the City’s most significant funds and will be more familiar to traditional users of government financial statements. The focus is now on major funds rather than fund types. The City has three types of funds: Governmental Funds – General Fund, Special Revenue Funds, Capital Projects Funds and the Debt Service Fund are governmental funds, which focus on: (1) How cash and other financial assets can readily be converted to cash flow (in and out), and (2) Year-end balances readily available for spending. Consequently, the governmental funds statements provide a short-term view that helps determine whether there are greater or fewer financial resources that can be spent in the near future to finance the City’s programs. Because this information does not encompass the additional long-term focus of the government-wide statements, additional information is provided with the governmental fund financial statements that explain the reconciliation between the fund statements and the government-wide statements. Proprietary Funds – Services for which the City collects fees and rates intended to fully recover the cost of providing the service are reported in proprietary funds. Two types of proprietary funds are allowed in governmental accounting: enterprise funds and internal service funds. These funds, similar to government-wide statements, provide both long-term and short-term financial information. The City’s enterprise funds are substantially the same as its business-type activities, but the fund financial statements provide more detail and additional information, such as cash flows. The City uses enterprise funds to account for its electric, water services, airport, and stormwater drainage activities. The City uses internal service funds to report activities that provide supplies and services for the City’s other programs, activities and funds. The City’s internal service funds are used in providing facility maintenance, fleet services, joint services (providing administrative functions to the other funds), as well as information technology services and self- funded health insurance. Fiduciary Funds – The City is trustee, or fiduciary, for certain amounts held on behalf of others, and for certain pass-through arrangements. The City is responsible for ensuring that the assets reported in these funds are used for their intended purposes. The City’s fiduciary activities are reported in a separate statement of fiduciary net assets. Assets for assessment collections for the City's public improvement districts and pass-through lease agreements for Texas Capital Fund projects are held in fiduciary funds. These fiduciary activities are excluded from the City’s government-wide financial statements because the City cannot use these assets to finance its operations. DRAFT Page 41 of 231 CITY OF GEORGETOWN, TEXAS MD&A 19 FINANCIAL ANALYSIS OF THE CITY AS A WHOLE Statement of Net Position: The following table reflects the condensed Statement of Net Position: 2015 2014 2015 2014 2015 2014 Current and other assets $ 69,469 $ 72,851 $ 84,797 $ 66,746 $ 154,266 $ 139,597 Capital assets 350,705 312,205 389,913 363,457 740,618 675,662 Total assets $ 420,174 $ 385,056 $ 474,710 $ 430,203 $ 894,884 $ 815,259 Deferred outflows of resources $ 5,832 $ 2,262 $ 2,217 $ 1,872 8,049 $ 4,134 Total assets and deferred outflows $ 426,006 $ 387,318 $ 476,927 $ 432,075 $ 902,933 $ 819,393 Long-term liabilities $ 140,358 $ 123,796 $ 83,557 $ 71,994 223,915 $ 195,790 Other liabilities 22,256 17,990 16,356 14,937 38,612 32,927 Total liabilities $ 162,614 $ 141,786 $ 99,913 $ 86,931 $ 262,527 $ 228,717 Net position: Net Investment in capital assets $ 239,378 $ 211,306 $ 328,887 $ 287,569 $ 568,265 $ 498,875 Restricted 3,958 825 - - 3,958 825 Unrestricted 20,056 33,401 48,127 57,575 68,183 90,976 Total net position $ 263,392 $ 245,532 $ 377,014 $ 345,144 $ 640,406 $ 590,676 Summary Statement of Net Position (In thousands) Govtl Activities Bus-Type Activities Total Primary Government DRAFT Page 42 of 231 CITY OF GEORGETOWN, TEXAS MD&A 20 The City's combined net position increased by $49 million to $640 million from $591 million in FY 2014.  Net position of Governmental Activities was $263.4 million. Most of these assets are invested in capital assets or restricted for particular purposes, such as debt service or capital projects.  The City's unrestricted net position for governmental activities, which can be used to finance day to day operations, totaled $20.1 million. Of that total, $1.7 million was unassigned fund balance available for future appropriations.  Included in unrestricted net position are fund balances that are earmarked for particular purposes, such as parks improvements, street maintenance, development, and tourism. The balance of these funds at September 30, 2015 was $4.2 million.  Net position invested in capital assets net of related debt for governmental activities increased $28.1 million, primarily due to developer contributed capital and additions to capital assets.  Current year net position for business-type activities increased by $31.9 million, due to the growth in the customer base, developer contributed capital, and capital assets.  During 2015, the City invested $18.1 million towards improving and expansion of utility infrastructure, compared to $21.5 million in 2014. 2015 2014 2015 2014 2015 2014 Revenues: Program Revenues Charges for Service $ 15,723 $ 13,838 $ 111,956 $ 99,721 $ 127,679 $ 113,559 Operating Grants & Contributions 642 286 25 25 667 311 Capital Grants & Contributions 17,701 23,902 9,405 76,096 27,106 99,998 General Revenues Property Taxes 20,650 18,985 - - 20,650 18,985 Sales Taxes 19,166 18,655 - - 19,166 18,655 Other Taxes 2,119 1,939 - - 2,119 1,939 Franchise Taxes 4,925 4,479 - - 4,925 4,479 Interest 201 169 168 98 369 267 Other 83 39 - - 83 39 Total Revenues $ 81,210 $ 82,292 $ 121,554 $ 175,940 $ 202,764 $ 258,232 Expenses: Culture-recreation 11,004 10,438 - - 11,004 10,438 Development 2,318 2,038 - - 2,318 2,038 Fire 11,731 10,378 - - 11,731 10,378 General government 5,435 5,239 - - 5,435 5,239 Interest on long term debt 5,061 5,738 - - 5,061 5,738 Police 13,284 12,863 - - 13,284 12,863 Streets 6,463 9,486 - - 6,463 9,486 Environmental Services 5,701 5,098 - - 5,701 5,098 Electric - - 59,044 60,073 59,044 60,073 Water Services - - 33,361 24,159 33,361 24,159 Airport - - 2,838 3,290 2,838 3,290 Stormwater - - 2,983 2,638 2,983 2,638 Total Expenses $ 60,997 $ 61,278 $ 98,226 $ 90,160 $ 159,223 $ 151,438 Change in net position before transfers 20,213 21,014 23,328 85,780 43,541 106,794 Transfers 4,904 7,616 (4,904)(7,616)- - Change in net position 25,117 28,630 18,424 78,164 43,541 106,794 Net Position - Beginning 245,532 216,902 345,145 266,980 590,677 483,882 Restatement (7,257) - 13,445 - 6,188 - Net Position - Ending $ 263,392 $ 245,532 $ 377,014 $ 345,144 $ 640,406 $ 590,676 Changes in Net Position (In thousands) Govtl Activities Bus-Type Activities Total DRAFT Page 43 of 231 CITY OF GEORGETOWN, TEXAS MD&A 21 REVENUES  Program revenues are derived from the program itself and reduce the cost of the function to the City. Total program revenues for both governmental and business-type activities are described below.  Governmental activities program revenue for the fiscal year ended September 30, 2015 was $34.1 million. The Charges for Services category represents receipts primarily from environmental services, development and building inspection fees, parks fees, fire billing for services and court fines. Charges for services totaled $15.7 million in FY 2015, or 13.6% over prior year revenues. Other governmental program revenues included operating and capital grants and contributions for parks, fire and police programs, and streets. Capital grants and contributions totaled $17.7 million compared to $23.9 million last fiscal year due in part to the addition of Williams Drive and developer contributions.  Business-type activities program revenue totaled $121.4 million, a 30.9% decrease over prior year. Capital grants and contributions were $66.7 million lower than the prior year due primarily to the acquisition of CTSUD. Charges for Services, which represent receipts from utility customers for electric, water, and wastewater, increased $12.2 million. Electric charges for service increased 4.9% due to customer growth. Water charges for services increased 30.8% due to customer growth and the addition of the Western District. Other program revenues include airport fuel sales, hangar rentals and stormwater drainage fees.  General revenues are revenues from taxes levied on behalf of the general government and other revenues used for general government activities not specific to a program or service. These revenues and notable changes are described below.  Property taxes totaled $20.7 million. Included in these taxes are real and personal property levies which are assessed October 1, and payable before the following January 31.  Assessed valuations on existing properties increased 8.11%, while total assessed valuation increased 11.2% compared to the prior year. The variance is attributed to $203 million in new and annexed property. DRAFT Page 44 of 231 CITY OF GEORGETOWN, TEXAS MD&A 22  The ad valorem tax rate for fiscal year 2015 was $0.434 per $100 of assessed valuation. This is a decrease of $0.0055 over the prior year’s rate of $0.4395. The adopted tax rate is a 2.49% above the 2015 effective rate.  Sales taxes, the City’s second largest source of general revenue, totaled $19.2 million for fiscal year 2015, which was an increase of 2.7% compared to the prior year. This increase is primarily driven by the continued economic growth in retail, food, and information sectors. Sales tax revenues represented 40% of the general revenue total in 2015, excluding the return-on-investment transfers from the utility funds.  Hotel/motel taxes totaled $711,060 compared to $628,246 in FY 2014 and are included in other taxes. EXPENSES  Expenses for governmental activities totaled $61 million, versus $61.3 million in FY 2014. Total expenses were relatively flat, $275,000 lower than the prior year. Major expenses include the Environmental Services (sanitation) contract, salaries for providing services in the public safety area, as well as for parks and streets maintenance. Salary increases implemented during the fiscal year included a 1% COLA for public safety effective January 2015, as well as a 2 ½% COLA and merit increases for non-public safety effective February 2015. Other explanations for the increases are noted below.  Culture-recreation increased 5.4% over the prior year due in part to salary adjustments.  Development increased 13.7%, or $280,000. The increase can be attributed to increased personnel and operating costs.  Public Safety increased 7.7% due to the restructured STEP pay plan that was implemented January 2013 and increased operating costs associated with the opening of the new Public Safety Operations and Training Center.  Streets decreased 31.9% due to the timing of scheduled maintenance, including chip seal, of the City’s transportation system.  Environmental services increased 11.8% due to continued customer growth in solid waste. DRAFT Page 45 of 231 CITY OF GEORGETOWN, TEXAS MD&A 23  Expenses for business-type activities totaled $98.2 million, an 8.9% increase over the prior year, which provided electric, water, and wastewater services for customers, as well as airport and stormwater drainage programs. Notable explanations for the changes are explained below.  Electric decreased 1.7%. The decrease in expenses for Electric can be associated with the one- time payment for the LCRA settlement made in FY 2014.  Water services increased 38.1%. The increase can be attributed to a full year of operations of the Western District since acquiring CTSUD.  The 13.7% decrease at the Airport is related to the fluctuations in the price of fuel compared to FY 2014.  Stormwater saw a 13.7% increase over the prior year due to higher personnel and operating costs. FINANCIAL ANALYSIS OF THE CITY’S FUNDS Governmental Funds: The City’s Fund Balance is the accumulated difference between assets and liabilities within governmental funds, and it allows the City to meet its contractual obligations, fund disaster or emergency costs, provide cash flow for timing purposes and fund non-recurring expenses appropriated by City Council. For the fiscal year ended September 30, 2015, the City's governmental funds reflect a combined fund balance of $51.9 million. The General Fund had a fund balance of $12,003,855 for FY 2015, a decrease of approximately $168,800 over FY 2014. According to the Fiscal and Budgetary Policy of the City, the use of excess fund balance is limited to non-recurring one time only expenses. General Capital Project Fund had a fund balance of $19.9 million for FY 2015 compared to $26.2 million for FY 2014. This decrease is due to the Rivery Sheraton Garage reimbursement, various Parks projects and FM1460. Non-major governmental funds include a decrease in fund balance of $752,300 due to the funding and timing of street improvement projects in the Sales Tax Maintenance Fund and start-up costs related to the new EMS program. General Debt Service Fund reflects an increase of $221,000 in fund balance in FY 2015. This increase is due to higher ad valorem taxes collected for interest and sinking and the issuance of refunding bonds. Georgetown Transportation Enhancement Corporation (GTEC), the City’s blended component unit had a 20% decrease in fund balance due to the timing of capital improvement projects. GTEC contributed $6.7 million in transportation improvements to facilitate economic development in 2015. Business-type Activities: The City’s proprietary fund statements provide the same type of information found in government-wide financial statements, but in more detail. Total unrestricted net position as of September 30, 2015 totaled $48.1 million, which included $7.0 million for Electric, $39.7 million for Water and $1.4 million for all other Non-Major funds. The change in net position for FY 2015 was $31.9 million resulting primarily from continued growth in the City’s utility systems and capital improvements. DRAFT Page 46 of 231 CITY OF GEORGETOWN, TEXAS MD&A 24 GENERAL FUND BUDGETARY HIGHLIGHTS The original and final budget of the General Fund changed due to a budget amendment based on Council’s recommendation to spend excess fund balance for cash funding two transitional response vehicles (TRVs) for EMS program and city manager recruitment. The variance between the actual ending fund balance at September 30, 2015 of $9.9 million and the final budgetary fund balance of $7.8 million is attributed to higher than expected franchise tax revenues, higher development related revenues, and environmental services revenues due to growth. Expenditures were less than budgeted primarily due to timing of projects and vacant positions. CAPITAL ASSETS The City's governmental activities (including the internal service funds) had invested $351 million in a variety of capital assets and infrastructure. The City has $390 million invested in its business-type activities capital assets. The detail is reflected in the following schedule: Balance Deletions Balance 9/30/2014 Additions & Transfers 9/30/2015 Non-depreciable Assets: Land $ 21,721 $ 5,627 $ 25 $ 27,373 Construction in progress 45,061 23,921 (36,413) 32,569 Streets 162,086 17,694 (3,912) 175,868 Other capital assets Equipment 37,214 6,629 (1,355) 42,488 Buildings 52,783 25,157 336 78,276 Improvements 33,287 1,622 3,721 38,630 Bridges 10,277 - - 10,277 Less accumulated depreciation (50,224) (5,678) 1,126 (54,776) Capital Assets - Governmental $312,205 $ 74,972 $ (36,472) $ 350,705 Balance Deletions Balance 9/30/2014 Additions & Transfers 9/30/2015 Non-depreciable Assets: Land $ 3,026 $ - $ 640 $ 3,666 Construction in progress 7,659 14,725 (16,085) 6,299 Other capital assets Equipment 2,953 295 2,267 5,515 Buildings 7,599 - - 7,599 Improvements 469,508 7,398 15,009 491,915 Less accumulated depreciation (111,967) (13,114) - (125,081) Capital Assets - Business-Type $378,778 $ 9,304 $ 1,831 $ 389,913 City-wide Totals $690,983 $ 84,276 $ (34,641) $ 740,618 *Includes internal service funds assets, which are allocated to governmental activities Change in Capital Assets (In thousands) Governmental Activities Change in Capital Assets* (In thousands) Business-Type Activities DRAFT Page 47 of 231 CITY OF GEORGETOWN, TEXAS MD&A 25 The City prepared a complete inventory of street infrastructure assets in 2003 and 2004 and assigned a value to the inventory based upon the age of the street and construction indexes. This established a base line for inventory reporting under the modified approach for GASB 34 reporting. The Council adopted a financial policy that establishes an average condition level of 85 to maintain the streets in “good” condition. The Pavement Condition Index (PCI) is a measurement scale for pavement condition, ranging from zero (poor) to 100 for pavement in perfect condition. The PCI for fiscal years 2005-2007 was 91, 2008-2010 was 93, and 2011-2013 was 87.7. During 2014, the City contracted with Kasberg, Patrick and Associates to reassess the condition of the pavement management system. The PCI for 2014-2015 is 87.3. The previous score was 87.7. This decease can be attributed to recently annexed areas with streets needing improvements. This assessment is conducted every three years and will be reevaluated in 2017. The City budgets approximately $1.6 million annually of General Fund revenues for on-going street maintenance projects, along with the staff and maintenance costs of the street department. In addition, the City also budgets for the approximate $2.1 million of funds received in dedicated 1/4 cent sales tax for street maintenance. The maintenance funds are allocated among various projects identified by the analysis to ensure funds are spent where needed to maintain the PCI adopted by Council. Utility infrastructure maintenance is budgeted within the utility funds. For fiscal year 2015, funding for electric and water services infrastructure maintenance was $1.7 million. Major capital assets added in FY 2015 are noted below:  General Capital Projects:  Construction in process projects $23,900,000  FM 1460  Southwest Bypass  Rivery Sheraton Garage  Garey Park  Williams Drive $13,680,000  PSOTC $27,568,000  Splash Pad $ 300,000  FM 1460 (ROW) $ 5,627,000  Utility Infrastructure and Capital Projects:  Electric distribution system expansion and improvements $ 3,829,000  Electric Substations $ 3,429,000  Westside Service Center (land) $ 640,000  Edwards Aquifer Recharge Zone compliance $ 1,831,000  Lift stations & upgrades $ 681,000  North Georgetown Addition $ 685,000 For more detailed notes about the City’s capital assets, please see Note 5 to the financial statements. DRAFT Page 48 of 231 CITY OF GEORGETOWN, TEXAS MD&A 26 OUTSTANDING DEBT  As of September 30, 2015, the City had a total of $139 million in general obligation debt outstanding. This represents a 7.2% increase over prior year. This increase reflects $4.3 million of General Obligation bonds for road projects.  The state limits the legal amount of tax levy available for general obligation debt service to $1.50 per $100 valuation. The City's 2015 debt levy equaled $0.22662 per $100 assessed valuation, or 15.11% of the maximum allowed.  Other long-term debts included are compensated absence payable, net pension obligation, and other post- employment benefits. These experienced an increase over FY 2014 of $1.6 million primarily due to an increase in compensated absence payable and a change in accounting principles implemented as a result of GASB statement No. 68.  In May 2015, the City issued $13.46 million in Combination Tax and Revenue Certificates of Obligation for Summit at Rivery Park project, sidewalks, runway improvements and fuel farm at the Airport, various parks including Williams Drive pool and splash pad, stormwater drainage facilities including Smith Branch remediation, Westside Service Center and purchase of vehicles and equipment. The City also issued $4,345,000 in General Obligation bonds for road projects approved in the 2008 Road Bond authorization. The City also issued $10.92 million Utility System Revenue Bonds for electric transformers and system replacement; water system improvements to include a new elevated storage facility, and wastewater line upgrades.  In June 2015, the City issued $6,360,000 in General Obligation Refunding Bonds with an average interest rate of 2.6%. The City advanced refunded bonds to reduce its total debt service payments over the next 14 years to obtain a net economic gain of approximately $392,000. The City also issued $7,755,000 in Senior Lien Sales Tax Revenue Refunding Bonds with an average interest rate of 3.9%. The City advanced refunded bonds to reduce its total debt service payments over the next 13 years to obtain a net economic gain of approximately $292,000.  A detailed analysis of the City’s long-term debt is located in Note 6 to the financial statements. 2015 2014 2015 2014 2015 2014 General Obligation Bonds $ 122,966 $ 116,201 $ 16,414 $ 13,884 $ 139,380 $ 130,085 Premiums 3,026 2,394 2,027 1,974 5,053 4,368 Sales tax revenue bonds 7,755 8,470 - - 7,755 8,470 Revenue Bonds - - 67,910 61,885 67,910 61,885 Compensated absence payable 4,878 4,204 915 818 5,793 5,022 Net pension obligation 11,375 10,833 2,689 2,561 14,064 13,394 Other Post-Employment Benefits 787 627 - -787 627 Arbitrage rebate payable - - - - - - Total Long Term Debt $ 150,787 $ 142,729 $ 89,955 $81,122 $ 240,742 $ 223,851 City of Georgetown Outstanding Debt and Long-Term (In thousands) Govtl Activities Bus-Type Activities Total DRAFT Page 49 of 231 CITY OF GEORGETOWN, TEXAS MD&A 27 ECONOMIC FACTORS During FY 2015, the City continued to see strong improvements in the local and regional economy. Total sales tax receipts grew to $19.2 million, or by 2.7% over 2014, an increase over pre-economic downtown receipts for the 6th consecutive year. The growth in residential and commercial development continued in FY 2015 with $312.4 million in new permits; while at the same time, unemployment continued to drop from 5.3% in 2014 to 3.7% in 2015. The residential growth in the City’s utility service area, which includes both the city limits and the City’s extra territorial jurisdiction (ETJ), continued its 4-6% growth rate. The adopted FY 2016 budget assumes continued modest growth in new property of approximately $195 million and an adopted tax rate remains unchanged at $0.434 per $100 valuation. Sales tax revenues have seen a slowing of sales tax collections over the past 18 months compared to the hyper growth of FY 2013 and FY 2014. This trends with the state of Texas as a whole. The 2016 budget projects sales tax growth of 2.5%. This modest, but conservative, growth trend is also anticipated in the City’s utility funds. DISCRETELY PRESENTED COMPONENT UNIT The Georgetown Economic Development Corporation (GEDCO) has been included in the reporting entity as a discretely presented component unit since it provides benefits to other entities aside from the City. Separate audited financial statements are not issued for GEDCO. CONTACTING THE CITY’S FINANCIAL MANAGEMENT This report is designed to provide City Council, citizens, customers, bond rating agencies, investors and creditors with a general overview of the City’s finances. If you have questions about this report or need additional financial information, contact: Finance & Administration Division City of Georgetown 113 East 8th Street Georgetown, Texas 78626 (512) 930-3676 www.georgetown.org   DRAFT Page 50 of 231 This page intentionally left blank. DRAFT Page 51 of 231 BASIC FINANCIAL STATEMENTS DRAFT Page 52 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF NET POSITION SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 28 Component Unit Georgetown Economic Governmental Business-type Development Activities Activities Total Corporation ASSETS Cash and cash equivalents 20,249,356$ 9,668,619$ 29,917,975$ 2,186,499$ Cash and cash equivalents - restricted - 2,437,408 2,437,408 - Investments 41,873,140 13,351,901 55,225,041 3,019,452 Investments - restricted - 23,379,125 23,379,125 - Prepaid items 323,557 4,760,696 5,084,253 - Security deposit - 9,500,000 9,500,000 - Accounts receivable Services (net of allowance for uncollectibles) - 15,661,550 15,661,550 - Other 7,065,501 472,532 7,538,033 219,320 Internal balances (936,892) 936,892 - - Inventories 894,298 3,704,604 4,598,902 - Long-term note receivable - 923,248 923,248 - Capital assets Land 27,372,932 3,665,995 31,038,927 448,745 Streets 175,868,215 - 175,868,215 - Building and improvements 127,183,419 7,599,896 134,783,315 - Machinery, furniture and equipment 42,488,461 5,515,140 48,003,601 - Distribution system - 491,914,838 491,914,838 - Water system - - - - Construction in progress 32,568,835 6,298,971 38,867,806 - Accumulated depreciation (54,776,430) (125,081,643) (179,858,073) - Total assets 420,174,392 474,709,772 894,884,164 5,874,016 DEFERRED OUTFLOWS OF RESOURCES Deferred outflow related to pension 3,287,963 777,323 4,065,286 - Deferred charge on refunding 2,544,096 1,439,633 3,983,729 - Total deferred outflows of resources 5,832,059 2,216,956 8,049,015 - TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES 426,006,451$ 476,926,728$ 902,933,179$ 5,874,016$ LIABILITIES AND NET POSITION Liabilities Current liabilities Accounts payable 8,914,786$ 8,345,946$ 17,260,732$ 11,595$ Accrued employee benefits 1,516,613 385,331 1,901,944 - Unearned revenue 1,371,486 86,867 1,458,353 4,000 Unapplied credits 436,848 - 436,848 - Current portion of noncurrent liabilities 8,911,530 6,013,279 14,924,809 60,000 Accrued interest 1,104,108 375,533 1,479,641 - Construction contracts and retainages payable from restricted assets - 112,037 112,037 - Customer deposits payable from restricted assets - 1,036,999 1,036,999 - Noncurrent liabilities Accrued employee benefits 4,148,496 529,281 4,677,777 - Net pension liability 11,375,385 2,689,309 14,064,694 - Long-term debt 124,835,118 80,338,188 205,173,306 863,248 Total liabilities 162,614,370 99,912,770 262,527,140 938,843 NET POSITION Net investment in capital assets 239,377,879 328,886,853 568,264,732 448,745 Restricted for Debt service 534,745 - 534,745 - Specific programs 3,423,343 - 3,423,343 - Unrestricted 20,056,114 48,127,105 68,183,219 4,486,428 Total net position 263,392,081 377,013,958 640,406,039 4,935,173 TOTAL LIABILITIES AND NET POSITION 426,006,451$ 476,926,728$ 902,933,179$ 5,874,016$ Primary Government DRAFT Page 53 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF ACTIVITIES FISCAL YEAR ENDED SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 29 Component Unit Georgetown Economic Charges for Operating Grants Capital Grants Governmental Business-type Development Expenses Services & Contributions & Contributions Activities Activities Total Corporation Primary government Governmental activities Culture-recreation 11,003,525$ 2,506,592$ 338,509$ -$ (8,158,424)$ -$ (8,158,424)$ -$ Development 2,317,907 2,510,092 - 135,286 327,471 - 327,471 - Fire 11,731,142 1,740,719 51,523 - (9,938,900) - (9,938,900) - General government 5,435,195 1,321,261 219,940 - (3,893,994) - (3,893,994) - Police 13,284,900 831,461 32,476 - (12,420,963) - (12,420,963) - Streets 6,463,416 625 - 17,566,386 11,103,595 - 11,103,595 - Environmental services 5,700,681 6,811,773 - - 1,111,092 - 1,111,092 - Interest on long-term debt 5,061,021 - - - (5,061,021) - (5,061,021) - Total governmental activities 60,997,787 15,722,523 642,448 17,701,672 (26,931,144) - (26,931,144) - Business-type activities Electric 59,043,948 63,197,781 - 1,019,620 - 5,173,453 5,173,453 - Water 33,360,468 43,488,320 - 5 ,196,606 - 15,324,458 15,324,458 - Airport 2,838,401 2,631,211 25,056 1,230,868 - 1,048,734 1,048,734 - Stormwater 2,983,286 2,638,945 - 1,958,266 - 1,613,925 1,613,925 - Total business-type activities 98,226,103 111,956,257 25,056 9,405,360 - 23,160,570 23,160,570 - Total primary government 159,223,890$ 127,678,780$ 667,504$ 27,107,032$ (26,931,144) 23,160,570 (3,770,574) - Component unit Georgetown Economic and Development Corporation 657,998$ -$ -$ -$ (657,998) General revenues Property tax 20,650,114 - 20,650,114 - Sales tax 19,165,963 - 19,165,963 1,311,553 Taxes - other 2,118,567 - 2,118,567 - Franchise taxes 4,925,043 - 4,925,043 - Interest on investments 201,492 167,866 369,358 11,134 Other 82,963 - 82,963 102,778 Transfers 4,904,089 (4,904,089) - - Total general revenues and transfers 52,048,231 (4,736,223) 47,312,008 1,425,465 Change in net position 25,117,087 18,424,347 43,541,434 767,467 Net position, beginning of the year 245,531,853 345,144,448 59 0,676,301 4,167,706 Prior period adjustment (7,256,859) 13,445,163 6,188,304 Net position, end of the year 263,392,081$ 377,013,958$ 640,406,039$ 4,935,173$ Net (Expense) Revenue and Program Revenues Changes in Net Position Primary Government Functions/Programs DRAFT Page 54 of 231 FUND FINANCIAL STATEMENTS DRAFT Page 55 of 231 This page intentionally left blank. DRAFT Page 56 of 231 CITY OF GEORGETOWN, TEXAS BALANCE SHEET – GOVERNMENTAL FUNDS SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 30 Georgetown Transportation General Nonmajor Total Enhancement Debt Capital Governmental Governmental General Corporation Service Projects Funds Funds ASSETS Cash and cash equivalents 4,342,979$ -$ -$ 9,644,993$ 3,215,482$ 17,203,454$ Investments 5,997,447 12,310,456 1,489,314 13,319,275 4,550,405 37,666,897 Accounts receivable (net of allowance for uncollectible accounts) Delinquent taxes 219,659 - 149,539 - - 369,198 Sales tax 1,937,884 861,282 - - 538,174 3,337,340 Grants - 143,727 - - 144,667 288,394 Other 1,957,907 - - - 845,240 2,803,147 Due from other funds 664,988 - - - - 664,988 Prepaid items 59,931 - - - - 59,931 Inventories 6,771 - - - - 6,771 Total assets 15,187,566$ 13,315,465$ 1,638,853$ 22,964,268$ 9,293,968$ 62,400,120$ LIABILITIES Accounts payable 2,086,876$ 1,757,148$ -$ 2,893,504$ 663,961$ 7,401,489$ Due to other funds - - - - 1,368,811 1,368,811 Unearned revenue 877,176 - - 195,765 298,545 1,371,486 Total liabilities 2,964,052 1,757,148 - 3,089,269 2,331,317 10,141,786 DEFERRED INFLOWS OF RESOURCES Deferred property taxes 219,659 - 149,539 - - 369,198 Total deferred inflows of resources 219,659 - 149,539 - - 369,198 FUND BALANCE Nonspendable 66,702 - - - - 66,702 Restricted - - 1,489,314 15,336,646 3,423,343 20,249,303 Committed 7,695,000 8,489,829 - - 4,202,843 20,387,672 Assigned 1,835,134 3,068,488 - 4,538,353 - 9,441,975 Unassigned 2,407,019 - - - (663,535) 1,743,484 Total fund balance 12,003,855 11,558,317 1,489,314 19,874,999 6,962,651 51,889,136 TOTAL LIABILITIES, DEFERRED INFLOWS AND FUND BALANCE 15,187,566$ 13,315,465$ 1,638,853$ 22,964,268$ 9,293,968$ 62,400,120$ DRAFT Page 57 of 231 CITY OF GEORGETOWN, TEXAS RECONCILIATION OF THE GOVERNMENTAL FUNDS BALANCE SHEET TO THE STATEMENT OF NET POSITION SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 31 Total fund balance - total governmental funds 51,889,136$ Capital assets, net of accumulated depreciation, used in governmental activities are not currentfinancial resources and therefore are not reported in the governmental funds balance sheet.337,841,429 The City uses internal service funds to charge the costs of certain activities, such as capital assets, administrative services and information technology to the City's other funds. The assets and liabilities of the internal service funds are included in governmental functions in the statement of net position. The effect of this consolidation is to increase net position.19,232,946 Premiums and discounts on issued bonds have not been included in the fund financial statements.(3,025,902) Bonds payable and contractual obligations are not due and payable in the current period therefore have not been included in the fund financial statements. (130,720,746) Deferred charges resulting from the issuance of refunding bonds are not recorded on the fund financial statements but are recorded as deferred outflows of resources on the statement of net position.2,544,096 Accrued liabilities for accrued employee benefits, including compensated absences and other post employment benefit obligations, are not due and payable in the current period, therefore have not been included in the fund financial statements.(5,531,896) Liabilities for arbitrage are notdue and payable in the currentperiod therefore have not been reflected in the fund financial statements.(14,650) Net pension liability and the related deferred outflows of resources,are notdue and payable in the current period, therefore have not been included in the fund financial statements.(8,087,422) Revenues from property taxes are deferred in the fund financial statements until they are considered available to fund current expenditures, but such revenues are recognized in the government-wide statements.369,198 Interest is accrued on outstanding debt in the government-wide financial statements, whereas in the fund financial statements interest expense is reported when due.(1,104,108) Net position of governmental activities 263,392,081$ Amounts reported for governmental activities in the statement of net position are different because: DRAFT Page 58 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE – GOVERNMENTAL FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 32 Georgetown Transportation General Nonmajor Total General Enhancement Debt Capital Governmental Governmental Fund Corporation Service Projects Funds Funds REVENUES Property taxes Current 10,700,252$ -$ 9,800,000$ -$ -$ 20,500,252$ Delinquent 18,845 - 17,979 - - 36,824 Penalties and interest 65,672 - - - - 65,672 Other 325,042 - - - 711,060 1,036,102 Property assessment - - - - 1,082,465 1,082,465 Sales tax 11,296,644 5,246,213 - - 2,623,106 19,165,963 Franchise taxes 4,925,043 - - - - 4,925,043 Licenses and permits 2,002,380 - - - - 2,002,380 Charges for service 10,556,447 - - - 114,852 10,671,299 Fines and forfeitures 529,920 - - - 56,933 586,853 Donations and grants - 658,985 - 235,051 541,243 1,435,279 Investment income 29,899 52,340 4,044 57,610 29,059 172,952 Other revenue 692,873 283,632 - 137,335 992,312 2,106,152 Total revenues 41,143,017 6,241,170 9,822,023 429,996 6,1 51,030 63,787,236 EXPENDITURES Current Culture - recreation 9,156,876 - - - 1,291,660 10,448,536 Development 2,148,991 - - - 173,330 2,322,321 Fire services 10,595,388 - - - 918,538 11,513,926 General government 3,762,714 352,566 - - - 4,115,280 Highways and streets 3,668,360 - - - 2,407,047 6,075,407 Police 12,899,092 - - - 111,405 13,010,497 Environmental services 5,612,691 - - - 90,536 5,703,227 Capital outlay - 6,724,200 - 16,261,933 1,020,120 24,006,253 Debt service Principal retirement - 505,000 7,363,518 - - 7,868,518 Interest and fiscal charges - 492,433 3,958,807 144,091 - 4,595,331 Total expenditures 47,844,112 8,074,199 11,322,325 16,406,024 6,012,636 89,659,296 Excess (deficiency) of revenues over (under) expenditures (6,701,095) (1,833,029) (1,500,302) (15,976,028) 138,394 (25,872,060) Other financing sources (uses) Transfers in 7,720,944 489,915 1,699,395 302,000 760,061 10,972,315 Transfers out (1,188,673) (1 ,699,395) - (4,774,436) (1,650,765) (9,313,269) Premiums on issuance of bonds - 725,374 108,567 168,006 - 1,001,947 Issuance of bonds - - - 13,990,000 - 13,990,000 Payment to refunding escrow agent - (8,327,210) (5,771,235) - - (14,098,445) Refunding bonds issued - 7,755,000 5,684,703 - - 13,439,703 Total other financing sources (uses) 6,532,271 (1,056,316) 1,721,430 9,685,570 (890,704) 15,992,251 Net change in fund balances (168,824) (2,889,345) 221,128 (6,290,458) (752,310) (9,879,809) FUND BALANCES, beginning of year 12,172,679 14,447,662 1,268,186 26,165,457 7,714,961 61,768,945 FUND BALANCES, end of year 12,003,855$ 11,558,317$ 1,489,314$ 19,874,999$ 6,962,651$ 51,889,136$ DRAFT Page 59 of 231 CITY OF GEORGETOWN, TEXAS RECONCILIATION OF THE GOVERNMENTAL FUNDS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE TO THE STATEMENT OF ACTIVITIES – GOVERNMENTAL FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 33 (9,879,809)$ The City uses internal service funds to charge the costs of certain activities, such as fleet management and information technology to appropriate functions in other funds. The assets and liabilities of internal service funds are allocated to the governmental activities on the statementof netposition. The effect ofthis consolidation is to increase netposition. The entry on the statement of activities reflects the change for FY 2015, which is allocated to governmental activities.4,294,705 Current year capital outlays are expenditures in the fund statements, but are shown as increases in capital assets in the government-wide financial statements. The effect of removing the 2015 capital outlays is to increase net position.24,006,253 Depreciation is not recognized as an expenditure in governmental funds since it does not require the use of current financial resources. The effect of recording current year depreciation is to decrease net assets.(2,858,513) Capital assets contributed or donated to the City are not recorded in the governmental funds as they do not provide current financial resources but are recognized in the Statement of Activities as program revenues.16,693,894 Some revenues and expenses reported in the statementof activities do notrequire the use of current financial resources and therefore are not reported as either expenditures or revenues in governmental funds: Current year increase in bond premiums (631,928) Current year increase in deferred charge on refunding 282,069 Current year long-term debt principal payments on contractual obligation bonds payable are expenditures in the fund financial statements,butare shown as reductions in long term debt in the government-wide financial statements.7,363,518 Current year bond proceeds are not shown as revenue in the government-wide financial statements.(27,429,703) Repayment of bond principal and the payment to escrow in conjunction with the advance refunding of debt are reported as expenditures in the fund financial statements, whereas the government-wide financial statements do not record the expenditures,rather itreflects a reduction to liabilities in the statement of net position. 14,016,041 Interest is accrued on outstanding debt in the government-wide financial statements, whereas in the fund financial statements, the expenditure is reported when due.(530,374) Additions to vested sick leave and vacation liabilities are not shown in the fund financial statements. The net effect of the current year's increase is to decrease net assets.(541,279) Expenditures related to the City's participation in the Texas Municipal Retirement System are recorded as they are paid in the governmental funds, butare recognized based on the change in net pension liability in the Statement of Activities.444,517 Annual required contribution for other postemploymentbenefits and net pension obligation are recorded in the government-wide financial statements net of the expense recognized on current year actual contribution.(159,670) Revenue from property taxes are recognized in the fund financial statements on the modified accrual basis but are recognized on the accrual basis in the government-wide financial statements.47,366 Change in net position of governmental activities 25,117,087$ Net change in fund balances - governmental funds Amounts reported for governmental activities in the statement of activities are different DRAFT Page 60 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE BUDGET AND ACTUAL – GENERAL FUND FISCAL YEAR ENDED SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 34 2015 Actual Variance to Budgetary Final Original Final Basis Budget REVENUES Property taxes Current 10,964,039$ 10,964,039$ 10,700,252$ (263,787)$ Delinquent 70,000 70,000 18,845 (51,155) Penalties and interest 75,000 75,000 65,672 (9,328) Sales tax 11,785,875 11,785,875 11,296,644 (489,231) Franchise taxes 4,560,827 4,560,827 4,925,043 364,216 Licenses and permits 1,566,050 1,566,050 2,010,379 444,329 Charges for services 10,107,797 10,180,557 10,547,822 367,265 Fines and forfeitures 707,500 707,500 529,920 (177,580) Other taxes 310,000 310,000 325,042 15,042 Investment income 25,000 25,000 29,899 4,899 Miscellaneous 483,875 483,875 693,490 209,615 Total revenues 40,655,963 40,728,723 41,143,008 414,285 EXPENDITURES Current Culture - recreation 9,442,653 9,347,794 9,111,404 236,390 Development 1,827,356 1,796,057 1,790,554 5,503 Environmental services 5,466,543 5,590,852 5,590,844 8 Fire services 10,759,602 10,759,602 10,582,129 177,473 General government 3,386,567 3,476,961 3,644,442 (167,481) Highways and streets 4,663,108 4,811,858 4,106,997 704,861 Police services 13,667,941 13,840,722 13,340,939 499,783 Total expenditures 49,213,770 49,623,846 48,167,309 1,456,537 Excess (deficiencies) of revenues over expenditures (8,557,807) (8,895,123) (7,024,301) 1,870,822 OTHER FINANCING SOURCES (USES) Transfers in 6,922,775 6,925,516 7,720,944 (795,428) Transfers out (523,998) (1,188,673) (1,188,673) - Total other financing sources (uses) 6,398,777 5,736,843 6,532,271 795,428 EXCESS (DEFICIENCY) OF REVENUES AND OTHER FINANCING SOURCES OVER EXPENDITURES AND OTHER FINANCING SOURCES (USES)(2,159,030) (3,158,280) (492,030) 2,666,250 FUND BALANCES, beginning of period 9,940,212 10,939,462 10,416,804 (522,658) FUND BALANCES, end of period 7,781,182$ 7,781,182$ 9,924,774 2,143,592$ Reverse current year encumbrances 1,835,138 Record net unrealized gain on investments (82) Reverse voided purchase orders 244,025 FUND BALANCE - GAAP BASIS, end of period 12,003,855$ Budgeted Amounts DRAFT Page 61 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF NET POSITION PROPRIETARY FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 35 Governmental Activities ASSETS Current assets Cash and cash equivalents -$ 9,413,450$ 255,169$ 9,668,619$ 3,045,902$ Cash and cash equivalents - restricted 1,626,370 447,183 363,855 2,437,408 - Investments - 12,999,525 352,376 13,351,901 4,206,243 Investments - restricted 2,245,940 19,205,120 1,928,065 23,379,125 - Secutity deposit 9,500,000 - - 9,500,000 - Prepaid expenses 1,806,881 2,953,815 - 4,760,696 263,626 Accounts receivable Services (net of allowance for uncollectibles) 9,120,751 6,083,313 457,486 15,661,550 267,422 Other 279,366 193,166 - 472,532 - Due from other funds - 9,025,972 - 9,025,972 - Inventories 3,529,730 149,305 25,569 3,704,604 887,527 Total current assets 28,109,038 60,470,849 3,382,520 91,962,407 8,670,720 Noncurrent assets Long-term note receivables - 923,248 - 923,248 - Capital assets Land and land rights 1,579,511 1,104,984 981,500 3,665,995 214,066 Distribution and water systems 143,977,180 304,218,490 43,719,168 491,914,838 - Buildings and improvements 73,707 3,669,971 3,856,218 7,599,896 1,858,517 Machinery, furniture and equipment 2,200,595 888,403 2,426,142 5 ,515,140 32,353,201 Construction in progress 470,131 4,998,777 830,063 6,298,971 - Less accumulated depreciation (39,405,692) (70,600,751) (15,075,200) (125,081,643) (21,561,781) Total capital assets (net of accumulated depreciation)108,895,432 244,279,874 36,737,891 389,913,197 12,864,003 Total noncurrent assets 108,895,432 245,203,122 36,737,891 390,836,445 12,864,003 TOTAL ASSETS 137,004,470 305,673,971 40,120,411 482,798,852 21,534,723 DEFERRED OUTFLOWS OF RESOURCES Deferred outflow related to pension 425,395 295,202 56,726 777,323 - Deferred charge on refunding 787,414 554,318 97,901 1,439,633 - TOTAL DEFERRED OUTFLOWS OF RESOURCES 1,212,809 849,520 154,627 2,216,956 - TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES 138,217,279$ 306,523,491$ 40,275,038$ 485,015,808$ 21,534,723$ Internal Service Funds Water Services Fund Electric Fund Total Nonmajor Enterprise Funds DRAFT Page 62 of 231 36 Governmental Nonmajor Activities LIABILITIES AND NET POSITION Current liabilities Accounts payable 6,495,308$ 1,655,782$ 194,856$ 8,345,946$ 1,498,647$ Accrued employee benefits 212,937 141,239 31,155 385,331 57,905 Due to other funds 7,974,297 - 114,783 8,089,080 233,069 Unearned revenue 20,321 66,546 - 86,867 436,848 Current portion of long-term debt 2,492,855 3,002,153 518,271 6,013,279 - Accrued interest 132,806 214,357 28,370 375,533 - Construction contracts and retainages payable 20,186 91,851 - 112,037 - Customer deposits 1,036,999 - - 1,036,999 - Total current liabilities 18,385,709 5,171,928 887,435 24,445,072 2,226,469 Noncurrent liabilities Accrued employee benefits 291,041 194,815 43,425 529,281 75,308 Net pension liability 1,471,742 1,021,313 196,254 2,689,309 - Long-term debt 28,804,541 45,667,658 5,865,989 80,338,188 - Total noncurrent liabilities 30,567,324 46,883,786 6,105,668 83,556,778 75,308 TOTAL LIABILITIES 48,953,033 52,055,714 6,993,103 108,001,850 2,301,777 Net position Net investment in capital assets 82,257,760 214,751,962 31,877,131 328,886,853 12,864,003 Unrestricted 7,006,486 39,715,815 1,404,804 48,127,105 6,368,943 Total net position 89,264,246 254,467,777 33,281,935 377,013,958 19,232,946 TOTAL LIABILITIES AND NET POSITION 138,217,279$ 306,523,491$ 40,275,038$ 485,015,808$ 21,534,723$ Electric Fund Water Services Fund Enterprise Funds Total Internal Service Funds DRAFT Page 63 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF REVENUES, EXPENSES, AND CHANGES IN FUND NET POSITION PROPRIETARY FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 37 Governmental Activities OPERATING REVENUES Service charges Electric 60,870,094$ -$ -$ 60,870,094$ -$ Water - 17,107,086 - 17,107,086 - Wastewater - 15,535,837 - 15,535,837 - Other 1,144,894 3,599,429 5,242,994 9,987,317 26,964,669 Total operating revenues 62,014,988 36,242,352 5,242,994 103,500,334 26,964,669 OPERATING EXPENSES Electric 8,259,062 - - 8,259,062 - Water - 11,885,339 - 11,885,339 - Depreciation 3,860,476 8,075,981 1,177,769 13,114,226 2,819,823 Utility contracts 45,937,180 9,482,053 - 55,419,233 - Plant management - 2,446,675 - 2,446,675 - Other - - 4,458,799 4,458,799 23,777,473 Total operating expenses 58,056,718 31,890,048 5,636,568 95,583,334 26,597,296 NET OPERATING INCOME (LOSS)3,958,270 4,352,304 (393,574) 7,917,000 367,373 NONOPERATING REVENUES (EXPENSES) Investment income 19,435 145,486 2,945 167,866 28,540 Donations and grants - - 1,255,924 1,255,924 - Interest and fiscal charges (987,230) (1,470,420) (185,119) (2,642,769) - Loss on disposed assets - - - - (56,148) Other 1,182,793 7,245,968 27,162 8,455,923 489,957 Total nonoperating revenues (expenses) 214,998 5,921,034 1,100,912 7,236,944 462,349 INCOME BEFORE CONTRIBUTIONS AND TRANSFERS 4,173,268 10,273,338 707,338 15,153,944 829,722 CONTRIBUTIONS AND TRANSFERS Capital contributions 1,019,620 5,196,606 1,958,266 8,174,492 219,940 Transfers in 2,287,936 3,635,544 - 5,923,480 3,515,365 Transfers out (5,018,881) (5,555,212) (253,476) (10,827,569) (270,322) Total contributions and transfers (1,711,325) 3,276,938 1,704,790 3,270,403 3,464,983 Change in net position 2,461,943 13,550,276 2,412,128 18,424,347 4,294,705 NET POSITION, beginning of period 72,443,921 241,683,522 31,017,005 345,144,448 14,938,241 RESTATEMENT 14,358,382 (766,021) (147,198) 13,445,163 - TOTAL NET POSITION, end of period 89,264,246$ 254,467,777$ 33,281,935$ 377,013,958$ 19,232,946$ Electric Fund Water Services Fund Total Internal Service Funds Nonmajor Enterprise Funds DRAFT Page 64 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF CASH FLOWS PROPRIETARY FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 38 Governmental Water Nonmajor Activities Electric Services Enterprise Internal Fund Fund Funds Total Service Funds CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers 63,034,814$ 43,250,768$ 5,469,880$ 111,755,462$ 28,144,498$ Payments to suppliers (40,235,545) (29,417,692) (3,914,977) (73,568,214) (14,026,831) Payments to employees for services (4,596,868) (3,313,514) (764,263) (8,674,645) (10,282,652) Net cash provided by operating activities 18,202,401 10,519,562 790,640 29,512,603 3,835,015 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in 2,287,936 3,635,544 - 5,923,480 3,515,365 Transfers out (5,018,881) (5,555,212) (253,476) (10,827,569) (270,322) Net cash provided by (used for) noncapital financing activities (2,730,945) (1,919,668) (253,476) (4,904,089) 3,245,043 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets (8,605,170) (5,575,483) (2,387,902) (16,568,555) (3,314,808) Donations and grants - - - - - Security deposit (9,500,000) - - (9,500,000) - Proceeds from issuance of long-term debt 2,447,844 9,217,156 459,000 12,124,000 - Principal paid on revenue and certificates of obligation bonds (2,497,668) (3,251,222) 2,238,044 (3,510,846) - Interest paid on revenue and certificates of obligation bonds (1,255,927) (1,467,532) (187,874) (2,911,333) - Net cash provided by (used for) capital and related financing activities (19,410,921) (1,077,081) 121,268 (20,366,734) (3,314,808) CASH FLOWS FROM INVESTING ACTIVITIES Interest received 19,435 145,486 2,945 1 6 7,866 28,540 Change in temporary investments 1,182,698 (14,036,873) (545,129) (13,399,304) (2,684,566) Net cash provided by (used for) investing activities 1,202,133 (13,891,387) (542,184) (13,231,438) (2,656,026) Net increase (decrease) in cash and cash equivalents (2,737,332) (6,368,574) 116,248 (8,989,658) 1,109,224 CASH AND CASH EQUIVALENTS, beginning of year 4,363,702 16,229,207 502,776 21,095,685 1,936,678 CASH AND CASH EQUIVALENTS, end of year 1,626,370$ 9,860,633$ 619,024$ 12,106,027$ 3,045,902$ CLASSIFIED AS Current assets -$ 9,413,450$ 255,169$ 9,668,619$ 3,045,902$ Restricted assets 1,626,370 447,183 363,855 2,437,408 - Total 1,626,370$ 9,860,633$ 619,024$ 12,106,027$ 3,045,902$ NON-CASH DISCLOSURE Developer contributions 1,019,620$ 5,196,606$ 1,958,266$ 8,174,492$ 219,940$ OPERATING INCOME (LOSS)3,958,270$ 4,352,304$ (393,574)$ 7,917,000$ 367,373$ Adjustments to reconcile operating income (loss) to cash provided by operating activities Depreciation 3,860,476 8,075,981 1,177,769 13,114,226 2,819,823 Other income 1,182,793 7,245,968 27,162 8,455,923 489,957 Decrease (increase) in other assets - 12,747 - 12,747 - Decrease (increase) in prepaid expenses (827,770) (197,283) - (1,025,053) - Decrease (increase) in inventories (424,319) - (9,169) (4 33,488) (581,285) Decrease (increase) in accounts receivable (373,940) (304,098) 73,839 (604,199) 487,022 Decrease (increase) in customer deposits 190,652 - - 190,652 - Increase (decrease) in due to/from other funds 8,051,987 (8,872,281) 70,531 (749,763) - Increase (decrease) in accounts payable 2,147,716 (158,126) (210,274) 1,779,316 33,580 Increase (decrease) in unearned revenue 20,321 66,546 - 86,867 202,850 Increase (decrease) in net pension liability 508,045 255,292 49,056 812,393 - Increase (decrease) in accrued employee benefits (91,830) 42,512 5,300 (44,018) 15,695 Net cash provided by operating activities 18,202,401$ 10,519,562$ 790,640$ 29,512,603$ 3,835,015$ DRAFT Page 65 of 231 CITY OF GEORGETOWN, TEXAS STATEMENT OF FIDUCIARY NET POSITION AGENCY FUNDS SEPTEMBER 30, 2015 The Notes to Financial Statements are an integral part of this statement. 39 ASSETS Cash and cash equivalents 38,679$ Accounts receivable 118,454 TOTAL ASSETS 157,133$ LIABILITIES Accounts payable 38,679$ Due to other governments 118,454 TOTAL LIABILITIES 157,133$ DRAFT Page 66 of 231 Notes Section DRAFT Page 67 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 40 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies of the City of Georgetown, Texas, (the City), included in the accompanying basic financial statements conform to the generally accepted accounting principles (GAAP) applicable to state and local governments. The Governmental Accounting Standards Board (GASB) is the accepted standard- setting body for establishing governmental accounting and financial reporting principles. The following notes to the financial statements are an integral part of the City's Comprehensive Annual Financial Report. A. Reporting Entity The City of Georgetown was incorporated under the laws of the State of Texas in 1848 and operates under a Council-Manager form of government. The City’s financial statements include the accounts of all City operations. Generally accepted accounting principles require all funds that are controlled by or are dependent on the City Council to be included in the City’s financial statements. The reporting entity is the primary government, or the City, and those component units for which the primary government is financially accountable. Financial accountability is defined as the appointment of a voting majority of the potential component unit‘s board and either the ability to impose its will by the primary government or the possibility that the component unit will provide a financial benefit or impose a financial burden on the primary government. Blended component units, although legally separate entities are, in substance, part of the government’s operations and so data from these units are combined with the data of the primary government. Based upon these considerations, the City’s financial statements include the Georgetown Transportation Enhancement Corporation (GTEC) as a blended component unit. Discretely presented component units, on the other hand, are reported in a separate column in the government-wide financial statements to emphasize they are legally separate from the primary government, and whose exclusion would cause the reporting entity’s financial statements to be misleading or incomplete. Based upon these considerations, the City’s financial statements include the Georgetown Economic Development Corporation (GEDCO) as a discretely presented component unit. Blended Component Unit GTEC, the City’s 4B economic development corporation, is a legally separate entity from the City that was created in May 2001 by voters approving an additional sales tax. GTEC is governed by a seven member board appointed by City Council, of which, four are Council members. The City Council maintains budgetary control over the corporation. The City Manager serves as the General Manager of the corporation and the City’s Chief Financial Officer acts as the Financial Manager. For financial reporting purposes, GTEC is presented as a blended component unit within City operations because its sole purpose is to utilize sales tax revenues for the improvement of the City’s transportation system. The revenues and expenditures for GTEC are accounted for in a general capital projects fund. The City issues debt on behalf of GTEC in exchange for pledged sales tax revenue that is transferred to the City to reimburse for debt service related to the bonds. GTEC’s debt is shown in the Governmental Activities in the Statement of Net Position. Discretely Presented Component Unit GEDCO has been included in the reporting entity as a discretely presented component unit. GEDCO cannot be considered a blended component unit because the revenues are not only for the benefit of the City. GEDCO was created by the City in May 2005, under the Texas Development Act of 1979 for the purpose of promoting, assisting, and enhancing economic and development activities on behalf of the City. It is funded through voter authorized sales tax. The five member Board, which includes three City Council members, is appointed by and serves at the discretion of the City Council. City Council approval is required for annual budgets and bonded debt issuance, therefore the City can impose its will on GEDCO. In the event of dissolution, net assets of GEDCO shall be converted to the City. Accordingly, the City accounts for GEDCO as a discretely presented component unit on the government-wide financial statements. GEDCO is audited as part of the City of Georgetown; however, separately issued unaudited financial statements are available through the City of Georgetown’s Finance Department. DRAFT Page 68 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 41 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED A. Reporting Entity – Continued Related Organizations The Mayor and City Council are responsible for appointing a voting majority of the members of some local boards and commissions, but the City's accountability for these organizations does not extend beyond making the appointments. These entities are the Georgetown Industrial Development Corporation, Georgetown Hospital Authority, Georgetown Housing Authority, and Georgetown Higher Education Finance Corporation. B. Basis of Presentation Basic Financial Statements The basic financial statements include both government-wide financial statements (based on the City as a whole) and fund financial statements. Both sets of financial statements classify activities as either governmental, which are supported by taxes and intergovernmental revenues, or business-type activities, which rely on fees and charges for support. Government-wide Financial Statements The government-wide Statement of Activities demonstrates the degree to which the direct expenses of a given program or function is offset by the program’s revenues. Direct expenses are those that are clearly identifiable with a specific program. Program revenues include 1) charges to customers or applicants who purchase, use, or directly benefit from goods, services, or privileges provided by a given program and 2) grants and contributions that are restricted to meeting the operational or capital requirements of a particular program. Taxes and other items not properly included among program revenues are reported instead as general revenues. The effect of interfund activity within the governmental and business-type activities columns has been removed from these statements. Fund Financial Statements The City segregates transactions related to certain functions or activities in separate funds in order to aid financial management and to demonstrate legal compliance. Each fund is considered a separate accounting entity and the operations of each fund are accounted for using a separate set of self-balancing accounts that comprise its assets, liabilities, fund equity, revenues, and expenditures or expenses, as appropriate. Governmental resources are allocated to and accounted for in individual funds based upon the purposes for which they are to be spent and the means by which spending activities are controlled. Separate statements are presented for governmental funds, proprietary funds, and fiduciary funds, even though the latter are excluded from the government-wide financial statements. These statements present each major fund as a separate column on the fund financial statements; all non-major funds are aggregated and presented in a single column. The government-wide focus is on the sustainability of the City as an entity and the change in net financial position resulting from the activities of the fiscal period. The focus of the fund financial statements is on the major individual funds of the governmental and business-type categories. Each presentation provides a different focus, which allows the reader to compare and analyze the information to enhance the usefulness of the statements. Governmental Fund Types Governmental Funds are those funds through which most governmental functions typically are financed. The measurement focus of governmental funds (in the fund financial statements) is on the sources, uses, and balance of current financial resources and include the General Fund, Special Revenue Funds, Debt Service Fund and Capital Projects Fund. The individual funds are described as follows: DRAFT Page 69 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 42 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED B. Basis of Presentation – Continued Major Governmental Funds General Fund - The General Fund is the general operating fund of the City. It is used to account for all financial resources except those required to be accounted for in another fund. Georgetown Transportation Enhancement Corporation – This capital projects fund is used to account for the City’s 4B Corporation activities, created to administer the voter approved ½ cent sales tax for transportation improvements that aid in economic development efforts. Debt Service Fund - The Debt Service Fund is used to account for the accumulation of resources for, and the payment of, general long-term debt principal, interest, and related costs. General Capital Projects Fund – This capital projects fund is used to account for financial resources to be used for the acquisition or construction of parks, buildings, and other facilities. Such resources are derived from proceeds of general obligation bonds or other sources of revenue specifically set aside for capital projects. Non-major Governmental Funds Special Revenue Funds - The Special Revenue Funds are used to account for the proceeds of specific revenue sources (other than expendable trusts or major capital projects) that are restricted to expenditures for specified purposes. Proprietary Fund Types The Proprietary Fund Types are used to account for the City's organization and activities which are similar to those often found in the private sector. These funds are financed and operated in a manner similar to private business enterprises – where the intent of the City is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered mainly through user charges; or where the governing body has decided that periodic determination of revenues earned, expenses incurred and/or net income is appropriate for capital maintenance, public policy, management control, accountability or other purposes. Major Proprietary Funds Electric Fund – This fund accounts for the City’s electric utility, including operations, maintenance of the infrastructure and expansion of the system within the City’s service territory. Major Proprietary Funds - Continued Water Services Fund – This fund accounts for the City’s water, sewer and water reuse systems, including operations, contracted maintenance, internal maintenance, expansion of the system within the City’s service territory and the costs of environmental mandates that arise. Non-major Proprietary Funds Enterprise Funds - The funds that are operated as enterprise funds within the City but are not considered major funds are the Stormwater Drainage and Airport Funds. DRAFT Page 70 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 43 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED B. Basis of Presentation – Continued Internal Service Funds - The Internal Service Funds, which provide services primarily to other funds of the government, are presented in the summary form as part of the proprietary fund financial statements. The financial statements of the internal service funds are allocated in the governmental column when presented at the government-wide level. Various operations are accounted for as internal service funds, such as operational costs associated with automobile and heavy equipment owned by the City and made available to various departments, costs related to maintaining and repairing City owned facilities, operational costs associated with the City's computer equipment within various departments, as well as jointly shared administrative departments. Proprietary funds distinguish operating revenues and expenses from non-operating items. Operating revenues and expenses generally result from providing services and producing and delivering goods in connection with the proprietary funds principal on-going operations. Operating expenses for the proprietary funds include the cost of personnel and contractual services, supplies and depreciation on capital assets. All revenues and expenses not meeting this definition are reported as non-operating revenues and expenses. Fiduciary Fund Type – Agency Funds The City’s fiduciary fund is presented in the fund financial statements by type. Since by definition, these assets are being held for the benefit of a third party and cannot be used to address activities or obligations of the government, these funds are not incorporated in the government-wide statements. The City’s fiduciary fund accounts for the operations of Cimarron Hills Public Improvement District in which taxes are received from the taxable value in Cimarron Hills and subsequently disbursed to the developer. It also accounts for the Texas Capital Fund Program whereby lease payments on certain property are received by the City and subsequently disbursed to the State of Texas. C. Measurement Focus/Basis of Accounting The accounting and financial reporting treatment applied to a fund is determined by its measurement focus. Measurement focus refers to what is being measured and basis of accounting refers to timing of revenue and expenditure recognition in the financial statements. The government-wide statements and fund financial statements for proprietary funds are reported using the economic resources measurement focus and the accrual basis of accounting. The agency fund also uses the accrual basis of accounting. The economic resources measurement focus means all assets and liabilities (whether current or non-current) are included on the statement of net position and the operating statements present increases (revenues) and decreases (expenses) in net total position. Under the accrual basis of accounting, revenues are recognized when earned, including unbilled utility services which are accrued. Expenses are recognized at the time the liability is incurred. Governmental fund financial statements are reported using the current financial resources measurement focus and are accounted for using the modified accrual basis of accounting. With this measurement focus, only current assets and current liabilities generally are included on the balance sheet. Operating statements of these funds present increases (i.e., revenues and other financing sources) and decreases (i.e., expenditures and other financing uses) in net current assets. Under the modified accrual basis of accounting, revenues are recorded when susceptible to accrual, i.e., both measurable and available. Available means collectible within the current period or soon enough thereafter to be used to pay liabilities of the current period. The City considers all revenues available if they are collected within sixty (60) days after year-end. Expenditures are recognized when the related fund liability is incurred, if measurable, except for principal and interest on general long-term debt, which are recorded when due, and compensated absences, which are recorded when payable from current available financial resources. DRAFT Page 71 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 44 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED Ad valorem, sales, hotel, and franchise tax revenues recorded in the Governmental Fund Types are recognized under the susceptible to accrual concept. Licenses and permits, charges for services, fines and forfeitures, and miscellaneous revenues (except earnings on investments) are recorded as revenues when received in cash because they are generally not measurable until actually received. Investment earnings are recorded as earned since they are measurable and available. D. Budgets At least 30 days prior to the end of each fiscal year, the City Manager submits a proposed budget presenting a complete financial plan for the ensuing fiscal year to the City Council (the Council). Public hearings are conducted, at which time all interested persons' comments concerning the budget are heard. The budget must be legally adopted by the Council through passage of an ordinance no later than the twenty-seventh day of the last month of the fiscal year. Formal budgetary integration is employed as a management control device during the year for all Governmental and Proprietary Fund Types. Budgets for all funds were legally adopted for the period. Budgetary control is exercised at the division level. All budgets are prepared on the budgetary basis, recognizing encumbrances outstanding at year-end as expenditures against that year’s appropriation. These encumbrances are reconciled to generally accepted accounting principles where appropriate. The Council may transfer any unencumbered appropriation balance or portion thereof from one division, office, department, or agency to another at any time. The City Manager has authority, without Council approval, to transfer appropriation balances from one expenditure account to another within a single division, office, department, or agency of the City; however, unbudgeted transfers between funds are prohibited. The Council may authorize by a majority plus one vote, an emergency expenditure as an amendment to the original budget, but only in a case of grave public necessity, to meet an unusual and unforeseen condition that could not have been included in the original budget through the use of reasonable, diligent thought and attention. Budget amounts are as originally adopted, or as transferred pursuant to authorization of the City Manager or amended by the City Council. Individual amendments were not material in relation to the original appropriations, with the exception of amendments related to capital projects and grant expenditures, whose actual costs were unknown when the budget was adopted. Unencumbered appropriations lapse each year at September 30. The Statement of Revenues, Expenditures, and Changes in Fund Balances – Budget and Actual-General Fund presents a comparison of budgetary data to actual results. The General Fund utilizes the same basis of accounting for both budgetary purposes and actual results, except for the effect of encumbrances and unrealized investment gains and losses, which are reconciled to the actual results for this comparison. E. Encumbrances Encumbrance accounting is employed as an extension of formal budgetary control in all governmental and proprietary funds. Encumbrance accounting is a process whereby purchase orders, contracts and other commitments for the expending of monies are recorded in order to reserve that portion of the applicable appropriation. Outstanding year-end encumbrances are classified as restricted, committed, or assigned components of fund balance, as applicable, and do not constitute expenditures or liabilities because the commitments are carried forward into the subsequent fiscal year. DRAFT Page 72 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 45 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED F. Cash and Investments For cash flow purposes, cash and cash equivalents consist of demand deposits, certificates of deposits and deposits in authorized investment pools. The operating cash balances from all funds are consolidated in pooled cash and investment accounts. Excess pooled balances are invested in U.S. Treasury securities, U.S. Government agency securities, fully collateralized money market funds and local government investment pools. Maturities on all investments are consistent with the City’s cash flow requirements. Investments are stated at fair value, or market price as of September 30, 2015. Interest earnings are then allocated to each fund based on average monthly pooled equity balances. Separate cash and investment accounts are maintained for restricted cash such as debt service and bond proceeds reserved for future construction. G. Restricted Assets Certain cash and investments are restricted by various legal and contractual obligations. Included in the restricted assets are capital recovery fees (impact fees) restricted by law for future capital improvements and customer deposits. H. Inventories and Prepaid Items Inventories consist of electric materials, jet fuel, office and other supplies valued at the weighted average cost method and are recognized as expenditures or expenses when used. The prepaid items consist of required payments made to a vendor for a contract in the following fiscal year. These items are accounted for using the consumption method. I. Interfund Receivables and Payables Short-term advances between funds are accounted for in the appropriate interfund receivable and payable accounts. Negative balances incurred in pooled cash at year-end are treated as interfund receivables of the Water Services Fund and interfund payables of the deficit fund. J. Interfund Transactions All legally authorized transfers have been appropriately presented as interfund transfers and are included in the fund financial statements of both Governmental and Proprietary Fund types. As a general rule, the effect of interfund activity has been eliminated from the government-wide financial statements. K. Intergovernmental Revenues Intergovernmental revenues represent entitlements and shared revenues which are accounted for within the fund financed. Such revenues, received for purposes normally financed through the general government, are accounted for within the Special Revenue Funds. L. Accrued Employee Benefits All employees, with the exception of firefighters, may accumulate a maximum of two times their annual vacation, up to a cap of 240 hours, or 30 days paid upon separation. Firefighters may accrue up to a maximum cap of 360 hours that can be paid out upon separation. Upon termination, non-Civil Service employees will not receive payment of sick leave, unless they have a balance that originated prior to October 1, 2004. These employees were grandfathered under the old policy of receiving payment for one- half of their balance of sick leave up to 60 days at the rate of pay when the hours were banked. Upon termination, Civil Service employees are paid for the balance of their Civil Service sick leave earned after July 30, 2003 or October 31, 2005 (the effective date of the regulations in the City for fire civil service and police civil service employees, respectively), up to a maximum of 720 hours or 1,080 hours for those Firefighters on a 56 hour a week schedule on an annual basis. Civil Service employees hired prior to the effective date of the adoption of Civil Service regulations are also eligible under city policy to receive payment for one-half of their sick leave up to 60 days at the rate of pay when the hours were banked. DRAFT Page 73 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 46 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED L. Accrued Employee Benefits – Continued Accumulated vacation and sick leave, which is expected to be liquidated with expendable available financial resources, is reported as expenditure and a fund liability of the governmental fund that will pay it. Amounts of accumulated vacation leave within governmental funds that are not expected to be liquidated with expendable available financial resources are reported as a long-term liability on the statement of net position. No expenditure is reported for these amounts in the fund financial statements unless the benefits have matured, i.e. unused reimbursable leave still outstanding following an employee’s resignation or retirement. Accumulated vacation and sick leave of proprietary fund types are recorded as an expense and liability of those funds as the benefits accrue to employees M. Capital Assets Capital Assets other than Streets and Drainage Capital assets, which include property, plant, equipment, and infrastructure assets, are reported in the applicable governmental or business-type activities column in the government-wide financial statements and in the fund financial statements for proprietary funds. All capital assets are valued at their historical cost or estimated historical cost if actual historical cost is not available. Donated assets are valued at their fair value on the date donated. Repairs and maintenance are recorded as expenses. Renewals and betterments are capitalized. Assets capitalized, not including infrastructure assets, have an original cost of $5,000 or more and an expected useful life of over one year. Interest incurred during the construction phase of capital assets of business-type activities is capitalized. Interest of $514,021 was capitalized in enterprise funds during the 2015 fiscal year. Depreciation for assets not following the modified approach is computed using the straight-line method on the composite assets based upon the estimated useful lives as follows: Distribution systems 25-50 years Buildings and improvements 10-20 years Furniture, fixtures, and equipment 3-10 years The City records capital contributions to proprietary funds as revenue. Total capital contributions to the enterprise funds in fiscal year 2015 were $8,174,492 and $219,940 in the internal service funds. Contributed capital is not recorded for governmental type funds, but is recognized on the government-wide statements and totaled $16,696,113 for the year ended September 30, 2015. Capital Assets - Streets and Drainage Governmental Accounting Standards Board Statement No. 34 provides for an alternative approach to depreciation for measuring the value of infrastructure assets and the related costs incurred to maintain their service life at a locally established minimum standard. In order to adopt this alternative method, the City must use an asset management system, and must determine if the minimum standards are being maintained. This measurement occurs every three years at a minimum. The City has elected to use this alternative method for reporting its street infrastructure assets. The City contracted with the engineering firm of Kasberg, Patrick and Associates to complete pavement condition surveys for the City’s street network during 2014. DRAFT Page 74 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 47 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED M. Capital Assets – Continued Capital Assets - Streets and Drainage – Continued The City uses the CarteGraph PavementView Pavement Management Information System to track the condition levels of each of the street sections. The entire streets inventory is captured in the system and the condition of the pavement is based on the following factors:  Type of Distress  Amount of Distress  Severity of Distress  Deduct Values (function of the first three) The Pavement Condition Index (PCI) is a measurement scale based upon a condition index ranging from zero for a failed pavement to 100 for pavement with perfect condition. The condition index is used to classify pavement in the following conditions: The PCI for fiscal year 2014-2015 is 87. The previous score for 2010-2013 was 88. This will be re- evaluated in 2017. The City’s administrative policy is to maintain an average PCI level of 85. An 85 PCI is considered maintaining the streets in a “good” condition. Staff prepares a street maintenance budget that meets this target for Council’s consideration during the budget process. N. Long-term Obligations The portion of long-term general obligation debt used to finance proprietary fund operations and payable from the revenues of the Enterprise Funds is recorded in such funds. General obligation bonds and other forms of long-term debt supported by general revenues are obligations of the City as a whole and not its individual funds. Accordingly, such unmatured obligations of the City are accounted for on the statement of net position and payments of principal and interest relating to the general obligation bonds are recorded as expenditures when they are paid in the fund statements. Self-supporting general obligation debt, which will be repaid from non-general revenue sources, is recorded in the appropriate proprietary fund. O. Pensions For purposes of measuring the net pension liability, pension related deferred outflows and inflows of resources, and pension expense, City specific information about its Fiduciary Net Position in the Texas Municipal Retirement System (TMRS) and additions to/deductions from the City’s Fiduciary Net Position have been determined on the same basis as they are reported by TMRS. For this purpose, plan contributions are recognized in the period that compensation is reported for the employee, which is when contributions are legally due. Benefit payments and refunds are recognized when due and payable in accordance with the benefit terms. Investments are reported at fair value. Information regarding the City’s Total Pension Liability is obtained from TMRS through a report prepared for the City by TMRS consulting actuary, Gabriel Roeder Smith & Company, in compliance with Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions. PCI Rating 100-85 Good 84-45 Fair 44-0 Poor DRAFT Page 75 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 48 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED P. Estimates The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Specifically, the actuarial calculations used to determine the annual required contributions and related liabilities of the City’s retirement plan and post-employment obligations are based on assumptions about the possibility of events far into the future. Accordingly, actual results could differ from those estimates. Q. Comparative Data/Reclassification Comparative total data for the prior year have been presented in selected sections of the accompanying financial statements in order to provide an understanding of the changes in the City’s financial position and operations. Also, certain amounts presented in the prior year data have been reclassified in order to be consistent with the current year’s presentation. R. Risk Financing Activity The City of Georgetown is exposed to various risks of loss related to torts; theft of, damage to, and destruction of assets; errors and omission; injuries to employees; and natural disasters. During fiscal year 2015, the City purchased general liability and property insurance from Texas Municipal League Intergovernmental Risk Pool (TML-IRP). The City pays an annual premium to TML-IRP for such coverage. TML-IRP purchases reinsurance and the City does not retain risks of loss exceeding deductibles. Settled claims have not exceeded insurance coverage in the past three years. The workers compensation plan is administered and paid through the Texas Municipal League- Intergovernmental Risk Pool (TML-IRP). Under this plan, the City does not retain risks of loss exceeding the deductibles. TML-IRP also brokers the City’s Aviation and Underground Storage Tank Pollution liability insurance, as well as, the canine and surgical vet coverage. The City does not retain the risks of loss exceeding the deductibles. S. Credit Risk Financial investments which potentially subject the City to concentrations of credit risk consist principally of cash, investments and accounts receivable. At September 30, 2015, there was not a significant risk arising from cash, investments, or accounts receivable. T. Nature and Purpose of Reservations and Designation of Fund Equity The City’s Fund Balance is the accumulated difference between assets and liabilities within governmental funds, and it allows the City to meet its contractual obligations, fund disaster, or emergency costs, provide cash flow for timing purposes and fund non-recurring expenses appropriated by City Council. The City Council has adopted a financial standard to maintain a General Fund minimum balance of 90 days of budgeted on-going expenditures and 75 days city-wide. This policy establishes limitations on the purposes for which Fund Balances can be used in accordance with Governmental Accounting Standards Board (GASB) Statement Number 54. DRAFT Page 76 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 49 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED T. Nature and Purpose of Reservations and Designation of Fund Equity – Continued The City’s Fund Balance Reports Five Components Non-spendable Fund Balance – includes inherently non-spendable assets that will never convert to cash, as well as, assets that will not convert to cash soon enough to affect the current financial period. Assets included in this category are prepaid items, inventory, and non-financial assets held for resale. Restricted Fund Balance – represents the portion of fund balance that is restricted to specific purposes that are externally imposed by creditors, grantors, contributors, laws or regulations of other governments, such as hotel/motel tax and bond proceeds. Committed Fund Balance – describes the portion of fund balance that can only be used for specific purposes with constraints imposed by the formal action of the City Council’s adoption of an ordinance, and remains binding unless the City Council removes the limitation. Assigned Fund Balance – is that portion of fund balance that reflects the City’s intended use for a specific purpose but is neither restricted nor committed. Assigned fund balances are determined by City management based on Council direction, in accordance with our financial policies adopted by resolution. Unassigned Fund Balance – represents funds that have not been assigned to any other fund and cannot be properly classified in one of the other four categories within the general fund. Below is the residual classification for the general fund: General Georgetown Transportation Enhancement Corporation Debt Service General Capital Projects Nonmajor Governmental Funds Total Governmental Funds Fund balance Nonspendable Inventory/prepaids $ 66,702 -$ -$ -$ -$ $ 66,702 Spendable Restricted for Debt service - - 1,489,314 - - 1,489,314 Bond funds - - - 15,336,646 - 15,336,646 Hotel/motel tax - - - - 544,252 544,252 Street maintenance tax - - - - 2,534,655 2,534,655 Other purposes - - - - 344,436 344,436 Committed for Contingency 7,695,000 - - - - 7,695,000 Other capital projects - 8,489,829 - - - 8,489,829 Nonmajor funds - - - - 4,202,843 4,202,843 Assigned to Encumbrances 1,835,134 3,068,488 - 4,538,353 - 9,441,975 Unassigned 2,407,019 - - - (663,535) 1,743,484 Total fund balance $12,003,855 $ 11,558,317 $ 1,489,314 $ 19,874,999 $ 6,962,651 $51,889,136 When both restricted and unrestricted fund balance amounts are available for use, it is the City’s policy to use restricted fund balance first, then unrestricted fund balance. Furthermore, committed fund balances are reduced first, followed by assigned amounts and then unassigned amounts when expenditures are incurred for which amounts in any of those unrestricted fund balance classifications are available. DRAFT Page 77 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 50 NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED U. Deferred Outflows/Inflows of Resources In addition to assets, the statement of financial position and/or balance sheet will sometimes report a separate section for deferred outflows of resources. This separate financial statement element, deferred outflows of resources, represents a consumption of net position that applies to a future period(s) and so will not be recognized as an outflow of resources (expense/expenditure) until then. The City has the following items that qualify for reporting in this category.  Deferred charges on refundings – A deferred charge on refunding results from the difference in the carrying value of refunded debt and its reacquisition price. This amount is deferred and amortized over the shorter of the life of the refunded or refunding debt.  Pension contributions after measurement date – These contributions are deferred and recognized in the following fiscal year.  Difference in projected and actual earnings on pension assets – This difference is deferred and amortized over a closed five year period. In addition to liabilities, the statement of financial position and/or balance sheet will sometimes report a separate section for deferred inflows of resources. This separate financial statement element, deferred inflows of resources, represents an acquisition of net position that applies to a future period(s) and so will not be recognized as an inflow of resources (revenue) until that time. The City has only one type of item that qualifies for reporting in this category. Property taxes levied, but not expected to be available to fund obligations in the current period, are recorded as deferred inflows of the resources. V. Net Position Net position represents the difference between assets, liabilities and respective deferred outflow or inflows of resources. A portion of net position represents net investments in capital assets which is the total balance of the City’s investment in capital assets less accumulated depreciation and the outstanding balances of any borrowing spent for that acquisition, construction or improvements of those assets. Net position is reported as restricted when there are limitations imposed on their use either through (1) the enabling legislation adopted by the City, (2) through external restrictions imposed by grantors, or (3) laws or regulations of other governments. W. Change in Accounting Principles For the year ended September 30, 2015, the City implemented Governmental Accounting Standards Board (GASB) Statement No. 68, Accounting and Financial Reporting for Pensions – An Amendment of GASB Statement No. 27 and GASB Statement No. 73, Accounting and Financial Reporting for Pensions and Related Assets That Are Not Within the Scope of GASB Statement 68, and Amendments to Certain Provisions of GASB Statements 67 and 68. These statements establish accounting and financial reporting requirements related to pensions for governments whose employees are provided with pensions through pension plans, and requires the recognition of the entire net pension liability and a more comprehensive measure of pension expense, along with additional required footnote disclosures. The impact of this implementation is discussed in Note 13. DRAFT Page 78 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 51 NOTE 2. CASH AND INVESTMENTS For cash flow purposes, cash and temporary investments consist of demand deposits, certificates of deposits, and authorized investment pools. The operating cash balance from all funds is consolidated in pooled cash and investment accounts. Excess pooled balances are invested in U.S. Treasury securities, U.S. Government agency securities, fully collateralized money market funds and local government investment pools. Maturities on all investments are consistent with the City’s cash flow requirements. Investments are recorded at cost. Interest earnings are allocated to each fund based on average monthly pooled equity balances. Separate cash and investment accounts are maintained for restricted cash such as debt service, utility debt reserves, and bond proceeds reserved for future construction. The investment policies of the City are governed by State statutes and a City Council adopted Investment Policy. Major provisions of the City’s investment policy include: responsibility for investments, authorized investments, security dealer selection and qualifying procedures, safekeeping and custodial procedures, statement of investment objectives, and investment reporting requirements. Deposits Texas Statutes require that all bank deposits be insured or fully collateralized by the U.S. government obligations or obligations of the State of Texas and its agencies. Market value of the collateral pledged must equal at least 102% of the bank deposits not covered by federal deposit insurance. At year-end, the carrying amount of the City’s bank deposits was $9,018,733 and the bank balances were $17,416,672 all of which were entirely covered by Federal depository insurance or by collateral held by the City’s agent bank in the City’s name. The City’s discretely presented component unit had a carrying amount of negative $206,657 at year end, which is offset by daily liquidity deposits held in Texas Daily. In addition, the City’s Certificates of Deposits of $48,357,084 are insured or fully collateralized in accordance with Texas statutes as described above. In order to maximize interest earnings, the City utilizes a controlled disbursement account, which allows the City to deposit only as much money as needed to fund checks presented each day. Investments The City is authorized to invest in certificates of deposit, direct obligations of the U.S. government, U.S. government agency securities, fully collateralized direct repurchase agreements, no-load money market funds whose portfolios meet the City’s investment requirements, and in qualified local government investment pools as approved by the City Council. Market Risk Market risk is the potential for a decline in market value due to rising interest rates. In compliance with the City’s Investment Policy, as of September 30, 2015, the City minimized the market risk in the portfolio by limiting the weighted average maturity of security types to no longer than two years; structuring the investment portfolio so that securities matured to meet cash requirements for ongoing operations and capital improvement projects; monitoring credit ratings of portfolio positions to assure compliance with rating requirements imposed by the Public Funds Investment Act; and investing operating funds primarily in shorter-term securities and similar government investment pools. DRAFT Page 79 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 52 NOTE 2. CASH AND INVESTMENTS – CONTINUED Market Risk – Continued The City’s investments carried at fair value as of September 30, 2015, are: Fair Weighted Average Value Maturity (days) Investments Certificates of deposit 48,357,084$ 256 Texas local government investment pool (TexPool)5,186,478 1 Texas short term asset reserve program (TexSTAR)21,284,151 1 Comerica Bank money market 9,596,883 1 Southside Bank money market 10,076,415 1 Total fair value of investments 94,501,011 Portfolio weighted average maturity 131 Carrying amount - demand deposits 16,458,538 Total cash and investments 110,959,549$ Primary Government Fair Weighted Average Value Maturity (days) Investments Certificates of deposit 1,506,179$ 39 Texas short term asset reserve program (TexSTAR)1,904,351 1 Texas TERM investment pool (Texas Daily)2,002,078 1 Total fair value of investments 5,412,608 Portfolio weighted average maturity 11 Carrying amount - demand deposits (206,657) Total cash and investments 5,205,951$ Component Unit Credit Risk Credit risk is the possibility that the issuer of a security will fail to make timely payments of interest or principal. In general, the lower the credit quality of a security, the higher the yield, with all other factors being equal. In compliance with the City’s Investment Policy, as of September 30, 2015, the City minimized credit risk losses due to default of security issuer or backer by limiting investments to the safest types of securities; pre-qualifying the financial institutions, broker/dealers, intermediaries, and advisors with which the City will do business; and diversifying the investment portfolio so that potential losses on individual securities were minimized. For short-term liquidity requirements, the City primarily utilizes the Texas Short-Term Asset Reserve Program (TexSTAR). JPMorgan Fleming Asset Management, Inc. and First Southwest Asset Management, Inc. serve as co-administrators under an agreement with the TexSTAR board of directors to provide investment and participant services for this pool. JPMorgan Chase Bank or its subsidiary J.P. Morgan Investor Services Co. provides the custodial, transfer agency, fund accounting, and depository services for this pool. The City also maintains an account with the Texas Local Government Investment Pool (TexPool). Under the TexPool Participation Agreement, administrative and investment services to TexPool are provided by Federated Investors, Inc. through an agreement with the State of Texas Comptroller of Public Accounts. The State of Texas Comptroller of Public Accounts is the sole officer, director, and shareholder of the Texas Treasury Safekeeping Trust Company authorized to operate TexPool. DRAFT Page 80 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 53 NOTE 2. CASH AND INVESTMENTS – CONTINUED The City also maintains an account with the TexasTERM Local Government Investment Pool. The TexasTERM Advisory Board has contracted with PFM Asset Management LLC to serve as administrator and investment advisor to the pool. US Bank, NA provides the custodial services to the pool. The City’s account is in their TexasDAILY portfolio, a money market portfolio with daily liquidity. The TexasTERM Local Government Investment Pool investments are designed to comply with all Texas statutes, including regulations for the allowable investment of public funds. The Pool’s investors elect Advisory Board Members who are responsible for overall management of the Pool, including formulation and implementation of investment and operating policies. At year end, balances in TexSTAR, TexPool and TexasTERM were rated AAAm by Standard & Poor’s. All pools operate on a $1 net asset value basis. In order to maintain a stable $1 price of the fund, the pools will sell portfolio holdings if the ratio of the fair value of the portfolio divided by the book value of the portfolio is less than 0.995 or greater than 1.005. The pools are stated at their fair value. During 2015, the City realized no gains or losses from the sale of investments, as the City’s investment strategy is to invest to maturity. The City recognized a net increase in the fair value of investments held at year end of $2,056. NOTE 3. TAXES Property Taxes Property is appraised and a lien on such property becomes enforceable as of January 1st of each year. Taxes are levied on and payable the following October 1st. Taxes become delinquent February 1st of the following year and are subject to interest and penalty charges. Under an agreement which began August 1, 2000, Williamson County Tax Office collects the City's taxes. In the fund financial statements, City property tax revenues are recognized when levied to the extent that they are collected in the current year. Taxes collected prior to the levy date to which they apply are recorded as unearned revenues and recognized as revenue of the period to which they apply. All collections from prior year levies are considered delinquent tax revenue for reporting purposes in the year collected. The allowance for uncollectible taxes at September 30, 2015 was $9,467. The City is permitted by the State of Texas to levy taxes up to $2.50 per $100 of assessed valuation for general government services and for the payment of principal and interest on general long-term debt. The combined current tax rate to finance general government services, including debt service for the fiscal year ended September 30, 2015, was $0.4340 per $100 of assessed valuation. The Williamson Central Appraisal District (Appraisal District) is responsible for the recording and appraisal of property for all taxing units in Williamson County. The Appraisal District is required to assess property at 100% of its appraised value. Real property must be reappraised at least every four years. The City may, at its own expense, require annual reviews by the Appraisal District through various appeals and, if necessary, legal action. Under this system, if the rate, excluding tax rates for bonds and other contractual obligations adjusted for new improvements, exceeds the rate for the previous year by more than 8%, qualified voters of the City may petition for an election to determine whether to limit the tax rate to an increase of no more than 8%. In September 2004, voters approved an initiative to freeze property taxes for homeowners over the age of 65 or disabled. This measure mirrors the State of Texas Constitutional Amendment Proposition 13, which passed overwhelmingly statewide in 2003. Prop 13 gives local governments the option of “freezing” taxes for the elderly and disabled. DRAFT Page 81 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 54 NOTE 3. TAXES – CONTINUED Sales Taxes The City has adopted the provisions of Article 1066C, Vernon's Texas Civil Statutes, as amended, which grant the City the power to impose and levy a 1% Local Sales and Use Tax within the City. Proceeds of the tax are credited to the General Fund except for sales taxes generated at the airport which are credited to the Airport (Enterprise) Fund. Collections and enforcements are effected through the offices of the Comptroller of Public Accounts, State of Texas, who remits to the City monthly the proceeds of the tax, after deduction of a 2% service fee. On October 1, 2001, the City began collecting an additional ½ cent sales tax for its component unit, GTEC, to fund transportation improvements that promote economic development. These funds are reported in the GTEC General Capital Projects Fund, a blended component unit of the City. On April 1, 2003, the City began collecting an additional ¼ cent sales tax in accordance with Texas House Bill 445 to fund maintenance on streets that were in existence at the time the sales tax was adopted by the voters. In November 2010, the citizens readopted this ¼ cent sales tax option. The sunset provision will expire in March 2015. These funds are reported in the Streets Special Revenue Fund. On October 1, 2005, the City began collecting an additional 1/8 cent sales tax in accordance with the Texas Development Corporation Act of 1979, Article 5190.6, Section 4A Texas Revised Civil Statues for the promotion and development of new and expanded business enterprises. This sales tax is administered through GEDCO. On October 1, 2005, the City began collecting an additional 1/8 cent sales tax to be used toward the reduction of ad valorem property taxes. Proceeds are credited to the City’s General Fund. NOTE 4. TRANSFERS General Fund Debt Service GTEC General Capital Projects Special Revenue Internal Services Electric Water Total Transfers Out Governmental funds Major funds General fund -$ -$ -$ -$ 760,061$ 420,182$ 8,430$ -$ 1,188,673$ GTEC - 1,699,395 - - - - - - 1,699,395 General capital projects - - - - - 1,208,000 - 3,566,436 4,774,436 Nonmajor funds Special revenue funds 10,000 - 489,915 302,000 - 848,850 - - 1,650,765 Internal service funds 2,741 - - - - 267,581 - - 270,322 Enterprise funds Major funds Electric 4,760,899 - - - - 188,874 - 69,108 5,018,881 Water services 2,762,578 - - - - 513,128 2,279,506 - 5,555,212 Nonmajor funds Nonmajor enterprise funds 184,726 - - - - 68,750 - - 253,476 7,720,944$ 1,699,395$ 489,915$ 302,000$ 760,061$ 3,515,365$ 2,287,936$ 3,635,544$ 20,411,160$ Transfers eliminated in government-wide statements 15,507,071 Net transfers - statement of activities 4,904,089$ Transfers In Major Funds Governmental Funds Nonmajor Funds Enterprise Funds The net transfers between the governmental types and business types total $4,904,089. Per the City’s fiscal and budgetary policy, utility operations transfer seven percent of gross billings for utility services to the General fund as a payment of the profits of the fund or a return on investment. Other types of transfers include grant matching, fire hydrant testing, equipment purchases, and capital project funding. DRAFT Page 82 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 55 NOTE 5. CAPITAL ASSETS Capital asset activity for the year ended September 30, 2015 was as follows: Balance Deletions Balance 9/30/2014 Additions and Transfers 9/30/2015 Governmental activities Capital assets not being depreciated Land 21,720,508$ 5,627,905$ 24,519$ 27,372,932$ Streets 162,085,903 17,693,912 (3,911,600) 175,868,215 Construction in progress 45,060,261 23,921,632 (36,413,058) 32,568,835 Total capital assets not being depreciated 228,866,672 47,243,449 (40,300,139) 235,809,982 Capital assets being depreciated Equipment 37,214,759 6,628,738 (1,355,036) 42,488,461 Buildings 52,783,503 25,156,691 336,044 78,276,238 Improvements 43,563,875 1,622,006 3,721,300 48,907,181 Total capital assets being depreciated 133,562,137 33,407,435 2,702,308 169,671,880 Less accumulated depreciation for Equipment (25,326,055) (3,352,792) 1,116,891 (27,561,956) Buildings (11,538,349) (1,230,681) - (12,769,030) Improvements (13,359,387) (1,094,863) 8,806 (14,445,444) Total accumulated depreciation (50,223,791) (5,678,336) 1,125,697 (54,776,430) Total capital assets being depreciated, net 83,338,346 27,729,099 3,828,005 114,895,450 Governmental activities capital assets, net 312,205,018$ 74,972,548$ (36,472,134)$ 350,705,432$ Balance Deletions Balance 9/30/2014 Additions and Transfers 9/30/2015 Electric activities Capital assets not being depreciated Land and land rights 1,259,415$ -$ 320,096$ 1,579,511$ Construction in progress 1,059,832 8,133,830 (8,723,531) 470,131 Total capital assets not being depreciated 2,319,247 8,133,830 (8,403,435) 2,049,642 Capital assets being depreciated Equipment 2,112,232 63,363 25,000 2,200,595 Buildings and improvements 73,707 - - 7 3,707 Distribution system 134,173,651 1,019,620 8,783,909 143,977,180 Total capital assets being depreciated 136,359,590 1,082,983 8,808,909 146,251,482 Less accumulated depreciation for Equipment (878,780) (80,380) - (959,160) Buildings (36,120) (1,644) - (37,764) Distribution system (34,630,316) (3,778,452) - (38,408,768) Total accumulated depreciation (35,545,216) (3,860,476) - (39,405,692) Total capital assets being depreciated, net 100,814,374 (2,777,493) 8,808,909 106,845,790 Electric activities capital assets, net 103,133,621$ 5,356,337$ 405,474$ 108,895,432$ DRAFT Page 83 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 56 NOTE 5. CAPITAL ASSETS – CONTINUED Capital asset activity for the year ended September 30, 2015 was as follows: Balance Deletions Balance 9/30/2014 Additions and Transfers 9/30/2015 Water services activities Capital assets not being depreciated Land and land rights 784,888$ -$ 320,096$ 1,104,984$ Construction in progress 3,850,773 5,582,278 (4,434,274) 4,998,777 Total capital assets not being depreciated 4,635,661 5,582,278 (4,114,178) 6,103,761 Capital assets being depreciated Equipment 672,108 216,295 - 888,403 Buildings and improvements 3,669,971 - - 3,669,971 Distribution and water system 295,493,633 4,419,078 4,305,779 304,218,490 Total capital assets being depreciated 299,835,712 4,635,373 4,305,779 308,776,864 Less accumulated depreciation for Equipment (365,918) (88,390) - (454,308) Buildings and improvements (1,912,188) (122,868) - (2,035,056) Distribution and water system (60,246,664) (7,864,723) - (68,111,387) Total accumulated depreciation (62,524,770) (8,075,981) - (70,600,751) Total capital assets being depreciated, net 237,310,942 (3,440,608) 4,305,779 238,176,113 Water services activities capital assets, net 241,946,603$ 2,141,670$ 191,601$ 244,279,874$ Balance Deletions Balance 9/30/2014 Additions and Transfers 9/30/2015 Other nonmajor business-type activities Capital assets not being depreciated Land 981,500$ -$ -$ 981,500$ Construction in progress 2,748,170 1,009,344 (2,927,451) 830,063 Total capital assets not being depreciated 3,729,670 1,009,344 (2,927,451) 1,811,563 Capital assets being depreciated Equipment 168,589 15,813 2,241,740 2,426,142 Buildings and improvements 3,856,218 - - 3,856,218 Distribution systems 39,841,351 1,9 58,264 1,919,553 43,719,168 Total capital assets being depreciated 43,866,158 1,974,077 4,161,293 50,001,528 Less accumulated depreciation for Equipment (160,377) (4,800) - (165,177) Buildings and improvements (1,975,450) (118,520) - (2,093,970) Distribution systems (11,761,604) (1,054,449) - (12,816,053) Total accumulated depreciation (13,897,431) (1,177,769) - (15,075,200) Total capital assets being depreciated, net 29,968,727 796,308 4,161,293 34,926,328 Other nonmajor business-type activities capital assets, net 33,698,397$ 1,805,652$ 1,233,842$ 36,737,891$ DRAFT Page 84 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 57 NOTE 5. CAPITAL ASSETS – CONTINUED Capital asset activity for the year ended September 30, 2015 was as follows: Balance Deletions Balance 9/30/2014 Additions and Transfers 9/30/2015 Total business-type activities Capital assets not being depreciated Land and land rights 3,025,803$ -$ 640,192$ 3,665,995$ Construction in progress 7,658,775 14,725,452 (16,085,256) 6,298,971 Total capital assets not being depreciated 10,684,578 14,725,452 (15,445,064) 9,964,966 Capital assets being depreciated Equipment 2,952,929 295,471 2,266,740 5,515,140 Buildings and improvements 7,599,896 - - 7,599,896 Distribution systems 469,508,635 7,396,962 15,009,241 491,914,838 Total capital assets being depreciated 480,061,460 7,692,433 17,275,981 505,029,874 Less accumulated depreciation for Equipment (1,405,075) (173,570) - (1,578,645) Buildings (3,923,758) (243,032) - (4,166,790) Improvements (106,638,584) (12,697,624) - (119,336,208) Total accumulated depreciation (111,967,417) (13,114,226) - (125,081,643) Total capital assets being depreciated, net 368,094,043 (5,421,793) 17,275,981 379,948,231 Total business-type activities capital assets, net 378,778,621$ 9,303,659$ 1,830,917$ 389,913,197$ Depreciation expense was charged to function/programs of the primary government as follows: Governmental activities Culture/recreation 617,931$ Fire 135,394 General government 1,474,338 Highways and streets 396,448 Police 234,402 Internal service funds 2,819,823 Total depreciation expense governmental activities 5,678,336$ Business-type activities Electric 3,860,476$ Water services 8,075,981 Nonmajor 1,177,769 Total depreciation expense business-type activities 13,114,226$ DRAFT Page 85 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 58 NOTE 5. CAPITAL ASSETS – CONTINUED Governmental Activities Business-type Activities Total Net investment in capital assets Total capital assets (net of accumulated depreciation) 350,705,432$ 389,913,197$ 740,618,629$ Less long-term debt and related charges (131,202,552) (84,911,835) (216,114,387) Add unspent bond proceeds 19,874,999 23,885,491 43,760,490 Net long-term debt (111,327,553) (61,026,344) (172,353,897) Net investment in capital assets (net of related debt) 239,377,879$ 328,886,853$ 568,264,732$ NOTE 6. LONG-TERM DEBT A. Overview The following is a summary of long-term debt transactions of the City for the fiscal year ended September 30, 2015: Balance 9/30/14 Additions Retirements Balance 9/30/15 Due Within One Year Governmental activities General obligation bonds (payable from tax pledge) $ 116,200,602 $ 19,674,703 $ (12,909,559) $ 122,965,746 $ 8,125,436 Premiums 2,393,974 1,001,941 (370,013) 3,025,902 256,094 Sales tax revenue bonds 8,470,000 7,755,000 (8,470,000) 7,755,000 530,000 Compensated absences 4,203,917 1,978,891 (1,304,399) 4,878,409 1,516,613 Net pension liability 10,833,486 541,899 - 11,375,385 - Other post employment benefits 627,030 159,670 - 786,700 - Total governmental activities 142,729,009 31,112,104 (23,053,971) 150,787,142 10,428,143 Business-type activities Revenue bonds 61,885,000 10,920,000 (4,895,000) 67,910,000 4,460,000 Premiums 1,973,741 230,604 (177,137) 2,027,208 188,714 Compensated absences 818,320 434,824 (338,532) 914,612 385,331 Net pension liability 2,561,194 128,115 - 2,689,309 - General obligation bonds (payable from airport, storm- water and electric revenues) 13,884,399 4,490,297 (1,960,437) 16,414,259 1,364,565 Total business-type activities 81,122,654 16,203,840 (7,371,106) 89,955,388 6,398,610 Total long-term debt $ 223,851,663 $ 47,315,944 $ (30,425,077) $ 240,742,530 $ 16,826,753 Liabilities for compensated absences, net pension obligation, and other post-employment benefits that are included in governmental activities are expended primarily in the General Fund as benefits are used by the employees. DRAFT Page 86 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 59 NOTE 6. LONG-TERM DEBT – CONTINUED A. Overview – Continued At September 30, 2015, there was $158,950,000 of authorized but unissued general obligation bonds. There are no authorized but unissued revenue bonds. The City is in compliance with all bond ordinances. Fiscal Year Ending September 30 Principal Interest Principal Interest Principal Interest 2016 8,655,436$ 4,416,432$ 5,824,565$ 3,005,059$ 14,480,001$ 7,421,491$ 2017 8,822,940 4,087,515 6,112,061 2,725,932 14,935,001 6,813,447 2018 8,634,507 3,828,149 6,300,493 2,548,110 14,935,000 6,376,259 2019 8,372,432 3,580,252 5,867,570 2,356,348 14,240,002 5,936,600 2020 8,154,578 3,332,479 5,645,424 2,160,088 13,800,002 5,492,567 2021-2025 41,095,167 12,644,882 26,059,834 7,881,169 67,155,001 20,526,051 2026-2030 28,282,411 5,989,928 18,902,588 3,471,911 47,184,999 9,461,839 2031-2035 15,353,275 2,103,292 9,611,724 955,859 24,964,999 3,059,151 2036-2037 3,350,000 158,944 - - 3,350,000 158,944 130,720,746$ 40,141,873$ 84,324,259$ 25,104,476$ 215,045,005$ 65,246,349$ Governmental Business-type Total General Obligation Debt A summary of tax-supported general obligation debt outstanding at September 30, 2015: $4,135,000, 2006 Combination tax & revenue certificates ofobligation due in annual installments through August 15, 2026; interest at 4% to 4.625% (portion included below) $ 1,288,368 $13,070,000, 2007 General obligation and Refunding bonds due in annual installments through August 15, 2027; interest at 4% to 4.625% (portion included below) 2,922,640 $8,715,000, 2007 Combination tax & revenue certificates ofobligation due in annual installments through August 15, 2027; interest at 4% to 4.5% 1,285,000 $4,395,000, 2008 Combination tax & revenue certificates ofobligation due in annual installments through August 15, 2028; interest at 3.5% to 4.625% (portion included below) 790,160 $5,400,000, 2009 Combination tax & revenue certificates ofobligation due in annual installments through August 15, 2029; interest at 3% to 5% (portion included below) 4,210,000 $2,433,565, 2009 General obligation and Refunding bonds due in annual installments through August15,2029;interestat2% to 4.5% (portion included below) 1,331,200 $2,487,351, 2010 Combination tax & revenue certificates ofobligation due in annual installments through August 15, 2029; interest at 1.75% to 4.15% (portion included below) 2,065,000 $1,370,000, 2010 General obligation bonds due in annual installments through August 15, 2029; interest at 3% to 4.5% 1,130,000 10,320,000 $11,930,000, 2010A General obligation bonds due in annual installments through August 15, 2030; interest at 2% to 3.5% DRAFT Page 87 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 60 NOTE 6. LONG-TERM DEBT – CONTINUED B. General Obligation Debt – Continued $ 7,810,000 $12,500,000, 2012 General obligation bonds due in annual installments through August 15, 2037; interest at 1.5% to 3.625% 11,795,000 $1,650,000, 2012 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2032; interest at 1.5% to 3.375% (portion included below) 1,252,500 $1,016,532, 2012 General obligation and Refunding bonds due in annual installments through August 15, 2029; interest at 0.2% to 3.25% (portion included below) 800,300 11,815,000 8,820,000 9,270,045 4,700,000 1,800,978 $12,112,970, 2014 General obligation and Refunding bonds due in annual installments through August 15, 2027; interest at 2.00% to 4.00% (portion included below) 9,511,775 4,345,000 3,175,000 $4,042,295, 2015 General obligation and Refunding bonds due in annual installments through August 15, 2028; interest at 2.000% to 3.125% (portion included below) 4,042,295 Total $ 104,480,261 $3,175,000, 2015 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2035; interest at 2.00% to 3.50% (portion included below) $4,800,000, 2014 General obligation bonds due in annual installments through August 15, 2034; interest at 2.0% to 3.60% $1,841,000, 2014 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2034; interest at 3.00% to 3.625% $9,646,983, 2013 General obligation and Refunding bonds due in annual installments through August 15, 2025; interest at 2.0% to 4.0% (portion $9,720,000, 2011 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2031; interest at 2% to 4% $12,500,000, 2012A General obligation bonds due in annual installments through August 15, 2037; interest at 2.0% to 3.25% (portion included below) $9,500,000, 2013 General obligation bonds due in annual installments through August 15, 2037; interest at 2.0% to 3.375% (portion included below) $4,345,000, 2015 General obligation bonds due in annual installments through August 15, 2035; interest at 3.00% to 4.00% A summary of self-supporting general obligation debt outstanding at September 30, 2015: $7,830,000, 2006 Combination tax & revenue refunding bonds due in annual installments through August 15, 2024; interest at 4.2% to 5%; designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. $ 3,585,000 $1,235,000, 2006 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2026; interest at 4% to 4.625%; designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. 531,632 DRAFT Page 88 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 61 NOTE 6. LONG-TERM DEBT – CONTINUED B. General Obligation Debt – Continued $439,666, 2007 General obligation and Refunding bonds due in annual installments through August 15, 2021; interest at 4% to 4.625%; portion dedicated for Airport Improvements, $23,855, to be paid with Airport fees. Portion dedicated for Stormwater Drainage Improvements, $415,811, to be paid through monthly fees charged to utility customers within City limit. $ 142,360 $750,000, 2008 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2028; interest at 3.5% to 4.625%; to be paid through monthly Stormwater Drainage fees charged to utility customers within City limits. 134,838 $1,076,435, 2009 General obligation and Refunding bonds due in annual installments through August 15, 2029; interest at 2% to 4.5%; portion dedicated for Airport Improvements, $58,375, to be paid with Airport fees. Portion dedicated for Stormwater Drainage Improvements, $1,018,060 to be paid through monthly fees charged to utility customers within the City limits. 368,800 $1,010,000, 2010 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2029; interest at 1.75% to 4.15%; to be paid through monthly Stormwater Drainage fees charged to utility customers within City limits. 820,000 $3,035,000, 2010 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2019; interest at 1.75% to 3.1%; paid through Electric utility revenues. 1,510,000 $1,650,000, 2012 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2032; interest at 1.5% to 3.375%; designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. 1,252,500 $195,000 Combination tax& revenue certificates ofobligation due in annual installments through August 15, 2016; interest at 2.0% to 4.0%; designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. 65,000 $2,165,180, 2012 General obligation and Refunding bonds due in annual installments through August 15, 2029; interest at 0.2% to 3.25%; designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. 1,704,613 $5,233,289, 2012 General obligation and Refunding bonds due in annual installments through August 15, 2029; interest at 0.2% to 3.25%; paid through Electric utility revenues. 4,120,088 $4,065,000, 2013 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2033; interest at 2.0% to 3.25%; to be paid through Electric and Water utility revenues. 3,795,000 $442,408, 2013 General obligation and Refunding bonds due in annual installments through August 15, 2025; interest at 2.0% to 4.0%; portion dedicated for Airport Improvements, $254,219, to be paid with Airport fees. Portion dedicated for Stormwater Drainage Improvements, $188,189 to be paid through monthly fees charged to utility customers within the City limits. 425,122 $915,616, 2013 General obligation and Refunding bonds due in annual installments through August 15, 2025; interest at 2.0% to 4.0%; designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. 879,840 449,020 $459,000, 2014 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2034; interest at 3.00% to 3.625% to be paid through monthly Stormwater Drainage fees charged to utility. DRAFT Page 89 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 62 NOTE 6. LONG-TERM DEBT – CONTINUED B. General Obligation Debt – Continued $162,030, 2014 General obligation and Refunding bonds due in annual installments through August 15, 2027; interest at 2.00% to 4.00% portion dedicated for Airport Improvements, $8,593, to be paid with Airport fees. Portion dedicated for Stormwater Drainage Improvements, $153,438, to be paid through monthly fees charged to utility customers within City limit. $ 158,731 $12,112,970, 2014 General obligation and Refunding bonds due in annual installments through August 15, 2027; interest at 2.00% to 4.00% designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. 2,354,495 $6,470,000, 2015 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2035; interest at 2.00% to 3.60%; to be paid through annual ad valorem tax levied on all taxable property within the City. 6,470,000 $675,297, 2015 General obligation and Refunding bonds due in annual installments through August 15, 2028; interest at 2.0% to 3.125%; portion dedicated for Airport Improvements, $188,168, to be paid with Airport fees. Portion dedicated for Stormwater Drainage Improvements, $487,129 to be paid through monthly fees charged to utility customers within the City limits. 675,297 $1,642,408, 2015 General obligation and Refunding bonds due in annual installments through August 15, 2028; interest at 2.0% to 3.125%; designated for GTEC capital improvements to be paid through revenues from the ½ cent GTEC sales tax. 1,642,408 $3,070,000, 2015 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2035; interest at 2.00% to 3.50%; portion dedicated for Airport Improvements, $865,000, to be paid with Airport fees. Portion dedicated for Stormwater Drainage Improvements, $2,205,000 to be paid through monthly fees charged to utility customers within the City limits. 3,070,000 $745,000, 2015 Combination tax & revenue certificates of obligation due in annual installments through August 15, 2035; interest at 2.00% to 3.50%; paid through electric utility revenues. 745,000 Subtotal self-supported general obligation debt 34,899,744 Total outstanding general obligation debt as of September 30, 2015 $ 139,380,005 This amount is reported in the government-wide statements of activities as: Governmental activities $ 122,965,746 Business-type activities 16,414,259 $ 139,380,005 C. General Obligation Advanced Refunding/Defeasance On June 25, 2015, the City issued $6,360,000 in General Obligation Refunding Bonds Series 2015 with an interest rate of 2.0%-3.125% to advance refund $2,790,000 of outstanding Series 2005 General Obligation and Refunding Bonds, $1,770,000 of outstanding Series 2005 Combination Tax and Utility System Limited Revenue Certificates of Obligation, and $1,645,000 of outstanding Series 2008 Combination Tax and Revenue Certificates of Obligation Bonds. The net proceeds (after insurance and other issuance costs) were deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on the defeased bonds. As a result, these are considered to be defeased and the liabilities for those bonds have been removed from the financial statements. The City advance refunded these bonds to reduce its total debt service payments over the next 14 years by approximately $467,000 and to obtain a net economic gain (difference between the present values of debt service payments on the old and new debt) of approximately $392,000. DRAFT Page 90 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 63 NOTE 6. LONG–TERM DEBT – CONTINUED C. General Obligation Advanced Refunding/Defeasance – Continued In prior years, the City defeased bonds by placing the proceeds of the refunding bonds in an irrevocable trust to provide for all future debt service payments on the defeased bonds. Accordingly, the trust account assets and liabilities for the defeased bonds are not included in the City’s financial statements. At September 30, 2015, the outstanding balance of the defeased bonds is $13,715,000. D. Sales Tax Revenue Debt – Georgetown Transportation Enhancement Corporation A summary of sales tax revenue debt outstanding at September 30, 2015 follows: $7,755,000, 2015 Senior lien sales tax revenue bonds due in annual installlments through August 15, 2027; interest at 2.00% to 4.00%; repaid with 1/2 cent sales tax revenue $ 7,755,000 Total outstanding sales tax revenue debt as of September 30, 2015 $ 7,755,000 On June 25, 2015, the City issued $7,755,000 in Senior Lien Sales Tax Revenue Refunding Bonds Series 2015 with an interest rate of 2%-4% to refund $8,470,000 of outstanding Series 2007 Senior Lien Sales Tax Revenue Bonds. The net proceeds (after insurance and other issuance costs) were deposited in an irrevocable trust with an escrow agent to provide for all future debt service payments on the defeased bonds. As a result, these are considered to be defeased and the liabilities for those bonds have been removed from the financial statements. The City advance refunded these bonds to reduce its total debt service payments over the next 13 years by approximately $355,000 and to obtain a net economic gain (difference between the present values of debt service payments on the old and new debt) of approximately $292,000. E. Discretely Presented Component Unit – Loan Payable Georgetown Economic Development Corporation (GEDCO) received a loan from the Water Services Fund as part of a tri-party agreement for economic development. The loan repayment schedule by GEDCO is as follows: Fiscal Year Ending September 30,Principal Interest 2016 74,430$ 32,265$ 2017 86,861 28,978 2018 90,485 26,128 2019 80,568 23,157 2020-2024 386,948 82,495 2025-2027 203,956 15,368 923,248$ 208,391$ GEDCO DRAFT Page 91 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 64 NOTE 6. LONG–TERM DEBT – CONTINUED F. Revenue Debt A summary of revenue bonds outstanding at September 30, 2015: $8,665,000 2006 Utility System Revenue bonds due in annual installments through August 15, 2026; interest at 4% to 4.625% $ 1,845,000 $3,205,000, 2006 Utility System Revenue & Refunding bonds due in annual installments through August 15, 2020; interest at 4% to 4.5% 645,000 $8,250,000 2007 Utility System Revenue bonds due in annual installments through August 15, 2027; interest at 4% to 4.5% 2,139,015 $3,935,000, 2007 Utility System Revenue & Refunding bonds due in annual installments through August 15, 2021; interest at 4% to 4.25% 545,985 $9,415,000, 2008 Utility System Revenue bonds due in annual installments through August 15, 2028; interest at 3.5% to 4.625% 6,985,000 $7,055,000, 2008 Utility System Revenue & Refunding bonds due in annual installments through August 15, 2048; interest at 3.5% to 4% 760,000 $10,120,000,2010 UtilitySystem Revenue bonds due in annual installments through August 15, 2029; interest at 3% to 4% 8,405,000 $7,715,000, 2012 Utility System Revenue & Refunding bonds due in annual installments through August 15, 2023; interest at 2% to 4% 6,185,000 $11,855,000,2014 UtilitySystem Revenue & Refunding bonds due in annual installments through August 15, 2027; interest at 2% to 4% 11,640,000 $13,000,000,2014 UtilitySystem Revenue bonds due in annual installments through August 15, 2034; interest at 2% to 4% 12,735,000 $5,350,000, 2014 Utility System Revenue bonds due in annual installments through August 15, 2031; interest at 1% to 4% 5,105,000 $10,920,000,2015 UtilitySystem Revenue & Refunding bonds due in annual installments through August 15, 2035; interest at 3.00% to 3.75% 10,920,000 Total outstanding revenue debt as of September 20, 2015 $ 67,910,000 G. Revenue Bond Advanced Refunding/Defeasance All net revenues of the electric and water services system are pledged for the payment of debt service for the revenue bonds. Net revenues, as defined by the various bond ordinances, include income and revenues derived from the operation of the system, after deduction of the amount necessary to pay all operating, maintenance, replacement, and betterment charges of the system. These bond ordinances require that the net revenues, as defined, equal at least 1.25 times the average annual debt service on all revenue bonds. The City was in compliance with this requirement at September 30, 2015. In prior years, the City defeased revenue bonds by placing the proceeds of the refunding bonds in an irrevocable trust to provide for all future debt service payments on the defeased bonds. Accordingly, the trust account assets and liabilities for the defeased bonds are not included in the City’s financial statements. At September 30, 2015, the outstanding balance of the defeased bonds is $9,095,000. DRAFT Page 92 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 65 NOTE 7. DEFINED BENEFIT PENSION PLAN A. Plan Description The City participates as one of 860 plans in the nontraditional, joint contributory, hybrid defined benefit pension plan administered by the Texas Municipal Retirement System (TMRS). TMRS is an agency created by the State of Texas and administered in accordance with the TMRS Act, Subtitle G, Title 8, Texas Government Code (the TMRS Act) as an agent multiple-employer retirement system for municipal employees in the State of Texas. The TMRS Act places the general administration and management of the System with a six-member Board of Trustees. Although the Governor, with the advice and consent of the Senate, appoints the Board, TMRS is not fiscally dependent on the State of Texas. TMRS’s defined benefit pension plan is a tax-qualified plan under Section 401 (a) of the Internal Revenue Code. TMRS issues a publicly available comprehensive annual financial report (CAFR) that can be obtained at www.tmrs.com. All eligible employees of the city are required to participate in TMRS. B. Benefits Provided TMRS provides retirement, disability, and death benefits. Benefit provisions are adopted by the governing body of the City, within the options available in the state statutes governing TMRS. At retirement, the benefit is calculated as if the sum of the employee’s contributions, with interest, and the city- financed monetary credits with interest were used to purchase an annuity. Members may choose to receive their retirement benefit in one of seven actuarially equivalent payments options. Members may also choose to receive a portion of their benefit as a Partial Lump Sum Distribution in an amount equal to 12, 24, or 36 monthly payments, which cannot exceed 75% of the member’s deposits and interest. A summary of plan provisions for the City are as follows: Employee deposit rate 7% Matching ratio (City to employee)2 to 1 Years required for vesting 5 Service retirement eligibility 20 years at any age, 5 years at age 60 and above Updated Service Credit 75% Repeating Annuity Increase to retirees 50% of CPU Repeating Employees covered by benefit terms At the December 31, 2014 valuation and measurement date, the following employees were covered by the benefit terms: Retirees or beneficiaries currently receiving benefits 141 Inactive employees entitled to but not yet receiving benefits 163 Active employees 527 831 DRAFT Page 93 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 66 NOTE 7. DEFINED BENEFIT PENSION PLAN – CONTINUED C. Contributions The contribution rates for employees in TMRS are either 5%, 6%, or 7% of employee gross earnings, and the city matching percentages are either 100%, 150%, or 200%, both as adopted by the governing body of the city. Under the state law governing TMRS, the contribution rate for each city is determined annually by the consulting actuary, using the Entry Age Normal (EAN) actuarial cost method. The actuarially determined rate is the estimated amount necessary to finance the cost of benefits earned by employees during the year, with an additional amount to finance any unfunded accrued liability. Employees for the City of Georgetown were required to contribute 7% of their annual gross earnings during the fiscal year. The contribution rates for the City of Georgetown were 11.91% and 11.83% in calendar years 2014 and 2015, respectively. The City’s contributions to TMRS for the year ended September 30, 2015 were $4,165,570 and were equal to the required contributions. D. Net Pension Liability The City’s Net Pension Liability (NPL) was measured as of December 31, 2014, and the Total Pension Liability (TPL) used to calculate the Net Pension Liability was determined by an actuarial valuation as of that date. Actuarial assumptions: The Total Pension Liability in the December 31, 2014 actuarial valuation was determined using the following actuarial assumptions: Inflation 3.0% per year Overall payroll growth 3.0% per year Investment rate of return 7.0%, net pension plan investment expense, including inflation Salary increases were based on a service-related table. Mortality rates for active members, retirees, and beneficiaries were based on the gender-distinct RP2000 Combined Healthy Mortality Table, with male rates multiplied by 109% and female rates multiplied by 103%. The rates are projected on a fully generational basis by scale BB to account for future mortality improvements. For disabled annuitants, the gender-distinct RP2000 Disabled Retiree Mortality Table is used, with slight adjustments. Actuarial assumptions used in the December 31, 2014 valuation were based on the results of actuarial experience studies. This experience study was for the period January 1, 2006 through December 31, 2009, first used in the December 31, 2010 valuation. Healthy post-retirement mortality rates and annuity purchase rates were updated based on a Mortality Experience Investigation Study covering 2009 through 2011, and dated December 31, 2013. These assumptions were first used in the December 31, 2013 valuation, along with a change to the Entry Age Normal (EAN) actuarial cost method. Assumptions are reviewed annually. No additional changes were made for the 2014 valuation. The long-term expected rate of return on pension plan investments is 7.0%. The pension plan’s policy in regard to the allocation of invested assets is established and may be amended by the TMRS Board of Trustees. Plan assets are managed on a total return basis with an emphasis on both capital appreciation as well as the production of income, in order to satisfy the short-term and long-term funding needs of TMRS. The long-term expected rate of return on pension plan investments was determined using a building-block method in which best estimate ranges of expected future real rates of return (expected returns, net of pension plan investment expense and inflation) are developed for each major asset class. These ranges are combined to produce the long-term expected rate of return by weighting the expected future real rates of return by the target asset allocation percentage and by adding expected inflation. DRAFT Page 94 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 67 NOTE 7. DEFINED BENEFIT PENSION PLAN – CONTINUED D. Net Pension Liability – Continued The target allocation and best estimates of arithmetic real rates of return for each major asset class are summarized in the following table: Asset Class Domestic Equity 17.5%4.80% International Equity 17.5%6.05% Core Fixed Income 30.0%1.50% Non-Core Fixed Income 10.0%3.50% Real return 5.0%1.75% Real Estate 10.0%5.25% Absolute Return 5.0%4.25% Private Equity 5.0%8.50% Total 100.0% Target Allocation Long-Term Expected Real Rate of Return (Arithmetic) Discount Rate The discount rate used to measure the Total Pension Liability was 7.0%. The projection of cash flows used to determine the discount rate assumed that employee and employer contributions will be made at the rates specified in statute. Based on that assumption, the pension plan’s Fiduciary Net Position was projected to be available to make all projected future benefit payments of current active and inactive employees. Therefore, the long-term expected rate of return on pension plan investments was applied to all periods of projected benefit payments to determine the Total Pension Liability. Changes in Net Pension Liability Total Pension Liability Plan Fiduciary Net Position Net Pension Liability (a) (b) (a) - (b) Balance at December 31, 2013 95,447,335$ 82,052,653$ 13,394,682$ Changes for the year: Service cost 4,549,949 - 4,549,949 Interest 6,747,717 - 6,747,717 Change of benefit terms - - - Difference between expected and actual experience 71,207 - 71,207 Changes of assumptions - - - Contributions - employer - 3,800,520 (3,800,520) Contributions - employee - 2,256,459 (2,256,459) Net investment income - 4,694,918 (4,694,918) Benefit payments, including refund of employee contributions (2,652,717) (2,652,717) - Administrative expense - (49,007) 49,007 Other changes - (4,029) 4,029 Net changes 8,716,156 8,046,144 670,012 Balance at December 31, 2014 104,163,491$ 90,098,797$ 14,064,694$ Increase (Decrease) DRAFT Page 95 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 68 NOTE 7. DEFINED BENEFIT PENSION PLAN – CONTINUED D. Net Pension Liability – Continued Sensitivity of the Net Pension Liability to Changes in the Discount Rate The following presents the net pension liability of the City, calculated using the discount rate of 7.0%, as well as what the City’s net pension liability would be if it were calculated using a discount rate that is 1-percentage- point lower (6.0%) or 1-percentage-point higher (8.0%) than the current rate: 1% Decrease in Discount Rate (6.0%) Discount Rate (7.0%) 1% Increase in Discount Rate (8.0%) City's net pension liability 30,922,175$ 14,064,692$ 333,221$ Pension Plan Fiduciary Net Position Detailed information about the pension plan’s Fiduciary Net Position is available in a separately-issued TMRS financial report. That report may be obtained on the Internet at www.tmrs.com. E. Pension Expense and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions For the year ended September 30, 2015, the City recognized pension expense of $3,570,897. At September 30, 2015, the City reported deferred outflows of resources and deferred inflows of resources related to pensions from the following sources: Deferred Ourflows of Resources Differences between expected and actual economic experience 60,621$ Changes in actuarial assumptions - Difference between projected and actual investment earnings 839,014 Contributions subsequent to the measurement date 3,165,651 Total 4,065,286$ Deferred outflows of resources related to pensions resulting from contributions subsequent to the measurement date of $3,165,651 will be recognized as a reduction of the net pension liability for the measurement year ending December 31, 2015 (i.e. recognized in the city’s financial statements September 30, 2016). Other amounts reported as deferred outflows and inflows of resources related to pensions will be recognized in pension expense as follows: Measurement Year ended December 31, 2015 220,340$ 2016 220,340 2017 220,340 2018 220,338 2019 10,586 Thereafter 7,691 899,635$ DRAFT Page 96 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 69 NOTE 8. OTHER POST EMPLOYMENT BENEFITS (OPEB) In addition to the contributions made to TMRS, the City provides certain other post-employment benefits (OPEB) to its retirees and dependents through its health insurance provider, an agent multiple-employer system. Full time employees of the City of Georgetown are eligible to receive continued health benefits and dental and vision coverage for the person and the person’s dependents unless anyone is eligible for coverage through another employer. Retirees of the City are eligible to continue with coverage at the same level they had during employment. Retirees are eligible at age 60 with 5 years of services or at any age with 20 years of service. Other post-employment benefit levels for retirees are the same as coverage provided to active City of Georgetown employees in accordance with the terms and conditions of the current City of Georgetown Health Plan. Other post employment benefits are funded on a pay-as-you-go basis. The City recognizes the cost of providing these benefits as an expense on the government wide statements. The estimated obligation of providing these benefits was $786,700 in 2015, according to a report on the results of the actuarial valuation of assets and benefits values associated with OPEB requirements. This is an increase of $159,670 over last year’s obligation of $627,030. The Projected Unit Credit actuarial cost method is used to calculate the GASB ARC for the City’s retiree health care plan. Using the plan benefits, the present health premiums and a set of actuarial assumptions, the anticipated future payments are projected. The projected unit credit method then provides for a systematic recognition of the cost of these anticipated payments. The yearly ARC is computed to cover the cost of benefits being earned by covered members as well as to amortize a portion of the unfunded accrued liability. The City is under no obligation, statutory or otherwise, to offer other post employment benefits to any retirees, or their dependents. Allocation of city funds to make these benefits available is determined on an annual basis by the City Council as part of the budget approval process. In December 2010, the City Council approved an ordinance that permanently segregates the retiree population from the active employee population in the health plan and established a retiree stipend. Council agreed to fund a retiree supplement per month per retiree to stabilize the retiree rate to an amount comparable to their current rates while a more permanent policy on retiree healthcare is developed. A copy of the Actuarial Valuation Report for the Employee Retirement Benefit Program may be obtained by contacting Gabriel, Roeder, Smith & Company at 5605 N. MacArthur Blvd., Suite 870, Irving, Texas 75038-2631. Annual Other Post Employment Benefits Cost and Net OPEB (Obligation) Asset The City’s annual OPEB cost is calculated based on the annual required contribution (ARC) of the employer, an amount actuarially determined in accordance within the parameters of GASB Statement No, 45, Accounting and Financial Reporting by Employers for Benefits Other than Pensions (GASB 45). The ARC represents a level of accrual that is projected to recognize the normal cost each year and to amortize any unfunded actuarial liabilities (or funding excess) over a period not to exceed 30 years. DRAFT Page 97 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 70 NOTE 8. OTHER POST EMPLOYMENT BENEFITS (OPEB) – CONTINUED Annual Other Post Employment Benefits Cost and Net OPEB (Obligation) Asset – Continued The annual OPEB cost for the City’s retiree benefits for the fiscal year ended September 30, 2015 and previous two years, is as follows: 2015 2014 2013 Annual required contribution 199,669$ 193,853$ 122,782$ Interest in OPEB obligation 28,216 20,702 16,255 Adjustment to ARC (26,142) (19,180) (15,060) Annual OPEB cost (expense) end of year 201,743 195,375 123,977 Contributions made (pay as you go)(42,073) (28,384) (25,158) Increase in net OPEB obligation 159,670 166,991 98,819 Net OPEB obligation, beginning of year 627,030 460,039 361,220 Net OPEB obligation, end of year 786,700$ 627,030$ 460,039$ Assumptions OPEB Actuarial valuation date December 31, 2013 Actuarial cost method Projected unit credit cost method Amortization method Level as percent of payroll Remaining amortization period 30 years, open amortization Assumed rate of Return on investments 4.5% net of expenses Health care cost trend rate Initial rate of 7.5% declining to an ultimate rate of 4.5% after 12 years Payroll growth 3.0% annum Inflation rate 3.0% annum The projected unit credit actuarial cost method is used to calculate the GASB 45 ARC for the City’s OPEB. Using the plan benefits, the present health premiums and a set of actuarial assumptions, the anticipated future benefits are projected. The project unit credit method then provides for a systemic recognition of the cost of these anticipated payments. The yearly ARC is computed to cover the cost of benefits being earned by covered members as well as to amortize a portion of the unfunded accrued liability. Projections of health benefits are based on the plan as understood by the City and include the types of benefits in force at the valuation date and the pattern of shared benefit costs between the City and its employees to that point. Actuarial calculations reflect a long-term perspective and employ methods and assumptions that are designed to reduce short-term volatility in actuarial accrued liabilities and the actuarial value of assets. Significant methods and assumptions used are described in the table above. Actuarial valuations for OPEB plans involve estimates of the value of reported amounts and assumptions about the probability of events in the future. Amounts determined regarding the funded status and the ARC of the City’s retiree health care plan are subject to continual revision as actual results are compared to past expectations and new estimates are made about the future. The required schedule of funding progress presented as required supplementary information provides multiyear trend information that shows whether the actuarial value of plan assets in increasing or decreasing over time relative to the actuarial accrued liability for benefits. The City’s annual OPEB cost, the percentage of annual OPEB cost contributed to the plan, and the net OPEB obligation for 2015 and the two preceding years are as follows: DRAFT Page 98 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 71 NOTE 8. OTHER POST EMPLOYMENT BENEFITS (OPEB) – CONTINUED Annual Other Post Employment Benefits Cost and Net OPEB (Obligation) Asset – Continued Percentage Net OPEB of Annual Year Ended Annual OPEB Employer Obligation OPEB Cost September 30, Cost Contributions End of Year Contributed 2013 123,977$ 25,158$ 460,039$ 20.3% 2014 195,375 28,384 627,030 14.5% 2015 201,743 42,073 786,700 20.9% Funded Status The funded status of the City’s OPEB plan under GASB 45 for the past three years is as follows: Unfunded Actuarial Actuarial Percentage Valuation Actuarial Actuarial Accrued Annual of UAAL as of Value of Accrued Liability Funded Covered for Covered December 31,Assets Liability (UAAL)Ratio Payroll Payroll 2013 -$ 978,491$ 978,491$ 0% 27,392,533$ 4% 2014 - 1,615,808 1,615,808 0% 30,136,850 5% 2015 - 1,615,808 1,615,808 0% 32,235,133 5% Under GASB 45, the City’s retiree health care plan is 0.0% funded with an estimated actuarial accrued liability exceeding actuarial assets $1,615,808 at December 31, 2014. As of that date, the ratio of the unfunded actuarial accrued liability to annual covered payroll is 5.0%. NOTE 9. RISK MANAGEMENT Health Benefits – On January 1, 2014, the City began a self-funded insurance program for provision of employee health insurance. In fiscal year 2015, the City made contributions to cover 85% of the employees’ costs for medical plan premiums. The employees authorized payroll withholdings to pay the remainder contributions for themselves, and their family members, if elected. In accordance with state statute, the City maintains a catastrophic loss insurance policy (stop-loss policy), which reimburses the City for annual claims totaling over $150,000 per covered individual. For the fiscal year ended 2015, the City received insurance settlements totaling approximately $632,375. The City made no significant reductions in insurance coverage and no settlements have exceeded insurance coverage for the 2015 fiscal year. The City’s contributions for benefits during the year totaled $4,295,693. Estimates of claims payable and of claims incurred but not reported at September 30, 2015 are reflected as accrued expenses of the fund. The liabilities include an amount for claims that have been incurred but were not reported until after September 30, 2015. Because actual claims liabilities depend on such complex factors such as inflation, changes in legal requirements, and damage awards, the process used in computing claims liability is an estimate that could materially change when the claims are ultimately finalized. Analysis of claims liability for the fiscal year 2015 is as follows: Unpaid claims, beginning of year 373,150$ Incurred claims 3,075,002 Claim payments (2,980,758) Unpaid claims, end of year 467,394$ DRAFT Page 99 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 72 NOTE 10. DEFERRED COMPENSATION PLAN The City offers its employees a deferred compensation plan in accordance with Internal Revenue Code Section 457. The plan, available to all City employees, permits them to defer a portion of their salary until future years. Participation in the plan is optional. The deferred compensation is not available to employees until termination, retirement, death or an unforeseeable emergency. NOTE 11. COMMITMENTS AND CONTINGENCIES The City has the following long-term agreements, which represent significant commitments: A. Wholesale Power Agreements On May 21st, 2014, the City settled its lawsuit with the Lower Colorado River Authority (LCRA) that was originally filed in September 2012 regarding its wholesale power agreement (WPA). At that time, Georgetown Utility System (GUS) began to actively manage its energy supply. This settlement ended all future appeals and trials, and cleared the way for the City to secure future power from other sources. Prior to terminating the WPA with LCRA, GUS received almost 90% of its power needs from LCRA, but also had existing contracts with several other suppliers. Beginning on September 13, 2012 GUS began receiving energy from its other suppliers to replace the energy LCRA had planned to serve. GUS also extended its active management of its daily energy supply to cover the larger market exposures, congestion issues, and real time settlements that LCRA previously handled. The City is currently using its long-term wind power arrangement with American Electric Power (AEP), until 2028, and temporary natural gas contracts with Garland Power & Light (GPL) to provide 100% of its power needs in 2015. Beginning in 2016, the City will shift to other energy providers, provided primarily by Energy de France Renewable Energy (EDF-RE) via a 144MW capacity stake in a Texas Panhandle wind farm. The City will supplement that power with natural gas contracts through JP Morgan Energy Ventures Corporation (JPM) from 2016 to 2021, as well as shaping and firming in the ERCOT market. The City has secured 150MWs of a long-term solar power based contract to round out its portfolio, and expects to begin receiving that power in 2017, and continue through 2041. The City expects to be able to maintain low energy rates over the next two decades with these contracts in place. B. Brazos River Authority (BRA) Water Contracts Effective September 1, 2001, the City revised its previous water availability agreements with the BRA to further plan for future water needs and to standardize the pricing to a system-wide rate. The effective system-wide rate for BRA’s fiscal year beginning September 1, 2015 is $70.50 per acre-foot and the City paid a total of $3,090,068 for water during the fiscal year. The City has two separate agreements with the BRA as follows: (1) Lake Georgetown Water – This agreement, effective September 1, 2001 and expiring August 31, 2050, requires BRA to make available to the City 6,720 acre-feet of water per year at BRA’s system wide rate. The City paid $467,600 for water under this agreement for the City’s fiscal year. (2) Lake Stillhouse Hollow Water – This agreement, effective September 1, 2001 and expiring August 31, 2040, requires BRA to make available to the City 38,987 acre-feet of water per year at BRA’s system wide rate. The City paid $2,232,488 for water under this agreement in fiscal year 2015. DRAFT Page 100 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 73 NOTE 11. COMMITMENTS AND CONTINGENCIES – CONTINUED C. Brazos River Authority – Williamson County Regional Raw Water Line Agreement The City is a party to an agreement dated June 30, 1986, with the Brazos River Authority (BRA), City of Round Rock, Jonah Water Special Utility District, and Chisholm Trail Special Utility District (CTSUD). The Brazos River Authority designed, constructed, owns, and operates a pipeline to transport water from Lake Stillhouse Hollow to Lake Georgetown to benefit the parties in the agreement. Total project construction cost for the raw water line was approximately $40 million. In 2007, BRA refunded a portion of the original $89 million in debt, leaving approximately $69 million outstanding debt, including principal and interest. Each participant agreed to pay for the annual cost of debt and operations of the line. The City’s obligation is $50.5 million, including principal and interest, to be repaid annually through 2032. The amount for fiscal year 2015 was $1,548,680. The following schedule reflects the principal portion of the City's obligation: 2016 1,836,398$ 2017 1,835,374 2018 1,834,234 2019 1,818,222 2020-2032 26,549,565 33,873,793$ Year Ending September 30, As part of the CTSUD acquisition that occurred on September 12, 2014, the City assumed the ownership interest and related obligations of CTSUD’s portion of this project. D. Chisholm Trail Special Utility District Service Area Operations and Management Agreement In November 2013, the City began managing the Chisholm Trail Special Utility District awaiting regulatory approval of the merger of CTSUD with the City. On September 12, 2014, the City and CTSUD entered into an Asset Transfer and Utility System Consolidation Agreement in which the City began providing water utility services on behalf of CTSUD. Upon the close of this agreement, all CTSUD’s assets (less $500,000 that was to remain with CTSUD), and all liabilities were transferred to the City, and CTSUD’s outstanding debt was defeased. The Certificate of Convenience Necessity (CCN) for the area served by CTSUD was not transferred to the City as part of this transaction and remains the responsibility of CTSUD. The transfer of the CTSUD CCN to the City was pending regulatory approval. Therefore, in conjunction with this transfer, the City and CTSUD entered into a Service Area Operations and Management Agreement in which the City began providing water utility services on behalf of CTSUD to all customers within the CTSUD CCN. Under this agreement, CTSUD formally adopted the service policies, rates, and fees of the City. The City then bills, collects, and retains water service revenue from CTSUD customers, except for a portion that is remitted to CTSUD Board to offset on-going operational costs. This Agreement is in effect until the CTSUD CCN is transferred. E. Del Webb Corporation (Sun City) The Del Webb Corporation (Del Webb) began development in April 1995 of a proposed 9,500 unit; 5,300 acre active retirement community to be called Sun City Texas. The City, through a Development Agreement, and in exchange for payment of Service Improvement Fees (SIP fee - discussed below) provides fire protection, wastewater, water, and electric service to Sun City. The project is annexed into the City limits as phases of the project are platted. Home sales began in June 1995 and were expected to average 425 homes per year for 20 years. DRAFT Page 101 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 74 NOTE 11. COMMITMENTS AND CONTINGENCIES – CONTINUED E. Del Webb Corporation (Sun City) – Continued In May 2006, the City approved the Eighth Amendment to the Development Agreement with Del Webb. The Eighth Amendment set the build out at 7,500 age-restricted units at Sun City. Additionally, it escalated the payment of “stranded costs” and addressed the water and wastewater capacity needed to serve the 2,500 age restricted units above the 5,000 units originally defined in the Seventh Amendment. The SIP fee for units 5,001 through 7,500 was also set in this agreement at $3,292 per unit. As of September 30, 2015, there were 7,264 units of the total 7,500 units completed. On August 26, 2014, the City approved annexation of two tracts of land totaling over 1,175 acres for the future expansion of Sun City. This expansion will not be subject to the terms and conditions of the Del Webb Development Agreement. Instead, the expansion will occur under traditional development conditions. F. Georgetown Village Public Improvement District In 1999, the City of Georgetown created the Georgetown Village Public Improvement District No. 1, pursuant to Chapter 372 of the Texas Local Government Code. The City is required to construct and provide operation, repair, and maintenance of parks, recreational facilities, alleyways, lighting, landscaping and related improvements to the district that are above the standards that are met elsewhere in the City. Property owners are assessed an annual maintenance assessment of $0.20 per $100 valuation. Assessment revenue of $345,340 was recognized for 2015. As of September 30, 2015, all costs associated with the Georgetown Village Public Improvement District have been reimbursed. G. Cimarron Hills Public Improvement District In May 2000, the City and Paloma Cimarron Hills, L.P. entered into a development agreement for a 606 home, 813 acre subdivision within the City’s Extraterritorial Jurisdiction (ETJ). As part of this agreement, the City created the Cimarron Hills PID to reimburse the developer for costs of certain infrastructure improvements. Each lot within the development is assessed an annual fee based on its type of usage. The City also collects a per unit transportation fee which will be used to fund necessary roadway improvements and bridge crossings in the area. As of September 30, 2015, 291 lots had been sold and 196 homes had been completed for this development. PID assessment collection began in 2002. In 2015, PID assessments were $435,743. The developer was reimbursed $850,015 from current year collections and available fund balance. The assessments and related disbursements are recorded in the Agency Funds. H. Wolf Ranch Towne Center In July 2003, the City approved a development agreement with Simon Properties for the 750,000 sq. ft. Wolf Ranch Towne Center. The project includes Target and 70 other retailers and restaurants. The City’s development agreement with Simon includes a sales tax rebate allowable under Chapter 380 of the Texas Local Government Code. Fifty-three percent of the 1% general operating sales tax revenue generated at the development is rebated to Simon as an economic development incentive. This arrangement continues for 20 years or up to $15 million, which funds the public on-site improvements paid by Simon. As part of the agreement, the City provided utility improvements to the site, as well as, funded $10.5 million of highway improvements for the project. The $10.5 million was funded with debt to be repaid by Georgetown Transportation Enhancement Corporation (GTEC). Improvements to SH 29, as well as, provide the frontage road for IH-35 were constructed as part of this project. As of September 30, 2013, $10,555,000 of GTEC debt had been issued for this project. GTEC collects ½ of 1% sales tax, therefore, per the agreement, all related debt service for the GTEC issued bonds, were to be funded with 53% of GTEC (½%) of sales tax generated within the project. DRAFT Page 102 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 75 NOTE 11. COMMITMENTS AND CONTINGENCIES – CONTINUED I. Wolf Ranch Public Improvement District (PID) In June 2004, the City created Wolf Ranch Public Improvement District (PID) that included all property owned by Simon within the Wolf Ranch development at that time. The purpose of the PID was to provide a backstop for the City. In the event that revenues from the project were insufficient to fund any outstanding debt related to the project, an assessment would be levied against the property in the PID to protect the City from potential revenue shortfalls. Should revenues meet or exceed expectations, no assessment is made. If revenues did not meet expectations, an assessment was made. Any accrued assessment was charged 10% interest until paid. Since inception, the development has not generated enough in GTEC revenues to fund the GTEC debt service requirements under the Agreement. Therefore, an assessment was levied and related interest charges accrued. As a practical matter, the sales tax rebate due to Simon under the 380 agreement is netted against the PID assessment payable. As of September 30, 2015, the balance due from Simon to the PID is $842,974, of which $255,575 is interest. In addition, the PID has a $587,298 obligation to the General Fund for the 1st year assessment, when the General Fund transferred cash to GTEC to fund the Wolf Ranch debt service. J. Citigroup, NA, Inc. In November 2006, the City entered into a 10-year tax abatement agreement with Citigroup, NA, Inc., who constructed a $475 million data center within the City. The abatement began in tax year 2009 (fiscal year 2008/09). The Georgetown Economic Development Corporation (GEDCO) also entered into an agreement with Citicorp, NA to fund $1.3 million of offsite wastewater improvements as an incentive for the creation of 50 jobs. The amount of the abatement for tax year 2015 (fiscal year 2014/15) is $146.5 million of appraised market value. K. Williams Drive Tax Increment Reinvestment Zone (TIRZ) This was established in November 2006 to fund improvements needed for redevelopment of the Williams Drive gateway area. A master plan for the area was developed in 2006, with implementation planned for future years. As of September 30, 2015, $94,796 has been collected, with no proceeds invested in projects. L. Downtown Tax Increment Reinvestment Zone (TIRZ) This was established in 2004 to fund improvements in the downtown overlay district to assist in funding the downtown master plan. As of September 30, 2015, $991,262 of taxes and interest earnings has been collected, of which $921,524 had been invested in designated and approved projects within the zone. M. Rivery Park Tax Increment Reinvestment Zone (TIRZ) This was established in 2008 to fund a convention center/hotel complex, as well as, an expansion to Rivery Park. The City and Williamson County agreed to reimburse up to $25 million for the project. The City will contribute 100% and Williamson County will contribute 80% of their respective property tax valuation increase generated at the 32-acre site to fund the project. The City will remit half of the 1% City sales tax generated at the site to Williamson County as reimbursement. As of September 30, 2015, $94,870 has been collected with no proceeds invested in projects. DRAFT Page 103 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 76 NOTE 11. COMMITMENTS AND CONTINGENCIES – CONTINUED M. Rivery Park Tax Increment Reinvestment Zone (TIRZ) – Continued In January 2014, the City entered into agreements for a 220-room Sheraton hotel and conference center at the 32-acre Rivery site for the development of the Summit at Rivery Park (Rivery) project. This project will include a 16,000 square-foot conference center that can accommodate up to 4,500 people and include a public parking garage. Plans for the project include future phases with retail stores, restaurant sites, single- family homes, and multifamily residences for a total project investment of $150 million including $65 million for the hotel, conference center, and parking garage. Private investors will fund most of the project costs. A total of $16.8 million in future City and County property taxes generated at the site will be used to reimburse the City and the developer for the cost of the hotel and conference center, parking garage, and other public improvements. This includes $12.5 million of investments by the City and its related entities including GEDCO and GTEC. In December 2014, the city council extended the construction and completion dates for the various development agreements for the project. Ground breaking occurred in February 2015, with an expected completion date of June 2016, opening July 2016. N. South Georgetown Tax Increment Reinvestment Zone (TIRZ) In June 2014, the City created the South Georgetown TIRZ on 595 undeveloped acres along Westinghouse Road near IH35 to accelerate and ensure quality development and job creation in the area. This project abuts the high-growth corridor in neighboring Round Rock. The City intends to use this TIRZ to proactively build infrastructure, including sewer and road improvements, using future TIRZ revenues to reimburse the City for the costs of these improvements. The TIRZ is expected to fund up to $50 million of public improvements through December 2044, with an estimated future assessed valuation within the TIRZ in excess of $573 million. The City is currently in negotiations with landowners and developers in the area to facilitate and leverage the TIRZ improvements to ensure the success of the project. Property tax revenue from any incremental value created since 2014 will be assigned to the TIRZ beginning in 2015. O. Chapter 552 Infrastructure Financing Reimbursement Agreement In August 2014, the City entered into a Chapter 552 Infrastructure Financing/Reimbursement Agreement for the Hillwood Wolf Ranch Development Project. This agreement is one of several associated with this project which included the City’s consent to the creation of an In-City Municipal Utility District (MUD) to finance the costs of various improvements. This Chapter 552 agreement, allowable under Chapter 552 of the Local Government Code, facilitates the reimbursement of up to $25 million to the MUD for construction of specified public improvements within the Hillwood Wolf Ranch development. The annual repayment amount is funded from City ad valorem tax revenues received by the City for property within the MUD at a rate of $0.15/per $100 assessed valuation. The terms of this Chapter 552 Agreement continue until dissolution of the MUD or the date on which the City pays the maximum reimbursement amount of $25 million, whichever occurs first. P. Garey Park Trust In June 2014, the City entered into a memorandum of understanding (MOU) whereby Alan Jack Garey donated his 525-acre ranch and home, on the conditions that the property shall be used exclusively as a public park and recreational facility for the benefit of all residents of the City of Georgetown and surrounding areas. The Garey’s deeded 321.45 acres of land to the Texas Parks and Recreation Foundation, in trust for the benefit of the City. The City has an approved lease and agreement with Texas Parks and Recreation Foundation concerning these 321.45 acres. The final 206.57 acres of land, and the house, was deeded to the City. In January 2016, the City entered into the final amendment to the MOU. Construction on the park is scheduled to begin in September 2016. DRAFT Page 104 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 77 NOTE 11. COMMITMENTS AND CONTINGENCIES – CONTINUED Q. Grants Amounts received or receivable from grantor agencies, principally the federal government, are subject to audit and adjustment by the agencies. Any disallowed claims, including amounts already collected, may constitute a liability of the applicable funds. The amount, if any, of expenditures which may be disallowed by the grantor cannot be determined at this time, although the City expects such amounts, if any, to be immaterial. R. Litigation The City is involved in various legal actions in which claims of varying amounts are being asserted against the City. The City follows the practice of providing for these claims only when they become probable and reasonably determinable in amount. In the opinion of City management, these actions will not result in a significant change in the City's financial position. S. Construction Contracts Estimated costs to complete significant construction projects in progress at year-end totaled approximately $1,563,000 for Governmental Funds and approximately $1,775,000 for Enterprise Funds. NOTE 12. FINANCIAL HEDGING In an effort to mitigate the financial and market risk associated with the purchase of natural gas, energy, and congestion price volatility, the City has established a Risk Management Policy. This policy was authorized by the City Council and is led by the Georgetown Utility Services Board. Under this policy, the City enters into forward contracts for natural gas, swaps, and congestion rights for the purpose of reducing exposure to natural gas, energy, and congestion price risk. Use of these types of instruments for the purpose of reducing exposure to price risk is performed as a hedging activity. At September 30, 2015, the City had multiple outstanding contracts, with wholesale customers to provide power supply and/or qualified scheduling entity services. For the power supply customers, the City charges an energy charge which is based on the quantity of power supplied multiplied by a fixed price, or multiplied by a fixed heat rate and a fuel index price. In order to hedge the City’s risk, the City has entered into corresponding power supply agreements with counterparties to hedge against energy price or heat rate fluctuation in the market. These contracts meet the definition of a derivative instrument as defined by GASB Statement No. 53, Accounting and Reporting for Derivative Instruments (GASB 53). However, these contracts meet the normal purchases and sales exemption of GASB 53 as the City intends to use the physical commodity in its normal utility operations to supply energy to its customers. Accordingly, these contracts are not within the scope of GASB 53 and are not recorded on the City’s Statement of Net Position. At September 30, 2015, the City does maintain a $1 million Letter of Credit at the Electric Reliability Council of Texas (ERCOT) in lieu of maintaining an unsecured deposit with that agency to comply with fiscal surety requirements. The City had $9.5 million cash on deposit with JPMorgan Ventures Energy Corporation for future electric system fuel options. Risks Credit Risk. The City’s over-the-counter agreements for natural gas and energy expose the City to credit risk. In the event of default, the City’s operations will not be materially affected. However, the City does not expect the counterparties to fail to meet their obligations. The City maintains contracts with contractual provisions under the EEI (Edison Electric Institute) and EPC (Energy Procurement Contract) agreements. DRAFT Page 105 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 78 NOTE 12. FINANCIAL HEDGING – CONTINUED Risks – Continued Termination Risk. Termination risk is the risk that a derivative will terminate prior to its scheduled maturity date due to a contractual event. Contractual events include illegality, tax and credit events upon merger and other events. The City’s exposure to termination risk for over-the counter agreements is minimal due to the high credit rating of the counterparties, and the contractual provisions under the EEI and EPC agreements applied to these contracts. Termination risk is associated with all of the City’s derivatives up to their fair value of the instrument. Netting Arrangements. The City enters into netting arrangements whenever it has entered into more than one derivative transaction with counterparty. Under the terms of these arrangements, should one party become insolvent or otherwise default on its obligations, close-out netting provisions permit the non- defaulting party to accelerate and terminate all outstanding transactions and net the transaction’s fair values so that a single sum will be owed by or owed to the non-defaulting party. NOTE 13. RESTATEMENT OF BEGINNING NET POSITION Net position as of September 30, 2014 has been restated to reflect the impact of the City’s implementation of GASB Statements Nos. 68 and 71, as well as to record the capitalization of personnel and operation of expense in relation to an electric system valuation performed by McCord Engineering that was not previously recognized. The impact of the restatement on relevant reporting units is as follows: Nonmajor Governmental Electric Water Services Enterprise Activities Fund Fund Funds Total Net position, as previously reported 245,531,853$ 72,443,921$ 241,683,522$ 31,017,005$ 590,676,301$ Implementation of new accounting standards (7,256,859) (963,697) (766,021) (147,198) (9,133,775) Recognition of previously unrecognized costs - 15,322,079 - - 15,322,079 Net position, as restated 238,274,994$ 86,802,303$ 240,917,501$ 30,869,807$ 596,864,605$ NOTE 14. SUBSEQUENT EVENTS A. In November 2015, the City issued General Obligation Bonds, Series 2015A, in the amount of $11,785,000. This is the third bond issue related to the November 2008 authorization of $35.5 million for Park and Recreational projects and the first bond issue related to the May 2015 authorization of $105 million for road projects. Parks projects total $1,712,750 and road projects total $10,072,250. B. In November 2015, the City secured a Letter of Credit for $18 million to replace the $9.5 million cash on deposit with JPMorgan Ventures Energy Corporation for collateral on our future electric system fuel options. C. In December 2015, the Public Utility Commission of Texas voted in a unanimous ruling to approve the transfer of the service area of the Chisholm Trail Special Utility District (CTSUD) to the City of Georgetown. The transfer of the certificate of convenience and necessity (CCN) to the City means that the City water utility has the authority and obligation to serve water customers in the former CTSUD service area. DRAFT Page 106 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO FINANCIAL STATEMENTS 79 NOTE 14. SUBSEQUENT EVENTS – CONTINUED D. Pursuant to TMRS policy of conducting experience studies every four years, the TMRS Board at their July 31, 2015 meeting determined that they would be changing certain actuarial assumptions including reducing the long term expected rate of return from the current 7% to 6.75% and changing the inflation assumption from 3% to 2.5%. Reduction of expected investment return and related discount rate will increase projected pension liabilities. Reducing the inflation assumption reduces liabilities as future annuity levels and future cost of living adjustments are not projected to be as large as originally projected. While the actual impact on the City’s valuation for December 31, 2015 is not known, the City does expect some downward pressure on its funded status and upward pressure on its 2017 actuarially determined contribution (ADC) due to this change. Accordingly, the city has included in its approved fiscal year 2016 budget to continue to fund pension contributions above the required ADC which will help smooth impacts of any increases in the required ADC for fiscal year 2017. NOTE 15. FUTURE FINANCIAL REPORTING REQUIREMENTS The GASB has issued the following statements which will become effective in future years. Statement No. 75, “Accounting and Financial Reporting for Postemployment Benefits Other Than Pensions” – This statement changes the focus of accounting of postemployment benefits other than pensions from whether they are responsibility funding the benefits over time to a point-in-time liability that is reflected on the employer’s financial statements for any actuarially unfunded portion of benefits earned to date. This statement will become effective for the City in fiscal year 2018. Statement No. 77, “Tax Abatement Disclosures” – This statement requires governments that enter into tax abatement agreements to provide certain disclosures regarding these commitments. This statement will become effective for the City in fiscal year 2017. DRAFT Page 107 of 231 CITY OF GEORGETOWN, TEXAS REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30, 2015 80 Texas Municipal Retirement System – Schedule of Changes in Net Position Liability and Related Ratios Measurement Year 2014 Total pension liability: Service cost 4,549,949$ Interest 6,747,717 Changes of benefit terms - and actual experience 71,207 Change in assumptions - of employee contributions (2,652,717) Net change in total pension liability 8,716,156 Total pension liability - beginning 95,447,335 Total pension liability - ending (a)104,163,491$ Plan fiduciary net position: Contributions - employer 3,800,520$ Contributions - employee 2,256,459 Net investment income 4,694,918 Benefit payments, including refunds of employee contributions (2,652,717) Administrative expense (49,007) Other (4,029) Net change in plan fiduciary net position 8,046,144 Plan fiduciary net position - beginning 82,052,653 Plan fiduciary net position - ending (b)90,098,797 Net pension liability - ending (a) - (b)14,064,694$ Plan fiduciary net position as a percentage of total pension liability 86.50% Covered employee payroll 32,235,133$ Net pension liability as a percentage of covered employee payroll 43.63% DRAFT Page 108 of 231 CITY OF GEORGETOWN, TEXAS REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30, 2015 (CONTINUED) 81 Texas Municipal Retirement System – Schedule of Changes in Net Position Liability and Related Ratios – Continued Notes to Schedule: Valuation Date: Actuarial determined contribution rates are calculated as of December 31st each year and become effective in January, 12 months and a day later. Methods and Assumptions Used to Determine Contribution Rates: Actuarial Cost Method Entry Age Normal Amortization Method Level Percentage of Payroll, Closed Remaining Amortization Period 15 years Asset Valuation Method Inflation + 3.00% 10 year smoothed market, 15.00% soft corridor Salary Increases 3.50% to 12.00%, including inflation Investment Rate of Return 7.00% Retirement Age Experience-based table of rates that are specific to the City's plan of benefits. Last updated for the 2010 valuation pursuant to an experience study of the period 2005 – 2009. Mortality Adjustment with male rates multiplied by 109% and female rates multiplied by 103% and projected on a fully generational basis with scale BB. There were no benefit changes during the year. Other Post-Employment Benefits Actuarial Actuarial Percentage Valuation Actuarial Actuarial Accrued Annual of UAAL as of Value of Accrued Liability Funded Covered for Covered December 31,Assets Liability (UAAL)Ratio Payroll Payroll 2013 -$ 978,491$ 978,491$ 0% 27,392,533$ 4% 2014 - 1,615,808 1,615,808 0% 30,136,850 5% 2015 - 1,615,808 1,615,808 0% 32,235,133 5% Source: Gabriel Roeder Smith & Company, Actuarial Valuation Report Notes: (1) Actuarial accrued liabilities for year end 2012 and 2013 are based on a December 31, 2011 study. Actuarial accrued liabilities for year end 2014 are based on a December 31, 2013 study. DRAFT Page 109 of 231 CITY OF GEORGETOWN, TEXAS REQUIRED SUPPLEMENTARY INFORMATION YEAR ENDED SEPTEMBER 30, 2015 (CONTINUED) 82 Modified Approach for Streets Infrastructure Capital Assets GASB Statement 34 allows the City to use the Modified Approach with respect to infrastructure assets instead of depreciating these assets. The City Council adopted an average PCI level of 85, which is considered “good” condition for a street. The City’s system for reporting assets is fully discussed in Note 1(m) of the notes. The following is additional information for the City’s streets infrastructure for fiscal year 2015. This information is updated every three years and comparative data is included. PCI Rating by Functional Class 2005-2007 2008-2010 2011-2013 2014-2015 Arterial 91.91 93.00 89.70 90.00 Collector 88.38 93.75 86.30 86.10 Local 91.00 92.70 87.50 86.50 Overall Network 90.87 93.00 87.70 87.30 Condition Rating Summary Center % of Line % of Condition Rating Segments Segments Miles Segments Very Good 90-100 2,020 55.5% 154.1 51.6% Good 80-90 849 23.3% 76.5 25.6% Fair 45-80 689 18.9% 60.7 20.3% Poor < 45 84 2.3%7.3 2.4% 3,642 100.0% 298.6 100.0% Notes: [a] Center line miles will vary from the total number of center line due to street segments that were omitted from the survey. Street segments that were either scheduled or currently receiving maintenance were omitted from the street survey. Fiscal Year Ending September 30,2015 2014 2013 2012 2011 2010 Estimated Maintenance Cost 3,570,000$ 2,163,000$ 2,768,631$ 3,448,359$ 3,350,973$ 3,643,734$ Budgeted Maintenance Cost 4,811,850 4,886,030 3,579,410 3,484,079 3,078,770 3,623,688 Actual Maintenance Cost 4,106,996 4,434,244 3,553,226 3,170,741 3,269,757 2,905,769 Costs to Maintain System at Designated Level DRAFT Page 110 of 231 COMBINING AND INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES NONMAJOR GOVERNMENTAL FUNDS 83 Special Revenue Funds Special Revenue Funds are used to account for specific revenues that are legally restricted for expenditures for particular purposes. Conservation - to account for the Energy Conservation Fee that is charged to Electric customers. This fee is used for the enactment of House Bill 3693 to address the issue of peak demand by initiating energy efficiency initiatives and conservation strategies. The funds collected will be used for a weatherization program and solar water heating program. Court Fees - to account for the receipt and expenditure of court fees that are legally restricted for court security and technology. Development - to account for the receipt of private donations, grants, and money raised through special events to provide assistance to building/property owners for maintaining the appearance of the downtown historic district. Funds are distributed through an application/approval process with either a low-interest loan or grant; and to account for the receipt and expenditure of revenues from building proceeds to further develop downtown structures. Fire - to account for the receipt and expenditures of funds received by the City for various fire services, including calls for service, donations, abandoned vehicle revenue and inspections and to account for the receipt and expenditures of the EMS program. Library Restricted - to account for the receipt and expenditure of restricted donations such as memorials and gifts for a designated library purchase or program. Also accounts for the receipt of the Texas State Library grant for librarian salaries and books. Parks - to account for revenues earned by the City from activities on City park land, which are restricted for improvements to park land and for park land dedication fees paid by developers, which are restricted by zones for new parks. . PEG Fee - to account for the receipt and expenditure of PEG fees that are legally restricted for capital expenditures related to the City's cable access channel. Police - to account for a Texas Department of Transportation grant for a Selective Traffic Enforcement Project (STEP) related to overtime costs and the receipt and expenditure of seized donated funds. Public Improvement Districts - to account for the receipts and expenditures of the revenues collected from property assessments related to the Georgetown Village and Wolf Ranch Public Improvement Districts. Streets Sales Tax - to account for the receipt and expenditure of revenues collected from the ¼ cent sales tax approved by the citizens in November 2001 under Texas House Bill 445. The funds are required to be spent on maintenance of streets that were in existence at the time of adoption of the tax. Tax Increment Reinvestment Zones (TIRZ) - to account for public improvements within an area that will generate private-sector development. The tax base is frozen at a predevelopment level and the increases in taxes derived from increases in assessed valuations are to retire bonds originally issued for the development or to leverage future growth in the assigned areas. Tourism - to account for the receipt and expenditure of funds received by the City from the assessment of hotel and motel occupancy tax. Usage of funds is restricted to promotion of tourism and arts within the City. DRAFT Page 111 of 231 CITY OF GEORGETOWN, TEXAS COMBINING BALANCE SHEET NONMAJOR GOVERNMENTAL FUNDS AS OF SEPTEMBER 30, 2015 84 Development Parks ASSETS Cash and cash equivalents 369,503$ 23,706$ 242,659$ 32,603$ 23,767$ 727,273$ Investments 510,267 32,738 335,101 154,998 32,821 1,004,329 Accounts receivable Tax - - - - - - Grants - - 16,906 - - - Other - - - - - 2,265 TOTAL ASSETS 879,770$ 56,444$ 594,666$ 187,601$ 56,588$ 1,733,867$ LIABILITIES AND FUND BALANCE Liabilities Accounts payable -$ 8,128$ 75,580$ 86,183$ 4,426$ 55,407$ Due to other funds - - 16,559 764,953 - - Unearned revenue - - - - - - Total liabilities - 8,128 92,139 851,136 4,426 55,407 Restricted - 48,316 - - - - Committed 879,770 - 502,527 - 52,162 1,678,460 Unassigned - - - (663,535) - - Total fund balance 879,770 48,316 502,527 (663,535) 52,162 1,678,460 TOTAL LIABILITIES AND FUND BALANCE 879,770$ 56,444$ 594,666$ 187,601$ 56,588$ 1,733,867$ Conservation Court Fees Fire Library Restricted DRAFT Page 112 of 231 85 PEG Fees Police Street Tax Tourism Total 51,166$ 121,700$ 261,455$ 1,021,567$ 110,210$ 229,873$ 3,215,482$ 70,658 168,062 361,057 1,410,736 152,194 317,444 4,550,405 36,943 - 869 430,641 - 69,721 538,174 - 127,761 - - - - 144,667 - - 842,975 - - - 845,240 158,767$ 417,523$ 1,466,356$ 2,862,944$ 262,404$ 617,038$ 9,293,968$ 56,639$ 5,440$ 6,284$ 328,288$ 6,800$ 30,786$ 663,961$ - - 587,299 - - - 1,368,811 - - 256,545 - - 42,000 298,545 56,639 5,440 850,128 328,288 6,800 72,786 2,331,317 102,128 193,991 - 2,534,656 - 544,252 3,423,343 - 218,092 616,228 - 255,604 - 4,202,843 - - - - - - (663,535) 102,128 412,083 616,228 2,534,656 255,604 544,252 6,962,651 158,767$ 417,523$ 1,466,356$ 2,862,944$ 262,404$ 617,038$ 9,293,968$ Tax Increment Reinvestment Zones Public Improvement Districts DRAFT Page 113 of 231 CITY OF GEORGETOWN, TEXAS COMBINING STATEMENT OF REVENUES, EXPENDITURES, AND CHANGES IN FUND BALANCE NONMAJOR GOVERNMENTAL FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 86 Conservation Court Fees Development Fire Library Restricted Parks REVENUES Grants and entitlements -$ -$ 135,286$ 51,523$ -$ -$ Hotel/Motel tax - - - - - - Property assessments - - - - - - Sales tax - - - - - - Court fees - 56,933 - - - - Investment earnings 2,797 183 2,600 8 234 5,621 Donations - - - - 92,189 234,320 Fire incident billings - - - 114,852 - - Other 276,938 - 165,138 8,925 - 220,281 Total revenues 279,735 57,116 303,024 175,308 92,423 460,222 EXPENDITURES Culture - recreation - - - - 88,589 143,736 Development - - 173,330 - - - Environmental services 90,536 - - - - - Fire services - - - 918,538 - - Highways and streets - - - - - - Police - 65,303 - - - - Capital outlay - - 705,495 - - 3 14,625 Total expenditures 90,536 65,303 878,825 918,538 88,589 458,361 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 189,199 (8,187) (575,801) (743,230) 3,834 1,861 OTHER FINANCING SOURCES (USES) Transfers in - 34,056 45,000 450,000 - 225,000 Transfers out - (10,000) - (382,000) - - Total other financing sources (uses) - 24,056 45,000 68,000 - 225,000 NET CHANGE IN FUND BALANCE 189,199 15,869 (530,801) (675,230) 3,834 226,861 FUND BALANCES, beginning of period 690,571 32,447 1,033,328 11,695 48,328 1,451,599 FUND BALANCES, end of period 879,770$ 48,316$ 502,527$ (663,535)$ 52,162$ 1,678,460$ DRAFT Page 114 of 231 87 PEG Fees Police Public Improvement Districts Street Tax Tax Increment Reinvestment Zones Tourism Total -$ 3,527$ -$ -$ -$ -$ 190,336$ - - - - - 711,060 711,060 - - 835,255 - 247,210 - 1,082,465 - - - 2,623,106 - - 2,623,106 - - - - - - 56,933 366 1,124 3,196 10,657 518 1,755 29,059 - 24,398 - - - - 350,907 - - - - - - 114,852 147,468 76,577 17 - - 96,968 992,312 147,834 105,626 838,468 2,633,763 247,728 809,783 6,151,030 171,371 - 170,455 - - 717,509 1,291,660 - - - - - - 173,330 - - - - - - 90,536 - - - - - - 918,538 - - - 2,407,047 - - 2,407,047 - 46,102 - - - - 111,405 - - - - - - 1,020,120 171,371 46,102 170,455 2,407,047 - 717,509 6,012,636 (23,537) 59,524 668,013 226,716 247,728 92,274 138,394 - 2,295 - - - 3,710 760,061 - - (489,915) (466,000) (172,000) (130,850) (1,650,765) - 2,295 (489,915) (466,000) (172,000) (127,140) (890,704) (23,537) 61,819 178,098 (239,284) 75,728 (34,866) (752,310) 125,665 350,264 438,130 2,773,940 179,876 579,118 7,714,961 102,128$ 412,083$ 616,228$ 2,534,656$ 255,604$ 544,252$ 6,962,651$ DRAFT Page 115 of 231 CITY OF GEORGETOWN, TEXAS CONSERVATION SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 88 REVENUES Investment earnings 2,000$ 2,797$ 797$ Conservation revenue 264,000 276,938 12,938 Total revenues 266,000 279,735 13,735 EXPENDITURES Operations 291,650 89,404 202,246 Capital outlay 77,600 - 77,600 Total expenditures 369,250 89,404 279,846 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (103,250) 190,331 293,581 FUND BALANCE, beginning of period 103,250 657,999 554,749 FUND BALANCE - BUDGETARY BASIS, end of period -$ 848,330 848,330$ Adjustments to GAAP Reverse current year encumbrances 31,440 FUND BALANCE - GAAP BASIS, end of period 879,770$ VARIANCE TO BUDGET ACTUAL BUDGETARY BASIS ORIGINAL AND FINAL BUDGET DRAFT Page 116 of 231 CITY OF GEORGETOWN, TEXAS COURT FEES SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 89 ACTUAL ORIGINAL BUDGETARY VARIANCE BUDGET BASIS TO BUDGET REVENUES Court fees 78,500$ 78,500$ 56,933$ (21,567)$ Investment earnings 500 500 183 (317) Total revenues 79,000 79,000 57,116 (21,884) EXPENDITURES Personnel 62,719 64,389 64,385 4 Operations 67,864 67,864 1,067 66,797 Total expenditures 130,583 132,253 65,452 66,801 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (51,583) (53,253) (8,336) 44,917 OTHER FINANCING SOURCES (USES) Operating transfers in 32,386 34,056 34,056 - Transfers out (20,000) (20,000) (10,000) 10,000 Total other financing sources (uses) 12,386 14,056 24,056 10,000 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES (USES) - BUDGETARY BASIS (39,197) (39,197) 15,720 54,917 FUND BALANCE, beginning of period - - 32,447 23,464 FUND BALANCE - BUDGETARY BASIS, end of period -$ -$ 48,167 48,167$ Adjustments to GAAP Reverse current year encumbrances 149 FUND BALANCE - GAAP BASIS, end of period 48,316$ FINAL BUDGET DRAFT Page 117 of 231 CITY OF GEORGETOWN, TEXAS DEVELOPMENT SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 90 ACTUAL BUDGETARY BASIS REVENUES Grants and entitlements 175,580$ 175,580$ 135,286$ (40,294)$ Investment earnings 450 450 2,600 2,150 Technology fee 70,000 70,000 83,995 13,995 Other 71,000 71,000 81,143 10,143 Total revenues 317,030 317,030 303,024 (14,006) EXPENDITURES Operations 206,693 206,693 174,842 31,851 Capital outlay 180,088 678,088 607,416 70,672 Total expenditures 386,781 884,781 782,258 102,523 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (69,751) (567,751) (479,234) 88,517 OTHER FINANCING SOURCES (USES) Transfers in 45,000 45,000 45,000 - Total other financing sources (uses) 45,000 45,000 45,000 - EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES (USES) - BUDGETARY BASIS (24,751) (522,751) (434,234) 88,517 FUND BALANCE, beginning of period 24,751 522,751 558,442 (35,691) FUND BALANCE - BUDGETARY BASIS, end of period -$ -$ 124,208 124,208$ Adjustments to GAAP Reverse Crossyear POs 45,357 Reverse current year encumbrances 332,962 FUND BALANCE - GAAP BASIS, end of period 502,527$ ORIGINAL BUDGET FINAL BUDGET VARIANCE TO ACTUAL DRAFT Page 118 of 231 CITY OF GEORGETOWN, TEXAS FIRE SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) - RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 91 ACTUAL BUDGETARY BASIS REVENUES Grants and entitlements 48,607$ 48,607$ 51,523$ 2,916$ Investment earnings 750 750 8 (742) Paramedic revenue 118,000 118,000 - (118,000) Other 730,000 730,000 123,777 (606,223) Total revenues 897,357 897,357 175,308 (722,049) EXPENDITURES Personnel 679,186 804,186 499,903 304,283 Operations 452,666 547,666 426,827 120,839 Capital outlay 27,000 523,000 27,140 495,860 Total expenditures 1,158,852 1,874,852 953,870 920,982 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (261,495) (977,495) (778,562) 198,933 OTHER FINANCING SOURCES (USES) Transfers in - 450,000 450,000 - Transfers out (382,000) (382,000)(382,000) - Total other financing sources (uses) (382,000) 68,000 68,000 - EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES - BUDGETARY BASIS (643,495) (909,495) (710,562) 198,933 FUND BALANCE, beginning of period 73,611 339,611 5,740 (333,871) FUND BALANCE - BUDGETARY BASIS, end of period (569,884)$ (569,884)$ (704,822) (134,938)$ Adjustments to GAAP Reverse crossyear POs 170 Reverse current year encumbrances 41,117 FUND BALANCE - GAAP BASIS, end of period (663,535)$ ORIGINAL BUDGET FINAL BUDGET VARIANCE TO ACTUAL DRAFT Page 119 of 231 CITY OF GEORGETOWN, TEXAS LIBRARY RESTRICTED SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 92 REVENUES Investment earnings 200$ 200$ 234$ 34$ Donations 60,000 60,000 92,189 32,189 Total revenues 60,200 60,200 92,423 32,223 EXPENDITURES Personnel - 2,500 2,500 - Operations 135,042 132,542 86,115 46,427 Capital - - 17 (17) Total expenditures 135,042 135,042 88,632 46,410 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (74,842) (74,842) 3,791 78,633 FUND BALANCE, Beginning of period 74,842 74,842 48,188 (26,654) FUND BALANCE - BUDGETARY BASIS, end of period -$ -$ 51,979 51,979$ Adjustments to GAAP Reverse crossyear POs 140 Reverse current year encumbrances 43 FUND BALANCE - GAAP BASIS, end of period 52,162$ ORIGINAL BUDGET ACTUAL BUDGETARY BASIS VARIANCE TO ACTUAL FINAL BUDGET DRAFT Page 120 of 231 CITY OF GEORGETOWN, TEXAS PARKS SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 93 REVENUES Investment earnings 3,000$ 3,000$ 5,621$ 2,621$ Donations 22,000 22,000 234,320 212,320 Other 268,250 268,250 220,280 (47,970) Total revenues 293,250 293,250 460,221 166,971 EXPENDITURES Operations 301,710 301,710 153,969 147,741 Capital outlay 700,900 934,900 351,880 583,020 Total expenditures 1,002,610 1,236,610 505,849 730,761 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (709,360) (943,360) (45,628) 897,732 OTHER FINANCING SOURCES Transfers in 75,000 75,000 225,000 150,000 Total other financing sources 75,000 75,000 225,000 150,000 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES - BUDGETARY BASIS (634,360) (868,360) 179,372 1,047,732 FUND BALANCE, beginning of period 895,960 1,129,960 1,403,991 274,031 FUND BALANCE - BUDGETARY BASIS, end of period 261,600$ 261,600$ 1,583,363 1,321,763$ Adjustments to GAAP Reverse crossyear POs 4,000 Reverse current year encumbrances 91,097 FUND BALANCE - GAAP BASIS, end of period 1,678,460$ FINAL BUDGET ACTUAL BUDGETARY BASIS ORIGINAL BUDGET VARIANCE TO ACTUAL DRAFT Page 121 of 231 CITY OF GEORGETOWN, TEXAS PEG FEES SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 94 REVENUES Investment earnings 150$ 366$ 216$ Other 140,000 147,468 7,468 Total revenues 140,150 147,834 7,684 EXPENDITURES Capital outlay 207,843 112,826 95,017 Total expenditures 207,843 112,826 95,017 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (67,693) 35,008 102,701 FUND BALANCE, beginning of period 67,693 61,431 (6,262) FUND BALANCE - BUDGETARY BASIS, end of period -$ 96,439 96,439$ Adjustments to GAAP Reverse current year encumbrances 5,689 FUND BALANCE - GAAP BASIS, end of period 102,128$ VARIANCE TO BUDGET ACTUAL BUDGETARY BASIS ORIGINAL AND FINAL BUDGET DRAFT Page 122 of 231 CITY OF GEORGETOWN, TEXAS POLICE SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 95 ORIGINAL BUDGET FINAL BUDGET ACTUAL BUDGETARY BASIS VARIANCE TO BUDGET REVENUES Grants and entitlements -$ -$ 3,527$ 3,527$ Investment earnings 770 770 1,124 354 Donations 26,000 26,000 24,398 (1,602) Other 58,687 58,687 76,577 17,890 Total revenues 85,457 85,457 105,626 20,169 EXPENDITURES Personnel - 4,491 4,491 - Operations 178,669 174,178 10,851 163,327 Capital outlay 108,864 108,864 22,649 86,215 Total expenditures 287,533 287,533 37,991 249,542 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (202,076) (202,076) 67,635 269,711 OTHER FINANCING SOURCES Transfers in - - 2,295 2,295 Total other financing sources - - 2,295 2,295 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES - BUDGETARY BASIS (202,076) (202,076) 69,930 272,006 FUND BALANCE, beginning of period 202,076 202,076 340,732 138,656 FUND BALANCE - BUDGETARY BASIS, end of period -$ -$ 410,662 410,662$ Adjustments to GAAP Reverse crossyear POs 21 Reverse current year encumbrances 1,400 FUND BALANCE - GAAP BASIS, end of period 412,083$ DRAFT Page 123 of 231 CITY OF GEORGETOWN, TEXAS PUBLIC IMPROVEMENT DISTRICTS SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) - BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 96 ORIGINAL BUDGET FINAL BUDGET ACTUAL BUDGETARY BASIS VARIANCE TO BUDGET REVENUES Property assessments 346,450$ 836,370$ 835,255$ (1,115)$ Investment earnings - - 3,196 3,196 Other - - 17 17 Total revenues 346,450 836,370 838,468 2,098 EXPENDITURES Operations 346,450 346,450 171,412 175,038 Total expenditures 346,450 346,450 171,412 175,038 EXCESS OF REVENUES OVER EXPENDITURES - 489,920 667,056 177,136 OTHER FINANCING SOURCES (USES) Transfers out - (489,920) (489,915) 5 Total other financing sources (uses) - (489,920) (489,915) 5 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING (USES) - BUDGETARY BASIS - - 177,141 177,141 FUND BALANCE, beginning of period - - 437,944 437,944 FUND BALANCE - BUDGETARY BASIS, end of period -$ -$ 615,085 615,085$ Adjustments to GAAP Reverse crossyear POs 186 Reverse current year encumbrances 957 FUND BALANCE - GAAP BASIS, end of period 616,228$ DRAFT Page 124 of 231 CITY OF GEORGETOWN, TEXAS STREET TAX SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 97 ORIGINAL BUDGET FINAL BUDGET ACTUAL BUDGETARY BASIS VARIANCE TO BUDGET REVENUES Sales tax 2,745,750$ 2,745,750$ 2,623,106$ (122,644)$ Investment earnings 10,000 10,000 10,657 657 Total revenues 2,755,750 2,755,750 2,633,763 (121,987) EXPENDITURES Operating 400 56,000 55,997 3 Capital outlay 2,050,000 2,254,800 2,254,792 8 Total expenditures 2,050,400 2,310,800 2,310,789 11 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 705,350 444,950 322,974 (121,976) OTHER FINANCING USES Transfers out (466,000) (466,000) (466,000) - Total other financing uses (466,000) (466,000) (466,000) - EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING (USES) - BUDGETARY BASIS 239,350 (21,050) (143,026) (121,976) FUND BALANCE, beginning of period 3,314,470 3,574,870 2,035,520 (1,539,350) FUND BALANCE - BUDGETARY BASIS, end of period 3,553,820$ 3,553,820$ 1,892,494 (1,661,326)$ Adjustments to GAAP Reverse crossyear POs 304,586 Reverse current year encumbrances 337,576 FUND BALANCE - GAAP BASIS, end of period 2,534,656$ DRAFT Page 125 of 231 CITY OF GEORGETOWN, TEXAS TAX INCREMENT REINVESTMENT ZONES SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 98 VARIANCE TO BUDGET REVENUES Property assessments 217,282$ 247,210$ 29,928$ Investment earnings 650 518 (132) Total revenues 217,932 247,728 29,796 EXPENDITURES Capital 37,025 - 37,025 Total expenditures 37,025 - 37,025 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 180,907 247,728 66,821 OTHER FINANCING (USES) Transfers out (172,000) (172,000) - Total other financing (uses)(172,000) (172,000) - EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING (USES) - BUDGETARY BASIS 8,907 75,728 66,821 FUND BALANCE, beginning of period 131,216 179,876 48,660 FUND BALANCE - BUDGETARY BASIS, end of period 140,123$ 255,604 115,481$ Adjustments to GAAP - FUND BALANCE - GAAP BASIS, end of period 255,604$ ACTUAL BUDGETARY BASIS ORIGINAL AND FINAL BUDGET DRAFT Page 126 of 231 CITY OF GEORGETOWN, TEXAS TOURISM SPECIAL REVENUE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 99 ORIGINAL BUDGET FINAL BUDGET REVENUES Hotel/motel tax 708,000$ 708,000$ 711,060$ 3,060$ Investment earnings 3,500 3,500 1,755 (1,745) Other 98,000 98,000 96,968 (1,032) Total revenues 809,500 809,500 809,783 283 EXPENDITURES Personnel 258,018 250,363 250,363 - Operations 495,222 506,587 505,550 1,037 Capital outlay 12,500 12,500 12,500 - Total expenditures 765,740 769,450 768,413 1,037 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES 43,760 40,050 41,370 1,320 OTHER FINANCING SOURCES (USES) Transfers in - 3,710 3,710 - Transfers out (130,850) (130,850) (130,850) - Total other financing sources (uses) (130,850) (127,140) (127,140) - EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES (USES) - BUDGETARY BASIS (87,090) (87,090) (85,770) 1,320 FUND BALANCE, beginning of period 586,156 586,156 568,793 (17,363) FUND BALANCE - BUDGETARY BASIS, end of period 499,066$ 499,066$ 483,023 (16,043)$ Adjustments to GAAP Reverse crossyear POs 3 Reverse current year encumbrances 61,226 FUND BALANCE - GAAP BASIS, end of period 544,252$ ACTUAL BUDGETARY BASIS VARIANCE TO BUDGET DRAFT Page 127 of 231 SUPPLEMENTARY INDIVIDUAL FUND FINANCIAL STATEMENTS AND SCHEDULES – MAJOR GOVERNMENTAL FUNDS DRAFT Page 128 of 231 CITY OF GEORGETOWN, TEXAS GENERAL FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 (WITH COMPARATIVE FOR 2014) 100 2015 2014 ACTUAL ACTUAL ORIGINAL FINAL BUDGETARY VARIANCE BUDGETARY BUDGET BUDGET BASIS TO BUDGET BASIS REVENUES Taxes Property tax Current 10,964,039$ 10,964,039$ 10,700,252$ (263,787)$ 9,411,873$ Delinquent 70,000 70,000 18,845 (51,155) 47,484 Penalties and interest 75,000 75,000 65,672 (9,328) 76,910 Total property tax 11,109,039 11,109,039 10,784,769 (324,270) 9,536,267 Sales tax 11,785,875 11,785,875 11,296,644 (489,231) 10,984,723 Franchise taxes 4,560,827 4,560,827 4,925,043 364,216 4,478,899 Other 310,000 310,000 325,042 15,042 293,655 Total taxes 27,765,741 27,765,741 27,331,498 (434,243) 25,293,544 LICENSES AND PERMITS Permits and inspection fees 1,546,050 1,546,050 1,984,791 438,741 1,924,328 Licenses 20,000 20,000 25,588 5,588 8,235 Total licenses and permits 1,566,050 1,566,050 2,010,379 444,329 1,932,563 CHARGES FOR SERVICES Library 78,620 78,620 84,531 5,911 85,020 Animal services 2,000 2,000 3,000 1,000 2,210 Parks and recreation 2,031,150 2,031,150 2,108,981 77,831 1,945,876 Environmental services 6,211,991 6,284,751 6,534,836 250,085 5,962,387 Fire protection 1,600,120 1,600,120 1,620,592 20,472 1,484,672 Police support 183,916 183,916 195,882 11,966 201,535 Total charges for services 10,107,797 10,180,557 10,547,822 367,265 9,681,700 FINES AND FORFEITURES 707,500 707,500 529,920 (177,580)598,717 INTEREST AND OTHER Investment income 25,000 25,000 29,899 4,899 26,908 Rent 114,000 114,000 (137,499) (251,499) 76,501 Miscellaneous 369,875 369,875 830,989 461,114 580,114 Total interest and other 508,875 508,875 723,389 214,514 683,523 TOTAL REVENUES 40,655,963 40,728,723 41,143,008 414,285 38,190,047 EXPENDITURES Culture-recreation Downtown & community service admin Personnel 422,954 458,187 458,187 - 383,691 Operations 174,434 153,111 144,006 (9,105) 153,686 Capital outlay - - 25 25 10,000 Total downtown & community svc admin 597,388 611,298 602,218 (9,080) 547,377 Parks Personnel 1,333,492 1,348,553 1,321,289 27,264 1,276,728 Operations 1,294,927 1,154,396 1,153,651 745 1,071,076 Capital outlay - - - - 169,535 Total parks 2,628,419 2,502,949 2,474,940 28,009 2,517,339 Recreation Personnel 1,216,462 1,219,203 1,180,315 38,888 1,088,288 Operations 1,064,164 1,061,359 960,605 100,754 850,795 Total recreation 2,280,626 2,280,562 2,140,920 139,642 1,939,083 Recreation programs Personnel 934,698 921,894 914,279 7,615 863,124 Operations 849,465 870,854 870,838 16 822,677 Total recreation programs 1,784,163 1,792,748 1,785,117 7,631 1,685,801 Arts & culture Personnel 79,490 79,490 78,474 1,016 - Total recreation programs 79,490 79,490 78,474 1,016 - (continued) DRAFT Page 129 of 231 CITY OF GEORGETOWN, TEXAS GENERAL FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 (WITH COMPARATIVE FOR 2014) 101 2015 2014 ACTUAL ACTUAL ORIGINAL FINAL BUDGETARY VARIANCE BUDGETARY BUDGET BUDGET BASIS TO BUDGET BASIS Library Personnel 1,238,063$ 1,255,589$ 1,255,589$ -$ 1,116,282$ Operations 693,538 684,192 644,514 39,678 557,818 Capital outlay 140,966 140,966 129,632 11,334 140,139 Total library 2,072,567 2,080,747 2,029,735 51,012 1,814,239 TOTAL CULTURE - RECREATION 9,442,653 9,347,794 9,111,404 218,230 8,503,839 DEVELOPMENT Planning Personnel 709,874 693,711 693,711 - 674,442 Operations 127,751 164,164 158,661 5,503 133,441 Total planning 837,625 857,875 852,372 5,503 807,883 Inspection services Personnel 782,065 735,876 735,876 - 745,891 Operations 207,666 202,306 202,306 - 151,484 Total inspection services 989,731 938,182 938,182 - 897,375 TOTAL DEVELOPMENT 1,827,356 1,796,057 1,790,554 5,503 1,705,258 ENVIRONMENTAL SERVICES Environmental Services Personnel 73,758 73,753 73,753 - 39,254 Operations 5,387,785 5,517,099 5,517,091 8 5,059,345 Capital outlay 5,000 - - - - Total environmental services 5,466,543 5,590,852 5,590,844 8 5,098,599 TOTAL ENVIRONMENTAL SERVICES 5,466,543 5,590,852 5,590,844 8 5,098,599 FIRE SERVICES Support Services Personnel 1,154,037 1,513,620 1,513,617 3 653,094 Operations 672,541 653,518 653,517 1 492,951 Total support services 1,826,578 2,167,138 2,167,134 4 1,146,045 Emergency Services Personnel 7,909,125 7,501,650 7,324,184 177,466 7,476,980 Operations 1,023,899 1,090,814 1,090,811 3 853,996 Total emergency services 8,933,024 8,592,464 8,414,995 177,469 8,330,976 TOTAL FIRE SERVICES 10,759,602 10,759,602 10,582,129 177,473 9,477,021 GENERAL GOVERNMENT General government Operations 1,797,959 1,664,764 1,926,120 (261,356) 1,677,430 Total general government 1,797,959 1,664,764 1,926,120 (261,356) 1,677,430 City council Personnel 43,918 55,248 55,248 - 323,156 Operations 81,002 69,672 64,361 5,311 149,448 Total city council 124,920 124,920 119,609 5,311 472,604 (continued) DRAFT Page 130 of 231 CITY OF GEORGETOWN, TEXAS GENERAL FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 (WITH COMPARATIVE FOR 2014) 102 2015 2014 ACTUAL ACTUAL ORIGINAL FINAL BUDGETARY VARIANCE BUDGETARY BUDGET BUDGET BASIS TO BUDGET BASIS City manager's office Personnel 424,058$ 620,983$ 603,723$ 17,260$ 418,348$ Operations 149,731 154,806 154,257 549 203,636 Total city manager's office 573,789 775,789 757,980 17,809 621,984 City's secretary Personnel 349,366 349,366 332,779 16,587 - Operations 188,211 188,211 180,119 8,092 - Capital outlay 4,000 4,000 1,963 2,037 - Total city secretary 541,577 541,577 514,861 26,716 - Communication office Personnel 239,373 246,963 232,986 13,977 202,479 Operations 108,949 118,848 88,792 30,056 76,135 Capital outlay - 4,100 4,094 6 86,915 Total communication office 348,322 369,911 325,872 44,039 365,529 TOTAL GENERAL GOVERNMENT 3,386,567 3,476,961 3,644,442 (167,481)3,137,547 HIGHWAYS AND STREETS Transportation Admin Personnel 348,779 357,529 355,938 1,591 316,697 Operations 434,413 434,413 379,635 54,778 206,213 Capital outlay - - - - 149,718 Total transportation admin 783,192 791,942 735,573 56,369 672,628 Streets Personnel 1,174,649 1,168,514 1,103,523 64,991 932,536 Operations 1,221,537 1,227,672 1,227,671 1 1,270,826 Capital outlay 1,483,730 1,623,730 1,040,230 583,500 1,409,077 Total streets 3,879,916 4,019,916 3,371,424 648,492 3,612,439 TOTAL HIGHWAYS AND STREETS 4,663,108 4,811,858 4,106,997 704,861 4,285,067 POLICE SERVICES Organization and administration Personnel 447,430 475,960 474,426 1,534 445,824 Operations 1,973,351 1,979,088 1,858,289 120,799 1,458,609 Capital outlay - - - - 145 Total organization and administration 2,420,781 2,455,048 2,332,715 122,333 1,904,578 Field operations bureau Personnel 8,970,141 8,941,601 8,656,994 284,607 8,164,686 Operations 511,385 534,189 531,803 2,386 334,195 Capital outlay - - - - 210 Total field operations bureau 9,481,526 9,475,790 9,188,797 286,993 8,499,091 Animal services Personnel 594,982 602,982 599,997 2,985 571,034 Operations 262,898 262,898 182,914 79,984 182,353 Total animal services 857,880 865,880 782,911 82,969 753,387 Code enforcement Personnel 273,996 273,996 273,969 27 230,551 Operations 81,594 81,594 74,140 7,454 75,221 Total code enforcement 355,590 355,590 348,109 7,481 305,772 Municipal court Personnel 451,900 436,937 436,937 - 386,318 Operations 100,264 251,477 251,470 7 129,790 Total municipal court 552,164 688,414 688,407 7 516,108 TOTAL POLICE SERVICES 13,667,941 13,840,722 13,340,939 499,783 11,978,936 (continued) DRAFT Page 131 of 231 CITY OF GEORGETOWN, TEXAS GENERAL FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 (WITH COMPARATIVE FOR 2014) 103 2015 2014 ACTUAL ACTUAL ORIGINAL FINAL BUDGETARY VARIANCE BUDGETARY BUDGET BUDGET BASIS TO BUDGET BASIS TOTAL EXPENDITURES 49,213,770$ 49,623,846$ 48,167,309$ 1,456,537$ 44,186,267$ EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (8,557,807) (8,895,123) (7,024,301)1,870,822 (5,996,220) OTHER FINANCING SOURCES (USES) Transfers in 6,922,775 6,925,516 7,720,944 795,428 6,964,508 Transfers out (523,998) (1,188,673) (1,188,673)- (2,034,075) Total other financing sources (uses)6,398,777 5,736,843 6,532,271 795,428 4,930,433 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDINTURES AND OTHER FINANCING SOURCES (USES) - BUDGETARY BASIS (2,159,030) (3,158,280)(492,030)2,666,250 (1,065,787) FUND BALANCE - BUDGETARY BASIS, Beginning of period 9,940,212 10,939,462 10,416,804 (522,658) 11,482,591 FUND BALANCE - BUDGETARY BASIS, End of period 7,781,182$ 7,781,182$ 9,924,774 2,143,592$ 10,416,804 Adjustments to GAAP Reverse current year encumbrances 1,835,138 1,755,953 Record net unrealized gain (loss) on investments (82) (78) Reverse voided purchase orders 244,025 - FUND BALANCE - GAAP BASIS, End of period 12,003,855$ 12,172,679$ DRAFT Page 132 of 231 CITY OF GEORGETOWN, TEXAS GEORGETOWN TRANSPORTATION ENHANCEMENT CORPORATION SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 (WITH COMPARATIVE FOR 2014) 104 Original Budget Final Budget 2015 Actual Budgetary Basis Variance to Budget 2014 Actual Budgetary Basis REVENUES Sales Tax 5,491,500$ 5,491,500$ 5,246,213$ (245,287)$ 5,114,052$ Grants - 1,350,000 658,985 (691,015) 2,734,039 Investment earnings 12,500 12,500 52,295 39,795 20,295 Other 500,000 500,000 283,632 (216,368) - Total revenues 6,004,000 7,354,000 6,241,125 (1,112,875) 7,868,386 EXPENDITURES Operations 405,101 405,101 343,902 61,199 310,498 Principal, interest and fiscal charges 867,559 867,559 8,605,870 (7,738,311) 866,959 Capital outlay 9,452,922 30,011,922 8,656,826 21,355,096 4,378,393 Total expenditures 10,725,582 31,284,582 17,606,598 13,677,984 5,555,850 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (4,721,582) (23,930,582) (11,365,473) (14,790,859) 2,312,536 OTHER FINANCING SOURCES (USES) Issuance of bonds - 17,500,000 7,755,000 (9,745,000) - Transfers in - - 489,915 489,915 495,638 Transfers out (1,732,572) (1,732,572) (1,699,395) 33,177 (1,842,672) Total other financing sources (uses) (1,732,572) 15,767,428 6,545,520 (9,221,908) (1,347,034) EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES (USES) - BUDGETARY BASIS (6,454,154) (8,163,154) (4,819,953) (24,012,767) 965,502 FUND BALANCE, beginning of period 10,681,398 12,390,398 13,347,959 957,561 12,339,757 FUND BALANCE - BUDGETARY BASIS, end of period 4,227,244$ 4,227,244$ 8,528,006 (23,055,206)$ 13,305,259 Adjustments to GAAP Reverse bond interest (38,719) (45,321) Reverse voided purchase orders 260 42,700 Reverse unrealized (loss) gain on investments 283 238 Reverse current year encumbrances 3,068,487 1,144,786 FUND BALANCE - GAAP BASIS, end of period 11,558,317$ 14,447,662$ DRAFT Page 133 of 231 CITY OF GEORGETOWN, TEXAS DEBT SERVICE FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 (WITH COMPARATIVE FOR 2014) 105 Original Budget Final Budget 2015 Actual Budgetary Basis Variance to Budget 2014 Actual Budgetary Basis REVENUES Ad valorem taxes 9,350,000$ 9,350,000$ 9,817,979$ 467,979$ 9,462,980$ Investment earnings 2,000 2,000 3,924 1,924 1,477 Total revenues 9,352,000 9,352,000 9,821,903 469,903 9,464,457 EXPENDITURES AND OTHER FINANCING SOURCES (USES) Principal, interest and fiscal charges (11,359,651) (11,213,759) (11,213,758)1 (11,350,207) Issuance of bonds - 5,625,350 5,684,703 59,353 12,112,970 Payment to refunding escrow agent - (5,738,065) (5,771,235) (33,170) (11,911,063) Transfers in 1,732,572 1,699,395 1,699,395 - 1,842,672 Total other financing sources (uses) (9,627,079) (9,627,079) (9,600,895) 26,184 (9,305,628) EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES (USES) - BUDGETARY BASIS (275,079) (275,079) 221,008 496,087 158,829 FUND BALANCE, beginning of period 1,496,547 1,496,547 1,268,188 (228,359) 1,109,359 FUND BALANCE - BUDGETARY BASIS, end of period 1,221,468$ 1,221,468$ 1,489,196 267,728$ 1,268,188 Adjustments to GAAP Reverse unrealized (loss) gain on investments 118 (2) FUND BALANCE - GAAP BASIS, end of period 1,489,314$ 1,268,186$ DRAFT Page 134 of 231 CITY OF GEORGETOWN, TEXAS GENERAL CAPITAL PROJECTS FUND SCHEDULE OF REVENUES AND EXPENDITURES (BUDGET BASIS) – BUDGET AND ACTUAL (NON-GAAP) – RECONCILED TO GAAP BASIS FISCAL YEAR ENDED SEPTEMBER 30, 2015 (WITH COMPARATIVE FOR 2014) 106 Original Budget Final Budget 2015 Actual Budgetary Basis Variance to Budget 2014 Actual Budgetary Basis REVENUES: Investment earnings 75,000$ 75,000$ 56,893$ (18,107)$ 81,950$ Grants & Donations 750,000 750,000 235,051 (514,949) 4,699,040 Other 300,000 300,000 137,334 (162,666) 3,722,734 Total revenues 1,125,000 1,125,000 429,278 (695,722) 8,503,724 EXPENDITURES: Capital outlay 11,552,000 19,967,320 10,282,958 9,684,362 14,726,088 Bond issuance cost 115,620 115,620 (23,915) 139,535 83,910 Total expenditures 11,667,620 20,082,940 10,259,043 9,823,897 14,809,998 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES (10,542,620) (18,957,940) (9,829,765) 9,128,175 (6,306,274) OTHER FINANCING SOURCES (USES): Issuance of bonds 8,265,000 9,996,930 13,990,000 3,993,070 6,641,000 Transfers in 302,000 302,000 302,000 - 1,545,500 Transfers out (1,208,000) (5,363,000) (4,774,436) - (2,522,000) Total other financing sources (uses)7,359,000 4,935,930 9,517,564 4,581,634 5,664,500 EXCESS (DEFICIENCY) OF REVENUES OVER EXPENDITURES AND OTHER FINANCING SOURCES (USES) - BUDGETARY BASIS (3,183,620) (14,022,010) (312,201) 13,709,809 (641,774) FUND BALANCES, Beginning of period 7,879,992 18,718,382 14,841,330 (3,877,052) 15,483,104 FUND BALANCES - BUDGETARY BASIS, End of Period 4,696,372$ 4,696,372$ 14,529,129$ 9,832,757$ 14,841,330$ Adjustments to GAAP: Reverse unrealized loss on investments 721 (883) Reverse current year encumbrances 4,538,353 11,325,010 Reverse voided purchase orders 806,796 - FUND BALANCES - GAAP BASIS, End of period 19,874,999$ 26,165,457$ DRAFT Page 135 of 231 Combining Financial Statements Nonmajor Proprietary Funds 107 Enterprise Funds - The City's utilities are accounted for and operated in a manner similar to private business enterprises. Each utility accounted for as an independent entity, is an enterprise fund. Enterprise fund accounting is used where the intent of the City Council is to finance or recover the costs of providing goods or services to the general public on a continuing basis primarily through user charges or when the City Council has decided that periodic determination of net income is appropriate for accountability purposes. Airport Fund - used to account for revenues and expenses related to the operation and maintenance of the City's airport. Stormwater Drainage Fund - used to account for revenues and expenses related to the operations, capital projects, and debt service of the stormwater drainage facilities. Internal Service Funds - This fund is used to account for services performed by one government organization or department for others. Fleet Services Fund - The City uses this fund to purchase and account for all major equipment and vehicles. Each item is assigned an annual lease value which the leasing department pays to the Internal Service Fund. The annual lease value is determined by the projected replacement cost divided by the years of useful life of the item. The payments made by the departments enable the Internal Service Fund to replace equipment and vehicles on a pre-planned schedule to minimize maintenance costs and reduce safety risks due to worn out equipment and vehicles. The fund also provides maintenance for all vehicles through the Vehicle Service Center. Joint Services Fund - The Joint Services Fund is composed of departments which provide services to more than one city fund. Charges for services provided are determined by allocating each specific department's cost to the using fund. Facilities Maintenance Fund - The City uses this fund to account for janitorial service, light maintenance, painting, landscape maintenance and roofing and air conditioning repairs for all City buildings. Each building is assigned an annual maintenance cost, which is paid to the Internal Service Fund by the occupying departments, based on square footage occupied. The payments made by the departments enable the Internal Service Fund to provide major and minor facility repairs on a preplanned schedule to minimize maintenance costs and provide preventative care to reduce long-term maintenance and replacement costs. Information Technology Fund - The City uses this fund to account for purchases and maintenance of the City's computer systems. Each department pays an annual predetermined lease payment, based upon the equipment the department has. These payments enable the fund to replace older equipment and upgrade the City's computer resources and provide assistance in maintenance of equipment. This fund also provides for the management of the City's computer systems through personnel in the Information Services department. Self-Insurance Fund – The City uses this account for its self-insurance program providing health insurance to employees and their family members. DRAFT Page 136 of 231 CITY OF GEORGETOWN, TEXAS COMBINING STATEMENT OF NET POSITION NONMAJOR ENTERPRISE FUNDS SEPTEMBER 30, 2015 108 TOTAL STORMWATER NONMAJOR AIRPORT DRAINAGE ENTERPRISE FUND FUND FUNDS ASSETS Current assets Cash and cash equivalents -$ 255,169$ 255,169$ Cash and cash equivalents - restricted 363,855 - 363,855 Investments - 352,376 352,376 Investments - restricted 502,466 1,425,599 1,928,065 Accounts receivable Services (net of allowance for uncollectibles)78,918 378,568 457,486 Inventories 25,569 - 25,569 Total current assets 970,808 2,411,712 3,382,520 Noncurrent assets Capital assets Land and land rights 981,500 - 981,500 Distribution system 5,970,643 37,748,525 43,719,168 Buildings and improvements 3,856,218 - 3,856,218 Machinery, furniture and equipment 2,388,976 37,166 2,426,142 Construction in progress 614,182 215,881 830,063 Less accumulated depreciation (7,054,325) (8,020,875) (15,075,200) Total capital assets (net of accumulated depreciation)6,757,194 29,980,697 36,737,891 Total noncurrent assets 6,757,194 29,980,697 36,737,891 TOTAL ASSETS 7,728,002 32,392,409 40,120,411 DEFERRED OUTFLOWS OF RESOURCES Deferred outflow related to pension 12,171 44,555 56,726 Deferred charge on refunding 31,455 66,446 97,901 TOTAL DEFERRED OUTFLOWS OF RESOURCES 43,626 111,001 154,627 TOTAL ASSETS AND DEFERRED OUTFLOWS OF RESOURCES 7,771,628$ 32,503,410$ 40,275,038$ LIABILITIES AND NET POSITION Liabilities Current liabilities Accounts payable 55,493$ 13 9,363$ 194,856$ Accrued employee benefits 6,238 24,917 31,155 Due to other funds 114,783 - 114,783 Current portion of long-term debt 93,883 424,388 518,271 Accrued interest 6,052 22,318 28,370 Total current liabilities 276,449 610,986 887,435 Noncurrent liabilities Accrued employee benefits 9,410 34,015 43,425 Net pension liability 42,107 154,147 196,254 Long-term debt payable 1,282,607 4,583,382 5,865,989 Total noncurrent liabilities 1,334,124 4,771,544 6,105,668 Total liabilities 1,610,573 5,382,530 6,993,103 Net position Net investment in capital assets 5,412,159 26,464,972 31,877,131 Unrestricted 748,896 655,908 1,404,804 Total net position 6,161,055 27,120,880 33,281,935 TOTAL LIABILITIES AND NET POSITION 7,771,628$ 32,503,410$ 40,275,038$ DRAFT Page 137 of 231 CITY OF GEORGETOWN, TEXAS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION NONMAJOR ENTERPRISE FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 109 TOTAL STORMWATER NONMAJOR AIRPORT DRAINAGE ENTERPRISE FUND FUND FUNDS OPERATING REVENUES Other 2,604,049$ 2,638,945$ 5,242,994$ Total operating revenues 2,604,049 2,638,945 5,242,994 OPERATING EXPENSES Depreciation 160,825 1,016,944 1,177,769 Other 2,632,279 1,826,520 4,458,799 Total operating expenses 2,793,104 2,843,464 5,636,568 NET OPERATING LOSS (189,055) (204,519) (393,574) NONOPERATING REVENUES (EXPENSES) Investment income 279 2,666 2,945 Donations and grants 1,255,924 - 1,255,924 Interest and fiscal charges (45,297) (139,822)(185,119) Other 27,162 - 27,162 Total nonoperating revenues (expenses)1,238,068 (137,156) 1,100,912 INCOME (LOSS) BEFORE CONTRIBUTIONS AND TRANSFERS 1,049,013 (341,675) 707,338 CONTRIBUTIONS AND TRANSFERS Capital contributions - 1,958,266 1,958,266 Transfers out (3,463) (250,013)(253,476) Total contributions and transfers (3,463) 1,708,253 1,704,790 CHANGE IN NET POSITION 1,045,550 1,366,578 2,412,128 TOTAL NET POSITION, beginning of period 5,147,087 25,869,918 31,017,005 RESTATEMENT (31,582) (115,616) (147,198) TOTAL NET POSITION, end of period 6,161,055$ 27,120,880$ 33,281,935$ DRAFT Page 138 of 231 CITY OF GEORGETOWN, TEXAS COMBINING STATEMENT OF CASH FLOWS NONMAJOR ENTERPRISE FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 110 STORMWATER TOTAL AIRPORT DRAINAGE NONMAJOR FUND FUND ENTERPRISE FUNDS CASH FLOWS FROM OPERATING ACTIVITIES Cash received from customers 2,834,941$ 2,634,939$ 5,469,880$ Payments to suppliers (2,289,707) (1,625,270) (3,914,977) Payments to employees for services (348,454) (415,809) (764,263) Net cash provided by (used for) operating activities 196,780 593,860 790,640 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers out (3,463) (250,013) (253,476) Net cash provided by (used for) noncapital financing activities (3,463) (250,013) (253,476) CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets (29,412) (2,358,490) (2,387,902) Proceeds from issuance of long-term debt - 459,000 459,000 Principal paid on revenue and certificates of obligation bonds 744,903 1,493,141 2,238,044 Interest paid on revenue and certificates of obligation bonds (42,766) (145,108) (187,874) Net cash provided by (used for) capital and related financing activities 672,725 (551,457) 121,268 CASH FLOWS FROM INVESTING ACTIVITIES Interest received 279 2,666 2,945 Change in temporary investments (502,466) (42,663) (545,129) Net cash provided by (used for) investing activities (502,187) (39,997) (542,184) Net increase (decrease) in cash and cash equivalents 363,855 (247,607) 116,248 CASH AND CASH EQUIVALENTS, beginning of year - 502,776 502,776 CASH AND CASH EQUIVALENTS, end of year 363,855$ 255,169$ 619,024$ NON-CASH DISCLOSURE OF CAPITAL ACTIVITY Developer contributions -$ 1,958,266$ 1,958,266$ OPERATING INCOME (LOSS)(189,055)$ (204,519)$ (393,574)$ Adjustments to reconcile operating income (loss) to cash provided by (used in) operating activities Depreciation 160,825 1,016,944 1,177,769 Other income 27,162 - 27,162 Decrease (increase) in inventories (9,169) - (9,169) Decrease (increase) in accounts receivable 122,674 (48,835) 73,839 Increase (decrease) in due to other funds 70,531 - 70,531 Increase (decrease) in accounts payable 4,286 (214,560) (210,274) Increase (decrease) in net pension liability 10,525 38,531 49,056 Increase (decrease) in accrued employee benefits (999) 6,299 5,300 Net cash provided by (used in) operating activities 196,780$ 593,860$ 790,640$ DRAFT Page 139 of 231 CITY OF GEORGETOWN, TEXAS COMBINING STATEMENT OF NET POSITION INTERNAL SERVICE FUNDS SEPTEMBER 30, 2015 111 FLEET JOINT FACILITIES INFORMATION SELF SERVICES SERVICES MAINTENANCE TECHNOLOGY INSURANCE TOTAL FUND FUND FUND FUND FUND 2015 ASSETS Current Cash and cash equivalents 761,986$ 420,887$ 392,524$ 358,056$ 1,112,449$ 3,045,902$ Investments 1,052,266 581,224 542,057 494,458 1,536,238 4,206,243 Prepaid expense - 30,557 - - 233,069 263,626 Accounts receivable - 266,061 1,361 - - 267,422 Inventories - 887,527 - - - 887,527 Total current assets 1,814,252 2,186,256 935,942 852,514 2,881,756 8,670,720 Property and equipment Land and land rights - 214,066 - - - 214,066 Buildings and improvements 26,181 813,680 1,018,656 - - 1,858,517 Machinery, furniture and equipment 23,992,330 1,207,790 1,415,779 5,737,302 - 32,353,201 Total property and equipment cost 24,018,511 2,235,536 2,434,435 5,737,302 - 34,425,784 Less accumulated depreciation (12,734,037) (1,974,204) (1,697,880) (5,155,660) - (21,561,781) Net property and equipment 11,284,474 261,332 736,555 581,642 - 12,864,003 TOTAL ASSETS 13,098,726$ 2,447,588$ 1,672,497$ 1,434,156$ 2,881,756$ 21,534,723$ LIABILITIES AND NET POSITION Liabilities Current liabilities Accounts payable 65,200$ 696,142$ 151,170$ 67,352$ 518,783$ 1,498,647$ Accrued employee benefits 17,424 - 11,122 29,359 - 57,905 Unearned revenue - 436,848 - 436,848 Due to other funds - - - - 233,069 233,069 Total current liabilities 82,624 1,132,990 162,292 96,711 751,852 2,226,469 Noncurrent liabilities Accrued employee benefits 23,159 - 13,485 38,664 - 75,308 Total liabilities 105,783 1,132,990 175,777 135,375 - 2,301,777 Net position Net investment in capital assets 11,284,474 261,332 736,555 581,642 - 12,864,003 Unrestricted 1,708,469 1,053,266 760,165 717,139 2,129,904 6,368,943 Total net position 12,992,943 1,314,598 1,496,720 1,298,781 2,129,904 19,232,946 TOTAL LIABILITIES AND NET POSITION 13,098,726$ 2,447,588$ 1,672,497$ 1,434,156$ 2,881,756$ 21,534,723$ DRAFT Page 140 of 231 CITY OF GEORGETOWN, TEXAS COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANGES IN FUND NET POSITION – INTERNAL SERVICE FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 112 FLEET JOINT FACILITIES INFORMATION SELF SERVICES SERVICES MAINTENANCE TECHNOLOGY INSURANCE TOTAL FUND FUND FUND FUND FUND 2015 OPERATING REVENUES - Charges for services 2,626,377$ 11,757,770$ 3,048,038$ 3,602,358$ 5,930,126$ 26,964,669$ OPERATING EXPENSES Administration - 1,250,123 - - - 1,250,123 Accounting - 716,750 - - - 716,750 City wide HR services - 352,198 - - - 352,198 Conservation - 532,773 - - - 532,773 Customer care - 1,579,479 - - - 1,579,479 Economic development administration - 414,873 - - - 414,873 Engineering support - 917,039 - - - 917,039 Facilities maintenance contracts - - 1,610,551 - - 1,610,551 Facilities maintenance services - - 840,719 - - 840,719 Finance and administration - 862,367 - - - 862,367 Fleet services operations 576,938 - - - - 576,938 Human resources - 809,306 - - - 809,306 Information technology - - - 1,765,957 - 1,765,957 Information technology capital replacement & contracts - - - 1,672,532 - 1,672,532 Joint services contracts - 1,560,051 - - - 1,560,051 Legal services - 675,331 - - - 675,331 Main street - 138,134 - - - 138,134 Medical insurance - - - - 4,188,140 4,188,140 Purchasing - 665,178 - - - 665,178 Service center 1,183,354 - - - - 1,183,354 Systems engineering - 1,465,680 - - - 1,465,680 Depreciation 1,752,269 16,465 585,252 465,837 - 2,819,823 Total operating expenses 3,512,561 11,955,747 3,036,522 3,904,326 4,188,140 26,597,296 NET OPERATING INCOME (LOSS)(886,184) (197,977) 11,516 (301,968) 1,741,986 367,373 NONOPERATING REVENUES (EXPENSES) Investment income 9,728 - 7,083 7,169 4,560 28,540 Loss on disposal of assets (56,148)- - - - (56,148) Other - 327,557 - 2,400 160,000 489,957 Total nonoperating revenues (expenses)(46,420) 327,557 7,083 9,569 164,560 462,349 INCOME (LOSS) BEFORE CONTRIBUTIONS AND TRANSFERS (932,604) 129,580 18,599 (292,399) 1,906,546 829,722 CONTRIBUTIONS AND TRANSFERS Capital contributions 219,940 - - - - 219,940 Transfers in 2,393,718 449,024 - 672,623 - 3,515,365 Transfers out (243,516) (26,806)- - - (270,322) Total contributions and transfers 2,370,142 422,218 - 672,623 - 3,464,983 CHANGE IN NET POSITION 1,437,538 551,798 18,599 380,224 1,906,546 4,294,705 NET POSITION, beginning of period 11,555,405 762,800 1,478,121 918,557 223,358 14,938,241 NET POSITION, end of period 12,992,943$ 1,314,598$ 1,496,720$ 1,298,781$ 2,129,904$ 19,232,946$ DRAFT Page 141 of 231 CITY OF GEORGETOWN, TEXAS COMBINING STATEMENT OF CASH FLOWS INTERNAL SERVICE FUNDS FISCAL YEAR ENDED SEPTEMBER 30, 2015 113 FLEET JOINT FACILITIES INFORMATION SELF SERVICES SERVICES MAINTENANCE TECHNOLOGY INSURANCE TOTAL FUND FUND FUND FUND FUND 2015 CASH FLOWS FROM OPERATING ACTIVITIES Department contributions 2,626,377$ 12,283,365$ 3,047,200$ 3,605,235$ 6,582,321$ 28,144,498$ Payments to suppliers (1,294,784) (4,721,215) (2,060,776) (1,907,549) (4,042,507) (14,026,831) Payments to employees for services (576,712) (7,739,674) (440,276) (1,525,990) - (10,282,652) Net cash provided by (used in) operating activities 754,881 (177,524) 546,148 171,696 2,539,814 3,835,015 CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES Transfers in 2,393,718 449,024 - 672,623 - 3,515,365 Transfers out (243,516) (26,806) - - - (270,322) Net cash provided by noncapital financing activities 2,150,202 422,218 - 672,623 - 3,245,043 CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES Acquisition of capital assets (2,505,527) (36,349) (303,779) (469,153) - (3,314,808) Net cash (used) for capital and related financing activities (2,505,527) (36,349) (303,779) (469,153) - (3,314,808) CASH FLOWS FROM INVESTING ACTIVITIES Interest received 9,728 - 7,083 7,169 4,560 28,540 Change in temporary investments (434,080) (231,967) (240,600) (287,579) (1,490,340) (2,684,566) Net cash provided by (used in) investing activities (424,352) (231,967) (233,517) (280,410) (1,485,780) (2,656,026) Net increase (decrease) in cash (24,796) (23,622) 8,852 94,756 1,054,034 1,109,224 CASH AND CASH EQUIVALENTS, beginning of year 786,782 444,509 383,672 263,300 58,415 1,936,678 CASH AND CASH EQUIVALENTS, end of year 761,986$ 420,887$ 392,524$ 358,056$ 1,112,449$ 3,045,902$ NON-CASH DISCLOSURE Developer contributions received 219,940$ -$ -$ -$ -$ 219,940$ OPERATING INCOME (LOSS)(886,184)$ (197,977)$ 11,516$ (301,968)$ 1,741,986$ 367,373$ Adjustments to reconcile operating income (loss) to cash provided by (used in) operating activities: Depreciation 1,752,269 16,465 585,252 465,837 - 2,819,823 Other income - 327,557 - 2,400 160,000 489,957 Decrease (increase) in inventories - (581,285) - - - (581,285) Decrease (increase) in accounts receivable - (4,812) (838) 477 492,195 487,022 Increase (decrease) in accounts payable (114,123) 59,678 (50,613) (6,995) 145,633 33,580 Increase (decrease) in unearned revenue - 202,850 - - - 202,850 Increase (decrease) in accrued employee benefits 2,919 - 831 11,945 - 15,695 Net cash provided by (used in) operating activities 754,881$ (177,524)$ 546,148$ 171,696$ 2,539,814$ 3,835,015$ DRAFT Page 142 of 231 This page intentionally left blank. DRAFT Page 143 of 231 AGENCY FUNDS STATEMENT OF CHANGES IN ASSETS AND LIABILITIES DRAFT Page 144 of 231 CITY OF GEORGETOWN, TEXAS AGENCY FUNDS STATEMENT OF CHANGES IN ASSETS AND LIABILITIES FISCAL YEAR ENDED SEPTEMBER 30, 2015 114 Balance Balance October 1,September 30, 2014 Additions Deductions 2015 Public improvement districts Assets Cash and cash equivalents 449,631$ 437,430$ 848,382$ 38,679$ Total assets 449,631$ 437,430 848,382 38,679 Liabilities Accounts payable 449,631$ 437,430$ 848,382$ 38,679$ Total liabilities 449,631$ 437,430$ 848,382$ 38,679$ Texas capital fund repayments Assets Accounts receivable 217,430$ -$ 98,976$ 118,454$ Total assets 217,430$ -$ 98,976$ 118,454$ Liabilities Due to other governments 217,430$ -$ 98,976$ 118,454$ Total liabilities 217,430$ -$ 98,976$ 118,454$ Total agency funds Assets Cash and cash equivalents 449,631$ 437,430$ 848,382$ 38,679$ Accounts receivable 217,430 - 98,976 118,454 Total assets 667,061$ 437,430$ 947,358$ 157,133$ Liabilities Accounts payable 449,631$ 437,430$ 848,382$ 38,679$ Due to other governments 217,430 - 98,976 118,454 Total liabilities 667,061$ 437,430$ 947,358$ 157,133$ DRAFT Page 145 of 231 This page intentionally left blank. DRAFT Page 146 of 231 STATISTICAL SECTION DRAFT Page 147 of 231 This page intentionally left blank. DRAFT Page 148 of 231 Statistical Section (Unaudited) This part of the City of Georgetown's comprehensive annual financial report presents detailed information as a context for understanding what the information in the financial statements, note disclosures, and required supplementary information says about the government's overall financial health. Contents: Financial Trend ....................................................................................................................................................... 117 These schedules contain trend information to help the reader understand how the government's financial performance and well-being have changed over time. Revenue Capacity .................................................................................................................................................. 127 These schedules contain information to help the reader assess the government's most significant local revenue source, the property tax. Debt Capacity ......................................................................................................................................................... 137 These schedules present information to help the reader assess the affordability of the government's current levels of outstanding debt and the government's ability to issue additional debt in the future. Demographic and Economic Information................................................................................................................ 150 These schedules offer demographic and economic indicators to help the reader understand the environment within which the government's financial activities take place. Operating Information ............................................................................................................................................. 154 These schedules contain service and infrastructure data to help the reader understand how the information in the government's financial report related to the services the government provides and the activities it performs. Sources: Unless otherwise noted, the information in these schedules is derived from the comprehensive annual financial reports for the relevant year. DRAFT Page 149 of 231 CITY OF GEORGETOWN, TEXAS NET POSITION BY COMPONENT LAST TEN FISCAL YEARS (ACCRUAL BASIS OF ACCOUNTING) 115 2015 2014 2013 2012 Governmental activities Invested in capital assets, net of related debt 239,377,879$ 211,305,899$ 174,798,105$ 144,196,394$ Restricted 3,958,088 824,704 1,109,220 26,064,001 Unrestricted 20,056,114 33,401,250 40,995,207 28,542,479 Total governmental activities net assets 263,392,081$ 245,531,853$ 216,902,532$ 198,802,874$ Business-type activities Invested in capital assets, net of related debt 328,886,853$ 287,569,126$ 230,939,554$ 220,809,992$ Restricted - - - - Unrestricted 48,127,105 57,575,322 36,040,786 37,049,395 Total business-type activities net assets 377,013,958$ 345,144,448$ 266,980,340$ 257,859,387$ Primary government Invested in capital assets, net of related debt 568,264,732$ 498,875,025$ 405,737,659$ 365,006,386$ Restricted 3,958,088 824,704 1,109,220 26,064,001 Unrestricted 68,183,219 90,976,572 77,035,993 65,591,874 Total primary government net assets 640,406,039$ 590,676,301$ 483,882,872$ 456,662,261$ DRAFT Page 150 of 231 116 2011 2010 2009 2008 2007 2006 138,536,744$ 144,725,810$ 138,048,388$ 129,354,365$ 116,738,898$ 122,268,551$ 30,407,806 23,615,403 26,858,729 25,011,217 36,306,468 18,254,529 21,859,346 15,909,956 14,563,686 16,470,172 5,598,174 6,567,654 190,803,896$ 184,251,169$ 179,470,803$ 170,835,754$ 158,643,540$ 147,090,734$ 210,252,907$ 197,910,197$ 187,953,410$ 167,724,995$ 141,211,947$ 117,419,122$ - - - - - 5,389,063 30,771,961 35,786,263 33,507,546 29,144,912 30,295,994 30,942,450 241,024,868$ 233,696,460$ 221,460,956$ 196,869,907$ 171,507,941$ 153,750,635$ 348,789,651$ 342,636,007$ 326,001,798$ 297,079,360$ 257,950,845$ 239,687,673$ 30,407,806 23,615,403 26,858,729 25,011,217 36,306,468 23,643,592 52,631,307 51,696,219 48,071,232 45,615,084 35,894,168 37,510,104 431,828,764$ 417,947,629$ 400,931,759$ 367,705,661$ 330,151,481$ 300,841,369$ DRAFT Page 151 of 231 CITY OF GEORGETOWN, TEXAS CHANGES IN NET POSITION LAST TEN FISCAL YEARS (ACCRUAL BASIS OF ACCOUNTING) 117 2015 2014 2013 2012 EXPENSES Governmental activities Culture-recreation 11,003,525$ 10,438,052$ 9,775,209$ 9,328,048$ Development 2,317,907 2,037,449 1,650,530 2,284,858 Fire 11,731,142 10,378,471 9,144,092 8,634,002 General government 5,435,195 5,239,050 6,447,308 4,851,250 Police 13,284,900 12,862,736 12,042,349 11,522,334 Streets 6,463,416 9,486,497 5,459,183 5,564,690 Environmental services 5,700,681 5,097,618 4,855,404 4,830,921 Interest on long-term debt 5,061,021 5,738,394 3,806,106 4,375,653 Total governmental activities expenses 60,997,787 61,278,267 53,180,181 51,391,756 Business-type activities Airport 2,838,401 3,289,827 3,171,550 3,012,745 Electric 59,043,948 60,073,430 46,543,022 56,407,348 Environmental services - - - - Stormwater 2,983,286 2,638,430 2,204,172 1,905,019 Water 33,360,468 24,158,727 22,844,363 21,597,278 Total business-type activities expenses 98,226,103 90,160,414 74,763,107 82,922,390 Total primary government expenses 159,223,890$ 151,438,681$ 127,943,288$ 134,314,146$ PROGRAM REVENUES Governmental activities Charges for services Culture-recreation 2,506,592$ 3,146,318$ 2,425,587$ 2,285,209$ Development 2,510,092 1,942,914 1,659,670 1,668,635 Fire 1,740,719 1,200,894 1,433,679 1,137,982 General government 1,321,261 1,474,961 1,261,561 1,206,994 Police 831,461 805,728 959,027 895,703 Streets 625 1,021 1,125 - Environmental services 6,811,773 5,266,815 6,059,904 5,491,495 Operating grants and contributions 642,448 286,431 256,593 956,438 Capital grants and contributions 17,701,672 23,901,801 5,999,666 2,431,374 Total governmental activities program revenues 34,066,643 38,026,883 20,056,812 16,073,830 Business-type activities Charges for services Airpor t 2,631,211 3,254,368 2,906,267 2,881,144 Electric 63,197,781 60,319,235 54,743,979 59,344,615 Environmental services - - - - Stormwater 2,638,945 2,487,548 2,206,108 2,132,810 Water 43,488,320 33,659,956 27,244,363 26,596,509 Operating grants and contributions 25,056 25,056 25,589 147,601 Capital grants and contributions 9,405,360 76,095,951 4,558,296 3,917,721 Total business-type activities program revenues 121,386,673 175,842,114 91,684,602 95,020,400 Total primary government program revenues 155,453,316$ 213,868,997$ 111,741,414$ 111,094,230$ Net (expense)/revenue Governmental activities (26,931,144)$ (23,251,384)$ (33,123,369)$ (35,317,926)$ Business-type activities 23,160,570 85,681,700 16,921,495 12,098,010 Total primary government net expense (3,770,574)$ 62,430,316$ (16,201,874)$ (23,219,916)$ DRAFT Page 152 of 231 118 2011 2010 2009 2008 2007 2006 9,393,530$ 9,076,669$ 8,696,162$ 6,978,982$ 5,460,488$ 5,649,191$ 2,374,321 2,345,178 2,381,380 2,457,868 2,518,113 2,325,761 8,110,294 7,196,359 6,835,927 5,553,135 4,962,020 4,397,108 5,293,370 5,201,299 5,107,748 3,604,501 3,227,227 3,671,786 11,029,444 10,787,024 11,026,676 9,595,062 8,251,836 7,392,816 6,522,933 5,730,682 4,372,708 3,147,899 5,212,766 3,757,919 4,339,101 4,206,166 4,287,029 - - - 3,656,673 3,624,733 3,650,386 4,181,243 2,976,803 2,010,409 50,719,666 48,168,110 46,358,016 35,518,690 29,204,990 24,675,848 3,751,193 2,811,206 2,441,533 3,459,377 2,589,385 2,753,948 54,289,631 50,756,369 48,444,272 48,183,299 38,936,172 37,866,853 - - - 4,315,729 3,611,767 3,519,487 1,970,307 1,799,680 1,807,147 1,689,013 1,447,690 1,370,267 22,224,364 20,124,249 20,011,184 18,980,021 17,584,962 15,668,061 82,235,495 75,491,504 72,704,136 76,627,439 61,178,616 49,952,588 132,955,161$ 123,659,614$ 119,062,152$ 112,146,129$ 90,383,606$ 74,628,436$ 2,252,608$ 2,150,107$ 1,481,954$ 1,391,416$ 1,101,159$ 991,505$ 905,118 1,125,058 827,387 1,232,533 1,596,801 1,761,166 1,032,663 1,195,871 1,409,208 1,044,870 848,066 210,453 435,926 487,264 5,121 1,418,786 783,235 635,546 1,009,004 1,265,589 1,154,135 1,344,259 1,182,064 880,807 - - - - 26,900 101,685 5,116,570 4,809,271 4,582,794 - - - 962,183 405,023 1,268,957 492,632 683,731 168,863 4,422,720 2,747,483 1,600,980 909,209 3,654,737 6,153,637 16,136,792 14,185,666 12,330,536 7,833,705 10,903,662 17,857,018 3,388,816 2,435,613 2,234,637 3,308,889 2,473,286 2,595,764 58,535,067 60,136,705 57,164,312 52,846,962 44,028,755 42,526,728 - - - 4,398,047 3,738,774 3,446,566 2,036,047 1,959,007 1,913,546 1,832,165 1,793,773 1,716,066 27,142,648 22,022,414 23,541,415 23,313,864 20,800,851 20,318,603 127,051 - - - - - 2,062,382 4,842,643 17,378,138 11,071,907 8,850,968 14,217,294 93,292,011 91,396,382 102,232,048 96,771,834 84,821,021 65,866,613 109,428,803$ 105,582,048$ 114,562,584$ 104,605,539$ 95,724,683$ 83,723,631$ (34,582,874)$ (33,982,444)$ (34,027,480)$ (27,684,985)$ (18,301,328)$ (6,818,830)$ 11,056,516 15,904,878 29,527,912 20,144,395 23,642,405 15,914,025 (23,526,358)$ (18,077,566)$ (4,499,568)$ (7,540,590)$ 5,341,077$ 9,095,195$ DRAFT Page 153 of 231 CITY OF GEORGETOWN, TEXAS CHANGES IN NET POSITION (CONTINUED) LAST TEN FISCAL YEARS (ACCRUAL BASIS OF ACCOUNTING) 119 2015 2014 2013 2012 GENERAL REVENUES AND OTHER CHANGES IN NET POSITION Governmental activities Property tax 20,650,114$ 18,984,850$ 17,037,036$ 15,751,826$ Sales tax 19,165,963 18,655,801 17,002,757 15,045,592 Taxes - other 2,118,567 1,939,217 1,331,281 1,143,217 Franchise taxes 4,925,043 4,478,899 4,471,487 3,924,052 Interest on investments 201,492 169,477 241,449 230,788 Other 82,963 36,854 1,129,389 710,403 Transfers 4,904,089 7,615,607 11,719,799 6,511,026 Total governmental activities 52,048,231$ 51,880,705$ 52,933,198$ 43,316,904$ Business-type activities Interest on investments 167,866$ 98,015$ 126,322$ 156,329$ Other - - 4,919,258 4,003,968 Transfers (4,904,089) (7,615,607) (11,719,799) (6,511,026) Total business-type activities (4,736,223) (7,517,592) (6,674,219) (2,350,729) Total primary government 47,312,008$ 44,363,113$ 46,258,979$ 40,966,175$ CHANGES IN NET POSITION Governmental activities 25,117,087$ 28,629,321$ 19,809,829$ 7,998,978$ Business-type activities 18,424,347 78,164,108 10,247,276 9,747,281 Total primary government 43,541,434$ 106,793,429$ 30,057,105$ 17,746,259$ DRAFT Page 154 of 231 120 2011 2010 2009 2008 2007 2006 14,362,895$ 14,360,142$ 14,934,694$ 12,610,638$ 10,737,981$ 8,919,694$ 14,148,242 13,482,999 12,543,071 13,236,686 12,206,099 10,962,790 1,100,490 1,000,571 278,982 1,134,493 1,185,511 844,718 3,874,815 2,603,222 2,801,666 2,739,567 2,083,306 2,209,235 187,314 140,384 504,145 2,222,952 2,085,055 1,398,706 590,398 537,528 3,415,713 803,334 - 463,719 6,871,447 6,637,964 8,184,258 7,129,529 5,987,414 6,230,148 41,135,601$ 38,762,810$ 42,662,529$ 39,877,199$ 31,029,010$ 27,271,143$ 171,947$ 133,132$ 667,389$ 1,018,860$ 1,495,484$ 1,673,167$ 2,971,392 2,835,458 2,580,006 2,295,472 4,417,805 3,938,942 (6,871,447) (6,637,964) (8,184,258) (7,129,529) (5,987,414) (6,230,148) (3,728,108) (3,669,374) (4,936,863) (3,815,197) (618,039) (3,338,087) 37,407,493$ 35,093,436$ 37,725,666$ 36,062,002$ 30,410,971$ 23,933,056$ 6,552,727$ 4,780,366$ 8,635,049$ 12,192,214$ 12,727,682$ 20,452,313$ 7,328,408 12,235,504 24,591,049 16,329,198 23,024,366 12,575,938 13,881,135$ 17,015,870$ 33,226,098$ 28,521,412$ 35,752,048$ 33,028,251$ DRAFT Page 155 of 231 CITY OF GEORGETOWN, TEXAS FUND BALANCES OF GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (MODIFIED ACCRUAL BASIS OF ACCOUNTING) 121 2015 2014 2013 2012 2011 General fund Nonspendable Prepaids and inventory 66,702$ 22,810$ 18,697$ 2,110$ 9,061$ Committed Contingency 7,695,000 7,500,000 7,400,000 7,000,000 6,847,000 Assigned Encumbrances 1,835,134 1,755,953 1,631,482 1,210,247 1,403,968 Unassigned 2,407,019 2,893,916 3,999,924 2,419,053 1,894,618 Total general fund 12,003,855$ 12,172,679$ 13,050,103$ 10,631,410$ 10,154,647$ Other governmental funds Restricted Debt service 1,489,314$ 1,268,186$ 1,109,220$ 1,749,324$ 1,976,586$ Bond funds 15,336,646 14,840,447 15,438,897 18,112,419 17,748,555 Hotel/motel tax 544,252 579,118 515,525 526,488 460,582 Street maintenance tax 2,534,655 2,773,940 5,029,263 4,205,153 3,215,322 Other purposes 344,436 352,032 188,072 244,969 306,926 Committed Other capital projects 8,489,829 12,386,987 12,292,845 8,770,010 10,682,665 Nonmajor funds 4,202,843 4,009,871 2,174,368 2,293,194 1,899,631 Assigned Encumbrances 7,606,841 13,385,685 25,444,232 8,891,080 6,105,133 Unassigned (663,535) - - - - Total all other governmental funds 39,885,281$ 49,596,266$ 62,192,422$ 44,792,637$ 42,395,400$ Note: City of Georgetown first applied GASB Statement No. 54 in fiscal year 2011; therefore, the new fund balance distinctions for years prior to fiscal year 2011 are not available. DRAFT Page 156 of 231 122 2010 2009 2008 2007 2006 General fund Reserved 1,160,195$ 1,001,111$ 955,743$ 1,342,069$ 1,038,758$ Unreserved 8,601,923 9,506,572 10,986,752 9,223,131 7,917,556 Total general fund 9,762,118$ 10,507,683$ 11,942,495$ 10,565,200$ 8,956,314$ Other governmental funds Reserved 30,050,627$ 29,932,873$ 10,889,998$ 20,648,352$ 11,214,177$ Unreserved, reported in Special revenue funds - - - - - Capital projects funds - - 18,173,048 19,043,457 9,778,067 Total all other governmental funds 30,050,627$ 29,932,873$ 29,063,046$ 39,691,809$ 20,992,244$ DRAFT Page 157 of 231 CITY OF GEORGETOWN, TEXAS CHANGES IN FUND BALANCES OF GOVERNMENTAL FUNDS LAST TEN FISCAL YEARS (MODIFIED ACCRUAL BASIS OF ACCOUNTING) 123 2015 2014 2013 2012 REVENUES Property taxes 21,638,850$ 19,921,148$ 17,197,460$ 15,883,636$ Property assessment 1,082,465 1,017,316 387,290 353,269 Sales tax and other taxes 19,165,963 18,655,801 17,790,450 15,698,207 Franchise taxes 4,925,043 4,478,899 4,471,487 3,924,052 Licenses and permits 2,002,380 1,932,563 1,536,660 1,236,478 Charges for service 10,671,299 9,762,561 9,479,669 8,493,243 Fine and forfeitures 586,853 668,566 739,556 682,760 Donations and grants 1,435,279 8,236,215 3,979,292 1,687,184 Investment income 172,952 152,252 212,629 230,788 Other revenue 2,106,152 1,474,961 2,960,559 2,870,008 Total revenues 63,787,236 66,300,282 58,755,052 51,059,625 EXPENDITURES Culture - recreation 10,448,536 9,613,918 9,262,282 8,377,084 Development 2,322,321 2,299,379 1,626,315 2,155,243 Fire services 11,513,926 9,748,456 8,804,938 8,253,567 General government 4,115,280 3,412,293 3,144,173 3,178,251 Highways and streets 6,075,407 8,810,437 3,422,340 5,061,214 Police 13,010,497 11,875,081 11,677,968 10,577,384 Environmental services 5,703,227 5,092,327 4,857,396 4,823,170 Capital outlay 24,006,253 32,164,540 16,760,621 15,938,457 Debt service Principal retirement 7,868,518 7,765,414 6,452,644 5,533,987 Interest and fiscal charges 4,595,331 4,449,327 3,771,791 4,094,247 Total expenditures 89,659,296 95,231,172 69,780,468 67,992,604 Excess (deficiency) of revenues over expenditures (25,872,060) (28,930,890) (11,025,416) (16,932,979) Other financing sources (uses) Transfers in 10,972,315 12,570,645 13,969,841 9,734,354 Transfers out (9,313,269) (7,506,242) (4,331,850) (5,492,299) Premiums on issuance of bonds 1,001,947 - - - Sale of property - 3,550,000 - - Payment to refunding escrow agent (14,098,445) (11,911,063) (11,356,689) (3,416,787) Bonds issued 27,429,703 18,753,970 32,562,592 18,981,711 Total other financing sources (uses)15,992,251 15,457,310 30,843,894 19,806,979 NET CHANGE IN FUND BALANCES (9,879,809)$ (13,473,580)$ 19,818,478$ 2,874,000$ Debt service as a percentage of noncapital expenditures 19.0%19.4%19.3%18.5% DRAFT Page 158 of 231 124 2011 2010 2009 2008 2007 2006 14,591,564$ 14,572,432$ 14,169,419$ 12,703,509$ 10,938,488$ 9,047,916$ 313,093 262,060 278,982 210,659 155,864 173,011 14,724,741 13,987,624 13,289,438 14,000,228 13,053,780 11,495,335 3,874,815 2,603,222 2,801,666 2,739,567 2,083,306 2,209,235 890,948 841,392 791,882 1,158,433 1,527,886 1,723,082 8,199,073 8,157,465 7,687,489 2,289,493 1,830,286 1,067,460 810,950 1,060,361 981,228 1,110,815 1,067,934 907,983 4,121,625 3,078,392 2,058,301 298,803 683,731 168,863 187,313 140,384 737,755 2,222,952 2,085,055 1,398,706 1,735,082 1,585,584 1,897,179 2,823,254 1,112,119 1,428,485 49,449,204 46,288,916 44,693,339 39,557,713 34,538,449 29,620,076 8,229,049 7,773,346 7,535,763 6,325,780 5,397,344 4,968,902 2,195,537 2,088,809 2,213,899 2,454,810 2,611,432 2,127,927 7,725,794 6,909,597 6,597,024 5,380,247 4,903,325 4,171,527 3,595,481 3,288,185 3,324,758 3,038,876 3,018,023 2,302,417 6,044,755 5,171,678 3,840,312 2,768,367 1,739,495 1,761,494 10,221,220 10,026,352 10,137,983 9,222,704 8,162,359 7,070,088 4,321,888 4,199,433 4,285,345 - - - 12,604,835 8,930,286 12,444,569 21,622,846 15,538,147 15,950,142 4,998,369 4,791,550 4,478,467 3,495,684 2,755,592 2,387,035 3,686,318 3,642,426 3,608,738 4,480,504 2,909,116 2,307,846 63,623,246 56,821,662 58,466,858 58,789,818 47,034,833 43,047,378 (14,174,042) (10,532,746) (13,773,519) (19,232,105) (12,496,384) (13,427,302) 7,915,723 8,895,212 10,055,272 10,196,752 7,823,154 8,580,426 (2,654,379) (2,847,628) (3,367,769) (4,658,144) (3,558,105) (3,940,019) - - - - - - - - - 47,029 54,599 31,102 - - - - (3,160,147) (7,736,794) 21,650,000 3,857,351 6,575,000 4,395,000 31,645,334 20,300,000 26,911,344 9,904,935 13,262,503 9,980,637 32,804,835 17,234,715 12,737,302$ (627,811)$ (511,016)$ (9,251,468)$ 20,308,451$ 3,807,413$ 17.0%17.6%17.6%19.5%18.0%17.3% DRAFT Page 159 of 231 CITY OF GEORGETOWN, TEXAS PROPERTY TAX RATES, LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS (MODIFIED ACCRUAL BASIS OF ACCOUNTING) 125 INTEREST AND CURRENT PERCENT FISCAL TAX GENERAL SINKING TOTAL TAX OF LEVY YEAR RATE FUND FUND TAX LEVY COLLECTIONS COLLECTED 2006 0.3462 0.2071 0.1391 9,442,953$ 9,096,910$ 96.34% 2007 0.3673 0.2198 0.1475 11,500,980 11,138,968 96.85% 2008 0.3566 0.2032 0.1534 13,156,096 12,744,960 96.87% 2009 0.3562 0.2005 0.1557 14,828,927 14,349,606 96.77% 2010 0.3562 0.2114 0.1448 15,142,165 14,653,346 96.77% 2011 0.3562 0.2199 0.1363 15,098,808 14,635,299 96.93% 2012 0.3875 0.2229 0.1646 16,444,180 16,050,914 97.61% 2013 0.4100 0.2364 0.1736 17,806,346 17,384,594 97.63% 2014 0.4395 0.2160 0.2235 19,697,573 19,270,107 97.83% 2015 0.4340 0.2074 0.2266 21,383,874 20,968,385 98.06% Source: City of Georgetown Tax Assessor. DRAFT Page 160 of 231 126 TOTAL OUTSTANDING COLLECTIONS DELINQUENT DELINQUENT AS A PERCENT OUTSTANDING TAXES AS A TAX TOTAL TAX OF CURRENT DELINQUENT PERCENT OF COLLECTIONS COLLECTIONS LEVY TAXES CURRENT LEVY 76,076$ 9,172,986$ 97.14% 277,077$ 2.93% 111,061 11,250,029 97.82% 250,951 2.18% 91,036 12,835,996 97.57% 320,807 2.44% 139,828 14,489,434 97.71% 339,493 2.29% 127,176 14,780,522 97.61% 361,643 2.39% 120,092 14,755,391 97.73% 343,417 2.27% 44,797 16,095,711 97.88% 349,082 2.12% 76,902 17,461,496 98.06% 344,851 1.94% 81,450 19,351,557 98.24% 346,016 1.76% 36,825 21,005,210 98.23% 378,664 1.77% DRAFT Page 161 of 231 CITY OF GEORGETOWN, TEXAS ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS 127 PERSONAL PROPERTY ESTIMATED ESTIMATED FISCAL ASSESSED ACTUAL ASSESSED ACTUAL YEAR VALUE (1) VALUE VALUE (1) VALUE 2006 $2,367,099,144 $2,367,099,144 $157,265,408 $157,265,408 2007 2,749,816,041 2,749,816,041 136,821,317 136,821,317 2008 3,330,727,230 3,330,727,230 238,557,091 238,557,091 2009 3,769,863,117 3,769,863,117 244,892,514 244,892,514 2010 3,780,404,329 3,780,404,329 246,488,943 246,488,943 2011 3,786,177,221 3,786,177,221 269,771,730 269,771,730 2012 3,885,150,718 3,885,150,718 311,033,417 311,033,417 2013 4,033,324,389 4,033,324,389 382,683,621 382,683,621 2014 4,227,513,729 4,227,513,729 370,699,347 370,699,347 2015 4,801,066,109 4,801,066,109 326,852,517 326,852,517 Source: City of Georgetown Tax Assessor. (1) Net of exemptions. REAL PROPERTY DRAFT Page 162 of 231 128 TOTAL TOTAL RATIO OF TOTAL ESTIMATED DIRECT ASSESSED VALUE ASSESSED ACTUAL TAX TO TOTAL ESTIMATED VALUE (1)VALUE RATE ACTUAL VALUE $2,524,364,552 $2,524,364,552 0.3462 100.00% 2,886,637,358 2,886,637,358 0.3673 100.00% 3,569,284,321 3,569,284,321 0.3566 100.00% 4,014,755,631 4,014,755,631 0.3562 100.00% 4,026,893,272 4,026,893,272 0.3562 100.00% 4,055,948,951 4,055,948,951 0.3562 100.00% 4,196,184,135 4,196,184,135 0.3875 100.00% 4,416,008,010 4,416,008,010 0.4100 100.00% 4,598,213,076 4,598,213,076 0.4395 100.00% 5,127,918,626 5,127,918,626 0.4340 100.00% DRAFT Page 163 of 231 CITY OF GEORGETOWN, TEXAS PROPERTY TAX RATES – DIRECT AND OVERLAPPING GOVERNMENTS (PER $100 OF ASSESSED VALUE) LAST TEN FISCAL YEARS 129 DEBT GEORGETOWN FISCAL GENERAL SERVICE TOTAL INDEPENDENT WILLIAMSON YEAR FUND FUND CITY SCHOOL DISTRICT COUNTY TOTAL 2006 0.21 0.14 0.35 1.73 0.50 2.58 2007 0.22 0.15 0.37 1.63 0.50 2.50 2008 0.20 0.15 0.35 1.29 0.49 2.13 2009 0.20 0.15 0.35 1.29 0.47 2.11 2010 0.21 0.14 0.35 1.29 0.49 2.13 2011 0.21 0.14 0.35 1.36 0.46 2.17 2012 0.22 0.16 0.38 1.40 0.46 2.24 2013 0.24 0.17 0.41 1.40 0.45 2.26 2014 0.22 0.22 0.44 1.40 0.49 2.33 2015 0.21 0.23 0.44 1.40 0.48 2.32 Source: Information furnished by respective tax assessors. CITY OF GEORGETOWN DRAFT Page 164 of 231 CITY OF GEORGETOWN, TEXAS PRINCIPAL PROPERTY TAXPAYERS CURRENT YEAR & NINE YEARS AGO 130 PERCENTAGE PERCENTAGE OF TOTAL OF TOTAL TYPE OF ASSESSED ASSESSED ASSESSED ASSESSED TAXPAYER BUSINESS VALUE RANK VALUE(1)VALUE RANK VALUE(1) Citigroup Technology Inc Development 90,210,705$ 1 1.72% WPG Wolf Ranch LP Development 64,547,444 2 1.23% 15,683,108$ 2 0.59% St. David's Healthcare Partners Hospital 33,078,706 3 0.63% Citicorp North America Development 31,901,121 4 0.61% The Bassham Trust Development 31,257,791 5 0.60% Two Rivers GT Ltd Development 21,856,089 6 0.42% South Austin Ave Prof Bldg Healthcare 21,262,559 7 0.40% Georgetown Rail & Equipment Co Railroad Solutions 17,244,670 8 0.33% Hewlett Holdings, Ltd Automobile Dealer 16,325,660 9 0.31% 8,867,150 9 0.34% Westinghouse Pointe Apts Apartments 16,130,000 10 0.31% Del Webb Texas Ltd Development 16,709,092 1 0.63% Verizon Southwest Utility 15,156,864 3 0.57% Wal-Mart Real Estate Retail 13,458,930 4 0.51% KH-Georgeotwn Partners Ltd Development 10,562,159 5 0.40% Rivery Towne Crossing LP Development 10,428,931 6 0.39% HE Butt Grocery Company Retail 10,063,953 7 0.38% Rivery Partners Ltd Development 9,919,492 8 0.38% Mak Haik Ford Lincoln Mercury Automobile Dealer 8,761,920 10 0.33% Total 343,814,745$ 6.54% 119,611,599$ 4.53% Source: City Tax Assessor/Collector. (1) The total assessed valuation for the fiscal year ended September 30, 2015 was certified at $5,253,246,873. 2015 2006 DRAFT Page 165 of 231 CITY OF GEORGETOWN, TEXAS TAXABLE SALES BY CATEGORY LAST TEN FISCAL YEARS 131 NAICS Sectors 2015*2014 2013 2012 Agriculture/Forestry/Fishing/Hunting 66$ 448$ -$ 4,825$ Mining, quarrying, oil & gas extraction - - - - Utilities 23,037,250 21,368,744 19,031,408 19,253,904 Construction 33,485,247 33,585,485 5,384,717 4,967,279 Manufacturing 5,902,324 5,486,476 8,554,720 4,585,577 Wholesale trade 14,252,684 14,122,397 16,091,304 16,186,257 Retail trade 505,621,582 468,668,683 446,244,500 405,055,103 Transportation, warehousing 1,070,193 1,316,100 1,218,175 1,242,589 Information 43,041,680 40,292,168 33,781,552 30,485,692 Finance, insurance 653,425 578,893 563,947 482,899 Real estate, rental, leasing 2,641,793 3,000,201 2,370,540 2,165,251 Professional, scientific, technical svcs 7,881,579 7,237,174 8,234,560 7,522,451 Management of companies, enterprises - - - - Admin, support, waste mgmt, remediation svcs 5,501,173 4,548,385 4,190,713 3,601,364 Educational svcs 318,779 344,038 359,795 372,185 Healthcare, social assistance 455,525 279,142 213,183 308,645 Arts, entertainment, recreation 12,822,881 11,347,603 11,787,222 11,914,044 Accommodation, food services 115,159,192 104,451,832 97,227,191 86,308,956 Other svcs (except public administration)28,376,223 28,483,626 24,097,238 18,603,403 Public administration 42,197 31,222 53,482 20,023 Other 324 - - - Total 800,264,118$ 745,142,617$ 679,404,247$ 613,080,447$ City direct sales tax rate 2.00%2.00%2.00%2.00% Source: Window on State Government - Susan Combs, Texas Comptroller of Public Accounts website. Amounts subject to sales tax have been restated by the state since the 2012 CAFR release. Notes: All reporting is by North American Industry Classification System (NAICS) sector. Standard Industrial Classification (SIC) Codes are no longer being assigned to taxpayers. *2015 is projected as 4th Quarter actuals were not in at time of update. DRAFT Page 166 of 231 132 2011 2010 2009 2008 2007 2006 -$ -$ -$ -$ -$ -$ - - 445,156 416,435 - 7,434,128 18,628,820 20,319,600 18,647,965 16,475,883 13,957,517 13,957,517 4,002,432 3,625,542 4,250,912 4,361,179 4,620,912 7,167,280 5,873,390 6,061,597 5,748,311 9,390,419 8,796,766 3,667,839 14,174,184 10,063,489 13,253,476 16,269,671 23,911,829 19,394,697 378,427,824 380,552,640 367,257,156 383,981,936 367,740,330 343,600,743 1,061,271 767,634 1,178,847 1,558,622 1,926,996 1,471,067 29,916,065 27,915,345 26,448,683 26,845,497 24,852,272 22,752,620 424,931 459,699 380,069 357,522 358,689 382,058 3,781,875 2,716,214 2,389,616 2,862,995 4,007,642 6,328,408 5,292,086 5,294,148 4,586,618 6,435,627 6,124,832 6,206,899 - - - - - - 3,359,965 3,464,947 3,141,955 3,658,966 3,155,585 3,581,585 154,882 28,427 46,588 4 0,108 28,053 18,923 444,834 389,729 283,517 221,776 167,879 162,620 11,362,973 10,983,705 10,424,729 9,975,461 7,972,749 4,718,667 81,339,685 76,959,382 75,006,166 74,477,233 66,071,016 56,700,789 16,990,190 15,102,925 14,421,211 14,341,106 14,192,006 12,205,808 31,428 34,518 33,271 24,072 - 2,624,994 1,198 547 - 6,797 647 11,700 575,268,033$ 564,740,088$ 547,944,246$ 571,701,305$ 547,885,720$ 512,388,342$ 2.00%2.00%2.00%2.00%2.00%1.75% DRAFT Page 167 of 231 CITY OF GEORGETOWN, TEXAS DIRECT AND OVERLAPPING SALES TAX RATES LAST TEN FISCAL YEARS 133 CITY FISCAL DIRECT STATE OF YEAR RATE TEXAS 2006 2% 6.25% 2007 2% 6.25% 2008 2% 6.25% 2009 2% 6.25% 2010 2% 6.25% 2011 2% 6.25% 2012 2% 6.25% 2013 2% 6.25% 2014 2% 6.25% 2015 2% 6.25% Source: Information furnished by City of Georgetown.DRAFT Page 168 of 231 CITY OF GEORGETOWN, TEXAS SALES TAX REVENUE PAYERS BY INDUSTRY FISCAL YEARS 2015 AND 2006 134 Number Percent Tax Percent NAICS Sectors of Filers of Total Liability of Total Agriculture/Forestry/Fishing/Hunting 3 0.18%66$ -$ 0.00% Mining, quarrying, oil & gas extraction 2 0.12%- - 0.00% Utilities 7 0.43% 23,037,250 460,745 2.88% Construction 113 6.96% 33,485,247 669,705 4.18% Manufacturing 96 5.91% 5,902,324 118,046 0.74% Wholesale trade 58 3.57% 14,252,684 285,054 1.78% Retail trade 597 36.76% 505,621,582 10,112,432 63.18% Transportation, warehousing 15 0.92% 1,070,193 21,404 0.13% Information 25 1.54% 43,041,680 860,834 5.38% Finance, insurance 15 0.92% 653,425 13,069 0.08% Real estate, rental, leasing 28 1.72% 2,641,793 52,836 0.33% Professional, scientific, technical svcs 124 7.64% 7,881,579 157,632 0.98% Management of companies, enterprises 1 0.06%- - 0.00% Admin, support, waste mgmt, remediation svcs 98 6.03% 5,501,173 110,023 0.69% Educational svcs 9 0.55% 318,779 6,376 0.04% Healthcare, social assistance 25 1.54% 455,525 9,111 0.06% Arts, entertainment, recreation 43 2.65% 12,822,881 256,458 1.60% Accommodation, food services 166 10.22% 115,159,192 2,303,184 14.39% Other svcs (except public administration)147 9.05% 28,376,223 567,524 3.55% Public administration 6 0.37%42,197 844 0.01% Other 46 2.83%324 - 0.00% Totals 1,624 100.00% 800,264,118$ 16,005,275$ 100.00% Number Percent Tax Percent NAICS Sectors of Filers of Total Liability of Total Agriculture/Forestry/Fishing/Hunting 2 0.18%-$ -$ 0.00% Mining, quarrying, oil & gas extraction 3 0.27% 7,434,128 - 0.00% Utilities 7 0.62% 13,957,517 - 0.00% Construction 90 7.96% 7,167,280 125,427 1.46% Manufacturing 63 5.58% 3,667,839 64,187 0.75% Wholesale trade 53 4.69% 19,394,697 339,407 3.95% Retail trade 450 39.82% 343,600,743 6,013,013 69.98% Transportation, warehousing 24 2.12% 1,471,067 25,744 0.30% Information 20 1.77% 22,752,620 398,171 4.63% Finance, insurance 9 0.80% 382,058 6,686 0.08% Real estate, rental, leasing 23 2.04% 6,328,408 110,747 1 .29% Professional, scientific, technical svcs 98 8.67% 6,206,899 108,621 1.26% Management of companies, enterprises 1 0.09%- - 0.00% Admin, support, waste mgmt, remediation svcs 98 8.67% 3,581,585 62,678 0.73% Educational svcs 7 0.62%18,923 - 0.00% Healthcare, social assistance 16 1.42% 162,620 2,846 0.03% Arts, entertainment, recreation 24 2.12% 4,718,667 82,577 0.96% Accommodation, food services 24 2.12% 56,700,789 992,264 11.55% Other svcs (except public administration)96 8.50% 12,205,808 213,602 2.49% Public administration 3 0.27% 2,624,994 45,937 0.53% Other 19 1.68%11,700 205 0.00% Totals 1,130 100.00% 512,388,342$ 8,592,111$ 100.00% Source: Window on State Government. are not available. The categories presented are intended to provide alternative information regarding the sources of the City's revenue. All reporting is now by North American Industry Classification System (NAICS) sectors. Standard Industrial Classification (SIC) Codes are no longer being assigned to taxpayers, and data on SIC filers is no longer available. 2015 * 2006 Notes: The City direct sales tax rate for 2015 and 2006 is 2% and 1.75%, respectively. Due to confidentiality issues, the names of the ten largest DRAFT Page 169 of 231 CITY OF GEORGETOWN, TEXAS RATIOS OF OUTSTANDING DEBT BY TYPE LAST TEN FISCAL YEARS 135 General Sales Tax General Fiscal Obligation Revenue Capital Revenue Obligation Year Bonds Bonds Leases Bonds Bonds 2006 54,429,567$ -$ 142,633$ 45,885,000$ 4,265,434$ 2007 68,855,734 11,330,000 74,944 51,070,000 4,539,267 2008 69,970,050 11,115,000 12,831 57,280,000 4,984,950 2009 73,008,888 10,715,000 - 53,640,000 10,096,112 2010 72,532,310 10,300,000 - 59,825,000 13,777,690 2011 89,613,941 9,870,000 - 55,945,000 12,981,059 2012 100,356,664 9,420,000 - 51,425,000 11,618,336 2013 116,738,088 8,955,000 - 48,090,268 14,551,893 2014 116,200,602 8,470,000 - 61,885,000 13,884,399 2015 122,965,751 7,755,000 - 67,910,000 16,414,254 Note: Details regarding the City's outstanding debt can be found in the notes to the financial statements. Business-Type ActivitiesGovernmental Activities DRAFT Page 170 of 231 136 Total Percentage Primary of Personal Per Government Income Capita 104,722,634$ 13.44%2,530$ 135,869,945 11.73%3,080 143,362,831 11.97%3,136 147,460,000 11.61%3,152 156,435,000 11.56%3,268 168,410,000 11.63%3,444 172,820,000 11.97%3,469 188,335,249 11.84%3,728 200,440,001 11.15%3,839 215,045,005 10.28%3,786 DRAFT Page 171 of 231 CITY OF GEORGETOWN, TEXAS RATIOS OF NET GENERAL OBLIGATION BONDED DEBT TO ASSESSED VALUE AND NET GENERAL OBLIGATION BONDED DEBT PER CAPITA LAST TEN FISCAL YEARS 137 TAXABLE ASSESSED GROSS LESS DEBT FISCAL ASSESSED VALUATION BONDED SERVICE FUNDS YEAR POPULATION VALUE (1)PER CAPITA DEBT (2)AVAILABLE 2006 41,395 2,524,364,552$ 60,982$ 58,695,001$ 878,668$ 2007 44,117 2,886,637,358 65,431.41 73,395,001 1,329,213 2008 45,710 3,569,284,321 78,085.42 74,955,000 1,224,087 2009 46,787 4,014,755,631 85,809.21 83,105,000 2,530,149 2010 47,865 4,026,893,772 84,130.24 86,310,000 2,274,235 2011 48,902 4,055,948,951 82,940.35 102,595,000 1,976,586 2012 49,543 4,196,184,135 84,697.82 111,975,000 1,749,324 2013 50,513 4,416,008,010 87,423.20 131,190,000 1,109,220 2014 52,214 4,598,213,076 88,064.75 130,085,001 1,268,186 2015 56,798 5,127,918,626 90,283.44 139,380,005 1,489,313 (1) Net of exemptions. (2) Includes all long-term general obligation debt. (3) Less debt service funds available. Sources: City of Georgetown Planning and Development Division and the Georgetown Chamber of Commerce. Notes: Details regarding the City's outstanding debt can be found in the notes to the financial statements. DRAFT Page 172 of 231 138 RATIO OF NET RATIO OF GROSS NET BONDED DEBT BONDED DEBT NET BONDED TOTAL BONDED BONDED TO ASSESSED TO ASSESSED DEBT PER DEBT PER DEBT VALUE (3)VALUE (3)CAPITA (3)CAPITA (3) 36,705,188$ 1.45%2.29%886.71$ 1,396.70$ 46,457,633 1.61%2.50%1,053.06 1,633.52 52,564,440 1.47%2.07%1,149.95 1,613.01 54,882,326 1.37%2.01%1,173.03 1,722.16 55,291,719 1.37%2.09%1,155.16 1,755.68 73,396,051 1.81%2.48%1,500.88 2,057.55 83,698,631 1.99%2.63%1,689.41 2,224.85 101,604,245 2.30%2.95%2,011.45 2,575.19 128,816,815 2.80%2.80%2,467.09 2,467.09 137,890,692 2.69%2.69%2,427.74 2,427.74 DRAFT Page 173 of 231 CITY OF GEORGETOWN, TEXAS COMPUTATION OF DIRECT AND ESTIMATED OVERLAPPING BONDED DEBT LAST TEN FISCAL YEARS 139 DEBT CITY'S SHARE (2) PER TAXING BODY AMOUNT AS OF PERCENT AMOUNT CAPITA (1) ESTIMATED OVERLAPPING DEBT: Georgetown I.S.D.204,585,000$ December 31, 2015 88.11%180,269,921$ 3,174$ Williamson County 1,032,015,301 * September 30, 2015 11.61%119,808,697 2,109 Total estimated overlapping debt 1,236,600,301 24.27%300,078,618 5,282 DIRECT DEBT - City of Georgetown 130,720,746 September 30, 2015 100.00%130,720,746 2,302 DIRECT AND ESTIMATED OVERLAPPING DEBT 1,367,321,047$ 430,799,364$ 7,584$ RATIO OF DIRECT AND OVERLAPPING TAX SUPPORTED DEBT TO TAXABLE ASSESSED VALUATION Source: Jurisdiction listed. (1) GISD population - 64,482 (estimate) Williamson County population - 489,250 City of Georgetown population - 56,798 (2) Information represents the share of the respective debt which are obligations of the citizens of the City of Georgetown * Includes Williamson County and Avery Ranch DRAFT Page 174 of 231 This page intentionally left blank. DRAFT Page 175 of 231 CITY OF GEORGETOWN, TEXAS COMPUTATION OF LEGAL DEBT MARGIN LAST TEN FISCAL YEARS 140 2015 2014 2013 2012 Debt Limit 57,689,085$ 51,729,897$ 49,680,090$ 47,207,072$ Total net debt applicable to limit (1)6,652,866 6,521,597 8,570,145 7,350,236 Legal debt margin 51,036,219$ 45,208,300$ 41,109,945$ 39,856,836$ Total net debt applicable to limit as a percentage of debt limit 11.53%12.61%17.25%15.57% ASSESSED VALUATION 2015 5,127,918,626$ Allowable tax levy for annual debt service purpose: $1.25 per $100 of assessed valuation, assuming 90% 57,689,085$ collection rate 2015 annual debt service requirements for general obligation debt: Principal 6,652,866$ Interest and fiscal charges 4,107,267 10,760,133 Legal margin for annual debt service requirements 46,928,952$ NOTE: All taxable property within the City is subject to the assessment levy and collection by the City of a continuing, direct annual ad valorem tax sufficient to provide for the payment of principal and interest on the Bonds within the limits prescribed by law. Article XI, Section 5, of the Texas Constitution is applicable to the City, and limits the maximum ad valorem tax rate to $2.50 per $100 assessed valuation (for all City purposes). The Charter of the City adopts the provisions of the constitution without further limitation. Under rules promulgated by the Office of the Attorney General of Texas, such office will not approve tax bonds of the City unless the City can demonstrate its ability to pay debt service requirements on all outstanding City tax bonds, including the issue to be approved, from a tax levy of $1.25 per $100 of valuation, based on 90% collection of tax. (1) The legal margin computation includes the general obligation debt that will be repaid by self-supporting sources such as the Airport, Stormwater Drainage and Georgetown Transportation Enhancement Corporation (GTEC) funds. DRAFT Page 176 of 231 141 2011 2010 2009 2008 2007 2006 45,629,426$ 45,302,549$ 45,166,001$ 40,154,449$ 32,474,670$ 28,399,101$ 8,640,634 8,043,904 7,664,261 7,614,171 5,278,417 4,916,116 36,988,792$ 37,258,645$ 37,501,740$ 32,540,278$ 27,196,253$ 23,482,985$ 18.94%17.76%16.97%18.96%16.25%17.31% DRAFT Page 177 of 231 CITY OF GEORGETOWN, TEXAS REVENUE BOND COVERAGE UTILITY FUNDS (1) LAST TEN FISCAL YEARS 142 OPERATING EXPENSES NET REVENUE FISCAL ELIGIBLE INTEREST (EXCLUDING AVAILABLE FOR YEAR REVENUES EARNINGS DEPRECIATION) DEBT SERVICE 2006 66,723,744$ 1,600,113$ 46,356,026$ 21,967,831$ 2007 69,197,587 1,408,260 48,565,015 22,040,832 2008 78,404,586 955,680 57,922,907 21,437,359 2009 83,485,213 392,080 58,695,917 25,181,376 2010 84,948,916 116,458 59,828,974 25,236,400 2011 88,605,410 159,888 65,271,517 23,493,781 2012 89,907,801 144,460 66,531,990 23,520,271 2013 86,876,459 118,277 58,803,394 28,191,342 2014 93,979,191 93,850 72,927,251 21,145,790 2015 106,686,101 164,921 78,010,309 28,840,713 Source: Finance and Administration Division. Notes: (1) Electric, Water and Wastewater only. DRAFT Page 178 of 231 143 DEBT SERVICE REQUIREMENTS INTEREST AND TIMES PRINCIPAL FISCAL CHARGES TOTAL COVERAGE 3,049,012$ 2,006,822$ 5,055,834$ 4.35 2,721,700 2,086,849 4,808,549 4.58 3,200,000 2,631,311 5,831,311 3.68 3,640,000 2,338,048 5,978,048 4.21 3,935,000 2,065,384 6,000,384 4.21 3,880,000 1,859,107 5,739,107 4.09 4,255,000 1,742,974 5,997,974 3.92 3,970,000 1,963,653 5,933,653 4.75 15,775,000 1,852,459 17,627,459 1.20 10,920,000 2,457,650 13,377,650 2.16 DRAFT Page 179 of 231 CITY OF GEORGETOWN, TEXAS UTILITY SYSTEM CONDENSED STATEMENT OF OPERATIONS (1) FOR THE LAST TEN FISCAL YEARS 144 2015 2014 2013 2012 Revenues: Water System 26,358,532$ 24,953,208$ 24,930,408$ 25,026,601$ Electric System 60,870,094 58,017,664 53,780,319 58,403,735 Miscellaneous 14,746,510 4,997,415 4,888,117 3,966,677 Interest Earnings 164,921 93,850 118,277 144,460 Total revenues 102,140,057 88,062,137 83,717,121 87,541,473 Expenses: (1) Water System 11,885,339 8,561,671 7,737,541 7,053,864 Electric System 8,259,062 7,056,224 7,265,433 8,828,039 Utility Contracts 55,419,233 55,147,284 43,800,420 50,650,087 Total expenses 75,563,634 70,765,179 58,803,394 66,531,990 NET AVAILABLE FOR DEBT SERVICE 26,576,423$ 17,296,958$ 24,913,727$ 21,009,483$ Notes: 1) Excludes depreciation costs 2) Electric, Water & Wastewater only Information provided to comply with continuing disclosure requirements of SEC Rule 15c2-12. Average Annual Principal and Interest Requirements, 2016-2035 5,060,277$ Coverage of Average Requirements by Fiscal Year 2015 Net Income 5.25 Maximum Principal and Interest Requirements, 2016 8,095,273$ Coverage of Maximum Requirements by Fiscal Year 2015 Net Income 3.28 DRAFT Page 180 of 231 145 2011 2010 2009 2008 2007 2006 25,896,644$ 20,632,604$ 22,200,768$ 21,424,897$ 18,725,977$ 19,709,559$ 57,694,311 59,058,745 56,154,879 51,833,477 42,805,466 41,338,196 2,927,695 2,789,797 2,779,486 5,146,212 7,666,144 5,675,987 159,888 116,458 392,080 955,680 1,408,260 1,600,113 86,678,538 82,597,604 81,527,213 79,360,266 70,605,847 68,323,855 7,708,924 6,677,890 6,875,473 6,249,197 3,166,679 3,192,839 5,554,896 4,821,255 5,270,740 1,230,199 4,275,353 3,360,467 52,007,697 48,329,829 46,549,704 50,443,511 41,122,983 39,802,720 65,271,517 59,828,974 58,695,917 57,922,907 48,565,015 46,356,026 21,407,021$ 22,768,630$ 22,831,296$ 21,437,359$ 22,040,832$ 21,967,829$ DRAFT Page 181 of 231 CITY OF GEORGETOWN, TEXAS UTILITY SYSTEM CONDENSED STATEMENT OF OPERATIONS (2) FOR THE LAST TEN FISCAL YEARS 146 2015 2014 2013 2012 Utility system (1)457,712,841$ 424,822,231$ 338,199,636$ 313,923,709$ Less: Accumulated depreciation (110,006,443) (99,974,691) (91,339,365) (82,719,027) Net value of system 347,706,398 324,847,540 246,860,271 231,204,682 Plus: Construction fund 5,468,908 4,910,605 12,193,462 22,866,932 Net plant 353,175,306 329,758,145 259,053,733 254,071,614 Plus: Working capital 65,108,279 51,655,164 35,992,864 33,419,764 Total 418,283,585 381,413,309 295,046,597 287,491,378 Revenue bond debt (2)79,967,207 74,051,097 59,028,078 59,050,004 CITY'S EQUITY IN SYSTEM 338,316,378$ 307,362,212$ 236,018,519$ 228,441,374$ PERCENTAGE CITY'S EQUITY IN SYSTEM 80.88%80.59%79.99%79.46% Notes: (1) Electric, Water and Wastewater Funds only (2) Changes in bond ordinances no longer require reservation of interest and sinking or reserve funds for utility revenue debt. Information provided to comply with continuing disclosure requirements of SEC Rule 15c2-12. DRAFT Page 182 of 231 147 2011 2010 2009 2008 2007 2006 306,424,774$ 286,216,930$ 273,482,065$ 251,560,756$ 215,276,162$ 185,294,457$ (76,797,760) (67,645,584) (58,659,325) (53,420,721) (51,053,351) (45,184,081) 229,627,014 218,571,346 214,822,740 198,140,035 164,222,811 140,110,376 11,692,027 14,038,615 10,101,805 5,280,337 5,820,263 9,470,135 241,319,041 232,609,961 224,924,545 203,420,372 170,043,074 149,580,511 35,700,091 40,784,075 27,713,059 29,899,639 28,736,708 30,833,629 277,019,132 273,394,036 252,637,604 233,320,011 198,779,782 180,414,140 64,540,000 68,809,999 59,589,999 57,280,000 51,070,000 45,885,000 212,479,132$ 204,584,037$ 193,047,605$ 176,040,011$ 147,709,782$ 134,529,140$ 76.70%74.83%76.41%75.45%74.31%74.57% DRAFT Page 183 of 231 CITY OF GEORGETOWN, TEXAS DEMOGRAPHIC & ECONOMIC STATISTICS LAST TEN FISCAL YEARS 148 Per Capita Fiscal Personal Personal School Unemployment Year Population Income Income Enrollment Rate 2006 41,395 1,407,016,050$ 33,990$ 9,400 4.09% 2007 44,117 1,593,550,157 36,121 9,900 3.80% 2008 45,710 1,715,907,690 37,539 10,000 4.10% 2009 46,787 1,711,983,117 36,591 10,000 4.10% 2010 47,865 1,808,004,645 37,773 10,300 5.84% 2011 48,902 1,959,356,434 40,067 10,470 7.08% 2012 49,543 2,090,070,541 42,187 10,396 7.08% 2013 50,513 2,097,602,838 41,526 10,396 5.70% 2014 52,214 2,234,028,204 42,786 10,582 5.30% 2015 56,798 2,211,600,524 38,938 10,924 3.70% Sources: Population: City of Georgetown Planning and Development Division. Per Capita Personal Income: U.S. Dept. of Commerce / Bureau of Economic Analysis School Enrollment: Georgetown Independent School District. Unemployment Rate: Texas Workforce Commission, Labor Market and Career Information TRACER. Notes: Per capita personal income is for Williamson County and reflects estimates available as of Nov 19, 2015. Population for 2015 reflects city's population estimate for month ending Sep 30, 2015. Personal income calculated using city's population estimate and per capita income data. DRAFT Page 184 of 231 CITY OF GEORGETOWN, TEXAS PRINCIPAL EMPLOYERS CURRENT YEAR AND NINE YEARS AGO 149 Percentage Percentage of Total City of Total City Employer Employees Rank Employment Employees Rank Employment Williamson County Govt 1,582 1 2.89%1,300 2 3.28% Georgetown ISD 1,550 2 2.83%1,420 1 3.59% City of Georgetown 670 3 1.22%453 6 1.14% St. David's Hospital 512 4 0.94%600 3 1.51% Airborn, Inc 482 5 0.88%230 10 0.58% Southwestern University 450 6 0.82%583 4 1.47% Wesleyan Homes 340 7 0.62%240 9 0.61% HE Butt Grocery 283 8 0.52%477 5 1.20% Caring Home Health 269 9 0.49%- 0.00% Sun City (Del Webb)170 10 0.31%240 8 0.61% Walmart 306 7 0.77% Totals 6,308 11.53%5,849 14.77% Source: Economic Development Department 2015 2006 DRAFT Page 185 of 231 CITY OF GEORGETOWN, TEXAS FULL TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION LAST TEN FISCAL YEARS 150 2015 2014 2013 2012 Function General Government Culture & Recreation Administration 5.00 3.50 3.50 3.00 Parks 21.50 20.50 20.50 22.50 Recreation 41.50 38.50 38.50 38.50 Rec. Programs 4.00 3.50 3.50 3.00 Library 21.50 21.50 21.50 22.50 Development Administration - - - - Planning 9.00 8.00 8.00 11.00 Current Planning - - - - Long Range Planning - - - - Inspection Svcs.10.00 10.00 10.00 12.00 Code Enforcement 5.00 4.00 4.00 4.00 Environmental Environmental Svcs.1.00 1.00 1.00 1.00 Fire Services Fire Based Paramedic Progra 15.00 - - - Support Svcs. 13.00 7.00 6.00 7.00 Emergency Svcs. 81.00 86.00 84.00 84.00 General Government General Government 3.00 2.00 2.00 2.00 City Secretary 5.00 4.00 - - City Council - - 3.00 3.00 City Manager's Office 4.00 4.50 5.50 3.50 Highways / Streets Transportation Admin. 3.00 3.00 2.00 2.00 Streets 18.75 18.75 18.75 18.75 Police Services Administration 4.00 4.00 4.00 5.00 Support Svcs. - - - - Field Operations 101.50 98.00 98.00 99.00 Animal Svcs. 10.50 10.50 9.25 8.50 Municipal Court 7.00 7.00 6.00 7.00 Fleet Services 8.00 8.00 8.00 6.50 Facilities Maintenance 7.00 7.00 6.00 7.00 Information Technology 18.00 16.00 13.00 12.50 Joint Svcs. 92.00 86.50 81.50 77.50 Water 36.50 18.50 18.50 18.50 Sewer 14.00 14.00 14.00 14.00 El ectric 59.50 56.50 53.50 48.50 Other Enterprises 13.00 13.00 11.00 11.00 Total 632.25 574.75 554.50 552.75 Source: City Finance & Administration Division. Notes: A full-time employee is scheduled to work 2,080 hours per year (including vacation and sick leave). Full-time equivalent employment is calculated by dividing total labor hours by 2,080. DRAFT Page 186 of 231 151 2011 2010 2009 2008 2007 2006 - - - - - - 22.50 22.50 22.50 22.50 20.50 21.50 38.50 36.50 36.50 27.50 27.50 25.50 3.00 3.00 3.00 4.00 3.00 3.00 21.50 21.50 21.50 21.50 21.50 17.50 2.00 2.00 2.00 - - - 11.00 11.00 14.00 13.00 14.00 - - - - - - 9.00 - - - - - 4.00 13.00 13.00 13.00 13.00 12.00 11.00 6.00 6.00 6.00 6.00 6.00 5.50 1.00 1.00 1.00 - - - - - - - - - 6.00 6.00 6.00 6.00 3.00 3.00 81.00 81.00 72.00 66.00 61.00 56.00 2.00 - - - - - - - - - - - 2.00 2.00 2.00 2.00 3.00 1.00 5.50 6.00 8.00 8.00 7.50 6.50 1.00 3.00 3.00 3.00 - - 18.75 18.75 18.75 15.75 15.75 14.75 5.00 9.00 10.00 8.00 8.00 8.00 - - 34.00 36.00 26.00 31.00 99.00 95.00 60.00 60.00 56.00 47.00 8.50 8.00 8.00 8.00 7.50 7.50 7.00 7.00 7.00 7.00 7.00 5.00 6.00 6.00 6.00 6.00 6.00 5.00 7.00 7.00 7.00 7.00 5.00 4.00 12.50 12.50 10.50 10.50 10.00 10.00 75.50 74.00 69.00 62.00 58.00 56.00 20.00 18.00 15.00 13.00 16.00 14.00 14.00 12.00 12.00 12.00 13.00 12.00 44.00 47.00 48.00 42.00 39.00 30.00 11.00 11.00 11.00 12.00 12.00 11.00 544.25 539.75 526.75 491.75 458.25 418.75 DRAFT Page 187 of 231 CITY OF GEORGETOWN, TEXAS OPERATING INDICATORS BY FUNCTIONS LAST TEN FISCAL YEARS 152 Function 2015 2014 2013 2012 Culture and recreation Recreation Center memberships 11,604 9,901 10,678 13,769 CVB number of visitor inquiries 55,156 54,188 50,617 42,901 Library Circulation 527,987 559,209 550,683 552,032 Number of patrons added 3,428 2,161 2,446 2,526 Economic Development Number of proposals generated 56 44 48 38 Community Development Inspections/Code Enforcement Number of inspections 31,828 29,818 30,282 21,270 New residential permits issued 718 701 777 664 New commercial permits issued/TFO/Industrial 92 92 61 89 Number of code enforcement violations 14,052 16,213 15,225 11,535 Planning and Development Services Development applications filed 373 370 313 290 Annexations (in acres)2,022 152 161 61 Fire Services Number of calls for service 7,084 6,250 6,153 5,706 General Govt Bond rating - S&P AA+AA+AA+AA+ City Manager's Office Number of public information requests processed 1,129 871 678 759 Police Services Number of calls for service 24,744 23,044 22,747 23,018 Number of traffic accidents 2,091 1,940 1,888 1,679 Animal Services Number of pets impounded 1,889 1,860 1,664 1,670 Number of adoptions 983 904 690 822 Municipal Court Number of court cases 5,641 7,658 7,833 7,347 Number of warrants served 374 349 398 313 Utility Office Number of utility customers 38,450 28,400 27,559 26,345 Water Number of new connects 1,909 1,455 909 705 Average daily water treated (million gallons)15.78 16.18 16.30 15.18 Average daily consumption (million gallons)15.87 12.84 13.20 13.05 Sewer Number of new connects 1,154 1,295 955 939 Average daily wastewater treated (million gallons)4.62 4.06 4.10 4.21 Electric kWhs consumed 590,029,360 565,518,133 544,339,879 537,985,801 Number of new connects 1,230 598 484 226 AMR Total number of work orders completed 1,489 1,554 1,113 826 Total reads by AMR 568,896 542,058 616,296 - Other Enterprises Stormwater & Drainage Number of detention ponds cleaned 454 422 404 372 Number of work orders 489 530 710 552 Airport Gallons of fuel sold 636,128 648,065 565,851 581,450 Sources: Various City departments DRAFT Page 188 of 231 153 2011 2010 2009 2008 2007 2006 16,044 16,778 18,497 5,487 5,060 4,294 35,749 27,086 38,669 45,044 36,086 37,062 527,746 524,610 496,603 431,294 386,948 347,662 2,184 2,293 2,338 2,514 2,592 1,784 36 31 40 35 51 72 18,383 20,192 21,248 33,198 43,006 47,197 509 550 523 768 902 1,316 97 115 127 77 114 152 11,090 12,295 13,179 10,570 12,928 15,603 284 158 246 344 348 397 703 276 1,005 369 362 8,909 5,674 5,649 5,475 5,321 4,766 4,257 AA+AA+AA+AA AA-AA- 835 997 887 801 773 786 22,161 31,908 34,192 51,033 53,323 48,739 1,525 1,743 1,750 1,837 1,863 1,513 1,560 1,477 1,256 1,500 1,448 1,452 686 601 560 614 611 642 8,902 13,778 13,333 13,275 14,787 13,824 587 693 774 748 557 398 25,563 24,995 24,271 23,678 22,784 21,365 530 447 469 880 1,213 1,281 16.72 11.82 14.44 15.57 10.31 11.88 14.49 10.65 13.14 13.35 8.21 10.30 523 451 444 846 1,422 1,307 4.24 4.43 3.22 3.48 4.27 2.95 547,475,852 518,590,777 490,449,481 501,552,786 441,088,000 419,651,791 477 543 550 999 1,093 1,134 2,419 2,495 2,903 5,141 3,724 6,106 - -- - - 34,781 372 382 300 228 228 228 196 418 376 617 728 705 765,839 636,773 647,736 723,669 721,657 773,340 DRAFT Page 189 of 231 CITY OF GEORGETOWN, TEXAS CAPITAL ASSETS BY FUNCTIONS LAST TEN FISCAL YEARS 154 Function 2015 2014 2013 2012 Culture and recreation Parks (developed acres)480 473 473 473 Recreation Centers 1 1 1 1 Senior Centers 1 1 1 1 Libraries 1 1 1 1 Fire Services Fire stations 5 5 5 5 Fire vehicles 34 29 25 22 Highways and streets Center line miles 312 310 310 305 Police Services Police Stations 1 1 1 1 Police vehicles 84 84 87 87 Police motorcycle units 6 6 4 4 Electric Meters 24,147 22,918 22,660 22,504 Sources: Various City departments and City budget document.DRAFT Page 190 of 231 155 2011 2010 2009 2008 2007 2006 473 473 473 410 390 380 1 1 1 1 1 1 1 1 1 - - - 1 1 1 1 1 1 4 4 4 3 3 3 18 17 17 17 15 14 295 307 284 269 260 251 1 1 1 1 1 1 93 95 95 95 93 78 4 4 4 4 4 4 22,090 21,711 21,338 20,965 20,179 19,369 DRAFT Page 191 of 231 CITY OF GEORGETOWN, TEXAS WATER USAGE (GALLONS) LAST TEN FISCAL YEARS 156 AVERAGE DAY PEAK DAY TOTAL FISCAL USAGE PRODUCTION USAGE YEAR (000s) (000s) (000s) 2006 12,260 25,600 4,511,000 2007 10,314 19,733 3,764,765 2008 14,490 28,390 5,419,616 2009 11,290 25,870 5,011,889 2010 12,925 24,617 4,732,462 2011 14,024 26,778 5,955,541 2012 16,152 30,058 5,748,912 2013 15,976 28,818 5,121,278 2014 15,987 28,687 4,750,902 2015 15,875 35,394 5,794,201 Source: City of Georgetown DRAFT Page 192 of 231 CITY OF GEORGETOWN, TEXAS TEN LARGEST WATER CUSTOMERS(1) FISCAL YEAR ENDED 2015 157 WATER USAGE % OF TOTAL CUSTOMER (1,000 GALLONS) WATER USAGE SOUTHWEST MATERIALS 129,947 2.68% SOUTHWESTERN UNIVERSITY 54,666 1.13% CITY OF GEORGETOWN 50,746 1.05% GEORGETOWN ISD 46,595 0.96% CITICORP OF N AMERICA, INC 43,917 0.91% SUN CITY TX COMM ASSOC 38,674 0.80% WILLIAMSON COUNTY 34,858 0.72% SIMON PROPERTY GROUP 22,586 0.47% GEORGETOWN HOSPITAL 19,861 0.41% COLSON & COLSON 18,111 0.37% TOTAL 459,961 9.50% Source: City of Georgetown Customer Care fiscal year 2015 figures. (1) Fiscal year 2015 figures. Based on total consumption of 4,840,010 kgals. DRAFT Page 193 of 231 CITY OF GEORGETOWN, TEXAS DAILY FLOW (WASTEWATER TREATMENT) LAST TEN FISCAL YEARS 158 FISCAL YEAR GALLONS 2006 3,020,000 2007 4,572,400 2008 3,370,000 2009 3,580,000 2010 4,188,000 2011 3,327,000 2012 3,594,000 2013 3,641,000 2014 4,260,000 2015 4,607,964 Source: City of Georgetown AVERAGE DAILY WASTEWATER FLOW DRAFT Page 194 of 231 CITY OF GEORGETOWN, TEXAS TEN LARGEST WASTEWATER CUSTOMERS(1) SEPTEMBER 30, 2015 159 VOLUME CUSTOMER (1,000 GALLONS) % OF TOTAL CITICORP OF N AMERICA, INC 39,974 2.38% SOUTHWESTERN UNIVERSITY 34,365 2.04% WILLIAMSON COUNTY 27,647 1.64% GEORGETOWN ISD 25,233 1.50% GEORGETOWN HOSPITAL 17,825 1.06% CYPRESS CREEK APTS 15,347 0.91% INDIAN CREEK APTS 14,738 0.88% GEORGETOWN PLACE APTS 13,765 0.82% WESLEYAN HOMES 13,569 0.81% WATERS EDGE APTS 12,713 0.76% 215,176 12.79% Source: City of Georgetown (1) Fiscal 2015 figures. Based on total consumption of 1,681,907 kgals. DRAFT Page 195 of 231 CITY OF GEORGETOWN, TEXAS VALUATION, EXEMPTIONS AND AD VALOREM TAX DEBT SEPTEMBER 30, 2015 160 2014/15 Market Valuation Established by Williamson Central Appraisal District (excluding totally exempt property)5,887,448,886$ Less Exemptions/Reductions at 100% Market Value:759,530,260 2014/15 Taxable Assessed Valuation 5,127,918,626$ City Funded Debt Payable from Ad Valorem Taxes (1)130,085,000$ The Bonds 4,450,000 The Certificates 7,195,000 The Taxable Certificates 6,765,000 Total Debt Payable from Ad Valorem Taxes (1)148,495,000$ Interest and Sinking Fund 8,732,191 Net Debt Payable from Ad Valorem Taxes 139,762,809$ Ratio of Net Tax Supported Debt to Taxable Assessed Valuation (1)2.73% NOTES: (1) Includes $3,616,043 of self-supporting debt, which is paid from storm water and airport revenues, and $13,144,297 of self- supporting debt, which is paid from the City's sales tax levied for economic development pursuant to an interlocal agreement with the City's Type B Corporation (GTEC). $10,268,352 of self-supporting debt is paid from electric revenues and water revenues. 2015 Estimated Population - 56,798 Per Capita Taxable Assessed Valuation - $93,765 Per Capita Net Ad Valorem Tax Debt Payable from Ad Valorem Taxes - $2,556DRAFT Page 196 of 231 This page intentionally left blank. DRAFT Page 197 of 231 CITY OF GEORGETOWN, TEXAS TAXABLE ASSESSED VALUATIONS BY CATEGORY LAST SIX FISCAL YEARS 161 CATEGORY AMOUNT % OF TOTAL AMOUNT % OF TOTAL Real, Residential, Single-Family 3,919,149,977$ 66.56% 3,383,707,151$ 65.32% Real, Residential, Multi-Family 180,615,033 3.07%141,539,008 2.73% Real, Vacant Lots/Tracts 107,717,396 1.83%105,728,114 2.04% Real, Acreage (Land Only)329,513,434 5.60%274,265,523 5.29% Real, Farm and Ranch Improvements 10,841,218 0.18%9,762,143 0.19% Real, Commercial/industrial 959,342,874 16.29%852,941,178 16.46% Real and Tangible, Personal, Utilities, Other 51,686,900 0.88%41,161,229 0.79% Tangible Personal, Commercial 234,873,665 3.99%294,627,224 5.69% Tangible Personal, Industrial 2,048,930 0.03%2,146,190 0.04% Tangible Personal, Other, Inventory 91,659,459 1.56%74,576,391 1.44% Total Appraisal Value Before Exemptions 5,887,448,886 100.00% 5,180,454,151 100.00% Less: Total Exemptions/Reductions 759,530,260 582,241,075 Taxable Assessed Value 5,127,918,626$ 4,598,213,076$ CATEGORY AMOUNT % OF TOTAL Real, Residential, Single-Family 2,937,372,968$ 65.35% Real, Residential, Multi-Family 127,646,526 2.84% Real, Vacant Lots/Tracts 105,493,785 2.35% Real, Acreage (Land Only)284,418,889 6.33% Real, Farm and Ranch Improvements 8,628,185 0.19% Real, Commercial/industrial 737,420,280 16.41% Real and Tangible, Personal, Utilities, Other 30,152,599 0.67% Tangible Personal, Commercial 187,188,597 4.16% Tangible Personal, Industrial 1,744,994 0.04% Tangible Personal, Other, Inventory 74,536,522 1.66% Total Appraisal Value Before Exemptions 4,494,603,345 100.00% Less: Total Exemptions/Reductions 467,710,073 Taxable Assessed Value 4,026,893,272$ 2010 20142015 DRAFT Page 198 of 231 162 AMOUNT % OF TOTAL AMOUNT % OF TOTAL AMOUNT % OF TOTAL 3,212,802,019$ 64.13% 3,051,782,791$ 62.49% 2,951,917,721$ 62.66% 136,323,871 2.72%134,630,205 2.76%136,781,699 2.90% 110,691,837 2.21%112,194,608 2.30%117,503,406 2.49% 287,098,365 5.73%277,760,619 5.69%280,860,043 5.96% 9,458,303 0.19%7,749,074 0.16%7,748,104 0.16% 838,635,946 16.74%873,539,170 17.89%827,031,630 17.55% 45,546,793 0.91%47,029,662 0.96%45,209,184 0.96% 302,428,949 6.04%315,920,307 6.47%278,224,342 5.91% 2,178,467 0.04%2,281,333 0.05%2,234,106 0.05% 65,047,165 1.30%60,766,941 1.24%63,594,310 1.35% 5,010,211,715 100.00% 4,883,654,710 100.00% 4,711,104,545 99.99% 594,203,705 687,470,575 655,155,594 4,416,008,010$ 4,196,184,135$ 4,055,948,951 2012 20112013 DRAFT Page 199 of 231 CITY OF GEORGETOWN, TEXAS AUTHORIZED BUT UNISSUED GENERAL OBLIGATION BONDS SEPTEMBER 30, 2015 163 AUTHORIZATION DATE AMOUNT AMOUNT BEING UNISSUED PURPOSE AUTHORIZED AUTHORIZED ISSUED USED BALANCE Roads November 4, 2008 46,000,000$ 15,600,000$ 4,450,000$ 25,950,000$ Parks & Recreation November 4, 2008 35,500,000 7,500,000 - 28,000,000 Roads May 9, 2015 105,000,000 - - 105,000,000 Total 186,500,000$ 23,100,000$ 4,450,000$ 158,950,000$ DRAFT Page 200 of 231 This page intentionally left blank. DRAFT Page 201 of 231 CITY OF GEORGETOWN, TEXAS GENERAL FUND REVENUES AND EXPENDITURE HISTORY LAST TEN FISCAL YEARS 164 2015 2014 2013 2012 Revenues: Taxes 27,331,498$ 25,293,544$ 24,522,441$ 22,013,241$ Licenses and Permits 2,002,380 1,932,563 1,536,660 1,236,478 Charges for Services 10,556,447 9,682,702 9,302,816 8,268,169 Fines and Forfeitures 529,920 598,717 670,582 616,815 Miscellaneous and Interest 722,772 682,447 1,460,008 579,060 Total Revenues 41,143,017 38,189,973 37,492,507 32,713,763 Expenditures: General Government 3,762,714 3,013,544 2,908,971 2,992,852 Development Services 2,148,991 2,003,688 1,579,575 1,890,481 Parks and Recreation 9,156,876 8,401,551 7,945,906 7,183,369 Fire Services 10,595,388 9,455,714 8,638,166 7,590,667 Police Services 12,899,092 11,687,498 11,471,418 10,498,193 Georgetown Utility Systems/Streets 9,281,051 9,435,835 8,236,375 8,247,315 Total Expenditures 47,844,112 43,997,830 40,780,411 38,402,877 Excess (Deficiency) of Revenues Over Expenditures (6,701,095) (5,807,857) (3,287,904) (5,689,114) Budgeted Transfers In 7,720,944 6,964,508 6,655,673 6,200,518 Budgeted Transfers Out (1,188,673) (2,034,075) (949,076) (34,641) Net Increase (Decrease)(168,824) (877,424) 2,418,693 476,763 Fund Equity at Beginning of Year 12,172,679 13,050,103 10,631,410 10,154,647 Fund Equity at End of Year 12,003,855$ 12,172,679$ 13,050,103$ 10,631,410$ Source: City's Audited Financial Statements. Fiscal Year Ending September 30, DRAFT Page 202 of 231 165 2011 2010 2009 2008 2007 2006 21,335,893$ 19,336,126$ 18,508,353$ 18,214,532$ 16,113,563$ 14,343,981$ 890,948 841,392 791,882 1,158,433 1,527,886 1,723,082 8,082,889 7,882,093 7,682,367 2,193,590 1,700,490 941,718 762,923 958,792 889,367 1,013,699 976,538 846,010 614,138 515,814 930,774 1,872,238 1,380,063 964,980 31,686,791 29,534,217 28,802,743 24,452,492 21,698,540 18,819,771 3,384,950 3,087,317 3,129,127 2,738,903 2,696,325 2,152,667 2,195,537 2,088,809 2,213,899 2,411,971 2,572,746 2,112,845 7,289,676 6,902,305 6,677,760 5,564,579 4,741,777 4,330,337 7,011,366 6,694,350 6,597,024 5,271,624 4,783,187 4,078,796 10,060,311 9,897,919 9,873,237 8,915,180 8,015,663 6,918,948 7,347,201 6,623,628 6,524,677 2,768,367 1,739,495 1,758,289 37,289,041 35,294,328 35,015,724 27,670,624 24,549,193 21,351,882 (5,602,250) (5,760,111) (6,212,981) (3,218,132) (2,850,653) (2,532,111) 6,079,801 6,356,907 6,515,884 6,687,060 5,162,236 5,749,597 (85,022) (1,342,361) (1,737,715) (2,091,633) (702,697) (1,732,126) 392,529 (745,565) (1,434,812) 1,377,295 1,608,886 1,485,360 9,762,118 10,507,683 11,942,495 10,565,200 8,956,314 7,470,954 10,154,647$ 9,762,118$ 10,507,683$ 11,942,495$ 10,565,200$ 8,956,314$ DRAFT Page 203 of 231 CITY OF GEORGETOWN, TEXAS MUNICIPAL SALES TAX HISTORY LAST TEN FISCAL YEARS 166 FISCAL YEAR % 0F EQUIVALENT OF ENDED TOTAL AD VALOREM AD VALOREM PER TAX 9/30 COLLECTED TAX LEVY TAX RATE CAPITA LEVY RATE 2006 6,056,507$ 66.18% 0.2292 146 9,151,851$ 0.3463 2007 6,761,872 60.16% 0.2210 153 11,239,704 0.3673 2008 7,310,027 55.40% 0.1975 160 13,195,606 0.3566 2009 6,943,036 46.67% 0.1662 148 14,877,893 0.3562 2010 7,454,806 50.14% 0.1786 156 14,867,340 0.3562 2011 7,803,863 52.41% 0.1867 160 14,889,961 0.3562 2012 8,277,502 49.10% 0.1903 167 16,856,914 0.3875 2013 9,326,554 50.78% 0.2082 185 18,367,332 0.4100 2014 10,984,723 53.24% 0.2340 210 20,632,709 0.4395 2015 11,296,645 49.55% 0.2150 199 22,799,091 0.4340 DRAFT Page 204 of 231 CITY OF GEORGETOWN, TEXAS MONTHLY & VOLUMETRIC WATER RATES SEPTEMBER 30, 2015 167 Customer Meter Size Inside City Outside City 5/8 inch 15.50$ 18.50$ 3/4 inch 23.00 27.50 1 inch 38.50 46.00 1 1/2 inch 76.50 91.50 2 inch 122.50 146.50 3 inch 245.50 293.50 4 inch 383.50 458.50 6 inch 766.50 916.50 8 inch 1,226.50 1,466.50 Non-Potable Water Rates: Cost per thousand gallons 1.05$ 1.05$ Nonresidential Water Rates: Cost per thousand gallons 2.40$ Irrigation Meter, cost per thousand gallons 4.00$ Residential Water Rates 1,000 Gallons Volumetric Rate 0 - 10 1.75$ 11 - 20 2.40 21 - 40 4.00 41 - 60 6.50 61 and over 8.50 Source: City of Georgetown Note. Rates effective January 1, 2014 Customer Charge per Month DRAFT Page 205 of 231 CITY OF GEORGETOWN, TEXAS MONTHLY WASTEWATER RATES SEPTEMBER 30, 2015 168 RESIDENTIAL AND SMALL COMMERCIAL Net Monthly Rate: Flat Rate Inside City Limits:29.25$ per month Flat Rate Outside City Limits:33.60 per 1,000 gallons Low income residential discount: 20% below current flat rate for qualifying household COMMERICIAL Net Monthly Rate: a. Inside City Limits 1. Customer Charge 44.25 per month 2. Volumetric Charge* 2.35 per 1,000 gallons b. Outside City Limits 1. Customer Charge 50.90 per month 2. Volumetric Charge* 2.70 per 1,000 gallons LARGE COMMERCIAL Net Monthly Rate: a. Inside City Limits 1. Customer Charge 78.60 per month 2. Volumetric Charge* 2.35 per 1,000 gallons b. Outside City Limits 1. Customer Charge 90.40 per month 2. Volumetric Charge* 2.70 per 1,000 gallons HIGH STRENGTH COMMERCIAL Net Monthly Rate: a. Inside City Limits 1. Customer Charge 44.25 per month 2. Volumetric Charge* 3.70 per 1,000 gallons b. Outside City Limits 1. Customer Charge 50.90 per month 2. Volumetric Charge* 4.30 per 1,000 gallons MULTIFAMILY Net Monthly Rate: a. Inside City Limits 1. Customer Charge 105.15 per month 2. Volumetric Charge* 2.35 per 1,000 gallons b. Outside City Limits 1. Customer Charge 120.90 per month 2. Volumetric Charge* 2.70 per 1,000 gallons Source: City of Georgetown Notes: Rates effective April 1, 2007 The volumetric charges are calculated using the actual water consumption billed per month. DRAFT Page 206 of 231 CITY OF GEORGETOWN, TEXAS MONTHLY ELECTRIC RATES SEPTEMBER 30, 2015 169 All Customers Purchased Power Cost Adjustment:$0.0001 per kWh Residential Sales Tax:2.00% of total electric charges; outside City limits: None Commercial Sales Tax:8.25% of total electric charges; outside City limits: 6.25% Residential Service Customer Charge:$20.00 per month Energy Charge:$0.0939 per kWh Small General Service Customer Charge:$45.00 per month Energy Charge:$0.0883 per kWh School Charge Customer Charge:$175.00 per month Energy Charge:$0.1131 per kWh Water & Wastewater Pumping Service Customer Charge:$165.00 per month Energy Charge:$0.0516 per kWh Large General Service Customer Charge:$20.00 per month Demand Charge:$8.45 per kWh Energy Charge:$0.0713 per kWh Minimum Bill:$442.50 Industrial Customer Charge:$250.00 per month Demand Charge:$10.00 per kWh Energy Charge:$0.0644 per kWh Minimum Bill:$5,250.00 Large Industrial Service Customer Charge:$350.00 per month Demand Charge:$7.50 per kWh Energy Charge:$0.0661 per kWh Minimum Bill:$15,350.00 Municipal Service Customer Charge:$125.00 per month Energy Charge:$0.0606 per kWh Minimum Bill:$125.00 Lighting Service High Pressure Sodium Municipal Street Retail Street 100 Watt per light (35 kWh)$8.50 per month $5.09 per month $5.26 per month 200 Watt per light (71 kWh)$14.50 per month $9.29 per month $9.75 per month 250 Watt per light (86 kWh)$16.70 per month $11.13 per month $11.64 per month 400 Watt per light (137 kWh)$23.50 per month $17.33 per month $18.17 per month The City offers a wind powered energy rate for residential and small commercial customers. The rate for wind power energy is $1.50/block (each block consists of 100 kWh), subject to a 1 block minimum and a 5 block maximum. The City also offers credits for electric users who agree to curtail power upon the request of the city as well as experimental interruptible power service. Currently, the City's water and wastewater plants are the only entities taking advantage of the curtailable power credit. Source: City of Georgetown Effective November 1, 2013 DRAFT Page 207 of 231 This page intentionally left blank. DRAFT Page 208 of 231 COMPLIANCE SECTION DRAFT Page 209 of 231 AN INDEPENDENT MEMBER OF BAKER TILLY INTERNATIONAL WEAVER AND TIDWELL, L.L.P. CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS 1601 SOUTH MOPAC EXPRESSWAY, SUITE D250, AUSTIN, TX 78746 P: 512.609.1900 F: 512.609.1911 170 INDEPENDENT AUDITOR’S REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS To the Honorable Mayor and Members of the City Council City of Georgetown, Texas We have audited, in accordance with the auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards issued by the Comptroller General of the United States, the financial statements of the governmental activities, the business-type activities, the discretely presented component unit, each major fund, and the aggregate remaining fund information of the City of Georgetown, Texas (the City), as of and for the year ended September 30, 2015, and the related notes to the financial statements, which collectively comprise the City’s basic financial statements and have issued our report thereon dated February 24, 2016. Internal Control Over Financial Reporting In planning and performing our audit of the financial statements, we considered the City’s internal control over financial reporting (internal control) to determine the audit procedures that are appropriate in the circumstances for the purpose of expressing our opinions on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the City’s internal control. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control. A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the entity’s financial statements will not be prevented, or detected and corrected on a timely basis. A significant deficiency is a deficiency, or a combination of deficiencies, in internal control that is less severe than a material weakness, yet important enough to merit attention by those charged with governance. Our consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be material weaknesses or significant deficiencies and therefore, material weaknesses or significant deficiencies may exist that were not identified. However, we did identify deficiencies in internal control, described in the accompanying schedule of findings and questioned costs as 2015-002, that we consider to be a material weakness, and others, described as 2015-001, that we consider to be a significant deficiency. Compliance and Other Matters As part of obtaining reasonable assurance about whether the City’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of our audit and, accordingly, we do not express such an opinion. The results of our tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards. DRAFT Page 210 of 231 To the Honorable Mayor and Members of the City Council City of Georgetown, Texas 171 Management’s Response to Findings Management’s response to the findings identified in our audit are described in the accompany schedule of findings and questioned costs. Management’s response was not subjected to the auditing procedures applied in the audit of the financial statements and, accordingly, we express no opinion on it. Purpose of this Report The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the City’s internal control or on compliance. This report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the entity’s internal control and compliance. Accordingly, this communication is not suitable for any other purpose. WEAVER AND TIDWELL, L.L.P. Austin, Texas February 24, 2016 DRAFT Page 211 of 231 AN INDEPENDENT MEMBER OF BAKER TILLY INTERNATIONAL WEAVER AND TIDWELL, L.L.P. CERTIFIED PUBLIC ACCOUNTANTS AND ADVISORS 1601 SOUTH MOPAC EXPRESSWAY, SUITE D250, AUSTIN, TX 78746 P: 512.609.1900 F: 512.609.1911 172 REPORT ON COMPLIANCE FOR EACH MAJOR FEDERAL PROGRAM, AND REPORT ON INTERNAL CONTROL OVER COMPLIANCE IN ACCORDANCE WITH OMB CIRCULAR A-133 To the Honorable Mayor and Members of the City Council City of Georgetown, Texas Report on Compliance for Each Major Federal Program We have audited the City of Georgetown, Texas’ (the City’s) compliance with the types of compliance requirements described in the U.S. Office of Management and Budget (OMB) Circular A-133 Compliance Supplement that could have a direct and material effect on each of the City’s major federal programs for the year ended September 30, 2015. The City’s major federal programs are identified in the summary of auditor’s results section of the accompanying schedule of findings and questioned costs. Management’s Responsibility Management is responsible for compliance with the requirements of laws, regulations, contracts, and grants applicable to its federal programs. Auditor’s Responsibility Our responsibility is to express an opinion on compliance for each of the City’s major federal programs based on our audit of the types of compliance requirements referred to above. We conducted our audit of compliance in accordance with auditing standards generally accepted in the United States of America; the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States; and OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations. Those standards and OMB Circular A-133 require that we plan and perform the audit to obtain reasonable assurance about whether noncompliance with the types of compliance requirements referred to above that could have a direct and material effect on a major federal program occurred. An audit includes examining, on a test basis, evidence about the City’s compliance with those requirements and performing such other procedures, as we considered necessary in the circumstances. We believe that our audit provides a reasonable basis for our opinion on compliance for each major federal program. However, our audit does not provide a legal determination of the City’s compliance. Opinion on Each Major Federal Program In our opinion, the City complied, in all material respects, with the types of compliance requirements referred to above that could have a direct and material effect on each of its major federal programs for the year ended September 30, 2015. Report on Internal Control Over Compliance Management of the City is responsible for establishing and maintaining effective internal control over compliance with the types of compliance requirements referred to above. In planning and performing our audit of compliance, we considered the City’s internal control over compliance with the types of requirements that could have a direct and material effect on each major federal program as a basis for designing auditing procedures that are appropriate in the circumstances for the purpose of expressing an opinion on compliance for each major federal program and to test and report on internal control over compliance in accordance with OMB Circular A-133, but not for the purpose of expressing an opinion on the effectiveness of internal control over compliance. Accordingly, we do not express an opinion on the effectiveness of the City’s internal control over compliance. DRAFT Page 212 of 231 To the Honorable Mayor and Members of the City Council City of Georgetown, Texas 173 A deficiency in internal control over compliance exists when the design or operation of a control over compliance does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct noncompliance with a type of compliance requirement of a federal program on a timely basis. A material weakness in internal control over compliance is a deficiency, or combination of deficiencies in internal control over compliance, such that there is a reasonable possibility that material noncompliance with a type of compliance requirement of a federal program will not be prevented, or detected and corrected on a timely basis. A significant deficiency in internal control over compliance is a deficiency, or a combination of deficiencies, in internal control over compliance with a type of compliance requirement of a federal program that is less severe than a material weakness in internal control over compliance, yet important enough to merit attention by those charged with governance. Our consideration of internal control over compliance was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over compliance that might be material weaknesses or significant deficiencies. We did not identify any deficiencies in internal control over compliance that we consider to be material weaknesses. However material weaknesses may exist that have not been identified. The purpose of this report on internal control over compliance is solely to describe the scope of our testing of internal control over compliance and the results of that testing based on the requirements of OMB Circular A-133. Accordingly, this report is not suitable for any other purpose. WEAVER AND TIDWELL, L.L.P. Austin, Texas February 24, 2016 DRAFT Page 213 of 231 CITY OF GEORGETOWN, TEXAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS YEAR ENDED SEPTEMBER 30, 2015 174 SECTION I – SUMMARY OF AUDITOR’S RESULTS Financial Statements An unmodified opinion was issued on the financial statements. Internal control over financial reporting: • Material weakness(es) identified? X Yes No • Significant deficiencies identified that are not considered to be material weakness(es)? X Yes None reported • Noncompliance material to financial statements noted? Yes X No Federal Awards Internal control over major programs: • Material weakness(es) identified? Yes X No • Significant deficiencies identified that are not considered to be material weakness(es)? Yes X None reported An unmodified opinion was issued on compliance for major programs. • Any audit findings disclosed that are required to be reported in accordance with section 510(a) or Circular A-133? Yes X No Identification of major programs: 20.205 Highway Planning and Construction • Dollar threshold used to distinguish between type A and type B programs? $300,000 Auditee qualified as low-risk auditee? X Yes No DRAFT Page 214 of 231 CITY OF GEORGETOWN, TEXAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS – CONTINUED YEAR ENDED SEPTEMBER 30, 2015 175 SECTION II – FINANCIAL STATEMENT FINDINGS Finding 2015-001 – Accrual of Non-routine Transactions Criteria or Specific Requirement: In accordance with accounting principles generally accepted in the United States of America, and the accrual basis of accounting, expenditures should be recognized when the related fund liability is incurred. Condition: During the course of the audit, we identified certain instances of non-routine expenditures for legal and contract matters that were not appropriately accrued into the appropriate period. ( ) Compliance finding ( X ) Significant deficiency ( ) Material weakness Context: The auditors noted this condition during testing of capital projects and accrued liabilities. Effect: Accruals of approximately $1,200,000 were not recorded for expenditures incurred prior to September 30, 2015. Cause: Non-routine transactions can often result in the need to accrue or recognize expenditures prior to receipt of an actual invoice, which can be delayed by vendors, or retained at a department level, resulting in those responsible for financial reporting not being aware that an accrual is necessary. Recommendation: We recommend that the City implement a process in which those responsible for financial reporting check with all project managers and department heads to verify that all appropriate non-routine accruals have been made, including those for which an actual invoice has not yet been received. Views of Responsible Officials and Planned Corrective Actions: Management acknowledges this finding, but believes this to be an isolated incident. Efforts are made in the financial reporting process to gather all necessary information to record accruals into the appropriate period. Moving forward, management will better educate those outside of the accounting function about the importance of providing this information, so that costs can be appropriately recognized. Finding 2015-002 – Capture of Costs and Contributions of Electric Fund Assets Criteria or Specific Requirement: In accordance with accounting principles generally accepted in the United States of America, and the accrual basis of accounting, costs associated with the construction of capital assets for the use of the general government should be capitalized. Further, the value of developer’s contribution of capital assets should be capitalized upon contribution to the general government. The City should maintain a system to track these cost so that the financial statements will accurately reflect these amounts in the periods in which the assets are constructed or contributed. Condition: During the course of the audit, we were notified by management that an adjustment to previously reported capital asset balances in the Electric Fund should be restated by $15,322,079. ( ) Compliance finding ( ) Significant deficiency ( X ) Material weakness Context: The City periodically engages a third-party engineering firm to retroactively accumulate the cost basis of the electric system, including developer’s contributions. The City received its most recent such report in the year ended September 30, 2015. The City’s previous adjustment was recorded in the year ended September 30, 2012. DRAFT Page 215 of 231 CITY OF GEORGETOWN, TEXAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS – CONTINUED YEAR ENDED SEPTEMBER 30, 2015 176 SECTION II – FINANCIAL STATEMENT FINDINGS – continued Finding 2015-002 – Capture of Costs and Contributions of Electric Fund Assets – continued Effect: The City’s capital asset balance in the Electric Fund was understated at September 30, 2014 by $15,322,079. Cause: The City has not implemented an internal system to track all costs and developer contributions of Electric Fund capital assets, such that they can be included in the appropriate reporting period. The City has made the decision to engage a third-party to assist them in making these adjustments periodically. Recommendation: We recommend that the City implement a process that will appropriately track costs and contributions of capital assets timely, such that they can be reported in the period the costs are incurred or assets are contributed. Views of Responsible Officials and Planned Corrective Actions: Up until this point, management has made the conscience decision that recording these costs and contributions in a later period, after the third-party study is completed, does not materially misstate the financial statements. The restatement to the Electric Fund represents an increase to previously reported assets of approximately 14%. However, due to the nature and users of the Electric Fund, management does not believe that this change would materially impact any decisions or analysis using the Electric Fund’s financials. Management has made a commitment to re-visit this position, and make a determination of whether a change to current policy is appropriate. SECTION III – FEDERAL AWARD FINDINGS AND QUESTIONED COSTS NONE SECTION IV – SCHEDULE OF PRIOR AUDIT FINDINGS AND QUESTIONED COSTS Finding 2014-01 - Schedule of Expenditures of Federal Awards Criteria or Specific Requirement: In accordance with OMB Circular A-133, Audits of States, Local Governments, and Non-Profit Organizations, the auditee shall prepare a Schedule of Expenditures of Federal Awards (SEFA) to include all federal award amounts expended, properly identify the Catalog of Federal Domestic Assistance (CFDA) numbers, and properly identify awards as belonging to clusters, as applicable. Condition: During the course of the audit, we identified awards not reported properly on the SEFA as to the amount expended. ( X ) Compliance finding ( X ) Significant deficiency ( ) Material weakness Context: The auditors noted this condition during the review of the initial SEFA and testing the underlying accounting records supporting the amounts recorded. Effect: Federal expenditures were not properly recorded on the initial SEFA received. In order to properly select those programs which will be tested as major federal programs in accordance with OMB Circular A-133, the auditors require complete and accurate information to be reported on the SEFA. If not done properly, this could lead to non-compliance for federal awards and possible financial statement misstatement. DRAFT Page 216 of 231 CITY OF GEORGETOWN, TEXAS SCHEDULE OF FINDINGS AND QUESTIONED COSTS – CONTINUED YEAR ENDED SEPTEMBER 30, 2015 177 SECTION IV – SCHEDULE OF PRIOR AUDIT FINDINGS AND QUESTIONED COSTS – continued Finding 2014-01 - Schedule of Expenditures of Federal Awards – continued Cause: As a result of the expenditures incurred as part of the Airport Project Participation Agreement grant being incurred on behalf of the City by a State agency, the City did not properly identify all of the expenditures incurred for this grant. Status: The City communicated with granting agencies during the year to determine amounts to be appropriately presented on the SEFA. SECTION V – CORRECTIVE ACTION PLAN NONE DRAFT Page 217 of 231 CITY OF GEORGETOWN, TEXAS SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 178 Federal Grantor/Federal Pass-Through Federal Pass-Through Grantor/CFDA Entity Identifying Program Program Title Number Number Expenditures BUREAU OF JUSTICE ASSISTANCE Direct Program: Bulletproof Vest Program 16.607 KXPIIIA 4,552$ Total Bureau of Justice Assistance 4,552 Department of Transportation / Federal Highway Administration (FHWA) Passed through Texas Department of Transportation: * Highway Planning & Construction 20.205 CSJ-2211-01-019 532,903 * Highway Planning & Construction 20.205 CSJ-0015-17-026 153 Total Department of Transportation / Federal Highway Administration (FHWA)533,056 Federal Aviation Administration Passed through Texas Department of Transportation-Aviation Division: Airport Project Participation Agreement 20.106 1214GRGTN 553 Airport Project Participation Agreement 20.106 1314GRGTN 31,553 Airport Project Participation Agreement 20.106 1414GRGTN 1,045,726 Total Federal Aviation Administration 1,077,832 National Highway Traffic Safety Administration Passed through Texas Department of Transportation: STEP Comprehensive 20.600 2015-Georgeto-S-1YG-0079 2,196 Total National Highway Traffic Safety Administration 2,196 U.S. DEPARTMENT OF HOMELAND SECURITY Passed through Federal Emergency Management Agency: Prehazard Mitigation 97.047 LPDM-2008-010 2,108 Total U.S. Department of Homeland Security 2,108 U.S. DEPARTMENT OF INTERIOR Passed through Texas Historical Commision: Citizens Memorial Cemetery Survey 15.904 TX-14-025 12,000 Total U.S. Department of Interior 12,000 U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Passed through Williamson County: Community Development Block Grant 14.218 065P Georgertown 156,150 Total U.S. Department of Housing and Urban Development 156,150 TOTAL EXPENDITURES OF FEDERAL AWARDS 1,787,894$ * Clustered Programs DRAFT Page 218 of 231 CITY OF GEORGETOWN, TEXAS NOTES TO THE SCHEDULE OF EXPENDITURES OF FEDERAL AWARDS FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2015 179 NOTE 1. GENERAL The accompanying schedule of expenditures of federal awards presents the activity of all applicable federal awards of the City of Georgetown, Texas (the City). The City’s reporting entity is defined in Note 1 to the City’s financial statements. Federal awards received directly from federal agencies as well as federal awards passed through other government agencies are included in the respective schedule. NOTE 2. BASIS OF ACCOUNTING The accompanying schedule of expenditures of federal awards is presented using the modified accrual basis of accounting, which is described in Note 1 to the City’s financial statements. NOTE 3. RELATIONSHIP TO FEDERAL FINANCIAL REPORTS Grant expenditures reports as of September 30, 2015, which have been submitted to grantor agencies will, in some cases, differ slightly from amounts disclosed herein. The reports prepared for grantor agencies are typically prepared at a later date and often reflect refined estimates of year-end accruals. The reports will agree at termination of the grant, as the discrepancies noted are timing differences. DRAFT Page 219 of 231 DRAFT Page 220 of 231 City of Georgetown, Texas City Council Workshop Marc h 8, 2016 SUBJECT: P resentation regarding the FY2017 Budget Calendar and P rocess – P aul Diaz, Budget Manager ITEM SUMMARY: Overview of the budget calendar and process for FY 20 17 . FINANCIAL IMPACT: None SUBMITTED BY: P aul Diaz, Budget Manager ATTACHMENT S: Description Bud get Adop tion C alendar Bud get Adop tion C alendar and Areas of Fo c us Page 221 of 231 2016/17 CITY OF GEORGETOWN PROPERTY TAX AND BUDGET ADOPTION CALENDAR As of March 2016 Feb 23 City Council WORKSHOP March 8 City Council WORKSHOP - Discuss Budget Calendar and Process March 22 City Council WORKSHOP -Update on Council Goal/strategies -Emergency Medical Services update April 12 City Council WORKHSOP -No Budget items April 26 City Council WORKSHOP -Budget Outlook – revenue assumptions & forecast, budget initiatives -Fiscal and Budgetary Policy Review May 10 City Council WORKSHOP -Review/discuss recommendations for compensation & benefits May 24 City Council WORKSHOP -Review/discuss proposed 5-Year GCP CIP (Parks, Downtown, Facilities) -Review/discuss proposed capital maintenance and internal service funds June 14 City Council WORKSHOP -Review of Sidewalks June 28 City Council WORKSHOP -Review/discuss proposed 5-Year CIP (Utilities, Transportation) July 12-13 City Council WORKSHOP and SPECIAL MEETING (early start each day) - Budget Work Sessions – detail review, operational impacts/growth, new initiatives, funding/revenue update July 22 Property Tax Rolls are certified July 26 City Council WORKSHOP -Review/discuss City Manager’s Proposed 2016/17 Budget Page 222 of 231 -Set “maximum” tax rate for 2017 and set public hearing dates to comply with Texas Truth in Taxation legislation August 9 City Council REGULAR MEETING - 1st public hearing on tax rate August 16 City Council SPECIAL MEETING -2nd public hearing on tax rate -public hearing on budget August 17 Publish 2nd Public Notice on Tax Rate (for hearing) August 23 City Council REGULAR MEETING -Resolution to ratify tax rate -1st readings – ordinances for tax rate, administrative departments, budget -Review and approval of proposed GTEC, GEDCO budgets September 9 City Council REGULAR MEETING - 2nd Reading Tax and Budget Ordinances Page 223 of 231 Budget Adoption Calendar and Areas of FocusBudget Adoption Calendar and Areas of FocusBudget Adoption Calendar and Areas of FocusBudget Adoption Calendar and Areas of Focus Fiscal and Budgetary Policy Economic Forecast & Revenue Assumptions Budget Initiatives & Issues Compensation & Benefits Internal Service Funds Capital Improvement O&M 5 Year CIP (GUS) 5 Year CIP (Trans) 5 Year CIP (GCP) Review of Sidewalks Review of Transit Operational Impacts/Growth Funding Opportunities New Initiatives Tax Impacts Page 224 of 231 City of Georgetown, Texas City Council Workshop Marc h 8, 2016 SUBJECT: Council conside ratio n and direction concerning the pro posed 2016 Street Maintenance -- Mark Miller, Transportation Services Manage r, Edward G. Polasek, AICP, Transportatio n Services Director and Jim Briggs, General Manager of Utilities ITEM SUMMARY: At the February 2 3rd Council wo rkshop on P avement Maintenance, the re were que stio ns conce rning the co st difference between the different paving processes and how this cost difference wo uld affect the c urrent and future Capital maintenance proje c ts. Council asked for a cost scenario of utilizing only the Cutler process. Council also expressed an interest in knowing the implications of replacing all single course chip seal in the future CIP s with two course chip se al. Cutl er Onl y Scenar i o: The Cutler process at $110,000 per lane mile repeated every 10 years would require 7 million do llars annually. An additional $500,000 annually would be needed for crack sealing and patching. A large percentage o f stre ets in o ld Georgetown are not candidates for Cutler and would require additional rehabilitatio n at $1 41 ,00 0 per lane mile. Tw o course onl y sc enari o : Current cost for in-house single chip seal is $174 ,00 0 fo r 14 .42 lane miles Estimated cost for 2 01 6 co ntracted single chip seal is $34 1,0 00 for 13.64 lane miles Estimated co st for 2016 contracted two course chip seal, in lieu o f single c ourse chip seal is $578,000 fo r 13.64 lane miles Estimated cost for 2 01 7 co ntracted single chip seal is $39 5,0 00 for 15.80 lane miles Estimated co st for 2017 contracted two course chip seal, in lieu o f single c ourse chip seal is $671,000 fo r 15.80 lane miles The amount o f work performed by in-house fo rc e s will be reduced in half as the two course doubles the effort and time. The remaining half will be added to the contrac ted po rtion. This would result in an additio nal cost of $376,000 that would be added to the 20 16 scope of work for the c ontacted portion of the chip seal co ntract. Replacing the single with double chip will require an additional $889,000 ($613,0 00 for 2 01 6 and $276,000 for 201 7) to the budget to c ove r the same proposed roadways or a reduction in scope of the 20 16 and 2 01 7 CIP maintenance. As in the Cutler proc e ss, so me streets may need evaluation as to drainage impacts. A re duction in scope require d evaluating the roads for the best benefit to the syste m. Map attachments are inc luded showing the reduction in sco pe and streets selected for the two course treatment in 20 16 and 2017. The impact to the 2016 in-ho use chip seal work wo uld result in the reductio n of the pro posed 14 .4 lane miles in 2 01 6 to 5.46 lane mile s. The impact to the 2 01 6 contracted chip se al work would re sult in o nly 5.53 lane miles o f treatment compared to 1 3.6 4 lane miles as planne d. Fo r 2017 co ntracted chip seal work, the reduction wo uld result in only 6 .4 lane miles of treated streets compare d to the pro posed 15.80 lane mile s. Reducing the system coverage to 26 .47 lane mile s per year will result in declining OCI (overall co nditio n index) sco re s as the percentage of streets maintained is reduce d. STAF F RECOMMENDATION : P roceed with the existing proposed 2016 CIP project list as appro ved in budget with the exception o f applying an additional fast set applic atio n to single chip seals applied in 2015. This will further minimize shelling o f excess aggregate and pro vide additional time to evaluate the longevity and performance of this pro cess. FINANCIAL IMPACT: n/a Page 225 of 231 SUBMITTED BY: Jana Kern on behalf o f Mark Miller ATTACHMENT S: Description Year 2 - B2016 Year 2 - B2016 Rev 1 Year 3 - B2017 Year 3 - B2017 Rev 1 Page 226 of 231 C.R . 1 5 2 C.R. 1 5 0 F.M. 9 7 2 WESTIN G H O U S E R O A D C . R . 1 0 2 C.R. 1 4 7 C.R. 1 4 3 SHEL L R O A D S T A T E H W Y 1 9 5 ST A T E H W Y 1 9 5 I.H . H W Y 3 5 STATE H W Y 2 9 OL D U . S . 8 1 H W Y C . R . 1 1 0 F . M . 1 4 6 0 F.M. 9 7 1 C.R. 2 4 7 WEB B C.R . 2 4 5 JENNI N G S B R A N C H HOG G ROA D JI M F.M. 3 4 0 5 A N D I C E R O A D ( F . M . 2 3 3 8 ) STATE H W Y 2 9 F.M. 2 2 4 3 DE L BL V D . I . H . H W Y 3 5 GEORGETOWN MUNICIPAL AIRPORT L A K E G E O R G E T O W N MID D L E F O R K S A N G A B R I E L R I V E R SOUTH FO R K S A N G A B R I E L R I V E R DR. GRANDE CIRC L E LN ST E P H E N CIRC L E MEADO W L A R K CVADKIN S CVROSE M A R Y T A N N E R COVE MAY BAS T I A N L N SPRIN G S C V PRAIRI E S P R I N G S L N P R A I R I E S P R I N G S L O O P P R A I R I E C L A R I S L N . BLVD . CRO S S I N G KATYPARK C V R I V E R LA N E L A N E PAT T I V A L L E Y V A L L E Y G A B R I E L DOW N R I D G E C I R C L E I N N W O O D LA N E TRAIL CACTU S ROAD THORNW O O D TR. FOX D R . C O U R T N E Y SIERR A W A Y T ES HW R T MEA D O W B L V D . D A W N A I R P O R T R O A D STE T S O N TRAIL D R . C A V E R N C O B B ST. WATE R RUNN I N G BASS S T . CIR . STE T S O N BER R Y T R . JUNIPE R WILD P L U M WA Y R I D E R T R A I L C I R C L E G L O R Y M O R N I N G WAYANEMONE DR. BELL BLUE CUP TR. TER BUT TR. BUS H BEAUT Y CIR. ANEMONE C I R . B U S H B E A U T Y WAYSTAR LONE D R . C O ONBR CIR . BR O N C O C I R . A S T E R WI L D H O R S E D R . E N C H A N T E D LOGAN R O A D S H E L L S P U R AIRP O R T R O A D DR I V E B R I A R C R E S T HAM L E T L E D G E M O N T YERRO T FO O T WI N G C I R C L E S P Y G L A S S TRAIL S A W G R A S S L N . H A C I E N D A DRIVE CR E E K BE R R Y DR I V E OAK M O N T CT. AUGUSTA BAY CT . CARME L ST. AN D R E W S D R I V E DRIV E T R E E OAK DRIVE DR. LA QU I N T A CT. JAS P E R CT. TURNBER R Y CT.MAGNOLI A CT.STILL W A T E R WATE R CLEA R - CT. DR. COLO N I A L CT HILL BAY D R . E D G E W O O D DRIVE HILLS OAKLA N D S BREN T W O O D LAS COLINAS R O A D ROAD BRANGUS ROAD MOUND INDIAN TRA I L TO N K A W A TRAIL DEER C O U R T K L E I N S H E R R I L L R O A D DRIVECLEAR V I E W L A N E C L O V E R D A L E CLEAR V I E W D R LANE DOVE ROCK L A N E T U R T L E D O V E FI E KN CIR . LON G D R KE E N L A N D NO R T H HI L L S CA R R I A G E DRIVE HILLS CARRIAGE D R TH U N D E R B A Y D R C H A S E ST E E P L E DRIVE DEL M A R GULFS T R E A M D R W A Y A N I T A S A N T A T R L A U T U M N L A N E DE R B Y BELMO N T PLPREAKNESS DRIVE FARMSCHURCHILL DR BLVD EDG E HESTON D R F L I N T R O C K L N T H U N D E R B I R D L N R A I N D A N C E TO M A H A W K T R IRONH O R S E T R EAGLE T R A C E WI L L I A M S D R I V E BL V D . PALEFACE DR I V E DRIVE REIN- RE I N H A R D T HARDT COURT STATE HWY 29 ST. HA R T S T . FO R E S T S T . RA I L R O A D W 13TH ST. E 11TH ST. 13TH ST. 14TH ST. S A U S T I N A V E . C H U R C H S T . MY R T L E S T . AS H S T . WA L N U T E 15TH ST. McCOY P L A C E EUNICE ST. KA T H E R I N E E 16TH S T . W 11TH ST. W UNIVERSITY AVE. EL M S T . VI N E S T . JA M E S S T . ST . SPRING HILLS HO L L O W RU C K E R S T . BR I D G E S T . MO N T G O M E R Y S T . WE S T S T R E E T MA R T I N L U T H E R K I N G J R . B L V D . DR I V E FO R E S T S T . S R O C K S T . E 2ND ST. W 3RD ST. S A U S T I N S M A I N S T . S C H U R C H S T . S M Y R T L E S T . S E L M S T . ST . W 4TH ST. W 5TH ST. W 6TH ST. W 7TH ST. W 8TH ST. W 9TH ST. W 10TH ST. E 10TH ST. E 8TH S T . E 7TH S T . S A S H S T . E 9TH ST. STATE H W Y 2 9 AV E . WA L N U T PI N E S T . HOLLO W RIVER OA K ROAD H I L L V I E W D R I V E DRIVE SHORT AV E . C.R. 265 DR I V E S O U T H B A R C U S D R . P E A C H - T R E E L A N E H A V E N L N . COURTBERGI N E 13TH ST. SUSANA CT. D R I V E LU T H E R D R I V E DEBORA SUS A N A WOODV I E W D R I V E R O C K C R E S T W O O D S T O N E D R I V E R O C K M O O R P I N O A K D R . B U R N I N G T R E E W O O D M O N T D R . OAK S B L V D . D R I V E F.M. 22 4 3 S H A D Y O A K D R I V E SPANISH OAK DR I V E DRIVE OAKLAND B R O O K S A N SUNSHINE MEADOW- SAN LINDA CT.MARIA CT. SUSA N A D R I V E R I D G E W O O D D R . FRIE N D S W O O D DR. F.M . 2 2 4 3 RIV E R W O O D D R . NORWOOD NO R W O O D W E S T RIVER NO R W O O D RIVER TREE GREE N W O O D D R . O A K W O O D D R . T A L L W O O D I N N W O O D D R I V E DE E P W O O D RIDGE RID G E W O O D D R . RIDGE- COVE IN N W O O D D R . S A N G A B R I E L OV E R L O O K 22ND ST. LEAND E R ROAD 24TH ST. KE N D E L L S T . 17TH ST. SC E N I C D R I V E BR I D G E 19TH ST. 18TH ST. HART ST. 18TH ST. W 16TH ST. W 15TH ST. 16TH ST.16TH ST. 17TH ST. 16TH S T . WA L N U T S T . 20TH ST. 19TH ST. 18TH ST. 17TH ST. CYRUS A V E . E U B A N K K N I G H T 19 1/2 S T . 19 1/2 S T . 20TH S T . H O G G S T . S O U T H P I N E S T . 17TH ST. 17 1/2 S T . PA I G E S T . IND U S T R I A L A V E . H I G H L A N D D R I V E C H U R C H S T . F . M . 1 4 6 0 LONG S A N J O S E S T . 22ND S T . 19TH S T . M A P L E S T . 17TH S T . E 18TH S T . E 19TH S T . H U T T O R O A D W I N C H E S T E R D R I V E R I F L E B E N D D R I V E T R A I L S E N D 15TH ST. L A U R E L S T . E 18TH S T . L O U I S E S T . E 17TH S T . V I R G I N A V I N E S T . GR E E N B R A N C H QUAI L V A L L E Y D R I V E Q U A I L H U N T E R S G L E N D R I V E TAMARA BRANC H DRIVE ST . S T . S T . 21ST ST. HA R T S T . CA N D E E S T . LE A N D E R S T . S T . OAK CIR. DR . DR. OAK WOOD O V E R L O O K E A S T GA B R I E L B V L D . D R . DR. LIVE D R . DRIVE D R . D R I V E COVE DRIV E COURT D R . B O W D R . THO U S A N D M E A D O W D R I V E D R I V E ROAD BROAD VISTA COURT R I D G E R U N FOXHO L L O W DRIVE OAKMONT COURT D R I V E R I V E R V I E W R I M R O C K DR I V E R I V E R D R I V E R I V E R V I E W SO U T H R I D G E C I R C L E RIDGE COURT BEND DRIVE RIVER RO A D C O V E COVE EDGE W O O D DR. HIDEAWAY LITTLE SOUTHC O U R T RABBI T H O L L O W L A N E R A B B I T R U N M O R N I N G D O V E L A N E PLEAS A N T B L U E B O N N E T S U N R I S E VALLE Y D R I V E THUN D E R V A L L E Y D R . GEOR G E T O W N V I E W L A N E S I L V E R C L O V E R V A L L E Y V A L L E Y L A N E L A N E L A N E VALLE Y HIGH T E C H D R . T E X S T A R D R . T O W E R D R . S M I T H B R A N C H C R E E K S I D E L A N E K A T Y L A N E SOUT H W A L K STREE T B L V D . RAINT R E E D R . C A R O L C O U R T JA N L A N E SOUTH F I N C H VI V I O N E 19TH S T . LANE C O L L E G E S T . A S H S T . H O L L Y C O F F E E S T . EL N O R A S T . SO U T H F O R K D R . TAMARA TANZA CT. CT. C . R . 1 1 6 K R I S T I N A D R I V E DEBOR A DRIV E D R I V E COTTO N T A I L L A N E M O R N I N G D O V E D R . W 14TH ST. SCE N I C D R I V E TI M B E R L A N E MA I N S T . P E C A N S T . M I M O S A S T . E 16TH S T . PI N E S T . MA P L E S T . OL I V E S T . LA U R E L S T . GE O R G E T O W N R . R . C.R. 11 1 SEGUNDO DRI V E VAL E N C I A CA D I Z BA R C E L O N A COURT LA N E DRIVE CO U R T CO U R T CO U R T B R A N G U S MADRID DRIVE M A L A G A D R I V E LAS PLUMAS GR A N A D A D R I V E C O R D O B A C I R C L E W E S T W E S T ALG E R I T A D R I V E F O U S T CAC T U S ROBLE SER E N A D A SOLONA CIRCLE DRIVE S E Q U O I A BELLO CIRCLEVE N A D A T R A I L RA M A D A T R A I L MESA D R I V E SEQU O I A T R A I L E A S T ESPAR A D A V E R D E V I S T A MA N Z A N I T A T R A I L V A L V E R D E D R I V E S E V I L L A D R I V E S E Q U O I A SIN U S O MESA DR I V E SEQUO I A T R A I L W E S T SEQU O I A S P U R W E S T TOLE D O A E R O DEL P R A D O L N . BOSQ U E T R A I L CIE L O D R I V E CA V U R O A D MARIPOSA T R A I L L U N A DRI V E TR A I L SIERRA COR D O B A CASA L U N A T R A I L ALHAMB R A TEJANO DEL RIO TADS SANALOMA DRIVE VORTAC LA N E CAVU PIL O T BARCELONA ROAD HALM A R C O V E RO A D T R A I L AZUL COURT ORO COURT DRIVE DRIVE T R A I L E A S T ROBLE CIRCLE CT D R I V E RO A D D R I V E G R A N A D A COURTCOURT COURT CIR . EA S T BL A N C A NO R T H W E S T B L V D . HEDG E W O O D DR. INDUS T R I A L P A R K C.R. 15 2 CALAD I U M DR. COURT BL V D . LOGA N R O A D L O G A N R O A D SERENADA D R I V E AIR P O R T R O A D CI M M A R R O N NO R T H C R O S S RICHLAND LANE RO A D RO A D S P R I N G OAK SPRING D R I V E POWER POW E R R O A D PARKER RANCH PARKWAY M E S Q U I T E JUD Y D R I V E BOB DRIVE ROA D O A K L A N E M E S Q U I T E KIM B E R L Y C O T T O N - P A R K E R O A K L A N E TIFFA N Y L A N E F . M . 2 3 3 8 B R O K E N H O L L O W LAK E W A Y W H I S P E R O A K S L A N E WES T E R N WAG O N P R I M R O S E T R A I L S P R I N G S L O N E S O M E T R A I L R O C K Y V E R N A H O R S E S H O E RAND O L P H R O A D SO U T H C R O S S QU A I L DRI V E ROAD C O U N T R Y HAGA N V A L L E Y R I D G E C R E S T R O A D H I G H V I E W R O A D R O A D D R I V E ROA D W O O D L A N D R O A D R I D G E C R E S T R I V E R R O A D JOH N T H O M A S D R I V E GA B R I E L A D D I E R O A D GAB R I E L V I E W D R I V E OA K C R E S T L A N E OA K R I D G E C I R C L E F M 2 3 3 8 ROAD O A K L A N E JAN I S LAN E CL A Y S T . P A R K L A N E W I L L I A M S D R I V E GOL D E N PARK LANE LANE W E S T W O O D THORNTON NORT H W O O D THO R N T O N SILV E R TAN G L E W O O D LA N E DRI V E DR I V E BLVD. CEN T R A L G A R D E N GOLDEN SHADY H O L L O W D R I V E N O OL D A I R P O R T R D . ROAD AI R P O R T GAR D E N GARD E N M E A D O W D R I V E GOLDEN VISTA DRIVE GARDEN VILLA F.M. 971 N O R T H W E S T W I L L I A M S F.M. 9 7 1 FR O N T A G E U.S . H W Y 8 1 DRIV E CIRCLE D R I V E LEA F RIVER DRIVE N O R T H F O R K S A N G A B R I E L R I V E R WHE E L TR A I L S P U R T R A I L T R A I L S P O K E T R A I L TRA I L CROSSING LANE DRIVE ROAD L A N E CROSSLA N D V I E W STREET ROAD POW E R CIRCLE L A N E D R I V E BEN D STR E E T CIRCLE DU N M A N GA B R I E L V I E W W H I T E LANE W O O D D R I V E CLUB COUR T LA N E LANE T E R R Y COVE VI L L A D R I V E DRIVE OAKS ROAD VIE W D R I V E OAKS BL V D . DRI V E SHA N N O N RIO VIST A RIO VISTA PARQ U E V I S T A L A N E BENCH M A R K S T . VISTA L A N E PAR Q U E PARQ U E PARQU E PAR K W A Y D R . GA N N S T R E E T P E C A N COVE COVE SAN GABRIEL PARK PAR K N O R T H W E S T B L V D . WIND M I L L COVE C.R. 15 1 JASMI N E EVERG R E E N CIRCLE COU R T SAN GABRIEL R I V E R RO A D SPUR R O A D S T A R V I E W POST DRI V E LAN E F A W N L A N E HAR M O N Y L A N E WHITES T O N E ST A R V I E W D R I V E W MORROW VALLEY RIVE R S I D E D R I V E CED A R D R I V E W SPRING N M A I N S T . N C H U R C H N M Y R T L E N C O L L E G E MOR R I S OAK LANE SKYLIN E S U N S E T DRIVE ST. ST. ST . ST . ST. S T A D I U M D R M.K . T . R A I L R O A D N E L M S T . ST. W O O D W A Y D R I V E ASHWOOD LANE GR A S S L A N D L A N E D R I V E STR E E T B U F F O L O B L U E B O N N E T T R A I L HED G E W O O D D R I V E CAN Y O N R O A D AR R O W H E A D JU N I P E R D R . AZ A L E A D R . JEFFE R S O N L N . IRIS D R . CA L A D I U M CR Y S T A L K N O L L WAY SISPO E R O F L O W E R S THE OF LA N E LI L Y C O V E BE L L FLOW E R S THEOF CO U R T TRAIL A L P I N E CIRCLE T R A I L DR STAR LANE CO V E A EN R B DEL W E B B B L V D . DR. V E LAN E LAR K S P U R RE DACA C I A W A Y T H I S T L E BLAZING CO L U M B I N E C O U R T DEWBERRY DRIVE DAND E L I O N D R P O P P Y VI N C A D R VINCA L I A T R I S L N EG R E T SA N D P I P E R WHITE WOODPECKER WAY POP P Y T R A I L TR A I L O F T H E F L O W E R S BLUE S T E M D R WH I P P O O R W I L L W A Y CH I C K A D E E SC I S S O R T A I L T R A I L WH I P P O O R W I L L CO V E WAY WINEC U P W A Y PA T H TR A I L DA I S Y PURPLE S A G E D R LANT A N A D R I V E SCI S S O R T A I L CO V E WARB L E R W A Y PAINT E D B U N T I N G SI L V E R - RO S E RO C K TRAIL ORANGE CIRCLE R A I N WAYGAILL A R D I A C T E A C U P CI R C L E CO U R T CO V E C O U R T P L U M A S DOWN LN.MYRT L E CREPE COVEBERR Y ELDE R - ST . EL D E R B E R R Y L N . MIS T F L O W E R DR . RU N I L I A DR . RU N I L I A CIR.RED O A K CIR. BLO S S O M PEA C H WA Y L A U R E L M O U N T A I N LA N E PER S I M M O N YAU P O N L A N E CIR . WA L N U T BL A C K DR I V E TEXAS TR A I L CHIS H O L M OLD ST. WAYIL TR A TLE CA T CI R . MU L B E R R Y CI R . TA I L SW A L L O W - CV . FA L C O N ST. CONFAL DR. LARIAT SI X F L A G S D R . D R . CO U N T R Y H I L L TR A I L M O O D Y DA N COVE SUCKLE HONEY- S T . S U N F L O W E R WA Y H A W K N I G H T CV. YUCCA D R . WI L D R O S E DRI V E SMITHACK BL D R . C O U N T Y H I G H C O V E B L A C K S M I T H C T . B L U E S K Y D R . H I G H T R A I L DR . SP R I N G S C O L D CIR. LILLY WATER- GOO D W A T E R D R I V E S P R I N G S C R Y S T A L WIND WHIS P E R I N G C . R . 2 1 6 C O U N C I L R O A D NASON I T R A I L EL A I N E AU S T I N AR A P A H O F R O N T I E R T R A I L T R A I L R I D G E R D . W O O D C R E S T R O A D O A K L A N D R O A D RIDG E W O O D R O A D E A S T DRIVE MEA D O W T I M B E R L I N E R O A D G R E Y S T O N E L A N E ROAD RID G E W O O D LA N E M O C K I N G B I R D T R A I L R E D B I R D ROAD VALLL E Y V I E W ROAD SUN S E T TEJAS T R A I L TRAILCOMAN C H E APACH E T R A I L W I C H I T A T R A I L N E C H E S T R A I L CHERO K E E T R A I L NAVAJ O T R A I L LAKE W O O D D R I V E S O U T H C H E R R Y W O O D L A N E LAKEW O O D D R I V E N O R T H J I B L A N E S H O A L D R I V E B O U Y D R I V E DRIVE HARBO U R REEF L A N E C . R . 2 6 2 DR. FI E L D D E E R DR . POIN T HUNTE R S R O A D SP R I N G S W A L N U T HES T E R H O L L O W COVE MELAN I E ROA D RE B E C C A LANE AUDR E Y LAN E LAU R E N LI Z L A N E BR A N C H OL I V E LANE LINDSEY FOU N T A I N W O O D L A N E C A S A L O M A D R I V E SEDRO T R A I L C T . T E R I D R I V E A C K E R PENNY L A N E OLD O A K S D R I V E RO A D BR E A K S CE D A R C R O S S I N G H O L L O W C E D A R Q U A I L D R . B L U E GLEN FAWN DR I V E BU E N O RANCHO RO A D HO L L O W C E D A R WAY C R O S S D R I V E L O S T R I V E R R O A D WINDRI D G E R O A D WINDRI D G E C O V E WESTL A K E P A R K W A Y LN LA M E S A D R I V E C A S S I D Y CT.BRUSH SAGE CEDAR R I D G E D R LANE LIMES T O N E R I O B R A V O R O A D CT. CASSIDY BEND C T OAK DRBRANC H CEDAR DR OA K S LE G E N D EA S T DR OA K S LE G E N D WE S T CT . WO O D D . B . W O O D R O A D WOODCREST COURT MANORWOOD COURT RIMROCK COVE BENT TREE DRIVE RIVER R I V E R V I E W RIDGEMONT COURT WI N D F L O W E R L A N E D R I V E MI R A M A R D R I V E VERDE V I S T A SEQU O I A S P U R W E S T LA P A L O M A L A S M A D R I D D R I V E ESPAR A D A D R I V E MA R I Q U I T A F . M . 2 3 3 8 GRE E N R I D G E R O A D RIDG E OAK GROVE LANE S H E P A R D FAIR V I E W R O A D BOOTY ' S CANDLELITE CIRCLE O A K P E C A N CLEAR SPANIS H CR E S T ROA D OAK SNAPPER T U R T L E TURTLE TO R T O I S E L A N E COVE BE N D COVE EVAN S SKYLINE SOUT H C R O S S RO A D D . B . W O O D R O A D CO U N T R Y R O A D RU S T L E C O V E CIR. RED WI N G W A Y P A S S P L O V E R CO V E WH I S P E R I N G WI N D D R I V E WE S T E R N B L V D . LN. NE I N N E R L O O P O W E N T R . PALO D U R O COMM E R C E B L V D P A R K CE N T R A L B L V D ROCKMOOR DRIVE M E L I S S A C O U R T STACEY LANE LA N E KA T H I DRI V E L A N E BRA N D Y V I L L A G E D R QUAIL DRI V E GRAP E V I N E SPRIN G S COVE WO O D B I N E CI R C L E HAR D W O O D GR O V E S S P R I N G W O O D LAN E HAWTHORNE COVE RIV E R OAKS CO V E CIRCLE V I S T A C O V E C I R C L E E S P A R A D A CH A M P I O N S DRIVEPO P P Y HILLS D R B E R R Y C O V E POP P Y H I L L S COV E S O U T H S O U T H PO P P Y H I L L S C V CHAMPION S D R I V E HAZELT I N E D R MEA D O W S E N D C . R . 2 6 5 N SE I N N E R L O O P I N D I A N C R E E K DRIVE E 8TH S T . HO L L Y S T . SOULE DR. SOUTHWES T E R N B L V D . W I L B A R G E R P L . A P P L E C R E E K D R . R O Y A L D R . RIVER HAVEN DR. W . L . WAS H A M D R . S E R V I C E D R . STEARMAN DR. TERM I N A L D R . H A N G E R R D . B E R R Y W O O D L A N E JIM D R . HO G G G A B R I E L F O R E S T VIL L A G E GL E N GRO V E CT. HA N O V E R CT . VIL L A G E CO M M O N S WEST B U R Y L N . GR E E N S I D E LA N E FA I R F I E L D CT . LEE GREEN BRIARCREST CT. CIR. BA N D E R A CV . RETAMA D R . TROTTER DR. PI M L I C O C V . H I G H - A L E A M E A D O W GR E E N S D R . VALLEY DR . RETAMA CT. COOP E R A T I V E W A Y C. R . 1 1 5 E X T . G O L F V I E W DR I V E BUR OAK L N MAL L A R D LN TANA G E R L A N E A R A N S A S C V W I L D T U R K E Y L N BL V D . T R A I L OLD M I L L RD CREEK DR. DR I V E ST A G E C O A C H PECOS CRT. M U R F I E L D D R . R I V E R C H A S E B L V D . OV E R L O O K CO U R T RIVER CHASE COURT RIV E R CH A S E B L V D . MASON RANCH DRIVE W A T E R S ED G E CI R C L E SAN GABRIEL VILLAGE BLVD . RA I L R O A D A V E . LA K E W A Y DRI V E MA P L E S T . BUTTER M I L K GAP E R U T T E R S V I L L E D R MCKENZIE DR. W E S E L Y A N D R 20TH S T . B R A Z O S D R I V E T E X A S T R A D I T I O N S S A B I N E LAVACA L N DRIVE WILD F L O W E R GRE E N HICK O R Y LN HIC K O R Y S A R A Z A N L O O P N O R T H SARAZEN LOOP SOUTH G E O R G I A N D R . CAN T E R B U R Y TRL R I D G E R U N D R W A L D E N D R . SCISSORTA I L T R A I L BRIAR PATCH COVE GR A P E V I N E L A N E HO L L Y B E R R Y LAN E AGAVE LAN E GOLD E N R O D SOT O L PAS S CHU C K W A G O N TRA I L D O U B L E FI R E T R . PR O S P E C T O R PA S S INDIAN S P R I N G S D R . FRI E N D L Y CR. CV. ROSE B U D L N LN SAD D L E TR .HARN E S S LN. LONG H O R N TR . BARNDANCE CV. RA N C H HO U S E CV . GR E A T FR O N T I E R DR. BRA N D I N G IRO N C V . CAM P DRI V E RO D E O D R . STO C K M A N TR O L I V E S T . W R U T T E R S V I L L E D R N A U S T I N A V E E M O R R O W S T . E SPRING ST. E UNIVERSITY AVE W 2ND ST. E 11TH ST. E 3RD ST. E 4TH ST. E 5TH ST. E 6TH ST. E 7TH ST. E 8TH ST. E 9TH ST. E 10TH ST. S C O L L E G E S T . DAVI D FERR E T T I DR LISCIO LOOP L A N C A S T E R D R LISCIO CV KIMRA CV HEW L E T T LOO P RO A D PAGE WHITNEY PARKWAY JO H N H A M I L T O N WA Y L O N D O N L N LOW E R P A R K R D LO W E R PAR K R D E M O R R O W S T . SE INNE R L O O P SE INN E R L O O P SMITH CRE E K R D SC E N I C BLUE HOLE PARK RD CANDL E R I D G E T R L ASHBE R R Y T R L ASHBE R R Y P L C S U M M E R C R E S T B L V D OSAGE C O U R T WISTER I A D R . D O G W O O D D R . B A R B E R R Y D R . HICKO R Y TREE D R . T E X A S DR I V E FALLS CIRCLE MOTLEY T R A I L CR O S B Y S T R E E T DA W S O N T R A I L LU B B O C K D R I V E WALLER COURT LYN N COV E NOLAN DR I V E SCU R R Y PA S S H A L E C O U R T S U N C I T Y B O U L E V A R D SUN CITY BLV D . E L K DR. C A R I B O U D R . COUGA R DR. WO L V E R I N E C V . BISON DR. LN. K I N G S W A Y RD. MIDNIG H T L N C.R. 1 6 6 HILLVU E R D . C.R. 1 1 1 C.R. 1 1 0 CARSO N C V C . R . 1 1 0 MATTH E W L N . M E L I S S A C I R . J E N N I F E R C I R . B R Y A N C I R . C.R. 1 0 5 C.R. 1 0 7 C.R . 1 0 4 C . R . 1 0 4 B E R R Y L A N E E A S T V I E W D R I V E DOVE V A L L E Y W I N D Y H I L L WHIG WAY L E A D S C A S T L E W A L K BRITTANIA BLVD. C.R. 1 7 6 DEER D R A W R D . BUCK S K I N CRT. ANT L E R D R . BUCK B E N D FAWN R I D G E DOE R U N W H I T E T A I L D R I V E B U C K L A N E A X I S D E E R C V . M U L E D E E R C V . FAUB I O N D R . FAUB I O N D R . P A T R I C A R D . P A T R I C A R D . DOE R U N C.R . 1 7 6 W O L F R D . STREE T OAK H A V E N C I R C L E LOS T OAK C O V E WRIGH T BROT H E R S DRIVE CO R S A I R D R . AVIAT I O N DR. F A I R W A Y D R . ARRO W H E A D R D . CHAMPIONS COURT WOODALL DR. D.B . W O O D R O A D D.B . W O O D R O A D R O A D B R E A K S C E D A R M E A D O W P A R K ME A D O W RIDG E INDIAN MEADOWME A N D E R I N G CR E E K S T I L L ME A D O W BR O O K M E A D O W BL U F F ME A D O W SC E N I C ME A D O W CO V E Y DO V E ME A D O W SP A R R O W CO V E G L E N ME A D O W STONE HENGE NE W B U R Y KEMPT O N A S C O T P R I V A T E D R I V E CHURC H I L L WAIZE L W A Y PER K I N S P L A C E J A N L N H O W R Y D R M C C O M B S A S H B U R Y UNI V E R C I T Y PAR K K U Y K E N D A L L M C C O O K WEIS S OLIN CV SE I N N E R L O O P M A P L E EAST R I D G E L N A V A L A N C H E P R E C I P I C E W A Y GREE N S L O P E O L D P E A K R D ZENIT H PINNA C L E BROA D PEAK H A W K E Y E LA CO N T E R R A GRAND E M E S A A N I M A S V A L L E S I T O M A N C O S C R E S T E D B U T T E N A T U R I T A GRAND JUNC T I O N WOLF R A N C H P K W Y RIV E R Y B L V D RIV E R B E N D T A N K S L Y C I R C L E WO O D L A K E M O R E L A N D S C H O O L SUN D A Y SCH O O L WO O D S T O C K CLI F F W O O D CED A R L A K E WIND HOL L O W LEA N N E W I L D W O O D WILD W O O D BOQ U I L L A TRL BIG T H I C K E T I N D I A N L O D G E HER I T A G E OAKS B E N D B I G B E N D F O R T D A V I S CA P R O C K C A N Y O N H I D D E N S P R I N G S ENC H A N T E D ROC K RIVER W A L K LOST M A P L E S FOSS I L RIM S O N O R A T R A C E PALO D U R O CANYO N B I G S P R I N G S SIERR A B L A N C O ROSED A L E ELM W O O D FAI R M O N T BE D F O R D PO P L A R B O X W O O D PLU M M A D R I D CON C O R D BL U E H A W PINION BIRC H B R I L E Y T A S C A T E NAMBO C A MORAL PASS R O W A N NA R A N J O MA D R O N E SHIN N E C O C K H I L L S PO P L A R RID G E BIG D R L O N G W E D G E PROS P E R I T Y H I L L S V E R R E N A T I G E R V A L L E Y FALCO N FLIGHTLOVIE LN J A Y D E E T E R DAWA N A L A V E R N E T E R S A N D H I L L S M I C K E L S O N KIERAN COVE PRAI R I E D U N E S CA S T L E PIN E S SINUS O GEORGETOWN, TEXAS 78626 CITY OF GEORGETOWN, TEXAS BY APPROVED BY DESIGNED BY DRAWN BY PROJECT NO. DATE REVISIONDATENO. Sean Iliff 14-118 Alvin R. Sutton III, P.E. PROPOSED STREET REHABILITATION - 5 YEAR C.I.P. WORK PLAN YEAR 2 BUDGET YEAR 2016 0 HORIZONTAL SCALE IN FEET 2000 4000 SHEET NO. YR-02 OF 5 SHEETS DESIGN SET C 2015 Kasberg, Patrick & Associates, LP KPA Firm Registration Number F-510 FI L E : P: \ G e o r g e t o w n \ 2 0 1 4 \ 1 4 - 1 1 8 5 Y R C I P \ C A D \ E x h i b i t \ 2 0 1 5 - 1 0 - 0 5 W O R K P L A N S \ 1 4 - 1 1 8 o a m a p - Y R 0 2 - 2 0 1 6 . d w g LA Y O U T : YR 2 - B 2 0 1 6 Plot Date: Oct 05, 2015 Plotted By: SILIFF Page 227 of 231 C.R . 1 5 2 C.R. 1 5 0 F.M. 9 7 2 WESTIN G H O U S E R O A D C . R . 1 0 2 C.R. 1 4 7 C.R. 1 4 3 SHEL L R O A D S T A T E H W Y 1 9 5 ST A T E H W Y 1 9 5 I.H . H W Y 3 5 STATE H W Y 2 9 OL D U . S . 8 1 H W Y C . R . 1 1 0 F . M . 1 4 6 0 F.M. 9 7 1 C.R. 2 4 7 WEB B C.R . 2 4 5 JENNI N G S B R A N C H HOG G ROA D JI M F.M. 3 4 0 5 A N D I C E R O A D ( F . M . 2 3 3 8 ) STATE H W Y 2 9 F.M. 2 2 4 3 DE L BL V D . I . H . H W Y 3 5 GEORGETOWN MUNICIPAL AIRPORT L A K E G E O R G E T O W N MID D L E F O R K S A N G A B R I E L R I V E R SOUTH FO R K S A N G A B R I E L R I V E R DR. GRANDE CIRC L E LN ST E P H E N CIRC L E MEADO W L A R K CVADKIN S CVROSE M A R Y T A N N E R COVE MAY BAS T I A N L N SPRIN G S C V PRAIRI E S P R I N G S L N P R A I R I E S P R I N G S L O O P P R A I R I E C L A R I S L N . BLVD . CRO S S I N G KATYPARK C V R I V E R LA N E L A N E PAT T I V A L L E Y V A L L E Y G A B R I E L DOW N R I D G E C I R C L E I N N W O O D LA N E TRAIL CACTU S ROAD THORNW O O D TR. FOX D R . C O U R T N E Y SIERR A W A Y T ES HW R T MEA D O W B L V D . D A W N A I R P O R T R O A D STE T S O N TRAIL D R . C A V E R N C O B B ST. WATE R RUNN I N G BASS S T . CIR . STE T S O N BER R Y T R . JUNIPE R WILD P L U M WA Y R I D E R T R A I L C I R C L E G L O R Y M O R N I N G WAYANEMONE DR. BELL BLUE CUP TR. TER BUT TR. BUS H BEAUT Y CIR. ANEMONE C I R . B U S H B E A U T Y WAYSTAR LONE D R . C O ONBR CIR . BR O N C O C I R . A S T E R WI L D H O R S E D R . E N C H A N T E D LOGAN R O A D S H E L L S P U R AIRP O R T R O A D DR I V E B R I A R C R E S T HAM L E T L E D G E M O N T YERRO T FO O T WI N G C I R C L E S P Y G L A S S TRAIL S A W G R A S S L N . H A C I E N D A DRIVE CR E E K BE R R Y DR I V E OAK M O N T CT. AUGUSTA BAY CT . CARME L ST. AN D R E W S D R I V E DRIV E T R E E OAK DRIVE DR. LA QU I N T A CT. JAS P E R CT. TURNBER R Y CT.MAGNOLI A CT.STILL W A T E R WATE R CLEA R - CT. DR. COLO N I A L CT HILL BAY D R . E D G E W O O D DRIVE HILLS OAKLA N D S BREN T W O O D LAS COLINAS R O A D ROAD BRANGUS ROAD MOUND INDIAN TRA I L TO N K A W A TRAIL DEER C O U R T K L E I N S H E R R I L L R O A D DRIVECLEAR V I E W L A N E C L O V E R D A L E CLEAR V I E W D R LANE DOVE ROCK L A N E T U R T L E D O V E FI E KN CIR . LON G D R KE E N L A N D NO R T H HI L L S CA R R I A G E DRIVE HILLS CARRIAGE D R TH U N D E R B A Y D R C H A S E ST E E P L E DRIVE DEL M A R GULFS T R E A M D R W A Y A N I T A S A N T A T R L A U T U M N L A N E DE R B Y BELMO N T PLPREAKNESS DRIVE FARMSCHURCHILL DR BLVD EDG E HESTON D R F L I N T R O C K L N T H U N D E R B I R D L N R A I N D A N C E TO M A H A W K T R IRONH O R S E T R EAGLE T R A C E WI L L I A M S D R I V E BL V D . PALEFACE DR I V E DRIVE REIN- RE I N H A R D T HARDT COURT STATE HWY 29 ST. HA R T S T . FO R E S T S T . RA I L R O A D W 13TH ST. E 11TH ST. 13TH ST. 14TH ST. S A U S T I N A V E . C H U R C H S T . MY R T L E S T . AS H S T . WA L N U T E 15TH ST. McCOY P L A C E EUNICE ST. KA T H E R I N E E 16TH S T . W 11TH ST. W UNIVERSITY AVE. EL M S T . VI N E S T . JA M E S S T . ST . SPRING HILLS HO L L O W RU C K E R S T . BR I D G E S T . MO N T G O M E R Y S T . WE S T S T R E E T MA R T I N L U T H E R K I N G J R . B L V D . DR I V E FO R E S T S T . S R O C K S T . E 2ND ST. W 3RD ST. S A U S T I N S M A I N S T . S C H U R C H S T . S M Y R T L E S T . S E L M S T . ST . W 4TH ST. W 5TH ST. W 6TH ST. W 7TH ST. W 8TH ST. W 9TH ST. W 10TH ST. E 10TH ST. E 8TH S T . E 7TH S T . S A S H S T . E 9TH ST. STATE H W Y 2 9 AV E . WA L N U T PI N E S T . HOLLO W RIVER OA K ROAD H I L L V I E W D R I V E DRIVE SHORT AV E . C.R. 265 DR I V E S O U T H B A R C U S D R . P E A C H - T R E E L A N E H A V E N L N . COURTBERGI N E 13TH ST. SUSANA CT. D R I V E LU T H E R D R I V E DEBORA SUS A N A WOODV I E W D R I V E R O C K C R E S T W O O D S T O N E D R I V E R O C K M O O R P I N O A K D R . B U R N I N G T R E E W O O D M O N T D R . OAK S B L V D . D R I V E F.M. 22 4 3 S H A D Y O A K D R I V E SPANISH OAK DR I V E DRIVE OAKLAND B R O O K S A N SUNSHINE MEADOW- SAN LINDA CT.MARIA CT. SUSA N A D R I V E R I D G E W O O D D R . FRIE N D S W O O D DR. F.M . 2 2 4 3 RIV E R W O O D D R . NORWOOD NO R W O O D W E S T RIVER NO R W O O D RIVER TREE GREE N W O O D D R . O A K W O O D D R . T A L L W O O D I N N W O O D D R I V E DE E P W O O D RIDGE RID G E W O O D D R . RIDGE- COVE IN N W O O D D R . S A N G A B R I E L OV E R L O O K 22ND ST. LEAND E R ROAD 24TH ST. KE N D E L L S T . 17TH ST. SC E N I C D R I V E BR I D G E 19TH ST. 18TH ST. HART ST. 18TH ST. W 16TH ST. W 15TH ST. 16TH ST.16TH ST. 17TH ST. 16TH S T . WA L N U T S T . 20TH ST. 19TH ST. 18TH ST. 17TH ST. CYRUS A V E . E U B A N K K N I G H T 19 1/2 S T . 19 1/2 S T . 20TH S T . H O G G S T . S O U T H P I N E S T . 17TH ST. 17 1/2 S T . PA I G E S T . IND U S T R I A L A V E . H I G H L A N D D R I V E C H U R C H S T . F . M . 1 4 6 0 LONG S A N J O S E S T . 22ND S T . 19TH S T . M A P L E S T . 17TH S T . E 18TH S T . E 19TH S T . H U T T O R O A D W I N C H E S T E R D R I V E R I F L E B E N D D R I V E T R A I L S E N D 15TH ST. L A U R E L S T . E 18TH S T . L O U I S E S T . E 17TH S T . V I R G I N A V I N E S T . GR E E N B R A N C H QUAI L V A L L E Y D R I V E Q U A I L H U N T E R S G L E N D R I V E TAMARA BRANC H DRIVE ST . S T . S T . 21ST ST. HA R T S T . CA N D E E S T . LE A N D E R S T . S T . OAK CIR. DR . DR. OAK WOOD O V E R L O O K E A S T GA B R I E L B V L D . D R . DR. LIVE D R . DRIVE D R . D R I V E COVE DRIV E COURT D R . B O W D R . THO U S A N D M E A D O W D R I V E D R I V E ROAD BROAD VISTA COURT R I D G E R U N FOXHO L L O W DRIVE OAKMONT COURT D R I V E R I V E R V I E W R I M R O C K DR I V E R I V E R D R I V E R I V E R V I E W SO U T H R I D G E C I R C L E RIDGE COURT BEND DRIVE RIVER RO A D C O V E COVE EDGE W O O D DR. HIDEAWAY LITTLE SOUTHC O U R T RABBI T H O L L O W L A N E R A B B I T R U N M O R N I N G D O V E L A N E PLEAS A N T B L U E B O N N E T S U N R I S E VALLE Y D R I V E THUN D E R V A L L E Y D R . GEOR G E T O W N V I E W L A N E S I L V E R C L O V E R V A L L E Y V A L L E Y L A N E L A N E L A N E VALLE Y HIGH T E C H D R . T E X S T A R D R . T O W E R D R . S M I T H B R A N C H C R E E K S I D E L A N E K A T Y L A N E SOUT H W A L K STREE T B L V D . RAINT R E E D R . C A R O L C O U R T JA N L A N E SOUTH F I N C H VI V I O N E 19TH S T . LANE C O L L E G E S T . A S H S T . H O L L Y C O F F E E S T . EL N O R A S T . SO U T H F O R K D R . TAMARA TANZA CT. CT. C . R . 1 1 6 K R I S T I N A D R I V E DEBOR A DRIV E D R I V E COTTO N T A I L L A N E M O R N I N G D O V E D R . W 14TH ST. SCE N I C D R I V E TI M B E R L A N E MA I N S T . P E C A N S T . M I M O S A S T . E 16TH S T . PI N E S T . MA P L E S T . OL I V E S T . LA U R E L S T . GE O R G E T O W N R . R . C.R. 11 1 SEGUNDO DRI V E VAL E N C I A CA D I Z BA R C E L O N A COURT LA N E DRIVE CO U R T CO U R T CO U R T B R A N G U S MADRID DRIVE M A L A G A D R I V E LAS PLUMAS GR A N A D A D R I V E C O R D O B A C I R C L E W E S T W E S T ALG E R I T A D R I V E F O U S T CAC T U S ROBLE SER E N A D A SOLONA CIRCLE DRIVE S E Q U O I A BELLO CIRCLEVE N A D A T R A I L RA M A D A T R A I L MESA D R I V E SEQU O I A T R A I L E A S T ESPAR A D A V E R D E V I S T A MA N Z A N I T A T R A I L V A L V E R D E D R I V E S E V I L L A D R I V E S E Q U O I A SIN U S O MESA DR I V E SEQUO I A T R A I L W E S T SEQU O I A S P U R W E S T TOLE D O A E R O DEL P R A D O L N . BOSQ U E T R A I L CIE L O D R I V E CA V U R O A D MARIPOSA T R A I L L U N A DRI V E TR A I L SIERRA COR D O B A CASA L U N A T R A I L ALHAMB R A TEJANO DEL RIO TADS SANALOMA DRIVE VORTAC LA N E CAVU PIL O T BARCELONA ROAD HALM A R C O V E RO A D T R A I L AZUL COURT ORO COURT DRIVE DRIVE T R A I L E A S T ROBLE CIRCLE CT D R I V E RO A D D R I V E G R A N A D A COURTCOURT COURT CIR . EA S T BL A N C A NO R T H W E S T B L V D . HEDG E W O O D DR. INDUS T R I A L P A R K C.R. 15 2 CALAD I U M DR. COURT BL V D . LOGA N R O A D L O G A N R O A D SERENADA D R I V E AIR P O R T R O A D CI M M A R R O N NO R T H C R O S S RICHLAND LANE RO A D RO A D S P R I N G OAK SPRING D R I V E POWER POW E R R O A D PARKER RANCH PARKWAY M E S Q U I T E JUD Y D R I V E BOB DRIVE ROA D O A K L A N E M E S Q U I T E KIM B E R L Y C O T T O N - P A R K E R O A K L A N E TIFFA N Y L A N E F . M . 2 3 3 8 B R O K E N H O L L O W LAK E W A Y W H I S P E R O A K S L A N E WES T E R N WAG O N P R I M R O S E T R A I L S P R I N G S L O N E S O M E T R A I L R O C K Y V E R N A H O R S E S H O E RAND O L P H R O A D SO U T H C R O S S QU A I L DRI V E ROAD C O U N T R Y HAGA N V A L L E Y R I D G E C R E S T R O A D H I G H V I E W R O A D R O A D D R I V E ROA D W O O D L A N D R O A D R I D G E C R E S T R I V E R R O A D JOH N T H O M A S D R I V E GA B R I E L A D D I E R O A D GAB R I E L V I E W D R I V E OA K C R E S T L A N E OA K R I D G E C I R C L E F M 2 3 3 8 ROAD O A K L A N E JAN I S LAN E CL A Y S T . P A R K L A N E W I L L I A M S D R I V E GOL D E N PARK LANE LANE W E S T W O O D THORNTON NORT H W O O D THO R N T O N SILV E R TAN G L E W O O D LA N E DRI V E DR I V E BLVD. CEN T R A L G A R D E N GOLDEN SHADY H O L L O W D R I V E N O OL D A I R P O R T R D . ROAD AI R P O R T GAR D E N GARD E N M E A D O W D R I V E GOLDEN VISTA DRIVE GARDEN VILLA F.M. 971 N O R T H W E S T W I L L I A M S F.M. 9 7 1 FR O N T A G E U.S . H W Y 8 1 DRIV E CIRCLE D R I V E LEA F RIVER DRIVE N O R T H F O R K S A N G A B R I E L R I V E R WHE E L TR A I L S P U R T R A I L T R A I L S P O K E T R A I L TRA I L CROSSING LANE DRIVE ROAD L A N E CROSSLA N D V I E W STREET ROAD POW E R CIRCLE L A N E D R I V E BEN D STR E E T CIRCLE DU N M A N GA B R I E L V I E W W H I T E LANE W O O D D R I V E CLUB COUR T LA N E LANE T E R R Y COVE VI L L A D R I V E DRIVE OAKS ROAD VIE W D R I V E OAKS BL V D . DRI V E SHA N N O N RIO VIST A RIO VISTA PARQ U E V I S T A L A N E BENCH M A R K S T . VISTA L A N E PAR Q U E PARQ U E PARQU E PAR K W A Y D R . GA N N S T R E E T P E C A N COVE COVE SAN GABRIEL PARK PAR K N O R T H W E S T B L V D . WIND M I L L COVE C.R. 15 1 JASMI N E EVERG R E E N CIRCLE COU R T SAN GABRIEL R I V E R RO A D SPUR R O A D S T A R V I E W POST DRI V E LAN E F A W N L A N E HAR M O N Y L A N E WHITES T O N E ST A R V I E W D R I V E W MORROW VALLEY RIVE R S I D E D R I V E CED A R D R I V E W SPRING N M A I N S T . N C H U R C H N M Y R T L E N C O L L E G E MOR R I S OAK LANE SKYLIN E S U N S E T DRIVE ST. ST. ST . ST . ST. S T A D I U M D R M.K . T . R A I L R O A D N E L M S T . ST. W O O D W A Y D R I V E ASHWOOD LANE GR A S S L A N D L A N E D R I V E STR E E T B U F F O L O B L U E B O N N E T T R A I L HED G E W O O D D R I V E CAN Y O N R O A D AR R O W H E A D JU N I P E R D R . AZ A L E A D R . JEFFE R S O N L N . IRIS D R . CA L A D I U M CR Y S T A L K N O L L WAY SISPO E R O F L O W E R S THE OF LA N E LI L Y C O V E BE L L FLOW E R S THEOF CO U R T TRAIL A L P I N E CIRCLE T R A I L DR STAR LANE CO V E A EN R B DEL W E B B B L V D . DR. V E LAN E LAR K S P U R RE DACA C I A W A Y T H I S T L E BLAZING CO L U M B I N E C O U R T DEWBERRY DRIVE DAND E L I O N D R P O P P Y VI N C A D R VINCA L I A T R I S L N EG R E T SA N D P I P E R WHITE WOODPECKER WAY POP P Y T R A I L TR A I L O F T H E F L O W E R S BLUE S T E M D R WH I P P O O R W I L L W A Y CH I C K A D E E SC I S S O R T A I L T R A I L WH I P P O O R W I L L CO V E WAY WINEC U P W A Y PA T H TR A I L DA I S Y PURPLE S A G E D R LANT A N A D R I V E SCI S S O R T A I L CO V E WARB L E R W A Y PAINT E D B U N T I N G SI L V E R - RO S E RO C K TRAIL ORANGE CIRCLE R A I N WAYGAILL A R D I A C T E A C U P CI R C L E CO U R T CO V E C O U R T P L U M A S DOWN LN.MYRT L E CREPE COVEBERR Y ELDE R - ST . EL D E R B E R R Y L N . MIS T F L O W E R DR . RU N I L I A DR . RU N I L I A CIR.RED O A K CIR. BLO S S O M PEA C H WA Y L A U R E L M O U N T A I N LA N E PER S I M M O N YAU P O N L A N E CIR . WA L N U T BL A C K DR I V E TEXAS TR A I L CHIS H O L M OLD ST. WAYIL TR A TLE CA T CI R . MU L B E R R Y CI R . TA I L SW A L L O W - CV . FA L C O N ST. CONFAL DR. LARIAT SI X F L A G S D R . D R . CO U N T R Y H I L L TR A I L M O O D Y DA N COVE SUCKLE HONEY- S T . S U N F L O W E R WA Y H A W K N I G H T CV. YUCCA D R . WI L D R O S E DRI V E SMITHACK BL D R . C O U N T Y H I G H C O V E B L A C K S M I T H C T . B L U E S K Y D R . H I G H T R A I L DR . SP R I N G S C O L D CIR. LILLY WATER- GOO D W A T E R D R I V E S P R I N G S C R Y S T A L WIND WHIS P E R I N G C . R . 2 1 6 C O U N C I L R O A D NASON I T R A I L EL A I N E AU S T I N AR A P A H O F R O N T I E R T R A I L T R A I L R I D G E R D . W O O D C R E S T R O A D O A K L A N D R O A D RIDG E W O O D R O A D E A S T DRIVE MEA D O W T I M B E R L I N E R O A D G R E Y S T O N E L A N E ROAD RID G E W O O D LA N E M O C K I N G B I R D T R A I L R E D B I R D ROAD VALLL E Y V I E W ROAD SUN S E T TEJAS T R A I L TRAILCOMAN C H E APACH E T R A I L W I C H I T A T R A I L N E C H E S T R A I L CHERO K E E T R A I L NAVAJ O T R A I L LAKE W O O D D R I V E S O U T H C H E R R Y W O O D L A N E LAKEW O O D D R I V E N O R T H J I B L A N E S H O A L D R I V E B O U Y D R I V E DRIVE HARBO U R REEF L A N E C . R . 2 6 2 DR. FI E L D D E E R DR . POIN T HUNTE R S R O A D SP R I N G S W A L N U T HES T E R H O L L O W COVE MELAN I E ROA D RE B E C C A LANE AUDR E Y LAN E LAU R E N LI Z L A N E BR A N C H OL I V E LANE LINDSEY FOU N T A I N W O O D L A N E C A S A L O M A D R I V E SEDRO T R A I L C T . T E R I D R I V E A C K E R PENNY L A N E OLD O A K S D R I V E RO A D BR E A K S CE D A R C R O S S I N G H O L L O W C E D A R Q U A I L D R . B L U E GLEN FAWN DR I V E BU E N O RANCHO RO A D HO L L O W C E D A R WAY C R O S S D R I V E L O S T R I V E R R O A D WINDRI D G E R O A D WINDRI D G E C O V E WESTL A K E P A R K W A Y LN LA M E S A D R I V E C A S S I D Y CT.BRUSH SAGE CEDAR R I D G E D R LANE LIMES T O N E R I O B R A V O R O A D CT. CASSIDY BEND C T OAK DRBRANC H CEDAR DR OA K S LE G E N D EA S T DR OA K S LE G E N D WE S T CT . WO O D D . B . W O O D R O A D WOODCREST COURT MANORWOOD COURT RIMROCK COVE BENT TREE DRIVE RIVER R I V E R V I E W RIDGEMONT COURT WI N D F L O W E R L A N E D R I V E MI R A M A R D R I V E VERDE V I S T A SEQU O I A S P U R W E S T LA P A L O M A L A S M A D R I D D R I V E ESPAR A D A D R I V E MA R I Q U I T A F . M . 2 3 3 8 GRE E N R I D G E R O A D RIDG E OAK GROVE LANE S H E P A R D FAIR V I E W R O A D BOOTY ' S CANDLELITE CIRCLE O A K P E C A N CLEAR SPANIS H CR E S T ROA D OAK SNAPPER T U R T L E TURTLE TO R T O I S E L A N E COVE BE N D COVE EVAN S SKYLINE SOUT H C R O S S RO A D D . B . W O O D R O A D CO U N T R Y R O A D RU S T L E C O V E CIR. RED WI N G W A Y P A S S P L O V E R CO V E WH I S P E R I N G WI N D D R I V E WE S T E R N B L V D . LN. NE I N N E R L O O P O W E N T R . PALO D U R O COMM E R C E B L V D P A R K CE N T R A L B L V D ROCKMOOR DRIVE M E L I S S A C O U R T STACEY LANE LA N E KA T H I DRI V E L A N E BRA N D Y V I L L A G E D R QUAIL DRI V E GRAP E V I N E SPRIN G S COVE WO O D B I N E CI R C L E HAR D W O O D GR O V E S S P R I N G W O O D LAN E HAWTHORNE COVE RIV E R OAKS CO V E CIRCLE V I S T A C O V E C I R C L E E S P A R A D A CH A M P I O N S DRIVEPO P P Y HILLS D R B E R R Y C O V E POP P Y H I L L S COV E S O U T H S O U T H PO P P Y H I L L S C V CHAMPION S D R I V E HAZELT I N E D R MEA D O W S E N D C . R . 2 6 5 N SE I N N E R L O O P I N D I A N C R E E K DRIVE E 8TH S T . HO L L Y S T . SOULE DR. SOUTHWES T E R N B L V D . W I L B A R G E R P L . A P P L E C R E E K D R . R O Y A L D R . RIVER HAVEN DR. W . L . WAS H A M D R . S E R V I C E D R . STEARMAN DR. TERM I N A L D R . H A N G E R R D . B E R R Y W O O D L A N E JIM D R . HO G G G A B R I E L F O R E S T VIL L A G E GL E N GRO V E CT. HA N O V E R CT . VIL L A G E CO M M O N S WEST B U R Y L N . GR E E N S I D E LA N E FA I R F I E L D CT . LEE GREEN BRIARCREST CT. CIR. BA N D E R A CV . RETAMA D R . TROTTER DR. PI M L I C O C V . H I G H - A L E A M E A D O W GR E E N S D R . VALLEY DR . RETAMA CT. COOP E R A T I V E W A Y C. R . 1 1 5 E X T . G O L F V I E W DR I V E BUR OAK L N MAL L A R D LN TANA G E R L A N E A R A N S A S C V W I L D T U R K E Y L N BL V D . T R A I L OLD M I L L RD CREEK DR. DR I V E ST A G E C O A C H PECOS CRT. M U R F I E L D D R . R I V E R C H A S E B L V D . OV E R L O O K CO U R T RIVER CHASE COURT RIV E R CH A S E B L V D . MASON RANCH DRIVE W A T E R S ED G E CI R C L E SAN GABRIEL VILLAGE BLVD . RA I L R O A D A V E . LA K E W A Y DRI V E MA P L E S T . BUTTER M I L K GAP E R U T T E R S V I L L E D R MCKENZIE DR. W E S E L Y A N D R 20TH S T . B R A Z O S D R I V E T E X A S T R A D I T I O N S S A B I N E LAVACA L N DRIVE WILD F L O W E R GRE E N HICK O R Y LN HIC K O R Y S A R A Z A N L O O P N O R T H SARAZEN LOOP SOUTH G E O R G I A N D R . CAN T E R B U R Y TRL R I D G E R U N D R W A L D E N D R . SCISSORTA I L T R A I L BRIAR PATCH COVE GR A P E V I N E L A N E HO L L Y B E R R Y LAN E AGAVE LAN E GOLD E N R O D SOT O L PAS S CHU C K W A G O N TRA I L D O U B L E FI R E T R . PR O S P E C T O R PA S S INDIAN S P R I N G S D R . FRI E N D L Y CR. CV. ROSE B U D L N LN SAD D L E TR .HARN E S S LN. LONG H O R N TR . BARNDANCE CV. RA N C H HO U S E CV . GR E A T FR O N T I E R DR. BRA N D I N G IRO N C V . CAM P DRI V E RO D E O D R . STO C K M A N TR O L I V E S T . W R U T T E R S V I L L E D R N A U S T I N A V E E M O R R O W S T . E SPRING ST. E UNIVERSITY AVE W 2ND ST. E 11TH ST. E 3RD ST. E 4TH ST. E 5TH ST. E 6TH ST. E 7TH ST. E 8TH ST. E 9TH ST. E 10TH ST. S C O L L E G E S T . DAVI D FERR E T T I DR LISCIO LOOP L A N C A S T E R D R LISCIO CV KIMRA CV HEW L E T T LOO P RO A D PAGE WHITNEY PARKWAY JO H N H A M I L T O N WA Y L O N D O N L N LOW E R P A R K R D LO W E R PAR K R D E M O R R O W S T . SE INNE R L O O P SE INN E R L O O P SMITH CRE E K R D SC E N I C BLUE HOLE PARK RD CANDL E R I D G E T R L ASHBE R R Y T R L ASHBE R R Y P L C S U M M E R C R E S T B L V D OSAGE C O U R T WISTER I A D R . D O G W O O D D R . B A R B E R R Y D R . HICKO R Y TREE D R . T E X A S DR I V E FALLS CIRCLE MOTLEY T R A I L CR O S B Y S T R E E T DA W S O N T R A I L LU B B O C K D R I V E WALLER COURT LYN N COV E NOLAN DR I V E SCU R R Y PA S S H A L E C O U R T S U N C I T Y B O U L E V A R D SUN CITY BLV D . E L K DR. C A R I B O U D R . COUGA R DR. WO L V E R I N E C V . BISON DR. LN. K I N G S W A Y RD. MIDNIG H T L N C.R. 1 6 6 HILLVU E R D . C.R. 1 1 1 C.R. 1 1 0 CARSO N C V C . R . 1 1 0 MATTH E W L N . M E L I S S A C I R . J E N N I F E R C I R . B R Y A N C I R . C.R. 1 0 5 C.R. 1 0 7 C.R . 1 0 4 C . R . 1 0 4 B E R R Y L A N E E A S T V I E W D R I V E DOVE V A L L E Y W I N D Y H I L L WHIG WAY L E A D S C A S T L E W A L K BRITTANIA BLVD. C.R. 1 7 6 DEER D R A W R D . BUCK S K I N CRT. ANT L E R D R . BUCK B E N D FAWN R I D G E DOE R U N W H I T E T A I L D R I V E B U C K L A N E A X I S D E E R C V . M U L E D E E R C V . FAUB I O N D R . FAUB I O N D R . P A T R I C A R D . P A T R I C A R D . DOE R U N C.R . 1 7 6 W O L F R D . STREE T OAK H A V E N C I R C L E LOS T OAK C O V E WRIGH T BROT H E R S DRIVE CO R S A I R D R . AVIAT I O N DR. F A I R W A Y D R . ARRO W H E A D R D . CHAMPIONS COURT WOODALL DR. D.B . W O O D R O A D D.B . W O O D R O A D R O A D B R E A K S C E D A R M E A D O W P A R K ME A D O W RIDG E INDIAN MEADOWME A N D E R I N G CR E E K S T I L L ME A D O W BR O O K M E A D O W BL U F F ME A D O W SC E N I C ME A D O W CO V E Y DO V E ME A D O W SP A R R O W CO V E G L E N ME A D O W STONE HENGE NE W B U R Y KEMPT O N A S C O T P R I V A T E D R I V E CHURC H I L L WAIZE L W A Y PER K I N S P L A C E J A N L N H O W R Y D R M C C O M B S A S H B U R Y UNI V E R C I T Y PAR K K U Y K E N D A L L M C C O O K WEIS S OLIN CV SE I N N E R L O O P M A P L E EAST R I D G E L N A V A L A N C H E P R E C I P I C E W A Y GREE N S L O P E O L D P E A K R D ZENIT H PINNA C L E BROA D PEAK H A W K E Y E LA CO N T E R R A GRAND E M E S A A N I M A S V A L L E S I T O M A N C O S C R E S T E D B U T T E N A T U R I T A GRAND JUNC T I O N WOLF R A N C H P K W Y RIV E R Y B L V D RIV E R B E N D T A N K S L Y C I R C L E WO O D L A K E M O R E L A N D S C H O O L SUN D A Y SCH O O L WO O D S T O C K CLI F F W O O D CED A R L A K E WIND HOL L O W LEA N N E W I L D W O O D WILD W O O D BOQ U I L L A TRL BIG T H I C K E T I N D I A N L O D G E HER I T A G E OAKS B E N D B I G B E N D F O R T D A V I S CA P R O C K C A N Y O N H I D D E N S P R I N G S ENC H A N T E D ROC K RIVER W A L K LOST M A P L E S FOSS I L RIM S O N O R A T R A C E PALO D U R O CANYO N B I G S P R I N G S SIERR A B L A N C O ROSED A L E ELM W O O D FAI R M O N T BE D F O R D PO P L A R B O X W O O D PLU M M A D R I D CON C O R D BL U E H A W PINION BIRC H B R I L E Y T A S C A T E NAMBO C A MORAL PASS R O W A N NA R A N J O MA D R O N E SHIN N E C O C K H I L L S PO P L A R RID G E BIG D R L O N G W E D G E PROS P E R I T Y H I L L S V E R R E N A T I G E R V A L L E Y FALCO N FLIGHTLOVIE LN J A Y D E E T E R DAWA N A L A V E R N E T E R S A N D H I L L S M I C K E L S O N KIERAN COVE PRAI R I E D U N E S CA S T L E PIN E S SINUS O GEORGETOWN, TEXAS 78626 CITY OF GEORGETOWN, TEXAS BY APPROVED BY DESIGNED BY DRAWN BY PROJECT NO. DATE REVISIONDATENO. Sean Iliff 14-118 Alvin R. Sutton III, P.E. PROPOSED STREET REHABILITATION - 5 YEAR C.I.P. WORK PLAN YEAR 2 - REVISION 01 BUDGET YEAR 2016 0 HORIZONTAL SCALE IN FEET 2000 4000 SHEET NO. YR-02 OF 5 SHEETS DESIGN SET C 2015 Kasberg, Patrick & Associates, LP KPA Firm Registration Number F-510 FI L E : P: \ G e o r g e t o w n \ 2 0 1 4 \ 1 4 - 1 1 8 5 Y R C I P \ C A D \ E x h i b i t \ 2 0 1 6 - 0 3 - 0 2 2 0 1 6 2 0 1 7 u p d a t e s \ 1 4 - 1 1 8 o a m a p - Y R 0 2 - 2 0 1 6 r e v 0 1 . d w g LA Y O U T : YR 2 - B 2 0 1 6 Plot Date: Oct 05, 2015 Plotted By: SILIFF Page 228 of 231 C.R . 1 5 2 C.R. 1 5 0 F.M. 9 7 2 WESTIN G H O U S E R O A D C . R . 1 0 2 C.R. 1 4 7 C.R. 1 4 3 SHEL L R O A D S T A T E H W Y 1 9 5 ST A T E H W Y 1 9 5 I.H . H W Y 3 5 STATE H W Y 2 9 OL D U . S . 8 1 H W Y C . R . 1 1 0 F . M . 1 4 6 0 F.M. 9 7 1 C.R. 2 4 7 WEB B C.R . 2 4 5 JENNI N G S B R A N C H HOG G ROA D JI M F.M. 3 4 0 5 A N D I C E R O A D ( F . M . 2 3 3 8 ) STATE H W Y 2 9 F.M. 2 2 4 3 DE L BL V D . I . H . H W Y 3 5 GEORGETOWN MUNICIPAL AIRPORT L A K E G E O R G E T O W N MID D L E F O R K S A N G A B R I E L R I V E R SOUTH FO R K S A N G A B R I E L R I V E R DR. GRANDE CIRC L E LN ST E P H E N CIRC L E MEADO W L A R K CVADKIN S CVROSE M A R Y T A N N E R COVE MAY BAS T I A N L N SPRIN G S C V PRAIRI E S P R I N G S L N P R A I R I E S P R I N G S L O O P P R A I R I E C L A R I S L N . BLVD . CRO S S I N G KATYPARK C V R I V E R LA N E L A N E PAT T I V A L L E Y V A L L E Y G A B R I E L DOW N R I D G E C I R C L E I N N W O O D LA N E TRAIL CACTU S ROAD THORNW O O D TR. FOX D R . C O U R T N E Y SIERR A W A Y T ES HW R T MEA D O W B L V D . D A W N A I R P O R T R O A D STE T S O N TRAIL D R . C A V E R N C O B B ST. WATE R RUNN I N G BASS S T . CIR . STE T S O N BER R Y T R . JUNIPE R WILD P L U M WA Y R I D E R T R A I L C I R C L E G L O R Y M O R N I N G WAYANEMONE DR. BELL BLUE CUP TR. TER BUT TR. BUS H BEAUT Y CIR. ANEMONE C I R . B U S H B E A U T Y WAYSTAR LONE D R . C O ONBR CIR . BR O N C O C I R . A S T E R WI L D H O R S E D R . E N C H A N T E D LOGAN R O A D S H E L L S P U R AIRP O R T R O A D DR I V E B R I A R C R E S T HAM L E T L E D G E M O N T YERRO T FO O T WI N G C I R C L E S P Y G L A S S TRAIL S A W G R A S S L N . H A C I E N D A DRIVE CR E E K BE R R Y DR I V E OAK M O N T CT. AUGUSTA BAY CT . CARME L ST. AN D R E W S D R I V E DRIV E T R E E OAK DRIVE DR. LA QU I N T A CT. JAS P E R CT. TURNBER R Y CT.MAGNOLI A CT.STILL W A T E R WATE R CLEA R - CT. DR. COLO N I A L CT HILL BAY D R . E D G E W O O D DRIVE HILLS OAKLA N D S BREN T W O O D LAS COLINAS R O A D ROAD BRANGUS ROAD MOUND INDIAN TRA I L TO N K A W A TRAIL DEER C O U R T K L E I N S H E R R I L L R O A D DRIVECLEAR V I E W L A N E C L O V E R D A L E CLEAR V I E W D R LANE DOVE ROCK L A N E T U R T L E D O V E FI E KN CIR . LON G D R KE E N L A N D NO R T H HI L L S CA R R I A G E DRIVE HILLS CARRIAGE D R TH U N D E R B A Y D R C H A S E ST E E P L E DRIVE DEL M A R GULFS T R E A M D R W A Y A N I T A S A N T A T R L A U T U M N L A N E DE R B Y BELMO N T PLPREAKNESS DRIVE FARMSCHURCHILL DR BLVD EDG E HESTON D R F L I N T R O C K L N T H U N D E R B I R D L N R A I N D A N C E TO M A H A W K T R IRONH O R S E T R EAGLE T R A C E WI L L I A M S D R I V E BL V D . PALEFACE DR I V E DRIVE REIN- RE I N H A R D T HARDT COURT STATE HWY 29 ST. HA R T S T . FO R E S T S T . RA I L R O A D W 13TH ST. E 11TH ST. 13TH ST. 14TH ST. S A U S T I N A V E . C H U R C H S T . MY R T L E S T . AS H S T . WA L N U T E 15TH ST. McCOY P L A C E EUNICE ST. KA T H E R I N E E 16TH S T . W 11TH ST. W UNIVERSITY AVE. EL M S T . VI N E S T . JA M E S S T . ST . SPRING HILLS HO L L O W RU C K E R S T . BR I D G E S T . MO N T G O M E R Y S T . WE S T S T R E E T MA R T I N L U T H E R K I N G J R . B L V D . DR I V E FO R E S T S T . S R O C K S T . E 2ND ST. W 3RD ST. S A U S T I N S M A I N S T . S C H U R C H S T . S M Y R T L E S T . S E L M S T . ST . W 4TH ST. W 5TH ST. W 6TH ST. W 7TH ST. W 8TH ST. W 9TH ST. W 10TH ST. E 10TH ST. E 8TH S T . E 7TH S T . S A S H S T . E 9TH ST. STATE H W Y 2 9 AV E . WA L N U T PI N E S T . HOLLO W RIVER OA K ROAD H I L L V I E W D R I V E DRIVE SHORT AV E . C.R. 265 DR I V E S O U T H B A R C U S D R . P E A C H - T R E E L A N E H A V E N L N . COURTBERGI N E 13TH ST. SUSANA CT. D R I V E LU T H E R D R I V E DEBORA SUS A N A WOODV I E W D R I V E R O C K C R E S T W O O D S T O N E D R I V E R O C K M O O R P I N O A K D R . B U R N I N G T R E E W O O D M O N T D R . OAK S B L V D . D R I V E F.M. 22 4 3 S H A D Y O A K D R I V E SPANISH OAK DR I V E DRIVE OAKLAND B R O O K S A N SUNSHINE MEADOW- SAN LINDA CT.MARIA CT. SUSA N A D R I V E R I D G E W O O D D R . FRIE N D S W O O D DR. F.M . 2 2 4 3 RIV E R W O O D D R . NORWOOD NO R W O O D W E S T RIVER NO R W O O D RIVER TREE GREE N W O O D D R . O A K W O O D D R . T A L L W O O D I N N W O O D D R I V E DE E P W O O D RIDGE RID G E W O O D D R . RIDGE- COVE IN N W O O D D R . S A N G A B R I E L OV E R L O O K 22ND ST. LEAND E R ROAD 24TH ST. KE N D E L L S T . 17TH ST. SC E N I C D R I V E BR I D G E 19TH ST. 18TH ST. HART ST. 18TH ST. W 16TH ST. W 15TH ST. 16TH ST.16TH ST. 17TH ST. 16TH S T . WA L N U T S T . 20TH ST. 19TH ST. 18TH ST. 17TH ST. CYRUS A V E . E U B A N K K N I G H T 19 1/2 S T . 19 1/2 S T . 20TH S T . H O G G S T . S O U T H P I N E S T . 17TH ST. 17 1/2 S T . PA I G E S T . IND U S T R I A L A V E . H I G H L A N D D R I V E C H U R C H S T . F . M . 1 4 6 0 LONG S A N J O S E S T . 22ND S T . 19TH S T . M A P L E S T . 17TH S T . E 18TH S T . E 19TH S T . H U T T O R O A D W I N C H E S T E R D R I V E R I F L E B E N D D R I V E T R A I L S E N D 15TH ST. L A U R E L S T . E 18TH S T . L O U I S E S T . E 17TH S T . V I R G I N A V I N E S T . GR E E N B R A N C H QUAI L V A L L E Y D R I V E Q U A I L H U N T E R S G L E N D R I V E TAMARA BRANC H DRIVE ST . S T . S T . 21ST ST. HA R T S T . CA N D E E S T . LE A N D E R S T . S T . OAK CIR. DR . DR. OAK WOOD O V E R L O O K E A S T GA B R I E L B V L D . D R . DR. LIVE D R . DRIVE D R . D R I V E COVE DRIV E COURT D R . B O W D R . THO U S A N D M E A D O W D R I V E D R I V E ROAD BROAD VISTA COURT R I D G E R U N FOXHO L L O W DRIVE OAKMONT COURT D R I V E R I V E R V I E W R I M R O C K DR I V E R I V E R D R I V E R I V E R V I E W SO U T H R I D G E C I R C L E RIDGE COURT BEND DRIVE RIVER RO A D C O V E COVE EDGE W O O D DR. HIDEAWAY LITTLE SOUTHC O U R T RABBI T H O L L O W L A N E R A B B I T R U N M O R N I N G D O V E L A N E PLEAS A N T B L U E B O N N E T S U N R I S E VALLE Y D R I V E THUN D E R V A L L E Y D R . GEOR G E T O W N V I E W L A N E S I L V E R C L O V E R V A L L E Y V A L L E Y L A N E L A N E L A N E VALLE Y HIGH T E C H D R . T E X S T A R D R . T O W E R D R . S M I T H B R A N C H C R E E K S I D E L A N E K A T Y L A N E SOUT H W A L K STREE T B L V D . RAINT R E E D R . C A R O L C O U R T JA N L A N E SOUTH F I N C H VI V I O N E 19TH S T . LANE C O L L E G E S T . A S H S T . H O L L Y C O F F E E S T . EL N O R A S T . SO U T H F O R K D R . TAMARA TANZA CT. CT. C . R . 1 1 6 K R I S T I N A D R I V E DEBOR A DRIV E D R I V E COTTO N T A I L L A N E M O R N I N G D O V E D R . W 14TH ST. SCE N I C D R I V E TI M B E R L A N E MA I N S T . P E C A N S T . M I M O S A S T . E 16TH S T . PI N E S T . MA P L E S T . OL I V E S T . LA U R E L S T . GE O R G E T O W N R . R . C.R. 11 1 SEGUNDO DRI V E VAL E N C I A CA D I Z BA R C E L O N A COURT LA N E DRIVE CO U R T CO U R T CO U R T B R A N G U S MADRID DRIVE M A L A G A D R I V E LAS PLUMAS GR A N A D A D R I V E C O R D O B A C I R C L E W E S T W E S T ALG E R I T A D R I V E F O U S T CAC T U S ROBLE SER E N A D A SOLONA CIRCLE DRIVE S E Q U O I A BELLO CIRCLEVE N A D A T R A I L RA M A D A T R A I L MESA D R I V E SEQU O I A T R A I L E A S T ESPAR A D A V E R D E V I S T A MA N Z A N I T A T R A I L V A L V E R D E D R I V E S E V I L L A D R I V E S E Q U O I A SIN U S O MESA DR I V E SEQUO I A T R A I L W E S T SEQU O I A S P U R W E S T TOLE D O A E R O DEL P R A D O L N . BOSQ U E T R A I L CIE L O D R I V E CA V U R O A D MARIPOSA T R A I L L U N A DRI V E TR A I L SIERRA COR D O B A CASA L U N A T R A I L ALHAMB R A TEJANO DEL RIO TADS SANALOMA DRIVE VORTAC LA N E CAVU PIL O T BARCELONA ROAD HALM A R C O V E RO A D T R A I L AZUL COURT ORO COURT DRIVE DRIVE T R A I L E A S T ROBLE CIRCLE CT D R I V E RO A D D R I V E G R A N A D A COURTCOURT COURT CIR . EA S T BL A N C A NO R T H W E S T B L V D . HEDG E W O O D DR. INDUS T R I A L P A R K C.R. 15 2 CALAD I U M DR. COURT BL V D . LOGA N R O A D L O G A N R O A D SERENADA D R I V E AIR P O R T R O A D CI M M A R R O N NO R T H C R O S S RICHLAND LANE RO A D RO A D S P R I N G OAK SPRING D R I V E POWER POW E R R O A D PARKER RANCH PARKWAY M E S Q U I T E JUD Y D R I V E BOB DRIVE ROA D O A K L A N E M E S Q U I T E KIM B E R L Y C O T T O N - P A R K E R O A K L A N E TIFFA N Y L A N E F . M . 2 3 3 8 B R O K E N H O L L O W LAK E W A Y W H I S P E R O A K S L A N E WES T E R N WAG O N P R I M R O S E T R A I L S P R I N G S L O N E S O M E T R A I L R O C K Y V E R N A H O R S E S H O E RAND O L P H R O A D SO U T H C R O S S QU A I L DRI V E ROAD C O U N T R Y HAGA N V A L L E Y R I D G E C R E S T R O A D H I G H V I E W R O A D R O A D D R I V E ROA D W O O D L A N D R O A D R I D G E C R E S T R I V E R R O A D JOH N T H O M A S D R I V E GA B R I E L A D D I E R O A D GAB R I E L V I E W D R I V E OA K C R E S T L A N E OA K R I D G E C I R C L E F M 2 3 3 8 ROAD O A K L A N E JAN I S LAN E CL A Y S T . P A R K L A N E W I L L I A M S D R I V E GOL D E N PARK LANE LANE W E S T W O O D THORNTON NORT H W O O D THO R N T O N SILV E R TAN G L E W O O D LA N E DRI V E DR I V E BLVD. CEN T R A L G A R D E N GOLDEN SHADY H O L L O W D R I V E N O OL D A I R P O R T R D . ROAD AI R P O R T GAR D E N GARD E N M E A D O W D R I V E GOLDEN VISTA DRIVE GARDEN VILLA F.M. 971 N O R T H W E S T W I L L I A M S F.M. 9 7 1 FR O N T A G E U.S . H W Y 8 1 DRIV E CIRCLE D R I V E LEA F RIVER DRIVE N O R T H F O R K S A N G A B R I E L R I V E R WHE E L TR A I L S P U R T R A I L T R A I L S P O K E T R A I L TRA I L CROSSING LANE DRIVE ROAD L A N E CROSSLA N D V I E W STREET ROAD POW E R CIRCLE L A N E D R I V E BEN D STR E E T CIRCLE DU N M A N GA B R I E L V I E W W H I T E LANE W O O D D R I V E CLUB COUR T LA N E LANE T E R R Y COVE VI L L A D R I V E DRIVE OAKS ROAD VIE W D R I V E OAKS BL V D . DRI V E SHA N N O N RIO VIST A RIO VISTA PARQ U E V I S T A L A N E BENCH M A R K S T . VISTA L A N E PAR Q U E PARQ U E PARQU E PAR K W A Y D R . GA N N S T R E E T P E C A N COVE COVE SAN GABRIEL PARK PAR K N O R T H W E S T B L V D . WIND M I L L COVE C.R. 15 1 JASMI N E EVERG R E E N CIRCLE COU R T SAN GABRIEL R I V E R RO A D SPUR R O A D S T A R V I E W POST DRI V E LAN E F A W N L A N E HAR M O N Y L A N E WHITES T O N E ST A R V I E W D R I V E W MORROW VALLEY RIVE R S I D E D R I V E CED A R D R I V E W SPRING N M A I N S T . N C H U R C H N M Y R T L E N C O L L E G E MOR R I S OAK LANE SKYLIN E S U N S E T DRIVE ST. ST. ST . ST . ST. S T A D I U M D R M.K . T . R A I L R O A D N E L M S T . ST. W O O D W A Y D R I V E ASHWOOD LANE GR A S S L A N D L A N E D R I V E STR E E T B U F F O L O B L U E B O N N E T T R A I L HED G E W O O D D R I V E CAN Y O N R O A D AR R O W H E A D JU N I P E R D R . AZ A L E A D R . JEFFE R S O N L N . IRIS D R . CA L A D I U M CR Y S T A L K N O L L WAY SISPO E R O F L O W E R S THE OF LA N E LI L Y C O V E BE L L FLOW E R S THEOF CO U R T TRAIL A L P I N E CIRCLE T R A I L DR STAR LANE CO V E A EN R B DEL W E B B B L V D . DR. V E LAN E LAR K S P U R RE DACA C I A W A Y T H I S T L E BLAZING CO L U M B I N E C O U R T DEWBERRY DRIVE DAND E L I O N D R P O P P Y VI N C A D R VINCA L I A T R I S L N EG R E T SA N D P I P E R WHITE WOODPECKER WAY POP P Y T R A I L TR A I L O F T H E F L O W E R S BLUE S T E M D R WH I P P O O R W I L L W A Y CH I C K A D E E SC I S S O R T A I L T R A I L WH I P P O O R W I L L CO V E WAY WINEC U P W A Y PA T H TR A I L DA I S Y PURPLE S A G E D R LANT A N A D R I V E SCI S S O R T A I L CO V E WARB L E R W A Y PAINT E D B U N T I N G SI L V E R - RO S E RO C K TRAIL ORANGE CIRCLE R A I N WAYGAILL A R D I A C T E A C U P CI R C L E CO U R T CO V E C O U R T P L U M A S DOWN LN.MYRT L E CREPE COVEBERR Y ELDE R - ST . EL D E R B E R R Y L N . MIS T F L O W E R DR . RU N I L I A DR . RU N I L I A CIR.RED O A K CIR. BLO S S O M PEA C H WA Y L A U R E L M O U N T A I N LA N E PER S I M M O N YAU P O N L A N E CIR . WA L N U T BL A C K DR I V E TEXAS TR A I L CHIS H O L M OLD ST. WAYIL TR A TLE CA T CI R . MU L B E R R Y CI R . TA I L SW A L L O W - CV . FA L C O N ST. CONFAL DR. LARIAT SI X F L A G S D R . D R . CO U N T R Y H I L L TR A I L M O O D Y DA N COVE SUCKLE HONEY- S T . S U N F L O W E R WA Y H A W K N I G H T CV. YUCCA D R . WI L D R O S E DRI V E SMITHACK BL D R . C O U N T Y H I G H C O V E B L A C K S M I T H C T . B L U E S K Y D R . H I G H T R A I L DR . SP R I N G S C O L D CIR. LILLY WATER- GOO D W A T E R D R I V E S P R I N G S C R Y S T A L WIND WHIS P E R I N G C . R . 2 1 6 C O U N C I L R O A D NASON I T R A I L EL A I N E AU S T I N AR A P A H O F R O N T I E R T R A I L T R A I L R I D G E R D . W O O D C R E S T R O A D O A K L A N D R O A D RIDG E W O O D R O A D E A S T DRIVE MEA D O W T I M B E R L I N E R O A D G R E Y S T O N E L A N E ROAD RID G E W O O D LA N E M O C K I N G B I R D T R A I L R E D B I R D ROAD VALLL E Y V I E W ROAD SUN S E T TEJAS T R A I L TRAILCOMAN C H E APACH E T R A I L W I C H I T A T R A I L N E C H E S T R A I L CHERO K E E T R A I L NAVAJ O T R A I L LAKE W O O D D R I V E S O U T H C H E R R Y W O O D L A N E LAKEW O O D D R I V E N O R T H J I B L A N E S H O A L D R I V E B O U Y D R I V E DRIVE HARBO U R REEF L A N E C . R . 2 6 2 DR. FI E L D D E E R DR . POIN T HUNTE R S R O A D SP R I N G S W A L N U T HES T E R H O L L O W COVE MELAN I E ROA D RE B E C C A LANE AUDR E Y LAN E LAU R E N LI Z L A N E BR A N C H OL I V E LANE LINDSEY FOU N T A I N W O O D L A N E C A S A L O M A D R I V E SEDRO T R A I L C T . T E R I D R I V E A C K E R PENNY L A N E OLD O A K S D R I V E RO A D BR E A K S CE D A R C R O S S I N G H O L L O W C E D A R Q U A I L D R . B L U E GLEN FAWN DR I V E BU E N O RANCHO RO A D HO L L O W C E D A R WAY C R O S S D R I V E L O S T R I V E R R O A D WINDRI D G E R O A D WINDRI D G E C O V E WESTL A K E P A R K W A Y LN LA M E S A D R I V E C A S S I D Y CT.BRUSH SAGE CEDAR R I D G E D R LANE LIMES T O N E R I O B R A V O R O A D CT. CASSIDY BEND C T OAK DRBRANC H CEDAR DR OA K S LE G E N D EA S T DR OA K S LE G E N D WE S T CT . WO O D D . B . W O O D R O A D WOODCREST COURT MANORWOOD COURT RIMROCK COVE BENT TREE DRIVE RIVER R I V E R V I E W RIDGEMONT COURT WI N D F L O W E R L A N E D R I V E MI R A M A R D R I V E VERDE V I S T A SEQU O I A S P U R W E S T LA P A L O M A L A S M A D R I D D R I V E ESPAR A D A D R I V E MA R I Q U I T A F . M . 2 3 3 8 GRE E N R I D G E R O A D RIDG E OAK GROVE LANE S H E P A R D FAIR V I E W R O A D BOOTY ' S CANDLELITE CIRCLE O A K P E C A N CLEAR SPANIS H CR E S T ROA D OAK SNAPPER T U R T L E TURTLE TO R T O I S E L A N E COVE BE N D COVE EVAN S SKYLINE SOUT H C R O S S RO A D D . B . W O O D R O A D CO U N T R Y R O A D RU S T L E C O V E CIR. RED WI N G W A Y P A S S P L O V E R CO V E WH I S P E R I N G WI N D D R I V E WE S T E R N B L V D . LN. NE I N N E R L O O P O W E N T R . PALO D U R O COMM E R C E B L V D P A R K CE N T R A L B L V D ROCKMOOR DRIVE M E L I S S A C O U R T STACEY LANE LA N E KA T H I DRI V E L A N E BRA N D Y V I L L A G E D R QUAIL DRI V E GRAP E V I N E SPRIN G S COVE WO O D B I N E CI R C L E HAR D W O O D GR O V E S S P R I N G W O O D LAN E HAWTHORNE COVE RIV E R OAKS CO V E CIRCLE V I S T A C O V E C I R C L E E S P A R A D A CH A M P I O N S DRIVEPO P P Y HILLS D R B E R R Y C O V E POP P Y H I L L S COV E S O U T H S O U T H PO P P Y H I L L S C V CHAMPION S D R I V E HAZELT I N E D R MEA D O W S E N D C . R . 2 6 5 N SE I N N E R L O O P I N D I A N C R E E K DRIVE E 8TH S T . HO L L Y S T . SOULE DR. SOUTHWES T E R N B L V D . W I L B A R G E R P L . A P P L E C R E E K D R . R O Y A L D R . RIVER HAVEN DR. W . L . WAS H A M D R . S E R V I C E D R . STEARMAN DR. TERM I N A L D R . H A N G E R R D . B E R R Y W O O D L A N E JIM D R . HO G G G A B R I E L F O R E S T VIL L A G E GL E N GRO V E CT. HA N O V E R CT . VIL L A G E CO M M O N S WEST B U R Y L N . GR E E N S I D E LA N E FA I R F I E L D CT . LEE GREEN BRIARCREST CT. CIR. BA N D E R A CV . RETAMA D R . TROTTER DR. PI M L I C O C V . H I G H - A L E A M E A D O W GR E E N S D R . VALLEY DR . RETAMA CT. COOP E R A T I V E W A Y C. R . 1 1 5 E X T . G O L F V I E W DR I V E BUR OAK L N MAL L A R D LN TANA G E R L A N E A R A N S A S C V W I L D T U R K E Y L N BL V D . T R A I L OLD M I L L RD CREEK DR. DR I V E ST A G E C O A C H PECOS CRT. M U R F I E L D D R . R I V E R C H A S E B L V D . OV E R L O O K CO U R T RIVER CHASE COURT RIV E R CH A S E B L V D . MASON RANCH DRIVE W A T E R S ED G E CI R C L E SAN GABRIEL VILLAGE BLVD . RA I L R O A D A V E . LA K E W A Y DRI V E MA P L E S T . BUTTER M I L K GAP E R U T T E R S V I L L E D R MCKENZIE DR. W E S E L Y A N D R 20TH S T . B R A Z O S D R I V E T E X A S T R A D I T I O N S S A B I N E LAVACA L N DRIVE WILD F L O W E R GRE E N HICK O R Y LN HIC K O R Y S A R A Z A N L O O P N O R T H SARAZEN LOOP SOUTH G E O R G I A N D R . CAN T E R B U R Y TRL R I D G E R U N D R W A L D E N D R . SCISSORTA I L T R A I L BRIAR PATCH COVE GR A P E V I N E L A N E HO L L Y B E R R Y LAN E AGAVE LAN E GOLD E N R O D SOT O L PAS S CHU C K W A G O N TRA I L D O U B L E FI R E T R . PR O S P E C T O R PA S S INDIAN S P R I N G S D R . FRI E N D L Y CR. CV. ROSE B U D L N LN SAD D L E TR .HARN E S S LN. LONG H O R N TR . BARNDANCE CV. RA N C H HO U S E CV . GR E A T FR O N T I E R DR. BRA N D I N G IRO N C V . CAM P DRI V E RO D E O D R . STO C K M A N TR O L I V E S T . W R U T T E R S V I L L E D R N A U S T I N A V E E M O R R O W S T . E SPRING ST. E UNIVERSITY AVE W 2ND ST. E 11TH ST. E 3RD ST. E 4TH ST. E 5TH ST. E 6TH ST. E 7TH ST. E 8TH ST. E 9TH ST. E 10TH ST. S C O L L E G E S T . DAVI D FERR E T T I DR LISCIO LOOP L A N C A S T E R D R LISCIO CV KIMRA CV HEW L E T T LOO P RO A D PAGE WHITNEY PARKWAY JO H N H A M I L T O N WA Y L O N D O N L N LOW E R P A R K R D LO W E R PAR K R D E M O R R O W S T . SE INNE R L O O P SE INN E R L O O P SMITH CRE E K R D SC E N I C BLUE HOLE PARK RD CANDL E R I D G E T R L ASHBE R R Y T R L ASHBE R R Y P L C S U M M E R C R E S T B L V D OSAGE C O U R T WISTER I A D R . D O G W O O D D R . B A R B E R R Y D R . HICKO R Y TREE D R . T E X A S DR I V E FALLS CIRCLE MOTLEY T R A I L CR O S B Y S T R E E T DA W S O N T R A I L LU B B O C K D R I V E WALLER COURT LYN N COV E NOLAN DR I V E SCU R R Y PA S S H A L E C O U R T S U N C I T Y B O U L E V A R D SUN CITY BLV D . E L K DR. C A R I B O U D R . COUGA R DR. WO L V E R I N E C V . BISON DR. LN. K I N G S W A Y RD. MIDNIG H T L N C.R. 1 6 6 HILLVU E R D . C.R. 1 1 1 C.R. 1 1 0 CARSO N C V C . R . 1 1 0 MATTH E W L N . M E L I S S A C I R . J E N N I F E R C I R . B R Y A N C I R . C.R. 1 0 5 C.R. 1 0 7 C.R . 1 0 4 C . R . 1 0 4 B E R R Y L A N E E A S T V I E W D R I V E DOVE V A L L E Y W I N D Y H I L L WHIG WAY L E A D S C A S T L E W A L K BRITTANIA BLVD. C.R. 1 7 6 DEER D R A W R D . BUCK S K I N CRT. ANT L E R D R . BUCK B E N D FAWN R I D G E DOE R U N W H I T E T A I L D R I V E B U C K L A N E A X I S D E E R C V . M U L E D E E R C V . FAUB I O N D R . FAUB I O N D R . P A T R I C A R D . P A T R I C A R D . DOE R U N C.R . 1 7 6 W O L F R D . STREE T OAK H A V E N C I R C L E LOS T OAK C O V E WRIGH T BROT H E R S DRIVE CO R S A I R D R . AVIAT I O N DR. F A I R W A Y D R . ARRO W H E A D R D . CHAMPIONS COURT WOODALL DR. D.B . W O O D R O A D D.B . W O O D R O A D R O A D B R E A K S C E D A R M E A D O W P A R K ME A D O W RIDG E INDIAN MEADOWME A N D E R I N G CR E E K S T I L L ME A D O W BR O O K M E A D O W BL U F F ME A D O W SC E N I C ME A D O W CO V E Y DO V E ME A D O W SP A R R O W CO V E G L E N ME A D O W STONE HENGE NE W B U R Y KEMPT O N A S C O T P R I V A T E D R I V E CHURC H I L L WAIZE L W A Y PER K I N S P L A C E J A N L N H O W R Y D R M C C O M B S A S H B U R Y UNI V E R C I T Y PAR K K U Y K E N D A L L M C C O O K WEIS S OLIN CV SE I N N E R L O O P M A P L E EAST R I D G E L N A V A L A N C H E P R E C I P I C E W A Y GREE N S L O P E O L D P E A K R D ZENIT H PINNA C L E BROA D PEAK H A W K E Y E LA CO N T E R R A GRAND E M E S A A N I M A S V A L L E S I T O M A N C O S C R E S T E D B U T T E N A T U R I T A GRAND JUNC T I O N WOLF R A N C H P K W Y RIV E R Y B L V D RIV E R B E N D T A N K S L Y C I R C L E WO O D L A K E M O R E L A N D S C H O O L SUN D A Y SCH O O L WO O D S T O C K CLI F F W O O D CED A R L A K E WIND HOL L O W LEA N N E W I L D W O O D WILD W O O D BOQ U I L L A TRL BIG T H I C K E T I N D I A N L O D G E HER I T A G E OAKS B E N D B I G B E N D F O R T D A V I S CA P R O C K C A N Y O N H I D D E N S P R I N G S ENC H A N T E D ROC K RIVER W A L K LOST M A P L E S FOSS I L RIM S O N O R A T R A C E PALO D U R O CANYO N B I G S P R I N G S SIERR A B L A N C O ROSED A L E ELM W O O D FAI R M O N T BE D F O R D PO P L A R B O X W O O D PLU M M A D R I D CON C O R D BL U E H A W PINION BIRC H B R I L E Y T A S C A T E NAMBO C A MORAL PASS R O W A N NA R A N J O MA D R O N E SHIN N E C O C K H I L L S PO P L A R RID G E BIG D R L O N G W E D G E PROS P E R I T Y H I L L S V E R R E N A T I G E R V A L L E Y FALCO N FLIGHTLOVIE LN J A Y D E E T E R DAWA N A L A V E R N E T E R S A N D H I L L S M I C K E L S O N KIERAN COVE PRAI R I E D U N E S CA S T L E PIN E S SINUS O GEORGETOWN, TEXAS 78626 CITY OF GEORGETOWN, TEXAS BY APPROVED BY DESIGNED BY DRAWN BY PROJECT NO. DATE REVISIONDATENO. Sean Iliff 14-118 Alvin R. Sutton III, P.E. PROPOSED STREET REHABILITATION - 5 YEAR C.I.P. WORK PLAN YEAR 3 BUDGET YEAR 2017 0 HORIZONTAL SCALE IN FEET 2000 4000 SHEET NO. YR-03 OF 5 SHEETS DESIGN SET C 2016Kasberg, Patrick & Associates, LP KPA Firm Registration Number F-510 FI L E : P: \ G e o r g e t o w n \ 2 0 1 4 \ 1 4 - 1 1 8 5 Y R C I P \ C A D \ E x h i b i t \ 2 0 1 6 - 0 3 - 0 2 2 0 1 6 2 0 1 7 u p d a t e s \ 1 4 - 1 1 8 o a m a p - Y R 0 3 - 2 0 1 7 . d w g LA Y O U T : YR 3 - B 2 0 1 7 Plot Date: ---- Plotted By: SILIFF Page 229 of 231 C.R . 1 5 2 C.R. 1 5 0 F.M. 9 7 2 WESTIN G H O U S E R O A D C . R . 1 0 2 C.R. 1 4 7 C.R. 1 4 3 SHEL L R O A D S T A T E H W Y 1 9 5 ST A T E H W Y 1 9 5 I.H . H W Y 3 5 STATE H W Y 2 9 OL D U . S . 8 1 H W Y C . R . 1 1 0 F . M . 1 4 6 0 F.M. 9 7 1 C.R. 2 4 7 WEB B C.R . 2 4 5 JENNI N G S B R A N C H HOG G ROA D JI M F.M. 3 4 0 5 A N D I C E R O A D ( F . M . 2 3 3 8 ) STATE H W Y 2 9 F.M. 2 2 4 3 DE L BL V D . I . H . H W Y 3 5 GEORGETOWN MUNICIPAL AIRPORT L A K E G E O R G E T O W N MID D L E F O R K S A N G A B R I E L R I V E R SOUTH FO R K S A N G A B R I E L R I V E R DR. GRANDE CIRC L E LN ST E P H E N CIRC L E MEADO W L A R K CVADKIN S CVROSE M A R Y T A N N E R COVE MAY BAS T I A N L N SPRIN G S C V PRAIRI E S P R I N G S L N P R A I R I E S P R I N G S L O O P P R A I R I E C L A R I S L N . BLVD . CRO S S I N G KATYPARK C V R I V E R LA N E L A N E PAT T I V A L L E Y V A L L E Y G A B R I E L DOW N R I D G E C I R C L E I N N W O O D LA N E TRAIL CACTU S ROAD THORNW O O D TR. FOX D R . C O U R T N E Y SIERR A W A Y T ES HW R T MEA D O W B L V D . D A W N A I R P O R T R O A D STE T S O N TRAIL D R . C A V E R N C O B B ST. WATE R RUNN I N G BASS S T . CIR . STE T S O N BER R Y T R . JUNIPE R WILD P L U M WA Y R I D E R T R A I L C I R C L E G L O R Y M O R N I N G WAYANEMONE DR. BELL BLUE CUP TR. TER BUT TR. BUS H BEAUT Y CIR. ANEMONE C I R . B U S H B E A U T Y WAYSTAR LONE D R . C O ONBR CIR . BR O N C O C I R . A S T E R WI L D H O R S E D R . E N C H A N T E D LOGAN R O A D S H E L L S P U R AIRP O R T R O A D DR I V E B R I A R C R E S T HAM L E T L E D G E M O N T YERRO T FO O T WI N G C I R C L E S P Y G L A S S TRAIL S A W G R A S S L N . H A C I E N D A DRIVE CR E E K BE R R Y DR I V E OAK M O N T CT. AUGUSTA BAY CT . CARME L ST. AN D R E W S D R I V E DRIV E T R E E OAK DRIVE DR. LA QU I N T A CT. JAS P E R CT. TURNBER R Y CT.MAGNOLI A CT.STILL W A T E R WATE R CLEA R - CT. DR. COLO N I A L CT HILL BAY D R . E D G E W O O D DRIVE HILLS OAKLA N D S BREN T W O O D LAS COLINAS R O A D ROAD BRANGUS ROAD MOUND INDIAN TRA I L TO N K A W A TRAIL DEER C O U R T K L E I N S H E R R I L L R O A D DRIVECLEAR V I E W L A N E C L O V E R D A L E CLEAR V I E W D R LANE DOVE ROCK L A N E T U R T L E D O V E FI E KN CIR . LON G D R KE E N L A N D NO R T H HI L L S CA R R I A G E DRIVE HILLS CARRIAGE D R TH U N D E R B A Y D R C H A S E ST E E P L E DRIVE DEL M A R GULFS T R E A M D R W A Y A N I T A S A N T A T R L A U T U M N L A N E DE R B Y BELMO N T PLPREAKNESS DRIVE FARMSCHURCHILL DR BLVD EDG E HESTON D R F L I N T R O C K L N T H U N D E R B I R D L N R A I N D A N C E TO M A H A W K T R IRONH O R S E T R EAGLE T R A C E WI L L I A M S D R I V E BL V D . PALEFACE DR I V E DRIVE REIN- RE I N H A R D T HARDT COURT STATE HWY 29 ST. HA R T S T . FO R E S T S T . RA I L R O A D W 13TH ST. E 11TH ST. 13TH ST. 14TH ST. S A U S T I N A V E . C H U R C H S T . MY R T L E S T . AS H S T . WA L N U T E 15TH ST. McCOY P L A C E EUNICE ST. KA T H E R I N E E 16TH S T . W 11TH ST. W UNIVERSITY AVE. EL M S T . VI N E S T . JA M E S S T . ST . SPRING HILLS HO L L O W RU C K E R S T . BR I D G E S T . MO N T G O M E R Y S T . WE S T S T R E E T MA R T I N L U T H E R K I N G J R . B L V D . DR I V E FO R E S T S T . S R O C K S T . E 2ND ST. W 3RD ST. S A U S T I N S M A I N S T . S C H U R C H S T . S M Y R T L E S T . S E L M S T . ST . W 4TH ST. W 5TH ST. W 6TH ST. W 7TH ST. W 8TH ST. W 9TH ST. W 10TH ST. E 10TH ST. E 8TH S T . E 7TH S T . S A S H S T . E 9TH ST. STATE H W Y 2 9 AV E . WA L N U T PI N E S T . HOLLO W RIVER OA K ROAD H I L L V I E W D R I V E DRIVE SHORT AV E . C.R. 265 DR I V E S O U T H B A R C U S D R . P E A C H - T R E E L A N E H A V E N L N . COURTBERGI N E 13TH ST. SUSANA CT. D R I V E LU T H E R D R I V E DEBORA SUS A N A WOODV I E W D R I V E R O C K C R E S T W O O D S T O N E D R I V E R O C K M O O R P I N O A K D R . B U R N I N G T R E E W O O D M O N T D R . OAK S B L V D . D R I V E F.M. 22 4 3 S H A D Y O A K D R I V E SPANISH OAK DR I V E DRIVE OAKLAND B R O O K S A N SUNSHINE MEADOW- SAN LINDA CT.MARIA CT. SUSA N A D R I V E R I D G E W O O D D R . FRIE N D S W O O D DR. F.M . 2 2 4 3 RIV E R W O O D D R . NORWOOD NO R W O O D W E S T RIVER NO R W O O D RIVER TREE GREE N W O O D D R . O A K W O O D D R . T A L L W O O D I N N W O O D D R I V E DE E P W O O D RIDGE RID G E W O O D D R . RIDGE- COVE IN N W O O D D R . S A N G A B R I E L OV E R L O O K 22ND ST. LEAND E R ROAD 24TH ST. KE N D E L L S T . 17TH ST. SC E N I C D R I V E BR I D G E 19TH ST. 18TH ST. HART ST. 18TH ST. W 16TH ST. W 15TH ST. 16TH ST.16TH ST. 17TH ST. 16TH S T . WA L N U T S T . 20TH ST. 19TH ST. 18TH ST. 17TH ST. CYRUS A V E . E U B A N K K N I G H T 19 1/2 S T . 19 1/2 S T . 20TH S T . H O G G S T . S O U T H P I N E S T . 17TH ST. 17 1/2 S T . PA I G E S T . IND U S T R I A L A V E . H I G H L A N D D R I V E C H U R C H S T . F . M . 1 4 6 0 LONG S A N J O S E S T . 22ND S T . 19TH S T . M A P L E S T . 17TH S T . E 18TH S T . E 19TH S T . H U T T O R O A D W I N C H E S T E R D R I V E R I F L E B E N D D R I V E T R A I L S E N D 15TH ST. L A U R E L S T . E 18TH S T . L O U I S E S T . E 17TH S T . V I R G I N A V I N E S T . GR E E N B R A N C H QUAI L V A L L E Y D R I V E Q U A I L H U N T E R S G L E N D R I V E TAMARA BRANC H DRIVE ST . S T . S T . 21ST ST. HA R T S T . CA N D E E S T . LE A N D E R S T . S T . OAK CIR. DR . DR. OAK WOOD O V E R L O O K E A S T GA B R I E L B V L D . D R . DR. LIVE D R . DRIVE D R . D R I V E COVE DRIV E COURT D R . B O W D R . THO U S A N D M E A D O W D R I V E D R I V E ROAD BROAD VISTA COURT R I D G E R U N FOXHO L L O W DRIVE OAKMONT COURT D R I V E R I V E R V I E W R I M R O C K DR I V E R I V E R D R I V E R I V E R V I E W SO U T H R I D G E C I R C L E RIDGE COURT BEND DRIVE RIVER RO A D C O V E COVE EDGE W O O D DR. HIDEAWAY LITTLE SOUTHC O U R T RABBI T H O L L O W L A N E R A B B I T R U N M O R N I N G D O V E L A N E PLEAS A N T B L U E B O N N E T S U N R I S E VALLE Y D R I V E THUN D E R V A L L E Y D R . GEOR G E T O W N V I E W L A N E S I L V E R C L O V E R V A L L E Y V A L L E Y L A N E L A N E L A N E VALLE Y HIGH T E C H D R . T E X S T A R D R . T O W E R D R . S M I T H B R A N C H C R E E K S I D E L A N E K A T Y L A N E SOUT H W A L K STREE T B L V D . RAINT R E E D R . C A R O L C O U R T JA N L A N E SOUTH F I N C H VI V I O N E 19TH S T . LANE C O L L E G E S T . A S H S T . H O L L Y C O F F E E S T . EL N O R A S T . SO U T H F O R K D R . TAMARA TANZA CT. CT. C . R . 1 1 6 K R I S T I N A D R I V E DEBOR A DRIV E D R I V E COTTO N T A I L L A N E M O R N I N G D O V E D R . W 14TH ST. SCE N I C D R I V E TI M B E R L A N E MA I N S T . P E C A N S T . M I M O S A S T . E 16TH S T . PI N E S T . MA P L E S T . OL I V E S T . LA U R E L S T . GE O R G E T O W N R . R . C.R. 11 1 SEGUNDO DRI V E VAL E N C I A CA D I Z BA R C E L O N A COURT LA N E DRIVE CO U R T CO U R T CO U R T B R A N G U S MADRID DRIVE M A L A G A D R I V E LAS PLUMAS GR A N A D A D R I V E C O R D O B A C I R C L E W E S T W E S T ALG E R I T A D R I V E F O U S T CAC T U S ROBLE SER E N A D A SOLONA CIRCLE DRIVE S E Q U O I A BELLO CIRCLEVE N A D A T R A I L RA M A D A T R A I L MESA D R I V E SEQU O I A T R A I L E A S T ESPAR A D A V E R D E V I S T A MA N Z A N I T A T R A I L V A L V E R D E D R I V E S E V I L L A D R I V E S E Q U O I A SIN U S O MESA DR I V E SEQUO I A T R A I L W E S T SEQU O I A S P U R W E S T TOLE D O A E R O DEL P R A D O L N . BOSQ U E T R A I L CIE L O D R I V E CA V U R O A D MARIPOSA T R A I L L U N A DRI V E TR A I L SIERRA COR D O B A CASA L U N A T R A I L ALHAMB R A TEJANO DEL RIO TADS SANALOMA DRIVE VORTAC LA N E CAVU PIL O T BARCELONA ROAD HALM A R C O V E RO A D T R A I L AZUL COURT ORO COURT DRIVE DRIVE T R A I L E A S T ROBLE CIRCLE CT D R I V E RO A D D R I V E G R A N A D A COURTCOURT COURT CIR . EA S T BL A N C A NO R T H W E S T B L V D . HEDG E W O O D DR. INDUS T R I A L P A R K C.R. 15 2 CALAD I U M DR. COURT BL V D . LOGA N R O A D L O G A N R O A D SERENADA D R I V E AIR P O R T R O A D CI M M A R R O N NO R T H C R O S S RICHLAND LANE RO A D RO A D S P R I N G OAK SPRING D R I V E POWER POW E R R O A D PARKER RANCH PARKWAY M E S Q U I T E JUD Y D R I V E BOB DRIVE ROA D O A K L A N E M E S Q U I T E KIM B E R L Y C O T T O N - P A R K E R O A K L A N E TIFFA N Y L A N E F . M . 2 3 3 8 B R O K E N H O L L O W LAK E W A Y W H I S P E R O A K S L A N E WES T E R N WAG O N P R I M R O S E T R A I L S P R I N G S L O N E S O M E T R A I L R O C K Y V E R N A H O R S E S H O E RAND O L P H R O A D SO U T H C R O S S QU A I L DRI V E ROAD C O U N T R Y HAGA N V A L L E Y R I D G E C R E S T R O A D H I G H V I E W R O A D R O A D D R I V E ROA D W O O D L A N D R O A D R I D G E C R E S T R I V E R R O A D JOH N T H O M A S D R I V E GA B R I E L A D D I E R O A D GAB R I E L V I E W D R I V E OA K C R E S T L A N E OA K R I D G E C I R C L E F M 2 3 3 8 ROAD O A K L A N E JAN I S LAN E CL A Y S T . P A R K L A N E W I L L I A M S D R I V E GOL D E N PARK LANE LANE W E S T W O O D THORNTON NORT H W O O D THO R N T O N SILV E R TAN G L E W O O D LA N E DRI V E DR I V E BLVD. CEN T R A L G A R D E N GOLDEN SHADY H O L L O W D R I V E N O OL D A I R P O R T R D . ROAD AI R P O R T GAR D E N GARD E N M E A D O W D R I V E GOLDEN VISTA DRIVE GARDEN VILLA F.M. 971 N O R T H W E S T W I L L I A M S F.M. 9 7 1 FR O N T A G E U.S . H W Y 8 1 DRIV E CIRCLE D R I V E LEA F RIVER DRIVE N O R T H F O R K S A N G A B R I E L R I V E R WHE E L TR A I L S P U R T R A I L T R A I L S P O K E T R A I L TRA I L CROSSING LANE DRIVE ROAD L A N E CROSSLA N D V I E W STREET ROAD POW E R CIRCLE L A N E D R I V E BEN D STR E E T CIRCLE DU N M A N GA B R I E L V I E W W H I T E LANE W O O D D R I V E CLUB COUR T LA N E LANE T E R R Y COVE VI L L A D R I V E DRIVE OAKS ROAD VIE W D R I V E OAKS BL V D . DRI V E SHA N N O N RIO VIST A RIO VISTA PARQ U E V I S T A L A N E BENCH M A R K S T . VISTA L A N E PAR Q U E PARQ U E PARQU E PAR K W A Y D R . GA N N S T R E E T P E C A N COVE COVE SAN GABRIEL PARK PAR K N O R T H W E S T B L V D . WIND M I L L COVE C.R. 15 1 JASMI N E EVERG R E E N CIRCLE COU R T SAN GABRIEL R I V E R RO A D SPUR R O A D S T A R V I E W POST DRI V E LAN E F A W N L A N E HAR M O N Y L A N E WHITES T O N E ST A R V I E W D R I V E W MORROW VALLEY RIVE R S I D E D R I V E CED A R D R I V E W SPRING N M A I N S T . N C H U R C H N M Y R T L E N C O L L E G E MOR R I S OAK LANE SKYLIN E S U N S E T DRIVE ST. ST. ST . ST . ST. S T A D I U M D R M.K . T . R A I L R O A D N E L M S T . ST. W O O D W A Y D R I V E ASHWOOD LANE GR A S S L A N D L A N E D R I V E STR E E T B U F F O L O B L U E B O N N E T T R A I L HED G E W O O D D R I V E CAN Y O N R O A D AR R O W H E A D JU N I P E R D R . AZ A L E A D R . JEFFE R S O N L N . IRIS D R . CA L A D I U M CR Y S T A L K N O L L WAY SISPO E R O F L O W E R S THE OF LA N E LI L Y C O V E BE L L FLOW E R S THEOF CO U R T TRAIL A L P I N E CIRCLE T R A I L DR STAR LANE CO V E A EN R B DEL W E B B B L V D . DR. V E LAN E LAR K S P U R RE DACA C I A W A Y T H I S T L E BLAZING CO L U M B I N E C O U R T DEWBERRY DRIVE DAND E L I O N D R P O P P Y VI N C A D R VINCA L I A T R I S L N EG R E T SA N D P I P E R WHITE WOODPECKER WAY POP P Y T R A I L TR A I L O F T H E F L O W E R S BLUE S T E M D R WH I P P O O R W I L L W A Y CH I C K A D E E SC I S S O R T A I L T R A I L WH I P P O O R W I L L CO V E WAY WINEC U P W A Y PA T H TR A I L DA I S Y PURPLE S A G E D R LANT A N A D R I V E SCI S S O R T A I L CO V E WARB L E R W A Y PAINT E D B U N T I N G SI L V E R - RO S E RO C K TRAIL ORANGE CIRCLE R A I N WAYGAILL A R D I A C T E A C U P CI R C L E CO U R T CO V E C O U R T P L U M A S DOWN LN.MYRT L E CREPE COVEBERR Y ELDE R - ST . EL D E R B E R R Y L N . MIS T F L O W E R DR . RU N I L I A DR . RU N I L I A CIR.RED O A K CIR. BLO S S O M PEA C H WA Y L A U R E L M O U N T A I N LA N E PER S I M M O N YAU P O N L A N E CIR . WA L N U T BL A C K DR I V E TEXAS TR A I L CHIS H O L M OLD ST. WAYIL TR A TLE CA T CI R . MU L B E R R Y CI R . TA I L SW A L L O W - CV . FA L C O N ST. CONFAL DR. LARIAT SI X F L A G S D R . D R . CO U N T R Y H I L L TR A I L M O O D Y DA N COVE SUCKLE HONEY- S T . S U N F L O W E R WA Y H A W K N I G H T CV. YUCCA D R . WI L D R O S E DRI V E SMITHACK BL D R . C O U N T Y H I G H C O V E B L A C K S M I T H C T . B L U E S K Y D R . H I G H T R A I L DR . SP R I N G S C O L D CIR. LILLY WATER- GOO D W A T E R D R I V E S P R I N G S C R Y S T A L WIND WHIS P E R I N G C . R . 2 1 6 C O U N C I L R O A D NASON I T R A I L EL A I N E AU S T I N AR A P A H O F R O N T I E R T R A I L T R A I L R I D G E R D . W O O D C R E S T R O A D O A K L A N D R O A D RIDG E W O O D R O A D E A S T DRIVE MEA D O W T I M B E R L I N E R O A D G R E Y S T O N E L A N E ROAD RID G E W O O D LA N E M O C K I N G B I R D T R A I L R E D B I R D ROAD VALLL E Y V I E W ROAD SUN S E T TEJAS T R A I L TRAILCOMAN C H E APACH E T R A I L W I C H I T A T R A I L N E C H E S T R A I L CHERO K E E T R A I L NAVAJ O T R A I L LAKE W O O D D R I V E S O U T H C H E R R Y W O O D L A N E LAKEW O O D D R I V E N O R T H J I B L A N E S H O A L D R I V E B O U Y D R I V E DRIVE HARBO U R REEF L A N E C . R . 2 6 2 DR. FI E L D D E E R DR . POIN T HUNTE R S R O A D SP R I N G S W A L N U T HES T E R H O L L O W COVE MELAN I E ROA D RE B E C C A LANE AUDR E Y LAN E LAU R E N LI Z L A N E BR A N C H OL I V E LANE LINDSEY FOU N T A I N W O O D L A N E C A S A L O M A D R I V E SEDRO T R A I L C T . T E R I D R I V E A C K E R PENNY L A N E OLD O A K S D R I V E RO A D BR E A K S CE D A R C R O S S I N G H O L L O W C E D A R Q U A I L D R . B L U E GLEN FAWN DR I V E BU E N O RANCHO RO A D HO L L O W C E D A R WAY C R O S S D R I V E L O S T R I V E R R O A D WINDRI D G E R O A D WINDRI D G E C O V E WESTL A K E P A R K W A Y LN LA M E S A D R I V E C A S S I D Y CT.BRUSH SAGE CEDAR R I D G E D R LANE LIMES T O N E R I O B R A V O R O A D CT. CASSIDY BEND C T OAK DRBRANC H CEDAR DR OA K S LE G E N D EA S T DR OA K S LE G E N D WE S T CT . WO O D D . B . W O O D R O A D WOODCREST COURT MANORWOOD COURT RIMROCK COVE BENT TREE DRIVE RIVER R I V E R V I E W RIDGEMONT COURT WI N D F L O W E R L A N E D R I V E MI R A M A R D R I V E VERDE V I S T A SEQU O I A S P U R W E S T LA P A L O M A L A S M A D R I D D R I V E ESPAR A D A D R I V E MA R I Q U I T A F . M . 2 3 3 8 GRE E N R I D G E R O A D RIDG E OAK GROVE LANE S H E P A R D FAIR V I E W R O A D BOOTY ' S CANDLELITE CIRCLE O A K P E C A N CLEAR SPANIS H CR E S T ROA D OAK SNAPPER T U R T L E TURTLE TO R T O I S E L A N E COVE BE N D COVE EVAN S SKYLINE SOUT H C R O S S RO A D D . B . W O O D R O A D CO U N T R Y R O A D RU S T L E C O V E CIR. RED WI N G W A Y P A S S P L O V E R CO V E WH I S P E R I N G WI N D D R I V E WE S T E R N B L V D . LN. NE I N N E R L O O P O W E N T R . PALO D U R O COMM E R C E B L V D P A R K CE N T R A L B L V D ROCKMOOR DRIVE M E L I S S A C O U R T STACEY LANE LA N E KA T H I DRI V E L A N E BRA N D Y V I L L A G E D R QUAIL DRI V E GRAP E V I N E SPRIN G S COVE WO O D B I N E CI R C L E HAR D W O O D GR O V E S S P R I N G W O O D LAN E HAWTHORNE COVE RIV E R OAKS CO V E CIRCLE V I S T A C O V E C I R C L E E S P A R A D A CH A M P I O N S DRIVEPO P P Y HILLS D R B E R R Y C O V E POP P Y H I L L S COV E S O U T H S O U T H PO P P Y H I L L S C V CHAMPION S D R I V E HAZELT I N E D R MEA D O W S E N D C . R . 2 6 5 N SE I N N E R L O O P I N D I A N C R E E K DRIVE E 8TH S T . HO L L Y S T . SOULE DR. SOUTHWES T E R N B L V D . W I L B A R G E R P L . A P P L E C R E E K D R . R O Y A L D R . RIVER HAVEN DR. W . L . WAS H A M D R . S E R V I C E D R . STEARMAN DR. TERM I N A L D R . H A N G E R R D . B E R R Y W O O D L A N E JIM D R . HO G G G A B R I E L F O R E S T VIL L A G E GL E N GRO V E CT. HA N O V E R CT . VIL L A G E CO M M O N S WEST B U R Y L N . GR E E N S I D E LA N E FA I R F I E L D CT . LEE GREEN BRIARCREST CT. CIR. BA N D E R A CV . RETAMA D R . TROTTER DR. PI M L I C O C V . H I G H - A L E A M E A D O W GR E E N S D R . VALLEY DR . RETAMA CT. COOP E R A T I V E W A Y C. R . 1 1 5 E X T . G O L F V I E W DR I V E BUR OAK L N MAL L A R D LN TANA G E R L A N E A R A N S A S C V W I L D T U R K E Y L N BL V D . T R A I L OLD M I L L RD CREEK DR. DR I V E ST A G E C O A C H PECOS CRT. M U R F I E L D D R . R I V E R C H A S E B L V D . OV E R L O O K CO U R T RIVER CHASE COURT RIV E R CH A S E B L V D . MASON RANCH DRIVE W A T E R S ED G E CI R C L E SAN GABRIEL VILLAGE BLVD . RA I L R O A D A V E . LA K E W A Y DRI V E MA P L E S T . BUTTER M I L K GAP E R U T T E R S V I L L E D R MCKENZIE DR. W E S E L Y A N D R 20TH S T . B R A Z O S D R I V E T E X A S T R A D I T I O N S S A B I N E LAVACA L N DRIVE WILD F L O W E R GRE E N HICK O R Y LN HIC K O R Y S A R A Z A N L O O P N O R T H SARAZEN LOOP SOUTH G E O R G I A N D R . CAN T E R B U R Y TRL R I D G E R U N D R W A L D E N D R . SCISSORTA I L T R A I L BRIAR PATCH COVE GR A P E V I N E L A N E HO L L Y B E R R Y LAN E AGAVE LAN E GOLD E N R O D SOT O L PAS S CHU C K W A G O N TRA I L D O U B L E FI R E T R . PR O S P E C T O R PA S S INDIAN S P R I N G S D R . FRI E N D L Y CR. CV. ROSE B U D L N LN SAD D L E TR .HARN E S S LN. LONG H O R N TR . BARNDANCE CV. RA N C H HO U S E CV . GR E A T FR O N T I E R DR. BRA N D I N G IRO N C V . CAM P DRI V E RO D E O D R . STO C K M A N TR O L I V E S T . W R U T T E R S V I L L E D R N A U S T I N A V E E M O R R O W S T . E SPRING ST. E UNIVERSITY AVE W 2ND ST. E 11TH ST. E 3RD ST. E 4TH ST. E 5TH ST. E 6TH ST. E 7TH ST. E 8TH ST. E 9TH ST. E 10TH ST. S C O L L E G E S T . DAVI D FERR E T T I DR LISCIO LOOP L A N C A S T E R D R LISCIO CV KIMRA CV HEW L E T T LOO P RO A D PAGE WHITNEY PARKWAY JO H N H A M I L T O N WA Y L O N D O N L N LOW E R P A R K R D LO W E R PAR K R D E M O R R O W S T . SE INNE R L O O P SE INN E R L O O P SMITH CRE E K R D SC E N I C BLUE HOLE PARK RD CANDL E R I D G E T R L ASHBE R R Y T R L ASHBE R R Y P L C S U M M E R C R E S T B L V D OSAGE C O U R T WISTER I A D R . D O G W O O D D R . B A R B E R R Y D R . HICKO R Y TREE D R . T E X A S DR I V E FALLS CIRCLE MOTLEY T R A I L CR O S B Y S T R E E T DA W S O N T R A I L LU B B O C K D R I V E WALLER COURT LYN N COV E NOLAN DR I V E SCU R R Y PA S S H A L E C O U R T S U N C I T Y B O U L E V A R D SUN CITY BLV D . E L K DR. C A R I B O U D R . COUGA R DR. WO L V E R I N E C V . BISON DR. LN. K I N G S W A Y RD. MIDNIG H T L N C.R. 1 6 6 HILLVU E R D . C.R. 1 1 1 C.R. 1 1 0 CARSO N C V C . R . 1 1 0 MATTH E W L N . M E L I S S A C I R . J E N N I F E R C I R . B R Y A N C I R . C.R. 1 0 5 C.R. 1 0 7 C.R . 1 0 4 C . R . 1 0 4 B E R R Y L A N E E A S T V I E W D R I V E DOVE V A L L E Y W I N D Y H I L L WHIG WAY L E A D S C A S T L E W A L K BRITTANIA BLVD. C.R. 1 7 6 DEER D R A W R D . BUCK S K I N CRT. ANT L E R D R . BUCK B E N D FAWN R I D G E DOE R U N W H I T E T A I L D R I V E B U C K L A N E A X I S D E E R C V . M U L E D E E R C V . FAUB I O N D R . FAUB I O N D R . P A T R I C A R D . P A T R I C A R D . DOE R U N C.R . 1 7 6 W O L F R D . STREE T OAK H A V E N C I R C L E LOS T OAK C O V E WRIGH T BROT H E R S DRIVE CO R S A I R D R . AVIAT I O N DR. F A I R W A Y D R . ARRO W H E A D R D . CHAMPIONS COURT WOODALL DR. D.B . W O O D R O A D D.B . W O O D R O A D R O A D B R E A K S C E D A R M E A D O W P A R K ME A D O W RIDG E INDIAN MEADOWME A N D E R I N G CR E E K S T I L L ME A D O W BR O O K M E A D O W BL U F F ME A D O W SC E N I C ME A D O W CO V E Y DO V E ME A D O W SP A R R O W CO V E G L E N ME A D O W STONE HENGE NE W B U R Y KEMPT O N A S C O T P R I V A T E D R I V E CHURC H I L L WAIZE L W A Y PER K I N S P L A C E J A N L N H O W R Y D R M C C O M B S A S H B U R Y UNI V E R C I T Y PAR K K U Y K E N D A L L M C C O O K WEIS S OLIN CV SE I N N E R L O O P M A P L E EAST R I D G E L N A V A L A N C H E P R E C I P I C E W A Y GREE N S L O P E O L D P E A K R D ZENIT H PINNA C L E BROA D PEAK H A W K E Y E LA CO N T E R R A GRAND E M E S A A N I M A S V A L L E S I T O M A N C O S C R E S T E D B U T T E N A T U R I T A GRAND JUNC T I O N WOLF R A N C H P K W Y RIV E R Y B L V D RIV E R B E N D T A N K S L Y C I R C L E WO O D L A K E M O R E L A N D S C H O O L SUN D A Y SCH O O L WO O D S T O C K CLI F F W O O D CED A R L A K E WIND HOL L O W LEA N N E W I L D W O O D WILD W O O D BOQ U I L L A TRL BIG T H I C K E T I N D I A N L O D G E HER I T A G E OAKS B E N D B I G B E N D F O R T D A V I S CA P R O C K C A N Y O N H I D D E N S P R I N G S ENC H A N T E D ROC K RIVER W A L K LOST M A P L E S FOSS I L RIM S O N O R A T R A C E PALO D U R O CANYO N B I G S P R I N G S SIERR A B L A N C O ROSED A L E ELM W O O D FAI R M O N T BE D F O R D PO P L A R B O X W O O D PLU M M A D R I D CON C O R D BL U E H A W PINION BIRC H B R I L E Y T A S C A T E NAMBO C A MORAL PASS R O W A N NA R A N J O MA D R O N E SHIN N E C O C K H I L L S PO P L A R RID G E BIG D R L O N G W E D G E PROS P E R I T Y H I L L S V E R R E N A T I G E R V A L L E Y FALCO N FLIGHTLOVIE LN J A Y D E E T E R DAWA N A L A V E R N E T E R S A N D H I L L S M I C K E L S O N KIERAN COVE PRAI R I E D U N E S CA S T L E PIN E S SINUS O GEORGETOWN, TEXAS 78626 CITY OF GEORGETOWN, TEXAS BY APPROVED BY DESIGNED BY DRAWN BY PROJECT NO. DATE REVISIONDATENO. Sean Iliff 14-118 Alvin R. Sutton III, P.E. PROPOSED STREET REHABILITATION - 5 YEAR C.I.P. WORK PLAN YEAR 3 REVISION 01 BUDGET YEAR 2017 0 HORIZONTAL SCALE IN FEET 2000 4000 SHEET NO. YR-03 OF 5 SHEETS DESIGN SET C 2016Kasberg, Patrick & Associates, LP KPA Firm Registration Number F-510 FI L E : P: \ G e o r g e t o w n \ 2 0 1 4 \ 1 4 - 1 1 8 5 Y R C I P \ C A D \ E x h i b i t \ 2 0 1 6 - 0 2 - 2 2 W P 0 3 Y R 2 0 1 7 \ 1 4 - 1 1 8 o a m a p - Y R 0 3 - 2 0 1 7 - l t b a c k g r o u n d . d w g LA Y O U T : YR 3 - B 2 0 1 7 Plot Date: ---- Plotted By: SILIFF Page 230 of 231 City of Georgetown, Texas City Council Workshop Marc h 8, 2016 SUBJECT: Sec. 551.071: Consul tati on w i th Attorney - Advice from attorney about pending o r co ntemplated litigation and other matters o n which the attorney has a duty to advise the City Council, including agenda items Sec. 551.072: De l i berati o n Regardi ng Real P ro perty - Deliberation concerning the acquisition of real pro perty fro m San Gabriel Storage Systems Venture in connectio n with the Rivery Blvd. Extensio n P roject Sec. 551.074: Personnel Matters - City Manager, City Attorney, City Sec re tary and Municipal Judge: Consideratio n of the appointment, employme nt, evaluation, reassignment, duties, discipline, or dismissal Sec. 551.087: De l i berati o n Regardi ng Economi c Devel opment Negoti ati ons - P roject Mesa - P roject Voyager ITEM SUMMARY: FINANCIAL IMPACT: TBD SUBMITTED BY: Page 231 of 231