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Georgetown Finance Department

Introduction

Finance Administration plans and directs the City’s financial activities.  The Department oversees accounting, purchasing, tax collection, billing, financial reporting, debt, and investment management.  Finance directs the City’s budgeting process, monitors the long-term financial plan, and prepares related policy recommendations.  Additionally, the Department plans City debt issuance, and monitors the City’s utility rates to ensure financial stability of these systems.  Finance is also liaison to several boards including the General Government and Finance (GGAF) Advisory Board, the Georgetown Economic Development Corporation (GEDCO), and the Georgetown Transportation Enhancement Corporation (GTEC).

Adopted Fiscal Year 2022 Annual Budget

The City of Georgetown budget affects every resident in our City. How we allocate your taxpayer dollars and monthly costs as utility customers determine the level of service you get in return for City functions, like providing electricity, drinking water, resources to respond to emergencies, well-maintained streets, a world-class library, and accessible trails.

The Georgetown City Council adopted the Fiscal Year 2022 budget on Sept. 28. FY2022 proposed budget documents are in the next section. The adopted budget didn’t change substantially from the proposed budget. We will update the documents as soon as we are able.

The adopted budget totals $483 million and decreases the City’s property tax rate by 1.7 cents (from 41.8 cents per $100 valuation to 40.1 cents). This is the second year in a row the City has reduced the property tax rate, maintaining the City’s rate as among the lowest of all cities in the Austin area with a population greater than 20,000. Council also increased the homestead exemption to the greater of $5,000 or 3 percent, contributing to $370,000 in additional taxpayer relief. However, because property values in Georgetown increased 15.4 percent, the average homeowner in Georgetown is expected to pay $56 more in property taxes in the upcoming year.

Major themes of the adopted budget are investing in transportation and utility infrastructure, public safety, and customer services, as well as providing the staffing, equipment, and software needed to record-setting growth and development. Adequately funding those priorities – particularly transportation and water capital improvement projects ($90 million), public safety investments, and staffing and resources needed to maintain service levels during Georgetown’s sustained period of high growth – contributed to the budget being $87 million (or 18 percent) more than the Fiscal Year 2021 budget of $396 million.

Highlights of the adopted budget include:

  • Providing taxpayer relief, despite significant increases to service demand and debt, including Winter Storm Uri and the 2021 mobility bond projects.
  • 53 positions, the majority of which are in the fire, water, and electric departments
  • One-time start-up costs for a multi-year plan to fund a Police K9 unit.
  • One of the largest investments in utility infrastructure in the City’s history. This investment includes $49.8 million in water projects ranging from a new pump station to the first phase of construction for the new South Lake Water Treatment Plant.
  • Long-range water supply planning, staffing, and resiliency programs to ensure water demands are met in the City’s water service area to meet current and future growth.
  • Significant investment in transportation, including additional staffing, an Overall Transportation Plan Amendment, a Williams Drive Access Management Plan, a Pavement Condition Index, and additional resources to ensure 2021 mobility bond projects are started within the next five years.
  • A strong projected electric fund balance of $36.7 million and investments in staffing, technology, and infrastructure to maintain system reliability.
  • Investment in customer service staffing and programming, including establishing a program to improve intake and response to all customer complaints; improving water and electric outage notifications; and redesigning and organizing the City’s website.

 

FY2022 Budget Documents

The adopted budget didn’t change substantially from the proposed budget. Updated documents will be uploaded as soon as we are able.

FY2022 Budget Presentation
FY2022 Proposed Budget Intro and Table of Contents
FY2022 Proposed Budget General Fund
FY2022 Proposed Budget Electric Fund
FY2022 Proposed Budget Water Fund
FY2022 Proposed Budget Other Enterprise Fund
FY2022 Proposed Budget Special Revenue Fund
FY2022 Proposed Budget Internal Service Fund
FY2022 Proposed Budget Capital Improvement and Debt Projects
FY2022 Proposed Budget Draft Budget Reference
FY2022 Proposed Budget Fiscal Policy and Position Control

Timeline

July 26: Council budget workshop: Video | Budget presentations
July 27: Council budget workshop: Video
Aug. 10: First presentation of the full budget; City Council sets maximum tax rate and public hearing dates: Video | Budget presentations
Sept. 5: Comments on draft budget closed
Sept. 14: Public hearings and first reading of both the tax rate and the budget: Video | Budget presentations: Items AI-AM
Sept. 28: Second reading and final adoption of the tax rate and budget: Video | Budget presentations

Thank you for your feedback

Because we ask you, our residents, to trust us with your hard-earned income, we must make sure we’re spending your money the way you want it to be spent.  Toward that end, we asked for your input on the preliminary budgets, so the budget we present to Council in September could be informed by your feedback.

Comments submitted via this webpage closed Sept. 5. We received 13 comments, which were shared with City leadership and Council. Public comment can still be provided to Council via the public hearings Sept. 14 and 28.

For information about previous years’ budgets, click here.

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