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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).

Preliminary 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.

City staff used the results of recent public feedback opportunities, including the 2020 resident survey, to develop a preliminary version of the FY2022 budget, which was presented to City Council July 26. The workshop gave Council a chance to weigh options and provide direction, so staff can come back in August with a proposed budget that reflects their feedback as well.

Major themes of the preliminary 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.

Highlights of the preliminary budget include:

  • Providing taxpayer relief, despite significant increases to service demand and debt, including Winter Storm Uri and the 2021 mobility bond projects.
  • 51 new positions, including full-time employees 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.
  • Significant investment in transportation services, 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.
  • 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

FY2022 Budget Presentation
FY2022 Budget Presentation Electric Fund
FY 2022 Draft Budget Table of Contents
FY2022 Draft Budget General Fund
FY2022 Draft Budget Electric Fund
FY2022 Draft Budget Water Fund
FY2022 Draft Budget Other Enterprise Fund
FY2022 Draft Budget Special Revenue Fund
FY2022 Draft Budget Internal Service Fund
FY2022 Draft Budget Capital Improvement and Debt Projects
FY2022 Draft Budget Draft Budget Reference

Timeline

July 26: Council budget workshop: Video | Budget presentations
Aug. 10: First presentation of the full budget; City Council sets maximum tax rate and public hearing dates
Sept. 5: Comments on draft budget close (see below)
Sept. 14: Public hearings and first reading of both the tax rate and the budget
Sept. 28: Second reading and final adoption of the tax rate and budget

Share 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 want to hear your input on the draft budget, so the budget we present to Council in September can be informed by your feedback.

Please use the box below to submit your comments about the preliminary budget. It will go to the communications and finance teams, who will review and share the feedback with the City Manager’s Office and City Council. All comments must be received by 5 p.m. Sunday, Sept. 5, to be included in the report to Council before its Sept. 14 meeting.

You’ll have other opportunities to provide comments to City Council during public hearings and Council meetings, outlined in the timeline above.

For information about previous years’ budgets, click here.

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