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Georgetown Finance Department

Financial Reports

2020-21 Fiscal Year

The Georgetown City Council adopted the Fiscal Year 2021 budget on Sept. 22, 2020, and an amended budget Jan. 26, 2021. The original budget of $396 million is a $41 million, or 10%, decrease over the original FY2020 budget. The change is due to the timing of large capital projects. The amended FY2021 budget totals $537 million, and includes rolling forward dollars for multi-year large capital infrastructure projects. The budget decreases the City’s property tax rate by $0.002, making it the lowest of all cities in the Austin area with a population greater than 20,000. The average homestead property in Georgetown decreased in taxable value by 2.3 percent, down from $284,765 in FY2020 to $278,001 in FY2021. Coupled with the decrease in the property tax rate, it is anticipated the average homeowner in Georgetown will pay $34 less in property tax in the upcoming year. The adopted budget is linked below.

The overall focus of the FY2021 budget was to preserve and maintain City services, in response both to continued growth and uncertainty from the COVID-19 pandemic. It addressed public and Council priorities through utility and transportation infrastructure development, public safety improvements, long-range planning initiatives, economic development achievements, and sustaining City service levels. The budget took a conservative outlook for the next fiscal year, with the overall budget coming in 10 percent lower than the adopted FY2020 budget. The General Fund, which pays for several, critical services like public safety, streets, library services, and parks and recreation, increased about 3.7 percent – lower than the city’s population growth of 7.2 percent.

The amended FY21 budget increased the General Fund by revenue by $3.6 million and expenses by $1.72 million. The combination of conservative budgeting and strong performances both in Fiscal Year 2020 and the first quarter of the current fiscal year allowed the City to adjust the budget to reflect Council and community priorities. The amendments included eight new positions to help address increased workload because of growth, additional funding for new trash-related services, and fully funding market pay increases for public safety employees.

Other highlights in the amended budget include the following:

  • 5 new positions, including staff for Fire Station No. 7 and two police officers
  • 14 frozen positions, for at least part of the year
  • $1 million in cuts to department budgets, including less funding for training, travel, and supplies
  • Competitive employee compensation and benefits, including market and merit raises for non-civil service employees, and market increases and annual step for public safety employees
  • $77.4 million in capital improvement projects, including investments in transportation, water and wastewater, electric, and the public safety complex.
  • Council discretionary funds for one-time uses, including small area plan development for the Track Ridge Grasshopper and San Jose neighborhoods
  • Initiating design for improvements to D.B. Wood Road, the last, large project from the 2015 bond.
  • Increased sanitation rates to help pay for increased costs with Texas Disposal Systems, reconstruction of the transfer station, and improvements to the household hazardous waste program

FY2021 Adopted Budget

2019-20 Fiscal Year
2018-19 Fiscal Year

Archived Annual Budget Reports

Annual Budget – Approved budgets for the last five years and the proposed budget for the upcoming year.

Archived Annual Financial Reports

Annual Financial Report – Comprehensive Annual Financial Report for the last five years. This report is the annual audited financial statements. Please click to view the City’s “Certificate of Achievement for Excellence in Financial Reporting” presented to the City of Georgetown by the Government Finance Officers Association.

 

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