| | | | | | | | City of Georgetown, Texas
City Council Regular Meeting
September 10, 2019 |
| | | | | | | | SUBJECT:
Consideration and possible action to approve the Administrative Services Contract between the City of Georgetown and the Georgetown Transportation Enhancement Corporation (GTEC) for the 2020 fiscal year -- Leigh Wallace, Finance Director |
| | | | | | | | ITEM SUMMARY:
The Bylaws of the Georgetown Transportation Enhancement Corporation require GTEC to contract with the City for the administrative services provided by the general manager, transportation planning, and other City staff. GTEC shall provide reasonable compensation to the City for these services which include:
• Transportation project management
• Accounting & financial reporting
• General Manager duties and responsibilities
• Legal services
• Special analysis
The total annual contract costs are $419,843, and have a monthly cost of $34,986.92.
This contract was approved by the GTEC board at its June 19, 2019 meeting. |
| | | | | | | | FINANCIAL IMPACT:
Revenues from this contract are included in the 2020 Annual Operating Budget of the City to offset expenses incurred for the administration of the corporation. |
| | | | | | | | SUBMITTED BY:
Leigh Wallace, Finance Director |
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