Acceptance of the City’s Quarterly Financial Report, which includes the Investment Reports for the City of Georgetown, Georgetown Transportation Enhancement Corporation (GTEC), and the Georgetown Economic Development Corporation (GEDCO) for the quarter ended June 30, 2021 -- Nathan Parras, Assistant Finance Director

The Quarterly Financial Report to Council is attached.  An executive summary is included to highlight variances with regards to the revenues, expenses, and an overview of the investment portfolio as of June 30, 2021. For all major funds, the Financial Report shows a comparison of current year to date revenues and expenses compared to the budget and year-end projections, as well as compared to the same quarter in the prior year. 

In general, all of the City’s major funds are tracking well compared to the FY2021 budget. 

The report also includes updates on capital projects, a summary of active grants and the list of Unfunded Liabilities. 

COMMENTS:

The investment activity and strategies described in the investment report are in compliance with the City’s Investment Policy and state law.   This report meets the quarterly reporting requirements mandated by the Public Funds Investment Act.