| | | | | | | | City of Georgetown, Texas
City Council Regular Meeting
September 14, 2021 |
| | | | | | | | SUBJECT:
Forwarded from Georgetown Transportation Enhancement Corporation (GTEC):
Consideration and possible action regarding the Administrative Services Contract between the City of Georgetown and the Georgetown Transportation Enhancement Corporation (GTEC) for the 2022 fiscal year -- Nathan Parras, Assistant 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 $247,416 and have a monthly cost of $20,618.00.
COMMENTS
This contract was approved by the GTEC board at its July 21, 2021 meeting.
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| | | | | | | | FINANCIAL IMPACT:
Revenues from this contract are included in the 2022 Annual Operating Budget of the City to offset expenses incurred for the administration of the corporation. |
| | | | | | | | SUBMITTED BY:
Sharon Parker |
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