| | | | | | | | City of Georgetown, Texas
City Council Regular Meeting
August 23, 2022 |
| | | | | | | | SUBJECT:
Forwarded from the Georgetown Transportation Enhancement Corporation (GTEC):
Consideration and possible action to approve the Administrative Services Contract between the City of Georgetown and the Georgetown Transportation Enhancement Corporation (GEDCO) for the 2023 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 $438,734 and have a monthly cost of $36,561.00.
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| | | | | | | | FINANCIAL IMPACT:
Revenues from this contract are included in the 2023 Annual Operating Budget of the City to offset expenses incurred for the administration of the corporation. |
| | | | | | | | SUBMITTED BY:
Sharon Parker |
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