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Georgetown budget report: revenues generally tracking, water impact fees top budgeted expectations
Summary
City budget staff presented the third-quarter fiscal update showing most major funds running near projections; water impact fees exceeded expectations while development permit revenues fell and some grant revenue remains unreceived.
Myra Cantu, the city’s budget manager, presented the City of Georgetown’s third-quarter fiscal-year report, saying the city’s three largest funds — the general fund, electric fund and water fund — were generally tracking near projections but with important variances.
Cantu told the council the FY25 general fund revenue budget totaled $110.9 million and that year-to-date actuals were about 73% of budget and 71% of projections. “Sales tax is trending at 7.51% over the previous year,” she said. She added staff revised the sales-tax projection to be about 5% over budget to reflect recent collections and a two-month reporting lag.
The nut graf: The update showed mixed results by revenue source. Impact fees and irrigation charges in the water fund came in substantially above budget, while development permit…
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