[{"_1":2,"_122":-5,"_123":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87,99,111],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6504952,"mediaKeyId","5503272-d772eda37b442bde586e07d432812773","parentId",5503272,"title","Finance working group outlines fall bond and loan plan, including TWDB SWIFT loans and United special-facility bonds","audioSeconds",1116,"startMs",1860000,"endMs",2976000,"viewUrl","/Search/View?dp=1&key=5503272-d772eda37b442bde586e07d432812773&start=1860&end=2976","thumbnailUrl","https://assets.pipeline.soar.com/5503272-d772eda37b442bde586e07d432812773/thumbnail_1860000.jpg","articleUrl","/articles/6504952/Houston/Harris-County/Texas/Finance-working-group-outlines-fall-bond-and-loan-plan-including-TWDB-SWIFT-loans-and-United-special-facility-bonds","mediaUrl","https://secure.pipeline.soar.com/6504952-dfacee487bc8ef566752983a0d282c0d/orig.mp4?Expires=1770401966&Signature=H2fCFoE0~1k3DNXbZPnBt5b-cnLSAoJhA1AhqOjVlYHGX6y1aorui8xthR0aSyhprvmCyiv1XCPL3p0xn78hmi8fktPKqWXVPcYLrm8zBkCuX3E5tWXkPHhI6LQ9cqASx1vVCOF20QutBBKndKVSoUjADxVSXauQbjeJvahibRxsBKh496oAvE~DVAiOTVg-mwcEAJYdC1lKB1hlhfpOXNFMRoE~kRCRa2xJoOke7HYm03I-mz1WvC5jxGHJKZ2gxvD3TFvlzsAsXpLn3ogLqfulNedeQbM6IAKqzA~F-uJpIEFt0-LQz5-zmHNYYfOq4vVOOa7wLJp-YJ~EAjlBHQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Houston","date","2025-07-29T00:00:00Z","article","City finance staff briefed the Budget and Fiscal Affairs Committee on July 29 about multiple upcoming financings they plan to present to council this fall.

General obligation bonds: staff said the city typically converts commercial paper into long-term public improvement bonds and expects a public improvement bond issuance in the $150 million to $200 million range to fund CIP projects for general-fund departments. The office said pricing is likely in September with a probable closing in October and estimated an all-in true interest cost near 4.75 percent on a 20-year amortization schedule.

TRAN (Tax and Revenue Anticipation Notes): staff said the annual TRAN sale bridges cash-flow seasonality between even-year taxing receipts and year-round expenditures. The finance working group expects to bring an RCA to council in August to authorize a competitive sale, with pricing to occur in October.

Combined Utility System and TWDB loans: the city applied to the Texas Water Development Board (TWDB) for multi-year loans supporting the East Water Purification Plant (SWIFT program) and related Coastal Water Authority pipeline work. Staff said an initial $350 million issuance (of a total $966 million application) may be recommended for council action in August, with an estimated true interest cost around 4.75 percent. The Coastal Water Authority application was approved previously; the second annual installment for the B-2 pipeline is $50 million and expected to close this fall. The finance team also described two Clean Water TWDB loans of $44 million each anticipated for lift-station renewal and rehabilitation, with actions expected across 2026.

Airport and United special facilities: staff described refunding candidates for special-facility revenue bonds tied to United Airlines and a plan to finance new United ground-support facilities (a catering operations facility and a ground-support-equipment facility) with special-facility revenue bonds supported by United lease payments, not by general airport revenues. Staff estimated refunding roughly $425 million of outstanding special-facility debt could yield about $14.7 million in savings (approximately a 3.4 percent present-value savings) and indicated a separate special-facility issuance of roughly $400 million to finance the United facilities. The finance team said it aims to coordinate refunding and the special-facility issuance in a fall market transaction.

Next steps: multiple items will return to council for authorization and pricing in the coming weeks; staff emphasized that TWDB loans, refundings and special-facility financings require subsequent council approvals and, where applicable, state agency concurrence.

No formal council action occurred in the committee; staff described timelines and estimated borrowing costs for council consideration.","mediaType","Video","parentTitle","Houston - Budget and Fiscal Affairs","oneSentenceSummary","City finance staff briefed the Budget and Fiscal Affairs Committee on July 29 about planned fall financings, including $150'00 million in general-obligation public improvement bonds, the annual TRAN sale, TWDB multi-year loans for water projects and airport special-facility financings tied to United Airlines.","taxTitle","Houston, Harris County, Texas","taxId",2797,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6504956,"Ernst & Young engagement to standardize city contracts and KPIs aims for $17 million in FY26 savings",448,1248000,1696000,"/Search/View?dp=1&key=5503272-d772eda37b442bde586e07d432812773&start=1248&end=1696","https://assets.pipeline.soar.com/5503272-d772eda37b442bde586e07d432812773/thumbnail_1248000.jpg","/articles/6504956/Houston/Harris-County/Texas/Ernst-Young-engagement-to-standardize-city-contracts-and-KPIs-aims-for-17-million-in-FY26-savings","https://secure.pipeline.soar.com/6504956-cb2cdd12e97a111de3a1c6af301d10c5/orig.mp4?Expires=1770401966&Signature=VGpafQ4PCZYFqvNicE9-wbDKn10jAu-Y9C1Lj1Gmxo1GkkUkDM-gJ3g1O1zsdK0GMl6ZzFY7Yqm-nrGAM42EAv~~808p8zHjtVfNRlxTHd-b97MigqgpTdantRZYHlRMl0DOUdCIHfi4nKJdYBu0QUkXQz7m2QvrPxlM8NdhRbuKi~YKNR8MP9oRhhOwh6CC~v~KOX45hzERHPJtx3s6nYXiukQiXLuZtzkN4UBtBbYAt57kASDyYk-GS5VxiLC62TAeDAiiSEcfjwmNYmTe-XTbnodGvXvLBsfJcdovOr~azaghv8zCProLKfADr2qzS0mQv73efnRc9Na2oJskfw__&Key-Pair-Id=KUT5TJCACFTXG","City finance staff updated the Budget and Fiscal Affairs Committee on July 29 about the ongoing Ernst & Young (E&Y) engagement to implement category management and strengthen performance measures.

Melissa from the finance department said E&Y is working with the Strategic Procurement Division (SPD) to consolidate similar contracts, map NIGP procurement codes into eight categories and identify duplication and renegotiation opportunities. The eight categories listed by staff are professional engineering services; construction services; fleet management and equipment; information technology; professional services; public works (including industrial products and services); facilities and management operations; and public safety and human services.

The finance office said E&Y has read-only access to SAP to extract contract and spend data and is starting the work in the facilities and management operations category, which staff identified as having early savings opportunities. The city expects to adopt a standardized quarterly template to report cost-saving estimates, priorities and realized savings. Finance staff said the initiative is led by SPD and Jed's team and will return quarterly progress reports to the committee.

On the performance measures work stream, E&Y has hosted 11 KPI workshops with departments and will run \"turn the curve\" sessions in mid-August to drill into underperforming indicators and recommend process improvements. Staff said any changes to contract terms or material scope will be brought back to council for approval.

Why it matters: the city budget includes a goal that the category-management effort deliver at least $17 million in general-fund savings in FY26. Committee members pressed for flexibility on contract terms when council-district service funds are used for temporary staff and asked for examples of KPI targets and proposed changes in future updates.

Staff said the work is ongoing and that the committee will receive quarterly demonstrations of the open finance portal and the spending-analysis dashboard.","City staff said the Ernst & Young engagement will support a category management program across eight spending categories and work with departments to refine KPIs; finance staff expects the effort to target at least $17 million in general-fund savings in FY26.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6504959,"City reports $5.7B investment pool, negative swap fair value and premarketed airport bonds",366,707000,1073000,"/Search/View?dp=1&key=5503272-d772eda37b442bde586e07d432812773&start=707&end=1073","https://assets.pipeline.soar.com/5503272-d772eda37b442bde586e07d432812773/thumbnail_707000.jpg","/articles/6504959/Houston/Harris-County/Texas/City-reports-57B-investment-pool-negative-swap-fair-value-and-premarketed-airport-bonds","https://secure.pipeline.soar.com/6504959-2244329fbbe50d9a981d4d001361fcc9/orig.mp4?Expires=1770401966&Signature=LsR7gQ33my6AwKYEPlN~38YDeXvp5d2-ixNgOfwlWyuYPMr4oZb609cv0~beILFnkulgSzXDXocl-jr9DiCm29BNcjIuXGiq07huLR4X3LROY6Gs6tnlYykc26ty2UqIwyBrzvGdAtwuDLAS2UmdS-Tmz-hD5ZGc35LabDwJfNSAd317RVQkszAUS-mEsFC2B8pP0fm9WLv8M7mkMJtMXq0kiJT6wiavVLEJnWsnaQCeUT2pAHKhLsvf2iyCbRU7zIvwEWBUc7VORbvOrR3fEVYhTBODE4RysYBkLeLUfUyhTfnbc2chpQmf46KU~0jyJR~4Ko9juFQg7o7wgmIqUQ__&Key-Pair-Id=KUT5TJCACFTXG","City finance officials told the Budget and Fiscal Affairs Committee on July 29 that the general investment pool held approximately $5.7 billion as of June 30 and produced a quarter-over-quarter yield increase to about 4.081 percent. Deputy Controller Will Jones said Fitch reviewed the pool and assigned it a AAA rating.

The controller's office reported swap activity results for fiscal year 2025: the city had a net paid amount of $6 million related to its swaps for the year, and the fair value of swaps was negative approximately $75 million as of June 30, 2025. Finance staff explained the negative fair value is measured at market and can move with interest-rate changes; they reiterated the numbers will be finalized in the FY25 comprehensive annual financial report.

Staff also briefed the committee on a recent airport bond transaction. The city premarketed and priced approximately $724 million of Airport System Subordinate Lien Revenue Bonds, Series 2025 AB, using call features to preserve future redemption flexibility. Finance staff said the all-in true interest cost for the airport transaction priced last week was about 5.16 percent after investor demand lowered expected borrowing costs.

Why it matters: investment returns and swap positions affect the city's near-term liquidity and debt-service budgeting. The airport bond sale will fund planned airport work and influences long-term debt-service projections.

Finance staff noted the city maintains a policy of keeping no more than 20 percent of a given debt issue in variable-rate structures, consistent with rating-agency guidance. Officials said enterprise credits can temporarily exceed that internal threshold during large capital projects. Detailed security listings and the quarterly investment report appear in the MOFAR (monthly operating financial report) packet submitted to the committee.","Finance staff reported a $5.7 billion general investment pool yielding about 4.081%, a net paid of $6 million on swap activity for FY25 and a negative fair value on swaps of roughly $75 million; staff also described a recent premarket bond sale for airport subordinate revenue bonds.",{"_33":100,"_35":36,"_37":38,"_39":101,"_41":102,"_43":103,"_45":104,"_47":105,"_49":106,"_51":107,"_53":108,"_55":56,"_57":58,"_59":109,"_61":62,"_63":64,"_65":110,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6504964,"Controller projects $413.4 million year‑end general fund balance; revenues revised upward",1135,69000,1204000,"/Search/View?dp=1&key=5503272-d772eda37b442bde586e07d432812773&start=69&end=1204","https://assets.pipeline.soar.com/5503272-d772eda37b442bde586e07d432812773/thumbnail_69000.jpg","/articles/6504964/Houston/Harris-County/Texas/Controller-projects-4134-million-yearend-general-fund-balance-revenues-revised-upward","https://secure.pipeline.soar.com/6504964-17e081088d851b3aaae304283620b149/orig.mp4?Expires=1770401966&Signature=nNhMRxWQ8qfsGml4b9qRHMkjscequtkT1xcBQOnDMWO91FSx7mLUrDCgDdZoxRGP7BL8egRxbcNfv3Sn0gSBTF2-6Y5cap5LUjiM7YrnKU1oBwRg5MhQvJLCe-EfB65by2uqxqSD1P0P7R~oOj6O0abR9QEKfNnnuHxQjAwdHf0z-JAeTH3X7rQaVC8NqS9yyu3O5kW6tt7PuYLPKJtra1nOndQiTJ7uZpbISag0i-1gpDsut9jrelbcT48usCG8KAAtuEHi4smPFBTk2v-ds4B11KAXA-USR15IDfdhljfzuTTdgUpmLg7lxk2Jdm4BkBTV6OT7IjdsV6iuycnNBQ__&Key-Pair-Id=KUT5TJCACFTXG","The City of Houston's controller's office told the Budget and Fiscal Affairs Committee on July 29 that it projects a June 30, 2025, general fund balance of $413,400,000, roughly 16% of estimated expenditures excluding debt service and pay-as-you-go items. Deputy Controller Will Jones said the controller's projection is $8.3 million lower than the finance department's earlier estimate, driven primarily by a lower revenue projection from one category.

The controller reported a net upward revision of $41 million in revenue projection from the prior month. Key line-item changes included a $17.5 million increase in property-tax receipts tied to prior-year adjustments related to TERS '24, a $7.8 million increase in transfers from other funds for prior-year reimbursements, and smaller increases across charges for services, industrial assessments and intergovernmental reimbursements. Jones said the general investment pool yield rose to 4.081%, which helped investment revenue estimates.

Why it matters: the projected ending fund balance is about $219.3 million above the city's stated 7.5% target. Finance officials said the year-end totals will remain subject to change until the city publishes its FY25 comprehensive annual financial report later this fall.

Finance staff also walked the committee through enterprise-fund variances. Aviation operating revenues were projected lower by $16.1 million because of weaker terminal-rental and landing-fee receipts, while operating expenses at several enterprises declined because of personnel savings and delays in noncapital purchases. The combined utility system showed a $61 million drop in operating revenues offset by substantial expense reductions tied to slower capital and equipment spending.

Committee members asked about the Dedicated Drainage and Street Renewal Fund (DDSRF). Council Member Sally Alcorn and others questioned why transfers to capital projects were lower than expected in the current projection. Finance staff said the apparent reduction is a timing issue: project payments have been committed but not yet expended, and an additional $16 million transfer tied to the Jones settlement begins in FY26. \"As those capital projects progress, it'll be used to pay those projects in the coming years,\" the controller's office told the committee.

On pensions and retiree health funding, staff said an actuarial contract extension will appear on the next council agenda to preserve ongoing actuarial services required by state law. Separately, the committee heard the OPEB (other postemployment benefits) trust deposit schedule: $75 million committed over five years, with $10 million planned for FY26 and incremental increases in subsequent years to reach $20 million in year five.

The controller noted that some FY25 expenses and revenues continue to be processed and that the numbers will be finalized in the annual report expected this fall. No formal votes were taken during the committee discussion.","City finance staff told the Budget and Fiscal Affairs Committee the City of Houston expects an ending general fund balance of about $413.4 million for the year ending June 30, 2025, and described revenue and expenditure changes across funds, timing for Dedicated Drainage and Street Renewal Fund transfers and the schedule for OPEB trust deposits.",{"_33":112,"_35":36,"_37":38,"_39":113,"_41":114,"_43":115,"_45":115,"_47":116,"_49":117,"_51":118,"_53":119,"_55":56,"_57":58,"_59":120,"_61":62,"_63":64,"_65":121,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6504947,"Public speakers press city on solar on parking lots, World Cup impacts and TWDB subsidy calculations",0,3013000,"/Search/View?dp=1&key=5503272-d772eda37b442bde586e07d432812773&start=3013&end=3013","https://assets.pipeline.soar.com/5503272-d772eda37b442bde586e07d432812773/thumbnail_3013000.jpg","/articles/6504947/Houston/Harris-County/Texas/Public-speakers-press-city-on-solar-on-parking-lots-World-Cup-impacts-and-TWDB-subsidy-calculations","https://secure.pipeline.soar.com/6504947-a1a223940769ccb6fca244c5cd7386a6/orig.mp4?Expires=1770401966&Signature=gcuMVulgH6FTPRVbIWtdlil6RpjKgjXbGmblbHYTOdAaWWvVVCeghjQ3ylYaLDWJkhEpb2gwasxDSW6aZ~jEYgiAtdM47Td1~fKXM6q8h-aMRS4p3QtNkGfR-y1dFeux09SbfSZGT44D27xvYZpzhlU1u-3IjlqEVwZoe9lNVxMJYWwW2x38qhsSu5Gd7nPC9TuQTibZJrCZFCSL0qHIrxDczvlVGxK1MxGzgqjMbcd4nVpGIJtonFkAg1czh6A0TEviQwHZtUr9Q7FnV5CbTxC-u9n-4mgjovxsUD64uD9mQcu7HgJp0~p1FsucyxwVAgNs2SfVyhKwNIawGcntXw__&Key-Pair-Id=KUT5TJCACFTXG","Two members of the public spoke during the Budget and Fiscal Affairs Committee's public-comment period on July 29.

Doug Smith asked questions about TWDB loan subsidies and about refunding thresholds for a United Airlines refunding request. He also sought clarification on whether the city is discussing two separate water treatment plants; staff and council clarified that the East and Northeast plants are distinct projects and that related spending reflects different facilities.

Dominic Mazock urged the city to consider installing solar canopies over large surface parking facilities and terminal roofs (including airport facilities) and suggested the city explore selling air-rights or partnering with private operators to install photovoltaic arrays. Council members and staff acknowledged prior private-sector projects and said the idea could be explored further; Council Member Willie Davis and Council Member Abby Kaven noted examples such as the VA hospital parking canopy and asked staff to check plans for surface lots and new construction.

Why it matters: public suggestions addressed potential energy-cost savings, infrastructure siting and transparency for large, one-time event spending. Council members said staff will follow up and that the committee will review unspent project funds and related timing in a future meeting.

No formal action was taken on the public comments during the committee meeting.","Two public commenters urged the city to pursue solar over large surface lots and questioned budget assumptions for major events and TWDB subsidy calculations; council members acknowledged the suggestions and said they will follow up.","actionData","errors"]

Article not found

Finance working group outlines fall bond and loan plan, including TWDB SWIFT loans and United special-facility bonds

Ernst & Young engagement to standardize city contracts and KPIs aims for $17 million in FY26 savings

City reports $5.7B investment pool, negative swap fair value and premarketed airport bonds

Controller projects $413.4 million year‑end general fund balance; revenues revised upward

Public speakers press city on solar on parking lots, World Cup impacts and TWDB subsidy calculations