Item 3B2 Financial ReportCITY OF
SOUTHLAI<,.-E
MONTHLY FINANCIAL
REPORT
E 11 1
May 2021
PERFORMANCE AT A GLANCE
Year to Date
3 year Trend
Reference
7G...,.I.FundVs. Rev.
Positive
Positive
Page 3
(2 months prior activity)
Positive
Positive
Page 3
Property Tax Revenue
Positive
Positive
Page 4
Permit Revenues
Positive
Positive
Page 4
Departmental Expenditures Summary
Positive
Positive
Page 5
Positive = Positive variance or negative variance <1 % compared to seasonal trends.
Warning = Negative variance of 14% compared to seasonal trends
Negative = Negative Variance of > 4% compared to seasonal trends.
6mm E
City of Southlake Monthly Financial Report 1 6/10/2021
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY
DP is defined as the output of goods and services
oduced by labor and property located in the United
ates, The Bureau of Labor and Economic Analysis
ported that the "second" estimated GDP for the 1st ME
carter of 2021 increased at a rate of 6.4%. In the 4th $120,000,000
carter of 2020, GDP increased at a rate of 4.3%.
Housing Starts: V 9.5%
$100,000,000
Housing starts in April 2021 were at a seasonally
adjusted rate of 1,569,000, which is 9.5% below the
$80,000,000
revised previous month figure of 1,733,000, but 67.3%
above April 2020 rate of 938,000.
$60,000,000
UNEMPLOYMENT RATES
National: 5.8%
The National Unemployment rate for May 2021
$40,000,000
decreased to 5.8% when compared to 6.1% in April
2021.
$20,000,000
State-wide: 6.7%
The Texas Unemployment rate for April 2021
(preliminary) decreased slightly to 6.7% from 6.9% in
March 2021.
$-
DFW Area: V 5.7% 2017* 2018* 2019* 2020* 2021*
The Dallas/Fort Worth/Arlington Metropolitan Area *October -May ■ New Construction permit values
unemployment rate for April 2021 (preliminary)
decreased to 5.7% when compared to 6.5% in March
2021. 0
City of Southlake Monthly Financial Report 2 6/10/2021
GENERAL FUND
OVERALL FUND PERFORMANCE:
GENERAL FUND REVENUE VS EXPENDITURES 2021
FY 2021
FY 2021
FY 2021 REVENUE FY 2021 EXPENDITURE ---2020 EXPEND.
REVENUE
EXPENDITURE
VARIANCE
Oct $ 1,141,203
$ 2,174,348
$
(1,033145)
$16,000,000
Nov $ 1,850,321
$ 2,812,519
$
(962:198)
$14,000,000
Dec $ 7,709,670
$ 4,221,574
$
3,488,096
Jan $ 14,791,267
$ 2,764,227
$
12,027,040
$12,000,000
Feb $ 7,203,499
$ 3,290,949
$
3,912,550
Mar $ 2,085,482
$ 3,281,698
$
(1,196,216)
$10,000,000
Apr $ 1,690,587
$ 3,115,923
$
(1,425,336)
$8,000,000
May $ 2,928,532 $ 2,931,142 $ (2,610)
Jun $
$
$
$6,000,000
Jul $ $ $
Aug $ -
$ -
$
-
$4,000,000
Sep
$
$2,000,000
Tot $ 39,400,561 $ 24,592,380 $ 14,808,181
CHART OUTLOOK:
POSITIVE
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
The outlook for the year is positive as overall revenues and expenditures are on target with budget. The revenues are higher than expenditures by $14.8M. The significant variance is due to the significant portion of
property tax revenue
collected (over 97%)
of the budgeted property tax revenue which is the largest revenue source for the general fund.
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2021-2019 COMPARISON
FY 2021
FY 2020
FY 2019
FY 2021 FY 2020 FY 2019
Oct $ 1,299,576
$ 1,278,635
$
1,253,417
$2 500,000
Nov $ 1,084,677
$ 1,309,584
$
1,140,440
Dec $ 1,926,407
$ 1,993,686
$
1,613,337
Jan $ 1,256,119
Feb $ 978,395
$ 1,360,873
$ 1,011,429
$
$
1,030,047
1,094,354
$2,000,000
Mar $ 1,727,925
$ 1,162,936
$
1,321,691
$1,500,000
_
Apr $ 1,470,896
$ 1,038,287
$
1,294,023
May $ -
$ 1,153,263
$
1,295,321
$1,000,000
Jun $
$ 1,375,636
$
1,274,338
Jul $ -
$ 1,190,064
$
1,179,145
Aug
$ 1,233,673
$
1,344,868
$500,000
Sep
$ 1,416,226
$
1,354,327
Tot $ 9,743,995
$ 15,524,291
$
15,195,307
$-
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
CHART OUTLOOK: POSITIVE
Year to date sales tax collections are trending above FY 2020 (6.4%) and FY 2019 (11.4%) collections. The most recent collection for April sales was 41.7% and 13.4% above April collections for FY 2020 and FY 2019,
respectively. Year to date collections are trending above budget for the year therefore the outlook is considered positive. Staff will continue to closely monitor collections.
City of Southlake Monthly Financial Report 3 6/10/2021
GENERAL FUND
REVENUE ANALYSIS (continued)
PROPERTY TAX 3 YEAR TREND
FY 2021
FY 2020
FY 2019 ■ FY 2021 ■ FY 2020 FY 2019
Oct $ 778,578
$ 790,236 $
1,151,812 $14,000,000
Nov $ 1,582,957
$ 1,426,054 $
1,552,708 $12,000,000
Dec $ 6,036,699
$ 9,161,119 $
10,397,278 $10,000,000
Jan $ 13,167,125
$ 10,088,389 $
9,985,201 $8,000,000
Feb $ 4,445,041
$ 4,237,797 $
3,385,436
Mar $ 411,151
$ 420,930 $
395,710 $6,000,000
Apr $ 259,058
$ 55,958 $
156,647 $4,000,000
May $ 188,130
$ 105,567 $
- $2,000,000
Jun $ -
$ 448,670 $
312,620 $-
Jul * $ -
$ (1,457,677) $
(1,295,201) $(2,000,000) Oct Nov Dec Jan Feb Mar Apr May Jun Aug
Aug $
$ 52,000 $
59,318 $(4,000,000)
Sep $
$ 28,446 $
46,464
Tot $ 26,868,739
$ 25,357,489 $
26,147,993
* Net
transfer of TIF revenues to TIF
CHART OUTLOOK:
POSITIVE fund
2021 YTD property tax
collections ($26,868,739) are approximately 2.2% higher than 2020 YTD (26,286,050) and 0.6% less and 2019 YTD ($27,024,792) as of May. As indicated on the chart, the majority of the property
tax revenue is collected
in the first few months of the fiscal year. YTD collections are trending slightly above budget therefore the outlook is considered postiive.
PERMIT REVENUE 2021-2019 COMPARISON
FY 2021
FY 2020
FY 2019
FY 2021 FY 2020 FY 2019
Oct $ 50,043
$ 134,067 $
85,534 $700,000
Nov $ 69,734
$ 238,528 $
75,588
Dec $ 102,515
$ 135,168 $
160,859 $600,000
Jan $ 88,737
$ 204,931 $
121,526
Feb $ 76,270
$ 212,195 $
121,533 $500,000
Mar $ 150,142
$ 126,842 $
186,152
Apr $ 124,870
$ 188,968 $
111,970 $400,000
May $ 136,364
$ 128,791 $
601,621
Jun $ -
$ 148,103 $
111,503 $300,000
Jul $ -
$ 152,920 $
163,760 $200,000
Aug $
$ 69,101 $
155,328
Sep
$ 246,547 $
474,884 $100,000
Tot $ 798,675
$ 1,986,161 $
2,370,258
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
CHART OUTLOOK: POSITIVE
The value of new construction
permits ($73.6MM+)
issued for FY 2021 YTD is approximately 0.04% and 32.16% lower when compared to FY 2020 and FY 2019 respectively. FY 2021 collections are 41.7% and 45.5%
below FY 2020 and 2019,
respectively. The primary reason for the significant variance is due to the timing related to one commercial permit issued in Q1 (October 2, 2020) but revenue was collected in Q4 of FY 2020. The
permit revenue year to date is trending above budget therefore the outlook is considered positive.
City of Southlake Monthly Financial Report 4 6/10/2021
EXPENDITURE ANALYSIS
DEPARTMENTAL EXPENDITURES SUMMARY
FY 2021 ACTUAL
FY 2020 ACTUAL YTD
FY 2021 BUDGET
FY 2020/2021 YTD
YTD (MAY)
(MAY)
YTD (MAY)
VARIANCE
BUDGET VARIANCE FY
2021 % SPENT
CIVIC)
$ 534,755
$
631,271
$
715,852
$
96,516
$ 181,097
74.70%
COMM
$ 322,207
$
284,473
$
354,984
$
(37,734)
$ 32,777
90.77%
CS
$ 3,148,578
$
3,322,070
$
4,264,902
$
173,492
$ 1,116,324
73.83%
CSO
$ 331,727
$
307,607
$
377,627
$
(24,120)
$ 45,900
87.85%
DPS
$ 10,964,851
$
11,464,253
$
12,873,975
$
499,402
$ 1,909,124
85.17%
ED
$ 97,173
$
85,539
$
178,942
$
(11,634)
$ 81,769
54.30%
FIN
$ 1,558,266
$
1,389,839
$
1,750,681
$
(168,427)
$ 192,415
89.01%
HR
$ 547,690
$
496,753
$
590,374
$
(50,937)
$ 42,684
92.77%
IT
$ 1,925,985
$
1,700,049
$
2,198,289
$
(225,936)
$ 272,304
87.61%
PDS
$ 1,364,970
$
1,325,372
$
1,566,869
$
(39,598)
$ 201,899
87.11%
PW
$ 2,654,340
$
2,888,274
$
3,162,014
$
233,934
$ 507,674
83.94%
SS
$ 1,228,818
$
1,140,598
$
1,347,424
$
(88,220)
$ 118,606
91,20%
Totals
$ 24,679,360
$
25,036,098
$
29,381,933
$
356,738
$ 4,702,573
84,00%
FY 2021
ACTUAL
YTD (MAY)
FY 2020 ACTUAL YTD (MAY) FY 2021 BUDGET YTD (MAY)
$18,000,000
$16,000,000
$14,000,000
$12,000,000
-
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$-
CMO
COMM
CS
CSO
DPS
ED FIN HR IT
PDS PW SS
CHART OUTLOOK:
I POSITIVE
As indicated above, 2021 expenditures are
below 2020 expenditures for the same period with
a decrease of 1.4% primarily due to DPS expenditures eligible for CARES/grants funding, reduction in recreation and vacancy
savings. The outlook is positive expenditures are on pace
to be below budgeted
expenditures
for the fiscal year.
City of Southlake Monthly Financial Report 5 6/10/2021
9 EXPERIENC
SOUTHLF
May 25, 2021
The Marq Financial Review
EXPERIENCE
SOUTHLAKE
MARL
53.70%
r6965!
Revenue Expense
1.38M 1.98M
CEDC FINANCIAL DASHBOARD
as of. 5/2512021 12-17 PM
Champions Club
61.3Q96
77.371
Revenue Expense
1.21M 1.57M
Legends Hall
26A04�
40.12gb
Revenue Expense
164.64K 410.32K
Net Revenue: Current & Previous Year
0CCR •LHR —Previous Year
300K WPM
r—
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
2020 2020 2020 2020 2020 2020 2020 2020 2021 2021 2021 2021 2021
FY, Period
2D21 (FY) + g (period)
The Marq Rentals Revenue (Net)
■CC -Rental -Revenue GLH-Rental-Revenue
20K .
..............................
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
2020 2020 2020 2020 2020 2020 2020 2020 2021 2021 2021 2021 2021
The Marq Membership Revenue (Net)
=X K ... ..............
156K .................
100K ..........
50K ......
OK ...
May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
2020 2020 2020 2020 2020 2020 2020 2020 2021 2021 2021 2021 2021
CC MEMBERSHIP TRENDS
2800
2600
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1600
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CC Membership Joins vs. Terminations, and Retention Rate (Month -to -Month)
through 4/30/2021
450
412
400 �
350 333
300
250
224
201 203 206
200 187
164 157
150 1 138
124 22 124 22 125 120
12 102
100 s
0
78
63
50
2
0 05
0
100.0%
95.0%
371
90.0%
85.0% Joins
285 80.0%
� Terminations
75.0%
198
70.0% Retention
190 65.0% Rate
157 155 153
127 128 128130 60.0%
118 113
103109 103 96 70 55.0%
9 88 87
7 50.0%
45.0%
40.0%
Oh OHO 01 O`b O°� ►�O ^^ ►��' O� Off' O� Off` O� OHO O� O`b O°� �O ^^ ��' O� Off' O� Off`
O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' ►�' �' ^' �'
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ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti
200
100
0
-34
400 1 -39
200
-300
-400
CC MEMBERSHIP JOINS VS TERMINATIONS BY MONTH & TYPE
■Adult ■ Fam Fam-NC ■ SR ■ Youth
48
-10
-500
Vr in ui VY ui ut N N ut ui vi 0 0 in in ui ui ui ui in ui 0 V. ui V! N N N N N N N
Jan-20 Feb-20 Mar-20 Apr 20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan21 Feb-21 Mar 21 Apr-21
90
80
70
60
50
39
40
30
2010
kT
0
COVID-19
.act-20
39
Nov-20
25
Dec-20
21
Jan-21
19
Feb-21
9
Mar-21
7
Apr-21
3
-1/0
15 5010
32
8076
FY2021 CC Membership Terminations by Reason and by Month
62
161— 91O-51619 0'2
21 131912
Ofi2 111000 01o1001 0222204 0000111 1101000
Not Utilizing FamilylHealth Selected other Unsatisfied with Unsatisfied with
Membership Failed Payment RelocatinglTravel Transfer NoReasonlOther Emergency service provider FacilitylEquipment Member Amenities
32 25 2 8 1 0 0 0 1
16 26 2 11 1 1 2 0 1
19 51 9 10 1 0 2 0 0
20 80 21 10 1 1 2 0 1
25 76 4 13 0 0 2 1 0
16 47 6 19 0 0 0 1 0
19 62 5 12 0 1 4 1 0
18.5% 46.2% 6.2% 10.5% 0.5% 0.4% 1.5% 0.4% 0.4%
35 Lc
3L',Lro
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
= Oct-20 = Nov-20 = Dec-2e =Jao-21 = Re 21 = Mar-21 = Apr-21 —%
EXPERIENCE
SOUTHLAKE
Three Year Revenue Comparison by Month
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
o���
Fiscal Year 2019 Actual Fiscal Year 2020 Actual ■ Fiscal Year 2021 Actual
EXPERIENCE
SOUTHLAI<,.,.,E