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Item 3B2 Financial ReportCity of Southlake Monthly Financial Report 1 5/15/2019 Reference Page 3 Page 3 Page 4 Page 4 Page 5 MONTHLY FINANCIAL REPORT April 2019 = Negative Variance of > 4% compared to seasonal trends. Warning Negative PERFORMANCE AT A GLANCE Year to Date 3 year Trend Positive PERFORMANCE INDICATORS Positive Warning Permit Revenues Positive Positive Departmental Expenditures Summary Positive = Negative variance of 1-4% compared to seasonal trends = Positive variance or negative variance <1% compared to seasonal trends. GENERAL FUND PositiveGeneral Fund Exp. Vs. Rev. Sales Tax Revenue (2 months prior activity) Property Tax Revenue Positive Positive Negative Positive City of Southlake Monthly Financial Report 2 5/15/2019 National GDP: Housing Starts: Housing starts in March 2019 were at a seasonally adjusted rate of 1,139,000, which is 0.3% below the revised February figure of 1,142,000, and 14.2% below the same month last year. -0.3% UNEMPLOYMENT RATES 3.6% The Dallas/Fort Worth/Arlington Metropolitan Area unemployment rate for March 2019 decreased to 3.3% (preliminary) when compared to 3.6% in February 2019. 3.3% State-wide:3.8% The Texas Unemployment rate for March 2019 remains unchanged at 3.8% (preliminary) when compared to February 2019. DFW Area: ECONOMIC INDICATORS NATIONAL ECONOMY FINANCIAL ACTIVITY3.20% GDP is defined as the output of goods and services produced by labor and property located in the United States, The Bureau of Labor and Economic Analysis reported that the "advance" estimated GDP for the 1st quarter of 2019 increased at a rate of 3.2%. In the 4th quarter of 2018, GDP increased at a rate of 2.2%. The National Unemployment rate for April 2019 decreased to 3.6% from March 2019 rate of 3.8%. National: 5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES $- $20,000,000 $40,000,000 $60,000,000 $80,000,000 $100,000,000 $120,000,000 $140,000,000 $160,000,000 2015*2016*2017*2018*2019* Construction permit values*October-April City of Southlake Monthly Financial Report 3 5/15/2019 FY 2019 REVENUE FY 2019 EXPENDITURE VARIANCE Oct 1,961,498$ 2,322,392$ (360,894)$ Nov 2,186,077$ 3,557,416$ (1,371,339)$ Dec 12,013,491$ 3,156,232$ 8,857,259$ Jan 11,895,339$ 2,736,019$ 9,159,320$ Feb 6,213,131$ 3,254,819$ 2,958,312$ Mar 1,920,968$ 3,502,477$ (1,581,509)$ Apr 1,971,150$ 2,727,519$ (756,369)$ May -$ -$ -$ Jun -$ -$ -$ Jul -$ -$ -$ Aug -$ -$ -$ Sep -$ Tot 38,161,654$ 21,256,874$ 16,904,780$ POSITIVE FY 2019 FY 2018 FY 2017 Oct 1,253,417$ 1,214,148$ 1,198,502$ Nov 1,140,440$ 1,272,500$ 1,449,661$ Dec 1,613,337$ 1,744,684$ 1,556,737$ Jan 1,030,047$ 1,135,430$ 1,129,266$ Feb 1,094,354$ 1,055,400$ 853,929$ Mar 1,321,691$ 1,251,079$ 1,326,630$ Apr -$ 1,096,365$ 1,195,811$ May -$ 1,363,921$ 1,185,530$ Jun -$ 1,292,089$ 1,243,537$ Jul -$ 1,206,050$ 1,155,660$ Aug 1,265,360$ 1,262,402$ Sep $1,227,621 1,318,543$ Tot 7,453,285$ 15,124,646$ 14,876,208$ GENERAL FUND REVENUE VS EXPENDITURES 2019 OVERALL FUND PERFORMANCE: REVENUE ANALYSIS GENERAL FUND SALES TAX 2019-2017 COMPARISON CHART OUTLOOK: GENERAL FUND CHART OUTLOOK: The outlook for the year is positive as revenues are outpacing expenditures by $16.9M. The significant variance is due to the significant portion of property tax revenue collected of the budgeted property tax revenue which is the largest revenue source for the general fund. Year to date sales tax collections are trending below the 2 previous years with the largest variance in the first quarter (October-December)which is primarily related to construction and a few retailers trending in the red. The decline for January sales is largely related to an audit adjustment from the comptroller for various businesses.YTD the FY 2019 collections are 0.8% and 2.9% below FY 2017 and 2018, respectively. Staff will continue to closely monitor collections. Warning $- $200,000 $400,000 $600,000 $800,000 $1,000,000 $1,200,000 $1,400,000 $1,600,000 $1,800,000 $2,000,000 FY 2019 FY 2018 FY 2017 $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY 2019 REVENUE FY 2019 EXPENDITURE 2018 EXPEND. City of Southlake Monthly Financial Report 4 5/15/2019 FY 2019 FY 2018 FY 2017 Oct 1,151,812$ 217,086$ 658,177$ Nov 1,552,708$ 1,832,023$ 1,237,982$ Dec 10,397,278$ 6,601,683$ 9,403,107$ Jan 9,985,201$ 12,435,268$ 8,618,274$ Feb 3,385,436$ 3,744,931$ 2,935,185$ Mar 395,710$ 196,116$ 341,747$ Apr 156,647$ 102,531$ 161,330$ May -$ 99,690$ 111,591$ Jun -$ 426,191$ -$ Jul *-$ (1,431,282)$ (614,593)$ Aug -$ -$ 44,839$ Sep -$ 70,888$ 15,952$ Tot 27,024,792$ 24,295,125$ 22,913,591$ POSITIVE FY 2019 FY 2018 FY 2017 Oct 85,534$ 126,131$ 81,765$ Nov 75,588$ 145,755$ 121,569$ Dec 160,859$ 87,701$ 133,374$ Jan 121,526$ 126,075$ 120,595$ Feb 121,533$ 199,087$ 66,545$ Mar 186,152$ 229,059$ 159,631$ Apr 111,970$ 126,788$ 208,205$ May -$ 98,364$ 153,442$ Jun -$ 162,515$ 243,119$ Jul -$ 168,508$ 108,137$ Aug -$ 185,552$ 114,751$ Sep 223,441$ 154,374$ Tot 863,162$ 1,878,976$ 1,665,507$ PERMIT REVENUE 2018-2016 COMPARISON CHART OUTLOOK: GENERAL FUND REVENUE ANALYSIS (continued) PROPERTY TAX 3 YEAR TREND CHART OUTLOOK: 2019 YTD property tax collections ($27,024,792)are approximately 7.0%higher than 2018 YTD ($25,129,638)as of April.As indicated on the chart,the majority of the property tax revenue is collected in the first few months of the fiscal year. * Net transfer of TIF revenues to TIF fund The value of new construction permits ($61.6M+) issued for FY 2019 YTD is approximately 21.1% and 21.6% lower when compared to FY 2018 and FY 2017 respectively. Negative $(4,000,000) $(2,000,000) $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul *Aug FY 2019 FY 2018 FY 2017 $- $50,000 $100,000 $150,000 $200,000 $250,000 $300,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY 2019 FY 2018 FY 2017 City of Southlake Monthly Financial Report 5 5/15/2019 FY 2019 YTD (APRIL) FY 2018 YTD (APRIL)FY 2019 BUDGET B U D FY 2019 % SPENT 536,610$ 511,845$ 975,301$ 55.02% 251,922$ 237,853$ 451,642$ 55.78% 3,074,447$ 3,359,483$ 5,962,023$ 51.57% 258,353$ 248,804$ 525,624$ 49.15% 9,593,996$ 9,197,629$ 17,814,605$ 53.85% 71,132$ 80,469$ 141,254$ 50.36% 1,408,345$ 1,343,466$ 2,443,295$ 57.64% 413,044$ 414,155$ 820,876$ 50.32% 1,201,032$ 1,048,635$ 2,118,827$ 56.68% 1,204,247$ 1,169,820$ 2,275,733$ 52.92% 2,422,937$ 2,390,237$ 4,925,899$ 49.19% 820,809$ 785,806$ 1,429,329$ 57.43% 21,256,874$ 20,788,202$ 39,884,408$ 53.30% EXPENDITURE ANALYSIS POSITIVE (152,397)$ 267,271$ 8,220,609$ 70,122$ 1,034,950$ 407,832$ 917,795$ CSO DPS ED FIN HR IT DEPARTMENTAL EXPENDITURES SUMMARY (14,069)$ 199,720$ BUDGET VARIANCE 438,691$ 2,887,576$ (34,427)$ (32,700)$ (35,003)$ (468,672)$ As indicated on the chart the 2019 expenditures are comparable to 2018 expenditures for the same period with an increase of 2.25%primarily due to approved pay plan adjustments.The outlook is positive expenditures are on pace to be below budgeted expenditures for the fiscal year. FY 2018/2019 YTD VARIANCE (24,765)$ 285,036$ (9,549)$ (396,367)$ 9,337$ (64,879)$ SS Totals PW CMO CS COMM 18,627,534$ CHART OUTLOOK: 608,520$ 2,502,962$ 1,111$ 1,071,486$ PDS $- $2,000,000 $4,000,000 $6,000,000 $8,000,000 $10,000,000 $12,000,000 $14,000,000 $16,000,000 $18,000,000 CMO COMM CS CSO DPS ED FIN HR IT PDS PW SS FY 2019 YTD (APRIL)FY 2018 YTD (APRIL)FY 2019 BUDGET City of Southlake Investment Portfolio Summary March 31, 2019 For the Quarter Ended Prepared by HilltopSecurities Asset Management Table of Contents / Market Recap Report Name Executive Summary Benchmark Comparison Detail of Security Holdings Change in Value Earned Income Investment Transactions Amortization and Accretion Projected Fixed Income Cash Flows Certification Page MARKET RECAP - MARCH 2019: Fixed income investors and the Fed finally threw in the towel on rate hikes, succumbing to signs of a global economic slowdown, even as most domestic economic data continued to paint a mixed picture. The 35 day government shutdown earlier in the year has wreaked havoc on much of the data. In addition to delayed release schedules and problematic seasonal adjustments, it’s apparent that the shutdown had a negative impact on economic activity in December and January, and that February and March are enjoying a bit of a snapback. The first release of Q4 2018 GDP showed the economy expanded at a +2.6% annualized pace. However, downward revisions to December retail sales pushed the final Q4 GDP measure down to +2.2%. February’s headline retail sales fell by -0.2%, well below the expected +0.2% advance, although a positive revision to January eased the disappointment. The ISM manufacturing data also fell short of expectations as the February reading slid to 54.2, the weakest in two years. On the other hand, the ISM non-manufacturing (service sector) index jumped to 59.7 in February, within 1.6 points of an all-time high. The new orders component surged to 64.7, the highest reading in three decades of record keeping. The February employment report only added to the confusion as nonfarm payrolls rose by a meager +20k, ridiculously short of the +180k median forecast. Meanwhile, January’s gain was revised upward to +311k. So, February was really bad and January was really good. The two-month average is a solid +165k, while the five-month average is still a very strong +206k. The unemployment rate slipped back to 3.8%, just a tenth higher than the 49-year low point in September. Average hourly earnings advanced to a +3.4% year-over-year pace, the fastest wage growth in a decade. In short, the job market remains quite healthy by most any measure. Housing data was mixed, an adjective that could be used to describe much of the economic data released during March. Importantly, inflation remains well contained and the upward trend seen through the first half of last year has been stymied. The headline consumer price index slipped to +1.5% year-over-year, the lowest since September 2016. Core CPI fell to +2.1%, while the Fed’s preferred measure, core PCE, is running at a +1.8% pace. The Fed has taken notice of the moderating inflation trends with Chair Powell acknowledging the FOMC has failed to attain its inflation objectives. With economic growth sputtering and inflation trending lower, the Fed has made a complete about-face. Recall that in December, not only did the FOMC raise the overnight fed funds target rate by 25 basis points, but their dot plot also indicated they expected to hike three more times during 2019. Just three months later at the March FOMC meeting, those plans were thrown out the window with the dot plot calling for zero rate increases this year. Furthermore, the Fed will halt their balance sheet runoff, or quantitative tightening, in the coming months. The dovish shift by a now patient Fed sparked yet another bond market rally. At this point, not only have rate hikes been priced out of the market, but some investors now see rate cuts on the horizon and yield curve inversions have become even more pronounced. The 10-year Treasury note yield closed the month at 2.40%, just below the one-month T-bill. The two-year T-note yield fell to 2.26%, 71 basis points below last November’s 2.97% high point, while the three-year dropped even further to 2.20%. Lower interest rates and an accommodative Fed provided a boost to equity markets, which extended their rally from December’s swoon. Page 2 of 14 City of Southlake Investment Officers' Certification This report is prepared for the City of Southlake (the “Entity”) in accordance with Chapter 2256 of the Texas Public Funds Investment Act ("PFIA"). Section 2256.023(a) of the PFIA states that: “Not less than quarterly, the investment officer shall prepare and submit to the governing body of the entity a written report of the investment transactions for all funds covered by this chapter for the preceding reporting period.” This report is signed by the Entity’s investment officers and includes the disclosures required in the PFIA. To the extent possible, market prices have been obtained from independent pricing sources. The investment portfolio complied with the PFIA and the Entity’s approved Investment Policy and Strategy throughout the period. All investment transactions made in the portfolio during this period were made on behalf of the Entity and were made in full compliance with the PFIA and the approved Investment Policy. March 31, 2019 For the Quarter Ended Officer Names and Titles: Name: Sharen Jackson Title: Chief Financial Officer Name: Mary Morgan Title: Deputy Director of Finance Page 3 of 14 Sharen Jackson Mary Morgan Executive Summary As of 03/31/19 City of Southlake 125,375,120.21 125,472,270.50 125,566,550.21 (97,150.29)Unrealized Gain /(Loss) Par Value Book Value Beginning Values as of 12/31/18 Market Value Market Value % 99.92% Weighted Avg. YTW Weighted Avg. YTM 2.194% 2.194% Account Summary Ending Values as of 03/31/19 131,565,173.01 131,597,855.07 131,655,013.01 (32,682.06) 99.98% 2.313% 2.313% Allocation by Security Type AGCY BULLET 8% AGCY CALL 6% LGIP 83% TREASURY 4% Total:100% TEXPOOL 50% TEXSTAR 25% FHLB 8% TXCLASS 4% US TREAS 4% FNMA 4% Other Issuers 5% Total:100% Allocation by Issuer 0% 20% 40% 60% 80% 100% Overnight 2 - 90 Days 91 - 180 Days 6 - 12 Months 83% 8%6%4% Maturity Distribution % Weighted Average Days to Maturity: 20 AAA 100% Total:100% Credit Quality Page 1 of 1Print Date: 4/23/2019 Print Time: 11:32 am Page 4 of 14 As of 03/31/2019 Benchmark Comparison City of Southlake 0.00% 0.40% 0.80% 1.20% 1.60% 2.00% 2.40% 2.80% Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 1-YR CMT 3-MO CMT 6-MO CMT TEXPOOL City of Southlake Note 2: Benchmark data for TexPool is the monthly average yield. Note 1: CMT stands for Constant Maturity Treasury. This data is published in Federal Reserve Statistical Release H.15 and represents an average of all actively traded Treasury securities having that time remaining until maturity. This is a standard industry benchmark for Treasury securities. The CMT benchmarks are moving averages. The 3-month CMT is the daily average for the previous 3 months, the 6-month CMT is the daily average for the previous 6 months, and the 1-year and 2-year CMT's are the daily averages for the previous 12-months. Page 1 of 1Print Time: 11:33 amPrint Date: 4/23/2019 Page 5 of 14 Mty DateCUSIPSec. Description CPN Par Value Orig Cost Book Value Market Value Detail of Security Holdings As of 03/31/2019 Sec. Type Mkt Price Days to Mty Days to CallNext Call City of Southlake YTM Settle Date YTWCall Type Purch Price Community Enhancement Dev Corp 22,711,378.61 22,711,378.61 22,711,378.61 22,711,378.61TEXPOOLTexPool 1LGIP 100.000 100.000 2.416 2.416 22,711,378.61 22,711,378.61 22,711,378.61 22,711,378.61 1Total for Community Enhancement Dev Corp 100.000 100.000 2.416 2.416 Crime Control District 4,107,537.30 4,107,537.30 4,107,537.30 4,107,537.30TEXSTARTexSTAR 1LGIP 100.000 100.000 2.411 2.411 4,107,537.30 4,107,537.30 4,107,537.30 4,107,537.30 1Total for Crime Control District 100.000 100.000 2.411 2.411 General Operating 1,090,578.82 1,090,578.82 1,090,578.82 1,090,578.82LNSTCRPLoneStar Corp O/N 1LGIP 100.000 100.000 2.590 2.590 2,628,489.81 2,628,489.81 2,628,489.81 2,628,489.81LNSTGOVLoneStar Gov O/N 1LGIP 100.000 100.000 2.410 2.410 29,025,600.96 29,025,600.96 29,025,600.96 29,025,600.96TEXPOOLTexPool 1LGIP 100.000 100.000 2.416 2.416 24,803,864.79 24,803,864.79 24,803,864.79 24,803,864.79TEXSTARTexSTAR 1LGIP 100.000 100.000 2.411 2.411 5,184,940.15 5,184,940.15 5,184,940.15 5,184,940.15TXCLASSTexas CLASS 1LGIP 100.000 100.000 2.610 2.610 5,000,000.00 4,995,000.00 4,999,868.30 4,995,650.0004/29/16 1.284 1.284FHLB3130A7R72AGCY CALL Anytime 1.250 04/29/19 CONT 99.900 99.913 29 5 5,000,000.00 4,927,148.44 4,985,342.25 4,983,600.0006/04/18 2.314 2.314U.S. Treasury912828R85TREAS NOTE 0.875 06/15/19 98.543 99.672 76 3,000,000.00 2,996,250.00 2,999,667.06 2,990,160.0007/12/16 1.123 1.123FFCB3133EGJX4AGCY CALL Anytime 1.080 07/05/19 CONT 99.875 99.672 96 5 5,000,000.00 5,000,230.00 5,000,043.40 4,981,650.0008/23/17 1.408 1.408FHLB3130ABZX7AGCY BULET 1.410 08/07/19 100.005 99.633 129 5,000,000.00 4,905,800.00 4,957,921.05 4,959,100.0007/16/18 2.513 2.513FNMA3135G0R39AGCY BULET 1.000 10/24/19 98.116 99.182 207 85,733,474.53 85,557,902.97 85,676,316.59 85,643,634.53 30Total for General Operating 99.796 99.896 2.258 2.258 Parks Development Corporation 14,680,361.29 14,680,361.29 14,680,361.29 14,680,361.29TEXPOOLTexPool 1LGIP 100.000 100.000 2.416 2.416 4,422,261.28 4,422,261.28 4,422,261.28 4,422,261.28TEXSTARTexSTAR 1LGIP 100.000 100.000 2.411 2.411 19,102,622.57 19,102,622.57 19,102,622.57 19,102,622.57 1Total for Parks Development Corporation 100.000 100.000 2.415 2.415 131,655,013.01 131,479,441.45 131,597,855.07 131,565,173.01 20Total for City of Southlake 99.867 99.932 2.313 2.313 0 Print Date: 4/23/2019 Print Time: 11:33 am Page 1 of 1 Page 6 of 14 CUSIP Change in Value From 12/31/2018 to 03/31/2019 Amortization / Accretion Realized Gain/(Loss) Book Value Cost of Purchases Market ValueMarket Value Book Value Maturities / Calls / Sales City of Southlake Change in Mkt Value 12/31/18 03/31/19 03/31/1912/31/18Security Type Security Description Community Enhancement Dev Corp TEXPOOL 0.00 22,711,378.61 22,178,413.69 22,711,378.61 22,178,413.69 532,964.92 0.00 0.00 LGIP 532,964.92 TexPool 22,711,378.61 0.00 Total for Community Enhancement Dev Corp 22,178,413.69 22,711,378.61 22,178,413.69 532,964.92 0.00 0.00 532,964.92 Crime Control District TEXSTAR 0.00 4,107,537.30 3,784,035.45 4,107,537.30 3,784,035.45 323,501.85 0.00 0.00 LGIP 323,501.85 TexSTAR 4,107,537.30 0.00 Total for Crime Control District 3,784,035.45 4,107,537.30 3,784,035.45 323,501.85 0.00 0.00 323,501.85 General Operating LNSTCRP 0.00 1,090,578.82 1,083,632.43 1,090,578.82 1,083,632.43 6,946.39 0.00 0.00 LGIP 6,946.39 LoneStar Corp O/N LNSTGOV 0.00 2,628,489.81 2,612,974.39 2,628,489.81 2,612,974.39 15,515.42 0.00 0.00 LGIP 15,515.42 LoneStar Gov O/N TEXPOOL 0.00 29,025,600.96 25,692,463.17 29,025,600.96 25,692,463.17 19,654,572.84 0.00 (16,321,435.05)LGIP 3,333,137.79 TexPool TEXSTAR 0.00 24,803,864.79 18,672,092.29 24,803,864.79 18,672,092.29 6,131,772.50 0.00 0.00 LGIP 6,131,772.50 TexSTAR TXCLASS 0.00 5,184,940.15 5,151,519.63 5,184,940.15 5,151,519.63 33,420.52 0.00 0.00 LGIP 33,420.52 Texas CLASS 3130ADF23 0.00 0.00 4,998,250.00 0.00 4,999,628.75 0.00 371.25 (5,000,000.00)AGCY BULET (4,998,250.00)FHLB 1.750 01/18/19 3130A7R72 0.00 4,999,868.30 4,978,400.00 4,995,650.00 4,999,444.95 0.00 423.35 0.00 AGCY CALL 17,250.00 FHLB 1.250 04/29/19 912828R85 0.00 4,985,342.25 4,963,500.00 4,983,600.00 4,967,752.95 0.00 17,589.30 0.00 TREAS NOTE 20,100.00 U.S. Treasury 0.875 06/15/19 3133EGJX4 0.00 2,999,667.06 2,976,570.00 2,990,160.00 2,999,348.34 0.00 318.72 0.00 AGCY CALL 13,590.00 FFCB 1.080 07/05/19 3130ABZX7 0.00 5,000,043.40 4,961,500.00 4,981,650.00 5,000,074.30 0.00 (30.90) 0.00 AGCY BULET 20,150.00 FHLB 1.410 08/07/19 3135G0R39 0.00 4,957,921.05 4,930,350.00 4,959,100.00 4,939,471.00 0.00 18,450.05 0.00 AGCY BULET 28,750.00 FNMA 1.000 10/24/19 85,676,316.59 0.00 Total for General Operating 81,021,251.91 85,643,634.53 81,118,402.20 25,842,227.67 (21,321,435.05) 37,121.77 4,622,382.62 Parks Development Corporation TEXPOOL 0.00 14,680,361.29 14,593,789.40 14,680,361.29 14,593,789.40 86,571.89 0.00 0.00 LGIP 86,571.89 TexPool TEXSTAR 0.00 4,422,261.28 3,797,629.76 4,422,261.28 3,797,629.76 624,631.52 0.00 0.00 LGIP 624,631.52 TexSTAR 19,102,622.57 0.00 Total for Parks Development Corporation 18,391,419.16 19,102,622.57 18,391,419.16 711,203.41 0.00 0.00 711,203.41 Print Date: 4/23/2019 Print Time: 11:34 am Page 1 of 2 Page 7 of 14 CUSIP Change in Value From 12/31/2018 to 03/31/2019 Amortization / Accretion Realized Gain/(Loss) Book Value Cost of Purchases Market ValueMarket Value Book Value Maturities / Calls / Sales City of Southlake Change in Mkt Value 12/31/18 03/31/19 03/31/1912/31/18Security Type Security Description 0.00 131,597,855.07 Total for City of Southlake 125,375,120.21 131,565,173.01 125,472,270.50 27,409,897.85 (21,321,435.05) 37,121.77 6,190,052.80 Print Date: 4/23/2019 Print Time: 11:34 am Page 2 of 2 Page 8 of 14 From 12/31/2018 to 03/31/2019 City of Southlake Beg. Accrued Net Income Security DescriptionCUSIP Disc Accr / Prem Amort Earned Income Interest Earned Interest Rec'd / Sold / Matured Interest Purchased Ending AccruedSecurity Type Community Enhancement Dev Corp TEXPOOL TexPool 0.00 132,964.92 0.00 0.00 132,964.92 132,964.92 LGIP 0.00 0.00 132,964.92 0.00 132,964.92 0.00 132,964.92 Total for Community Enhancement Dev Corp 0.00 Crime Control District TEXSTAR TexSTAR 0.00 23,501.85 0.00 0.00 23,501.85 23,501.85 LGIP 0.00 0.00 23,501.85 0.00 23,501.85 0.00 23,501.85 Total for Crime Control District 0.00 General Operating LNSTCRP LoneStar Corp O/N 0.00 6,946.39 0.00 0.00 6,946.39 6,946.39 LGIP 0.00 LNSTGOV LoneStar Gov O/N 0.00 15,515.42 0.00 0.00 15,515.42 15,515.42 LGIP 0.00 TEXPOOL TexPool 0.00 160,533.98 0.00 0.00 160,533.98 160,533.98 LGIP 0.00 TEXSTAR TexSTAR 0.00 131,772.50 0.00 0.00 131,772.50 131,772.50 LGIP 0.00 TXCLASS Texas CLASS 0.00 33,420.52 0.00 0.00 33,420.52 33,420.52 LGIP 0.00 3130ADF23 FHLB 1.750 01/18/19 0.00 4,503.19 39,618.06 0.00 4,131.94 43,750.00 AGCY BULET 371.25 3130A7R72 FHLB 1.250 04/29/19 0.00 16,048.35 10,763.89 26,388.89 15,625.00 0.00 AGCY CALL 423.35 912828R85 U.S. Treasury 0.875 06/15/19 0.00 28,406.61 2,043.27 12,860.58 10,817.31 0.00 TREAS NOTE 17,589.30 3133EGJX4 FFCB 1.080 07/05/19 0.00 8,418.72 15,840.00 7,740.00 8,100.00 16,200.00 AGCY CALL 318.72 3130ABZX7 FHLB 1.410 08/07/19 0.00 17,594.10 28,200.00 10,575.00 17,625.00 35,250.00 AGCY BULET (30.90) 3135G0R39 FNMA 1.000 10/24/19 0.00 30,950.05 9,305.56 21,805.56 12,500.00 0.00 AGCY BULET 18,450.05 0.00 454,109.83 79,370.03 416,988.06 105,770.78 443,388.81 Total for General Operating 37,121.77 Parks Development Corporation TEXPOOL TexPool 0.00 86,571.89 0.00 0.00 86,571.89 86,571.89 LGIP 0.00 TEXSTAR TexSTAR 0.00 24,631.52 0.00 0.00 24,631.52 24,631.52 LGIP 0.00 0.00 111,203.41 0.00 111,203.41 0.00 111,203.41 Total for Parks Development Corporation 0.00 0.00 721,780.01 105,770.78 79,370.03 684,658.24 711,058.99 Total for City of Southlake 37,121.77 Print Time: 11:34 amPrint Date: 4/23/2019 Page 1 of 1 Page 9 of 14 Investment Transactions CUSIP Price Total AmountSecurity Description From 01/01/2019 to 03/31/2019 Security Type Coupon Mty Date Call Date Trade Date Settle Date Par Value City of Southlake Realized Gain / Loss YTM YTW Principal Amount Int Purchased / Received General Operating Maturities 100.00001/18/19 1.750FHLBAGCY BULET3130ADF2301/18/1901/18/19 5,000,000.00 5,000,000.00 1.909 0.00 5,000,000.00 5,000,000.00 5,000,000.00 Total for: Maturities 1.909 5,000,000.00 0.00 Income Payments 07/05/19 1.080FFCBAGCY CALL3133EGJX401/05/1901/07/19 16,200.00 16,200.00 0.00 01/18/19 1.750FHLBAGCY BULET3130ADF2301/18/1901/18/19 43,750.00 43,750.00 0.00 08/07/19 1.410FHLBAGCY BULET3130ABZX702/07/1902/07/19 35,250.00 35,250.00 0.00 95,200.00 Total for: Income Payments 0.00 95,200.00 Page 1 of 2Print Date: 4/23/2019 Print Time: 11:34 am Page 10 of 14 Investment Transactions CUSIP Price Total AmountSecurity Description From 01/01/2019 to 03/31/2019 Security Type Coupon Mty Date Call Date Trade Date Settle Date Par Value City of Southlake Realized Gain / Loss YTM YTW Principal Amount Int Purchased / Received YTWYTMRealized G/LTotal AmountQuantityTransaction Type 5,000,000.00 5,000,000.00Total Maturities 1.909 95,200.00 0.00Total Income Payments Total for All Portfolios Page 2 of 2Print Date: 4/23/2019 Print Time: 11:34 am Page 11 of 14 CUSIP Amortization and Accretion From 12/31/2018 to 03/31/2019 Purchase QtySettle Date Orig Price Original Cost Amrt/Accr for Period Total Amrt/Accr Since Purch Remaining Disc / Prem Book ValueNext Call Date City of Southlake Security DescriptionSecurity Type General Operating 3130ADF23 0.00 371.25 0.00 0.00 0.0001/29/18 99.848 0.00FHLB 1.750 01/18/19AGCY BULET 3130A7R72 4,995,000.00 423.35 4,868.30 131.70 5,000,000.0004/29/16 99.900 4,999,868.30FHLB 1.250 04/29/19AGCY CALL 912828R85 4,927,148.44 17,589.30 58,193.81 14,657.75 5,000,000.0006/04/18 98.543 4,985,342.25U.S. Treasury 0.875 06/15/19TREAS NOTE 3133EGJX4 2,996,250.00 318.72 3,417.06 332.94 3,000,000.0007/12/16 99.875 2,999,667.06FFCB 1.080 07/05/19AGCY CALL 3130ABZX7 5,000,230.00 (30.90)(186.60)(43.40) 5,000,000.0008/23/17 100.005 5,000,043.40FHLB 1.410 08/07/19AGCY BULET 3135G0R39 4,905,800.00 18,450.05 52,121.05 42,078.95 5,000,000.0007/16/18 98.116 4,957,921.05FNMA 1.000 10/24/19AGCY BULET 37,121.77 22,824,428.44Total for General Operating 118,413.62 57,157.94 23,000,000.00 22,942,842.06 22,824,428.44 37,121.77 Total for City of Southlake 118,413.62 57,157.94 23,000,000.00 22,942,842.06 0.00 0 Print Date: 4/23/2019 Print Time: 11:34 am Page 1 of 1 Page 12 of 14 CUSIP Pay Date Interest City of Southlake Projected Cash Flows Total AmountSecurity Type Cash Flows for next 180 days from 03/31/2019 Security Description Principal General Operating 25,000.00 25,000.003135G0R39AGCY BULET FNMA 1.000 10/24/19 04/24/19 0.00 31,250.00 5,031,250.003130A7R72AGCY CALL FHLB 1.250 04/29/19 04/29/19 5,000,000.00 21,875.00 5,021,875.00912828R85TREAS NOTE U.S. Treasury 0.875 06/15/19 06/15/19 5,000,000.00 16,200.00 3,016,200.003133EGJX4AGCY CALL FFCB 1.080 07/05/19 07/05/19 3,000,000.00 35,250.00 5,035,250.003130ABZX7AGCY BULET FHLB 1.410 08/07/19 08/07/19 5,000,000.00 18,129,575.00Total for General Operating 129,575.00 18,000,000.00 Page 1 of 2Print Date: 4/23/2019 Print Time: 11:34 am Page 13 of 14 CUSIP Pay Date Interest City of Southlake Projected Cash Flows Total AmountSecurity Type Cash Flows for next 180 days from 03/31/2019 Security Description Principal 56,250.00 5,056,250.00April 2019 5,000,000.00 21,875.00 5,021,875.00June 2019 5,000,000.00 16,200.00 3,016,200.00July 2019 3,000,000.00 35,250.00 5,035,250.00August 2019 5,000,000.00 129,575.00 18,129,575.00Total Projected Cash Flows for City of Southlake 18,000,000.00 Total for All Portfolios Page 2 of 2Print Date: 4/23/2019 Print Time: 11:34 am Page 14 of 14