Item 3B2 Financial ReportCity of Southlake Monthly Financial Report 1 5/15/2019
Reference
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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