Item 3B2 Financial ReportReference
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GENERAL FUND
PositiveGeneral Fund Exp. Vs. Rev.
Sales Tax Revenue (2 months prior activity)
Property Tax Revenue
Positive
Positive Negative
Positive
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.
PERFORMANCE AT A GLANCE
Year to Date 3 year Trend
Negative
MONTHLY FINANCIAL REPORT
September 2019
= Negative Variance of > 4% compared to seasonal trends.
Warning
City of Southlake Monthly Financial Report 1 10/9/2019
National GDP:
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY2.00%
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 "third"
estimated GDP for the 2nd quarter of 2019
increased at a rate of 2.0%. In the 1st quarter of
2019, GDP increased at a rate of 3.1%.
The National Unemployment rate for September
2019 decreased to 3.5% when compared to 3.7%
in August 2019.
National:
5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES
Housing Starts:
Housing starts in August 2019 were at a
seasonally adjusted rate of 1,364,000, which is
12.3% above the revised July figure of 1,215,000
and 6.6% above the same month last year.
12.3%
UNEMPLOYMENT RATES
3.5%
The Dallas/Fort Worth/Arlington Metropolitan Area
unemployment rate for August 2019 decreased to
3.3% (preliminary) when compared to 3.4% in July
2019.
3.3%
State-wide:3.4%
The Texas Unemployment rate for August 2019
remained unchanged at 3.4%(preliminary) when
compared to July 2019.
DFW Area:
$-
$50,000,000
$100,000,000
$150,000,000
$200,000,000
$250,000,000
$300,000,000
$350,000,000
$400,000,000
$450,000,000
$500,000,000
2015*2016*2017*2018*2019*
Construction permit values*October-September
City of Southlake Monthly Financial Report 2 10/9/2019
FY 2019
REVENUE
FY 2019
EXPENDITURE VARIANCE
Oct 1,961,498$ 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$ 3,504,128$ (1,583,160)$
Apr 1,984,450$ 2,792,483$ (808,033)$
May 2,861,030$ 3,286,854$ (425,824)$
Jun 2,109,311$ 2,715,569$ (606,258)$
Jul 941,806$ 2,983,152$ (2,041,346)$
Aug 1,607,105$ 4,365,628$ (2,758,523)$
Sep 1,890,055$ 2,558,779$ (668,724)$
Tot 47,584,261$ 37,233,471$ 10,350,790$
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 1,294,023$ 1,096,365$ 1,195,811$
May 1,295,321$ 1,363,921$ 1,185,530$
Jun 1,274,338$ 1,292,089$ 1,243,537$
Jul 1,179,145$ 1,206,050$ 1,155,660$
Aug 1,265,360$ 1,262,402$
Sep $1,227,621 1,318,543$
Tot 12,496,112$ 15,124,646$ 14,876,208$
CHART OUTLOOK:
The outlook for the year is positive as revenues are outpacing expenditures by $10.3M.There are year end expenditures (accurals)that will post over the next several weeks as we close the fiscal year financials.At
the end of the fiscal year, the excess revenue is transferred to the Strategic Initiative Fund and will assist with funding the approved Capital Improvement Plan and other approved initiatives.
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. YTD the FY 2019 collections are 1.63% above FY 2017 and 1.07% below FY 2018 collections. Staff will continue to closely monitor collections.
Warning
GENERAL FUND REVENUE VS EXPENDITURES 2019
OVERALL FUND PERFORMANCE:
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2019-2017 COMPARISON
CHART OUTLOOK:
GENERAL FUND
$-
$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
$14,000,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2019 REVENUE FY 2019 EXPENDITURE 2018 EXPEND.
City of Southlake Monthly Financial Report 3 10/9/2019
FY 2019 FY 2018 FY 2017
Oct 1,151,812$ 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 312,620$ 426,191$ -$
Jul *(1,295,201)$ (1,431,282)$ (614,593)$
Aug 59,318$ -$ 44,839$
Sep 32,960$ 70,888$ 15,952$
Tot 26,134,489$ 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 601,621$ 98,364$ 153,442$
Jun 111,503$ 162,515$ 243,119$
Jul 163,760$ 168,508$ 108,137$
Aug 155,328$ 185,552$ 114,751$
Sep 478,770$ 223,441$ 154,374$
Tot 2,374,144$ 1,878,976$ 1,665,507$
Warning
2019 YTD property tax collections ($26,134,489)are approximately 7.5%higher than 2018 YTD ($24,295,125)as of September.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 ($219.6M+)issued for FY 2019 YTD is approximately 45.6%and 34.90%above when compared to FY 2018 and FY 2017 respectively.Until May,FY 2019 permit values were
trending approximately 20% below FY 2018 and 2017 the noted change is specifically due to two new construction permits issued in early May 2019.
PERMIT REVENUE 2018-2016 COMPARISON
CHART OUTLOOK:
GENERAL FUND
REVENUE ANALYSIS (continued)
PROPERTY TAX 3 YEAR TREND
CHART OUTLOOK:
$(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
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2019 FY 2018 FY 2017
City of Southlake Monthly Financial Report 4 10/9/2019
FY 2019 YTD
(SEPTEMBER)
FY 2018 YTD
(SEPTEMBER)
AMENDED
FY 2019 BUDGET FY 2019 % SPENT
956,919$ 905,284$ 988,032$ 96.85%
410,732$ 395,077$ 454,187$ 90.43%
5,473,618$ 5,619,883$ 5,846,588$ 93.62%
444,958$ 437,009$ 529,124$ 84.09%
17,168,186$ 16,814,820$ 17,924,833$ 95.78%
126,733$ 146,457$ 140,054$ 90.49%
2,274,780$ 2,154,177$ 2,452,586$ 92.75%
759,878$ 730,057$ 853,526$ 89.03%
2,101,662$ 1,760,754$ 2,137,092$ 98.34%
2,076,418$ 2,086,271$ 2,282,733$ 90.96%
4,261,980$ 4,391,882$ 4,846,427$ 87.94%
1,213,107$ 1,229,914$ 1,429,226$ 84.88%
37,268,971$ 36,671,585$ 39,884,408$ 93.44%2,615,437$
CHART OUTLOOK:
216,119$
584,447$
(29,821)$
206,315$ PDS
BUDGET VARIANCE
31,113$
372,970$
9,853$
129,902$
16,807$
(597,386)$
As indicated on the chart the 2019 expenditures are comparable to 2018 expenditures for the same period with an increase of 1.63%primarily due to approved pay plan adjustments.There are year end
expenditures (accurals) that will post over the next several weeks as we close the fiscal year financials. The outlook is positive expenditures are on pace to be below budgeted expenditures for the fiscal year.
FY 2018/2019 YTD
VARIANCE
(51,635)$
146,265$
(7,949)$
(353,366)$
19,724$
(120,603)$
SS
Totals
PW
CMO
CS
COMM
(340,908)$
84,166$
756,647$
13,321$
177,806$
93,648$
35,430$
CSO
DPS
ED
FIN
HR
IT
DEPARTMENTAL EXPENDITURES SUMMARY
(15,655)$ 43,455$
EXPENDITURE ANALYSIS
POSITIVE
$-
$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 (SEPTEMBER)FY 2018 YTD (SEPTEMBER)AMENDED FY 2019 BUDGET
City of Southlake Monthly Financial Report 5 10/9/2019
The Marq Financial Highlights
September 24, 2019
As of September 24, 2019
2018 and 2019 Comparison
300
742
218
FY 2019 Events = 1,260
354
837
206
FY 2018 Events = 1,397
Private Events Senior Programs City/Community Events
October -August
Senior Center Membership
75%
25%
Total Membership = 894
Residents (674)
Non-Residents (220)
Senior Center Program Attendance as August 31, 2019
1,384
159
2,276
86 134
1,845
5,236
201
786
119 127
1,476
-
800
1,600
2,400
3,200
4,000
4,800
5,600
6,400
7,200
Fitness Wellness Social Educational Trips MMOW *
Resident
Non-
Resident
* -As of August 31, 2019
Questions?