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Item 3A - Financial ReportReference Page 3 Page 3 Page 4 Page 4 Page 5 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. Year to Date 3 year Trend MONTHLY FINANCIAL REPORT September 2019 - V2 = Negative Variance of > 4% compared to seasonal trends. Warning Negative PERFORMANCE AT A GLANCE City of Southlake Monthly Financial Report 1 11/13/2019 National GDP: Housing Starts: Housing starts in September 2019 were at a seasonally adjusted rate of 1,256,000, which is 9.4% below the revised August figure of 1,386,000 but 1.6% above the same month last year. -9.4% UNEMPLOYMENT RATES 3.6% The Dallas/Fort Worth/Arlington Metropolitan Area unemployment rate for September 2019 decreased to 3.1% (preliminary) when compared to 3.3% in August 2019. 3.1% State-wide:3.4% The Texas Unemployment rate for September 2019 remained unchanged at 3.4%(preliminary) when compared to August 2019. DFW Area: The National Unemployment rate for October 2019 increased to 3.6% when compared to 3.5% in September 2019 but below October 2018 rate of 3.8%. National: ECONOMIC INDICATORS NATIONAL ECONOMY FINANCIAL ACTIVITY1.90% 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 3rd quarter of 2019 increased at a rate of 1.9%. In the 2nd quarter of 2019, GDP increased at a rate of 2.0%. 5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES $- $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 $500,000,000 2015*2016*2017*2018*2019* Construction permit values*October-September City of Southlake Monthly Financial Report 2 11/13/2019 FY 2019 REVENUE FY 2019 EXPENDITURES VARIANCE Oct 1,961,498$ 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 1,344,868$ 1,265,360$ 1,262,402$ Sep 1,354,327$ $1,227,621 1,318,543$ Tot 15,195,307$ 15,124,646$ 14,876,208$ * Net transfer of TIF revenues to TIF fund 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 couple of 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. FY 2019 sales tax collections ended the year relatively flat when comprared to the two previous years. 2019 collections were .05% and 2.1% above FY 2018 and 2017, respectively. GENERAL FUND REVENUE VS EXPENDITURES 2019 OVERALL FUND PERFORMANCE: REVENUE ANALYSIS GENERAL FUND SALES TAX 2019-2017 COMPARISON CHART OUTLOOK: GENERAL FUND CHART OUTLOOK: 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 $14,000,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul *Aug Sep FY 2019 REVENUE FY 2019 EXPENDITURES 2018 EXPEND. City of Southlake Monthly Financial Report 3 11/13/2019 FY 2019 FY 2018 FY 2017 Oct 1,151,812$ 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 46,464$ 137,747$ 15,952$ Tot 26,147,993$ 24,361,984$ 22,913,591$ POSITIVE FY 2019 FY 2018 FY 2017 Oct 85,534$ 126,131$ 88,905$ Nov 75,588$ 145,755$ 126,508$ Dec 160,859$ 87,701$ 140,123$ Jan 121,526$ 126,075$ 127,286$ Feb 121,533$ 199,087$ 75,535$ Mar 186,152$ 229,059$ 170,241$ Apr 111,970$ 126,788$ 223,875$ May 601,621$ 98,364$ 180,287$ Jun 111,503$ 162,515$ 260,479$ Jul 163,760$ 168,508$ 122,087$ Aug 155,328$ 185,552$ 127,807$ Sep 474,884$ 223,441$ 170,209$ Tot 2,370,258$ 1,878,976$ 1,813,342$ Warning 2019 YTD property tax collections ($26,147,993) are approximately 6.8% higher than 2018 YTD ($24,361,984) 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 and September of FY 2019. PERMIT REVENUE 2019-2017 COMPARISON CHART OUTLOOK: REVENUE ANALYSIS (continued) PROPERTY TAX 3 YEAR TREND CHART OUTLOOK: GENERAL FUND $(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 $700,000 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep FY 2019 FY 2018 FY 2017 City of Southlake Monthly Financial Report 4 11/13/2019 FY 2019 YTD (SEPTEMBER) FY 2018 YTD (SEPTEMBER) AMENDED FY 2019 BUDGET B U D FY 2019 % SPENT 981,753$ 928,505$ 988,032$ 99.36% 423,894$ 406,178$ 454,187$ 93.33% 5,648,788$ 5,750,942$ 5,846,588$ 96.62% 462,850$ 451,991$ 529,124$ 87.47% 17,597,622$ 16,966,186$ 17,924,833$ 98.17% 139,722$ 148,658$ 140,054$ 99.76% 2,346,133$ 2,205,429$ 2,452,586$ 95.66% 790,768$ 762,203$ 853,526$ 92.65% 2,094,823$ 1,853,510$ 2,137,092$ 98.02% 2,136,364$ 2,129,918$ 2,282,733$ 93.59% 4,504,358$ 4,648,921$ 4,846,427$ 92.94% 1,315,391$ 1,309,377$ 1,429,226$ 92.04% 38,442,466$ 37,561,818$ 39,884,408$ 96.38%1,441,942$ CHART OUTLOOK: 113,835$ 342,069$ (28,565)$ 146,369$ PDS BUDGET VARIANCE 6,279$ 197,800$ (6,446)$ 144,563$ (6,014)$ (880,648)$ As indicated on the chart the 2019 expenditures are comparable to 2018 expenditures for the same period with an increase of 2.3%primarily due to approved pay plan adjustments.There are year end expenditures (accurals) that will post over the next couple of 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 (53,248)$ 102,154$ (10,859)$ (631,436)$ 8,936$ (140,704)$ SS Totals PW CMO CS (241,313)$ 66,274$ 327,211$ 332$ 106,453$ 62,758$ 42,269$ CSO DPS ED FIN HR IT DEPARTMENTAL EXPENDITURES SUMMARY (17,716)$ 30,293$ COMM 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 11/13/2019 City of Southlake Investment Portfolio Summary September 30, 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 - SEPTEMBER 2019: Conditions on the trade front improved in early September as friendlier rhetoric and an announcement that talks would resume in October once again stoked optimism that a deal might be reached. Outside of manufacturing, the economic data released in early September was generally better than expected. The ISM manufacturing index for August slipped to 49.1, below the breakeven 50 level and signaling contraction in the manufacturing sector. The ISM non-manufacturing index, however, improved during August, climbing from 53.7 to 56.4, an indication that the economy’s service sector is better insulated from the effects of the trade war and remains healthy. The August employment report headline was weak, but underlying details were better. Nonfarm payrolls grew by just +130k, with 25k of those jobs being temporary government 2020 census workers. When combined with prior period downward revisions, the three-month average sunk to +156k. Offsetting that weakness was a slight decline in the unemployment rate, which dropped from 3.71% to 3.69%, and news that the labor force participation rate rose from 63.0% to 63.2%, matching a six-year high. The tight labor market appears to be nudging wages higher as average hourly earnings rose +0.4%, the fourth straight month of solid wage gains. Inflation readings firmed during the month with both the producer and consumer price indexes topping forecasts. The core Consumer Price Index (CPI), which excludes food and energy prices, climbed +0.3% for the third straight month in August, pushing the year-over-year core rate up from +2.2% to +2.4%, the highest in 11 years. August retail sales rose by +0.4%, doubling the forecasted percentage gain. Although seven of the 13 major categories declined, strong auto sales, building materials and online spending more than made up the difference. Lower mortgage rates are supporting improvement in housing with existing home sales advancing +1.3% and new home sales surging +7.1% in August. Housing starts, building permits and builder sentiment all showed improvement. With such a string of positive data it’s reasonable to question the prevailing notion that conditions are deteriorating. The answer is that job growth is slowing and manufacturing is clearly contracting. Although manufacturing makes up a relatively small portion of the economy, it is a reliable leading indicator, closely correlated with GDP growth and an important driver of both domestic and international economic activity. It was also a prime reason why the Federal Reserve opted to lower the target overnight fed funds rate another 25 basis points to a range of 1.75%-2.00% in mid-September and appears likely to cut at least once more before the year is over. Bond markets were quite volatile through the month. The two-year Treasury note traded in a wide range, hitting a low of 1.43% on September 4th in the wake of the weak ISM, climbing to 1.80% by September 13th on better data and trade optimism, and then skidding to close the month at 1.62% following negative trade headlines, geopolitical concerns surrounding Iran and Brexit, the strike at General Motors, and the impeachment inquiry announcement. Page 2 of 16 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. September 30, 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 16 Sharen Jackson Mary Morgan Executive Summary As of 09/30/19 City of Southlake 162,235,497.34 162,144,111.41 162,335,586.24 91,385.93 Unrealized Gain /(Loss) Par Value Book Value Beginning Values as of 06/30/19 Market Value Market Value % 100.06% Weighted Avg. YTW Weighted Avg. YTM 2.333% 2.333% Account Summary Ending Values as of 09/30/19 162,420,462.75 162,323,074.14 162,466,097.37 97,388.61 100.06% 2.195% 2.195% Allocation by Security Type AGCY BULLET 14% AGCY CALL 6% CP 12% LGIP 65% TREASURY 3% Total:100% TEXPOOL 39% TEXSTAR 21% FNMA 10% FHLB 7% TXCLASS 3% FFCB 3% Other Issuers 17% Total:100% Allocation by Issuer 0% 10% 20% 30% 40% 50% 60% 70% Overnight 2 - 90 Days 91 - 180 Days 6 - 12 Months 1 - 2 Years 65% 12% 5% 14% 3% Maturity Distribution % Weighted Average Days to Maturity: 66 A-1+12% AAA 88% Total:100% Credit Quality Page 1 of 1Print Date: 10/22/2019 Print Time: 8:36 am Page 4 of 16 As of 09/30/2019 Benchmark Comparison City of Southlake 0.00% 0.40% 0.80% 1.20% 1.60% 2.00% 2.40% 2.80% Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-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: 8:37 amPrint Date: 10/22/2019 Page 5 of 16 Mty DateCUSIPSec. Description CPN Par Value Orig Cost Book Value Market Value Detail of Security Holdings As of 09/30/2019 Sec. Type Mkt Price Days to Mty Days to CallNext Call City of Southlake YTM Settle Date YTWCall Type Purch Price Crime Control District 4,155,229.51 4,155,229.51 4,155,229.51 4,155,229.51TEXSTARTexSTAR 1LGIP 100.000 100.000 2.107 2.107 4,155,229.51 4,155,229.51 4,155,229.51 4,155,229.51 1Total for Crime Control District 100.000 100.000 2.107 2.107 General Operating 1,103,925.25 1,103,925.25 1,103,925.25 1,103,925.25LNSTCRPLoneStar Corp O/N 1LGIP 100.000 100.000 2.220 2.220 2,659,009.96 2,659,009.96 2,659,009.96 2,659,009.96LNSTGOVLoneStar Gov O/N 1LGIP 100.000 100.000 2.100 2.100 63,384,134.08 63,384,134.08 63,384,134.08 63,384,134.08TEXPOOLTexPool 1LGIP 100.000 100.000 2.163 2.163 25,091,859.75 25,091,859.75 25,091,859.75 25,091,859.75TEXSTARTexSTAR 1LGIP 100.000 100.000 2.107 2.107 5,248,331.18 5,248,331.18 5,248,331.18 5,248,331.18TXCLASSTexas CLASS 1LGIP 100.000 100.000 2.200 2.200 5,000,000.00 4,905,800.00 4,995,225.70 4,996,978.0007/16/18 2.513 2.513FNMA3135G0R39AGCY BULET 1.000 10/24/19 98.116 99.940 24 5,000,000.00 5,000,000.00 5,000,000.00 4,999,750.0006/14/19 2.350 2.350TX A&M Univ88213M5E5CP - INT 2.350 11/05/19 100.000 99.995 36 5,000,000.00 4,966,402.78 4,981,493.05 4,981,520.0008/09/19 2.064 2.064Toyota Mtr Cr89233HZ56CP - DISC 12/05/19 99.328 99.630 66 5,000,000.00 5,000,000.00 5,000,000.00 4,998,437.5009/17/19 2.020 2.020State of CA13068CDV4CP - INT 2.020 12/12/19 100.000 99.969 73 2,000,000.00 1,961,884.44 1,984,640.00 1,987,937.4004/24/19 2.610 2.610J.P.Morgan Sec46640PAH6CP - DISC 01/17/20 98.094 99.397 109 6,000,000.00 5,969,700.00 5,984,618.10 6,000,262.8004/23/19 2.452 2.452FHLB313378J77AGCY BULET 1.875 03/13/20 99.495 100.004 165 5,000,000.00 4,999,250.00 4,999,503.20 5,015,818.0005/31/19 2.325 2.325FFCB3133EKMP8AGCY BULET 2.310 05/28/20 99.985 100.316 241 2,350,000.00 2,350,000.00 2,350,000.00 2,347,796.8809/17/19 1.980 1.980Univ of NC09657TGJ6CP - INT 1.980 06/11/20 100.000 99.906 255 6,000,000.00 5,934,660.00 5,959,161.42 5,984,149.8004/23/19 2.454 2.454FNMA3135G0D75AGCY BULET 1.500 06/22/20 98.911 99.736 266 5,000,000.00 4,965,625.00 4,975,576.10 4,995,179.5005/31/19 2.360 2.360FNMA3136G4PC1AGCY CALL 10/24/2019 1.750 07/24/20 QRTLY 99.313 99.904 298 24 5,000,000.00 5,000,000.00 5,000,000.00 5,000,051.0008/07/19 2.125 2.125FHLB3130AGV51AGCY CALL 11/6/2019 2.125 08/06/20 QRTLY 100.000 100.001 311 37 5,000,000.00 4,969,921.88 4,976,759.20 4,996,484.5005/31/19 2.172 2.172U.S. Treasury9128283G3TREAS NOTE 1.750 11/15/20 99.398 99.930 412 153,837,260.22 153,510,504.32 153,694,236.99 153,791,625.60 70Total for General Operating 99.788 99.971 2.200 2.200 Parks Development Corporation 4,473,607.64 4,473,607.64 4,473,607.64 4,473,607.64TEXSTARTexSTAR 1LGIP 100.000 100.000 2.107 2.107 4,473,607.64 4,473,607.64 4,473,607.64 4,473,607.64 1Total for Parks Development Corporation 100.000 100.000 2.107 2.107 Print Date: 10/22/2019 Print Time: 8:38 am Page 1 of 2 Page 6 of 16 Mty DateCUSIPSec. Description CPN Par Value Orig Cost Book Value Market Value Detail of Security Holdings As of 09/30/2019 Sec. Type Mkt Price Days to Mty Days to CallNext Call City of Southlake YTM Settle Date YTWCall Type Purch Price 162,466,097.37 162,139,341.47 162,323,074.14 162,420,462.75 66Total for City of Southlake 99.800 99.972 2.195 2.195 0 Print Date: 10/22/2019 Print Time: 8:38 am Page 2 of 2 Page 7 of 16 CUSIP Change in Value From 06/30/2019 to 09/30/2019 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 06/30/19 09/30/19 09/30/1906/30/19Security Type Security Description Community Enhancement Dev Corp TEXPOOL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 LGIP 0.00 TexPool 0.00 0.00 Total for Community Enhancement Dev Corp 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Crime Control District TEXSTAR 0.00 4,155,229.51 4,132,191.07 4,155,229.51 4,132,191.07 23,038.44 0.00 0.00 LGIP 23,038.44 TexSTAR 4,155,229.51 0.00 Total for Crime Control District 4,132,191.07 4,155,229.51 4,132,191.07 23,038.44 0.00 0.00 23,038.44 General Operating LNSTCRP 0.00 1,103,925.25 1,097,487.95 1,103,925.25 1,097,487.95 6,437.30 0.00 0.00 LGIP 6,437.30 LoneStar Corp O/N LNSTGOV 0.00 2,659,009.96 2,644,242.10 2,659,009.96 2,644,242.10 14,767.86 0.00 0.00 LGIP 14,767.86 LoneStar Gov O/N TEXPOOL 0.00 63,384,134.08 67,842,137.69 63,384,134.08 67,842,137.69 1,959,678.98 0.00 (6,417,682.59)LGIP (4,458,003.61)TexPool TEXSTAR 0.00 25,091,859.75 24,952,739.35 25,091,859.75 24,952,739.35 139,120.40 0.00 0.00 LGIP 139,120.40 TexSTAR TXCLASS 0.00 5,248,331.18 5,217,984.09 5,248,331.18 5,217,984.09 30,347.09 0.00 0.00 LGIP 30,347.09 Texas CLASS 3133EGJX4 0.00 0.00 2,999,632.20 0.00 2,999,985.84 0.00 14.16 (3,000,000.00)AGCY CALL (2,999,632.20)FFCB 1.080 07/05/19 3130ABZX7 0.00 0.00 4,995,795.00 0.00 5,000,012.40 0.00 (12.40)(5,000,000.00)AGCY BULET (4,995,795.00)FHLB 1.410 08/07/19 13068CDR3 0.00 0.00 5,000,400.00 0.00 5,000,000.00 0.00 0.00 (5,000,000.00)CP - INT (5,000,400.00)State of CA 2.350 09/16/19 3135G0R39 0.00 4,995,225.70 4,981,573.00 4,996,978.00 4,976,543.75 0.00 18,681.95 0.00 AGCY BULET 15,405.00 FNMA 1.000 10/24/19 88213M5E5 0.00 5,000,000.00 4,999,100.00 4,999,750.00 5,000,000.00 0.00 0.00 0.00 CP - INT 650.00 TX A&M Univ 2.350 11/05/19 89233HZ56 0.00 4,981,493.05 0.00 4,981,520.00 0.00 4,966,402.78 15,090.27 0.00 CP - DISC 4,981,520.00 Toyota Mtr Cr 0.000 12/05/19 13068CDV4 0.00 5,000,000.00 0.00 4,998,437.50 0.00 5,000,000.00 0.00 0.00 CP - INT 4,998,437.50 State of CA 2.020 12/12/19 46640PAH6 0.00 1,984,640.00 1,974,940.80 1,987,937.40 1,971,555.56 0.00 13,084.44 0.00 CP - DISC 12,996.60 J.P.Morgan Sec 0.000 01/17/20 313378J77 0.00 5,984,618.10 5,991,707.40 6,000,262.80 5,976,115.80 0.00 8,502.30 0.00 AGCY BULET 8,555.40 FHLB 1.875 03/13/20 3133EKMP8 0.00 4,999,503.20 5,010,483.50 5,015,818.00 4,999,314.85 0.00 188.35 0.00 AGCY BULET 5,334.50 FFCB 2.310 05/28/20 09657TGJ6 0.00 2,350,000.00 0.00 2,347,796.88 0.00 2,350,000.00 0.00 0.00 CP - INT 2,347,796.88 Univ of NC 1.980 06/11/20 3135G0D75 0.00 5,959,161.42 5,971,264.20 5,984,149.80 5,945,197.32 0.00 13,964.10 0.00 AGCY BULET 12,885.60 FNMA 1.500 06/22/20 3136G4PC1 0.00 4,975,576.10 4,983,023.00 4,995,179.50 4,968,154.55 0.00 7,421.55 0.00 AGCY CALL 12,156.50 FNMA 1.750 07/24/20 3130AGV51 0.00 5,000,000.00 0.00 5,000,051.00 0.00 5,000,000.00 0.00 0.00 AGCY CALL 5,000,051.00 FHLB 2.125 08/06/20 9128283G3 0.00 4,976,759.20 4,991,992.00 4,996,484.50 4,971,645.10 0.00 5,114.10 0.00 TREAS NOTE 4,492.50 U.S. Treasury 1.750 11/15/20 153,694,236.99 0.00 Total for General Operating 153,654,502.28 153,791,625.60 153,563,116.35 19,466,754.41 (19,417,682.59) 82,048.82 137,123.32 Print Date: 10/22/2019 Print Time: 8:38 am Page 1 of 2 Page 8 of 16 CUSIP Change in Value From 06/30/2019 to 09/30/2019 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 06/30/19 09/30/19 09/30/1906/30/19Security Type Security Description Parks Development Corporation TEXPOOL 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 LGIP 0.00 TexPool TEXSTAR 0.00 4,473,607.64 4,448,803.99 4,473,607.64 4,448,803.99 24,803.65 0.00 0.00 LGIP 24,803.65 TexSTAR 4,473,607.64 0.00 Total for Parks Development Corporation 4,448,803.99 4,473,607.64 4,448,803.99 24,803.65 0.00 0.00 24,803.65 0.00 162,323,074.14 Total for City of Southlake 162,235,497.34 162,420,462.75 162,144,111.41 19,514,596.50 (19,417,682.59) 82,048.82 184,965.41 Print Date: 10/22/2019 Print Time: 8:38 am Page 2 of 2 Page 9 of 16 From 06/30/2019 to 09/30/2019 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 0.00 0.00 0.00 0.00 0.00 0.00 Total for Community Enhancement Dev Corp 0.00 Crime Control District TEXSTAR TexSTAR 0.00 23,038.44 0.00 0.00 23,038.44 23,038.44 LGIP 0.00 0.00 23,038.44 0.00 23,038.44 0.00 23,038.44 Total for Crime Control District 0.00 General Operating LNSTCRP LoneStar Corp O/N 0.00 6,437.30 0.00 0.00 6,437.30 6,437.30 LGIP 0.00 LNSTGOV LoneStar Gov O/N 0.00 14,767.86 0.00 0.00 14,767.86 14,767.86 LGIP 0.00 TEXPOOL TexPool 0.00 374,274.21 0.00 0.00 374,274.21 374,274.21 LGIP 0.00 TEXSTAR TexSTAR 0.00 139,120.40 0.00 0.00 139,120.40 139,120.40 LGIP 0.00 TXCLASS Texas CLASS 0.00 30,347.09 0.00 0.00 30,347.09 30,347.09 LGIP 0.00 3133EGJX4 FFCB 1.080 07/05/19 0.00 374.16 15,840.00 0.00 360.00 16,200.00 AGCY CALL 14.16 3130ABZX7 FHLB 1.410 08/07/19 0.00 7,037.60 28,200.00 0.00 7,050.00 35,250.00 AGCY BULET (12.40) 13068CDR3 State of CA 2.350 09/16/19 0.00 24,787.67 4,184.93 0.00 24,787.67 28,972.60 CP - INT 0.00 3135G0R39 FNMA 1.000 10/24/19 0.00 31,181.95 9,305.56 21,805.56 12,500.00 0.00 AGCY BULET 18,681.95 88213M5E5 TX A&M Univ 2.350 11/05/19 0.00 29,616.44 5,472.60 35,089.04 29,616.44 0.00 CP - INT 0.00 89233HZ56 Toyota Mtr Cr 0.000 12/05/19 0.00 15,090.27 0.00 0.00 0.00 0.00 CP - DISC 15,090.27 13068CDV4 State of CA 2.020 12/12/19 (276.71) 3,873.97 0.00 4,150.68 3,873.97 0.00 CP - INT 0.00 46640PAH6 J.P.Morgan Sec 0.000 01/17/20 0.00 13,084.44 0.00 0.00 0.00 0.00 CP - DISC 13,084.44 313378J77 FHLB 1.875 03/13/20 0.00 36,627.30 33,750.00 5,625.00 28,125.00 56,250.00 AGCY BULET 8,502.30 3133EKMP8 FFCB 2.310 05/28/20 0.00 29,063.35 10,587.50 39,462.50 28,875.00 0.00 AGCY BULET 188.35 09657TGJ6 Univ of NC 1.980 06/11/20 0.00 1,809.50 0.00 1,809.50 1,809.50 0.00 CP - INT 0.00 3135G0D75 FNMA 1.500 06/22/20 0.00 36,464.10 2,250.00 24,750.00 22,500.00 0.00 AGCY BULET 13,964.10 3136G4PC1 FNMA 1.750 07/24/20 0.00 29,296.55 38,159.72 16,284.72 21,875.00 43,750.00 AGCY CALL 7,421.55 3130AGV51 FHLB 2.125 08/06/20 (295.14) 15,937.50 0.00 16,232.64 15,937.50 0.00 AGCY CALL 0.00 9128283G3 U.S. Treasury 1.750 11/15/20 0.00 26,989.10 11,175.27 33,050.27 21,875.00 0.00 TREAS NOTE 5,114.10 (571.85) 866,180.76 198,259.91 784,131.94 158,925.58 745,369.46 Total for General Operating 82,048.82 Print Time: 8:38 amPrint Date: 10/22/2019 Page 1 of 2 Page 10 of 16 From 06/30/2019 to 09/30/2019 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 Parks Development Corporation TEXSTAR TexSTAR 0.00 24,803.65 0.00 0.00 24,803.65 24,803.65 LGIP 0.00 0.00 24,803.65 0.00 24,803.65 0.00 24,803.65 Total for Parks Development Corporation 0.00 (571.85) 914,022.85 158,925.58 198,259.91 831,974.03 793,211.55 Total for City of Southlake 82,048.82 Print Time: 8:38 amPrint Date: 10/22/2019 Page 2 of 2 Page 11 of 16 Investment Transactions CUSIP Price Total AmountSecurity Description From 07/01/2019 to 09/30/2019 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 100.00007/05/19 1.080FFCBAGCY CALL3133EGJX407/05/1907/05/19 3,000,000.00 3,000,000.00 1.123 0.00 3,000,000.00 100.00008/07/19 1.410FHLBAGCY BULET3130ABZX708/07/1908/07/19 5,000,000.00 5,000,000.00 1.408 0.00 5,000,000.00 100.00009/16/19 2.350State of CACP - INT13068CDR309/16/1909/16/19 5,000,000.00 5,028,972.60 2.350 28,972.60 5,000,000.00 13,028,972.60 13,000,000.00 Total for: Maturities 1.704 13,000,000.00 28,972.60 Purchases 100.00008/06/20 2.125FHLBAGCY CALL3130AGV5108/07/1908/06/19 5,000,000.00 5,000,295.14 2.125 2.125 295.14 5,000,000.00 11/06/19 99.32812/05/19Toyota Mtr CrCP - DISC89233HZ5608/09/1908/08/19 5,000,000.00 4,966,402.78 2.064 2.064 0.00 4,966,402.78 100.00012/12/19 2.020State of CACP - INT13068CDV409/17/1909/16/19 5,000,000.00 5,000,276.71 2.020 2.020 276.71 5,000,000.00 100.00006/11/20 1.980Univ of NCCP - INT09657TGJ609/17/1909/17/19 2,350,000.00 2,350,000.00 1.980 1.980 0.00 2,350,000.00 17,316,974.63 17,350,000.00 Total for: Purchases 2.057 2.057 17,316,402.78 571.85 Income Payments 07/05/19 1.080FFCBAGCY CALL3133EGJX407/05/1907/05/19 16,200.00 16,200.00 0.00 07/24/20 1.750FNMAAGCY CALL3136G4PC107/24/1907/24/19 43,750.00 43,750.00 0.00 08/07/19 1.410FHLBAGCY BULET3130ABZX708/07/1908/07/19 35,250.00 35,250.00 0.00 03/13/20 1.875FHLBAGCY BULET313378J7709/13/1909/13/19 56,250.00 56,250.00 0.00 151,450.00 Total for: Income Payments 0.00 151,450.00 Page 1 of 2Print Date: 10/22/2019 Print Time: 8:38 am Page 12 of 16 Investment Transactions CUSIP Price Total AmountSecurity Description From 07/01/2019 to 09/30/2019 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 13,028,972.60 13,000,000.00Total Maturities 1.704 17,316,974.63 17,350,000.00Total Purchases 2.057 2.057 151,450.00 0.00Total Income Payments Total for All Portfolios Page 2 of 2Print Date: 10/22/2019 Print Time: 8:38 am Page 13 of 16 CUSIP Amortization and Accretion From 06/30/2019 to 09/30/2019 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 3133EGJX4 0.00 14.16 0.00 0.00 0.0007/12/16 99.875 0.00FFCB 1.080 07/05/19AGCY CALL 3130ABZX7 0.00 (12.40) 0.00 0.00 0.0008/23/17 100.005 0.00FHLB 1.410 08/07/19AGCY BULET 13068CDR3 0.00 0.00 0.00 0.00 0.0006/18/19 100.000 0.00State of CA 2.350 09/16/19CP - INT 3135G0R39 4,905,800.00 18,681.95 89,425.70 4,774.30 5,000,000.0007/16/18 98.116 4,995,225.70FNMA 1.000 10/24/19AGCY BULET 88213M5E5 5,000,000.00 0.00 0.00 0.00 5,000,000.0006/14/19 100.000 5,000,000.00TX A&M Univ 2.350 11/05/19CP - INT 89233HZ56 4,966,402.78 15,090.27 15,090.27 18,506.95 5,000,000.0008/09/19 99.328 4,981,493.05Toyota Mtr Cr 0.000 12/05/19CP - DISC 13068CDV4 5,000,000.00 0.00 0.00 0.00 5,000,000.0009/17/19 100.000 5,000,000.00State of CA 2.020 12/12/19CP - INT 46640PAH6 1,961,884.44 13,084.44 22,755.56 15,360.00 2,000,000.0004/24/19 98.094 1,984,640.00J.P.Morgan Sec 0.000 01/17/20CP - DISC 313378J77 5,969,700.00 8,502.30 14,918.10 15,381.90 6,000,000.0004/23/19 99.495 5,984,618.10FHLB 1.875 03/13/20AGCY BULET 3133EKMP8 4,999,250.00 188.35 253.20 496.80 5,000,000.0005/31/19 99.985 4,999,503.20FFCB 2.310 05/28/20AGCY BULET 09657TGJ6 2,350,000.00 0.00 0.00 0.00 2,350,000.0009/17/19 100.000 2,350,000.00Univ of NC 1.980 06/11/20CP - INT 3135G0D75 5,934,660.00 13,964.10 24,501.42 40,838.58 6,000,000.0004/23/19 98.911 5,959,161.42FNMA 1.500 06/22/20AGCY BULET 3136G4PC1 4,965,625.00 7,421.55 9,951.10 24,423.90 5,000,000.0005/31/19 99.313 4,975,576.10FNMA 1.750 07/24/20AGCY CALL 10/24/19 3130AGV51 5,000,000.00 0.00 0.00 0.00 5,000,000.0008/07/19 100.000 5,000,000.00FHLB 2.125 08/06/20AGCY CALL 11/06/19 9128283G3 4,969,921.88 5,114.10 6,837.32 23,240.80 5,000,000.0005/31/19 99.398 4,976,759.20U.S. Treasury 1.750 11/15/20TREAS NOTE 82,048.82 56,023,244.10Total for General Operating 183,732.67 143,023.23 56,350,000.00 56,206,976.77 56,023,244.10 82,048.82 Total for City of Southlake 183,732.67 143,023.23 56,350,000.00 56,206,976.77 0.00 0 Print Date: 10/22/2019 Print Time: 8:38 am Page 1 of 1 Page 14 of 16 CUSIP Pay Date Interest City of Southlake Projected Cash Flows Total AmountSecurity Type Cash Flows for next 180 days from 09/30/2019 Security Description Principal General Operating 25,000.00 5,025,000.003135G0R39AGCY BULET FNMA 1.000 10/24/19 10/24/19 5,000,000.00 46,356.16 5,046,356.1688213M5E5CP - INT TX A&M Univ 2.350 11/05/19 11/05/19 5,000,000.00 43,750.00 43,750.009128283G3TREAS NOTE U.S. Treasury 1.750 11/15/20 11/15/19 0.00 57,750.00 57,750.003133EKMP8AGCY BULET FFCB 2.310 05/28/20 11/28/19 0.00 0.00 5,000,000.0089233HZ56CP - DISC Toyota Mtr Cr 0.000 12/05/19 12/05/19 5,000,000.00 24,073.97 5,024,073.9713068CDV4CP - INT State of CA 2.020 12/12/19 12/12/19 5,000,000.00 45,000.00 45,000.003135G0D75AGCY BULET FNMA 1.500 06/22/20 12/22/19 0.00 0.00 2,000,000.0046640PAH6CP - DISC J.P.Morgan Sec 0.000 01/17/20 01/17/20 2,000,000.00 43,750.00 43,750.003136G4PC1AGCY CALL FNMA 1.750 07/24/20 01/24/20 0.00 53,125.00 53,125.003130AGV51AGCY CALL FHLB 2.125 08/06/20 02/06/20 0.00 56,250.00 6,056,250.00313378J77AGCY BULET FHLB 1.875 03/13/20 03/13/20 6,000,000.00 28,395,055.13Total for General Operating 395,055.13 28,000,000.00 Page 1 of 2Print Date: 10/22/2019 Print Time: 8:38 am Page 15 of 16 CUSIP Pay Date Interest City of Southlake Projected Cash Flows Total AmountSecurity Type Cash Flows for next 180 days from 09/30/2019 Security Description Principal 25,000.00 5,025,000.00October 2019 5,000,000.00 147,856.16 5,147,856.16November 2019 5,000,000.00 69,073.97 10,069,073.97December 2019 10,000,000.00 43,750.00 2,043,750.00January 2020 2,000,000.00 53,125.00 53,125.00February 2020 0.00 56,250.00 6,056,250.00March 2020 6,000,000.00 395,055.13 28,395,055.13Total Projected Cash Flows for City of Southlake 28,000,000.00 Total for All Portfolios Page 2 of 2Print Date: 10/22/2019 Print Time: 8:38 am Page 16 of 16