Item 3A - Financial ReportReference
Page 3
Page 3
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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.
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