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Item 3B2 - Financial ReportCity of Southlake Monthly Financial Report 1 2/13/2020 CITY of SOUTH LAI<..,E..... MONTHLY FINANCIAL REPORT January 2020 PERFORMANCE AT A GLANCE Year to Date 3 year Trend Reference General Fund Exp. Vs. Rev. Positive Positive Page 3 Sales Tax Revenue (2 months prior activity) Positive Warning Page 3 Property Tax Revenue Positive Positive Page 4 Permit Revenues Positive Warning Page 4 Departmental Expenditures Summary Positive Positive Page 5 Positive = Positive variance or negative variance <1 % compared to seasonal trends. Warning = Negative variance of 1-4% compared to seasonal trends Negative = Negative Variance of > 4% compared to seasonal trends. City of Southlake Monthly Financial Report 1 2/13/2020 ECONOMIC INDICATORS NATIONAL ECONOMY FINANCIAL ACTIVITY National GDP: 2.10% 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" 5 YEAR TREND OF • • $45,000,000 estimated GDP for the 4th quarter of 2019 increased at a rate of 2.1 %. In the 3rd quarter of 2019, GDP increased at a rate of 2.1 %. $40,000,000 Housing Starts: 16.9% Housing starts in December 2019 were at a $35,000,000 seasonally adjusted rate of 1,608,000, which is 16.9% above the revised previous month figure of $30,000,000 1,375,000, and 40.8% above the same month last year. $25,000,000 UNEMPLOYMENT RATES $20,000,000 National: 3.5% The National Unemployment rate for December $15,000,000 2019 remained unchanged at 3.5% when compared to November 2019. $10,000,000 State-wide: 3.5% The Texas Unemployment rate for December 2019 $5,000,000 increased to 3.5% (preliminary) from November 2019 rate of 3.4% $_ 2016* 2017* 2018* 2019* 2020* DFW Area: 2.9% The Dallas/Fort Worth/Arlington Metropolitan Area *October -January ■ Construction permit values unemployment rate for December decreased to 2.9% (preliminary) when compared to 3.0% in November 2019. City of Southlake Monthly Financial Report 2 2/13/2020 City of Southlake Monthly Financial Report 3 2/13/2020 GENERAL FUND OVERALL FUND PERFORMANCE: GENERAL FUND REVENUE VS EXPENDITURES 2020 FY 2020 FY 2020 FY 2020 REVENUE FY 2020 EXPENDITURE 2019 EXPEND. REVENUE EXPENDITURE VARIANCE Oct $ 1,228,305 $ 2,363,689 ey (1,135,384) $14,000,000 Nov $ 2,047,172 $ 3,573,571 (1,526,399) Dec $ 11,059,772 $ 3,976,687 $ 7,083,085 $12,000,000 Jan $ 12,147,820 $ 2,902,979 $ 9,244,841 Feb $ - $ _ $ _ $10,000,000 Mar $ - $ - $- Apr $ - $ $ $8,000,000 May $ - $ - $- $6,000,000 Jun $ _ $ _ $ - Jul $ - $ - $- $4,000,000 Aug $ _ $ $ _ Sep Tot $ 26,483,069 $ 12,816,926 $ $ - 13,666,143 $2,000,000 , ■ CHART OUTLOOK: POSITIVE Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep The outlook for the year is positive as overall revenues and expenditures are on target with budget. The expenditures are higher than revenues by $13.6M. The significant variance is due to the significant portion of property tax revenue collected (over 85%) of the budgeted property tax revenue which is the largest revenue source for the general fund. REVENUE ANALYSIS GENERAL FUND SALES TAX 2020-2018 COMPARISON FY 2020 FY 2019 FY 2018 FY 2020 FY 2019 FY 2018 Oct $ 1,278,635 $ 1,253,417 $ 1,214,148 $2,500,000 Nov $ 1,309,584 $ 1,140,440 $ 1,272,500 Dec $ 1,993,686 $ 1,613,337 $ 1,744,684 Jan $ - $ 1,030,047 $ 1,135,430 $2,000,000 Feb $ - $ 1,094,354 $ 1,055,400 Mar $ - $ 1,321,691 $ 1,251,079 $1,500,000 Apr $ - $ 1,294,023 $ 1,096,365 _ May $ - $ 1,295,321 $ 1,363,921 $1,000,000 - Jun $ - $ 1,274,338 $ 1,292,089 Jul $ - $ 1,179,145 $ 1,206,050 IF111 171, Aug $ 1,344,868 $ 1,265,360 $500,000 Sep $ 1,354,327 $1,227,621 Tot $ 4,581,904 $ 15,195,307 $ 15,124,646 $- Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep CHART OUTLOOK: POSITIVE FY 2020 is off to a great start, year to date sales tax collections are trending above the 2 previous years. FY 2020 collections are 14.34% and 8.29% above FY 2019 and 2018, respectively. Staff will continue to closely monitor collections. City of Southlake Monthly Financial Report 3 2/13/2020 City of Southlake Monthly Financial Report 4 2/13/2020 GENERAL FUND REVENUE ANALYSIS (continued) PROPERTY TAX 3 YEAR TREND FY 2020 FY 2019 FY 2018 ■ FY 2020 ■ FY 2019 FY 2018 Oct $ 790,236 $ 1,151,812 $ 217,086 $14,000,000 Nov $ 1,426,054 $ 1,552,708 $ 1,832,023 $12,000,000 Dec $ 9,161,119 $ 10,397,278 $ 6,601,683 $10,000,000 Jan $ 10,088,389 $ 9,985,201 $ 12,435,268 $8,000,000 Feb $ - $ 3,385,436 $ 3,744,931 Mar $ - $ 395,710 $ 196,116 $6,000,000 Apr $ - $ 156,647 $ 102,531 $4,000,000 May $ - $ - $ 99,690 $2,000,000 Jun $ - $ 312,620 $ 426,191 $- Jul * $ - $ (1,295,201) $ (1,431,282) $(2,000,000) Oct Nov Dec Jan Feb Mar Apr May Jun u Aug Aug $ - $ 59,318 $ - $(4,000,000) Sep $ - $ 46,464 $ 137,747 Tot $ 21,465,798 $ 26,147,993 $ 24,361,984 * Net transfer of TIF revenues to CHART OUTLOOK: POSITIVE TIF fund 2020 YTD property tax collections ($21,465,798) are approximately 7.0% lower than 2019 YTD ($23,086,999) as of January. As indicated on the chart, the majority of the property tax revenue is collected in the first few months of the fiscal year. PERMIT REVENUE 2020-2018 COMPARISON FY 2020 FY 2019 FY 2018 FY 2020 io FY 2019 FY 2018 Oct $ 134,067 $ 85,534 $ 126,131 $700,000 Nov $ 238,528 $ 75,588 $ 145,755 Dec $ 135,168 $ 160,859 $ 87,701 $600,000 Jan $ 204,931 $ 121,526 $ 126,075 Feb $ - $ 121,533 $ 199,087 $500,000 Mar $ - $ 186,152 $ 229,059 Apr $ - $ 111,970 $ 126,788 $400,000 May $ - $ 601,621 $ 98,364 Jun $ - $ 111,503 $ 162,515 $300,000 Jul $ - $ 163,760 $ 168,508 Aug $ - $ 155,328 $ 185,552 $200,000 Sep $ 474,884 $ 223,441 $100,000 Tot $ 712,694 $ 2,370,258 $ 1,878,976 CHART OUTLOOK: Warning Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep The value of new construction permits ($3.3M+) issued for FY 2020 YTD is approximately 8.6% and 37.5% lower when compared to FY 2019 and FY 2018 respectively. City of Southlake Monthly Financial Report 4 2/13/2020 EXPENDITURE ANALYSIS DEPARTMENTAL EXPENDITURES SUMMARY FY 2020 YTD FY 2019 YTD FY 2019/2020 YTD (JANUARY) (JANURAY) FY 2020 BUDGET VARIANCE BUDGET VARIANCE FY 2020 % SPENT CMO $ 466,626 $ 278,814 $ 1,034,611 $ (187,812) $ 567,985 45.10% COMM $ 173,280 $ 157,666 $ 486,472 $ (15,614) $ 313,192 35.62% CS $ 1,838,919 $ 1,608,352 $ 6,076,456 $ (230,567) $ 4,237,537 30.26% CSO $ 158,541 $ 143,727 $ 527,181 $ (14,814) $ 368,640 30.07% DPS $ 5,797,035 $ 5,361,079 $ 18,451,018 $ (435,956) $ 12,653,983 31.42% ED $ 49,254 $ 40,693 $ 154,872 $ (8,561) $ 105,618 31.80% FIN $ 837,180 $ 802,301 $ 2,509,163 $ (34,879) $ 1,671,983 33.36% HR $ 246,070 $ 214,832 $ 866,157 $ (31,238) $ 620,087 28.41% IT $ 702,419 $ 647,870 $ 2,858,866 $ (54,549) $ 2,156,447 24.57% PDS $ 667,959 $ 638,694 $ 2,293,889 $ (29,265) $ 1,625,930 29.12% PW $ 1,275,346 $ 1,293,487 $ 4,846,636 $ 18,141 $ 3,571,290 26.31% SS $ 619,830 $ 664,794 $ 1,781,845 $ 44,964 $ 1,162,015 34.79% Totals $ 12,832,459 $ 11,852,309 $ 41,887,166 $ (980,150) $ 29,054,707 30.64% ® FY 2020 YTD (JANUARY) FY 2019 YTD (JANURAY) FY 2020 BUDGET $20,000,000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $_ CMO COMM CS CSO DPS ED FIN HR IT PDS PW SS CHART OUTLOOK: POSITIVE As indicated on the chart the 2020 expenditures are higher when comparable to 2019 expenditures for the same period with an increase of 8.27% primarily due to approved public safety pay plan adjustments and true up of IT investments. The outlook is positive expenditures are on pace to be below budgeted expenditures for the fiscal year. City of Southlake Monthly Financial Report 5 2/13/2020 HilitopSecurities Asset Management - City of Southlake Investment Portfolio Summary CITY OF SOUTHLAKE L01 For the Quarter Ended December 31, 2019 Prepared by HilltopSecurities Asset Management J�* HilltopSecurities Asset Management, Report Name Certification Page Executive Summary Benchmark Comparison Detail of Security Holdings Change in Value Earned Income Investment Transactions Amortization and Accretion Projected Fixed Income Cash Flows MARKET RECAP - DECEMBER 2019: As December began, there were an unusually high number of potential disruptions capable of derailing an already fragile U.S. economy. The December Fed meeting and a U.K. general election, both key events, took a backseat to impending tariff escalation and the possibility of another government shutdown. But one -by -one, all the concerns eased. The December FOMC meeting matched expectations as Fed officials voted to hold monetary policy steady and signaled their intent to maintain the current 1.50% -1.75% target rate for all of 2020. The U.K. elections produced expected results with Boris Johnson's Conservative party claiming a majority in the British Parliament, which should open the door for the United Kingdom to leave the European Union in 2020. On the U.S. budget front, funding was secured early and with little drama, ensuring the Federal government will continue operating. Recalling the extreme damage caused by last year's 35 -day shutdown, both parties were more than willing to kick discussions out into 2021. The December game -changer came on the trade front as the administration announced "Phase 1" of a long anticipated trade deal with China just hours before new tariffs were set to kick in. Investors had apparently expected this painful escalation to be postponed, but the details of the agreement were more upbeat than expected and the announcement of de-escalation was welcomed relief. That relief was bolstered by news that Congress had signed -off on an amended version of the USMCA trade agreement, and representatives from Canada, Mexico and the United States promptly signed the deal. Turning our attention to the economic data, the ISM manufacturing data retained its crown as the weakest piece of data, slipping from 48.3 to 48.1 in November, a fourth straight month of contraction. ISM's non -manufacturing index fell from 54.7 to 53.9, but remains above 50, indicating continued expansion, albeit at a slower pace. The employment report surprised to the upside as a whopping +266k new jobs were added to payrolls in November, handily beating the +180k median forecast. Upward revisions to the prior two months added another +41 k to the tally, taking the monthly average for the last six months to a robust +196k. The unemployment rate dropped from 3.6% to 3.5%, matching a 50 -year low. November retail sales rose a slight +0.2%, well shy of the expected +0.5%, however, since Thanksgiving fell so late this year, the tail end of the Black Friday weekend and Cyber Monday both fell into December, suggesting that December sales could get a boost at the expense of November. Inflation remains well contained with CPI running at +2.1 % and core PCE well below the Fed's target at +1.5%. Home sales continue to be restrained by lean inventories, but gains in building permits, housing starts, and a 20 -year high in the NAHB's builder confidence index all suggest that housing will continue to benefit from a strong labor market and sub -4% mortgage rates. In the year ahead, housing could become an important counter -balance to the recent weakness we have seen in the manufacturing sector. All in all, December was a positive month with several key risks to the outlook fading, stable economic data, and interest rates holding well within recent ranges. With that backdrop, equity markets extended their rally as all of the major U.S. averages set new highs in the waning days of 2019. Page 2 of 15 J�* HilltopSecurities Asset Management_ For the Quarter Ended December 31, 2019 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 reporl 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. Officer Names and Titles: Sharen Jackson Name: Sharen Jackson Title: Chief Financial Officer Mary Morgan Name: Mary Morgan Title: Deputy Director of Finance Page 3 of 15 J�* HilltopSecurities Asset Management.. Beginning Values as of 09/30/19 Ending Values as of 12131119 Par Value 162,466,097.37 146,481,719.99 Market Value 162,420,462.75 146,491,069.29 Book Value 162,323,074.14 146,409,983.36 Unrealized Gain /(Loss) 97,388.61 81,085.93 Market Value % 100.06% 100.06% Weighted Avg. YTW 2.195% 1.805% Weighted Avg. YTM 2.195% 1.805% Print Date: 1/28/2020 Print Time: 2:27 pm ■ TEXPOOL 32% ■ TEXSTAR 23% ■ FHLB 11% ■ FNMA 8% ■ FHLMC 7% 1 TXCLASS 4% ■ Otherlssuers 16% Total: 100% /U"/o 60% 50% 40% 30% 20% 10% 0% Overnight 2 - 90 Days 91 - 180 Days 6 - 12 Months 1 - 2 Years Weighted Average Days to Maturity: 105 Page 4 of 15 City of Southlake Executive Summary As of 12131/19 ■ A-1+ 6% AAA 94% Total: 100% Page 1 of 1 ■ AGCY BULLET 18% ■ AGCY CALL 10% ■ CP 6% ■ LGIP 62% ■ TREASURY 3% Total: 100% ■ A-1+ 6% AAA 94% Total: 100% Page 1 of 1 J�w HilltopSecurities Asset Management_ 2.80% 2.40% 2.00% 1.60% 1.20% 0.80% City of Southlake Benchmark Comparison As of 12/31/2019 0.40% ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ 0.00% 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 Oct -19 Nov -19 Dec -19 f 1 -YR CMT 3 -MO CMT f 6 -MO CMT —F TEXPOOL f City of Southlake Note 1: CMT stands for Constant Maturity Treasury. This data is published in Federal Reserve Statistical Release HA 5 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. Note 2: Benchmark data for TexPool is the monthly average yield. Print Date: 1/28/2020 Print Time: 2:28 pm Page 1 of 1 Page 5 of 15 J�* HilltopSecurities Asset Management_ City of Southlake Detail of Security Holdings As of 12/31/2019 Settle Purch Mkt Days Days CUSIP Date Sec. Type Sec. Description CPN Mty Date Next Call Call Type Par Value Price Orig Cost Book Value Price Market Value to Mty to Call YTM YTW Crime Control District TEXSTAR LGIP TexSTAR 4,172,831.72 100.000 4,172,831.72 4,172,831.72 100.000 4,172,831.72 1 1.564 1.564 Total for Crime Control District 4,172,831.72 100.000 4,172,831.72 4,172,831.72 100.000 4,172,831.72 1 1.564 1.564 General Operating LNSTCRP LGIP LoneStar Corp 0/N 1,109,244.30 100.000 1,109,244.30 1,109,244.30 100.000 1,109,244.30 1 1.810 1.810 LNSTGOV LGIP LoneStar Gov O/N 2,670,715.39 100.000 2,670,715.39 2,670,715.39 100.000 2,670,715.39 1 1.620 1.620 TEXPOOL LGIP TexPool 47,213,772.42 100.000 47,213,772.42 47,213,772.42 100.000 47,213,772.42 1 1.623 1.623 TEXSTAR LGIP TexSTAR 25,198,152.94 100.000 25,198,152.94 25,198,152.94 100.000 25,198,152.94 1 1.564 1.564 TXCLASS LGIP Texas CLASS 5,274,444.65 100.000 5,274,444.65 5,274,444.65 100.000 5,274,444.65 1 1.880 1.880 46640PAH6 04/24/19 CP- DISC J.P.Morgan Sec 01117120 2,000,000.00 98.094 1,961,884.44 1,997,724.44 99.923 1,998,469.00 17 2.610 2.610 13068CEA9 12/12/19 CP - INT State of CA 1.730 03/11120 5,000,000.00 100.000 5,000,000.00 5,000,000.00 100.016 5,000,781.50 71 1.730 1.730 313378J77 04/23/19 AGCY BULET FHLB 1.875 03113120 6,000,000.00 99.495 5,969,700.00 5,993,163.60 100.042 6,002,509.20 73 2.452 2.452 3133EKMP8 05/31/19 AGCY BILLET FFCB 2.310 05/28120 5,000,000.00 99.985 4,999,250.00 4,999,691.70 100.307 5,015,370.50 149 2.325 2.325 09657TGJ6 09/17/19 CP - INT Univ of NC 1.980 06/11/20 2,350,000.00 100.000 2,350,000.00 2,350,000.00 100.053 2,351,245.50 163 1.980 1.980 3135GOD75 04/23/19 AGCY BILLET FNMA 1.500 06122120 6,000,000.00 98.911 5,934,660.00 5,973,142.68 99.930 5,995,782.60 174 2.454 2.454 3136G4PC1 05/31/19 AGCY CALL FNMA 1.750 07124120 1124/2020 QRTLY 5,000,000.00 99.313 4,965,625.00 4,983,024.35 100.011 5,000,551.00 206 24 2.360 2.360 3130AHEM1 10125/19 AGCY BILLET FHLB 1.625 10/23/20 5,000,000.00 99.995 4,999,750.00 4,999,796.25 99.970 4,998,521.00 297 1.630 1.630 3130AHEM1 10/25/19 AGCY BILLET FHLB 1.625 10/23120 5,000,000.00 99.995 4,999,750.00 4,999,796.25 99.970 4,998,521.00 297 1.630 1.630 9128283G3 05/31/19 TREAS NOTE U.S. Treasury 1.750 11/15/20 5,000,000.00 99.398 4,969,921.88 4,981,924.10 100.080 5,004,006.00 320 2.172 2.172 3134GULE8 10/28/19 AGCY CALL FHLMC 2.000 10128121 1128/2020 QRTLY 10,000,000.00 100.000 10,000,000.00 10,000,000.00 99.936 9,993,592.00 667 28 2.000 2.000 Total for General Operating 137,816,329.70 99.856 137,616,871.02 137,744,593.07 100.007 137,825,679.00 111 1.820 1.820 Parks Development Corporation TEXSTAR LGIP TexSTAR 4,492,558.57 100.000 4,492,558.57 4,492,558.57 100.000 4,492,558.57 1 1.564 1.564 Total for Parks Development Corporation 4,492,558.57 100.000 4,492,558.57 4,492,558.57 100.000 4,492,558.57 1 1.564 1.564 Total for City of Southlake 146,481,719.99 99.864 146,282,261.31 146,409,983.36 100.006 146,491,069.29 105 1.805 1.805 Print Date: 1/2812020 Print Time: 2:28 pm Page 1 of 1 Page 6 of 15 J�w HilltopSecurities Asset Management. City of Southlake Change in Value From 0913012019 to 12/31/2019 CUSIP Security Type Security Description 09/30119 Cost of Maturities / Amortization I Realized 12131119 09130119 12131119 Change in Book Value Purchases Calls I Sales Accretion Gain/(Loss) Book Value Market Value Market Value Mkt Value Community Enhancement Dev Co� TEXPOOL LGIP TexPool 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Total for Community Enhancement Dev Corp 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Crime Control District TEXSTAR LGIP TexSTAR 4,155,229.51 17,602.21 0.00 0.00 0.00 4,172,831.72 4,155,229.51 4,172,831.72 17,602.21 Total for Crime Control District 4,155,229.51 17,602.21 0.00 0.00 0.00 4,172,831.72 4,155,229.51 4,172,831.72 17,602.21 General Operating LNSTCRP LGIP LoneStar Corp O/N 1,103,925.25 5,319.05 0.00 0.00 0.00 1,109,244.30 1,103,925.25 1,109,244.30 5,319.05 LNSTGOV LGIP LoneStar Gov O/N 2,659,009.96 11,705.43 0.00 0.00 0.00 2,670,715.39 2,659,009.96 2,670,715.39 11,705.43 TEXPOOL LGIP TexPool 63,384,134.08 7,705,066.30 (23,875,427.96) 0.00 0.00 47,213,772.42 63,384,134.08 47,213,772.42 (16,170,361.66) TEXSTAR LGIP TexSTAR 25,091,859.75 106,293.19 0.00 0.00 0.00 25,198,152.94 25,091,859.75 25,198,152.94 106,293.19 TXCLASS LGIP Texas CLASS 5,248,331.18 26,113.47 0.00 0.00 0.00 5,274,444.65 5,248,331.18 5,274,444.65 26,113.47 3135GOR39 AGCY BULET FNMA 1.000 10/24/19 4,995,225.70 0.00 (5,000,000.00) 4,774.30 0.00 0.00 4,996,978.00 0.00 (4,996,978.00) 88213M5E5 CP - INT TX A&M Univ 2.350 11/05/19 5,000,000.00 0.00 (5,000,000.00) 0.00 0.00 0.00 4,999,750.00 0.00 (4,999,750.00) 89233HZ56 CP - DISC Toyota Mir Cr 0.000 12/05/19 4,981,493.05 0.00 (5,000,000.00) 18,506.95 0.00 0.00 4,981,520.00 0.00 (4,981,520.00) 13068CDV4 CP - INT State of CA 2.020 12/12/19 5,000,000.00 0.00 (5,000,000.00) 0.00 0.00 0.00 4,998,437.50 0.00 (4,998,437.50) 46640PAH6 CP - DISC J.P.Morgan Sec 0.000 01/17/20 1,984,640.00 0.00 0.00 13,084.44 0.00 1,997,724.44 1,987,937.40 1,998,469.00 10,531.60 13068CEA9 CP - INT State of CA 1.730 03/11/20 0.00 5,000,000.00 0.00 0.00 0.00 5,000,000.00 0.00 5,000,781.50 5,000,781.50 313378,177 AGCY BULET FHLB 1.875 03/13/20 5,984,618.10 0.00 0.00 8,545.50 0.00 5,993,163.60 6,000,262.80 6,002,509.20 2,246.40 3133EKMP8 AGCY BULET FFCB 2.310 05/28/20 4,999,503.20 0.00 0.00 188.50 0.00 4,999,691.70 5,015,818.00 5,015,370.50 (447.50) 09657TGJ6 CP - INT Univ of NC 1.980 06/11/20 2,350,000.00 0.00 0.00 0.00 0.00 2,350,000.00 2,347,796.88 2,351,245.50 3,448.62 3135GOD75 AGCY BULET FNMA 1.500 06/22/20 5,959,161.42 0.00 0.00 13,981.26 0.00 5,973,142.68 5,984,149.80 5,995,782.60 11,632.80 3136G4PC1 AGCY CALL FNMA 1.750 07/24/20 4,975,576.10 0.00 0.00 7,448.25 0.00 4,983,024.35 4,995,179.50 5,000,551.00 5,371.50 3130AGV51 AGCY CALL FHLB 2.125 08/06/20 5,000,000.00 0.00 (5,000,000.00) 0.00 0.00 0.00 5,000,051.00 0.00 (5,000,051.00) 3130AHEM1 AGCY BULET FHLB 1.625 10/23/20 0.00 9,999,500.00 0.00 92.50 0.00 9,999,592.50 0.00 9,997,042.00 9,997,042.00 9128283G3 TREAS NOTE U.S. Treasury 1.750 11/15/20 4,976,759.20 0.00 0.00 5,164.90 0.00 4,981,924.10 4,996,484.50 5,004,006.00 7,521.50 3134GULE8 AGCY CALL FHLMC 2.000 10/28/21 0.00 10,000,000.00 0.00 0.00 0.00 10,000,000.00 0.00 9,993,592.00 9,993,592.00 Total for General Operating 153,694,236.99 32,853,997.44 (48,875,427.96) 71,786.60 0.00 137,744,593.07 153,791,625.60 137,825,679.00 (15,965,946.60) Print Date: 1/28/2020 Print Time: 2:28 pm Page 1 of 2 Page 7 of 15 J�w HilltopSecurities Asset Management. City of Southlake Change in Value From 09/30/2019 to 12131/2019 CUSIP Security Type Security Description 09130/19 Book Value Cost of Purchases Maturities / Calls 1 Sales Amortization 1 Accretion Realized Gain/(Loss) 12131/19 Book Value 09130/19 Market Value 12131119 Market Value Change in Mkt Value Parks Development Corporation TEXPOOL LGIP TexPool TEXSTAR LGIP TexSTAR 0.00 4,473,607.64 0.00 18,950.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 4,492,558.57 0.00 4,473,607.64 0.00 4,492,558.57 0.00 18,950.93 Total for Parks Development Corporation 4,473,607.64 18,950.93 0.00 0.00 0.00 4,492,558.57 4,473,607.64 4,492,558.57 18,950.93 Total for City of Southlake 162,323,074.14 32,890,550.58 (48,875,427.96) 71,786.60 0.00 146,409,983.36 162,420,462.75 146,491,069.29 (15,929,393.46) Print Date: 1128/2020 Print Time: 2:28 pm Page 8 of 15 Page 2 of 2 J�* HilltopSecurities Asset Management.. City of Southlake Earned Income From 0913012019 to 12/31/2019 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Recd 1 Interest Purchased Ending Accrued Disc Accr 1 Net Income Sold / Matured Prem Amort Community Enhancement Dev Corp Total for Community Enhancement Dev Corp 0.00 0.00 0.00 0.00 0.00 0.00 0.00 Crime Control District TEXSTAR LGIP TexSTAR 0.00 17,602.21 17,602.21 0.00 0.00 0.00 17,602.21 Total for Crime Control District 0.00 17,602.21 17,602.21 0.00 0.00 0.00 17,602.21 General Operating LNSTCRP LGIP LoneStar Corp O/N 0.00 5,319.05 5,319.05 0.00 0.00 0.00 5,319.05 LNSTGOV LGIP LoneStar GovO/N 0.00 11,705.43 11,705.43 0.00 0.00 0.00 11,705.43 TEXPOOL LGIP TexPool 0.00 232,889.73 232,889.73 0.00 0.00 0.00 232,889.73 TEXSTAR LGIP TexSTAR 0.00 106,293.19 106,293.19 0.00 0.00 0.00 106,293.19 TXCLASS LGIP Texas CLASS 0.00 26,113.47 26,113.47 0.00 0.00 0.00 26,113.47 3135GOR39 AGCY BULET FNMA 1.000 10/24/19 21,805.56 3,194.44 25,000.00 0.00 0.00 4,774.30 7,968.74 88213M5E5 CP - INT TX ABM Univ 2.350 11/05/19 35,089.04 11,267.12 46,356.16 0.00 0.00 0.00 11,267.12 89233HZ56 CP- DISC Toyota Mtr Cr 0.000 12/05/19 0.00 0.00 0.00 0.00 0.00 18,506.95 18,506.95 13068CDV4 CP - INT State of CA 2.020 12/12/19 4,150.68 19,923.29 24,073.97 0.00 0.00 0.00 19,923.29 46640PAH6 CP - DISC J.P.Morgan Sec 0.000 01/17/20 0.00 0.00 0.00 0.00 0.00 13,084.44 13,084.44 13068CEA9 CP - INT State of CA 1.730 03/11/20 0.00 4,739.73 0.00 0.00 4,739.73 0.00 4,739.73 313378,177 AGCY BULET FHLB 1.875 03/13/20 5,625.00 28,125.00 0.00 0.00 33,750.00 8,545.50 36,670.50 3133EKMP8 AGCY BULET FFCB 2.310 05/28/20 39,462.50 28,875.00 57,750.00 0.00 10,587.50 188.50 29,063.50 09657TGJ6 CP - INT Univ of NC 1.980 06/11/20 1,809.50 11,891.00 0.00 0.00 13,700.50 0.00 11,891.00 3135GOD75 AGCY BULET FNMA 1.500 06/22/20 24,750.00 22,500.00 45,000.00 0.00 2,250.00 13,981.26 36,481.26 3136G4PC1 AGCY CALL FNMA 1.750 07/24/20 16,284.72 21,875.00 0.00 0.00 38,159.72 7,448.25 29,323.25 3130AGV51 AGCY CALL FHLB 2.125 08/06/20 16,232.64 10,329.86 26,562.50 0.00 0.00 0.00 10,329.86 3130AHEM1 AGCY BULET FHLB 1.625 10/23/20 0.00 29,791.66 0.00 (902.78) 30,694.44 92.50 29,884.16 9128283G3 TREAS NOTE U.S. Treasury 1.750 11/15/20 33,050.27 21,997.81 43,750.00 0.00 11,298.08 5,164.90 27,162.71 3134GULE8 AGCY CALL FHLMC 2.000 10/28/21 0.00 35,000.00 0.00 0.00 35,000.00 0.00 35,000.00 Total for General Operating 198,259.91 631,830.78 650,813.50 (902.78) 180,179.97 71,786.60 703,617.38 Print Date: 1/28/2020 Print Time: 2:28 pm Page 1 of 2 Page 9 of 15 J�w HilltopSecurities Asset Management. City of Southlake Earned Income From 09/30/2019 to 12/31/2019 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd I Interest Purchased Ending Accrued Disc Accr 1 Net Income Sold 1 Matured Prem Amort Print Date: 1/28/2020 Print Time: 2:28 pm Page 10 of 15 Page 2 of 2 Parks Development Corporation TEXSTAR LGIP TexSTAR 0.00 18,950.93 18,950.93 0.00 0.00 0.00 18,950.93 Total for Parks Development Corporation 0.00 18,950.93 18,950.93 0.00 0.00 0.00 18,950.93 Total for City of Southlake 198,259.91 668,383.92 687,366.64 (902.78) 180,179.97 71,786.60 740,170.52 Print Date: 1/28/2020 Print Time: 2:28 pm Page 10 of 15 Page 2 of 2 J�* HilltopSecurities Asset Management. City of Southlake Investment Transactions From 1010112019 to 1213112019 Trade Settle Security Principal Int Purchased / Realized Date Date CUSIP Type Security Description Coupon Mty Date Call Date Par Value Price Amount Received Total Amount Gain / Loss YTM YTW Total for: Income Payments 0.00 171,500.00 171,500.00 Print Date: 1/28/2020 Print Time: 2:28 pm Page 1 of 2 Page 11 of 15 General Operating Calls 11/05/19 11/06/19 3130AGV51 AGCY CALL FHLB 2.125 08/06/20 11/06/19 5,000,000.00 100.000 5,000,000.00 26,562.50 5,026,562.50 2.125 2.123 Total for: Calls 5,000,000.00 5,000,000.00 26,562.50 5,026,562.50 2.125 2.123 Maturities 10/24/19 10/24/19 3135GOR39 AGCY BULET FNMA 1.000 10/24/19 5,000,000.00 100.000 5,000,000.00 0.00 5,000,000.00 2.513 11/05/19 11/05/19 88213M5E5 CP - INT TX A&M Univ 2.350 11/05/19 5,000,000.00 100.000 5,000,000.00 46,356.16 5,046,356.16 2.350 12/05/19 12/05/19 89233HZ56 CP - DISC Toyota Mtr Cr 12/05/19 5,000,000.00 100.000 5,000,000.00 0.00 5,000,000.00 2.064 12/12/19 12/12/19 13068CDV4 CP - INT State of CA 2.020 12/12/19 5,000,000.00 100.000 5,000,000.00 24,073.97 5,024,073.97 2.020 Total for: Maturities 20,000,000.00 20,000,000.00 70,430.13 20,070,430.13 2.237 Purchases 10/24/19 10/28/19 3134GULE8 AGCY CALL FHLMC 2.000 10/28/21 01/28/20 10,000,000.00 100.000 10,000,000.00 0.00 10,000,000.00 2.000 2.000 10/24/19 10/25/19 3130AHEM1 AGCY BULET FHLB 1.625 10/23/20 5,000,000.00 99.995 4,999,750.00 451.39 5,000,201.39 1.630 1.630 10/24/19 10/25/19 3130AHEM1 AGCY BULET FHLB 1.625 10/23/20 5,000,000.00 99.995 4,999,750.00 451.39 5,000,201.39 1.630 1.630 12/12/19 12/12/19 13068CEA9 CP - INT State of CA 1.730 03/11/20 5,000,000.00 100.000 5,000,000.00 0.00 5,000,000.00 1.730 1.730 Total for: Purchases 25,000,000.00 24,999,500.00 902.78 25,000,402.78 1.798 1.798 Income Payments 10/24/19 10/24/19 3135GOR39 AGCY BULET FNMA 1.000 10/24/19 0.00 25,000.00 25,000.00 11/15/19 11/15/19 9128283G3 TREAS NOTE U.S. Treasury 1.750 11/15/20 0.00 43,750.00 43,750.00 11/29/19 11/28/19 3133EKMP8 AGCY BULET FFCB 2.310 05/28/20 0.00 57,750.00 57,750.00 12/23/19 12/22/19 3135GOD75 AGCY BULET FNMA 1.500 06/22/20 0.00 45,000.00 45,000.00 Total for: Income Payments 0.00 171,500.00 171,500.00 Print Date: 1/28/2020 Print Time: 2:28 pm Page 1 of 2 Page 11 of 15 J�* HilltopSecurities Asset Management_ City of Southlake Investment Transactions From 10/01/2019 to 12131/2019 Trade Settle Security Principal Int Purchased / Realized Date Date CUSIP Type Security Description Coupon Mty Date Call Date Par Value Price Amount Received Total Amount Gain I Loss YTM YTW Transaction Type Quantity Total Amount Realized GIL YTM YTW Total Calls 5,000,000.00 Total Maturities 20,000,000.00 Total Purchases 25,000,000.00 Total Income Payments 0.00 Print Date: 1/28/2020 Print Time: 2:28 pm 5,026,562.50 2.125 2.123 20,070,430.13 2.237 25,000,402.78 1.798 1.798 171,500.00 Page 12 of 15 Page 2 of 2 J�w HilltopSecurities Asset Management.. City of Southlake Amortization and Accretion From 09/30/2019 to 1213112019 Print Date: 1128/2020 Print Time: 2:29 pm Page 1 of 1 Page 13 of 15 Orig Amrt/Accr Total Amrt/Accr Remaining CUSIP Settle Date Security Type Security Description Next Call Date Purchase City Price Original Cost for Period Since Purch Disc / Prem Book Value Print Date: 1128/2020 Print Time: 2:29 pm Page 1 of 1 Page 13 of 15 General Operating 3135GOR39 07/16/18 AGCY BULET FNMA 1.000 10/24119 0.00 98.116 0.00 4,774.30 0.00 0.00 0.00 88213M5E5 06/14/19 CP - INT TX A&M Univ 2.350 11/05/19 0.00 100.000 0.00 0.00 0.00 0.00 0.00 89233HZ56 08/09/19 CP- DISC Toyota Mtr Cr 0.000 12/05/19 0.00 99.328 0.00 18,506.95 0.00 0.00 0.00 13068CDV4 09117/19 CP - INT State of CA 2.020 12/12/19 0.00 100.000 0.00 0.00 0.00 0.00 0.00 46640PAH6 04/24/19 CP - DISC J.P.Morgan Sec 0.000 01/17/20 2,000,000.00 98.094 1,961,884.44 13,084.44 35,840.00 2,275.56 1,997,724.44 13068CEA9 12/12/19 CP - INT State of CA 1.730 03/11/20 5,000,000.00 100.000 5,000,000.00 0.00 0.00 0.00 5,000,000.00 313378,177 04/23/19 AGCY BULET FHLB 1.875 03/13/20 6,000,000.00 99.495 5,969,700.00 8,545.50 23,463.60 6,836.40 5,993,163.60 3133EKMP8 05/31/19 AGCY BULET FFCB 2.310 05/28/20 5,000,000.00 99.985 4,999,250.00 188.50 441.70 308.30 4,999,691.70 09657TGJ6 09/17/19 CP -INT Univ of NC 1.980 06/11/20 2,350,000.00 100.000 2,350,000.00 0.00 0.00 0.00 2,350,000.00 3135GOD75 04/23/19 AGCY BULET FNMA 1.500 06/22/20 6,000,000.00 98.911 5,934,660.00 13,981.26 38,482.68 26,857.32 5,973,142.68 3136G4PC1 05/31/19 AGCY CALL FNMA 1.750 07/24/20 10/24/19 5,000,000.00 99.313 4,965,625.00 7,448.25 17,399.35 16,975.65 4,983,024.35 3130AGV51 08/07/19 AGCY CALL FHLB 2.125 08/06/20 11/06/19 0.00 100.000 0.00 0.00 0.00 0.00 0.00 3130AHEM1 10/25/19 AGCY BULET FHLB 1.625 10/23/20 10,000,000.00 99.995 9,999,500.00 92.50 92.50 407.50 9,999,592.50 9128283G3 05/31/19 TREAS NOTE U.S. Treasury 1.750 11/15/20 5,000,000.00 99.398 4,969,921.88 5,164.90 12,002.22 18,075.90 4,981,924.10 3134GULE8 10/28/19 AGCY CALL FHLMC 2.000 10/28/21 01/28/20 10,000,000.00 100.000 10,000,000.00 0.00 0.00 0.00 10,000,000.00 Total for General Operating 56,350,000.00 56,150,541.32 71,786.60 127,722.05 71,736.63 56,278,263.37 Total for City of Southlake 56,350,000.00 56,150,541.32 71,786.60 127,722.05 71,736.63 56,278,263.37 Print Date: 1128/2020 Print Time: 2:29 pm Page 1 of 1 Page 13 of 15 J�* HilltopSecurities Asset Management. City of Southlake Projected Cash Flows Cash Flows for next 180 days from 12/31/2019 CUSIP Security Type Security Description Pay Date Interest Principal Total Amount General Operating 46640PAH6 CP - DISC J.P.Morgan Sec 0.000 01/17/20 01/17/20 0.00 2,000,000.00 2,000,000.00 3136G4PC1 AGCY CALL FNMA 1.750 07/24/20 01/24/20 43,750.00 0.00 43,750.00 13068CEA9 CP - INT State of CA 1.730 03/11/20 03/11/20 21,270.49 5,000,000.00 5,021,270.49 313378,177 AGCY BULET FHLB 1.875 03/13/20 03/13/20 56,250.00 6,000,000.00 6,056,250.00 3130AHEM1 AGCY BULET FHLB 1.625 10/23/20 04/23/20 81,250.00 0.00 81,250.00 3134GULE8 AGCY CALL FHLMC 2.000 10/28/21 04/28/20 100,000.00 0.00 100,000.00 9128283G3 TREAS NOTE U.S. Treasury 1.750 11/15/20 05/15/20 43,750.00 0.00 43,750.00 3133EKMP8 AGCY BULET FFCB 2.310 05/28/20 05/28/20 57,750.00 5,000,000.00 5,057,750.00 09657TGJ6 CP - INT Univ of NC 1.980 06/11/20 06/11/20 34,071.14 2,350,000.00 2,384,071.14 3135GOD75 AGCY BULET FNMA 1.500 06/22/20 06/22/20 45,000.00 6,000,000.00 6,045,000.00 Total for General Operating 483,091.63 26,350,000.00 26,833,091.63 Print Date: 1/28/2020 Print Time: 2:29 pm Page 1 of 2 Page 14 of 15 J�* HilltopSecurities Asset Management. City of Southlake Projected Cash Flows Cash Flows for next 180 days from 12/31/2019 CUSIP Security Type Security Description Pay Date Interest Principal Total Amount January 2020 43,750.00 2,000,000.00 2,043,750.00 March 2020 77,520.49 11,000,000.00 11,077,520.49 April 2020 181,250.00 0.00 181,250.00 May 2020 101,500.00 5,000,000.00 5,101,500.00 June 2020 79,071.14 8,350,000.00 8,429,071.14 Total Projected Cash Flows for City of Southlake 483,091.63 26,350,000.00 26,833,091.63 Print Date: 1/28/2020 Print Time: 2:29 pm Page 2 of 2 Page 15 of 15 6 EXPER i SOUTI January 28, 2020 The Marq Financial I Highlights Membership Analysis Site Cade Membership Type Resident Type FY All All ,,,;fir All ;�� All FY 20 Goal = 2,044 January 281h = 2,479 Year 3 Target = 2,404 ■NIR ■ ■ Target -au,, Adult Emp Facet Fam-NC others Sr. Youth others SAC 450 400 350 300 250 200 150 100 50 0 412 CC Membership Joins vs. Terminations, and Retention Rate (Month -to -Month) 100.0% 95.0% 90.0% 333 85.0% � Joins - � Terminations 80.0% Retention Rate 75.0% 224 201203 70.0% 164 157 65.0% a 138 60.0% L124 122124 122 102 55.0% 2019-05 2019-06 2019-07 2019-08 2019-09 2019-10 50.0% 45.0% 40.0% 2019-11 2019-12 FY 2020 . M. .16 M K4 Cost Recovery Details Site Code .Revenue \CPs LA. ..� �\7 Site Code -Expense ��| im _ � Re Actual Exg Z�- - U Senior Center Membership -W FY 2019 Events = 391 64 98 229 PF -, Private Events Senior Programs City/Community Events FY 2020 Events = 286 47 W EXPERIENCE ` SOUTHLAKE EXPERIENCE SOUTHLAI<,,..,E