Item 3B2 Financial ReportCity of Southlake Monthly Financial Report 1 5/12/2021
lipCITY OF
SOUTHLAI<,.,E
MONTHLY FINANCIAL
REPORT
E 11 1
April 2021
PERFORMANCE AT A GLANCE
Year to Date
3 year Trend
Reference
General Fund Exp. Vs. Rev.
Positive
Positive
Page 3
Sales Tax Revenue (2 moms prior activity)
Positive
Positive
Page 3
Property Tax Revenue
Positive
Positive
Page 4
Permit Revenues
Positive
Positive
Page 4
Departmental Expenditures Summary
Positive
Positive
Page 5
Positive = positive variance or negative variance <1 % compared to seasonal trends.
Warning = Negative variance of 14% compared to seasonal trends
Negative = Negative Variance of > 4% compared to seasonal trends.
City of Southlake Monthly Financial Report 1 5/12/2021
ECONOMIC INDICATORS
NATIONAL ECONOMY
GDP is defined as the output of goods and services
produced by labor and property located in the United
States, The Bureau of Labor and Economic Analysis
reported that the "advance" estimated GDP for the 1st
quarter of 2021 increased at a rate of 6.4%. In the 4th
$100,000,000
quarter of 2020, GDP increased at a rate of 4.3%.
$90,000,000
$80,000,000
Housing Starts: r/ 19.4%
Housing starts in March 2021 were at a seasonally
$70,000,000
adjusted rate of 1,739,000, which is 19.4% above the
revised previous month figure of 1,457,000, and 37.0%
above the same month last year.
$60,000,000
$50,000,000
$40,000,000
UNEMPLOYMENT RATES
National: V 6.1%
The National Unemployment rate for April 2021
$30,000,000
increased to 6.1 % when compared to 6.0% in March
2021.
$20,000,000
State-wide: ./ 6.9%
The Texas Unemployment rate for March 2021
$10,000,000
(preliminary) remained unchanged from February 2021
at 6.9%.
$
FINANCIAL ACTIVITY
DFW Area: V 6.5% 2017* 2018* 2019* 2020* 2021*
The Dallas/Fort Worth/Arlington Metropolitan Area October -April ■ New Construction permit values
unemployment rate for March 2021 (preliminary)
decreased to 6.5% when compared to 6.8% in
February 2021.
City of Southlake Monthly Financial Report 2 5/12/2021
City of Southlake Monthly Financial Report 3 5/12/2021
GENERAL FUND
OVERALL FUND PERFORMANCE:
GENERAL FUND REVENUE VS EXPENDITURES 2021
FY 2021
FY 2021
FY 2021 REVENUE FY 2021 EXPENDITURE X2020 EXPEND.
REVENUE
EXPENDITURE
VARIANCE
Oct $ 1,141,203
$ 2,174,348
$
(1,033,145)
$16,000,000
Nov $ 1,850,321
$ 2,812,519
S
(962,198)
$14,000,000
Dec $ 7,709,670 $ 4,221,574 $ 3,488,096
Jan $ 14,791,267
$ 2,764,227
$
12,027,040
$12,000,000
Feb $ 7,203,499 $ 3,290,949 $ 3,912,550
Mar $ 2,085,482
$ 3,281,698
$
(1,196,216)
$10,000,000
Apr $ 1,690,587
$ 3,115,923
$
(1,425,336)
$8,000,000
-
May $ - $ - $
Jun $
$
$
$6,000,000
Jul $ $ $
Aug $ -
Sep
Tot $ 36,472,029
$
$ 21,661,238
$
$
$
-
14,810,791
$4,000,000
$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 revenues are higher than expenditures by $14.8M. The significant variance is due to the significant portion of
property tax revenue
collected (over 97%)
of the budgeted property tax revenue which is the largest revenue source for the general fund.
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2021-2019 COMPARISON
FY 2021
FY 2020
FY 2019
FY 2021 FY 2020 FY 2019
Oct $ 1,299,576
$ 1,278,635
$
1,253,417
$2,500,000
Nov $ 1,084,677
$ 1,309,584
$
1,140,440
Dec $ 1,926,407
$ 1,993,686
$
1,613,337
Jan $ 1,256,119
$ 1,360,873
$
1,030,047
$2,000,000
Feb $ 978,395
$ 1,011,429
$
1,094,354
Mar $ 1,727,925
$ 1,162,936
$
1,321,691
$1,500,000
Apr $ -
$ 1,038,287
$
1,294,023
May $ -
$ 1,153,263
$
1,295,321
$1,000,000
Jun $
$ 1,375,636
$
1,274,338
Jul $ -
$ 1,190,064
$
1,179,145
Aug
$ 1,233,673
$
1,344,868
$500,000
Sep
$ 1,416,226
$
1,354,327
Tot $ 8,273,099
$ 15,524,291
$
15,195,307
$-
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
CHART OUTLOOK: POSITIVE
Year to date sales tax collections are trending above FY 2020 (1.92%) and above FY 2019 (11.0%) collections. The most recent collection for March sales was 48.6% and 30.7% above March collections for FY 2020 and
FY 2019, respectively. Year to date collections are trending above budget for the year therefore the outlook is considered positive. Staff will continue to closely monitor collections.
City of Southlake Monthly Financial Report 3 5/12/2021
City of Southlake Monthly Financial Report 4 5/12/2021
GENERAL FUND
REVENUE ANALYSIS (continued)
PROPERTY TAX 3 YEAR TREND
FY 2021
FY 2020
FY 2019
■ FY 2021 ■ FY 2020 FY 2019
Oct
Nov
$ 778,578
$ 1,582,957
$ 790,236
$ 1,426,054
$
$
1,151,812
1,552,708
$14,000,000
$12,000,000
Dec
$ 6,036,699
$ 9,161,119
$
10,397,278
$10,000,000
Jan
$ 13,167,125
$ 10,088,389
$
9,985,201
$8,000,000
Feb
$ 4,445,041
$ 4,237,797
$
3,385,436
Mar
$ 411,151
$ 420,930
$
395,710
$6,000,000
Apr
$ 259,058
$ 55,958
$
156,647
$4,000,000
May
$ -
$ 105,567
$
-
$2,000,000
Jun
$
$ 448,670
$
312,620
$-
Jul *
$ -
$ (1,457,677)
$
(1,295,201)
$(2,000,000) - Oct Nov Dec Jan Feb Mar Apr May Jun Aug
Aug
$
$ 52,000
$
59,318
$(4,000,000)
Sep
$
$ 28,446
$
46,464
Tot
$ 26,680,609
$ 25,357,489
$
26,147,993
* Net
transfer of TIF
revenues to TIF
CHART OUTLOOK:
POSITIVE
fund
2021
YTD property tax
collections ($26,680,609) are approximately 1.91% higher than 2020 YTD ($26,180,483) and 1.27% less and 2019 YTD ($27,024,792) as of April. As indicated on the chart, the majority of the
property tax revenue
is collected in the first few months of the fiscal year.
PERMIT REVENUE 2021-2019 COMPARISON
FY 2021
FY 2020
FY 2019
FY 2021 � FY 2020 -ir FY 2019
Oct
$ 50,043
$ 134,067
$
85,534
$700,000
Nov
$ 69,734
$ 238,528
$
75,588
Dec
$ 102,515
$ 135,168
$
160,859
$600,000 -
Jan
$ 88,737
$ 204,931
$
121,526
Feb
$ 76,270
$ 212,195
$
121,533
$500,000
Mar
$ 150,142
$ 126,842
$
186,152
Apr
$ 115,716
$ 188,968
$
111,970
$400,000
May
$ -
$ 128,791
$
601,621
Jun
$
$ 148,103
$
111,503
$300,000
Jul
Aug
$ -
$
$ 152,920
$ 69,101
$
$
163,760
155,328
$200,000
Sep
$ 246,547
$
474,884
$100,000
a
Tot
$ 653,157
$ 1,986,161
$
2,370,258
CHART OUTLOOK:
POSITIVE
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
The value of new construction permits
($56.2M+) issued
for FY 2021 YTD is approximately 3.09% and 6.10% lower when compared to FY 2020 and FY 2019 respectively. FY 2021 collections are 47.4% and 24.3%
below FY 2020 and 2019,
respectively.
The primary reason for the significant variance is due to the timing related to one commercial permit issued in Q1 (October 2, 2020) but revenue was collected in Q4 of FY 2020. The
permit revenue year to date is trending above budget therefore the outlook is considered positive.
City of Southlake Monthly Financial Report 4 5/12/2021
EXPENDITURE ANALYSIS
DEPARTMENTAL EXPENDITURES SUMMARY
FY 2021 ACTUAL
FY 2020 ACTUAL YTD
FY 2021 BUDGET
FY 2020/2021 YTD
YTD (APRIL)
(APRIL)
YTD (APRIL)
VARIANCE
BUDGET VARIANCE FY 2021 %SPENT
CMO
$ 462,618
$
558,658
$
624,325
$
96,040
$ 161,707
74.10%
COMM
$ 275,110
$
256,463
$
313,822
$
(18,647)
$ 38,712
87.66%
CS
$ 2,747,095
$
2,981,114
$
3,785,127
$
234,019
$ 1,038,032
72.58%
CSO
$ 290,187
$
273,313
$
335,162
$
(16,874)
$ 44,975
86.58%
DPS
$ 9,676,929
$
9,968,615
$
11,505,092
$
291,686
$ 1,828,163
84.11%
ED
$ 87,576
$
78,045
$
161,024
$
(9,531)
$ 73,448
54.39%
FIN
$ 1,402,317
$
1,334,089
$
1,575,438
$
(68,228)
$ 173,121
89.01%
HR
$ 470,968
$
417,901
$
508,681
$
(53,067)
$ 37,713
92.59%
IT
$ 1,672,617
$
1,463,242
$
1,953,924
$
(209,375)
$ 281,307
85.60%
PDS
$ 1,197,562
$
1,158,777
$
1,373,020
$
(38,785)
$ 175,458
87.22%
PW
$ 2,276,283
$
2,535,198
$
2,760,148
$
258,915
$ 483,865
82.47%
SS
$ 1,172,479
$
1,087,101
$
1,256,070
$
(85,378)
$ 83,591
93.35%
Totals
$ 21,731,741
$
22,112,516
$
26,151,833
$
380,775
$ 4,420,092
83.10%
FY 2021 ACTUAL YTD (APRIL)
FY 2020 ACTUAL YTD (APRIL) FY 2021 BUDGET YTD (APRIL)
$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:
I POSITIVE
As indicated above, 2021 expenditures are
below 2020 expenditures for the same period with
a decrease of 1.7% primarily due to DPS expenditures eligible for CARES/grants funding,
reduction in recreation and vacancy
savings. The outlook is positive expenditures are on pace
to be below budgeted expenditures
for the fiscal year.
City of Southlake Monthly Financial Report 5 5/12/2021
HilitopSecurities
Asset Management -
City of Southlake
Investment Portfolio Summary
CITY OF
SOUTHLAKE
L01
For the Quarter Ended
March 31, 2021
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 - MARCH 2021:
The economic outlook brightened considerably in March as the pace of vaccine distribution
accelerated and Congress passed another massive stimulus package. Consumers were already sitting
on an abundance of cash and the $1.9 trillion American Rescue Plan will add to that pile. Progress on
the vaccine front suggests herd immunity could be reached by early summer, several months sooner
than previously expected, setting the stage for a return to something resembling normal in the second
half of 2021.
The headline ISM manufacturing index climbed from 58.7 to a 10 -year high of 60.8 in February.
Numbers above 50 indicate expansion, while numbers above 60 are consistent with exceptionally
strong growth. The ISM non -manufacturing index slipped to a nine-month low as the service sector
remains hamstrung by the virus -related shutdowns and restrictions, but it is poised to rebound as the
economy normalizes. Employment conditions improved as U.S. businesses added +379k jobs to
payrolls in February, nearly twice the median forecast. Upward revisions to prior months boosted the
tally by another +38k. The unemployment rate declined from 6.3% to 6.2% and while unemployment
remains well above the five -decade low of 3.5% from a year ago, it is much improved from the 14.8%
pandemic high ten months ago. Initial jobless claims, though still elevated relative to pre -pandemic
levels, fell to their lowest level in over a year. Consumer spending soared in January, with the original
+5.3% gain revised even higher to +7.6%. February retail sales couldn't keep up the pace, falling
-3.0% month -over -month. This was to be expected as January's torrid pace, supported by stimulus
checks, wasn't sustainable. Freezing weather across much of the nation had a negative impact as
well. Spending is set to boom in the months ahead as the American Rescue Plan includes almost
$450 billion in aid to individuals and families. If the last round of $600 stimulus checks managed to
bolster retail sales so much in January, imagine what March's $1,400 checks will do to sales in the
next few months. That idea is supported by a big jump in March's consumer confidence index which
posted its biggest single month gain in 18 years, climbing to 109.7. March's slate of housing data
reflected February's freezing weather with both new and existing home sales declining, though home
prices continue to rise. Existing home sales are being restrained by a lack of homes available for sale.
Low inventories and higher prices are a recipe for new construction, which will further add to 2021
GDP growth.
With conditions rapidly improving on both the Covid-19 and economic fronts, economists have been
busy revising their 2021 growth forecasts higher. The median forecast in Bloomberg's survey of
economists currently shows first quarter gross domestic product advancing at a +4.7%
quarter -over -quarter annualized rate, followed by a second quarter booming at +7%. GDP could easily
expand more than +6% in 2021. Bond markets have taken note. Although the short end remains
anchored by a Fed determined to stand pat until they see both sustained inflation and full employment,
intermediate to long yields have climbed significantly. The five-year Treasury note yield, which rose 31
basis points during February, climbed another 21 basis points in March to close the month at 0.94%.
The 10 -year T -note closed March at 1.74%, up 83 bps since the year began.
Page 2 of 15
J�*
HilltopSecurities
Asset Management_
For the Quarter Ended
March 31, 2021
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�w
HilltopSecurities
Asset Management.
Beginning Values as of 12/31120 Ending Values as of 03131121
Par Value 139,438,614.59 144,926,901.56
Market Value 140,230,394.64 145,829,383.01
Book Value 140,176,663.66 145,825,759.97
Unrealized Gain /(Loss) 53,730.98 3,623.04
Market Value % 100.04% 100.00%
Weighted Avg. YTW 0.338% 0.093%
Weighted Avg. YTM 0.338% 0.093%
■ TEXSTAR
24%
TEXPOOL
15%
■ USTREAS
14%
■ LONESTRGOV
9%
■ LONESTRCRP
8%
TAMU
5%
■ Other Issuers
24%
Total:
100%
70%
60%
50%
40%
30%
20%
10%
5%
0%
w"
IIIIIIIIIIIIIIIIIIIII■
Overnight 91-180 6-12 1 - 2 Years 2 - 3 Years 3 - 4 Years
Days Months
Weighted Average Days to Maturity: 155
City of Southlake
Executive Summary
As of 03/31/21
■ AGCY CALL 7%
CP 9%
■ LGIP 60%
■ MUNICIPAL 10%
■ TREASURY 14%
Total: 100%
■ A-1+ 12%
AA+ 1%
■ AAA 86%
Total: 100%
Print Date: 4/27/2021 Print Time: 10:16 pm Page 1 of 1
Page 4 of 15
J�w
HilltopSecurities
Asset Management_
City of Southlake
Benchmark Comparison
As of 03/31/2021
L.4U %o
2.00% ----------------------------- -- ---------------------------------------------------------------------------------------------------------------------
-------------------------------------------------
1.60% --------------------------
------------ ------------------------------------------------------------------------------------------------------------------------------------------
1.20% -----------------------------------------------------------
--------- ---------------------- ------------------------------------------------------------------------------------------------------------
0.80%-------------------------------------------------------------------- -- -
---------------------------------------------- ------------------------------------------------------------------------------
0.40%------------------------------------------------------------------------------ - --------------------
--------------------------------------------- --- ------ --------------------------------------
0.00%
Oct -19 Nov -19 Dec -19 Jan -20 Feb -20 Mar -20 Apr -20 Mav-20 Jun -20 Jul -20 Auq-20 Sep -20 Oct -20 Nov -20 Dec -20 Jan -21 Feb -21 Mar -21
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: 4/27/2021 Print Time: 10:17 pm Page 1 of 1
Page 5 of 15
J�*
HilltopSecurities
Asset Management.
City of Southlake
Detail of Security Holdings
As of 03/31/2021
Settle Purch Mkt Days Days
CUSIP Date Sec. Type Sec. Description CPN Mty Date Next Call Call Type Par Value Price Ong Cost Book Value Price Market Value to Mty to Call YTM YTW
General Operating
LNSTCRP
LGIP
LoneStar Corp O/N
12,129,656.99
100.000
12,129,656.99
12,129,656.99
100.000
12,129,656.99
1
0.090
0.090
LNSTGOV
LGIP
LoneStar Gov 0/N
12,688,407.24
100.000
12,688,407.24
12,688,407.24
100.000
12,688,407.24
1
0.010
0.010
TEXPOOL
LGIP
TexPool
22,264,432.86
100.000
22,264,432.86
22,264,432.86
100.000
22,264,432.86
1
0.019
0.019
TEXSTAR
LGIP
TexSTAR
35,543,760.07
100.000
35,543,760.07
35,543,760.07
100.000
35,543,760.07
1
0.022
0.022
TXCLASS
LGIP
Texas CLASS
5,315,644.40
100.000
5,315,644.40
5,315,644.40
100.000
5,315,644.40
1
0.105
0.105
91510KUD7
03/16/21
CP - DISC
Univ of TX
07/13/21
3,000,000.00
99.960
2,998,810.00
2,998,970.01
99.962
2,998,873.20
104
0.120
0.120
89233GUS3
01/27/21
CP - DISC
Toyota Mtr Cr
07/26/21
5,000,000.00
99.915
4,995,750.00
4,997,261.10
99.945
4,997,270.00
117
0.170
0.170
2192ONV58
03/19/21
CP- DISC
Cornell Univ
08/05/21
5,000,000.00
99.954
4,997,683.33
4,997,900.00
99.954
4,997,707.00
127
0.120
0.120
882724SY4
09/02/20
MUNICIPAL
State of TX
4.000
08/26/21
5,000,000.00
103.709
5,185,450.00
5,076,148.45
101.574
5,078,707.50
148
0.211
0.211
9128285A4
01/22/21
TREAS NOTE
U.S. Treasury
2.750
09/15/21
5,000,000.00
101.715
5,085,742.19
5,060,458.50
101.234
5,061,719.00
168
0.084
0.084
9128285F3
01/22/21
TREAS NOTE
U.S. Treasury
2.875
10/15/21
5,000,000.00
102.023
5,101,171.88
5,074,837.60
101.523
5,076,172.00
198
0.094
0.094
912828RR3
01/15/21
TREAS NOTE
U.S. Treasury
2.000
11/15/21
5,000,000.00
101.578
5,078,906.25
5,058,989.15
101.211
5,060,547.00
229
0.101
0.101
9128285R7
03/15/21
TREAS NOTE
U.S. Treasury
2.625
12/15/21
5,000,000.00
101.922
5,096,093.75
5,090,133.15
101.809
5,090,429.50
259
0.071
0.071
882669806
12/23/20
MUNICIPAL
TX Pub Fin Auth
0.219
02/01/22
2,000,000.00
100.000
2,000,000.00
2,000,000.00
100.065
2,001,304.60
307
0.219
0.219
3133EMCH3
10/13/20
AGCY CALL
FFCB
0.160
10/13/22 10/13/2021 CONT
5,000,000.00
99.865
4,993,250.00
4,994,822.30
99.973
4,998,669.50
561
196 0.228
0.228
8821356W1
10/28/20
MUNICIPAL
Texas A&M Univ
5.000
05/15/23
2,500,000.00
112.026
2,800,650.00
2,750,621.05
110.062
2,751,549.00
775
0.260
0.260
3134GXGR9
12/11/20
AGCY CALL
FHLMC
0.350
12/11/23 6/11/2021 ORTLY
5,000,000.00
100.000
5,000,000.00
5,000,000.00
100.016
5,000,787.50
985
72 0.350
0.350
88213AKBO
09/29/20
MUNICIPAL
Texas A&M Univ
2.549
05/15/24
4,485,000.00
107.731
4,831,735.35
4,783,717.10
106.438
4,773,745.65
1,141
0.400
0.400
Total for General Operating
144,926,901.56
100.851
146,107,144.31
145,825,759.97
100.653
145,829,383.01
155
0.093
0.093
Total for City of Southlake
144,926,901.56
100.851
146,107,144.31
145,825,759.97
100.653
145,829,383.01
155
0.093
0.093
Print Date: 4/27/2021 Print Time: 10:18 pm Page 1 of 1
Page 6 of 15
J�w
HilltopSecurities
Asset Management.
City of Southlake
Change in Value
From 1213112020 to 03/31/2021
CUSIP Security Type Security Description 12131120 Cost of Maturities / Amortization I Realized 03131121 12131120 03131121 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
Crime Control District
TEXSTAR LGIP TexSTAR
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total for Crime
Control District
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
General Operating
LNSTCRP
LGIP
LoneStar Corp O/N
10,126,728.86
2,002,928.13
0.00
0.00
0.00
12,129,656.99
10,126,728.86
12,129,656.99
2,002,928.13
LNSTGOV
LGIP
LoneStar Gov O/N
10,687,489.68
2,000,917.56
0.00
0.00
0.00
12,688,407.24
10,687,489.68
12,688,407.24
2,000,917.56
TEXPOOL
LGIP
TexPool
20,784,825.08
13,657,467.54
(12,177,859.76)
0.00
0.00
22,264,432.86
20,784,825.08
22,264,432.86
1,479,607.78
TEXSTAR
LGIP
TexSTAR
35,540,439.47
3,320.60
0.00
0.00
0.00
35,543,760.07
35,540,439.47
35,543,760.07
3,320.60
TXCLASS
LGIP
Texas CLASS
5,314,131.50
1,512.90
0.00
0.00
0.00
5,315,644.40
5,314,131.50
5,315,644.40
1,512.90
9128283Q1
TREAS NOTE
U.S. Treasury 2.000 01/15/21
5,000,947.00
0.00
(5,000,000.00)
(947.00)
0.00
0.00
5,002,778.00
0.00
(5,002,778.00)
89233GNS1
CP - DISC
Toyota Mtr Cr 0.000 01/26/21
4,998,923.60
0.00
(5,000,000.00)
1,076.40
0.00
0.00
4,999,639.00
0.00
(4,999,639.00)
9128283X6
TREAS NOTE
U.S. Treasury 2.250 02/15/21
5,004,655.55
0.00
(5,000,000.00)
(4,655.55)
0.00
0.00
5,011,974.00
0.00
(5,011,974.00)
07287CQ96
CP - DISC
Baylor Scott & White 0.000 03/09/21
4,998,325.00
0.00
(5,000,000.00)
1,675.00
0.00
0.00
4,997,837.00
0.00
(4,997,837.00)
912828483
TREAS NOTE
U.S. Treasury 2.375 03/15/21
5,009,006.70
0.00
(5,000,000.00)
(9,006.70)
0.00
0.00
5,021,691.00
0.00
(5,021,691.00)
91510KQG5
CP - DISC
Univ of TX 0.000 03/16/21
2,998,951.68
0.00
(3,000,000.00)
1,048.32
0.00
0.00
2,998,937.40
0.00
(2,998,937.40)
912828C57
TREAS NOTE
U.S. Treasury 2.250 03/31/21
5,007,960.05
0.00
(5,000,000.00)
(7,960.05)
0.00
0.00
5,025,027.00
0.00
(5,025,027.00)
91510KUD7
CP - DISC
Univ of TX 0.000 07/13/21
0.00
2,998,810.00
0.00
160.01
0.00
2,998,970.01
0.00
2,998,873.20
2,998,873.20
89233GUS3
CP - DISC
Toyota Mtr Cr 0.000 07/26/21
0.00
4,995,750.00
0.00
1,511.10
0.00
4,997,261.10
0.00
4,997,270.00
4,997,270.00
2192ONV58
CP - DISC
Cornell Univ 0.000 08/05/21
0.00
4,997,683.33
0.00
216.67
0.00
4,997,900.00
0.00
4,997,707.00
4,997,707.00
882724SY4
MUNICIPAL
State of TX 4.000 08/26/21
5,122,769.95
0.00
0.00
(46,621.50)
0.00
5,076,148.45
5,124,600.00
5,078,707.50
(45,892.50)
9128285A4
TREAS NOTE
U.S. Treasury 2.750 09/15/21
0.00
5,085,742.19
0.00
(25,283.69)
0.00
5,060,458.50
0.00
5,061,719.00
5,061,719.00
9128285F3
TREAS NOTE
U.S. Treasury 2.875 10/15/21
0.00
5,101,171.88
0.00
(26,334.28)
0.00
5,074,837.60
0.00
5,076,172.00
5,076,172.00
912828RR3
TREAS NOTE
U.S. Treasury 2.000 11/15/21
0.00
5,078,906.25
0.00
(19,917.10)
0.00
5,058,989.15
0.00
5,060,547.00
5,060,547.00
9128285R7
TREAS NOTE
U.S. Treasury 2.625 12/15/21
0.00
5,096,093.75
0.00
(5,960.60)
0.00
5,090,133.15
0.00
5,090,429.50
5,090,429.50
882669BQ6
MUNICIPAL
TX Pub Fin Auth 0.219 02/01/22
2,000,000.00
0.00
0.00
0.00
0.00
2,000,000.00
1,999,660.00
2,001,304.60
1,644.60
3133EMCH3
AGCY CALL
FFCB 0.160 10/13/22
4,993,980.00
0.00
0.00
842.30
0.00
4,994,822.30
4,997,372.50
4,998,669.50
1,297.00
8821356W1
MUNICIPAL
TexasA&MUniv 5.000 05/15/23
2,780,054.23
0.00
0.00
(29,433.18)
0.00
2,750,621.05
2,781,250.00
2,751,549.00
(29,701.00)
Print Date: 4/27/2021 Print Time: 10:18 pm Page 1 of 2
Page 7 of 15
J�w
HilltopSecurities
Asset Management.
CUSIP Security Type Security Description 12131/20 Cost of Maturities / Amortization 1 Realized 03131/21
Book Value Purchases Calls 1 Sales Accretion Gain/(Loss) Book Value
City of Southlake
Change in Value
From 12/31/2020 to 03/31/2021
12131/20 03131/21 Change in
Market Value Market Value Mkt Value
General Operating
3134GXGR9 AGCY CALL
FHLMC 0.350 12/11/23
5,000,000.00
0.00
0.00
0.00
0.00
5,000,000.00
5,000,514.50
5,000,787.50
273.00
88213AKBO MUNICIPAL
Texas A&M Univ 2.549 05/15/24
4,807,475.31
0.00
0.00
(23,758.21)
0.00
4,783,717.10
4,815,499.65
4,773,745.65
(41,754.00)
Total for General Operating
140,176,663.66
51,020,304.13
(45,177,859.76)
(193,348.06)
0.00
145,825,759.97
140,230,394.64
145,829,383.01
5,598,988.37
Parks Development Corporation
TEXPOOL LGIP
TexPool
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
TEXSTAR LGIP
TexSTAR
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Total for Parks Development Corporation 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total for City of Southlake 140,176,663.66 51,020,304.13 (45,177,859.76) (193,348.06) 0.00 145,825,759.97 140,230,394.64 145,829,383.01 5,598,988.37
Print Date: 4/27/2021 Print Time: 10:18 pm Page 2 of 2
Page 8 of 15
J�*
HilltopSecurities
Asset Management,
City of Southlake
Earned Income
From 1213112020 to 03/31/2021
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
Crime Control District
Total for Crime Control District
2,928.13
General Operating
0.00
LNSTCRP
LGIP
LoneStar Corp O/N
LNSTGOV
LGIP
LoneStar Gov 0/N
TEXPOOL
LGIP
TexPool
TEXSTAR
LGIP
TexSTAR
TXCLASS
LGIP
Texas CLASS
9128283Q1
TREAS NOTE
U.S. Treasury 2.000 01/15/21
89233GNS1
CP - DISC
Toyota Mtr Cr 0.000 01/26/21
9128283X6
TREAS NOTE
U.S. Treasury 2.250 02/15/21
07287CQ96
CP - DISC
Baylor Scott & White 0.000 03/09/21
912828463
TREAS NOTE
U.S. Treasury 2.375 03/15/21
91510KQG5
CP - DISC
Univ of TX 0.000 03/16/21
912828057
TREAS NOTE
U.S. Treasury 2.250 03/31/21
91510KUD7
CP - DISC
Univ of TX 0.000 07/13/21
89233GUS3
CP - DISC
Toyota Mtr Cr 0.000 07/26/21
2192ONV58
CP - DISC
Cornell Univ 0.000 08/05/21
882724SY4
MUNICIPAL
State of TX 4.000 08/26/21
9128285A4
TREAS NOTE
U.S. Treasury 2.750 09/15/21
91282851`3
TREAS NOTE
U.S. Treasury 2.875 10/15/21
912828RR3
TREAS NOTE
U.S. Treasury 2.000 11/15/21
9128285R7
TREAS NOTE
U.S. Treasury 2.625 12/15/21
882669BQ6
MUNICIPAL
TX Pub Fin Auth 0.219 02/01/22
3133EMCH3
AGCY CALL
FFCB 0.160 10/13/22
8821356W1
MUNICIPAL
Texas A&M Univ 5.000 05115/23
3134GXGR9
AGCY CALL
FHLMC 0.350 12/11/23
88213AKBO
MUNICIPAL
Texas A&M Univ 2.549 05/15/24
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00
2,928.13
2,928.13
0.00
0.00
0.00
2,928.13
0.00
917.56
917.56
0.00
0.00
0.00
917.56
0.00
3,204.93
3,204.93
0.00
0.00
0.00
3,204.93
0.00
3,320.60
3,320.60
0.00
0.00
0.00
3,320.60
0.00
1,512.90
1,512.90
0.00
0.00
0.00
1,512.90
46,195.65
3,804.35
50,000.00
0.00
0.00
(947.00)
2,857.35
0.00
0.00
0.00
0.00
0.00
1,076.40
1,076.40
42,493.21
13,756.79
56,250.00
0.00
0.00
(4,655.55)
9,101.24
0.00
0.00
0.00
0.00
0.00
1,675.00
1,675.00
35,428.18
23,946.82
59,375.00
0.00
0.00
(9,006.70)
14,940.12
0.00
0.00
0.00
0.00
0.00
1,048.32
1,048.32
28,743.13
27,506.87
56,250.00
0.00
0.00
(7,960.05)
19,546.82
0.00
0.00
0.00
0.00
0.00
160.01
160.01
0.00
0.00
0.00
0.00
0.00
1,511.10
1,511.10
0.00
0.00
0.00
0.00
0.00
216.67
216.67
66,301.37
49,315.07
0.00
0.00
115,616.44
(46,621.50)
2,693.57
0.00
26,103.28
68,750.00
(48,998.62)
6,351.90
(25,283.69)
819.59
0.00
27,249.31
0.00
(39,096.84)
66,346.15
(26,334.28)
915.03
0.00
20,994.47
0.00
(16,850.83)
37,845.30
(19,917.10)
1,077.37
0.00
6,129.81
0.00
(32,451.92)
38,581.73
(5,960.60)
169.21
97.33
1,095.00
0.00
0.00
1,192.33
0.00
1,095.00
1,733.33
2,000.00
0.00
0.00
3,733.33
842.30
2,842.30
15,972.22
31,250.00
0.00
0.00
47,222.22
(29,433.18)
1,816.82
972.22
4,375.00
0.00
0.00
5,347.22
0.00
4,375.00
14,607.89
28,580.67
0.00
0.00
43,188.56
(23,758.21)
4,822.46
Print Date: 4/27/2021 Print Time: 10:18 pm Page 1 of 2
Page 9 of 15
J�w
HilltopSecurities
Asset Management.
City of Southlake
Earned Income
From 12/31/2020 to 03/31/2021
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
Total for General Operating 252,544.53 277,991.56 302,509.12 (137,398.21) 365,425.18 (193,348.06) 84,643.50
Parks Development Corporation
Total for Parks Development Corporation 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total for City of Southlake 252,544.53 277,991.56 302,509.12 (137,398.21) 365,425.18 (193,348.06) 84,643.50
Print Date: 4/27/2021 Print Time: 10:18 pm
Page 10 of 15
Page 2 of 2
J�*
HilltopSecurities
Asset Management.
City of Southlake
Investment Transactions
From 01/01/2021 to 03/31/2021
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 0.00 290,625.00 290,625.00
Print Date: 4/27/2021 Print Time: 10:18 pm Page 1 of 2
Page 11 of 15
General Operating
Maturities
01/15/21
01/15/21
9128283QI
TREAS NOTE
U.S. Treasury
2.000
01/15/21
5,000,000.00
100.000
5,000,000.00
0.00
5,000,000.00
1.498
01/26/21
01/26/21
89233GNS1
CP - DISC
Toyota Mtr Cr
01/26/21
5,000,000.00
100.000
5,000,000.00
0.00
5,000,000.00
0.310
02/15/21
02/15/21
9128283X6
TREAS NOTE
U.S. Treasury
2.250
02/15/21
5,000,000.00
100.000
5,000,000.00
0.00
5,000,000.00
1.483
03/09/21
03/09/21
07287CQ96
CP - DISC
Baylor Scott & White
03/09/21
5,000,000.00
100.000
5,000,000.00
0.00
5,000,000.00
0.180
03/15/21
03/15/21
912828463
TREAS NOTE
U.S. Treasury
2.375
03/15/21
5,000,000.00
100.000
5,000,000.00
0.00
5,000,000.00
1.475
03/16/21
03/16/21
91510KQG5
CP - DISC
Univ of TX
03/16/21
3,000,000.00
100.000
3,000,000.00
0.00
3,000,000.00
0.170
03/31/21
03/31/21
912828C57
TREAS NOTE
U.S. Treasury
2.250
03/31/21
5,000,000.00
100.000
5,000,000.00
0.00
5,000,000.00
1.594
Total for:
Maturities
33,000,000.00
33,000,000.00
0.00
33,000,000.00
1.006
Purchases
01/14/21
01/15/21
912828RR3
TREAS NOTE
U.S. Treasury
2.000
11/15/21
5,000,000.00
101.578
5,078,906.25
16,850.83
5,095,757.08
0.101
0.101
01/21/21
01/22/21
9128285A4
TREAS NOTE
U.S. Treasury
2.750
09/15/21
5,000,000.00
101.715
5,085,742.19
48,998.62
5,134,740.81
0.084
0.084
01/21/21
01/22/21
9128285F3
TREAS NOTE
U.S. Treasury
2.875
10/15/21
5,000,000.00
102.023
5,101,171.88
39,096.84
5,140,268.72
0.094
0.094
01/26/21
01/27/21
89233GUS3
CP - DISC
Toyota Mtr Cr
07/26/21
5,000,000.00
99.915
4,995,750.00
0.00
4,995,750.00
0.170
0.170
03/12/21
03/15/21
9128285R7
TREAS NOTE
U.S. Treasury
2.625
12/15/21
5,000,000.00
101.922
5,096,093.75
32;451.92
5,128,545.67
0.071
0.071
03/16/21
03/16/21
91510KUD7
CP - DISC
Univ of TX
07/13/21
3,000,000.00
99.960
2,998,810.00
0.00
2,998,810.00
0.120
0.120
03/18/21
03/19/21
2192ONV58
CP - DISC
Cornell Univ
08/05/21
5,000,000.00
99.954
4,997,683.33
0.00
4,997,683.33
0.120
0.120
Total for:
Purchases
33,000,000.00
33,354,157.40
137,398.21
33,491,555.61
0.108
0.108
Income Payments
01/15/21
01/15/21
9128283QI
TREAS NOTE
U.S. Treasury
2.000
01/15/21
0.00
50,000.00
50,000.00
02/16/21
02/15/21
9128283X6
TREAS NOTE
U.S. Treasury
2.250
02/15/21
0.00
56,250.00
56,250.00
03/15/21
03/15/21
9128284133
TREAS NOTE
U.S. Treasury
2.375
03/15/21
0.00
59,375.00
59,375.00
03/15/21
03/15/21
9128285A4
TREAS NOTE
U.S. Treasury
2.750
09/15/21
0.00
68,750.00
68,750.00
03/31/21
03/31/21
912828C57
TREAS NOTE
U.S. Treasury
2.250
03/31/21
0.00
56,250.00
56,250.00
Total for: Income Payments 0.00 290,625.00 290,625.00
Print Date: 4/27/2021 Print Time: 10:18 pm Page 1 of 2
Page 11 of 15
J�*
HilltopSecurities
Asset Management_
City of Southlake
Investment Transactions
From 01/01/2021 to 03/31/2021
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 Maturities 33,000,000.00
Total Purchases 33,000,000.00
Total Income Payments 0.00
Print Date: 4/27/2021 Print Time: 10:18 pm
33,000,000.00 1.006
33,491,555.61 0.108
290,625.00
Page 12 of 15
0.108
Page 2 of 2
J�w
HilltopSecurities
Asset Management..
City of Southlake
Amortization and Accretion
From 12/31/2020 to 03/31/2021
General Operating
9128283Q1
02/21/20
TREAS NOTE
Orig
07/29/20
Amrt/Accr
Total Amrt/Accr
Remaining
CUSIP Settle Date Security Type
Security Description
Next Call Date Purchase Qty
Price
Original Cost
for Period
Since Purch
Disc / Prem Book Value
General Operating
9128283Q1
02/21/20
TREAS NOTE
89233GNS1
07/29/20
CP - DISC
9128283X6
02/21/20
TREAS NOTE
07287CQ96
12/01/20
CP - DISC
9128284B3
02/21/20
TREAS NOTE
91510KQG5
11/20/20
CP - DISC
912828057
01/17/20
TREAS NOTE
91510KUD7
03/16/21
CP - DISC
89233GUS3
01/27/21
CP - DISC
2192ONV58
03/19/21
CP - DISC
882724SY4
09/02/20
MUNICIPAL
9128285A4
01/22/21
TREAS NOTE
91282851`3
01/22/21
TREAS NOTE
912828RR3
01/15/21
TREAS NOTE
9128285R7
03/15/21
TREAS NOTE
882669BQ6
12/23/20
MUNICIPAL
3133EMCH3
10/13/20
AGCY CALL
8821356W1
10/28/20
MUNICIPAL
3134GXGR9
12/11/20
AGCY CALL
88213AKBO
09/29120
MUNICIPAL
Total for General Operating
U.S. Treasury 2.000 01/15/21
0.00
100.445
0.00
(947.00)
0.00
0.00
0.00
Toyota MtrCr 0.000 01/26/21
0.00
99.844
0.00
1,076.40
0.00
0.00
0.00
U.S. Treasury 2.250 02/15/21
0.00
100.746
0.00
(4,655.55)
0.00
0.00
0.00
Baylor Scott & White 0.000 03/09/21
0.00
99.951
0.00
1,675.00
0.00
0.00
0.00
U.S. Treasury 2.375 03/15/21
0.00
100.945
0.00
(9,006.70)
0.00
0.00
0.00
Univ of TX 0.000 03/16/21
0.00
99.945
0.00
1,048.32
0.00
0.00
0.00
U.S. Treasury 2.250 03/31/21
0.00
100.777
0.00
(7,960.05)
0.00
0.00
0.00
Univ of TX 0.000 07/13/21
3,000,000.00
99.960
2,998,810.00
160.01
160.01
1,029.99
2,998,970.01
Toyota MtrCr 0.000 07/26/21
5,000,000.00
99.915
4,995,750.00
1,511.10
1,511.10
2,738.90
4,997,261.10
Cornell Univ 0.000 08/05/21
5,000,000.00
99.954
4,997,683.33
216.67
216.67
2,100.00
4,997,900.00
State of TX 4.000 08/26/21
5,000,000.00
103.709
5,185,450.00
(46,621.50)
(109,301.55)
(76,148.45)
5,076,148.45
U.S. Treasury 2.750 09/15/21
5,000,000.00
101.715
5,085,742.19
(25,283.69)
(25,283.69)
(60,458.50)
5,060,458.50
U.S. Treasury 2.875 10/15/21
5,000,000.00
102.023
5,101,171.88
(26,334.28)
(26,334.28)
(74,837.60)
5,074,837.60
U.S. Treasury 2.000 11/15/21
5,000,000.00
101.578
5,078,906.25
(19,917.10)
(19,917.10)
(58,989.15)
5,058,989.15
U.S. Treasury 2.625 12/15/21
5,000,000.00
101.922
5,096,093.75
(5,960.60)
(5,960.60)
(90,133.15)
5,090,133.15
TX Pub Fin Auth 0.219 02/01/22
2,000,000.00
100.000
2,000,000.00
0.00
0.00
0.00
2,000,000.00
FFCB 0.160 10/13/22
10/13/21 5,000,000.00
99.865
4,993,250.00
842.30
1,572.30
5,177.70
4,994,822.30
Texas A&M Univ 5.000 05/15/23
2,500,000.00
112.026
2,800,650.00
(29,433.18)
(50,028.95)
(250,621.05)
2,750,621.05
FHLMC 0.350 12/11/23
06/11/21 5,000,000.00
100.000
5,000,000.00
0.00
0.00
0.00
5,000,000.00
Texas A&M Univ 2.549 05/15/24
4,485,000.00
107.731
4,831,735.35
(23,758.21)
(48,018.25)
(298,717.10)
4,783,717.10
56,985,000.00 58,165,242.75 (193,348.06) (281,384.34) (898,858.41) 57,883,858.41
Total for City of Southlake 56,985,000.00 58,165,242.75 (193,348.06) (281,384.34) (898,858.41) 57,883,858.41
Print Date: 4127/2021 Print Time: 10:18 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 0313112021
CUSIP
Security Type
Security Description
Pay Date
Interest
Principal
Total Amount
General Operating
JL-
3133EMCH3
AGCY CALL
FFCB 0.160 10/13/22
04/13/21
4,000.00
0.00
4,000.00
91282851`3
TREAS NOTE
U.S. Treasury 2.875 10/15/21
04/15/21
71,875.00
0.00
71,875.00
8821356W1
MUNICIPAL
Texas A&M Univ 5.000 05/15/23
05/15/21
62,500.00
0.00
62,500.00
88213AKBO
MUNICIPAL
Texas A&M Univ 2.549 05/15/24
05/15/21
57,161.32
0.00
57,161.32
912828RR3
TREAS NOTE
U.S. Treasury 2.000 11/15/21
05/15/21
50,000.00
0.00
50,000.00
3134GXGR9
AGCY CALL
FHLMC 0.350 12/11/23
06/11/21
8,750.00
0.00
8,750.00
9128285R7
TREAS NOTE
U.S. Treasury 2.625 12/15/21
06/15/21
65,625.00
0.00
65,625.00
91510KUD7
CP - DISC
Univ of TX 0.000 07/13/21
07/13/21
0.00
3,000,000.00
3,000,000.00
89233GUS3
CP - DISC
Toyota Mtr Cr 0.000 07/26/21
07/26/21
0.00
5,000,000.00
5,000,000.00
882669BQ6
MUNICIPAL
TX Pub Fin Auth 0.219 02/01/22
08/01/21
2,652.33
0.00
2,652.33
2192ONV58
CP - DISC
Cornell Univ 0.000 08/05/21
08/05/21
0.00
5,000,000.00
5,000,000.00
882724SY4
MUNICIPAL
State of TX 4.000 08/26/21
08/26/21
196,164.38
5,000,000.00
5,196,164.38
9128285A4
TREAS NOTE
U.S. Treasury 2.750 09/15/21
09/15/21
68,750.00
5,000,000.00
5,068,750.00
Total for General Operating 587,478.03 23,000,000.00 23,587,478.03
Print Date: 4/27/2021 Print Time: 10:18 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 03/31/2021
CUSIP Security Type Security Description Pay Date Interest Principal Total Amount
April 2021
75,875.00
0.00
75,875.00
May 2021
169,661.32
0.00
169,661.32
June 2021
74,375.00
0.00
74,375.00
July 2021
0.00
8,000,000.00
8,000,000.00
August 2021
198,816.71
10,000,000.00
10,198,816.71
September 2021
68,750.00
5,000,000.00
5,068,750.00
Total Projected Cash Flows for City of Southlake 587,478.03 23,000,000.00 23,587,478.03
Print Date: 4/27/2021 Print Time: 10:18 pm Page 2 of 2
Page 15 of 15