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Item 3B1 - Financial ReportCITY OF SOUTHLAI<,.-E MONTHLY FINANCIAL REPORT E 11 1 July 2021 PERFORMANCE AT A GLANCE Year to Date 3 year Trend Reference 7G...,.'.FundVs. Rev. Positive Positive Page 3 (2 months 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. 6mm E City of Southlake Monthly Financial Report 1 8/13/2021 ECONOMIC INDICATORS NATIONAL ECONOMY FINANCIAL ACTIVITY National GDP: 6.5% 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 5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES reported that the "advanced" estimated GDP for the 2nd quarter of 2021 increased at a rate of 6.5%. In the $160,000,000 1st quarter of 2021, GDP increased at a rate of 6.3%. $140,000,000 Housing Starts: 6.3% $120,000,000 Housing starts in June 2021 were at a seasonally adjusted rate of 1,160,000, which is 6.3% above the revised previous month figure of 1,091,000. $100,000,000 UNEMPLOYMENT RATES $80,000,000 National: 5.4% $60,000,000 The National Unemployment rate for July 2021 decreased to 5.4% when compared to 5.9% in June $40 000,000 2021. $20,000,000 State-wide: 6.5% The Texas Unemployment rate for June 2021 (preliminary) decreased slightly to 6.5% from 6.6% in May 2021. $- 2017* 2018* 2019* 2020* 2021* DFW Area: 6.0% The Dallas/Fort Worth/Arlington Metropolitan Area *October -July ■ New Construction permit values unemployment rate for June 2021 (preliminary) increased to 6.0% when compared to 5.3% in May 2021. City of Southlake Monthly Financial Report 2 8/13/2021 GENERAL FUND OVERALL FUND PERFORMANCE: GENERAL FUND REVENUE VS EXPENDITURES 2021 FY 2021 FY 2021 FY 2021 REVENUE FY 2021 EXPENDITURE ---2020 EXPEND. REVENUE EXPENDITURE VARIANCE Oct $ 1,141,203 $ 2,174,348 $ (1,033145) $16,000,000 Nov $ 1,850,321 $ 2,812,519 $ (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 $ (1,425336) $8,000,000 May $ 2,943,568 $ 2,965,278 $ (21:710) Jun $ 2,169,753 $ 3,649,083 $ (1,479,330) $6,000,000 Jul $ 535,422 $ 3,738,353 $ (3,202,931) Aug $ - $ - $ - $4,000,000 Sep $ $2,000,000 Tot $ 42,120,772 $ 32,013,952 $ 10,106,820 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep CHART OUTLOOK: POSITIVE The outlook for the year is positive as overall revenues are trending above budget and expenditures are on target with budget. The revenues exceed expenditures by $10.1 M. The variance is due to the significant portion of property tax revenue collected (over 97%) of the budgeted property tax revenue and sales tax collections are exceeding budget, both are 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 $3,000,000 Nov $ 1,084,677 $ 1,309,584 $ 1,140,440 Dec $ 1,926,407 $ 1,993,686 $ 1,613,337 $2,500,000 Jan $ 1,256,119 $ 1,360,873 $ 1,030,047 Feb $ 978,395 $ 1,011,429 $ 1,094,354 $2,000,000 Mar $ 1,727,925 $ 1,162,936 $ 1,321,691 Apr $ 1,470,896 $ 1,038,287 $ 1,294,023 $1,500,000 P. . May $ 1,262,973 $ 1,153,263 $ 1,295,321 Jun $ 2,586,036 Jul $ - $ 1,375,636 $ 1,190,064 $ 1,274,338 $ 1,179,145 $1,000,000 _— Aug $ 1,233,673 $ 1,344,868 $500,000 Sep $ 1,416,226 $ 1,354,327 Tot $ 13,593,004 $ 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 (16.3%) and FY 2019 (20.11%) collections. The most recent collection for June sales was 88% and 103% above June collections for FY 2020 and FY 2019, respectively. June collections included a significant audit adjustment which represented 38% of collections for the month. 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 8/13/2021 GENERAL FUND REVENUE ANALYSIS (continued) PROPERTY TAX 3 YEAR TREND FY 2021 FY 2020 FY 2019 ■ FY 2021 ■ FY 2020 FY 2019 Oct $ 778,578 $ 790,236 $ 1,151,812 $14,000,000 Nov $ 1,582,957 $ 1,426,054 $ 1,552,708 $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 $ 152,945 $ 105,567 $ - $2,000,000 Jun $ 389,839 $ 448,670 $ 312,620 $- - -� Jul * $ (1,365,991) $ (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 $ 25,857,402 $ 25,357,489 $ 26,147,993 * Net transfer of TIF revenues to TIF CHART OUTLOOK: POSITIVE fund 2021 YTD property tax collections ($25,857,402) are approximately 2.3% higher than 2020 YTD ($25,277,043) and 0.7% less and 2019 YTD ($26,042,211) as of July. As indicated on the chart, the majority of the property tax revenue is collected in the first few months of the fiscal year. YTD collections are trending slightly below budget. PERMIT REVENUE 2021-2019 COMPARISON FY 2021 FY 2020 FY 2019 FY 2021 FY 2020 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 $ 124,870 $ 188,968 $ 111,970 $400,000 May $ 136,364 $ 128,791 $ 601,621 Jun $ 158,786 $ 148,103 $ 111,503 $300,000 Jul Aug $ 170,985 $ - $ 152,920 $ $ 69,101 $ 163:760 $200,000 155328 Sep $ 246,547 $ 474,884 $100 000 Tot $ 1,128,446 $ 1,986,161 $ 2,370,258 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep CHART OUTLOOK: POSITIVE The value of new construction permits ($113.9M+) issued for FY 2021 YTD is approximately 13.4% higher and 9.9% lower when compared to FY 2020 and FY 2019 respectively. FY 2021 collections are 32.5% and 35.2% 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 8/13/2021 EXPENDITURE ANALYSIS DEPARTMENTAL EXPENDITURES SUMMARY FY 2021 ACTUAL FY 2020 ACTUAL YTD FY 2021 BUDGET FY 2020/2021 YTD YTD (JULY) (JULY) YTD (JULY) VARIANCE BUDGET VARIANCE FY 2021 %SPENT CIVIC) $ 716,833 $ 827,792 $ 895,067 $ 110,959 $ 178,234 80.09% COMM $ 389,480 $ 356,656 $ 427,163 $ (32,824) $ 37,683 91.18% CS $ 4,219,615 $ 4,236,977 $ 5,253,595 $ 17,362 $ 1,033,980 80.32% CSO $ 426,340 $ 386,468 $ 467,983 $ (39,872) $ 41,643 91.10% DPS $ 14,597,011 $ 14,398,505 $ 15,992,139 $ (198,506) $ 1,395,128 91.28% ED $ 126,161 $ 107,570 $ 219,078 $ (18,591) $ 92,917 57.59% FIN $ 1,933,162 $ 1,831,883 $ 2,090,427 $ (101,279) $ 157,265 92.48% HR $ 640,657 $ 637,115 $ 725,655 $ (3,542) $ 84,998 88.29% IT $ 2,381,693 $ 2,090,059 $ 2,612,486 $ (291,634) $ 230,793 91.17% PDS $ 1,801,059 $ 1,719,440 $ 1,948,836 $ (81,619) $ 147,777 92.42% PW $ 3,407,089 $ 3,634,645 $ 3,976,938 $ 227,556 $ 569,849 85.67% SS $ 1,461,511 $ 1,342,098 $ 1,531,265 $ (119,413) $ 69,754 95,44% Totals $ 32,100,611 $ 31,569,208 $ 36,140,632 $ (531,403) $ 4,040,021 88,82% FY 2021 ACTUAL YTD (JULY) FY 2020 ACTUAL YTD (JULY) FY 2021 BUDGET YTD (JULY) $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 above, 2021 expenditures are slight above 2020 expenditures for the same period with a increase of 1.7% primarily due to IT investments and pay plan increases. The outlook is positive expenditures are on pace to be below budgeted expenditures for the fiscal year. City of Southlake Monthly Financial Report 5 8/13/2021 HilitopSecurities Asset Management - City of Southlake Investment Portfolio Summary CITY OF SOUTH LAKE For the Quarter Ended June 30, 2021 Prepared by HilltopSecurities Asset Management rt� � :a 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 - JUNE 2021: At this point, nearly everyone who wants a vaccine has been able to receive one, and while new strains continue to pop up it seems that vaccines by and large provide a high level of protection. Covid restrictions are becoming more and more relaxed with most of the United States "open" or at least partially open. As the country returns to normalcy this summer, we should continue to see the economy improve. The ISM manufacturing index rose from 60.7 to a two -month high of 61.2 in May. The ISM non -manufacturing (service sector) index rose from 62.7 in April to 64.0 in May, the highest reading since the survey started in 1997. Nonfarm payrolls missed the mark for the second month in a row, increasing by +559k, which in a pre -pandemic world would be huge, but the median forecast was +675k and we're still 7.6 million jobs below last year's pre -pandemic peak. The unemployment rate dropped from 6.1 % to 5.8% in May, but the drop was the result of 166k Americans exiting the labor force during the month as the labor force participation rate slipped to 61.6%. Average hourly earnings climbed +0.5% in May after a +0.7% jump in April. These are significant single month increases as employers must pay more to find and retain workers. Retail sales took a breather in May, declining -1.3%, but upward revisions boosted April's previously reported unchanged reading to +0.9% and March's already lofty +9.8% gain was increased to +11.3%. Recall that March and April sales were boosted by the last round of government stimulus, so a pullback in May was expected. May's decline doesn't change the fact that consumer spending has been on a torrid pace. The total value of retail sales was $620.2 billion in May, an +18% increase over February 2020's pre -pandemic level. On the inflation front, the headline consumer price index rose +0.6% in May while core CPI climbed +0.7%. On a year -over -year basis, headline CPI was advancing at a +5.0% pace, the biggest annual increase in almost 13 years. Core CPI rose +3.8% year -over -year, the most since 1992. Much of the year -over -year gains can be attributed to the "base effect" as prices were severely depressed 12 months ago while many U.S. businesses were shuttered. The base effect will dissipate going forward, but shortages of materials and labor promise to keep prices high for much of the year. Estimates for second quarter GDP growth center around +10%. Fiscal and monetary stimulus, combined with pent up demand and consumers eagerly returning to pre -pandemic habits, mean the summer should see substantial growth. The Fed made no official change to policy at its June FOMC meeting, holding rates steady and maintaining the monthly addition of $120 billion to its balance sheet. However, the FOMC did signal they will discuss tapering these QE purchases soon. The updated "dot plot" showed Fed officials expect initial rate hikes earlier than previously indicated with 13 of 18 Fed officials now envisioning at least one hike in 2023. The FOMC also made two technical adjustments, increasing the interest on excess reserves (IOER) rate from 0.10% to 0.15%, and the overnight reverse repo rate from 0% to 0.05%. The IOER hike incentivizes banks to hold higher balances with the Fed while the reverse repo facility allows eligible financial firms and money market mutual funds to place cash at the Fed and earn 0.05%. Both should help to ease overall demand for short-term securities and nudge yields higher. The Fed's action had an immediate effect on yields with the two-year treasury yield climbing from 0.15% to 0.26%. Treasury bills inside of 3 months, which had been trading near 0% were up a few basis points. Longer -term yields have fallen as inflation expectations moderate. J�* HilltopSecurities Asset Management_ For the Quarter Ended June 30, 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 J�* HilltopSecurities Asset Management.. Beginning Values as of 03131/21 Par Value Market Value Book Value Unrealized Gain /(Loss) Market Value % Weighted Avg. YTW Weighted Avg. YTM 144,926,901.56 145,829,383.01 145,825,759.97 3,623.04 100.00% 0.093% 0.093% ■ TEXSTAR 25% ■ TEXPOOL 13% ■ US TREAS 13% ■ LONESTRGOV 8% ■ LONESTRCRP 8% ■ FFCB 6% ■ Other Issuers 27% Total: 100% Ending Values as of 06130121 156,768,828.79 157,428,495.50 157,432,208.72 (3,713.22) 100.00% 0.085% 0.085% 60% 50% 40% 30 % 20% 10% 0%' Overnight 2 - 90 Days 91 - 180 6 - 12 1 - 2 Years 2 - 3 Years Days Months Weighted Average Days to Maturity: 111 City of Southlake Executive Summary As of 06130121 ■ AGCY BULLET 3% ■ AGCY CALL 3% ■ CP 15% ■ LGIP 57% ■ MUNICIPAL 9% ■ TREASURY 13% Total: 100% ■ A-1+ 18% ■ AA+ 1% ■ AAA 81 % Total: 1001/6 Print Date: 7/20/2021 Print Time: 9:49 am Page 1 of 1 J�* HilltopSecurities Asset Management.. 2.00% 1.60% 1.20% 0.80% 0.40% 0.00% City of Southlake Benchmark Comparison As of 06/30/2021 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-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 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. Note 2: Benchmark data for TexPool is the monthly average yield. Print Date: 7/20/2021 Print Time: 9:50 am Page 1 of 1 J�* HilltopSecurities Asset Management. City of Southlake Detail of Security Holdings As of 06/30/2021 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 General Operating M LNSTCRP LGIP LoneStar Corp O/N 12,132,129.35 100.000 12,132,129.35 12,132,129.35 100.000 12,132,129.35 1 0.080 0.080 LNSTGOV LGIP LoneStar Gov O/N 12,688,576.43 100.000 12,688,576.43 12,688,576.43 100.000 12,688,576.43 1 0.010 0.010 TEXPOOL LGIP TexPool 20,401,770.72 100.000 20,401,770.72 20,401,770.72 100.000 20,401,770.72 1 0.013 0.013 TEXSTAR LGIP TexSTAR 39,244,720.08 100.000 39,244,720.08 39,244,720.08 100.000 39,244,720.08 1 0.010 0.010 TXCLASS LGIP Texas CLASS 5,316,632.21 100.000 5,316,632.21 5,316,632.21 100.000 5,316,632.21 1 0.061 0.061 91510KUD7 03/16/21 CP - DISC Univ of TX 07/13/21 3,000,000.00 99.960 2,998,810.00 2,999,880.00 99.996 2,999,891.70 13 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 4,999,409.70 99.995 4,999,761.50 26 0.170 0.170 2192ONV58 03/19/21 CP - DISC Correll Univ 08/05/21 5,000,000.00 99.954 4,997,683.33 4,999,416.65 99.990 4,999,500.00 36 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 5,029,008.95 100.600 5,030,020.50 57 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 5,027,514.05 100.556 5,027,821.00 77 0.084 0.084 48306AX51 04/07/21 CP - DISC Kaiser Foundation Hospital 10/05/21 5,000,000.00 99.925 4,996,229.17 4,998,000.00 99.956 4,997,777.00 97 0.150 0.150 9128285F3 01/22/21 TREAS NOTE U.S. Treasury 2.875 10/15/21 5,000,000.00 102.023 5,101,171.88 5,040,253.60 100.816 5,040,825.00 107 0.094 0.094 19865WXL2 06/24/21 CP - DISC Columbia Univ 10/20/21 5,000,000.00 99.974 4,998,688.89 4,998,766.65 99.956 4,997,822.00 112 0.080 0.080 912828RR3 01/15/21 TREAS NOTE U.S. Treasury 2.000 11/15/21 5,000,000.00 101.578 5,078,906.25 5,035,335.75 100.719 5,035,937.50 138 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 5,058,255.00 101.168 5,058,398.50 168 0.071 0.071 882669BC6 12/23/20 MUNICIPAL TX Pub Fin Auth 0.219 02/01/22 2,000,000.00 100.000 2,000,000.00 2,000,000.00 100.054 2,001,085.20 216 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 4,995,665.45 100.007 5,000,356.50 470 105 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 2,721,168.35 108.893 2,722,318.25 684 0.260 0.260 3133EMH96 06/25/21 AGCY BULET FFCB 0.125 06/14/23 5,000,000.00 99.713 4,985,650.00 4,985,771.20 99.732 4,986,620.50 714 0.271 0.271 88213AKBO 09/29/20 MUNICIPAL Texas A&M Univ 2.549 05/15/24 4,485,000.00 107.731 4,831,735.35 4,759,934.58 105.831 4,746,531.56 1,050 0.400 0.400 Total for General Operating 156,768,828.79 100.770 157,929,639.60 157,432,208.72 100.443 157,428,495.50 111 0.085 0.085 Total for City of Southlake 156,768,828.79 100.770 157,929,639.60 157,432,208.72 100.443 157,428,495.50 111 0.085 0.085 Print Date: 7/20/2021 Print Time: 9:51 am Page 1 of 1 J�* HilltopSecurities Asset Management. City of Southlake Change in Value From 0313112021 to 06/30/2021 CUSIP Security Type Security Description 03/31121 Cost of Maturities / Amortization I Realized 06/30121 03/31121 06/30121 Change in Book Value Purchases Calls I Sales Accretion Gaini(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 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 12,129,656.99 2,472.36 0.00 0.00 0.00 12,132,129.35 12,129,656.99 12,132,129.35 2,472.36 LNSTGOV LGIP LoneStar Gov O/N 12,688,407.24 169.19 0.00 0.00 0.00 12,688,576.43 12,688,407.24 12,688,576.43 169.19 TEXPOOL LGIP TexPool 22,264,432.86 2,138,736.66 (4,001,398.80) 0.00 0.00 20,401,770.72 22,264,432.86 20,401,770.72 (1,862,662.14) TEXSTAR LGIP TexSTAR 35,543,760.07 3,700,960.01 0.00 0.00 0.00 39,244,720.08 35,543,760.07 39,244,720.08 3,700,960.01 TXCLASS LGIP Texas CLASS 5,315,644.40 987.81 0.00 0.00 0.00 5,316,632.21 5,315,644.40 5,316,632.21 987.81 91510KUD7 CP - DISC Univ of TX 0.000 07/13/21 2,998,970.01 0.00 0.00 909.99 0.00 2,999,880.00 2,998,873.20 2,999,891.70 1,018.50 89233GUS3 CP - DISC Toyota Mir Cr 0.000 07/26/21 4,997,261.10 0.00 0.00 2,148.60 0.00 4,999,409.70 4,997,270.00 4,999,761.50 2,491.50 2192ONV58 CP - DISC Cornell Univ 0.000 08/05/21 4,997,900.00 0.00 0.00 1,516.65 0.00 4,999,416.65 4,997,707.00 4,999,500.00 1,793.00 882724SY4 MUNICIPAL State of TX 4.000 08/26/21 5,076,148.45 0.00 0.00 (47,139.50) 0.00 5,029,008.95 5,078,707.50 5,030,020.50 (48,687.00) 9128285A4 TREAS NOTE U.S. Treasury 2.750 09/15/21 5,060,458.50 0.00 0.00 (32,944.45) 0.00 5,027,514.05 5,061,719.00 5,027,821.00 (33,898.00) 48306AX51 CP - DISC Kaiser Foundation Hospital 0.000 10/05/21 0.00 4,996,229.17 0.00 1,770.83 0.00 4,998,000.00 0.00 4,997,777.00 4,997,777.00 9128285F3 TREAS NOTE U.S. Treasury 2.875 10/15/21 5,074,837.60 0.00 0.00 (34,584.00) 0.00 5,040,253.60 5,076,172.00 5,040,825.00 (35,347.00) 19865WXL2 CP - DISC Columbia Univ 0.000 10/20/21 0.00 4,998,688.89 0.00 77.76 0.00 4,998,766.65 0.00 4,997,822.00 4,997,822.00 912828RR3 TREAS NOTE U.S. Treasury 2.000 11/15/21 5,058,989.15 0.00 0.00 (23,653.40) 0.00 5,035,335.75 5,060,547.00 5,035,937.50 (24,609.50) 9128285R7 TREAS NOTE U.S. Treasury 2.625 12/15/21 5,090,133.15 0.00 0.00 (31,878.15) 0.00 5,058,255.00 5,090,429.50 5,058,398.50 (32,031.00) 8826691306 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 2,001,304.60 2,001,085.20 (219.40) 3133EMCH3 AGCY CALL FFCB 0.160 10/13/22 4,994,822.30 0.00 0.00 843.15 0.00 4,995,665.45 4,998,669.50 5,000,356.50 1,687.00 8821356W1 MUNICIPAL TexasA&MUniv 5.000 05/15/23 2,750,621.05 0.00 0.00 (29,452.70) 0.00 2,721,168.35 2,751,549.00 2,722,318.25 (29,230.75) 3133EMH96 AGCY BULET FFCB 0.125 06/14/23 0.00 4,985,650.00 0.00 121.20 0.00 4,985,771.20 0.00 4,986,620.50 4,986,620.50 3134GXGR9 AGCY CALL FHLMC 0.350 12/11/23 5,000,000.00 0.00 (5,000,000.00) 0.00 0.00 0.00 5,000,787.50 0.00 (5,000,787.50) 88213AKBO MUNICIPAL Texas A&M Univ 2.549 05/15/24 4,783,717.10 0.00 0.00 (23,782.52) 0.00 4,759,934.58 4,773,745.65 4,746,531.56 (27,214.09) Total for General Operating 145,825,759.97 20,823,894.09 (9,001,398.80) (216,046.54) 0.00 157,432,208.72 145,829,383.01 157,428,495.50 11,599,112.49 Print Date: 7/20/2021 Print Time: 9:51 am Page 1 of 2 J�w HilltopSecurities Asset Management_ CUSIP Security Type Security Description 03/31/21 Cost of Maturities I Amortization 1 Realized 06/30/21 Book Value Purchases Calls 1 Sales Accretion Gain/(Loss) Book Value City of Southlake Change in Value From 03/31/2021 to 06/30/2021 03/31/21 06/30/21 Change in Market Value Market Value Mkt Value 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 145,825,759.97 20,823,894.09 (9,001,398.80) (216,046.54) 0.00 157,432,208.72 145,829,383.01 157,428,495.50 11,599,112.49 Print Date: 7/20/2021 Print Time: 9:51 am Page 2 of 2 J�* HilltopSecurities Asset Management.. City of Southlake Earned Income From 0313112021 to 06/30/2021 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd I Interest Purchased Ending Accrued Disc Accr / Net Income Sold I Matured Prem Amort Community Enhancement Dev Corp Total for Community Enhancement Dev Corp Crime Control District 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 General Operating LNSTCRP LGIP LoneStar Corp O/N 0.00 2,472.36 2,472.36 0.00 0.00 0.00 2,472.36 LNSTGOV LGIP LoneStar Gov O/N 0.00 169.19 169.19 0.00 0.00 0.00 169.19 TEXPOOL LGIP TexPool 0.00 642.70 642.70 0.00 0.00 0.00 642.70 TEXSTAR LGIP TexSTAR 0.00 960.01 960.01 0.00 0.00 0.00 960.01 TXCLASS LGIP Texas CLASS 0.00 987.81 987.81 0.00 0.00 0.00 987.81 91510KUD7 CP - DISC Univ of TX 0.000 07/13/21 0.00 0.00 0.00 0.00 0.00 909.99 909.99 89233GUS3 CP - DISC Toyota Mtr Cr 0.000 07/26/21 0.00 0.00 0.00 0.00 0.00 2,148.60 2,148.60 2192ONV58 CP - DISC Cornell Univ 0.000 08/05/21 0.00 0.00 0.00 0.00 0.00 1,516.65 1,516.65 882724SY4 MUNICIPAL State of TX 4.000 08/26/21 115,616.44 49,863.01 0.00 0.00 165,479.45 (47,139.50) 2,723.51 9128285A4 TREAS NOTE U.S. Treasury 2.750 09/15/21 6,351.90 34,001.36 0.00 0.00 40,353.26 (32,944.45) 1,056.91 48306AX51 CP - DISC Kaiser Foundation Hospital 0.000 10/05/21 0.00 0.00 0.00 0.00 0.00 1,770.83 1,770.83 91282851`3 TREAS NOTE U.S. Treasury 2.875 10/15/21 66,346.15 35,771.34 71,875.00 0.00 30,242.49 (34,584.00) 1,187.34 19865WXL2 CP - DISC Columbia Univ 0.000 10/20/21 0.00 0.00 0.00 0.00 0.00 77.76 77.76 912828RR3 TREAS NOTE U.S. Treasury 2.000 11/15/21 37,845.30 24,926.44 50,000.00 0.00 12,771.74 (23,653.40) 1,273.04 9128285R7 TREAS NOTE U.S. Treasury 2.625 12/15/21 38,581.73 32,780.97 65,625.00 0.00 5,737.70 (31,878.15) 902.82 882669BQ6 MUNICIPAL TX Pub Fin Auth 0.219 02/01/22 1,192.33 1,095.00 0.00 0.00 2,287.33 0.00 1,095.00 3133EMCH3 AGCY CALL FFCB 0.160 10/13/22 3,733.33 2,000.00 4,000.00 0.00 1,733.33 843.15 2,843.15 8821356W1 MUNICIPAL TexasA&MUniv 5.000 05/15/23 47,222.22 31,250.00 62,500.00 0.00 15,972.22 (29,452.70) 1,797.30 3133EMH96 AGCY BULET FFCB 0.125 06/14/23 0.00 104.17 0.00 (190.97) 295.14 121.20 225.37 3134GXGR9 AGCY CALL FHLMC 0.350 12/11/23 5,347.22 3,402.78 8,750.00 0.00 0.00 0.00 3,402.78 88213AKBO MUNICIPAL Texas A&MUniv 2.549 05/15/24 43,188.56 28,580.66 57,161.33 0.00 14,607.89 (23,782.52) 4,798.14 Total for General Operating 365,425.18 249,007.80 325,143.40 (190.97) 289,480.55 (216,046.54) 32,961.26 Print Date: 7/20/2021 Print Time: 9:51 am Page 1 of 2 J�* HilltopSecurities Asset Management. City of Southlake Earned Income From 03/31/2021 to 06/30/2021 CUSIP Security Type Security Description Beg. Accrued Interest Earned Interest Rec'd / Interest Purchased Ending Accrued Disc Accr / Net Income Sold / Matured Prem Amort 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 365,425.18 249,007.80 325,143.40 (190.97) 289,480.55 (216,046.54) 32,961.26 Print Date: 7/20/2021 Print Time: 9:51 am Page 2 of 2 J�w HilltopSecurities Asset Management. City of Southlake Investment Transactions From 0410112021 to 06/30/2021 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 meting calls 06/10/21 06/11/21 3134GXGR9 AGCY CALL FHLMC 0.350 12/11/23 06/11/21 5,000,000.00 100.000 5,000,000.00 0.00 5,000,000.00 0.350 0.350 Total for: Calls 5,000,000.00 5,000,000.00 0.00 5,000,000.00 0.350 0.350 Purchases 04/06/21 04/07/21 48306AX51 CP - DISC Kaiser Foundation Hospital 10/05/21 5,000,000.00 99.925 4,996,229.17 0.00 4,996,229.17 0.150 0.150 06/23/21 06/24/21 19865WXL2 CP - DISC Columbia Univ 10/20/21 5,000,000.00 99.974 4,998,688.89 0.00 4,998,688.89 0.080 0.080 06/24/21 06/25/21 3133EMH96 AGCY BULET FFCB 0.125 06/14/23 5,000,000.00 99.713 4,985,650.00 190.97 4,985,840.97 0.271 0.271 Total for: Purchases 15,000,000.00 14,980,568.06 190.97 14,980,759.03 0.167 0.167 Income Payments 04/13/21 04/13/21 3133EMCH3 AGCY CALL FFCB 0.160 10/13/22 0.00 4,000.00 4,000.00 04/15/21 04/15/21 9128285F3 TREAS NOTE U.S. Treasury 2.875 10/15/21 0.00 71,875.00 71,875.00 05/17/21 05/15/21 8821356W1 MUNICIPAL Texas A&M Univ 5.000 05/15/23 0.00 62,500.00 62,500.00 05/17/21 05/15/21 88213AKBO MUNICIPAL Texas A&MUniv 2.549 05/15/24 0.00 57,161.33 57,161.33 05/17/21 05/15/21 912828RR3 TREAS NOTE U.S. Treasury 2.000 11/15/21 0.00 50,000.00 50,000.00 06/11/21 06/11/21 3134GXGR9 AGCY CALL FHLMC 0.350 12/11/23 0.00 8,750.00 8,750.00 06/15/21 06/15/21 9128285R7 TREAS NOTE U.S. Treasury 2.625 12/15/21 0.00 65,625.00 65,625.00 Total for: Income Payments 0.00 319,911.33 319,911.33 Print Date: 7/20/2021 Print Time: 9:51 am Page 1 of 2 J�w HilltopSecurities Asset Management. City of Southlake Investment Transactions From 0410112021 to 0613012021 Trade Settle Security Principal Int Purchased 1 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 Purchases 15,000,000.00 Total Income Payments 0.00 5,000,000.00 0.350 0.350 14,980,759.03 0.167 0.167 319,911.33 Print Date: 7/20/2021 Print Time: 9:51 am Page 2 of 2 J�* HilltopSecurities Asset Management. City of Southlake Amortization and Accretion From 0313112021 to 06/30/2021 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 I Prem Book Value 91510KUD7 03/16/21 CP - DISC Univ of TX 0.000 07/13/21 3,000,000.00 99.960 2,998,810.00 909.99 1,070.00 120.00 2,999,880.00 89233GUS3 01/27/21 CP - DISC Toyota Mtr Cr 0.000 07/26/21 5,000,000.00 99.915 4,995,750.00 2,148.60 3,659.70 590.30 4,999,409.70 2192ONV58 03/19/21 CP - DISC Cornell Univ 0.000 08/05/21 5,000,000.00 99.954 4,997,683.33 1,516.65 1,733.32 583.35 4,999,416.65 882724SY4 09/02/20 MUNICIPAL State of TX 4.000 08/26/21 5,000,000.00 103.709 5,185,450.00 (47,139.50) (156,441.05) (29,008.95) 5,029,008.95 9128285A4 01/22/21 TREAS NOTE U.S. Treasury 2.750 09/15/21 5,000,000.00 101.715 5,085,742.19 (32,944.45) (58,228.14) (27,514.05) 5,027,514.05 48306AX51 04/07/21 CP - DISC Kaiser Foundation Hospital 0.000 10/05/21 5,000,000.00 99.925 4,996,229.17 1,770.83 1,770.83 2,000.00 4,998,000.00 9128285F3 01/22/21 TREAS NOTE U.S. Treasury 2.875 10/15/21 5,000,000.00 102.023 5,101,171.88 (34,584.00) (60,918.28) (40,253.60) 5,040,253.60 19865WXL2 06/24/21 CP - DISC Columbia Univ 0.000 10/20/21 5,000,000.00 99.974 4,998,688.89 77.76 77.76 1,233.35 4,998,766.65 912828RR3 01/15/21 TREAS NOTE U.S. Treasury 2.000 11/15/21 5,000,000.00 101.578 5,078,906.25 (23,653.40) (43,570.50) (35,335.75) 5,035,335.75 9128285R7 03/15/21 TREAS NOTE U.S. Treasury 2.625 12/15/21 5,000,000.00 101.922 5,096,093.75 (31,878.15) (37,838.75) (58,255.00) 5,058,255.00 882669BQ6 12/23/20 MUNICIPAL 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 3133EMCH3 10/13/20 AGCY CALL FFCB 0.160 10/13/22 10/13/21 5,000,000.00 99.865 4,993,250.00 843.15 2,415.45 4,334.55 4,995,665.45 8821356W1 10/28/20 MUNICIPAL TexasA&MUniv 5.000 05/15/23 2,500,000.00 112.026 2,800,650.00 (29,452.70) (79,481.65) (221,168.35) 2,721,168.35 3133EMH96 06/25/21 AGCY BULET FFCB 0.125 06/14/23 5,000,000.00 99.713 4,985,650.00 121.20 121.20 14,228.80 4,985,771.20 3134GXGR9 12/11/20 AGCY CALL FHLMC 0.350 12/11/23 06/11/21 0.00 100.000 0.00 0.00 0.00 0.00 0.00 88213AKBO 09/29/20 MUNICIPAL Texas A&MUniv 2.549 05/15/24 4,485,000.00 107.731 4,831,735.35 (23,782.52) (71,800.77) (274,934.58) 4,759,934.58 Total for General Operating 66,985,000.00 68,145,810.81 (216,046.54) (497,430.88) (663,379.93) 67,648,379.93 Total for City of Southlake 66,985,000.00 68,145,810.81 (216,046.54) (497,430.88) (663,379.93) 67,648,379.93 Print Date: 7/20/2021 Print Time: 9:51 am Page 1 of 1 J�* HilltopSecurities Asset Management.. City of Southlake Projected Cash Flows Cash Flows for next 180 days from 06/30/2021 CUSIP Security Type Security Description Pay Date Interest Principal Total Amount General Operating 11111111� 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 Connell 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 48306AX51 CP - DISC Kaiser Foundation Hospital 0.000 10/05/21 10/05/21 0.00 5,000,000.00 5,000,000.00 3133EMCH3 AGCY CALL FFCB 0.160 10/13/22 10/13/21 4,000.00 0.00 4,000.00 91282851`3 TREAS NOTE U.S. Treasury 2.875 10/15/21 10/15/21 71,875.00 5,000,000.00 5,071,875.00 19865WXL2 CP - DISC Columbia Univ 0.000 10/20/21 10/20/21 0.00 5,000,000.00 5,000,000.00 8821356W1 MUNICIPAL Texas A&MUniv 5.000 05/15/23 11/15/21 62,500.00 0.00 62,500.00 88213AKBO MUNICIPAL Texas A&MUniv 2.549 05/15/24 11/15/21 57,161.32 0.00 57,161.32 912828RR3 TREAS NOTE U.S. Treasury 2.000 11/15/21 11/15/21 50,000.00 5,000,000.00 5,050,000.00 3133EMH96 AGCY BULET FFCB 0.125 06/14/23 12/14/21 3,125.00 0.00 3,125.00 9128285R7 TREAS NOTE U.S. Treasury 2.625 12/15/21 12/15/21 65,625.00 5,000,000.00 5,065,625.00 Total for General Operating 581,853.03 48,000,000.00 48,581,853.03 Print Date: 7/20/2021 Print Time: 9:51 am Page 1 of 2 1�* HilltopSecurities Asset Management_ City of Southlake Projected Cash Flows Cash Flows for next 180 days from 06/30/2021 CUSIP Security Type Security Description Pay Date Interest Principal Total Amount 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 October 2021 75,875.00 15,000,000.00 15,075,875.00 November 2021 169,661.32 5,000,000.00 5,169,661.32 December 2021 68,750.00 5,000,000.00 5,068,750.00 Total Projected Cash Flows for City of Southlake 581,853.03 48,000,000.00 48,581,853.03 Print Date: 7/20/2021 Print Time: 9:51 am Page 2 of 2 EXPERIENC SOUTHLA July 27, 2021 The Marq Financial Review XPERIENCE SOUTHLAKE MARQ 53.70% r7071! Revenue Expense 1.96M 2.77M CEDE FINANCIAL DASHBOARD Fo.2P rind 10 (Period) v as of, 712712021 12-12 PM Champions Club 61.3!0% f78.01 °I° R—nue Expense 1.72M 2.21 M Net Revenue: Current & Previous Year 0CCR •LHR —Previous Year 40K ........ II r r Legends Hall 26A0% 42239"° Revenue Expense 239.26K 566.49K Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 220 2020 202.0 2020 2020 220 2021 2021 2021 2021 20Z1 2021 2021 r The Marq Rentals Revenue (Net) *CC -Rental -Revenue ■LH-Rental-Revenue 40K ... 20K Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Ju M20 2020 2020 2020 2020 2020 2021 2021 2021 2021 2021 2021 2021 The Marq Membership Revenue (Net) 200K .................. 180K..................................................................................... ............................................................. ... 14CK 120K Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul 2020 2020 2020 2020 2020 2020 2021 2021 2021 2021 2021 2021 2021 CC MEMBERSHIP TRENDS 2800 2600 � 0000 15742605 25272502 24 2400 / 2504 — / I 2418 2200 �31 23272378 224p/ 2340 2360 227 /2084 fA .ELs I 19681958 1941 1945 20 2000 1 / 2032 206� 1955 1956 1944 E 1800 1600 ' 1400 183 188 178 179 1 142 1200 1 1000 ill ko 11% 00 471 O i„ N `-1 N M m lD N 00 Q1 O TA N ri N M R* Ll W O O O O O ri O O O O O ri ri % i O O O O O O Q1 01 01 Q1 01 C1 ' 01 ' O O ' O ' O ' O ' O O O O O O O r-I ri r-I r-I ri ri rq TA A TA TA A N `� N N N N N N N N N N N N N N N N N O O O O O O O O O O O O O O O O O O O O N N N N N N N N N N N N N N N N N N N N N N N N N N Period m 350 all$] 250 N 200 a 3 150 100 50 0 CC Membership Joins vs. Terminations, and Retention Rate (Month -to -Month) 450 through 6/30/2021 100.0 /° ° 412 400 371 95.0% 90.0% 350 333 85.0% 306 304 300 285 80.0% 250 224 75.0% 201 203 206 198 70.0% 200 187 190 164 65.0% 157 157155 153 49 150 144 138 124 12�24 12 25 127 128 12813 60.0% 120 18 12 02 103 09 10313 9 07 101 55.0% 100 86 78 91 88 87 63 70 50.0% 50 50 25 45.0% 0 0 0' 40.0% O� OHO o1 Oo O°� ^O ^^ ��' O� 01' O� Off` Oh OHO O� Oo O°� ^O �^ ►��' O� Off' O� Off` O� OHO O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' O' ►�' �' �' �' �' ^' O� O� O^ O^ O^ O^ O^ O� 01' Off' Off' Off' Off' Off' Off' Off' Off' Off' 01' Off' Off' Off' Off' Off' Off' Off' ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti ti Joins _� Terminations Retention Rate 400 300 200 y� 15 87 73 100 29 r I e rsLm is h iNc in t2 u Sup Ne r ied Statu- U f i 0 0 100 -200 300 400 a00 CC MEMBERSHIP JOINS VS TERMINATIONS BY MONTH & TYPE ■Adult .Fam Fain-N, ■SR ■Yotrth 8 C 8 C 8 C 8 C 8 C O C 8 C O C 8 C 8 C 8 C 8 C O C 8 C O C 8 C O C 8 C H H H H H H H H H H H H H H H H H H Jan-20 Fels-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Augl-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Fels-21 Mar-21 Apr-29 May-21 Jun-29 39 25 2119 covB19 39 25 21 19 9 7 3 5 6 VA FY2021 CC Membership Terminations by Reason and by Month 80 76 75 Not Utilizing Membership Failed Pgiwl Relaoatinf ravel Pansfe� Seleded okherservioe provider Dfher 32 H 2 6 0 2 16 26 2 11 2 3 19 51 9 18 2 1 20 89 21 18 2 3 25 76 4 13 2 1 16 47 6 19 0 1 19 62 5 12 4 2 15 56 12 18 1 2 25 75 23 15 4 5 17.9% 17.7% 8.9% 10.3% 1.2% 1.9% 225 60.0% 50.0% 40.0% 30.0% 20.0% 10.0% EXPERIENCE SOUTHLAKE Three Year Revenue Comparison by Month $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 $0 r — 5 Fiscal Year 2019 Actual Fiscal Year 2020 Actual ■ Fiscal Year 2021 Actual EXPERIENCE SOUTHLAI<,.,.,E