Item 3B3CITY OF
S0UTHLA1<4,,E
MONTHLY FINANCIAL
REPORT
or— 11 1
September 2021
PERFORMANCE AT A GLANCE
Year to Date
3 year Trend
Reference
7G...,.I.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.
City of Southlake Monthly Financial Report 1 10/9/2021
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY
DP is defined as the output of goods and services
oduced by labor and property located in the United
ates, The Bureau of Labor and Economic Analysis
ported that the "third" estimated GDP for the 2nd MW
carter of 2021 increased at a rate of 6.7%. In the 1st $250,000,000
carter of 2021, GDP increased at a rate of 6.3%.
V -2.8%
Housing starts in August 2021 were at a seasonally
adjusted rate of 1,076,000, which is 2.8% below the
revised previous month figure of 1,107,000.
UNEMPLOYMENT RATES
National: V 4.8%
The National Unemployment rate for September 2021
decreased to 4.8% when compared to 5.2% in August
2021.
State-wide: V 5.9%
The Texas Unemployment rate for August 2021
(preliminary) decreased slightly to 5.9% from 6.2% in
July 2021.
DFW Area: 4.7%
The Dallas/Fort Worth/Arlington Metropolitan Area
unemployment rate for August 2021 (preliminary)
decreased to 4.7% when compared to 5.3% in July
2021.
$200,000,000
$150,000,000
$100,000,000
$50,000,000
2017* 2018* 2019* 2020* 2021*
*October -September ■ New Construction permit values
City of Southlake Monthly Financial Report 2 10/9/2021
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
$
(1,033,145)
$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
Jun
$ 2,943,568
$ 2,529,282
$ 2,965,278
$ 3,760,196
$
$
(21:710)
(3,230,914)
$6,000,000
Jul
$ 529,282
$ 3,760,196
$
(3,230,914)
Aug
$ 2,538,414
$ 3,197,273
$
(658,859)
$4,000,000
Sep
$ 2,353,222
$ 4,643,283
$
(2,290,061)
$2 000,000
Tot $ 47,006,268 $ 39,876,351 $ 7,129,917
CHART OUTLOOK:
POSITIVE
I
Oct Nov Dec Jan Feb Mar
Apr May Jun Jul
Aug Sep
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 $7.1 M. A significant portion of the variance is due to
sales
tax collections
are exceeding budget,
sales tax is the
second 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
May
$ 1,470,896
$ 1,262,973
$ 1,038,287
$ 1,153,263
$
$
1,294,023
1,295,321
$1,500,000
,
.
WWW—
Jun
$ 2,586,036
$ 1,375,636
$
1,274,338
$1,000,000
Jul
$ 1,449,136
$ 1,190,064
$
1,179,145
Aug
$ 1,427,525
$ 1,233,673
$
1,344,868
$500,000
Sep
$ 1,416,226
$
1,354,327
Tot
$ 16,469,665
$ 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 (16.7%)
and FY 2019 (19.0%) collections. June sales were 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 10/9/2021
REVENUE ANALYSIS (continued)
FY 2021 FY 2020 FY 2019
Oct $ 778,578 $ 790,236 $ 1,151,812
Nov $ 1,582,957 $ 1,426,054 $ 1,552,708
Dec $ 6,036,699 $ 9,161,119 $ 10,397,278
Jan $ 13,167,125 $ 10,088,389 $ 9,985,201
Feb $ 4,445,041 $ 4,237,797 $ 3,385,436
Mar $ 411,151 $ 420,930 $ 395,710
Apr $ 259,058 $ 55,958 $ 156,647
May $ 152,945 $ 105,567 $
Jun $ 389,839 $ 448,670 $ 312,620
Jul * $ (1,365,991) $ (1,457,677) $ (1,295,201)
Aug $ 52,655 $ 52,000 $ 59,318
Sep $ 190,848 $ 28,446 $ 46,464
Tot $ 26,100,905 $ 25,357,489 $ 26,147,993
CHART OUTLOOK: POSITIVE
* Net , transfer of TIF revenues to TIF
GENERAL FUND
PROPERTY TAX 3 YEAR TREND
■ FY 2021 ■ FY 2020 FY 2019
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
$2,000,000
$- ■�
$(2,000,000) Oct Nov Dec
$(4,000,000)
Jan Feb Mar Apr May Jun Wr Aug
1 YTD property tax collections ($26,100,905) are approximately 2.9% higher than 2020 YTD ($25,357,489) and 0.2% less and 2019 YTD ($26,147,993) as of September. As indicated on the chart, the majority of
)erty tax revenue is collected in the first few months of the fiscal year. YTD collections are trending slightly above budget.
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
$
170,985
$ 152,920
$
163,760
$200,000
Aug
$
217,599
$ 69,101
$
155,328
Sep
$
196,695
$ 246,547
$
474,884
$100,000
Tot
$
1,542,740
$ 1,986,161
$
2,370,258
CHART
OUTLOOK:
POSITIVE
PERMIT REVENUE 2021-2019 COMPARISON
� FY 2021 m FY 2020
FY 2019
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
value of new construction permits ($134.6M+) issued for FY 2021 YTD is approximately 5.7% higher and 56.4% lower when compared to FY 2020 and FY 2019 respectively. FY 2021 collections are 22.3%
% below FY 2020 and 2019, respectively. Permit revenue exceeded the budget for the fiscal year therefore the outlook is considered positive.
City of Southlake Monthly Financial Report 4 10/9/2021
EXPENDITURE ANALYSIS
DEPARTMENTAL EXPENDITURES SUMMARY
AMENDED
FY 2020/2021 YTD
FY 2021 YTD
FY
2020 YTD
FY 2021 BUDGET
VARIANCE
BUDGET VARIANCE
FY 2021 % SPENT
CMO $ 910,797
$
957,427
$ 946,914
$
46,630
$ 36,117
96.19%
Comm $ 464,180
$
440,762
$ 502,941
$
(23,418)
$ 38,761
92.29%
CS $ 5,272,169
$
5,207,342
$ 5,725,834
$
(64,827)
$ 453,665
92.08%
CSO $ 526,049
$
473,434
$ 560,266
$
(52,615)
$ 34,217
93.89%
DPS $ 18,090,327
$
16,941,983
$ 18,763,382
$
(1,148,344)
$ 673,055
96.41%
ED $ 156,671
$
150,056
$ 209,206
$
(6,615)
$ 52,535
74.89%
FIN $ 2,353,831
$
2,224,249
$ 2,469,509
$
(129,582)
$ 115,678
95.32%
HR $ 808,891
$
775,106
$ 878,141
$
(33,785)
$ 69,250
92.11%
IT $ 2,768,446
$
2,742,618
$ 2,973,823
$
(25,828)
$ 205,377
93.09%
PDS $ 2,197,635
$
2,126,121
$ 2,331,041
$
(71,514)
$ 133,406
94.28%
PW $ 4,433,733
$
4,587,713
$ 4,858,557
$
153,980
$ 424,824
91.26%
SS $ 1,997,946
$
1,882,416
$ 2,150,336
$
(115,530)
$ 152,390
92.91%
Totals $ 39,980,675
$
38,509,227
$ 42,369,950
$
(1,471,448)
$ 2,389,275
94.36%
FY 2021
YTD FY 2020 YTD AMENDED FY 2021 BUDGET
$18,000,000
$16,000,000
$14,000,000
$12,000,000
$10,000,000
$8,000,000
$6,000,000
$4,000,000
i
$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 above 2020 expenditures for
the same
period with
a increase of 3.82% primarily due to DPS expenditures eligible for CARES/grant funding in FY 2020. The outlook is positive
expenditures are on pace to be below budgeted expenditures
for the fiscal
year.
City of Southlake Monthly Financial Report 5 10/9/2021
EXP
Sot
September 28, 2021
I
The Marq Financial Review
EXPERIENCE
SOUTHLAKE
MARQ
53.70%
r.88%
Revewe Expense
2.49M 3.57M
C E D C FINANCIAL DASHBOARD 20 Period(Period)
as of. 9/2812021 12:13 PM
Champions Club
51.30%
f767211*
Revenue Expense
2.16M 2.93M
Net Revenue: Current & Previous Year
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Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
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The Marq Rentals Revenue (Net)
*CC -Rental -Revenue GLH-Rental-Revenue
d0K
20K
Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
2020 2020 2020 2020 2021 2021 2021 2021 2021 2021 2021 2021 2021
CC MEMBERSHIP TRENDS
2800
400
2600
2506 2513
350
2605
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Period
CC Membership Joins vs. Terminations, and Retention Rate (Month -to -Month)
through 8/31/2021
450
412
400
350 333
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80.0%
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75.0%
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55.0%
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CC MEMBERSHIP JOINS VS TERMINATIONS BY MONTH & TYPE
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FY2021 CC MambusNp Terminations by Reason and by Month
80 87
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50.0%
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30.0%
20.0%
10.0%
0.0%
EXPERIENCE
SOUTHLAKE
Three Year Revenue Comparison by Month
$1,000,000
$900,000
$800,000
$700,000
$600,000
$500,000
$400,000
$300,000
$200,000
$100,000
■ Fiscal Year 2019 Actual Fiscal Year 2020 Actual ■ Fiscal Year 2021 Actual
EXPERIENCE
SOUTHLAKE