Item 3B3 - Financial Reportoff -
CITY OF
S0UTHLA1<,.,,,E
MONTHLY FINANCIAL
REPORT
mr- 11 1
May 2022
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
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.
EU-
City of Southlake Monthly Financial Report 1 6/16/2022
ECONOMIC INDICATORS
NATIONAL ECONOMY
1.50%
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 second estimated GDP for the 1 st
quarter of 2022 decreased at a rate of 1.5%. In the 4th $140,000,000
quarter of 2021. GDP increased at a rate of 6.9%.
$120,000,000
Housinu Starts: V 0.2%
Housing starts in April were at a seasonally adjusted $100,000,000
rate of 1,724,000, which is 0.2% below the revised
previous month figure of 1,728,000 but is 14.6% above
April 2021. $80,000,000
UNEMPLOYMENT RATES
National: % 3.6% $60,000,000
The National Unemployment rate for May 2022
remained unchanged at 3.6% when compared to March $40,000,000
2022.
State-wide: 4.3% $20,000,000
The Texas Unemployment rate for April 2022
(preliminary) decreased slightly to 4.3% from 4.4% in
March 2022. $-
FINANCIAL ACTIVITY
DFW Area: V 3.2% 1 2018* 2019* 2020* 2021* 2022*
*
The Dallas/Fort Worth/Arlington Metropolitan Area October- May ■ New Construction permit values
unemployment rate for April 2022 (preliminary)
decreased to 3.2% when compared to 3.3% in March
City of Southlake Monthly Financial Report 2 6/16/2022
i
GENERAL FUND
OVERALL FUND PERFORMANCE:
GENERAL FUND REVENUE VS EXPENDITURES 2022
FY 2022
FY 2022
FY 2022 REVENUE FY 2022 EXPENDITURE —gh-2021 EXPEND.
REVENUE
EXPENDITURE
VARIANCE
Oct $ 1,158,989
$ 2,430,309
$
(1,271,320)
$16,000,000
Nov $ 2,530,286
Dec $ 8,051,473
$ 3,030,028
$ 4,395,374
$
$
(499,742)
3,656,099
$14,000,000
Jan $ 13,878,168
$ 3,110,936
$
10,767,232
$12,000,000
Feb $ 9,221,772 $ 3,292,649 $ 5,929,123
Mar $ 3,062,209
$ 3,845,975
$
(783,766)
$10,000,000
Apr $ 2,609,891
May $ 4,154,292
$ 3,280,619
$ 3,521,267
$
$
(670,728)
633,025
$8,000,000
Jun $ -
$ -
$
-
$6,000,000
Jul $ $ $
Aug $
$
$
$4,000,000
Sep $
Tot $ 44,667,080
$
$ 26,907,157
$
$
17,7579 33
$2,000,000
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 exceeding budget projections and expenditures are on target to be below budget. The revenues are higher than expenditures by approximately $17.8M. The
significant variance is due to the significant
portion of property tax revenue collected (over 90%) of the budgeted property tax revenue which is the largest revenue sources for the general fund.
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2022-2020 COMPARISON
FY 2022
FY 2021
FY 2020
FY 2022 r FY 2021 FY 2020
Oct $ 1,613,415
$ 1,299,576
$
1,278,635
$3,000,000
Nov $ 1,652,674
$ 1,084,677
$
1,309,584
Dec $ 2,456,532
Jan $ 1,602,323
$ 1,926,407
$ 1,256,119
$
$
1,993,686
1,360,873
$2,500,000
$ 1,388,859
$ 978,395
$
1,011,429
$2,000,000
PAFeb
Mar $ 1,975,175
$ 1,727,925
$
1,162,936
Apr $ 1,714,270
$ 1,470,896
$
1,038,287
$1,500,000
May $ -
$ 1,262,973
$
1,153,263
Jun $
$ 2,586,036
$
1,375,636
$1,000,000
Jul $
$ 1,449,136
$
1,190,064
Nit
Aug $
$ 1,427,525
$
1,233,673
$500,000
Sep $
$ 1,687,605
$
1,416,226
Tot $ 12,403,248
$ 18,157,270
$
15,524,291
$_
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 2021 (27.3%) and FY 2020 (35.5%) collections. The most recent collection for April sales were 16.5% and 65.1 % above April collections for FY 2021 and FY 2020,
respectively. November
collections included an audit adjustment
which represented 12% of collections for the month. Year to date collections are 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 6/16/2022
GENERAL FUND
REVENUE ANALYSIS (continued)
PROPERTY TAX 3 YEAR TREND
FY 2022
FY 2021
FY 2020
■ FY 2022 ■ FY 2021 FY 2020
Oct
$ 653,703
$ 778,578
$
790,236
$14,000,000
Nov
$ 2,017,203
$ 1,582,957
$
1,426,054
$12,000,000
Dec
$ 6,068,454
$ 6,036,699
$
9,161,119
$10,000,000
Jan
$ 11,588,414
$ 13,167,125
$
10,088,389
$8,000,00o
Feb
$ 5,872,247
$ 4,445,041
$
4,237,797
Mar
$ 584,684
$ 411,151
$
420,930
$6,000,000
Apr
$ 554,247
$ 259,058
$
55,958
$4,000,000 Id
May
$ 151,717
$ 152,945
$
105,567
$2,000,000
Jun
$ -
$ 389,839
$
448,670
$-
Jul *
$ -
$ (1,365,991)
$
(1,457,677)
$(2,000,000) Oct Nov Dec Jan Feb Mar Apr May Jun Aug
Aug
$
$ 52,655
$
52,000
$(4,000,000)
Sep
$ -
$ 190,848
$
28,446
Tot
$ 27,490,669
$ 26,100,905
$
25,357,489
* Net
transfer of TIF
revenues to TIF
CHART
OUTLOOK:
POSITIVE
fund
2022
YTD property tax
collections ($27,490,669) are higher
than 2021 YTD ($26,833,554) and 2020 YTD ($26,286,050) 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. YTD collections
are trending slightly below budget.
PERMIT REVENUE 2022-2020 COMPARISON
FY 2022
FY 2021
FY 2020
FY 2022 FY 2021 FY 2020
Oct
$ 214,445
$ 50,043
$
134,067
$900,000 i
Nov
$ 185,109
$ 69,734
$
238,528
Dec
$ 94,663
$ 102,515
$
135,168
$800,000
Jan
$ 167,045
$ 88,737
$
204,931
$700,000
Feb
$ 111,545
$ 76,270
$
212,195
Mar
$ 154,046
$ 150,142
$
126,842
$600,000
Apr
$ 277,691
$ 124,870
$
188,968
$500,000
May
Jun
$ 788,270
$ -
$ 136,364
$ 158,786
$
$
128,791
148,103
$400,000
Jul
$ -
$ 170,985
$
152,920
$300,000
Aug
$
$ 217,599
$
69,101
$200,000 •
Sep
$ -
$ 221,982
$
246,547
Tot
$ 1,992,814
$ 1,568,027
$
1,986,161
$100,000
CHART
OUTLOOK:
POSITIVE
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
The value of new construction
permits ($127.6M+) issued for FY 2022 YTD is approximately 73.5% and 73.4% higher when compared to FY 2021 and FY 2020, respectively. FY 2022 collections are 149.5% and 45.5%
higher when compared to FY 2021 and 2020, respectively. The permit revenue year to date is trending above budget therefore the outlook is considered positive.
City of Southlake Monthly Financial Report 4 6/16/2022
EXPENDITURE ANALYSIS
DEPARTMENTAL EXPENDITURES SUMMARY
FY
2022 ACTUAL
FY 2021 ACTUAL YTD
FY 2022 BUDGET
FY 2021/2022 YTD
YTD (MAY)
(MAY)
YTD (MAY)
VARIANCE
BUDGET VARIANCE
FY 2022 % SPENT
CIAO
$
675,236
$
534,755
$ 680,903
$
(140,481)
$
5,667
99.17%
COMM
$
324,317
$
322,207
$ 388,811
$
(2,110)
$
64,494
83.41%
CS
$
3,550,169
$
3,148,578
$ 4,288,212
$
(401,591)
$
738,043
82.79%
CSO
$
344,953
$
331,727
$ 394,833
$
(13,226)
$
49,880
87.37%
CPS
$
12,329,010
$
10,964,851
$ 12,818,194
$
(1,364,159)
$
489,184
96.18%
ED
$
195,172
$
97,173
$ 175,145
$
(97,999)
$
(20,027)
111.43%
FIN
$
1,615,754
$
1,558,266
$ 1,764,163
$
(57,488)
$
148,409
91.59%
HR
$
510,986
$
547,690
$ 604,623
$
36,704
$
93,637
84.51%
IT
$
2,114,741
$
1,925,985
$ 2,401,942
$
(188,756)
$
287,201
88.04%
PDS
$
1,377,388
$
1,364,970
$ 1,554,056
$
(12,418)
$
176,668
88.63%
PW
$
2,722,926
$
2,654,340
$ 3,276,936
$
(68,586)
$
554,010
83.09%
SS
$
1,146,506
$
1,228,818
$ 1,463,716
$
82,312
$
317,210
78.33%
Totals
$
26,907,158
$
24,679,360
$ 29,811,534
$
(2,227,798)
$
2,904,376
90.26%
FY 2022 ACTUAL YTD (MAY)
FY
2021 ACTUAL YTD (MAY) FY 2022 BUDGET YTD (MAY)
$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
i
$-
■ —
CMO
COMM
CS
CSO
DPS
ED FIN HR IT
PDS PW SS
CHART OUTLOOK: I
POSITIVE
As indicated above, 2022 expenditures are above 2021 expenditures for the
same period with
a increase of 9.0% primarily due to DPS expenditures eligible for CARES/grant funding and reduction in programing cost in FY
2021.The outlook is positive expenditures
are below budgeted
expenditures for the fiscal year.
City of Southlake Monthly Financial Report 5 6/16/2022
EXPERIENCE �
SOUTHLAKE
The Marq Financial Review
MARQ
84.09%
� vl.
65.12%
129.12%
Target
ATT
2.05M
2.44M
Revenue
Expense
10/112021 9/30/2022
CC
92.82%
71.01%
130.72%
Target
ATT
1.79M
I 1.12M
Revenue I Expense
Net Revenue: Current & Previous Year
CEDC FINANCIAL DASHBOARD
as ot5r 2022 12:30 PM
LH
51.06%
44.06% 1115.90%u
Target ATT
260.33K 308.46K
Revenue I Expense
CCR LHR Totaf Revenue LY
350K
300K
42K
25K 27i
250K 44K 54K 37K 221C 5w
4FK
45K 20K
201K
200K 32K .:18 SK 213K
® 170K
- --. 155K
150K
741*C 1�C
2153C 226K 211K Zd7K 209i( 235K 22W 295aC 22W 217K
100K 20PJ(
175K
50K
DK
May2021 Jn2021 Ju12021 Aun2021 Sep2021 0x2021 Nw2021 0-2021 Jan2022 F.1,2022 Ma2022 Apr2022 May2022
The Marq Rentals Revenue (Net)
S CrRental-Revenue LH4;tenLala2evenue
50K
40K
30K
20K
10(
May 2C21 Jan 2021 JW 2021 A. g 2C21 Sep 2021 D—, 2021 Nw 202t Lac 2021 Jan 2022 Feb 20M Mar 2022 Apr 2022 nay 2022
The Marq Membership Revenue (Net)
210K
200K
1901C
98CK
170K
100K
150K
140K
May 211Z1 Jun 2021 Jul 2021 Aug 211Z1 Sep 2021 Dd21Q7 Nw 2021 D-2u21 Jen 2022 Feb 2022 Mar 2022 Apr 2022 May 2022
CHAMPIONS CLUB MEMBERSHIP TRENDS
3000
28:
2800 26622679
2605 2585 /000
2600 / 2513 2521 2738
000 \ 22453 /�
000
2400 2327 2340 2504 252725 // 506 \ / \
2240 �� / --.. /► 0000
2378 2418 / 2458
Q 2200 \ /2331 2360 � 2289
22 2062
1956 2001
N 1968 ` 2084
L- 2000 - 2032 / 1958 /19411945
��. /—// _ _ 00
E 1955 1944
1800 '
1600
1� 188 178 179 1 1 4 1
1400 1
14
3
1200
1000 1 1 1 1 1
O O O O O O O O O O O O O O 7 O O O O O O O O O . . . O O O O
6) O) 6) O O O O O O CD CD O CD CD 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 N N
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 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 N N N N N N N N N N
Period
400
350
ill
250 N
C
O
.N
200
150 N
100
0
600
500
400
2
300
1
200
100 2
0
CC Membership Joins vs. Terminations, and Retention Rate (Month -to -Month)
through 4/30/2022
100.0%
' 1
1
1
1
0
1
1
1
1
1 50
1
149
101
224
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FaP
O� OHO OA 00 1 °1 4O N^ 0 O^ Off' O1 Off` Oh OHO OA 00 4P NO NN 0 O^ Off' OP Off` Ob OHO OA O`b 41 NO N^ �1
95.0%
90.0%
85.0%
80.0%
75.0%
70.0%
65.0%
60.0%
55.0%
50.0%
45.0%
40.0%
m Terminations
� Joins
Retention Rate
CC MEMBERSHIP JOINS VS TERMINATIONS BY MONTH & TYPE
■Adult Fam Fam-NC 6,SR *Youth
400
300
200
6
100 9
44
Member hips in 5..p ,i J i9
a 0
-100
28
18
8
15
10
13
16
5
26
8
8
7
16
77.
4
g
g
4
55
57
1 -
1 58
5
41
15
44
1
25
8
42
35
�
26
28
13
13
36
3020
i
1ti
ff
-12
-20
-20
-20
-28
-28
-30
-13
-51
-33
-25
-38
-49
-39
-26
SO
$
-43
-48
-
-12
-`�
-11
-10
7
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7 78
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f 43
20 -20 -21
64 --64 -21
27 -2S
46 -52
-13 -16 -62 -55 -3
7 -15
-12 -15
-12
_9
goo
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
Jul-21 Aug-21 Sep-21
Oct-21
Nov-21
Dec 24
Jan-22
Feb-22
Mar-22
Apr-22
FY2022 CC Membership Terminations by Reason and by Month
80
72
60
40
20
d
r Oct-21
� Nov-21
m Dec-21
m J ao-22
m Feb-22
m Mar-22
Apr-22
Unsatisfied with Fadlity or
Selected other service
Failed Payment
Not Utilising Membership
RelocatingJTravel
Transfer
Amenities
provider
No Reason! Other
fig
43
18
19
0
d
9
65
27
12
18
1
4
6
72
29
12
17
0
1
6
65
28
38
16
5
2
10
55
35
14
14
10
2
9
65
19
15
11
6
3
7
fit
22
23
14
7
3
16
44.2%
19.8%
12.9%
10.6%
2.8%
1.5%
6.0%
50.0%
45.0%
40.0%
35.0%
30.0%
25.0%
20.0%
15.0%
10.0%
5.0%
0.0%
EXPERIENCE
SOUTHLAKE
k
Three Year Revenue Comparison by Month
00
00
00
00
00
$o
M
FISCAL YEAR 2020 ■ FISCAL YEAR 2021 FISCAL YEAR 2022
EXPERIENCE
SOUTHLAI<,.,.,E