Item 3B1 Financial ReportCITY OF
S0UTHLA1<4,,E
MONTHLY FINANCIAL
REPORT
or— 11 1
July 2022
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.
City of Southlake Monthly Financial Report 1 8/12/2022
ECONOMIC INDICATORS
NATIONAL ECONOMY
6 -0.90%
FINANCIAL ACTIVITY
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 "advanced" estimated GDP for the 2nd
quarter of 2022 decreased at a rate of 0.9%. In the 1st $160,000,000
quarter of 2022, GDPdecreased at a rate of 1.6%.
$140,000,000
Housing Starts: 2.0%
Housing starts in June were at a seasonally adjusted $120,000,000
rate of 1,559,000, which is 2.0% below the revised
previous month figure of 1,591,000 and is 6.3% below $100,000,000
June 2021.
UNEMPLOYMENT RATES $80,000,000
National: 3.5%
$60,000,000
The National Unemployment rate for July 2022
decreased slightly to 3.5% when compared to 3.6% in
June 2022. $40,000,000
State-wide: V 4.1 %
The Texas Unemployment rate for June 2022
(preliminary) decreased slightly to 4.1% from 4.2% in
May 2022.
DFW Area: 3.8%
The Dallas/Fort Worth/Arlington Metropolitan Area
unemployment rate for June 2022 (preliminary)
increased slighlty to 3.8% when compared to 3.3% in
May 2022.
$20,000,000
2018* 2019* 2020* 2021*
*October- July ■ New Construction permit values
2022*
City of Southlake Monthly Financial Report 2 8/12/2022
1
0 GENERAL FUND
OVERALL FUND PERFORMANCE:
GENERAL FUND REVENUE VS EXPENDITURES 2022
FY 2022
FY 2022
FY 2022 REVENUE FY 2022 EXPENDITURE ---2021 EXPEND.
REVENUE
EXPENDITURE
VARIANCE
Oct $ 1,158,989
$ 2,430,309
$
(1,271,320)
$16,000,000
Nov $ 2,530,286
$ 3,030,028
$
(499,742)
$14,000,000
Dec $ 8,051,473
$ 4,395,374
$
3,656,099
$12,000,000
Jan $ 13,878,168
$ 3,110,936
$
10,767232
Feb $ 9,221,772
$ 3,292,649
$
5,929:123
$10,000,000
Mar $ 3,062,209
$ 3,845,975
$
(783,766)
$8,000,000
Apr $ 2,609,891
$ 3,280,619
$
(670,728)
$6,000,000
May $ 4,154,042
$ 3,546,371
$
607671
Jun $ 2,668,193
$ 3,787,807
$
(1,119:614)
$4,000,000
Jul * $ 1,742,831
$ (3,796,321)
$
5,539,152
$2,000,000
Aug $
$
$
$-
Oct Nov Dec Jan Feb Mar
Apr May Jun J Aug Sep
Sep $
$
$
$(2,000,000)
Tot $ 49,077,854 $ 26,923,747 $ 22,154,107
$(4,000,000)
CHART OUTLOOK:
POSITIVE
1
$(6,000,000)
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 $22.2M. The
significant variance is due to ARPA funding
received and
applied to Public
Safety expenditures during the month of July.
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2022-2020 COMPARISON
FY 2022
FY 2021
FY 2020
FY 2022 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
$ 1,926,407
$
1,993,686
$2,500,000
Jan $ 1,602,323
$ 1,256,119
$
1,360,873
Feb $ 1,388,859
$ 978,395
$
1,011,429
$2,000,000
'
Mar $ 1,714,270
$ 1,470,896
$
1,038,936
Apr $ 1,725,777
$ 1,262,973
$
287
1,153,263
$1,600,000
May $ 1,725,777
$ 1,262,973
$
1,153,263
'
Jun * $ 1,792,755
$ 2,586,036
$
1,375,636
$1,000,000
Jul $ -
$ 1,449,136
$
1,190,064
Aug $
$ 1,427,525
$
1,233,673
$500,000
Sep $
$ 1,687,605
$
1,416,226
Tot $ 15,921,780
$ 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 (17.1%)
and FY 2020 (36.3%) collections. The most recent collection for June sales
were 31% below June 2021 collections and 30% above June collections
forJune 2020. June
2021 collections included
an audit adjustment which represented 38% 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 8/12/2022
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 $8,000,000
Feb $ 5,872,247
$ 4,445,041 $
4,237,797
$6,000,000
Mar $ 584,684
$ 411,151 $
420,930
Apr $ 554,247
$ 259,058 $
55,958 $4,000,000
May $ 151,717
$ 152,945 $
105,567 $2,000,000 .■
Jun $ 502,344
$ 389,839 $
448,670 $-
Jul * $ (1,310,741)
$ (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 $ 26,682,272
$ 26,100,905 $
25,357,489
* Net
transfer of TIF revenues to TIF
CHART OUTLOOK:
POSITIVE fund
2022 YTD property tax
collections ($26,682,272) are higher than 2021 YTD ($25,857,402) and 2020 YTD ($25,277,043) 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 above 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
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 $ 788,270
$ 136,364 $
128,791 $400,000
Jun $ 133,244
$ 158,786 $
148,103
Jul $ 192,902
$ 170,985 $
152,920 $300,000
-
Aug $ -
Sep $ -
$ 217,599 $
$ 221,982 $
69,101 $200,000
246,547
■
�� -
_ '
Tot $ 2,318,960
$ 1,568,027 $
1,986,161 $100,000
■
'
$-
Oct Nov Dec Jan Feb Mar Apr May Jun
Jul Aug
Sep
CHART OUTLOOK: POSITIVE
The value of new construction permits ($152.2M+) issued for FY 2022 YTD is approximately 33.6% and 51.5% higher when compared to FY 2021 and FY 2020, respectively.
FY 2022 collections are 105.5%
and 38.8%
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 8/12/2022
EXPENDITURE ANALYSIS
DEPARTMENTAL EXPENDITURES SUMMARY
FY 2022 ACTUAL
FY 2021
ACTUAL YTD
FY 2022 BUDGET
FY 2021/2022 YTD
YTD (JULY)
(IULY)
YTD (JULY)
VARIANCE
BUDGET
VARIANCE FY
2022 %SPENT
CIVIC)
$
871,163
$
716,833
$ 878,814
$
(154,330)
$
7,651
99.13%
COMM
$
418,023
$
389,480
$ 478,297
$
(28,543)
$
60,274
87.40%
CS
$
4,781,525
$
4,219,615
$ 5,437,301
$
(561,910)
$
655,776
87.94%
CSO
$
458,908
$
426,340
$ 498,932
$
(32,568)
$
40,024
91.98%
DPS
$
8,193,674
$
14,597,011
$ 16,314,140
$
6,403,337
$
8,120,466
50.22%
ED
$
244,777
$
126,161
$ 218,483
$
(118,616)
$
(26,294)
112.03%
FIN
$
2,032,407
$
1,933,162
$ 2,159,668
$
(99,245)
$
127,261
94.11%
HR
$
675,048
$
640,657
$ 755,391
$
(34,391)
$
80,343
89.36%
IT
$
2,428,189
$
2,381,693
$ 2,816,086
$
(46,496)
$
387,897
86.23%
PDS
$
1,828,179
$
1,801,059
$ 1,993,047
$
(27,120)
$
164,868
91.73%
PW
$
3,694,737
$
3,407,089
$ 4,195,691
$
(287,648)
$
500,954
88.06%
SS
$
1,296,890
$
1,461,511
$ 1,827,384
$
164,621
$
530,494
70.97%
Totals
$
26,923,520
$
32,100,611
$ 37,573,234
$
5,177,091
$
10,649,714
71.66%
FY 2022 ACTUAL YTD (JULY)
FY 2021 ACTUAL YTD (JULY) FY 2022 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
r
$2,000,000
$-
■■
CMO
COMM
CS
CSO
DPS
ED FIN HR IT
PDS PW
SS
CHART OUTLOOK:
I
POSITIVE
As indicated above, 2022 expenditures are below 2021 expenditures for the same period with a significant decrease of 16.1 % due to DPS expenditures eligible for ARPA (American Rescue Plan Act).
It is important to note
ARPA funding is a
one-time funding source.
The outlook
is positive expenditures are below budgeted
expenditures for the fiscal year.
mu
-
City of Southlake Monthly Financial Report 5 8/12/2022
INVESTMENT REPORT
City of Southlake
April I to June 30, 2022
Hilltop Securities J�*
Contents Investment Management Team
Scott McIntyre
Market Recap . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Senior Portfolio Manager
572.481.2009
Investment Officers'Certification ...........................4 Scott.McIntyre@HilltopSecurities.com
Portfolio Overview....................................5
Portfolio Overview....................................6 Greg Warner
Senior Portfolio Manager
Asset Allocation......................................7 572.487.2072
Credit Rating Summary 8 Greg.Warner@HilltopSecurities.com
Benchmark Comparison.................................9
Fund Overview.....................................10 Jodi Jones
Investment Reporting Manager
Detail of Security Holdings..............................11 572.487.2076
Jodi.Jones@HilltopSecurities.com
Famed Income.....................................13
Investment Transactions................................15
Investment Transactions Totals ............................16
Amortization and Accretion .............................17
Projected Cash Flows..................................19
Projected Cash Flows Totals..............................21
Disclosures & Disclaimers...............................22
Page 2
Hilltop Securities J�*
Market Recap
The month of June wasn't pretty for investors, as stocks, bonds, gold and crypto all dropped.
Consumer confidence, which had held up reasonably well, plunged under the weight of
too much bad news. One of the primary drivers of pessimism was the May consumer price
index, which instead of retreating as expected, climbed from +8.2%to a new 41-year high
of +8.6% year-over-year.The main contributors to the unexpectedly hot report were food,
energy, autos, shelter costs, and travel and leisure services, all major drains on the average
consumer. Unfortunately, this troubling data was released during the Fed's 10-day blackout
period just before the June FOMC meeting, which meant Fed officials were prohibited from
speaking and unable to rein -in growing concerns. As a result, inflation expectations soared
along with bond yields.
At the June FOMC meeting, committee members succumbed to market pressure with the
first 75 basis point rate hike in 28 years. At the press conference that followed, Chair Powell
reiterated inflation was much too high, the Fed was committed to achieving price stability
and would need to see compelling evidence that inflation was coming down before
altering its course. The"course"at the time of the meeting was another 200 basis points of
rate increases before year end.
The positive response to Powell's pledge to tame inflation quickly evolved into concern
that the Fed would overtighten and tip the economy into recession. Powell stoked this
fear repeatedly during the month, asserting that inflation was the Fed's top priority and
implying that the economy could be sacrificed to achieve this objective. This tough talk was
necessary to preserve remaining Fed credibility but damaging to consumer confidence.
The FOMC decided months ago that its employment mandate has been met, pointing
to a +3.6% unemployment rate and overabundance of available jobs. The economic
slowdown Powell is orchestrating will reduce the number ofjob openings overtime, but
fast dwindling savings and bear market destruction of retirement accounts could have a
more immediate impact.The negative wealth effect of stock losses, and sagging confidence
contributed to the first contraction in monthly retail sales this yearThe -0.3%drop in May
City of Southlake
As of June 30, 2022
spending would have been considerably worse if not for large gains in grocery store and
gas station receipts, which were elevated by higher prices.
Rising prices are draining savings accounts, and record borrowing has thus far made up the
shortfall.The personal saving rate slipped to a 13-year-low of 5.4%, roughly half of where
it wasjust nine months earlier. At the same time, Federal Reserve data showed revolving
credit had risen +19.6%year-over-year in April to a new record high ofjust over $1.1 trillion.
The two-year Treasury -note yield started the month at 2.55%and climbed to 3.43%after
the CPI release before closing the month at 2.95% as recession concerns entered the
equation.The 12-month Treasury bill started June at 2.05%, peaked at 2.97%and closed the
month at 2.74%. This degree of market movement in such a short period of time, especially
on the short end of the curve, is almost unprecedented. The easy explanation is that buyers
outnumbered sellers, but the longer explanation is that inflation climbed beyond where
most experts expected. The things most Americans buy every day were front and center,
with the average price for a gallon of gas topping $5 per gallon for the first time in history.
At this point, the bond market has queued -up another 75-bp hike for July and 50-bps for
September, but as signs of weakness emerge talk has already begun of when monetary
policy could shift from tightening to easing.This won't happen in 2022 as inflation is
expected to remain very elevated, and a policy shift anytime during the next 12 months
would be a surprise. However, surprises have come with increasing frequency in recent
years and the unexpected has become commonplace.
Page 3
Hilltop Securities,.
Investment Officers'Certification
This report is prepared for the City of South lake (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 report 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 the
PFIA.
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.
City of Southlake
As of June 30, 2022
Investment Officers
Mary Morgan
Mary Morgan
Deputy Director of Finance
Sharen Jackson
Sharen Jackson
Chief Financial Officer
Page 4
Hilltop Securities J�*
Portfolio Overview
Portfolio Summary
ParValue
191,850,585.86
202,093,473.22
Original Cost
192,538,254.59
202,669,790.58
BookValue
192,190,771.04
202,275,557.78
Market Value
190,890,306.85
200,667,333.18
Accrued Interest
213,187.01
103,514.08
BookValue Plus Accrued
192,403,958.05
202,379,071.86
Market Value Plus Accrued
191,103,493.85
200,770,847.26
Net Unrealized Gain/Loss
(1,300,464.19)
(1,608,224.60)
Asset Allocation
City of Southlake
April 1, 2022 - June 30, 2022
Income Summary Portfolio Characteristics
Interest Income
$311,000.76
Yield to Maturity
0.289%
0.793%
Net Amortization/Accretion
($28,632.56)
Yield to Worst
0.289%
0.793%
Realized Gain/Loss
$0.00
Years to Final Maturity
0.49
0.37
Net Income
$282,368.20
Years to Effective Maturity
0.49
0.37
Duration
0.85
0.67
Transaction Summary
■ AGCY 4.94% Buy 20,000,000.00 (19,843,031.94) 0.00 (19,843,031.94) 0.00
■ AGCY CALL 2.47% Maturity (15,000,000.00) 15,000,000.00 0.00 15,000,000.00 0.00
■ CP 17.74% Coupon 0.00 0.00 277,786.32 277,786.32 0.00
■ LGIP46.52%
■ MUNI3.59%
■ US GOVT 24.73%
Page 5
Hillto Securities �
I�
lake
City J Se 30, 2022
As of June 30, 2022
Portfolio Overview
Maturity Distribution by Security Type
Top Ten Holdings
■ AGCY 4.94% ■ AGCY CALL 2.47% ■ CP 17.74% ■ LGIP 46.52%
Issuer
Allocation
■ MUNI3.59% USGOVT24.73%
United States Department of The Treasury
24.73%
75%
TEXPOOL
22.05%
TEXSTAR
9.53%
LONESTRGOV
6.30%
50%
LONESTRCRP
6.01 %
Federal Farm Credit Banks Funding Corporation
4.94%
25°'o
Toyota Motor Credit Corporation
4.91 %
16.1
11.4
8.9
Texas A&M University System Board of Regents
3.59%
5.6.2
9
Vanderbilt University
2.96%
0°k
TXCLASS
2.64%
, • , �h
Maturity Distribution by Security Type
iSecurityType Overnight 0-3 Months
3-6 Months 6-9 Months
9-12 Months 1-2Years 2-3 Years 3-4Years
4-5Years PortfolioTotal
AGCY
4,993,043.70 4,990,186.43
- - 9,983,230.13
AGCY CALL - -
-
- 5,000,000.00
- - 5,000,000.00
CID 10,000,000.00 17,962,668.05
2,985,974.99 4,941,388.89
- -
- - 35,890,031.93
LGIP 94,108,473.22 -
-
- -
- - 94,108,473.22
MUNI - -
2,603,174.32 4,664,574.87 -
- - 7,267,749.19
US GOVT 5,014,604.72
15,056,286.59 7,002,335.00
5,000,205.63 17,952,641.37
- - 50,026,073.31
Total 104,108,473.22 22,977,272.77
18,042,261.58 11,943,723.90
12,596,423.64 32,607,402.67 -
- - 202,275,557.78
Hilltop Securities J�*
Asset Allocation
Asset Allocation by Security Type as of
31-Mar-2022
■ AGCY 5.19%
■ AGCY CALL 2.60%
■ CP 18.71%
■ LGIP43.64%
■ MUNI3.81%
■ US GOVT 26.05%
Book Value Basis Security Distribution
City of Southlake
As of June 30, 2022
Asset Allocation by Security Type as of
30-Jun-2022
■ AGCY 4.94%
■ AGCY CALL 2.47%
■ CP 17.74%
■ LGIP46.52%
■ MUNI3.59%
■ US GOVT 24.73%
AGCY
9,979,612.35
5.19%
(0.26%)
9,983,230.13
4.94%
0.408%
AGCY CALL
5,000,000.00
2.60%
(0.13%)
5,000,000.00
2.47%
0.800%
CP
35,953,733.35
18.71%
(0.96%)
35,890,031.93
17.74%
0.954%
LGIP
83,865,585.86
43.64%
2.89%
94,108,473.22
46.52%
1.027%
MUNI
7,321,141.54
3.81%
(0.22%)
7,267,749.19
3.59%
0.350%
US GOVL
50,070,697.94
26.05%
(1.32%)
50,026,073.31
24.73%
0.377%
Portfolio Total
192,190,771.04
100.00%
202,275,557.78
100.000/0
0.793%
Page 7
Hilltop Securities J�*
Credit Rating Summary
Rating Distribution
Local Government Investment Pools & Money Market Funds
AAA
94,108,473.22
46.52%
Total Local Government Investment Pools & Money Market Funds
94,108,473.22
46.52%
Short Term Rating Distribution
A-1+
25,911,420.82
12.81 %
A-1
9,978,611.11
4.93%
Total Short Term Rating Distribution
35,890,031.93
17.74%
Long Term Rating Distribution
AAA
72,277,052.63
35.73%
Total Long Term Rating Distribution
72,277,052.63
35.73%
PortfolioTotal
202,275,557.78
100.000/0
City of Southlake
As of June 30, 2022
Allocation by Rating
■ A-1+12.81% ■ A-14.93% ■ AAA82.26%
Hilltop Securities.
Benchmark Comparison
- 3 Month CMT - 6 Month CMT - 1 Year CMT - TexPool - City of Southlake
1.00%
0.50%
City of Southlake
As of June 30, 2022
0.00%
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-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22
Yield Overview
3 Month CMT
0.14
0.13
0.11
0.10
0.10
0.09
0.09
0.07
0.05
0.03
0.02
0.02
0.04
0.05
0.05
0.05
0.05
0.05
0.08
0.17
0.30
0.51
0.73
1.09
6 Month CMT
0.40
0.18
0.15
0.14
0.13
0.11
0.11
0.10
0.08
0.07
0.06
0.05
0.05
0.05
0.05
0.05
0.06
0.07
0.12
0.21
0.34
0.54
0.78
1.12
1 Year CMT
1.02
0.88
0.74
0.62
0.50
0.38
0.25
0.15
0.13
0.12
0.11
0.10
0.09
0.09
0.08
0.08
0.09
0.10
0.14
0.21
0.32
0.47
0.64
0.85
TexPool
0.21
0.18
0.15
0.13
0.12
0.09
0.08
0.04
0.02
0.01
0.01
0.01
0.02
0.02
0.03
0.04
0.04
0.04
0.04
0.06
0.15
0.30
0.62
1.00
Cityof5outhlake
0.82
0.73
0.68
0.52
0.40
034
0.24
0.20
0.09
0.09
0.09
0.08
0.09
0.09
0.09
0.11
0.13
0.16
0.16
0.21
0.29
0.44
059
0.79
Hilltop Securities J�*
Fund Overview
1�111i�
General Operating
City of Southlake
As of June 30, 2022
192,190,771.04 190,890,306.85 9,777,026.33 202,275,557.78 200,667,333.18 282,368.20 134 0.793% 0.793%
Total 192,190,771.04 190,890,306.85 9,777,02633 202,275,557.78 200,667,333.18 282,368.20 134 0.793% 0.793%
Page 10
Hilltop Securities J�*
Detail of Security Holdings
General Operating
City of Southlake
As of June 30, 2022
LNSTCRP
LGIP
LoneStarCorpO/N
06/30/22
12,165,436.15 100.000
12,165,436.15
12,165,436.15
100.000
12,165,436.15
1
1.182
1.182
AAA
LNSTGOV
LGIP
LoneStarGovO/N
06/30/22
12,737,806.16 100.000
12,737,806.16
12,737,806.16
100.000
12,737,806.16
1
0.977
0.977
AAA
TEXPOOL
LGIP
TexPool
06/30/22
44,594,453.26 100.000
44,594,453.26
44,594,453.26
100.000
44,594,453.26
1
1,001
1.001
AAA
TEXSTAR
LGIP
TexSTAR
06/30/22
19,279,662.48 100.000
19,279,662.48
19,279,662.48
100.000
19,279,662.48
1
0.985
0.985
AAA
TXCLASS
LGIP
Texas CLASS
06/30/22
5,331,115.17 100.000
5,331,115.17
5,331,115.17
100.000
5,331,115.17
1
1.158
1.158
AAA
46640QG13
10/05/21
CP
J.P. Morgan Securities LLC
0.000
07/01/22
5,000,000.00 99.873
4,993,648.60
5,000,000.00
99.995
4,999,755.00
1
0.170
0.170
A-1
The Permanent University
91512DG13
10/05/21
CP
Fund
0.000
07/01/22
5,000,000.00 99.895
4,994,769.45
5,000,000.00
100.000
5,000,000.00
1
0.140
0.140
A-1+
Toyota Motor Credit
89233HHK3
11/23/21
CP
0.000
08/19/22
5,000,000.00 99.768
4,988,418.05
4,997,890.27
99.725
4,986,245.00
50
0.310
0.310
A-1+
Corporation
Kaiser Foundation
48306BJ71
04/06/22
CP
0.000
09/07/22
5,000,000.00 99.487
4,974,333.33
4,988,666.67
99.622
4,981,085.00
69
1.207
1.207
A-1+
Hospitals
92181PJE3
01/12/22
CP
Vanderbilt University
0.000
09/14/22
3,000,000.00 99.728
2,991,833.33
2,997,500.01
99.917
2,997,500.00
76
0.401
0.401
A-1+
912828YF1
09/28/21
USGOVT
UNITED STATES TREASURY
1.500
09/15/22
5,000,000.00 101.363
5,068,164.06
5,014,604.72
99.953
4,997,656.25
77
0.085
0.085
AAA
07286NJG5
06/16/22
CP
Baylor University
0.000
09/16/22
5,000,000.00 99.489
4,974,444.44
4,978,611.11
99.572
4,978,611.11
78
2.015
2.015
A-1
912828YKO
02/10/22
USGOVT
UNITED STATESTREASURY
1.375
10/15/22
5,000,000.00 100.449
5,022,460.94
5,009,637.66
99.797
4,989,843.75
107
0.707
0.707
AAA
912828TY6
09/28/21
USGOVT
UNITED STATESTREASURY
1.625
11/15/22
5,000,000.00 101.707
5,085,351.56
5,028,119.44
99.734
4,986,718.75
138
0.113
0.113
AAA
92181PM17
03/09/22
CP
Vanderbilt University
0.000
12/01/22
3,000,000.00 99.184
2,975,525.00
2,985,974.99
99.532
2,985,975.00
154
1.107
1.107
A-1+
912828YW4
02/10/22
USGOVT
UNITED STATES TREASURY
1.625
12/15/22
5,000,000.00 100.684
5,034,179.69
5,018,529.49
99.625
4,981,250.00
168
0.810
0.810
AAA
Toyota Motor Credit
89233HNH3
04/25/22
CP
0.000
01/17/23
5,000,000.00 98.435
4,921,754.17
4,941,388.89
98.378
4,918,910.00
201
2.138
2.138
A-1+
Corporation
91282CBG5
02/02/22
USGOVT
UNITED STATES TREASURY
0.125
01/31/23
2,000,000.00 99.344
1,986,875.00
1,992,298.10
98.562
1,971,250.00
215
0.789
0.789
AAA
912828ZD5
10/15/21
USGOVT
UNITED STATES TREASURY
0.500
03/15/23
5,000,000.00 100.402
5,020,117.20
5,010,036.90
98.422
4,921,093.75
258
0.215
0.215
AAA
912828ZH6
10/14/21
USGOVT
UNITED STATES TREASURY
0.250
04/15/23
5,000,000.00 100.008
5,000,390.65
5,000,205.63
97.984
4,899,218.75
289
0.245
0.245
AAA
8821356W1
10/28/20
MUNI
TEXAS A & M UNIV REVS
5.000
05/15/23 05/15/23 Continuous
2,500,000.00 112.026
2,800,650.00
2,603,174.32
102.627
2,565,675.00
319
319 0.260
0.260
AAA
FEDERAL FARM CREDIT
3133EMH96
06/25/21
AGCY
0.125
06/14/23
5,000,000.00 99.713
4,985,650.00
4,993,043.70
97.430
4,871,495.00
349
0.271
0.271
AAA
BANKS FUNDING CORP
912828ZY9
12/15/21
USGOVT
UNITED STATESTREASURY
0.125
07/15/23
5,000,000.00 99.359
4,967,968.75
4,978,973.18
97.141
4,857,031.25
380
0.532
0.532
AAA
91282CCU3
08/31/21
USGOVT
UNITED STATESTREASURY
0.125
08/31/23
4,000,000.00 99.766
3,990,625.00
3,994,530.45
96.781
3,871,250.00
427
0.243
0.243
AAA
91282CAK7
08/26/21
USGOVT
UNITED STATESTREASURY
0.125
09/15/23
4,000,000.00 99.750
3,990,000.00
3,994,121.40
96.656
3,866,250.00
442
0.247
0.247
AAA
91282CAP6
10/14/21
USGOVT
UNITED STATESTREASURY
0.125
10/15/23
5,000,000.00 99.535
4,976,757.80
4,985,016.35
96.453
4,822,656.25
472
0.358
0.358
AAA
Page 11
Hilltop Securities J�*
Detail of Security Holdings
City of Southlake
As of June 30, 2022
FEDERAL FARM CREDIT
3133ENDR8
11/15/21 AGCY
0.400 11/09/23 5,000,000.00 99.713
4,985,665.00
4,990,186A3 96.639
4,831,970.00
497
0.545 0.545 AAA
BANKS FUNDING CORP
313OAQAFO
12/22/21 AGCY CALL FEDERAL HOME LOAN
0.800 12/22/23 09/22/22 Quarterly 5,000,000.00 100.000
5,000,000.00
5,000,000.00 96.866
4,843,280.00
540
84 0.800 0.800 AAA
BANKS
88213AKBO
09/29/20 MUNI TEXAS A & M UNIV REVS
2.549 05/15/24 4,485,000.00 107.731
4,831,735.35
4,664,574.87 98.866
4,434,140.10
685
0.400 0.400 AAA
Total General
Operating
202,093,473.22
202,669,790.58
202,275,557.78
200,667,333.18
134
164 0.793 0.793
Grand Total
20ZO93,473.22
202,669,79058
202,275,557.78
200,667,333.18
134
164 0.793 0.793
Page 12
Hilltop Securities J�*
Earned Income
General Operating
48306BD51
CID
Kaiser Foundation Hospitals0.004/05/2022
89233HDN1
CID
Toyota Motor Credit Corporation 0.0 04/22/2022
07286NFG9
CID
Baylor University 0.0 06/16/2022
LNSTCRP
LGIP
LoneStarCorp C/N 0.006/30/2022
LNSTGOV
LGIP
LoneStar Gov C/N 0.0 06/30/2022
TEXPOOL
LGIP
TexPool 0.0 06/30/2022
TEXSTAR
LGIP
TexSTAR 0.0 06/30/2022
TXCLASS
LGIP
Texas CLASS 0.0 06/30/2022
46640QG13
CID
J.P. Morgan Securities LLC0.007/01/2022
91512DG13
CID
The Permanent University Fund 0.0 07/01/2022
89233HHK3
CID
Toyota Motor Credit Corporation 0.0 08/19/2022
48306BJ71
CID
Kaiser Foundation Hospitals0.009/07/2022
92181PJE3
CID
Vanderbilt University 0.0 09/14/2022
912828YF1
US GOVT
UNITED STATESTREASURY 1.5 09/15/2022
07286NJG5
CID
Baylor University 0.0 09/16/2022
912828YKO
US GOVT
UNITED STATESTREASURY 1.37510/15/2022
912828TY6
US GOVT
UNITED STATESTREASURY 1.62511/15/2022
92181PM17
CID
Vanderbilt University 0.0 12/01/2022
912828YW4
US GOVT
UNITED STATESTREASURY 1.62512/15/2022
89233HNH3
CID
Toyota Motor Credit Corporation 0.0 01/17/2023
91282CBG5
US GOVT
UNITED STATESTREASURY 0.125 01/31/2023
912828ZD5
US GOVT
UNITED STATESTREASURY 0.5 03/15/2023
912828ZH6
US GOVT
UNITED STATESTREASURY 0.25 04/15/2023
8821356W1
MUNI
TEXAS A & M UNIV REVS 5.0 05/15/2033
FEDERAL FARM CREDIT BANKS FUNDING CORP
3133EMH96
AGCY
0.125 06/14/2023
912828ZY9
US GOVT
UNITED STATESTREASURY 0.125 07/15/2023
91282CCU3
US GOVT
UNITED STATESTREASURY 0.125 08/31/2023
91282CAK7
US GOVT
UNITED STATESTREASURY 0.125 09/15/2023
91282CAP6
US GOVT
UNITED STATESTREASURY0.12510/15/2023
City of Southlake
As of June 30, 2022
0.00
0.00
0.00
0.00
0.00
66.65
0.00
66.65
0.00
0.00
0.00
0.00
0.00
437.50
0.00
437.50
0.00
0.00
0.00
0.00
0.00
7,916.65
0.00
7,916.65
0.00
24,478.89
24,478.89
0.00
0.00
0.00
0.00
24,478.89
0.00
19,014.54
19,014.54
0.00
0.00
0.00
0.00
19,014.54
0.00
57,323.29
57,323.29
0.00
0.00
0.00
0.00
57,323.29
0.00
31,260.15
31,260.15
0.00
0.00
0.00
0.00
31,260.15
0.00
10,810.49
10,810.49
0.00
0.00
0.00
0.00
10,810.49
0.00
0.00
0.00
0.00
0.00
2,148.60
0.00
2,148.60
0.00
0.00
0.00
0.00
0.00
1,769.45
0.00
1,769.45
0.00
0.00
0.00
0.00
0.00
3,918.07
0.00
3,918.07
0.00
0.00
0.00
0.00
0.00
14,333.34
0.00
14,333.34
0.00
0.00
0.00
0.00
0.00
3,033.33
0.00
3,033.33
3,464.67
18,546.20
0.00
0.00
22,010.87
(17,487.23)
0.00
1,058.97
0.00
0.00
0.00
0.00
0.00
4,166.67
0.00
4,166.67
31,730.77
17,108.03
34,375.00
0.00
14,463.80
(8,274.09)
0.00
8,833.94
30,749.31
20,252.73
40,625.00
0.00
10,377.04
(18,822.21)
0.00
1,430.52
0.00
0.00
0.00
0.00
0.00
8,341.67
0.00
8,341.67
23,883.93
20,292.98
40,625.00
0.00
3,551.91
(10,098.91)
0.00
10,194.07
0.00
0.00
0.00
0.00
0.00
19,634.72
0.00
19,634.72
414.36
628.45
0.00
0.00
1,042.82
3,312.68
0.00
3,941.13
1,154.89
6,182.07
0.00
0.00
7,336.96
(3,510.15)
0.00
2,671.92
5,769.23
3,110.55
6,250.00
0.00
2,629.78
(64.47)
0.00
3,046.08
47,222.22
31,250.00
62,500.00
0.00
15,972.22
(29,521.88)
0.00
1,728.12
1,857.64
1,562.50
3,125.00
0.00
295.14
1,815.95
0.00
3,378.45
1,312.15
1,571.13
0.00
0.00
2,883.29
5,073.03
0.00
6,644.16
434.78
1,236.41
0.00
0.00
1,671.20
1,158.61
0.00
2,395.03
230.98
1,236.41
0.00
0.00
1,467.39
1,203.12
0.00
2,439.53
2,884.62
1,555.28
3,125.00
0.00
1,314.89
2,885.00
0.00
4,440.27
Page 13
Hilltop Securities J�*
Earned Income
City of Southlake
As of June 30, 2022
3133ENDR8
AGCY FEDERAL FARM CREDIT BANKS FUNDING CORP OA
7,888.89
5,000.00
10,000.00
0.00
2,888.89
1,801.83
0.00
6,801.83
11/09/2023
313OAQAFO
AGCY CALL FEDERAL HOME LOAN BANKS 0.812/22/2023
11,000.00
10,000.00
20,000.00
0.00
1,000.00
0.00
0.00
10,000.00
88213AKBO
MUNI TEXAS A & M UNIV REVS 2.549 05/15/2024
43,188.56
28,580.66
57,161.32
0.00
14,607.89
(23,870.47)
0.00
4,710.19
Total General
Operating
213,187.01
311,000.76
420,673.68
0.00
103,514.08
(28,632.56)
0.00
282,368.20
Grand Total
213,187.01
311,000.76
420,673.68
0.00
103,514.08
(28,632.56)
0.00
282,368.20
Page 14
Hilltop Securities J�*
Investment Transactions
General
Operating
Buy
City of Southlake
As of June 30, 2022
48306BJ71
04/05/22
04/06/22
CP
Kaiser Foundation Hospitals
0.000
09/07/22
5,000,000.00
99.487
(4,974,333.33)
0.00
(4,974,333.33)
0.00
1.207 1.207
89233HNH3
04/22/22
04/25/22
CP
Toyota Motor Credit Corporation
0.000
01/17/23
5,000,000.00
98A35
(4,921,754.17)
0.00
(4,921,754.17)
0.00
2.138 2.138
07286NJG5
06/16/22
06/16/22
CP
Baylor University
0.000
09/16/22
5,000,000.00
99.489
(4,974,444.44)
0.00
(4,974,444.44)
0.00
2.015 2.015
91512DJV4
06/30/22
07/01/22
CP
The Permanent University Fund
0.000
09/29/22
5,000,000.00
99.450
(4,972,500.00)
0.00
(4,972,500.00)
0.00
2.218 2.218
Total Buy
20,000,000.00
(19,843,031.94)
0.00
(19,843,031.94)
0.00
Coupon
912828YKO
04/15/22
04/15/22
USGOVT
UNITED STATESTREASURY
1.375
10/15/22
0.00
0.00
34,375.00
34,375.00
0.00
- -
912828ZH6
04/15/22
04/15/22
USGOVT
UNITED STATESTREASURY
0.250
04/15/23
0.00
0.00
6,250.00
6,250.00
0.00
- -
91282CAP6
04/15/22
04/15/22
USGOVT
UNITED STATESTREASURY
0.125
10/15/23
0.00
0.00
3,125.00
3,125.00
0.00
- -
3133ENDR8
05/09/22
05/09/22
AGCY
FEDERAL FARM CREDIT BANKS
0.400
11/09/23
0.00
0.00
10,000.00
10,000.00
0.00
- -
FUNDING CORP
8821356W1
05/15/22
05/15/22
MUNI
TEXAS A& M LIN IV REVS
5.000
05/15/23 05/15/23
0.00
0.00
62,500.00
62,500.00
0.00
- -
912828TY6
05/15/22
05/15/22
USGOVT
UNITED STATESTREASURY
1.625
11/15/22
0.00
0.00
40,625.00
40,625.00
0.00
- -
88213AKB0
05/15/22
05/15/22
MUNI
TEXAS A & M UN IV REVS
2.549
05/15/24
0.00
0.00
57,161.32
57,161.32
0.00
- -
FEDERAL FARM CREDIT BANKS
3133EMH96
06/14/22
06/14/22
AGCY
0.125
06/14/23
0.00
0.00
3,125.00
3,125.00
0.00
- -
FUNDING CORP
912828YW4
06/15/22
06/15/22
USGOVT
UNITED STATESTREASURY
1.625
12/15/22
0.00
0.00
40,625.00
40,625.00
0.00
- -
3130AQAF0
06/22/22
06/22/22
AGCY CALL
FEDERAL HOME LOAN BANKS
0.800
12/22/23 09/22/22
0.00
0.00
20,000.00
20,000.00
0.00
- -
Total Coupon
0.00
0.00
277,786.32
277,786.32
0.00
Maturity
48306BD51
04/05/22
04/05/22
CP
Kaiser Foundation Hospitals
0.000
04/05/22
(5,000,000.00)
100.000
5,000,000.00
0.00
5,000,000.00
0.00
- -
89233HDN1
04/22/22
04/22/22
CP
Toyota Motor Credit Corporation
0.000
04/22/22
(5,000,000.00)
100.000
5,000,000.00
0.00
5,000,000.00
0.00
-
07286NFG9
06/16/22
06/16/22
CP
Baylor University
0.000
06/16/22
(5,000,000.00)
100.000
5,000,000.00
0.00
5,000,000.00
0.00
- -
Total Maturity
(15AW,000.00)
15,000,000.00
0.00
15,000,000.00
0.00
Page 15
Hilltop Securities J�*
Investment Transactions Totals
City of Southlake
As of June 30, 2022
Total Buy
20,000,000.00
(19,843,031.94)
0.00
(19,843,031.94)
0.00 1.894 1.894
Total Maturity
(15,000,000.00)
15,000,000.00
0.00
15,000,000.00
0.00 0.000 0.000
Total Coupon
0.00
0.00
277,786.32
277,786.32
0.00
Hilltop Securities J�*
Amortization and Accretion
General Operating
48306BD51
10/05/21
CP
Kaiser Foundation Hospitals 0.004/05/2022
89233HDNI
07/27/21
CP
Toyota Motor Credit Corporation 0.0 04/22/2022
07286NFG9
03/17/22
CP
Baylor University 0.0 06/16/2022
46640OG13
10/05/21
CP
J.P. Morgan Securities LLC 0.0 07/01/2022
91512DG13
10/05/21
CP
The Permanent University Fund 0.0 07/01/2022
89233HHK3
11/23/21
CP
Toyota Motor Credit Corporation 0.0 08/19/2022
48306BJ71
04/06/22
CP
Kaiser Foundation Hospitals 0.009/07/2022
92181PJE3
01/12/22
CP
Vanderbilt University 0.0 09/14/2022
912828YF1
09/28/21
USGOVT
UNITED STATESTREASURY 1.5 09/15/2022
07286NJG5
06/16/22
CP
Baylor University 0.0 09/16/2022
912828YKO
02/10/22
USGOVT
UNITED STATESTREASURY 1.375 10/15/2022
912828TY6
09/28/21
USGOVT
UNITED STATESTREASURY 1.625 11/15/2022
92181PM17
03/09/22
CP
Vanderbilt University 0.0 12/01/2022
912828YW4
02/10/22
USGOVT
UNITED STATESTREASURY 1.625 12/15/2022
89233HNH3
04/25/22
CP
Toyota Motor Credit Corporation 0.0 01/17/2023
91282CBG5
02/02/22
USGOVT
UNITED STATESTREASURY 0.125 01/31/2023
912828ZD5
10/15/21
USGOVT
UNITED STATESTREASURY 0.5 03/15/2023
912828ZH6
10/14/21
USGOVT
UNITED STATESTREASURY 0.25 04/15/2023
8821356W1
10/28/20
MUNI
TEXAS A & M UNIV REVS 5.005/15/2033
3133EMH96
06/25/21
AGCY
FEDERAL FARM CREDIT BANKS FUNDING CORP 0.125 06/14/2023
912828ZY9
12/15/21
USGOVT
UNITED STATES TREASURY 0.12507/15/2023
91282CCU3
08/31/21
USGOVT
UNITED STATES TREASURY 0.12508/31/2023
91282CAK7
08/26/21
USGOVT
UNITED STATES TREASURY 0.12509/15/2023
91282CAP6
10/14/21
USGOVT
UNITED STATES TREASURY 0.12510/15/2023
3133ENDR8
11/15/21
AGCY
FEDERAL FARM CREDIT BANKS FUNDING CORP 0.411/09/2023
313OAQAFO
12/22/21
AGCY CALL
FEDERAL HOME LOAN BANKS 0.812/22/2023
88213AKBO
09/29/20
MUNI
TEXAS A & M UNIV REVS 2.549 05/15/2024
Total General
Operating
City of Southlake
As of June 30, 2022
0.00
0.000
0.00
66.65
0.00
0.00
0.00
0.00
0.000
0.00
437.50
0.00
0.00
0.00
0.00
0.000
0.00
7,916.65
0.00
0.00
0.00
5,000,000.00
99.873
4,993,648.60
2,148.60
6,351.40
0.00
5,000,000.00
5,000,000.00
99.895
4,994,769.45
1,769.45
5,230.55
0.00
5,000,000.00
5,000,000.00
99.768
4,988,418.05
3,918.07
9,472.22
(2,109.73)
4,997,890.27
5,000,000.00
99.487
4,974,333.33
14,333.34
14,333.34
(11,333.33)
4,988,666.67
3,000,000.00
99.728
2,991,833.33
3,033.33
5,666.68
(2,499.99)
2,997,500.01
5,000,000.00
101.363
5,068,164.06
(17,487.23)
(53,559.34)
14,604.72
5,014,604.72
5,000,000.00
99.489
4,974,444.44
4,166.67
4,166.67
(21,388.89)
4,978,611.11
5,000,000.00
100.449
5,022,460.94
(8,274.09)
(12,823.28)
9,637.66
5,009,637.66
5,000,000.00
101.707
5,085,351.56
(18,822.21)
(57,232.12)
28,119.44
5,028,119.44
3,000,000.00
99.184
2,975,525.00
8,341.67
10,449.99
(14,025.01)
2,985,974.99
5,000,000.00
100.684
5,034,179.69
(10,098.91)
(15,650.20)
18,529.49
5,018,529.49
5,000,000.00
98.435
4,921,754.17
19,634.72
19,634.72
(58,611.11)
4,941,388.89
2,000,000.00
99.344
1,986,875.00
3,312.68
5,423.10
(7,701.90)
1,992,298.10
5,000,000.00
100.402
5,020,117.20
(3,510.15)
(10,080.29)
10,036.90
5,010,036.90
5,000,000.00
100.008
5,000,390.65
(64.47)
(185.03)
205.63
5,000,205.63
2,500,000.00
112.026
2,800,650.00
(29,521.88)
(197,475.68)
103,174.32
2,603,174.32
5,000,000.00
99.713
4,985,650.00
1,815.95
7,393.70
(6,956.30)
4,993,043.70
5,000,000.00
99.359
4,967,968.75
5,073.03
11,004.43
(21,026.82)
4,978,973.18
4,000,000.00
99.766
3,990,625.00
1,158.61
3,905.45
(5,469.55)
3,994,530.45
4,000,000.00
99.750
3,990,000.00
1,203.12
4,121.40
(5,878.60)
3,994,121.40
5,000,000.00
99.535
4,976,757.80
2,885.00
8,258.55
(14,983.65)
4,985,016.35
5,000,000.00
99.713
4,985,665.00
1,801.83
4,521.43
(9,813.57)
4,990,186.43
5,000,000.00
100.000
5,000,000.00
0.00
0.00
0.00
5,000,000.00
4,485,000.00
107.731
4,831,735.35
(23,870.47)
(167,160.48)
179,574.87
4,664,574.87
107,985,000.00 108,561,317.36 (28,632.56) (394,232.80) 182,084.56 108,167,084.56
Page 17
Hilltop Securities.
Amortization and Accretion
Grand Total 107,985,000.00 108,561,317.36 (28,632.56) (394,232.80)
City of Southlake
As of June 30, 2022
182,08456 108,167,084.56
Page 18
Hilltop Securities J�*
Projected Cash Flows
General Operating
City of Southlake
June 30, 2022 to June 30, 2023
91512DG13
The Permanent University Fund 0.0 07/01/2022
07/01/22
5,000,000.00
5,000,000.00
46640QG13
J.P. Morgan Securities LLC0.007/01/2022
07/01/22
5,000,000.00
5,000,000.00
912828ZY9
UNITED STATESTREASURY 0.125 07/15/2023
07/15/22
3,125.00
3,125.00
91282CBG5
UNITED STATESTREASURY 0.125 01/31/2023
08/01/22
1,250.00
1,250.00
89233HHK3
Toyota Motor Credit Corporation 0.0 08/19/2022
08/19/22
5,000,000.00
5,000,000.00
91282CCU3
UNITED STATESTREASURY 0.125 08/31/2023
08/31/22
2,500.00
2,500.00
48306BJ71
Kaiser Foundation Hospitals 0.0 09/07/2022
09/07/22
5,000,000.00
5,000,000.00
92181PJE3
Vanderbilt University 0.0 09/14/2022
09/14/22
3,000,000.00
3,000,000.00
912828YF1
UNITED STATESTREASURY 1.5 09/15/2022
09/15/22
37,500.00
37,500.00
912828YF1
UNITED STATESTREASURY 1.5 09/15/2022
09/15/22
5,000,000.00
5,000,000.00
912828ZD5
UNITED STATESTREASURY0.503/15/2023
09/15/22
12,500.00
12,500.00
91282CAK7
UNITED STATESTREASURY0.1 25 09/15/2023
09/15/22
2,500.00
2,500.00
07286NJG5
Baylor University 0.0 09/16/2022
09/16/22
5,000,000.00
5,000,000.00
91512DJV4
The Permanent University Fund 0.009/29/2022
09/29/22
5,000,000.00
5,000,000.00
912828YKO
UNITED STATESTREASURY 1.375 10/15/2022
10/17/22
34,375.00
34,375.00
912828YKO
UNITED STATESTREASURY 1.375 10/15/2022
10/17/22
5,000,000.00
5,000,000.00
912828ZH6
UNITED STATESTREASURY0.2504/15/2023
10/17/22
6,250.00
6,250.00
91282CAP6
UNITED STATESTREASURY0.1 25 10/15/2023
10/17/22
3,125.00
3,125.00
3133ENDR8
FEDERAL FARM CREDIT BANKS FUNDING CORP 0.411/09/2023
11/09/22
10,000.00
10,000.00
8821356W1
TEXAS A & M UN IV REVS 5.0 05/15/2033
11/15/22
62,500.00
62,500.00
88213AKBO
TEXAS A & M UN IV REVS 2.549 05/15/2024
11/15/22
57,161.32
57,161.32
912828TY6
UNITED STATESTREASURY 1.625 11/15/2022
11/15/22
40,625.00
40,625.00
912828TY6
UNITED STATESTREASURY 1.625 11/15/2022
11/15/22
5,000,000.00
5,000,000.00
92181PM17
Vanderbilt University 0.0 12/01/2022
12/01/22
3,000,000.00
3,000,000.00
3133EMH96
FEDERAL FARM CREDIT BANKS FUNDING CORP 0.125 06/14/2023
12/14/22
3,125.00
3,125.00
912828YW4
UNITED STATESTREASURY 1.625 12/15/2022
12/15/22
40,625.00
40,625.00
912828YW4
UNITED STATESTREASURY 1.625 12/15/2022
12/15/22
5,000,000.00
5,000,000.00
313OAQAFO
FEDERAL HOME LOAN BANKS 0.812/22/2023
12/22/22
20,000.00
20,000.00
89233HNH3
Toyota Motor Credit Corporation 0.0 01/17/2023
01/17/23
5,000,000.00
5,000,000.00
912828ZY9
UNITED STATESTREASURY0.1 25 07/15/2023
01/17/23
3,125.00
3,125.00
Page 19
Hilltop Securities J�*
Projected Cash Flows
City of Southlake
June 30, 2022 to June 30, 2023
91282CBG5
UNITED STATESTREASURY0.1 25 01/31/2023
01/31/23
1,250.00
1,250.00
91282CBG5
UNITED STATESTREASURY 0.125 01/31/2023
01/31/23
2,000,000.00
2,000,000.00
91282CCU3
UNITED STATESTREASURY0.1 25 08/31/2023
02/28/23
2,500.00
2,500.00
912828ZD5
UNITED STATESTREASURY0.503/15/2023
03/15/23
12,500.00
12,500.00
912828ZD5
UNITED STATESTREASURY 0.5 03/15/2023
03/15/23
5,000,000.00
5,000,000.00
91282CAK7
UNITED STATESTREASURY0.1 25 09/15/2023
03/15/23
2,500.00
2,500.00
912828ZH6
UNITED STATESTREASURY0.2504/15/2023
04/17/23
6,250.00
6,250.00
912828ZH6
UNITED STATESTREASURY 0.25 04/15/2023
04/17/23
5,000,000.00
5,000,000.00
91282CAP6
UNITED STATESTREASURY0.1 25 10/15/2023
04/17/23
3,125.00
3,125.00
3133ENDR8
FEDERAL FARM CREDIT BANKS FUNDING CORP 0.411/09/2023
05/09/23
10,000.00
10,000.00
8821356W1
TEXAS A & M UN IV REVS 5.0 05/15/2033
05/15/23
62,500.00
62,500.00
8821356WI
TEXAS A & M UN IV REVS 5.0 05/15/2033
05/15/23
2,500,000.00
2,500,000.00
88213AKBO
TEXAS A & M UN IV REVS 2.549 05/15/2024
05/15/23
57,161.32
57,161.32
3133EMH96
FEDERAL FARM CREDIT BANKS FUNDING CORP 0.125 06/14/2023
06/14/23
3,125.00
3,125.00
3133EMH96
FEDERAL FARM CREDIT BANKS FUNDING CORP 0.125 06/14/2023
06/14/23
5,000,000.00
5,000,000.00
313OAQAFO
FEDERAL HOME LOAN BANKS 0.812/22/2023
06/22/23
20,000.00
20,000.00
Grand Total
521,197.65
80,500,000.00
81,021,197.65
Page 20
Hilltop Securities J�*
Projected Cash Flows Totals
City of Southlake
June 30, 2022 to June 30, 2023
July 2022
3,125.00
10,000,000.00
10,003,125.00
August 2022
3,750.00
5,000,000.00
5,003,750.00
September 2022
52,500.00
23,000,000.00
23,052,500.00
October 2022
43,750.00
5,000,000.00
5,043,750.00
November 2022
170,286.32
5,000,000.00
5,170,286.32
December 2022
63,750.00
8,000,000.00
8,063,750.00
January 2023
4,375.00
7,000,000.00
7,004,375.00
February 2023
2,500.00
2,500.00
March 2023
15,000.00
5,000,000.00
5,015,000.00
April 2023
9,375.00
5,000,000.00
5,009,375.00
May 2023
129,661.32
2,500,000.00
2,629,661.32
June 2023
23,125.00
5,000,000.00
5,023,125.00
Total
521,197.65
80,500,000.00
81,021,197.65
$30,000,000
$20,000,000
$10,000,000
j0
Jul-22 Aug-22 Sep-22
■ Interest ■ Principal
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
Page 21
lake
Hillto Securities � City J Se 30, 2022
i� As of June 30, 2022
Disclosures & Disclaimers
As a courtesy to investors this information: (1) is provided for informational purposes only; (2) should not be construed as an offer to sell or a solicitation of an offer to buy any security; and (3) does not replace customer statements
This report is designed to provide general information and is not intended to provide specific legal, investment, accounting, tax or other professional advice.
It is important to review and save all source documents provided by a product sponsor or brokerage firm which may contain notices, disclosures and other information important to you and may also serve as a reference. If conflicts between this
report and sponsor reports or confirmations exist, the information provided by the product sponsors shall prevail. Fees and sales charges paid may not be reflected in the information.
The information and data contained herein is obtained from sources believed to be reliable but its accuracy or completeness is not guaranteed. Additionally, the information may contain assets held away from HTS, therefore investors should contact
customer service or other representatives from the respective distributors or issuers to determine SIPC coverage for heldaway assets. HTS and HSAM do not guarantee the information contained herein or its accuracy or completeness regarding
contributions, withdrawals, protected values. All information is subject to further review with client to validate final values.
It is not possible to directly invest in an index. Financial forecasts, rates of return, risk, inflation, and other assumptions may be used as the basis for illustrations.They should not be considered a guarantee offuture performance or a guarantee of
achieving overall financial objectives. Past performance is not a guarantee or a predictor of future results of either the indices or any particular investment. S&P rates the creditworthiness of individual bonds from: AAA highest to D lowest.
Investing in fixed income securities involves interest rate risk, credit risk, and inflation risk. Interest rate risk is the possibility that bond prices will decrease because of an interest rate increase. When interest rates rise, bond prices and the values offixed
income securities fall. When interest rates fall, bond prices and the values of fixed income securities rise. Credit risk is the risk that a company will not be able to pay its debts, including the interest on its bonds. Inflation risk is the possibility that the
interest paid on an investment in bonds will be lower than the inflation rate, decreasing purchasing power.
Cash alternatives typically include money market securities and U.S. treasury bills. Investing in such cash alternatives involves inflation risk. In addition, investments in money market securities may involve credit risk and a risk of principal loss. Because
money market securities are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency, there is no guarantee the value of your investment will be maintained at $1.00 per share, and your shares,
when sold, may be worth more or less than what you originally paid for them. U.S. Treasury bills are subject to market risk if sold prior to maturity. Market risk is the possibility that the value, when sold, might be less than the purchase price.
Investing in stock securities involves volatility risk, market risk, business risk, and industry risk. The prices of most stocks fluctuate. Volatility risk is the chance that the value of a stock will fall. Market risk is the chance that the prices of all stocks will fall
due to conditions in the economic environment. Business risk is the chance that a specific company's stock will fall because of issues affecting it. Industry risk is the chance that a set offactors particular to an industry group will adversely affect stock
prices within the industry.
Securities offered by HTS: (1) are not FDIC (Federal Deposit Insurance Corporation) insured; (2) are not bank deposits; (3) are not guaranteed by any bank or by any other federal government agency. None ofthe named entities are affiliates of HTS or
HSAM.Hilltop Securities Asset Management (HSAM) is an SEC -registered investment advisor. Hilltop Securities Inc. (HTS) is a registered broker -dealer, registered investment adviser and municipal advisor firm that does not provide tax or legal advice.
Member of FINRA & SIPC. HTS and HSAM are wholly owned subsidiaries of Hilltop Holdings, Inc. (NYSE: HTH) located at 717 N. Harwood St., Suite 3400, Dallas,Texas 75201, (214) 859-1800, 833-4HILLTOP.
Copyright 2022, S&P Global Market Intelligence. Reproduction of any information, data or material, including ratings ("Content") in any form is prohibited except with the prior written permission ofthe relevant party. Such party, its affiliates and
suppliers ("Content Providers") do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless ofthe cause, or for the results
obtained from the use of such Content. In no event shall. Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use ofthe Content.
A reference to a particular investment or security, a rating or any observation concerning an investment that is part of the content is not a recommendation to buy, sell or hold such investment or security, does not address the suitability of an
investment or security and should not be relied on as investment advice. Credit ratings are statements of opinions and are not statements of fact.
Page 22
EXPERIENCE
SOUTHLAKE
June 28, 2022
The Marq Financial Review
MARQ
86.21 %
65.12%
132 39%
Target
ATT
2.43M
2.82M
Revenue
Expense
i011�L021 913[1Y2022
CC
94.47%
CEDC FINANCIAL DASHBOARD
as of6282022 12-44 PM
LH
54.83%
•CC-Re�ds�Ra+�tue L.M-12en�1-Revenue
50K
rTj
WKK
The Marq Rentals Revenue (Net)
2�
71 011 %
1133.04%
44 06%
124.44%
I
Tar
ATT
Tar
ATT
_
10V(
2.11M
1.31M
321.52K
355.75K
Revenue
Expense
Revenue
E1perse nK
Jun 2021 Jul 2021 Aug 2021 ^..W 2621 0k32021 Nov 2021 ^- - 202t Jan 2022 Feb 2022 Mar 2072 P4r2022 Lby 21122 Jun 2022
Net Revenue- Current & Previous Year
CCR LRR —Tool Revefue LY
3WK 33K
42K i
9SK
250K 25K 27K.
44K 22♦C
54K 37K
45K 41K
VMK
200K7$.,
- -..�. Im
150K
283K
29yK 245K 250C
100K Jw
22BK 2n22351C( 211K 220K 2DW 223K 223C
50K
OK
"2021 JW202t Ag2021 Sep2021 OM2021 N-2021 Oec2a21 Jan2022 Feb= Mw2022 Apr= F&y2022 J=2022
The Marq Membership Revenue (Net)
200K
150C
100K
50K
1K
J_2021 JW M21 AW2021 Sep 2ffi1 Od2021 tkv2021 Dl 2021 Jan 2022 Feb 2022 Lim 2022 Apr 2022 A3y 2022 Jun 2022
3500
i111
Q. 2500
t
L
d
E
22000
1500
1000
CHAMPIONS CLUB MEMBERSHIP TRENDS
3,078 as of 6/28/22
r 600
2738 28277 I�
2662 2679 I
2585 I _ 1000
2506 2513 2521 1000
00 2444 ' I 2453 2458 I�
2574 2605 � 100
/ �' — I �
— 2378
�504 2527 250� 228�
� \ � 000 2418 I
2331 2327 2340 2360
20/240
2273� 1968 2001 208
`
1958 1956 1941 1945 1944 I
I I000 2062 ,00
�
1955
LO (O h N O 00
O
O O O O O O NON N "I- Ln
OOOOO N9 9 OO 00
O O
NNNNNN NNNNNO O O O OOOO NN 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 O
N N N N N N N N N N N N N N N N N N N NNNNNNNNN N N N N N N N N N
Period
500
400
C
0
300
Q
N
cn
200
100
0
600
500
400
300
200
100
CC Membership Joins vs. Terminations, and Retention Rate (Month -to -Month) through 5/31/2022
100.0%
95.0%
90.0%
85.0% � Terminations
1
80.0% � Joins
2 9
1 I 75.0% Retention Rate
4 8
0 146 70.0%
1
1 5 8
1 1 51 ' 7 4 8 65.0%
1 1 1 1 8 130 96 60.0 %
1 1 55.0%
c
50 1 1 50.0%
s.
78
45.0%
0 25 40.0%
ISP
o'` o'` o'` o'` o'` o'` o'` o'` otiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotiotioti
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 ti ti ti ti ti ti ti ti ti ti ti
CC MEMBERSHIP JOINS VS TERMINATIONS BY MONTH & TYPE
■Adult Fam Fam-NC MSR ■Youth
400
300
200
15
100 9
44
M—b—hi� m Sm -& d 19
Stains 1
4 0
-100
-2011
. -300
Imp. F L-id-11
1■■3
4 8 $
5 41
35
28 18
14
$ 18 —
19 19
15 9
i 16 80 1
16 5 13 15, 82
20 65 62 17 . 19
74
ifi 77 _ 60 56 63 _
154 55 67
44 57j rf 1 �i 36 36 20
.25 26 42 28 f 30 29 33 3T',
p17 18 36 m43
4 rrii Jj
.1
7 -20 -28 I30 -20 -20 -13 �I� i. -20 -21
' -28
51 -33 -43 Ir 4.,, -38 -49 -39 -26 -34 37 i,27 -26
-8 1 Y'° -10 A& -64 -46 -64
12 -# -17 -73 L817, 4 -g .7 -S� f �Q - 42 -SS -8
.g 1S II -13 -1fi
15
13 -89 -g -12 -15
2 -11 .8
15
-15
-13
Im
-509
oa m
c
n m
e
m
¢
» .a
c
oa w
.Q
ec
.e e
m
S
.4
eo
.4 €
.9
w m
.2 c
on
e
m .n
e
.4
oc m
e
.q
ro w
.e
m oa
S
w
c
.Q €
w N
�e
c
.a
m
c
w en
.5 €
on a
e
�q
m w
e
.Q
a w
on
E
w o
e
�o
oc
g
.p
o
'
4
p a,
U.p
Y
4
7
9 b
G
4
a
a,C5
o
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-24
JuF21
Aug-21
Sep-21
Oct-21
Nov-21
Oac21
Jan-22
Feb-22
Mar-22
Apr-22
May-22
FY2022 CC Membership Terminations by Reason and by Month
80
r4
60
40
20
0
Failed Payment
Not Utilizing Membership Relocatingffravel Transfer
m Oct-21
69
43
18
19
Nov-21
65
27
12
18
r• Dec-21
72
29
12
17
mJan-22
65
28
38
16
m Feb-22
55
35
14
14
mMar--22
65
19
15
11
m Apr-22
62
22
23
14
mMay-22
66
38
45
12
Tatals
519
241
177
121
%
43.1%
20.D%
14.7%
10.0%
15 13
19 9 10 9
5 fttiA 6 7
p 1 4 2 2 3 3 1
Unsatisfied with 5eleded other service
Amenities provider No Reason I Other
0 0 9
1 4 6
0 1 6
5 2 10
10 2 9
6 3 7
7 3 15
5 1 13
34 16 75
2.8% 1.3% 6.2%
EXPERIENCE
SOUTHLAKE
k
Three Year Revenue Comparison by Month
5
FISCAL YEAR 2020 ■ FISCAL YEAR 2021 FISCAL YEAR 2022
EXPERIENCE
SOUTHLAI<,.,.,E