Item 3B2 Financial ReportCITY OF
S0UTHLA1<.,,..,E
MONTHLY FINANCIAL
REPORT
September 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.
City of Southlake Monthly Financial Report 1 10/12/2022
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY
National GDP: y -0.60%
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 "third" estimated GDP for the 2nd
quarter of 2022 decreased at a rate of 0.6%. In the 1st
$250,000,000
quarter of 2022, GDPdecreased at a rate of 1.6%.
$200,000,000
Housing Starts: V 12.2%
Housing starts in August were at a seasonally adjusted
rate of 1,575,000, which is 12.2% above the revised
previous month figure of 1,404,000 but 0.1% below
August 2021 rate of 1,576,000.
$150,000,000
$100,000,000
UNEMPLOYMENT RATES
National: 3.5%
The National Unemployment rate for September 2022
decreased slightly to 3.5% when compared to 3.7% in
August 2022.
$50,000,000
State-wide: 4.1 %
The Texas Unemployment rate for August 2022
(preliminary) increased slightly to 4.1% from 4.0% in
July 2022.
$-
2018* 2019* 2020* 2021* 2022*
DFW Area: 3.7%
*October - September
■ New Construction permit values
The Dallas/Fort Worth/Arlington Metropolitan Area
Wr
unemployment rate for August 2022 (preliminary)
decreased slightly to 3.7% when compared to 3.8% in
July 2022.
City of Southlake Monthly Financial Report 2 10/12/2022
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 $
Apr $
3,062,209
2,609,891
$ 3,845,975
$ 3,280,619
$
$
(783,766)
(670,728)
$8,000,000
$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 $
2,532,533
$ 3,456,517
$
(923,984)
$_
Sep $
2,638,390
$ 4,769,601
$
(2,131,211)
$(2,000,000)
Oct Nov Dec Jan Feb Mar Apr May Jun J Aug Sep
Tot $
54,248,777
$ 35,149,865
$
19,098,912
$(4,000,000)
CHART OUTLOOK:
POSITIVE
1
$(6,000,000)
The outlook
for the year is positive as revenues are outpacing expenditures by $19.1 M. There are year end expenditures (accurals) that will post over the next couple of weeks as we close the fiscal year financials. At the
end of the
fiscal year,
the excess revenue is
transferred
to the Strategic Initiative Fund and will assist with funding the approved Capital Improvement Plan and other approved initiatives. 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 $
Jan $
2,456,532
1,602,323
$ 1,926,407
$ 1,256,119
$
$
1,993,686
1,360,873
$2,500,000
Feb $
1,388,859
$ 978,395
$
1,011,429
$2,000,000
'
Mar $
1,975,175
$ 1,727,925
$
1,162,936
Apr $
1,714,270
$ 1,470,896
$
1,038,287
$1,500,000
■ .ow_
May $
Jun * $
1,725,777
1,792,755
$ 1,262,973
$ 2,586,036
$
$
1,153,263
1,375,636
$1,000,000
' ._
Jul $
1,607,427
$ 1,449,136
$
1,190,064
Aug $
1,659,141
$ 1,427,525
$
1,233,673
$500,000
Sep $
-
$ 1,687,605
$
1,416,226
Tot $
19,188,348
$ 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 (16.5%) and FY 2020 (36.0%) collections.June sales were 31% below June 2021 collections and 30% above June collections for June 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 10/12/2022
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
Mar $ 584,684
$ 411,151 $
420,930
$6,000,000
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 $ 69,630
$ 52,655 $
52,000
$(4,000,000)
Sep $ 111,205
$ 190,848 $
28,446
Tot $ 26,863,107
$ 26,100,905 $
25,357,489
* Net
transfer of TIF revenues to TIF
CHART OUTLOOK:
POSITIVE fund
2022 YTD property tax collections ($26,863,107)
are approximately 2.9% and 5.94% higher than 2021 YTD ($26,100,905) and 2020 YTD ($25,357,489), respectively as of September. 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 $ 184,578
$ 217,599 $
69,101
$200,000
Sep $ 5,
$ 2,655,879
$ ,$
$ 1,568,027 $
246,547
1,986,161
100,0
$00Tot
Oct Nov Dec Jan Feb Mar Apr May Jun
Jul Aug Sep
CHART OUTLOOK: POSITIVE
The value of new construction permits ($179.4M+) issued for FY 2022 YTD is approximately 33.3% and 40.9% higher when compared to FY 2021 and FY 2020, respectively. FY
2022 collections are 69.4% and 33.7%
higher when compared to FY 2021 and 2020, respectively.
Permit revenue exceeded the budget for the fiscal year therefore the outlook is considered positive.
City of Southlake Monthly Financial Report 4 10/12/2022
EXPENDITURE ANALYSIS
DEPARTMENTAL EXPENDITURES SUMMARY
FY 2022 ACTUAL
AMENDED FY 2022
FY 2021/2022 YTD
YTD
FY 2021 ACTUAL YTD
BUDGET YTD
VARIANCE
BUDGETVARIANCE
FY 2022%SPENT
CIVIC)
$
1,080,403
$
912,197
$ 1,081,377
$ (168,206)
$
974
99.91%
COMM
$
513,123
$
467,033
$ 543,716
$ (46,090)
$
30,593
94.37%
CS
$
5,948,673
$
5,337,901
$ 6,418,718
$ (610,772)
$
470,045
92.68%
CSO
$
570,443
$
541,041
$ 593,383
$ (29,402)
$
22,940
96.13%
DPS
$
12,109,633
$
18,242,756
$ 14,317,193
$ 6,133,123
$
2,207,560
84.58%
ED
$
299,258
$
161,419
$ 310,693
$ (137,839)
$
11,435
96.32%
FIN
$
2,480,894
$
2,377,585
$ 2,661,413
$ (103,309)
$
180,519
93.22%
HR
$
851,762
$
874,081
$ 912,815
$ 22,319
$
61,053
93.31%
IT
$
2,835,948
$
2,877,470
$ 3,116,373
$ 41,522
$
280,425
91.00%
PDS
$
2,294,977
$
2,203,104
$ 2,395,390
$ (91,873)
$
100,413
95.81%
PW
$
4,511,982
$
4,603,559
$ 4,924,069
$ 91,577
$
412,087
91.63%
SS
$
1,652,540
$
2,017,112
$ 1,889,598
$ 364,572
$
237,058
87.45%
Totals
$
35,149,636
$
40,615,258
$ 39,164,738
$ 5,465,622
$
4,015,102
89.75%
FY 2022
ACTUAL YTD FY 2021 ACTUAL YTD AMENDED FY 2022 BUDGET YTD
$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 below 2021 expenditures for the same period with a
significant
decrease of 13.5% 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.
or
-
City of Southlake Monthly Financial Report 5 10/12/2022
EXPERIENCE
SOUTHLAKE
September 27, 2022
The Marq Financial Review
CEDC FINANCIAL DASHBOARD
as of9f2712o22 12-36 PM
lorirzozl sr3or�ozz
The Marq Rentals Revenue (Net)
MARQ cc LH rCGRenla�Reuenue W Ren[a4J2erenue
86.66% 93.49% 60.81 % �K
50K
WK
65-12% 133-08%
71-01% 131-65%
44.05% 1138.01%
20K
Ta-nel ATT
Target :=TT
Target
ATi
3.50M 4.04M
2-99M 1-90M
513.46K I
519.79K 1
lac
1
Reverate I Expense
Revenue Expense
Revenue 1
Expense
CK
Sep 2021 Od 2421 Nov 2027 Rec 2021 Jen 24122 Feh 2072 Mir 2g22 Apr 2022 May 2022 Jun2022 Ju12022 Aug 2fF72 Sep 2022
Net Revenue- Current & Previous Year
The Marq Membership Revenue (Net)
CCR d LHR —ToU Revenue LY
350K
I
F
31111K
48K
27K 50K
51K 73K
��
58K
2A71(
�
201K
I.
250K
54K 37K
200!(
7�(1.
47K
2u1K
_
low
150K
®
700K 2021[ 217K 220i(
2501C
209K 235K 223K 245( 229K
309K 322K
293K
2B3E(
50K
50K
OK
Sep 2021 Rx2629 Nov m27
Oec Za21 1 3U3 Feh 2022 Mar 2022 Ppr 2�P2 May 2072 .kn 2N_2 Ju12022 Pay 3122 Scp 2Q22
OK
Sep 2021 Oct 2021 nw 2021 De 2021 Jan2022 Feb 2022 Mar2022 Apr 2i122 May 2M Jun 2022 Ji12022 Aug 2022 Sep 2022
CHAMPIONS CLUB MEMBERSHIP TRENDS
3500
3076
000
3000 2738 ` / 3131
2662 / 2989
Q / �2827
2574 2506 2521 � /� \
0 \ _ _ 2453 // \ 2679
Q 2500 2327 2378 2418 0o 2527 2502 2289 / / �\ / 2585
- J7 / � 2513
i I r_ % �I 2504 \ 1 `2444 2458
203�\2331 2340 2360 2273 2001 /
I %11�968 2084
2000 2240 2062 1956 1945 l/ /
1955 1958 1941 L 1944
1 1 1 1 1 1 1
1500 1 1
3
1000 9.
Lf� C0 r- 00 m O r N r N M qT L0 CO r` M M O r N r N M"t LO (0 1,- M M O r N r N M;I- LO CO ti 00
O O O O O r r 0 0 0 0 0 0 0 0 0--- 0 0 0 0 0 0 0 0 0--- O O O O O O O O
m� 0) m m 0) " O O'''' O O O O O O r r r r r r r r r r r r N N N N N N N N
N N 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
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 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 N N N N
Period
600
500
400
c
0
.N
300
CL
N
200
100
0
500
CC MEMBERSHIPS CHANGES BY FISCAL YEAR & MONTH (NEW FORMAT)
400
342
2
282
300
248
236
243
200
170
197
201
165
186
.
.
/
.
100
0
-100
-135
138
148
-127
146
-200
-164
-168
-180
-188
-203
-216
-300
000-
%.1000
-400
1
-500
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
FY2022 JOINS
170
197
201
248
165
186
236
342
291
243
282
�FY2022 TERMS
-164
-135
-138
-168
-148
-127
-146
-180
-203
-188
-216
t FY2019JOINS
412
333
224
201
144
t FY2019 TERMS
-86
-112
-124
-203
-164
tFY2020JOINS
122
138
157
206
187
63
0
0
127
70
91
128
t FY2020 TERMS
-124
-122
-102
-125
-120
-50
-78
-25
-371
-285
-198
-118
t FY2021JOINS
103
88
103
157
128
153
190
306
304
222
231
189
t FY2021 TERMS
-109
-87
-113
-155
-130
-96
-107
-101
-149
-160
-224
-250
FY2022
JOINS
FY2022
TERMS
�FY2019
JOINS
t FY2019
TERMS
m-Gw-FY2020
JOINS
�FY2020
TERMS
--Sm-FY2021
JOINS
t FY2021
TERMS
500
CC MEMBERSHIPS CHANGES BY FISCAL YEAR & MONTH (NEW FORMAT)
400
342
300
248
236
29
243
282
200
170
197
201
165
186
'
100
0
-100
-200
-164
-135
-138
-168
148
-127
-146
-180
203
-188
216
-300
OCT
NOV
DEC
JAN
FEB
MAR
APR
MAY
JUN
JUL
AUG
SEP
FY2022 JOINS
170
197
201
248
165
186
236
342
291
243
282
�FY2022 TERMS
-164
-135
-138
-168
-148
-127
-146
-180
-203
-188
-216
t FY2019JOINS
412
333
224
201
144
t FY2019 TERMS
-86
-112
-124
-203
-164
t FY2021JOINS
103
88
103
157
128
153
190
306
304
222
231
189
t FY2021 TERMS
-109
-87
-113
-155
-130
-96
-107
-101
-149
-160
-224
-250
FY2022
JOINS
FY2022
TERMS
t FY2019
JOINS
--Sm-FY2019
TERMS
t FY2021
JOINS
--9-FY2021
TERMS
CC MEMBERSHIP JOINS VS TERMINATIONS BY MONTH & TYPE
.Adult . Fam Fam-NC .SR .Youth
400
2C
28 18
300
52 23
19
14
+ 27 -4
$ .F
17 33
m
434
I 1
18 24
`'
20
19 19
5 �
10 '89
109 29
0
7 14 16Y
Mp�stefCw S19 10 M
82
77
19
100
ID {
-100
-200
-390
diM
1.?20 1 `I
'B S 7 18 To 77 I _ 5 60 5 f s5 T¢ j I II
41 g� 44 57 I36
I 93 II 78'
35 23 26
30
18
ill lit 11 � 1
r
20 � + , , 45 - r
--21
35 -51 -33 -25 -38 -49 -39 -20 -37 �0 -20 -2-34 -11
50 -'12 4 4 -10 -7 -11 A4 -45� -54 -52 40 �
-12 7 -73� -4 -58 -5. -a6 1 2 -55 -S -54 -do-7 15 -8 - -15
-0 -12 -55 -72
5
-fi $ - c -27 -11
A -TG.
_15 t`
-13
-560
E .G E .G E .G .G .G .E .G .E .G .G .G .G .G .G
H r r r r r r N r r r r r r r r r r r r r r r r r r r r r
Apr-20 May-20 Jun-20 JuF20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 JuF21 Aug-21 Sep-21 Oct-21 Nov-21 Oeo-21 Jan-22 Feb-22 Mar-22 Apr-22 Ma"2 Jun-22 Ju4-22 Aug-22
FY2022 CC Membership Terminations by Reason and by Month
100
80
69
60
40
20
0
79
Top Reason Given:
"I am too busy."
Failed Payment Not Utilizing Membership
� Oct-21
69
43
r Nov-21
65
27
m Dec-21
72
29
mJan-22
65
28
m Feb-22
55
35
m Mar-22
65
19
mApr-22
62
22
M May-22
66
38
mJun-22
66
42
JuF22
79
30
m Aug-22
66
44
Totals
730
357
%
40.3%
19.7%
19 1922
18 161411141218 15131216
1 510 �675525 4 6 9 7
Relocatingirravel
Transfer
Unsatisfied with Facility or
Selected other service
No Reason I Other
Amenlies
provider
18
19
0
0
9
12
18
1
4
6
12
17
0
1
6
38
16
5
2
10
14
14
10
2
9
15
11
6
3
7
23
14
7
3
15
45
12
5
1
13
54
18
5
6
12
40
19
2
2
16
51
22
5
3
25
322
180
46
27
128
17.8%
9.9%
2.5%
1.5%
7.1 %
25
Three Year Revenue Comparison by Month
5
FISCAL YEAR 2020 ■ FISCAL YEAR 2021 FISCAL YEAR 2022
EXPERIENCE
SOUTHLAI<,.,.,E