Item 3B2 - Financial ReportReference
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GENERAL FUND
PositiveGeneral Fund Exp. Vs. Rev.
Sales Tax Revenue (2 months prior activity)
Property Tax Revenue
Positive
Positive Positive
Positive
Positive
PERFORMANCE INDICATORS
Positive
Warning
Permit Revenues
Positive Positive
Departmental Expenditures Summary Positive
= Negative variance of 1-4% compared to seasonal trends
= Positive variance or negative variance <1% compared to seasonal trends.
PERFORMANCE AT A GLANCE
Year to Date 3 year Trend
Negative
MONTHLY FINANCIAL REPORT
May 2023
= Negative Variance of > 4% compared to seasonal trends.
Positive
City of Southlake Monthly Financial Report 1 6/14/2023
National GDP:
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY1.3%
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 secoond estimated GDP for the1st
quarter of 2023 increased at a rate of 1.3%. In the 4th
quarter of 2022, GDP increased at a rate of 2.6%.
The National Unemployment rate for May 2023 slight
increase to 3.7% when compared to 3.4% in April 2023.
National:
5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES
Housing Starts:
Housing starts in April were at a seasonally adjusted
rate of 1,401,000, which is 2.2% above the revised
previous month figure of 1,371,000.
2.2%
UNEMPLOYMENT RATES
3.7%
The Dallas/Fort Worth/Arlington Metropolitan Area
unemployment rate for April 2023 (preliminary)
decreased slightly to 3.4% when compared to 3.9% in
March 2023.
3,4%
State-wide:4.0%
The Texas Unemployment rate for April 2023
(preliminary) remained unchanged at 4.0% from March
2023.
DFW Area:
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
2019*2020*2021*2022*2023*
New Construction permit values*October -May
City of Southlake Monthly Financial Report 2 6/14/2023
GENERAL FUND
FY 2023
REVENUE
FY 2023
EXPENDITURE VARIANCE
Oct 604,909$ 2,824,040$ (2,219,131)$
Nov 2,466,143$ 3,685,749$ (1,219,606)$
Dec 7,240,751$ 4,390,002$ 2,850,749$
Jan 15,429,638$ 3,413,662$ 12,015,976$
Feb 10,368,200$ 3,355,416$ 7,012,784$
Mar 2,797,920$ 3,506,641$ (708,721)$
Apr 2,312,660$ 3,879,766$ (1,567,106)$
May 3,643,729$ 3,841,619$ (197,890)$
Jun -$ -$ -$
Jul -$ -$ -$
Aug -$ -$ -$
Sep -$ -$ -$
Tot 44,863,950$ 28,896,895$ 15,967,055$
POSITIVE
FY 2023 FY 2022 FY 2021
Oct 1,814,981$ 1,613,415$ 1,299,576$
Nov 1,813,575$ 1,652,674$ 1,084,677$
Dec 2,507,299$ 2,456,532$ 1,926,407$
Jan 1,539,514$ 1,602,323$ 1,256,119$
Feb 1,436,621$ 1,388,859$ 978,395$
Mar 1,836,177$ 1,975,175$ 1,727,925$
Apr 1,708,466$ 1,714,270$ 1,470,896$
May -$ 1,725,777$ 1,262,973$
Jun -$ 1,792,755$ 2,586,036$
Jul -$ 1,607,427$ 1,449,136$
Aug -$ 1,659,141$ 1,427,525$
Sep -$ 1,640,639$ 1,687,605$
Tot 12,656,633$ 20,828,987$ 18,157,270$
POSITIVE
Year to date sales tax collections are trending above FY 2022 (2.0%)and FY 2021 (29.9%)collections.However,March collections were 7.0%lower than March collections for FY 2022 due to a large audit adjustment.
Year to date collections are above budget for the year however staff will coninue to closely mointor collections.
GENERAL FUND REVENUE VS EXPENDITURES 2022
OVERALL FUND PERFORMANCE:
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2023-2021 COMPARISON
CHART OUTLOOK:
CHART OUTLOOK:
The outlook for the year is positive as overall revenues and expenditures are on target with budget.The revenues are higher than expenditures by approximately $16.0M.The significant variance is due to the significant
portion of property tax revenue collected (approximately 98%) of the budgeted property tax revenue which is the largest revenue sources for the general fund.
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
FY 2023 FY 2022 FY 2021
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2023 REVENUE FY 2023 EXPENDITURE 2022 EXPEND.
City of Southlake Monthly Financial Report 3 6/14/2023
GENERAL FUND
FY 2023 FY 2022 FY 2021
Oct 380,169$ 653,703$ 778,578$
Nov 2,011,080$ 2,017,203$ 1,582,957$
Dec 4,964,620$ 6,068,454$ 6,036,699$
Jan 12,756,146$ 11,588,414$ 13,167,125$
Feb 6,290,070$ 5,872,247$ 4,445,041$
Mar 560,775$ 584,684$ 411,151$
Apr 221,968$ 554,247$ 259,058$
May 158,917$ 151,717$ 152,945$
Jun -$ 502,344$ 389,839$
Jul *-$ (1,310,741)$ (1,365,991)$
Aug -$ 69,630$ 52,655$
Sep -$ 111,205$ 190,848$
Tot 27,343,745$ 26,863,107$ 26,100,905$
POSITIVE
FY 2023 FY 2022 FY 2021
Oct 137,332$ 214,445$ 50,043$
Nov 118,803$ 185,109$ 69,734$
Dec 88,212$ 94,663$ 102,515$
Jan 231,884$ 167,045$ 88,737$
Feb 249,097$ 111,545$ 76,270$
Mar 98,675$ 154,046$ 150,142$
Apr 77,670$ 277,691$ 124,870$
May 187,731$ 788,270$ 136,364$
Jun -$ 133,244$ 158,786$
Jul -$ 192,902$ 170,985$
Aug -$ 184,578$ 217,599$
Sep -$ 154,833$ 221,982$
Tot 1,189,404$ 2,658,371$ 1,568,027$
POSITIVE
As of May the 2023 YTD property tax collections ($27,343,745)are approximately 0.53%less than 2022 YTD ($27,490,669)and 1.90%higher than 2021 YTD ($26,833,554).As indicated on the chart,the majority of the
property tax revenue is collected in the second quarter of the fiscal year. YTD collections are trending below budget.
* Net transfer of TIF revenues to TIF
fund
The value of new construction permits ($84.2M+)issued for FY 2023 YTD is approximately 2.1%less than FY 2022 and 48.4%higher than FY 2021 permit values.FY 2023 YTD permit revenue is 40.3%below and 48.9%
higher when compared to FY 2022 and 2021, respectively. The permit revenue year to date is trending above budget therefore the outlook is considered positive.
PERMIT REVENUE 2023-2021 COMPARISON
CHART OUTLOOK:
REVENUE ANALYSIS (continued)
PROPERTY TAX 3 YEAR TREND
CHART OUTLOOK:
$(4,000,000)
$(2,000,000)
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul *Aug
FY 2023 FY 2022 FY 2021
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2023 FY 2022 FY 2021
City of Southlake Monthly Financial Report 4 6/14/2023
FY 2023 ACTUAL
YTD (MAY)
FY 2022 ACTUAL YTD
(MAY)
FY 2023 BUDGET
YTD (MAY)FY 2023 % SPENT
679,882$ 675,236$ 721,347$ 94.25%
405,433$ 324,317$ 471,231$ 86.04%
4,004,046$ 3,550,169$ 4,276,154$ 93.64%
371,954$ 344,953$ 424,631$ 87.59%
12,536,503$ 12,329,010$ 14,515,030$ 86.37%
206,847$ 195,172$ 238,471$ 86.74%
1,815,155$ 1,615,754$ 2,084,948$ 87.06%
598,817$ 510,986$ 663,394$ 90.27%
2,132,339$ 2,114,741$ 2,590,332$ 82.32%
1,509,938$ 1,377,388$ 1,670,523$ 90.39%
3,277,135$ 2,722,926$ 3,621,560$ 90.49%
1,358,846$ 1,146,506$ 1,796,441$ 75.64%
28,896,895$ 26,907,158$ 33,074,062$ 87.37%4,177,167$
CHART OUTLOOK:
437,595$
344,425$
87,831$
160,585$ PDS
BUDGET VARIANCE
41,465$
272,108$
132,550$
554,209$
212,340$
1,989,737$
As indicated above,2023 expenditures are above 2022 expenditures for the same period with a increase of 7.4%.The primary reasons for the increase are due to payroll increases.The outlook is positive expenditures are
below budgeted expenditures for the fiscal year.
FY 2022/2023 YTD
VARIANCE
4,646$
453,877$
27,001$
207,493$
11,675$
199,401$
SS
Totals
PW
CMO
CS
17,598$
52,677$
1,978,527$
31,624$
269,793$
64,577$
457,993$
CSO
DPS
ED
FIN
HR
IT
DEPARTMENTAL EXPENDITURES SUMMARY
81,116$ 65,798$ COMM
EXPENDITURE ANALYSIS
POSITIVE
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
CMO COMM CS CSO DPS ED FIN HR IT PDS PW SS
FY 2023 ACTUAL YTD (MAY)FY 2022 ACTUAL YTD (MAY)FY 2023 BUDGET YTD (MAY)
City of Southlake Monthly Financial Report 5 6/14/2023
The Marq Financial Review
May 23, 2023
MARQ
77.80%
1D1112D22 913012D23
cc
83.75%
CEDC FINANCIAL DASHBOARD
as or:W31202310445AM
LH
54.67%
59.90% 1129.88% I I 67.20% 124.63% 33.50% 163.18%
Target ATT Target I ATT Target ATT
2.81 M 3.61 M 2.40M 2.87M 403.77K 738.61 K
Revenue Expense Revenue Eq>ense Revenue Expense
Net Revenue: Current & Previous Year
CCR LHR —Total RerenFe LY
30K
cJgK Bg� � 31K B1K
SBIC � 59K
300K q8K 93K
28BIC 25TO ��
250K
277K
2321(
200K _
150K WOK 302K 293K 302K 28 K 290K 31BK �K 31BK 304K 283K
275K
2A1(
100K
50K
OK
Wy2022 Jn20.22 Jul2O22 Ag2O22 EV2022 Od2022 Hw2022 3.A22 J-223 F.1,2023 Ma3023 Apr223 May21M
The Marq Rentals Revenue (Net)
OCCRenb&Renerare LH-Rentai-Revenue
BOK
58KK
30K
28K
10K ... .... .......... ....
OK
Mal= Jun 2U22 Ju12022 Aug 2022 Sep 2022 Od 2022 N-2022 Oleo 2022 Jan 2023 Feb 2023 U-21123 Apr2023 Amy 2023
The Marq Membership Revenue (Net)
25W
200K
15W
10OK
50K
OK
Amy 2022 Jun 2022 Jul 2022 Aug 222 Sep 2022 Od 2022 P6v 2022 13 c2022 Jan 2023 Feb 2023 Mar2023 Apr 2023 Ma72023
31
142
183 188 178 179 186 184 177 153
123
70 27 17 24 1 1 -1 1 1 ------
2605
2527 2502
2273
2062
1955 1968 1958 1956 1941 1945 1944 2001
2084
2289
2444
2506 25132458
2521 25852662
2679 2738
2827
2989
3076
3131 3197 3153 3162 3230
3291
3365 3371 34133441
0
100
200
300
400
500
600
700
800
900
1000
1500
2000
2500
3000
3500
4000
2020-032020-042020-052020-062020-072020-082020-092020-102020-112020-122021-012021-022021-032021-042021-052021-062021-072021-082021-102021-112021-122022-012022-022022-032022-042022-052022-062022-072022-082022-092022-102022-112022-122023-012023-022023-032023-04SuspensionsMembershipsPeriod
CHAMPIONS CLUB MEMBERSHIP TRENDS
JOINS TERMS JOINS TERMS JOINS TERMS JOINS TERMS
FY2020 FY2021 FY2022 FY2023
ADULT 379 -360 588 -410 780 -568 449 -341
FAM 224 -414 424 -334 565 -391 343 -292
FAM-NC 479 -700 804 -698 931 -761 503 -447
SENIOR 112 -140 201 -124 274 -165 185 -138
YOUTH 82 -66 157 -115 197 -156 106 -78
TOTALS 1276 -1680 2174 -1681 2747 -2041 1586 -1296
NET -404 493 706 290
379
-360
588
-410
780
-568
449
-341
224
-414
424
-334
565
-391
343
-292
479
-700
804
-698
931
-761
503
-447
112
-140
201
-124
274
-165
185
-138
82
-66
157
-115
197
-156
106
-78
-3000
-2000
-1000
0
1000
2000
3000
-1000
-800
-600
-400
-200
0
200
400
600
800
1000
1200
MULTI-YEAR MEMBERSHIPS ANALYSIS BY MEMBERSHIP TYPE
ADULT FAM FAM-NC SENIOR YOUTH TOTALS NET
FY2023 CC Membership Terminations by Reason and by Month
100 94
80
60
40
20
0
� Oct-22
� Nov-22
m Dec-22
mJan-23
m Feb-23
m Mar-23
mApr-23
m May-23
mJun-23
Jul-23
mAug-23
m Sep-23
Totals
Failed Payment
71
94
81
67
82
73
72
0
0
0
0
0
540
41.7%
Top Reason
I am *a
54
35
2429 27
25
0 00000
Not Utilizing Membership
54
29
29
36
41
37
27
0
0
0
0
0
253
19.5%
50
_00000
Relocat riglTravel
25
16
19
50
21
26
26
0
0
0
0
0
183
14.1%
3028
34400040
000000'3
Unsatisfied with Facilfy or
Transfer
Amendies
22
3
19
2
23
3
30
4
28
3
18
4
20
4
0
0
0
0
0
0
0
0
0
0
160
23
12.3%
1.840
55 fi
1 111
Selected other service
provider
5
5
1
6
1
1
1
0
0
0
0
0
20
1.5°0
192121 17 18
_0000 0
No Reason 1 Other
19
21
21
12
17
9
18
0
0
0
0
0
117
9.0%
Sales Tax Update
Sales Tax Collections
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
Three Year Revenue Comparison by Month
FISCAL YEAR 2021 FISCAL YEAR 2022 Fiscal Year 2023
Questions?