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
July 2023
= Negative Variance of > 4% compared to seasonal trends.
Positive
City of Southlake Monthly Financial Report 1 8/10/2023
National GDP:
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY2.4%
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 "advance"
estimated GDP for the 2nd quarter of 2023 increased at a rate
of 2.4%. In the 3rd quarter of 2023, GDP increased at a rate of
2.0%.
The National Unemployment rate for July 2023 slight decrease
to 3.5% when compared to 3.6% in June 2023.
National:
5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES
Housing Starts:
Housing starts in June were at a seasonally adjusted rate of
1,434,000, which is 8.0% below the revised previous month
figure of 1,561,000.
8.00%
UNEMPLOYMENT RATES
3.5%
The Dallas/Fort Worth/Arlington Metropolitan Area
unemployment rate for June 2023 (preliminary) increased
slightly to 3.9% when compared to 3.8% in May 2023.
3.9%
State-wide:4.1%
The Texas Unemployment rate for June 2023 (preliminary)
remained unchanged at 4.1% from May 2023.
DFW Area:
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
$140,000,000
$160,000,000
2019*2020*2021*2022*2023*
New Construction permit values*October - May
City of Southlake Monthly Financial Report 2 8/10/2023
GENERAL FUND
FY 2023 REVENUE
FY 2023
EXPENDITURE VARIANCE
Oct 604,909$ 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$ 3,880,022$ (1,567,362)$
May 3,643,729$ 3,882,328$ (238,599)$
Jun 2,992,758$ 4,469,034$ (1,476,276)$
Jul 1,305,112$ 5,012,274$ (3,707,162)$
Aug -$ -$ -$
Sep -$ -$ -$
Tot 49,161,820$ 38,419,168$ 10,742,652$
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 1,745,742$ 1,725,777$ 1,262,973$
Jun 1,819,551$ 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 16,221,926$ 20,828,987$ 18,157,270$
POSITIVE
Year to date sales tax collections are trending above FY 2022 (1.9%)and FY 2021 (19.3%)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 $10.7M.The significant variance is due to the significant portion
of property tax revenue collected (approximately 99%) 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
$18,000,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2023 REVENUE FY 2023 EXPENDITURE 2022 EXPEND.
City of Southlake Monthly Financial Report 3 8/10/2023
GENERAL FUND
FY 2023 FY 2022 FY 2021
Oct 380,169$ 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 502,789$ 502,344$ 389,839$
Jul *(1,226,605)$ (1,310,741)$ (1,365,991)$
Aug -$ 69,630$ 52,655$
Sep -$ 111,205$ 190,848$
Tot 26,619,929$ 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 143,738$ 133,244$ 158,786$
Jul 92,872$ 192,902$ 170,985$
Aug -$ 184,578$ 217,599$
Sep -$ 154,833$ 221,982$
Tot 1,426,014$ 2,658,371$ 1,568,027$
POSITIVE
As of August the 2023 YTD property tax collections ($26,619,929)are approximately 0.23%less than 2022 YTD ($26,682,272)and 2.95%higher than 2021 YTD ($25,857,402).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 ($121M+)issued for FY 2023 YTD is approximately 20.4%less than FY 2022 and 7.2%higher than FY 2021 permit values.FY 2023 YTD permit revenue is 38.5%below and 26.4%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
$900,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2023 FY 2022 FY 2021
City of Southlake Monthly Financial Report 4 8/10/2023
FY 2023 ACTUAL YTD
(JULY)FY 2022 ACTUAL YTD (JULY)
FY 2023 BUDGET
YTD (JULY)FY 2023 % SPENT
888,823$ 871,163$ 933,718$ 95.19%
515,818$ 418,023$ 603,353$ 85.49%
5,361,142$ 4,781,525$ 5,858,049$ 91.52%
479,362$ 458,908$ 539,514$ 88.85%
17,416,178$ 8,193,674$ 18,210,698$ 95.64%
269,177$ 244,777$ 296,655$ 90.74%
2,308,090$ 2,032,407$ 2,586,582$ 89.23%
778,920$ 675,048$ 847,698$ 91.89%
2,616,598$ 2,428,189$ 3,004,140$ 87.10%
1,964,349$ 1,828,179$ 2,158,045$ 91.02%
4,270,440$ 3,694,737$ 4,559,510$ 93.66%
1,550,271$ 1,296,890$ 1,964,288$ 78.92%
38,419,168$ 26,923,520$ 41,562,250$ 92.44%3,143,082$
CHART OUTLOOK:
414,017$
289,070$
103,872$
193,696$ PDS
BUDGET VARIANCE
44,895$
496,907$
136,170$
575,703$
253,381$
11,495,648$
As indicated above,2023 expenditures are above 2022 expenditures for the same period with a increase of 42.7%.The primary reason for the increase is related to the ARPA funding used to pay public safety personnel
expenditures. The outlook is positive expenditures are below budgeted expenditures for the fiscal year.
FY 2022/2023 YTD
VARIANCE
17,660$
579,617$
20,454$
9,222,504$
24,400$
275,683$
SS
Totals
PW
CMO
CS
188,409$
60,152$
794,520$
27,478$
278,492$
68,778$
387,542$
CSO
DPS
ED
FIN
HR
IT
DEPARTMENTAL EXPENDITURES SUMMARY
97,795$ 87,535$ 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 (JULY)FY 2022 ACTUAL YTD (JULY)FY 2023 BUDGET YTD (JULY)
City of Southlake Monthly Financial Report 5 8/10/2023
INVESTMENT REPORT
City of Southlake
April 1 to June 30, 2023
Contents Investment Management Team
Scott McIntyre
Senior Portfolio Manager
512.481.2009
Scott.McIntyre@HilltopSecurities.com
Greg Warner
Senior Portfolio Manager
512.481.2012
Greg.Warner@HilltopSecurities.com
Jodi Jones
Investment Reporting Manager
512.481.2076
Jodi.Jones@HilltopSecurities.com
Page 2
Market Recap � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �3
Investment Officers’ Certification � � � � � � � � � � � � � � � � � � � � � � � � � � �4
Portfolio Overview � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �5
Portfolio Overview � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �6
Asset Allocation � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �7
Credit Rating Summary � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �8
Benchmark Comparison � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �9
Fund Overview � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �10
Detail of Security Holdings � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �11
Earned Income � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �12
Investment Transactions � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �13
Investment Transactions Totals � � � � � � � � � � � � � � � � � � � � � � � � � � � �14
Amortization and Accretion � � � � � � � � � � � � � � � � � � � � � � � � � � � � �15
Projected Cash Flows� � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �16
Projected Cash Flows Totals � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �17
Disclosures & Disclaimers � � � � � � � � � � � � � � � � � � � � � � � � � � � � � � �18
City of Southlake
As of June 30, 2023
Page 3
Market Recap
Financial markets spent much of May focused on the debt ceiling issue, but a resolution in
early June allowed attentions to shift back to economic data and the Fed� Although several
of the leading economic indicators signaled weakness, the preponderance of concurrent
indicators continued to exhibit surprising strength� The ISM manufacturing index logged
a seventh straight month below 50 in May, indicating contraction in the manufacturing
sector� The ISM services index unexpectedly fell from 51�9 to 50�3, the second lowest level in
three years and just a fraction above 50�
The deteriorating outlook by U�S� purchasing managers was countered by another strong
employment report as non-farm payrolls topped the median forecast for the 14th straight
month with a gain of +339k in May, well above the +195k median forecast� Upward
revisions added an additional +93k jobs to the March and April counts� Nonfarm payroll
growth is now averaging +331k per month in 2023, down from +399k last year� The
unemployment rate did climb from a five-decade low of 3�4% to 3�7%, but with payroll
growth above 300k per month and the unemployment rate below 4%, the labor market
clearly remains too tight�
The May inflation data was a mixed bag� Headline CPI rose just +0�1% and the year-over-
year headline was a bright spot, dropping from +4�9% to +4�0%, down sharply from
last year’s +9�1% peak� Core CPI, which excludes food and energy, was stubbornly high,
increasing by +0�4% in May, the sixth straight month at or above +0�4%� On a year-over-
year basis, the core was up +5�3%� Although down from +5�5% in April, it was the 18th
consecutive month above +5�0%, and more than 2½ times the Fed’s 2% target�
Financial markets spent the first two weeks of June gravitating toward the idea that
the FOMC would not raise the fed funds target for an eleventh straight time at the
mid-June meeting� Prodded along by hints from Fed speakers, a few tentative signs of
retreating inflationary pressures, and knowledge that the 500 basis points of rate increases
implemented so far were still working through the system, markets concluded the FOMC
would pause� Fed officials obliged, voting unanimously to leave the fed funds target
unchanged in a range of 5-5�25%� However, the new summary of economic projections, the
so-called dot plot, conveyed a much more hawkish note than markets had anticipated� The
forecast called for another 50 basis points of rate hikes, with a median estimate of 5�625%
by yearend, up from 5�125% at the March meeting� In addition, the median estimate for the
end of 2024 rose by 25 basis points to 4�625%� This hawkish forecast likely reflected a desire
to keep the markets from reading too much into the pause and thereby easing financial
conditions prematurely�
The committee’s message was reinforced by Chair Powell during his remarks at the post
meeting press conference� Powell noted that core inflation readings remain well above
the Fed’s target and that the process of getting inflation back to the 2% target “has a long
way to go�” Powell acknowledged they have “not seen a lot of progress” on core inflation
and that “we want to see it moving down decisively�” Powell also said, “Nearly all committee
participants expected it will be appropriate to raise interest rates somewhat further by the
end of the year�”
The frustratingly resilient economic performance and hawkish Fed forced bond yields
higher through the month of June� Prior expectations for rate cuts later this year have all but
vanished as the recession many predicted remains elusive� Fed funds futures now indicate
a yearend overnight rate of 5�38%, up from 4�91% at the end of May� The yield on the two-
year Treasury note rose almost 50 basis points during the month, closing at a yield of 4�90%�
City of Southlake
As of June 30, 2023
Page 4Page 4
Investment Officers
Investment Officers’ Certification
This report is prepared for the City of Southlake (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 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�
Nicole Bradshaw
Deputy Director of Finance
Sharen Jackson
Chief Financial Officer
Nicole Bradshaw
Sharen Jackson
Page 5
City of Southlake
April 1, 2023 - June 30, 2023
Page 5
Portfolio Overview
Portfolio Summary
Asset Allocation
Prior
31 Mar-23
Current
30 Jun-23
Par Value 182,959,607�04 175,790,765�01
Original Cost 183,035,407�92 176,011,766�90
Book Value 182,941,806�31 175,849,138�38
Market Value 182,000,458�29 175,261,528�61
Accrued Interest 138,403�65 87,760�63
Book Value Plus Accrued 183,080,209�96 175,936,899�02
Market Value Plus Accrued 182,138,861�94 175,349,289�24
Net Unrealized Gain/(Loss)(941,348�02)(587,609�77)
Prior
31 Mar-23
Current
30 Jun-23
Yield to Maturity 3�547%4�215%
Yield to Worst 3�547%4�215%
Days to Final Maturity 57 31
Days to Effective Maturity 57 31
Duration 0�42 0�38
Transaction Summary
Transaction Type Quantity Principal Interest Total Amount Realized Gain/Loss
Maturity (25,000,000�00)25,000,000�00 0�00 25,000,000�00 0�00
Call Redemption (2,500,000�00)2,500,000�00 0�00 2,500,000�00 0�00
Coupon 0�00 0�00 162,161�32 162,161�32 0�00
Current Period 1 Apr-23 to 30 Jun-23
Interest Income 1,642,676�27
Net Amortization/Accretion 76,174�10
Realized Gain/(Loss)0�00
Net Income 1,718,850�38
Fiscal Year-to-Date 1 Oct-22 to 30 Jun-23
Net Income 4,477,170�65
Portfolio CharacteristicsIncome Summary
City of Southlake
As of June 30, 2023
Page 6
Maturity Distribution by Security Type
Security Type Overnight 0-3 Months 3-6 Months 6-9 Months 9-12 Months 1-2 Years 2-3 Years 3-4 Years 4-5 Years Portfolio Total
AGCY ----4,997,417�42 ------------4,997,417.42
AGCY CALL ----5,000,000�00 4,983,070�57 ----------9,983,070.57
LGIP 138,305,765�01 ----------------138,305,765.01
MUNI --------4,568,824�98 --------4,568,824.98
US GOVT --12,997,430�42 4,996,629�99 ------------17,994,060.40
Total 138,305,765.01 12,997,430.42 14,994,047.41 4,983,070.57 4,568,824.98 --------175,849,138.38
Portfolio Overview
Top Ten Holdings
Issuer Allocation
TEXPOOL 30�32%
TEXSTAR 25�82%
United States Department of The Treasury 10�23%
TXCLASS 7�78%
LONESTRGOV 7�52%
LONESTRCRP 7�20%
Federal Home Loan Banks 5�68%
Federal Farm Credit Banks Funding Corporation 2�84%
Texas A&M University System Board of Regents 2�60%
Maturity Distribution by Security Type
City of Southlake
As of June 30, 2023
Page 7
Book Value Basis Security Distribution
Security Type Prior Balance
31-Mar-23
Prior Allocation
31-Mar-23 Change in Allocation Current Balance
30-Jun-23
Current Allocation
30-Jun-23 Yield to Maturity
AGCY 9,994,129�03 5�46%(2�62%)4,997,417�42 2�84%0�545%
AGCY CALL 9,976,724�39 5�45%0�22%9,983,070�57 5�68%2�473%
CP 14,905,520�83 8�15%(8�15%)0�00 0�00%
LGIP 117,974,607�04 64�49%14�16%138,305,765�01 78�65%5�102%
MUNI 7,107,112�80 3�88%(1�29%)4,568,824�98 2�60%0�400%
US GOVT 22,983,712�22 12�56%(2�33%)17,994,060�40 10�23%0�356%
Portfolio Total 182,941,806.31 100.00%175,849,138.38 100.00%4.215%
Asset Allocation
Asset Allocation by Security Type as of Asset Allocation by Security Type as of
31-Mar-2023 30-Jun-2023
City of Southlake
As of June 30, 2023
Page 8
Credit Rating Summary
Rating Distribution Allocation by Rating
Book Value Portfolio Allocation
Local Government Investment Pools & Money Market Funds
AAA 138,305,765�01 78�65%
Total Local Government Investment Pools & Money Market Funds 138,305,765.01 78.65%
Long Term Rating Distribution
AAA 37,543,373�37 21�35%
Total Long Term Rating Distribution 37,543,373.37 21.35%
Portfolio Total 175,849,138.38 100.00%
City of Southlake
As of June 30, 2023
Page 9
Yield Overview
Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
City of Southlake 0.09 0.09 0.09 0.11 0.13 0.16 0.16 0.21 0.29 0.44 0.59 0.79 1.10 1.49 1.91 2.23 2.64 2.92 3.23 3.38 3.55 3.78 4.00 4.22
6 Month CMT 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�55 1�96 2�43 2�93 3�45 3�87 4�20 4�50 4�72 4�84 4�95 5�07
1 Year CMT 0�09 0�09 0�08 0�08 0�09 0�10 0�14 0�21 0�32 0�47 0�64 0�85 1�10 1�37 1�68 2�05 2�42 2�79 3�15 3�45 3�73 3�96 4�21 4�42
TexPool 0�02 0�02 0�03 0�04 0�04 0�04 0�04 0�06 0�15 0�30 0�62 1�00 1�52 2�16 2�41 2�93 3�61 3�98 4�24 4�50 4�61 4�80 5�00 5�05
Benchmark Comparison
Page 10
City of Southlake
April 1, 2023 - June 30, 2023
Fund Overview
Fund Name Prior Book Value Prior Market Value Changes to Market
Value Current Book Value Current Market Value Net Income Days to Final Mty YTM YTW
General Operating 182,941,806�31 182,000,458�29 (6,738,929�68)175,849,138�38 175,261,528�61 1,718,850�38 31 4�215%4�215%
Total 182,941,806.31 182,000,458.29 (6,738,929.68)175,849,138.38 175,261,528.61 1,718,850.38 31 4.215%4.215%
City of Southlake
As of June 30, 2023
Page 11
Detail of Security Holdings
CUSIP Settle Date Security
Type Security Description CPN Maturity
Date
Next Call
Date Call Type Par Value Purch
Price Original Cost Book Value Mkt
Price Market Value Days
to Mty
Days to
Call YTM YTW Rating
General Operating
LNSTCRP LGIP LoneStar Corp O/N 06/30/23 12,659,281�31 100�000 12,659,281�31 12,659,281�31 100�000 12,659,281�31 1 5�268 5�268 AAA
LNSTGOV LGIP LoneStar Gov O/N 06/30/23 13,227,515�70 100�000 13,227,515�70 13,227,515�70 100�000 13,227,515�70 1 5�048 5�048 AAA
TEXPOOL LGIP TexPool 06/30/23 53,319,929�88 100�000 53,319,929�88 53,319,929�88 100�000 53,319,929�88 1 5�054 5�054 AAA
TEXSTAR LGIP TexSTAR 06/30/23 45,409,836�38 100�000 45,409,836�38 45,409,836�38 100�000 45,409,836�38 1 5�076 5�076 AAA
TXCLASS LGIP Texas CLASS 06/30/23 13,689,201�74 100�000 13,689,201�74 13,689,201�74 100�000 13,689,201�74 1 5�267 5�267 AAA
912828ZY9 12/15/21 US GOVT UNITED STATES TREASURY 0�125 07/15/23 5,000,000�00 99�359 4,967,968�75 4,999,215�95 99�797 4,989,843�75 15 0�532 0�532 AAA
91282CCU3 08/31/21 US GOVT UNITED STATES TREASURY 0�125 08/31/23 4,000,000�00 99�766 3,990,625�00 3,999,221�63 99�156 3,966,250�00 62 0�243 0�243 AAA
91282CAK7 08/26/21 US GOVT UNITED STATES TREASURY 0�125 09/15/23 4,000,000�00 99�750 3,990,000�00 3,998,992�83 98�969 3,958,750�00 77 0�247 0�247 AAA
91282CAP6 10/14/21 US GOVT UNITED STATES TREASURY 0�125 10/15/23 5,000,000�00 99�535 4,976,757�80 4,996,629�99 98�547 4,927,343�75 107 0�358 0�358 AAA
3133ENDR8 11/15/21 AGCY FEDERAL FARM CREDIT
BANKS FUNDING CORP 0�400 11/09/23 5,000,000�00 99�713 4,985,665�00 4,997,417�42 98�280 4,913,975�00 132 0�545 0�545 AAA
3130AQAF0 12/22/21 AGCY CALL FEDERAL HOME LOAN
BANKS 0�800 12/22/23 09/22/23 Quarterly 5,000,000�00 100�000 5,000,000�00 5,000,000�00 97�827 4,891,355�00 175 84 0�800 0�800 AAA
3130ASXL8 09/16/22 AGCY CALL FEDERAL HOME LOAN
BANKS 3�625 02/28/24 08/28/23 Quarterly 5,000,000�00 99�265 4,963,250�00 4,983,070�57 98�774 4,938,690�00 243 59 4�151 4�151 AAA
88213AKB0 09/29/20 MUNI
BOARD OF REGENTS
TEXAS A & M UNIVERSITY
SYSTEM
2�549 05/15/24 4,485,000�00 107�731 4,831,735�35 4,568,824�98 97�426 4,369,556�10 320 0�400 0�400 AAA
Total General
Operating 175,790,765.01 176,011,766.90 175,849,138.38 175,261,528.61 31 72 4.215 4.215
Grand Total 175,790,765.01 176,011,766.90 175,849,138.38 175,261,528.61 31 72 4.215 4.215
Page 12
City of Southlake
April 1, 2023 - June 30, 2023
Earned Income
CUSIP Security
Type Security Description Beginning
Accrued
Interest
Earned
Interest Rec'd/
Sold/Matured
Interest
Purchased
Ending
Accrued
Disc Accr/Prem
Amort
Net Realized
Gain/Loss Net Income
General Operating
912828ZH6 US GOVT UNITED STATES TREASURY 0�25 04/15/2023 5,769�23 480�77 6,250�00 0�00 0�00 (10�02)0�00 470�75
89233HSC9 CP Toyota Motor Credit Corporation 0�0 05/12/2023 0�00 0�00 0�00 0�00 0�00 20,329�17 0�00 20,329�17
8821356W1 MUNI BOARD OF REGENTS TEXAS A & M UNIVERSITY
SYSTEM 5�0 05/15/2033 47,222�22 15,277�78 62,500�00 0�00 0�00 (14,384�65)0�00 893�13
46640QT27 CP J�P� Morgan Securities LLC 0�0 06/02/2023 0�00 0�00 0�00 0�00 0�00 33,325�00 0�00 33,325�00
78009BT93 CP Royal Bank of Canada 0�0 06/09/2023 0�00 0�00 0�00 0�00 0�00 40,825�00 0�00 40,825�00
3133EMH96 AGCY FEDERAL FARM CREDIT BANKS FUNDING CORP
0�125 06/14/2023 1,857�64 1,267�36 3,125�00 0�00 0�00 1,484�03 0�00 2,751�40
CCYUSD CASH US DOLLAR 0�0 06/30/2023 0�00 0�00 0�00 0�00 0�00 0�00 0�00 0�00
LNSTCRP LGIP LoneStar Corp O/N 0�0 06/30/2023 0�00 161,456�17 161,456�17 0�00 0�00 0�00 0�00 161,456�17
LNSTGOV LGIP LoneStar Gov O/N 0�0 06/30/2023 0�00 162,853�11 162,853�11 0�00 0�00 0�00 0�00 162,853�11
TEXPOOL LGIP TexPool 0�0 06/30/2023 0�00 677,224�26 677,224�26 0�00 0�00 0�00 0�00 677,224�26
TEXSTAR LGIP TexSTAR 0�0 06/30/2023 0�00 354,382�15 354,382�15 0�00 0�00 0�00 0�00 354,382�15
TXCLASS LGIP Texas CLASS 0�0 06/30/2023 0�00 175,242�28 175,242�28 0�00 0�00 0�00 0�00 175,242�28
912828ZY9 US GOVT UNITED STATES TREASURY 0�125 07/15/2023 1,312�15 1,571�13 0�00 0�00 2,883�29 5,096�31 0�00 6,667�44
91282CCU3 US GOVT UNITED STATES TREASURY 0�125 08/31/2023 434�78 1,236�41 0�00 0�00 1,671�20 1,161�17 0�00 2,397�59
91282CAK7 US GOVT UNITED STATES TREASURY 0�125 09/15/2023 230�98 1,236�41 0�00 0�00 1,467�39 1,205�95 0�00 2,442�36
91282CAP6 US GOVT UNITED STATES TREASURY 0�125 10/15/2023 2,884�62 1,555�28 3,125�00 0�00 1,314�89 2,894�77 0�00 4,450�04
3133ENDR8 AGCY FEDERAL FARM CREDIT BANKS FUNDING CORP 0�4
11/09/2023 7,888�89 5,000�00 10,000�00 0�00 2,888�89 1,804�35 0�00 6,804�35
3130AQAF0 AGCY CALL FEDERAL HOME LOAN BANKS 0�8 12/22/2023 11,000�00 10,000�00 20,000�00 0�00 1,000�00 0�00 0�00 10,000�00
3130ASXL8 AGCY CALL FEDERAL HOME LOAN BANKS 3�625 02/28/2024 16,614�58 45,312�50 0�00 0�00 61,927�08 6,346�18 0�00 51,658�68
88213AKB0 MUNI BOARD OF REGENTS TEXAS A & M UNIVERSITY
SYSTEM 2�549 05/15/2024 43,188�56 28,580�66 57,161�32 0�00 14,607�89 (23,903�17)0�00 4,677�50
Total General
Operating 138,403.65 1,642,676.27 1,693,319.30 0.00 87,760.63 76,174.10 0.00 1,718,850.38
Grand Total 138,403.65 1,642,676.27 1,693,319.30 0.00 87,760.63 76,174.10 0.00 1,718,850.38
Page 13
City of Southlake
April 1, 2023 - June 30, 2023
Investment Transactions
CUSIP Trade Date Settle Date Security Type Security Description Coupon Maturity
Date Call Date Par Value Price Principal
Amount
Interest
Purchased/
Received
Total Amount Realized
Gain/Loss YTM YTW
General
Operating
Call Redemption
8821356W1 05/15/23 05/15/23 MUNI BOARD OF REGENTS TEXAS A & M
UNIVERSITY SYSTEM 5�000 05/15/23 05/15/23 (2,500,000�00)100�000 2,500,000�00 0�00 2,500,000�00 0�00 ----
Total Call
Redemption (2,500,000.00)2,500,000.00 0.00 2,500,000.00 0.00
Coupon
912828ZH6 04/15/23 04/15/23 US GOVT UNITED STATES TREASURY 0�250 04/15/23 0�00 0�00 6,250�00 6,250�00 0�00 ----
91282CAP6 04/15/23 04/15/23 US GOVT UNITED STATES TREASURY 0�125 10/15/23 0�00 0�00 3,125�00 3,125�00 0�00 ----
3133ENDR8 05/09/23 05/09/23 AGCY FEDERAL FARM CREDIT BANKS
FUNDING CORP 0�400 11/09/23 0�00 0�00 10,000�00 10,000�00 0�00 ----
8821356W1 05/15/23 05/15/23 MUNI BOARD OF REGENTS TEXAS A & M
UNIVERSITY SYSTEM 5�000 05/15/23 05/15/23 0�00 0�00 62,500�00 62,500�00 0�00 ----
88213AKB0 05/15/23 05/15/23 MUNI BOARD OF REGENTS TEXAS A & M
UNIVERSITY SYSTEM 2�549 05/15/24 0�00 0�00 57,161�32 57,161�32 0�00 ----
3133EMH96 06/14/23 06/14/23 AGCY FEDERAL FARM CREDIT BANKS
FUNDING CORP 0�125 06/14/23 0�00 0�00 3,125�00 3,125�00 0�00 ----
3130AQAF0 06/22/23 06/22/23 AGCY CALL FEDERAL HOME LOAN BANKS 0�800 12/22/23 09/22/23 0�00 0�00 20,000�00 20,000�00 0�00 ----
Total Coupon 0.00 0.00 162,161.32 162,161.32 0.00
Maturity
912828ZH6 04/15/23 04/15/23 US GOVT UNITED STATES TREASURY 0�250 04/15/23 (5,000,000�00)100�000 5,000,000�00 0�00 5,000,000�00 0�00 ----
89233HSC9 05/12/23 05/12/23 CP Toyota Motor Credit Corporation 0�000 05/12/23 (5,000,000�00)100�000 5,000,000�00 0�00 5,000,000�00 0�00 ----
46640QT27 06/02/23 06/02/23 CP J�P� Morgan Securities LLC 0�000 06/02/23 (5,000,000�00)100�000 5,000,000�00 0�00 5,000,000�00 0�00 ----
78009BT93 06/09/23 06/09/23 CP Royal Bank of Canada 0�000 06/09/23 (5,000,000�00)100�000 5,000,000�00 0�00 5,000,000�00 0�00 ----
3133EMH96 06/14/23 06/14/23 AGCY FEDERAL FARM CREDIT BANKS
FUNDING CORP 0�125 06/14/23 (5,000,000�00)100�000 5,000,000�00 0�00 5,000,000�00 0�00 ----
Total Maturity (25,000,000.00)25,000,000.00 0.00 25,000,000.00 0.00
Page 14
City of Southlake
April 1, 2023 - June 30, 2023
Investment Transactions Totals
Transaction Type Quantity Principal Amount Interest Total Amount Realized G/L YTM YTW
Total Call Redemption (2,500,000�00)2,500,000�00 0�00 2,500,000�00 0�00 0�260 0�260
Total Maturity (25,000,000�00)25,000,000�00 0�00 25,000,000�00 0�00 2�502 2�502
Total Coupon 0�00 0�00 162,161.32 162,161�32 0.00
Page 15
City of Southlake
April 1, 2023 - June 30, 2023
Amortization and Accretion
CUSIP Settle Date Security
Type Security Description Purchase Qty Orig Price Original Cost Amort/Accr for
Period
Total Amort/Accr
Since Purch
Remaining Disc/
Premium
Ending Book
Value
General Operating
912828ZH6 10/14/21 US GOVT UNITED STATES TREASURY 0�25 04/15/2023 0�00 0�000 0�00 (10�02)0�00 0�00 0�00
89233HSC9 08/22/22 CP Toyota Motor Credit Corporation 0�0 05/12/2023 0�00 0�000 0�00 20,329�17 0�00 0�00 0�00
8821356W1 10/28/20 MUNI BOARD OF REGENTS TEXAS A & M UNIVERSITY SYSTEM 5�0
05/15/2033 0�00 0�000 0�00 (14,384�65)0�00 0�00 0�00
46640QT27 09/08/22 CP J�P� Morgan Securities LLC 0�0 06/02/2023 0�00 0�000 0�00 33,325�00 0�00 0�00 0�00
78009BT93 09/15/22 CP Royal Bank of Canada 0�0 06/09/2023 0�00 0�000 0�00 40,825�00 0�00 0�00 0�00
3133EMH96 06/25/21 AGCY FEDERAL FARM CREDIT BANKS FUNDING CORP 0�125 06/14/2023 0�00 0�000 0�00 1,484�03 0�00 0�00 0�00
912828ZY9 12/15/21 US GOVT UNITED STATES TREASURY 0�125 07/15/2023 5,000,000�00 99�359 4,967,968�75 5,096�31 31,247�20 (784�05)4,999,215�95
91282CCU3 08/31/21 US GOVT UNITED STATES TREASURY 0�125 08/31/2023 4,000,000�00 99�766 3,990,625�00 1,161�17 8,596�63 (778�37)3,999,221�63
91282CAK7 08/26/21 US GOVT UNITED STATES TREASURY 0�125 09/15/2023 4,000,000�00 99�750 3,990,000�00 1,205�95 8,992�83 (1,007�17)3,998,992�83
91282CAP6 10/14/21 US GOVT UNITED STATES TREASURY 0�125 10/15/2023 5,000,000�00 99�535 4,976,757�80 2,894�77 19,872�19 (3,370�01)4,996,629�99
3133ENDR8 11/15/21 AGCY FEDERAL FARM CREDIT BANKS FUNDING CORP 0�4 11/09/2023 5,000,000�00 99�713 4,985,665�00 1,804�35 11,752�42 (2,582�58)4,997,417�42
3130AQAF0 12/22/21 AGCY CALL FEDERAL HOME LOAN BANKS 0�8 12/22/2023 5,000,000�00 100�000 5,000,000�00 0�00 0�00 0�00 5,000,000�00
3130ASXL8 09/16/22 AGCY CALL FEDERAL HOME LOAN BANKS 3�625 02/28/2024 5,000,000�00 99�265 4,963,250�00 6,346�18 19,820�57 (16,929�43)4,983,070�57
88213AKB0 09/29/20 MUNI BOARD OF REGENTS TEXAS A & M UNIVERSITY SYSTEM 2�549
05/15/2024 4,485,000�00 107�731 4,831,735�35 (23,903�17)(262,910�37)83,824�98 4,568,824�98
Total General
Operating 37,485,000.00 37,706,001.89 76,174.10 (162,628.52)58,373.37 37,543,373.37
Grand Total 37,485,000.00 37,706,001.89 76,174.10 (162,628.52)58,373.37 37,543,373.37
Page 16
City of Southlake
June 30, 2023 to June 30, 2024
Projected Cash Flows
CUSIP Security Description Post Date Interest Principal Total Amount
General Operating
912828ZY9 UNITED STATES TREASURY 0�125 07/15/2023 07/17/23 3,125�00 3,125�00
912828ZY9 UNITED STATES TREASURY 0�125 07/15/2023 07/17/23 5,000,000�00 5,000,000�00
3130ASXL8 FEDERAL HOME LOAN BANKS 3�625 02/28/2024 08/28/23 90,625�00 90,625�00
91282CCU3 UNITED STATES TREASURY 0�125 08/31/2023 08/31/23 2,500�00 2,500�00
91282CCU3 UNITED STATES TREASURY 0�125 08/31/2023 08/31/23 4,000,000�00 4,000,000�00
91282CAK7 UNITED STATES TREASURY 0�125 09/15/2023 09/15/23 2,500�00 2,500�00
91282CAK7 UNITED STATES TREASURY 0�125 09/15/2023 09/15/23 4,000,000�00 4,000,000�00
91282CAP6 UNITED STATES TREASURY 0�125 10/15/2023 10/16/23 3,125�00 3,125�00
91282CAP6 UNITED STATES TREASURY 0�125 10/15/2023 10/16/23 5,000,000�00 5,000,000�00
3133ENDR8 FEDERAL FARM CREDIT BANKS FUNDING CORP 0�4 11/09/2023 11/09/23 10,000�00 10,000�00
3133ENDR8 FEDERAL FARM CREDIT BANKS FUNDING CORP 0�4 11/09/2023 11/09/23 5,000,000�00 5,000,000�00
88213AKB0 BOARD OF REGENTS TEXAS A & M UNIVERSITY SYSTEM 2�549 05/15/2024 11/15/23 57,161�32 57,161�32
3130AQAF0 FEDERAL HOME LOAN BANKS 0�8 12/22/2023 12/22/23 20,000�00 20,000�00
3130AQAF0 FEDERAL HOME LOAN BANKS 0�8 12/22/2023 12/22/23 5,000,000�00 5,000,000�00
3130ASXL8 FEDERAL HOME LOAN BANKS 3�625 02/28/2024 02/28/24 90,625�00 90,625�00
3130ASXL8 FEDERAL HOME LOAN BANKS 3�625 02/28/2024 02/28/24 5,000,000�00 5,000,000�00
88213AKB0 BOARD OF REGENTS TEXAS A & M UNIVERSITY SYSTEM 2�549 05/15/2024 05/15/24 57,161�32 57,161�32
88213AKB0 BOARD OF REGENTS TEXAS A & M UNIVERSITY SYSTEM 2�549 05/15/2024 05/15/24 4,485,000�00 4,485,000�00
Grand Total 336,822.65 37,485,000.00 37,821,822.65
Page 17
City of Southlake
June 30, 2023 to June 30, 2024
Month and Year Interest Principal Total Amount
July 2023 3,125�00 5,000,000�00 5,003,125�00
August 2023 93,125�00 4,000,000�00 4,093,125�00
September 2023 2,500�00 4,000,000�00 4,002,500�00
October 2023 3,125�00 5,000,000�00 5,003,125�00
November 2023 67,161�32 5,000,000�00 5,067,161�32
December 2023 20,000�00 5,000,000�00 5,020,000�00
February 2024 90,625�00 5,000,000�00 5,090,625�00
May 2024 57,161�32 4,485,000�00 4,542,161�32
Total 336,822.65 37,485,000.00 37,821,822.65
Projected Cash Flows Totals
City of Southlake
As of June 30, 2023
Page 18
Disclosures & Disclaimers
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