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
September 2024 V2
= Negative Variance of > 4% compared to seasonal trends.
Positive
City of Southlake Monthly Financial Report 1 11/13/2024
National GDP:
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY3.0%
GDP is defined as the output of goods and services
produced by labor and property located in the United
States, The Bureau of Labor and Economic Analysis
reported that the "second" estimated GDP for the
2nd quarter of 2024 increased at a rate of 3.0%. In
the 1st quarter of 2024, GDP increased at a rate of
1.6%.
The National Unemployment rate for September
2024 slightly decreased to 4.1% when compared to
4.2% in August 2024.
National:
5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES
Housing Starts:
Single-family housing starts in August 2024 were at
a seasonally adjusted rate of 992,000, 15.8% above
the revised previous month figure of 857,000.
15.8%
UNEMPLOYMENT RATES
4.1%
The Dallas/Fort Worth/Arlington Metropolitan Area
unemployment rate for August 2024 (preliminary)
remained at 4.1% when compared to July 2024.
4.1%
State-wide:4.1%
The Texas Unemployment rate for August 2024
(preliminary) remained unchanged at 4.1% when
compared to July 2024.
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
$180,000,000
$200,000,000
2020*2021*2022*2023*2024*
Construction permit values*October -September
City of Southlake Monthly Financial Report 2 11/13/2024
GENERAL FUND
FY 2024
REVENUE
FY 2024
EXPENDITURE VARIANCE
Oct 855,780$ 3,014,402$ (2,158,622)$
Nov 2,752,442$ 4,319,159$ (1,566,717)$
Dec 10,340,523$ 5,289,496$ 5,051,027$
Jan 13,058,828$ 4,234,303$ 8,824,525$
Feb 9,417,330$ 4,129,715$ 5,287,615$
Mar 2,984,935$ 3,928,073$ (943,138)$
Apr 2,359,208$ 3,892,992$ (1,533,784)$
May 3,716,867$ 4,954,116$ (1,237,249)$
Jun 2,947,587$ 3,593,289$ (645,702)$
Jul 1,282,975$ 3,649,048$ (2,366,073)$
Aug 3,022,227$ 3,985,851$ (963,624)$
Sep 2,227,248$ 5,993,402$ (3,766,154)$
Tot 54,965,950$ 50,983,846$ 3,982,104$
POSITIVE
FY 2024 FY 2023 FY 2022
Oct 1,639,596$ 1,814,981$ 1,613,415$
Nov 1,701,432$ 1,813,575$ 1,652,674$
Dec 2,383,801$ 2,507,299$ 2,456,532$
Jan 1,643,095$ 1,539,514$ 1,602,323$
Feb 1,458,994$ 1,436,621$ 1,388,859$
Mar 1,859,641$ 1,836,177$ 1,975,175$
Apr 1,749,381$ 1,708,466$ 1,714,270$
May 1,660,932$ 1,745,742$ 1,725,777$
Jun 1,777,233$ 1,819,551$ 1,792,755$
Jul 1,653,109$ 1,620,652$ 1,607,427$
Aug 1,710,382$ 2,618,139$ 1,659,141$
Sep 1,690,978$ 1,968,439$ 1,640,639$
Tot 20,928,574$ 22,429,156$ 20,828,987$
POSITIVE
Year-to-date collections are trending below FY 2023 (6.7%)and slightly below FY 2022 (0.5%)collections.September sales were lower than September 2023 (14.1%)and slightly higher than September 2022 (3.1%).
However,year-to-date collections are above the original adopted budget for the year;therefore,the final amended budget included increased sales tax revenue.The outlook is considered positive.Staff will continue to
monitor collections closely.
GENERAL FUND REVENUE VS EXPENDITURES 2024
OVERALL FUND PERFORMANCE:
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2024-2022 COMPARISON
CHART OUTLOOK:
CHART OUTLOOK:
The outlook for the year is positive as overall revenues and expenditures are on target with the final amended budget. The revenues are higher than expenditures by approximately $4.0M.
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
FY 2024 FY 2023 FY 2022
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2024 REVENUE FY 2024 EXPENDITURE 2023 EXPEND.
City of Southlake Monthly Financial Report 3 11/13/2024
GENERAL FUND
FY 2024 FY 2023 FY 2022
Oct 577,913$ 380,169$ 653,703$
Nov 2,012,904$ 2,011,080$ 2,017,203$
Dec 8,236,314$ 4,964,620$ 6,068,454$
Jan 10,376,818$ 12,756,146$ 11,588,414$
Feb 5,623,897$ 6,290,070$ 5,872,247$
Mar 532,180$ 560,775$ 584,684$
Apr 257,466$ 221,968$ 554,247$
May 198,604$ 158,917$ 151,717$
Jun 516,677$ 502,789$ 502,344$
Jul *(1,139,094)$ (1,226,605)$ (1,310,741)$
Aug 88,418$ 69,910$ 69,630$
Sep 16,945$ 41,259$ 111,205$
Tot 27,299,042$ 26,731,098$ 26,863,107$
POSITIVE
FY 2024 FY 2023 FY 2022
Oct 110,053$ 137,332$ 214,445$
Nov 284,653$ 118,803$ 185,109$
Dec 69,759$ 88,212$ 94,663$
Jan 90,986$ 231,884$ 167,045$
Feb 93,595$ 249,097$ 111,545$
Mar 226,182$ 98,675$ 154,046$
Apr 121,572$ 77,670$ 277,691$
May 198,453$ 187,731$ 788,270$
Jun 159,935$ 143,738$ 133,244$
Jul 135,053$ 92,872$ 192,902$
Aug 100,564$ 136,528$ 184,578$
Sep 156,642$ 157,382$ 154,833$
Tot 1,747,447$ 1,719,924$ 2,658,371$
POSITIVE
FY 2024 YTD property tax collections ($27,299,042)are approximately 2.1%and 1.6%higher than 2023 YTD ($26,731,098)and 2022 YTD ($26,863,107),respectively.As indicated on the chart,most of the property
tax revenue is collected in the second quarter of the fiscal year. FY 2024 collections are slightly below the final amended budget of $27,340,607.
* Net transfer of TIF revenues to
TIF fund
The value of new construction permits ($163.1M+)issued for FY 2024 YTD is approximately 13.2%higher than FY 2023 and 9.1%lower than FY 2022 permit values.FY 2024 YTD permit revenue is 1.6%higher and
34.3% lower than FY 2023 and 2022, respectively. The permit revenue year to date is trending above budget, so the outlook is considered positive.
PERMIT REVENUE 2024-2022 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 2024 FY 2023 FY 2022
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
$800,000
$900,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2024 FY 2023 FY 2022
City of Southlake Monthly Financial Report 4 11/13/2024
FY 2024 ACTUAL
YTD (SEPTEMBER)
FY 2023 ACTUAL
YTD (SEPTEMBER)
FY 2024 BUDGET
YTD (SEPTEMBER)FY 2024 % SPENT
1,226,422$ 1,107,942$ 1,245,953$ 98.43%
728,462$ 640,520$ 781,257$ 93.24%
7,254,123$ 6,754,306$ 7,529,649$ 96.34%
621,990$ 600,638$ 662,578$ 93.87%
22,709,370$ 21,765,541$ 23,709,577$ 95.78%
439,279$ 335,511$ 465,801$ 94.31%
3,086,368$ 2,797,356$ 3,099,763$ 99.57%
889,043$ 960,971$ 980,739$ 90.65%
3,314,137$ 3,133,852$ 3,681,901$ 90.01%
2,481,778$ 2,454,740$ 2,650,874$ 93.62%
5,703,869$ 5,278,793$ 5,887,840$ 96.88%
2,529,005$ 2,030,626$ 2,707,487$ 93.41%
50,983,846$ 47,860,796$ 53,403,419$ 95.47%2,419,573$
CHART OUTLOOK:
178,482$
183,971$
(71,928)$
169,096$ PDS
BUDGET VARIANCE
19,531$
275,526$
27,038$
425,076$
498,379$
3,123,050$
As indicated above,2024 expenditures are higher than the 2023 expenditures for the same period,with an increase of 6.5%primarily due to approved pay plan adjustments,increase in property insurance,and legal
settlements. The outlook is positive.
FY 2023/2024 YTD
VARIANCE
118,480$
499,817$
21,352$
943,829$
103,768$
289,012$
SS
Totals
PW
CMO
CS
180,285$
40,588$
1,000,207$
26,522$
13,395$
91,696$
367,764$
CSO
DPS
ED
FIN
HR
IT
DEPARTMENTAL EXPENDITURES SUMMARY
87,942$ 52,795$ 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 2024 ACTUAL YTD (SEPTEMBER)FY 2023 ACTUAL YTD (SEPTEMBER)FY 2024 BUDGET YTD (SEPTEMBER)
City of Southlake Monthly Financial Report 5 11/13/2024
The Marq Financial Review
October 22, 2024
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 2022 Fiscal Year 2023 Fiscal Year 2024
Questions?
INVESTMENT REPORT
City of Southlake
July 1 to September 30, 2024
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 September 30, 2024
Page 3
Market Recap
Bond yields fell for the fifth straight month in September with the two-year Treasury note
ending the quarter at its lowest point since September 2022� Continued progress on the
Fed’s inflation mandate has allowed committee members to shift their attention away from
prices to the quickly softening labor market�
Job openings for July slipped to a 3½ year low of roughly 7�7 million, down from over
12 million in March 2022� At the high point, the ratio of available jobs to job seekers was
roughly 2 to 1; suddenly, it’s 1�1 to 1� At this pace, it’s not hard to imagine a shortage of
jobs in the near future� The August employment report added to the concern with softer-
than-expected job gains� Non-farm payrolls rose by +142k, slightly below forecast, while
downward revisions to prior periods subtracted 86k� This combined to drag the three-
month average down to +116k, less than half of the 2023 average monthly pace� However,
the unemployment rate actually decreased from 4�3% to 4�2%, and hourly earnings came in
a little warmer than expected, making for a mixed report�
On the inflation side, the overall consumer price index (CPI) rose +0�2% for the second
straight month, matching the median forecast as lower energy prices pulled the headline
down� Overall food prices were up by just +0�1%, with the price of groceries unchanged�
When food and energy are excluded, core CPI was up +0�3%, above both the +0�2%
median forecast and the +0�2% July gain� Shelter costs were the unfortunate outlier in
August with a +0�5% increase, contributing roughly 70% of the core rise� On an annual
basis, overall CPI held steady at +2�5%, the lowest since February 2021 while core CPI was
unchanged at +3�2%� The so-called “super-core rate,” which strips out food, energy, and
housing, took an unexpected step forward, increasing by +0�33% in August after a +0�21%
rise in July� Like the employment report, CPI was mixed� The inflation rate is well below its
peak, but it’s still above the Fed’s target and it remains unclear that the recent downtrend
will continue unbated�
As the September 18th FOMC meeting approached, Fed officials had yet to make their
policy intensions clear� There was no doubt that the committee would announce its first
policy move in 14 months and the first rate cut since March 2020, but whether it would be
25 or 50 basis points was essentially a coin flip� Arguments against the larger cut included
appearing to favor the incumbent party just seven weeks before the election and conveying
the idea that deteriorating economic conditions required a stronger response� In what felt
like a surprise (only because Fed officials had not telegraphed it sooner) the committee
announced a 50 bp reduction with a new overnight target range of 4�75% to 5�00%� In
the press conference that followed, Chairman Powell managed to soothe concerns over a
weakening economy while citing progress on inflation�
The first “dot plot” since June showed a 2024 yearend overnight target of 4�25% to 4�50%,
implying quarter point cuts at each of the two remaining meetings this year� Committee
member forecasts indicate reductions of another 100 bps in both 2025 and 2026 with a
neutral rate of 2�875%�
The yield curve is indicating a more aggressive path with 75 basis points priced-in over the
remainder of 2024 and another 125 basis points next year� Whether the Fed’s dot plot, the
futures market or some other rate path prevails will be determined entirely by upcoming
data� If the economy proves resilient, job growth should pick up, giving the Fed pause,
but if the economy weakens significantly, rate cuts could be fronted-loaded, driving yields
still lower in the coming months� Adding to an already muddled economic picture is the
upcoming presidential election, which promises anything but clarity�
City of Southlake
As of September 30, 2024
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
July 1, 2024 - September 30, 2024
Page 5
Portfolio Overview
Portfolio Summary
Asset Allocation
Prior
30 Jun-24
Current
30 Sep-24
Par Value 175,369,035�53 202,400,718�94
Original Cost 174,955,369�77 201,931,493�18
Book Value 175,031,034�77 202,110,460�60
Market Value 175,014,659�78 202,409,356�94
Accrued Interest 153,796�41 327,192�81
Book Value Plus Accrued 175,184,831�17 202,437,653�42
Market Value Plus Accrued 175,168,456�19 202,736,549�75
Net Unrealized Gain/(Loss)(16,374�99)298,896�34
Prior
30 Jun-24
Current
30 Sep-24
Yield to Maturity 5�288%5�136%
Yield to Worst 5�288%5�136%
Days to Final Maturity 78 65
Days to Effective Maturity 78 65
Duration 1�19 0�91
Transaction Summary
Transaction Type Quantity Principal Interest Total Amount Realized Gain/Loss
Buy 8,000,000�00 (7,944,440�00)(99,489�13)(8,043,929�13)0�00
Coupon 0�00 0�00 245,459�72 245,459�72 0�00
Current Period 1 Jul-24 to 30 Sep-24
Interest Income 2,423,037�68
Net Amortization/Accretion 103,302�43
Realized Gain/(Loss)0�00
Net Income 2,526,340�11
Fiscal Year-to-Date 1 Oct-23 to 30 Sep-24
Net Income 8,749,443�55
Portfolio CharacteristicsIncome Summary
City of Southlake
As of September 30, 2024
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 --------9,018,101�36 7,010,516�98 ------16,028,618.34
LGIP 164,400,718�94 ----------------164,400,718.94
US GOVT ----4,927,585�50 8,858,891�17 3,936,324�85 3,958,321�80 ------21,681,123.33
Total 164,400,718.94 --4,927,585.50 8,858,891.17 12,954,426.21 10,968,838.78 ------202,110,460.60
Portfolio Overview
Top Ten Holdings
Issuer Allocation
TEXSTAR 29�41%
TEXPOOL 18�04%
TXCLASS 13�54%
LONESTRGOV 11�59%
United States Department of The Treasury 10�73%
LONESTRCRP 8�76%
Federal Home Loan Banks 4�46%
Federal Farm Credit Banks Funding Corporation 3�47%
Maturity Distribution by Security Type
City of Southlake
As of September 30, 2024
Page 7
Book Value Basis Security Distribution
Security Type Prior Balance
30-Jun-24
Prior Allocation
30-Jun-24 Change in Allocation Current Balance
30-Sep-24
Current Allocation
30-Sep-24 Yield to Maturity
AGCY 12,013,392�16 6�86%1�07%16,028,618�34 7�93%4�784%
LGIP 145,369,035�53 83�05%(1�71%)164,400,718�94 81�34%5�191%
US GOVT 17,648,607�08 10�08%0�64%21,681,123�33 10�73%4�972%
Portfolio Total 175,031,034.77 100.00%202,110,460.60 100.00%5.136%
Asset Allocation
Asset Allocation by Security Type as of Asset Allocation by Security Type as of
30-Jun-2024 30-Sep-2024
City of Southlake
As of September 30, 2024
Page 8
Credit Rating Summary
Rating Distribution Allocation by Rating
Book Value Portfolio Allocation
Local Government Investment Pools & Money Market Funds
AAA 164,400,718�94 81�34%
Total Local Government Investment Pools & Money Market Funds 164,400,718.94 81.34%
Long Term Rating Distribution
AAA 37,709,741�66 18�66%
Total Long Term Rating Distribution 37,709,741.66 18.66%
Portfolio Total 202,110,460.60 100.00%
City of Southlake
As of September 30, 2024
Page 9
Yield Overview
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24
City of Southlake 2.23 2.64 2.92 3.23 3.38 3.55 3.78 4.00 4.22 4.37 4.61 4.75 4.91 5.07 5.22 5.20 5.21 5.19 5.19 5.31 5.29 5.29 5.25 5.14
6 Month CMT 2�93 3�45 3�87 4�20 4�50 4�72 4�84 4�95 5�07 5�20 5�29 5�38 5�47 5�50 5�48 5�43 5�39 5�36 5�33 5�33 5�34 5�34 5�29 5�16
1 Year CMT 2�05 2�42 2�79 3�15 3�45 3�73 3�96 4�21 4�42 4�62 4�80 4�93 5�01 5�06 5�08 5�09 5�09 5�12 5�15 5�17 5�16 5�12 5�04 4�93
TexPool 2�93 3�61 3�98 4�24 4�50 4�61 4�80 5�00 5�05 5�12 5�30 5�32 5�36 5�37 5�37 5�35 5�33 5�32 5�31 5�32 5�31 5�32 5�30 5�16
Benchmark Comparison
Page 10
City of Southlake
July 1, 2024 - September 30, 2024
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 175,031,034�77 175,014,659�78 27,394,697�16 202,110,460�60 202,409,356�94 2,526,340�11 65 5�136%5�136%
Total 175,031,034.77 175,014,659.78 27,394,697.16 202,110,460.60 202,409,356.94 2,526,340.11 65 5.136%5.136%
City of Southlake
As of September 30, 2024
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 09/30/24 17,696,224�22 100�000 17,696,224�22 17,696,224�22 100�000 17,696,224�22 1 5�320 5�320 AAA
LNSTGOV LGIP LoneStar Gov O/N 09/30/24 23,429,058�67 100�000 23,429,058�67 23,429,058�67 100�000 23,429,058�67 1 5�170 5�170 AAA
TEXPOOL LGIP TexPool 09/30/24 36,468,952�79 100�000 36,468,952�79 36,468,952�79 100�000 36,468,952�79 1 5�164 5�164 AAA
TEXSTAR LGIP TexSTAR 09/30/24 59,445,962�33 100�000 59,445,962�33 59,445,962�33 100�000 59,445,962�33 1 5�132 5�132 AAA
TXCLASS LGIP Texas CLASS 09/30/24 27,360,520�93 100�000 27,360,520�93 27,360,520�93 100�000 27,360,520�93 1 5�292 5�292 AAA
91282CED9 03/12/24 US GOVT U�S� Treasury Note 1�750 03/15/25 5,000,000�00 96�836 4,841,796�88 4,927,585�50 98�844 4,942,187�50 166 5�007 5�007 AAA
912828XB1 08/09/24 US GOVT U�S� Treasury Note 2�125 05/15/25 4,000,000�00 98�125 3,925,000�00 3,938,977�46 98�672 3,946,875�00 227 4�640 4�640 AAA
91282CEU1 05/02/24 US GOVT U�S� Treasury Note 2�875 06/15/25 5,000,000�00 97�473 4,873,632�81 4,919,913�71 99�094 4,954,687�50 258 5�224 5�224 AAA
3130B1FH5 05/20/24 AGCY FHLB 5�090 07/15/25 5,000,000�00 100�037 5,001,831�80 5,001,045�80 100�729 5,036,430�00 288 5�063 5�063 AAA
91282CFE6 05/10/24 US GOVT U�S� Treasury Note 3�125 08/15/25 4,000,000�00 97�703 3,908,125�00 3,936,324�85 99�188 3,967,500�00 319 5�015 5�015 AAA
3130AWS92 08/09/24 AGCY FHLB 4�875 09/12/25 4,000,000�00 100�486 4,019,440�00 4,017,055�56 100�744 4,029,772�00 347 4�410 4�410 AAA
91282CGA3 06/24/24 US GOVT U�S� Treasury Note 4�000 12/15/25 4,000,000�00 98�730 3,949,218�75 3,958,321�80 100�141 4,005,625�00 441 4�902 4�902 AAA
3133ERDZ1 05/10/24 AGCY FFCB 4�750 05/08/26 3,000,000�00 99�820 2,994,588�00 2,995,617�37 101�527 3,045,801�00 585 4�846 4�846 AAA
3133ERGA3 06/24/24 AGCY FFCB 5�000 06/04/26 4,000,000�00 100�429 4,017,141�00 4,014,899�61 101�994 4,079,760�00 612 4�765 4�765 AAA
Total General
Operating 202,400,718.94 201,931,493.18 202,110,460.60 202,409,356.94 65 5.136 5.136
Grand Total 202,400,718.94 201,931,493.18 202,110,460.60 202,409,356.94 65 5.136 5.136
Page 12
City of Southlake
July 1, 2024 - September 30, 2024
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
LNSTCRP LGIP LoneStar Corp O/N 0�00 237,884�58 237,884�58 0�00 0�00 0�00 0�00 237,884�58
LNSTGOV LGIP LoneStar Gov O/N 0�00 307,876�58 307,876�58 0�00 0�00 0�00 0�00 307,876�58
TEXPOOL LGIP TexPool 0�00 548,453�28 548,453�28 0�00 0�00 0�00 0�00 548,453�28
TEXSTAR LGIP TexSTAR 0�00 686,703�14 686,703�14 0�00 0�00 0�00 0�00 686,703�14
TXCLASS LGIP Texas CLASS 0�00 322,753�10 322,753�10 0�00 0�00 0�00 0�00 322,753�10
91282CED9 US GOVT U�S� Treasury Note 25,679�35 21,938�06 43,750�00 0�00 3,867�40 39,031�39 0�00 60,969�44
912828XB1 US GOVT U�S� Treasury Note 0�00 12,241�85 0�00 (19,864�13)32,105�98 13,977�46 0�00 26,219�31
91282CEU1 US GOVT U�S� Treasury Note 6,284�15 36,133�88 0�00 0�00 42,418�03 28,038�44 0�00 64,172�32
3130B1FH5 AGCY FHLB 31,812�50 63,625�00 41,709�72 0�00 53,727�78 (404�13)0�00 63,220�87
91282CFE6 US GOVT U�S� Treasury Note 47,046�70 31,417�97 62,500�00 0�00 15,964�67 18,009�56 0�00 49,427�53
3130AWS92 AGCY FHLB 0�00 28,166�67 97,500�00 (79,625�00)10,291�67 (2,384�44)0�00 25,782�23
91282CGA3 US GOVT U�S� Treasury Note 6,994�54 40,218�58 0�00 0�00 47,213�11 8,459�40 0�00 48,677�98
3133ERDZ1 AGCY FFCB 20,979�17 35,625�00 0�00 0�00 56,604�17 657�65 0�00 36,282�65
3133ERGA3 AGCY FFCB 15,000�00 50,000�00 0�00 0�00 65,000�00 (2,082�91)0�00 47,917�09
Total General
Operating 153,796.41 2,423,037.68 2,349,130.40 (99,489.13)327,192.81 103,302.43 0.00 2,526,340.11
Grand Total 153,796.41 2,423,037.68 2,349,130.40 (99,489.13)327,192.81 103,302.43 0.00 2,526,340.11
Page 13
City of Southlake
July 1, 2024 - September 30, 2024
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
Buy
3130AWS92 08/08/24 08/09/24 AGCY FHLB 4�875 09/12/25 4,000,000�00 100�486 4,019,440�00 79,625�00 4,099,065�00 0�00 4�410 4�410
912828XB1 08/08/24 08/09/24 US GOVT U�S� Treasury Note 2�125 05/15/25 4,000,000�00 98�125 3,925,000�00 19,864�13 3,944,864�13 0�00 4�640 4�640
Total Buy 8,000,000.00 7,944,440.00 99,489.13 8,043,929.13 0.00
Coupon
3130B1FH5 07/15/24 07/15/24 AGCY FHLB 5�090 07/15/25 0�00 0�00 41,709�72 41,709�72 0�00 ----
91282CFE6 08/15/24 08/15/24 US GOVT U�S� Treasury Note 3�125 08/15/25 0�00 0�00 62,500�00 62,500�00 0�00 ----
3130AWS92 09/12/24 09/12/24 AGCY FHLB 4�875 09/12/25 0�00 0�00 97,500�00 97,500�00 0�00 ----
91282CED9 09/15/24 09/15/24 US GOVT U�S� Treasury Note 1�750 03/15/25 0�00 0�00 43,750�00 43,750�00 0�00 ----
Total Coupon 0.00 0.00 245,459.72 245,459.72 0.00
Page 14
City of Southlake
July 1, 2024 - September 30, 2024
Investment Transactions Totals
Transaction Type Quantity Principal Amount Interest Total Amount Realized G/L YTM YTW
Total Buy 8,000,000�00 (7,944,440�00)(99,489�13)(8,043,929�13)0�00 4�524 4�524
Total Coupon 0�00 0�00 245,459�72 245,459�72 0�00
Page 15
City of Southlake
July 1, 2024 - September 30, 2024
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
91282CED9 03/12/24 US GOVT U�S� Treasury Note 5,000,000�00 96�836 4,841,796�88 39,031�39 85,788�62 (72,414�50)4,927,585�50
912828XB1 08/09/24 US GOVT U�S� Treasury Note 4,000,000�00 98�125 3,925,000�00 13,977�46 13,977�46 (61,022�54)3,938,977�46
91282CEU1 05/02/24 US GOVT U�S� Treasury Note 5,000,000�00 97�473 4,873,632�81 28,038�44 46,280�90 (80,086�29)4,919,913�71
3130B1FH5 05/20/24 AGCY FHLB 5,000,000�00 100�037 5,001,831�80 (404�13)(786�00)1,045�80 5,001,045�80
91282CFE6 05/10/24 US GOVT U�S� Treasury Note 4,000,000�00 97�703 3,908,125�00 18,009�56 28,199�85 (63,675�15)3,936,324�85
3130AWS92 08/09/24 AGCY FHLB 4,000,000�00 100�486 4,019,440�00 (2,384�44)(2,384�44)17,055�56 4,017,055�56
91282CGA3 06/24/24 US GOVT U�S� Treasury Note 4,000,000�00 98�730 3,949,218�75 8,459�40 9,103�05 (41,678�20)3,958,321�80
3133ERDZ1 05/10/24 AGCY FFCB 3,000,000�00 99�820 2,994,588�00 657�65 1,029�37 (4,382�63)2,995,617�37
3133ERGA3 06/24/24 AGCY FFCB 4,000,000�00 100�429 4,017,141�00 (2,082�91)(2,241�39)14,899�61 4,014,899�61
Total General
Operating 38,000,000.00 37,530,774.24 103,302.43 178,967.42 (290,258.34)37,709,741.66
Grand Total 38,000,000.00 37,530,774.24 103,302.43 178,967.42 (290,258.34)37,709,741.66
Page 16
City of Southlake
September 30, 2024 to September 30, 2025
Projected Cash Flows
CUSIP Security Description Post Date Interest Principal Total Amount
General Operating
3133ERDZ1 FFCB 11/08/24 71,250�00 71,250�00
912828XB1 U�S� Treasury Note 11/15/24 42,500�00 42,500�00
3133ERGA3 FFCB 12/04/24 100,000�00 100,000�00
91282CEU1 U�S� Treasury Note 12/16/24 71,875�00 71,875�00
91282CGA3 U�S� Treasury Note 12/16/24 80,000�00 80,000�00
3130B1FH5 FHLB 01/15/25 127,250�00 127,250�00
91282CFE6 U�S� Treasury Note 02/18/25 62,500�00 62,500�00
3130AWS92 FHLB 03/12/25 97,500�00 97,500�00
91282CED9 U�S� Treasury Note 03/17/25 43,750�00 43,750�00
91282CED9 U�S� Treasury Note 03/17/25 5,000,000�00 5,000,000�00
3133ERDZ1 FFCB 05/08/25 71,250�00 71,250�00
912828XB1 U�S� Treasury Note 05/15/25 42,500�00 42,500�00
912828XB1 U�S� Treasury Note 05/15/25 4,000,000�00 4,000,000�00
3133ERGA3 FFCB 06/04/25 100,000�00 100,000�00
91282CEU1 U�S� Treasury Note 06/16/25 71,875�00 71,875�00
91282CEU1 U�S� Treasury Note 06/16/25 5,000,000�00 5,000,000�00
91282CGA3 U�S� Treasury Note 06/16/25 80,000�00 80,000�00
3130B1FH5 FHLB 07/15/25 127,250�00 127,250�00
3130B1FH5 FHLB 07/15/25 5,000,000�00 5,000,000�00
91282CFE6 U�S� Treasury Note 08/15/25 62,500�00 62,500�00
91282CFE6 U�S� Treasury Note 08/15/25 4,000,000�00 4,000,000�00
3130AWS92 FHLB 09/12/25 97,500�00 97,500�00
3130AWS92 FHLB 09/12/25 4,000,000�00 4,000,000�00
Grand Total 1,349,500.00 27,000,000.00 28,349,500.00
Page 17
City of Southlake
September 30, 2024 to September 30, 2025
Month and Year Interest Principal Total Amount
November 2024 113,750�00 113,750�00
December 2024 251,875�00 251,875�00
January 2025 127,250�00 127,250�00
February 2025 62,500�00 62,500�00
March 2025 141,250�00 5,000,000�00 5,141,250�00
May 2025 113,750�00 4,000,000�00 4,113,750�00
June 2025 251,875�00 5,000,000�00 5,251,875�00
July 2025 127,250�00 5,000,000�00 5,127,250�00
August 2025 62,500�00 4,000,000�00 4,062,500�00
September 2025 97,500�00 4,000,000�00 4,097,500�00
Total 1,349,500.00 27,000,000.00 28,349,500.00
Projected Cash Flows Totals
City of Southlake
As of September 30, 2024
Page 18
Disclosures & Disclaimers
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