Item 3B2 Monthly Financial ReportCITY OF
SOUTHLAI<.,,,.E
MONTHLY FINANCIAL
REPORT
0 11 1
December 2024
PERFORMANCE AT A GLANCE
Year to Date
3 year Trend
Reference
7alFund. Vs. Rev. Positive Positive
Page 3
e (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 1-4% compared to seasonal trends
Negative = Negative Variance of > 4% compared to seasonal trends.
City of Southlake Monthly Financial Report 1 1/15/2025
ECONOMIC INDICATORS
NATIONAL ECONOMY
e 3.1%
DP is defined as the output of goods and services
oduced by labor and property located in the United
ates, The Bureau of Labor and Economic Analysis
ported that the "third" estimated GDP for the 3rd
carter of 2024 increased at a rate of 3.1 %. In the $g0,000,000
id quarter of 2024, GDP increased at a rate of
0%.
$so,000,000
Housing Starts: 1.80%
$70,000,000
Housing starts in November 2024 were at a
seasonally adjusted rate of 1,289,000, which is 1.8% $60,000,000
below the previous month figure of 1,312,000, and
14.6% below the same month last year.
$50,000,000
UNEMPLOYMENT RATES
National: 1/ 4.1 $40,000,000
The National Unemployment rate for December $30,000,000
2024 decreased to 4.1 %, compared to 4.2% in
November 2024. $20,000,000
State-wide: 4.2%
The Texas Unemployment rate for November 2024
(preliminary) slightly increased to 4.2% from 4.1 % in
October 2024.
1/ 4.0%
Dallas/Fort Worth/Arlington Metropolitan Area
nployment rate for November 2024 (preliminary)
rased to 4.0% when compared to 3.9% in
,bar 2024.
$10,000,000
FINANCIAL ACTIVITY
2021* 2022* 2023* 2024* 2025*
*October -December ■ Construction permit values
City of Southlake Monthly Financial Report 2 1/15/2025
GENERAL FUND
OVERALL FUND PERFORMANCE:
GENERAL FUND REVENUE VS EXPENDITURES 2025
FY 2025
FY 2025
FY 2025 REVENUE FY 2025 EXPENDITURE —gk--2024 EXPEND.
REVENUE
EXPENDITURE
VARIANCE
Oct $ 1,028185
$ 3,045,596
$
(2,017,411)
$8,000,000
Nov $ 2,938:364
$ 4,712,733
$
(1,774,369)
$7 000,000
Dec $ 6,852,653
$ 3,815,242
$
3,037,411
Jan $ -
$ -
$
-
$6,000,000
'
Feb $
$
$
Mar $ -
$ -
$
_
$5,000,000
Apr $
$
$
$4,000,000
May $
$
$
Jun $
$
$
$3,000,000
Jul $
$
$
Aug $
$
$
$2,000,000
Sep
$
Tot $ 10,819,202
$ 11,573,571
$
(754,369)
$1,000,000
Ej
$_
CHART OUTLOOK:
POSITIVE
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
Year-to-date revenue is trending below budget. Staff will continue to monitor revenue and expenditures closely.
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2025-2023 COMPARISON
FY 2025
FY 2024
FY 2023
FY 2025 FY 2024 FY 2023
Oct $ 1,792,542
$ 1,639,596
$
1,814,981
$3,000,000
Nov $ 1,815,114
$ 1,701,432
$
1,813,575
Dec $ -
$ 2,383,801
$
2,507,299
$2,500,000
Jan $ -
$ 1,643,095
$
1,539,514
Feb $
$ 1,458,994
$
1,436,621
$2,000,000
Mar $ -
$ 1,859,641
$
1,836,177
—
Apr $
$ 1,749,381
$
1,708,466
$1,500,000
May $ -
$ 1,660,932
$
1,745,742
Jun $
$ 1,777,233
$
1,819,551
$1,000,000
Jul $ -
$ 1,653,109
$
1,620,652
Aug
$ 1,710,382
$
2,618,139
$500,000
Sep
$ 1,690,978
$
1,968,439
Tot $ 3,607,656
$ 20,928,572
$
22,429,154
$_
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
CHART OUTLOOK:
POSITIVE
Year-to-date collections are trending
higher than FY 2024
(8.0%) and lower than FY 2023 (0.6%) collections. November 2024 sales are higher than November 2023 (6.2%) and November 2022 (3.0%) collections. Year-
to-date collections are above budget for the year, so the outlook is considered positive. Staff will continue to monitor collections closely.
City of Southlake Monthly Financial Report 3 1/15/2025
GENERAL FUND
REVENUE ANALYSIS (continued)
PROPERTY TAX 3 YEAR TREND
FY 2025
FY 2024 FY 2023 ■ FY 2025 ■ FY 2024 FY 2023
Oct $ 415,744
$ 577,913 $ 380,169 $14,000,000
Nov $ 2,389,817
$ 2,012,904 $ 2,011,080 $12,000,000
Dec $ 4,489,786
$ 8,236,314 $ 4,964,620
Jan $ -
$ 10,376,818 $ 12,756,146 $10,000,000
Feb $
$ 5,623,897 $ 6,290,070 $8,000,000
Mar $ -
$ 532,180 $ 560,775 $6,000,000
Apr $
$ 257,466 $ 221,968 $4,000,000
May $ -
$ 198,604 $ 158,917
Jun $
$ 516,677 $ 502,789 $2,000,000
Jul * $ -
$ (1,139,094) $ (1,226,605) $-
Aug $ -
$ 88,418 $ 69,910 $(2,000,000) Oct Nov Dec Jan Feb Mar Apr May Jun u Aug
Sep $ -
$ 16,945 $ 41,259
Tot $ 7,295,347
$ 27,299,042 $ 26,731,098
* Net transfer of TIF revenues to
CHART OUTLOOK:
POSITIVE
TIF fund
As of December, the 2025 YTD property tax collections ($7,295,347) are approximately 32.6% and 0.8% lower than 2024 YTD ($10,827,131) and 2023 YTD ($7,355,869), respectively. 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.
PERMIT REVENUE 2024-2022 COMPARISON
FY 2025
FY 2024 FY 2023
FY 2025 FY 2024 FY 2023
Oct $ 332,221
$ 110,053 $ 137,332 $350,000
Nov $ 121,292 $
284,653 $ 118,803
Dec $ 104,932
$ 69,759 $ 88,212 $300,000
Jan $ - $
90,986 $ 231,884
Feb $
$ 93,595 $ 249,097 $250,000
Mar $ -
$ 226,182 $ 98,675
Apr $
$ 121,572 $ 77,670 $200,000
May $ -
$ 198,453 $ 187,731
Jun $
$ 159,935 $ 143,738 $150,000
-
Jul $ -
$ 135,053 $ 92,872
Aug $
$ 100,564 $ 136,528 $100'000
Sep
$ 156,642 $ 157,382 $50,000
Tot $ 558,445
$ 1,747,447 $ 1,719,924
CHART OUTLOOK:
POSITIVE
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
The value of new construction permits ($58.7M+) issued for FY 2025 YTD is approximately 27.8% less and 54.9% higher than in FY 2024 and FY 2023, respectively. FY 2025 YTD permit revenue is 20.2% and 62.2%
higher than in FY 2024 and 2023, respectively. The permit revenue year to date is trending above budget, so the outlook is considered positive.
City of Southlake Monthly Financial Report 4 1/15/2025
EXPENDITURE ANALYSIS
DEPARTMENTAL
EXPENDITURES SUMMARY
FY 2025 ACTUAL
FY 2024 ACTUAL
FY 2025 BUDGET
FY 2024/2025 YTD
YTD (DECEMBER)
YTD (DECEMBER)
YTD
(DECEMBER)
VARIANCE
BUDGET VARIANCE
FY 2025 % SPENT
CIVIC)
$ 262,809
$
268,738
$
320,719
$
(5,929)
$ 57,910
81.94%
COMM
$ 286,408
$
231,909
$
316,377
$
54,499
$ 29,969
90.53%
CS
$ 1,550,120
$
1,621,637
$
1,855,595
$
(71,517)
$ 305,475
83.54%
CSO
$ 139,460
$
135,261
$
168,100
$
4,199
$ 28,640
82.96%
DPS
$ 4,626,642
$
5,388,362
$
5,969,372
$
(761,720)
$ 1,342,730
77.51%
ED
$ 112,677
$
94,411
$
145,907
$
18,266
$ 33,230
77.23%
FIN
$ 837,653
$
643,341
$
951,145
$
194,312
$ 113,492
88.07%
HR
$ 155,152
$
239,092
$
268,685
$
(83,940)
$ 113,533
57.74%
IT
$ 922,906
$
741,100
$
1,097,293
$
181,806
$ 174,387
84.11%
PDS
$ 541,759
$
587,276
$
666,128
$
(45,517)
$ 124,369
81.33%
PW
$ 1,077,150
$
1,201,367
$
1,485,870
$
(124,217)
$ 408,720
72.49%
SS
$ 1,060,835
$
1,301,859
$
1,409,273
$
(241,024)
$ 348,438
75.28%
Totals
$ 11,573,571
$
12,454,353
$
14,654,464
$
(880,782)
$ 3,080,893
78.98%
FY
2025
ACTUAL YTD
(DECEMBER) FY 2024 ACTUAL YTD (DECEMBER) FY 2025 BUDGET YTD (DECEMBER)
$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
CMO
COMM
CS
CSO
DPS
ED FIN HR
IT PDS
PW SS
CHART OUTLOOK: POSITIVE
As indicated above, 2025 expenditures are less than
2024 expenditures
for the same period, with a decrease of 7.1% primarily due to the timing
of contract payment and legal settlement. The outlook is positive, as
expenditures are on pace to be within
budgeted expenditures for the fiscal year.
City of Southlake Monthly Financial Report 5 1/15/2025
EXPERIENCE
SOUTHLAKE
11� ZZ 07i's F,; -t I
November 21.,2024
The Marq Financial Review
10/1/2023 9/30/2024
CD
MARQ CC
F 1W
�79.91 %
CEDC FINANCIAL DASHBOARD
asof 11/21120242:31 PM
L
LH it
NET REVENUE: CURRENT & PREVIOUS YEAR
66.00%
109.150A
73.009fo
109.47%
38.00%
107.08%
Target
ATT
Target
ATT
Target
A.TT
4.56M
6.33M
4.04M
5.06M
516.61 K
1.27M
Rey enoe
Expense
Rey eace
Expense
Re, enue
Expense
THE MARQ MEMBERSHIP REVENUE (NET)
■ CCR • LHR —Total Revenue LY
Sun
29K
OK --- ...
OK ...... ...
OK
OK
Nw 2023 Dec 2023 Jan 2024 Feb 2024 Mar2024 Apr2024 May2024 Jun 2024 Ju12024 Aug2024 Sep 2024 Oct 2024 Nw 2024
r
' THE MARQ RENTALS REVENUE (NET)
•CC -Rental -Revenue ■LH-ReMaFRevenue 0Sum Revenue LY
250K
200K
150K
100K
50K
OK
Nov Dec 2023 Jan 2024 Feb 2024 Mar Apr 2024 May Jun 2024 Jul 2024 Aug Sep 2024 Cct 2024 Nov
2023 2024 2024 2024 2024
70K
60K
50K
40K
30K
20K
ICK
OK
Nov Dec Jan 2024 Feb 2024 Mar Apr2024 May Jun 2024 Jul 2024 Aug Sep 2024 Oct 2024 Nov
2023 2023 2024 2024 2024 2024
CHAMPIONS CLUB MEMBERSHIP TRENDS
3500 3�34 3b11 3�04 3�33 3690 3730 37b� 3674
37 3§04 3587 3��7
.. .....' 3358 3374 3414 3447
3�3493 3485 3493 3�41 3�20
3000 3154 3155
3236 3287
2500
2000
1500
i0O0
500
0�
Od 2022
Jan 2023 Apr 2023 112023 Od 2023 Jan 2024 Apr 2024 A 2024 Of 2024
350
300
250
200
"o
150
100
50
0
FY22
FY23
FY24
FY25
CC NIENIBERSHWS CHANGES BY FISCAL, YEAR & MONTH -,THINS CC MEMBERSHIPS CHANGES BY FISCAL YEAR & MONTH -TERM
Fiscal Year FY22 f FY23 --*-- FY24 --*-- FY25 Fiscal Year FY22 —*- FY23 --*-- FY24 —*- FY25
4 6 8 10 12
Fiscal Month
m
JOINS
172 205 209 254 173 192 2391 350 310 253 292 185 FY22
216 253 244 286 206 212 204 326 268 266 294 203 FY23
188 182 236 318 236 225 245 290 296 291 273 221 FY24
236 i 1 FY25
4
6 $
10
121
Fiscal Month
TERNHNATIONS
166
1421 148
175 158 135 150 111
1211 111
231 230
206
191181
213
201 171 171 141
236 253
320
263
197
184
180
229
253 200 258 241
261 252
357
377
294
m
MENMERSHIPS BY TYPE
0 Fa mi ly No Child Wat{h 0 Ad ult 0 Fa mi ly ■ Se nior * Youth
11.
2 2. 53
5.45
25.7%
35.23
1000
600
400
200
0
NUTUT-YEAR CC M ENIBERSHIPS ANALYSIS BY NIE11BERSHIP TYPE - JOINS NInTI-YEAR CC MEMBERSHIPS ANALYSIS BY MEMBERSHIP TYPE - TERNIINATIONS
*Adult 2Family $Family No Child Watch &Senior iyouth •Adult 6Family 0Family No Child Watch 0Seri ior 8Youth
N
w
V M
Go M1
8CM1 ❑ � r`
ko m
ko n
r.
n
M Ln
r, ❑ M
Lo
M
p: Ln 600 N
L m
In
Ll
1 4W , m
FY22 FY23
JOINS
6
FY22 FY23 FY24
a
TERAMATIONS
Adult
532'
766
846
961
Adult
453
635
773'
921
Family
459
599
677
660
Family
338
393
568
676
Family No Child Watch
875
1006
965
892
Family No Child Watch
730
773
874
935
Senior
200
274
313
315
Senior
127
169
254
256
Youth
157
198
191
194
Youth
129
176
182
200
EXPERIENCE
SOUTHLAKE
Three Year Revenue Comparison by Month
,'I --� P,
`O�Gt
OG
,ate
�G`0
�OJQi
OeGQi
■ Fiscal Year 2022 Fiscal Year 2023 Fiscal Year 2024
EXPERIENCE
SOUTHLAI<,.,.,E