Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Item 3B2 - Monthly Financial Report
13 CITY OF S0UTHLA1<.,.,E MONTHLY FINANCIAL REPORT March 2025 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 1-4% compared to seasonal trends Negative = Negative Variance of > 4% compared to seasonal trends. City of Southlake Monthly Financial Report 1 4/10/2025 ECONOMIC INDICATORS NATIONAL ECONOMY National GDP: e 2.4% 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 4th carter of 2024 increased at a rate of 2.4%. In the $120,000,000 d quarter of 2024, GDP increased at a rate of 1%. $100,000,000 Housing Starts: V/ 11.2% Housing starts in February 2025 were at a seasonally adjusted rate of 1,501,000, which is $80,000,000 11.2% above the previous month figure of 1,350,000, and 2.9% below the same month last UNEMPLOYMENT RATES $60,000,000 Dnal: op 4.2% National Unemployment rate for March 2025 $40,000,000 lased to 4.2%, compared to 4.1 % in February State-wide: 1/ 4.1 % $20,000,000 The Texas Unemployment rate for February 2025 (preliminary) remained unchanged at4.1% when compared to January 2025. $- DFWArea: V 4.1% *October -March 0 FINANCIAL ACTIVITY 2021* 2022* 2023* 2024* 2025* ■ Construction permit values City of Southlake Monthly Financial Report 2 4/10/2025 M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M M GENERAL FUND OVERALL FUND PERFORMANCE: GENERAL FUND REVENUE VS EXPENDITURES 2025 FY 2025 FY 2025 FY 2025 REVENUE FY 2025 EXPENDITURE 2024 EXPEND. REVENUE EXPENDITURE VARIANCE Oct $ 995,965 $ 3,045,596 $ (2,049,631) $18,000,000 Nov $ 2,899,854 $ 4,712,733 $ (1,812,879) $16,000,000 Dec $ 6,811,678 $ 4,042,253 $ 2,769,425 Jan $ 16,742,515 $ 4,736,543 $ 12,005,972 $14,000,000 Feb $ 9,551,595 $ 4,115,350 $ 5,436,245 $12,000,000 Mar $ 2,925,773 $ 3,616,559 $ (690,786) Apr $ $ $ $10,000,000 May $ $ $ $8,000,000 Jun $ $ $ Jul $ - $ _ $ _ $6,000,000 Aug $ $ $ $4,000,000 - Sep$ Tot Tot $ 39,927,380 $ 24,269,034 $ 15,658,346 $2,000,000 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 ri 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 $ 2,552,523 $ 2,383,801 $ 2,507,299 $2,500,000 ' Jan $ 1,722,503 $ 1,643,095 $ 1,539,514 Feb $ 1,470,957 $ 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 $ 9,353,639 $ 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 (6.0%%) and FY 2023 (2.7%) collections. February 2025 sales are slightly higher than February 2024 (0.8%) and February 2023 (2.3%) 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 4/10/2025 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 $16,000,000 Nov $ 2,389,817 $ 2,012,904 $ 2,011,080 $14,000,000 Dec $ 4,489,786 $ 8,236,314 $ 4,964,620 $12,000,000 Jan $ 14,130,006 $ 10,376,818 $ 12,756,146 $10,000,000 Feb $ 5,620,386 $ 5,623,897 $ 6,290,070 Mar $ 640,868 $ 532,180 $ 560,775 $8,000,000 Apr $ - $ 257,466 $ 221,968 $6,000,000 May $ - $ 198,604 $ 158,917 $4,000,000 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 Ju Aug Sep $ - $ 16,945 $ 41,259 Tot $ 27,686,607 $ 27,299,042 $ 26,731,098 * Net transfer of TIF revenues to CHART OUTLOOK: POSITIVE TIF fund As of March, the 2025 YTD property tax collections ($27,686,607) are approximately 1.2% and 2.7% higher than 2024 YTD ($27,360,026) and 2023 YTD ($26,962,860), 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 $ 133,336 $ 90,986 $ 231,884 Feb $ 145,396 $ 93,595 $ 249,097 $250,000 Mar $ 135,536 $ 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 $100,000 , . Aug $ $ 100,564 $ 136,528 Sep $ 156,642 $ 157,382 $50,000 Tot $ 972,713 $ 1,747,447 $ 1,719,924 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep CHART OUTLOOK: POSITIVE The value of new construction permits ($99.9M+) issued for FY 2025 YTD is approximately 10.0% and 34,8% higher than in FY 2024 and FY 2023, respectively. FY 2025 YTD permit revenue is 11.1 % and 5.3% 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 4/10/2025 EXPENDITURE ANALYSIS DEPARTMENTAL EXPENDITURES SUMMARY FY 2025 ACTUAL FY 2024 ACTUAL FY 2025 BUDGET FY 2024/2025 YTD YTD (MARCH) YTD (MARCH) YTD (MARCH) VARIANCE BUDGET VARIANCE FY 2025 % SPENT CIVIC) $ 545,008 $ 587,465 $ 641,438 $ (42,457) $ 96,430 84.97% COMM $ 456,847 $ 373,750 $ 452,755 $ 83,097 $ (4,092) 100.90% CS $ 2,934,370 $ 3,452,067 $ 3,711,189 $ (517,697) $ 776,819 79.07% CSO $ 283,825 $ 277,284 $ 336,200 $ 6,541 $ 52,375 84.42% DPS $ 11,093,092 $ 10,859,803 $ 11,938,745 $ 233,289 $ 845,653 92.92% ED $ 242,689 $ 174,176 $ 291,813 $ 68,513 $ 49,124 83.17% FIN $ 1,535,203 $ 1,593,234 $ 1,622,290 $ (58,031) $ 87,087 94.63% HR $ 316,744 $ 468,696 $ 537,370 $ (151,952) $ 220,626 58.94% IT $ 2,028,692 $ 1,696,026 $ 2,194,587 $ 332,666 $ 165,895 92.44% PDS $ 1,105,469 $ 1,183,410 $ 1,332,255 $ (77,941) $ 226,786 82.98% PW $ 2,378,365 $ 2,713,947 $ 2,971,740 $ (335,582) $ 593,375 80.03% SS $ 1,348,730 $ 1,528,407 $ 1,214,546 $ (179,677) $ (134,184) 111.05% Totals $ 24,269,034 $ 24,908,265 $ 27,244,928 $ (639,231) $ 2,975,894 89.08% FY 2025 ACTUAL YTD (MARCH) FY 2024 ACTUAL YTD (MARCH) FY 2025 BUDGET YTD (MARCH) $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 ii $_ CMO COMM CS CSO DPS ED FIN HR IT PDS PW SS CHART OUTLOOK: I POSITIVE As indicated above, 2025 expenditures are less than 2024 expenditures for the same period, with a decrease of 2.6% 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 4/10/2025 INVESTMENT REPORT City of Southlake January 1 to March 31, 2025 Hilltop Securities J�* Contents 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 Famed Income.....................................12 Investment Transactions................................13 Investment Transactions Totals ............................14 Amortization and Accretion .............................15 Projected Cash Flows..................................16 Projected Cash Flows Totals..............................18 Disclosures & Disclaimers...............................19 Investment Management Team Scott McIntyre Senior Portfolio Manager 512.481.2009 ScottMclntyre@HilltopSecurities.com Greg Warner Senior Portfolio Manager 572.487.2072 Greg.WGmer@HilltopSecurities.com Jodi Jones Investment Reporting Manager 512.487.2076 Jodi.Jones@HilltopSecurities.com ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 2 Hilltop Securities J�* Market Recap Treasury yields edged lower once again in March, despite Fed officials holding the overnight rate steady for the second straight FOMC meeting.The overriding theme of the quarter was theTrump tariffs, more specifically the uncertainty fueled by the on-again/off-again series of threats aimed primarily at our neighbors to the north and south.Those threats became reality on March 31 when a 25%tax was imposed on goods imported from Mexico and Canada, while an additional 10%tax was placed on Chinese imports, doubling the previously imposed 10%.Two days Iater,Trump decided that Mexican and Canadian goods falling under the USMCA agreement he himself negotiated five years ago would be exempt. The next day, a tariff on Canadian dairy products and lumber was announced, followed by a 25%tax on all steel and aluminum imported into the United States.This seemingly random pattern repeated itself throughout the month, shaking up consumer and business confidence. Trade partners quickly retaliated by levying new tariffs and increasing existing duties on U.S. goods. Perhaps more importantly, foreign countries scrambled to forge new agreements amongst themselves, reducing barriers to promote free trade. Stocks experienced a particularly volatile month in which in the S&P 500 lost nearly 6%, despite corporate profits reaching an all-time high in the prior quarter. Initial concerns over tariff -related inflation increasingly morphed into recession fears. Extreme uncertainty has likely stalled business investment and consumer spending. Very few of the economic releases in March reflected the rapidly evolving tariff situation, which makes the data less useful as a predictor of future activity, although still helpful to establish a base. Overall, employment held up well, while inflation generally moved lower and consumer spending weakened. Nonfarm payrolls for February were roughly in line with forecasts at an acceptable +151 k, while the unemployment rate ticked up from 4.0% to 4.1 %, still very near historical lows. Both the overall CPI index and core CPI were up +0.2% in February, a tenth below the+0.3% median forecasts. On a year -over -year basis, headline CPI declined from +3.0% to +2.8% and the core decreased to +3.1 %, which although still too high, was a four-yearlow. High City of Southlake As of March 31, 2025 visibility grocery prices were unchanged and prices at the gas pump were slightly lower. Headline retail sales, expected to bounce back from a weak January reading, rosejust+0.2% in February, well below the +0.6% median forecast, while the previously reported January sales decline was revised even lower, from-0.9%to -1.2%. Weakness was widespread as 7 of 13 spending categories were lower. Tariff concerns were more evident in the soft data releases as survey results were mostly terrible.The Conference Board's main consumer confidence gauge for March dropped 7.2 points to 92.9, while expectations for the next six months fell nearly 10 points to 65.2, the lowestin 12 years and consistent with an economic downturn. Pessimism about future business conditions and employment prospects sharply increased, with inflation expectations rising to 6.2%for the next 12 months.The University of Michigan consumer sentiment survey made headlines with long-term inflation expectations reaching a three - decade high. The Fed, as expected, held rates steady at the March FOMC meeting.The updated summary of economic projections (the first since December) showed slightly higher inflation for 2025 and slightly lower GDP growth.The new dot plot continued to indicate two rate cuts in 2025, although with less conviction than in December. Powell's belief that tariff -related inflation would be temporary suggested that policymakers could cut sooner and more aggressively if the labor market and the economy weakened, even if inflation moved higher... as long as it was the tariffs that drove those price increases. Although near -term recession is still unlikely, the Atlanta Fed's GDPNow measure for Q1 was -3.7% as of April 1Ii. In all likelihood, this will climb as the March economic numbers are tallied, but there's no denying the abrupt and seemingly severe Q1 slowdown. With few positive catalysts expected in the second quarter, especially if the global trade war worsens, the financial markets will continue bracing for weakness and lower rates. ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 3 Hilltop Securities J�* Investment Officers'Certification This report is prepared for the City of South lake (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. City of Southlake As of March 31, 2025 Investment Officers Nicole Bradshaw Nicole Bradshaw Deputy Director of Finance Sharen Jackson Sharen Jackson Chief Financial Officer ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 4 Hilltop Securities J�* Portfolio Overview Portfolio Summary Income Summary ParValue 212,892,502.65 319,727,056.02 Interest Income 3,337,442.38 Original Cost 212,423,276.89 318,668,490.00 Net Amortization/Accretion 123,965.99 BookValue 212,715,647.04 318,926,623.02 Realized Gain/(Loss) 0.00 Market Value 212,858,444.40 319,166,471.52 Net Income 3,461,408.38 Accrued Interest 310,915.30 930,919.83 BookValue Plus Accrued 213,026,562.33 319,857,542.85 • . • Market Value Plus Accrued 213,169,359.70 320,097,391.35 Net Income 5,915,942.29 Net Unrealized Gain/(Loss) 142,797.36 239,848.50 Asset Allocation AGCY 6.60% LGIP 58.39% MMFUND 11.13% US GOVT 23.88% Transaction Summary City of Southlake January 1, 2025 - March 31, 2025 Portfolio Characteristics Yield to Maturity 4.657% 4.352% Yield to Worst 4.657% 4.352% Days to Final Maturity 46 147 Days to Effective Maturity 46 147 Duration 0.67 1.25 Buy 65,000,000.00 (64,252,456.62) (781,499.87) (65,033,956.49) 0.00 Maturity (5,000,000.00) 5,000,000.00 0.00 5,000,000.00 0.00 Coupon 0.00 0.00 846,625.00 846,625.00 0.00 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 5 Hilltop Securities. Portfolio Overview Maturity Distribution by Security Type ■ AGCY6.60% ■ LGIP 58.39% ■ MMFUND 11.13% ■ US GOVT 23.88% 75% 69.5 50% 25% 14.8 2.8 4.1 1.2 3.2 4.4 0% — r'` Maturity Distribution by Security Type City of Southlake As of March 31, 2025 Top Ten Holdings United States Department ofTheTreasury 23.88% TEXSTAR 19.07% TXCLASS 13.42% TEXPOOL 12.71 % Invesco 11.13% LON ESTRGOV 7.51 % LON ESTRCRP 5.68% Federal Farm Credit Banks Funding Corporation 3.77% Federal Home Loan Banks 2.82% securitylype • . . AGCY 9,008,492.91 12,029,882.85 21,038,375.76 LGIP 186,225,250.55 186,225,250.55 MMFUND 35,501,805.47 35,501,805.47 USGOVT 8,964,467.42 3,972,285.86 3,975,318.65 10,049,705.57 35,043,926.39 14,155,487.36 76,161,191.24 Total 221,727,056.02 8,964,467.42 12,980,778.77 3,975,318.65 10,049,705.57 47,073,809.24 14,155,48736 — — 318,926,623.02 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 6 Hilltop Securities J�* Asset Allocation Asset Allocation by Security Type as of 31-Dec-2024 AGCY 7.53% LGIP 82.22% US GOVT 10.25% Book Value Basis Security Distribution City of Southlake As of March 31, 2025 Asset Allocation by Security Type as of 31-Mar-2025 AGCY 6.60% LGIP 58.39% MMFUND 11.13% US GOVT 23.88% AGCY 16,022,317.90 7.53% (0.94%) 21,038,375.76 6.60% 4.660% LGIP 174,892,502.65 82.22% (23.83%) 186,225,250.55 58.39% 4.371% MMFUND 0.00 0.00% 11.13% 35,501,805.47 11.13% 4.270% USGOVT 21,800,826.49 10.25% 13.63% 76,161,191.24 23.88% 4.260% Portfolio Total 212,715,647.04 100.00% 318,926,623.02 100.000/0 4352% ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 7 Hilltop Securities. Credit Rating Summary Rating Distribution Local Government Investment Pools & Money Market Funds AAA 221,727,056.02 69.52% Total Local Government Investment Pools & Money Market Funds Long Term Rating Distribution AAA 221,727,056.02 97,199,567.00 69.52% 30.48% Total Long Term Rating Distribution 97,199,567.00 30.48% PortfolioTotal 318,926,623.02 100.000/0 City of Southlake As of March 31, 2025 Allocation by Rating AAA 100.00% ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 8 Hilltop Securities J�* Benchmark Comparison - City of Southlake 6 Month CMT - 1 Year CMT TexPool 6.00% 5.00% 4.000� City of Southlake As of March 31, 2025 3.00% O� �,ti'S Yield Overview City of Southlake 3.78 4.00 422 437 4.61 4.75 4.91 5.07 5.22 5.20 5.21 5.19 5.19 5.31 5.29 529 5.25 5.14 4.93 4.78 4.66 4.50 4.43 435 6 Month CMT 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 5.00 4.84 4.66 4.50 4.39 4.34 1 Year CMT 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 4.82 4.75 4.69 4.64 4.58 4.50 TexPool 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 4.91 4.73 4.56 4.39 4.36 4.33 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 9 Hilltop Securities J�* Fund Overview General Operating City of Southlake January 1, 2025 - March 31, 2025 212,715,647.04 212,858,444.40 106,308,027.12 318,926,623.02 319,166,471,52 3,461,408.38 147 4.352% 4.352% Total 212,715,647.04 212,858,444.40 106,308,027.12 318,926,623.02 319,166,47152 3p61,40838 147 4.352% 4.352% ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 10 Hilltop Securities J�* Detail of Security Holdings General Operating scoGov't&Agency INVSCSLAK MMFUND In LNSTCRP LGIP LoneStarCorpO/N LNSTGOV LGIP LoneStarGovO/N TEXPOOL LGIP TexPool TEXSTAR LGIP TexSTAR TXCLASS LGIP Texas CLASS 912828XB1 08/09/24 US GOVT U.S.Treasury Note 91282CEU1 05/02/24 USGOVT U.S. Treasury Note 313061FH5 05/20/24 AGCY FHLB 91282CFE6 05/10/24 US GOVT U.S.Treasury Note 3130AWS92 08/09/24 AGCY FHLB 91282CGA3 06/24/24 US GOVT U.S.Treasury Note 91282CGR6 03/13/25 US GOVT U.S.Treasury Note 3133ERDZ1 05/10/24 AGCY FFCB 3133ERGA3 06/24/24 AGCY FFCB 91282CLH2 02/21/25 US GOVT U.S.Treasury Note 91282CLS8 03/13/25 US GOVT U.S. Treasury Note 91282CME8 03/13/25 US GOVT U.S.Treasury Note 91282CMH1 03/13/25 US GOVT U.S.Treasury Note 3133EP6K6 02/21/25 AGCY FFCB 912828ZS2 03/13/25 US GOVT U.S.Treasury Note 91282CFH9 02/21/25 US GOVT U.S.Treasury Note Total General Operating City of Southlake As of March 31, 2025 03/31/25 35,501,805.47 100.000 35,501,805.47 35,501,805.47 100.000 35,501,805.47 1 4.270 4.270 AAA 03/31/25 18,114,258.14 100.000 18,114,258.14 18,114,258.14 100.000 18,114,258.14 1 4.450 4.450 AAA 03/31/25 23,962,412.42 100.000 23,962,412.42 23,962,412.42 100.000 23,962,412.42 1 4.330 4.330 AAA 03/31/25 40,545,573.78 100.000 40,545,573.78 40,545,573.78 100.000 40,545,573.78 1 4.335 4.335 AAA 03/31/25 60,804,827.05 100.000 60,804,827.05 60,804,827.05 100.000 60,804,827.05 1 4.339 4.339 AAA 03/31/25 42,798,179.16 100.000 42,798,179.16 42,798,179.16 100.000 42,798,179.16 1 4.438 4.438 AAA 2.125 05/15/25 4,000,000.00 98.125 3,925,000.00 3,988,050.75 99.719 3,988,750.00 45 4.640 4.640 AAA 2.875 06/15/25 5,000,000.00 97.473 4,873,632.81 4,976,416.67 99.688 4,984,375.00 76 5.224 5.224 AAA 5.090 07/15/25 5,000,000.00 100.037 5,001,831.80 5,000,388A3 100.201 5,010,050.00 106 5.063 5.063 AAA 3.125 08/15/25 4,000,000.00 97.703 3,908,125.00 3,972,285.86 99.563 3,982,500.00 137 5.015 5.015 AAA 4.875 09/12/25 4,000,000.00 100.486 4,019,440.00 4,008,104.47 100.244 4,009,744.00 165 4.410 4.410 AAA 4.000 12/15/25 4,000,000.00 98.730 3,949,218.75 3,975,318.65 99.906 3,996,250.00 259 4.902 4.902 AAA 4.625 03/15/26 10,000,000.00 100.523 10,052,343.75 10,049,705.57 100.500 10,050,000.00 349 4.088 4.088 AAA 4.750 05/08/26 3,000,000.00 99.820 2,994,588.00 2,996,953.22 100.686 3,020,589.00 403 4.846 4.846 AAA 5.000 06/04/26 4,000,000.00 100.429 4,017,141.00 4,010,611.88 101.036 4,041,420.00 430 4.765 4.765 AAA 3.750 08/31/26 5,000,000.00 99.242 4,962,109.38 4,964,734.72 99.688 4,984,375.00 518 4.270 4.270 AAA 4.125 10/31/26 10,000,000.00 100.164 10,016,406.25 10,016,040.36 100.250 10,025,000.00 579 4.018 4.018 AAA 4.250 12/31/26 10,000,000.00 100.422 10,042,187.50 10,041,067.94 100.516 10,051,562.50 640 4.002 4.002 AAA 4.125 01 /31 /27 10,000,000.00 100.227 10,022,656.25 10,022,083.36 100.344 10,034,375.00 671 3.997 3.997 AAA 4.500 03/26/27 5,000,000.00 100.467 5,023,355.05 5,022,317.75 101.021 5,051,050.00 725 4.263 4.263 AAA 0.500 05/31/27 10,000,000.00 92.676 9,267,578.13 9,284,163.20 92.984 9,298,437.50 791 3.984 3.984 AAA 3.125 08/31/27 5,000,000.00 97.316 4,865,820.31 4,871,324.16 98.219 4,910,937.50 883 4.260 4.260 AAA 319,727,056.02 318,668,490.00 318,926,623.02 319,166,471.52 147 4.352 4352 Grand Total 319,727,056.02 318,668,490.00 318,926,623.02 319,166,47152 147 4352 4352 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 1 Hilltop Securities J�* Earned Income General Operating City of Southlake January 1, 2025 - March 31, 2025 91282CED9 US GOVT U.S. Treasury Note 26,104.97 17,645.03 43,750.00 0.00 0.00 32,037.93 0.00 49,682.96 INVSCSLAK MMFUND I nvesco Gov't & Agency MM 0.00 831,398.16 642,649.91 0.00 188,748.25 0.00 0.00 831,398.16 LNSTCRP LGIP LoneStar Corp O/N 0.00 199,288.94 199,288.94 0.00 0.00 0.00 0.00 199,288.94 LNSTGOV LGIP LoneStar Gov O/N 0.00 254,620.39 254,620.39 0.00 0.00 0.00 0.00 254,620.39 TEXPOOL LGIP TexPool 0.00 507,006.01 507,006.01 0.00 0.00 0.00 0.00 507,006.01 TEXSTAR LGIP TexSTAR 0.00 649,477.09 649,477.09 0.00 0.00 0.00 0.00 649,477.09 TXCLASS LGIP Texas CLASS 0.00 399,270.38 399,270.38 0.00 0.00 0.00 0.00 399,270.38 912828XB1 US GOVT U.S. Treasury Note 11,035.91 21,132.60 0.00 0.00 32,168.51 24,441.65 0.00 45,574.25 91282CEU1 US GOVT U.S. Treasury Note 6,713.60 35,542.58 0.00 0.00 42,256.18 28,299.99 0.00 63,842.57 313061 FH5 AGCY FHLB 117,352.78 63,625.00 127,250.00 0.00 53,727.78 (330.84) 0.00 63,294.16 91282CFE6 US GOVT U.S. Treasury Note 47,214.67 30,824.00 62,500.00 0.00 15,538.67 17,970.05 0.00 48,794.05 3130AWS92 AGCY FHLB 59,041.67 48,750.00 97,500.00 0.00 10,291.67 (4,429.04) 0.00 44,320.96 91282CGA3 US GOVT U.S. Treasury Note 7,472.53 39,560.44 0.00 0.00 47,032.97 8,495.82 0.00 48,056.26 91282CGR6 US GOVT U.S. Treasury Note 0.00 23,920.74 231,250.00 (228,694.75) 21,365.49 (2,638.18) 0.00 21,282.56 3133ERDZ1 AGCY FFCB 20,979.17 35,625.00 0.00 0.00 56,604.17 665.13 0.00 36,290.13 3133ERGA3 AGCY FFCB 15,000.00 50,000.00 0.00 0.00 65,000.00 (2,165.14) 0.00 47,834.86 91282CLH2 US GOVT U.S. Treasury Note 0.00 19,930.04 93,750.00 (90,124.31) 16,304.35 2,625.34 0.00 22,555.38 91282CLS8 US GOVT U.S. Treasury Note 0.00 21,650.55 0.00 (151,553,87) 173,204.42 (365.89) 0.00 21,284.66 91282CME8 US GOVT U.S. Treasury Note 0.00 22,306.63 0.00 (84,530.39) 106,837.02 (1,119.56) 0.00 21,187.07 91282CMH1 US GOVT U.S. Treasury Note 0.00 21,650.56 0.00 (46,719.61) 68,370.17 (572.89) 0.00 21,077.66 3133EP6K6 AGCY FFCB 0.00 25,000.00 112,500.00 (90,625.00) 3,125.00 (1,037.30) 0.00 23,962.70 912828ZS2 US GOVT U.S. Treasury Note 0.00 2,609.89 0.00 (14,148.35) 16,758.24 16,585.07 0.00 19,194.96 91282CFH9 US GOVT U.S. Treasury Note 0.00 16,608.37 78,125.00 (75,103.59) 13,586.96 5,503.85 0.00 22,112.21 Total General 310,915.30 3,337A4238 3,498,937.72 (781,499.87) 930,919.83 123,965.99 0.00 3,461,408.38 Operating Grand Total 310,91530 3,337A42.38 3,498,937.72 (781,499.87) 930,919.83 123,965.99 0.00 3A61A08.38 CHilltop Securities Asset Management, LLC. All rights reserved. Page 12 Hilltop Securities J�* Investment Transactions General Operating Buy 91282CFH9 02/20/25 02/21/25 US GOVT U.S. Treasury Note 3.125 08/31/27 3133EP6K6 02/20/25 02/21/25 AGCY FFCB 4.500 03/26/27 91282CLH2 02/20/25 02/21/25 US GOVT U.S. Treasury Note 3.750 08/31/26 912828ZS2 03/12/25 03/13/25 US GOVT U.S. Treasury Note 0.500 05/31/27 91282CMH1 03/12/25 03/13/25 US GOVT U.S. Treasury Note 4.125 01/31/27 91282CME8 03/12/25 03/13/25 US GOVT U.S. Treasury Note 4.250 12/31/26 91282CLS8 03/12/25 03/13/25 US GOVT U.S. Treasury Note 4.125 10/31/26 91282CGR6 03/12/25 03/13/25 US GOVT U.S. Treasury Note 4.625 03/15/26 City of Southlake January 1, 2025 - March 31, 2025 5,000,000.00 97.316 4,865,820.31 75,103.59 4,940,923.90 0.00 4.260 4.260 5,000,000.00 100.467 5,023,355.05 90,625.00 5,113,980.05 0.00 4.263 4.263 5,000,000.00 99.242 4,962,109.38 90,124.31 5,052,233.69 0.00 4.270 4.270 10,000,000.00 92.676 9,267,578.13 14,148.35 9,281,726.48 0.00 3.984 3.984 10,000,000.00 100.227 10,022,656.25 46,719.61 10,069,375.86 0.00 3.997 3.997 10,000,000.00 100.422 10,042,187.50 84,530.39 10,126,717.89 0.00 4.002 4.002 10,000,000.00 100.164 10,016,406.25 151,553.87 10,167,960.12 0.00 4.018 4.018 10,000,000.00 100.523 10,052,343.75 228,694.75 10,281,038.50 0.00 4.088 4.088 Total Buy 65M,000.00 64,252,456.62 781,499.87 65,033,956.49 0.00 Coupon 313061FH5 01/15/25 01/15/25 AGCY FHLB 5.090 07/15/25 0.00 0.00 127,250.00 127,250.00 0.00 - - 91282CFE6 02/15/25 02/15/25 US GOVT U.S. Treasury Note 3.125 08/15/25 0.00 0.00 62,500.00 62,500.00 0.00 - - 91282CFH9 02/28/25 02/28/25 USGOVT U.S. Treasury Note 3.125 08/31/27 0.00 0.00 78,125.00 78,125.00 0.00 - - 91282CLH2 02/28/25 02/28/25 US GOVT U.S. Treasury Note 3.750 08/31/26 0.00 0.00 93,750.00 93,750.00 0.00 - - 3130AWS92 03/12/25 03/12/25 AGCY FHLB 4.875 09/12/25 0.00 0.00 97,500.00 97,500.00 0.00 - - 91282CED9 03/15/25 03/15/25 US GOVT U.S. Treasury Note 1.750 03/15/25 0.00 0.00 43,750.00 43,750.00 0.00 - - 91282CGR6 03/15/25 03/15/25 US GOVT U.S. Treasury Note 4.625 03/15/26 0.00 0.00 231,250.00 231,250.00 0.00 - - 3133EP6K6 03/26/25 03/26/25 AGCY FFCB 4.500 03/26/27 0.00 0.00 112,500.00 112,500.00 0.00 - - Total Coupon 0.00 0.00 846,625.00 846,625.00 0.00 Maturity 91282CED9 03/15/25 03/15/25 US GOVT U.S. Treasury Note 1.750 03/15/25 (5,000,000.00) 100.000 5,000,000.00 0.00 5,000,000.00 0.00 - - Total Maturity (51000,000.00) 5,000,000.00 0.00 5,000,000.00 0.00 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 13 Hilltop Securities J�* Investment Transactions Totals City of Southlake January 1, 2025 - March 31, 2025 Total Buy 65,000,000.00 (64,252,456.62) (781,499.87) (65,033,956.49) 0.00 4.075 4.075 Total Maturity (5,000,000.00) 5,000,000.00 0.00 5,000,000.00 0.00 5.007 5.007 Total Coupon 0.00 0.00 846,625.00 846,625.00 0.00 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 14 Hilltop Securities J�* Amortization and Accretion General Operating City of Southlake January 1, 2025 - March 31, 2025 91282CED9 03/12/24 US GOVT U.S. Treasury Note 0.00 0.000 0.00 32,037.93 0.00 0.00 0.00 912828XB1 08/09/24 USGOVT U.S. Treasury Note 4,000,000.00 98.125 3,925,000.00 24,441.65 63,050.75 (11,949.25) 3,988,050.75 91282CEU1 05/02/24 USGOVT U.S. Treasury Note 5,000,000.00 97A73 4,873,632.81 28,299.99 102,783.86 (23,583.33) 4,976,416.67 313061FH5 05/20/24 AGCY FHLB 5,000,000.00 100.037 5,001,831.80 (330.84) (1,443.37) 388.43 5,000,388.43 91282CFE6 05/10/24 USGOVT U.S. Treasury Note 4,000,000.00 97.703 3,908,125.00 17,970.05 64,160.86 (27,714.14) 3,972,285.86 3130AWS92 08/09/24 AGCY FHLB 4,000,000.00 100.486 4,019,440.00 (4,429.04) (11,335.53) 8,104.47 4,008,104.47 91282CGA3 06/24/24 US GOVT U.S. Treasury Note 4,000,000.00 98.730 3,949,218.75 8,495.82 26,099.90 (24,681.35) 3,975,318.65 91282CGR6 03/13/25 US GOVT U.S. Treasury Note 10,000,000.00 100.523 10,052,343.75 (2,638.18) (2,638.18) 49,705.57 10,049,705.57 3133ERDZ1 05/10/24 AGCY FFCB 3,000,000.00 99.820 2,994,588.00 665.13 2,365.22 (3,046.78) 2,996,953.22 3133ERGA3 06/24/24 AGCY FFCB 4,000,000.00 100.429 4,017,141.00 (2,165.14) (6,529.12) 10,611.88 4,010,611.88 91282CLH2 02/21/25 USGOVT U.S. Treasury Note 5,000,000.00 99.242 4,962,109.38 2,625.34 2,625.34 (35,265.28) 4,964,734.72 91282CLS8 03/13/25 US GOVT U.S. Treasury Note 10,000,000.00 100.164 10,016,406.25 (365.89) (365.89) 16,040.36 10,016,040.36 91282CME8 03/13/25 US GOVT U.S. Treasury Note 10,000,000.00 100.422 10,042,187.50 (1,119.56) (1,119.56) 41,067.94 10,041,067.94 91282CMH1 03/13/25 USGOVT U.S. Treasury Note 10,000,000.00 100.227 10,022,656.25 (572.89) (572.89) 22,083.36 10,022,083.36 3133EP6K6 02/21/25 AGCY FFCB 5,000,000.00 100.467 5,023,355.05 (1,037.30) (1,037.30) 22,317.75 5,022,317.75 912828ZS2 03/13/25 US GOVT U.S. Treasury Note 10,000,000.00 92.676 9,267,578.13 16,585.07 16,585.07 (715,836.80) 9,284,163.20 91282CFH9 02/21/25 USGOVT U.S. Treasury Note 5,000,000.00 97.316 4,865,820.31 5,503.85 5,503.85 (128,675.84) 4,871,324.16 Total General Operating 98,000,000.00 96,941,433.98 123,965.99 258,133.02 (800,433.00) 97,199,567.00 Grand Total 98,000,000.00 96,941,433.98 123,965.99 258,133.02 (800,433.00) 97,199,567.00 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 15 Hilltop Securities J�* Projected Cash Flows General Operating City of Southlake March 31, 2025 to March 31, 2026 91282CLS8 U.S.Treasury Note 04/30/25 206,250.00 206,250.00 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 912828ZS2 U.S. Treasury Note 06/02/25 25,000.00 25,000.00 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 91282CME8 U.S. Treasury Note 06/30/25 212,500.00 212,500.00 313061FH5 FHLB 07/15/25 127,250.00 127,250.00 313061FH5 FHLB 07/15/25 5,000,000.00 5,000,000.00 91282CMH1 U.S. Treasury Note 07/31/25 206,250.00 206,250.00 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 91282CFH9 U.S. Treasury Note 09/02/25 78,125.00 78,125.00 91282CLH2 U.S. Treasury Note 09/02/25 93,750.00 93,750.00 3130AWS92 FHLB 09/12/25 97,500.00 97,500.00 3130AWS92 FHLB 09/12/25 4,000,000.00 4,000,000.00 91282CGR6 U.S. Treasury Note 09/15/25 231,250.00 231,250.00 3133EP6K6 FFCB 09/26/25 112,500.00 112,500.00 91282CLS8 U.S. Treasury Note 10/31/25 206,250.00 206,250.00 3133ERDZ1 FFCB 11/10/25 71,250.00 71,250.00 912828ZS2 U.S. Treasury Note 12/01/25 25,000.00 25,000.00 3133ERGA3 FFCB 12/04/25 100,000.00 100,000.00 91282CGA3 U.S. Treasury Note 12/15/25 80,000.00 80,000.00 91282CGA3 U.S. Treasury Note 12/15/25 4,000,000.00 4,000,000.00 91282CME8 U.S. Treasury Note 12/31/25 212,500.00 212,500.00 91282CMH1 U.S. Treasury Note 02/02/26 206,250.00 206,250.00 91282CFH9 U.S. Treasury Note 03/02/26 78,125.00 78,125.00 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 16 Hilltop Securities J�* Projected Cash Flows City of Southlake March 31, 2025 to March 31, 2026 91282CLH2 U.S. Treasury Note 03/02/26 93,750.00 93,750.00 91282CGR6 U.S. Treasury Note 03/16/26 231,250.00 231,250.00 91282CGR6 U.S. Treasury Note 03/16/26 10,000,000.00 10,000,000.00 3133EP6K6 FFCB 03/26/26 112,500.00 112,500.00 Grand Total 3,235,375.00 36,000,000.00 39,235,375.00 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 17 Hilltop Securities J�* Projected Cash Flows Totals City of Southlake March 31, 2025 to March 31, 2026 April 2025 206,250.00 206,250.00 May 2025 113,750.00 4,000,000.00 4,113,750.00 June 2025 489,375.00 5,000,000.00 5,489,375.00 July 2025 333,500.00 5,000,000.00 5,333,500.00 August 2025 62,500.00 4,000,000.00 4,062,500.00 September 2025 613,125.00 4,000,000.00 4,613,125.00 October 2025 206,250.00 206,250.00 November 2025 71,250.00 71,250.00 December 2025 417,500.00 4,000,000.00 4,417,500.00 February 2026 206,250.00 206,250.00 March 2026 515,625.00 10,000,000.00 10,515,625.00 Total 3,235,375.00 36,OOQ000.00 39,235,375.00 $15,000,000 $10,000,000 $5,000,000 $0 Apr-25 May-2`; ■ Interest ■ Principal 3111 L I Jul-25 Aug-25 Oct Noy- Deg Feb-26 ©Hilltop Securities Asset Management, LLC. All rights reserved. Page 18 Securities � City of Southlake Hillto i� As of March 31, 2025 Disclosures & Disclaimers As a courtesy to investors this information: (1) is provided for informational purposes only; (2) should not be construed as an offer to sell or a solicitation of an offer to buy any security; and (3) does not replace customer statements. This report is designed to provide general information and is not intended to provide specific legal, investment, accounting, tax or other professional advice. It is important to review and save all source documents provided by a product sponsor or brokerage firm which may contain notices, disclosures and other information important to you and may also serve as a reference. If conflicts between this report and sponsor reports or confirmations exist, the information provided by the product sponsors shall prevail. Fees and sales charges paid may not be reflected in the information. The information and data contained herein is obtained from sources believed to be reliable but its accuracy or completeness is not guaranteed. Additionally, the information may contain assets held away from HTS, therefore investors should contact customer service or other representatives from the respective distributors or issuers to determine SIPC coverage for heldaway assets. HTS and HSAM do not guarantee the information contained herein or its accuracy or completeness regarding contributions, withdrawals, protected values. All information is subject to further review with client to validate final values. It is not possible to directly invest in an index. Financial forecasts, rates of return, risk, inflation, and other assumptions may be used as the basis for illustrations.They should not be considered a guarantee offuture performance or a guarantee of achieving overall financial objectives. Past performance is not a guarantee or a predictor of future results of either the indices or any particular investment. S&P rates the creditworthiness of individual bonds from: AAA highest to D lowest. Investing in fixed income securities involves interest rate risk, credit risk, and inflation risk. Interest rate risk is the possibility that bond prices will decrease because of an interest rate increase. When interest rates rise, bond prices and the values offixed income securities fall. When interest rates fall, bond prices and the values of fixed income securities rise. Credit risk is the risk that a company will not be able to pay its debts, including the interest on its bonds. Inflation risk is the possibility that the interest paid on an investment in bonds will be lower than the inflation rate, decreasing purchasing power. Cash alternatives typically include money market securities and U.S. treasury bills. Investing in such cash alternatives involves inflation risk. In addition, investments in money market securities may involve credit risk and a risk of principal loss. Because money market securities are neither insured nor guaranteed by the Federal Deposit Insurance Corporation or any other government agency, there is no guarantee the value of your investment will be maintained at $1.00 per share, and your shares, when sold, may be worth more or less than what you originally paid for them. U.S. Treasury bills are subject to market risk if sold prior to maturity. Market risk is the possibility that the value, when sold, might be less than the purchase price. Investing in stock securities involves volatility risk, market risk, business risk, and industry risk. The prices of most stocks fluctuate. Volatility risk is the chance that the value of a stock will fall. Market risk is the chance that the prices of all stocks will fall due to conditions in the economic environment. Business risk is the chance that a specific company's stock will fall because of issues affecting it. Industry risk is the chance that a set offactors particular to an industry group will adversely affect stock prices within the industry. Securities offered by HTS: (1) are not FDIC (Federal Deposit Insurance Corporation) insured; (2) are not bank deposits; (3) are not guaranteed by any bank or by any other federal government agency. None ofthe named entities are affiliates of HTS or HSAM.Hilltop Securities Asset Management (HSAM) is an SEC -registered investment advisor. Hilltop Securities Inc. (HTS) is a registered broker -dealer, registered investment adviser and municipal advisor firm that does not provide tax or legal advice. Member of FINRA & SIPC. HTS and HSAM are wholly owned subsidiaries of Hilltop Holdings, Inc. (NYSE: HTH) located at 717 N. Harwood St., Suite 3400, Dallas,Texas 75201, (214) 859-1800, 833-4HILLTOP. Copyright 2022, S&P Global Market Intelligence. Reproduction of any information, data or material, including ratings ("Content") in any form is prohibited except with the prior written permission ofthe relevant party. Such party, its affiliates and suppliers ("Content Providers") do not guarantee the accuracy, adequacy, completeness, timeliness or availability of any Content and are not responsible for any errors or omissions (negligent or otherwise), regardless ofthe cause, or for the results obtained from the use of such Content. In no event shall. Content Providers be liable for any damages, costs, expenses, legal fees, or losses (including lost income or lost profit and opportunity costs) in connection with any use ofthe Content. A reference to a particular investment or security, a rating or any observation concerning an investment that is part of the content is not a recommendation to buy, sell or hold such investment or security, does not address the suitability of an investment or security and should not be relied on as investment advice. Credit ratings are statements of opinions and are not statements of fact. OHilltop Securities Asset Management, LLC. All rights reserved. Page 19 EXPERIENCE � SOUTHLAKE The Marq Financial Review =CR excludes 115580-60" accounts CEDC FINANCIAL DASHBOARD 10,1,2024 9/30/2025 a3 Df 3/24/2025 1131 AM CD MARQ I cc LH NET REVENUE: c2rRRENT & PREVIOUS YEAR 63.00% 119,31% Target ATf 81.46% 49.4 400K 300K 200K 62.00% 99.34% 42.00% 117.76% Target ATT Target A1T 100K 2.18M 2.90M 1.90M 2.33M 282.07K 570.31 K Re��eaae Expense Rnenoe Expense R-e— Expense THE NIA] - MEMBERSHIP REVENUE (NET) 250K 200K 150K 100K 50K 0K OCCR • LHR —Total Re anue LY 39K 28K OK w�ww�www... ■wwwwww �rrwwwww ...www�wrrw . wwwwrrw wwwiwww wri..www www�www rriwwiwww wwwwww� Mar2024 Apr2024 May2C24 Jun 2024 Ju12024 Aug2024 Sep 2024 Oct 2024 No 2024 Dec 2024 Jan 2025 Feb 2025 Mar2025 THE MARQ RENTALS REVFd (NET) _ 1 •CC -Rental -Revenue ■LH-Rental-Re anue \Sum Re anue LY 70K 60K 50K 40K 30K 20K 1AK CK Mar Apr 2024 May Jun 2024 Jul 2024 Aug Sep 2024 Oct 2024 Nw Dec 2024 Jan 2025 Feb 2025 Mar 2024 2024 2024 2024 2025 Mar Apr 2024 May Jun 2024 Jul 2024 Aug Sep 2024 Oct 2024 Nw Dec Jan 2025 Feb 2025 Mar 2024 2024 2024 2024 2024 2025 MOTIONS CLU 11BIBERSHIP TRENDS aK 3690 3730 �M 3574 - - - 3537 35�4 3587 3557 - - - 3541 3634 3617 3664 3633 352b 3517 35b5 3287 3358 3374 3414 3447 3493 3485 3493 3472 347� 3K 3154 3155 3236 OK ' 350 300 250 200 0 150 100 50 CC MEMBERSHIPS CHANGES BY FISCAL YEAR & MONTH - JOINS rmal Year FY22 f FY23 f FY24 f FY25 N 350 300 250 0 200 E 150 100 50 0 0 — 2 4 5 12 fiscal Month JOINS 7 8 . FY22 172 205 2D9 254 173 192 239 350 31D 253 292 185 FY22 FY23 216 258 244 286 20 2212 204 326 268 266 294 203 FY23 FY24 198 182 236 318 236 225 245 2901 296 291 273 221 FY24 FY25 236I 210 2391 3D1 215 FY25 CC MEIIIBERSHIPS CHANGES BY FISCAL YEAR & MONTH - TERMS fiscal Year - FY22 f FY23 f FY24 f FY25 1661 142 1481 1751 1581 1351 1501 1911 223 197 2311 230 206 191 131 2131 201 171 175 240 236 253 320 263 197 134 1301 229 253 20D 258 241 261 252 357 377 2941 205 1961 2561 2501 1 1 1 1 lkvj 1040 1 1-ill MI ti . *11` Will 0 Fa mi ly No Child) ' at{h 0 Ad ult i Family ■ Se nior ! Youth 1: 22.01% 5.35 26.81% 34.5 3 1000 800 N 'a 200 0 Ninn-YEAR CC MEMBERSHIPS ANALYSIS BY MEMBERSHIP TYPE JOINS MU 77-YEAR CC MEMBERSHIPS ANALYSIS BY MEMBERSHIP TYPE - TERMINATIONS (Adult iFamily •Family No Child Watch •Senior;youth 0Adult •Family •Family No Child Watch • Seri ior •Youth N m n CD v co m m GO 806 o ti ti m n ti n Ln n 0 9 I9 m 67 ID b Lnfi00 p Ln a m v N — Fm m 400 m m 0 m JOINS FY24 m N N Ln 200 m Un 0 — FY25 FY23 Adult 582 766 846 961 421 Adult 411 111 773 921 111 Family 459 599 677 660 226 Family 338 393 568 676 271 Family No Child Watch 876 1006 965 892 356 Family No Child Watch 730 773 874 934 360 Senior 200 274 313 316 151 Senior 1271 1691 254 256 113 Youth 157 198 191 184 56 Youth 129 176 182 20061 FY25 EXPERIENCE SOUTHLAI<,.,.,E i Three Year Revenue Comparison by Month $1,000,000 $900,000 $800,000 $700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000 5 Fiscal Year 2023 Fiscal Year 2024 ■ Fiscal Year 2025 EXPERIENCE SOUTHLAI<,.,.,E i