Item 3B2 - Financial ReportReference
Page 3
Page 3
Page 4
Page 4
Page 5
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
April 2025
= Negative Variance of > 4% compared to seasonal trends.
Positive
City of Southlake Monthly Financial Report 1 5/14/2025
Item 3B2
National GDP:
ECONOMIC INDICATORS
NATIONAL ECONOMY
FINANCIAL ACTIVITY0.30%
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 "advanced" estimated GDP for the
1st quarter of 2025 decreased at a rate of 0.3%. In
the 4th quarter of 2024, GDP increased at a rate of
2.4%.
The National Unemployment rate for April 2025
remained unchanged at 4.2%, compared to March
2025.
National:
5 YEAR TREND OF NEW CONSTRUCTION PERMIT VALUES
Housing Starts:
Housing starts in March 2025 were at a seasonally
adjusted rate of 1,324,000, which is 11.4% below the
previous month figure of 1,494,000, but 1.9% above
the same month last year.
11.4%
UNEMPLOYMENT RATES
4.2%
The Dallas/Fort Worth/Arlington Metropolitan Area
unemployment rate for March 2025 (preliminary)
decreased to 3.8% when compared to 4.1% in
February 2025.
3.8%
State-wide:4.1%
The Texas Unemployment rate for March 2025
(preliminary) remained unchanged at 4.1% when
compared to February 2025.
DFW Area:
$-
$20,000,000
$40,000,000
$60,000,000
$80,000,000
$100,000,000
$120,000,000
2021*2022*2023*2024*2025*
Construction permit values*October-April
City of Southlake Monthly Financial Report 2 5/14/2025
GENERAL FUND
FY 2025
REVENUE
FY 2025
EXPENDITURE VARIANCE
Oct 995,965$ 3,045,596$ (2,049,631)$
Nov 2,899,854$ 4,712,733$ (1,812,879)$
Dec 6,811,678$ 4,042,253$ 2,769,425$
Jan 16,742,515$ 4,736,543$ 12,005,972$
Feb 9,551,595$ 4,115,350$ 5,436,245$
Mar 3,025,087$ 3,742,561$ (717,474)$
Apr 2,459,629$ 3,900,107$ (1,440,478)$
May -$ -$ -$
Jun -$ -$ -$
Jul -$ -$ -$
Aug -$ -$ -$
Sep -$
Tot 42,486,323$ 28,295,143$ 14,191,180$
POSITIVE
FY 2025 FY 2024 FY 2023
Oct 1,792,542$ 1,639,596$ 1,814,981$
Nov 1,815,114$ 1,701,432$ 1,813,575$
Dec 2,552,523$ 2,383,801$ 2,507,299$
Jan 1,722,503$ 1,643,095$ 1,539,514$
Feb 1,470,957$ 1,458,994$ 1,436,621$
Mar 1,961,273$ 1,859,641$ 1,836,177$
Apr -$ 1,749,381$ 1,708,466$
May -$ 1,660,932$ 1,745,742$
Jun -$ 1,777,233$ 1,819,551$
Jul -$ 1,653,109$ 1,620,652$
Aug 1,710,382$ 2,618,139$
Sep 1,690,978$ 1,968,439$
Tot 11,314,912$ 20,928,572$ 22,429,154$
POSITIVE
Year-to-date collections are trending higher than FY 2024 (5.9%%)and FY 2023 (3.4%)collections.March 2025 sales are higher than March 2024 (5.5%)and March 2023 (6.8%)collections.Year-to-date collections are
above budget for the year, so the outlook is considered positive. Staff will continue to monitor collections closely.
GENERAL FUND REVENUE VS EXPENDITURES 2025
OVERALL FUND PERFORMANCE:
REVENUE ANALYSIS
GENERAL FUND SALES TAX 2025-2023 COMPARISON
CHART OUTLOOK:
CHART OUTLOOK:
Year-to-date revenue is trending below budget. Staff will continue to monitor revenue and expenditures closely.
$-
$500,000
$1,000,000
$1,500,000
$2,000,000
$2,500,000
$3,000,000
FY 2025 FY 2024 FY 2023
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
$18,000,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2025 REVENUE FY 2025 EXPENDITURE 2024 EXPEND.
City of Southlake Monthly Financial Report 3 5/14/2025
GENERAL FUND
FY 2025 FY 2024 FY 2023
Oct 415,744$ 577,913$ 380,169$
Nov 2,389,817$ 2,012,904$ 2,011,080$
Dec 4,489,786$ 8,236,314$ 4,964,620$
Jan 14,130,006$ 10,376,818$ 12,756,146$
Feb 5,620,386$ 5,623,897$ 6,290,070$
Mar 640,868$ 532,180$ 560,775$
Apr 295,560$ 257,466$ 221,968$
May -$ 198,604$ 158,917$
Jun -$ 516,677$ 502,789$
Jul *-$ (1,139,094)$ (1,226,605)$
Aug -$ 88,418$ 69,910$
Sep -$ 16,945$ 41,259$
Tot 27,982,167$ 27,299,042$ 26,731,098$
POSITIVE
FY 2025 FY 2024 FY 2023
Oct 332,221$ 110,053$ 137,332$
Nov 121,292$ 284,653$ 118,803$
Dec 104,932$ 69,759$ 88,212$
Jan 133,336$ 90,986$ 231,884$
Feb 145,396$ 93,595$ 249,097$
Mar 135,536$ 226,182$ 98,675$
Apr 137,408$ 121,572$ 77,670$
May -$ 198,453$ 187,731$
Jun -$ 159,935$ 143,738$
Jul -$ 135,053$ 92,872$
Aug -$ 100,564$ 136,528$
Sep 156,642$ 157,382$
Tot 1,110,121$ 1,747,447$ 1,719,924$
POSITIVE
As of April,the 2025 YTD property tax collections ($27,982,167)are approximately 1.3%and 2.9%higher than 2024 YTD ($27,617,492)and 2023 YTD ($27,184,828),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.
* Net transfer of TIF revenues to
TIF fund
The value of new construction permits ($108.6M+)issued for FY 2025 YTD is approximately 5.8%and 28.9%higher than in FY 2024 and FY 2023,respectively.FY 2025 YTD permit revenue is 11.4%and 10.8%higher
than in FY 2024 and 2023, 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:
$(2,000,000)
$-
$2,000,000
$4,000,000
$6,000,000
$8,000,000
$10,000,000
$12,000,000
$14,000,000
$16,000,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul *Aug
FY 2025 FY 2024 FY 2023
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep
FY 2025 FY 2024 FY 2023
City of Southlake Monthly Financial Report 4 5/14/2025
FY 2025 ACTUAL
YTD (APRIL)
FY 2024 ACTUAL
YTD (APRIL)
FY 2025 BUDGET
YTD (APRIL)FY 2025 % SPENT
642,285$ 647,890$ 748,817$ 85.77%
513,426$ 423,732$ 452,755$ 113.40%
3,532,708$ 3,971,667$ 4,437,796$ 79.61%
330,038$ 325,333$ 408,316$ 80.83%
12,914,076$ 12,720,795$ 15,525,278$ 83.18%
281,976$ 209,896$ 336,226$ 83.87%
1,755,692$ 1,823,838$ 2,025,437$ 86.68%
370,998$ 540,939$ 613,789$ 60.44%
2,348,764$ 1,903,454$ 3,319,616$ 70.75%
1,298,790$ 1,383,346$ 1,584,418$ 81.97%
2,839,337$ 3,167,842$ 3,808,068$ 74.56%
1,467,053$ 1,647,345$ 1,756,206$ 83.54%
28,295,143$ 28,766,077$ 35,016,722$ 80.80%6,721,579$
CHART OUTLOOK:
289,153$
968,731$
(169,941)$
285,628$ PDS
BUDGET VARIANCE
106,532$
905,088$
(84,556)$
(328,505)$
(180,292)$
(470,934)$
As indicated above,2025 expenditures are less than 2024 expenditures for the same period,with a decrease of 1.6%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.
FY 2024/2025 YTD
VARIANCE
(5,605)$
(438,959)$
4,705$
193,281$
72,080$
(68,146)$
SS
Totals
PW
CMO
CS
445,310$
78,278$
2,611,202$
54,250$
269,745$
242,791$
970,852$
CSO
DPS
ED
FIN
HR
IT
DEPARTMENTAL EXPENDITURES SUMMARY
89,694$ (60,671)$ 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 2025 ACTUAL YTD (APRIL)FY 2024 ACTUAL YTD (APRIL)FY 2025 BUDGET YTD (APRIL)
City of Southlake Monthly Financial Report 5 5/14/2025