2023-065 Quarterly Financial Report ending June 30, 2023 October 13,2023 Report No. 2023-065
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
Quarterly Financial Report for the period ending June 30th, 2023.
BACKGROUND:
Attached, for your review is the Quarterly Financial Report for the period ending June 30th,
2023. If you have any questions or need additional information, please let me know.
STAFF CONTACT:
Aimee Kaslik, Interim Director of Finance
(940) 349-7899
Aimee.Kaslik@cityofdenton.com
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TOGETHER
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Fourth Quarter Financial Report
About This Quarterly Financial
Report
This report has been prepared by the City of Denton's Finance
Department. The Quarterly Financial Report is intended to provide
our users (internal and external) with information regarding the City's
financial position and economic activity. This report includes
information for the quarter ending June 30th, 2023.
This report is presented in four sections.
1 . The Executive Dashboard section contains a high-level
summary of the major operating funds using graphic
illustrations and key economic indicators. Narrative disclosures
are also included to highlight any significant changes or
fluctuations.
2. The Financial Summary section reports the performance of the
major operating funds of the City. In addition, the report
provides preliminary actuals and a comparison to the budget for
major revenue sources and expenditure items.
3. The Revenue & Economic Analysis section provides additional
analysis regarding key revenue sources and economic
indicators.
4. The Quarterly Investment Report section provides a summary
of the City's investment portfolio, interest earnings and a brief
market outlook.
The Quarterly Financial Report is intended to provide our users with
timely and relevant information. Please provide us with any
comments or suggestions you may have. If you would like additional
information, feel free to contact me.
Aimee Kaslik
Interim Director of Finance
215 East McKinney Street
Denton, TX 76201
940-349-7899
Section 1
City of Denton
Quarterly Financial Report
June 2023
Executive Dashboards
City of Denton, Texas
OF General Fund Executive Dashboard 1 TO ft
!hIl
D ENT O N FY 2022-23 FY 2022-23 FY 2022-23 n
ANNUAL YTD PROJECTIONS
DESCRIPTION BUDGET ACTUALS ANNUAL VARIANCE Revenue & Expenses (in Millions)
Beginning Fund Balance ■YTD Revenue ■YTD Expenses
as of 09/30/221 $ 40.81 $ 45.46 $ 45.46 $160
RES O URC ES: $140
Ad Valorem Taxes 57.78 57.19 57.53 0%
Sales Tax 54.72 41.62 55.03 1% $120
Franchise Fees 2.72 3.22 4.50 65%
Other Taxes 0.46 0.34 0.45 -3% $100
Service Fees 8.37 6.13 9.19 10%
Fines and Fees 2.40 1.37 1.87 -22% $80
Licenses and Permits 8.86 4.77 6.29 -29%
Miscellaneous Revenue 5.04 4.76 5.15 2% $60
Transfers In 42.51 22.07 33.95 -20%
Total Revenues 182.86 141.48 173.96 -5% $40
Total Resources 223.67 186.94 219.42 $20
EXPENDITURES: _
Personnel Services 114.87 83.85 113.93 -1% $
Material and Supolies 3.76 2.43 4.24 13% �ti �`L �ti �'' �'� �'' �''
Maintenance and Repairs 2.06 1.39 2.50 21%
Insurance 3.25 2.49 3.32 2%
Miscellaneous 2.66 1.37 2.33 -13%
Operations 34.86 12.62 24.83 -29% Sales Tax Monthly Average by Quarter
Transfers Out 21.96 17.13 22.41 2% $6.0
Fixed Assets 0.54 0.40 0.55 1%
Total Expenditures 183.96 121.68 174.11 -5% $5.0
Net Income (Loss) (1.10) 19.80 (0.15)
Ending Fund Balance $ 39.71 $ 65.26 $ 45.31 $4.0
Key Trends $3.0
➢Revenues from investment income is trending above budget.
➢Franchise Fee revenues are trending higher than budget $2.0
➢Revenues from sales tax remain flat for quarter three.
➢Revenue from Building Permits are lower than expected. $1.0
➢Insurance expenses have increased.
➢Cost of Service expenses have increased.
➢Operation expenditures are trending lower than expected. $
ti� ti� ti� ti� ti� titi titi titi ti� ti� ti�
'Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was
estimated in the FY 2022-23 budget process.
Note: All figures presented are in millions of dollars.
City of Denton, Texas
CITY Electric Fund Executive Dashboard _
DENTON FY 2022-23 FY 2022-23
ANNUAL YTD PROJECTIONS
DESCRIPTION BUDGET ' ACTUALS ANNUAL VARIANCE
Beginning Working Capital $250 Revenue & Expenses (in Millions)
and Reserves as of 9/30/22 $ 136.99 $ 140.78 $ 140.78
RESOURCES: $200
Rate Revenues 296.23 128.87 205.29 -31%
Transmission Revenue 45.77 42.17 55.04 20% $150
Other Revenues 5.36 5.24 5.36 0%
DEC Revenues 52.55 24.31 50.92 -3%
$100
Total Revenues 399.91 200.59 316.61 -21%
Total Resources 536.90 341.37 457.39 $50
EXPENDITURES:
Purchased Power 197.75 91.35 162.85 -18% $0
DEC Fuel 3 7.0 5 7.6 6 22.38 -4 0% Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
Transmission of Power 22.10 15.82 22.10 0%
PersonnelService 25.89 16.27 22.38 -14% ■YTD Revenue OYTD Expense
Operation and Maintenance 53.15 28.94 47.88 -10%
Debt Service 62.45 54.06 62.45 0% 2017-2023 Historical Quarterly GWH Sales
Transfers Out 15.19 11.38 15.45 2% 600
Capital Outlay 1.83 4.62 4.70 157%
Total Expenditures 415.41 230.10 360.19 -13% 500
Net Income (Loss) (15.50) (29.51) (43.58)
400 A A A A
Ending Working Capital s�j U X.J \J L/u
and Reserves $ 121.49 $ 111.27 $ 97.20 300
I 200
TrendsKey 100
➢DEC Fuel expenses are projected lower than budget due to a decrease in fuel costs.
0
1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
Note: All figures presented are in millions of dollars.
'Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY 2022-23 budget process.
City of Denton, Texas
cOF iiamigtiLl ITY ----
Water Fund Executive Dashboard
DENTONFY 2022-23 FY 2022-23
Revenue & Expenses (in Millions)
ANNUAL YTD PROJECTIONS $45
DESCRIPTION BUDGET ' ACTUALS ANNUAL VARIANCE $40
Beginning Working Capital
$35
and Reserves as of 09/30/222 $ 24.71 $ 29.59 $ 29.59
RESOURCES: $30
Water Sales 43.83 30.03 43.81 0% $25 -
Other Water Revenues 8.14 1.61 2.09 -74% $20
Transfers In 3.57 2.17 3.57 0% $15
Impact Fee Revenue 6.61 4.95 6.60 0% $10
Total Revenues 62.15 38.76 56.07 -10% $5
Total Resources 86.86 68.35 85.66 $-
EXP ENDITURES: Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
PersonnelService 10.02 6.45 8.80 -12% ■YTDRevenue ■YTDExpenses
Operations, Services 13.57 9.49 13.73 1%
Capital Outlay 21.18 7.94 14.36 -32% 2016-2023 Historical Quarterly Gallons sold (in Millions)
Debt Service 10.24 9.69 10.24 0%
3,000
Transfers Out 8.05 6.47 8.05 0%
Total Expenditures 63.06 40.04 55.18 -12% 2,500
Net Income (Loss) (0.91) (1.28) 0.89
Ending Working Capital 2,000
and Reserves $ 23.80 $ 28.31 $ 30.48
Key 1,500
Trends
➢Other Water Revenues and Capital Outlay both decreased from budget due to cost 1,000
participation payments now expected to be received in future fiscal years.
➢Personnel Services are currently projected to come in under budget by $1.2M 500
'Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the 0
FY 2022-23 budget process. ^� �� 1�1 `^� `�ti -IV,2
a oa a oa a oa a oa oa oa a oa a oa
The Beginning Working Capital balance excludes$32.8 million of Impact Fee Reserves and$2.4 million in additional reserves
related to future payments to the Army Corps of Engineers for Lake Lewisville dam repairs.
Note: All figures presented are in millions of dollars.
City of Denton, Texas
11---
TY OF Wastewater Fund Executive DashboardV Mir
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wpm
FY 2022-23 in
DENTON FANNUAL3 YTD PROJECTIONS
DESCRIPTION BUDGET ] ACTUALS ANNUAL VARIANCE
Beginning Working Capital Revenue & Expenses (in Millions)
and Reserves as of 09/30/222 $ 24.81 $ 28.12 $ 28.12 $45
RESOURCES: $40
Wastewater Fees 29.32 20.40 27.86 -5% $35
Other Wastewater Revenue 2.52 1.99 2.20 -13% $30
Drainage Fees 5.84 3.49 4.70 -20% $25
Cost Participation 13.65 - - -100% $20
Transferin 0.61 0.46 0.61 0% $15
Impact Fee Revenue 4.27 3.20 4.27 0% $10
Total Revenues 56.21 29.54 39.64 -29% $5
Total Resources 81.02 57.66 67.76 $-
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
EXP ENDTTURES:
PersonnelService 8.78 5.96 8.45 -4%
■YTD Revenue ■YTD Expenses
Operations, Services 10.84 7.58 11.52 6%
Capital Outlay 29.76 13.86 15.25 -49% 2016-2023 Historical Quarterly Gallons Billed (in Millions)
Debt Service 8.63 8.03 8.63 0% 1,400
Transfer Out 8.47 6.57 8.47 0%
Total Expenditures 66.48 42.00 52.32 -21% 1,200
Net Income (Loss) (10.27) (12.46) (12.68) 1,000
Ending Working Capital 800
and Reserves $ 14.54 $ 15.66 $ 15.44 600
400
Key
200
•
0
➢Cost participation and capital outlay both decreased from budget due to cost ti° ti ti� ti�
p p p Y g
participation reimbursements that are now being expected in the next fiscal year.
'Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in
the FY 2022-23 budget process. Note: All figures presented are in millions of dollars.
2The Beginning Working Capital balance excludes$20.4 million of Impact Fee Reserves,$1.0 million for Drainage Reserves.
&- - City of Denton, Texas s
IMMOM Drainage Operations Executive Dashboard I ---
DENTON
FY 2022-23 FY 2022-23
ANNUAL YTD P ROJECTIONS Revenue & Expenses(in Millions)
DESCRIPTION BUDGET ACTUALS ANNUAL VARIANCE
REVENUES: $4.0
Residential Drainage Fees $ 2.18 $ 1.60 $ 2.18 0%
Nonresidential Drainage Fees 3.65 1.89 2.63 _28% $3.5
Wastewater Resources 0.07 - 0.02 -71% $3.0
General Fund Transfer 0.38 0.28 0.38 0%
Total Revenues 6.28 3.77 5.21 -17% $2.5
$2.0
EXPENDITURES:
Personnel Service 2.24 1.37 2.05 -8% $1.5
Operations, Services 1.07 0.58 0.77 -28%
Capital Outlay 2.23 0.62 1.65 -26% $1.0
Debt Service - - - 0% $0.5
Trans ferOut 0.74 0.42 0.74 0%
Total Expenditures 6.28 2.99 5.21 -17% $
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
Net Income (Loss) $ - $ 0.78 $ - ■YTD Revenue ■YTD Expenses
TrendsKey
➢Revenues from auction proceeds are expected to come in under budget due
to timing of the auction sale at the end of the fiscal year.
➢Expenses are expected to meet budgeted levels.
Note: All figures presented are in millions of dollars.
7M
City of Denton, Texas
1OtF
r
i
Solid Waste Fund Executive Dashboard
DENTON
FY2022-23 FY2022-23
ANNUAL YTD PROJECTIONS
DES CRIP TION BUDGET 1 ACTUALS ANNUAL VARIANCE 10,000 Residential Curbside Collection Tonnage
Beginning Working Capital 9,000
and Reserves as of09/30/222 $ 10.27 $ 12.14 $ 12.14 8,000
RES OURCES : 7,000
Collection & Disposal 31.01 23.37 30.64 - 1% 6,000
Recycling 7.31 5.51 7.23 - 1% 5,000
Other Revenue 1.03 0.94 1.45 41% 4,000
Total Revenues 39.35 29.82 39.32 0% 3,000
Total Resources 49.62 41.96 51.46 2,0001,000
EXPENDITURES : 0
Personnel Service 12.32 8.63 12.00 -3%
Operations, Services 10.55 7.48 10.11 -4% Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Capital Outlay 8.24 7.73 8.04 -2%
De bt S e rvic a 3.90 3.71 3.90 0% ■ Recycling and ReuseTonnage
La n d fill Clo s u re 0.74 0.55 0.74 0% Commercial Refuse & Recycling (Front & Side Load)
Tra n s fe r Out 5.96 3.63 5.96 0% Cubic Yards Serviced per Week
Total Expenditures 41.71 31.73 40.75 -2%
Ne t In c o me (Loss) (2.36) (1.91) (1.43) 30,000
Ending Working Capital 25,000
and Reserves $ 7.91 $ 10.23 $ 10.71 20,000
15,000
Key Trends 10,000 ti1411 It
I
till° ti tihl° ti�,l
5,00 0
➢Personnel plus Material and Supplies expenses are trending below budget.
0
Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
■Commercial Refuse ■Commercial Recycling
'Annual adopted budget as amended or modified. Beginning Working Capital and Reserves represents the amount which was
estimated in the FY 2022-23 budget process.
2The Beginning Working Capital and Reserves excludes$12.68 million of Landfill Closure/Post Closure reserves. Note: All figures presented are In millions of dollars.
City of Denton, Texas
in
111i1� Airport Fund Executive Dashboard 4� s o
D E N T O N FY2022 23 FY2022-23
ANNUAL YID PROJECTIONS
DESCRIPTION BUDGET'1 ACTUALS ANNUAL VARIANCE
Beginning Working Capital GAS WELL REVENUE
and Reserves as of09/30/22 $ 2.38 $ 3.14 $ 3.14 (in millions of dollars by fiscal year)
RESOURCES: $2.0
Airport Ground Leases 0.84 0.69 0.84 0%
FBO Comnussions 0.24 0.27 0.31 29%
Fuel Flowage Fees 0.14 0.09 0.38 171%
Total Operating Revenues 1.22 1.05 1.53 25%
EXPENDITURES: $1.0
Personnel Services 0.56 0.53 0.72 29%
Operations,Services 0.44 0.14 0.35 -20%
Transfer Out 0.46 0.40 0.44 4%
Total Operating Expenditures 1.46 1.07 1.51 3%
Net Operating Income(Loss) (0.24) (0.02) 0.02 $0.011 1 1-Uh 1 0 1 11
NON-OPERATING REVENUES: 2021 2022 2023
Investment Income 0.01 0.16 0.20 1900%
Gras Well Royalties 0.32 0.24 0.40 25%
Miscellaneos Income 0.00 0.00 0.00 0% AIRPORT OPERATIONS BY QUARTER
Total Non-Operating Revenues 0.33 0A1 0.60 82% (takeoff or landing by fiscal year)
NON-OPERATING EXPENDITURES: 60,000
Debt Service 0.74 0.69 0.74 0%
TransferOut-Capital - - - 0%
Total Non-Operating Expenditures 0.74 0.69 0.74 0% 50,000
Net Non-Operating Income(Loss) (0.41) (0.28) (0.14)
Net Income(Loss) (0.65) (0.31) (0.12) 40,000
Ending Working Capital and Reserves $ 1.73 $ 2.83 $ 3.02
30,000
Key Trends -
➢Interest earned on investments is well above original budget expectations. 20,000
ti� tiN ti� tiN tiN titi ti� titi titi ti� ti� ti�
➢A focus on controlling costs has kept most expense groups well under budget
expectations.
'Annual adopted budget as amended or modified.Beginning Working Capital and Reserves represents the amount Note:All financial amounts presented are In millions of dollars.
which was estimated in the FY 2022-23 budget process.
IOCITY City of Denton, Texas r
F 3 +
DENTONStreet Improvement Fund Executive Dashboard -
FY 2022-23 FY 2022-23 S16.0 Revenues & Expenditures (in Millions)
-
ANNUAL YTD PROJECTIONS $14.0
DESCRIPTION BUDGET' ACTUALS ANNUAL VARIANCE $12.0
Beginning Working Capital $10.0
$8.0
and Reserves as of 09/30/22 $ 3.60 $ 4.50 $ 4.50
$6.0
RES O URC ES: $4.0
Franchise Fees 15.10 11.51 15.10 0% $2.0 m
Investment Income 0.04 0.17 0.22 -82% $0.0
Oct Nov Dec Jan Feb Mar Apr May June
Transfers In 1.31 0.99 1.31 0%
Total Revenues 16.45 12.67 16.63 ■YTD Revenues ■YTD Expenditures
Total Resources 20.05 17.17 21.13
EXPENDITURES: 12 Tons of Asphalt Laid (in Thousands)
Personnel Services 3.97 2.40 3.96 0% 10
8
Materials &Supplies 0.10 0.09 0.13 -23% 6
Maintenance &Repairs 4.29 3.82 5.39 -20% 4 -
Operations,Services 1.35 1.10 1.35 0% 20
Transfer Out 7.63 6.20 7.63 0% Qtr1 Qtr2 Qtr3
■FY 21-22 ■FY 22-23
Total Expenditures 17.34 13.61 18.46
Net Income (Loss) $ (0.89) $ (0.94) $ (1.83) Lane Miles Surface Treatment
40.0
30.0
TrendsKey
20.0
➢Revenues and expenditures are projected to meet budgeted level. 10.0
➢Interest earned on investments is well above original budget expectations.
0.0
Qtrl Qtr2 Qtr3
'Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was ■FY 21-22 ■FY 22-23
estimated in the FY 2022-23 budget process. * Note:There was no activity for 2"d and 3rd Quarters
due to the high temperatures.
Note: All figures presented are in millions of dollars.
City of Denton, Texas
IAoFya
a
Grants Dashboard
DENTON
FYn20�2�2--23 FY�2702222-23 FY 2022-23 Awards & Expenses (in Millions)
GRAN 1 D $60.0
DESCRIPTION AMOUNT ACTUALS
2022-23 Budget $40.0
Comm Development $ 5,65 $ 1.28
Public Safety 5,99 1,05 $20.0
Transportation 52,61 4,98
Other 20.57 4.62 $_
Total Budget 84.82 11,93 2 w m w Q
UU � a <
New Awards
■Awards ■Expenses
Public Safety 0,23 0.23
Transportation 0,40 0.40 FY 2022-23 Grants Awarded
Total New Awards 0,63 0,63 COMM DEV
OTHER 6.61% PUBLIC
Totals $ 85,45 $ 12.56 24.07% SAFETY
7.28%
Key Trends:
The following grants have been received in FY 2022-23: \
➢Federal Equitable Sharing: $46,000 ➢DWI Phlebotomy Program:$26,583
➢Chapter 59 Asset Forfeitures: $39,416 ➢Police-Law Enforcement Officer Standards
➢U.S.Marshals Violent Offenders Task: $64,492 Education: $4,716
➢North Texas Organized Crime Task Force:$6,098 ➢Fire-Law Enforcement Officer Standards
Education:$25
➢U.S.Immigration&Customs Enforcement: $357 ➢TxDot-Bonnie Brae-Windsor Drive to US
➢FY2021 Improving Criminal Justice Responses: $26,440 TRANS
➢Texas Department of Public Safety's Texas Division of 77:$396,631➢Rural Texas Women at Work:$600 62.04%
Emergency Management(TDEM)-Winter Storm: $1,753
➢2022 SHSP-Hazmat Dry Decon Kit:$13,291 ➢Eco-poetry:A Community-Based Discussion
Series:$1,500
Note: All figures presented are in millions of dollars.
Section 2
City of Denton
Quarterly Financial Report
June 2023
This report is designed for internal use and does not include all the
funds and accounts included in the City of Denton's operations. The
information provided is unaudited; for a complete audited report,
please refer to the City of Denton Comprehensive Annual Financial
Report, available through the City's Finance Department, City
Secretary's Office, or Denton Public Libraries.
FINANCIAL SUMMARY
City of Denton
General Fund
Schedule of Revenues-Budget vs Projection(Unaudited)
For the Period Ended June 30,2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
REVENUE DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET PROJECTION PROJECTION
Current Year-Ad Valorem $ 48,065,826 $ 42,834,207 $ 56,843,258 $ 57,104,662 57,100,977 0%
Delinquent-Ad Valorem 92,213 89,100 58,332 135,000 68,011 -50%
Miscellaneous Penalties&Fees 298,853 415,750 289,413 538,000 358,479 -33%
Ad Valorem Taxes 48,456,892 43,339,057 57,191,003 57,777,662 57,527,467 0%
Sales Tax 38,651,904 41,588,737 419616,360 54,722,022 559025,949 1%
Franchise-Gas Utilities 217,863 126,818 345,065 2259478 373,893 66%
Franchise-Private Electric Utilities 329937 12,178 44,501 509522 83,777 66%
Franchise-Cable 929959 105,471 106,058 1749998 290,185 66%
Franchise-Telecom 14,333 14,271 11,293 35,522 58,903 66%
Franchise-Denton Municipal Utilities 1,950,160 1,322,371 2,710,979 2,229,597 31697,166 66%
Franchise Fees 2,308,252 1,581,109 31217,896 21716,117 4,503,924 66%
Other Taxes 292,802 229,002 336,347 458,003 446,728 -2%
Ambulance Service Fees 2,438,002 1,823,531 2,546,360 3,305,828 4,343,347 31%
Fire Department Fees 146,976 83,743 1839556 161,657 203,892 26%
Building Inspections Fees 511,753 436,395 5669962 615,843 783,789 27%
Park Department Fees 1,059,137 881,878 1,156,655 1,760,272 1,573,473 -11%
Planning Department Fees 2,024,067 1,762,402 1,600,071 2,379,380 2,034,420 -14%
Miscellaneous Service Fees 77,516 110,717 81,131 147,616 255,519 73%
Service Fees 6,257,451 51098,666 61134,735 81370,596 9,194,440 10%
Denton Municipal Fines 499,520 634,509 464,495 846,000 747,175 -12%
Parking Fines 719025 104,250 83,020 139,000 87,805 -37%
Miscellaneous Fines and Fees 315,692 385,173 313,222 545,619 426,718 -22%
Court Administrative and Service Fees 467,376 627,724 514,188 866,137 608,272 -30%
Fines and Fees 1,353,613 11751,656 11374,925 21396,756 1,869,970 -22%
Demolition Permits 6,358 9,117 15,476 12,156 19,109 57%
Building Permits 6,163,167 6,596,372 4,678,006 8,777,904 6,165,982 -30%
Certificate of Occupancy 60,450 41,418 58,233 55,222 73,463 33%
Miscellaneous Licenses and Permits (1,363) 10,126 22,283 13,502 26,514 96%
Licenses and Permits 6,228,612 6,657,033 41773,998 81858,784 6,285,068 -29%
Investment Income 155,860 112,515 1,689,712 150,000 1,900,000 1167%
Miscellaneous Revenues 2,881,876 3,048,932 3,070,889 4,891,862 3,253,651 -33%
Miscellaneous Resources 3,037,736 3,161,447 4,760,601 5,041,862 5,153,651 2%
ROI-Denton Municipal Utilities 11,253,676 10,926,641 11,861,154 14,943,924 15,691,485 5%
Transfers 9,967,155 20,683,007 109209,446 27,573,659 18,263,062 -34%
Transfers 21,220,831 31,609,648 229070,600 42,517,583 33,954,547 -20%
Total General Fund Revenues $ 127,808,093 $ 135,016,355 $ 141,476,465 $ 182,859,385 $ 173,961,744 -5%
City of Denton
General Fund
Schedule of Expenditures-Budget vs Projection(Unaudited)
For the Period Ended June 30,2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
Y-T-D Y-T-D Y-T-D BUDGET PROJECTION PROJECTION
NEIGHBORHOOD SERVICES
Building Inspections $ 2,544,065 $ 2,962,439 $ 2,644,325 $ 3,949,385 $ 3,600,193 -9%
Community Improvement Services 6,062 - - - - 0%
Libraries 4,698,881 4,664,410 4,576,099 6,2189347 6,1849828 -1%
Parks and Recreation 10,5419403 12,512,945 10,673,102 16,6819570 17,0149118 2%
Planning 2,3449051 2,367,133 1,853,494 3,0939774 2,5909368 -16%
Development Services Admin 868,123 1,077,831 19161,290 1,436,912 1,550,534 8%
Gas Well Review 689038 285,204 131,798 3809218 4759969 25%
Social Services 1,757,149 29491,232 29035,541 3,321,188 3,056,081 -8%
22,827,772 269361,194 239075,649 35,081,394 34,472,091 -2%
PUBLIC SAFETY
Animal Services 1,783,831 29099,539 29032,760 2,798,999 3,022,671 8%
Fire 27,264,629 299512,502 289943,731 39,344,725 39,572,763 1%
Municipal Judge 4069861 492,545 490,768 6569630 6559412 0%
Police 33,271,098 379588,087 37,715,136 49,793,655 50,757,998 2%
62,726,419 69,692,673 69,182,395 92,594,009 94,008,844 2%
TRANSPORTATION
Traffic Operations 1,693,108 2,108,370 1,974,684 2,810,774 2,928,133 4%
Street Lighting 7059723 675,090 706,975 900,000 8219514 -9%
2,398,831 2,783,460 2,681,659 3,710,774 3,749,647 1%
ADMINISTRATIVE&COMMUNITY SERVICES
City Manager's Office 1,7459347 2,239,726 29465,999 2,981,451 3,353,280 12%
Economic Development 1,897,734 3,873,963 29448,625 5,164,576 3,661,393 -29%
Finance 4,007,530 4,739,236 4,223,514 6,318,106 5,699,988 -10%
Human Resources 2,161,807 2,817,992 2,533,112 3,746,820 3,498,481 -7%
Internal Audit 434,910 438,320 446,507 5849337 616,150 5%
Legal Administration 2,104,897 2,439,231 29097,593 3,251,866 3,280,077 1%
Public Affairs 1,375,443 1,852,008 1,663,645 2,469,006 2,614,939 6%
Non-Departmental 9,244,617 21,028,038 10,861,532 28,058,063 19,152,127 -32%
22,972,285 39,428,514 26,740,527 52,574,225 41,876,433 -20%
TOTAL EXPENDITURES $ 110,9259307 $ 138,265,841 $ 121,680,230 $ 183,9609402 $ 174,1079015 -5%
City of Denton
Electric Fund
Schedule of Revenues and Expenditures-Budget vs Projection(Unaudited)
For the Period Ended June 30,2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGETt PROJECTION PROJECTION
Beginning Working Capital
and Reserves as of 9/30/22 $ 136,994,639 $ 140,776,983
REVENUES:
Rate Revenues $ 107,769,448 $ 215,406,423 $ 128,870,564 296,233,119 205,285,483 -31%
Transmission Revenues 39,982,949 27,829,147 42,161,368 45,766,756 55,040,615 20%
Other Revenues 18,545,963 3,499,399 5,244,632 5,361,857 5,361,857 0%
DEC Revenues 28,467,047 33,610,864 24,309,899 52,550,029 50,920,789 -3%
Total Revenues 194,765,407 280,345,833 200,586,463 399,911,761 316,608,744 -21%
EXPENDITURES:
Purchased Power 54,906,889 136,077,745 91,345,990 197,752,530 162,852,000 -18%
DEC Fuel 13,156,681 25,492,651 7,659,129 37,052,865 22,377,153 -40%
Transmission of Power 13,987,758 12,654,304 15,820,171 22,102,442 22,102,442 0%
Personnel Services 15,090,652 19,819,180 16,274,861 25,893,467 22,379,617 -14%
Materials and Supplies 1,026,752 1,768,002 1,373,472 2,694,083 2,686,013 0%
Maintenance and Repair 901,651 939,980 1,598,329 1,367,117 1,600,000 17%
Insurance 3,312,585 2,455,163 1,926,797 3,273,550 3,273,550 0%
Return on Investment 9,572,973 12,941,540 10,063,968 19,381,951 15,547,329 -20%
Franchise Fee 7,970,094 10,684,064 8,379,085 15,997,986 12,956,108 -19%
Miscellaneous 479,878 637,815 481,229 749,538 755,600 1%
Operations 4,010,871 7,247,075 5,116,013 9,684,524 11,065,981 14%
Debt Service 53,334,771 54,056,560 54,056,560 62,445,059 62,445,059 0%
Interfund Transfers 12,609,564 11,394,209 11,379,747 15,192,278 15,454,928 2%
Capital Outlay 133,494 4,624,896 4,624,896 1,830,750 4,700,000 157%
Total Expenditures 190,494,613 300,793,184 230,100,247 415,418,140 360,195,780 -13%
Net Income(Loss) $ 4,270,794 $ (20,447,351) $ (29,513,784) (15,506,379) (43,587,036)
Ending Working Capital and Reserves $ 121,488,260 $ 97,189,947
'Annual adopted budget as amended or modified.Beginning Working Capital and Reserves represents the amount
which was estimated in the FY 2022-23 budget process.
City of Denton
Water Fund
Schedule of Revenues and Expenditures-Budget vs Projection(Unaudited)
For the Period Ended June 30,2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET PROJECTION PROJECTION
Beginning Working Capital
and Reserves as of 09/30/221 $ 24,705,221 $ 29,588,453
REVENUES:
Water Sales Residential $ 14,129,917 $ 17,101,623 $ 14,652,082 22,799,125 22,387,257 -2%
Water Sales Commercial 12,917,388 14,199,509 14,004,734 18,930,153 18,760,370 -1%
Water for Resale 2,791,388 1,578,679 1,381,760 2,104,625 2,663,857 27%
Other Water 1,377,085 5,990,220 1,059,569 7,985,895 1,487,061 -81%
Transfers In 1,524,956 2,679,868 2,169,489 3,572,683 3,572,683 0%
Investment Income 63,246 112,515 551,674 150,000 600,000 300%
Impact Fee Revenue 4,953,753 4,954,411 4,953,753 6,605,000 6,605,000 0%
Total Revenues 37,757,733 46,616,825 38,773,061 62,147,481 56,076,228 -10%
EXPENDITURES:
Personnel Service 5,719,828 7,518,906 6,445,894 10,023,865 8,800,000 -12%
Purchased Power 1,102,604 1,111,145 1,233,294 1,481,328 1,600,000 8%
Materials and Supplies 1,186,580 1,515,969 1,897,802 1,986,717 2,400,000 21%
Maintenance and Repairs 1,233,744 1,519,636 1,579,205 2,072,541 2,250,000 9%
Insurance 169,280 357,790 365,564 476,989 500,000 5%
Miscellaneous 147,534 340,983 182,551 455,036 225,000 -51%
Operations,Services 1,227,665 2,526,692 1,684,742 3,368,660 3,038,000 -10%
Capital Outlay 4,124,109 15,893,823 7,937,661 21,175,883 14,358,703 -32%
Return on Investment 991,434 1,150,794 1,048,608 1,534,187 1,534,187 0%
Franchise Fee 1,416,335 1,643,990 1,498,011 2,191,695 2,191,695 0%
Debt Service 10,445,573 9,692,887 9,692,887 10,239,818 10,239,818 0%
Transfers Out 4,324,169 6,035,536 6,473,436 8,046,304 8,046,304 0%
Total Expenditures 32,090,015 49,310,401 40,040,086 63,056,023 55,185,707 -12%
Net Income(Loss) $ 5,667,718 $ (2,693,576) $ (1,267,025) (908,542) 890,521
Ending Working Capital
and Reserves $ 23,796,679 $ 30,478,974
The Beginning Working Capital balance excludes$32.8 million of Impact Fee Reserves and$2.4 million in additional reserves related to future payments
to the Army Corps of Engineers for Lake Lewisville dam repairs.
2 Annual adopted budget as amended or modified.Beginning Fund Balance represents the amount which was estimated in the FY 2022-23
budget process.
City of Denton
Wastewater Fund
Schedule of Revenues and Expenditures-Budget vs Projections(Unaudited)
For the Period Ended June 30,2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET' PROJECTION PROJECTION
Beginning Working Capital
and Reserves as of 09/30/22' $ 24,812,689 $ 28,123,711
REVENUES:
Residential Fees $ 8,965,659 $ 10,215,986 $ 99745,482 12,882,706 129500,000 -3%
Commercial Fees 9,340,295 11,625,503 9,985,898 15,730,706 14,524,910 -8%
Effluent Irrigation Fees 77,651 86,322 749276 115,077 85,000 -26%
Wholesale Fees 497,789 444,901 594,599 593,123 750,000 26%
Other Wastewater Fees 1,479,888 19815,145 19600,113 2,419,863 1,700,000 -30%
Drainage Fees 49047,102 49437,917 39491,161 5,836,813 4,700,000 -19%
Cost Participation - 10,237,365 - 13,6489000 - -100%
Transfer In 458,734 459,936 460,085 613,166 613,166 0%
Investment Income 41,424 75,010 394,695 100,000 500,000 400%
Impact Fee Reserves 3,202,497 3,202,927 3,202,497 4,270,000 4,270,000 0%
Total Revenues 289111,039 42,601,012 29,548,806 56,2099454 39,643,076 -29%
EXPENDITURES:
Personnel Service 6,081,005 6,587,058 5,959,843 8,781,551 8,448,710 -4%
Purchased Power 789,878 915,872 847,259 1,221,000 1,200,000 -2%
Materials and Supplies 1,006,908 1,019,788 1,098,321 1,3509476 1,8009000 33%
Maintenance and Repairs 1,148,320 2,108,353 1,743,013 2,769,066 2,367,928 -14%
Insurance 190,751 335,300 342,585 447,005 456,780 2%
Miscellaneous 22,804 20,811 2,406 27,740 32,000 15%
Operations,Services 1,650,074 1,899,649 1,731,685 2,539,868 3,360,000 32%
Capital Outlay 1,238,156 22,291,813 13,864,386 29,761,759 15,254,445 -49%
Return on Investment 689,270 765,563 748,578 1,020,615 947,059 -7%
Franchise Fee 984,671 1,093,662 1,069,398 1,458,022 1,352,941 -7%
Debt Service 6,581,255 8,027,592 8,028,926 8,6289692 8,6289692 0%
Transfers Out 4,242,358 6,356,303 6,570,176 8,4739931 8,473,931 0%
Total Expenditures 24,625,450 51,421,764 42,006,576 66,479,725 52,322,486 -21%
Net Income(Loss) $ 3,485,589 $ (8,820,752) $ (12,457,770) (10,270,271) (12,679,410)
Ending Worldng Capital
and Reserves $ 14,542,418 $ 15,444,301
' The Beginning Working Capital balance excludes$20.4 million of Impact Fee Reserves and$1.0 million for Drainage Reserves.
'Annual adopted budget as amended or modified.Beginning Fund Balance represents the amount which was estimated
in the FY 2022-23 budget process.
City of Denton
Drainage Operations
Schedule of Revenues and Expenditures -Budget vs Projections (Unaudited)
For the Period Ended June 30, 2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET PROJECTION PROJECTION
REVENUES:
Residential Drainage Fees $ 1,555,780 $ 1,629,063 $ 1,604,181 $ 2,183,731 $ 2,179,859 0%
Nonresidential Drainage Fees 2,491,322 2,808,854 1,886,980 3,653,082 2,635,676 -28%
Wastewater Resources - 54,092 - 72,112 20,000 -72%
General Fund Transfer 275,363 283,662 283,624 378,166 378,166 0%
Total Revenues 4,322,465 4,775,671 3,774,785 6,287,091 5,213,701 -17%
Total Resources 4,322,465 4,775,671 3,774,785 6,287,091 5,213,701 -17
EXPENDITURES:
Personnel Service 1,320,759 1,683,820 1,365,085 2,244,792 2,048,710 -9%
Materials and Supplies 47,120 74,627 62,833 99,478 92,000 -8%
Maintenance and Repairs 109,444 222,816 169,389 297,047 280,000 -6%
Insurance 27,852 52,913 54,062 70,540 72,082 2%
Miscellaneous 6,880 13,764 981 18,350 2,100 -89%
Operations,Services 357,294 442,033 297,338 589,287 327,526 -44%
Capital Outlay 58,764 1,673,638 617,524 2,231,216 1,654,902 -26%
Transfer Out 419,710 552,364 417,485 736,381 736,381 0%
Total Expenditures 2,347,823 4,715,975 2,984,697 6,287,091 5,213,701 -17%
Net Income(Loss) $ 1,974,642 $ 59,696 $ 790,088 $ - $ -
City of Denton
Solid Waste Fund
Schedule of Revenues and Expenditures-Budget vs Projection(Unaudited)
For the Period Ended June 30,2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET PROJECTION
Beginning Working Capital
and Reserves as of 09/30/221 $ 10,265,395 $ 12,140,478
REVENUES:
Refuse Fees-Residential $ 3,564,308 $ 3,766,260 $ 3,697,378 5,055,018 4,900,000
Refuse Fees-Commercial 10,984,258 11,108,492 11,298,128 15,029,503 15,000,000
Residential Recycling 4,325,146 4,379,437 4,435,741 5,838,473 5,830,000
Commercial Recycling 1,019,154 1,102,836 1,076,791 1,470,252 1,400,000
Landfill Gate and Material Sales 9,781,972 8,051,130 8,365,586 10,926,374 10,738,142
Recycled Material Sales 50,508 54,272 47,140 72,354 62,000
Asset Sales and Interest Income 429,763 356,298 543,997 475,000 920,000
Other Revenue 278,063 358,206 351,563 487,515 464,000
Total Revenues 30,433,172 29,176,931 29,816,324 39,354,489 39,314,142
EXPENDITURES:
Personnel Service (8,296,138) (9,239,302) (8,633,194) (12,317,395) 12,000,000
Materials and Supplies (304,735) (512,897) (283,860) (728,467) 400,000
Maintenance and Repairs (149,075) (188,396) (157,075) (242,501) 200,000
Insurance (197,098) (516,634) (527,858) (688,750) 703,810
Miscellaneous (26,224) (49,748) (25,035) (66,320) 30,000
Operations,Services (4,405,034) (5,412,592) (5,024,514) (7,179,776) 7,000,000
Capital Outlay (1,933,247) (6,167,253) (7,726,853) (8,221,887) 8,035,000
Debt Service (5,537,839) (2,923,517) (3,712,628) (3,897,501) (3,897,501)
Franchise Fee (1,491,843) (1,253,116) (1,458,407) (1,670,597) 1,790,000
Transfers for Landfill Closure (537,890) (551,857) (552,222) (735,710) 737,000
Admin Transfers Out (4,346,262) (4,468,955) (3,634,323) (5,957,807) 5,963,840
Total Expenditures (27,225,385) (31,284,267) (31,735,969) (41,706,711) 32,962,149
Net Income(Loss) $ 57,658,557 $ 60,461,198 $ 61,552,293 81,061,200 6,351,993
Ending Working Capital
and Reserves $ 91,326,595 $ 18,492,471
1 The Beginning Working Capital Reserve excludes$12,684,710 Landfill Closure/Post Closure Reserves.
2 Annual adopted budget as amended or modified.Beginning Fund Balance represents the amount which was estimated in the FY 2022-23 budget process.
City of Denton
Airport Fund
Schedule of Revenues and Expenditures - Budget vs Projection (Unaudited)
For the Period Ended June 30, 2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET' PROJECTION PROJECTION
Beginning Working Capital
and Reserves as of 09/30/22' $ 2,380,921 $ 3,144,635
OPERATING REVENUES:
Airport Ground Leases $ 640,778 $ 632,874 $ 691,493 843,719 843,719 0%
FBO Commissions 171,490 176,274 266,364 235,000 310,000 32%
Miscellaneous 63,176 106,515 91,540 142,000 381,554 169%
Total Operating Revenues 875,444 915,663 1,049,398 1,220,719 1,535,273 26%
OPERATING EXPENDITURES:
Personnel Service 287,294 420,357 534,373 560,395 717,850 28%
Materials and Supplies 9,838 35,598 4,013 47,290 23,645 -50%
Maintenance and Repairs 33,101 51,308 16,871 68,400 55,150 -19%
Insurance 21,399 30,475 31,137 40,628 41,516 2%
Miscellaneous - 75 - 100 - -100%
Operations 117,042 213,485 83,643 284,767 235,000 -17%
Transfers Out-Operating 351,394 344,951 402,064 459,873 436,086 -5%
Total Operating Expenses 820,068 1,096,249 1,072,101 1,461,453 1,509,247 3%
Operating(Loss) 55,376 (180,586) (22,703) (240,734) 26,026
NON-OPERATING REVENUES:
Investment Income 15,493 7,126 162,320 9,500 196,375 1967%
Gas Well Royalties 410,898 236,461 244,594 315,239 400,000 27%
Recovery of Prior Year Expenses - - - - - -
Gain/Loss on Sale of Fixed Assets - - - - - -
Transfers In-Capital - - - - - -
Total Non-Operating Revenues 426,391 243,587 406,914 324,739 596,375 84%
NON-OPERATING EXPENDITURES:
Debt Service 682,124 552,643 696,461 736,758 737,293 0%
Total Non-Operating Expenses 682,124 552,643 696,461 736,758 737,293 0%
Non-Operating Income(Loss) (255,733) (309,056) (289,547) (412,019) (140,918)
Net Income(Loss) $ (200,357) $ (489,642) $ (312,251) (652,753) (114,892)
Ending Working Capital $ 1,728,168 $ 3,029,743
1 Annual adopted budget as amended or modified.Beginning Working Capital and Reserves represents the amount which was estimated in the FY 2022-23 budget process.
City of Denton
Street Improvement Fund
Schedule of Expenditures-Budget vs Actuals(Unaudited)
For the Period Ended June 30,2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET' PROJECTION ACTUALS
Beginning Fund Balance
as of 9/30/2023 $ 3,604,008 $ 4,503,637
RESOURCES:
Franchise Fees $ 11,233,068 $ 11,326,510 $ 11,506,551 15,100,000 15,100,000 0%
Investment Income 21,102 30,004 173,988 40,000 223,000 458%
Transfers In 1,035,656 979,633 988,646 1,306,000 1,315,146 1%
Total Resources 12,289,826 12,336,147 12,669,185 16,446,000 16,638,146 1%
EXPENDITURES:
Personnel Services 2,112,779 2,980,919 2,396,768 3,974,021 3,963,920 0%
Materials and Supplies 81,264 77,037 89,617 102,700 128,249 25%
Maintenance and Repairs 2,852,364 3,264,072 3,824,236 4,288,500 5,385,397 26%
Insurance 94,847 188,790 192,892 251,686 257,189 2%
Miscellaneous 615 3,451 230 4,600 500 -89%
Operations,Services 485,476 821,321 909,196 1,094,947 1,094,947 0%
Transfer Out 856,916 5,675,382 6,198,205 7,629,175 7,633,773 0%
Total Expenditures 6,484,261 13,010,972 13,611,144 17,345,629 18,463,975 6%
Net Income(Loss) $ 5,805,565 $ (674,825) $ (941,959) $ (899,629) $ (1,825,829)
Ending Fund Balance 2,704,379 2,677,808
'Annual adopted budget as amended or modified.
Beginning Fund Balance represents the amount which was estimated in the FY 2022-23 budget process.
City of Denton
Grants
Schedule of Expenditures (Unaudited)
For the Period Ended June 30, 2023
EXPENDITURES CURRENT ANNUAL
GRANT DESCRIPTION AS OF 9/30/2022 Y-T-D BUDGET
FY 2022-23 Budget
US Dept of HUD -
Community Development Block Grant(CDBG) $ 7,596,208 $ 809,483 $ 2,213,541
US Dept of HUD -
Community Development Block Grant(CDBG)-
CARES ACT 1,149,400 147,864 518,604
US Dept of HUD -
HOME Investment Partnership Program 6,106,583 317,231 1,152,349
US Dept of HUD -
HOME Investment Partnership Program ARP ACT - 2,500 1,763,622
Community Development) 14,852,191 1,277,078 5,648,116
National Sexual Assault Kit Initiative Grant 172,308 234,756 363,189
Edward Byrne Memorial Justice Assistance Grant 52,618 - 52,620
2021 UASI-Specialized Regional Response Teams
Sustainment 60,823 30,109 50,470
2021 UASI-Regional Warning Siren Cyber Security 42,975 - 43,693
2019 Staffing for Adequate Fire& Emergency
Response (SAFER) Grant 449,336 245,785 661,337
2020 Staffing for Adequate Fire & Emergency
Response (SAFER) Grant 188,854 245,732 889,826
2021 Staffing for Adequate Fire& Emergency
Response (SAFER) Grant - - 3,731,676
Urban Search & Rescue Response System (TEEX) - 289,363 150,000
Texas Intrastate Fire Mutual Aid System-Emergency
Response - - 50,000
Public Safety' 966,914 1,045,745 5,992,811
Airport Maintenance (RAMP) Grant - 9,368 50,000
TxDot-RTR-Mayhill Rd-I1135 E to US 380 53,325,009 422,620 11,835,375
IH35 East - 1,550,596 4,000,000
TxDot-RTR-Bonnie Brae Rd-I1135 E to US 377 31,223,854 114,815 18,593,648
TxDot-IH35E at Loop 288/Lillian Miller Pkwy - - 53,865
TxDot-RTR-McKinney (Formerly FM426) 16,685,450 107,499 1,666,138
TxDot-RTR-Hickory Creek FM2181-FM2499 2,047,547 - 352,453
Drive - 1,812,952 10,000,000
TxDot-RTR-North Texas Boulevard Roundabout 394,465 812,964 1,632,707
Sycamore-Welch Bike & Pedestrian 126,560 - 689,991
CMAQ-School Connection Sidewalks 75,520 - 329,246
Schools 108,400 - 707,940
Denton County Transportation Authority (DCTA)
Transportation Reinvestment Program (TRIP) - - 2,517,997
Airport Coronavirus Relief Grant Program - 34,162
American Rescue Plan (ARP) Act of 2021 -Airport
Rescue Grants - 148,000 148,000
Transportation' 103,986,805 4,978,814 52,611,522
City of Denton
Grants
Schedule of Expenditures (Unaudited)
For the Period Ended June 30, 2023
EXPENDITURES CURRENT ANNUAL
GRANT DESCRIPTION AS OF 9/30/20221 Y-T-D BUDGET
Interlibrary Loan Program (ILL) - - 35,000
Texas Reads Grant - 7,020 7,252
Green Ribbon Grant 571,281 30,524 313,110
NCTCOG-Solid Waste Implementation Grant-Parks
& Recreation 199,447 - 199,836
NCTCOG-Solid Waste Implementation Grant-Solid
Waste 13,223 47,500 60,723
Governor's Community Achievement Award - - 290,000
American Rescue Plan (ARP) Act of 2021 7,941,394 4,540,435 18,259,252
Miscellaneous New Grants - - 1,400,000
Other 8,725,345 4,625,479 20,565,173
Total FY 2022-23 Budget 128,531,255 11,927,116 84,817,622
New Awards
Federal Equitable Sharing - 46,000 46,000
Chapter 59 Asset Forfeitures - 39,416 39,416
U.S. Marshals Violent Offenders Task Force 64,492 64,492
North Texas Organized Crime Task Force (NTOCTF) 6,098 6,098
U.S. Immigration & Customs Enforcement Homeland
Security Investigations 357 357
FY2021 Improving Criminal Justice Responses 35,254 26,440 26,440
Texas Department of Public Safety's Texas Division of
Emergency Management(TDEM)-Winter Storm - 1,753 1,753
2022 SHSP-Hazmat Dry Decon Kit - 13,291 13,291
DWI Phlebotomy Program - 26,583 26,583
Police-Law Enforcement Officer Standards &
Education 4,716 4,716
Fire-Law Enforcement Officer Standards &
Education 25 25
Public Safety 35,254 229,171 229,171
TxDot-Bonnie Brae-Windsor Drive to US 77 - 396,631 396,631
Transportation - 396,631 396,631
Rural Texas Women at Work - 600 600
Eco-poetry: A Community-Based Discussion Series - 1,500 1,500
Other - 2,100 2,100
Total New Awards 35,254 627,902 627,902
TOTALS $ 128,566,509 $ 12,555,018 $ 85,445,524
City of Denton
Grants
Schedule of Expenditures (Unaudited)
For the Period Ended June 30, 2023
EXPENDITURES CURRENT ANNUAL
GRANT DESCRIPTION AS OF 9/30/2022 Y-T-D BUDGET
A portion of the grants presented cover multiple years.
Section 3
City of Denton
Quarterly Financial Report
June 2023
REVENUE & ECONOMIC
ANALYSIS
Texas Leading Indicators Index I Outlook
Description: The Texas Leading Indicators Index is a single weighted summary statistic that sheds light on the future
of the state's economy. The index is designed to signal movements and changes in the state's rate of growth. The
index includes the following leading indicators: Texas Value of the Dollar, U.S. Leading Index, Real Oil Prices, Well
Permits, Initial Claims for Unemployment Insurance, Texas Stock Index, Help-Wanted Advertising, and Average
Weekly Hours Worked in Manufacturing.
Analysis: Texas Leading Indicators provide a framework for the overall condition of the local economy. Data for this
quarter shows a decrease in the state's rate of growth. The index decreased by 1.03% from the prior quarter and
decreased by 6.62%from the 3rd Quarter of 2022. Staff has rated this indicator as negative.
Texas Leading Indicators Index
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
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tip. ,tip. 1p, 0- tip. ,tip. 3d NO-
Source: Federal Reserve Bank of Dallas
i HilltopSecuri ties
Asset Management.
National Economic Trends
Period Ending June 30, 2023
Gross Domestic Product(GDP)
The initial reading of second quarter GDP came
Gross Domestic Product(Quarter-over-Quarter Pnnual¢ed Percent Charge) in at a +2.4% quarter-over-quarter annualized
8%
r•consumpton rate, topping the +1.8% median forecast.
=Business Fixed investment Personal consumption rose +1.6 during the
r•Residential investment 6% quarter, indicating that consumer spending had
Inventories slowed, but remains quite positive. The biggest
■Net Exports
surprise was a +7.7% rise in business investment
Government Spending 4%
as U.S. companies gained confidence and
invested heavily in structures and equipment.
- 2% Business inventories, which plunged in the
previous quarter and were expected to rebound
o%
significantly, edged up by just+0.1%. Residential
investment (housing) was expected to rise
slightly, but actually fell -4.2%. The ongoing
Q47Au -2% resilience of the American economy may be
Q3— frustrating Fed officials, who are hoping to slow
Fpz2 consumer demand and by extension reduce the
Q37Z number of available jobs, but investors are now
Source:Bureau of Economic Analysis sensing that a soft-landing may be possible.
Employment: Non-farm Payrolls
Non-Farm Payrolls Total Change(in thousands) U.S. businesses added +209k jobs to company
payrolls in June,slightly below the+230k median
1,000 forecast.This followed revised gains of+306k and
9oa 900 +217k in the previous two months and brought
aoo
the average for the quarter down from +344k in
Q1 to +267k. Private payrolls added just +196k
700 jobs in June, the fewest since late 2020. The
568 600 unemployment rate declined from 3.7%to 3.6%,
while the total number of unemployed workers
414 500 actively seeking work decreased from 6.1 million
364 370 3s2 3so 32a 400 to 6.0 million. Another 5.4 million Americans
254
290 306 would like a job but had not looked for work
239 248 300 217 211 209 within past 30 days. There is still a significant
200 mismatch between the 9.8 million job postings
100 from the most recent JOLTS report and the six
million Americans seeking work. This mismatch
ti ti ti ti ti ti ti ti ti ti ti , 0 has kept pressure on wages as hourly earnings
ti ti ti ti y ti ;>, ;1- ti ;v ti ;� ti ti ti ti ti
lac eg �a �Q` �a� ��� rose +0.4% in June driving the annual rate up
from +4.2%to +4.4%. Until wage growth slows,
Source:Bureau of Labor Statistics
inflation will linger.
1
i HilltopSecuri ties
Asset Management.
Inflation
The overall consumer price index (CPI) rose just
Consumer Pricelndex(Yearover-YearPercentChange) +0.2% in June, below the median forecast
o% despite a substantial rise in gas prices. Service
=Services
inflation contributed more than 60% to the
=nods=Food 8% overall index; within the services component,
shelter costs accounted for over 70%.On a year-
=Energy °
over-year basis, overall CPI was up just+3.0/in
—CPI-Au items 6% June, down from +4.0% in May and a peak of
—CPI-core +9.1%a year ago. As dramatic as the 12-month
_ 4% decline has been, annual prices are expected to
decrease at a much slower pace in the coming
months. Energy prices rose +0.6% in June, with
z% pump prices up+1.0%after falling-5.6%in May.
IIIIIIIIIIIIIII ' Over the past 12 months, gas prices are -26.5%
iilll� o% lower. Core CPI rose by just +0.2% in May,
II comfortably below the +0.3% median forecast
and the smallest single month increase in core
z% inflation since August 2021. The ear-over- ear
Cb m 1 do do y titi titi g Y Y
o� 4 o� 4 o� �� o� �� o� �� o� 41� core rate was better-than-expected at +4.8%,
the first time since November 2021 the annual
Source:Bureau of LaborSta6stics pace was below+5.0%.
Retail Sales
Retail Sales(Year-over-Year Percent Change) U.S. retail sales rose less than expected in June,
although the still brisk spending pace remains
=Retail Sales(Y-O-Y) —Control Group(Y-O-Y) inconsistent with recession. Eight of 13
20% categories increased in June, matching the
18% previous month. Headline sales rose +0.2%,
16% down from a revised +0.5% increase in May and
well below median forecast. Online sales rose by
14% a surprising +1.9%, while brick and mortar store
12% sales fell by-2.4%. Sales at restaurants and bars
rose by just +0.1% after climbing +1.2% in May.
10% These categories may reflect Americans choosing
8% to stay home during the hottest June on record.
6% However, "control group" sales, which exclude
auto dealers, gas stations, building materials
4°% stores and food service establishments rose a
2% surprising +0.6%, triple the median forecast.
Since the control group number is used in the
ti ti ti ti � �
quarterly GDP calculation, the second quarter
lJv ��� Q�v �av lJv ��e Q�v �av lJv ended on a slightly higher note. On a year-over-
year basis, the slowdown in spending is more
Source:US Census Bureau apparent with a modest+1.7%increase.
2
Texas and Denton County Home Sales
Texas/Denton Cty Home Sales (NSA)
45.0 2200
42.5
40.0
37.5 1700
35.0
1
m
x
32.5 - m
1200 p
30.0
27.5
N
25.0 i
700 0
N
22.5 0
d
N
20.0
17.5 -TX Home Sales
200
-Denton Cty Home Sales
15.0 -Linear(TX Hone Sales)
12.5
-Linear(Denton Cty Home Sales)
10.0 i -300
m 0 K C003 m 0 K m 0 K
(D m M M m q
N N N N N) N N N N N N
co (D O O O O N N N N W W
Source Real Estate Center at Texas A&M-MLS Housing Actr,*
Home sales bounced in the spring months, but generally remained below the sales pace from a year ago. Slightly
lower home prices on a year-over-year basis reflect cooling demand and increased inventories.
Texas home sales rose +33.5% in the second quarter of 2023 but fell -10.8%over the same three-month period a
year ago.The average sales price in June was$434k, sharply lower than $437.8k a year ago. The available home
inventory crept up from 2.7 to 3.2 months during the quarter, well above the record low of 1.0 month inventory
from February 2022.Total Texas home listings at quarter end were 91.2k, up from 78.7k since March.
In Denton County, unit home sales rose +28.9% in the second quarter but were -2.7% lower on a year-over-year
basis. The available supply increased from 1.8 months in March to 2.4 months at the end of June, still well above
the record low of 0.5 months in January-February 2022. Total listings in Denton County climbed from 2.2k to a seven
month high of 2.9k during the quarter.The average sales price in June was$564.4k, up from$525.9k in March, but
below the$572.2 average from a year ago.
The paper was prepared by Hilltop Securities Asset Management,is intended for educational and informational purposes only
and does not constitute legal or investment advice,nor is it an offer or a solicitation of an offer to buy or sell any investment or
other specific product. Information provided in this paper was obtained from sources that are believed to be reliable; however,it
is not guaranteed to be correct,complete,or current,and is not intended to imply or establish standards of care applicable to
any attorney or advisor in any particular
3
Fuel Prices I Outlook
Description: Quarterly fuel trends for the United States and Texas.
Analysis: Fuel prices are a major commodity source in the economy. Studies have shown a positive effect on
disposable income levels when fuel prices decrease. It is estimated that for every penny decrease in the price of
fuel, $1.3 billion is available to the consumer for disposable income. Therefore,the price of fuel is likely to be a key
predictor of sales tax collections. Fuel prices showed a 5.5% increase from the prior quarter at the national level
and a 5.7%increase at the state level. Staff has rated this outlook as negative.
Fuel Prices
-
JSalesTax -Texas Fuel Prices -US Fuel Prices
$5.00 $16
$4.50
$14
$4.00
$12
$3.50
$3.00 $10
c
c $2.50 $8 0
C
$2.00
$6
$1.50
$4
$1.00
$0.50 $2
$0.00 $0
3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
'18 '18 '19 '19 '19 '19 '20 '20 '20 '20 '21 '21 '21 '21 '22 '22 '22 '22 '23 '23 '23
Source: U.S. Department of Energy
Municipal Cost Index I Outlook
Description: The Municipal Cost Index was developed to show the rate of inflation for the cost of goods purchased
frequently by local governments. The MCI draws on the monthly statistical data collected by the U.S. Departments
of Commerce and Labor as well as independently compiled data to project a composite cost picture for the
municipal budget officer or operating department manager. Costs of labor, materials and contract services are all
factored into the composite MCI. Major indicators of these items used for the MCI include the Consumer Price
Index, the Wholesale Price Index for Industrial Commodities (now known as the Producer Price Index) and the
construction cost indexes published by the U.S. Department of Commerce, respectively.
Analysis: The Municipal Cost Index (MCI) pulls a variety of prices for frequently purchased commodities for local
governments. The cost for labor, materials and contract services are factored for the MCI. An increase in MCI
means the overall price mix for these types of commodities will cost local governments more to do routine
business. The 3rd Quarter of 2022-23 shows a increase of 0.8 for a 0.26% increase over the prior quarter and an
increase of 2.0 for a 0.67%increase over the 3rd Quarter of 2021-22. Staff has rated this indicator as negative.
Municipal Cost Index
350.00
300.00
250.00
200.00
150.00
100.00
50.00
0.00
3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 1Q'22 2Q'22 3Q'22 4Q'22 1Q'23 2Q'23 3Q123
Source:American City and County Magazine
Note:The Municipal Cost Index is designed to show the effects of inflation on the cost of providing municipal services. State
and local government officials rely on American City & County's Municipal Cost Index to stay on top of price trends, help
control price increases for commodities, make informed government contract decisions and intelligent budget planning.Since
1978,readers have loyally referred to the Municipal Cost Index to determine the cost of inflation and,hence,the rising cost of
doing business as a local government.
Hotel Occupancy Tax Analysis I Outlook I Positive
Description: Tax imposed on a person who, under a lease, concession, permit, right of access, license, contract, or
agreement, pays for the use of a room that is in a hotel. A hotel includes: any building in which the public may
obtain sleeping accommodations; motels; a tourist home, house or court; lodging house; inn; rooming house; or bed
and breakfast. The tax rate levied by the City is 7% of the price paid for a room. The State also levies a tax equal to
6%.
Analysis: While the use of this revenue source is restricted by state law, it is an essential revenue source for various
tourist related activities within the community and an important indicator of local economic activity. Hotel
Occupancy Tax revenue through the 3rd Quarter of FY 2023 was 9.77% more than budget and 10% more than the
prior year's actual. Hotel receipts continue to increase to higher than pre COIVD-19 pandemic levels. Staff has rated
the outlook for this economic indicator as Positive.
3rd Quarter FY 2022-23
Actual Y-T-D
Occupancy Tax Revenue: $ 1,077,117 $ 2,932,060
FY 2022-23 Budget $ 931,586 $ 2,565,486
Over(Under)Budget $ 145,532 $ 366,574
FISCAL YEAR FORECAST
Hotel Occupancy Tax Budget: $ 3,470,152
End of Year Projection: $ 3,875,000
Variance: $ 404,848
Hotel Occupancy Tax Collections
$1,000,000
$800,000
$600,000
$400,000
$200,000
$0
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
■FY 2019-20 FY 2020-21 FY 2021-22 ■FY 2022-23
Sales and Use Tax Analysis I Outlook
Description: Tax imposed on all retail sales,leases,and rentals of most goods,as well as taxable services. The total tax rate levied within
the City is 8.25%(State,6.25%;City,1.5%;DCTA,0.5%).
Analysis: As the second largest revenue source to the City's General Fund,sales and use taxes are essential to the delivery of services to
the community. Sales tax revenues through the 3rd quarter of FY 2023 compared to revenues from the prior year 3rd quarter shows a
11.17%increase;and compared to the budget,it is 1.23%above. Staff has rated this indicator as Positive.
Quarter
nue:Gross Sales Tax
Municipal Operations $ 468,186 $ 1,393,827
General Retail&Others 14,548,686 41,848,399
Comptroller Fees (285,565) (821,142)
Amount Retained (279,855) (804,722)
Total Revenue $ 14,451,452 $41,616,362
Expenses:Economic Incentives*
Economic Incentives' $ 867,615 $ 2,477,050
Net Total 13,583,837 39,139,312
FY 2022-23 Budget 13,418,922 38,978,808
Over(Under)Budget $ 164,915 $ 160,504
Sales Tax Budget: $ 54,722,022
Year End Projection: 55,025,949
Variance to Original Budget: $ 303,927
Economic Development Expenditure Budget: $ 3,607,336
Year End Projection: 3,446,834
Variance to Original Budget: $ (160,502)
Gross Sales Tax Collections (Millions)
$12,000,000.0
$10,000,000.0
$8,000,000.0
$6,000,000.0
$4,000,000.0
$2,000,000.0
$0.0
1 2 3 4
■FY 2018-19 Actual o FY 2019-20 Actual ■FY 2020-21 Actual O FY 2021-22 Actual o FY 2022-23 Actual
*Economic Incentive actuals are June 2023
1.Includes Unicorn Lake,Rayzor Ranch,Golden Triangle Mall,O'Reilly Hospitality,and Buc-ee's.
Certificates of Occupancy Outlook
Description: Certificates of Occupancy (CO) are permits issued in compliance with the 2012 International Building
Code (IBC) and applicable City ordinances. The IBC states, "that no building shall be used or occupied, and no
change in the existing occupancy classification of a building or structure or portion thereof shall be made, until the
building official has issued a certificate of occupancy." Certificates of Occupancy ensure that applicable building,
zoning,fire and consumer health codes are met.
Analysis: Certificates of Occupancy are an economic indicator that provides a framework for the overall condition
of the local economy. Certificates of Occupancy decreased 30.68% from the prior quarter and decreased 27.38%
from the second quarter of 2023. Staff has rated the outlook for this revenue indicator as negative
Certificates of Occupancy
160.0
140.0
120.0
100.0
80.0
60.0
40.0
20.0
0.0
2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
'18 '18 '18 '19 '19 '19 '19 '20 '20 '20 '20 '21 '21 '21 '21 '22 '22 '22 '22 '23 123 123
Source:City of Denton's Development Services Department.
Residential Permits Outlook
Description: Residential Permits are issued in compliance with the 2009 International Residential Code (IRC) and
applicable City ordinances. The data presented in this analysis only include new permits issued and not
remodels/alterations.
Analysis: Residential Permits are an economic indicator that provides a framework for the overall condition of the
local economy. In particular, residential permits have a direct correlation with building inspection fees and
appraised values. Residential permits increased from the prior quarter by 9.68% and decreased 14.47% from the
3rd Quarter of 2022. Staff has rated the outlook for this revenue indicator as positive.
Residential Permits
450.0
400.0
350.0
300.0
250.0
200.0
150.0
100.0
50.0
0.0
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q
'18 '18 '18 '18 '19 '19 '19 '19 '20 '20 '20 '20 '21 '21 '21 '21 '22 '22 '22 '22 '23 '23 '23
Source:City of Denton's Development Services Department.
Section 4
City of Denton
Quarterly Financial Report
June 2023
INVESTMENT REPORT
DocuSign Envelope ID: lD4AEF3F-E08E-4EF6-8BAA-17D40BB2E5C9
CITY OF DENTON:QUARTERLY INVESTMENT REPORT
OF
'1'
INVESTMENT POOL
Policy
Par Market Book Unrealized Max. Benchmark:
(Portfolio: _Value Value _Value Gain/(Loss)' _WAM WAM _YTM _Yield*
:Investment Pool Begin Q3 $ 752,814,763 $ 745,013,927 $ 748,342,600
-
--------------------------------------------
:Investment Pool End Q3 $ 691,739,195 $ 682,584,102 $ 686,979,834 $ (4,395,733) 180 550 4.15%
*Market yield on U.S.Treasury securities at
1 year constant maturity,quoted on
:investment basis %of Total
Par Market Book Unrealized Portfolio Policy
:Securities By Investment Type: Value Value Value Gain/(Loss)' WAM YTM (Book Value)' Max_ I
-------- ---------------
:U.S.Treasuries-Coupon $ 235,000,000 $ 230,702,757 $ 233,351,769 $ (2,649,012) 238 3.56% 33.97% 100%
:U.S.Treasuries-Bills $ 35,000,000 $ 34,285,866 $ 34,281,109 $ 4,757 143 5.45% 4.99% 100%
:U.S.Federal Agencies-Coupon 199,575,000 197,795,481 199,401,492 (1,606,011) 236 3.76% 29.03% 100%
:U.S.Federal Agencies-Callable 10,000,000 9,408,658 9,461,696 (53,039) 541 5.03% 1.38% 20%
:Commercial Paper 82,500,000 80,727,145 80,819,574 (92,429) 137 5.50% 11.76% 20%
:Local Government Investment Pools 110,000,000 110,000,000 110,000,000 1 5.09% 16.01% 50%
;Demand Deposits 19,664,195 19,664,195 19,664,195 1 1.65% 2.86%
:Total Portfolio I$ 691,739,195 $ 682,584,102 $ 686,979,834 $ (4,395,733) 180 4.15% 100.00
Unrealized gain/(loss)is the difference between the market and book value and does not represent an actual gain or loss. Gains:
and losses are realized only when a security is sold prior to maturity. Since it is the City's practice to hold investments until they:
:mature,the temporary gains and losses are unlikely to be realized.
Current 3 Months Ago 3 Month 1 Year Ago 1 Year Ago
:Investment Pool Comparisons: 6/30/2023 3/31/2023 Difference 6/30/2022 Difference
------------ -----------------
:Par Value $ 691,739,195 $ 752,814,763 $ (61,075,568) $ 656,943,844 $ 34,795,350
:Market Value 682,584,102 745,013,927 (62,429,825) 653,540,415 29,043,686
Book Value 686,979,834 748,342,600 (61,362,765) 655,280,824 31,699,011
:Umeahzed Gain(Loss) (4,395,733) (3,328,673) (1,067,060) (1,740,408) (2,655,324)
:Weighted Average Maturity 180 204 (24) 201 (21)
:Yield to Maturity 4.15% 3.88% 0.27% 1.20% 2.95%
Portfolio Composition:
:U.S.Treasuries-Coupon 33.97% 35.09% -1.12% 50.97% -17.00%
:U.S.Treasuries-Bills 4.99% 0.00% 4.99% 0.00% 4.99%
:U.S.Federal Agencies-Amortizing 0.00% 1.33% -1.33% 0.00% 0.00%
:U.S.Federal Agencies-Coupon 29.03% 26.27% 2.76% 14.01% 15.02%
:U.S.Federal Agencies-Callable 1.38% 1.34% 0.04% 1.53% -0.15%
Commercial Paper 11.76% 13.46% -1.70% 3.79% 7.97%
:Local Government Investment Pools 16.01% 18.71% -2.70% 21.03% -5.02%
;Demand Deposits 2.86% 3.80% -0.94% 8.68% -5.82%
:Bank Collateral Review**: I Institution Collateral Type Market Value Collected Balance Pledge Required Collateral Ratio
-----------------------------------------------
Wells Fargo Demand Deposits BNY Mellon U.S.Agency MBS $ 49,995,483 $ 19,664,195 >102% 254%
:Depository Ledger Balance Review: I Institution Account Type- Beginning Bal. Deposits Withdrawals Ending Bal.
Wells Fargo Bank Checking $ 23,795,645 $ 123,508,414 $ (141,604,552) $ 5,699,507
Wells Fargo Bank ARPA Funds $ 13,952,108 $ 12,579 $ - $ 13,964,687
------------------------------------------------------------------------------------------------------
:Compliance Statement&Review: :The Quarterly Investment Report is in full compliance with the objectives,restrictions,and strategies as set forth m the City of
:Denton's Investment Policy and the Public Funds Investment Act(Texas Government Code,Chapter 2256.023).
---------------------------------------------------------------------------------------------------------------------------------------------------
DocuSigned b ne
y: DoeuSigd by:
[ s a � u [Vis
L/I I'ZX194LA41 9- I U41UL49969e4A2...
Approver. Cassey Ogden Reviewer: Vis Bouaphanthavong
Assistant City Manager Assistant Director of Finance
DocuSgned by:
Vacant C3o1 LAl/L1UCtll4L1...
Reviewer: Preparer:Randee Klingele
Controller Treasury Manager
DocuSign Envelope ID: lD4AEF3F-E08E-4EF6-8BAA-17D40BB2E5C9
CITY OF • QUARTERLY INVESTMENT REPORT
INVESTMENT POOL
Current 3 Months Ago 3 Month 1 Year Ago 1 Year
6/30/2023 3/31/2023 Difference 6/30/2022 Difference
------------------------------------------- ----------------------------------------------------------------
War Value-U.S.Treasuries-Coupon i 235,000,000 $ 265,000,000 $ (30,000,000) $ 335,000,000 $ (100,000,000)
.Par Value-U.S.Treasuries-Bills i 35,000,000 - - $ 35,000,000
.Par Value-U.S.Federal Agencies-Amortizing - 10,000,000 (10,000,000) - -
War Value-U.S.Federal Agencies-Coupon 199,575,000 196,875,000 2,700,000 92,300,000 107,275,000
;Par Value-U.S.Federal Agencies-Callable 10,000,000 10,000,000 - 10,000,000 -
War Value-Commercial Paper 82,500,000 102,500,000 (20,000,000) 25,000,000 57,500,000
;Local Government Investment Pools 110,000,000 140,000,000 (30,000,000) 137,775,270 (27,775,270)
;Demand Deposits 19,664,195 28,439,763 (8,775,568) 56,868,575 (37,204,380)
;Total Par Value $ 691,739,195 $ 752,814,763 $ (969075,568) $ 65699439844 $ 34,795,350
Market Value-U.S.Treasuries-Coupon $ 230,702,757 $ 260,480,645 $ (29,777,888) $ 332,422,735 $ (101,719,978)
Market Value-U.S.Treasuries-Bills 34,285,866 - $ 34,285,866 $ - $ 34,285,866
Market Value-U.S.Federal Agencies-Amortizing - 9,982,485 (9,982,485) - -
;Market Value-U.S.Federal Agencies-Coupon 197,795,481 195,419,363 2,376,119 91,779,177 106,016,304
;Market Value-U.S.Federal Agencies-Callable 9,408,658 9,974,012 (565,354) 9,964,326 (555,669)
;Market Value-Commercial Paper i 80,727,145 100,717,660 (19,990,515) 24,730,333 55,996,813
;Local Government Investment Pools 110,000,000 140,000,000 (30,000,000) 137,775,270 (27,775,270)
;Demand Deposits 19,664,195 28,439,763 (8,775,568) 56,868,575 (37,204,380)
;Total Market Value $ 682,584,102 $ 745,0139927 $ (629429,825) $ 653,5409415 $ 29,043,687
Book Value-U.S.Treasuries-Coupon i $ 233,351,769 $ 262,580,272 $ (29,228,503) $ 333,987,990 $ (100,636,221)
Book Value-U.S.Treasuries-Bills 34,281,109 - 34,281,109 - $ 34,281,109
;Book Value-U.S.Federal Agencies-Amortizing - 9,980,222 (9,980,222) - -
!Book Value-U.S.Federal Agencies-Coupon; 199,401,492 196,579,804 2,821,688 91,819,835 107,581,656
;Book Value-U.S.Federal Agencies-Callable; 9,461,696 10,000,000 (538,304) 10,000,000 (538,304)
;Book Value-Commercial Paper 80,819,574 100,762,538 (19,942,965) 24,829,153 55,990,420
;Local Government Investment Pools 110,000,000 140,000,000 (30,000,000) 137,775,270 (27,775,270)
;Demand Deposits 19,664,195 28,439,763 (8,775,568) 56,868,575 (37,204,380)
Total Book Value $ 686,979,834 $ 748,342,600 $ (61,362,765) $ 655,280,824 $ 31,699,011
Accrued Interest $ 4,043,169 $ 2,934,445 $ 1,108,724 $ 1,083,307 $ 2,959,862
;Cash Value- $ 686,627,271 $ 747,948,372 $ (61,321,102) $ 654,623,722 $ 32,003,548
(Total Market Value+Accrued Interest)
;Unrealized Gain/(Loss)' $ (4,395,733) $ (3,328,673) $ (1,067,060) $ (1,740,408) $ (2,655,324)
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
!Strategy Statement: !The investment portfolio is an aggregation of the majority of City funds which may include tax receipts,enterprise fund revenues,fiq
and fee income,as well as some,but not necessarily all bond proceeds,grants,gifts and endowments.This portfolio is maintained to;
meet anticipated daily cash needs for the City's operations,capital projects and debt service.In order to meet these obligations and to!
minimize potential liquidation losses,the dollar-weighted stated average maturity of the investmentpool shall not exceed 1.5 years or;
550 days.The objectives of this portfolio are to:(1)ensure safety of principal by investing in only high quality securities for which a;
strong secondary market exists;(2)ensure that anticipated cash flow needs are matched with adequate investment liquidity;(3)limit;
(market and credit risk through diversification;and(4)attain the best feasible yield,commensurate with the objectives and restrictions!
set forth in the Investment Policy.
I ----------------------------------------------------------------------------------------------------------------------------------------------------------�
'Unrealized gain/(loss)is the difference between the market and book value and does not represent an actual gain or loss.Gains and;
losses are realized only when a security is sold prior to maturity.Since it is the City's practice to hold investments until they mature,;
I the temporary pains and losses are unlikely to be realized_
-------------------------------------------------------------------------------------
DocuSign Envelope ID: 1D4AEF3F-E08E-4EF6-8BAA-17D40BB2E5C9
CITY OF DENTON:QUARTERLY INVESTMENT REPORT
_3rd Fiscal Quarter Ending June 30,M23 Page 3
INVESTMENT POOL
(Based on Book Value)
Current 3 Months Ago I Year Ago
:Summary By Security Type: 6/302023 3/31/2023 6/30/2022
-------------------------------------
:U.S.Treasuries-Coupon $ 233,351,769 $ 262,580,272 $ 333,987,990
:U.S.Treasuries-Bills 34,281,109 - -
U.S.Federal Agencies-Amortizing - 9,980,222 -
:U.S.Federal Agencies-Coupon 199,401,492 196,579,804 91,819,835
:U.S.Federal Agencies-Callable 9,461,696 10,000,000 10,000,000
:Commercial Paper 80,819,574 100,762,538 24,829,153
:Local Government Investment Pools 110,000,000 140,000,000 137,775,270
Memand Deposits 19,664,195 28,439,763 56,868,575
:Total Book Value $ 686,979,834 $ 748,342,600 $ 655,280,824
Current
06/30/2023
U.S.Treasuries-Coupon
33.97% U.S.Treasury-Bills
4.99%
Demand Deposits
2.86%
U.S.Federal Agencies-Coupon
29.03%
Local Government Investment Pools
16.01%
U.S.Federal Agencies-Callable
1.38%
----Commercial Paper
11.76%
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
:Objective: :The portfolio is restricted to U.S.Treasuries and agency securities(maturing in less than five years);municipal bonds rated AA or better(maturing in:
:less than three years); insured, collateralized, or standby letter of credit backed certificates of deposit (maturing in less than three years);:
collateralized repurchase agreements(maturing in less than thirty days);commercial paper rated A-1/P-I or better(maturing in less than 270 days);
:and local government pools&SEC registered government money market mutual funds(weighted average maturity of less than 60 days).
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Current 3 Months Ago I Year Ago
:Summary By Security Type: 6/302023 3/31/2023 6/30/2022
-------------------------------------
:U.S.Treasuries-Coupon 33.97% 35.09% 50.97%
:U.S.Treasuries-Bills 4.99% 0.00% 0.00%
U.S.Federal Agencies-Amortizing 0.00% 1.33% 0.00%
:U.S.Federal Agencies-Coupon 29.03% 26.27% 14.01%
:U.S.Federal Agencies-Callable 1.38% 1.34% 1.53%
:Commercial Paper 11.76% 13.46% 3.79%
:Local Government Investment Pools 16.01% 18.71% 21.03%
;Demand Deposits 2.86% 3.80% 8.68%
:Total 100.00% 100.00% 100.00%
-------------------------------------------------L-------------------------------------------------------------------------------------------------------------------------------------------------------------------------
DocuSign Envelope ID: 1D4AEF3F-E08E-4EF6-8BAA-17D40BB2E5C9
CITY OF • QUARTERLY TNVESTMENT REPORT
3rd Fiscal Quarter Ending June J 2023
INVESTMENT POOL
(Based on Book Value)
Current 3 Months Ago 1 Year Ago
:Summary By Issuer: 6/30/2023 3/31/2023 6/30/2022
::U.S.TREASURY 267,632,878 262,580,272 333,987,990
IFFCB 64,478,153 71,729,976 37,056,477
IFHLB 139,387,630 139,858,584 59,869,713
(FNMA 4,997,406 4,971,466 4,893,645
::JP MORGAN CP 29,018,743 24,766,583 -
IRBC CP 17,440,542 27,147,080 17,425,697
::TOYOTA MOTOR CREDIT CORP CPI 34,360,289 29,059,292 7,403,456
ICOLUMBIA UNIVERSITY CP - 19,789,583 -
ITEXPOOL 70,000,000 130,000,000 100,000,000
ITEXSTAR 40,000,000 10,000,000 37,775,270
::WELLS FARGO DEMAND DEPOSITS:: 19,664,195 28,439,763 56,868,575
!Total Book Value $ 686,979,834 $ 748,342,600 $ 655,280,823
Current
06/30/2023
FHLB
20%
FNMA
1%
FFCB JP MORGAN CP
9% 4%
RBC CP
3%
TOYOTA CP
5%
TEXPOOL
10%
U.S.TREASURY
39%
TEXSTAR
6%
WELLS FARGO DEMAND DEPOSITS
3%
;Objective: ;Investment Type Limits:1.US Government 100%;2.US Government Agency 100%(maximum of 20%in Callable agencies);3.Municipal obligations 15%;4.LGIPs-
;Gov't 50%;5.LGIPs-Prime 15%;6.Repo 20%;7.CD's 35%;8.Savings Deposits 15%;9.US Gov't Money Market Mutual Funds 50%;Commercial Paper 20%(max
5%per issuer)."The purpose of this requirement is to limit market and credit risk.Some investment types may be further limited.
Current 3 Months Ago 1 Year Ago
:U.S.TREASURY 38.96"/0 35.09% 50.97"/0
IFFCB 9.39% 9.59% 5.66%
jFHLB 20.29% 18.69% 9.14%
(FNMA 0.73% 0.66% 0.75%
::JP MORGAN CP 4.22% 3.31% 0.00%
jRBC CP 2.54% 3.63% 2.66%
:TOYOTA MOTOR CREDIT CORP CP I 5.00% 3.88% 1.13%
:COLUMBIA UNIVERSITY CP 0.00% 2.64% 0.00%
:TEXPOOL 10.19% 17.37% 15.26%
ITEXSTAR 5.82% 1.34% 5.76%
:WELLS FARGO DEMAND DEPOSITS: 2.86% 3.80% 8.68%
::Total 100% 100% 100%
DocuSign Envelope ID: lD4AEF3F-E08E-4EF6-8BAA-17D40BB2E5C9
CITY OF • QUARTERLY INVESTMENT REPORT
3rd Fiscal Quarter Ending June 30,2023 Page 5
INVESTMENT POOL
(Based on Par Value)
Current 3 Months Ago 1 Year Ago
:Maturity Time Frame: 6/30/2023 3/31/2023 6/3012022
-------------------------------------------------------------------------------------------------------------
:00-03 Months $ 257,164,195 $275,739,763 $294,643,844
:03-06 Months 120,000,000 127,500,000 60,000,000
:06-12 Months 220,000,000 205,000,000 147,300,000
:12-24 Months 94,575,000 144,575,000 155,000,000
:24 Months&Over - - -
:Total Par Value $ 691,739,195 $752,814,763 $656,943,844
$800,000,000
$750,000,000
$700,000,000
$650,000,000
$600,000,000
$550,000,000
$500,000,000
$450,000,000
$400,000,000
$350,000,000
$300,000,000
$250,000,000
$200,000,000
$150,000,000 All
$100,000,000
$50,000,000
$0
Current 3 Months Ago 1 Year Ago
■00-06 Months ■06-12 Months ■12-24 Months ■24 Months&Over
II._______________________________________________________________________________________________________________________________________________________�
:Objective: :The risk of market price volatility is minimized through maturity diversification.Investment maturities are staggered to
:provide cash flows based on the anticipated needs of the City.Liquidity is achieved by matching investment maturities
with forecasted cash disbursements and by investing in securities with active secondary markets.Short-term local
:government investment pools and government money market mutual funds help to provide daily liquidity and may be
j utilized as a competitive alternative to other fixed income investments.
-----------------------------------------------------------------------------------------------------
Current 3 Months Ago 1 Year Ago
:Maturity Time Frame: I 6/30/2023- 3/31I2023 2022
------------------------------ _---------------------------- 6/30-
_____
:00-03 Months 37.18% 36.63% 44.85%
:03-06 Months 17.35% 16.94% 9.13%
:06-12 Months 31.80% 27.23% 22.42%
:12-24 Months 13.67% 19.20% 23.59%
:24 Months&Over 0.00% 0.00% 0.00%
:Total 100.00% 100.00% 100.00%
DocuSign Envelope ID: 1D4AEF3F-E08E-4EF6-8BAA-17D40BB2E5C9
CITY OF DENTON : QUARTERLY INVESTMENT REPORT
13rd Fiscal Quarter Ending June 30,2023 Page 6
ECONOMIC SUMMARY
Interest Rate History
-------------------------------------------------------------------------------------------------------------------------------------------------J
Fiscal Year 2018-2019 Fiscal Year 2019-2020 Fiscal Year 2020-2021
Dec-18 Mar-19 Jun-19 Sep-19 ; Dec-19 Mar-20 Jun-20 Sep-20; Dec-20 Mar-21 Jun-21 Sep-21
jMarket Sector:* 1 AKq.......Ay2.......Ay_q.......Avg i Avg Avg __Ayg------Ay.2...+-Ayjq-------Ay_q------.Ayg -Avg i
:Fed Funds(effective) : 2.40% 2.41% 2.37% 1.90%: 1.56% 0.02% 0.08% 0.09%: 0.08% 0.06% 0.05% 0.05%:
:3-Month U.S.T-Bill 2.36% 2.39% 2.09% 1.82%: 1.55% 0.09% 0.14% 0.10%: 0.07% 0.02% 0.04% 0.04%:
:2-Year U.S.T-Note 2.49% 2.26% 2.10% 1.76%: 1.57% 0.25% 0.15% 0.13%: 0.12% 0.15% 0.25% 0.21%:
Portfolio Benchmark(FRB) 2.33% 2.48% 2.00% 1.80%: 1.55% 0.33% 0.18% 0.13%: 0.12% 0.08% 0.07% 0.08%:
:Portfolio Yield 2.01% 2.20% 2.20% 2.08%: 1.96% 1.62% 1.31% 0.94%: 0.80% 0.45% 0.38% 0.24%:
----------------------- -------------------------------
------------------------------------------------------------------------------------------------------------------------------------------------
Fiscal Year 2021-2022 Fiscal Year 2022-2023
j Dec-21 Mar-22 Jun-22 Sep-22 j Dec-22 Mar-23 Jun-23 Sep-23 j
i Market Sector:* i Avg Avg Avg Avg j Avg Avg Avg Avg
-------------- --------------------- -----------------------------------------------J
:Fed Funds(effective) i 0.07% 0.32% 1.56% 3.05%: 4.32% 4.82% 5.07%
:3-Month U.S.T-Bill j 0.04% 0.50% 1.67% 3.27%: 4.37% 4.75% 5.30%
:2-Year U.S.T-Note 0.38% 1.61% 2.96% 4.28%: 4.43% 4.03% 4.90%
:Portfolio Benchmark(FRB) : 0.30% 1.34% 2.65% 3.89%: 4.68% 4.68% 5.24%
:Portfolio Yield ---0.17% 0.39% 1.20% 2.45%: 3.18% 3.88% 4.15%
I -------------------------------- - ----------------------------------- ------------------------------------------------
*Source:Hilltop Securities FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23
s.00%
4 00%
3.00%
2.00%
1 00%
0.00%
Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun-
Fed Funds -9&-3-Month T-Bill f2-Year T-Note Portfolio Benchmark* (Portfolio Yield
------------
*1yr const m .
Fiscal Year-to-Date Earnings
-----------------------;----------•,-----------------------;-- -------•-----------------------------------
1 st Quarter 2nd Quarter 3rd Quarter 4th Quarter
: t `-----------`-- - ---
:Fiscal Year: 3 Months 6 Months 9 Months 12 Months
:----------- a --------
:2022-2023 : $ 5,717,658: : $ 12,503,005: : $ 19,647,184: : $
2021-2022 $ 388,020 $ 753,874 $ 1,884,912 $ 5,537,498
:2020-2021 : $ 1,325,472: : $ 2,332,128: $ 2,937,508 $ 3,413,936
2019-2020 $ 2,982,157 $ 5,750,078 $ 7,712,197 $ 9,296,855
2018-2019 $ 2,952,850 $ 6,098,997 $ 9,268,624 $ 12,387,529
:QUARTERLY COMMENTARY
* ------------------------------------- ---------------------------------------------------------------------
:Staff Analysis :The portfolio is in compliance with the City's Investment Policy.During the third quarter eight investments matured
:totaling$107 million and eight investments were purchased totaling$85 million.The portfolio yield is 4.15%up 2.95%
:year over year and.27%quarter over quarter.The portfolio yield lagged the benchmark,1-year constant maturity US
:Treasury,by 109 basis points.This lag is due to the continued spike in short-term rates caused by Fed tightening.The
weighted average maturity was 180 days and the last day of the month liquidity was 18.7%.Staff will continue to
:monitor the investment portfolio and ensure compliance with the City's Investment Policy and the Public Funds
Investment Act.
Monthly Reports
Portfolio Management Page 1
Portfolio Details - Investments
June 30, 2023
Average Purchase Stated YTM Days to Maturity
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate 365 Maturity Date
Treasury Discounts-Amortizing
912797FJ1 4196 TREASURY BILL 05/16/2023 5,000,000.00 4,906,761.65 4,910,574.31 4.915 5.192 131 11/09/2023
912797FL6 4198 TREASURY BILL 05/25/2023 10,000,000.00 9,792,740.00 9,790,733.33 5.160 5.462 146 11/24/2023
912797FJ1 4200 TREASURY BILL 06/06/2023 10,000,000.00 9,813,523.30 9,809,136.64 5.245 5.517 131 11/09/2023
912797FT9 4201 TREASURY BILL 06/08/2023 10,000,000.00 9,772,840.60 9,770,664.59 5.193 5.482 159 12/07/2023
Subtotal and Average 30,309,015.79 35,000,000.00 34,285,865.55 34,281,108.87 5.445 143
Treasury Securities-Coupon
912828ZY9 4146 U.S.TREASURY 06/02/2022 10,000,000.00 9,983,431.20 9,992,011.34 0.125 2.244 14 07/15/2023
91282CER8 4148 U.S.TREASURY 06/14/2022 10,000,000.00 9,739,062.50 9,935,574.12 2.500 3.231 335 05/31/2024
912828VS6 4151 U.S.TREASURY 06/22/2022 20,000,000.00 19,933,780.40 19,988,085.47 2.500 2.993 45 08/15/2023
9128281366 4153 U.S.TREASURY 06/22/2022 10,000,000.00 9,836,718.80 9,975,374.43 2.750 3.155 229 02/15/2024
9128285K2 4154 U.S.TREASURY 06/28/2022 10,000,000.00 9,919,140.60 9,995,137.12 2.875 3.023 122 10/31/2023
9128285P1 4155 U.S.TREASURY 06/28/2022 10,000,000.00 9,898,046.90 9,993,719.95 2.875 3.029 152 11/30/2023
9128281366 4156 U.S.TREASURY 06/28/2022 20,000,000.00 19,673,437.60 19,961,941.22 2.750 3.063 229 02/15/2024
91282CEK3 4157 U.S.TREASURY 06/28/2022 10,000,000.00 9,760,156.20 9,950,520.83 2.500 3.115 304 04/30/2024
9128286G0 4159 U.S.TREASURY 07/26/2022 10,000,000.00 9,801,562.50 9,957,342.14 2.375 3.035 243 02/29/2024
912828D56 4160 U.S.TREASURY 07/26/2022 10,000,000.00 9,673,437.50 9,929,880.99 2.375 3.022 411 08/15/2024
9128282N9 4165 U.S.TREASURY 08/10/2022 10,000,000.00 9,655,468.80 9,883,072.56 2.125 3.248 396 07/31/2024
912828D56 4166 U.S.TREASURY 08/10/2022 10,000,000.00 9,673,437.50 9,905,547.83 2.375 3.249 411 08/15/2024
9128281366 4168 U.S.TREASURY 08/18/2022 20,000,000.00 19,673,437.60 19,930,534.57 2.750 3.323 229 02/15/2024
91282CFA4 4169 U.S.TREASURY 08/18/2022 5,000,000.00 4,872,851.55 4,982,101.38 3.000 3.343 396 07/31/2024
912828666 4175 U.S.TREASURY 10/11/2022 10,000,000.00 9,836,718.80 9,897,092.54 2.750 4.459 229 02/15/2024
9128281366 4177 U.S.TREASURY 10/13/2022 10,000,000.00 9,836,718.80 9,897,220.19 2.750 4.457 229 02/15/2024
912828G38 4180 U.S.TREASURY 11/03/2022 10,000,000.00 9,601,953.10 9,698,794.48 2.250 4.567 503 11/15/2024
91282CFA4 4182 U.S.TREASURY 11/16/2022 10,000,000.00 9,745,703.10 9,844,319.33 3.000 4.505 396 07/31/2024
912828WJ5 4188 U.S.TREASURY 02/16/2023 10,000,000.00 9,750,390.60 9,789,755.99 2.500 5.010 319 05/15/2024
91282CAK7 4189 U.S.TREASURY 02/17/2023 10,000,000.00 9,897,887.90 9,902,172.62 0.125 4.978 76 09/15/2023
91282CAF8 4190 U.S.TREASURY 02/17/2023 10,000,000.00 9,939,415.50 9,941,569.92 0.125 4.940 45 08/15/2023
Subtotal and Average 237,902,186.92 235,000,000.00 230,702,757.45 233,351,769.02 3.558 238
Federal Agency Issues-Coupon
3133EKAU0 4013 FFCB 02/21/2019 10,000,000.00 9,960,798.30 9,999,972.22 2.570 2.572 51 08/21/2023
3133ENYH7 4149 FFCB 06/16/2022 10,000,000.00 9,743,456.30 9,942,379.92 2.625 3.262 345 06/10/2024
3133ENK33 4172 FFCB 09/06/2022 15,000,000.00 14,813,816.10 14,994,078.69 3.625 3.685 249 03/06/2024
3133ENS43 4178 FFCB 10/25/2022 4,575,000.00 4,502,526.05 4,561,890.79 4.375 4.609 474 10/17/2024
3133EN7D6 4187 FFCB 01/26/2023 10,000,000.00 9,936,999.60 9,997,377.78 4.750 4.789 300 04/26/2024
3133EPCW3 4193 FFCB 03/10/2023 15,000,000.00 14,964,629.10 14,982,453.19 5.000 5.074 618 03/10/2025
3130A3DL5 4152 FHLB 06/22/2022 20,000,000.00 19,884,188.20 19,973,876.15 2.375 3.094 69 09/08/2023
Portfolio CITY
Data Updated:SET_MO:07/12/2023 10:26 AP
Run Date:07/12/2023-10:26
PM(PRF_PM2)7.3.11
Report Ver.7.3.11
Monthly Reports
Portfolio Management Page 2
Portfolio Details - Investments
June 30, 2023
Average Purchase Stated YTM Days to Maturity
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate 365 Maturity Date
Federal Agency Issues-Coupon
3130AOF70 4158 FHLB 06/30/2022 10,000,000.00 9,917,165.50 10,010,577.80 3.375 3.124 160 12/08/2023
3130AOXE5 4161 FHLB 07/26/2022 10,000,000.00 9,852,629.80 10,013,071.48 3.250 3.052 251 03/08/2024
3130ASV55 4164 FHLB 08/04/2022 10,000,000.00 9,977,825.80 9,997,855.00 3.000 3.240 34 08/04/2023
3130AOF70 4167 FHLB 08/16/2022 20,000,000.00 19,834,331.00 20,005,521.61 3.375 3.307 160 12/08/2023
3130AFBCO 4170 FHLB 08/29/2022 10,000,000.00 9,750,350.50 9,974,221.25 3.250 3.474 440 09/13/2024
3130ASHK8 4171 FHLB 08/29/2022 10,000,000.00 9,812,287.30 9,965,905.27 3.125 3.496 349 06/14/2024
3130ATDJ3 4174 FHLB 09/16/2022 10,000,000.00 9,962,530.40 9,994,633.80 3.875 4.144 76 09/15/2023
3130AUFY5 4185 FHLB 01/05/2023 10,000,000.00 9,970,335.40 9,994,714.96 4.750 4.857 188 01/05/2024
3130AUFF6 4186 FHLB 01/05/2023 10,000,000.00 9,971,405.80 9,998,847.69 4.850 4.874 219 02/05/2024
3130AVVW9 4195 FHLB 05/08/2023 10,000,000.00 9,946,999.90 9,996,708.28 4.875 4.915 312 05/08/2024
3135GO5G4 4147 FNMA 06/08/2022 5,000,000.00 4,993,206.30 4,997,405.98 0.250 2.364 9 07/10/2023
Subtotal and Average 201,088,259.90 199,575,000.00 197,795,481.35 199,401,491.86 3.759 236
Federal Agency Issues-Callable
3130AQ4136 4199 FHLB 06/06/2023 10,000,000.00 9,408,657.50 9,461,696.23 1.200 5.031 541 12/23/2024
Subtotal and Average 7,874,628.37 10,000,000.00 9,408,657.50 9,461,696.23 5.031 541
Commercial Paper Disc.-Amortizing
46640QVB4 4181 JP MORGAN SECURITIES LLC 11/16/2022 5,000,000.00 4,969,445.00 4,971,243.06 5.050 5.345 41 08/11/2023
46640PCB7 4202 JP MORGAN SECURITIES LLC 06/16/2023 25,000,000.00 23,991,500.00 24,047,500.00 5.400 5.705 254 03/11/2024
78009BU34 4176 RBC 10/11/2022 10,000,000.00 9,995,790.00 9,997,416.67 4.650 4.917 2 07/03/2023
78009BVN9 4183 RBC 11/25/2022 7,500,000.00 7,442,340.00 7,443,125.00 5.250 5.565 52 08/22/2023
89233HXRO 4191 TOYOTA MOTOR CREDIT 02/22/2023 20,000,000.00 19,648,800.00 19,664,888.89 5.200 5.494 116 10/25/2023
89233HYN8 4192 TOYOTA MOTOR CREDIT 03/01/2023 10,000,000.00 9,779,760.00 9,790,000.00 5.250 5.607 144 11/22/2023
89233HYA6 4197 TOYOTA MOTOR CREDIT 05/16/2023 5,000,000.00 4,899,510.00 4,905,400.00 5.160 5.488 132 11/10/2023
Subtotal and Average 80,655,570.02 82,500,000.00 80,727,145.00 80,819,573.62 5.496 137
Local Govt Investment Pools
SYS3996 3996 LOCAL GOVT INV POOL-TEXPOOL 70,000,000.00 70,000,000.00 70,000,000.00 5.091 5.091 1
SYS3641 3641 LOCAL GOVT INV POOL-TEXSTAR 40,000,000.00 40,000,000.00 40,000,000.00 5.099 5.099 1
Subtotal and Average 121,166,666.67 110,000,000.00 110,000,000.00 110,000,000.00 5.094 1
Demand Deposits
SYS3706 3706 DEMAND DEPOSITS- WELLS FARGO 5,699,507.46 5,699,507.46 5,699,507.46 1.650 1.650 1
SYS4082 4082 DEMAND DEPOSITS- WELLS FARGO 10/01/2022 0.00 0.00 0.00 0.000 1
SYS4104 4104 DEMAND DEPOSITS- WELLS FARGO 13,964,687.30 13,964,687.30 13,964,687.30 1.650 1.650 1
Subtotal and Average 28,539,184.14 19,664,194.76 19,664,194.76 19,664,194.76 1.650 1
Portfolio CITY
Data Updated:SET_MO:07/12/2023 10:26 AP
Run Date:07/12/2023-10:26
PM(PRF_PM2)7.3.11
Monthly Reports
Portfolio Management Page 3
Portfolio Details - Investments
June 30, 2023
Average Purchase Stated YTM Days to
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate 365 Maturity
Total and Average 707,535,511.81 691,739,194.76 682,584,101.61 686,979,834.36 4.150 180
Portfolio CITY
Data Updated:SET_MO:07/12/2023 10:26 AP
Run Date:07/12/2023-10:26
PM(PRF_PM2)7.3.11
Monthly Reports
Portfolio Management Page 4
Portfolio Details - Cash
June 30, 2023
Average Purchase Stated YTM Days to
CUSIP Investment# Issuer Balance Date Par Value Market Value Book Value Rate 365 Maturity
Average Balance 0.00 0
Total Cash and Investments 707,535,511.81 691,739,194.76 682,584,101.61 686,979,834.36 4.150 180
Portfolio CITY
Data Updated:SET_MO:07/12/2023 10:26 AP
Run Date:07/12/2023-10:26
PM(PRF_PM2)7.3.11