HomeMy WebLinkAbout2023-065 Quarterly Financial Report ending June 30, 2023October 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
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
Note: All figures presented are in millions of dollars.
FY 2022-23 FY 2022-23
ANNUAL YTD
DESCRIPTION BUDGET
1 ACTUALS ANNUAL VARIANCE
Beginning Fund Balance
as of 09/30/22 1 40.81$ 45.46$ 45.46$
RESOURCES:
Ad Valorem Taxes 57.78 57.19 57.53 0%
Sales Tax 54.72 41.62 55.03 1% Franchise Fees 2.72 3.22 4.50 65% Other Taxes 0.46 0.34 0.45 -3% Service Fees 8.37 6.13 9.19 10%
Fines and Fees 2.40 1.37 1.87 -22% Licenses and Permits 8.86 4.77 6.29 -29% Miscellaneous Revenue 5.04 4.76 5.15 2% Transfers In 42.51 22.07 33.95 -20%
Total Revenues 182.86 141.48 173.96 -5%
Total Resources 223.67 186.94 219.42
EXPENDITURES:
Personnel Services 114.87 83.85 113.93 -1% Material and Supplies 3.76 2.43 4.24 13% 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% Transfers Out 21.96 17.13 22.41 2% Fixed Assets 0.54 0.40 0.55 1%
Total Expenditures 183.96 121.68 174.11 -5%
Net Income (Loss) (1.10) 19.80 (0.15)
Ending Fund Balance 39.71$ 65.26$ 45.31$
FY 2022-23
PROJECTIONS
City of Denton, Texas
General Fund Executive Dashboard
$-
$20
$40
$60
$80
$100
$120
$140
$160
Revenue & Expenses (in Millions)
YTD Revenue YTD Expenses
Key Trends
Revenues from investment income is trending above budget.
Franchise Fee revenues are trending higher than budget
Revenues from sales tax remain flat for quarter three.
Revenue from Building Permits are lower than expected.
Insurance expenses have increased.
Cost of Service expenses have increased.
Operation expenditures are trending lower than expected. $-
$1.0
$2.0
$3.0
$4.0
$5.0
$6.0
Sales Tax Monthly Average by Quarter
1Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was
estimated in the FY 2022-23 budget process.
Note: All figures presented are in millions of dollars.
City of Denton, Texas
Electric Fund Executive Dashboard
FY 2022-23
ANNUAL YTD P ROJECTIONS
DES CRIP TION B UDGET
1 ACTUALS ANNUAL VARIANCE
B e ginning Wo rking Capital
and Re s e rve s as o f 9/30/22 136.99$ 140.78$ 140.78$
RES OURCES :
Rate Re ve nue s 296.23 128.87 205.29 -31%
Trans mis s io n Re ve nue 45.77 42.17 55.04 20%
Othe r Re ve nue s 5.36 5.24 5.36 0%
DEC Re ve nue s 52.55 24.31 50.92 -3%
To tal Re ve nue s 399.91 200.59 316.61 -21%
To tal Re s o urc e s 536.90 341.37 457.39
EXP ENDITURES :
P urc has e d P o we r 197.75 91.35 162.85 -18%
DEC Fue l 37.05 7.66 22.38 -40%
Trans mis s io n o f P o we r 22.10 15.82 22.10 0%
P e rs o nne l S e rvic e 25.89 16.27 22.38 -14%
Ope ratio n and Mainte nanc e 53.15 28.94 47.88 -10%
De bt S e rvic e 62.45 54.06 62.45 0%
Trans fe rs Out 15.19 11.38 15.45 2%
Capital Outlay 1.83 4.62 4.70 157%
To tal Expe nditure s 415.41 230.10 360.19 -13%
Ne t Inc o me (Lo s s ) (15.50) (29.51) (43.58)
Ending Wo rking Capital
and Re s e rve s 121.49$ 111.27$ 97.20$
FY 2022-23
$0
$50
$100
$150
$200
$250
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
Revenue & Expenses (in Millions)
YTD Revenue YTD Expense
Key Trends
DEC Fuel expenses are projected lower than budget due to a decrease in fuel costs.
0
100
200
300
400
500
600
1Q17 3Q17 1Q18 3Q18 1Q19 3Q19 1Q20 3Q20 1Q21 3Q21 1Q22 3Q22 1Q23 3Q23
2017 – 2023 Historical Quarterly GWH Sales
1 Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY 2022-23 budget process.
Note: All figures presented are in millions of dollars.
FY 2022-23
ANNUAL YTD
DES CRIP TION B UDGET
1 ACTUALS ANNUAL VARIANCE
B e ginning Wo rking Capital
and Re s e rve s as o f 09/30/22
2 24.71$ 29.59$ 29.59$
RES OURCES :
Wate r S ale s 43.83 30.03 43.81 0%
Othe r Wate r Re ve nue s 8.14 1.61 2.09 -74%
Trans fe rs In 3.57 2.17 3.57 0%
Impac t Fe e Re ve nue 6.61 4.95 6.60 0%
To tal Re ve nue s 62.15 38.76 56.07 -10%
To tal Re s o urc e s 86.86 68.35 85.66
EXP ENDITURES :
P e rs o nne l S e rvic e 10.02 6.45 8.80 -12%
Ope ratio ns , S e rvic e s 13.57 9.49 13.73 1%
Capital Outlay 21.18 7.94 14.36 -32%
De bt S e rvic e 10.24 9.69 10.24 0%
Trans fe rs Out 8.05 6.47 8.05 0%
To tal Expe nditure s 63.06 40.04 55.18 -12%
Ne t Inc o me (Lo s s ) (0.91) (1.28) 0.89
Ending Wo rking Capital
and Re s e rve s 23.80$ 28.31$ 30.48$
FY 2022-23
P ROJECTIONS
City of Denton, Texas
Water Fund Executive Dashboard
$-
$5
$10
$15
$20
$25
$30
$35
$40
$45
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
Revenue & Expenses (in Millions)
YTD Revenue YTD Expenses
Key Trends
Other Water Revenues and Capital Outlay both decreased from budget due to cost
participation payments now expected to be received in future fiscal years.
Personnel Services are currently projected to come in under budget by $1.2M
1Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the
FY 2022-23 budget process.
2The Beginning Working Capital balance excludes $32.8 million of Impact Fee Reserves and $2.4 million in additional reserves
related to future payments to the Army Corps of Engineers for Lake Lewisville dam repairs.
0
500
1,000
1,500
2,000
2,500
3,000
2016-2023 Historical Quarterly Gallons Sold (in Millions)
FY 2022-23
ANNUAL YTD
DES CRIP TION B UDGET
1 ACTUALS
ANNUAL VARIANCE
B e ginning Wo rking Capital
and Re s e rve s as o f 09/30/22
2 24.81$ 28.12$ 28.12$
RES OURCES :
Was te wate r Fe e s 29.32 20.40 27.86 -5%
Othe r Was te wate r Re ve nue 2.52 1.99 2.20 -13%
Drainage Fe e s 5.84 3.49 4.70 -20%
Co s t P artic ipatio n 13.65 - - -100%
Trans fe r In 0.61 0.46 0.61 0%
Impac t Fe e Re ve nue 4.27 3.20 4.27 0%
To tal Re ve nue s 56.21 29.54 39.64 -29%
To tal Re s o urc e s 81.02 57.66 67.76
EXP ENDITURES :
P e rs o nne l S e rvic e 8.78 5.96 8.45 -4%
Ope ratio ns , S e rvic e s 10.84 7.58 11.52 6%
Capital Outlay 29.76 13.86 15.25 -49%
De bt S e rvic e 8.63 8.03 8.63 0%
Trans fe r Out 8.47 6.57 8.47 0%
To tal Expe nditure s 66.48 42.00 52.32 -21%
Ne t Inc o me (Lo s s ) (10.27) (12.46) (12.68)
Ending Wo rking Capital
and Re s e rve s 14.54$ 15.66$ 15.44$
FY 2022-23
P ROJECTIONS
Note: All figures presented are in millions of dollars.
City of Denton, Texas
Wastewater Fund Executive Dashboard
$-
$5
$10
$15
$20
$25
$30
$35
$40
$45
Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23
Revenue & Expenses (in Millions)
YTD Revenue YTD Expenses
Key Trends
Cost participation and capital outlay both decreased from budget due to cost
participation reimbursements that are now being expected in the next fiscal year.
1Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in
the FY 2022-23 budget process.
2The Beginning Working Capital balance excludes $20.4 million of Impact Fee Reserves, $1.0 million for Drainage Reserves.
0
200
400
600
800
1,000
1,200
1,400
2016-2023 Historical Quarterly Gallons Billed (in Millions)
FY 2022-23ANNUAL YTDDESCRIPTION BUDGET ACTUALS ANNUALVARIANCEREVENUES: Residential Drainage Fees 2.18$ 1.60$ 2.18$ 0% Nonresidential Drainage Fees 3.65 1.89 2.63 -28% Wastewater Resources 0.07 - 0.02 -71% General Fund Transfer 0.38 0.28 0.38 0%Total Revenues 6.28 3.77 5.21 -17%EXPENDITURES: P ers o nnel Service 2.24 1.37 2.05 -8% Operations, Services 1.07 0.58 0.77 -28% Capital Outlay 2.23 0.62 1.65 -26% Debt Service - - - 0% Transfer Out 0.74 0.42 0.74 0%Total Expenditures 6.28 2.99 5.21 -17%Net Income (Loss) -$ 0.78$ -$ FY 2022-23PROJECTIONSNote: All figures presented are in millions of dollars.City of Denton, Texas Drainage Operations Executive Dashboard $‐ $0.5 $1.0 $1.5 $2.0 $2.5 $3.0 $3.5 $4.0Oct‐22 Nov‐22 Dec‐22 Jan‐23 Feb‐23 Mar‐23 Apr‐23 May‐23 Jun‐23Revenue & Expenses (in Millions)YTD RevenueYTD ExpensesKey TrendsRevenues 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.
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Q3
2022
Q4
2023
Q1
2023
Q2
2023
Q3
Recycling and ReuseTonnage
Residential Curbside Collection Tonnage
Note: All figures presented are in millions of dollars.
City of Denton, Texas
Solid Waste Fund Executive Dashboard
Key Trends
Personnel plus Material and Supplies expenses are trending below budget.0
5,000
10,000
15,000
20,000
25,000
30,000
2021
Q4
2022
Q1
2022
Q2
2022
Q3
2022
Q4
2023
Q1
2023
Q2
2023
Q3
Commercial Refuse & Recycling (Front & Side Load)
Cubic Yards Serviced per Week
Commercial Refuse Commercial Recycling1Annual 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 $12.68 million of Landfill Closure/Post Closure reserves.
FY 2022 - 23 FY 2022 - 23
ANNUAL YTD PROJECTIONS
DES CRIPTION BUDGET 1 ACTUALS
Be ginning Working Ca pita l
and Re s e rve s as of 09/30 /2 2
2 10.27$ 12.14$ 12.14$
RES OURCES :
Colle c tion & Dis pos al 31.01 23.37 30 .64 - 1%
Re c yc ling 7 .31 5.51 7 .23 - 1%
Othe r Re ve nue 1.03 0.94 1.45 41%
To ta l Re ve nue s 39.35 29.82 39 .32 0%
To ta l Re s ourc e s 49.62 41.96 51.46
EXPENDITURES :
Pe rs onne l S e rvic e 12.32 8.63 12 .00 - 3%
Ope ra tions , S e rvic e s 10.55 7.48 10 .11 - 4%
Capital Outla y 8.24 7.73 8 .04 - 2%
De bt S e rvic e 3.90 3.71 3 .90 0%
Landfill Clo s ure 0.74 0.55 0 .74 0%
Tra ns fe r Out 5.96 3.63 5 .96 0%
To ta l Expe nditure s 41.71 31.73 40 .75 - 2%
Ne t Inc o me (Lo s s ) (2.36 ) (1.91) (1.43)
Ending Working Capital
and Re s e rve s 7 .91$ 10.23$ 10.71$
ANNUAL VARIANCE
City of Denton, Texas Airport Fund Executive DashboardKey TrendsInterest earned on investments is well above original budget expectations.A focus on controlling costs has kept most expense groups well under budget expectations.$0.0$1.0$2.02013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023GAS WELLREVENUE(in millions of dollars by fiscal year) 20,000 30,000 40,000 50,000 60,000AIRPORT OPERATIONS BY QUARTER(takeoff or landing by fiscal year)Note: All financial amounts presented are in millions of dollars.FY 2022-23 FY 2022-23ANNUAL YTDDESCRIPTIONBUDGET 1ACTUALS ANNUAL VARIANCEBeginning Working Capital and Reserves as of 09/30/22 2.38$ 3.14$ 3.14$ RESOURCES: Airport Ground Leases 0.84 0.69 0.84 0% FBO Commissions 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: 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 NON-OPERATING REVENUES: Investment Income 0.01 0.16 0.20 1900% Gas Well Royalties 0.32 0.24 0.40 25% Miscellaneos Income 0.00 0.00 0.00 0%Total Non-Operating Revenues 0.33 0.41 0.60 82%NON-OPERATING EXPENDITURES: Debt Service 0.74 0.69 0.74 0% Transfer Out - Capital - - - 0%Total Non-Operating Expenditures 0.74 0.69 0.74 0%Net Non-Operating Income (Loss) (0.41) (0.28) (0.14) Net Income (Loss) (0.65) (0.31) (0.12) Ending Working Capital and Reserves 1.73$ 2.83$ 3.02$ PROJECTIONS1Annual 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, Texas
Street Improvement Fund Executive Dashboard
Key Trends
Revenues and expenditures are projected to meet budgeted level.
Interest earned on investments is well above original budget expectations.
1Annual 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.
FY 2022-23
ANNUAL YTD
DESCRIPTION BUDGET
1 ACTUALS ANNUAL VARIANCE
Beginning Working Capital
and Reserves as of 09/30/22 3.60$ 4.50$ 4.50$
RESOURCES:
Franchise Fees 15.10 11.51 15.10 0%
Investment Income 0.04 0.17 0.22 -82%
Transfers In 1.31 0.99 1.31 0%
Total Revenues 16.45 12.67 16.63
Total Resources 20.05 17.17 21.13
EXPENDITURES:
Personnel Services 3.97 2.40 3.96 0%
Materials & Supplies 0.10 0.09 0.13 -23%
Maintenance & Repairs 4.29 3.82 5.39 -20%
Operations, Services 1.35 1.10 1.35 0%
Transfer Out 7.63 6.20 7.63 0%
Total Expenditures 17.34 13.61 18.46
Net Income (Loss) (0.89)$ (0.94)$ (1.83)$
FY 2022-23
PROJECTIONS
$0.0
$2.0
$4.0
$6.0
$8.0
$10.0
$12.0
$14.0
$16.0
Oct Nov Dec Jan Feb Mar Apr May June
Revenues & Expenditures (in Millions)
YTD Revenues YTD Expenditures
0
2
4
6
8
10
12
Qtr1 Qtr2 Qtr3
Tons of Asphalt Laid (in Thousands)
FY 21-22 FY 22-23
0.0
10.0
20.0
30.0
40.0
Qtr1 Qtr2 Qtr3
Lane Miles Surface Treatment
FY 21-22 FY 22-23
* Note: There was no activity for 2nd and 3rd Quarters
due to the high temperatures.
FY 2022-23 FY 2022-23GRANT YTDDESCRIPTION AMOUNT ACTUALS2022-23 Budget Comm Development 5.65$ 1.28$ Public Safety5.99 1.05 Transportation 52.61 4.98 Other 20.57 4.62 Total Budget 84.82 11.93 New Awards Public Safety0.23 0.23 Transportation0.40 0.40 Total New Awards 0.63 0.63 Totals 85.45$ 12.56$ COMM DEV6.61%PUBLIC SAFETY7.28%TRANS62.04%OTHER24.07%FY 2022‐23 Grants Awarded $‐ $20.0 $40.0 $60.0COMMDEVPUBLICSAFETYTRANSOTHERAwardsExpensesFY 2022‐23 Awards & Expenses (in Millions)City of Denton, Texas Grants DashboardNote: All figures presented are in millions of dollars.Key Trends:The following grants have been received in FY 2022-23:Federal Equitable Sharing: $46,000Chapter 59 Asset Forfeitures: $39,416U.S. Marshals Violent Offenders Task: $64,492North Texas Organized Crime Task Force:$6,098U.S. Immigration & Customs Enforcement: $357FY2021 Improving Criminal Justice Responses: $26,440Texas Department of Public Safety's Texas Division of Emergency Management (TDEM)-Winter Storm: $1,7532022 SHSP-Hazmat Dry Decon Kit:$13,291DWI Phlebotomy Program:$26,583Police-Law Enforcement Officer Standards Education: $4,716Fire-Law Enforcement Officer Standards Education:$25TxDot-Bonnie Brae-Windsor Drive to US 77:$396,631Rural Texas Women at Work:$600Eco-poetry: A Community-Based Discussion Series:$1,500
Section 2
City of Denton
Quarterly Financial Report
June 2023
This report is designed for internal use and does not include all the
funds and accounts included in the City of Denton’s operations. The
information provided is unaudited; for a complete audited report,
please refer to the City of Denton Comprehensive Annual Financial
Report, available through the City’s Finance Department, City
Secretary’s Office, or Denton Public Libraries.
FINANCIAL SUMMARY
City of Denton
General Fund
Schedule of Revenues - Budget vs Projection (Unaudited)
For the Period Ended June 30, 2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
REVENUE DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET PROJECTION PROJECTION
Current Year - Ad Valorem 48,065,826$ 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 41,616,360 54,722,022 55,025,949 1%
Franchise - Gas Utilities 217,863 126,818 345,065 225,478 373,893 66%
Franchise - Private Electric Utilities 32,937 12,178 44,501 50,522 83,777 66%
Franchise - Cable 92,959 105,471 106,058 174,998 290,185 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 3,697,166 66%
Franchise Fees 2,308,252 1,581,109 3,217,896 2,716,117 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 83,743 183,556 161,657 203,892 26%
Building Inspections Fees 511,753 436,395 566,962 615,843 783,789 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 5,098,666 6,134,735 8,370,596 9,194,440 10%
Denton Municipal Fines 499,520 634,509 464,495 846,000 747,175 -12%
Parking Fines 71,025 104,250 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 1,751,656 1,374,925 2,396,756 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 4,773,998 8,858,784 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 10,209,446 27,573,659 18,263,062 -34%
Transfers 21,220,831 31,609,648 22,070,600 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 6,218,347 6,184,828 -1%
Parks and Recreation 10,541,403 12,512,945 10,673,102 16,681,570 17,014,118 2%
Planning 2,344,051 2,367,133 1,853,494 3,093,774 2,590,368 -16%
Development Services Admin 868,123 1,077,831 1,161,290 1,436,912 1,550,534 8%
Gas Well Review 68,038 285,204 131,798 380,218 475,969 25%
Social Services 1,757,149 2,491,232 2,035,541 3,321,188 3,056,081 -8%
22,827,772 26,361,194 23,075,649 35,081,394 34,472,091 -2%
PUBLIC SAFETY
Animal Services 1,783,831 2,099,539 2,032,760 2,798,999 3,022,671 8%
Fire 27,264,629 29,512,502 28,943,731 39,344,725 39,572,763 1%
Municipal Judge 406,861 492,545 490,768 656,630 655,412 0%
Police 33,271,098 37,588,087 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 705,723 675,090 706,975 900,000 821,514 -9%
2,398,831 2,783,460 2,681,659 3,710,774 3,749,647 1%
ADMINISTRATIVE & COMMUNITY SERVICES
City Manager's Office 1,745,347 2,239,726 2,465,999 2,981,451 3,353,280 12%
Economic Development 1,897,734 3,873,963 2,448,625 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 434,910 438,320 446,507 584,337 616,150 5%
Legal Administration 2,104,897 2,439,231 2,097,593 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 110,925,307$ 138,265,841$ 121,680,230$ 183,960,402$ 174,107,015$ -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
BUDGET1 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%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$
1Annual 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 BUDGET2 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$
budget process.
2 Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY 2022-23
1 The Beginning Working Capital balance excludes $32.8 million of Impact Fee Reserves and $2.4 million in additional reserves related to future payments
to the Army Corps of Engineers for Lake Lewisville dam repairs.
City of Denton
Wastewater Fund
Schedule of Revenues and Expenditures - Budget vs Projections (Unaudited)
For the Period Ended June 30, 2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D
BUDGET2 PROJECTION PROJECTION
Beginning Working Capital
and Reserves as of 09/30/221 24,812,689$ 28,123,711$
REVENUES:
Residential Fees 8,965,659$ 10,215,986$ 9,745,482$ 12,882,706 12,500,000 -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 74,276 115,077 85,000 -26%
Wholesale Fees 497,789 444,901 594,599 593,123 750,000 26%
Other Wastewater Fees 1,479,888 1,815,145 1,600,113 2,419,863 1,700,000 -30%
Drainage Fees 4,047,102 4,437,917 3,491,161 5,836,813 4,700,000 -19%
Cost Participation - 10,237,365 - 13,648,000 - -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 28,111,039 42,601,012 29,548,806 56,209,454 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 1,350,476 1,800,000 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 8,628,692 8,628,692 0%
Transfers Out 4,242,358 6,356,303 6,570,176 8,473,931 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 Working Capital
and Reserves 14,542,418$ 15,444,301$
2 Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated
in the FY 2022-23 budget process.
1 The Beginning Working Capital balance excludes $20.4 million of Impact Fee Reserves and $1.0 million for Drainage Reserves.
City of Denton
Drainage Operations
Schedule of Revenues and Expenditures - Budget vs Projections (Unaudited)
For the Period Ended June 30, 2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET PROJECTION PROJECTION
REVENUES:
Residential Drainage Fees 1,555,780$ 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 BUDGET2 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 $12,684,710 Landfill Closure/Post Closure Reserves.
2 Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY 2022-23 budget process.
City of Denton
Airport Fund
Schedule of Revenues and Expenditures - Budget vs Projection (Unaudited)
For the Period Ended June 30, 2023
PRIOR BUDGET CURRENT ANNUAL ANNUAL BUDGET VS
DESCRIPTION Y-T-D Y-T-D Y-T-D BUDGET1 PROJECTION PROJECTION
Beginning Working Capital
and Reserves as of 09/30/221 2,380,921$ 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
BUDGET1 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
1Annual 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
GRANT DESCRIPTION
EXPENDITURES
AS OF 9/30/20221
CURRENT
Y-T-D
ANNUAL
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 Development1 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 Safety1 966,914 1,045,745 5,992,811
Airport Maintenance (RAMP) Grant - 9,368 50,000
TxDot-RTR-Mayhill Rd-IH35 E to US 380 53,325,009 422,620 11,835,375 TxDot-RTR-Mayhill Road South of Spencer Road to
IH35 East - 1,550,596 4,000,000
TxDot-RTR-Bonnie Brae Rd-IH35 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 TxDot-RTR-Hickory Creek FM 1830 to Riverpass
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 Safe Routes to School-Ginnings & Lee Elementary
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
Transportation1 103,986,805 4,978,814 52,611,522
City of Denton
Grants
Schedule of Expenditures (Unaudited)
For the Period Ended June 30, 2023
GRANT DESCRIPTION
EXPENDITURES
AS OF 9/30/20221
CURRENT
Y-T-D
ANNUAL
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
GRANT DESCRIPTION
EXPENDITURES
AS OF 9/30/20221
CURRENT
Y-T-D
ANNUAL
BUDGET
1 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 Outlook Negative
Source: Federal Reserve Bank of Dallas
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.
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
Texas Leading Indicators Index
1
National Economic Trends
Period Ending June 30, 2023
Gross Domestic Product (GDP)
The initial reading of second quarter GDP came
in at a +2.4% quarter-over-quarter annualized
rate, topping the +1.8% median forecast.
Personal consumption rose +1.6 during the
quarter, indicating that consumer spending had
slowed, but remains quite positive. The biggest
surprise was a +7.7% rise in business investment
as U.S. companies gained confidence and
invested heavily in structures and equipment.
Business inventories, which plunged in the
previous quarter and were expected to rebound
significantly, edged up by just +0.1%. Residential
investment (housing) was expected to rise
slightly, but actually fell -4.2%. The ongoing
resilience of the American economy may be
frustrating Fed officials, who are hoping to slow
consumer demand and by extension reduce the
number of available jobs, but investors are now
sensing that a soft-landing may be possible.
Employment: Non-farm Payrolls
U.S. businesses added +209k jobs to company
payrolls in June, slightly below the +230k median
forecast. This followed revised gains of +306k and
+217k in the previous two months and brought
the average for the quarter down from +344k in
Q1 to +267k. Private payrolls added just +196k
jobs in June, the fewest since late 2020. The
unemployment rate declined from 3.7% to 3.6%,
while the total number of unemployed workers
actively seeking work decreased from 6.1 million
to 6.0 million. Another 5.4 million Americans
would like a job but had not looked for work
within past 30 days. There is still a significant
mismatch between the 9.8 million job postings
from the most recent JOLTS report and the six
million Americans seeking work. This mismatch
has kept pressure on wages as hourly earnings
rose +0.4% in June driving the annual rate up
from +4.2% to +4.4%. Until wage growth slows,
inflation will linger.
Gross Domestic Product (Quarter-over-Quarter Annualized Percent Change)
Source: Bureau of Economic Analysis
-4%
-2%
0%
2%
4%
6%
8%Consumption
Business Fixed Investment
Residential Investment
Inventories
Net Exports
Government Spending
GDP
Q1 2023
Q4 2022
Q2 2023
Q3 2022
Q3 2022
Q3 2022
Non-Farm Payrolls Total Change (in thousands)
Source: Bureau of Labor Statistics
904
414
254
364 370
568
352 350 324 290 239
472
248 217 217
306
209
0
100
200
300
400
500
600
700
800
900
1,000
2
Inflation
The overall consumer price index (CPI) rose just
+0.2% in June, below the median forecast
despite a substantial rise in gas prices. Service
inflation contributed more than 60% to the
overall index; within the services component,
shelter costs accounted for over 70%. On a year-
over-year basis, overall CPI was up just +3.0% in
June, down from +4.0% in May and a peak of
+9.1% a year ago. As dramatic as the 12-month
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
pump prices up +1.0% after falling -5.6% in May.
Over the past 12 months, gas prices are -26.5%
lower. Core CPI rose by just +0.2% in May,
comfortably below the +0.3% median forecast
and the smallest single month increase in core
inflation since August 2021. The year-over-year
core rate was better-than-expected at +4.8%,
the first time since November 2021 the annual
pace was below +5.0%.
Retail Sales
U.S. retail sales rose less than expected in June,
although the still brisk spending pace remains
inconsistent with recession. Eight of 13
categories increased in June, matching the
previous month. Headline sales rose +0.2%,
down from a revised +0.5% increase in May and
well below median forecast. Online sales rose by
a surprising +1.9%, while brick and mortar store
sales fell by -2.4%. Sales at restaurants and bars
rose by just +0.1% after climbing +1.2% in May.
These categories may reflect Americans choosing
to stay home during the hottest June on record.
However, “control group” sales, which exclude
auto dealers, gas stations, building materials
stores and food service establishments rose a
surprising +0.6%, triple the median forecast.
Since the control group number is used in the
quarterly GDP calculation, the second quarter
ended on a slightly higher note. On a year-over-
year basis, the slowdown in spending is more
apparent with a modest +1.7% increase.
Consumer Price Index (Year-over-Year Percent Change)
44865 1.3169 0.013169
Source: Bureau of Labor Statistics
-2%
0%
2%
4%
6%
8%
10%
Services
Goods
Food
Energy
CPI-All Items
CPI-Core
Retail Sales (Year-over-Year Percent Change)
Source: US Census Bureau
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%Retail Sales (Y-O-Y)Control Group (Y-O-Y)
3
Texas and Denton County Home Sales
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
Fuel Prices Outlook Negative
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.
Source: U.S. Department of Energy
$0
$2
$4
$6
$8
$10
$12
$14
$16
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
1Q
'20
2Q
'20
3Q
'20
4Q
'20
1Q
'21
2Q
'21
3Q
'21
4Q
'21
1Q
'22
2Q
'22
3Q
'22
4Q
'22
1Q
'23
2Q
'23
3Q
'23 MillionsDollarsFuel Prices
Sales Tax Texas Fuel Prices US Fuel Prices
Municipal Cost Index Outlook Negative
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.
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.
0.00
50.00
100.00
150.00
200.00
250.00
300.00
350.00
3Q '20 4Q '20 1Q '21 2Q '21 3Q '21 4Q '21 1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23 3Q '23
Municipal Cost Index
Hotel Occupancy Tax Analysis Outlook 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$
Hotel Occupancy Tax Budget:3,470,152$
3,875,000$
Variance:404,848$
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.
FISCAL YEAR FORECAST
End of Year Projection:
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
1st Qtr 2nd Qtr 3rd Qtr 4th Qtr
Hotel Occupancy Tax Collections
FY 2019-20 FY 2020-21 FY 2021-22 FY 2022-23
Sales and Use Tax Analysis Outlook Positive
3rd Quarter FY 2022-23
Actuals Y-T-D
Revenue: Gross Sales Tax
Municipal Operations 468,186$ 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$ $41,616,362
Expenses: Economic Incentives*
Economic Incentives1 867,615$ 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)$
* Economic Incentive actuals are June 2023
1. Includes Unicorn Lake, Rayzor Ranch, Golden Triangle Mall, O'Reilly Hospitality, and Buc-ee's.
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.
$0.0
$2,000,000.0
$4,000,000.0
$6,000,000.0
$8,000,000.0
$10,000,000.0
$12,000,000.0
1 2 3 4
Gross Sales Tax Collections (Millions)
FY 2018-19 Actual FY 2019-20 Actual FY 2020-21 Actual FY 2021-22 Actual FY 2022-23 Actual
Certificates of Occupancy Outlook Negative
Source: City of Denton's Development Services Department.
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
0.0
20.0
40.0
60.0
80.0
100.0
120.0
140.0
160.0
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
1Q
'20
2Q
'20
3Q
'20
4Q
'20
1Q
'21
2Q
'21
3Q
'21
4Q
'21
1Q
'22
2Q
'22
3Q
'22
4Q
'22
1Q
'23
2Q
'23
3Q
'23
Certificates of Occupancy
Residential Permits Outlook Positive
Source: City of Denton's Development Services Department.
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.
0.0
50.0
100.0
150.0
200.0
250.0
300.0
350.0
400.0
450.0
1Q
'18
2Q
'18
3Q
'18
4Q
'18
1Q
'19
2Q
'19
3Q
'19
4Q
'19
1Q
'20
2Q
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3Q
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4Q
'20
1Q
'21
2Q
'21
3Q
'21
4Q
'21
1Q
'22
2Q
'22
3Q
'22
4Q
'22
1Q
'23
2Q
'23
3Q
'23
Residential Permits
Section 4
City of Denton
Quarterly Financial Report
June 2023
INVESTMENT REPORT
3rd Fiscal Quarter Ending June 30, 2023 Page 1
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3rd Fiscal Quarter Ending June 30, 2023 Page 5
INVESTMENT POOL
(Based on Par Value)
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CITY OF DENTON : QUARTERLY INVESTMENT REPORT
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3rd Fiscal Quarter Ending June 30, 2023 Page 6
ECONOMIC SUMMARY
Interest Rate History
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Staff Analysis
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Days to
Maturity
Page 1
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
June 30, 2023
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
Monthly Reports
YTM
365CUSIPInvestment #
Purchase
Date
Treasury Discounts -Amortizing
131TREASURY BILL4196 5,000,000.00 4,910,574.31 11/09/20234.91505/16/2023 4,906,761.65 5.192912797FJ1
146TREASURY BILL4198 10,000,000.00 9,790,733.33 11/24/20235.16005/25/2023 9,792,740.00 5.462912797FL6
131TREASURY BILL4200 10,000,000.00 9,809,136.64 11/09/20235.24506/06/2023 9,813,523.30 5.517912797FJ1
159TREASURY BILL4201 10,000,000.00 9,770,664.59 12/07/20235.19306/08/2023 9,772,840.60 5.482912797FT9
34,281,108.87 5.44534,285,865.5535,000,000.0030,309,015.79Subtotal and Average 143
Treasury Securities - Coupon
14U.S. TREASURY4146 10,000,000.00 9,992,011.34 07/15/20230.12506/02/2022 9,983,431.20 2.244912828ZY9
335U.S. TREASURY4148 10,000,000.00 9,935,574.12 05/31/20242.50006/14/2022 9,739,062.50 3.23191282CER8
45U.S. TREASURY4151 20,000,000.00 19,988,085.47 08/15/20232.50006/22/2022 19,933,780.40 2.993912828VS6
229U.S. TREASURY4153 10,000,000.00 9,975,374.43 02/15/20242.75006/22/2022 9,836,718.80 3.155912828B66
122U.S. TREASURY4154 10,000,000.00 9,995,137.12 10/31/20232.87506/28/2022 9,919,140.60 3.0239128285K2
152U.S. TREASURY4155 10,000,000.00 9,993,719.95 11/30/20232.87506/28/2022 9,898,046.90 3.0299128285P1
229U.S. TREASURY4156 20,000,000.00 19,961,941.22 02/15/20242.75006/28/2022 19,673,437.60 3.063912828B66
304U.S. TREASURY4157 10,000,000.00 9,950,520.83 04/30/20242.50006/28/2022 9,760,156.20 3.11591282CEK3
243U.S. TREASURY4159 10,000,000.00 9,957,342.14 02/29/20242.37507/26/2022 9,801,562.50 3.0359128286G0
411U.S. TREASURY4160 10,000,000.00 9,929,880.99 08/15/20242.37507/26/2022 9,673,437.50 3.022912828D56
396U.S. TREASURY4165 10,000,000.00 9,883,072.56 07/31/20242.12508/10/2022 9,655,468.80 3.2489128282N9
411U.S. TREASURY4166 10,000,000.00 9,905,547.83 08/15/20242.37508/10/2022 9,673,437.50 3.249912828D56
229U.S. TREASURY4168 20,000,000.00 19,930,534.57 02/15/20242.75008/18/2022 19,673,437.60 3.323912828B66
396U.S. TREASURY4169 5,000,000.00 4,982,101.38 07/31/20243.00008/18/2022 4,872,851.55 3.34391282CFA4
229U.S. TREASURY4175 10,000,000.00 9,897,092.54 02/15/20242.75010/11/2022 9,836,718.80 4.459912828B66
229U.S. TREASURY4177 10,000,000.00 9,897,220.19 02/15/20242.75010/13/2022 9,836,718.80 4.457912828B66
503U.S. TREASURY4180 10,000,000.00 9,698,794.48 11/15/20242.25011/03/2022 9,601,953.10 4.567912828G38
396U.S. TREASURY4182 10,000,000.00 9,844,319.33 07/31/20243.00011/16/2022 9,745,703.10 4.50591282CFA4
319U.S. TREASURY4188 10,000,000.00 9,789,755.99 05/15/20242.50002/16/2023 9,750,390.60 5.010912828WJ5
76U.S. TREASURY4189 10,000,000.00 9,902,172.62 09/15/20230.12502/17/2023 9,897,887.90 4.97891282CAK7
45U.S. TREASURY4190 10,000,000.00 9,941,569.92 08/15/20230.12502/17/2023 9,939,415.50 4.94091282CAF8
233,351,769.02 3.558230,702,757.45235,000,000.00237,902,186.92Subtotal and Average 238
Federal Agency Issues - Coupon
51FFCB401310,000,000.00 9,999,972.22 08/21/20232.57002/21/2019 9,960,798.30 2.5723133EKAU0
345FFCB414910,000,000.00 9,942,379.92 06/10/20242.62506/16/2022 9,743,456.30 3.2623133ENYH7
249FFCB417215,000,000.00 14,994,078.69 03/06/20243.62509/06/2022 14,813,816.10 3.6853133ENK33
474FFCB41784,575,000.00 4,561,890.79 10/17/20244.37510/25/2022 4,502,526.05 4.6093133ENS43
300FFCB418710,000,000.00 9,997,377.78 04/26/20244.75001/26/2023 9,936,999.60 4.7893133EN7D6
618FFCB419315,000,000.00 14,982,453.19 03/10/20255.00003/10/2023 14,964,629.10 5.0743133EPCW3
69FHLB415220,000,000.00 19,973,876.15 09/08/20232.37506/22/2022 19,884,188.20 3.0943130A3DL5
Portfolio CITY
APData Updated: SET_MO: 07/12/2023 10:26
Run Date: 07/12/2023 - 10:26 PM (PRF_PM2) 7.3.11
Report Ver. 7.3.11
Days to
Maturity
Page 2
Par Value Book Value
Maturity
Date
Stated
RateMarket Value
June 30, 2023
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
Monthly Reports
YTM
365CUSIPInvestment #
Purchase
Date
Federal Agency Issues - Coupon
160FHLB415810,000,000.00 10,010,577.80 12/08/20233.37506/30/2022 9,917,165.50 3.1243130A0F70
251FHLB416110,000,000.00 10,013,071.48 03/08/20243.25007/26/2022 9,852,629.80 3.0523130A0XE5
34FHLB416410,000,000.00 9,997,855.00 08/04/20233.00008/04/2022 9,977,825.80 3.2403130ASV55
160FHLB416720,000,000.00 20,005,521.61 12/08/20233.37508/16/2022 19,834,331.00 3.3073130A0F70
440FHLB417010,000,000.00 9,974,221.25 09/13/20243.25008/29/2022 9,750,350.50 3.4743130AFBC0
349FHLB417110,000,000.00 9,965,905.27 06/14/20243.12508/29/2022 9,812,287.30 3.4963130ASHK8
76FHLB417410,000,000.00 9,994,633.80 09/15/20233.87509/16/2022 9,962,530.40 4.1443130ATDJ3
188FHLB418510,000,000.00 9,994,714.96 01/05/20244.75001/05/2023 9,970,335.40 4.8573130AUFY5
219FHLB418610,000,000.00 9,998,847.69 02/05/20244.85001/05/2023 9,971,405.80 4.8743130AUFF6
312FHLB419510,000,000.00 9,996,708.28 05/08/20244.87505/08/2023 9,946,999.90 4.9153130AVVW9
9FNMA41475,000,000.00 4,997,405.98 07/10/20230.25006/08/2022 4,993,206.30 2.3643135G05G4
199,401,491.86 3.759197,795,481.35199,575,000.00201,088,259.90Subtotal and Average 236
Federal Agency Issues - Callable
541FHLB419910,000,000.00 9,461,696.23 12/23/20241.20006/06/2023 9,408,657.50 5.0313130AQ4B6
9,461,696.23 5.0319,408,657.5010,000,000.007,874,628.37Subtotal and Average 541
Commercial Paper Disc. - Amortizing
41JP MORGAN SECURITIES LLC4181 5,000,000.00 4,971,243.06 08/11/20235.05011/16/2022 4,969,445.00 5.34546640QVB4
254JP MORGAN SECURITIES LLC4202 25,000,000.00 24,047,500.00 03/11/20245.40006/16/2023 23,991,500.00 5.70546640PCB7
2RBC417610,000,000.00 9,997,416.67 07/03/20234.65010/11/2022 9,995,790.00 4.91778009BU34
52RBC41837,500,000.00 7,443,125.00 08/22/20235.25011/25/2022 7,442,340.00 5.56578009BVN9
116TOYOTA MOTOR CREDIT4191 20,000,000.00 19,664,888.89 10/25/20235.20002/22/2023 19,648,800.00 5.49489233HXR0
144TOYOTA MOTOR CREDIT4192 10,000,000.00 9,790,000.00 11/22/20235.25003/01/2023 9,779,760.00 5.60789233HYN8
132TOYOTA MOTOR CREDIT4197 5,000,000.00 4,905,400.00 11/10/20235.16005/16/2023 4,899,510.00 5.48889233HYA6
80,819,573.62 5.49680,727,145.0082,500,000.0080,655,570.02Subtotal and Average 137
Local Govt Investment Pools
1LOCAL GOVT INV POOL - TEXPOOL3996 70,000,000.00 70,000,000.00 5.09170,000,000.00 5.091SYS3996
1LOCAL GOVT INV POOL - TEXSTAR3641 40,000,000.00 40,000,000.00 5.09940,000,000.00 5.099SYS3641
110,000,000.00 5.094110,000,000.00110,000,000.00121,166,666.67Subtotal and Average 1
Demand Deposits
1DEMAND DEPOSITS - WELLS FARGO3706 5,699,507.46 5,699,507.46 1.6505,699,507.46 1.650SYS3706
1DEMAND DEPOSITS - WELLS FARGO4082 0.00 0.0010/01/2022 0.00 0.000SYS4082
1DEMAND DEPOSITS - WELLS FARGO4104 13,964,687.30 13,964,687.30 1.65013,964,687.30 1.650SYS4104
19,664,194.76 1.65019,664,194.7619,664,194.7628,539,184.14Subtotal and Average 1
Portfolio CITY
APData Updated: SET_MO: 07/12/2023 10:26
Run Date: 07/12/2023 - 10:26 PM (PRF_PM2) 7.3.11
Days to
Maturity
Page 3
Par Value Book Value
Stated
RateMarket Value
June 30, 2023
Portfolio Details - Investments
Average
BalanceIssuer
Portfolio Management
Monthly Reports
YTM
365CUSIPInvestment #
Purchase
Date
4.150707,535,511.81 691,739,194.76 180682,584,101.61 686,979,834.36Total and Average
Portfolio CITY
APData Updated: SET_MO: 07/12/2023 10:26
Run Date: 07/12/2023 - 10:26 PM (PRF_PM2) 7.3.11
Days to
Maturity
Page 4
Par Value Book Value
Stated
RateMarket Value
June 30, 2023
Portfolio Details - Cash
Average
BalanceIssuer
Portfolio Management
Monthly Reports
YTM
365CUSIPInvestment #
Purchase
Date
0.00
4.150707,535,511.81 691,739,194.76 180
0Average Balance
682,584,101.61 686,979,834.36Total Cash and Investments
Portfolio CITY
APData Updated: SET_MO: 07/12/2023 10:26
Run Date: 07/12/2023 - 10:26 PM (PRF_PM2) 7.3.11