HomeMy WebLinkAbout2017-088 2016-17 4th Quarter Financial ReportDate: December 15, 2017
INFORMAL STAFF REPORT
TO MAYOR AND CITY COUNCIL
SUBJECT:
Quarterly Financial Report for the period ending September 30, 2017
BACKGROUND:
Report Na 2017-088
Attached for your review is the Quarterly Financial Report for the period ending September 30,
2017. If you have any questions or need additional information, please let me know.
ATTACHMENTS:
Quarterly Financial Report as of September 30, 2017
STAFF CONTACT:
Chuck Springer, Director of Finance
(940) 349-8260
Charles. Sprin .ger(a�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 September 30, 2017.
This report is presented in six 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 an end of year projection and a comparison to the
budget for major revenue sources and expenditure items.
3. The Revenue & Economic AnalVsis section provides additional
analysis regarding key revenue sources and economic
indicators.
4. The Quarterly Investment Report provides a summary of the
City's investment portfolio, interest earnings and a brief market
outlook.
5. The Performance Report provides Key Performance Indicators
(KPIs) for each of the goals identified in the City's strategic
plan. In addition, the progress on Key Action Steps are
highlighted.
6. The G.O. Bond Propram Report provides updates of each of
the Bond Propositions from the 2012 and 2014 bond elections.
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.
C �.�.�1 �-����,
Chuck Springer
Director of Finance
215 East McKinney Street
Denton, TX 76201
940-349-8260
Section
City of Denton
Quarterly
Financial Report
September 2017
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Section
City of Denton
Quarterly Financial Report
September 2017
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.
F I NAN C IAL S U M MARY
City of Denton
General Fund
Schedule of Revenues - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
REVF.NUF, DF,SCRIPTION
Current Year - Ad Valorem
Delinquent - Ad Valorem
Miscellaneous Penalties & Fees
Ad Valorem Taxes
PRIOR ANNUAL PRELIMINARY BUDGET VS
Y-T-D BUDGF,T ACTUAI,S ACTUALS
$ 39,882,138 $ 42,506,508 $ 43,191,856 2%
145,600 277,443 192,136 -31%
298,468 362,184 334,007 -8%
40,326,206 43,146,135 43,717,999 1%
Sales Tax 32,624,298 32,835,370 36,841,138 12%
Franchise - Gas Utilities 561,852 485,262 485,262 0%
Franchise - Private Electric Utilities 162,124 138,651 138,651 0%
Franchise - Cable 638,316 546,133 546,133 0%
Franchise - Telecom 295,640 248,970 248,970 0%
Franchise - Denton Municipal Utilities 4,570,917 4,187,833 4,187,833 0%
Franchise Fees 6,228,849 5,606,849 5,606,849 0%
Other Taxes
366,194 350,474 481,295
37%
Ambulance Service Fees
Fire Department Fees
Building Inspections Fees
Park Department Fees
Planning Department Fees
Reprographics Fees
Miscellaneous Service Fees
Service Fees
Denton Municipal Fines 1,587,798 1,854,494 1,S11,ll2 -l9%
Parldng Fines 296,725 193,650 254,705 32%
Miscellaneous Fines and Fees 946,060 1,040,653 898,333 -14%
Court Administrative and Service Fees 937,212 1,020,445 977,287 -4%
Fines and Fees 3,767,795 4,109,242 3,641,437 -ll %
3,596,833 3,470,290 3,676,916
173,579 191,427 151,702
551,137 505,723 505,954
1,770,435 2,319,956 1,892,754
1,138,764 871,440 965,972
354,920 468,428 349,048
113,380 107,573 118,306
7,699,048 7,934,837 7,660,652
6%
-21 %
0%
-18%
11%
-25%
10%
-3 %
Demolition Permits 7,220 9,884 5,890 -40%
Building Permits 2,977,064 2,821,470 2,897,518 3"/0
Certificate of Occupancy 76,010 90,854 74,290 -18%
Miscellaneous Licenses and Permits 45,868 42,708 47,153 ]0%
Licenses and Permits 3,106,] 62 2,964,9] 6 3,024,85] 2"/0
Investment Income
Miscellaneous Revenues
Miscellaneous Resources
293,617 271,541 371,305
1,309,498 1,311,568 1,601,350
1,603,ll 5 1,583,] 09 1,972,655
37%
22 %
25%
ROI - Denton Municipal Utilities
Transfers
Transfers
7,017,9] 6 7,722,165 7,506,36]
8,157,673 8,081,468 8,066,694
15,175,589 15,803,633 15,573,055
-3 %
0%
-1 %
Total General Fund Revenues $ 110,897,256 $ ll4,334,565 $ ll8,519,931 4%
City of Denton
General Fund
Schedule of Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
NEiGHAORHOOD SF,RViCES
Building InspecHons
Community Improvement Services
Libraries
Parks and Recreation
Planning
Gas Well Review
Social Services
PUBLICSAFETY
Animal Services
Fire
Municipal Court
Municipal Jud�e
Police
TRANSPORTATION
Traffic Operations
Transportation Operations
Street LighHng
PRIOR ANNUAL PRELIMINARY BUDGET VS
Y-T-D BUDGET ACTUALS ACTUALS
$ 2,805,777 $ 2,971,8ll 2,858,490 -4%
1,732,141 1,857,104 1,629,488 -12%
5,694,824 5,900,271 5,737,762 -3%
12,071,357 13,529,169 12,496,423 -8%
2,982,785 3,348,526 3,068,236 -8%
295,456 402,389 168,703 -58%
519,252 592,458 567,064 -4%
26,101,592 28,601,728 26,520,166 -7%
1,453,306 7,499,776 1,407,977 -6%
25,622,460 27,475,440 26,798,825 -2%
1,347,489 1,385,603 1,290,483 -7%
367,801 436,068 381,877 -12%
27,500,545 29,856,911 29,241,452 -2%
56,291,601 60,653,798 59,120,614 -3%
1,951,674 2,084,963 1,931,432
428,898 491,286 478,853
721y56 735,000 787,441
3,102,528 3,311,249 3,197,726
ADMINISTRATIVE & COMMUNITY SERVICES
Cable Television 305,959 331,111 301,806
City Manager's Office 3,158,762 2,926,197 2,661,177
Economic Development 3,027,135 3,537,603 3,829,541
Facilities Management 3,697,923 4,026,387 4,011,320
Finance 2,804,174 2,881,060 2,811,696
Human Resources 1,765,545 1,706,585 1,580,740
[nternal Audit 52,384 175,000 137,540
Legal Administration 2,156,665 2,302,138 2,096,888
Public Communications Office 658,295 472,214 457,378
Reprographics 445,765 470,320 425,021
Non-Departmental 6,524,247 7,618,713 8,280,S17
24,596,854 26,447,328 26,593,624
TOTAL EXPENDITURES $ 110,092,575 $ 119,014,103 ll5,432,130
-7 %
-3 %
7%
-3 %
-9%
-9 %
8%
0%
-2 %
-7 %
-21 %
-9 %
-3%
-10%
9%
1%
-3 %
City of Denton
Electric Fund
Schedule of Revenues and Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
DESCRIPTION
Beginning Worldng Capital
and Reserves as of 9/30/16
REVENUES:
Operating Revenues
Non-operating Revenues
Total Revenues
EXPENDITURES:
Purchased Power
Operation and Maintenance
Return on Investment
Franchise Fee
Non-Operating Expenditures
Total Expenditures
Net Income (Loss)
Ending Worlang Capital and Reserves
PRIOR ANNUAL PRELIMINARY BUDGET VS
Y-T-D BUDGET� ACTUALS ACTUALS
$ 68,175,554 $ 75,996,851
$ 166,448,466 176,682,489 171,878,163
6,441,443 300,000 757,187
172,889,909 176,982,489 172,635,350
78,026,425 98,369,586 93,060,897
33,925,073 44,366,611 34,743,582
4,992,005 5,506,335 5,405,518
7,125,480 7,866,192 7,717,675
29,107,O11 30,299,596 29,190,204
153,175,994 186,408,320 170,1 l 7,876
$ 19,713,915 (9,425,831) 2,517,474
$ 58,749,723 $ 78,514,325
-3 °/a
152%
-2 %
-5%
-22 %
-2 %
-2 %
-4 %
-9 %
' Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY
2016-17 budget process.
City of Denton
Water Fund
Schedule of Revenues and Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
DESCRIPTION
Beginning Worldng Capital
and Reserves as of 09/30/16'
REVENUES:
Water Sales Residential
Water Sales Commercial
Water for Resale
Other Water
Transfers In
Investment Income
Impact Fee Revenue
Total Revenues
PRiOR ANNUAL PRELIMiNARY
Y-T-D BUDGETZ ACTUALS
BUDGET VS
ACTUALS
EXPENDITURES:
Personal Service
Purchased Power
Matcrials and Supplies
Maintenance and Repairs
Insurance
Miscellaneous
Operations, Services
Capital Outlay3
Return on Investment
Franchise Fee
Debt Service
Transfers Out
Total Expenditures
Net Income (Loss)
Ending Working Capital
and Reserves
$ 25,598,287 $ 24,150,381
$ 16,705,733 $ 19,449,831 $ 17,504,928
15,481,755 17,335,218 15,707,766
616,588 548,878 1,301,603
1,183,685 794,235 1,374,788
13,016,449 6,507,009 5,476,269
99,325 148,000 223,638
4,000,000 4,000,000 4,000,000
51,103,535 48,783,171 45,588,992
9,563,805 11,555,215 9,587,107
],295,] 89 1,687,487 1,221,663
1,478,542 1,859,581 1,507,278
],215,538 1,563,468 1,448,707
231,299 238,949 80,817
321,074 305,115 319,185
1,732,764 2,974,173 1,897,142
8,704,026 13,258,479 12,906,384
],173,00] 1,334,486 1,213,302
1,675,715 1,882,155 1,733,289
13,447,023 11,535,170 11,195,411
3,378,672 3,588,413 3,611,755
44,216,648 51,782,691 46,722,040
$ 6,886,887 (2,999,520) (1,133,048)
$ 22,598,767 $ 23,017,333
-10%
-9 %
137%
73 %
-16%
51%
0%
-7%
-17%
-28%
-19%
-7%
-66%
5%
-36%
-3 %
-9%
-8 %
-3 %
1 °/a
-10%
� The Beginning Working Capital balance excludes $5,607,327 of Impact Fee Reserves.
2 Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY 2016-17
budget process.
3 Includes one-time transfer of $3,OU0,000 to Capital Projects using dollars related to the refunding of the Utility Revenue Bonds
in FY 2016 and the release of the rdated reserve funds.
City of Denton
Wastewater Fund
Schedule of Revenues and Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
DESCRIPTION
Beginning Working Capital
and Reserves as of 09/30/16�
REVENUES:
Residential Fees
Commercial Fees
Effluent Irrigation Fees
Wholesale Fees
Other Wastewater Fees
Drainage Fees
Transfer In
Investment Income
Impact Fee Reserves
Total Revenues
EXPENDITURES:
Personal Service
Purchased Power
Materials and Supplies
Maintenance and Repairs
Insurance
Miscellaneous
Operations, Services
Capital Out1aV3
Return on Investment
Franchise Fee
Debt Service
Transfers Out
Total Expenditures
Net Income (Loss)
Ending Working Capital
and Reserves
PRIOR ANNUAL PRELIMINARY BUDGET VS
Y-T-D BUDGETZ ACTUALS ACTUALS
$ 10,888,886 $ 11,188,269
12,000,409 11,592,297
128,609 60,413
625,894 582,400
3,103,227 1,757,866
4,509,969 4,601,201
5,309,357 875,819
88,309 119,500
2,000,000 3,520,000
38,654,660 34,297,765
$ 18,083,783 $ 18,107,040
7,387,387
1,192,928
924,844
1,219,472
247,655
45,782
1,848,210
6,563,561
852,91 l
1,218,444
7,638,539
3,267,989
32,407,722
$ 6,246,938
8,237,275
946,000
1,489,447
1,534,572
] 87,676
52,608
2,377,977
11,216,031
881,344
1,259,062
6,909,931
3,503,618
38,595,541
(4,297,776)
$ 11,655,664
12,207,762
103,593
631,996
1,894,464
4,645,817
920,819
170,898
3,520,000
35,751,013
7,279,661
986,920
1,077,202
1,182,149
28,312
49,129
1,934,437
11,207,727
887,541
1,267,915
6,815,945
3,232,592
35,949,530
(198,517)
$ 13,786,007 $ 17,908,523
4%
5%
71%
9%
8%
1%
5%
43 %
0%
4%
-12 %
4%
-28%
-23 %
-85%
-7 %
-19%
0%
1%
1%
-1 %
-8 %
-7%
' The Beginning Working Capital balancc excludes $3,285,220 of Impact Fee Reserves, $1,000,000 for Drainage Reserves,
and $135,000 for Development Plan Line Reserves.
2 Annual adopted budget as amended or modi6ed. Beginning Fund Balance represents the amount which was estimated
in the FY 2016-17 budget process.
3 Includes one-time transfer of $4,30Q000 to Capital Projects using dollars related to the refunding of the Utility Revenue Bonds
in FY 2016 and the release of the related reserve funds.
City of Denton
Drainage Operations
Schedule of Revenues and Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
DESCRIPTION
REVENUES:
Residential Drainage Fees
Nonresidential Drainage Fees
Wastewater Resources
General Fund Transfer
Total Revenues
EXPENDITURES:
Personal Service
Materials and Supplies
Maintenance and Repairs
Insurance
Miscellaneous
Operations, Services
Capital Outlay
Debt Service
Transfer Out
Total Expenditures
Net Income (Loss)
PRIOR BUDGET PRELIMINARY BUDGET VS
Y-T-D Y-T-D ACTUALS ACTUALS
1,720,485 $ 1,703,396 $ 1,762,980 3%
2,789,484 2,897,805 2,882,837 -1%
- 18,240 13,913 -24%
500,555 501,336 501,336 0%
5,010,524 5,120,777 5,161,066 1%
$
1,633,645 1,863,953 1,453,432
59,704 86,946 45,991
61,543 148,267 82,066
24,078 19,827 2,992
15,248 16,000 16,158
480,949 581,854 341,028
1,208,061 1,133,594 1,989,444
948,470 640,740 636,372
578,826 629,596 593,583
5,010,524 5,120,777 5,161,066
$ - $ - $ -
-22%
-47%
-45%
-85%
1%
-41 %
75%
-1%
-6%
1%
City of Denton
Solid Waste Fund
Schedule of Revenues and Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
PRIOR ANNUAL PRELIMINARY BUDGET VS
DESCRIPTION Y-T-D BUDGETZ ACTUALS ACTUALS
Beginning Working Capital
and Reserves as of 09/30/161
REVENUES:
Garbage Fees - Residential
Garbage Fees - Commercial
Landfill Fees
Materials Processing and Mining
Recycling and Public Outreach
Site Operations
Other Revenue
Investment Income
Total Revenues
EXPENDITURES:
Personal Service
Materials and Supplies
Maintenance and Repairs
Insurance
Miscellaneous
Operations, Services
Capital Outlay
Debt Service
Franchise Fee
Landfill Closure3
Transfer Out
Total Expenditures
Net Income (Loss)
Ending Working Capital
and Reserves
$ 6,044,618 $ 7,757,121
$ 10,544,051 11,121,950 11,173,109
14,173,498 15,436,305 14,884,430
5,175,524 6,695,086 6,249,179
108,922 968,364 131,253
855,009 851,165 872,049
186,744 247,025 208,259
1,797,730 1,525,980 613,664
19,207 4,500 29,830
32,860,685 36,850,375 34,161,773
9,811,579 l 1,397,800 l 0,423,461
540,001 577,277 401,553
552,344 615,715 409,889
194,245 224,503 94,952
63,193 81,750 62,659
5,976,483 7,832,621 6,123,676
2,212,053 3,172,300 1,914,843
7,325,342 8,140,351 8,059,193
1,576,873 1,808,587 1,687,618
398,073 265,541 1,198,301
2,540,427 2,698,020 2,580,719
31,190,613 36,814,465 32,956,864
$ 1,670,072 35,910 1,204,909
$ 6,080,528 $ 8,962,030
0%
-4 %
-7%
-86%
2%
-16%
-60%
563%
-7%
-9%
-30%
-33%
-58%
-23%
-22%
-40%
-1 %
-7%
351%
-4 %
-10%
� The Beginning Working Capital Reserve excludes $7,378,027 Landfill Closure/Post Closure Reserves.
� Annual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY 2016-
17 budgct process.
3Landfill Closure expense is greater than budget becaase a revalaation of the Land�ll Closure/Post Closure liability during the year.
City of Denton
Airport Fund
Schedule of Revenues and Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
PRIOR ANNUAL PRELIMINARY BUDGET VS
DESCRiPTiON Y-T-D BUDGET� ACTUALS ACTUALS
Beginning Working Capital
and Reserves as of 09/30/16 $ 2,449,840 $ 2,482,155
OPERATING REVENUES:
Airport Ground Leases
FBO Commissions
Miscellaneous
Total Operating Revenues
$ 449,114 704,000 584,700
178,086 240,000 208,931
78,564 55,000 95,524
705,764 999,000 889,155
-17%
-13 %
74%
-11 %
OPERATING EXPENDITURES:
Personal Service
Materials and Supplies
Maintenance and Repairs
insurance
Miscellaneous
Operations
Transfers Out - Operating
Franchise Fee
Total Operating Expenses
Operating (Loss)
NON-OPERATING REVENUES:
investment Income
Gas Well Royalties
Total Non-Operating Revenues
NON-OPERATING EXPENDITURES:
Debt Service�
Transfers Out - Capital
Total Non-Operating Expenses
Non-Opeeating In¢ome (Loss)
Net Income (Loss)
Ending Working Capital
633,513 668,509 519,113
41,503 46,725 26,196
73,645 82,593 56,987
22,358 21,604 7,025
1,024 1,200 1,024
220,814 255,62] 190,26'7
455,112 473,114 470,222
35,268 - -
1,483,237 1,549,366 ],270,834
(777,473) (550,366) (38],679)
27,980 25,000 42,244
478,310 450,000 606,518
506,290 475,000 648,762
475,835 - -
169,835 - -
645,670 - -
(139,380) 495,000 648,762
$ �9i6,as3� ��s,s66� 26�,oss
$ 2,374,474 $ 2,749,238
-22 %
-44%
-31 %
-67%
-15%
-26%
-1 %
0%
-18%
69%
35%
37%
0%
0%
0%
� Annual adopted budget as amended or modified. Beginning Working Capital and Reserves represents the amount which was
estimated in the FY 2016-17 budget process.
� Airport debt balances were moved to the general government in FY 2016-17 with the related debt service expenditures being paid from the Debt Service Fund.
City of Denton
Street Improvement Fund
Schedule of Expenditures - Budget vs Actuals (Unaudited)
For the Period Ended September 30, 2017
DESCRiPTION
Beginning Fund Balance
as of 9/30/2016
RESOURCES:
Franchise Fees
Street Cuts
Intergovernmental
Investment Income
Transfers In
Miscellaneous
Total Resources
EXPENDITURES:
Personal Service
Materials and Supplies
Maintenance and Repairs
Insurance
Miscellaneous
Operations, Services
Transfer Out
Fixed Assets
Total Expenditures
Net Inoome (Loss)
Ending Fund Balance
PRIOR
Y-T-D
$ 9,412,250
246,515
20,534
1,027,435
10,706,734
2,647,046
91,886
5,097,476
50,417
4,253
652,287
1,752,969
10,296,334
$ 410,400
ANNUAL PRELIMINARY BUDGET VS
BUDGET� ACTUALS ACTUALS
$ 1,521,965 $ 1,798,625
ll,608,420 10,673,762
350,000 240,099
200,794
10,000 14,294
997,363 1,023,161
- 76,668
12,965,783 12,228,778
-8%
-31 %
43%
3%
-6%
3,637,896 2,951,195
82,] 50 107,616
7,953,085 8,600,740
43,022 8,649
5,000 3,609
635,307 748,540
964,323 803,803
- 96,631
13,320,783 13,320,783
�355,000) (1,092,005)
$ 1,166,965 $ 706,620
-19%
31%
8%
-80%
-28%
18%
-17%
0%
iAnnual adopted budget as amended or modified. Beginning Fund Balance represents the amount which was estimated in the FY 2016-17 budget process.
City of Denton
Grants
Schedule of Expenses - Budget vs Preliminary Actuals (Unaudited)
For the Period Ended September 30, 2017
GRANT DESCRIPTION
FY 2016-17 Budget
US Dept of HUD -
Community Development Block Grant(CDBG)
US Dept of HUD -
HOME Investment Partnership Program
Community Development
TxDot STEP Comprehensive Grant
2016 Byrne JAG Grant
2015 UASI
2016 UASI
Emergency Management Performance Grant
2015 Tobacco Enforcement Grant
Public Safety
Summer Food Grant�
TxDot NW Trail Extension Grant
Parks and Recreations
Airport Maintenance (RAMP) Grant
Airport West Side Runway Grant
Airport
Texas Emission Reduction Plan Rebatc Grant
CNG Fueling Station #13
NCTCOG High Speed Grinder
NCTCOG Low Speed Grinder
NCTCOG 2016 Chevrolet Traverse #2
Solid Waste
TxDot US 380 Projects
Transportation
Interlibrary Loan Program (ILL)
Other
Total FY 2016-17 Budget
New Awards
Emergency Solutions Grant
Community Development
2015 UASI
Federal Equitable Sharing
Chapter 59 Asset Forfeitures
U.S. Marshals Violent Offenders Task Force
PD-Law Enforcement Officer Standards & Education
Fire-Law Enforcement Officer Standards & Education
Public Safety
NCTCOG High Speed Grinder
NCTCOG Regional HHW Drop-Off Facility Project
Solid Waste
EXPENDITURES ANNUAL PRELIMINIARY BUDGET VS
AS OF 9/30/2016' BUDGET ACTUALS ACTUALS
$ 2,124,054 $ 1,284,350 $ 651,300
2,485,405 857,710 330,979
4,609,459 2,142,060 982,279
51%
39%
46%
- 74,560 69,397 93%
- 25,000 19,398 78%
- 83,000 83,000 100%
- 130,000 - 0%
- 46,825 43,956 94%
- 12,000 7,350 61%
371,385 223,101 60%
- 200,000 - 0%
- 1,314,781 999,870 76%
- 1,514,781 999,870 66%
- 50�000 50�000 100%
- 5,950,000 677,263 ll%
- 6,000,000 727,263 12%
- ll2,667 112,667 100%
- 600,000 - 0%
- 50�000 50�000 100%
- 150,000 150,000 100%
- 33,000 32,415 98'%
- 945,667 345,082 36'%
- 155,844 155,844 100%
- 155,844 155,844 100%
- 25,000 20,246 81%
- 25,000 20,246 81%
4,609,459 11,154,737 3,453,685 31'%
- 133,832 117,3ll 88%
133,832 117,311 88%
- 44,672 44,672 100%
- 23,467 23,467 100%
- 89,566 89,566 100%
- 28,000 28,000 100%
- 12,108 12,108 100%
- 2,858 2,858 100%
200�671 200�671 100%
81,694 81,694 100%
- 162,000 155,796 96%
243,694 237,490 97%
City of Denton
Grants
Schedule of Expenses - Budget vs Preliminary Actuals (Unaudited)
For the Period Ended September 30, 2017
GRANT DESCRIPTION
EXPENDITURES ANNUAL PRELIMINIARY
AS OF 9/30/2016' BUDGET ACTUALS
BUDGET VS
ACTUALS
County-Traffic Signal-US 380-Cindy Lane
NT Blvd Bridge Enhancement-35E
TxDot-IH35E at Loop 288/Lillian Miller Pkwy
TxDot-RTR-McKinney (Formerly FM426)4
TxDot-Hickory Creek
TxDot-N TX Blvd Roundabout
TxDot-RTR-Mayhill Rd-IH35 E to US 380
TxDot-RTR-Bonnie Brae Rd-IH35 E to US 377
TxDot-RTR-ITS COMM Trunk Line
Transportation
Farmers Market Grant
TIFMAS-Confined Space Training Tuition
TIFMAS-Rope Rescue I Training Tuition
TIFMAS-Rope Rescue II Training Tuition
TIFMAS-Strategy Tactics Training Tuition
TIFMAS-Vehicle Rescue Tech Training Tuition
TIFMAS-Swift Water Rescue Training Tuition
National Urban Search & Rescue Response System
Ambulance Services-Uncompensated Care Cost
TEMAT-Hurricane Harvey
Other
Total New Awards
TOTALS
- 250,000 218,296
- 303,914 303,914
- 53,865 -
- 18,267,303 138
- 2,400,000 2,294
- 2�000���� 11�80$
11,438,659 33,897,794 2,765,024
6,428,246 39,723,105 2,266,263
225,305 1,346,295 28,067
18,092,210 98,242,276 5,595,801
57,831 15,059 15,059
- 750 750
- 750 750
- 1,125 1,125
- 1,000 1,000
- 2,345 2,345
- 1,920 1,920
- 437,829 437,829
- 958,281 958,281
134,237 134,237
57,831 1,553,296 1,553,296
18,150,041 100,373,769 7,704,569
$ 22,759,500 $ 111,528,506 $ 11,158,254
i A portion of the grants presented cover multiple years.
� The City has decided to let a non-profit operate the Summer Food Program.
3 The City has decided to withdraw from constructing a Public CNG fueling facIIity, and the first reimburscment in the amount of
$201,367.87 from TCEQ was returned on September 14, 2017.
4 Advance Funding received in April 2017.
87%
100%
0%
0%
0%
1%
8%
6%
2%
6%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
g%
10%
Section
City of Denton
Quarterly
Financial Report
September 2017
REVENUE & ECONOMIC
ANALYSIS
Revenue & Economic Analysis
Summary
The data included in this section provides information on local, state
and national trends impacting the City's financial position.
The following notes are provided to facilitate this section's readability.
1. Positive Outlook — Represents favorable conditions for the local
economy. Color code — Green.
2. Cautious Outlook — Represents changing conditions that
require close monitoring. Color code — Yellow.
3. Negative Outlook — Represents unfavorable conditions for the
local economy. Color code — Red.
The data included in this section have been obtained from a variety of
sources. Sales tax and construction related data have been obtained
from internal city departments. Economic data for the State have
been obtained from the Federal Reserve Bank of Dallas and may be
subject to availability. National economic data were compiled with
assistance from the City's investment advisor, First Southwest Asset
Management.
National Economic Trends
Period Ending September 30, 2017
Gross Domestic Product (GDP�
Grass Domestic Product
Quartedy Annualized Perceniage Change
Source Bureau of Economic Niatysis � 6bom6erg
Nonfarm Payrolls
Il nem ployment RdtB � LBk Hd nd SC910]
s.v
r297 291
s.a
5.6
a.a
3.6
2.a
1.0
o.a
-1.0
-z.o
8.5
a.o 1T6
7.5
za
s.s
6.0 �s.s
5.v
a,s
Change in Hon-Farm Payrolls {Right Xand Scale}
Y 350
249 232
■ zts �
1fi4 155
124 � �
2a�
2,0 2�a
164
145 138 ��
� I 33 50
Y V] O 2 q T i T g Y V]
? c m � s F R ? � : � � ? m �
� °' m m �' w w v =i � " ., v " � �
4.9 4.9 4.4 4.9
a a a.e 4-1 a.a a.7
4.5 q 4 4.3 4"4 4.3 4.4
a.z
a.v �
�Chan� in NpMarm Payrds +Unemploymenl Ra[e
sarce su�eau os �aoor sre��st�cs + eaomoe�q
50
-150
� -2sa
� -350
FirstSvuthwest
AssetManagement
A H�Iltop Ho�dings Company_
The third quarter GDP (subject to revision) grew
at a surprisingly solid +3.0% annualized rate,
above the +2.6% median forecast and just below
the +3.1 % Q2 reading. It was the best back-to-
back quarterly performance in three years.
Consumer spending, the primary engine of U.S.
GDP growth, slowed from +3.3% to +2.4%, but
other lessor components combined to make up the
difference. Most analysts had expected a hurricane
slowdown in the third quarter followed by higher
growth in subsequent periods. Although the
slowdown wasn't apparent last quarter, future
rebuilding should still provide a nice boost to the
economy in the coming months. GDPNow was
tracking early Q4 growth at +2.7% on October
25t''� The latest Bloomberg economist survey
indicates average annual GDP growth of between
+2.0% and +2.4% for the next �ve quarters.
There's upside potential to all of these forecasts.
Business payrolls fell by -33k in September, the
first outright decline in 84 months. As expected,
the Bureau of Labor Statistics reported that "many
employees in the areas affected by the hurricanes
were likely off payrolls during the reference
period." The September year-over-year earnings
growth rate increased from +2.5% to +2.9%,
equaling an eight-year high. Although this sharp
rise suggests labor market tightness is creating
wage pressure, the cause was primarily a result of
low-earning restaurant and bar workers not being
able to report for work during the survey period.
On the household side, the total labor force grew
by +575k while a stunning +906k found work.
Unlike in the company survey, the BLS cited "no
discernable effect" from the hurricanes in the
household survey. This surprisingly strong
employment growth pushed headline
unemployment from 4.4% to a 16-year low of
4.2%.
� o g � N o g = w �v g � v�
$ q � � q � � q � �
A A U CJ� Ch Ch O1 01 Q� 6� V V y
Inflation
3.0
2.s
z.o
1.5
,.a
o.s
o.a , , .
z.s
z.o
1.5
i.o
4.5
4.0
•o-.s • ! -0.s
.,.0 1.,.0
� � � � P m a m G � � � � � � � P � � m c ; m �
�" N c'n m'w w� m W O1 ao ao � m m �-e =+ -' :� � �=e �
sw�:e m.eao r ww sumxs areai crEcua=: �v�ms � i�oo-ae.v
Retail Sales
7.D
s.o
s.o
a.o
3.0
z.o
,.o
o.o
-i.v
Re[ail5ales 96 Change
� Rei �:i sa�es r-�. �. ti� i �er i ia�d sixier
-Relai15alesY.O.Y �Rr�[Nan65cale�
T.D
s.a
5.D
4.0
3.0
z.o
i.v
a.o
-i.o
•7.0 •z.fl
� o � � � � .2 o a �i � � � � a �i � _ �
� - ,� � - � -
A A N L� � � LM1 (h 01 p� '� � � � � V V � y
5o�rce �S Ce�,�s 6�ma�: 6loanberg
Inflation, or the lack of inflation, will continue to
be a focus for the Fed as it debates interest rate
policy going forward. The Fed would like to see
inflation grow closer to +2.0% on an annual basis.
The consumer price index (CPI) rose +0.5% in
September, while core CPI gained +0.1 %. Higher
storm-related gasoline prices drove 75% of the
large headline change. On a year-over-year basis,
overall consumer inflation increased from +1.9%
to +2.2%, while core CPI remained anchored at
+1.7% for the fifth straight month. Prices on
services are driving the modest increase in the
core rate, while prices on goods are actually
falling. The -1.0% year-over-year drop in goods
prices was the steepest in 13+ years. The PCE
core slipped further, falling from +1.4% in July to
+1.3% in August, extending the downtrend after
peaking at +1.9% in Jan & Feb.
Retail sales rose +1.6% in September, the
biggest advance since March 2015. However, the
gain was storm-related with oversized increases
in (replacement) vehicles, building materials and
gasoline station sales. There are few signs that
underlying spending patterns have improved
despite consumer confidence measures near a
16-year high. After falling all summer, auto
sales rocketed to a 12-year high in September.
An estimated one million vehicles were
reportedly destroyed by Hurricanes Harvey and
Irma, so some of the sales surge can be attributed
to replacement activity. Pricing discounts and
incentives offered by manufacturers in an effort
to reduce bloated auto inventories earlier in the
month were also a driver of sales. Any
significant future tax cut could boost short-term
spending as confidence finally translates into
discretionary purchases.
Inflatian �ndicators jYear-Over•Year Percent Changej
�CPI tCPi-Core —rPC@ Cwe _ � Q
Texas Home Sales
,� . .
�c•
27 � •
��� -
z2s—
x� r��
5: . �
�`�.� �
.. - �i
rexas+oenson �ry Hame safes (Ns,a}
:�:�
�
Y
Texas home sales fell by -6.1% from the second
to the third quarter, and slipped by -0.3% on a
year-over-year basis. The year-over-year decline
was the first since 2009. It isn't clear whether the
drop was related more to Hurricane Harvey or
persistently lean home inventories. The average
Texas home price in September was $271.5k, a
+4.8% increase over the previous year, but down
from the high of $286.8k just three months
earlier. In Denton County during the third
quarter, unit home sales rose +1.5% over the
same period a year ago. The average home price
in September was $326.9k, a+4.8% year-over-
year increase, but down from the high of $351.9k
three months ago. Total Denton county listings
in September were 3,294, roughly 20% higher
than a year ago.
�
,�
V F � 1810
�.-k' "-. _ ' , .. �
, l � . ' I . . Y . !' � is00
��. j( 1 I 1 I�
! ti f i � 1 I` l � ��
I� f 1 i 1 ! l� f Ilti �
iA + �+ yi � �l�r yr ��
`,� �,! {.,j u ij a�o
7 �
�
_����, �
_.-o�m�aywmsdK "'
—�,«r���.n�
—4nw[�mnC6'w�e4ynf �°0
zs i
00� � � m � m � x � � � � �o
4 P 4 s 4
� w� u W W a a N (n T W '� v
�,.�.�.��,�.r.,., Kb�.�..,
The paper was prepared by FirstSouthwest 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 circumstances. The statements within constitute the views of FirstSouthwest Asset
Management as of the date of the report and may differ from the views of other divisions/departments of Hilltop Securities. In addition, the views are subject
to change without notice. This paper represcnts historical information only and is not an indication of future performance.
Fuel Prices Outlook Cautious
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 2.6% increase from the prior quarter at the national level and
a 3.3% increase at the state level. Staff has rated this outlook as Cautious.
$4.00
$3.50
$3.00
$2.50
�
N
o $2.00
G
$1.50
$1.00
i
$0.50
$0.00
4Q'13
2Q'14 4Q'14 2Q'15 4Q'15 2Q'16 4Q'16 2Q'17
$10
$9
$$
$7
$6
N
i
$5 0
�
$4
$3
$Z
$1
$0
4Q'17
Source: U.S. Department of Energy
Fuel Prices
LJSales Tax -Texas Fuel Prices �US Fuel Prices
Municipal Cost Index 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 4th Quarter of 2017 shows an increase of 1.8% over the prior quarter and an increase of 7.8% over the 4th
Quarter of 2016. Staff has rated this indicator as Negative.
Municipal Cost Index
246.00
244.00
242.00
240.00
238.00
236.00
234.00
232.00
230.00
228.00
226.00
4Q'15 1Q'16 2Q'16 3Q'16 4Q'16 1Q'17 2Q'17 3Q'17 4Q'17
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 Outlook 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 accomodations; motels; a tourist home, house or court; lodginghouse; inn; roominghouse; 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 4th Quarter of FY 2017 was 4% more than budget and 7% prior year's actual. The FY 2017
revenue includes an incoming transfer of $150,000 from a canceled capital project approved in a prior fiscal year.
Staff has rated the outlook for this economic indicator as Positive.
Occupancy Tax Revenue:
FY 2016-17 Budget
Over(Under)Budget
4th Quarter
Actual
$ 634,856
$ 609,991
$ 24,865
FY 2016-17
Y-T-D
$ 2,547,213
$ 2,324,214
$ 222,999
Hotel Occupancy Tax Budget:
End of Year Projection:
End of Year Actual:
Variance - Actual to Budget
Variance - Actual to Projection
FISCAL YEAR FORECAST
$ 2,324,214
$ 2,474,214
$ 2,547,213
$ 222,999
$ 72,999
Hotel Occupancy Tax Collections
$�oo,000
S600,o00
Ssoo,000
Saoo,000
S3oo,o00
$zoo,000
S1oo,o00
So
1st Qtr 2nd Qtr 3rd Qtr
■ FY 2011-12 ■ FY 2012-13 ■ FY 2013-14 � FY 2014-15 ■ FY 2015-16
�
4th Qtr
Sales and Use Tax Analysis
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 4th Quarter of FY 2017 compared to revenues
from the prior year 4th Quarter shows a 12.93% increase, and compared to the budget shows a 12.20% increase. Staff
has rated this indicator as Positive.
Revenue: Gross Sales Tax
Municipal Operations
General Retail & Others
Comptroller Fees
Amount Retained
Total Revenue
*Expenses: Economic Incentives
Denton Crossingl
Unicorn Lakez
Rayzor Ranch3
Golden Triangle'
Total Expenses
Net Total
FY 2016-17 Budget
Over(Under) Budget
Sales Tax Budget:
Year End Projection:
Year End Actual:
Variance to Original Budget:
Variance to Year End Projection:
Economic Development Expenditure Budget:
Year End Projection:
Year End Actual:
Variance to Original Budget:
Variance to Year End Projection:
$
$
$
$
$
605,108
9,608,301
(188,567)
(184,796)
9,840,046
126,912
19,548
308,662
43,363
498,485
9,341,561
8,141,686
1,199,875
$ 1,884,628
36,369,503
(713,633)
(699,360)
$ 36,841,138
$ 538,220
74,447
1,202,007
155,389
$ 1,970,063
34,871,075
30,734,173
$ 4,136,902
$ 32,835,370
36,027,994
36.841.138
$ 4,005,768
$ 813,144
$ 2,101,197
2,088,005
$ 179,183
$ 165,991
Gross Sales Tax Collections (Millions)
510.0 �
$9.0
$8.0
$7A --
$6A �—
$SA —
$4A �
$3A —
$2.0 � '
$1.0 .�
$0.0
I _
1st Qtr
2nd Qtr
3rd Qtr
I
4th Qtr
11 FY 2012-13 Actual 11 FY 2013-14 Actual o FY 2014-15 Actual o FY 2015-16 Actual r FY 2016-17 Actual
* Economic Incentive actuals are through August 2015 with budget amount for September.
llncentive is 33% of sales taxes. For 2016-17 sales tax equaled $1,630,970.
Zlncentive is 33% of sales taxes. For 2016-17 sales tax equaled $225,597.
3lncentive is 50% of sales taxes. For 2016-17 sales tax equaled $2,404,014.
°Incentive is 50% of sales taxes. For 2016-17 sales tax equaled $310,778.
Certificates of Occupancy Outlook Positive
Description: Certificates of Occupancy (CO) are permits issued in compliance with the 2009 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, 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 increased 7.9% from the prior quarter and increased 13.6% from the
4t" Quarter of 2016. Staff has rated the outlook for this revenue indicator as Positive.
Certificates of Occupancy
so.o
�o.o
60.0
50.0
40.0
30.0
20.0
10.0
0.0
4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
'12 '13 '13 '13 '13 '14 '14 '14 '14 '15 '15 '15 '15 '16 '16 '16 '16 '17 '17 '17 '17
Source: City of Denton's Development Services Department.
Residential Permits
Outlook Positive
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 57.1% from the prior quarter and increased 37.6% from the 4tn
Quarter of 2016. Staff has rated the outlook for this revenue indicator as Positive
250.0
200.0
150.0
100.0
50.0
0.0
4Q
'12
\
Residential Permits
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q
'13 '13 '13 '13 '14 '14 '14 '14
1Q 2Q 3Q 4Q 1Q 2Q 3Q 4
'15 '15 '15 '15 '16 '16 '16 ']
� 1Q 2Q 3Q 4Q
6 '17 '17 '17 '17
Source: City of Denton's Development Services Department.
Texas Leading Indicators Index Outlook Cautious
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 an increase in the state's rate of growth. The index increased .9% from the prior quarter and
increased 2.98% from the 4t" Quarter of 2016. Staff has rated this indicator as Cautious
Texas Leading Indicators Index
140.0
135.0
130.0
125.0
i 120.0
115.0
110.0
105.0
100.0
��
3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q 1Q 3Q
'07 '08 '08 '09 '09 '10 '10 '11 '11 '12 '12 '13 '13 '14 '14 '15 '15 '16 '16 '17 '17 I
Source: Federal Reserve Bank of Dallas
Unemployment Rate Index Outlook Positive
Description: Unemployment is defined as the number or proportion of people looking for work at the prevailing
wage who are unable to find employment.
Analysis: Unemployment is an economic indicator that provides a framework for the overall condition of the
national, state and local economies. The unemployment rate for the City of Denton is at 3.2% for the 4th Quarter.
The unemployment rates for most of the other reported sectors were either down or flat from the prior quarter. As
a result of the downward trend since the high of the 1st Quarter of 2011, staff has rated the outlook for this revenue
indicator as Positive.
Unemployment Rate Index
is.o
16.0
14.0
12.0
10.0
8.0
6.0
4.0
z.o
4Q'11 2Q'12 4Q'12 2Q'13
�oDallas-Plano-Irving MD
�
� �
4Q'13 2Q'14 4Q'14
� Denton -Texas
�� �
��� � � I � i � �.
2Q'15 4Q'15 2Q'16 4Q'16 2Q'17 4Q'17
�U6 Unemployment -United States
Source: Federal Reserve Bank of Dallas, U.S. Bureau of Labor Statistics, and Texas Workforce Commission
Note: U6 unemployment includes marginally attached workers who currently are neither working nor looking for work but
indicate that they want and are available for a job and have looked for work sometime in the recent past. Discouraged
workers, a subset of the marginally attached, have given a job-market related reason for not looking currently for a job.
Persons employed part-time for economic reasons are those who want and are available for full-time work but have had to
settle for a part-time schedule.
� Q � � ,� •'�
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Section
City of Denton
Quarterly
Financial Report
September 2017
I NVESTM E NT RE PO RT
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------�
INVESTMENT POOL
Policy
Par Market Book Unrealized Max. Benchmark
;Portfolio: Value Value Value Gain/(Loss)' WqM WAM YTM Yield*
"""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""'____'
�InvestmentPool �$ 707,614,071 $ 706,581,905 $ 707,643,535 $ (1,061,630) 382 550 125% 1.00% �
�'Twelve month moving average of a one year �
;U.S. T-bill yield
% ofTotal
Par Market Book Unrealized Portfolio Policy
;Securities By Investment Type: Value Value Value Gainl(Loss)� WpM YTM (Book Value) Max.
IU.S.Treasuries 54,000,000 54,005,424 54,062A54 (56,630) 241 1.11% 7.64% 100.00%
;U.SFederalAgencies 352,756,000 351,93$910 352,831,583 (892,673) 526 122% 49.86% 100.00%
�MunicipalBonds 22,800,000 22,733,295 22,841,978 (108,683) 334 1.09% 3.23% 15.00%
;CertificatesofDeposit 151,OOQ000 151,OOQ000 151,OOq000 - 398 1.50% 21.34% 35.00%
�Commercial Paper 40,000,000 39,846,205 39,849,849 (3,644) 98 1.33% 5.63% 15.00%
;LocalGovernmentlnvestmentPools 59,924,172 59,924,172 59,924,172 - 1 1.04% 8.47% 50.00%
; Insured Cash Sweep Savings Deposits 25,000,000 25,000,000 25,000,000 - 1 1.10 % 3.53 % -
;Demand Deposits 2,133,899 2,133,899 2,133,899 - 1 0.60% 0.30% -
�TotalPortfolio �$ 707,614,071 $ 70Q581,905 $ 707,643,535 $ (1,061,630) 382 t25% 100.00% -
I'Unrealized gainl(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 Vear Ago
�Investment Pool Comparisons: 9/30/2017 6/30/2017 Difference 9/30/2016 Difference
I____________________________________________ ____________________ _____________________ _____________________ �
;ParValue ;$ 707,614,071 $ 777,553,000 $ (7Q238,929) $ 539,155,268 $ 168,455,803
;MarketValue ; $ 706,581,905 $ 776,842,268 $ (70,260,363) $ 539,975,092 $ 166,606,813
;BookValue ;$ 707,643,535 $ 777,932,515 $ (7Q289,280) $ 539,713,329 $ 167,93Q206
;Unrealized Gain(Loss) ; $ (1,061,630) $ (1,090,547) $ 28,917 $ 261,763 $ (1,323,393)
I Weighted Average Maturity 3S2 359 23 339 43
;Yield to Maturiry 125 % 1.16 % 0.09 % 0.90 % 0.35 %
; Portfolio Composition:
�U.S.Treasuries 7.64% 6.96% 0.65% 5.36% 22S%
;U.S.FederalAgencies 49.86% 44.61% 5.25% 39.91% 9.95%
IMunicipalBonds 323% 4.11% -0.88% 6.55% 3.32%
; Certificates of Deposit 21.34 % 1874 % 2.60 % 30.02 % -8.68 %
;CommercialPaper 5.63% 5.97% -3.34% 4.62% 1.01%
jLocalGovemmentlnvestmentPools 8.47% 16.39% -7.92% 1291% -4.44%
;InsuredCashSweepSavingsDeposits 3.53% 0.00% 353% 0.00% 3.53%
I Demand Deposits 0.30 % 0.22 % 0.08 % 0.63 % -0.33 %
�Bank Collateral Review**: � Institution Collateral Type Market Value Collected Balance Pledge Required Collateral Ratio �
}""""""""' """"""______"""""""""""""_______""""""""""""""""""" �
;Wells Fargo Demand Deposits IBNY Mellon U.S. Agency MBS $ 35,611,658 $ 1,805,586 > 102% 1972.30%
ILegacyTexas Bank Certificates of DeposiC" IFed Home Loan Bank Standby LOC $ 65,220,000 $ 62J65,771 > 100% 103.91 %
;Independent Bank Certificates of Deposit ;Fed Home Loan Bank Standby LOC $ 32,600,000 $ 3q542,667 > 100% 10674%
; "Does not include FDIC insurance
'**Formedy, ViewPoint Bank
;Depository Ledger Balance Review: Institution Account Type Beginning Bal. Deposits Withdrawals Ending Bal.
� 'r""""""""""""'_______________""""""""""""""""_____""""'_______________"""""'________________" ;
I Wells Fargo Bank Checking $ 3,164,674 $ 98,160,345 $ (99,191,120) $ 2,133,899
Il""""""""""" ""'______"""""""________""" """"""____"""""""" '
�Compliance Statement & Review: �The Quarterly Investment Report is in full compliance with the objectives, reshictions, and stretegies as set forth in the City of Denton's Investment�
�Policy and the Public Funds Investment Act (Texas Government Code, Chapter 2256.023).
ANTONIO PUENTE, JR. CAROLWE RNLEY
Reviewer: Antonio Puente, Jr., CGFO Preparer Caroline Finley
Assistant Director ol Finance Treasury Administrator
CHUCKSPRINGER BRYAN LANGLEY
Reviewer. Chuck Springer, CGFO Reviewer. Bryan Langley, CGFO
Director o( Finance Deputy City ManagedC00
L"""""""""""""""""""""""'L""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""'J
INVESTMENTPOOL
j Par Value - U.S. Treasuries
; Par Value - U.S. Federal Agencies
; Par Value - Municipal Bonds
;Certificates of Deposit
; Par Value - Commercial Paper
; Local Government Investment Pools
; Insured Cash Sweep Savings Deposits
;Demand Deposits
iTotal Par Value
; Market Value - U.S. Treasuries
; Market Value - U.S. Federal Agencies
; Market Value - Municipal Bonds
;Certificates of Deposit
; Market Value - Commercial Paper
; Local Government Investment Pools
;Insured Cash Sweep Savings Deposits
;Demand Deposits
iTotal Market Value
; Book Value - U.S. Treasuries
; Book Value - U.S. Federal Agencies
; Book Value - Municipal Bonds
;Certificates of Deposit
; Book Value - Commercial Paper
; Local Government Investment Pools
� Insured Cash Sweep Savings Deposits
�Demand Deposits
�Total Book Value
Interest
j Cash Value -
�(Total Market Value+pccrued Interest)
� Unrealized Gain/�Loss)
�Change in Fair Value since 9/30/16 -
; (GASB 31)
Current 3 Months Ago 3 Month 1 Year Ago 1 Year
9/30/2017 6/30/2017 Difference 9/30/2016 Difference
__________________________________________ ____________________ _____________________ ____________________.
$ 54,000,000 $ 54,000,000 $ - $ 29,000,000 $ 25,000,000
352,756,000 347,000.000 5,756,000 215,000,000 137,756,000
22,800,000 31,860,000 (9,060,000) 35,060,000 (12,260,000)
151,000,000 145,756,500 5,243,500 162,000,000 (11,000,000)
40,000,000 70,000,000 (30,000,000) 25,000,000 15,000,000
59,924,172 127,524,172 (67,600,000) 69,700,000 (9,775,828)
25,000,000 - 25,000,000 - 25,000,000
2,133,899 1,712,328 421,571 3,395,268 (1,261,369)
$ 707,614,071 $ 777,853,000 $ (70,238,929) $ 539,155,268 $ 168,458,803
$ 54,005,424 $ 54,066,642 $
351,938,910 346,204.860
22,733,295 31,808,347
151, 000, 000 145, 756, 500
39,846,205 69,769,419
59,924,172 127,524,172
25,000,000 -
2,133,899 1.712,328
$ 706,581,905 $ 776,842,268 $
$ 54,062,054 $ 54,135,449 $
352,831,583 347,074,851
22,841,978 31,945,426
151, 000, 000 145, 756, 500
39,849,849 69,784,089
59,924,172 127,524,172
25,000,000 -
2,133,899 1,712,328
$ 707,643,535 $ 777,932,815 $
(61,218) $ 29,070,259 $ 24,935,165
5,734,050 215,494,931 136,443,979
(9,075,052) 35,382,959 (12,649,664)
5,243,500 162,000,000 (11,000,000)
(29,923,214) 24,931,675 14,914,530
(67,600,000) 69,70Q000 (9,775,828)
25,OOQ000 - 25,000,000
421,571 3,395,268 (1,261,369)
(70,260,363) $ 539,975,092 $ 166,606,813
(73,395) $ 28,951,676 $ 25,110,378
5,756,732 215,376,940 137,454,643
(9,103,448) 35,375,374 (12,533,396)
5,243,500 162,000,000 (11,000,000)
(29,934,240) 24,914,071 14,935,778
(67,600,000) 69,70Q000 (9,775,828)
25,OOQ000 - 25,000,000
421,571 3,395,268 (1,261,369)
(70,289,280) $ 539,713,329 $ 167,930,206
$ 3,052,951 $ 3,368,342 $ (315,391) $ 2,505,147 $ 547,804
$ 709,634,856 $ 780,21Q610 $ (7Q575,754) $ 542,48Q239 $ 167,154,617
$ (1,061,630) $ (1,09Q547) $ 28,917 $ 261,763 $ (1,323,393)
$ (1,586,781) $ (1.624,078) $ 37,297 $ (1,257,756) $ (329,025)
Statement: ;The investment pool is an aggregation of the majority of City funds which may include tax receipts, enterprise fund revenues, fine and �
jincome, as well as some, but not necessarily all bond proceeds, grants, gifts and endowments. This portfolio is maintained to m
;anticipated daily cash needs for the City's operations, capital projects and debt service. In order to meet these obligations and to minim
jpotential liquidation losses, the dollarweighted stated average maturity of the investment pool shall not exceed 1.5 years or 550 days. l
;objectives of this portfolio are to: (1) ensure safety of principal by investing in only high quality securities for which a shong secondary mar
jexists; (2) ensure that anticipated cash flow needs are matched with adequate investment liquidity; (3) limit market and credit risk throi
;diversification; and (4) attain the best feasible yield, commensurate with the objectives and restrictions set forth in the Investment Policy,
�actively managing the portfolio to meet or exceed the twelve month moving average yield of a one year U.S. Treasury bill as derived from
� Federal Reserve Statistical Release H.15 for constant maturities.
INVESTMENT POOL
; Summary By Security Type:
;U.S. Treasuries - Coupon
�U.S. Federal Agencies - Coupon
�U.S. Federal Agencies - Callable
; Municipal Bonds - Coupon
;Certificates of Deposit - CDARS
; Certificates of Deposit - Collateralized
;Cer[ificates of Deposit - SLOC
� Commercial Paper - Discount
ILocal Govemment Investment Pools
; Insured Cash Sweep Savings Deposits
;Demand Deposits
�Total Book Value
Current
9/30/2017
■ U.S. Federal Agencies -
Coupon
45.51 %
; Objective:
�Summary By Security Type:
IU.S. Treasuries - Coupon
;LLS. Federal Agencies - Coupon
;U.S. Federal Agencies - Callable
; Municipal Bonds - Coupon
; Certificates of Deposit - CDARS
� Certificates of Deposit - Collateralized
I Certificates of Deposit - SLOC
I Commercial Paper - Discount
;Local Govemment Investment Pools
; Insured Cash Sweep Savings Deposits
;Demand Deposits
jTotal
Current 3 Months Ago 1 Year Ago
9/30/2017 6I30/2017 9I30/2016
$ 54,062,054 $ 54,135,449 $ 28,951,676
322,073,977 326,075,506 200,377,114
30,757,606 20,999,345 14,999,826
22,841,978 31,945,426 35,375,374
59,000,000 38,756,500 58,000,000
- - 9,OOq000
92,000,000 107,000,000 95,000,000
39,849,849 69,784,089 24,914,071
59,924,172 127, 524,172 69,700,000
25,000,000 - -
2,133,899 1,712, 328 3,395,268
$ 707,643,535 $ 777,932,815 $ 539,713,329
� U.S.Treasuries-
Coupon
7.64%
Demand Deposits
0.30 %
Insured (
Savings Deposits -
3.53% Local Govemment
Investment Pools
5.47%
Commercial Paper-
Discount
5.63 %
U.S. Federal Agencies -
Callable
4.35 %
Municipal Bonds -
Coupon
3.23%
Certificates of
Deposit - CDARS
8.34%
Certificates of
Deposit - SLOC
13.00%
�ortf01i0 is reshiCted to U.S. TreasUries antl agenCy SeCUrities (matUring in less lhan five years); 5late antl lOCally i55Ued TexaS mUniCipal bontls;
I AA or better (maturing in less than three years); insured, collaterelized, or standby letter of credit backed certificates of deposit (maturing in less;
three years); collateralized repurchase agreements (maturing in less than thirty days); commercial paper rated A-1/P-1 or better (maturing in less;
270 days); and local govemment pools & SEC registered govemment money market mutual funds (weighted average maturity of less than 60�
Current
"""9/30/2017
7.64 % ""'
45.51 %
4.35 %
3.23 %
8.34 %
0.00%
13.00 %
5.63%
8.47%
3.53%
0.30 %
100.00 %
3 Months Ago
6/30/2017
6.96 % ""'
41.92 %
2.70 %
4.11 %
4.98 %
0.00%
13.75 %
8.97%
16.39 %
0.00%
0.22 %
100.00 %
1 YearAgo
""""913 012 0 1 6
5.36 %
37.13%
2.78 %
6.55%
10.75 %
1.67%
17.60 %
4.62%
12.91 %
0.00%
0.63 %
100.00%
INVESTMENTPOOL
'�, Summary By Issuer.
�ICDARSCDs
��, COMERICA BANK CDs
�', LEGACVTEXAS BANK CDs'
��, INDEPENDENT BANK CDs
�I U.S. TREASURV
FFCB
FHLB
FHLMC
FNMA
��, DALLAS, TX W TR & SW R REV BDS
��, TEXAS A8M UNIV REV BDS
��� W ILLIAMSON COUNTV, TX GEN OBG BDS
'�, LUBBOCK, TX GO REFUNDING BDS
'� 11NIVERSITV OF HOUSTON, TX REV BDS
'� MCKINNEY, TX GENERAL OBG BONDS
'� TEXAS SCHOOL OIST GEN O6G BONDS
I JP MORGAN SE W RITIES LLC
'� TOVOTA MOTOR CREOIT CORP
:GE CAPITAL TREASURV LLC
;NESTLE FINANCE INTL LT�
�AMERICAN HONDA FINANCE
�',TEXSTAR
�', INSURED CASH SW EEP SAVINGS
��, W ELLS FARGO DEMAND DEPOSITS
�'� Tolal Book Value
Current 3MonthsAgo 1VearAgo
___91301201]_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 61301201]_ '"'"'"'_ _ _ _ _ _ _ _ _ _ "' 9/30/2016
S 59.000,000 S 38.756,500 $ 58,000,000
- - 9,000,000
62,000,000 77.000,000 62,000,000
30,000,000 30,000,000 33,000,000
54.062,054 54,135,449 28,951,676
84,030,9]9 ]8,026,414 36,994,683
130.125,419 145.072,491 73,036, 503
52,934,154 43,052,161 53,248,546
85.741,031 80.923,779 52,097,208
io,000,000 io,000,000 io,aoa,oao
4,500,000 9.500,000 9,514,690
- - 1.629.498
3,301,573 3.302,629 3,305,799
5,040,405 5,06],543 5,148,956
- 1.184,434 1.211,640
- z.aso.azo a.ssa.�si
24,870.611 14.893,352 24.914,071
4,990,263 16,966,2]3 -
- 17,977,050 -
9.988.9]5 14.950.2]5 -
- 4.997,139 -
58.924.1]2 121.524.1]2 69.]00.000
25,000,000 - -
2,133,898 1,]12,328 3,385,268
$ ]0],643,535 $ 777,932,815 $ 539,]73,329
Current
9/30/201]
INSURED CASH SWEEP SAVIN65,
3.53%
TEXSTAR, S 4]%
NESTLEFINANCEINTLLTD,1.41%
TOYOTA MOTOR CREDIT CORP,
0.]1%
1P MOR6AN SECURITIES LLC,
3.S1Y
UNIVERSITV OF HOUSTON, TX REV
BDS, 0.]1%
• LUBBOCK,TXGOREFUNDIN6
BDS, 0.4]%
■ TEXAS A&M UNIV REV BDS, 0.64% -
DALLAS, TX WTR & SWR REV BDS,
1.41%
WF DEMAND DEPOSITS, 030%
■ CDARS CDs, 834%
■ LEGACYTEXAS BANK CDs, 8.76%
� • INDEPENDENT BANK CDS, 4.24Y
� � U.S. TREASURY, J.64°/a
• FNMA, 12.12%
• FFCB, 11.8]%
■ FHLMC, ].48�
• FHLB,1839Y
'�, Objective:
'� Summary By Issuer:
��CDARSCDs
�I COMERICA BANK CDs
'� LEGACVTEXAS BANK CDs'
�', INDEPENDENT BANK CDs
�� U.S. TREASURV
FFCB
FHLB
FHLMC
FNMA
'� DALLAS, TX W TR 8 SW R REV BDS
�', TEXAS A&M UNIV REV BDS
�', W ILLIAMSON COUNTY, TX GEN OBG BDS
�', LUeBOCK, TX GO REFUNDING BDS
�', UNIVERSITY OF HOUSTON. TX REV BDS
��, MCKINNEV, T% GENERAL OBG BONDS
��, TEXAS SCHOOL DIST GEN OBG BONDS
��, JP MORGAN SECURITIES LLC
��, TOVOTA MOTOR CREDIT CORP
��, GE CAPITAL TREASURV LLC
�� NESTLE FINANCE INTL LTD
'�qMERICAN HONDA FINANCE
TEXSTAR
I INSURED CASH SW EEP SAVMGS
'� W ELLS FARGO DEMAN� DEPOSITS
Tolal
�I,'Formerly, ViewPoin( Bank
It is �he policy of the City to tliversify �its inves�men� portfolio by restric�ing inves�men�s �in a single �issuer/�ins�itu�ion �o no more than 35 percen� of the portfalia's �otal baak value and lo lhase off�
repurchase agreemen�s, collateralized CDs (�inclutling s�antlbyletters of creditj, antl local or state of Texas municipal securities �o no grea�er�han 15 percen�. The purpose ofthis requ�iremenl�is lo
market antl cretlit risk. Commercial paper issuers are fuhher res�rictetl by a 5 percent �o�al pohfolio limitation. There are no �issuer limi�a�ions on U.S. Treasuries or F�IC �insured pratlucts excepl as
pertain to the overall 35 % certificates o( tleposi� antl 15 % savings tleposi� restriclians. Some imestment types may be further I�imiled.
Current 3MonthsAgo 7VearPqo
91301201] 61301201] 9/30/2016
8.34% 4.98% 10]5 0
0.00 % 0.00 % 1.6] %
8]6% 9.90% 1149%
424% 386% 6.11%
7.64 % 6.96 % 5.36 %
11.87 % 10.03 % 6.85 %
18.39 % 18.65 % 13.53 %
�.48 % 5.54°0 9.8]°0
12.12% 1040% 9.65%
1.41 % 1.29°0 1.85%
0.64% 122% 1.76%
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047% 042% 0.61%
o.�� i o.esi o.ss o
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0.00°0 0.3�°0 0.85 %
3.51% 1.92% 4.62%
o.�i o va o o.00 0
0.00% 2.31% 0.00%
�.a� o �.s2 0 0.00 0
0.00 % 0.64 % 0.00 %
8.4�°0 18.39 % 12.91 %
3.53% 0.00% 0.00%
0.30% 0.22 % 0.83 %
ioo.00i ioo.00i ioo.00i
INVESTMENT POOL
Maturity Time Frame:
00-03 Months
03-06 Months
06-12 Months
12-24 Months
24 Months & Over
iotal Par Value
Current 3 Months Ago 1 Year Ago
9/30I2017 6130/2017 9/30/2076
$ 136,058,071 $ 226,053,000 $ 123,095,268
115,30Q000 44,OOQ000 96,200,000
137,500,000 174,800,000 81,060,000
20QOOQ000 223,OOQ000 190,80Q000
115,756,000 110,000,000 48,000,000
$ 707,614,071 $ 777,853,000 $ 539,155,268
$850,000,000
$800,000,000
$750,OOQ000
$700,000,000
$650,000,000
$600,OOQ000
$550,000,000
$500,000,000
$450,OOQ000
$400,000,000
$350,000,000
$300,OOQ000
$250,000,000
$200,000,000
$150, 000, 000
$100, 000, 000
$5Q000,000
$0
■00-06 Months ■06-12 Months ■12-24 Months ■24 Months & Over
Maturity Time Frame:
DO-03 Months
D3-06 Months
06-12 Months
12-24 Months
24 Months 8 Over
The risk of market price volatility is minimized through maturity diversification. Investment maturities are staggered to provide cash
based on the anticipated needs of the City. Liquidity is achieved by matching investment maturities with forecasted cash disbursei
and by investing in securities with active secondary markets. Short-term local government investment pools and government n
market mutual funds help to provide daity liquidity and may be utilized as a competitive alternative to other fixed income investments.
Current
9I30I2017
1923%
16.30 %
19.43 %
2826 %
16.78 %
100.00 %
3 Months Ago
6130I2017
----29.06 % ---.
5.66 %
22.47 %
28.67 %
14.14 %
700.00 %
1 Year Ago
9/30/2016
22.83 %
17.84 %
15.03 %
35.39 %
8.91 %
100.00 %
Current 3 Months Ago 1 Year Ago
�----------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------------------------
ECONOMIC SUMMARY
Interest Rate History
�Source: U.S. Federal Reserve Statistical � �
`""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""""'�
� Release (H.15) Fiscal Year 2011-2012 Fiscal Year 2012-2013 Fiscal Year 2013-2014
� Dec-11 Mar-12 Jun-12 Sep-12 � Dec-12 Mar-13 Jun-13 Sep-13 � Dec-13 Mar-14 Jun-14 Sep-14 �
�Market Sector. �---A�9-------- A�9 ------- A�9------- A�9--- � ---A�9-------- A�9 ------- A�9------- A�9--- � ---A�9--------==�9 -------A�9-------A�9--- �
;FedFunds(effective) 0.07% 0.13% 016% 0.14%� 0.16% 0.14% 0.09% 0.08%� 0.09% 0.08% 0.10% 009%~
;3-MonthU.S.T-Bill 0.01% 0.08% 0.09% 0.11%; 0.07% 0.09% 0.05% 0.02%; 0.07% 0.05% 0.04% 0.02%;
;2-Year U.S. T-Note 026 % 0.34 % 029 % 026 % ; 026 % 026 % 0.33 % 0.40 % ; 0.34 % 0.40 % 0.45 % 0.57 % ;
�PortfolioBenchmark* 0.18% 0.15% 0.15% 0.16%� 0.18% 0.18% 0.16% 0.15%� 0.13% 0.13% 0.12% 0.12%I
�PortfolioYield 0.59% 0.58% 0.56% 0.55%� 0.52% 0.50% 0.48% 0.49%� 0.50% 0.49% 0.49% 0.51%�
� �-----------------------------------------------�-----------------------------------------------�-----------------------------------------------"
Fiscal Year 2014-2015 Fiscal Year 2015-2016 Fiscal Year 2016-2017
; Dec-14 Mar-15 Jun-15 Sep-15 ; Dec-15 Mar-16 Jun-16 Sep-16 ; Dec-16 Mar-17 Jun-17 Sep-17 ;
I Market Sector. `"'A�9"""" A�g """' A�9"""' A�g"'�"'A�9"""" A�9 """' A�9"""' A�9"'�"'A�g"""" A�9 """' A�g"""' A�@"'�
IFedFunds(effective) 0.12% 0.11% 0.13% 0.14%� 0.24% 0.36% 0.38% 0.40%� 0.54% 0.79% 1.04% 1.15%I
� 3-Month U.S. T-Bill 0.03 % 0.03 % 0.02 % OA2%; 023 % 0.30 % 027 % 029 %� 0.51 % 075 % 1.00 % 1.05 % �
; 2-Year U.S. T-Note 0.64 % 0.64 % 0.69 % 071 %; 0.98 % 0.88 % 0.73 % 0.77 %; 1.20 % 1.31 % 1.34 % 1.38 %;
;PortfolioBenchmark* 0.12% 0.15% 0.18% 0.24%; 0.32% 0.41% 0.49% 0.54%; 0.61% 0.69% 0.83% 1.00%;
;PortfolioYield � 0.55% 0.57% 0.57% 0.65%� 0.72% 079% 0.81% 0.90%� 0.95% 1.07% 1.16% 125%�
`-----------------------------------------------'------------------------------------------------'------------------------------------------------
�`TweNe mon[h moving average of a one year �
;U.S. T-bill yield
1.50% FY 2011-12 FY 2012-13 FY 2013-14 FY 2014-15 FY 2015-i6 FY 2016-17
1.00 % -
0.50 % -
0.00 %
Dec Mar- Jun- Sep- Dec Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec- Mar- Jun- Sep- Dec Mar- Jun- Sep- Dec Mar- Jun- Sep-
11 12 12 12 12 13 13 13 13 14 14 14 14 15 15 15 15 16 16 16 16 17 17 17
� Fed Funds t 3-Month T-Bill 2-Year T-Note Portfolio Yield Portfolio Benchmark*
� ,
FiscalYearto Date Earnings
Oct - Dec Oct - Mar Oct - Jun Oct - Sep
I.-----------�----------------------�-----------�-----------------------�-----------�------------------------�----------- ------- - --- -------
IFiscal Year. 3 Monihs 6 Months 9 Months 12 Months
� �-----------�---------------'-------�-----------T---- *-----------�------------------------�-----------�- -
;2016-2017 ; $ 1,175,753 ; $ 2.763,136 ; ; $ 4,734.315 ; $ --" 6,999,226 j
;2015-2016 ; $ 849,368 ; ; $ 1,771,205 ; ; $ 2,743,856 ; ; $ 3,961,971 ;
j2014-2015 �$ 613,879 ; j$ 1,228,059 j �$ 1,874,847 j �$ 2,695,211 �
�2013-2014 �$ 568,825 I �$ 1,121,491 � �$ 1,680,154 � �$ 2,298,785 �
;2012-2013 ; $ 612,750 ; ; $ 1,177,337 ; ; $ 1,703,496 ; ', $ 2,276,341 ;
;2011-2012 ; $ 621,194 ; � $ 1,239,869 ; ; $ 1,862,207 ; ; $ 2,511,585 ;
QUARTERLYCOMMENTARY
; September 30, 2017 � �
r------------------------------------------------------------------------------------------------------------------------------------------------- �
; Source: First Southwest Asset Management ;The third calendar quarter was marked by increased tensions with North Korea, a plethora of costly natural disasters, and;
I Economic Summary & TexSTAR Monthly ;festering fiscal policy uncertainty. As anticipated, there was no annoucned rate hike from the Septermber Federal Open Market�
Newsletter ;Committee (FOMC) meeting; however, FED Chair Yellen reterated the probability of a 25 basis point increase in the ovemighC
�funds rate in December with the possibility of three more in 2018. Committee members also revealed a late October start date for�
�reduction of its $4.5 trillion bond portfollio. After the meeting, interest rates increased sharply across the curve while stocks�
;remained resilient According to the Bloomberg economist survey dated October 1Q 2017 the median growth forecast for third;
;quarter real GDP is 2.1 %, followed by 2.3 %, 2.6 % and 2.4 % for the next three quarters.
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Section
City of Denton
Quarterly Financial Report
September 2017
PERFORMANCE REPORT
Strategic Plan
The City of Denton uses a Strategic Plan as a roadmap to achieve long-term goals and objectives that
capture the City's Vision, Mission, and Value statements. The first Strategic Plan was formally
approved by the City Council in April 2011, and it has been updated periodically since that time. Over
the past year, the City has partnered with the Bloomberg What Works Cities initiative to refine our
strategic outcomes and identify measurable ways to mark our progress. The City Council approved
the FY 2016-17 Strategic Plan and associated performance measures on September 20, 2016.
The Strategic Plan serves as the basis for resource allocation decisions that are used in the
development of the FY 2016-17 Budget. The Strategic Plan is organized into five Key Focus Areas
(KFAs) and major goals associated with each KFA are also identified below.
Goal 1.1 Manage financial resources in a responsible manner.
Goal 1.2 Develop a high-performance work force.
Goal 1.3 Promote effective internal and external communication.
Goal 1.4 Achieve high level of customer satisfaction.
Goal 1.5 Utilize technology to enhance efficiency and productivit�
Goal 1.6 Collaborate with local, regional, state, and federal partnf
Goa12.1 Optimize resources to improve quality of City roadways.
Goa12.2 Seek solutions to mobility demands and enhance connectivity.
Goa12.3 Promote superior utility services and facilities.
Goa12.4 Manage drainage infrastructure.
Goa12.5 Develon Canital Imnrovement Pro�ram fCIPI based on communitv needs.
Goa13.1 Develop targeted policies and incentives to achieve desired economic
Goa13.2 Make Denton a destination for visitors.
Goa13.3 Promote a business-friendly environment.
Goa13.4 Encoura�e development, redevelopment, recruitment, and retention.
Goa14.1 Enhance public safety in the community.
Goa14.2 Seek clean and healthy neighborhoods in Denton.
Goa14.3 Provide quality, diverse, and accessible neighborhood services for the communit3
Goa14.4 Provide and support outstanding leisure, cultural, and educational opportunities.
Goa14.5 Provide sunnort to citizens in need through social service agencies and nrograms.
Goal 5.1 Manage Denton's water resources.
Goal 5.2 Improve air quality and greenhouse gas mana
Goa15.3 Improve energy efficiency and conservation.
Goal 5.4 Manage land use and preserve open/natural s
Goa15.5 Provide alternative modes of transportation.
Goal 5.6 Promote sustainable materials resource man�
Goal 5.7 Encoura�e local food nroduction.
Strategic Plan
The matrix below organizes the Key Focus Areas (KFAs) by select service areas in the organization.
While every department has some level of responsibility for each KFA, the matrix is intended to only
highlight the primary departments responsible for each KFA.
. .
Electric ✓
Water ✓ ✓ ✓ ✓
Wastewater ✓ ✓
Solid Waste ✓
Technolo y Services ✓
Materials Mana ement ✓
Fleet ✓ ✓
Risk ✓
:1� 11� �
Buildin Ins ection ✓ ✓ ✓
Communit Improvement Services ✓
Libraries ✓
Parks and Recreation ✓
Plannin ✓ ✓ ✓
Gas Well O erations ✓
Community Development ✓
Animal Services ✓
Fire ✓
Police ✓
Municipal Court ✓
., .�. �
Airport ✓
Streets ✓
Traffic/Transportation ✓ ✓
� �• �
City Manager's Office ✓
Economic Develo ment ✓
Facilities Mana ement ✓
Finance ✓ ✓
Human Resources ✓
Internal Audit ✓
Legal ✓
Public Communications ✓
Ke Focus Area 1: Organizational Excellence
Key Focus Area 2: Public Infrastructure
Ke Focus Area 3: Economic Develo ment
Key Focus Area 4: Safe, Liveable and Family-Friendly Community
Ke Focus Area 5: Sustainable & Environmental Stewardshi
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G.O. BOND PROGRAM
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