ABOUT THIS REPORT. 3. The Investment Reports provide a description of investment activity, a summary of interest earnings, and the Town s portfolio.

Transcription

1 Comprehensive Monthly Financial Report May 2018

2 ABOUT THIS REPORT The Financial Services Department is dedicated to excellence in local government, comprehensive fiscal management, compliance, and reporting. The Comprehensive Monthly Financial Report (CMFR) is directed at providing our audience (internal and external users) with a general awareness of the Town s financial positions and economic activity. This report is comprised of four sections: 1. The Financial Summary reports the performance of the major operating funds of the Town. It provides comparative data for major revenue sources and expenditure items. Narrative disclosures are used to highlight any significant changes or fluctuations. 2. The Economic Analysis section contains a summary of the key economic indicators and an in-depth review with graphic illustrations. 3. The Investment Reports provide a description of investment activity, a summary of interest earnings, and the Town s portfolio. 4. Reports of Special Interests include the legal fee report. We would like to acknowledge those responsible for this report: Caryn Riggs for the Financial Summary, Economic Analysis, and Special Interest Report; and Julie Taylor for the Investment Reports. This CMFR includes May 2018 data. This information is neither final nor audited. Please provide us with any comments or suggestions you may have and should you desire additional information, feel free to contact my office. Debra L. Wallace Debra L. Wallace Deputy Town Manager/CFO 2121 Cross Timbers Road Flower Mound, TX

3 Town of Flower Mound Comprehensive Monthly Financial Report Table of Contents Financial Summary Report Notes... 2 Financial Statements... 7 Economic Analysis Current Property Tax Franchise Fees Sales Tax Water Sales Sewer Charges Appraisal Roll Comparison Permits Statistical Report Investment Reports Compliance Reports Special Interests Legal Fee Report... 32

4 Section 1 Town of Flower Mound Comprehensive Monthly Financial Report This report is designed for internal use and does not include all the funds and accounts included in the Town of Flower Mound s operations. For a complete report, refer to the Town of Flower Mound Comprehensive Annual Financial Report, available through the Town s Financial Services Department. Financial Summary

5 REPORT NOTES May 2018 GENERAL FUND Revenues Revenues derived from General Fund functions totaled $52,493,696 through May 31, This represented an increase of 13.27% from revenues earned in the preceding year. The major contributing factor is an increase of $5,447,182 in Taxes primarily due to timing of Property tax revenue, an increase of $237,657 in Fines and forfeits, an increase of $181,855 in charges for services, an increase of $156,029 in Interest Income, an increase of $136,221 in Licenses, permits and fees, and a decrease of $26,399 in Memorials and contributions. Following is a percentage summary of total revenues from each major source of General Fund revenue for fiscal year , to date: Taxes 84.99% Charges for services 4.35% Licenses, permits and fees 3.78% Fines and forfeits 1.67% Memorials and contributions 0.00% Intergovernmental 1.10% Interest income 0.48% Other revenue/transfers in 3.63% % A tabulation of General Fund revenues with a comparison between fiscal years 2017 and 2018 is presented in the following table: Increase/(Decrease) Fiscal Year-to-Date Over Amount Percent Taxes $ 44,610,971 $ 39,163,789 $ 5,447, % Charges for services 2,282,210 2,100, , % Licenses, permits and fees 1,981,909 1,845, , % Fines and forfeits 878, , , % Memorials and contributions - 26,399 (26,399) 0.00% Intergovernmental 578, ,941 58, % Interest income 257, , , % Other revenue/transfers in 1,904,208 1,944,825 (40,617) -2.09% Total Revenue $ 52,493,696 $ 46,342,777 $ 6,150, %

6 Report Notes, Continued May 2018 Increase/(Decrease) Fiscal Year-to-Date Over Amount Percent Property Taxes (including current, delinquent, and penalty and interest) $ 35,314,390 $ 30,263,585 $ 5,050, % Sales Tax Collections 5,993,631 5,804, , % Liquor Tax 122, ,777 19, % Franchise Fees 3,180,091 2,991, , % Total Tax Revenue $ 44,610,971 $ 39,163,789 $ 5,447, % A breakdown of the Tax Revenue reflected in the preceding table is as follows: Expenditures Expenditures for General Fund purposes were $39,172,802 through May 31, 2018, an increase of $1,579,077 or 4.20% from the preceding year. A more detailed analysis of the changes in the General Fund expenditures is presented in the table listed on the following page.

7 Report Notes, Continued May 2018 Prior Year Comparison of General Fund Expenditures by Division Through May 31, 2018 Increase/(Decrease) Fiscal Year-to-Date Over Amount Percent Town Manager's Office $ 924,612 $ 785,929 $ 138, % Legislative Services 289, ,794 (31,840) -9.89% Development Services 1,493,161 1,343, , % Community Services 5,538,072 5,150, , % Police Services 8,392,878 8,061, , % Financial Services 2,300,835 2,226,656 74, % Administrative Services 3,536,675 3,371, , % Fire & Emergency Services 9,026,079 9,628,885 (602,806) -6.26% Community Relations 453, ,891 18, % Non-Departmental Services 3,421,549 2,540, , % Public Works 2,880,988 2,823,771 57, % Environmental Services 914, ,564 10, % Total Expenditures $ 39,172,802 $ 37,593,725 $ 1,579, % Expenditures for General Fund purposes through May 31, 2018, are outlined on a percentage basis as follows: Function Total Town Manager's Office 2.36% Legislative Services 0.74% Development Services 3.81% Community Services 14.14% Police Services 21.43% Financial Services 5.87% Administrative Services 9.03% Fire & Emergency Services 23.04% Community Relations 1.16% Non-Departmental Services 8.73% Public Works 7.35% Environmental Services 2.34% %

8 Report Notes, Continued May 2018 WATER AND SEWER Revenues Operating revenue in the Town s enterprise fund, the Utility Fund, was $23,085,482 through May 31, 2018, an increase of $1,029,635 or 4.67% compared to revenues reported for the same time period in the preceding year. There was a 2.05% gain in the number of water customers (increased from 23,751 to 24,239) and water consumption year-to-date (as measured by volume of water purchased from the Dallas Water Utilities and Upper Trinity Regional Water District) decreased slightly from 2,617,885 billion gallons to 2,617,816 billion gallons. Estimated water loss for the past 12-month period was 6.48%. Other comparative data for the past two (2) years is presented below: Increase/(Decrease) Fiscal Year-to-Date Over Amount Percent Charges for services $ 22,588,870 $ 21,641,529 $ 947, % Penalties, fines and forfeits 199, ,106 3, % Interest income 94,263 38,840 55, % Other revenue 203, ,372 23, % Total Revenue $ 23,085,482 $ 22,055,847 $ 1,029, % The breakdown of the Charges for Services revenue is reflected in the preceding table is as follows: Fiscal Year-to-Date Increase/(Decrease) Over Amount Percent Water Sales $ 15,734,797 $ 15,013,275 $ 721, % Sewer Charges 6,622,580 6,419, , % Meter and Connect Fees 149, ,617 17, % Solid Waste Collection 82,211 76,979 5, % Total Charges for Services $ 22,588,870 $ 21,641,529 $ 947, %

9 Report Notes, Continued May 2018 Expenditures The Water and Sewer Fund expenditures through May 31, 2018 totaled $27,432,350. This represented an overall increase of $1,040,631 or 3.94% over the preceding year. Increase/(Decrease) Fiscal Year-to-Date Over Amount Percent Development Services $ 302,106 $ 290,955 $ 11, % Financial Services 1,165,741 1,169,417 (3,676) -0.31% Non-Departmental Services 7,539,698 7,317, , % Public Works 18,424,805 17,613, , % Total Expenditures $ 27,432,350 $ 26,391,719 $ 1,040, % Expenditures for Water and Sewer Fund purposes through May 31, 2018, are outlined on a percentage basis as follows: Function Total Development Services 1.10% Financial Services 4.25% Non-Departmental Services 27.48% Public Works 67.16% % Attached are the monthly financial statements for the Town s major operating funds.

10 Town of Flower Mound Financial Statement as of May 31, 2018 Percent of Year Expired 58.33% General Fund Percent Percent Budget Actual YTD Actual YTD Budget Collected/ (GAAP) Revenues/ Budget Collected/ Obligated Revenues/ Budget Expenditures Encumbrances Balance Obligated Prior Years Expenditures REVENUES: Taxes $ 50,729,104 $ 44,610,971 $ - $ 6,118, % 82.90% $ 44,610,971 Charges for services 4,325,305 2,282,210-2,043, % 57.31% 2,282,210 Licenses, permits and fees 2,287,100 1,981, , % 81.35% 1,981,909 Fines and forfeits 892, ,344-13, % 71.05% 878,344 Memorials and contributions 4, , % % - Intergovernmental 648, ,932-69, % 81.06% 578,932 Interest income 120, ,122 - (137,122) % % 257,122 Transfer in 2,209,653 1,473, , % 66.67% 1,473,102 Other revenue 550, , , % 87.06% 431,106 Total Revenues $ 61,767,652 $ 52,493,696 $ - $ 9,273, % 80.52% $ 52,493,696 EXPENDITURES: Town Manager's Office $ 1,683,854 $ 924,612 $ 164,223 $ 595, % 48.25% $ 924,612 Legislative Services 484, , , % 70.52% 289,954 Development Services 2,290,850 1,493, , % 59.57% 1,493,161 Community Services 9,804,330 5,538, ,307 3,770, % 59.65% 5,538,072 Police Services 13,723,699 8,392, ,132 5,104, % 62.87% 8,392,878 Financial Services 3,511,078 2,300, ,039 1,073, % 67.26% 2,300,835 Administrative Services 5,955,905 3,536, ,072 2,258, % 64.33% 3,536,675 Fire and Emergency Services 14,155,051 9,026,079 37,243 5,091, % 69.87% 9,026,079 Community Relations 698, , , % 53.23% 453,229 Non-Departmental Services 4,959,500 3,421,549 35,392 1,502, % 63.48% 3,421,549 Public Works 4,902,599 2,880, ,874 1,604, % 63.74% 2,880,988 Environmental Services 1,553, ,770 70, , % 65.20% 914,770 Total Expenditures $ 63,722,727 $ 39,172,802 $ 1,744,082 $ 22,805, % 63.87% $ 39,172,802 EXCESS OF REVENUES OVER EXPENDITURES $ (1,955,075) $ 13,320,894 $ (1,744,082) $ (13,531,887) $ 13,320,894 FUND BALANCE 10/01/17 $ 17,007,499 FUND BALANCE AT 05/31/18 $ 30,328,393

11 Town of Flower Mound Financial Statement as of May 31, 2018 Percent of Year Expired 58.33% General Debt Service Fund Percent Percent Budget Actual YTD Actual YTD Budget Collected/ (GAAP) Revenues/ Budget Collected/ Obligated Revenues/ Budget Expenditures Encumbrances Balance Obligated Prior Years Expenditures REVENUES: Taxes $ 9,533,696 $ 10,324,537 $ - $ (790,841) % % $ 10,324,537 Interest income 15,000 41,312 - (26,312) % % 41,312 Transfer In 1,989,725 1,326, , % % 1,326,484 Total Revenues $ 11,538,421 $ 11,692,333 $ - $ (153,912) % % $ 11,692,333 EXPENDITURES: General Debt Service $ 11,496,965 $ 9,149,352 $ - $ 2,347, % 88.97% $ 9,149,352 Total Expenditures $ 11,496,965 $ 9,149,352 $ - $ 2,347, % 88.97% $ 9,149,352 EXCESS OF REVENUES OVER EXPENDITURES $ 41,456 $ 2,542,981 $ - $ (2,501,525) $ 2,542,981 FUND BALANCE 10/01/17 $ 1,030,204 FUND BALANCE AT 05/31/18 $ 3,573,185

12 Town of Flower Mound Financial Statement as of May 31, 2018 Percent of Year Expired 58.33% Utility Fund Percent Percent Budget Actual YTD Actual YTD Budget Collected/ (GAAP) Revenues/ Budget Collected/ Obligated Revenues/ Budget Expenditures Encumbrances Balance Obligated Prior Years Expenditures REVENUES: Charges for services $ 43,095,978 $ 22,588,870 $ - $ 20,507, % 52.76% $ 22,588,870 Penalties, fines and forfeits 300, , , % 65.37% 199,212 Interest income 53,000 94,263 - (41,263) % % 94,263 Other revenue 153, ,137 - (50,137) % % 203,137 Total Revenues $ 43,601,978 $ 23,085,482 $ - $ 20,516, % 53.18% $ 23,085,482 EXPENDITURES: Development Services $ 473,963 $ 302,106 $ - $ 171, % 53.61% $ 302,106 Financial Services 1,630,713 1,165,741 96, , % 73.76% 1,165,741 Non-Departmental Services 11,617,299 7,539,698 18,249 4,059, % 62.50% 7,539,698 Public Works 29,674,667 18,424, ,291 11,069, % 62.20% 18,424,805 Total Expenditures $ 43,396,642 $ 27,432,350 $ 295,038 $ 15,669, % 62.64% $ 27,432,350 EXCESS OF REVENUES OVER EXPENDITURES $ 205,336 $ (4,346,868) $ (295,038) $ 4,847,242 $ (4,346,868) WORKING CAPITAL 10/01/17 $ 8,961,177 FUND BALANCE AT 05/31/18 $ 4,614,309

13 Town of Flower Mound Financial Statement as of May 31, 2018 Percent of Year Expired 58.33% Stormwater Utility Fund Percent Percent Budget Actual YTD Actual YTD Budget Collected/ (GAAP) Revenues/ Budget Collected/ Obligated Revenues/ Budget Expenditures Encumbrances Balance Obligated Prior Years Expenditures REVENUES: Charges for services $ 1,592,627 $ 1,030,839 $ - $ 561, % 61.35% $ 1,030,839 Penalties, fines and forfeits 10,000 6,802 3, % 67.30% 6,802 Interest income 1,000 5,282 (4,282) % % 5,282 Other revenue (343) Total Revenues $ 1,603,627 $ 1,043,266 $ - $ 560, % 61.55% $ 1,042,923 EXPENDITURES: Development Services $ 146,027 $ 94,227 $ - $ 51, % 60.77% $ 94,227 Public Works 1,366, ,272 20, , % 59.72% 855,272 Environmental Services 86,600 51,820-34, % 66.67% 51,820 Total Expenditures $ 1,598,689 $ 1,001,319 $ 20,338 $ 577, % 60.16% $ 1,001,319 EXCESS OF REVENUES OVER EXPENDITURES $ 4,938 $ 41,947 $ (20,338) $ (16,671) $ 41,604 WORKING CAPITAL 10/01/17 $ 331,681 FUND BALANCE AT 05/31/18 $ 373,285

14 Town of Flower Mound Financial Statement as of May 31, 2018 Percent of Year Expired 58.33% Health Insurance/Flex-840 Percent Percent Budget Actual YTD Actual YTD Budget Collected/ (GAAP) Revenues/ Budget Collected/ Obligated Revenues/ Budget Expenditures Encumbrances Balance Obligated Prior Years Expenditures REVENUES: Charges for services $ 9,725,000 $ 6,295,980 $ - $ 3,429, % 68.15% $ 6,295,980 Interest income 4,000 33,946 - (29,946) % % 33,946 Transfers In 15,000 10,000-5, % 66.67% 10,000 Other revenue (212) 0.00% 0.00% 212 Total Revenues $ 9,744,000 $ 6,340,138 $ - $ 3,403, % 68.27% $ 6,340,138 EXPENDITURES: Internal Services $ 9,181,530 $ 6,035,122 $ 25,000 $ 3,121, % 66.08% $ 6,035,122 Total Expenditures $ 9,181,530 $ 6,035,122 $ 25,000 $ 3,121, % 66.08% $ 6,035,122 EXCESS OF REVENUES OVER EXPENDITURES $ 562,470 $ 305,016 $ (25,000) $ 282,454 $ 305,016 WORKING CAPITAL 10/01/17 $ 2,021,081 FUND BALANCE AT 05/31/18 $ 2,326,097

15 Section 2 Town of Flower Mound Comprehensive Monthly Financial Report This section contains a summary of the key economic indicators by analyzing major revenue sources and building permit activity. Economic Analysis

16 2017/2018 YEAR-TO-DATE Current Property Tax Variance CY Actual/ Variance CY Actual/ Year Year Actual to CY Projected Year Actual to PY Actual Budgeted Actual Budget % Variance Actual Prior Year % Variance October $ 117,199 $ 298,741 $ 181, % $ 108,986 $ 189, % November 1,726,387 1,736,473 10, % 1,605, , % December 12,622,413 17,929,015 5,306, % 11,737,911 6,191, % January 14,130,461 11,671,705 (2,458,756) % 13,140,284 (1,468,579) % February 5,211,386 3,216,510 (1,994,876) % 4,846,204 (1,629,694) % March 422, ,635 (287,962) % 392,984 (258,349) % April 97,562 90,450 (7,112) -7.29% 90,725 (275) -0.30% May (2,095,029) 72,120 2,167, % (1,948,222) 2,020, % June 53,491 - N/A N/A 49,743 N/A N/A July 52,425 - N/A N/A 48,751 N/A N/A August 30,126 - N/A N/A 28,015 N/A N/A September (19,313) - N/A N/A (17,960) N/A N/A $ 32,349,704 $ 35,149,649 $ 2,916, % $ 30,082,833 $ 5,175, % *May budget is negative due to TIRZ#1 transfer (Total to Date) (Y-T-D Variance) (Y-T-D Variance) Property Tax $20,000,000 $18,000,000 $16,000,000 $14,000,000 $12,000,000 $10,000,000 $8,000,000 $6,000,000 $4,000,000 $2,000,000 $-

17 2017/2018 YEAR-TO-DATE Franchise Fees Variance CY Actual/ Variance CY Actual/ Year Year Actual to CY Projected Year Actual to PY Actual Budgeted Actual Budget % Variance Actual * Prior Year % Variance October $ 1,645 $ 4,181 $ 2, % $ 2,002 $ 2, % November 11,667 14,114 2, % 14,196 (82) -0.58% December 342,756 35,322 (307,434) % 349,890 (314,568) % January 544, , , % 534, , % February 332, ,608 (21,653) -6.52% 325,317 (14,709) -4.52% March 935, ,934 (104,003) % 947,285 (115,351) % April 523, ,044 41, % 524,692 40, % May 301, , , % 294, , % June 229,670 - N/A N/A 237,640 N/A N/A July 559,382 - N/A N/A 563,074 N/A N/A August 331,023 - N/A N/A 327,180 N/A N/A September 1,424,017 - N/A N/A 1,413,771 N/A N/A $ 5,538,700 $ 3,180,091 $ 185, % $ 5,533,614 $ 188, % *Balances adjusted for accruals (Total to Date) (Y-T-D Variance) (Y-T-D Variance) Franchise Fees $1,600,000 $1,400,000 $1,200,000 $1,000,000 $800,000 $600,000 $400,000 $200,000 $-

18 2017/2018 YEAR-TO-DATE Sales Tax Variance CY Actual/ Variance CY Actual/ Year Year Actual to CY Projected Year Actual to PY Actual Budgeted Actual Budget % Variance Actual Prior Year % Variance October $ 2,330 $ 3,139 $ % $ 2,240 $ % November 2,942 3, % 2, % December 856, ,434 72, % 823, , % January 943, ,348 15, % 906,580 51, % February 1,350,651 1,317,951 (32,700) -2.42% 1,298,345 19, % March 900, ,064 (80,584) -8.95% 865,769 (45,705) -5.28% April 841, ,555 (63,862) -7.59% 808,832 (31,277) -3.87% May 1,140,649 1,183,995 43, % 1,096,475 87, % June 924,269 - N/A N/A 888,475 N/A N/A July 909,737 - N/A N/A 874,506 N/A N/A August 1,146,618 - N/A N/A 1,102,213 N/A N/A September 3,305,053 - N/A N/A 3,177,059 N/A N/A $ 12,324,000 $ 5,993,631 $ (44,692) -0.91% $ 11,846,731 $ 189, % (Total to Date) (Y-T-D Variance) (Y-T-D Variance) Sales Tax collected by vendors is received from State two months lagging (ie: October Sales Tax Collected is received in December) Sales Tax $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-

19 2017/2018 YEAR-TO-DATE Water Sales Variance CY Actual/ Variance CY Actual/ Year Year Actual to CY Projected Year Actual to PY Actual Budgeted Actual Budget % Variance Actual Prior Year % Variance October $ 1,456,782 $ 1,434,239 $ (22,543) -1.55% $ 1,349,265 $ 84, % November 1,707,832 2,513, , % 1,581, , % December 2,744,028 1,345,962 (1,398,066) % 2,541,506 (1,195,544) % January 1,703,115 2,462, , % 1,577, , % February 1,068,208 1,031,190 (37,018) -3.47% 989,369 41, % March 2,496,851 2,156,112 (340,739) % 2,312,572 (156,460) -6.77% April 2,313,655 2,157,445 (156,210) -6.75% 2,142,897 14, % May 2,719,149 2,633,812 (85,337) -3.14% 2,518, , % June 3,203,523 - N/A N/A 2,967,088 N/A N/A July 3,282,085 - N/A N/A 3,039,852 N/A N/A August 3,812,600 - N/A N/A 3,531,213 N/A N/A September 3,662,555 - N/A N/A 3,392,242 N/A N/A Accrual 1,751,022 - N/A N/A 1,621,789 N/A N/A $ 31,921,404 $ 15,734,797 $ (474,822) -3.52% $ 29,565,459 $ 721, % (Y-T-D Variance) (Y-T-D Variance) Water Sales $4,000,000 $3,500,000 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $-

20 2017/2018 YEAR-TO-DATE Sewer Charges Variance CY Actual/ Variance CY Actual/ Year Year Actual to CY Projected Year Actual to PY Actual Budgeted Actual Budget % Variance Actual Prior Year % Variance October $ 376,392 $ 388,897 $ 12, % $ 364,269 $ 24, % November 686, , , % 664, , % December 1,079, ,511 (400,808) % 1,044,556 (366,045) % January 882,372 1,095, , % 853, , % February 675, ,196 (1,034) -0.15% 653,482 20, % March 1,105,355 1,087,855 (17,500) -1.58% 1,069,753 18, % April 915, ,218 (12,439) -1.36% 886,165 17, % May 912, ,318 (6,548) -0.72% 883,464 22, % June 916,748 - N/A N/A 887,221 N/A N/A July 921,616 - N/A N/A 891,932 N/A N/A August 931,945 - N/A N/A 901,929 N/A N/A September 935,282 - N/A N/A 905,158 N/A N/A Accrual 520,678 - N/A N/A 503,908 N/A N/A $ 10,859,574 $ 6,622,580 $ (10,725) -0.19% $ 10,509,806 $ 202, % (Total to Date) (Y-T-D Variance) (Y-T-D Variance) $1,200,000 Sewer Charge $1,000,000 $800,000 $600,000 $400,000 $200,000 $-

21 APPRAISAL ROLL COMPARISON % Difference % Difference Tax Compared to Compared to Year Preliminary Roll Certified Roll Preliminary Final Roll Certified Roll ,010,246,235 2,045,069, % 2,065,755, % ,365,480,836 2,387,143, % 2,426,386, % ,008,969,840 2,948,590, % 2,969,415, % ,672,111,425 3,539,647, % 3,589,601, % ,214,334,516 4,076,122, % 4,115,776, % ,649,986,776 4,462,284, % 4,554,312, % ,053,029,514 4,880,173, % 4,896,811, % ,525,978,571 5,076,150, % 5,084,875, % ,518,068,718 5,341,955, % 5,347,908, % ,907,094,973 5,679,697, % 5,696,542, % ,473,517,811 6,278,448, % 6,272,677, % ,889,876,856 6,653,229, % 6,689,486, % ,969,402,110 6,755,288, % 6,771,421, % ,737,436,164 6,590,793, % 6,640,949, % ,845,055,160 6,674,576, % 6,716,050, % ,818,336,968 6,677,446, % 6,698,462, % ,064,220,969 6,908,155, % 6,933,625, % ,479,289,558 7,418,961, % 7,453,971, % ,104,629,862 8,133,973, % 8,098,895, % ,891,911,042 8,803,252, % 8,940,389, % ,844,516,885 9,567,940, % 9,695,761,188 * 1.34% Appraisal Roll $12,000,000,000 $10,000,000,000 $8,000,000,000 $6,000,000,000 $4,000,000,000 $2,000,000,000 $0 * As of Supplement #29 dated 04/04/2018

22 BUILDING PERMITS Y-T-Date Y-T-Date RESIDENTIAL COMMERCIAL TOTAL BUILDING PERMITS Y-T-D COMPARISON COMMERCIAL RESIDENTIAL Y-T-Date Total Total Total Total Total RESIDENTIAL COMMERCIAL TOTAL BUILDING PERMITS COMMERCIAL RESIDENTIAL

23 BUILDING VALUES Y-T-Date Y-T-Date RESIDENTIAL $ 185,485,949 $ 126,591,176 COMMERCIAL 37,039,777 84,348,992 TOTAL $ 222,525,726 $ 210,940,168 BUILDING VALUES Y-T-D COMPARISON COMMERCIAL RESIDENTIAL $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $ Y-T-Date Total Total Total Total Total RESIDENTIAL $ 185,485,949 $ 205,903,096 $ 167,205,907 $ 219,691,459 $ 142,083,930 $ 110,856,901 COMMERCIAL 37,039, ,872, ,454, ,954, ,469, ,476,151 TOTAL $ 222,525,726 $ 324,775,105 $ 354,660,491 $ 365,645,565 $ 285,553,064 $ 297,333,052 BUILDING VALUES COMMERCIAL $400,000,000 $350,000,000 $300,000,000 $250,000,000 $200,000,000 $150,000,000 $100,000,000 $50,000,000 $- RESIDENTIAL

24 Section 3 Town of Flower Mound Comprehensive Monthly Financial Report COMPLIANCE REPORTS Funds of the Town of Flower Mound are invested in accordance with Chapter 2256 of the Public Funds Investment Act. The Act clearly defines allowable investment instruments for local governments. The Town of Flower Mound Investment Policy incorporates the provisions of the act and all investment transactions are executed in compliance with the Act and the Policy. Investment Reports

25 The Town of Flower Mound Inventory by Maturity Report May 31, 2018 Town of Flower Mound 2121 Cross Timbers Road Flower Mound, Texas (972) Sec. CUSIP Investment # Fund Type Issuer SYS334 SYS SYS238 SYS SYS SYS DT3 3130A8BD XK1 3130A5Y LA C ACAH LF L RP RY8 3130AAE ADNE8 3130ABAN6 3133X72S Purchase Date Book Value Current Rate Maturity Date Maturity Amount Total Par YTM Days to Days Value Maturity 980 LA3 TexSTAR 10/01/ ,442, ,442, ,442, LA1 TexPool Investment Pool 10/01/ ,582, ,582, ,582, LA3 TexSTAR 10/01/ ,128, ,128, ,128, LA1 TexPool Investment Pool 10/01/ ,785, ,785, ,785, LA1 TexPool Investment Pool 10/01/ LA1 TexPool Investment Pool 10/01/2017 1,993, ,993, ,993, FAC Federal Home Loan Bank 04/06/2017 5,000, /08/2018 5,031, ,000, FAC Federal Home Loan Bank 06/27/2017 4,998, /29/2018 5,000, ,000, TRC US Treasury Note 09/20/2017 4,997, /15/2018 5,000, ,000, FAC Federal Home Loan Bank 06/27/2017 4,999, /16/2018 5,000, ,000, AFD Fede Agricultural Mort Corp 09/20/2017 4,989, /31/2018 5,000, ,000, AFD Federal Home Loan Bank 08/22/2017 4,986, /20/2018 5,000, ,000, FAC Federal Home Loan Bank 08/22/2017 4,999, /21/2018 5,000, ,000, AFD Fede Agricultural Mort Corp 09/20/2017 4,981, /14/2018 5,000, ,000, TRC US Treasury Note 09/20/2017 4,995, /15/2018 5,000, ,000, TRC US Treasury Note 02/01/2018 4,999, /31/2018 5,000, ,000, TRC US Treasury Note 02/01/2018 4,985, /31/2018 5,000, ,000, FAC Federal Home Loan Bank 02/12/2018 4,978, /16/2019 5,000, ,000, FAC Federal Home Loan Bank 02/12/2018 4,997, /12/2019 5,000, ,000, FAC Federal Home Loan Bank 05/15/2018 4,957, /24/2019 5,000, ,000, FAC Federal Home Loan Bank 05/15/2018 5,143, /15/2019 5,000, ,000, Subtotal and Average 161,941, ,964, ,933, Net Maturities and Average 161,941, ,964, ,933, Portfolio FLMD AP Run Date: 06/08/ :39 IM (PRF_IM) Report Ver

26 The Town of Flower Mound Texas Compliance Details Sorted by Issuer May 31, 2018 Town of Flower Mound 2121 Cross Timbers Road Flower Mound, Texas (972) Investment Maturity Call Current Market Market CUSIP Investment # Fund Investment Type Class Par Value Date Date Rate Price Date Market Value Book Value Issuer: Federal Home Loan Bank DT Federal Agency Coupon Securities Held 5,000, /08/ /31/2018 4,998, ,000, A8BD Federal Agency Coupon Securities Held 5,000, /29/ /31/2018 4,995, ,998, A5Y Federal Agency Coupon Securities Held 5,000, /16/ /31/2018 4,993, ,999, ACAH Federal Agency Coupon Securities Held 5,000, /21/ /31/2018 4,989, ,999, AAE Federal Agency Coupon Securities Held 5,000, /16/ /31/2018 4,968, ,978, ABAN Federal Agency Coupon Securities Held 5,000, /24/ /31/2018 4,952, ,957, X72S Federal Agency Coupon Securities Held 5,000, /15/ /31/2018 5,139, ,143, ADNE Federal Agency Coupon Securities Tradi 5,000, /12/ /31/2018 4,983, ,997, Subtotal 40,000, ,022, ,073, Issuer: Federal Home Loan Bank C Federal Agency Disc. -Amortizing Held 5,000, /20/ /31/2018 4,977, ,986, Subtotal 5,000, ,977, ,986, Issuer: Fede Agricultural Mort Corp 31315LA Federal Agency Disc. -Amortizing Held 5,000, /31/ /31/2018 4,984, ,989, LF Federal Agency Disc. -Amortizing Held 5,000, /14/ /31/2018 4,968, ,981, Subtotal 10,000, ,952, ,970, Issuer: US Treasury Note RP Treasury Coupon Securities Held 5,000, /31/ /31/2018 4,993, ,999, RY Treasury Coupon Securities Held 5,000, /31/ /31/2018 4,977, ,985, XK Treasury Coupon Securities Tradi 5,000, /15/ /31/2018 4,993, ,997, L Treasury Coupon Securities Tradi 5,000, /15/ /31/2018 4,985, ,995, Subtotal 20,000, ,950, ,977, Issuer: TexPool Investment Pool SYS TexPool Held 20,582, ,582, ,582, SYS TexPool Held 25,785, ,785, ,785, SYS TexPool Held 1,993, ,993, ,993, Subtotal 48,362, ,362, ,362, Portfolio FLMD AP Run Date: 06/08/ :48 CM (PRF_CM) Report Ver

27 The Town of Flower Mound Texas Compliance Details May 31, 2018 Page 2 CUSIP Investment Maturity Call Current Market Market Investment # Fund Investment Type Class Par Value Date Date Rate Price Date Market Value Book Value Issuer: TexSTAR SYS TexStar Avail 16,442, ,442, ,442, SYS TexStar Held 22,128, ,128, ,128, Subtotal Total 38,571, ,571, ,933, ,835, ,571, ,941, Portfolio FLMD AP Run Date: 06/08/ :48 CM (PRF_CM) Report Ver

28 The Town of Flower Mound Texas Compliance Details Sorted by Issuer April 30, 2018 Town of Flower Mound 2121 Cross Timbers Road Flower Mound, Texas (972) Investment Maturity Call Current Market Market CUSIP Investment # Fund Investment Type Class Par Value Date Date Rate Price Date Market Value Book Value Issuer: Federal Home Loan Bank DT Federal Agency Coupon Securities Held 5,000, /08/ /30/2018 4,995, ,000, A8BD Federal Agency Coupon Securities Held 5,000, /29/ /30/2018 4,991, ,996, A5Y Federal Agency Coupon Securities Held 5,000, /16/ /30/2018 4,990, ,998, ACAH Federal Agency Coupon Securities Held 5,000, /21/ /30/2018 4,987, ,999, AAE Federal Agency Coupon Securities Held 5,000, /16/ /30/2018 4,963, ,975, ADNE Federal Agency Coupon Securities Tradi 5,000, /12/ /30/2018 4,982, ,996, Subtotal 30,000, ,909, ,968, Issuer: Federal Home Loan Bank C Federal Agency Disc. -Amortizing Held 5,000, /20/ /30/2018 4,966, ,980, Subtotal 5,000, ,966, ,980, Issuer: Fede Agricultural Mort Corp 3132X0WQ Federal Agency Coupon Securities Held 5,000, /21/ /30/2018 4,997, ,000, LA Federal Agency Disc. -Amortizing Held 5,000, /31/ /30/2018 4,976, ,984, LF Federal Agency Disc. -Amortizing Held 5,000, /14/ /30/2018 4,958, ,975, Subtotal 15,000, ,931, ,959, Issuer: US Treasury Note RP Treasury Coupon Securities Held 5,000, /31/ /30/2018 4,992, ,999, RY Treasury Coupon Securities Held 5,000, /31/ /30/2018 4,973, ,982, XK Treasury Coupon Securities Tradi 5,000, /15/ /30/2018 4,990, ,995, L Treasury Coupon Securities Tradi 5,000, /15/ /30/2018 4,981, ,994, Subtotal 20,000, ,938, ,972, Issuer: TexPool Investment Pool SYS TexPool Held 28,452, ,452, ,452, SYS TexPool Held 21,752, ,752, ,752, SYS TexPool Held 1,990, ,990, ,990, Subtotal 52,195, ,195, ,195, Portfolio FLMD AP Run Date: 05/09/ :40 CM (PRF_CM) Report Ver

29 The Town of Flower Mound Texas Compliance Details April 30, 2018 Page 2 CUSIP Investment Maturity Call Current Market Market Investment # Fund Investment Type Class Par Value Date Date Rate Price Date Market Value Book Value Issuer: TexSTAR SYS TexStar Avail 19,915, ,915, ,915, SYS TexStar Held 23,095, ,095, ,095, Subtotal Total 43,011, ,011, ,207, ,954, ,011, ,088, Portfolio FLMD AP Run Date: 05/09/ :40 CM (PRF_CM) Report Ver

30 The Town of Flower Mound Texas Compliance Details Sorted by Fund May 31, 2018 Town of Flower Mound 2121 Cross Timbers Road Flower Mound, Texas (972) Investment Maturity Call Current Market Market CUSIP Investment # Fund Issuer Class Par Value Date Date Rate Price Date Market Value Book Value Fund: Operating Pooled Fun SYS TexSTAR Avail 16,442, ,442, ,442, SYS TexPool Investment Pool Held 20,582, ,582, ,582, DT Federal Home Loan Bank Held 5,000, /08/ /31/2018 4,998, ,000, A5Y Federal Home Loan Bank Held 5,000, /16/ /31/2018 4,993, ,999, LA Fede Agricultural Mort Corp Held 5,000, /31/ /31/2018 4,984, ,989, LF Fede Agricultural Mort Corp Held 5,000, /14/ /31/2018 4,968, ,981, RP US Treasury Note Held 5,000, /31/ /31/2018 4,993, ,999, RY US Treasury Note Held 5,000, /31/ /31/2018 4,977, ,985, AAE Federal Home Loan Bank Held 5,000, /16/ /31/2018 4,968, ,978, ABAN Federal Home Loan Bank Held 5,000, /24/ /31/2018 4,952, ,957, X72S Federal Home Loan Bank Held 5,000, /15/ /31/2018 5,139, ,143, ADNE Federal Home Loan Bank Tradi 5,000, /12/ /31/2018 4,983, ,997, Subtotal 87,025, ,986, ,055, Fund: Capital Projects Poo SYS TexPool Investment Pool Held 25,785, ,785, ,785, SYS TexSTAR Held 22,128, ,128, ,128, A8BD Federal Home Loan Bank Held 5,000, /29/ /31/2018 4,995, ,998, C Federal Home Loan Bank Held 5,000, /20/ /31/2018 4,977, ,986, ACAH Federal Home Loan Bank Held 5,000, /21/ /31/2018 4,989, ,999, XK US Treasury Note Tradi 5,000, /15/ /31/2018 4,993, ,997, L US Treasury Note Tradi 5,000, /15/ /31/2018 4,985, ,995, Subtotal 72,914, ,855, ,892, Fund: Riverwalk Public Imp SYS TexPool Investment Pool Held 1,993, ,993, ,993, Subtotal Total 1,993, ,993, ,933, ,835, ,993, ,941, Portfolio FLMD AP Run Date: 06/08/ :50 CM (PRF_CM) Report Ver

31 The Town of Flower Mound Texas Compliance Details Sorted by Fund April 30, 2018 Town of Flower Mound 2121 Cross Timbers Road Flower Mound, Texas (972) Investment Maturity Call Current Market Market CUSIP Investment # Fund Issuer Class Par Value Date Date Rate Price Date Market Value Book Value Fund: Operating Pooled Fun SYS TexSTAR Avail 19,915, ,915, ,915, SYS TexPool Investment Pool Held 28,452, ,452, ,452, DT Federal Home Loan Bank Held 5,000, /08/ /30/2018 4,995, ,000, A5Y Federal Home Loan Bank Held 5,000, /16/ /30/2018 4,990, ,998, LA Fede Agricultural Mort Corp Held 5,000, /31/ /30/2018 4,976, ,984, LF Fede Agricultural Mort Corp Held 5,000, /14/ /30/2018 4,958, ,975, RP US Treasury Note Held 5,000, /31/ /30/2018 4,992, ,999, RY US Treasury Note Held 5,000, /31/ /30/2018 4,973, ,982, AAE Federal Home Loan Bank Held 5,000, /16/ /30/2018 4,963, ,975, ADNE Federal Home Loan Bank Tradi 5,000, /12/ /30/2018 4,982, ,996, Subtotal 88,368, ,200, ,281, Fund: Capital Projects Poo SYS TexPool Investment Pool Held 21,752, ,752, ,752, SYS TexSTAR Held 23,095, ,095, ,095, X0WQ Fede Agricultural Mort Corp Held 5,000, /21/ /30/2018 4,997, ,000, A8BD Federal Home Loan Bank Held 5,000, /29/ /30/2018 4,991, ,996, C Federal Home Loan Bank Held 5,000, /20/ /30/2018 4,966, ,980, ACAH Federal Home Loan Bank Held 5,000, /21/ /30/2018 4,987, ,999, XK US Treasury Note Tradi 5,000, /15/ /30/2018 4,990, ,995, L US Treasury Note Tradi 5,000, /15/ /30/2018 4,981, ,994, Subtotal 74,848, ,763, ,816, Fund: Riverwalk Public Imp SYS TexPool Investment Pool Held 1,990, ,990, ,990, Subtotal Total 1,990, ,990, ,207, ,954, ,990, ,088, Portfolio FLMD AP Run Date: 05/09/ :40 CM (PRF_CM) Report Ver

32 Section 4 Town of Flower Mound Comprehensive Monthly Financial Report This section contains an analysis of legal fee expenses. Due to the timing of legal invoices the reporting of information will be one month behind. Special Interests

33 THE YEAR-TO-DATE LEGAL FEE REPORT GENERAL LEGAL EXPENSES VARIANCE CY ACTUAL/ VARIANCE CY ACTUAL/ YEAR YEAR ACTUAL TO CY PROJECTED YEAR ACTUAL TO PY ACTUAL MONTH BUDGETED ACTUAL BUDGET % VARIANCE ACTUAL PRIOR YEAR % VARIANCE OCTOBER $ 58,710 $ 71,108 $ (12,398) % $ 46,489 $ (24,619) % NOVEMBER 49,170 63,761 (14,591) % 54,699 (9,062) % DECEMBER 47,051 64,470 (17,419) % 48,099 (16,371) % JANUARY 49,901 54,563 (4,662) -9.34% 65,614 11, % FEBRUARY 43,446 62,352 (18,906) % 52,303 (10,049) % MARCH 45,954 64,882 (18,928) % 59,743 (5,139) -8.60% APRIL 52,998 66,534 (13,536) % 51,608 (14,926) % MAY 54,989 - n/a n/a 59,005 n/a n/a JUNE 51,930 - n/a n/a 52,384 n/a n/a JULY 57,158 - n/a n/a 54,408 n/a n/a AUGUST 54,945 - n/a n/a 62,759 n/a n/a SEPTEMBER 57,450 - n/a n/a 61,022 n/a n/a $ 623,702 $ 447,670 $ (100,440) % $ 668,133 $ (69,115) % (Total to Date) (Y-T-D Variance) (Y-T-D Variance) Note: General Expenses include: General Services, Flat Fee.

34 THE YEAR-TO-DATE LEGAL FEE REPORT LAWSUITS and SPECIAL PROJECTS VARIANCE CY ACTUAL/ VARIANCE CY ACTUAL/ YEAR YEAR ACTUAL TO CY PROJECTED YEAR ACTUAL TO PY ACTUAL MONTH BUDGETED ACTUAL BUDGET % VARIANCE ACTUAL PRIOR YEAR % VARIANCE OCTOBER $ 17,537 $ 113 $ 17, % $ 1,850 $ 1, % NOVEMBER 14,687 3,183 11, % 7,814 4, % DECEMBER 14,054 3,495 10, % 1,536 (1,959) % JANUARY 14,905 22,441 (7,536) % 3,015 (19,426) % FEBRUARY 12,977 20,904 (7,927) % 633 (20,271) % MARCH 13,726 3,589 10, % 2,102 (1,487) % APRIL 15,830 1,406 14, % 11,687 10, % MAY 16,425 - n/a n/a 14,511 n/a n/a JUNE 15,512 - n/a n/a 1,545 n/a n/a JULY 17,073 - n/a n/a 955 n/a n/a AUGUST 16,412 - n/a n/a 280 n/a n/a SEPTEMBER 17,160 - n/a n/a 1,571 n/a n/a $ 186,298 $ 55,131 $ 48, % $ 47,499 $ (26,494) % (Total to Date) (Y-T-D Variance) (Y-T-D Variance) Lawsuits from current and previous year include the following active/inactive lawsuits vs. Town: Keystone Exploration, Terrell, Williams, GTE SW & Jet Underground, Bob White Lane, Council Investigation, Reginald Rembert, Deevers,Victor Vega.

35 THE YEAR-TO-DATE LEGAL FEE REPORT TOTAL EXPENDITURES VARIANCE CY ACTUAL/ VARIANCE CY ACTUAL/ YEAR YEAR ACTUAL TO CY PROJECTED YEAR ACTUAL TO PY ACTUAL MONTH BUDGETED ACTUAL BUDGET % VARIANCE ACTUAL PRIOR YEAR % VARIANCE OCTOBER $ 76,247 $ 71,221 $ 5, % $ 48,339 $ (22,882) % NOVEMBER 63,857 66,944 (3,087) -4.83% 62,513 (4,431) -7.09% DECEMBER 61,105 67,965 (6,860) % 49,635 (18,330) % JANUARY 64,806 77,004 (12,198) % 68,629 (8,375) % FEBRUARY 56,423 83,256 (26,833) % 52,936 (30,320) % MARCH 59,680 68,471 (8,791) % 61,845 (6,626) % APRIL 68,828 67, % 63,295 (4,645) -7.34% MAY 71,414 - n/a n/a 73,516 n/a n/a JUNE 67,442 - n/a n/a 53,929 n/a n/a JULY 74,231 - n/a n/a 55,363 n/a n/a AUGUST 71,357 - n/a n/a 63,039 n/a n/a SEPTEMBER 74,610 - n/a n/a 62,593 n/a n/a $ 810,000 $ 502,801 $ (51,855) % $ 715,632 $ (95,609) % (Total to Date) (Y-T-D Variance) (Y-T-D Variance) Ordinary Legal Expenses for Capital Improvement Projects (CIP) and Special Revenue Funds are not included in the above totals. Ordinary CIP Legal Expenses Fiscal Y-T-D (500's & 600's): Special Revenue Legal Expenses Fiscal Y-T-D (300's): $ $ 2,

36 LEGAL FEE REPORT GENERAL LEGAL EXPENSES Comparison of Legal Expenses April 2017 to April 2018 Year-To-Date Comparison by Division Fiscal Year 2017 to 2018 April April VARIANCE CY ACTUAL/ Variance ACTUAL TO PY ACTUAL Y-T-D as of Y-T-D as of Actual to DIVISION ACTUAL ACTUAL PRIOR YEAR % VARIANCE April April Prior Year Town Secretary/Legislative $ 19,127 $ 30,504 $ (11,377) % General $ 378,555 $ 447,670 $ (69,115) Town Manager's Office 7,812 1,768 6, % Lawsuits 28,637 55,131 (26,494) Development Services 3,827 7,134 (3,307) % Economic Development 3,385 6,383 (2,998) % Total $ 407,192 $ 502,801 $ (95,609) Financial Services (554) % Human Resources 555 3,110 (2,555) % Information Technology % Legal Expenses Purchasing % Comparison of Municipal Court 5,440 6,783 (1,343) % April 2017 to April 2018 Community Services Admin 509 1,873 (1,364) % Variance Library Services 2, , % Actual to Recreation & Leisure Mgmt ,175 (2,036) % April April Prior Year Park Operations % General $ 51,608 $ 66,534 $ (14,926) Animal Services % Lawsuits 11,687 1,406 10,281 Police Services 1, , % Fire Services 139 1,526 (1,387) % Total $ 63,295 $ 67,940 $ (4,645) Facilities Management % Code Enf/Environmental Services 1, % CIP (Operating) % Engineering 3,135 2, % Public Works 1, , % Public Affairs % General Government Legal % Total $ 51,608 $ 66,534 $ (14,926) % Note: General Expenses include: General Services, Flat Fee.