HomeMy WebLinkAboutFY 20 - 3rd Quarter A Report_RedactedFINANCIAL REPORT AND INVESTMENT REPORT
For the Quarter Ended June 30, 2020
Table of Contents
Executive Summary ....................................................................................................................................... 1
General Fund Schedule ................................................................................................................................. 8
Electric Fund Schedule ................................................................................................................................ 11
Water Services Fund Schedule .................................................................................................................... 13
Joint Services Fund Schedule ....................................................................................................................... 15
Council Discretionary Fund Schedule .......................................................................................................... 17
Convention & Visitors Bureau Fund Schedule ............................................................................................. 18
Airport Fund Schedule ................................................................................................................................. 19
Georgetown Transportation Enhancement Corporation Fund Schedule .................................................... 21
Georgetown Economic Development Corporation Fund Schedule ............................................................. 23
Quarterly Investment Report - City ............................................................................................................. 25
Quarterly Investment Report - GTEC ........................................................................................................... 50
Quarterly Investment Report - GEDCO ........................................................................................................ 56
Grant Activities ............................................................................................................................................ 62
Long-term Commitments and Other Unfunded Liabilities .......................................................................... 64
COG - General Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumberance)
Year-End Projection
Beginning Fund Balance 14,263,750 - 14,263,750 14,263,750
Revenue
Administrative Charges 2,707,730 226,478 2,038,298 2,707,730
Other Revenue 2,638,420 388,162 2,329,987 2,336,338
Development and Permit
Fees
3,804,250 506,172 3,916,550 4,685,897
Franchise Fees 5,890,270 25,630 3,521,740 5,892,057
Parks and Rec Fees 2,833,100 44,499 1,241,019 1,476,005
Property Tax 14,900,000 73,903 15,405,838 14,915,295
ROI 8,060,000 - 5,366,282 8,433,100
Sales Tax 17,861,875 1,381,130 10,566,870 17,943,750
Sanitation Revenue 9,933,450 264,177 6,984,361 10,118,450
Fire/EMS revenue 7,176,152 1,144,756 5,044,344 6,793,885
Transfers In 373,100 - 303,634 373,100
Revenue Total 76,178,347 4,054,907 56,718,924 75,675,607
8
COG - General Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumberance)
Year-End Projection
Expense
Administrative Services 1,933,852 130,434 1,263,996 1,675,228
Animal Services 989,508 66,069 701,362 967,657
Arts & Culture 36,729 13,571 34,801 53,694
City Council 177,608 18,825 127,962 169,049
City Secretary 819,283 47,079 574,389 761,473
Code Enforcement 524,383 28,153 305,508 439,142
Communications 684,453 42,411 376,050 608,209
Community Services 265,738 20,068 183,223 253,593
Environmental Services 8,532,355 685,679 5,590,924 8,480,012
Fire Emergency Services 14,312,200 1,068,232 10,694,186 14,426,111
Fire Support Services 3,160,345 242,392 2,634,628 3,351,268
Fire EMS 2,864,866 174,772 1,827,682 2,532,757
Garey Park 976,612 62,914 685,449 914,087
General Gov't Contracts 3,443,750 291,454 3,276,183 4,339,251
Inspections 1,347,040 98,866 972,978 1,282,436
Library 2,788,513 227,196 2,127,628 2,702,504
Municipal Court 664,063 39,880 465,557 605,084
Parks 2,781,344 195,762 2,013,134 2,640,419
Parks Admin 624,953 (12,852) 464,247 619,947
Planning 1,937,189 102,773 1,316,850 1,656,891
Police Admin 2,632,662 225,834 1,867,253 2,659,080
Police Operations 13,821,765 1,023,412 10,148,186 13,390,524
Public Works 1,469,053 43,668 727,482 1,235,203
Rec Programs 1,370,708 61,184 565,071 1,098,537
Recreation 2,798,284 263,818 2,049,482 2,686,073
Streets 5,261,013 255,281 3,468,266 4,071,354
Tennis Center 464,348 25,171 270,272 351,183
Transfer Out 524,860 - 457,860 524,860
Expense Total 77,207,474 5,442,047 55,190,608 74,495,625
Excess (Deficiency) of Total
Revenue over Total
Requirements
(982,627) (1,386,450) 1,529,608 1,179,982
Ending Fund Balance 13,234,623 (1,387,140) 15,792,065 15,443,732
9
COG - General Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumberance)
Year-End Projection
Reserves
Contingency Reserve 11,414,340 - 11,414,340 11,414,340
Economic Stability Reserve 1,480,283 - 1,480,283 1,759,446
Benefit Payout Reserve 340,000 - 340,000 340,000
Total Reserved Fund
Balance
13,234,623 - 13,234,623 13,513,786
Available Fund Balance - - 2,557,442 1,929,946
10
COG - Electric Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Beginning Fund Balance 6,614,742 - 6,614,742 6,614,742
Operating Revenue
Electric Revenue 85,509,803 3,015,263 54,061,655 82,530,271
Interest 40,000 829 5,968 10,000
Other Revenue 4,498,616 32,291 2,577,297 4,515,348
Developer Contributions 600,000 16,345 2,475,250 2,000,000
Operating Revenue Total 90,648,419 3,064,727 59,120,170 89,055,619
Operating Expenditures
CRR Credits (2,000,000) (34,163) (31,594) (1,698,472)
Electric Operations 20,282,587 1,394,201 15,101,499 19,448,613
Purchase Power 61,500,000 5,522,022 42,532,340 61,198,472
Transfers Out - ROI 4,500,000 - 3,063,942 4,500,000
Operating Expenditures
Total
84,282,587 6,882,060 60,666,187 83,448,613
Total Net Operations 6,365,832 (3,817,333) (1,546,018) 5,607,006
Non-Operating Revenue
Renewable Energy Credits - 224,261 602,061 602,061
Grant Revenue - - - -
Bond Proceeds 5,010,000 - 5,055,000 5,055,000
Transfers In 500,000 - - 500,000
Sale of Assets 10,000 - 12,274 10,261,000
Non-Operating Revenue
Total
5,520,000 224,261 5,669,335 16,418,061
11
PRELIMINARY
COG - Electric Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Non-Operating
Expenditures
CIP 5,110,948 40,174 1,522,401 5,010,000
Interest Expense 1,224,183 - 590,621 1,224,183
Debt Service 2,866,312 2,405 47,975 2,866,312
Non-Operating Expenditures
Total
9,201,442 42,579 2,160,997 9,100,495
Total Net Non-Operations (3,681,442) 181,682 3,508,338 7,317,566
Excess (Deficiency) of Total
Revenue Over Total
Requirements
2,684,390 (3,635,650) 1,962,320 12,924,572
Ending Fund Balance 9,299,132 (3,635,650) 8,577,062 19,539,314
Reserves
Contingency Reserve 4,142,159 - 4,142,159 4,190,234
Non-Operational Reserve - - - 13,402,019
Rate Stabilization Reserve 4,555,000 - 4,555,000 1,300,000
Total Reserved Fund
Balance
8,697,159 - 8,697,159 18,892,253
Available Fund Balance 601,973 - (120,097) 647,061
12
PRELIMINARY
*As of the time of agenda posting, the Electric Fund report is preliminary and the period not closed for June. Additional revenue accrual and ROI expenses will occur.
COG Water Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Beginning Fund Balance 92,139,373 - 92,139,373 92,139,373
Operating Revenue
Capital Recovery Fee 26,550,000 4,057,262 23,968,570 26,449,377
Interest 949,500 60,455 1,232,662 1,045,052
Irrigation Charges 310,000 37,448 261,511 310,000
Other Revenue 3,450,300 427,542 5,359,875 6,201,391
Wastewater Charges 13,298,825 358,308 10,116,116 13,500,000
Water Charges 30,869,778 965,096 19,505,217 30,881,001
Total Operating Revenue 75,428,403 5,906,111 60,443,950 78,386,821
Operating Expenses
Irrigation Operations 290,000 30,521 199,220 290,000
Transfer Out, ROI 3,300,000 - 2,509,497 3,300,000
Transfer Out 467,733 - 399,500 399,500
Wastewater Operations 771,598 50,876 662,504 741,100
Wastewater Plant
Management
3,317,076 294,832 2,811,716 3,258,422
Water Administration 23,957,200 1,377,581 17,857,646 24,910,863
Water Distribution 3,536,426 190,840 1,337,150 1,931,113
Water Operations 4,277,280 214,702 3,069,076 4,136,579
Water Plant Management 7,889,427 412,450 2,120,020 6,751,311
Total Operating Expenses 47,806,740 2,571,802 30,966,329 45,718,887
Total Net Operations 27,621,663 3,334,309 29,477,620 32,667,934
13
PRELIMINARY
COG Water Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Non-Operating Revenue
Bond Proceeds 9,300,000 - 9,375,000 9,375,000
Grant Revenue - - - -
Transfers In-Debt 104,211 - - 104,211
Sale of Assets 1,500 - 435,404 435,404
Non-Operating Revenue
Total
9,405,711 - 9,810,404 9,914,615
Non-Operating
Expenditures
Interest Expense 2,150,937 - 1,099,409 2,150,937
CIP 96,437,008 1,881,396 37,372,634 96,624,449
Debt Service 4,491,481 2,595 79,600 4,300,481
Non-Operating
Expenditures Total
103,079,426 1,883,991 38,551,643 103,075,867
Total Net Non-Operations (93,673,715) (1,883,991) (28,741,239) (93,161,252)
Excess (Deficiency) of Total
Revenue over Total
Requirements
(66,052,052) 1,450,318 736,382 (60,493,318)
Ending Fund Balance 26,087,321 1,450,318 92,875,755 31,646,055
Reserves
Contingency Reserve 9,480,045 - 9,480,045 9,480,045
Non-Operating Contingency 10,000,000 - 10,000,000 10,000,000
Total Reserved Fund
Balance
19,480,045 - 19,480,045 19,480,045
Available Fund Balance 6,607,276 -73,395,710 12,166,010
14
PRELIMINARY
*As of the time of agenda posting, the Water Fund report is preliminary and the period not closed for June. Additional revenue accrual and ROI expenses will occur.
COG - Joint Services Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Beginning Fund Balance 1,415,206 - 1,415,206 1,415,206
Revenue
Administrative Charges 17,691,145 1,391,067 13,101,969 17,640,111
Interest 25,000 1,100 17,353 23,620
Other 103,000 100,501 355,485 96,075
Transfers In 313,405 - 295,059 331,751
Revenue Total 18,132,550 1,492,668 13,769,866 18,091,557
Expense
Accounting 1,128,153 77,278 846,969 1,124,962
Business System Services 1,198,892 75,790 852,360 1,043,437
Citywide HR 1,331,061 43,162 870,281 1,087,621
Conservation 894,920 51,626 420,015 731,365
Customer Care 5,115,459 395,571 3,930,361 5,020,817
Economic Development 687,049 42,436 450,160 605,918
Finance Administration 1,050,021 52,759 764,461 963,711
Human Resources 1,447,934 94,114 957,980 1,320,069
Legal 1,063,008 66,389 751,205 993,354
Non-departmental 741,193 72,606 1,054,320 1,089,171
Organizational and
Operational Excellence
329,898 22,055 197,025 299,152
Purchasing 923,989 61,418 656,036 888,375
Systems Engineering 2,565,963 159,756 1,821,930 2,306,340
Expense Total 18,477,541 1,214,960 13,573,104 17,474,292
Excess (Deficiency) of Total
Revenue over Total
Requirements
(344,991) 277,708 196,762 617,265
Ending Fund Balance 1,070,215 277,708 1,611,968 2,032,471
Reserves
15
Contingency Reserve 1,070,215 - 1,070,215 1,070,216
Total Reserve Balance 1,070,215 - 1,070,215 1,070,216
Available Fund Balance 0 541,753 962,255
16
Council Discretionary Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Beginning Fund Balance 109,415 0 109,415 109,383
Revenue
Interest 2,500 64 1,345 1,789
Transfers In 0 0 0 -
Revenue Total 2,500 64 1,345 1,789
Expense
Transfers Out 0 0 0 -
Expense Total 0 0 0 -
Excess (Deficiency) of Total
Revenue over Total
Requirements
2,500 64 1,345 1,789
Ending Fund Balance 111,915 64 110,760 111,172
Available Fund Balance 111,915 0 110,760 111,172
17
Convention & Visitors Bureau (CVB) Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Beginning Fund Balance 1,551,889 - 1,551,889 1,551,889
Revenue
Hotel/Motel Occupancy Tax
Revenues
1,300,000 36,821 692,947 900,000
Interest 18,000 912 17,858 20,594
Other 18,500 649 34,639 36,859
Poppy Festival 144,283 - 87,261 91,155
Revenue Total 1,480,783 38,382 832,704 1,048,608
Expense
Operations 823,367 (37,360) 487,252 790,897
Personnel 388,953 24,116 296,534 354,071
Poppy Festival 211,700 27,703 57,025 149,978
Transfers Out 28,634 - 28,634 28,634
Expense Total 1,452,654 14,458 869,445 1,323,580
Excess (Deficiency) of Total
Revenue over Total
Requirements
28,129 23,923 (36,741) (274,972)
Ending Fund Balance 1,580,018 23,923 1,515,148 1,276,917
Reserves
Contingency Reserve 273,376 - 273,376 273,376
Capital Reserve 1,203,635 - 1,203,635 -
Total Reserved Fund
Balance
1,477,011 - 1,477,011 -
Available Fund Balance 103,007 - 38,137 1,003,541
18
COG - Airport Operations Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year To Date
(w/Encumbrance)
Year-End Projections
Beginning Fund Balance 1,259,036 - 1,259,036 1,259,036
Operating Revenue
Fuel and Terminal Sales 2,901,500 166,148 1,678,717 2,502,000
Interest and Other 51,000 734 15,491 52,000
Grant Revenue - - - 153,000
Leases and Rentals 928,500 76,586 691,018 906,500
Operating Revenue Total 3,881,000 243,468 2,385,226 3,613,500
Operating Expenditures
Operations-Fuel 2,272,000 132,666 2,203,687 2,204,510
Operations-Non Fuel 876,327 58,431 562,623 802,664
Personnel 501,098 30,287 333,022 475,573
Operating Expenditures
Total
3,649,425 221,384 3,099,332 3,482,747
Total Net Operations 231,575 22,083 (714,106) 130,753
Non-Operating Revenue
Bond Interest - 9 593 600
Non-Operating Revenue
Total
- 9 593 600
Non-Operating
Expenditures
Buildings & Improvements - - - -
Debt Service 101,358 - - 86,358
Interest Expense 60,062 - 29,638 60,062
Furniture & Equipment 22,000 - 8,111 28,000
Improvements 266,566 1,286 17,835 17,835
Pavement Upgrades 35,000 - - -
19
COG - Airport Operations Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year To Date
(w/Encumbrance)
Year-End Projections
Non-Operating Expenditure
Total
484,986 1,286 55,584 192,255
Total Net Non-Operations (484,986) (1,277) (54,991) (191,655)
Excess (Deficiency) of Total
Revenue over Total
Requirements
(253,411) 20,806 (769,097) (60,902)
Ending Fund Balance 1,005,625 20,806 489,939 1,198,134
Reserves
Contingency Reserve 256,021 - 256,021 256,021
Debt Service Reserve 143,431 - 143,431 143,431
Total Reserved Fund
Balance
399,452 - 399,452 399,452
Available Fund Balance 606,173 - 90,487 798,682
20
COG - Georgetown Transportation Enhancement Corporation Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Beginning Fund Balance 21,649,668 - 21,649,668 21,649,668
Operating Revenue
Sales Tax 7,937,500 613,730 4,695,507 7,975,000
Interest 230,000 11,673 250,899 285,918
Other Revenue - - - 0
Operating Revenue Total 8,167,500 625,403 4,946,406 8,260,918
Operating Expenditures
Administrative Support 410,223 34,119 307,067 410,223
Operating Expenditures
Total
410,223 34,119 307,067 410,223
Total Net Operations 7,757,277 591,284 4,639,339 7,850,695
Non-Operating Revenue
Bond Proceeds 4,700,000 - 4,740,000 4,740,000
Transfers In - - - 0
Non-Operating Revenue
Total
4,700,000 - 4,740,000 4,740,000
Non-Operating
Expenditure
Strategic Partnerships 5,734,375 - - 2,000,000
CIP Expense 13,509,855 (98,278) 961,756 15,259,855
Debt Service 3,333,921 485 528,060 3,333,921
Non-Operating Expenditure
Total
22,578,151 (97,793) 1,489,816 20,593,776
Total Net Non-Operations (17,878,151) 97,793 3,250,184 (15,853,776)
Excess (Deficiency) of Total
Revenue over Total
Requirements
(10,120,874) 689,078 7,889,523 (8,003,081)
Ending Fund Balance 11,528,794 689,078 29,539,191 13,646,587
21
COG - Georgetown Transportation Enhancement Corporation Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Reserves
Contingency Reserve 1,984,375 - 1,984,375 1,984,375
Debt Service Reserve 3,225,642 - 3,225,642 3,602,792
Total Reserved Fund
Balance
5,210,017 - 5,210,017 5,587,167
Available Fund Balance 6,318,777 - 24,329,174 8,059,420
22
COG - GEDCO Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Beginning Fund Balance 8,138,781 - 8,138,781 8,138,781
Operating Revenue
Interest 76,000 2,315 84,934 92,060
Sales Tax 1,984,375 153,433 1,173,877 1,993,750
Other Revenue - - - -
Operating Revenue Total 2,060,375 155,748 1,258,811 2,085,810
Operating Expenditures
Promotional & Marketing
Program
108,534 3,150 69,604 100,000
Contractual Services 30,000 - 20,080 24,000
Administrative Expenses 244,771 20,398 183,578 244,771
Travel & Training 500 - 92 -
Supplies - - - -
Operating Expenditures
Total
573,805 23,548 273,354 368,771
Total Net Operations 1,486,570 132,200 985,457 1,717,039
Non-Operating Revenue
Bond Proceeds - - - -
Bond Premium - - - -
Transfers In - - - -
Non-Operating Revenue
Total
- - - -
Non-Operating
Expenditures
Principal Reduction 83,695 - - 83,695
Debt Service 207,669 - 41,334 207,669
23
COG - GEDCO Fund Report
Period FY 2020 - Jun
Ledger Account Approved Budget Current Period Year to Date
(w/Encumbrance)
Year-End Projection
Interest Expense 20,516 - - 20,516
Strategic Partnership 8,613,855 204,642 804,551 700,000
Non-Operating Expenditures
Total
8,925,735 204,642 845,886 1,011,880
Total Net Non-Operations (8,925,735) (204,642) (845,886) (1,011,880)
Excess (Deficiency) of Total
Revenue over Total
Requirements
(7,439,165) (72,442) 139,572 705,159
Ending Fund Balance 699,616 (72,442) 8,278,353 8,843,940
Reserves
Contingency Reserve 489,298 - 489,298 489,298
Non-Operational Reserve 210,318 - 210,318 200,169
Bond Proceeds Reserve - - - -
Total Reserved Fund
Balance
699,616 - 699,616 689,467
Available Fund Balance 0 - 7,578,737 8,154,473
24
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Demand Accounts 10,852,258$ 10,852,258 9,511,536$ 9,511,536$ 0.22%
NOW/MMA 21,716,013 21,716,013 21,787,639 21,787,639 1.33%
Pools 104,846,720 104,846,720 135,563,839 135,563,839 0.20%
CDs/Securities 83,294,855 83,323,230 83,129,298 83,138,997 1.53%
Totals 220,709,845$ 220,738,220$ 249,992,313$ 250,002,012$ 0.74%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.74%Total Portfolio 1.35%
Rolling Three Month Treasury 0.14%Rolling Three Month Treasury 0.97%
Rolling Six Month Treasury 0.67%Rolling Six Month Treasury 1.28%
TexPool 0.22%TexPool 0.95%
Bank Fees Offset
4,696$
Interest income provided in separate report.25,337$
March 31, 2020
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
Quarterly Bank Fees Offset
Year-to-date Bank Fees Offset
June 30, 2020
Valley View Consulting, L.L.C.
126
City - Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
JPMorgan Chase Cash (3)0.22%07/01/20 06/30/20 9,511,536$ 9,511,536$ 1.00 9,511,536$ 1 0.22%
JPMorgan Chase MMA 0.05%07/01/20 06/30/20 433,929 433,929 1.00 433,929 1 0.05%
Veritex Bank MMA 0.30%07/01/20 06/30/20 3,208,928 3,208,928 1.00 3,208,928 1 0.30%
NexBank MMA 0.50%07/01/20 06/30/20 7,346,749 7,346,749 1.00 7,346,749 1 0.50%
Origin Bank MMA (4)2.25%07/01/20 06/30/20 10,798,033 10,798,033 1.00 10,798,033 1 2.25%
TexPool AAAm 0.22%07/01/20 06/30/20 45,475,841 45,475,841 1.00 45,475,841 1 0.22%
TexSTAR AAAm 0.20%07/01/20 06/30/20 90,087,998 90,087,998 1.00 90,087,998 1 0.20%
East West Bank CD 2.48%07/15/20 04/15/19 5,152,781 5,152,781 100.00 5,152,781 15 2.51%
East West Bank CD 1.72%08/04/20 02/04/20 6,546,565 6,546,565 100.00 6,546,565 35 1.73%
R Bank CD 2.10%08/16/20 08/16/19 2,031,778 2,031,778 100.00 2,031,778 47 2.12%
R Bank CD 1.17%08/16/20 02/26/20 1,013,818 1,013,818 100.00 1,013,818 47 1.17%
Prosperity Bank CD 2.66%08/21/20 02/22/19 6,215,859 6,215,859 100.00 6,215,859 52 2.69%
T-Bill Aaa/AA+0.00%10/08/20 10/17/19 2,500,000 2,489,236 99.96 2,498,935 100 1.60%
Independent Bank CD 1.85%10/18/20 10/18/19 2,523,205 2,523,205 100.00 2,523,205 110 1.86%
East West Bank CD 0.55%11/09/20 05/08/20 3,002,442 3,002,442 100.00 3,002,442 132 0.55%
Independent Bank CD 2.56%11/10/20 05/10/19 1,025,893 1,025,893 100.00 1,025,893 133 2.58%
R Bank CD 1.76%11/19/20 02/19/20 2,510,767 2,510,767 100.00 2,510,767 142 1.78%
Southside Bank CD 1.72%11/19/20 11/19/19 3,244,620 3,244,620 100.00 3,244,620 142 1.73%
East West Bank CD 1.71%12/09/20 12/09/19 4,038,601 4,038,601 100.00 4,038,601 162 1.72%
East West Bank CD 1.71%01/08/21 01/08/20 3,024,696 3,024,696 100.00 3,024,696 192 1.72%
Independent Bank CD 1.70%02/05/21 02/05/20 3,112,959 3,112,959 100.00 3,112,959 220 1.71%
Independent Bank CD 0.60%02/08/21 05/08/20 11,000,000 11,000,000 100.00 11,000,000 223 0.60%
R Bank CD 1.81%02/19/21 02/19/20 4,017,891 4,017,891 100.00 4,017,891 234 1.83%
Bank OZK CD 1.72%02/26/21 02/27/20 6,034,021 6,034,021 100.00 6,034,021 241 1.73%
Independent Bank CD 1.80%04/22/21 10/22/19 4,137,022 4,137,022 100.00 4,137,022 296 1.81%
Bank OZK CD 0.70%05/10/21 05/08/20 12,007,144 12,007,144 100.00 12,007,144 314 0.70%
250,003,077$ 249,992,313$ 250,002,012$ 58 0.74%
(1)(2)
June 30, 2020
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.
(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.
(4) Origin Bank MMA - Interest rate fixed until August 2020.
(3) Earnings Credit - The City's depository accounts provide an earnings credit on balances which is used to offset bank fees.
Valley View Consulting, L.L.C.328
City - Book Value Comparison
Coupon/Maturity Face Amount/Purchases/Sales/Adjust/Face Amount/
Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value
JPMorgan Chase Cash 0.22%07/01/20 10,852,258$ 10,852,258$ –$ (1,340,722)$ 9,511,536$ 9,511,536$
JPMorgan Chase MMA 0.05%07/01/20 433,875 433,875 54 433,929 433,929
Veritex Bank MMA 0.30%07/01/20 3,205,333 3,205,333 3,595 3,208,928 3,208,928
NexBank MMA 0.50%07/01/20 7,337,623 7,337,623 9,126 7,346,749 7,346,749
Origin Bank MMA (4)2.25%07/01/20 10,739,181 10,739,181 58,852 10,798,033 10,798,033
TexPool 0.22%07/01/20 38,781,634 38,781,634 6,694,207 45,475,841 45,475,841
TexSTAR 0.20%07/01/20 66,065,086 66,065,086 24,022,913 90,087,998 90,087,998
East West Bank CD 2.62%04/01/20 5,252,290 5,252,290 (5,252,290)– –
T-Bill 0.00%04/16/20 2,500,000 2,498,236 (2,498,236)– –
Southside Bank CD 1.82%04/17/20 2,514,336 2,514,336 (2,514,336)– –
LegacyTexas Bank CD 2.91%05/06/20 4,157,776 4,157,776 (4,157,776)– –
T-Bill 0.00%05/07/20 4,900,000 4,892,333 (4,892,333)– –
Southside Bank CD 2.47%05/11/20 3,056,381 3,056,381 (3,056,381)– –
BBVA Bank CD 2.51%06/20/20 4,076,022 4,076,022 (4,076,022)– –
East West Bank CD 2.48%07/15/20 5,121,021 5,121,021 31,760 5,152,781 5,152,781
East West Bank CD 1.72%08/04/20 6,518,552 6,518,552 28,012 6,546,565 6,546,565
R Bank CD 2.10%08/16/20 2,021,284 2,021,284 10,493 2,031,778 2,031,778
R Bank CD 1.17%08/16/20 1,010,897 1,010,897 2,921 1,013,818 1,013,818
Prosperity Bank CD 2.66%08/21/20 6,174,483 6,174,483 41,377 6,215,859 6,215,859
T-Bill 0.00%10/08/20 2,500,000 2,479,441 9,795 2,500,000 2,489,236
Independent Bank CD 1.85%10/18/20 2,511,652 2,511,652 11,553 2,523,205 2,523,205
East West Bank CD 0.55%11/09/20 – – 3,002,442 3,002,442 3,002,442
Independent Bank CD 2.56%11/10/20 1,019,475 1,019,475 6,418 1,025,893 1,025,893
R Bank CD 1.76%11/19/20 2,500,000 2,500,000 10,767 2,510,767 2,510,767
Southside Bank CD 1.72%11/19/20 3,230,917 3,230,917 13,703 3,244,620 3,244,620
East West Bank CD 1.71%12/09/20 4,021,420 4,021,420 17,181 4,038,601 4,038,601
East West Bank CD 1.71%01/08/21 3,011,829 3,011,829 12,867 3,024,696 3,024,696
Independent Bank CD 1.70%02/05/21 3,100,000 3,100,000 12,959 3,112,959 3,112,959
Independent Bank CD 0.60%02/08/21 – – 11,000,000 11,000,000 11,000,000
R Bank CD 1.81%02/19/21 4,000,000 4,000,000 17,891 4,017,891 4,017,891
Bank OZK CD 1.72%02/26/21 6,007,921 6,007,921 26,099 6,034,021 6,034,021
Independent Bank CD 1.80%04/22/21 4,118,590 4,118,590 18,432 4,137,022 4,137,022
Bank OZK CD 0.70%05/10/21 – – 12,007,144 12,007,144 12,007,144
TOTAL 220,739,836$ 220,709,845$ 57,070,561$ (27,788,094)$ 250,003,077$ 249,992,313$
March 31, 2020 June 30, 2020
Valley View Consulting, L.L.C.530
City - Market Value Comparison
Maturity Face Amount/Market Qtr to Qtr Face Amount/Market
Description Date Par Value Price Market Value Change Par Value Price Market Value
JPMorgan Chase Cash 07/01/20 10,852,258$ 1.00 10,852,258$ (1,340,722)$ 9,511,536$ 1.00 9,511,536$
JPMorgan Chase MMA 07/01/20 433,875 1.00 433,875 54 433,929 1.00 433,929
Veritex Bank MMA 07/01/20 3,205,333 1.00 3,205,333 3,595 3,208,928 1.00 3,208,928
NexBank MMA 07/01/20 7,337,623 1.00 7,337,623 9,126 7,346,749 1.00 7,346,749
Origin Bank MMA (4)07/01/20 10,739,181 1.00 10,739,181 58,852 10,798,033 1.00 10,798,033
TexPool 07/01/20 38,781,634 1.00 38,781,634 6,694,207 45,475,841 1.00 45,475,841
TexSTAR 07/01/20 66,065,086 1.00 66,065,086 24,022,913 90,087,998 1.00 90,087,998
East West Bank CD 04/01/20 5,252,290 100.00 5,252,290 (5,252,290)– –
T-Bill 04/16/20 2,500,000 100.00 2,499,923 (2,499,923)– –
Southside Bank CD 04/17/20 2,514,336 100.00 2,514,336 (2,514,336)– –
LegacyTexas Bank CD 05/06/20 4,157,776 100.00 4,157,776 (4,157,776)– –
T-Bill 05/07/20 4,900,000 99.99 4,899,686 (4,899,686)– –
Southside Bank CD 05/11/20 3,056,381 100.00 3,056,381 (3,056,381)– –
BBVA Bank CD 06/20/20 4,076,022 100.00 4,076,022 (4,076,022)– –
East West Bank CD 07/15/20 5,121,021 100.00 5,121,021 31,760 5,152,781 100.00 5,152,781
East West Bank CD 08/04/20 6,518,552 100.00 6,518,552 28,012 6,546,565 100.00 6,546,565
R Bank CD 08/16/20 2,021,284 100.00 2,021,284 10,493 2,031,778 100.00 2,031,778
R Bank CD 08/16/20 1,010,897 100.00 1,010,897 2,921 1,013,818 100.00 1,013,818
Prosperity Bank CD 08/21/20 6,174,483 100.00 6,174,483 41,377 6,215,859 100.00 6,215,859
T-Bill 10/08/20 2,500,000 99.95 2,498,775 160 2,500,000 99.96 2,498,935
Independent Bank CD 10/18/20 2,511,652 100.00 2,511,652 11,553 2,523,205 100.00 2,523,205
East West Bank CD 11/09/20 – – 3,002,442 3,002,442 100.00 3,002,442
Independent Bank CD 11/10/20 1,019,475 100.00 1,019,475 6,418 1,025,893 100.00 1,025,893
R Bank CD 11/19/20 2,500,000 100.00 2,500,000 10,767 2,510,767 100.00 2,510,767
Southside Bank CD 11/19/20 3,230,917 100.00 3,230,917 13,703 3,244,620 100.00 3,244,620
East West Bank CD 12/09/20 4,021,420 100.00 4,021,420 17,181 4,038,601 100.00 4,038,601
East West Bank CD 01/08/21 3,011,829 100.00 3,011,829 12,867 3,024,696 100.00 3,024,696
Independent Bank CD 02/05/21 3,100,000 100.00 3,100,000 12,959 3,112,959 100.00 3,112,959
Independent Bank CD 02/08/21 – – 11,000,000 11,000,000 100.00 11,000,000
R Bank CD 02/19/21 4,000,000 100.00 4,000,000 17,891 4,017,891 100.00 4,017,891
Bank OZK CD 02/26/21 6,007,921 100.00 6,007,921 26,099 6,034,021 100.00 6,034,021
Independent Bank CD 04/22/21 4,118,590 100.00 4,118,590 18,432 4,137,022 100.00 4,137,022
Bank OZK CD 05/10/21 – – 12,007,144 12,007,144 100.00 12,007,144
TOTAL 220,739,836$ 220,738,220$ 29,263,791$ 250,003,077$ 250,002,012$
March 31, 2020 June 30, 2020
Valley View Consulting, L.L.C.631
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$
JPMorgan Chase MMA 433,929 433,929 – – – –
Veritex Bank MMA 3,208,928 3,208,928 – – – –
NexBank MMA 7,346,749 7,346,749 – – – –
Origin Bank MMA 10,798,033 4,080,098 – – – –
TexPool 45,475,841 45,475,841 – – – –
TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153
East West Bank CD 07/15/20 5,152,781 5,152,781 – – – –
East West Bank CD 08/04/20 6,546,565 – – – – –
R Bank CD 08/16/20 2,031,778 – – – – –
R Bank CD 08/16/20 1,013,818 – – – – –
Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – –
T-Bill 10/08/20 2,489,236 2,489,236 – – – –
Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – –
East West Bank CD 11/09/20 3,002,442 3,002,442 – – – –
Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – –
R Bank CD 11/19/20 2,510,767 2,510,767 – – – –
Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – –
East West Bank CD 12/09/20 4,038,601 4,038,601 – – – –
East West Bank CD 01/08/21 3,024,696 3,024,696 – – – –
Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – –
Independent Bank CD 02/08/21 11,000,000 8,000,000 – – – –
R Bank CD 02/19/21 4,017,891 4,017,891 – – – –
Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – –
Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – –
Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – –
Totals 249,992,313$ 148,650,451$ 583,850$ 16,567,129$ 137,205$ 311,153$
Book Value
June 30, 2020
Valley View Consulting, L.L.C.732
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
Book Value
June 30, 2020
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$
Valley View Consulting, L.L.C.833
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
Book Value
June 30, 2020
(Continued)
2017 CO
Facilities/ Public
Safety/
Equipment
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – 1,005,754 – –
– – – – – –
182,203 380,642 97,311 5,922,590 56,657 924,743
– – – – – –
– – – – – –
– – – 2,031,778 – –
– – – 1,013,818 – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – 3,000,000 – –
– – – – – –
– – – – – –
– – – – – –
– – – 2,001,191 – –
182,203$ 380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$
Valley View Consulting, L.L.C.934
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
Book Value
June 30, 2020
(Continued)
2018 GO-
Parks
2018 GO-
Roads
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 4,743,154 – 969,028 – –
– – – – – – –
560,262 11,613,036 2,607,390 439,319 2,472,153 5,767,255 650,141
– – – – – – –
– 2,014,063 3,514,104 – 1,018,398 – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
560,262$ 13,627,099$ 10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$
Valley View Consulting, L.L.C.1035
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
Book Value
June 30, 2020
(Continued)
2020 GO-
Roads
2020
Revenue-
Electric
2020
Revenue-
Water/WW
–$ –$ –$
– – –
– – –
– – –
– – –
– – –
9,001,959 5,011,090 9,302,024
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
9,001,959$ 5,011,090$ 9,302,024$
Valley View Consulting, L.L.C.1136
City - Allocation
June 30, 2020
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 9,511,536$ 9,511,536$ –$ –$ –$ –$
JPMorgan Chase MMA 433,929 433,929 – – – –
Veritex Bank MMA 3,208,928 3,208,928 – – – –
NexBank MMA 7,346,749 7,346,749 – – – –
Origin Bank MMA 10,798,033 4,080,098 – – – –
TexPool 45,475,841 45,475,841 – – – –
TexSTAR 90,087,998 10,057,422 583,850 16,567,129 137,205 311,153
East West Bank CD 07/15/20 5,152,781 5,152,781 – – – –
East West Bank CD 08/04/20 6,546,565 – – – – –
R Bank CD 08/16/20 2,031,778 – – – – –
R Bank CD 08/16/20 1,013,818 – – – – –
Prosperity Bank CD 08/21/20 6,215,859 6,215,859 – – – –
T-Bill 10/08/20 2,498,935 2,498,935 – – – –
Independent Bank CD 10/18/20 2,523,205 2,523,205 – – – –
East West Bank CD 11/09/20 6,002,442 3,002,442 – – – –
Independent Bank CD 11/10/20 1,025,893 1,025,893 – – – –
R Bank CD 11/19/20 2,510,767 2,510,767 – – – –
Southside Bank CD 11/19/20 3,244,620 3,244,620 – – – –
East West Bank CD 12/09/20 4,038,601 4,038,601 – – – –
East West Bank CD 01/08/21 3,024,696 3,024,696 – – – –
Independent Bank CD 02/05/21 3,112,959 3,112,959 – – – –
Independent Bank CD 02/08/21 8,000,000 8,000,000 – – – –
R Bank CD 02/19/21 4,017,891 4,017,891 – – – –
Bank OZK CD 02/26/21 6,034,021 6,034,021 – – – –
Independent Bank CD 04/22/21 4,137,022 4,137,022 – – – –
Bank OZK CD 05/10/21 12,007,144 10,005,954 – – – –
Totals 250,002,012$ 148,660,149$ 583,850$ 16,567,129$ 137,205$ 311,153$
Valley View Consulting, L.L.C.1237
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,506,968 1,530,698 68,555 1,450,521 1,503,286 382,436
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,506,968$ 1,530,698$ 68,555$ 1,450,521$ 1,503,286$ 382,436$
Valley View Consulting, L.L.C.1338
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2017 CO
Facilities/ Public
Safety/
Equipment
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – 1,005,754 – –
– – – – – –
182,203 380,642 97,311 5,922,590 56,657 924,743
– – – – – –
– – – – – –
– – – 2,031,778 – –
– – – 1,013,818 – –
– – – – – –
– – – – – –
– – – – – –
– – – 3,000,000 – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – 2,001,191 – –
182,203$ 380,642$ 97,311$ 14,975,130$ 56,657$ 924,743$
Valley View Consulting, L.L.C.1439
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2018 GO-
Parks
2018 GO-
Roads
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
2020 CO-
Facilities/
Equip/Parks
2020 CO-
Stormwater
–$ –$ –$ –$ –$ –$ –$
– – – – – – –
– – – – – – –
– – – – – – –
– – 4,743,154 – 969,028 – –
– – – – – – –
560,262 11,613,036 2,607,390 439,319 2,472,153 5,767,255 650,141
– – – – – – –
– 2,014,063 3,514,104 – 1,018,398 – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
– – – – – – –
560,262$ 13,627,099$ 10,864,648$ 439,319$ 4,459,579$ 5,767,255$ 650,141$
Valley View Consulting, L.L.C.1540
City - Allocation
June 30, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
Prosperity Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
East West Bank CD 11/09/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
Independent Bank CD 02/08/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Bank OZK CD 05/10/21
Totals
(Continued)
2020 GO-
Roads
2020
Revenue-
Electric
2020
Revenue-
Water/WW
–$ –$ –$
– – –
– – –
– – –
– – –
– – –
9,001,959 5,011,090 9,302,024
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
– – –
9,001,959$ 5,011,090$ 9,302,024$
Valley View Consulting, L.L.C.1641
City - Allocation
Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 10,852,258$ 10,852,258$ –$ –$ –$ –$
JPMorgan Chase MMA 433,875 433,875 – – – –
Veritex Bank MMA 3,205,333 3,205,333 – – – –
NexBank MMA 7,337,623 7,337,623 – – – –
Origin Bank MMA 10,739,181 4,057,314 – – – –
TexPool 38,781,634 38,781,634 – – – –
TexSTAR 66,065,086 16,194,709 583,421 16,064,232 137,104 310,924
East West Bank CD 04/01/20 5,252,290 5,252,290 – – – –
T-Bill 04/16/20 2,498,236 2,498,236 – – – –
Southside Bank CD 04/17/20 2,514,336 2,514,336 – – – –
Prosperity Bank CD 05/06/20 4,157,776 4,157,776 – – – –
T-Bill 05/07/20 4,892,333 – – – – –
Southside Bank CD 05/11/20 3,056,381 3,056,381 – – – –
BBVA Bank CD 06/20/20 4,076,022 4,076,022 – – – –
East West Bank CD 07/15/20 5,121,021 5,121,021 – – – –
East West Bank CD 08/04/20 6,518,552 6,518,552 – – – –
R Bank CD 08/16/20 2,021,284 – – – – –
R Bank CD 08/16/20 1,010,897 – – – – –
LegacyTexas Bank CD 08/21/20 6,174,483 6,174,483 – – – –
T-Bill 10/08/20 2,479,441 2,479,441 – – – –
Independent Bank CD 10/18/20 2,511,652 2,511,652 – – – –
Independent Bank CD 11/10/20 1,019,475 1,019,475 – – – –
R Bank CD 11/19/20 2,500,000 2,500,000 – – – –
Southside Bank CD 11/19/20 3,230,917 3,230,917 – – – –
East West Bank CD 12/09/20 4,021,420 4,021,420 – – – –
East West Bank CD 01/08/21 3,011,829 3,011,829 – – – –
Independent Bank CD 02/05/21 3,100,000 3,100,000 – – – –
R Bank CD 02/19/21 4,000,000 4,000,000 – – – –
Bank OZK CD 02/26/21 6,007,921 6,007,921 – – – –
Independent Bank CD 04/22/21 4,118,590 4,118,590 – – – –
Totals 220,709,845$ 156,233,087$ 583,421$ 16,064,232$ 137,104$ 310,924$
March 31, 2020
Book Value
Valley View Consulting, L.L.C.1742
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 04/01/20
T-Bill 04/16/20
Southside Bank CD 04/17/20
Prosperity Bank CD 05/06/20
T-Bill 05/07/20
Southside Bank CD 05/11/20
BBVA Bank CD 06/20/20
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
LegacyTexas Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Totals
March 31, 2020
Book Value
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,505,126 1,529,574 68,505 1,449,455 1,502,181 382,155
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,505,126$ 1,529,574$ 68,505$ 1,449,455$ 1,502,181$ 382,155$
Valley View Consulting, L.L.C.1843
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 04/01/20
T-Bill 04/16/20
Southside Bank CD 04/17/20
Prosperity Bank CD 05/06/20
T-Bill 05/07/20
Southside Bank CD 05/11/20
BBVA Bank CD 06/20/20
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
LegacyTexas Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Totals
March 31, 2020
Book Value
(Continued)
2017 CO
Facilities/ Public
Safety/
Equipment
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – 1,001,628 – –
– – – – – –
182,069 380,362 97,239 6,018,195 56,616 924,064
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – 4,892,333 – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – 2,021,284 – –
– – – 1,010,897 – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
182,069$ 380,362$ 97,239$ 14,944,336$ 56,616$ 924,064$
Valley View Consulting, L.L.C.1944
City - Allocation
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 04/01/20
T-Bill 04/16/20
Southside Bank CD 04/17/20
Prosperity Bank CD 05/06/20
T-Bill 05/07/20
Southside Bank CD 05/11/20
BBVA Bank CD 06/20/20
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
LegacyTexas Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Totals
March 31, 2020
Book Value
(Continued)
2018 GO-
Parks
2018 GO-
Roads
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
–$ –$ –$ –$ –$
– – – – –
– – – – –
– – – – –
– – 4,716,627 – 963,612
– – – – –
559,850 11,604,502 2,605,474 438,996 2,470,336
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
559,850$ 11,604,502$ 7,322,102$ 438,996$ 3,433,948$
Valley View Consulting, L.L.C.2045
City - Allocation
March 31, 2020
Market Value Investment
Total Consolidated 2014 Revenue
Water WW Debt Service
2015 CO-
Parks/Streets/
Vehicles
2015 CO-
Stormwater
JPMorgan Chase Cash 10,852,258$ 10,852,258$ –$ –$ –$ –$
JPMorgan Chase MMA 433,875 433,875 – – – –
Veritex Bank MMA 3,205,333 3,205,333 – – – –
NexBank MMA 7,337,623 7,337,623 – – – –
Origin Bank MMA 10,739,181 4,057,314 – – – –
TexPool 38,781,634 38,781,634 – – – –
TexSTAR 66,065,086 16,194,709 583,421 16,064,232 137,104 310,924
East West Bank CD 04/01/20 5,252,290 5,252,290 – – – –
T-Bill 04/16/20 2,499,923 2,499,923 – – – –
Southside Bank CD 04/17/20 2,514,336 2,514,336 – – – –
Prosperity Bank CD 05/06/20 4,157,776 4,157,776 – – – –
T-Bill 05/07/20 4,899,686 – – – – –
Southside Bank CD 05/11/20 3,056,381 3,056,381 – – – –
BBVA Bank CD 06/20/20 4,076,022 4,076,022 – – – –
East West Bank CD 07/15/20 5,121,021 5,121,021 – – – –
East West Bank CD 08/04/20 6,518,552 6,518,552 – – – –
R Bank CD 08/16/20 2,021,284 – – – – –
R Bank CD 08/16/20 1,010,897 – – – – –
LegacyTexas Bank CD 08/21/20 6,174,483 6,174,483 – – – –
T-Bill 10/08/20 2,498,775 2,498,775 – – – –
Independent Bank CD 10/18/20 2,511,652 2,511,652 – – – –
Independent Bank CD 11/10/20 1,019,475 1,019,475 – – – –
R Bank CD 11/19/20 2,500,000 2,500,000 – – – –
Southside Bank CD 11/19/20 3,230,917 3,230,917 – – – –
East West Bank CD 12/09/20 4,021,420 4,021,420 – – – –
East West Bank CD 01/08/21 3,011,829 3,011,829 – – – –
Independent Bank CD 02/05/21 3,100,000 3,100,000 – – – –
R Bank CD 02/19/21 4,000,000 4,000,000 – – – –
Bank OZK CD 02/26/21 6,007,921 6,007,921 – – – –
Independent Bank CD 04/22/21 4,118,590 4,118,590 – – – –
Totals 220,738,220$ 156,254,108$ 583,421$ 16,064,232$ 137,104$ 310,924$
Valley View Consulting, L.L.C.2146
City - Allocation
March 31, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 04/01/20
T-Bill 04/16/20
Southside Bank CD 04/17/20
Prosperity Bank CD 05/06/20
T-Bill 05/07/20
Southside Bank CD 05/11/20
BBVA Bank CD 06/20/20
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
LegacyTexas Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Totals
(Continued)
2015 GO-
Roads
2015 Revenue
Water WW
2016 CO-
Streets/
Facilities/
Equip
2016 GO-
Roads
2016 Revenue
Water/WW
Garey Park
Donation
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,505,126 1,529,574 68,505 1,449,455 1,502,181 382,155
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
2,505,126$ 1,529,574$ 68,505$ 1,449,455$ 1,502,181$ 382,155$
Valley View Consulting, L.L.C.2247
City - Allocation
March 31, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 04/01/20
T-Bill 04/16/20
Southside Bank CD 04/17/20
Prosperity Bank CD 05/06/20
T-Bill 05/07/20
Southside Bank CD 05/11/20
BBVA Bank CD 06/20/20
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
LegacyTexas Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Totals
(Continued)
2017 CO
Facilities/ Public
Safety/
Equipment
2017 GO-
Sidewalks
2017 Revenue
Electric
2017 Revenue
Water WW
2018 CO-
Airport
2018 CO-
Streets/
Facilities/
Equip
–$ –$ –$ –$ –$ –$
– – – – – –
– – – – – –
– – – – – –
– – – 1,001,628 – –
– – – – – –
182,069 380,362 97,239 6,018,195 56,616 924,064
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – 4,899,686 – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – 2,021,284 – –
– – – 1,010,897 – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
– – – – – –
182,069$ 380,362$ 97,239$ 14,951,690$ 56,616$ 924,064$
Valley View Consulting, L.L.C.2348
City - Allocation
March 31, 2020
Market Value
JPMorgan Chase Cash
JPMorgan Chase MMA
Veritex Bank MMA
NexBank MMA
Origin Bank MMA
TexPool
TexSTAR
East West Bank CD 04/01/20
T-Bill 04/16/20
Southside Bank CD 04/17/20
Prosperity Bank CD 05/06/20
T-Bill 05/07/20
Southside Bank CD 05/11/20
BBVA Bank CD 06/20/20
East West Bank CD 07/15/20
East West Bank CD 08/04/20
R Bank CD 08/16/20
R Bank CD 08/16/20
LegacyTexas Bank CD 08/21/20
T-Bill 10/08/20
Independent Bank CD 10/18/20
Independent Bank CD 11/10/20
R Bank CD 11/19/20
Southside Bank CD 11/19/20
East West Bank CD 12/09/20
East West Bank CD 01/08/21
Independent Bank CD 02/05/21
R Bank CD 02/19/21
Bank OZK CD 02/26/21
Independent Bank CD 04/22/21
Totals
(Continued)
2018 GO-
Parks
2018 GO-
Roads
2019 CO-
Streets/
Facilities/
Equip
2019 CO-
Stormwater
2019 GO-
Roads
–$ –$ –$ –$ –$
– – – – –
– – – – –
– – – – –
– – 4,716,627 – 963,612
– – – – –
559,850 11,604,502 2,605,474 438,996 2,470,336
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
– – – – –
559,850$ 11,604,502$ 7,322,102$ 438,996$ 3,433,948$
Valley View Consulting, L.L.C.2449
Georgetown Transportation Enhancement Corporation (GTEC)
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
June 30, 2020
Prepared by
Valley View Consulting, L.L.C.
The investment portfolio of the Georgetown Transportation Enhancement Corporation (GTEC) is in compliance with the Texas
Public Funds Investment Act and the Investment Policy and Strategies.
Disclaimer: These reports were compiled using information provided by the City. No procedures were performed to test the accuracy
or completeness of this information. The market values included in these reports were obtained by Valley View Consulting, L.L.C.
from sources believed to be accurate and represent proprietary valuation. Due to market fluctuations these levels are not necessarily
reflective of current liquidation values. Yield calculations are not determined using standard performance formulas, are not
representative of total return yields and do not account for investment advisor fees.
50
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
Pools/MMAs 19,994,093$ 19,994,093$ 26,000,055$ 26,000,055$ 0.37%
CDs/Securities 3,208,607 3,208,607 3,222,395 3,222,395 1.73%
Totals 23,202,700$ 23,202,700$ 29,222,450$ 29,222,450$ 0.52%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.52%Total Portfolio 1.24%
Rolling Three Month Treasury 0.14%Rolling Three Month Treasury 0.97%
Rolling Six Month Treasury 0.67%Rolling Six Month Treasury 1.28%
TexPool 0.22%TexPool 0.96%
Interest data provided in separate report.
March 31, 2020
(1)Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2)Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total
return analysis or account for advisory fees.
June 30, 2020
Valley View Consulting, L.L.C.
151
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
TexPool AAAm 0.22%07/01/20 06/30/20 7,942,833$ 7,942,833$ 1.00 7,942,833$ 1 0.22%
TexSTAR AAAm 0.20%07/01/20 06/30/20 13,332,342 13,332,342 1.00 13,332,342 1 0.20%
Origin Bank MMA (3)2.25%07/01/20 06/30/20 2,040,058 2,040,058 1.00 2,040,058 1 2.25%
Veritex Bank MMA 0.30%07/01/20 06/30/20 2,684,822 2,684,822 1.00 2,684,822 1 0.30%
East West Bank CD 1.72%08/04/20 02/04/20 3,222,395 3,222,395 100.00 3,222,395 35 1.73%
29,222,450$ 29,222,450$ 29,222,450$ 5 0.52%
(1)(2)
June 30, 2020
(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.
(3) Origin Bank MMA - Interest rate fixed until August 2020.
Valley View Consulting, L.L.C.353
Book Value Comparison
Coupon/Maturity Face Amount/Purchases/Sales/Adjust/Face Amount/
Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value
TexPool 0.22%07/01/20 6,658,162$ 6,658,162$ 1,284,671$ –$ 7,942,833$ 7,942,833$
TexSTAR 0.20%07/01/20 8,625,460 8,625,460 4,706,882 13,332,342 13,332,342
Origin Bank MMA (3)2.25%07/01/20 2,028,657 2,028,657 11,401 2,040,058 2,040,058
Veritex Bank MMA 0.30%07/01/20 2,681,814 2,681,814 3,008 2,684,822 2,684,822
East West Bank CD 1.72%08/04/20 3,208,607 3,208,607 13,788 3,222,395 3,222,395
TOTAL 23,202,700$ 23,202,700$ 6,019,751$ –$ 29,222,450$ 29,222,450$
Market Value Comparison
Coupon/Maturity Face Amount/Qtr to Qtr Face Amount/
Description Discount Date Par Value Market Value Change Par Value Market Value
TexPool 0.22%07/01/20 6,658,162$ 6,658,162$ 1,284,671$ 7,942,833$ 7,942,833$
TexSTAR 0.20%07/01/20 8,625,460 8,625,460 4,706,882 13,332,342 13,332,342
Origin Bank MMA (3)2.25%07/01/20 2,028,657 2,028,657 11,401 2,040,058 2,040,058
Veritex Bank MMA 0.30%07/01/20 2,681,814 2,681,814 3,008 2,684,822 2,684,822
East West Bank CD 1.72%08/04/20 3,208,607 3,208,607 13,788 3,222,395 3,222,395
TOTAL 23,202,700$ 23,202,700$ 6,019,751$ 29,222,450$ 29,222,450$
March 31, 2020 June 30, 2020
March 31, 2020 June 30, 2020
Valley View Consulting, L.L.C.555
Summary
Quarter End Results by Investment Category:
Asset Type Book Value Market Value Book Value Market Value Ave. Yield
MMA 2,125,358$ 2,125,358$ 2,127,743$ 2,127,743$ 0.30%
Pools 4,886,433 4,886,433 5,210,899 5,210,899 0.21%
Certificates of Deposit 2,000,000 2,000,000 2,008,361 2,008,361 1.70%
9,011,792$ 9,011,792$ 9,347,002$ 9,347,002$ 0.55%
Quarter End Average Yield (1) Fiscal Year-to-Date Average Yield (2)
Total Portfolio 0.55%Total Portfolio 1.15%
Rolling Three Month Treasury 0.14%Rolling Three Month Treasury 0.97%
Rolling Six Month Treasury 0.67%Rolling Six Month Treasury 1.28%
TexPool 0.22%TexPool 0.95%
Interest income provided in separate report.
March 31, 2020
(1) Quarter End Average Yield - based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not
considered. The yield for the reporting month is used for bank, pool, and money market balances.
(2) Fiscal Year-to-Date Average Yield - calculated using quarter end report yields and adjusted book values and does not reflect a total return
analysis or account for advisory fees.
June 30, 2020
Valley View Consulting, L.L.C.
157
Investment Holdings
Coupon/Maturity Settlement Face Amount/Book Market Market Life
Description Ratings Discount Date Date Par Value Value Price Value (Day)Yield
Veritex Bank MMA 0.30%07/01/20 06/30/20 2,127,743$ 2,127,743$ 1.00 2,127,743$ 1 0.30%
TexasDAILY AAAm 0.24%07/01/20 06/30/20 2,123,848 2,123,848 1.00 2,123,848 1 0.24%
TexSTAR AAAm 0.20%07/01/20 06/30/20 3,087,051 3,087,051 1.00 3,087,051 1 0.20%
Independent Bank 1.70%02/05/21 02/05/20 2,008,361 2,008,361 100.00 2,008,361 220 1.70%
9,347,002$ 9,347,002$ 9,347,002$ 48 0.55%
(1)(2)
June 30, 2020
(1) Weighted average life - For purposes of calculating weighted average life, bank accounts, pools and money market funds are assumed to have an one day maturity.
(2) Weighted average yield to maturity - The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees
are not considered. The yield for the reporting month is used for bank accounts, pools, and money market funds.
Valley View Consulting, L.L.C.359
Book & Market Value Comparison
Coupon/Maturity Face Amount/Purchases/Sales/Adjust/Face Amount/
Description Discount Date Par Value Book Value Adjustments Call/Maturity Par Value Book Value
Veritex Bank MMA 0.30%07/01/20 2,125,358$ 2,125,358$ 2,385$ –$ 2,127,743$ 2,127,743$
TexasDAILY 0.24%07/01/20 2,121,273 2,121,273 2,574 2,123,848 2,123,848
TexSTAR 0.20%07/01/20 2,765,160 2,765,160 321,891 3,087,051 3,087,051
Independent Bank 1.70%02/05/21 2,000,000 2,000,000 8,361 2,008,361 2,008,361
TOTAL 9,011,792$ 9,011,792$ 335,211$ –$ 9,347,002$ 9,347,002$
March 31, 2020 June 30, 2020
Valley View Consulting, L.L.C.561
63
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 3/31/20 Status Updates ‐ 6/30/20
Cemetery Special Revenue
Fund
Currently cemetery operations are self‐funded through plot
sales of approximately $50K per year. The cemetery is
managed through Parks Administration. In 2015, Council
elected to reserve $75,000 annually for future costs
associated with maintaining the property. The General
Fund has made this transfer in since FY 2016.
No change
Depending on the economic impacts of COVID, the General Fund
may not make this transfer in FY2020. Additionally, the FY2021
budget has reduced this transfer.
Unfunded Actuarial Accrued
Liability (UAAL)
Recognizes the outstanding liability for the City’s employee
retirement plan through TMRS. The City contributes
monthly to fund the UAAL, based on an annual percentage
of payroll. Actual % of payroll costs is recognized within
each fund. The UAAL is provided by TMRS and lags one
year.
As of 9/30/2019, the net pension liability is $28.8 million and is
81.41% funded. The 2020 total combined contribution rate is
12.26%. This increase is due to a change in the discount rate.
No change
Other Post Employee Benefits
(OPEB)
While the City has no obligation to offer additional retiree
benefits, retirees are eligible to participate in the City’s
health insurance program. That ability represents a subsidy
that impacts health insurance costs to the City. Retirees pay
their monthly premiums to the self insurance fund, which
then processes their health insurance claims.
OPEB liability as of 9/30/2019 is $3.3 million. This is a combination
of sudden death benefits as well as post‐retirement healthcare.No change
Compensated Absence
Future costs associated with benefits such as vacation, and
sick leave for City employees. Compensated Absence is
accrued annually to each proprietary fund type on a GAAP
basis and accounted for on the balance sheet of each fund.
For governmental funds (and for budgetary basis), the
expense is recognized when due and payable. The City
keeps a reserve in the General Fund to help offset large
payouts for long‐term employees. The reserve is used as
needed, and annually replenished or increased based on
known risk.
Compensated absences as of 9/30/2019 are $7.5 million. This
increase is due to more time being earned than used in FY19. In
FY2020, the budgeted reserve was increased to $340,000.
No change
Electric Fund Rate Stabilization
Reserve
Intended to mitigate potential rate impacts due to increased
fuel costs or other external factors. The RSR is maintained
within the Electric Fund.
Purchased Power expenses for the first, second and third quarter
are on track for the FY2020 budget. Revenues were strong in the
first half of the year, but started to lag from the impact of closed
businesses and schools with the pandemic. A hot summer is
expected to help revenues meet budget.
Staff are projecting to sell transformer assets to a third party by the
end of the fiscal year, as well as to make a second installment in the
sale of the fiber asset to the IT Fund. These one‐time influxes of
cash are helping to restore reserves to the fund.
CITY OF GEORGETOWN
Long-term Commitments, Reservations, and Other Unfunded Liabilities
6/30/2020
64
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 3/31/20 Status Updates ‐ 6/30/20
Airport Maintenance
Fund on‐going maintenance of the Airport grounds,
runways and taxi ways. Terminal and Tower included in
Facilities ISF. An Airport Master Plan was developed to
address long term capital maintenance project
prioritization.
No change No change
Americans with Disabilities Act
(ADA) Compliance Needs
As facilities are built or repurposed, meeting ADA
compliance will be included in Project Costs. Funding for
program expansion will be needed (General Fund sources).
The City has an adopted policy, as required by Federal Law,
that it will make reasonable accommodations and
modifications to ensure that people with disabilities have an
equal opportunity to enjoy its programs, services, and
activities. The City does not maintain a reserve for these
modifications.
No change No change
Sidewalk Maintenance &
Masterplan
Currently, new sidewalks are built as development occurs.
Repairs are funded as needed or if funding is available,
when major roads are repaired. Useful life of a sidewalk is
estimated at 40 to 50 years. The largest revenue source
comes from the City’s General Fund, but there has been
some debt funding as well.
Old Town NE Sidewalk ‐ Contractor has completed 95% of the
project. All sidewalk and pedestrian ramps are in place. TDLR
inspection and walk‐through to be completed in Mid‐May.
Contractor to address any punch list items.
Old Town NE sidewalk is completed and all punch list items are
done. Project will close out in July.
Park Equipment Maintenance
& Replacement
Over the past 5 years, funding for Park Maintenance and
Replacement has increased. $200K transfer from General
Fund included in FY2018 budget. Staff has listed all assets &
developed replacement schedule funded by the General
Fund.
No change
Golden Bear Park development is underway and is expected to be
complete in August. The development consists of age appropriate
play equipment, accessible sidewalks, pergola, and landscaping.
Radio Equipment Replacement
Communication system consisting of 500 on‐body and in‐
vehicle radios for Police, Fire, parks and utilities.
Replacement radios are compatible with newer technology.
The replacement takes place over 5 years due to cost and is
funded with certificate of obligation debt.
No change
There will not be any new radios purchased in FY2020 budget
because they were taken out of the debt sale due to market
uncertainty related to COVID‐19. There will be debt issued in
FY2021 for the final year of the replacement project.
65
Unfunded Liability &
Commitments Financial Impact/Notes Status Updates ‐ 3/31/20 Status Updates ‐ 6/30/20
Street Maintenance
The City funds street maintenance in the General Fund,
supplemented by a 1/8th Street Sales Tax special revenue
fund. In 2017 and 2018, the Council and GTAB reviewed
various methods for enhanced street maintenance and
costs. Direction from Council is to use high performance
surface seals and pavement wearing courses and begin
programmatically addressing the street network's deferred
maintenance backlog, creating a need for approximately $2
million more per year for street maintenance.
No change
Due to the COVID‐19 pandemic, the Street Maintenance budget in
the General Fund was reduced in FY2021. The Streets Special
Revenue Fund will pick up some of the expenses, but not all.
Fiber Asset Allocation
Network fiber infrastructure is installed across the City.
Traditionally, the Electric Fund has installed and maintained
the network. In reviewing all costs for the Electric Fund, the
City has begun moving the fiber asset to the IT Fund. Staff
must develop a multi‐year strategy to complete the asset
transfer and allocate costs for maintenance.
No change
Fiber staff will be moved into IT at beginning of FY 21. Also in FY
2021, Fiber costs will be allocated across departments according to
the IT allocation process. The second installment to acquire the
asset will be paid in FY2020, and there is a plan to assume
additional installments over the next 4 years. The IT Fund will need
to increase cost recovery rates to complete the acquisition.
66