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Home My WebLink About(2) THE JUNE 2019 FINANCIAL REPORT INTEROFFICE MEMORANDUM Date: July 26, 2019 To: The Honorable Mayor and City Council Through: Rebecca Underhill, Interim City Manager From: Kandy Daniel, Interim Finance Director RE: Proposed Budget Calendar FY 2019 - 2020 Attached is the proposed budget calendar for FY 2019—2020. We have tentatively scheduled three workshops for August 13, August 20, and August 27 to discuss the proposed budget. Public hearings are scheduled for August 27 and September 10 with an adoption date of September 10 as well. Please let us know of any specific topics you would like discussed at the workshops or if any changes or additions to this schedule are needed. Proposed Budget Calendar FY 2019—2020 August 9 -File Proposed Budget with City Secretary August 13 -Set required public hearing date(s)on tax rate and budget. -Hold first budget workshop. Aug 16 -Publish required notices on tax rate and budget(prior to hearings). Aug 20 -Hold second budget workshop. (Not a regularly scheduled Council Day) Aug 27 -Hold 1"public hearing on tax rate. -Hold public hearing on budget. 1 public hearing is required on budget. -Hold third budget workshop. September 10 -Hold 2nd public hearing on tax rate(if needed). -Adopt Budget, tax rate and tax roll (no later than September 27). 1 Energy` ''"'4. City of - City ' ' 14) ii.} ort rth u r Te.x as 2018-2019 Budget Monthly Report And Quarterly Investment Report June 2019 City of Port Arthur 2018 -2019 Budget Monthly Report June 30, 2019 Highlights: General Fund Overall the General Fund revenues continue to be approximately$1.2 million above the expected amount. 97.1%of the property tax budget has been received and collections are expected to be slightly above budget by year end. Industrial payments received this fiscal year are $700,000 above the budgeted amount due to expansions at BASF and BASF TOTAL Petrochemicals(BTP). Sales tax collections continue to trend below last year as expected. Sales tax through June is 8%below last fiscal year but continues to show improvement and currently only 1.5%below budget. Utility franchise fees,which are made up of electric,gas,telephone and cable categories are$200,000 above budget and miscellaneous revenue including interest earnings, land sales and insurance proceeds have exceeded budgeted levels by $400,000. Operating expenditures total $43.8 million at June 30,2019. Year to date actual is below the budgeted level by$4.2 million,an improvement of$700,000 over May. Departments are continuing to work on hiring needed personnel. There are currently 42 vacancies in the General Fund which is down from 50 in the previous month. Budget amendments are requested throughout the year as needed so that the amended budget column will closely reflect where we expect to be at the end of the year. Water Fund The Water Fund revenues reflect a$400,000 improvement over last month with a current budget shortfall of$447,000. Revenues are trending up this summer and are expected to reach budgeted levels of$27.9 million by year end. Water service charges received from industry are currently$1.1 million over budget estimates. Residential and commercial revenue is $2.2 million under budget which is a slight improvement over last month. Water Fund operating expenses are above budget by$730,000 at June,2019,which is an improvement of $80,000 over May. There are currently 15 vacant positions which is down from 17 vacancies last month. As staff is hired,the need for overtime and temporary help can be reduced. The Water Fund budget is balanced with a net budgeted revenue over expenses of$900,000. Year to date actual currently reflects a net expense over revenue of$173,000,which reflects a$600,000 improvement over May. Staff will continue to monitor the fund and work with the Water Department on cost cutting measures to bring expenses back in line with available revenues. Solid Waste Fund Solid Waste revenues are improving but are still below budget by$160,000. This is mostly attributable to Landfill dumping fees which are$177,000 below the estimated amount. In FY18 we saw a significant increase in Landfill fees due to Hurricane Harvey. The revenue estimate was reduced this year to FY 16 levels with an increase of$750,000 for a new major customer. However,current revenues for the customer are still below the projection. Commercial container fees continue to be 6%above the budgeted amount. Solid Waste Operating expenses currently are over budget by approximately$72,000 which is a$48,000 improvement over last month. Staff will keep the Council updated on the efforts to keep costs in line with available revenues. Pleasure Island Fund Pleasure Island revenues are down $43,000 at this time and can be attributed to reduced rentals at the RV Park. The original expense budget was amended by a total of$358,000 to cover the bulkhead repairs at the Marina which began last year. Capital Improvement Fund This section includes street projects by district, other general improvements by type and available funding sources for each. The total street program budget is $19.9 million, which reflects the $2.2 million budget amendment Council approved earlier in the month. Funding for the street program is provided through EDC Street Maintenance, CDBG,GLO and prior year General Fund revenues. $7.2 million has been spent to date on the current listed street projects. $2.7 million of that has been spent this fiscal year leaving a balance of$12.7 million to complete the projects. General Improvement projects include building renovations,technology upgrades and parks&recreation renovations. Expenditures on current projects total $2 million with $571,000 spent this fiscal year and a balance remaining of$2.9 million. Disaster Fund At this time the Hurricane Harvey Disaster Fund has total revenues of$23 million and expenditures of $29.9 million leaving a deficit of$6.9 million. Pending reimbursements of$1.8 million will reduce this deficit to $5.lmillion. The City continues to make every effort to capture as much Federal assistance as possible. Property insurance claims remain outstanding. Quarterly Investment Report At June 30,cash and investments for the City totaled $76.9 million. This reduction of$9 million from the beginning of the quarter is reflective of the City's normal cash flow. The majority of taxes and industrial payments are received in the first and second quarters of the fiscal year. Bank Deposits of$4.2 million make up approximately 5.5%of the portfolio while the remainder of$72.7 million (94.5%)is invested in authorized local government investment pools. The average yield for the quarter is 2.3%which is approximately the same as the previous quarter. Interest earned this quarter is$449,000 and totals$1.4 million fiscal year to date. All investments have been made in accordance with the City's investment strategy and investment policy as previously approved by the City Council. City of Port Arthur 2018 - 2019 Budget Monthly Report June 30, 2019 Actual Actual Amended Y-T-D Y-T-D 16-17 17-18 Budget Actual Budget 18-19 Thru June Thru June Variance General Fund Summary Revenues Taxes Property Taxes 12,518,521 12,316,713 12,540,000 12,186,318 12,238,140 (51,822) Industrial District Payments 31,221,614 30,644,284 30,100,000 30,759,585 30,075,000 684,585 Sales Tax 8,704,353 10,452,255 9,700,000 7,267,754 7,383,060 (115,306) Other Taxes 9,703,891 9,190,955 9,270,000 3,925,686 3,735,824 189,862 Total Taxes 62,148,379 62,604,207 61,610,000 54,139,343 53,432,024 707,319 Licenses and Permits 751,937 841,860 441,200 374,711 330,858 43,853 Intergovernmental Revenue 77,112 58,228 141,772 80,696 106,317 (25,621) Charges for Services 325,778 355,557 381,000 275,915 285,696 (9,781) Fines and Forfeitures 824,979 850,301 935,100 775,541 701,316 74,225 Interest and Miscellaneous 1,156,481 1,283,617 527,100 763,061 395,298 367,763 Total Operating Revenues 65,284,666 65,993,770 64,036,172 56,409,267 55,251,509 1,157,758 Transfers and Other Revenues 7,881,414 7,091,869 7,091,718 5,318,789 5,318,775 14 Total Revenues 73,166,080... 73,085,639 71,127,890 61,728,056 60,570,284 _ 1,157,772 Expenditures Administration 2,138,493 1,447,224 1,905,094 1,067,378 1,400,789 (333,411) City Secretary 1,348,263 1,313,215 2,097,232 1,274,053 1,517,900 (243,847) City Attorney 738,309 984,382 1,127,621 813,041 811,242 1,799 Finance 2,099,769 2,186,880 2,288,445 1,583,431 1,651,210 (67,779) Information Technology 578,506 870,033 1,747,846 1,050,310 1,278,068 (227,758) Human Resources 662,471 644,759 813,215 416,874 585,503 (168,629) Development Services 4,398,784 4,852,202 5,876,346 3,894,061 4,256,990 (362,929) Civic Center 788,843 653,306 872,571 591,433 635,044 (43,611) Police 19,600,635 18,314,943 20,509,145 14,008,896 14,689,771 (680,875) Fire 13,426,836 13,538,450 14,160,174 10,263,395 10,325,785 (62,390) Public Works 7,147,945 7,222,861 8,949,925 5,444,494 6,508,507 (1,064,013) Health and Welfare 1,304,852 1,399,065 1,500,621 1,047,099 1,083,451 (36,352) Parks and Recreation 2,497,164 2,253,854 3,318,723 1,538,423 2,423,555 (885,132) Library 1,126,363 951,435 1,274,655 855,288 920,123 (64,835) Total Operating Expenditures 57,857,233 56,632,609 66,441,613 43,848,176 48,087,937 (4,239,761) Transfers and Other Expenditures $11,105,335 $11,510,853 $4,954,862 3,985,946 3,985,946 - Total Expenditures 68,962,568 68,143,462 71,396,475 47,834,122 52,073,883 (4,239,761) Net Current Activity 4,203,512 4,942,177 (268,585) 13,893,934 8,496,401 Unassigned Beginning Fund Balance 15,488,267 19,691,779 24,633,956 24,633,956 24,633,956 Unassigned Ending Fund Balance 19.691,779 24,633,956 _ 24.365,371 38,527,890 33,130,357 City of Port Arthur 2018 - 2019 Budget Monthly Report June 30, 2019 Actual Actual Amended Y-T-D Y-T-D 16-17 17-18 Budget Actual Budget 18-19 Thru June Thru June Variance Water Fund Summary Revenues Water Service 8,580,711 11,237,669 13,400,000 8,947,918 10,049,994 (1,102,076) Water Service-Industry 2,138,890 3,992,756 3,734,206 3,814,912 2,800,647 1,014,265 Sewer Service 6,290,565 7,191,114 9,700,000 6,155,593 7,274,997 (1,119,404) Other Charges for Services 441,661 202,596 196,813 444,434 147,591 296,843 Late Fees 414,171 494,418 407,525 704,341 305,640 398,701 Interest and Miscellaneous 583,422 130,709 18,436 78,622 13,824 64,798 Total Operating Revenues 18,449,420 23,249,262 27,456,980 20,145,820 20,592,693 (446,873) Transfers and Other Sources 410,000 410,000 410,000 307,500 307,494 6 Total Revenues 18,859,420 23,659,262 27,866,980 20,453,320 20,900,187 (446,867) Expenses 1251 Administration 1,935,521 839,181 1,077,727 1,015,861 774,605 241,256 1252 Water Purification 4,319,571 5,596,723 5,994,189 3,946,130 4,444,396 (498,266) 1253 Water Distribution 4,589,162 3,476,479 3,562,452 2,657,042 2,581,545 75,497 1254 Customer Service 1,050,636 1,194,613 1,260,503 1,219,419 907,816 311,603 1255 Waste Water Conveyance 4,447,481 4,002,064 4,259,332 3,649,013 3,101,202 547,811 1256 Wastewater Treatment 1,848,970 1,987,509 2,349,053 1,859,213 1,723,941 135,272 1260 Environmental Regulatory Services 1,003 441,856 619,482 368,906 449,907 (81,001) Total Operating Expenses 18,192,344 17,538,425 19,122,738 14,715,584 13,983,412 732,172 Transfers and Other Uses 5,826,579 6,954,202 7,881,201 5,910,901 5,910,901 0 Total Expenses and Other Uses 24,018,923 24,492,627 27,003,939 20,626,485 19,894,313 732,172 Net Current Activity (5,159,503) (833,365) 863,041 (173,165) 1,005,874 Beginning Working Capital Balance (879,632) (1,202,686) 705,689 705,689 705,689 Adjustment to W/C 4,836,449 2,741,740 - - - Ending Working Capital Balance (1,202,686) 705,689 - 1,568,730 532,524 1,711,563 (As Adjusted) City of Port Arthur 2018 -2019 Budget Monthly Report June 30, 2019 Actual Actual Amended Y-T-D Y-T-D 16-17 17-18 Budget Actual Budget 18-19 Thru June Thru June Variance Solid Waste Fund Summary Revenues Residential Service 4,227,946 4,158,037 4,250,000 3,081,382 3,187,494 (106,112) Commercial Containers 1,907,211 2,015,983 2,000,000 1,593,551 1,499,994 93,557 Landfill Charges 1,403,735 2,335,938 1,650,000 1,060,742 1,237,500 (176,758) Municipal Landfill Contracts 282,522 310,758 285,000 182,441 213,750 (31,309) Late Fees 148,629 173,293 155,000 131,151 116,244 14,907 Interest and Miscellaneous 138,232 696 - 43,544 - 43,544 Total Revenues 8,108.275 8,994,705 8,340,000 6,092,811 6,254,982 (162.171) Expenses 1271 Trash Collection 1,318,143 1,307,401 1,259,618 976,185 904,542 71,643 1272 Residential Collection 1,476,416 936,306 1,182,920 921,888 846,693 75,195 1273 Container Service 889,661 678,516 705,923 610,357 510,308 100,049 1274 Landfill 2,524,882 2,126,943 2,593,673 1,745,271 1,918,316 (173,045) 1275 Administration 176,084 98,186 134,062 94,438 _ 96,002 (1,564) Total Operating Expenses 6,385,186 5,147,352 5,876,196 4,348,139 4,275,861 72,278 Transfers and Other Uses 1,155,957 3,039,070 2,857,534 2,143,151 2,143,151 1 Total Expenses and Other Uses 7,541,143 8,186,422 8,733,730 6,491,290 6,419,012 72,278 Net Current Activity 567,132 808,283 (393,730) (398,479) (164,030) Beginning Working Capital Balance 1,210,795 1,777,927 2,586,210 2,586,210 2,586,210 Ending Working Capital Balance 1,777,927 2,586,210 2,192,480 2,187,731 2,422,180 Pleasure Island Summary Revenues Land Lease&Sales 492,379 594,134 547,000 412,117 410,247 1,870 Dry Storage Rentals 23,840 29,026 33,000 18,161 24,750 (6,589) RV Park 290,493 285,407 294,000 184,453 220,500 (36,047) Boat Slip Rentals 155,356 130,301 130,000 95,963 97,497 (1,534) Fuel Facility 9,891 4,343 4,000 2,639 2,997 (358) Total Revenues ® 971,959 1,043,211 1,008,000 713,333 755,991 (42,658) Expenses 1291 Administration 555,036 582,864 587,315 355,463 423,066 (67,603) 1292 RV Park 141,778 148,883 184,650 90,792 138,488 (47,696) 1293 Marina 73,740 144,007 411,100 357,275 308,325 48,950 1294 Parks 53,645 67,307 _ 69,200 22,052 51,900 (29,848) Total Operating Expenses 824,199 943,061 1,252,265 825,582 921,779 (96,197) Transfers and Other Uses 20,000 (65,444) 40,000 30,000 30,000 - Total Expenses and Other Uses 844,199 877,617 1,292.265 855,582 951,779 (96,197) Net Current Activity 127,760 165,594 (284,265) (142,249) (195,788) Beginning Working Capital Balance 269,851 397,611 563,205 563,205 563,205 Ending Working Capital Balance 397,611 563,205 278,940 420,956 367,417 City of Port Arthur 2018 -2019 Budget Monthly Report June 30,2019 Total FY 18-19 Project To Total Revised Actual Y-T-D Date Project Capital Improvement Fund Summary Estimated Thru 9/30/18 Actual Actual Balance Street Improvements Project Cost Thru June Thru June _ Remaining District 1 15th Street Stillwell-Vicksburg - - - - El Paso Avenue Lakeshore-Procter - - - - Nashville Street 7th-Proctor 913,290 34,781 2,600 37,381 875,909 Bluebonnet Gulfway-19th 1,328,280 1,227,575 117,927 1,345,502 (17,222) Woodworth Blvd 7th St-Thomas Blvd. 1,186,728 1,057,665 129,333 1,186,998 (270) W 7th/Ransom Howard MLK-Abe Lincoln Ave 1,468,959 1,296,648 172,311 1,468,959 - W.8th Street Foley-Joe Louis 1,254,267 294,165 805,393 1,099,558 154,709 Lakeshore Drive Ph 1 4186-4300 Lakeshore 555,842 199,833 360,927 560,760 (4,918) Lakeshore Drive Ph 2 12th Av-4186/4300-Stadium 723,536 - 7,800 7,800 715,736 5th Street Atlanta-Nashville 915,588 - - 915,588 6th Street Atlanta-Nashville 929,588 - - 929,588 48"Storm Sewer Reloc Gulfway-9th 125,911 125,911 - 125,911 - 12th Street 6th Ave-Woodworth 75,926 - - - 75,926 24th Street Gulf Ave to Memorial 105,071 - - - 105,071 9th Street Houston-Ft Worth 31,768 - 24,753 24,753 7,015 Marshall 10th-Gulfway 159,616 - 102,369 102,369 57,247 El Paso Ave Lakeshore-Howard 29,598 - - - 29,598 3rd Avenue Gulfway-14th 350,000 - - - 350,000 5th Ave.South Tremont-Broadway 200,000 - - - 200,000 10,353,968 4,236,578 1,723,413 5,959,991 4,393,977 District 2 Williams Avenue Lakeshore-Procter 15,231 - - 15,231 15th Street Vera-Main 289,351 17,555 129,381 146,936 142,415 Carolina Ave Gulfway-Dead End 919,281 28,550 40,360 68,910 850,371 Lakeshore Dr Lakeside-Williams 587,000 - - 587,000 Lakeshore Dr Williams-Stadium 927,000 - - 927,000 Williams Avenue Proctor-8th St - - - - 8th Street Williams-Duff 21,313 - 17,660 17,660 3,653 5th Street Stadium-Duff 40,519 - 1,138 1,138 39,381 6th Street Brazos-Duff Dr 51,612 - 64,546 64,546 (12,934) Williams Avenue 5th St-Lewis Dr 550,000 - - 550,000 3,401,307 46.105 253,085 299,190 3,102,117 District 3 Femdale Drive Highland Dr-S Park Dr 20,188 1,350 1,350 18,838 Northpark Drive W Park-Evergreen 21,420 1,350 1,350 20,070 Wilson Drive Evergreen-Highland 15,392 - - 15,392 Forest Drive Evergreen-Woodrow 344,500 - 32,210 32,210 312,290 8th Ave 32nd-Dead End 881,394 28,550 55,030 83,580 797,814 Sunken Court Ph 1/Wilson-Tyrrell 405,393 24,965 26,085 51,050 354,343 Sunken Court Ph 2/Tyrrell-Twin City Hwy 729,887 27,281 47,551 74,832 655,055 38th Street Rachel-Lansing 10,175 - 8,716 8,716 1,459 Forest Dr Griffing-Evergreen 51,753 - - 51,753 42nd St 9th Ave-Wentworth 161,028 - 50,685 50,685 110,343 Evergreen Dr. North Park-Tyrrell 62,543 - 58,421 58,421 4,122 3rd Ave 32nd St-36th St - - 67,512 67,512 (67,512) Memorial Bld(Feeder) 29th St-31st St 100,000 - - - 100,000 9th Ave 32nd St-36th St 450,000 - - - 450,000 3,253,673 83,496 346,210 429,706 2,823,967 City of Port Arthur 2018 - 2019 Budget Monthly Report June 30, 2019 "Dotal FY 18-19 Project 7'o Total Revised Actual Y-T-D Date Project Capital Improvement Fund Summary Estimated Thru 9/30/18 Actual Actual Balance Street Improvements Project Cost Thru June Thru June Remaining District 4 Viterbo Road Spur 93-End 101,363 - 101,363 Diamond Avenue 63rd St-Dead End - - - - Willow Avenue Maple-60th St 852,109 26,210 28,332 54,542 797,567 60th Street West Port Arthur-Canal 903,247 32,536 44,324 76,860 826,387 Cedar St 58th St to North End 88,142 - 53,650 53,650 34,492 64th St Garnet-W Port Arthur Rd 201,102 - 140,920 140,920 60,182 58th St Ray Ave to Cedar St 101,013 - 74,235 74,235 26,778 Pine Ave. 60th St.-Dead End 27,681 - 28,604 28,604 (923) Sharon Dr Cambridge-Queens 29,199 - 36,456 36,456 (7,257) Waco Ave Gulfway to Thomas Blvd 50,757 - 15,718 15,718 35,039 Lakeside Plaza H.O.Mills-Cashmere 320,000 - - - 320,000 Beaumont Ave Gulfway-15th St 230,000 - - - 230,000 2,904,613 58.746 422.239 480.985 2,423,628 Total Street Improvement Projects 19,913,561 4,424,925 2,744,947 7,169,872 12,743,689 Funding Sources: EDC Street Maintenance 3,014,123 199,833 368,727 568,560 2,445,563 Community Development Block Grant(CDBG) 603,740 - - 603,740 General Land Office(GLO) 2,374,738 2,088,353 286,385 2,374,738 - General Fund and Miscellaneous 13,920,960 2,136,739 2,089,835 4,226,574 9,694,386 Total Funding Sources 19,913,561 4,424,925 2.744,947 7,169,872 12,743,689 City of Port Arthur 2018 - 2019 Budget Monthly Report June 30, 2019 Total FY 18-19 Project To Total Revised Actual Y-T-D Date Project Captial Improvement Fund Summary Estimated Thru 9/30/18 Actual Actual Balance General Improvements Project Cost Thru June Thru June Remaining Building Renovation Develop Svcs Building One Stop Shop 2,650,000 101,042 560,564 661,606 1,988,394 2,650.000 101.042 560.564 661.606 1988,394 Technology Upgrades Telephone&Infastructure 1,238,000 1,266,128 8,878 1,275,006 (37,006) Police Data Center 133,000 119,006 1,653 120,659 12,341 Network Monitoring Tools 29,000 20,909 90 20,999 8,001 Cloud-based backups 108,000 - - 108,000 Stage 1 ERP Replacement 80,000 - - 80,000 Phase 1 Paper Digitization 150,000 - - 150,000 1,738,000 1.406.043 10.621 1,416,664 321,336 Parks&Recreation Renovations Recreation Center 230,000 - - 230,000 Mosely Pool 70,000 - - 70,000 Lakeview Pool 250,000 - - 250,000 550,000 - - - 550,000 Total General Improcemcnt Projects 4,938,000 1,507,085 571,185 2,078,270 2,859,730 Funding Sources: Lease Proceeds(Technology) 1,223,742 1,223,742 - 1,223,742 - General Fund and Miscellaneous 3,714,258 283,343 571,185 854,528 2,859,730 Total Funding Sources 4,938,000 1,507,085 571,185 2,078,270 2,859,730 City of Port Arthur 2018-2019 Budget Monthly Report June 30,2019 Actual Actual Y-T-D Actual 16-17 17-18 Actual FY17-FY19 Thru June Total Disaster Fund Summary Revenues Federal/State Grants 6,092,224 6,407,776 70,291 12,570,291 Contributions-Donations 10,682 27,424 - 38,106 Insurance Proceeds - 10,015,834 325,313 10,341,147 Lease Proceeds - 2,645 - 2,645 Total Revenues 6,102,906 16,453,679 395,604 22,952,189 Expenditures Salaries and Benefits 3,694,644 790,262 - 4,484,906 Supplies and Materials 63,291 1,636,543 212,270 1,912,104 Maintenance 121,462 2,171,350 1,186,313 3,479,125 Contractual Services 1,082,631 14,882,112 1,123,827 17,088,570 Capital Outlay 1,140,878 1,224,982 598,843 2,964,703 Total Expenditures 6,102,906 20,705,249 3,121,253 29,929,408 Net Current Activity - (4,251,570) (2,725,649) (6,977,219) Beginning Fund Balance - - (4,251,570) Ending Fund Balance - (4,251,570) 6,977,219 Summary by Category Emeroencv Debris Response Equipment Vehicles Facilities Contents Other DAC At Risk Total Revenues FEMA/State $ 12,500,000 $ - $ - $ - $ 65,476 $ - $ 4,815 $ - $ - $ 12,570,291 Insurance - - 1,236,997 3,314,837 1,961,008 3,808,305 20,000 - - 10,341,147 Lease Proceeds - - - - - - 2,645 - - 2,645 Donations - - - - - - 38,106 - - 38,106 Total 12,500,000 - 1,236,997 3,314,837 2,026,484 3,808,305 65,566 - - 22,952,189 Exoendilures Personnel - 2,911,379 - - - - - - 1,573,527 4,484,906 Supplies&Materials - - - - 1,912,104 - - - 1,912,104 Maintenance - - 375,344 840,162 1,416,650 506,837 340,131 - - 3,479,124 Contractual Servic 12,875,438 - - - - - 2,593,838 1,619,294 - 17,088,570 Capital Outlay - - 318,539 1,474,944 866,404 304,817 - - - 2,964,704 Total 12,875,438 2,911,379 693,883 2,315,106 2,283,054 2,723,758 2,933,969 1,619,294 1,573,527 29,929,408 Balance $ (375,438) $(2,911,379) S 543,114 $ 999,731 $ (256,570) S 1,084,547 S (2,868,403) S (1,619,294) S (1,573,527) $ (6,977,219) Reimbursements Pending FEMA PW 4129 Fire 274,025 204,732 3,274 482,031 PW 3640 Police 815,300 260,320 6,103 1,081,723 PW 1701 Debris 243,616 243,616 PW 40759 Electrical Bldg - - - 6,929 - - - - 6,929 Total 243,616 1,089,325 204,732 260,320 6,929 - 9,377 - - 1,814,299 City of Port Arthur, Texas Investment Report Portfolio Management Summary For the Quarter Ended June 30, 2019 SUMMARY: Accrued Interest Average %of Face Market Book Interest Earned Days to Portfolio Yield Amount Value Value At Qtr End During Qtr Maturity Portfolio At Beginning of Period(03/3112018) 85,957,900.76 85,964.330.03 85,957,900.76 Bank Deposits 5.47% 0.0000% 4,208,976.49 4,208,976.49 4,208,976.49 0.00 0.00 1 Local Govt Investment Pools 94 53% 2.4030% 72,709,170.48 72,709,170.48 72,709,170 48 0.00 448,566.90 35 Agency Securities 0.00% 0.0000% 0.00 0.00 0.00 0.00 0.00 0 Total/Average at End of Period(06/30/2019) 100.00% 2.2715°/Q 76.918.146,97 76,918.146.97 76.918.146.97 Q,QQ 448.566.90 23 DETAIL: Accrued Interest Average Buy Maturity Face Market Book Interest Earned Days to Cusip Date Description Date Yield Amount Value Value At Qtr End During Qtr Maturity BANK DEPOSITS 06/30/2019 Capital One Bank 07/01/2019 0.0000% 4,208,976.49 4,208,976.49 4,208,976.49 0.00 0.00 1 Total Bank Deposits 0.0000% 4,208.976.49 4,208,976.49 4,208,976.49 0.00 0.00 1 LOCAL GOVERNMENT INVESTMENT POOLS 06/30/2019 Texpool 07/01/2019 2.3844% 22,468,765.38 22,468,765.38 22,468,765.38 0.00 141,783.25 34 06/30/2019 Tex Star 07/01/2019 2.4027% 25,098,707.35 25,098,707.35 25,098,707.35 0.00 153,352.19 23 06/30/2019 Texas Class 07/01/2019 2.4200% 25,141,697.75 25,141,697.75 25,141,697.75 0.00 153,431.46 47 Total Local Government Investment Pool 2.4030% 72,709,170.48 72,709,170.48 72,709,170.48 0.00 448,566.90 35 AGENCY SECURITIES 0.0000% 0.00 0.00 0.00 0 00 0.00 0 Total Agency Securities 0.0000% 0.00 0.00 0.00 0.00 0.00 0 Total Portfolio(06/30/2019) 2.2715% 76,918,146.97 76,918,146.97 76,918,146.97 0.00 448 566.90 33 This report has been prepared in accordance with the law of the State of Texas and more specifically with the Public Funds Investment Act (Section 2256, Government Code as amended) and in accordance with the City's investment strategy and investment policy as approved by the Port Arthur City Council. Prepared By: ., C.��' 1 J C� , i `i Kandy Daniel,Ihterim Finance Director Reviewed By: Alex/ /444 i old Hankins,Assistant Finance Director - . , a. 2L0LLL, Rebecca Underhill, Interim City Manager