C I TY O F P L A NO

C OMP RE HEN SIVE M ON TH LY

F I N A NC IAL R EPOR T
MA RCH | 2 0 2 3
 ABOUT THIS REPORT

The City of Plano Finance Department is dedicated to excellence in local government, comprehensive
fiscal management, compliance and reporting. The Comprehensive Monthly Financial Report (CMFR) is
a unique document, directed at providing our audience (internal and external users) with the general
awareness of the City’s financial positions and economic activity.

The report is comprised of three sections:

A. The Financial Analysis reports the performance of the major operating funds of the City.
Narrative disclosures are used to highlight any significant changes or fluctuations.
B. The Economic Analysis section contains a summary of the key economic indicators and an in-
depth review with graphic illustrations.
C. The Investment Report provides a description of investment activity during the month and a
summary of interest earnings.

We would like to acknowledge those responsible for this report: Summer Corey for the Financial Analysis
and Mark Whittaker for the Economic Analysis and Investment Report.

The CMFR is intended to provide our audience with a timely, unique and informative document. Please
provide us with any comments or suggestions you may have and should you desire additional
information, feel free to contact my office.

Denise Tacke

Director of Finance

P.O. Box 860358

Plano, TX 75006-0358

972-941-7135

City of Plano * Comprehensive Monthly Financial Report * March 2023

 SECTION A

FINANCIAL ANALYSIS
City of Plano
Comprehensive Monthly Financial Report

This report is designed for internal use and does not include all the funds and accounts included
in the City of Plano’s operations. For a complete report, refer to the City of Plano Annual
Comprehensive Financial Report, available on the City of Plano website and through the City’s
Finance Department.
 FINANCIAL ANALYSIS
MARCH 2023
GENERAL FUND
2021-22 2022-23 2022-23 2022-23
YTD Actual Orig. Budget YTD Actual YTD % of Budget
Revenues:
Taxes
Property Tax $ 149,089,707 $ 151,129,938 $ 150,384,421 99.5%
Sales Tax 52,007,765 100,624,485 55,917,428 55.6%
Other Tax 1,391,617 2,958,094 1,396,263 47.2%
Franchise fees 12,005,390 19,332,069 13,306,406 68.8%
Other 13,969,580 35,019,165 19,162,614 54.7%
Total 228,464,059 309,063,751 240,167,132 77.7%

Expenditures and encumbrances:

Expenditures 146,108,046 322,006,582 157,658,906 49.0%
Reimbursements to/(from)
other funds (2,244,228) (23,771,597) (2,378,114) 10.0%
Capital outlay 180,382 2,305,865 1,879,350 81.5%
Total 144,044,200 300,540,850 157,160,142 52.3%

Excess (deficiency) of revenues

over (under) expenditures 84,419,859 8,522,901 83,006,990

Other financing sources (uses):

Transfers in 10,796,960 23,125,775 11,562,887 50.0%
Transfers out (31,354,325) (59,988,608) (32,232,440) 53.7%

Net change in fund balance 63,862,494 (28,339,932) 62,337,437

Fund balance - October 1 65,548,677 68,359,269
Fund balance - March 31 $ 129,411,171 $ 130,696,706
Revenues
 Tax collections increased $5,209,023 in the current year primarily due to higher sales tax revenue
of $3,909,663 due to continued increased consumer spending after emerging from the pandemic.
Although the property tax rate decreased in the current year, property tax collections increased
comparatively by $1,294,714. Residential and multi-family properties increased by $2,276,986 and
$150,187, respectively, due to higher property appraisals, while commercial properties are lower
than prior year by $1,132,459.
 Franchise fee revenue increased $1,301,016 compared to prior year primarily due to increased
usage for electric and gas franchises.
 Miscellaneous revenues, primarily interest income, increased $5,138,728 due to quarterly market
adjustments based on current market conditions, as required by Governmental Accounting
Standards Board (GASB) Statement No. 31.
Expenditures
 Personnel services expenditures increased $6,757,224 due to a 3.5% salary increase effective
October 1, 2022, higher health benefit costs, and overtime charges in the Police Department
primarily due to being understaffed.
 Materials and supplies increased $958,464 due to additional weapon purchases for new Police
Officer recruits, equipment needed for additional Fire Department personnel, along with new
equipment for Fire Special Operations team members.
 Contractual and professional expenditures increased $3,796,894 due to increased costs related to
maintenance agreements, travel and professional development and municipal garage charges. In
addition, replacement charges for rolling stock or large capital items increased in the current year.
These expenditures represent departments paying into their respective depreciation accounts to
fund a future replacement.
 Capital outlay encumbrances increased $1,698,968 primarily due to thermal linings and training
props for the new Fire training facility, as well as defibrillators and power cots for three new
ambulances.

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-1

 FINANCIAL ANALYSIS
MARCH 2023 
 
ENTERPRISE FUNDS
 
WATER AND SEWER
2021-22 2022-23 2022-23 2022-23
YTD Actual Orig. Budget YTD Actual YTD % of Budget
Revenues:
Water and sewer
revenues $ 82,524,086 $ 187,394,699 $ 90,283,677 48.2%
Other (44,469) 3,281,293 1,000,212 30.5%
Total 82,479,617 190,675,992 91,283,889 47.9%
Expenditures and encumbrances:
Expenditures 63,503,149 154,884,717 69,898,273 45.1%
Reimbursements to/(from)
other funds 517,185 951,568 475,784 50.0%
Capital outlay 1,161 - 26,360 0.0%
Total 64,021,495 155,836,285 70,400,417 45.2%
Excess (deficiency) of revenues
over (under) expenditures 18,458,122 34,839,707 20,883,472
Other financing sources (uses):
Transfers in - 5,000,000 2,500,000 50.0%
Transfers out (20,600,702) (47,912,179) (22,446,090) 46.8%
Net change in fund balance (2,142,580) (8,072,472) 937,382
Fund balance - October 1 418,927,650 427,716,183
Fund balance - March 31 $ 416,785,070 $ 428,653,565  
Revenues
 Revenues from fees and service charges increased $7,759,591 primarily due to water and sewer
rate increases effective November 1, 2022.
Expenses
 Personnel services expenditures increased $609,547 primarily due to a 3.5% salary increase
effective October 1, 2022, higher health benefit costs, and overtime charged due to the Automated
Meter Reading (AMR)/Meter Replacement Project in order to adhere to the completion schedule.
 Costs for materials and supplies increased $507,121 primarily due to maintenance parts and
supplies expenses and encumbrances associated with the AMR/Meter Replacement Project, as
well as timing of encumbrances for billing postage.
 Rate increases by North Texas Municipal Water District (NTMWD), effective October 1, 2022,
resulted in higher contractual and professional services costs by $5,278,456 over prior year.

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-2

 
 FINANCIAL ANALYSIS
MARCH 2023
SUSTAINABILITY AND ENVIRONMETAL SERVICES
2021-22 2022-23 2022-23 2022-23
YTD Actual Orig. Budget YTD Actual YTD % of Budget
Revenues:
Commercial solid waste franchise $ 4,701,361 $ 9,261,448 $ 4,687,624 50.6%
Refuse collection 7,826,309 17,788,271 8,571,746 48.2%
Other 1,753,143 6,230,862 1,598,342 25.7%
Total 14,280,813 33,280,581 14,857,712 44.6%
Expenditures and encumbrances:
Expenditures 16,132,860 31,059,064 15,421,224 49.7%
Reimbursements to/(from)
other funds 23,799 339,718 35,583 10.5%
Capital outlay - 15,000 4,180 27.9%
Total 16,156,659 31,413,782 15,460,987 49.2%
Excess (deficiency) of revenues
over (under) expenditures (1,875,846) 1,866,799 (603,275)
Other financing sources (uses):
Transfers out (1,485,269) (2,961,628) (1,480,814) 50.0%
Net change in fund balance (3,361,115) (1,094,829) (2,084,089)
Fund balance - October 1 1,722,201 (1,069,785)
Fund balance - March 31 $ (1,638,914) $ (3,153,874)
Revenues
 Revenues from residential refuse increased $745,437 due to service rate increases effective
December 1, 2022.
 Other fees and service charges decreased $154,801 primarily due to a decline in compost sales
and tipping fees.
Expenses
 Personnel services expenditures increased $160,883 primarily due to a 3.5% salary increase
effective October 1, 2022, and higher health benefit costs, offset by decreased overtime in the
current year.
 Materials and supplies to process mulch colorant increased $145,484, in anticipation for spring
demand.
 Contractual and professional expenses and encumbrances decreased $948,983 primarily due to a
decline in temporary labor for compost operations and additional trash and recycling cart orders
compared to prior year.

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-3

 FINANCIAL ANALYSIS
MARCH 2023 
 
MUNICIPAL DRAINAGE
2021-22 2022-23 2022-23 2022-23
YTD Actual Orig. Budget YTD Actual YTD % of Budget
Revenues:
Drainage fees $ 4,938,902 $ 9,807,088 $ 4,965,018 50.6%
Other (135,200) 132,502 150,196 113.4%
Total 4,803,702 9,939,590 5,115,214 51.5%
Expenditures and encumbrances:
Expenditures 2,185,392 5,176,233 2,500,874 48.3%
Capital outlay 91 537,000 83,709 15.6%
Total 2,185,483 5,713,233 2,584,583 45.2%
Excess (deficiency) of revenues
over (under) expenditures 2,618,219 4,226,357 2,530,631
Other financing sources (uses):
Transfers out (2,579,678) (5,372,681) (1,708,840) 31.8%
Net change in fund balance 38,541 (1,146,324) 821,791
Fund balance - October 1 49,787,374 48,808,485
Fund balance - March 31 $ 49,825,915 $ 49,630,276  
Revenues
 Miscellaneous revenues, primarily interest income, increased $285,396 due to quarterly market
adjustments based on current market conditions, as required by Governmental Accounting
Standards Board (GASB) Statement No. 31.
Expenses
 Personnel services expenses increased $128,521 primarily due to a 3.5% salary increase effective
October 1, 2022, higher health benefit costs, and overtime charged due to the winter storm in the
current year.
 Contractual and professional costs related to debris hauling increased $107,347 due to timing of
encumbrances, while the budget remains comparable to prior year.
 Capital outlay expenses increased $83,618 primarily due to the purchase of a truck for
Environmental Quality.

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-4

 
 FINANCIAL ANALYSIS
MARCH 2023 
 
CONVENTION AND TOURISM
2021-22 2022-23 2022-23 2022-23
YTD Actual Orig. Budget YTD Actual YTD % of Budget
Revenues:
Hotel occupancy tax $ 3,469,995 $ 12,295,401 $ 4,843,785 39.4%
Other 1,244,487 3,040,150 1,750,871 57.6%
Total 4,714,482 15,335,551 6,594,656 43.0%
Expenditures and encumbrances:
Expenditures 6,285,899 13,860,507 7,405,465 53.4%
Capital outlay 1,880 66,000 - 0.0%
Total 6,287,779 13,926,507 7,405,465 53.2%
Excess (deficiency) of revenues
over (under) expenditures (1,573,297) 1,409,044 (810,809)
Other financing sources (uses):
Transfers out (739,111) (2,527,419) (1,263,710) 50.0%
Net change in fund balance (2,312,408) (1,118,375) (2,074,519)
Fund balance - October 1 6,720,250 6,289,438
Fund balance - March 31 $ 4,407,842 $ 4,214,919  
Revenues
 Hotel occupancy tax increased $1,373,790 as travel continues to rise since the pandemic.
Expenses
 Personnel services expenses increased $144,013 primarily due to a 3.5% salary increase effective
October 1, 2022, and higher health benefit costs.
 Contractual and professional expenses and encumbrances increased $888,715 due to timing of
cultural arts and heritage preservation grant payments, with current year budgets remaining the
same as prior year. Additionally, more events scheduled in the current year have resulted in
increased temporary labor and advertising costs. Fees related to networking events, association
meetings and trade shows have also increased in the current year, as reflected in the budget. In
addition, a one-time contractual repair service fee for the sewage system at Plano Event Center
increased expenses in the current year.

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-5

 
 FINANCIAL ANALYSIS
MARCH 2023 
 
MUNICIPAL GOLF COURSE
2021-22 2022-23 2022-23 2022-23
YTD Actual Orig. Budget YTD Actual YTD % of Budget
Revenues:
Fees and service charges $ 504,235 $ 1,253,656 $ 439,741 35.1%
Other (7,656) 92,105 11,741 12.7%
Total 496,579 1,345,761 451,482 33.5%
Expenditures and encumbrances:
Expenditures 521,036 1,390,033 554,562 39.9%
Total 521,036 1,390,033 554,562 39.9%
Excess (deficiency) of revenues
over (under) expenditures (24,457) (44,272) (103,080)
Other financing sources (uses):
Transfers out (30,403) (67,288) (33,644) 50.0%
Net change in fund balance (54,860) (111,560) (136,724)
Fund balance - October 1 871,250 1,081,038
Fund balance - March 31 $ 816,390 $ 944,314  
Revenues
 Fees and service charges, including green fees and concessions revenue, decreased $64,494 due
to less rounds played in the current year. The golf course has been closed to players 8 more days
than prior year because of unfavorable weather.
Expenses
 Personnel services expenses increased $21,948 primarily due to a 3.5% salary increase effective
October 1, 2022, and higher health benefit costs.
 
RECREATION REVOLVING
2021-22 2022-23 2022-23 2022-23
YTD Actual Orig. Budget YTD Actual YTD % of Budget
Revenues:
Fees and service charges $ 1,118,720 $ 3,643,658 $ 1,377,973 37.8%
Other (4,321) 64,296 92,245 143.5%
Total 1,114,399 3,707,954 1,470,218 39.7%
Expenditures and encumbrances:
Expenditures 818,288 3,786,428 1,473,167 38.9%
Total 818,288 3,786,428 1,473,167 38.9%
Excess (deficiency) of revenues
over (under) expenditures 296,111 (78,474) (2,949)
Other financing sources (uses):
Transfers out (78,030) (221,706) (110,853) 50.0%
Net change in fund balance 218,081 (300,180) (113,802)
Fund balance - October 1 2,506,953 2,760,030
Fund balance - March 31 $ 2,725,034 $ 2,646,228
 
Revenues
 Recreation fees and service charges increased $259,253 primarily due to higher recreation
participation in the current year as a result of lifted restrictions.
Expenses
 Contractual and professional expenses increased $635,131 related to recreation instructor fees as
the number of classes and programs offered, as well as participation, continue to rise. The
increase in expenses is offset by prior year reimbursements from American Rescue Plan Act
funding to support recreation revolving programs. There are no reimbursements in the current
year.

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-6

 
 FINANCIAL ANALYSIS
MARCH 2023 
 
EQUITY IN TREASURY POOL
EQUITY IN TOTAL TOTAL TOTAL
FUND NO. FUND NAME CASH TREASURY POOL 3/31/23 10/1/2022 3/31/22

GENERAL FUND:
1 General $ 23,925 128,530,721 128,554,646 59,246,116 126,654,228
7 Unclaimed Property - 328,032 328,032 297,197 302,757
63 Rainy Day Fund - 5,002,943 5,002,943 2,906,125 2,964,394
77 Payroll - 5,606,188 5,606,188 5,374,381 6,146,105
84 Rebate - 368,903 368,903 392,879 400,756
23,925 139,836,787 139,860,712 68,216,698 136,468,240
DEBT SERVICE FUND:
3 G.O. Debt Service - 52,130,758 52,130,758 5,058,371 47,155,784
- 52,130,758 52,130,758 5,058,371 47,155,784
CAPITAL PROJECTS:
21 Recreation Centers Renovations - (17,466) (17,466) - -
22 Recreation Center Facilities - 726,883 726,883 693,221 822,652
23 Street Enhancement - 620,345 620,345 606,829 618,996
25 Police & Courts CIP - 796,703 796,703 779,343 821,283
27 Library CIP - 563,277 563,277 745,460 732,306
28 Fire & Public Safety CIP - 1,984,142 1,984,142 3,079,406 2,543,276
29 Technology Improvements - 906,834 906,834 887,076 1,032,038
31 Municipal Facilities CIP - (175,148) (175,148) (161,020) 84,025
32 Park Improvements - 11,965,592 11,965,592 12,151,134 12,836,380
33 Street & Drainage Improvement - 47,409,006 47,409,006 46,112,885 48,424,861
35 Capital Maintenance - 71,362,875 71,362,875 62,017,574 51,899,003
39 Public Infrastructure - 530,561 530,561 (369,737) 639,335
52 Park Service Areas Fees - 8,866,791 8,866,791 8,587,368 8,564,905
53 Neighborhood Services Facility CIP - 24,069 24,069 23,544 24,017
59 Service Center Facilities - (112,084) (112,084) (109,756) 1,851
74 Developers' Escrow - 3,208,332 3,208,332 2,951,265 3,010,493
85 Public Arts - 82,879 82,879 81,074 103,941
160 TXDOT-SH121 - 2,010,152 2,010,152 1,999,153 2,201,391
230 Tax Notes Clearing - 2017 - 1,859,864 1,859,864 2,101,917 3,476,606
190 G.O. Bond Clearing - 2018 - - - - 1,682,688
250 G.O. Bond Clearing - 2020 - 25,380 25,380 2,824,636 11,416,501
102 G.O. Bond Clearing - 2021 - 20,761,630 20,761,630 33,339,035 55,796,330
82 G.O. Bond Clearing - 2022 - 54,417,018 54,417,018 78,155,688 -
- 227,817,635 227,817,635 256,496,095 206,732,878

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-7

 
 FINANCIAL ANALYSIS
MARCH 2023
EQUITY IN TOTAL TOTAL TOTAL
FUND NO. FUND NAME CASH TREASURY POOL 3/31/23 10/1/2022 3/31/22

ENTERPRISE FUNDS:
26 Municipal Drainage CIP - (1,299,087) (1,299,087) (1,275,475) 53,450
34 Sewer CIP - 21,572,984 21,572,984 20,605,150 18,710,048
36 Water CIP - 17,554,913 17,554,913 16,590,149 20,102,551
37 Downtown Center Development - 994,731 994,731 941,562 928,578
41 Water & Sewer - Operating 1,485,911 30,686,351 32,172,262 31,959,813 16,845,780
42 Water & Sewer - Debt Service - 856,041 856,041 837,389 2,337,264
43 Municipal Drainage - Debt Service - 5,048,366 5,048,366 4,938,367 6,062,316
45 Sustainability & Environmental Services 5,961 (3,028,378) (3,022,417) (1,698,808) (1,356,096)
46 Convention & Tourism 4,567 3,845,816 3,850,383 3,364,827 3,254,852
47 Municipal Drainage - Operating - 7,039,149 7,039,149 6,149,399 6,149,772
48 Municipal Golf Course - 477,851 477,851 590,636 313,658
51 Recreation Revolving 400 2,452,615 2,453,015 2,445,460 2,275,495
280 Water & Sewer Rev Bond Clearing - 2021 - 4,490,375 4,490,375 4,530,381 5,762,813
106 Municipal Drain Rev Bond Clearing - 2021 - 25,123,678 25,123,678 28,693,454 33,149,574
1,496,839 115,815,405 117,312,244 118,672,304 114,590,055

SPECIAL REVENUE FUNDS:

2 Sproles Library - 361,514 361,514 - -
8 Library Training Lab - (189) (189) - -
11 Advanced Funding Grants - 69,050 69,050 59,067 1,122,982
12 Criminal Investigation - 3,954,187 3,954,187 4,009,997 3,965,778
13 Grant - (137,385) (137,385) (998,552) (666,426)
14 9-1-1 Fees - 20,458,682 20,458,682 20,653,715 20,714,401
15 Judicial Efficiency - 234,768 234,768 229,257 233,275
17 Intergovernmental - 2,536,053 2,536,053 2,115,910 2,167,925
18 Government Access/CATV - 1,983,124 1,983,124 1,952,333 1,971,269
19 Teen Court Program - 62,304 62,304 59,259 62,061
20 Municipal Courts Technology - 1,374,281 1,374,281 1,436,100 1,425,550
24 S.E.L Programs - 775,551 775,551 765,578 472,801
55 Municipal Court-Building Security Fees - 715,548 715,548 749,046 810,661
56 Community Paramedic Program - 145,873 145,873 84,169 125,037
57 Federal/State Library Grants - 14,630 14,630 41,141 39,852
67 Disaster Relief - (389,509) (389,509) (1,305,401) (1,593)
68 Animal Shelter Donations - 652,855 652,855 563,461 614,817
69 Collin County Seized Assets - 168,208 168,208 172,294 153,304
73 Memorial Library - 468,655 468,655 463,193 494,194
76 American Rescue Plan - 15,880,746 15,880,746 15,900,000 15,900,000
86 Juvenile Case Manager - 2,401,418 2,401,418 2,344,085 2,370,146
87 Traffic Safety - 6,222,722 6,222,722 6,377,261 6,916,515
88 Child Safety - 2,109,154 2,109,154 1,893,687 2,184,476
170 Economic Development Incentive - 75,179,197 75,179,197 69,130,410 67,160,267
- 135,241,437 135,241,437 126,696,010 128,237,292
INTERNAL SERVICE FUNDS:
58 PC Replacement - 6,817,451 6,817,451 6,634,033 5,866,591
61 Equipment Maintenance - 2,717,436 2,717,436 2,704,993 2,725,790
62 Information Services - 3,410,172 3,410,172 3,513,571 3,572,443
64 Warehouse - (1,154,837) (1,154,837) (350,009) (667,982)
65 Risk Management - 5,933,371 5,933,371 6,125,236 5,001,806
66 Technology Services - 6,110,913 6,110,913 6,062,123 6,011,994
71 Equipment Replacement - 39,345,699 39,345,699 37,473,165 37,942,065
78 Health Claims - 9,914,994 9,914,994 9,614,675 14,638,546
- 73,095,199 73,095,199 71,777,787 75,091,253

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-8

 FINANCIAL ANALYSIS
MARCH 2023 
 

EQUITY IN TOTAL TOTAL TOTAL

FUND NO. FUND NAME CASH TREASURY POOL 3/31/23 10/1/2022 3/31/22

DISCRETELY PRESENTED COMPONENT UNIT:

4 TIF No. 3 Silver Line - 666,962 666,962 471,861 471,861
5 TIF No. 2 East Side - 11,554,050 11,554,050 12,882,008 13,131,167
- 12,221,012 12,221,012 13,353,869 13,603,028
BLENDED COMPONENT UNITS:
16 Plano Improvement Corporation - 11,575 11,575 29,849 17,185
49 Downtown Public Improvement District - 82,753 82,753 71,967 89,485
- 94,328 94,328 101,816 106,670
FIDUCIARY FUNDS:
91 115 Trust - (3,159,872) (3,159,872) (2,668,245) (1,887,673)
- (3,159,872) (3,159,872) (2,668,245) (1,887,673)
TOTAL $ 1,520,764 753,092,689 754,613,453 657,704,705 720,097,527

TRUST TOTAL TOTAL TOTAL

CASH INVESTMENTS 3/31/23 10/1/2022 3/31/22
TRUST FUNDS
72 Retirement Security Plan - 194,721,041 194,721,041 176,512,719 208,884,238
91 115 Trust - 117,969,866 117,969,866 104,883,428 125,242,018
TOTAL TRUST FUNDS $ - 312,690,907 312,690,907 281,396,147 334,126,256

A Treasury Pool fund has been created for the purpose of consolidating cash and investments. All City funds not restricted or held in
trust are included in this consolidated fund. Each fund's "Equity in Treasury Pool" represents the fund's proportionate share of the
Treasury Pool Fund. At March 31, 2023, the Treasury Pool, including an adjustment to Fair Value as required by GASB 31,
consisted of the following:
Cash 6,466,667
Local Government Investment Pool 4,877,375
Texas Daily 57,315,986
Texas CLASS 52,425,087
Texas Fixed Income Trust 56,027,200
Federal Securities 244,688,293
Certificates of Deposit 21,280,582
Fair Value Adjustment (24,392,539)
Municipal Bonds 321,876,270
Texas Term 10,000,000
Interest Receivable 2,527,768
753,092,689

Note: Negative cash in the capital projects funds is attributed to unrealized interest losses in bond clearing funds
which are allocated to capital projects at the end of the year.

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-9

 
 FINANCIAL ANALYSIS
MARCH 2023
 
HEALTH CLAIMS FUND

Total
Variance
FY'23 FY'22 Favorable/(Unfavorable)

Revenues
Contributions
Employee Contributions 3,588,467 3,349,110 239,357
Tobacco Surcharge 16,750 8,700 8,050
Employer Contributions 16,196,868 12,635,941 3,560,927
Cobra Contributions 41,411 22,005 19,406
Miscellaneous Revenues - 10,620 (10,620)
19,843,496 16,026,376 3,817,120

Investment Income 100,234 105,496 (5,262)

Total Revenues 19,943,730 16,131,872 3,811,858

Expenses
Claims
Medical 16,248,466 15,916,783 (331,683)
Dental 1,054,358 1,006,630 (47,728)
Rx (net claims after rebates) 1,976,881 2,599,548 622,667
19,279,705 19,522,961 243,256

Fees & Expenses 1,131,379 1,108,278 (23,101)

Stop Loss
Premiums 1,104,843 973,363 (131,480)
Reimbursements (1,974,177) (1,158,292) 815,885
(869,334) (184,929) 684,405

Total Expenses 19,541,750 20,446,310 904,560

Net Increase (Decrease) 401,980 (4,314,438) 4,716,418

Fund Balance - Oct 1 6,739,594 16,550,548

Fund Balance -Mar 31 7,141,574 12,236,110

ANALYSIS OF PROPERTY LIABILITY LOSS FUND

THROUGH MARCH 31 OF FISCAL YEARS 2023, 2022 AND 2021

Fiscal Year Fiscal Year Fiscal Year

2023 2022 2021
PROPERTY LIABILITY LOSS FUND

Workers Compensation Claims $ 1,299,683 $ 1,819,535 $ 1,347,633

Judgments/Damages/Attorney Fees 580,853 597,059 836,519

Less: Insurance/Damage Receipts 245,601 485,302 181,860

Net Expenses (Revenues) $ 1,634,935 $ 1,931,292 $ 2,002,292

City of Plano * Comprehensive Monthly Financial Report * March 2023 A-10

 
 SECTION B

ECONOMIC ANALYSIS
City of Plano
Comprehensive Monthly Financial Report
 ECONOMIC ANALYSIS
MARCH 2023
 

Figure I shows a breakdown of the

General Fund Revenue various sources of revenues for the
Figure I showsFund
City’s General a breakdown
year to dateof
March YTD - Figure I through
the March
various 31, 2023.
sources The largest
of revenues
category
for is Residential
the City’s General Property
Fund yearTax
totaling $73,989,135. Closest
to date through March 31, 2023. behind
Residential Property Tax is
The largest category is
2% 3% 2% Property Tax- Residential Commercial Property Tax totaling
1% Residential Property Tax
$58,950,693 and Sales Tax totaling
6% Property Tax- Multi-Family totaling $73,989,135.
$55,917,428. Closest
31% behind Residential Property Tax
Property Tax- Commercial
is Commercial Property Tax
Sales Tax
totaling $58,950,693 and Sales
Franchise Fees Tax totaling $55,917,428.
23% Fines & Forfeitures
Licenses & Permits

7% Fees & Service Charges

Miscellaneous Revenues

25%

General Fund Expenditures and

Figure II shows a breakdown of the
Encumbrances March YTD - Figure II
various expenditures and
encumbrances for the City’s
General Fund year to date through
March 31, 2023. The largest
category is Personnel Services for
Personnel Services
Public Safety Services totaling
-2%
$76,801,234 which includes the 1% 1%
police, fire, fire-civilian, public safety Personnel Services
21% 25% Public Safety
communications, environmental
health, and animal control Materials & Supplies
departments. Closest behind that
category is Personnel Services 5% Contractual Professional
(non-Public Safety) category totaling
$39,857,319 and Contractual and Sundry
Professional Services totaling
$32,956,111. Capital Outlay

Reimbursements Other
49%

City of Plano * Comprehensive Monthly Financial Report * March 2023 B-1 

 ECONOMIC ANALYSIS
MARCH 2023
 
Sales Tax Comparisons Figure III shows sales tax allocations
collected in the months of April 2021,
City of Plano and Area Cities April 2022, and April 2023 for the
Figure III City of Plano and nine area cities.
$35,000,000 22.94% 25% Each of the cities shown has a sales
tax rate of 1%, except for the cities of
$30,000,000 17.16% 20% Allen and Frisco, which have a 2%
15.23% rate, but distribute half of the amount
$25,000,000 shown in the graph to 4A and 4B
12.91% 10.38% 14.44% 15%
Tax Revenues

Percentage Change
development corporations within
$20,000,000
their respective cities, and the City of
12.23% 10%
$15,000,000
Arlington which has a 1.75% sales
9.50% 2.75%
tax rate with .25% dedicated to road
-0.32% 5% maintenance and .50% for funding of
$10,000,000
the Dallas Cowboys Complex
$5,000,000 0% Development Project. In the month
of February, the City of Plano
$0 -5% received $8,876,401 from this 1%
tax.
The percentage change in sales tax
allocations for the area cities,
comparing April 2023 to April 2022,
April 2021 April 2022 April 2023 ranged from -0.32% for the City of
Frisco to 22.94% for the City of
Irving.

Sales tax allocation of $8,030,741 $15,000,000

was remitted to the City of Plano in
the month of April. This amount
represents an increase of 10.38%
compared to the amount received in
$11,722,418

April 2022. Sales tax revenue is $10,000,000

$10,868,056

generated from the 1% tax on

$9,958,094

applicable business activity within

$8,876,401

the City. These taxes were collected

$8,030,741
$7,749,110

$7,275,415

by businesses on February
$6,713,629

revenue, reported in March to the

$6,075,688

$5,000,000
State, and received in April by the
City of Plano.

Figure IV represents actual sales

and use tax receipts for the months
of February, March, and April of the $0
last three fiscal years. February March April
2020-21 2021-22 2022-23

City of Plano * Comprehensive Monthly Financial Report * March 2023 B-2 

 ECONOMIC ANALYSIS
MARCH 2023
 
Cumulative Jobs Created in Plano
Figure V
45,000  50

40,000
 40
Number of Jobs Created by 380

Number of Abatements Offered

35,000

 30
30,000

25,000
 20

20,000

 10
15,000

10,000  ‐

Tax Abatements Offered Jobs by 380 Grant

Figure V tracks the number of jobs cumulatively created in Plano due to the City entering into a 380 Economic Development
Agreement (380 Grant) and the number of cumulative tax abatements offered.

The City of Plano occasionally uses property tax abatements to attract new industry and commercial enterprises, and to
encourage the retention and development of existing businesses. The City can limit the property taxes assessed on real
property or tangible personal property located on real property due to the repairs or improvements to the property. Only
property located within a reinvestment zone is eligible for a tax abatement agreement. During this past quarter, there were
no approved tax abatements.

Enacted by the Texas Legislature in 1991, 380 Agreements let cities make loans and grants of public money to businesses
or developers in return for building projects within the city. Cities often pay these grants from the increase in sales or property
taxes generated by the project. During this past quarter, there were no jobs created via 380 agreements.

Please note that the information presented in this figure is updated quarterly based on the date the agreement was passed
by City Council. This figure represents information since the creation of the Economic Development Fund in 2006 and does
not reflect the full history of incentives offered.

City of Plano * Comprehensive Monthly Financial Report * March 2023 B-3 

 ECONOMIC ANALYSIS
MARCH 2023
 

Local Water Consumption In March, the City of Plano pumped

(Gallons) - Figure VI 1,343,480,000 gallons of water from
the North Texas Municipal Water
3,000,000,000 District (NTMWD). The minimum
daily water pumpage was
2,500,000,000 36,720,000 gallons, which occurred
on Wednesday, March 1st.
2,000,000,000 Maximum daily pumpage was
52,030,000 gallons and occurred on
1,500,000,000 Monday, March 13th. This month’s
average daily pumpage was
1,000,000,000
43,338,000 gallons.
500,000,000
Figure VI shows the monthly actual
- local water consumption.

The actual water and sewer

customer billing revenues in Annualized Water & Sewer Billings
March were $6,579,973 and Figure - VII
$7,073,238 representing an
$225,000,000
increase of 9.71% and
13.13% respectively,
compared to March 2022 $200,000,000
revenues. The aggregate
water and sewer accounts $175,000,000
totaled $13,653,211 for an
increase of 11.45%. $150,000,000

March consumption brought $125,000,000

annualized revenue of
$115,455,768 for water and $100,000,000
$80,799,362 for sewer,
totaling $196,255,130. This $75,000,000
total represents an increase of
16.37% compared to last $50,000,000
year’s annualized revenue.
$25,000,000
Figure VII represents the Mar-19 Mar-20 Mar-21 Mar-22 Mar-23
annualized billing history of
water and sewer revenues for Series7 Series5
March 2019 through March
2023.

City of Plano * Comprehensive Monthly Financial Report * March 2023 B-4 

 ECONOMIC ANALYSIS
MARCH 2023
 
February revenue from hotel/motel
occupancy tax was $910,356. This
represents an increase of $212,324 or Hotel/Motel Occupancy Tax
30.42% compared to February 2022. The Six Month Trend - Figure VIII
average monthly revenue for the past six
months was $913,255, an increase of 1,000,000
30.40% from the previous year’s average.
The six-month average for East Plano 900,000
decreased to $182,502 the West Plano 800,000
average increased to $614,494, and the
Plano Pkwy average increased to $116,260 700,000
from the prior year. 600,000
500,000
Plano entered into a Voluntary Collection
Agreement with Airbnb effective May 1, 400,000
2019. Airbnb occupancy tax revenue
300,000
received for February was $52,963. Plano
also entered into a Voluntary Collection 200,000
Agreement with HomeAway effective 100,000
February 1, 2020. HomeAway occupancy tax
received for February was $1,986. Additional -

Jun-20

Oct-20
Dec-20

Dec-22
Apr-20

Oct-21
Dec-21
Aug-20

Apr-21
Jun-21
Aug-21

Apr-22
Jun-22

Oct-22
Aug-22
Feb-20

Feb-21

Feb-22

Feb-23
revenue received for corporate housing and
other short-term rentals was $4,486. These
amounts are not represented in the totals
above.
WEST PLANO PLANO PKWY EAST PLANO

The six-month trend amount will not equal the hotel/motel taxes reported in the financial section. The economic report is based
on the amount of taxes earned during a month, while the financial report indicates when the City received the tax.

Unemployment Rates
Unadjusted Rate Comparison ‐ Figure IX Figure IX shows unemployment rates for the
US, the State of Texas, the Dallas-Forth
Worth- Arlington Metropolitan Division, and
6%
the City of Plano from March 2022 to March
2023.

*Rates are not seasonally adjusted and are

provided by the Labor Market & Career
4% Information (LMCI) Department of the Texas
Workforce Commission.

2%

0%

US Texas Dallas-Ft Worth-Arlington Metro Div. Plano

City of Plano * Comprehensive Monthly Financial Report * March 2023 B-5 

 ECONOMIC ANALYSIS
MARCH 2023
 

Median Home Sale Price By City Figure X shows the median home
Figure X selling price and percentage change
for the City of Plano and four area
cities. The median sales price in
$750,000 0% Plano has decreased $40,000 from
$540,000 in March 2022 compared
$700,000 -2%
to $500,000 in March 2023.
$650,000 -4%
Median Sales Price

Please note that the median sales

$600,000 -6%
price can change significantly from
$550,000 -8% month to month due to the location
of the properties sold.
$500,000 -10%
$450,000 -12%
$400,000 -1% -14%
$350,000 -6% -16%
-7% -7%
$300,000 -17% -18%
$250,000 -20%

Mar-22 Mar-23

Real Estate Recap

Figure XI represents the Figure XI
percentage of sales price to
asking price for single family
homes for the past year along 60
with days on the market. The
percentage of asking price
110% 50
Percentage of Asking Price

decreased from 110% in March

2022 to 100% in March 2023.
Days on the market increased 40
from 12 in March 2022 to 28 in
March 2023. 105%
30
Please note that the percentage
of asking price and number of 20
days on the market can change 100%
significantly from month to 10
month due to the location of the
properties sold.
95% 0

% of Asking Price Days on the Market

City of Plano * Comprehensive Monthly Financial Report * March 2023 B-6 

 ECONOMIC ANALYSIS
MARCH 2023
 
Figure XII shows the price per
Price per Square Foot by City square foot for the month of
Figure XII March in 2021, 2022, and 2023
for the City of Plano and 4 area
$270
cities. The price per square foot
in Plano decreased 1% in March
$245 2023 when compared to March
245 2022.
238
$220 227 230 Please note that the price per
221 219 221
215 215 square foot can change
significantly from month to month
$195
198 due to the location of the
properties sold.
$170 179 177 179
169 168

$145

$120
Frisco Plano Allen McKinney Richardson
Mar-21 Mar-22 Mar-23

Figure XIII shows the

average price per
square foot in the City of Plano
City of Plano over Price per Square Foot Trend - Figure XIII
the last 3 years.

$250

$230

$210

$190

$170

$150

$130
Mar-20 Sep-20 Mar-21 Sep-21 Mar-22 Sep-22 Mar-23

City of Plano * Comprehensive Monthly Financial Report * March 2023 B-7 

 SECTION C

INVESTMENT REPORT
City of Plano
Comprehensive Monthly Financial Report

Funds of the City of Plano are invested in accordance with Chapter 2256 of the “Public Funds
Investment Act.” The Act clearly defines allowable investment instruments for local governments.
The City of Plano Investment Policy incorporates the provisions of the Act and all investment
transactions are executed in compliance with the Act and the Policy.
 INVESTMENT REPORT
MARCH 2023 
 
 
The two-year Treasury yield curve rate, the portfolio's benchmark, decreased in the month of March
from 4.89% to 4.09%. Interest received during the month totaled $1,305,524 and represents interest
paid on maturing investments and coupon payments on investments. Interest allocation is based on
average balances within each fund during the month.

As of March 31, a total of $757,585,098 was invested in the Treasury Fund. Of this amount,
$79,847,650 was General Obligation Bond Funds, $4,490,375 was Water and Sewer Bond Funds,
$25,562,844 was Municipal Drainage Bond Funds and $648,684,229 was in the remaining funds.

Current Month Prior Fiscal Year

Metrics Actual Fiscal YTD Prior Fiscal YTD Total

Funds Invested1 $16,598,028 $21,598,028 $109,945,717 $254,925,649

Interest Received2 $1,305,524 $5,167,471 $4,944,366 $12,713,575

Weighted Average Maturity (in

days)3 479 754

Duration (in years)4 1.31 2.02

Average 2-Year Treasury Yield5 4.30% 0.15%

* See interest allocation footnote on Page C-3.
(1) Does not include funds in bank or investment pool accounts.
(2) Cash Basis. Amount does not include purchased interest.
(3) The length of time (expressed in days) until the average investment in the portfolio will mature. The Prior Fiscal YTD
column represents current month, prior year.
(4) Weighted average maturity (expressed in years) of all income streams on the portfolio. The Prior Fiscal YTD column represents
current month, prior year.
(5) Compares 2023 to 2022 for the current month.

Month-to-Month Comparison

Metrics January 2023 February 2023 Difference

Portfolio Holding Period Yield 2.57% 2.53% -0.04% (-4 Basis Points)

Average 2-Year Treasury Yield 4.56% 4.30% -0.26% (-26 Basis Points)

City of Plano * Comprehensive Monthly Financial Report * February 2023 C-1

 
 INVESTMENT REPORT
MARCH 2023 
Years to
Maturity* Book Value % Total Portfolio Maturity Schedule
Figure I
0-1 368,006,655 47%
4-5 0%
1-2 139,835,641 18%

Years to Maturity
2-3 177,536,810 23% 3-4 12%

3-4 91,835,534 12%

2-3 23%
4-5 0 0%
1-2 18%
Total 777,214,640 100%
0-1 47%

  0% 10% 20% 30% 40% 50%

*Does not take into consideration callable issues that
can, if called, significantly shorten the Weighted Average   % of Total Portfolio
Maturity.

Allocation
Portfolio Diversiviation Type Book Value %
Allocation % - Figure II
Bank
8,723,849 1%
Accounts

Investment
165,768,271 21%
Pools

CDs/Fixed
Term 36,157,957 5%
42%, 1%, Bank Products
Municipal 21%,
Accounts
Bonds Investment
Pools AID 13,186,495 2%

5%, CDs/Fixed FAMC 57,020,592 7%

Term Products
FFCB 0 0%

2%, AID FHLB 34,026,671 4%

FHLMC 32,123,115 4%
7%, FAMC
FNMA 75,470,355 10%

4%, 4%, FHLB

TVA 3,168,404 0%
Treasury
Notes 4%, FHLMC
0%, TVA 10%, FNMA Treasury
29,692,661 4%
Notes

Municipal
321,876,270 42%
Bonds

Total 777,214,640 100%

City of Plano * Comprehensive Monthly Financial Report * February 2023 C-2

 
 INVESTMENT REPORT
MARCH 2023 

Allocated Interest/Fund Balance

Figure III
Beginning Fund Allocated Interest Ending Fund % of

Fund Balance 3/31/23 Current Month Balance 3/31/23 Total

General 147,139,220 1,290,134 148,429,354 19.59%

G. O. Debt Service 61,354,014 531,108 61,885,122 8.17%

9-1-1 Fees 20,188,005 190,226 20,378,231 2.69%

Park Improvements 11,854,270 111,477 11,965,747 1.58%

Street & Drainage Improvements 46,971,102 441,699 47,412,801 6.26%

Sewer CIP 22,555,461 206,521 22,761,982 3.01%

Capital Maintenance 69,876,368 660,999 70,537,367 9.31%

Water CIP 17,557,201 164,325 17,721,526 2.34%

Water & Sewer Operating 32,633,686 7,975 32,641,661 4.31%

Information Services 7,843,780 65,308 7,909,088 1.05%

Equipment Replacement 39,130,533 367,268 39,497,801 5.21%

Health Claims 10,065,326 93,508 10,158,834 1.34%

Traffic Safety 6,187,505 58,080 6,245,585 0.83%

G. O. Bond Funds 79,125,274 722,376 79,847,650 10.54%

Water & Sewer Bond Funds 4,448,541 41,834 4,490,375 0.59%

Municipal Drainage Bond Funds 25,326,736 236,108 25,562,844 3.37%

Econ. Dev. Incentive Fund 73,802,875 697,236 74,500,111 9.83%

Other 74,651,071 987,948 75,639,019 9.98%

Total 750,710,968 6,874,130 757,585,098 100.00%

Footnote: All City funds not restricted or held in trust are included in the Treasury Pool. As of December 31, 2022 allocated interest to
these funds may include an adjustment to fair value as required by GASB 31.

City of Plano * Comprehensive Monthly Financial Report * February 2023 C-3

 
 INVESTMENT REPORT
MARCH 2023 

PORTFOLIO STATISTICS
Figure IV
Weighted
Average
Portfolio Book Portfolio Matured/ Maturity Total
Month Value Yield Called* (Days) Investments
March 2022 $731,604,646 1.34% 2 643 97

April 2022 $700,354,446 1.47% 3 674 98

May 2022 $686,829,737 1.50% 3 689 95

June 2022 $764,802,114 1.70% 4 672 111

July 2022 $749,781,161 1.78% 3 667 109

August 2022 $746,693,713 1.89% 6 644 104

September 2022 $687,241,775 1.91% 1 673 103

October 2022 $663,558,699 1.96% 2 672 103

November 2022 $659,697,945 2.00% 0 649 103

December 2022 $691,680,020 2.12% 0 591 103

January 2023 $748,623,669 2.33% 0 523 103

February 2023 $813,955,314 2.57% 3 461 100

March 2023 $777,214,640 2.53% 4 472 106

*Does not include changes in bank or investment pool account balances.

City of Plano * Comprehensive Monthly Financial Report * February 2023 C-4

 
 INVESTMENT REPORT
MARCH 2023 

Equity in Treasury Pool Figure V shows a breakdown

By Major Category - Figure V of the various sources of
Component Units , funds for the City’s Treasury
2% Fiduciary Funds, Pool as of March 31, 2023.
Internal Service 0%
Funds, 10%
The largest category is the
General Funds,
18% Capital Projects Funds in the
amount of $227,817,635.
Special Revenue
Funds, 18% Debt Service Closest behind are the
Funds, 7% General Funds with a total of
$139,860,712, and the
Special Revenue Funds with
a total of $135,241,437.

Enterprise Funds, Capital Projects,

15% 30%

The annualized average Annualized Average Portfolio

portfolio for March 31, FIGURE VI
$825,000,000
2023 was $724,202,769.
This is an increase of
$46,126,769 when $775,000,000
compared to the March
2023 average of $725,000,000
$678,076,000.
$675,000,000

  $625,000,000

$575,000,000

$525,000,000
MAR-20 SEP-20 MAR-21 SEP-21 MAR-22 SEP-22 MAR-23

City of Plano * Comprehensive Monthly Financial Report * February 2023 C-5