Agenda Packet 04/11/2023 SupplementalTown of Trophy Club
Meeting Agenda Packet
Town Council
1 Trophy Wood Drive
Trophy Club, Texas
76262
April 11, 2023 7:00 PM Council Chambers
CALL TO ORDER AND ANNOUNCE A QUORUM Mayor Fleury
INVOCATION led by Pastor Joel Quile, Bara Church
PLEDGES led by Council Member Monger
Pledge of Allegiance to the American Flag.
Pledge of Allegiance to the Texas Flag.
PUBLIC COMMENT(S)
This is an opportunity for citizens to address the Council on any matter. The Council
is not permitted to discuss or take action on any presentations made. Presentations
are limited to matters over which the Council has authority. Speakers have up to four
(4) minutes or the time limit determined by the Presiding Officer. Each speaker must
have submitted their request to speak by completing the Speaker’s Form or may
email mayorandcouncil@trophyclub.org
ANNOUNCEMENTS AND REPORTS
CONSENT AGENDA
1.Item No. 8 Resolution 202302 was not included in original agenda packet.
2.Item #7 – Corrected Investment Report
INDIVIDUAL ITEMS
EXECUTIVE SESSION
RECONVENE INTO REGULAR SESSION
ADJOURN
One or more members of the Town Council may participate remotely using video
conferencing pursuant to Chapter 551 of the Texas Government Code.
One or more members of the Town Council may participate remotely using video conference
pursuant to Chapter 551 of the Texas Government Code.
The Town Council may convene into executive session to discuss posted items as allowed by
the Texas Open Meeting Act, LGC.551.071
CERTIFICATION
I certify that the above notice was posted on the bulletin board at Trophy Club Town Hall, 1
Trophy Wood Drive, Trophy Club, Texas, on INSERT DATE by 5:00 p.m. in accordance with
Chapter 551, Texas Government Code.
__________________________________
Anita Otterson
Town Secretary
If you plan to attend this public meeting and have a disability that requires special needs,
please contact the Town Secretary’s Office at 6822372900, 48 hours in advance, and
reasonable accommodations will be made to assist you.
1
Town of Trophy ClubMeeting Agenda PacketTown Council 1 Trophy Wood DriveTrophy Club, Texas76262April 11, 2023 7:00 PM Council ChambersCALL TO ORDER AND ANNOUNCE A QUORUM Mayor FleuryINVOCATION led by Pastor Joel Quile, Bara Church PLEDGES led by Council Member MongerPledge of Allegiance to the American Flag.Pledge of Allegiance to the Texas Flag.PUBLIC COMMENT(S)This is an opportunity for citizens to address the Council on any matter. The Councilis not permitted to discuss or take action on any presentations made. Presentationsare limited to matters over which the Council has authority. Speakers have up to four(4) minutes or the time limit determined by the Presiding Officer. Each speaker musthave submitted their request to speak by completing the Speaker’s Form or mayemail mayorandcouncil@trophyclub.orgANNOUNCEMENTS AND REPORTSCONSENT AGENDA1.Item No. 8 Resolution 202302 was not included in original agenda packet.2.Item #7 – Corrected Investment Report
INDIVIDUAL ITEMS
EXECUTIVE SESSION
RECONVENE INTO REGULAR SESSION
ADJOURN
One or more members of the Town Council may participate remotely using video
conferencing pursuant to Chapter 551 of the Texas Government Code.
One or more members of the Town Council may participate remotely using video conference
pursuant to Chapter 551 of the Texas Government Code.
The Town Council may convene into executive session to discuss posted items as allowed by
the Texas Open Meeting Act, LGC.551.071
CERTIFICATION
I certify that the above notice was posted on the bulletin board at Trophy Club Town Hall, 1
Trophy Wood Drive, Trophy Club, Texas, on INSERT DATE by 5:00 p.m. in accordance with
Chapter 551, Texas Government Code.
__________________________________
Anita Otterson
Town Secretary
If you plan to attend this public meeting and have a disability that requires special needs,
please contact the Town Secretary’s Office at 6822372900, 48 hours in advance, and
reasonable accommodations will be made to assist you.
2
TOWN OF TROPHY CLUB, TEXAS
RESOLUTION NO. 2023-02
A RESOLUTION OF THE TOWN COUNCIL OF THE TOWN OF TROPHY
CLUB, TEXAS APPROVAL OF HAZARD MITIGATION ACTION PLAN
FOR THE TOWN OF TROPHY CLUB, TEXAS AND TO AUTHORIZE THE
MAYOR OR HIS DESIGNEE TO TRANSMIT THIS RESOLUTION TO THE
FEDERAL EMERGENCY MANAGEMENT AGENCY.
WHEREAS, natural hazards in the Town of Trophy Club area historically
have significant disasters with losses of life and property and natural resources
damage; and
WHEREAS, the Federal Disaster Mitigation Act of 2000 and Federal
Emergency Management Agency (FEMA) require communities to adopt a hazard
mitigation action plan to be eligible for the full range of pre-disaster and post-
disaster federal funding for mitigation purposes; and
WHEREAS, FEMA requires that communities update hazard mitigation
action plans every five years in order to be eligible for the full range of pre-disaster
and post-disaster federal funding for mitigation purposes; and
WHEREAS, the Town of Trophy Club has assessed the community’s
potential risks and hazards and is committed to planning for a sustainable co
munity and reducing the long-term consequences of natural and man-caused
hazards; and
WHEREAS, the Denton County Hazard Mitigation Plan outlines a mitigation
vision, goals, and objectives; assesses risk from a range of hazards; and identifies
risk reduction strategies and actions for hazards that threaten the community; and
WHEREAS, the Federal Emergency Management Agency (“FEMA”) has
mandated that all towns have a FEMA-approved Hazard Mitigation Action Plan
(“HMAP”), which HMAP is intended to identify natural hazards to which a town has
been, or may be, exposed and to develop mitigation actions to counter the impacts
of such hazards;
NOW THEREFORE BE IT RESOLVED BY THE TOWN COUNCIL OF THE
TOWN OF TROPHY CLUB, TEXAS:
Section 1. The Denton County Hazard Mitigation Plan is approved in its entirety;
Section 2. The Town of Trophy Club will pursue available funding opportunities for
implementation of the proposals designated therein, and will upon receipt of such
funding or other necessary resource, seek to implement the actions contained in
the mitigation strategies;
3
RES 2015-35 Page 2 of 2
Section 3. The Town of Trophy Club vests with the Mayor the responsibility,
authority, and means to inform all parties of this action; assure that the Hazard
Mitigation Plan will be reviewed at least annually; and that any needed adjustments
will be presented to the Town Council for consideration; and
Section 4. The Town of Trophy Club to take such other action as may be
reasonably necessary to carry out the objectives of the Plan and report on progress
as required by FEMA and the Texas Division of Emergency Management (TDEM).
PASSED AND APPROVED by the Town Council of the Town of Trophy Club,
Texas, this the 11th of April, 2023.
Alicia L. Fleury, Mayor
Town of Trophy Club, Texas
ATTEST: [SEAL]
Anita Otterson, Town Secretary
Town of Trophy Club, Texas
APPROVED TO AS FORM:
David Dodd, Town Attorney
Town of Trophy Club, Texas
4
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
December 31, 2022
Prepared by
Valley View Consulting, L.L.C.
The inv
Investm
Trophy Club is in compliance with the Public Funds Investment Act and the
ance
C
Disclaimer: These reports were compiled using information provided by the Town. 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.5
Strategy Summary
Quarter End Results by Investment Category:
September 30, 2022 December 31, 2022
Asset Type
Demand Accounts
Money Markets/Local Gov't Investment Pools
Totals
Ave. Yield Book Value Market Value Ave. Yield Book Value Market Value
0.19%
2.92%
2.38%
$4,492,738
17,959,215
22,451,953
$4,492,738
17,959,215
22,451,953
1.09%
4.24%
3.92%
$2,600,407
23,372,007
25,972,414
$2,600,407
23,372,007
25,972,414$$$$
Current Quarter Average Yield (1)Fiscal Year-to-Date Average Yield (2)
Total Portfolio 3.92%Total Portfolio 3.92%
Rolling Three Month Treasury
Rolling Six Month Treasury
TexPool
4.19%
3.90%
3.98%
Rolling Three Month Treasury
Rolling Six Month Treasury
TexPool
4.19%
3.90%
3.98%
Interest Revenue (Approximate)
Quarterly Interest Income $
Year-to-date Interest Income $
175,213
175,213
(1) Current Quarter 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 Yields - calculated using quarter end report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees.
1Town of Trophy Club Valley View Consulting, L.L.C.
6
Economic Overview 12/31/2022
The Federal Open Market Committee (FOMC) raised the Fed Funds target range 0.50% to 4.25% - 4.50% December 14th (Effective Fed Funds are trading +/-4.33%). A 0.25% increase is
projected February 1st. Third Quarter GDP jumped to 3.2% in the final number. December Non-Farm Payroll added 223k new jobs with the Three Month Average declining to 247k. Crude oil
continues moderating at +/-$75 per barrel. The Stock Markets drifted between +/-15% to +/-19% below the 2021 peak. The yield curve is fully negatively sloped (3 months to 10 years, with peak
yield at 6 months) and continues to indicate lower future interest rates. Inflation remained well over the FOMC 2% target (Core PCE +/-5% and CPI +/-6%). International challenges add to economic
uncertainty.
Treasury Yield Curves S&P 5006.00
5.00
4.00
3.00
2.00
1.00
0.00
5,250
5,000
4,750
4,500
4,250
4,000
3,750
3,500
3,250
3,000
2,750
2,5002,250
2,0001,7501,5001,250
1,000750500
250
0
December 31, 2021 September 30, 2022 December 31, 2022
US Treasury Historical Yields - Since 2006 US Treasury Historical Yields - Since Nov 20156.00
5.50
5.00
4.50
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
5.50
5.00
4.50
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
Six Month T-Bill Two Year T-Note Ten Year T-Note Six Month T-Bill Two Year T-Note Ten Year T-Note
2Valley View Consulting, L.L.C.
7
Investment Holdings
December 31, 2022
Coupon/ Maturity Settlement Book
Value
Market
Price
1.00
1.00
1.00
1.00
1.00
1.00
1.00
Market
Value
Life
(days) YieldDescriptionRatings Discount
0.74%
Date Date Par Value
1,525,246
1,002,229
72,931
Wells Fargo - Cash (3)
PlainsCapital Bank - Cash
PlainsCapital Bank ICS Sweep
InterBank Money Market Account
InterBank IntraFi MMA
TexPool LGIP
01/01/23 12/31/22
01/01/23 12/31/22
01/01/23 12/31/22
01/01/23 12/31/22
01/01/23 12/31/22
01/01/23 12/31/22
01/01/23 12/31/22
$$1,525,246
1,002,229
72,931
249,904
11,968,148
8,619,763
2,534,192
$1,525,246
1,002,229
72,931
249,904
11,968,148
8,619,763
2,534,192
1
1
1
1
1
1
1
0.74%
1.41%
3.90%
4.36%
4.50%
3.98%
3.85%
1.41%
3.90%
4.36%
4.50%
249,904
11,968,148
8,619,763
2,534,192
AAAm
AAAm
3.98%
3.85%TexasCLASS LGIP-Gov't
$ 25,972,414 $ 25,972,414 $ 25,972,414 1 3.92%
(1)(2)
(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) Effective Blended Rate - Stated Earnings Credit Rate (0.70%) and GAIC Interest Rate (0.40%) adjusted for Balance Assessment fee and then calculated as a Weighted Average Yield.
Valley View Consulting, L.L.C.Town of Trophy Club 3
8
Distribution by Maturity (Millions)Portfolio Composition
MMA/MMF/LGIP
90%$30
$25
$20
$15
$10
$5
$0
Demand
Accounts
10%
Total Portfolio Performance Total Portfolio (Millions)
4.50 $30
4.00
3.50
3.00
2.50
2.00
1.50
1.00
0.50
0.00
$25
$20
$15
$10
$5
$0
TexPool Weighted Average Yield
Rolling 6 Month T-Bill Quarter End Book Value
4Town of Trophy Club Valley View Consulting, L.L.C.
9
Book & Market Value Comparison
Maturity Book Value
Date 09/30/22
0.74% 01/01/23 $ 4,492,738
Book Value Market Value Change in Market Value
12/31/22 09/30/22 Market Value 12/31/22
$ (2,967,492) $ 1,525,246 $ 4,492,738 $ (2,967,492) $ 1,525,246
Issuer/Description Yield Increases Decreases
Wells Fargo - Cash (3)
PlainsCapital Bank - Cash
PlainsCapital Bank ICS Sweep
InterBank Money Market Account
InterBank IntraFi MMA
$–
1,002,229
72,931
1.41% 01/01/23
3.90% 01/01/23
4.36% 01/01/23
4.50% 01/01/23
3.98% 01/01/23
3.85% 01/01/23
–
–
–
–
–
–
–
–
1,002,229
72,931
–
–
1,002,229
72,931
1,002,229
72,931
249,558
11,852,950
3,343,517
2,513,191
346 249,904 249,558
11,852,950
3,343,517
2,513,191
346 249,904
115,198
5,276,246
21,002
11,968,148
8,619,763
2,534,192
115,198
5,276,246
21,002
11,968,148
8,619,763
2,534,192
TexPool LGIP
TexasCLASS LGIP-Gov't
TOTAL / AVERAGE 3.92%$ 22,451,953 $ 6,487,953 $ (2,967,492) $ 25,972,414 $ 22,451,953 $ 3,520,461 $ 25,972,414
5Town of Trophy Club Valley View Consulting, L.L.C.
10
Allocation
December 31, 2022
Book & Market Value
American Storm
Drainage
Utility
Hotel
Occupancy
Tax
Total General Fund Rescue Plan Debt Service
Act
EDC
Wells Fargo - Cash $ 1,525,246
1,002,229
72,931
$(42,380) $ 1,362,961 $–$–$–
–
–
–
–
$204,666
PlainsCapital Bank - Cash
PlainsCapital Bank Sweep
InterBank Money Market
InterBank IntraFi MMA
TexPool LGIP
1,002,229
72,931
–
–
–
–
–
–
–––
–––
249,904 124,952
6,565,243
5,006,415
–
–––
11,968,148
8,619,763
2,534,192
–
1,450,986
–
–
1,289,812
–
–
–872,550
–TexasCLASS LGIP-Gov't 2,125,087
Total $ 25,972,414 $ 12,729,390 $ 1,362,961 $ 1,450,986 $ 1,289,812 $872,550 $ 2,329,753
6Town of Trophy Club Valley View Consulting, L.L.C.
11
Allocation
December 31, 2022
Book & Market Value Continued
Parkland 2017 CO 2021 CO CIP FundsDedication Bond Funds Bond Funds
Wells Fargo - Cash $–$–$–$–
PlainsCapital Bank - Cash
PlainsCapital Bank Sweep
InterBank Money Market
InterBank IntraFi MMA
TexPool LGIP
––––
––
124,952
603,505
–
––
–––
–
–
3,986,383 813,019
–
–
–
–TexasCLASS LGIP-Gov't 409,105 –
Total $409,105 $728,457 $ 3,986,383 $813,019
7Town of Trophy Club Valley View Consulting, L.L.C.
12
Allocation
September 30, 2022
Book & Market Value
American
Rescue Plan Debt Service
Act
Storm
Drainage
Utility
Hotel
Occupancy
Tax
General
Fund
Parkland
DedicationTotalEDC
Wells Fargo - Cash
InterBank Money Market
InterBank IntraFi MMA
TexPool LGIP
$ 4,492,738 $ 1,549,681 $ 2,905,552 $–$–$–
–
–
$37,506 $–
249,558
11,852,950
3,343,517
2,513,191
124,779
6,502,149
1,092,855
–
–
–
–
–
––––
–
107,302
–
–
1,278,477
–
–
–
–
–864,883
–TexasCLASS LGIP-Gov't 2,107,476 405,715
Total $ 22,451,953 $ 9,269,463 $ 2,905,552 $107,302 $ 1,278,477 $864,883 $ 2,144,981 $405,715
8Town of Trophy Club Valley View Consulting, L.L.C.
13
Allocation
September 30, 2022
Book & Market Value Continued
2017 CO
Bond
2021 CO
Bond CIP Funds
Funds Funds
Wells Fargo - Cash
InterBank Money Market
InterBank IntraFi MMA
TexPool LGIP
$–
124,779
847,545
–
$–$–
–
4,052,930 450,326
–
–
–
–TexasCLASS LGIP-Gov't –
Total $972,324 $ 4,052,930 $450,326
9Town of Trophy Club Valley View Consulting, L.L.C.
14