R-2019-0323 - 8/8/2019 RESOLUTION NO. R-2019-0323
WHEREAS, the City of Round Rock desires to retain professional consulting services related
to a Tourism Impact Study; and
WHEREAS, Destination Analysts has submitted an Agreement for Professional Consulting
Services to provide said services, and
WHEREAS, the City Council desires to enter into said agreement with Destination Analysts,
Now Therefore
BE IT RESOLVED BY THE COUNCIL OF THE CITY OF ROUND ROCK,TEXAS,
That the Mayor is hereby authorized and directed to execute on behalf of the City an
Agreement for Professional Consulting Services Related to a Tourism Impact Study with Destination
Analysts, a copy of same being attached hereto as Exhibit "A" and incorporated herein for all
purposes.
The City Council hereby finds and declares that written notice of the date, hour, place and
subject of the meeting at which this Resolution was adopted was posted and that such meeting was
open to the public as required by law at all times during which this Resolution and the subject matter
hereof were discussed, considered and formally acted upon, all as required by the Open Meetings Act,
Chapter 551, Texas Government Code, as amended.
RESOLVED this 8th day of August, 2019.
d AZI
CRAIG M GAN, ayor
City of R d Ro , Texas
ATTEST:
SARA L. WHITE, City Clerk
0112.1902;00428647
EXHIBIT
"A„
CITY OF ROUND ROCK AGREEMENT FOR
PROFESSIONAL CONSULTING SERVICES RELATED TO
A TOURISM IMPACT STUDY
WITH
DESTINATION ANALYSTS
THE STATE OF TEXAS §
THE CITY OF ROUND ROCK § KNOW ALL BY THESE PRESENTS
COUNTY OF WILLIAMSON §
COUNTY OF TRAVIS §
THIS AGREEMENT for professional consulting services related to a Tourism Impact
Study for the City of Round Rock (the "Agreement'), is made by and between the CITY OF
ROUND ROCK, a Texas home-rule municipal corporation with offices located at 221 East Main
Street, Round Rock, Texas 78664-5299 (the "City"), and DESTINATION ANALYSTS, located
at 1728 Union Street, Suite 310, San Francisco, California 94123 (the "Consultant").
RECITALS:
WHEREAS, a Tourism Impact Study for certain sporting events held at the City's sports
facilities is desired by the City(the"Project"); and
WHEREAS,City has determined that there is a need for the delineated services; and
WHEREAS, City desires to contract with Consultant to conduct a Tourism Impact
Study; and
WHEREAS, the parties desire to enter into this Agreement to set forth in writing their
respective rights, duties and obligations hereunder.
NOW, THEREFORE, WITNESSETH:
That for and in consideration of the mutual promises contained herein and other good and
valuable consideration, the sufficiency and receipt of which are hereby acknowledged, it is
mutually agreed between the parties as follows:
1.0 EFFECTIVE DATE, DURATION,AND TERM
A. This Agreement shall be effective on the date this Agreement has been signed by
each party hereto, and shall remain in full force and effect unless and until it expires by operation
of the term indicated herein, or is terminated as provided herein.
B. The term of this Agreement shall be for twenty-four(24) months from the date of
execution.
00427482tss2
C. City and the Consultant reserve the right to review the Agreement at any time,
and may elect to terminate the Agreement with or without cause or may elect to continue.
2.0 SCOPE OF SERVICES
Consultant has issued its proposal for services, such proposal for services being attached
to this Agreement as Exhibit "A" titled "Scope of Services," which shall be referred to as the
Scope of Services of this Agreement and incorporated herein by reference for all purposes.
Consultant shall satisfactorily provide all services described herein and as set forth in
Exhibit "A." Consultant shall perform services in accordance with this Agreement, in
accordance with the appended Scope of Services and in accordance with due care and prevailing
consulting industry standards for comparable services.
3.0 LIMITATION TO SCOPE, OF SERVICES
Consultant's undertaking shall be limited to performing services for City and/or advising
City concerning those matters on which Consultant has been specifically engaged. Consultant
and City agree that the Scope of Services to be performed is enumerated in Exhibit "A"and may
only be modified by a written Supplemental Agreement executed by both parties as described in
Section 9.0.
4.0 CONTRACT AMOUNT
In consideration for the professional consulting services to be performed by Consultant,
City agrees to pay Consultant an amount not-to-exceed One Hundred Fifty Thousand and
No/100 Dollars ($150,000.00).
5.0 INVOICE REQUIREMENTS; TERMS OF PAYMENT
Invoices: To receive payment, Consultant shall prepare and submit detailed invoices to
the City, in accordance with the delineation contained herein, for services rendered. Such
invoices for professional services shall track the referenced Scope of Work, and shall detail the
services performed, along with documentation for each service performed. Payment to
Consultant shall be made on the basis of the invoices submitted by Consultant and approved by
the City. Such invoices shall conform to the schedule of services and costs in connection
therewith.
Should additional backup material be requested by the City relative to service
deliverables, Consultant shall comply promptly. In this regard, should the City determine it
necessary, Consultant shall make all records and books relating to this Agreement available to
the City for inspection and auditing purposes.
Payment of Invoices: The City reserves the right to correct any error that may be
discovered in any invoice that may have been paid to Consultant and to adjust same to meet the
requirements of this Agreement. Following approval of an invoice, the City shall endeavor to pay
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Consultant promptly, but no later than the time period required under the"Texas Prompt Payment
Act described in Section 8.01 herein. Under no circumstances shall Consultant be entitled to
receive interest on payments which are late because of a good faith dispute between Consultant
and the City or because of amounts which the City has a right to withhold under this Agreement
or state law. The City shall be responsible for any sales, gross receipts or similar taxes
applicable to the services, but not for taxes based upon Consultant's net income.
6.0 INSURANCE
Consultant shall meet all City of Round Rock Insurance Requirements set forth at:
https:;'/www.roundrocktexas.gov/wp-content/uploads/2014/12/corr insurance 07.20112.pdf
7.0 PROMPT PAYMENT POLICY
In accordance with Chapter 2251, V.T.C.A., Texas Government Code, any payment to be
made by the City to Consultant will be made within thirty (30) days of the date the performance
of the services under this Agreement are completed, or the date the City receives a correct
invoice for the services, whichever is later. Consultant may charge interest on an overdue
payment at the "rate in effect" on September 1 of the fiscal year in which the payment becomes
overdue, in accordance with V.T.C.A., Texas Government Code, Section 2251.025(b). This
Prompt Payment Policy does not apply to payments made by the City in the event:
(a) There is a bona fide dispute between the City and Consultant, a contractor,
subcontractor, or supplier about the service performed that cause the payment
to be late; or
(b) There is a bona fide dispute between Consultant and a subcontractor or
between a subcontractor and its supplier about the service performed that
causes the payment to be late; or
(c) The terms of a federal contract, grant, regulation, or statute prevent the City
from making a timely payment with federal funds; or
(d) The invoice is not mailed to the City in strict accordance with any instruction
on the purchase order relating to the payment.
8.0 NON-APPROPRIATION AND FISCAL FUNDING
This Agreement is a commitment of the City's current revenues only. It is understood and
agreed that the City shall have the right to terminate this Agreement at the end of any City fiscal
year if the governing body of the City does not appropriate funds sufficient to purchase the
services as determined by the City's budget for the fiscal year in question. The City may affect
such termination by giving Consultant a written notice of termination at the end of its then-
current fiscal year.
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9.0 SUPPLEMENTAL AGREEMENT
The terms of this Agreement may be modified by written Supplemental Agreement
hereto, duly authorized by City Council or by the City Manager, if the City determines that there
has been a significant change in (1) the scope, complexity, or character of the services to be
performed; or (2) the duration of the work. Any such Supplemental Agreement must be
executed by both parties within the period specified as the term of this Agreement. Consultant
shall not perform any work or incur any additional costs prior to the execution, by both parties,
of such Supplemental Agreement. Consultant shall make no claim for extra work done or
materials furnished unless and until there is full execution of any Supplemental Agreement, and
the City shall not be responsible for actions by Consultant nor for any costs incurred by
Consultant relating to additional work not directly authorized by Supplemental Agreement.
10.0 TERMINATION; DEFAULT
Termination: It is agreed and understood by Consultant that the City or Consultant may
terminate this Agreement for the convenience of the City or Consultant, upon thirty (30) days'
written notice to Consultant or City, with the understanding that immediately upon receipt of
said notice all work being performed under this Agreement shall cease. Consultant shall invoice
the City for work satisfactorily completed and shall be compensated in accordance with the terms
hereof for work accomplished prior to the receipt of said notice of termination. Consultant shall
not be entitled to any lost or anticipated profits for work terminated under this Agreement.
Unless otherwise specified in this Agreement, all data, information, and work product related to
this Project shall become the property of the City upon termination of this Agreement, and shall
be promptly delivered to the City in a reasonably organized form without restriction on future
use. Should the City subsequently contract with a new consultant for continuation of service on
the Project, Consultant shall cooperate in providing information.
Termination of this Agreement shall extinguish all rights, duties, and obligations of the
terminating party and the terminated party to fulfill contractual obligations. Termination under
this section shall not relieve the terminated party of any obligations or liabilities which occurred
prior to termination.
Nothing contained in this section shall require the City to pay for any work which it
deems unsatisfactory or which is not performed in compliance with the terms of this Agreement.
Default: Either party may terminate this Agreement, in whole or in part, for default if
the Party provides the other Party with written notice of such default and the other fails to
satisfactorily cure such default within ten (10) business days of receipt of such notice (or a
greater time if agreed upon between the Parties).
If default results in termination of this Agreement, then the City shall give consideration
to the actual costs incurred by Consultant in performing the work to the date of default. The cost
of the work that is useable to the City, the cost to the City of employing another firm to complete
the useable work, and other factors will affect the value to the City of the work performed at the
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time of default. Neither party shall be entitled to any lost or anticipated profits for work
terminated for default hereunder.
The termination of this Agreement for default shall extinguish all rights, duties, and
obligations of the terminating Party and the terminated Party to fulfill contractual obligations.
Termination under this section shall not relieve the terminated party of any obligations or
liabilities which occurred prior to termination.
Nothing contained in this section shall require the City to pay for any work which it
deems unsatisfactory, or which is not performed in compliance with the terms of this Agreement.
11.0 NON-SOLICITATION
Except as may be otherwise agreed in writing, during the tens of this Agreement and for
twelve (12) months thereafter, neither the City nor Consultant shall offer employment to or shall
employ any person employed then or within the preceding twelve (12) months by the other or
any affiliate of the other if such person was involved, directly or indirectly, in the performance of
this Agreement. This provision shall not prohibit the hiring of any person who was solicited
solely through a newspaper advertisement or other general solicitation.
12.0 INDEPENDENT CONTRACTOR STATUS
Consultant is an independent contractor, and is not the City's employee. Consultant's
employees or subcontractors are not the City's employees. This Agreement does not create a
partnership, employer-employee, or joint venture relationship. No party has authority to enter
into contracts as agent for the other party. Consultant and the City agree to the following rights
consistent with an independent contractor relationship:
(1) Consultant has the right to perform services for others during the term hereof.
(2) Consultant has the sole right to control and direct the means, manner and method
by which it performs its services required by this Agreement.
(3) Consultant has the right to hire assistants as subcontractors, or to use employees
to provide the services required by this Agreement.
(4) Consultant or its employees or subcontractors shall perform services required
hereunder, and the City shall not hire, supervise, or pay assistants to help
Consultant.
(5) Neither Consultant nor its employees or subcontractors shall receive training from
the City in skills necessary to perform services required by this Agreement.
(6) City shall not require Consultant or its employees or subcontractors to devote full
time to performing the services required by this Agreement.
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(7) Neither Consultant nor its employees or subcontractors are eligible to participate
in any employee pension, health, vacation pay, sick pay, or other fringe benefit
plan of the City.
13.0 CONFIDENTIALITY; MATERIALS OWNERSHIP
Any and all programs, data,or other materials furnished by the City for use by Consultant
in connection with services to be performed under this Agreement, and any and all data and
information gathered by Consultant, shall be held in confidence by Consultant as set forth
hereunder. Each party agrees to take reasonable measures to preserve the confidentiality of any
proprietary or confidential information relative to this Agreement, and to not make any use
thereof other than for the performance of this Agreement, provided that no claim may be made
for any failure to protect information that occurs more than three (3) years after the end of this
Agreement.
The parties recognize and understand that the City is subject to the Texas Public
Information Act and its duties run in accordance therewith.
All data relating specifically to the City's business and any other information which
reasonably should be understood to be confidential to City is confidential information of City.
Consultant's proprietary software, tools, methodologies, techniques, ideas, discoveries,
inventions, know-how, and any other information which reasonably should be understood to be
confidential to Consultant is confidential information of Consultant. The City's confidential
information and Consultant's confidential information is collectively referred to as "Confidential
Information." Each party shall use Confidential Information of the other party only in
furtherance of the purposes of this Agreement and shall not disclose such Confidential
Information to any third party without the other party's prior written consent, which consent
shall not be unreasonably withheld. Each party agrees to take reasonable measures to protect the
confidentiality of the other party's Confidential Information and to advise their employees of the
confidential nature of the Confidential Information and of the prohibitions herein.
Notwithstanding anything to the contrary contained herein, neither party shall be
obligated to treat as confidential any information disclosed by the other party (the "Disclosing
Party") which: (1) is rightfully known to the recipient prior to its disclosure by the Disclosing
Party; (2) is released by the Disclosing Party to any other person or entity (including
governmental agencies) without restriction; (3) is independently developed by the recipient
without any reliance on Confidential Information; or (4) is or later becomes publicly available
without violation of this Agreement or may be lawfully obtained by a party from any non-party.
Notwithstanding the foregoing, either party will be entitled to disclose Confidential Information
of the other to a third party as may be required by law, statute, rule or regulation, including
subpoena or other similar form of process, provided that (without breaching any legal or
regulatory requirement) the party to whom the request is made provides the other with prompt
written notice and allows the other party to seek a restraining order or other appropriate relief.
Subject to Consultant's confidentiality obligations under this Agreement, nothing herein shall
preclude or limit Consultant from providing similar services for other clients.
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Notwithstanding the foregoing, either party will be entitled to disclose Confidential
Information of the other to a third party as may be required by law, statute, rule or regulation,
including subpoena or other similar form of process, provided that (without breaching any legal
or regulatory requirement)the party to whom the request is made provides the other with prompt
written notice and allows the other party to seek a restraining order or other appropriate relief.
Subject to Consultant's confidentiality obligations under this Agreement, nothing herein shall
preclude or limit Consultant from providing similar services for other clients.
Neither the City nor Consultant will be liable to the other for inadvertent or accidental
disclosure of Confidential Information if the disclosure occurs notwithstanding the party's
exercise of the same level of protection and care that such party customarily uses in safeguarding
its own proprietary and confidential information.
Notwithstanding anything to the contrary in this Agreement, the City will own as its sole
property all written materials created, developed, gathered, or originally prepared expressly for
the City and delivered to the City under the terms of this Agreement (the "Deliverables"); and
Consultant shall own any general skills, know-how, expertise, ideas, concepts, methods,
techniques, processes, software, or other similar information which may have been discovered,
created, developed or derived by Consultant either prior to or as a result of its provision of
services under this Agreement (other than Deliverables). Consultant shall have the right to retain
copies of the Deliverables and other items for its archives. Consultant's working papers and
Consultant's Confidential Information (as described herein) shall belong exclusively to the
Consultant. "Working papers" shall mean those documents prepared by Consultant during the
course of performing the Project including, without limitation, schedules, analyses,
transcriptions, memos, designed and developed data visualization dashboards and working notes
that serve as the basis for or to substantiate the Project. In addition, Consultant shall retain sole
and exclusive ownership of its know-how,concepts, techniques, methodologies, ideas,templates,
dashboards, code and tools discovered, created or developed by Consultant during the
performance of the Project that are of general application and that are not based on City's
Confidential Information hereunder (collectively, "Consultant's Building Blocks"). To the
extent any Deliverables incorporate Consultant's Building Blocks, Consultant gives City a non-
exclusive, non-transferable, royalty-free right to use such Building Blocks solely in connection
with the deliverables. Subject to the confidentiality restrictions mentioned above, Consultant
may use the deliverables and the Building Blocks for any purpose. Except to the extent required
by law or court order, City will not otherwise use, or sublicense or grant any other party any
rights to use, copy or otherwise exploit or create derivative works from Consultant's Building
Blocks.
City shall have a non-exclusive, non-transferable license to use Consultant's Confidential
Information for City's own internal use and only for the purposes for which they are delivered to
the extent that they form part of the Deliverables.
14.0 WARRANTIES
Consultant represents that all services performed hereunder shall be performed consistent
with generally prevailing professional or industrial standards, and shall be performed in a
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professional and workmanlike manner. Consultant shall re-perform any work not in compliance
with this representation.
15.0 LIMITATION OF LIABILITY
Should any of Consultant's services not conform to the requirements of the City or of this
Agreement, then and in that event the City shall give written notification to Consultant;
thereafter, (a) Consultant shall either promptly re-perform such services to the City's satisfaction
at no additional charge, or (b) if such deficient services cannot be cured within the cure period
set forth herein, then this Agreement may be terminated for default.
In no event will Consultant be liable for any loss, damage, cost or expense attributable to
negligence, willful misconduct or misrepresentations by the City, its directors, employees or
agents.
Neither party's liability, in contract, tort (including negligence) or any other legal or
equitable theory, (a) shall exceed the professional fees paid or due to Consultant pursuant to this
Agreement or (b) include any indirect, incidental, special, punitive or consequential damages,
even if such party has been advised of the possibility of such damages. Such excluded damages
include, without limitation, loss of data, loss of profits and loss of savings of revenue.
16.0 INDEMNIFICATION
Consultant shall save and hold harmless City and its officers and employees from all
claims and liabilities due to activities of his/her/itself and his/her/its agents or employees,
performed under this Agreement, which are caused by or which result from the negligent error,
omission, or negligent act of Consultant or of any person employed by Consultant or under
Consultant's direction or control.
Consultant shall also save and hold City harmless from any and all expenses, including
but not limited to reasonable attorneys' fees which may be incurred by City in litigation or
otherwise defending claims or liabilities which may be imposed on City as a result of such
negligent activities by Consultant, its agents, or employees.
17.0 ASSIGNMENT AND DELEGATION
The parties each hereby bind themselves, their successors, assigns and legal
representatives to each other with respect to the terms of this Agreement. Neither party may
assign any rights or delegate any duties under this Agreement without the other party's prior
written approval, which approval shall not be unreasonably withheld.
18.0 LOCAL, STATE AND FEDERAL TAXES
Consultant shall pay all income taxes, and FICA (Social Security and Medicare taxes)
incurred while performing services under this Agreement. The City will not do the following:
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(1) Withhold FICA from Consultant's payments or make FICA payments on its
behalf;
(2) Make state and/or federal unemployment compensation contributions on
Consultant's behalf; or
(3) Withhold state or federal income tax from any of Consultant's payments.
If requested, the City shall provide Consultant with a certificate from the Texas State
Comptroller indicating that the City is a non-profit corporation and not subject to State of Texas
Sales and Use Tax.
19.0 COMPLIANCE WITH LAWS,CHARTER AND ORDINANCES
A. Consultant, its consultants, agents, employees and subcontractors shall use best
efforts to comply with all applicable federal and state laws, the Charter and Ordinances of the
City of Round Rock, as amended, and with all applicable rules and regulations promulgated by
local, state and national boards, bureaus and agencies. Consultant shall further obtain all permits,
licenses, trademarks, or copyrights required in the performance of the services contracted for
herein, and same shall belong solely to the City at the expiration of the term of this Agreement.
B. In accordance with Chapter 2270,Texas Government Code, a governmental entity
may not enter into a contract with a company for goods and services unless the contract contains
written verification from the company that it: (1) does not boycott Israel; and (2) will not boycott
Israel during the term of a contract. The signatory executing this Agreement on behalf of
Consultant verifies Consultant does not boycott Israel and will not boycott Israel during the term
of this Agreement.
20.0 FINANCIAL INTEREST PROHIBITED
Consultant covenants and represents that Consultant, its officers, employees, agents,
consultants and subcontractors will have no financial interest, direct or indirect, in the purchase
or sale of any product, materials or equipment that will be recommended or required hereunder.
21.0 DESIGNATION OF REPRESENTATIVES
The City hereby designates the following representative authorized to act on its behalf
with regard to this Agreement:
Chad McKenzie
Director of Sports Management and Tourism
221 East Main Street
Round Rock,TX 78664
(512) 218-5488
cmckenzie(r�roundrocktexas.gov
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22.0 NOTICES
All notices and other communications in connection with this Agreement shall be in
writing and shall be considered given as follows:
(1) When delivered personally to recipient's address as stated herein; or
(2) Three (3) days after being deposited in the United States mail, with postage
prepaid to the recipient's address as stated in this Agreement.
Notice to Consultant:
Destination Analysts
1728 Union Street, Suite 310
San Francisco, CA 94123
Notice to City:
City Manager, City of Round Rock
221 East Main Street
Round Rock, TX 78664
AND TO:
Stephan L. Sheets, City Attorney
309 East Main Street
Round Rock, TX 78664
Nothing contained in this section shall be construed to restrict the transmission of routine
communications between representatives of the City and Consultant.
23.0 APPLICABLE LAW; ENFORCEMENT AND VENUE
This Agreement shall be enforceable in Round Rock, Texas, and if legal action is
necessary by either party with respect to the enforcement of any or all of the terms or conditions
herein, exclusive venue for same shall lie in Williamson County, Texas. This Agreement shall
be governed by and construed in accordance with the laws and court decisions of Texas.
24.0 EXCLUSIVE AGREEMENT
The terms and conditions of this Agreement, including exhibits, constitute the entire
agreement between the parties and supersede all previous communications, representations, and
agreements, either written or oral, with respect to the subject matter hereof. The parties
expressly agree that, in the event of any conflict between the terms of this Agreement and any
other writing, this Agreement shall prevail. No modifications of this Agreement will be binding
on any of the parties unless acknowledged in writing by the duly authorized governing body or
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representative for each party.
25.0 DISPUTE RESOLUTION
The City and Consultant hereby expressly agree that no claims or disputes between the
parties arising out of or relating to this Agreement or a breach thereof shall be decided by any
arbitration proceeding, including without limitation, any proceeding under the Federal
Arbitration Act(9 USC Section 1-14)or any applicable state arbitration statute.
26.0 SEVERABILITY
The invalidity, illegality, or unenforceability of any provision of this Agreement or the
occurrence of any event rendering any portion of provision of this Agreement void shall in no
way affect the validity or enforceability of any other portion or provision of this Agreement. Any
void provision shall be deemed severed from this Agreement, and the balance of this Agreement
shall be construed and enforced as if this Agreement did not contain the particular portion of
provision held to be void. The parties further agree to amend this Agreement to replace any
stricken provision with a valid provision that comes as close as possible to the intent of the
stricken provision. The provisions of this Article shall not prevent this entire Agreement from
being void should a provision which is of the essence of this Agreement be determined void.
27.0 STANDARD OF CARE
Consultant represents that it is specially trained, experienced and competent to perform
all of the services, responsibilities and duties specified herein and that such services,
responsibilities and duties shall be performed, whether by Consultant or designated
subconsultants, in a manner acceptable to the City and according to generally accepted business
practices.
28.0 GRATUITIES AND BRIBES
City, may by written notice to Consultant, cancel this Agreement without incurring any
liability to Consultant if it is determined by City that gratuities or bribes in the form of
entertainment, gifts, or otherwise were offered or given by Consultant or its agents or
representatives to any City Officer, employee or elected representative with respect to the
performance of this Agreement. In addition, Consultant may be subject to penalties stated in
Title 8 of the Texas Penal Code.
29.0 RIGHT TO ASSURANCE
Whenever either party to this Agreement, in good faith, has reason to question the other
party's intent to perform hereunder, then demand may be made to the other party for written
assurance of the intent to perform. In the event that no written assurance is given within the
reasonable time specified when demand is made, then and in that event the demanding party may
treat such failure an anticipatory repudiation of this Agreement.
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30.0 MISCELLANEOUS PROVISIONS
Time is of the Essence. Consultant agrees that time is of the essence and that any failure
of Consultant to complete the services for each Phase of this Agreement within the agreed
Project schedule may constitute a material breach of the Agreement.
Consultant shall be fully responsible for its delays or for failures to use reasonable efforts
in accordance with the terms of this Agreement. Where damage is caused to City due to
Consultant's failure to perform in these circumstances, City may withhold, to the extent of such
damage, Consultant's payments hereunder without a waiver of any of City's additional legal
rights or remedies. City shall render decisions pertaining to Consultant's work promptly to avoid
unreasonable delays in the orderly progress of Consultant's work.
Force Majeure. Notwithstanding any other provisions hereof to the contrary, no failure,
delay or default in performance of any obligation hereunder shall constitute an event of default
or breach of this Agreement, only to the extent that such failure to perform, delay or default
arises out of causes beyond control and without the fault or negligence of the party otherwise
chargeable with failure, delay or default; including but not limited to acts of God, acts of public
enemy, civil war, insurrection, riots, fires, floods, explosion, theft, earthquakes, natural disasters
or other casualties, strikes or other labor troubles, which in any way restrict the performance
under this Agreement by the parties.
Section Numbers. The section numbers and headings contained herein are provided for
convenience only and shall have no substantive effect on construction of this Agreement.
Waiver. No delay or omission by either party in exercising any right or power shall
impair such right or power or be construed to be a waiver. A waiver by either party of any of the
covenants to be performed by the other or any breach thereof shall not be construed to be a
waiver of any succeeding breach or of any other covenant. No waiver of discharge shall be valid
unless in writing and signed by an authorized representative of the party against whom such
waiver or discharge is sought to be enforced.
Multiple Counterparts. This Agreement may be executed in multiple counterparts,
which taken together shall be considered one original. The City agrees to provide Consultant
with one fully executed original.
[Signatures on the following page.]
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IN WITNESS WHEREOF, the parties have executed this Agreement on the dates
hereafter indicated.
City of Round Rock,Texas Destination Analysts
By: By: v
Printed Name: Prin d ame: Er- %7We yrQs
Title: Title:
Date Signed: Date Signed: 73LAI", 11,201 1,
For City,Attest:
By:
Sara L. White, City Clerk
For City,Approved as to Form:
By:
Stephan L. Sheets,City Attorney
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Exhibit "A"
Destination naLysts
DO YOUR RESEARCH
EXECUTIVE SUMMARY
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Exhibit "A"
EXECUTIVE SUMMARY
This research proposal outlines Destination Analysts' recommended methodology and overall approach
to conduct Tourism Impact Research on behalf of the City of Round Rock to study the city's visitors,
the economic impact associated with those visitors and measure the image, perception and awareness of
Round Rock, the Austin Metropolitan Area and the State of Texas. Destination Analysts proposes a
multi-faceted research approach consisting of both quantitative and qualitative methodologies.These
four components are outlined below:
• Visitor Intercept Survey–an in-person survey distributed to Round Rock visitors
throughout key locations of the city. This survey will target all visitors who live outside the area,
including hotel guests, home rental visitors, visiting friends and relatives (VFRs)who stay in
private residences, those staying in other lodging alternatives, and day-trip visitors.
• Survey of Meeting& Sports Planners–an online survey distributed to meeting planners
who hold events in Round Rock via email invitation. To help estimate the impact of the meetings
industry to City—including any event sponsor spending and partner spending—Destination
Analysts will collect data from meeting and sports planners who hold events in Round Rock.
• Survey of Leisure Travelers–an online survey distributed to Texas residents and out-of-
state residents via an online sample provider. This survey will provide the key insights for the
Image, Perception &Awareness Study.
• In-Depth Interviews with Meeting & Sports Planners–online video interviews
conducted with meetings and sports planners to support learning about Round Rock as a
meetings and sports destination.
Exhibit "A"
Destination 4" Analysts
DO YOUR RESEARCH
4
RESEARCH PROPOSAL
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TOURISM IMPACT STUDY: RFP NO. 19-018
Research proposal prepared for the City of Round Rock by Destination Analysts, Inc.
Exhibit "A"
Destination
Analysts
DO YOUR RESEARCH
April 5, 2019
Amanda Crowell
Purchasing Technician
Purchasing Division
City of Round Rock
Dear Amanda,
Thank you for the opportunity to present this proposal to assist the City of Round Rock in gaining powerful
insights into, and deepening its understanding of, those who visit Round Rock, the economic impact of tourism
to Round Rock and benchmarking destination awareness and perceptions of Round Rock as a leisure,
meetings and sports destination.
Destination Analysts' enthusiasm for this project is rooted in our expertise providing research that will
effectively profile a destination's visitor and manage and grow a destination's tourism brand—thereby
increasing the positive economic benefits of tourism to the greater community. Our perspective and extensive
experience working in the destination marketing industry places us in a unique position to provide significant
value to the City of Round Rock in facilitating this project and delivering these insights.
Presented following are our recommended research approach and methodologies, company qualifications,
estimated project timeline and cost proposal. Please let me know if you have any questions or need further
information about our submittal.
We appreciate your positive consideration of our response, and greatly look forward to the opportunity to
work with the City of Round Rock on this important endeavor.
Warm regards,
4A+
Erin Francis-Cummings
President&CEO
Destination Analysts,Inc.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 1
Exhibit "A"
CITY OF ROUND ROCK
TOURISM IMPACT STUDY RESEARCH PROPOSAL
TABLE OF CONTENTS
Tab I —Business Organization 3
Tab 2—System Concept and Solution 5
Tab 3—Program 15
Tab 4—Project Management Structure 21
Tab 5—Prior Experience 23
Tab 6—Personnel 28
Tab 7—Authorized Negotiator 33
Tab 8—Attachments and Addendum 35
Tab 9—Cost Proposal 37
Destination Analysts'Research Proposal in Response to RFP No. 19-018 2
Exhibit "A"
Destination <" , Analysts
DO YOUR RESEARCH
TAB I — BUSINESS ORGANIZATION
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-018 3
Exhibit "A"
BUSINESS ORGANIZATION
Destination Analysts has one corporate office located at 1728 Union Street, Suite 310 San Francisco, CA and
one satellite office in Seattle, WA.All proposed work for the City of Round Rock will be performed at
Destination Analysts corporate office in San Francisco, CA. Destination Analysts operates as a Corporation
within the state of California and was incorporated in 2003.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 4
Exhibit "A"
Destination Analysts
DO YOUR RESEARCH
TAB 2 — SYSTEM CONCEPT AND SOLUTION
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-018
Exhibit "A"
SYSTEM CONCEPT AND SOLUTION
This research proposal outlines Destination Analysts' recommended methodologies and overall approach to
conduct a Tourism Impact Study on behalf of the City of Round Rock.The key objectives of this study are to
develop a comprehensive understanding of current visitors to the City of Round Rock, determine the economic
impact those visitors have on the local community, as well as garnering insights about the Round Rock
destination brand, in order to ultimately generate incremental visitation to the city.
Destination Analysts understands and has designed a research plan to fulfill the requirements detailed within
Part IV—Scope of Work of RFP No. 19-018.
PROJECT OVERVIEW AND OBJECTIVES
As the City of Round Rock has an opportunity to continue growing tourism through effective marketing,
research can provide critical insights into the most efficient means of achieving this. Understanding the
destination, its visitors, and traveler sentiment about the destination is key to effective communication and, in
the end, moving the needle. Destination Analysts will thus design this research to:
• Develop visitor and demographic profiles of leisure visitors to Round Rock
• Evaluate what visitors seek from the Round Rock visitor experience
• Identify elements of the Round Rock visitor experience that are currently successful, as well as elements
that can be added and improved
• Provide detail on trip behaviors such as spending, travel party, length of stay and season of visit
• Evaluate the economic impact of tourism to the City of Round Rock
• Measure the City of Round Rock, Austin Metropolitan Area and the State of Texas as leisure travel
destinations in terms of awareness, overall image and perceptions
• Assess the travel planning process, including resources used and planning times for potential visitors
Destination Analysts'Research Proposal in Response to RFP No. 19-018 6
Exhibit "A"
FULFILLMENT OF RESEARCH OBJECTIVES
The following matrix shows the objectives that will be fulfilled by conducting each of the proposed research
components.
Survey of In-Depth
VisitorSurvey Intercept Meeting&Sports Survey of Interviews with
Leisure Travelers Meeting&Sports
Planners Planners
Visitor Profile Study X
Economic Impact �,r
Analysis X h
Image, Perception & v x
Awareness Study X
Additional V
Recommendations X X
RECOMMENDED APPROACH AND METHODOLOGY
Destination Analysts recommends a mixed quantitative and qualitative research methodology to gather the
necessary data for this multi-faceted study. The four recommended components of this overall research strategy
include:
• Visitor Intercept Survey
• Survey of Meeting&Sports Planners
• Survey of Leisure Travelers
• In-Depth Interviews with Meeting& Sports Planners
Each of these research components are described in detail following.
VISITOR PROFILE & ECONOMIC IMPACT STUDY: VISITOR INTERCEPT SURVEY
To benchmark the incidence of the types of visitors (e.g., hotel guests,VFRs, day-trippers) and their origins (e.g.,
in-state vs. out-of-state) and collect valuable feedback from visitors while they are in-market, Destination
Analysts recommends conducting a Visitor Intercept Survey at locations throughout Round Rock that will target
all visitors who live outside Round Rock, TX. Working closely with the City of Round Rock, Destination
Analysts will develop the survey questionnaire which will address topics such as:
• Visitor point of origin
• Visitor arrival and departure methods
Destination Analysts'Research Proposal in Response to RFP No. 19-018 7
Exhibit "A"
• Activities and attractions visited in-market
• Length of stay
• Detailed in-market spending
• Rate of first-time visitors to the destination
• Likelihood to return
• Inspiration/motivations for visiting Round Rock
• Visitor perceptions of the destination
• Satisfaction with the visitor experience
• Travel parry composition
• Visitor demographics
• Trip planning resources utilized
• Other topics of interest to the City of Round Rock or the RRCVB
As part of the visitor intercept survey efforts, Round Rock residents will be asked their incidence of hosting
visiting friends/relatives.This will allow Destination Analysts to estimate the proportion of VFRs to Round
Rock, which will ultimately be used in the visitor volume and economic impact analysis.
Destination Analysts will support the City of Round Rock in securing permission for Destination Analysts staff
to survey at partner attractions, hotels and any associated special events (or other areas deemed appropriate
to intercept visitors). Survey sites may include partners such as Dell Diamond, Round Rock Premium Outlets,
Round Rock Sports Center, Rock'n' River Aquatic Center, Austin Marriott North and/or Holiday Inn Austin
North.
Destination Analysts staff will fully manage a team of surveyors to conduct these in-person surveys of visitors.
The team of surveyors will be comprised of local residents within or near Round Rock who will be required to
complete a comprehensive survey training and orientation session prior to surveying at locations throughout the
destination. All surveyors will be identified by City of Round Rock logo shirts (either provided by the City of
Round Rock or Destination Analysts will have shirts with the logo made) and badges with the City of Round
Rock logo (made by Destination Analysts).
The total visitor sample collected will be dependent on budget, however we recommend that our team collect a
minimum of 800 completed surveys from visitors across two survey waves. 400 completed surveys will be
collected during each wave. While the dates of each survey wave will be finalized in close consultation with the
City of Round Rock, we suggest the first survey wave to be completed in June and the second in October. We
also recommend that the City of Round Rock provide a small branded item (or similar) as an incentive to
Destination Analysts'Research Proposal in Response to RFP No. 14-018 8
Exhibit "A"
visitors to take the survey, if possible. Destination Analysts will work directly with the participating attractions
and hotels on the scheduling of our survey staff to intercept at their properties.
After data collection is complete, Destination Analysts will institute an appropriate weighting plan as necessary
before analyzing the data and preparing the reporting deliverable.
Destination Analysts will manage all aspects of the Visitor Intercept Survey, including survey questionnaire
development, survey scheduling and logistics, hiring, training and managing the local team of surveyors, survey
data collection, data analysis and report development.
Below are images from visitor intercept survey projects Destination Analysts has managed:
f.
f
A Destination Analysts team member surveys a A Destination Analysts team member surveys
St.Pete/Clearwater visitor. a Lexington visitor.
VISITOR PROFILE & ECONOMIC IMPACT STUDY: SURVEY OF MEETING & SPORTS
PLANNERS
Data collected in the Visitor Intercept Survey will be used to estimate visitor volume and used as inputs into
an analysis of the economic impact of tourism. However, in order to accurately assess the incidence of
visitor and market segments and to build a comprehensive destination economic impact model, a Survey of
Meeting&Sports Planners is also recommended.
This survey will be used to help estimate the impact of the meetings and sports industry to the City of Round
Rock—including event organizer and sponsor spending—Destination Analysts will collect annual data from
meeting and sports planners who hold events in Round Rock Towards the end of the period of study, the City
of Round Rock(and any hotel partners who would be willing to share their client's contact information with the
City)will send Destination Analysts a list of meeting and sports planners who held events in Round Rock during
the period of study. Destination Analysts will then send an email to these planners inviting them to take a brief
online survey, in exchange for a$10 Amazon.com a-gift card. (Note: Should the City of Round Rock wish to
Destination Analysts'Research Proposal in Response to RFP No. 19-018 9
Exhibit "A"
send the emails to meeting and sports planner clients themselves, Destination Analysts will provide support as
needed.]
VISITOR PROFILE & ECONOMIC IMPACT STUDY: ECONOMIC IMPACT ANALYSIS
Data from the Visitor Intercept Survey and the Survey of Meeting& Sports Planners will be used in our
proprietary economic impact model,which will in turn provide the City of Round Rock with annual
estimates of:
• Total economic impact of tourism to the city
• Detailed visitor spending profiles
• jobs generated by tourism in the city
• Taxes generated for the city by tourism
• Total and detailed tourism payroll
• Resident tax burden offset by tourism revenues
Please note that the City of Round Rock should also provide Destination Analysts with the following data:
• Any data related to visitor volume
• Transient occupancy tax collections
• Property tax collections (paid by hotel properties)
• Sales tax rate (% retained by the city)
• Sales tax rate(% retained by the State of Texas)
• Any tourism taxes collected by tourism-related businesses (i.e., hotels, major tourist attractions, etc.)
IMAGE, PERCEPTION AND AWARENESS STUDY: SURVEY OF LEISURE TRAVELERS
For the image, Perception and Awareness Study, Destination Analysts recommends an online Survey of Leisure
Travelers to provide quantitative measurements of Round Rock's key destination brand drivers and develop
profiles of aspirational visitors to Round Rock,as well as measure awareness and perceptions of potential
visitors to:
• City of Round Rock
• Austin Metropolitan Area
• State of Texas
Destination Analysts'Research Proposal in Response to RFP No. 14-018 10
Exhibit "A"
DEVELOPMENT OF SURVEY QUESTIONNAIRE
Working closely with the City of Round Rock, Destination Analysts will develop and design the survey
questionnaire to address the study's primary research objectives. Once the survey questionnaire is finalized,
Destination Analysts will program and test the online survey instrument. Destination Analysts implements a
thorough internal testing process for online surveys to ensure that the survey instrument is flawless and ready
for distribution. Once the online survey is finalized and approved by the City of Round Rock, it will then be
distributed to travelers who fit the respondent profile through Destination Analysts partner sample provider.
SAMPLING PLAN
Destination Analysts recommends the Survey of Leisure Travelers be distributed to a sample of in-state
residents as well as a nationally representative sample of out-of-state residents.The national representation
would provide a more holistic look at leisure travelers and their incidence and likelihood of visiting Round Rock,
Austin and the state of Texas for leisure purposes.We recommend a minimum sample of 1,200 completed
surveys. 600 completed surveys will be collected from Texas residents and 600 completed surveys will be
collected from out-of-state residents.
Survey respondents will be screened for basic traveler behaviors to meet the following requirements:
• Age 21 and older
• Primary or shared responsibility of travel planning
• Took at least one leisure trip in the past year of 50 or more miles away from home
ABOUT DESTINATION ANALYSTS'PARTNER SAMPLE PROVIDER
Destination Analysts will use premier global sample provider Dynata/Research Now/SSI (Survey Sampling
International) to distribute the online survey. Dynata/Research Now/SSI employs a broad, multi-sourced
approach to recruit online panel participants worldwide. Participants are recruited via partnerships with trusted
loyalty programs as well as online ads,website messaging, N advertising and offline advertising. Messaging
encourages people to give their opinion, with a wide variety of relevant rewards offered in exchange. A broad,
diverse recruitment and reward strategy is a superior way to achieve maximum representation within online
sampling. Broad recruitment ensures the best representation not only of demographics, but also of
psychographics.
Dynata/Research Now/SSI rigorously maintains its panel of 12 million participants to ensure they are engaged in
honest practices, provide high quality data and are properly incentivized. As mentioned previously, Destination
Analysts only works with panel providers who validate the source of an IP address in order to ensure that it is
consistent with the residence of a given survey respondent. Dynata/Research Now/SSI's quality control product,
Destination Analysts'Research Proposal in Response to RFP No. 19-019 11
Exhibit "A"
SSI Verify, has built-in IP verification functionality. SSI Verify also prevents the same respondent from completing
the same survey more than once.Any respondents who fail verification processes are immediately removed
from SSI's panel of participants.
DATA COLLECTION,PROCESSING&ANALYSIS
Destination Analysts will be responsible for all aspects of this research study, including online data collection,
data processing, data cleansing, data analysis and reporting. Our culture of client dedication ensures the quality
and consistency of data collected for all research studies. For quantitative research studies, this includes several
quality control procedures, data processes and mechanisms to ensure the validity and reliability of data
collected.These include:
• Survey Length: Destination Analysts determines a minimum length of interview to ensure that a
respondent is not speeding through the survey.
• Data Monitoring: Once a survey has fielded, a Destination Analysts team member monitors survey
responses, checking data at least 2 times per 24-hour period. This includes inspection of open-ended
responses to ensure that respondents who wrote in nonsense answers are removed and not counted.
• De-duplication: Destination Analysts carefully checks data from several data points within the survey to
ensure that there are no duplicate respondents. Furthermore, Destination Analysts will "de-dupe" all
lists provided by the MDP against those who have already completed the survey. Thus, those who have
completed the survey will not receive another email invitation.
• Unique ID: Settings in Destination Analysts' survey software ensure that only survey respondents with
a unique ID can enter and complete the survey. Any respondents without an ID or who have an ID
identical to one that has already completed the survey will be automatically terminated from the survey.
• Unique IP Address: Settings in Destination Analysts' survey software ensure that only survey
respondents with a unique IP address can enter and complete the survey. Any respondents who have an
IP address identical to one that has already completed the survey will be automatically terminated from
the survey.
In addition to these quality control procedures, we thoroughly audit and cleanse data both during and after data
collection. During data collection, we screen open-ended responses to ensure that survey respondents write in
valid responses. Should an open-ended response be invalid (e.g., non-sense answers), sampling is adjusted
accordingly to ensure that only sound, accurate data is used in the study.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 12
Exhibit "A"
We also employ a strict outlier control process when analyzing and cleansing data. This ensures that only
reasonable data is accounted for within the data set.
DATA REPORTING
Once all data from the survey is collected, Destination Analysts will clean and analyze it in preparation for
reporting deliverable development.This report of findings will consist of an executive summary, infographic
summaries, data analysis and representative visuals, including charts and data tables.
IMAGE, PERCEPTION AND AWARENESS STUDY; IN-DEPTH INTERVIEWS WITH MEETING
& SPORTS PLANNERS
Qualitative research can yield deep and powerful insight into opinions and perceptions about a destination.As
part of the Image, Perception and Awareness Study, Destination Analysts recommends qualitative research via
in-depth interviews with meeting and sports planners. This will provide insights relative to meeting/conference
planners and sporting events and provide a means to delve far into perceptions of and associations with Round
Rock, adding depth to the quantitative survey findings.
The meeting and sports planners who will participate in the in-depth interviews will include a mix of those who
have planned a meeting/sports event in Round Rock as well as planners who have not planned a meeting/sports
event in the destination. For this component of the research,we request the City of Round Rock's assistance in
securing participants via its meeting and sports planner clients and potential clients. Destination Analysts will also
recruit meeting and sports planner participants through our existing research panel. All meeting and sports
planners will be compensated for their time. Destination Analysts recommend conducting a minimum of 12 in-
depth interviews.
In addition to a screener questionnaire that must be completed by meeting and sports planners, all potential
participants will complete additional screening via phone interview. If selected for the project, participants will
also take part in a five-minute pre-interview technical check at least 24 hours in advance of their scheduled
interview.
A cost-effective alternative to traditional methods, in-depth interviews via online video conference allow the
same level of engagement with participants while saving travel and facility rental expenses. Respondents are
more comfortable in their own environment, making them more apt to share their feelings in greater depth.
They also have the time and are in the appropriate environment to think deeply about their opinions. Up to b
Destination Analysts'Research Proposal in Response to RFP No. 19-018 13
Exhibit "A"
City of Round Rock staff and/or stakeholders may observe the in-depth interviews in real-time online and pass
questions to the moderator via private chat function.
Below are images from similar qualitative research studies in which Destination Analysts conducted in-depth interviews with meeting
and sports planners:
71,
fw
A Destination Analysts team member conducts A Destination Analysts team member conducts
an in-depth interview with a meeting planner. an in-depth interview with a meeting planner.
ADDITIONAL RECOMMENDATIONS
The City of Round Rock is interested in identifying potential new attraction types to Round Rock that would
complement existing venues. Identifying potential new attractions will support the City of Round Rock in its
ultimate objectives of:
• Increasing overall visibility and recognition of Round Rock as a destination
• Stimulation of hotel room night and meetings/convention bookings
Destination Analysts thus recommends adding questions specific to identifying potential new attractions in the
Visitor Intercept Survey, Survey of Meetings&Sports Planners and Survey of Leisure Travelers. Furthermore,
the discussion guide for the In-Depth Interviews with Meeting&Sports Planners will include topics related to
potential attractions that would enhance Round Rock as a meetings and sports destination. Destination Analysts
will analyze the findings from the four research components and will aggregate data specific to potential new
attractions in one final report.
Destination Analysts'Research Proposal in Response to RFP No. 14-018 14
Exhibit "A"
Destination 9, Analysts
DO YOUR RESEARCH
TAB 3 — PROGRAM
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-018 15
Exhibit "A"
PROGRAM
Destination Analysts' technical plan for accomplishing the research components outlined in Tab 2 of this
proposal is detailed in the project timelines below assuming an August 2019 start date.These timelines illustrate
the tasks, sub-tasks, milestones, decision points and plan for accomplishment related to the Scope of Work
detailed in Tab 2.The line items provided for each research project detail the steps that Destination Analysts
will take in proceeding from the project kick off call to the final tasks of delivering the report of findings and
presenting the research results.
Visitor Profile& Economic Impact Study: Estimated Month
Visitor Intercept Survey and Survey of Meeting& Sports Planners
Project discovery and planning kick-off call August 2019
I
Visitor Intercept Survey: Questionnaire development and approval August 2019
Visitor Intercept Survey: Review, testing and finalization of questionnaire August 2019
Visitor Intercept Survey: Scheduling, planning and logistics for Wave I August—September 2019
Visitor Intercept Survey:Wave I data collection September 2019
Visitor Intercept Survey:Wave I data cleansing, data cross-tabulations, data October 2019
coding and data analysis
Visitor Intercept Survey:Wave I interim report development October 2019
Visitor Intercept Survey:Wave I interim report of findings delivered November 2019
Visitor Intercept Survey: Scheduling, planning and logistics for Wave 2 December 2019
Visitor Intercept Survey: Wave 2 data collection January 2020
Survey of Meeting&Sports Planners: Questionnaire development and February 2020
approval
Survey of Meeting&Sports Planners: Review,testing and finalization of February 2020
questionnaire
Survey of Meeting&Sports Planners: Online data collection March 2020
Tax rates and other secondary data sent to Destination Analysts March 2020
Visitor Intercept Survey:Wave 2 data cleansing, data cross-tabulations, data ; April 2020
coding and data analysis
Survey of Meeting&Sports Planners: Data cleansing, data cross-tabulations, April 2020
data coding and data analysis
Destination Analysts'Research Proposal in Response to RFP No. 19-018 16
Exhibit "A"
Economic Impact Analysis April 2020
Visitor Profile& Economic Impact Study: Development of final report of May 2020
findings
Final report of findings delivered June 2020
Online/In-person presentation of findings TBD at City of Round
Rocks convenience
Image, Perception and Awareness Study:
Survey of Leisure Travelers and Estimated Month
In-Depth Interviews with Meeting& Sports Planners
Project discovery and planning kick-off call December 2019
Survey of Leisure Travelers: Questionnaire development and approval December 2019
Survey of Leisure Travelers: Review,testing and finalization of questionnaire December 2019
Survey of Leisure Travelers: Online data collection January 2020
In-Depth Interviews with Meeting& Sports Planners: Research overview, January 2020
recruiting guidelines and screener questionnaire development
In-Depth Interviews with Meeting& Sports Planners: Recruiting of meeting ! January 2020
& sports planner participants
In-Depth Interviews with Meeting& Sports Planners: Discussion guide January 2020
development
In-Depth Interviews with Meeting& Sports Planners: Interviews conducted February 2020
Survey of Leisure Travelers: Data cleansing, data cross-tabulations, data February 2020
coding and data analysis
Image, Perception and Awareness Study: Development of final report Of March 2020
findings j
Final report of findings delivered (t April 2020
Online/In-person presentation of findings
1
TBD at City of Round
gs Rock's convenience
Destination Analysts'Research Proposal in Response to RFP No. 19-018 17
Exhibit "A"
Additional Recommendations Estimated Month
Analysis of all data collected for the Visitor Profile& Economic Impact June 2020
Study and Image, Perception and Awareness Study
Development of final report of findings specific to potential new attractions June 2020
to Round Rock
Final report of findings delivered July 2020
Online/In-person presentation of findings ~� TBD at City of Round
Rock's convenience
Destination Analysts complies with all applicable rules and regulations of Federal, State and Local governing
entities as well as all terms stated within and pertaining to RFP No. 19-018
DELIVERABLES
During the period of study for the Visitor Profile& Economic Impact Study, the City of Round Rock will be
provided with an interim report of topline findings, which will incorporate all visitor data collected to date.
At the end of the period of study, the City of Round Rock will receive the following deliverables for the Visitor
Profile& Economic Impact Study:
• Comprehensive final Round Rock Visitor Profile&Tourism Economic Impact Study report, including an
Executive Summary, summary profiles of key visitor segments, visual representations and data analysis
• Comparative analysis of traveler demographics and segments of interest(e.g., point of origin, age, place
of stay, etc.)
• Economic impact estimates
• A set of custom cross-tabulations per the City of Round Rock's request
• Online or in-person presentation of final findings
• PowerPoint file of presentation findings
The City of Round Rock will receive the following deliverables for the Image, Perception and Awareness
Study:
• Comprehensive final Round Rock Image, Perception and Awareness Study report, including an Executive
Summary, visual representations and data analysis
• A set of custom cross-tabulations per the City of Round Rock's request
• Online or in-person presentation of final findings
Destination Analysts'Research Proposal in Response to RFP No. 19-018 18
Exhibit "A"
0 PowerPoint file of presentation findings
The City of Round Rock will receive the following deliverables related to Destination Analysts' additional
recommendations to identify potential new attractions for Round Rock:
• Comprehensive final report regarding new attractions, including an Executive Summary,visual
representations and data analysis
• Online or in-person presentation of final findings
• PowerPoint file of presentation findings
EXAMPLE REPORTING
The following example reporting pages are from other similar Visitor Profile& Economic Impact and Image,
Perception and Awareness studies conducted by Destination Analysts:
FAMILY TRAVELERS nese,.:Y.`. i
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Destination Analysts'Research Proposal in Response to RFP No. 19-018 19
Exhibit "A"
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Destination Analysts'Research Proposal in Response to RFP No. 19-018 20
Exhibit "A"
Destination <10, Ana lysts
DO YOUR RESEARCH
TAB 4 — PROJECT MANAGEMENT STRUCTURE
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-018 21
Exhibit "A"
PROJECT MANAGEMENT STRUCTURE
Below is a chart depicting the organizational structure of Destination Analysts.
ee�
Erin-Francis Cummings and Dave Bratton will be the project leaders, with the remaining five employees in
supporting roles of this research project. Myha Vo, Melissa Elkins and Elizabeth Ruemelin will report to
Destination Analysts' Vice President, Kimberly Vince-Cruz who will serve as a liaison to the chief research
designer, Erin Francis-Cummings. David Reichbach will report directly to David Bratton.
Myha Vo with serve as the primary point of contact with the City of Round Rock project management and team
personnel.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 22
Exhibit "A"
Destinations Analysts
DO YOUR RESEARCH
TAB 5 — PRIOR EXPERIENCE
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-018 23
Exhibit "A"
PRIOR EXPERIENCE
Destination Analysts is a full-service market research company that provides the travel industry with a breadth
of insights through actionable storytelling of data—from the comprehensive understanding of target audiences,
to ROI analysis and economic forecasts. Founded in 2003 by tourism marketing and research professionals, we
have a uniquely valuable understanding of the informational needs of destination marketing organizations, as well
as an unrivaled expertise in the design and execution of research strategies to meet those needs.
Destination Analysts provides its 170+ clients with exceptional intelligence to ever evolve the effectiveness of
their tourism marketing and advertising strategies, and thus is highly experienced in facilitating comprehensive
visitor profile and tourism economic impact studies as well as extensive brand, image and perception studies—
particularly to the objectives desired by the City of Round Rock. Drawing on three decades of experience and a
commitment to progressive methodologies and analysis strategies, our team has worked with numerous
destinations on the city, state and national level helping them measure,track and improve all aspects of their
brands.
For example, Destination Analysts conducts an exhaustive on-going study on behalf of Visit St.
Petersburg/Clearwater to track and measure the economic impact of visitors to the destination. Destination
Analysts employs a multi-faceted research approach which is informed by an array of surveys, including:
• Potential travelers in key markets
• Visitors while they are in-market
• Hoteliers and lodging partners
• Residents regarding visiting friends and relatives
• Attendees to major events and festivals
• Meeting and event planner clients
Armed with comprehensive profiles of key visitor segments,Visit St. Pete/Clearwater is able to communicate
the elements of its brand most likely to convert potential visitors to the area. Utilizing the collected visitor
profile data with Destination Analysts' Destination Economic Impact Model, the organization is able to create
detailed estimates of visitor spending and volume for each of these segments.With these assets, Visit St.
Pete/Clearwater is able to effectively position the destination to travelers worldwide and continue to grow
tourism to the area.
Destination Analysts also conducts an annual Visitor Profile and Economic Impact Study on behalf of Visit Napa
Valley which employs a mixed methodology to develop an accurate visitor profile, actionable intelligence to
work with in developing their advertising and marketing strategies and an understanding of how much growth in
Destination Analysts'Research Proposal in Response to RFP No. 19-018 24
Exhibit "A"
visitation has impacted the county. The research plan implemented for this project included four components
described below:
• Self-administered survey of lodging guests conducted at numerous lodging properties to determine the
types of visitors that came to Napa Valley and stayed in paid lodging accommodations
• Visitor intercept survey conducted on a random sample of visitors at various Napa Valley locations and
attractions to understand more about visitors who did not stay in paid lodging, such as visiting friends
and relatives (VFR's) or day-trippers
• Supplemental telephone survey of Napa Valley homes to quantify the number of VFR's who stayed
overnight in a private home
• Surveys of meeting planners and local area hoteliers conducted to develop estimates of expenditures
made to plan events in the area
Utilizing our Destination Economic Impact Model, Visit Napa Valley has been able to estimate visitor spending
and volume in detail. Combined with a comprehensive visitor profile, Visit Napa Valley can more effectively
position itself to travelers and communicate the value of tourism to the local community.
Regarding Destination Analysts' experience facilitating image, perception and awareness studies, our firm was
hired by the Fort Worth Convention &Visitors Bureau with the intention of seeking insights to cultivate a
strategy to capitalize on their brand's assets and ultimately grow year-around tourism to their city. Knowing
the critical importance of understanding Fort Worth's current and potential customers, Destination Analysts
designed a research study for the CVB's marketing team to:
• Identify what elements of the brand most emotionally connect with travelers and to which types of
travelers
• Measure travelers' overall associations, perceptions and their depth of understanding of the Fort
Worth brand
• Provide travelers' evaluation of Fort Worth's destination attributes
• Assess Fort Worth's competitive position as a destination brand and identify areas of strength and
opportunity
Destination Analysts employed an online survey of a random, representative sample of 3,000 travelers in
Fort Worth's top in-state and out-of-state visitor markets. This, combined with a creative, custom
questionnaire provided a rich data set from which to mine many important and unexpected findings.The
findings from this research provided the Fort Worth CVB with a comprehensive analysis of the city's strongest
destination brand components—and, as importantly—how much they own these brand assets relative to their
fiercely competitive destinations.This research is then repeated at regular intervals in order to extensively
track the brand's performance, as well as the CVB's marketing program's influence on that performance.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 25
Exhibit "A"
Similar to the Fort Worth CVB's need to determine consumer opinion, Visit San Antonio didn't know how
people felt about their brand and they needed to determine precisely where their resources would best be
directed, and whom they should be targeting. Destination Analysts recommended a quantitative research
approach to guide their transition to a persona-based marketing strategy. In order to determine the personas
of travelers that demonstrated the most interest in San Antonio experiences and how these travelers perceive
the San Antonio destination brand, Destination Analysts identified the personas that comprised San Antonio's
visitor mix,focusing on those that were most interested in San Antonio's brand assets, expressed the highest
interest and likelihood to visit and represented the greatest economic impact for conversion.We also
developed and applied an algorithm to prioritize these personas according to their concentration throughout
the United States as well as in Canada and Mexico. This research uncovered the highest priority personas as
well as revealing which personas would be best to focus on for the long-term health of the San Antonio brand.
REFERENCES
Destination Analysts has recently conducted similar research projects to this proposed scope of work for the
following travel &tourism industry clients.The City of Round Rock is welcome to contact these tourism
references:
IRVING CONVENTION&VISITORS BUREAU
• Project:Visitor Profile&Economic impact Study 4
• Project Year: 2007—Present I RN, I I I G
.YEXAS
• Reference Name: Diana Pfaff
• Title:Vice President, Marketing& Communications
• Phone: (972) 252-7476
• Email: dpfaff(a)irvingtexas.com
FORT WORTH CONVENTION&VISITORS BUREAU
• Project: Fort Worth Brand Study rvq
• Project Year: 2018—present FORT WORTH
• Reference Name: Mitch Whitten
• Title:Vice President of Marketing
• Phone: (817) 698-7841
• Email: mitchwhittena-fortworth.com
Destination Analysts'Research Proposal in Response to RFP No. 19-018 26
Exhibit "A"
VISITLEX
• Project:Visitor Profile Study
• Project Year: 2017-2018
• Reference Name: Gathan Borden ~
• Title:Vice President of Marketing V I S I T L E X
• Address: 215 West Main Street Ste. 150, Lexington, KY 40507
• Phone: (502) 727-4214
• Email: eborden visitlex.com
VISIT ST. PETEICLEARWATER
• Project:Visitor Profile and Tourism Economic Impact Study ST.PETE
CLEARWATER
• Project Year: 2018—Present
• Reference Name: Leroy Bridges
• Title:Vice President
• Phone: (727) 421-7432
• Email: leroy(E)visitspc.com
VISIT NAPA VALLEY
• Project:Visitor Profile and Tourism Economic Impact Study LEGENDARY"
`- NA P A
• Project Year: 2013 —Present
VALLEY
• Reference Name: Clay Gregory
• Title: President& CEO
• Phone: (707) 260-01 1 1
• Email: clay@visitnapavalley.com
ALEXANDRIA CONVENTION&VISITORS ASSOCIATION
• Project: Brand, Visitor&New Audience Research
• Project Year: 2019—Present EST. I Td 9
• Reference Name:Tom Kaiden
• Title: Chief Operating Officer
• Phone: (703) 652-5361
• Email: tkaiden _visitalexva.com
Destination Analysts'Research Proposal in Response to RFP No. t 9-018 27
Exhibit "A"
Destinationy. Analysts
DO YOUR RESEARCH
TAB 6 -- PERSONNEL
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-019 28
Exhibit "A"
PERSONNEL
Destination Analysts' lead research team has extensive experience in conducting, managing and executing visitor
profile and tourism economic impact studies and brand research on behalf of our travel and tourism clients.The
following presents resumes of Destination Analysts' lead research team.
y Erin Francis Cummings—President& CEO
?. A go-to expert resource in the destination marketing industry, Erin Francis-
Cummings has spent the last two decades studying travelers from across the globe
�+ie
and translating their evolving, complex and fascinating behaviors and opinions into
marketing insights for Destination Analysts' 170+ clients.
Erin has designed research strategy and facilitated consumer research for some of
the world's greatest destination brands, including Bermuda,the Fiji Islands, California and Florida. Erin currently
serves on the international Board of Directors for the Travel and Tourism Research Association and is a
frequent speaker for U.S. Travel, Destinations International and other industry events. Prior to leading
Destination Analysts, she held advertising and marketing management roles at Amtrak and San Francisco Travel,
and holds a Bachelor's degree in political science from the University of California Los Angeles.
Erin will design the research plan that achieves the City of Round Rock's goals and objectives and will serve as
the principal architect of the research reporting deliverable. Erin will oversee all aspects of this research,
including research design, management, data analysis and reporting. Erin will devote 10%of her time on her
assigned tasks for this research project.
- - - Dave Bratton—Founder& Managing Director
Dave Bratton is a widely respected DMO industry thought leader. He is well known
for his creative approach to market research which is supported by rigorous,
carefully-designed programs. Dave's work has been recognized with several awards,
>' including being named as one of HSMAI's 25 Most Extraordinary Minds in Sales and
•, i' Marketing. Prior to founding Destination Analysts, he spent a decade pioneering new
tourism research techniques and digital marketing for San Francisco Travel as
Director of Marketing and Research. Before coming to the travel industry, he worked as an economist for the
United States Department of Commerce, Bureau of Economic Analysis in Washington, D.C. and was a
contributor to the noted 'journal, Survey of Current Business. Dave holds a Bachelor of Science in Economics from
Iowa State University and a Master of Arts in Economics from the University of Arizona.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 29
Exhibit "A"
As Destination Analysts' in-house economist, Dave will conduct the economic impact modeling and will also
oversee all aspects of this research, including research design, management, data analysis and reporting. Dave
will devote 15% of his time on his assigned tasks for this research project.
- Kimberly Vince-Cruz–Vice President
Having spent the last decade conducting market research for destinations, the travel
trade and meetings industry, Kimberly directs and implements the vision of all
Destination Analysts' research studies. Kimberly brings a wealth of experience to
our clients—overseeing project launch, data collection and analysis for all research
f
F` projects, from in-depth brand research to ROI and conversion studies. Kimberly is a
sought resource in the industry for her expertise in DMO website usability,
audience profile, analytics and conversion, and was recognized as one of California Travel Association's"30 And
Under"Tourism Emerging Leaders. She holds a Bachelor of Arts in American Studies and Ethnicity with a minor
in Spanish from the University of Southern California.
Kimberly will play an instrumental role in the organization and execution of Destination Analysts' research
approach for the City of Round Rock as well as writing and developing final project reports. Kimberly will
devote 10%of her time on her assigned tasks for this research project.
– - � mm, David Reichbach – Director of Analytics& Data Security
David Reichbach is a highly regarded information privacy attorney who received his
JD from the University of San Francisco. David oversees the analysis, retention and
security of data collected in Destination Analysts' diverse research programs. With
y.�. his BS in Engineering, Mathematics and Statistics from the University of California,
' Berkeley and a passion for technology, David brings his specialization and skills to
Destination Analysts' quantitative studies with extensive experience in data
segmentation and analysis. He is also highly valued by Destination Analysts' clients for his leadership in qualitative
research, including focus group moderation and user experience research. David is a frequent speaker on
technology's role in tourism insights at travel industry events.
In addition to writing data cross-tabulations for the City of Round Rock, David will be in charge of programming
the online survey instruments and data segmentation. David will devote 10%of his time on his assigned tasks for
this research project.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 30
Exhibit "A"
Myha Vo—Director of Research
As Destination Analysts' Director of Research, Myha manages the operational
planning and implementation for Destination Analysts' suite of research studies. She
has presided over year-long robust visitor profile research programs as well as
designed and executed comprehensive audience analysis and traveler persona
research for destinations across the U.S. Myha is also an exemplary moderator in
Destination Analysts' qualitative research programs, including in-depth interviews
and online focus groups of leisure travelers, meeting planners, DMO stakeholders and travel trade. Her graphic
design background and skills guide the visual layout of Destination Analysts' report deliverables. Myha holds a
Bachelor of Science in Biology from California State Polytechnic University, Pomona.
Myha will be highly involved in planning and managing the Visit Intercept Survey fieldwork as well as report
development and report writing. Myha will also play an instrumental role in the graphic design and visual layout
of reporting deliverables Myha will devote 10%of her time on her assigned tasks for this research project.
Melissa Elkins—Director of Research
The former Director of Research for the Arizona Office of Tourism, Melissa brings
her thirteen years of highly-skilled tourism research practitioner to her servicing of
0 Destination Analysts clients. Melissa plays an instrumental role in managing the
multiple components of each research project, for both quantitative and qualitative
r
efforts. Prior to joining Destination Analysts, Melissa also spent a year working with
the Wyoming Office of Tourism, launching and managing their expansive tourism
research programs. In her nine years at the Arizona Office of Tourism, she led the annual strategic segmentation
analysis of AOTs target audiences and pre/post campaign research efforts. Melissa has served as a board
member for the Greater Western Travel&Tourism Association and holds a Bachelor's degree in Business
Administration from the University of New Mexico.
Melissa will carefully review all final reporting deliverables for the City of Round Rock. Melissa will devote 10%
of her time on her assigned tasks for this research project.
Elizabeth Ruemelin—Research Manager
Elizabeth's analytical skills, thoughtful approach in providing solutions to questions
and challenges and proficiency in the Mandarin language are highly valued assets by
the Destination Analysts team as well as our DMO clients. From managing on-the-
ground field surveyor teams for visitor research to her keen reporting analysis for
destination brand perception studies, she is quickly developing her market research
Destination Analysts'Research Proposal in Response to RFP No. 19-018 31
Exhibit "A"
expertise. During her tenure at Destination Analysts, she continues to strengthen her skills in reporting and
delivering invaluable insights to DMO clients.
Elizabeth will manage the fieldwork team for the Visitor Intercept Survey, from training surveyors to managing
data collection. Elizabeth will devote 10%of her time on her assigned tasks for this research project.
Destination Analysts'Research Proposal in Response to RFP No. 19-013 32
Exhibit "A"
Destination Analysts
OO YOUR RESEARCH
TAB 7 — AUTHORIZED NEGOTIATOR
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 33
Exhibit "A"
AUTHORIZED NEGOTIATOR
Erin Francis-Cummings, President&CEO of Destination Analysts is authorized to negotiate Contract terms and
render binding decisions on Contract matters. Erin's contact information is listed below:
• Name: Erin Francis-Cummings
• Address: 1728 Union Street, Suite 310 San Francisco, CA 94123
• Phone: (415) 716-7983
• Email: erinO-destinationanalysts.com
Destination Analysts'Research Proposal in Response to RFP No. 19-018 �4
Exhibit "A"
Destination I An a Lysts
DO YOUR RESEARCH
TAB 8 — ATTACHMENTS AND ADDENDUM
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-018 35
Exhibit "A"
ATTACHMENTS AND ADDENDUM
All necessary attachments and addendums are attached on the following pages.
Destination Analysts'Research Proposal in Response to RFP No. 19-018 36
Exhibit "A"
Destination AnaLysts
" DO YOUR RESEARCH
TAB 9 — COST PROPOSAL
CITY OF ROUND ROCK, TEXAS
TOURISM IMPACT STUDY RESEARCH PROPOSAL
Destination Analysts'Research Proposal in Response to RFP No. 19-018 37
Exhibit "A"
COST PROPOSAL.
Destination Analysts estimates the following costs to conduct this Tourism Impact Study on behalf of the City of
Round Rock.The proposed cost to conduct the Tourism Impact Study, which includes the Visitor Profile&
Economic Impact Study and the Image, Perception &Awareness Study, shall not exceed $150,000. These costs
are based on the recommended methodologies and sampling plans described earlier.While Destination Analysts
recommends the sample sizes cited in this proposal, the costs can be adjusted down based on a smaller sample
size. However, it should be noted that segmentation may be limited, and in some instances, may not be possible,
with smaller sample sizes.
Project Cost
Visitor Profile& Economic Impact Study: $90,000
Visitor Intercept Survey and Survey of Meeting&Sports Planners
Image, Perception and Awareness Study:
Survey of Leisure Travelers and $30,450
In-Depth Interviews with Meeting&Sports Planners
Additional Recommendations $8,400
Additional Contingency Budget $21,150
TOTAL $150,000
Project costs below are reflective of all Destination Analysts' research services to conduct, manage and execute
this Tourism Impact Study, including.
• Research discovery and planning
• Survey questionnaire development
• Survey programming and design
• Fieldwork and data collection
• Deployment of survey email invitation
• Data preparation and cleansing
• Data analysis
• Custom data cross-tabulations
• Reporting
• Online presentation of findings
Destination Analysts'Research Proposal in Response to RFP No. 19-018 38
Exhibit "A"
• In-person presentation of findings
• Management and fulfillment of incentives
The data tables below present the category of personnel, hourly rates and estimated hours for each project
task.
Visitor Profile& Economic Impact Study: Category of Estimated
Visitor Intercept Survey and Survey of Personnel Hourly Rate Hours
Meeting & Sports Planners
Project discovery and planning kick-off call Manager, Senior $175 3
Analyst,Analyst
Visitor Intercept Survey: Questionnaire Manager, Senior $175 16
development and approval Analyst
Visitor Intercept Survey: Review,testing and Analyst $I65 8
finalization of questionnaire
Visitor Intercept Survey: Scheduling, planning Manager, Analyst $165 16
and logistics for Wave I
Visitor Intercept Survey:Wave I data collection ( Manager, Analyst N$165 100
Visitor Intercept Survey:Wave 1 data cleansing,
data cross-tabulations, data coding and data Senior Analyst $175 32
analysis
Visitor Intercept Survey:Wave I interim report Manager, Senior $175 50
development Analyst, Analyst
Visitor Intercept Survey: Scheduling, planning Manager, Analyst $165 16
and logistics for Wave 2
Visitor Intercept Survey:Wave 2 data collection I Manager, Analyst $165 100
Survey of Meeting&Sports Planners: Manager, Senior y $175 12
Questionnaire development and approval Analyst
Survey of Meeting&Sports Planners: Review, Analyst $165 6
testing and finalization of questionnaire
Survey of Meeting& Sports Planners:
Management and monitoring of online data Analyst $I65 8
collection
Visitor Intercept Survey:Wave 2 data cleansing,
data cross-tabulations, data coding and data Senior Analyst $175 32
analysis
Survey of Meeting& Sports Planners: Data
cleansing, data cross-tabulations, data coding and Senior Analyst $175 16
data analysis _
Economic Impact Analysis January 2020 $200 24
Visitor Profile&Economic Impact Study: Manager, Senior E $175 40
Development of final report of findings Analyst, Analyst
Online/1n-person presentation of findings Manager, Senior $175 8
Analyst
Destination Analysts'Research Proposal in Response to RFP No. 19-018 39
Exhibit "A"
Image, Perception and Awareness Study:
Survey of Leisure Travelers and Category of Hourly Rate Estimated
In-Depth Interviews with Meeting& Personnel Hours
Sports Planners
Project discovery and planning kick-off call Manager, Senior $175 3
Analyst, Analyst
Survey of Leisure Travelers: Questionnaire Manager, Senior $175 16
development and approval Analyst
Survey of Leisure Travelers: Review, testing and Analyst $165 8
finalization of questionnaire
Survey of Leisure Travelers: Management and Analyst $165 8
monitoring of online data collection
In-Depth Interviews with Meeting& Sports
Planners: Research overview, recruiting Senior Analyst $175 8
guidelines and screener questionnaire
development
In-Depth Interviews with Meeting&Sports
Planners: Recruiting of meeting&sports planner Analyst $165 16
1
_Participants ---
In-Depth Interviews with Meeting&Sports Senior Analyst $175 8
Planners: Discussion guide development III
�In-Depth Interviews with Meeting& Sports Manager, Senior $175 12
Planners: Interviews conducted Analyst, Analyst
Survey of Leisure Travelers: Data cleansing,data Manager, Analyst $165 16
cross-tabulations, data coding and data analysis
Image, Perception and Awareness Study: Manager, Senior $175 40
Development of final report of findings Analyst
Online/In-person presentation of findings Manager, Senior $175 8
Analyst
Additional Recommendationsj Category of Hourly Rate Estimated
1 Personnel Hours
...__.�.................... —_
Development of final report of findings Manager, Senior $175 40
Analyst, Analyst
Online/In-person presentation of findings Manager, Senior $175 8
Analyst I
Destination Analysts'Research Proposal in Response to RFP No. 19-018 40
Exhibit "A"
The data table below presents the itemized cost of supplies and materials, travel expenses and printing.These
costs are included in the total project fee of$128,850, excluding the additional contingency budget of$21,150.
Itemized Costs Estimated Cost
Paper surveys for visitor intercept surveys $600
Badges and polo shirts for visitor intercept surveyors $100
Clipboards and pens for visitor intercept surveys $50
Travel expenses for Wave I visitor intercept survey data collection $2,000
Travel expenses for Wave 2 visitor intercept survey data collection $2,000
Travel expenses for in-person presentation of findings i $1,000
Destination Analysts'Research Proposal in Response to RFP No. 19-018 41
EXHIBIT
«A„
FIRST AMENDMENT
TO
ECONOMIC DEVELOPMENT AGREEMENT
This FIRST AMENDMENT TO ECONOMIC DEVELOPMENT AGREEMENT "First
Amendment") by and between the City of Round Rock ("City") and Stonemill Hospitality, LLC,
("SHLLC") is made and entered into this day of 2019, by and between the
City, and SHLLC.
RECITALS
WHEREAS, the City and SHLLC entered into that one certain Economic Development
Agreement (the "Agreement") effective January 26, 2017, setting forth various agreements and
understandings with respect to the City's agreement to provide SHLLC certain incentives in
consideration for SHLLC's agreement to construct an Embassy Suites Hotel and convention center
in the City; and
WHEREAS, the City and SHLLC now desire to amend the Agreement as described
herein;
NOW, THEREFORE, in consideration of the mutual covenants and conditions herein
contained, the parties agree as follows:
I.
Section 4.2 of the Agreement is hereby amended to read as follows:
4.2 Improvements and Additions to Real and Personal Property. SHLLC agrees to spend
a cumulative total of at least $20,000,000.00 in improvements to real property and additions to
personal property within the City no later than July 1, 2021, and maintain real property,
improvements, and business personal property within the City with a historic cost of
$20,000,000.00 during the Term of this Agreement.
II.
To the extent necessary to effect the terms and provisions of this First Amendment, the
Agreement is hereby amended and modified. In all other respects, the aforesaid Agreement is
hereby ratified and confirmed.
IN WITNESS WHEREOF,the parties have executed and attested this First Amendment
by their officers thereunto duly authorized.
00427842.000X
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CITY OF ROUND ROCK,TEXAS
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By:
Craig Morgan, Mayor
STONEMILL HOSPITALITY, LLC
By:
Printed Name: h rl
Title: N4 S
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EXHIBIT
O .00
ROUND ROCK TEXAS
FiNmr.E
QUARTERLY INVESTMENT REPORT
For the Quarter Ended
June 30, 2019
Prepared by
Valley View Consulting, L.L.C.
The investment portfolio of the City of Round Rock, Texas is in compliance with the Public Funds
Investment Act and the Investment Policy and Strategies.
signature withheld for security purposes signature withheld for security purposes
Chief Financial Officer Deputy Chief Financial Officer
signature withheld for security purposes signature withheld for security purposes
Accountinq Manager
Treasury Accountant
Valley View Consulting, LLC Dated
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.
Summary Holdings by Investment Category (Security Sector)
June 30,2019
YTM @
Description Cost Book Value Market Value
Cash 0.72% $ 6,636,612 $ 6,636,612
Certificates of Deposit 2.46% 241,472,769 241,472,769
Local Government Investment Pool 2.38% 19,838,310 19,838,310
Money Market Accounts 2.63% 1 32,466,168 32,466,168
US Agency 2.45% 50,870,734 51,074,382
US Treasury 2.38% 993,783 995,703
Total/Average 2.44% $ 352,278,376 $ 352,483,943
March 31,2019
YTM @
Description Cost Book Value Market Value
Cash 0.53% $ 5,188,138 $ 5,188,138
Certificates of Deposit 2.39% 251,864,351 251,864,351
Local Government Investment Pool 2.42% 6,019,855 6,019,855
Money Market Accounts 2.66% 1 22,227,621 22,227,621
Municipal 2.16% 4,898,612 4,896,383
US Agency 2.46% 49,265,130 49,330,684
Total/Average 2.38% $ 339,463,706 1 $ 339,527,031
Average Yield
Current Fiscal Year-
Quarter(1) to-Date(2)
Total Portfolio 2.44% 2.33%
TexPool Yield 2.38% 2.36%
Rolling Three Mo. Treas. Yield 2.36% 2.38%
Rolling Six Mo. Treas. Yield 2.43% 2.44%
Rolling 1 Yr. Treas. Yield 2.48% 2.43%
Rolling 2 Yr. Treas.Yield 2.22% 2.10%
Investment Income(3)
Interest Income(Approximate) $ 2,059,936 $ 5,585,414
WAM at 6/30/2019 Policy WAM Max
Total Portfolio 223 days 540 days
Pooled Funds 262 days 540 days
(1)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.
(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.
(3)Investment Income includes coupon interest,accrued interest,and discount and premium amortization.
Page 1.
Valley View Consulting,L.L.C.
Economic Overview 6/30/2019
The Federal Open Market Committee(FOMC)maintained the Fed Funds target range 2.25%-2.50%(Effective Fed Funds are trading+/-2.40%). The Futures Market projects multiple decreases
beginning later this summer. Gradual FRB portfolio reduction continues by limiting reinvestment of maturing holdings, but that strategy will end this summer. May Non Farm Payroll only generated
75,000 new jobs, lowering the three month rolling average to 151 k. Crude oil bounced up and down this spring around+/-$60. The Stock Markets reached new highs. Overall economic activity,
including housing, remains mostly favorable but mixed. The inverted Yield Curve continues towards lower yields.
3.00 Treasury Yield Curves _ 3,250 S&P 500
� r � ettra � � � am 3.000
2.50 crani 2,750
Al-
2,500
2.00 2,250
2,000
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Valley View Consulting,L.L.C. Page 2.
Holdings by Investment Category
June 30,2019
Pooled Debt Service Debt Service Reserve Capital Project&Special Total
Funds Funds Funds Purpose Funds Portfolio
Description Book Value %of Portfolio Book Value %of Portfolio Book Value %of Portfolio Book Value °!of Portfolio Book Value %of Portfolio
Cash $ 6,631,822 2% $ 4.790 0°% $ - 0% $ - 0% $ 6,636,612 2%
Certificates of Deposit 193,601,099 55% 7,898,918 2% — 0% 39,972,752 11% 241,472,769 69%
Investment Pools 8,871,863 3% 8,563,142 2% 8,591 0% 2,394,714 1% 19,838,310 6%
Money Market Accounts 7,622,500 2% 9,058,478 3% 839,093 0% 14,946,098 4% 32,466,168 9%
US Agency 49,382,905 14% — 0% — 0% 1,487,829 0% 50,870,734 14%
US Treasury — 0% — 0% — 0°% 993,783 0% 993,783 0%
Total!Average $266,110,189 76% 1 $ 25,525,327 7% $ 847,684 0% 1 $ 59,795,176 1 17% $352,278,376 100%
Portfolio Balances (Millions)
Order of Liquidity
$350
I
oCash
$300
$250 oGovernment
Investment
i Investment Pool
$200 f ®Money Market Account
$150 -.._.___ _�.. ....... ■USTreasury
$100
o US Agency
$50
®Certificates of Deposit
Pooled Funds DS Funds DSR Funds CP&SP Funds Total Portfolio
6/30/2019 6/30/2019 6/30/2019 6/30/2019 6/30/2019
Page 3.
Valley View Consulting,L.L.C.
Investment Holdings by Investment Category Quarterly Transactions By Investment Category
June 30,2019 June 30,2019
Portfolio Net Cash Equivalent
Description Book Value %of Portfolio Limitation Description Buys Sells Maturities Calls Interest Deposit/(Withdrawal)
Cash $ 6,636,612 2% 100% Cash $ — $ — $ — $ — $ — $ 1,448,474
Certificates of Deposit 241,472,769 69% 75% Certificates of Deposit 23,417,291 33,808,873 1,357,591
Commercial Paper 0% 10%/5% Commercial Paper
Investment Pools 19,838,310 6% 100% Investment Pools — — 85,129 13,818,454
Money Market Accounts 32,466,168 9% 50% Money Markets Accounts — — — — 161,254 10,238,548
Municipal 0% 35%/5% Municipal — — 4,900,000 1 —1 47,461 �505
US
Agency 50,870,734 14% Combined US Agency 1,486,801 — — — 92,473 USTreasury 993,783 0% 75% US Treasury 995,920Total!Avera e $ 352 278,376 100%a PASSED Totals $ 25,900012 $ — $ 38,708,873 $ — $ 1743,909 $
Portfolio Balances(Millions)
Order of Liquidity Portfolio Composition
$400 June 30,2019
$350 D Cash Certificates of
Deposit
69%
$300 ❑Local Government Investment
Pool
$250 ®Money Market Account Cash
2%
$200 US Treasury
■US Treasury 0%
$150a:
._.._......
o US Agency
A .
$100 __ US Agency
❑Municipal 14% z
$50 ...
®Certificates of Deposit
6/30/18 9/30/18 12/31/18 3/31/19 6/30/19
Money Market Investment
Accounts Pools
9% 6%
Page 4.
Valley View Consulting,L.L.C.
Portfolio Balances By Fund(Millions)
$400
$350
$300 ■Capital Project&Special
Purpose Funds
$250
oDebt Service Reserve Funds
x%
i
$200
f
o Debt Service Funds
$150 r
ET
$100
I mPooled Funds
1
$50
9/30/20151213112015 3131/2016 613012016 913012016 1213112016 3/3112017 613012017 9/30/2017 12/3112017 3/3112018 6/3012018 9/3012018 12/31/2018 3/31/2019 613012019
Page 5.
Valley View Consulting,L.L.C.
City of Round Rock
Pooled Funds Performance
2.60 _______
2.50
2.40
2.30
2.20
2.10
2.00
1.90
1.80 --
1.70
1.60
1.50
1.40
1.30
L 1.20
a 1.10
1.00
0.90
0.80
0.70
0.60
0.50 ...+
0.40 .
Ole
0.30
0.20
0.10
0.00
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�r�'���O�r����
00^0n�O\���`L � 1 "� D 501 00r�0
Round Rock TexPool
Rolling 1.5 yr Treasury (Policy WAM max) Rolling 9 mo Treasury
Page 6.
Valley View Consulting,L.L.C.
Holdings by Allocation and Portfolio Fund June 30, 2019
Coupon Credit Rating Settlement Face Amount/ Book Value Market Days to YTM
Issuer Rate Date Shares Price Market Value Maturity Date Maturity Book
Fund 000-Pooled Investments
NexBank 2.63% 11/29/2016 $ 7,622,500 $ 7,622,500 100.00 $ 7,622,500 N/A 1 2.63%
JPMor an Chase 0,72% 09/30/2015 6,631,822 6,631,822 100.00 6,631,822 N/A 1 0.72%
TexSTAR 2.38% AAArn 09/30/2015 197,603 197,603 100.00 197,603 N/A 1 2.38%
TexPool 2.38% AAArn 09/30/2015 8,661,493 8,661,493 100.00 8,661,493 WA 1 2.38°%
TexasDAILY 2.41% AAArn 09/30/2015 12,767 12,767 100.00 12,767 N/A 1 2.41%
FHLMC 0.88% Aaa/AA+/AAA 02/28/2018 10,000,000 9,993,292 99.90 9,989,643 07/19/2019 19 2.191/.
Le ac Texas Bank 1.70% 08/10/2017 8,253,013 8,253,013 100.00 8,253,013 08/09/2019 40 1.70%
R Bank 1.80°% 08/10/2017 2,063,925 2,063,925 100.00 2,063,925 08/10/2019 41 1.80%
Le ac Texas Bank 1.70% 08/28/2017 5,158,133 5,158,133 100.00 5,158,133 08/28/2019 59 1.70%
Le ac Texas Bank 2.10% 12/21/2017 4,127,773 4,127,773 100.00 4,127,773 09/20/2019 82 2.10%
JPMor anChase 1.64% 10/02/2017 14,232,789 14,232,789 100.00 14,232,789 10/02/2019 94 1.64°%
Lubbock National Bank 1.65°% 10/02/2017 10,278,467 10,278,467 100.00 10,278,467 10/02/2019 94 1.65°%
R Bank 1.83°% 10/02/2017 2,055,607 2,055,607 100.00 2,055,607 10/02/2019 94 1.83%
FNMA 0.00°% -/AA/AA- 10/11/2017 5,000,000 4,975,805 99.40 4,970,000 10/09/2019 101 1.79%
REFCORP 0.00% -/AA/- 10/29/2018 8,500,000 8,433,058 99.36 8,445,940 10/15/2019 107 2.74%
JPMor anChase 1.98% 11/09/2017 5,100,375 5,100,375 100.00 5,100,375 11/09/2019 132 1.98%
East West Bank 2.67% 02/20/2019 5,048,142 5,048.142 100.00 5,048,142 11/20/2019 143 2.67%
Vera Bank 0.99% 12/05/2016 245,000 245,000 100.00 245,000 12/05/2019 158 0.99%
Le ac Texas Bank 2.20% 12/21/2017 10,334,882 10,334,882 100.00 10,334,882 12/20/2019 173 2.20%
Le ac Texas Bank 2.20% 01/08/2018 7,736,705 7,736,705 100.00 7,736,705 01/08/2020 192 2.20%
East West Bank 2.21°% 01/26/2018 10,320,473 10,320,473 100.00 10,320,473 01/26/2020 210 2.21%
FFCB 2.07°% Aaa/AA+/AAA 02/28/2018 10,000,000 9,984,743 99.93 9,992,789 02/14/2020 229 2.32%
JPMor anChase 2.56% 03/21/2018 5,129,778 5,129,778 100.00 5,129,778 03/21/2020 265 2.56%
Independent Bank 2.62°% 04/09/2018 13,343,961 13,343,961 100.00 13,343,961 04/09/2020 284 2.62°%
RBank 2.85% 05/14/2018 2,057,818 2,057,818 100.00 2,057,818 05/14/2020 319 2.85%
Le ac Texas Bank 2.75% 05/15/2018 7,211,749 7,211,749 100.00 7,211,749 05/15/2020 320 2.75%
Independent Bank 2.70% 05/16/2018 5,136,373 5,136,373 100.00 5,136,373 05/16/2020 321 2.70%
Independent Bank 2.95% 06/20/2018 5,149,140 5,149,140 100.00 5,149 140 06/19/2020 355 2.95°%
Independent Bank 2.95°% 07/06/2018 6,645,009 6,645,009 100.00 1 6,645,009 07/08/2020 374 2.95%
Independent Bank 2.70°% 04/09/2019 3,000,000 3,000,000 100.00 3,000,000 07/09/2020 375 2.70%
FFCB 2.68% Aaa/AA+/AAA 08/29/2018 10,000,000 9,996,492 101.02 10,101,610 08/24/2020 421 2.71°%
East West Bank 2.69°% 03/04/2019 5,044,042 5,044,042 100.00 5,044,042 09/04/2020 432 2.69%
East West Bank 2.78% 01/11/2019 4,052,435 4,052,435 100.00 4,052,435 10/12/2020 470 2.78%
FHLB 2.86% Aaa/AA+/- 10/02/2018 6,000,000 5,999,516 101.37 6,082,403 10/15/2020 473 2.87%
Independent Bank 2.65% 05/01/2019 5,167,402 5,167,402 100.00 5,167,402 11/01/2020 490 2.65%
Le ac Texas Bank 3.05°% 11/16/2018 5,089,251 5,089,251 100.00 5,089,251 11/16/2020 505 3.05%
East West Bank 2.70°% 02/20/2019 5,048,686 5,048,686 100.00 5,048,686 11/20/2020 509 2.70%
Le ac Texas Bank 3.05% 12/07/2018 5,076,524 5,076,524 100.00 5,076,524 12/07/2020 526 3.05%
East West Bank 2.78°% 01/11/2019 10,131,088 10,131,088 100.00 10,131,088 01/11/2021 561 2.78%
Ori in Bank 2.82°% 02/12/2019 1 6,242,632 6,242,632 100.00 6,242,632 02/12/2021 593 2.82%
East West Bank 2.71% 02/20/2019 10,602,621 10,602,621 100.00 10,602,621 02/19/2021 600 2.71%
Le ac Texas Bank 2.74% 03/01/2019 2,517,306 2,517,306 100.00 2,517,306 03/0112021 610 2.74%
BOKF,NA 2.00°% 06/27/2019 2,000,000 2,000,000 100.00 2,000,000 06/24/2021 725 2.00%
Sub Total/Average 2.19% 266,227 284 1 266 110,189 100.03 266,309 669 262 2.38%
Page 7.
Valley View Consulting,L.L.C.
Holdings by Allocation and Portfolio Fund June 30, 2019
Coupon Settlement Face Amount( Market Days to YTM
Issuer Rate Credit Rating Date Shares Book Value price Market Value Maturity Date Maturity Book
Fund 170-Interest&Sinking GO Bonds
TexasDAILY 1 2.41% AAArn 04/30/2016 84,666 84,666 100.00 1 84,666 1 N/A 1 1 2.41%
NexBank 2.63% 02/27/2017 8,047,996 8,047,996 100.00 8,047,996 N/A 1 2.63°
TexPool 2.38% AAArn 09/30/2015 197,234 197,234 100.00 197,234 N/A 1 2.38%
East West Bank 2.69% 01/11/2019 7,898,918 7,898,918 100.00 7,898,918 07)11/2019 11 2.69%
Sub Total/Average 2.66% 16,228,813 16,228,813 100.00 16,228,813 6 2.66
Fund 210-Interest&Sinking Debt Service
NexBank 2.63% 02/27/2019 1,010,481 1,010,481 100.00 1,010,481 N/A 11 2.63%
JPMor an Chase 0.72% 09/30/2015 4,790 4,790 100.00 4,790 N/A 1 0.72%
Sub Total I Average 2.62% 1,015,271 1,015,271 100.00 1,015,271 1 2.62%
Fund 459-2018 Bond Fund
TexPool 2.38% AAArn 12/15/2018 1,027,574 1,027,574 100.00 1,027,574 N/A 1 2.38%
Wallis State Bank 2.76% 12/21/2018 3,041,489 3,041,489 100.00 3,041,489 09/23/2019 85 2.76%
R Bank 2.83% 12/26/2018 3,042,160 3,042,160 100.00 3,042,160 09/24/201986 2.83%
Sub Total/Average 2.74% 7,111,223 7,111,223 100.00 7,111,223 73 2.74%
Fund 460-Bond Fund
TexPool 2.38% AAArn 09/30/2015 25,115 25.115 100.00 25,115 N/A 1 2.38%
NexBank 2.63% 11/29/2016 1,568,572 1,568,572 100.00 1,568,572 N/A 1 2.63%
Independent Bank 2.78% 07/06/2018 6,126,087 6,126,087 100.00 6,126,087 07/09/2019 9 2.78%
East West Bank 2.86% 12/07/2018 5,081,359 5,081,359 100.00 5,081,359 12/09/2019 162 2.86%
East West Bank 2.70% 03/04/2019 4,035,365 4,035,365 100.00 4,035,365 03/04/2020 248 2.70%
Sub Total/Average 2.77% 16,836,497 16,836,497 100.00 16,836,497 112 2.77%
Fund 462-2017 Bond Fund
TexPool 2.38% AAArn 05/30/2017 758,447 758,447 100.00 758,447 N/A 1 2.38%
East West Bank 2.38% 03/21/2018 3,092,755 3,092,755 100.00 3,092,755 09/21/2019 83 2.38%
East West Bank 2.86% 12/07/2018 1,524,408 1,524,408 100.00 1,524,408 12/09/2019 162 2.86%
R Bank 2.90% 12/26/2018 2,029,129 2,029,129 100.00 2,029,129 12/26/2019 179 2.90°
Sub Total/Average 2.62% 7,404,739 7,404,739 100.00 7,404,739 117 2.62%
Fund 465-2019 CO Bond Fund
NexBank 2.63% 06/28/2019 13,377 527 13,377,527 100.00 13,377,527 NIA 1 2.63%
TexPool 2.38% AAArn 05/30/2019 24.730 24,730 100.00 24,730 N/A 1 2.38%
RBank 2.55% 06/04/2019 3,000,000 3,000,000 100.00 3,000,000 06/04/2020 340 2.55%
Independent Bank 2.48% 06/05/2019 5,000,000 5,000,000 100.00 5,000,000 06/05/2020 341 2.48%
Independent Bank 2.52% 06/05/2019 4,000,000 4,000,000 100.00 4,000,000 12/05/2020 524 2.520/.
Sub Total/Average 2.57% 25,402,257 25,402,257 100.00 25,402,257 190 2.57%
Fund 591-Reserves Fund
TexPool 2.38% AAArn 1 09/30/2015 8,591 1 8,591 100.00 8,591 N/A 1 1 2.38%
NexBank 2.63% 1 04/29/2019 839,093 1 839,093 100.00 839,093 NIA 1 1 2.63%
Sub Total/Average 2.63% 1 1 847,6841 847,684 1 100.00 1 847,684 11 2.63
Fund 602-Interest&Sinking Revenue Bonds
TexPool 2.38% AAArn 09/30/2015 8,281,243 1 8,281,243 1 100.00 1 8,281,243 N/A 1 11 2.38%
Sub Total/Average 2.38% 8,281,243 8,281,243 100.00 8,281,243 1 2.38%
Fund 863-Drainage Utility Revenue Bond
TexPool 2.38% AAArn 10/31/2015 558,847 558,847 100.00 558.847 N/A 1 11 2.38%
Treasury 1.38% Aaa/AA/AAA 05/15/2019 1,000,000 993,783 99.57 995,703 02/15/2020 230 2.38%
FHLMC 1.38% Aaa/AA+/AAA 05/15/2019 1,500,000 1,487,829 99.47 1,491,996 05/01/2020 306 2.36%
Sub Total 1 Average 1.56% 3,058,847 3,040,459 99.60 3,046,546 225 2.37%
Total/Average 2.29% $ 352 413,869 $ 352 278,376 100.02 1 S 352 483,943 223 2.44%
Valley View Consulting,L.L.C. Page 8.
Book Value Comparison June 30, 2019
Coupon Settlement Maturity Date Beginning Book Total Buys/ Total Sells/ Ending Book Change in Book
Issuer Rate Date Value Increases Decrees es Value Value
Fund 000-Pooled Investments
JPMor an Chase N/A 09/30/2015 N/A $ 5,183,348 $ 2,889,190 $ 1,440,716 $ 6,631,822 $ 1,448,474
TexPool N/A 09/30/2015 N/A 227,277 8,716,145 281,929 8,661,493 8,434,216
TexSTAR N/A 09/30/2015 N/A 196,424 1,179 197,603 1,179
TexasDAILY N/A 09/30/2015 N/A 12,690 77 12,767 77
NexBank N/A 11/29/2016 N/A 11,741,856 64,308 4,183,664 7,622,500 4,119,356
Green Bank N/A 06/09/2016 N/A 41,658 82 41,740 41,658
R Bank 1.74% 10/02/2017 04/02/2019 2,044,049 2,044,049 2,044,049
Lubbock National Bank 1.50% 04/05/2017 04/05/2019 6,174,745 6,174,745 6,174,745
Independent Bank 1.65% 05/01/2017 05/01/2019 5.146,695 5,146,695 5,146,695
Vera Bank 2.39% 05/10/2018 05/09/2019 2,000,000 2,000,000 2,000,000
Austin TX W&WW System Rev 1.93% 01/04/2019 05/15/2019 2,847,513 2,850,000 2,847,513
Texas A&M Univ 1.94% 05/01/2017 05/15/2019 2,051 099 2,050,000 2,051,099
Le ac Texas Bank 2.05% 12/22/2017 06/21/2019 4,130,118 14,162 4,144,280 4,130,118
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 5,150,697 14,644 5,165,341 5,150,697
FHLMC 0.88% 02/28/2018 07/19/2019 9,961,163 9,993,292 32,129
Le ac Texas Bank 1.70% 08/10/2017 08/09/2019 8,217,750 35,263 8,253,013 35,263
R Bank 1.80% 08/10/2017 08/10/2019 2,054,886 9,039 2,063,925 9,039
Le ac Texas Bank 1.70% 08/28/2017 08/28/2019 5,136,094 22,039 5,158,133 22,039
Le ac Texas Bank 2.10% 12/21/2017 09/20/2019 4,106.001 21,772 4,127,773 21,772
JPMor anChase 1.64% 10/02/2017 10/02/2019 14,232,789 14,232,789
Lubbock National Bank 1.65% 10/02/2017 10/02/2019 10,235,838 42,629 10,278,467 42,629
R Bank 1.83% 10/02/2017 10/02/2019 1 2,046,353 9,254 2,055,607 9,254
FNMA 0.00% 10/11/2017 10/09/2019 4,954,005 4,975,805 21.800
REFCORP 0.00% 10/29/2018 10/15/2019 8,376,125 8,433,058 56,932
JPMor anChase 1.98% 11/09/2017 11/09/2019 5,100,375 5,100,375 —
East West Bank 2.67% 02/20/2019 11/20/2019 5,014,651 33,491 5,048,142 33,491
Vera Bank 0.99% 12/05/2016 12/05/2019 245,000 245,000
Le ac Texas Bank 2.20% 12/21/2017 12/20/2019 10,277,784 57,098 10,334,882 57,098
Le ac Texas Bank 2.20% 01/08/2018 01/08/2020 7,693,962 42,744 7.736,705 42,744
East West Bank 2.21% 01/26/2018 01/26/2020 1 10,263,767 56,706 10,320 473 56,706
FFCB 2.07% 02/28/2018 02/14/2020 9,978,681 9,984,743 6,063
JPMor anChase 2.56% 03/21/2018 03/21/2020 5,129,778 5,129,778
Inde endent Bank 2.62% 04/09/2018 04/09/2020 13,258,309 85,652 13,343,961 85,652
R Bank 2.85% 05/14/2018 05/14/2020 2,043,567 14,250 2,057,818 14,250
Le ac Texas Bank 2.75% 05/15/2018 05/15/2020 7,161,991 49,758 7,211,749 49,758
Independent Bank 2.70% 05/16/2018 05/16/2020 5,102,778 33,594 5,136,373 33,594
Independent Bank 2.95% 06/20/2018 06/19/2020 5,111,135 38,004 5,149,140 38,004
Independent Bank 2.95% 07/06/2018 07/08/2020 6,597,022 47,987 6,645,009 47,987
Independent Bank 2.70% 04/09/2019 07/09/2020 3,000,000 3,000,000 3,000,000
FFCB 2.68% 08/29/2018 08/24/2020 9,995,733 9,996,492 758
East West Bank 2.69% 03/04/2019 09/04/2020 5,010,328 33,714 5,044,042 33,714
East West Bank 2.78% 01/11/2019 10/12/2020 4,024,446 27,989 4,052,435 27,989
FHLB 2.86% 10/02/2018 10/15/2020 5,999,423 5,999,516 93
Independent Bank 2.65% 05/01/2019 11/01/2020 5,167,402 5,167,402 5,167,402
Le ac Texas Bank 3.05% 11/16/2018 11/16/2020 5,050,326 38,925 5,089,251 38,925
East West Bank 2.70% 02/20/2019 11/20/2020 5,014,816 33,870 5,048,686 33,870
Le ac Texas Bank 3.05% 12/07/2018 12/07/2020 5,037,697 38,827 5,076,524 38,827
East West Bank 2.78% 01/11/2019 01/11/2021 10,061,115 69,973 10,131,088 69,973
Origin Bank 2.82% 02/12/2019 02/12/2021 6,200,000 42,632 6,242,632 42,632
East West Bank 2.71% 02/20/2019 02/19/2021 10,531,229 71,392 10,602,621 71,392
Le ac Texas Bank 2.74% 03/01/2019 03/01/2021 2,500,000 17,306 2,517,306 17,306
BOKF,NA 2.00% 06/27/2019 06/24/2021 2,000,000 2,000,000 2,000,000
Sub Total/Avera a Fund 000-Pooled Investments 1 278,673,087 22,841,097 35 523,158 266,110,189 12 562,897
Page 9.
Valley View Consulting,L.L.C.
Book Value Comparison June 30, 2019
Coupon Settlement Maturity Date Beginning Book Total Buys/ Total Sells/ Ending Book' Change in Book
Issuer Rate Date Value Increases Decreases Value Value
Fund 170-Interest&Sinking GO Bonds
TexPool N/A 09/30/2015 N/A 92,543 198,111 93,421 197,234 104,690
TexasDAILY N/A 04/30/2016 N/A 84,158 508 84,666 508
NexBank N/A 02/27/2017 N/A 7,049,772 1,545,541 547,317 8,047,996 998,224
RBank 2.75% 12/26/2018 06/26/2019 1,510205 1,510,205 1,510,205
East West Bank 2.69% 01/11/2019 07/11/2019 7,846,122 52,795 7,898,918 52,795
Sub Total/Average Fund 170-Interest&Sinking GO Bonds 16,582,801 1,796,956 2,150,943 16 228,813 353,988
Fund 210-Interest&Sinking Debt Service
NexBank N/A 02127/2019 N/A 1,003,927 6,554 1,010,481 6,554
JPMor an Chase N/A 09130/2015 N/A 4,790 4,790
Sub Total/Average Fund 210-Interest&Sinking Debt Service 1,008,718 6,5541 1 1,015,271 1 6,554
Fund 459-2018 Bond Fund
TexPool N/A 12/15/2018 N/A 1,018,032 9,543 1,027,574 9,543
Wallis State Bank 2.76°/ 12/21/2018 09/23/2019 3,020,446 21,043 3,041,489 21,043
R Bank 2.83% 12/26/2018 09124/2019 3,020,538 21,622 3,042,160 21,622
Sub Total/Average Fund 459-2018 Bond Fund 7,059,016 52,208 7,111,223 52,208
Fund 460-Bond Fund
TexPool N/A 09/30/2015 N/A 644,690 1,953 621,528 25,115 619,575
NexBank WA 11/29/2016 N/A 1,558,398 10,174 1,568,572 10,174
Independent Bank 2.78% 07/06/2018 07/09/2019 6,084,380 41,707 6,126,087 41,707
East West Bank 2.86% 12/07/2018 12/09/2019 5,045,257 36,102 5,081,359 36,102
East West Bank 2.70% 03/04/2019 03/04/2020 4,008,293 27,072 4,035,365 27,072
Sub Total/Average Fund 460-Bond Fund 17 341,018 117,008 621,528 16 836,497 504,521
Fund 462-2017 Bond Fund
TexPool N/A 05/30/2017 N/A 1,310,710 680,121 1,232,384 758,447 552,262
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 1,030,139 2,929 1,033,068 1,030,139
East West Bank 2.38% 03/21/2018 09/21/2019 3,074,458 18,297 3,092,755 18,297
East West Bank 2.86% 12/07/2018 12/09/2019 1,513,577 10,831 1,524,408 10,831
R Bank 2.90% 12/26/2018 12/26/2019 2,014,352 14,777 2,029,129 14,777
Sub Total/Average Fund 462-2017 Bond Fund 8,943,236 726,955 2,265,452 7,404,739 1,538,497
Fund 465-2019 CO Bond Fund
TexPool N/A 05/30/2019 N/A 30,024,730 30,000,000 24,730 24,730
NexBank N/A 06/28/2019 N/A 13,377,527 13,377,527 13,377,527
R Bank 2.55% 06/04/2019 06/04/2020 3,000,000 3,000,000 3,000,000
Independent Bank 2.48% 06/05/2019 06/05/2020 5,000,000 5,000,000 5,000 000
Independent Bank 2.52% 06/05/2019 12/05/2020 4,000,000 - 4,000,000 4,000,000
Sub TotallAvera a Fund 465-2019 CO Bond Fund 55,402,257 30,000,000 25,402,257 25,402,257
Fund 591-Reserves Fund
TexPool N/A 09/30/2015 N/A 8,540 51 8,591 51
NexBank N/A 04/29/2019 N/A 839,093 839,093 839,093
Green Bank N/A 06/09/2016 N/A 832,010 1,640 833,650 832,010
Sub Total/Average Fund 591-Reserves Fund 840,550 840,784 833,650 847,684 7,134
Fund 602-Interest&Sinking Revenue Bonds
TexPool N/A 09/30/2015 N/A 1,649,049 6,633,693 1,500 8,281,243 6,632,193
East West Bank 2.73% 12/07/2018 06/07/2019 3,530,233 3,530,233 3,530,233
Sub Total/Average Fund 602-Interest&Sinking Revenue Bonds 5,179,283 6,633 693 3,531,733 8,281 243 3,101,960
Fund 863-Drainage Utility Revenue Bond
TexPool N/A 10/31/2015 N/A 775,742 252,353 469,248 558,847 216,895
R Bank 2.63% 05/14/2018 05/14/2019 3,060,256 3,060,256 3,060,256
Treasury 1.38% 05/15/2019 02/15/2020 995,920 993,783 993,783
FHLMC 1.38% 05/15/2019 05/01/2020 1,486,801 1,487,829 1,487,829
Page 10.
Valley View Consulting,L.L.C.
Book Value Comparison June 30, 2019
Coupon Settlement Maturity Date Beginning Book Total Buys/ Total Sellsl Ending Book Change in Book
Issuer Rate Date Value Increases Decreases Value Value
Sub Total/Average Fund 863-Drainage Utility Revenue Bond 3,835,999 2,735,074 3,529,505 3,040,459 795,540
Total/Average $ 339,463,706 $ 91,152,585 $ 78,455,969 $ 352,278,376 $ 12,814,669
Page 11.
Valley View Consulting,L.L.C.
Market Value Comparison June 30, 2019
Coupon Settlement Beginning Market Total Buys/ Total Sells/ Ending Market Change in Market
Issuer Rate Date Maturity Date Value Increases Decreases Value Value
Fund 000-Pooled Investments
JPMor an Chase N/A 09/30/2015 N/A $ 5,183,348 $ 2,889,190 $ 1,440,716 $ 6,631,822 $
TexPool N/A 09/30/2015 N/A 227,277 8,716,145 281,929 8,661,493
TexSTAR N/A 09/30/2015 N/A 196,424 1,179 197,603
TexasDAILY N/A 09/30/2015 N/A 12,690 77 12,767
NexBank N/A 11/29/2016 N/A 11,741,856 64,308 4,183,664 7,622,500
Green Bank N/A 06/09/2016 N/A 41,658 82 41,740
R Bank 1.74% 10/02/2017 04/02/2019 2,044,049 2,044,049
Lubbock National Bank 1.50% 04/05/2017 04/05/2019 6,174,745 671747745
Inde endent Bank 1.65% 05/01/2017 05/01/2019 5,146,695 5,146,695
Vera Bank 2.39% 05/10/2018 05/09/2019 2,000,000 2,000,000
Austin TX W&WW System Rev 1.93% 01/04/2019 05/15/2019 2,847,777 2,850,000 2,223
Texas A&M Univ 1.94% 05/01/2017 05/15/2019 2,048,606 2,050,000 1,394
Le ac Texas Bank 2.05% 12/22/2017 06/21/2019 4,130,118 14,162 4,144,280
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 5,150,697 14,644 5,165,341
FHLMC 0.88% 02/28/2018 07/19/2019 1 9,949,561 9,989,643 40,082
Le ac Texas Bank 1.70% 08/10/2017 08/09/2019 8,217,750 35,263 8,253,013
RBank 1.80% 08/10/2017 08/10/2019 2,054,886 9,039 2,063,925
Le ac Texas Bank 1.70% 08/28/2017 08/28/2019 5,136,094 22,039 5,158,133
Le ac Texas Bank 2.10% 12/21/2017 09/20/2019 4,106,001 21,772 4,127,773
JPMor anChase 1.64% 10/02/2017 10/02/2019 14,232,789 14,232,789
Lubbock National Bank 1.65% 10/02/2017 10/02/2019 10,235,838 42,629 10,278,467
R Bank 1.83% 10/02/2017 10/02/2019 2,046,353 9,254 2,055,607
FNMA 0.00% 10/11/2017 1 10/09/2019 4,935,250 4,970,000 34,750
REFCORP 0.00% 10/29/2018 10/15/2019 8,386,525 8,445,940 59,415
JPMor anChase 1.98% 11/09/2017 11/09/2019 5,100,375 — 5,100,375 —
East West Bank 2.67% 02/20/2019 11/20/2019 5,014,651 33,491 5,048,142
Vera Bank 0.99% 12/05/2016 12/05/2019 245,000 245,000
Le ac Texas Bank 2.20% 12/21/2017 12/20/2019 10,277,784 57,098 10,334,882
Le ac Texas Bank 2.20% 01/08/2018 01/08/2020 7,693,962 42,744 7,736,705
East West Bank 2.21% 01/26/2018 01/26/2020 10,263,767 56,706 10,320 473
FFCB 2.07% 02/28/2018 02/14/2020 9,959,736 9,992,789 33,053
JPMor anChase 2.56% 03/21/2018 03/21/2020 5,129,778 5,129,778
Independent Bank 2.62% 04/09/2018 04/09/2020 13,258,309 85,652 13,343,961
R Bank 2.85% 05/14/2018 05/14/2020 2,043,567 14,250 2,057,818
Le ac Texas Bank 2.75% 05/15/2018 05/15/2020 7,161,991 49,758 7,211,749
Independent Bank 2.70% 05/16/2018 05/16/2020 5,102,778 33,594 5,136,373
Inde endent Bank 2.95% 06/20/2018 06/19/2020 5,111,135 38,004 5,149,140
Independent Bank 2.95% 07/06/2018 07/08/2020 6,597,022 47,987 6,645,009
Independent Bank 2.70% 04/09/2019 07/09/2020 3,000,000 3,000,000
FFCB 2.68% 08/29/2018 08/24/2020 10,050,741 10,101,610 50,869
East West Bank 2.69% 03/04/2019 09/04/2020 5,010,328 33,714 5,044,042
East West Bank 2.78% 01/11/2019 10/12/2020 4,024,446 27,989 4,052,435
FHLB 2.86% 10/02/2018 10/15/2020 6,048,871 6,082,403 33,533
Independent Bank 2.65% 05/01/2019 11/01/2020 5,167,402 5,167,402
Le ac Texas Bank 3.05% 11/16/2018 11/16/2020 5,050,326 38,925 5,089,251
East West Bank 2.70% 02/20/2019 11/20/2020 5,014,816 33,870 5,048,686
Le ac Texas Bank 3.05% 12/07/2018 12/07/2020 5,037,697 38,827 5,076,524
East West Bank 2.78% 01/11/2019 01/11/2021 10,061,115 69,973 10,131,088
Origin Bank 2.82% 02/12/2019 02/12/2021 6,200,000 42,632 6,242,632
East West Bank 2.71% 02/20/2019 02/19/2021 10,531,229 71,392 10,602,621
OTexas Bank 2.74% 03/01/2019 03/01/2021 2,500,000 17,306 2,05017306
A 0,N 2.00% 06/27/2019 06/24/2021 2,000,000 2000
Sub Total/Average Fund 000-Pooled Investments 278,736,411 22,841,097 35,523,158 266,309,669 1 255,319
Page 12.
Valley View Consulting,L.L.C.
Market Value Comparison June 30, 2019
Coupon Settlement Beginning Market Total Buys/ Total Sells/ Ending Market Change in Market
Issuer Rate Date Maturity Date Value Increases Decreases Value Value
Fund 170-Interest&Sinking GO Bonds
TexPool N/A 09/30/2015 N/A 92,543 198,111 93,421 197,234
TexasDAILY N/A 04/30/2016 N/A 84,158 508 84,666
NexBank N/A 02/27/2017 N/A 7,049,772 1,545,541 547,317 8,047,996
R Bank 2.75% 12/26/2018 06/26/2019 1,510,205 1,510,205
East West Bank 2.69% 01/11/2019 07/11/2019 7,846,122 52,795 7,898,918
Sub Total/Average Fund 170-Interest&Sinking GO Bonds 16,582,801 1,796,956 2,150,943 16,228,813
Fund 210-Interest&Sinking Debt Service
NexBank N/A 02/27/2019 N/A 1 1,003,927 6,554 1,010,481
JPMor an Chase N/A 09/30/2015 N/A 1 4,790 4,790
Sub Total/Average Fund 210-Interest&Sinking Debt Service 1,008,718 6,554 1,015,271
Fund 459-2018 Bond Fund
TexPool N/A 12/15/2018 N/A 1,018,032 9,543 1,027,574
Wallis State Bank 2.76% 12/21/2018 09/23/2019 3,020,446 21,043 3,041,489
R Bank 2.83% 12/26/2018 09/24/2019 3,020,538 21,622 3,042,160
Sub Total/Average Fund 459-2018 Bond Fund 7,059,016 52,208 7,111,223
Fund 460-Bond Fund
TexPool N/A 09/30/2015 N/A 644,690 1,953 621,528 25,115
NexBank N/A 11/29/2016 NIA 1,558,398 10,174 1,568,572
Inde endent Bank 2.78% 07/06/2018 07/09/2019 6,084,380 41,707 - 6,126,087
East West Bank 2.86% 12/07/2018 12/09/2019 5,045,257 36,102 5,081,359
East West Bank 2.70% 03/04/2019 03/04/2020 4,008,293 27,072 4,035,365
Sub Total/Average Fund 460-Bond Fund 17,341,018 117,008 621,628 16,836,497
Fund 462-2017 Bond Fund
TexPool N/A 05/30/2017 N/A 1,310,710 680,121 1,232,384 758,447
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 1,030,139 2,929 1,033 068
East West Bank 2.38% 03/21/2018 09/21/2019 3,074,458 18,297 3,092,755
East West Bank 2.86% 12/07/2018 12/09/2019 1,513,577 10,831 1,524,408
R Bank 2.90% 12/26/2018 12/26/2019 2,014,352 14,777 2,029,129
Sub Total/Average Fund 462-2017 Bond Fund 8,943,236 726,955 2,265,452 7,404,739
Fund 465-2019 CO Bond Fund
TexPool N/A 05/30/2019 N/A 30,024,730 30,000,000 24,730
NexBank N/A 06/28/2019 N/A 13,377,527 13,377,527
R Bank 2.55% 06/04/2019 06/04/2020 3,000,000 3,000,000
Independent Bank 2.48% 06/05/2019 06/0512020 5,000,000 5,000,000
Independent Bank 2.52% 06/05/2019 12/05/2020 4,000,000 - 4,000,000 -
Sub Total/Average Fund 465-2019 CO Bond Fund 55,402,257 30,000,000 25,402,257
Fund 591-Reserves Fund
TexPool N/A 09/30/2015 N/A 8,540 51 8,591
NexBank N/A 04/29/2019 N/A 839,093 839,093
Green Bank N/A 06/09/2016 N/A 832,010 1,640 833,650
Sub Total/Average Fund 591-Reserves Fund 840,550 840,784 833,650 847,684
Fund 602-Interest&Sinking Revenue Bonds
TexPool N/A 09/30/2015 N/A 1,649,049 6,633,693 1,500 8,281,243
East West Bank 2.73% 12107/2018 1 06/07/2019 3,530,233 3,530,233
Sub Total/Average Fund 602-Interest&Sinking Revenue Bonds 5,179,283 6,633,693 3,531,733 8,281,243
Fund 863-Drainage Utility Revenue Bond
TexPool N/A 10/31/2015 N/A 775,742 252,353 469,248 558,847
R Bank 2.63% 05/14/2018 05/14/2019 3,060,256 3,060,256
Treasury 1.38% 05/15/2019 02/15/2020 995,920 995,703 3,164
FHLMC 1.38% 05/15/2019 05/01/2020 1,486,801 1,491,996 5,997
Page 13.
Valley View Consulting,L.L.C.
Market Value Comparison June 30, 2019
Coupon Settlement Maturity Date Beginning Market Total Buys/ Total Sells/ Ending Market Change in Market
Issuer Rate Date Value Increases Decreases Value Value
Sub Total/Average Fund 863-Drainage Utility Revenue Bond 3,835,999 2,735,074 3,529,505 31046,546 9,161
Total/Avera e $ 339,527,031 $ 91,152,585 $ 78,455,969 $ 352,483,943 $ 264,480
Page 14.
Valley View Consulting, L.L.C.
Holdings by Allocation and Portfolio Fund March 31, 2019
CouponSettlement Face Amount/ Market Days to YTM @
Issuer Rate Credit Rating Date Shares Book Value Price Market Value Maturity Date Maturity Book
Fund 000-Pooled Investments
NexBank 2.66% 11/29/2016 $ 11,741,856 $ 11,741,856 100.00 $ 11,741,856 N/A 1 2.66%
Green Bank 2.56% 06/09/2016 41,658 41,658 100.00 41,658 N/A 1 2.56%
JPMor an Chase 0.53% 09/30/2015 5,183,348 5,183,348 100.00 5,183,348 N/A 1 0.53%
TexSTAR 2.41% AAAm 09/30/2015 196,424 196,424 100.00 196,424 N/A 1 2.41%
TexPool 2.42% AAAm 09/30/2015 227,277 227,277 100.00 227,277 N/A 1 2.42%
TexasDAILY 2.41% AAAm 09/30/2015 12,690 12,690 100.00 12,690 N/A 1 2.41%
R Bank 1.74% 10/02/2017 2,044,049 2,044,049 100.00 2,044,049 04/02/2019 2 1.747/67-
Lubbock
.74%Lubbock National Bank 1.50% 04/05/2017 6,174,745 6,174,745 100.00 6,174,745 04/05/2019 5 1.50%
Independent Bank 1.65% 05/01/2017 5,146,695 5,146,695 100.00 5,146,695 05/01/2019 311 1.65°%
Union State Bank 2.39% 05/10/2018 2,000,000 2,000,000 100.00 2,000,000 05/09/2019 39 2.39%
Texas A&M Univ 1.94% Aaa/AAA/AAA 05/01/2017 2,050,000 2,051,099 99.93 2,048,606 05/15/2019 45 1.50%
Austin TX W&WW System Rev 1.93°% Aa2/AA/AA- 01/04/2019 2,850,000 2,847,513 99.92 2,847,777 05/15/2019 45 2.63%
Le ac Texas Bank 2.05% 12/22/2017 4,130,118 4,130,118 100.00 4,130,118 06/21/2019 82 2.0577
Le ac Texas Bank 1.70% 06/23/2017 5,150,697 5,150,697 100.00 5,150,697 06/24/2019 85 1.70%
FHLMC 0.88% Aaa/AA+/AAA 02/28/2018 %000,000 9,961,163 99.50 9,949,561 07/19/2019 110 2.19%
Le ac Texas Bank 1.70% 08/10/2017 8,217,750 8,217,750 100.00 8,217,750 08/09/2019 131 1.70%
R Bank 1.80°% 08/10/2017 2,054,886 2,054,886 100.00 2,054,886 08/10/2019 132 1.80%
Le ac Texas Bank 1.70°% 08/28/2017 5,136,094 5,136,094 100.00 5,136,094 08/28/2019 150 1.70%
Le ac Texas Bank 2.10% 12/21/2017 4,106,001 4,106,001 100.00 4,106,001 09/20/2019 173 2.10%
JPMor anChase 1.64°% 10/02/2017 14,232,789 14,232,789 100.00 14,232,789 10/02/2019 185 1.64%
Lubbock National Bank 1.65°% 10/02/2017 10,235,838 10,235,838 100.00 10,235,838 10/02/2019 185 1.65%
RBank 1.83% 10/02/2017 2,046,353 2,046,353 100.00 2,046,353 10/02/2019 185 1.83%
FNMA 0.00% -/AA/AA- 10/11/2017 5,000,000 4,954,005 98.71 4,935,250 10/09/2019 192 1.79%
REFCORP 0.00% -/AA/- 10/29/2018 8,500,000 8,376,125 98.67 8,386,525 10/15/2019 1981 2.74°%
JPMor anChase 1.98% 11/09/2017 5,100,375 5,100,375 100.00 5,100,375 11/09/2019 223 1.98°%
East West Bank 2.67% 02/20/2019 5,014,651 5,014,651 100.00 5,014,651 11/20/2019 234 2.67%
Union State Bank 0.99% 12/05/2016 245,000 245,000 100.00 245,000 12/05/2019 249 0.99%
Le ac Texas Bank 2.20°% 12/21/2017 10,277,784 10,277,784 100.00 10,277 784 12/20/2019 264 2.20%
Le ac Texas Bank 2.20°% 01/08/2018 7,693,962 7,693,962 100.00 7,693,962 01/08/2020 283 2.20%
East West Bank 2.21°% 01/26/2018 10,263,767 10,263,767 100.00 10,263,767 01/26/2020 301 2.21°%
FFCB 2.07% Aaa/AA+/AAA 02/28/2018 10,000,000 9,978,681 99.60 9,959,736 02/14/2020 320 2.32%
JPMor anChase 2.56% 03/21/2018 5,129,778 5,129,778 100.00 5,129,778 03/21/2020 356 2.56%
Independent Bank 2.62°% 04/09/2018 13,258,309 13,258,309 100.00 13,258,309 04/09/2020 375 2.62%
R Bank 2.85% 05/14/2018 2,043,567 2,043,567 100.00 2,043 567 05/14/2020 410 2.85°%
Le ac Texas Bank 2.75% 05/15/2018 7,161,991 7,161,991 100.00 7,161,991 05/15/2020 411 2.75%
Independent Bank 2.70% 05/16/2018 5,102,778 5,102,778 100.00 5,102,778 05/16/2020 412 2.70%
Independent Bank 2.95% 06/20/2018 5,111,135 5,111,135 100.00 5,111,135 06/19/2020 446 2.95%
Inde endent Bank 2.95% 07/06/2018 6,597,022 6,597,022 100.00 6,597,022 07/08/2020 465 2.95%
FFCB 2.68% Aaa/AA+/AAA 08/29/2018 10,000,000 9,995,733 100.51 10,050,741 08/24/2020 512 2.71%
East West Bank 2.69% 03/04/2019 5,010,328 5,010,328 100.00 5,010,328 09/04/2020 523 2.69°%
East West Bank 2.78% 01/11/2019 4,024,446 4,024,446 100.00 4,024,446 10/12/2020 561 2.78%
FHLB 2.86°% Aaa/AA+/- 10/02/2018 6,000,000 5,999,423 100.81 6,048,871 10/15/2020 564 2.87%
Le ac Texas Bank 3.05°% 11/16/2018 5,050,326 5,050,326 100.00 5,050,326 11/16/2020 596 3.05%
East West Bank 2.70% 02/20/2019 5,014,816 5,014,816 100.00 5,014,816 11/20/2020 600 2.70%
Le ac Texas Bank 3.05% 12/07/2018 5,037,697 5,037,697 100.00 5,037,697 12/07/2020 617 3.05%
East West Bank 2.78°% 01/11/2019 10,061,115 10,061,115 100.00 10,061,115 01/11/2021 652 2.78%
Origin Bank 2.82% 02/12/2019 6,200,000 6,200,000 100.00 6,200,000 02/12/2021 684 2.82%
East West Bank 2.71% 02/20/2019 10,531,229 10,531,229 100.00 10,531,229 02/19/2021 691 2.71%
Le ac Texas Bank 2.74% 03/01/2019 2,500,000 2,500,000 100.00 2,500,000 03/01/2021 701 2.74%
Sub Total I Average 2.14% 278,809,344 278,673,087 99.94 278,738,411 311 2.32%
Page 15.
Valley View Consulting,L.L.C.
Holdings by Allocation and Portfolio Fund March 31, 2019
Coupon Settlement Face Amount/ Market Days to YTM
Issuer Rate Credit Rating Date Shares Book Value price Market Value Maturity Date Maturity Book
Fund 170-Interest&Sinking GO Bonds
TexasDAILY 2.41% AAArn 04/30/2016 84,158 84,158 100.00 84,158 N/A 1 2.41%
NexBank 2.66% 02/27/2017 7,049,772 7,049,772 100.00 7,049,772 N/A i2.66%
TexPool 2.42% AAArn09/30/2015 92,543 92,543 100.00 92,543 N/A 1 2.42%
R Bank 2.75% 12/26/2018 1,510,205 1,510,205 100.00 1,510,205 06/26/2019 87 2.75%
East West Bank 2.69% 01/11/2019 7,846,122 7,846,122 100.00 71846,122 07/11/2019 102 2.69%
Sub Total I Average 2.68% 16,582,801 16 582,801 100.00 16,582,801 57 2.68%
Fund 210-Interest&Sinking Debt Service
NexBank 1 2.66% 02/27/2019 1,003,927 1,003,927 100.00 1,003,927 N/A 11 2.660
JPMor an Chase 1 0.53% 09/30/2015 4,790 4,790 100.00 4,790 N/A 11 0.53%
Sub Total/Average 1 2.65% 1 1 1,008,7181 1,008,718 1 100.001 1,008 718 1 1 2.65
Fund 459-2018 Bond Fund
TexPool 2.42% AAArn 12/15/2018 1,018,032 1,018,032 100.00 1,018,032 N/A 1 2.42%
Wallis State Bank 2.76% 12/21/2018 3,020,446 3,020,446 100.00 3,020,446 09/23/2019 176 2.76%
R Bank 2.83% 12/26/2018 3,020,538 3,020,538 100.00 3,020,538 09/24/2019 177 2.83%
Sub Total I Average 2.74% 7,059,016 7,059,016 100.00 7,059,016 151 2.74%
Fund 460-Bond Fund
TexPool 2.42% AAArn 09/30/2015 644,690 644,690 100.00 644,690 NIA 1 2.42%
NexBank 2.66% 11/29/2016 1,558,398 1,558,398 100.00 1,558,398 N/A 1 2.66%
Independent Bank 2.78% 07/06/2018 6,084,380 6,084,380 100.00 6,084,380 07/09/2019 100 2.78%
East West Bank 2.86% 12/07/2018 5,045,257 5,045,257 100.00 5,045,257 12/09/2019 253 2.86%
East West Bank 2.70% 03/04/2019 4,008,293 4,008,293 100.00 4,008,293 03/04/2020 339 2.70%
Sub Total/Average 2.76% 17,341,018 17,341,018 100.00 17,341,018 187 2.76%
Fund 462-2017 Bond Fund
TexPool 2.42% AAArn 05/30/2017 1,310,710 1,310,710 100.00 1,310,710 N/A 1 2.42%
Le ac Texas Bank 1.70°% 06/23/2017 1,030,139 1,030,139 100.00 1,030 139 06/24/2019 85 1.70%
East West Bank 2.38°% 03/21/2018 3,074,458 3,074,458 100.00 3,074,458 09/21/2019 174 2.38%
East West Bank 2.86°% 12/07/2018 1,513,577 1,513,577 100.00 1,513,577 12/09/2019 253 2.86%
R Bank 2.90% 12/26/2018 2,014,352 2,014,352 100.00 2,014,352 12/26/2019 270 2.90%
Sub Total/Average 2.51% 8,943 236 8,943,236 100.00 8,943,236 173 2.51%
Fund 591-Reserves Fund
Green Bank 2.56% 1 06/09/2016 832,010 1 832,010 100.00 832,010 N/A 1 2.56°%
TexPool 2.42% 1 AAArn 09/30/2015 8,540 1 8,540 100.00 8,540 N/A 1 2.42%
Sub Total I Average 2.56°% 840,550 1 840,550 1 100.001 840,560 1 1 2.56%
Fund 602-Interest&Sinking Revenue Bonds
TexPool 2.42% 1 AAArn 09/30/2015 1 1,649,0491 1,649,0491 100.001 1,649,049 N/A 1 2.42%
East West Bank 2.73% 1 12/07/2018 1 3,530,233 1 3,530,233 1 100.00 1 3,530,233 1 06/07/2019 1 681 2.73%
Sub Total I Average 2.63% 5,179,283 1 5,179,283 1 100.00 1 5,179,283 1 471__2.63%
Fund 863-Drainage Utility Revenue Bond
TexPool 2.42% AAArn10/31/2015 775,742 775,742 100.00 775,742 N/A 1 2.42%
R Bank 2.63% 05/14/2018 3,060,256 3,060,256 100.00 3,060,256 05/14/2019 44 2.63%
Sub Total/Average 2.59% 3,835,999 3,835,999 100.00 3,835,999 35 2.59
Total/Average 2.24% $ 339,699,964 $ 339,463 706 99.95 $ 339 527,031 276 2.38%
Page 16.
Valley View Consulting,L.L.C.
Book Value Comparison March 31, 2019
Coupon Settlement Beginning Book Total Buys! Total S.1 1.1 Ending Book Change in Book
Issuer Rate Date Maturity pate Value Increases Decreases Value Value
Fund 000-Pooled Investments
JPMor an Chase N/A 09/30/2015 N/A $ 8,968,657 $ $ 3,785,309 $ 5,183,348 $ 3,785,309
TexPool N/A 09/30/2015 N/A 23,574,832 69,578 23,417,133 227,277 23,347,555
TexSTAR N/A 09/30/2015 N/A 195,266 1,159 196,424 1,159
TexasDAILY N/A 09/30/2015 N/A 12,615 75 12,690 75
NexBank N/A 11/29/2016 N/A 1,682,239 10,059,617 11,741,856 10,059,617
Green Bank N/A 06/09/2016 N/A 41,393 264 41,658 264
Lubbock National Bank 1.45% 01/11/2017 01/11/2019 10,281,404 10,281,404 10,281,404
Galveston Texas 6.21% 01/08/2018 02/01/2019 1,234,454 1,230,000 1,234,454
Tomball TX CO's 5.00% 12/20/2016 02/15/2019 778,445 775,000 778,445
Le ac Texas Bank 1.40% 02/17/2017 02/19/2019 9,753,107 11,589 9,764,696 9,753,107
Corpus Christi-Ref 1.81% 03/14/2016 03/01/2019 2,251,566 2,250,000 2,251,566
Lubbock National Bank 1.45% 03/01/2017 03/01/2019 5,641,790 13,655 5,655,445 5,641,790
R Bank 1.74% 10/02/2017 04/02/2019 2,035,104 8,945 2,044,049 8,945
Lubbock National Bank 1.50% 04/05/2017 04/05/2019 6,151,963 22,782 6,174,745 22,782
Independent Bank 1.65% 05/01/2017 05/01/2019 5,125,379 21,316 5,146,695 21,316
Union State Bank 2.39% 05/10/2018 05/09/2019 2,000,000 2,000,000
Austin TX W&WW System Rev 1.93% 01/04/2019 05/15/2019 2,850,259 2,847,513 2,847,513
Texas A&M Univ 1.94% 05/01/2017 05/15/2019 2,053,296 2,051,099 2,197
Le ac Texas Bank 2.05% 12/22/2017 06/21/2019 4,109,312 20,807 4,130,118 20,807
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 5,129,166 21,530 5,150,697 21,530
FHLMC 0.88% 02/28/2018 07/19/2019 9,929,387 9,961,163 31,776
Le ac Texas Bank 1.70% 08/10/2017 08/09/2019 8,183,400 34,351 — 8,217,750 34,351
RBank 1.80% 08/10/2017 08/10/2019 2,045.585 9,302 2,054,886 9,302
Le ac Texas Bank 1.70% 08/28/2017 08/28/2019 5,114,625 21,469 5,136,094 21,469
Le ac Texas Bank 2.10% 12/21/2017 09/20/2019 4,084,813 21,188 4,106,001 21.188
JPMor anChase 1.64% 10/02/2017 10/02/2019 14,232,789 14,232,789
Lubbock National Bank 1.65% 10/02/2017 10/02/2019 10,194,307 41,532 10,235,838 41,532
R Bank 1.83% 10/02/2017 10/02/2019 2,036,936 9,417 2,046,353 9,417
FNMA 0.00% 10/11/2017 10/09/2019 4,932,445 4,954,005 21,560
REFCORP 0.00% 10/29/2018 10/15/2019 1 8,319 818 8,376,125 56 307
JPMor anChase 1.98% 11/09/2017 11/09/2019 5,100,375 5,100.375
East West Bank 2.67% 02/20/2019 11/20/2019 5,014,651 5,014,651 5,014,651
Union State Bank 0.99% 12/05/2016 12/05/2019 245,000 245,000
Le ac Texas Bank 2.20% 12/21/2017 12/20/2019 10,222,232 55,552 10,277,784 55,552
Le ac Texas Bank 2.20% 01/08/2018 01/08/2020 7,652,375 41,587 7,693,962 41,587
East West Bank 2.21% 01/26/2018 01/26/2020 10,207,990 55,777 10,263,767 55,777
FFCB 2.07% 02/28/2018 02/14/2020 9,972,684 9,978,681 5,996
JPMor anChase 2.56% 03/21/2018 03/21/2020 5,000,000 129,778 5,129,778 129,778
Independent Bank 2.62% 04/09/2018 04/09/2020 13,171,327 86,981 13,258,309 86,981
R Bank 2.85% 05/14/2018 05/14/2020 2,028,941 14,627 2,043,567 14,627
Le ac Texas Bank 2.75% 05/15/2018 05/15/2020 7,113,646 48,345 7,161,991 48,345
Independent Bank 2.70% 05/16/2018 05/16/2020 5,068,286 34,492 5,102,778 34,492
Independent Bank 2.95% 06/20/2018 06/19/2020 5,074,225 36,910 5,111,135 36,910
Independent Bank 2.95% 07/06/2018 07/08/2020 6,548,332 48,691 6,597,022 48,691
FFCB 2.68% 08/29/2018 08/24/2020 9,994,983 9,995,733 750
East West Bank 2.69% 03/04/2019 09/04/2020 5,010,328 5,010,328 5,010,328
East West Bank 2.78% 01/11/2019 10/12/2020 4,024,446 4,024,446 4,024,446
FHLB 2.86% 10/02/2018 10/15/2020 51999,331 5,999,423 92
Le ac Texas Bank 3.05% 11/16/2018 11/16/2020 5,012,534 37,791 5,050,326 37,791
East West Bank 2.70% 02/20/2019 11/20/2020 5,014,816 5,014,816 5,014,816
Le ac Texas Bank 3.05% 12/07/2018 12/07/2020 5,000,000 37,697 5,037,697 37,697
East West Bank 2.78% 01/11/2019 01/11/2021 10,061,115 10,061 115 10,061,115
Origin Bank 2.82% 02/12/2019 02/12/2021 6,200,000 6,200,000 6,200,000
East West Bank 2.71% 02/20/2019 02/19/2021 10,531,229 10,531,229 10,531,229
Le ac Texas Bank 2.74°% 03/01/2019 1 03/01/2021 2,500,000 2,500,000 2,500,000
Sub Total/Average Fund 000-Pooled Investments 273,506,354 1 62,223,648 1 57,158,988 278,673,087 5,166,733
Page 17.
Valley View Consulting,L.L.C.
Book Value Comparison March 31, 2019
Coupon Settlement Beginning Book Total Buys/ Total Sells/ Ending Book Change in Book
Issuer Rate Date Maturity Date Value Increases Decreases Value Value
Fund 170-Interest&Sinking GO Bonds
TexPool N/A 09/30/2015 N/A 2.244,383 13,417 2.165,256 92,543 2,151.840
TexasDAILY N/A 04/30/2016 N/A 2.476.905 7,253 2,400,000 84.158 2.392,747
NexBank N/A 02/27/2017 N/A 25,555 7,024,217 7,049,772 7.024,217
RBank 2.75% 12/26/2018 06/26/2019 1,500,000 10,205 — 1.510.205 10,205
East West Bank 2.69% 01/11/2019 07/11/2019 7.846,122 — 7.846.122 7.846 122
Sub Total/Average Fund 170-Interest&Sinking GO Bonds 6,246,843 14,901,214 4,565,256 16,582,801 10,335,958
Fund 210-Interest&Sinking Debt Service
NexBank N/A 02/27/2019 N/A — 1,003,927 1.003 927 1.003,927
JPMor an Chase N/A 09/30/2015 N/A 4.790 — 4 790
Sub Total/Average Fund 210-Interest&Sinking Debt Service 4,790 1,003,927 — 1,008,718 1,003,927
Fund 459-2018 Bond Fund
TexPool N/A 12/15/2018 N/A 1,013.509 6,508 1.985 1,018,032 4.522
Wallis State Bank 2.76% 12/21/2018 09/23/2019 3,000,000 20,446 — 3,020,446 20.446
R Bank 2.83% 12/26/2018 09/24/2019 3.000,000 20,538 — 3,020.538 20.538
Sub Total/Average Fund 459-2018 Bond Fund 7,013,509 47,492 1,985 7,059,016 45,507
Fund 460-Bond Fund
TexPool N/A 09/30/2015 N/A 63.070 760,191 178,571 644,690 581.620
NexBank N/A 11/29/2016 N/A 1,538,945 4,019,453 4,000,000 1.558,398 19,453
East West Bank 2.16% 04/09/2018 01/09/2019 5.079,628 5,079,628 — 5,079.628
Inde endentBank 2.78% 07/06/2018 07/09/2019 6.042.043 42,337 — 6.084.380 42.337
East West Bank 2.86% 12/07/2018 12/09/2019 5.009.804 35,453 5,045,257 35,453
East West Bank 2.70% 03/04/2019 03/04/2020 4.008,293 — 4.008.293 4,008.293
Sub Total/Average Fund 460-Bond Fund 17,733,489 8,865,727 9,258,199 17,341,018 392,471
Fund 462-2017 Bond Fund
TexPool N/A 05/30/2017 N/A 898,352 412.358 1,310,710 412.358
Le ac Texas Bank 1.65% 06/23/2017 03/22/2019 1,025,065 2,875 1,027,940 — 1.025.065
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 1.025,833 4.306 11030.139 4,306
East West Bank 2.38% 03/21/2018 09/21/2019 3.056,469 17,989 3,074,458 17.989
East West Bank 2.86% 12/07/2018 12/09/2019 1,502,941 10,636 1,513,577 10.636
RBank 2.90% 12/26/2018 12/26/2019 2.000.000 14.352 — 2,014,352 14.352
Sub Total/Average Fund 462-2017 Bond Fund 9,508,660 462,516 1,027,940 8,943 236 565,424
Fund 591-Reserves Fund
TexPool N/A 09/30/2015 N/A 1 8,489 1 50 1 — 8.540 50
Green Bank N/A 06/09/2016 N/A 826,730 5 280 — 832.010 5.280
Sub TotallAvera a Fund 591-Reserves Fund 835,220 5,330 — 840,550 5,330
Fund 602-Interest&Sinking Revenue Bonds
TexPool N/A 09/30/2015 N/A 3.989.335 16,314 2,356,599 1.649,049 2,340,286
East West Bank 2.73% 12/07/2018 06/07/2019 3.506.550 23,683 — 3,530.233 23,683
Sub Total/Average Fund 602-Interest&Sinking Revenue Bonds 7,495,885 39,997 2,356,599 1 5,179,283 2,316,603
Fund 863-Drainage Utility Revenue Bond
TexPool N/A 10/31/2015 N/A — 887.377 111,635 775.742 775,742
Southside Bank 1.88% 01/08/2018 01/08/2019 1.521.191 — 1.521.191 1.521.191)
RBank 2.63% 05/14/2018 05/14/2019 3,040.038 20,219 — 3,060,256 20,219
Sub TotallAvera a Fund 863-Drain a a Utility Revenue Bond 4,561,229 907,596 1,632,826 3,835,999 725,230
Total/Average $ 326,905,980 $ 88,457,447 $ 76,001,792 $ 339,463,706 $ 12,557,727
Page 18,
Valley View Consulting, L.L.C.
Market Value Comparison March 31, 2019
Coupon Settlement Beginning Market Total Buys/ Total Sells/ Ending Market Change in Market
Issuer Rate Date Maturity Date Value Increases Decreases Value Value
Fund 000-Pooled Investments
JPMor an Chase N/A 09/30/2015 N/A $ 8,968,657 $ $ 3,785,309 $ 5,183,348 $
TexPool NIA 09/30/2015 N/A 23,574,832 69,578 23,417,133 227,277
TexSTAR N/A 09/30/2015 N/A 195,266 1,159 196,424
TexasDAILY N/A 09/30/2015 N/A 12,615 75 12,690
NexBank N/A 11/29/2016 N/A 1,682,239 10,059,617 11,741,856
Green Bank N/A 06/09/2016 WA 41,393 264 41,658
Lubbock National Bank 1.45% 01/11/2017 01/11/2019 10,281,404 10,281,404
Galveston Texas 6.21% 01/08/2018 02/01/2019 1,233,481 1,230,000 3,481
Tomball TX CO's 5.00% 12/20/2016 02/15/2019 777,976 775,000 2,976
Le ac Texas Bank 1.40% 02117/2017 02/19/2019 9,753,107 11,589 9,764,696
Corpus Christi-Ref 1.81% 03/14/2016 03/01/2019 2,247,120 2,250,000 2,880
Lubbock National Bank 1.45% 03/01/2017 03/01/2019 5,641,790 13,655 5,655,445
R Bank 1.74% 10/02/2017 04/02/2019 2,035,104 8,945 — 2,044,049
Lubbock National Bank 1.50% 04/05/2017 04/0512019 6,151,963 22,782 6,174,745
Inde endent Bank 1.65% 05/01/2017 05/01/2019 5,125,379 21,316 5,146,695
Union State Bank 2.39% 05/10/2018 05/09/2019 2,000,000 2,000,000
Austin TX W&WW System Rev 1.93% 01/04/2019 05/15/2019 2,850,259 2,847,777 5,016
Texas A&M Univ 1.94% 05/01/2017 05/15/2019 2,043,112 2,048,606 5,494
Le ac Texas Bank 2.05% 12/22/2017 06/21/2019 4,109,312 20,807 4,130,118
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 5,129,166 21,530 5,150,697
FHLMC 0.88% 02/28/2018 07/19/2019 9,905,355 9,949,561 44,206
Le ac Texas Bank 1.70% 08/10/2017 08/09/2019 1 8,183,400 34,351 8,217,750
R Bank 1.80% 08/10/2017 08/10/2019 2,045,585 9,302 2,054,886
Le ac Texas Bank 1.70% 08/28/2017 08/28/2019 5,114,625 21,469 5,136,094
Le ac Texas Bank 2.10°% 12/21/2017 09/20/2019 4,084,813 21,188 4,106,001
JPMor anChase 1.64% 10/02/2017 10/02/2019 14,232,789 14,232,789
Lubbock National Bank 1.65% 10/02/2017 10/02/2019 10,194,307 41,532 10,235,838
R Bank 1.83% 10/02/2017 10/02/2019 2,036,936 9,417 2,046,353
FNMA 0.00% 10/11/2017 10/09/2019 4,902,800 4,935,250 32,450
REFCORP 0.00% 10/29/2018 10/15/2019 8,331,190 8,386525 55,335
JPMor anChase 1.98% 11/09/2017 11/09/2019 5,100,375 5,100,375 —
East West Bank 2.67% 02/20/2019 11/20/2019 5,014,651 5,014,651
Union State Bank 0.99% 12/05/2016 12/05/2019 245,000 245,000
Le ac Texas Bank 2.20°% 12/21/2017 12/20/2019 10,222,232 55,552 10,277,784
Le ac Texas Bank 2.20% 01/08/2018 01/08/2020 7,652,375 41,587 7,693,962
East West Bank 2.21% 01/26/2018 01/26/2020 10,207,990 55,777 10,263,767
FFCB 2.07% 02/28/2018 02/14/2020 9,955,264 9,959,736 4,472
JPMor anChase 2.56% 03/21/2018 03/21/2020 5,000,000 129,778 5,129,778
Independent Bank 2.62% 04/09/2018 04/09/2020 13,171,327 86,981 13,258,309
R Bank 2.85°% 05/14/2018 05/14/2020 2,028,941 14,627 2,043,567
Le ac Texas Bank 2.75°% 05/15/2018 05/15/2020 7,113,646 48,345 7,161,991
Independent Bank 2.70% 05/16/2018 05/16/2020 5,068,286 34,492 5,102,778
Independent Bank 2.95% 06/20/2018 06/19/2020 5,074,225 36,910 5,111,135
Independent Bank 2.95% 07/06/2018 07/08/2020 6,548,332 48,691 6,597,022
FFCB 2.68% 08/29/2018 08/24/2020 10,031,395 10,050,741 19,346
East West Bank 2.69% 03/04/2019 09/04/2020 5,010,328 5,010,328
East West Bank 2.78% 01/11/2019 10/12/2020 4,024,446 4,024,446
FHLB 2.86°% 10/02/2018 10/15/2020 6,037,935 6,048,871 10,936
Le ac Texas Bank 3.05% 11/16/2018 11/16/2020 5,012,534 37,791 5,050,326
East West Bank 2.70% 02/20/2019 11/20/2020 5,014,816 5,014.816
Le ac Texas Bank 3.05% 12/07/2018 12/07/2020 5,000,000 37,697 5,037,697
East West Bank 2.78% 01/11/2019 01/11/2021 10,061,115 10,061,115
Or in Bank 2.82% 02/12/2019 02/12/2021 6,200,000 6,200,000
East West Bank 2.71% 02/20/2019 02/19/2021 10,531,229 10,531,229
Le ac Texas Bank 2.74% 03/01/2019 03/01/2021 2,500,000 2,500,000
Sub Total/Average Fund 000-Pooled Investments 273,505,571 62,223,648 57,158,988 278,736,411 173,678
Page 19.
Valley View Consulting,L.L.C.
Market Value Comparison March 31, 2019
Coupon Settlement Beginning Market Total Buys/ Total Sells/ Ending Market Change in Market
Issuer Rate Date Maturity Date Value Increases Decreases Value Value
Fund 170-Interest&Sinking GO Bonds
TexPool N/A 09/30/2015 N/A 2,244,383 13,417 2.165,256 92,543 —
TexasDAILY N/A 04/30/2016 N/A 2,476,905 7,253 2,400,000 84,158 —
NexBank N/A 02/27/2017 N/A 25.555 7,024,217 7,049,772
R Bank 2.75°% 12/26/2018 06/26/2019 1.500,000 10,205 — 1,510,205 —
East West Bank 2.69% 01/11/2019 07/11/2019 7.846,122 — 7,846,122
Sub Total/Average Fund 170-Interest&Sinking GO Bonds 6,246,843 14,901,214 4,565,256 16,582,801
Fund 210-Interest&Sinking Debt Service
NexBank N/A 02/27/2019 N/A — 1.003,927 — 1,003.927 —
JPMor an Chase N/A 09/30/2015 N/A 4.790 — 4.790 —
Sub TotallAvera a Fund 210-Interest&Sinking Debt Service 4,790 1,003,927 1,008,718 —
Fund 459-2018 Bond Fund
TexPool N/A 12/15/2018 N/A 1,013,509 6,508 1.985 1,018.032
Wallis State Bank 2.76% 12/21/2018 09/23/2019 3,000,000 20,446 3,020,446 —
R Bank 2.83% 12/26/2018 09/24/2019 3.000,000 20,538 — 3.020,538 —
Sub Total/Average Fund 459-2018 Bond Fund 1 7,013,509 47,492 1,985 7,059,016
Fund 460-Bond Fund
TexPool N/A 09/30/2015 N/A 63,070 760,191 178,571 644.690 —
NexBank N/A 11/29/2016 N/A 1,538,945 4,019,453 4,000,000 1.558,398 —
East West Bank 2.16% 04/09/2018 01/09/2019 5,079,628 5.079,628 — —
Inde endentBank 2.78% 07/06/2018 07/09/2019 6.042.043 42,337 6,084.380 —
East West Bank 2.86% 12/07/2018 12/09/2019 5,009,804 35,453 5,045.257 —
East West Bank 2.70% 03/04/2019 03/04/2020 — 4,008,293 — 4,008.293 —
Sub Total/Average Fund 460-Bond Fund 17,733,489 8,865,727 9,258,199 17,341,018
Fund 462-2017 Bond Fund
TexPool N/A 05/30/2017 N/A 898,352 412,358 1,310,710
Le ac Texas Bank 1.65% 06/23/2017 03/22/2019 1,025,065 2.875 1.027.940 —
Le ac Texas Bank 1.70% 06/23/2017 06/24/2019 1,025.833 4,306 — 1.030.139 —
East West Bank 2.38% 03/21/2018 09/21/2019 3.056,469 17,989 — 3,074.458 —
East West Bank 2.86% 12/07/2018 12/09/2019 1,502,941 10,636 — 1,513.577 —
R Bank 2.90% 12/26/2018 12/26/2019 2.000,000 14,352 2,014.352
Sub Total/Average Fund 462-2017 Bond Fund 9,508,660 462,516 1,027,940 8,943,236
Fund 591-Reserves Fund
TexPool N/A 09/30/2015 N/A 1 8,489 50 — 8.540
Green Bank N/A 06/09/2016 N/A 826.730 5 280 — 832,010
Sub Total/Average Fund 591-Reserves Fund 835,220 5,330 — 840,550
Fund 602-Interest&Sinking Revenue Bonds
TexPool N/A 0 913 0/2 01 5 N/A 3,989,335 16,314 1 2.356.599 1.649,049 —
East West Bank 2.73% 12/07/2018 06/07/2019 3,506,550 23.683 — 3 530.233 —
Sub Total/Average Fund 602-Interest&Sinking Revenue Bonds 7,495,885 39,997 2,356,599 1 5,179,283 —
Fund 863-Drainage Utility Revenue Bond
TexPool N/A 10/31/2015 N/A 887,377 111,635 775.742
Southside Bank 1.88% 01/08/2018 01/08/2019 1.521.191 1.521.191 —
R Bank 2.63% 05/14/2018 05/14/2019 3.040.038 20.219 — 3.060.256 —
Sub Total/Average Fund 863-Drainage Utility Revenue Bond 4,561,229 907,596 1,632,826 3,835,999
Total/Average $ 326,905,197 $ 88,457,447 $ 76,001,792 $ 339,527,031 $ 173,678
Page 20.
Valley View Consulting, L.L.C.