avatar Cross Timbers Royalty Trust Finance, Insurance, And Real Estate

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    Tax Information Per Unit Third Quarter Report 2020 MONTHLY DISTRIBUTIONS PAID ON: ($/UNIT EXCEPT COST DEPLETION FACTORS) August 14, 2020 September 15, 2020 October 15, 2020 Total Gross Income ......................................................................................... $ 0.051600 $ 0.067406 $ 0.060617 $ 0.179623 Less Severance Taxes .............................................................................. (0.015531) (0.014401) (0.011482) (0.041414) Interest Income ...................................................................................... 0.000010 0.000007 0.000005 0.000022 Less Administration Expenses ................................................................. (0.003748) (0.015058) (0.017093) (0.035899) Reconciling Items ................................................................................... 0.000000 0.000000 0.000000 0.000000 NET CASH DISTRIBUTION .............................................................. $ 0.032331 $ 0.037954 $ 0.032047 $ 0.102332 Cost Depletion Factors: Texas - 90%............................................................................. 0.002276 0.003959 0.003448 0.009683 Oklahoma - 90% ..................................................................... 0.009363 0.011417 0.015528 0.036308 New Mexico - 90% .................................................................. 0.006491 0.005373 0.006459 0.018323 Texas - 75%............................................................................. 0.000000 0.000000 0.000000 0.000000 Oklahoma - 75% ..................................................................... 0.000000 0.000000 0.000000 0.000000 Unitholders owning units in nominee name may obtain monthly tax information from the Trustee upon request or from the Trust’s web site at www.crt-crosstimbers.com. 855.588.7839 ■ Simmons Bank, Trustee ■ www.crt-crosstimbers.com Cross Timbers Royalty Trust 2911 Turtle Creek Blvd, Ste 850, Dallas, TX 75219 3 rd 2020 Quarter Report Cross Timbers Royalty Trust


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    To Unitholders: Cross Timbers Royalty Trust Financial Statements F or the quarter ended September 30, 2020, net profits Condensed Statements of Assets, Liabilities and Trust Corpus (Unaudited) income was $829,258 compared to $1,272,845 for third September 30, December 31, quarter 2019. This 35% decrease in net profits income 2020 2019 ASSETS is primarily the result of lower oil and gas prices ($0.9 million), partially offset by decreased production expenses Cash and Short-Term Investments .......................................................................................... $ 1,192,251 $ 1,501,398 ($0.2 million), increased oil and gas production ($0.2 Interest to be Received .......................................................................................................... 31 1,642 million), and decreased development costs ($0.1 million). Net Profits Interests in Oil and Gas Properties – Net .............................................................. 7,655,559 8,161,795 $ 8,847,841 $ 9,664,835 After considering interest income of $134 and administration expense of $215,400, distributable income LIABILITIES AND TRUST CORPUS for the quarter ended September 30, 2020 was $613,992, Distribution Payable to Unitholders ....................................................................................... $ 192,282 $ 503,040 or $0.102332 per unit of beneficial interest. Administration Expense Reserve (a) ................................................................................................................ 1,000,000 1,000,000 expense for the quarter increased $61,092 from the prior Trust Corpus (6,000,000 Units of Beneficial Interest year quarter, primarily related to the timing of receipt Authorized and Outstanding) ........................................................................................ 7,655,559 8,161,795 and payment of Trust expenses and terms of professional $ 8,847,841 $ 9,664,835 services. Changes in interest income are attributable to (a) Expense reserve allows the Trustee to pay its obligations should it be unable to pay them out of the net profits income. The reserve is currently funded at $1,000,000. fluctuations in net profits income and interest rates. For third quarter 2019, distributable income was $1,124,874, or $0.187479 per unit. Condensed Statements of Distributable Income (Unaudited) Three Months Ended September 30 Nine Months Ended September 30 Distributions to unitholders for the quarter ended 2020 2019 2020 2019 September 30, 2020 were: Net Profits Income .................................................... $ 829,258 $ 1,272,845 $ 4,107,869 $ 4,466,126 Distribution Interest Income ........................................................ 134 6,337 5,777 19,965 Record Date Payment Date Per Unit TOTAL INCOME ............................................... 829,392 1,279,182 4,113,646 4,486,091 July 31, 2020 August 14, 2020 $ 0.032331 August 31, 2020 September 15, 2020 0.037954 Administration Expense ............................................ 215,400 154,308 581,728 558,245 September 30, 2020 October 15, 2020 0.032047 Distributable Income ................................................ $ 613,992 $ 1,124,874 $ 3,531,918 $ 3,927,846 $ 0.102332 Distributable Income per Unit (6,000,000 Units) ............ $ 0.102332 $ 0.187479 $ 0.588653 $ 0.654641 This letter, and all communications to unitholders, includes information provided to the Trustee by XTO Energy Inc. Condensed Statements of Changes in Trust Corpus (Unaudited) Three Months Ended September 30 Nine Months Ended September 30 Cross Timbers Royalty Trust 2020 2019 2020 2019 By: Simmons Bank, Trustee Trust Corpus, Beginning of Period ............................. $ 7,733,514 $ 8,324,828 $ 8,161,795 $ 8,526,512 Amortization of Net Profits Interests........................... (77,955) (87,057) (506,236) (288,741) Distributable Income ................................................. 613,992 1,124,874 3,531,918 3,927,846 Distributions Declared............................................... (613,992) (1,124,874) (3,531,918) (3,927,846) Trust Corpus, End of Period....................................... $ 7,655,559 $ 8,237,771 $ 7,655,559 $ 8,237,771 By: Nancy Willis Vice President These Condensed Financial Statements should be read in conjunction with the Condensed Financial Statements and notes thereto included in the Trust’s quarterly report on Form 10-Q for the quarter ended September 30, 2020.


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