Page 170 - Southlake FY20 Budget

City Department Overview
Finance Department
The Finance Department will provide sound management of the
City’s financial assets and timely, accurate information to ensure
financial sustainability.
DEPARTMEnT HIGHLIGHTS
3,500 18
Teen Court volunteers The City has successfully
have performed more maintained the optimum
than 3,500 hours of 25% fund balance in the
community service for General Fund for 18 years.
Southlake departments/
organizations. That is
a savings of more than 48
$91,000 to the City of
Southlake and its non-profit Both our Budget and CAFR
organizations. have been honored a
combined 48 times by the
GFOA for excellence.
13
The Finance Department 2.7%
has thirteen core services.
The Finance Department’s
2020 General Fund Budget
is $2,590,163 which is a
2.7% increase over the
6% FY 2019 adopted budget.
This is due to increases in
The Finance Department’s personnel costs.
budget is 6% of total
General Fund expenditures.
www.CityofSouthlake.com
FInAnCE
$19.3M
Finance reduced the debt
service payment by $2.9
million by the issuance
of G.O. Refunding Bonds,
Series 2019 totaling $19.3
million. This is one benefit
of the City’s AAA bond
rating.
6%
The Finance Department
is staffed by 27 FTEs that
provide services across the
Finance Administration,
Municipal Court, and Water
Utility divisions. The staff
comprises 6% of the City’s
workforce.
169