Page 278 - Southlake FY20 Budget
P. 278

Facility Maintenance Fund



        Facility Maintenance Fund




            The purpose of this fund is to build capacity for future maintenance projects as we will have many needs to address as our
                                                  GENERAL FUND
            facilities age.  The Strategic Initiative Fund has provided seed money for this fund, an important element of our budget given
                                                    Facility Maintenance
            the size and complexity of the City’s facility infrastructure.  For FY 2020 we will continue our practice of transferring SIF
                                              2020  Proposed and 2019 Revised Budget
            money into this fund, but we are also budgeting expenses in the operating budget for facility projects.
                                                                                                            06:04 PM
                                                                                                            08/11/19
                                                               $ Increase/                   $ Increase/
                             2018        2019         2019     (Decrease)  % Increase/  2020  (Decrease)  % Increase/
                             Actual     Adopted     Amended     Adopted  -Decrease  Proposed  Adopted   -Decrease
         REVENUES
         Interest               71,999       19,000     105,000   86,000   452.6%    100,000     81,000     426.3%
         Total Revenues        $71,999      $19,000    $105,000   $86,000   0.0%    $100,000    $81,000     426.3%

         EXPENDITURES
         Operations             $13,707     $144,200   $144,200      $0     0.0%      $2,500   (141,700)    -98.3%
         Capital                   0            0           0        0      0.0%         0          0        0.0%
         Total Expenditures    $13,707      $144,200   $144,200      $0     0.0%      $2,500   ($141,700)   -98.3%


         Net Revenues          $58,292     ($125,200)   ($39,200)  $86,000           $97,500   $222,700

         Transfer from other funds  $1,500,000  $500,000  $500,000                 $1,500,000
         Transfer to other funds  ($0)         ($0)        ($0)                         ($0)
         Total Other Sources/(Uses)  $1,500,000  $500,000  $500,000                $1,500,000

         Beginning Fund Balance  $5,150,264  $6,708,556  $6,708,556                $7,169,356
         Ending Fund Balance  $6,708,556   $7,083,356  $7,169,356                  $8,766,856







        FY 2020 Highlights:


        •  We will continue our practice of transferring SIF money into this fund, working to meet the goal of holding a
            minimum of 10% of the total value of the City’s physical plant in reserve and are proposing a transfer of $1,500,000
            from the SIF.


        •  Total planned expenditures for this fund for FY 2020 are $2,500 for the replacement a water fountain that has
            exceeded its useful life.

        •  The projected ending fund balance is $8,766,856, which provides adequate reserves for the program.














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