Page 34 - Southlake FY20 Budget

Transmittal Letter

Facility Maintenance Fund Facility Maintenance Fund
Expenditure Highlights
The Strategic Initiative Fund (SIF) provided seed
money to account for future facility financial Highlight Item Expenditure
requirements, an important element of our budget
given the size and complexity of the City’s facility
infrastructure. For FY 2020, we will continue our Town Hall
practice of transferring SIF money into this fund, Operations - First floor $2,500
working to meet the goal of holding 10% of the water fountain
total value of the City’s physical plant in reserve. replacement

In FY 2020, we are proposing a transfer of $1,500,000
from the SIF.

City staff currently manages over 937,000 square feet of facility infrastructure, including the recently-
opened Champions Club at The Marq Southlake and the Southlake Tennis Center. Many of the smaller
daily maintenance efforts of the facilities are absorbed into the various operating budgets as appropriate.
However, we recognize that it is important to have a proactive maintenance program that addresses larger
scale projects and that prudently prepares for increased maintenance and repair costs as the facilities age.

Ending fund balance is projected at $8,766,856, which represents 7% of the total value of the City’s physical
plant.

Southlake 2030

SuStainability
MaSter Plan

EFW3: Fund and adopt annual City

operating budget, capital projects and
equipment through sound financial
policies.

“The Facility Maintenance Fund should
maintain a reserve equivalent to 10% of
total City facility asset value.”

The FY 2020 Budget proposes a transfer
from the Strategic Initiative Fund of
$1,500,000 towards this goal.

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