Page 42 - Southlake FY20 Budget

Transmittal Letter

Strategic Initiative Fund Strategic Initiative Fund
Expenditure Highlights
At the end of each fiscal year, General Fund excess
revenue (including indirect transfers from other Highlight Item Expenditure
funds) and unspent appropriation become a
part of the City’s fund balance, or reserves. This Transfer to Facility
year’s budget proposes $10.5 million of FY 2020 Infrastructure Maintenance $1,500,000
projected revenues will remain in the General Fund Maintenance Fund
undesignated fund balance. This will provide for
reserves of 25.05% of operating expenses to be
used for unanticipated or emergency needs. This 2035 Stormwater
is the level deemed optimum under the City’s fund Master Plan $100,000
balance policy. Update

When reserves exceed the optimum level, the Community 2035 Parks
excess is transferred to the Strategic Initiative Fund Enhancement Master Plan $25,000
(SIF). Using excess reserves in this way provides Update
cash funding for needed projects without requiring Parkwood
the City to borrow money for them. Further, this
approach ensures that reserves are not used to property site $50,000
balance the City’s operating budget. improvements

Implemented in 2006, the SIF has been used for CIP $2,200,000
infrastructure maintenance (City facility repairs and Transfer
renovations), the Urban Design Study, Southlake
2030/2035 plan development, technology needs, Secondary
and capital projects such as roads and sidewalks. repeater for $11,447
We have also been able to purchase needed public outdoor warning
safety equipment such as fire ladder trucks, an siren notification
ambulance, and a portion of the outdoor warning
system. Capital Additional Fire
Department
Acquisition bunker gear $25,910
Figure 11 shows the uses of the SIF since its (cancer
inception.
prevention)
For FY 2020, we are proposing a transfer from the
General Fund of $5,750,000. The beginning SIF fund Adult and
balance is $4,218,873. infant airway
management $11,241
simulation
For FY 2020, the following projects are proposed in
each of the categories: manikins
Transfer to
Infrastructure Maintenance Funding. With Technology Technology $3,500,000
current assets exceeding 937,000 square feet Infrastructure and
and including Champions Club, a preventative Security Fund
maintenance and repair program is critical for
proper facility management.

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