Page 10 - Southlake FY22 Budget

InTrO AnD TOC

faCiliTy mainTenanCe fund .......................................................................................................297
This section provides information about the 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 facilities age. The Strategic Initiative Fund has
provided seed money for this fund, an important element of our budget given the size and complexity of the City’s facility
infrastructure.
TeChnOlOgy infrasTruCTure & seCuriTy fund..........................................................................301
This section provides information about the Technology Infrastructure & Security Fund. This fund was created in FY 2017
to build capacity for current and future technology needs. Expenditures in this fund are used to maintain, enhance and
replace technology infrastructure and enterprise software to ensure the City receives the most reliable and best value with
technology investments.

eCOnOmiC develOPmenT invesTmenT fund................................................................................ 305
The Southlake 2035 Economic Development & Tourism Strategic Plan includes the following as recommendation 4.3:
“Southlake should establish a fund to use to attract and retain employers, as well as to help retain and expand existing
businesses.” This fund was created in 2013 for that purpose.

uTiliTy fund ...............................................................................................................................309
This section provides the Utility Fund Summary. The Utility Fund is an enterprise or business fund. This means that the
direct beneficiaries of the “business” pay for all costs through fees or rates. Water, sewer service, and solid waste service
revenues generated through our rates, as well as the expenses for providing these services are accounted for in the Utility
Fund.

vehiCle rePlaCemenT fund .......................................................................................................313
This section provides a fund summary and detailed spending plan funds which provide the resources needed to manage the
purchase of vehicles for the City’s fleet. The establishment and funding of the vehicle replacement program was designed
to even out expenses for the City’s fleet from year to year and provide a logical method for purchasing and retiring vehicles.

deBT serviCe funds & deBT sChedules ......................................................................................317
This section provides a summary of the annual principal and interest payments for all outstanding bonded debt and capital
leases. Also included are some fast facts about the City’s use of debt and how that debt is funded both through property
tax revenue and through dedicated, self-supporting revenue streams such as sales tax revenues for park development.

tax supported vs. selF-supporting deBt .............................................................................318

deBt management .....................................................................................................................320

the relationship Between property taxpayers and deBt repayment ............................321
general oBligation deBt overview ........................................................................................324

revenue Bond overview ..........................................................................................................326

deBt service Fund .....................................................................................................................328

southlake parks development corporation .......................................................................330

community enhancement and development corporation ................................................334

sPeCial revenue funds ..............................................................................................................337
This section provides a detailed spending plan for funds which account for proceeds of specific revenue sources that are
legally restricted for certain purposes.

introduction .............................................................................................................................339

BUDGET BOOK | FY 2022 City of Southlake ix
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