Page 296 - Southlake FY22 Budget

STrATEGIC InITIATIVE FUnD

sTraTegiC iniTiaTive fund

The City of Southlake’s Fund Balance Policy states, “The City of Southlake’s goal shall be to maintain a fund balance in
GENERAL FUND
the General Fund equal to a minimum of 15% of General Fund budgeted operating expenditures, with the optimum
Strategic Initiative Fund
goal of 25%.” Since 2006, any dollars beyond the optimal goal of 25% have been transferred to the Strategic
2022 Proposed and 2021 Revised Budget
Initiative Fund with uses limited to one-time, non-recurring expenses. 05:51 PM
08/04/21

$ Increase/ $ Increase/
2020 2021 2021 (Decrease) % Increase/ 2022 (Decrease) % Increase/
Adopted
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest 44,841 35,000 9,000 (26,000) -74.3% 9,500 (25,500) -72.9%
Total Revenues $44,841 $35,000 $9,000 ($26,000) 0.0% $9,500 ($25,500) -72.9%

EXPENDITURES
Infrastructure Maintenance $0 $0 $0 $0 0.0% $0 0 0.0%
Community Enhancement 160,594 150,000 150,000 0 0.0% 200,000 50,000 33.3%
Technology Infrastructure 0 0 0 0 0.0% 0 0 0.0%
Capital Acquisition 46,573 0 0 0 0.0% 443,462 443,462 4434619900.0%
Total Expenditures $207,167 $150,000 $150,000 $0 0.0% $643,462 $493,462 329.0%
Net Revenues ($162,326) ($115,000) ($141,000) ($26,000) ($633,962) ($518,962)

Transfer from other funds $7,350,000 $4,990,000 $8,750,000 $6,000,000
Transfer to other funds (7,200,000) (5,500,000) (5,500,000) (8,000,000)
Total Other Sources/(Uses) $150,000 ($510,000) $3,250,000 ($2,000,000)

Beginning Fund Balance $4,571,399 $4,559,073 $4,559,073 $7,668,073
Ending Fund Balance $4,559,073 $3,934,073 $7,668,073 $5,034,111

fy 2022 highlighTs:

• Infrastructure Maintenance Funding: We are proposing that $1,000,000 be transferred from the SIF to 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.

• Community Enhancement Funding: This category of funding is set aside as a way to provide pay-as-you-go funding
for initiatives which will enhance the quality of life or aesthetics of Southlake. For FY 2022 community enhancement
projects include: $150,000 for 2035 Master Plan updates and $50,000 improvements to the Parkwood facility.

• Capital Acquisition Funding: We are proposing to transfer $6,500,000 from the SIF to the Capital Improvements
Program for the purpose of building infrastructure. This cash funding will reduce the amount of bonds the City
will need to issue for General Fund CIP projects in FY 2022. Additionally, this budget includes: a tanker truck for
$375,000, a self-contained breathing apparatus (SCBA) air compressor and bottle fill station for $47,865, and a
vehicle rescue strut system for $20,597.

• Technology: We are proposing to transfer $500,000 to this fund to cover certain technology expenses.

BUDGET BOOK | FY 2022 City of Southlake 295
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