Page 300 - Southlake FY22 Budget

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 facilities age. The Strategic Initiative Fund (SIF) has provided seed money for this fund, an
GENERAL FUND
important element of our budget given the size and complexity of the City’s facility infrastructure. For FY 2022
we will continue our practice of transferring SIF money into this fund, but we are also budgeting expenses in the
Facility Maintenance
operating budget for facility projects. 2022 Proposed and 2021 Revised Budget
03:25 PM
07/21/21

$ Increase/ $ Increase/
2020 2021 2021 (Decrease) % Increase/ 2022 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
Adopted
REVENUES
Interest 90,799 50,000 21,800 (28,200) -56.4% 23,000 (27,000) -54.0%
Total Revenues $90,799 $50,000 $21,800 ($28,200) 0.0% $23,000 ($27,000) -54.0%

EXPENDITURES
Operations $0 $62,500 $62,500 $0 0.0% $0 (62,500) -100.0%
Capital 0 595,510 595,510 0 0.0% 308,237 (287,273) -48.2%
Total Expenditures $0 $658,010 $658,010 $0 0.0% $308,237 ($349,773) -53.2%

Net Revenues $90,799 ($608,010) ($636,210) ($28,200) ($285,237) $322,773

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

Beginning Fund Balance $7,222,997 $8,813,796 $8,813,796 $9,177,586
Ending Fund Balance $8,813,796 $9,205,786 $9,177,586 $9,892,349

fy 2022 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 $1,000,000
from the SIF.

• Total planned expenditures for this fund for FY 2022 are $308,237 for replacement carpeting in the Library
($110,172), restoration of the DPS Headquarters parking garage ($106,335), a replacement generator at the DPS
West Station ($75,000), and replacement furniture for the Library ($16,730).

• The projected ending fund balance is $9,892,349, which provides adequate reserves for the program.

BUDGET BOOK | FY 2022 City of Southlake 299
WWW.CITYOFSOUTHLAKE.COM