Page 36 - Southlake FY22 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 Library carpet
infrastructure. For FY 2022, we will continue our replacement $110,172
practice of transferring SIF money into this fund,
working to meet the goal of holding 10% of the DPS Headquarters
total value of the City’s physical plant in reserve. parking garage
exterior $106,335
In FY 2022, we are proposing a transfer of restoration
$1,000,000 from the SIF. Operations

DPS West
City staff currently manages over 937,000 square Station back-up $75,000
feet of facility infrastructure, including the recently generator
opened Champions Club at The Marq Southlake
and the Southlake Tennis Center. Many of the Library furniture
smaller daily maintenance efforts of the facilities replacement $16,730
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 $9,892,349, which represents 8.5% 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 2022 buDgEt proposEs a
transfEr froM thE stratEgic initiativE
funD of $1,000,000 toWarDs this goal.

BUDGET BOOK | FY 2022 City of Southlake 35
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