Page 40 - Southlake FY22 Budget

TrAnSMITTAL LETTEr

this category. The first expenditures from this sPeCial revenue funds
fund were made in FY 2008. exPendiTure highlighTs (COnT.)

Use of these funds is restricted. Planned fund iTem exPendiTure
expenses must be authorized uses under the
Texas Tax Code, Chapter 351. Hotel Southlake Town Square
Occupancy Tax Kiosk Replacement $30,000
Fund (cont.)
For FY 2022, revenues are estimated at
$968,255, an increase of 140.7% compared
to the FY 2021 adopted budget. The operating Library Special projects Defined by
budget currently includes funding for the Donations donor
Tourism Marketing Manager, and a portion
of the cost of the Assistant City Manager, Parks and Special projects $25,000
Economic Development & Tourism Director, Recreation Fund
Marketing and Graphic Design Coordinator,
and administrative support staff costs directly
attributable to tourism. Public Art Fund Transfer to CIP $100,000

Total planned expenditures for this fund for
FY 2022 are $890,750. Recycling education and
Recycling Fund $6,000
promotion
Indirect transfers to other funds total
$183,968.

The ending fund balance is projected at $1,665,951. This balance will carry forward for future initiatives to
promote tourism in the City

Hotel Occupancy Tax Funds support the strategic focus area of Performance Management
and Service Delivery, and the strategic corporate objective of “Enhance resident quality
of life & business vitality through tourism.”

Library Donations. This adopted budget includes funds from donations, and uses are restricted for library
purposes. Staff is anticipating approximately $4,000 in donations and the $8,000 in expenditures will be for
library special projects, which are often defined by the donor. Ending fund balance is projected at $6,443.

Park Dedication Fees. This special revenue fund accounts for funds from park dedication fees on new
development. Use of park dedication fees is restricted to park improvements and primarily used for capital
expenses. No new operating expenditures are adopted for FY 2022, however, a transfer to the CIP of $480,000
is planned to support facility improvements at the Bob Jones Park and Nature Preserve, and Gateway Lakes
Park .

The adopted budget reflects revenues of $90,000 in fees and $2,100 in interest earnings for total revenues
of $92,100.

The ending fund balance is projected to be $1,143,620.

BUDGET BOOK | FY 2022 City of Southlake 39
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