Page 41 - Southlake FY22 Budget

TrAnSMITTAL LETTEr

Parks and Recreation Fund. This fund accounts sPeCial revenue funds
for sponsorships obtained to enhance City exPendiTure highlighTs (COnT.)
special events, programs, athletic fields and
parks for which sponsorships are granted. fund iTem exPendiTure

The adopted budget reflects revenues Traffic signal back-up
of $46,500 in donations, sponsorships, batteries $90,000
tournament fees, and $600 in interest earnings
for total revenues of $47,100. Expenses are
estimated at $72,500 leaving the fund with a Red Light School zone safety $35,500
projected balance of $121,557. Camera enhancements

Public Art Fund. The Public Art Fund was Traffic safety initiatives $3,205
established to account for funding that
is available for the promotion, creation,
installation, and/or maintenance of public 2.5% cost of
art throughout the City of Southlake. Funding living base pay
was first established when the Southlake Pay adjustment adjustment;
Stampede program was implemented – Merit, Market
the proceeds from the sale of the artist- where
designed steers were designated for public applicable
art. Additional funding is now available from
the Hotel Occupancy Tax to support the City’s Storm Water Health insurance 0.1% rate
public art program, and a master plan has Utility Fund decrease
been adopted to guide program development.

1% rate
The adopted budget shows $5,000 in interest Dental insurance decrease
income based on a beginning fund balance of
$338,918.
Storm water Consultant $13,000
The law providing for the Hotel Occupancy Tax Services
allows up to 15% of the revenues to be used
for public art purposes. Because this source
of funding comes in the form of a transfer, it is shown “below the line.” For FY 2022 a transfer of $145,238
to the fund is adopted.

Expenditures are estimated at $68,100. The Public Art Fund will provide support for the City’s ongoing
relationship with the APEX Arts League, Arts Council – Northeast, and the Southlake Arts Council by providing
funding for various projects such as public art displays and event support. The budget also supports public
art maintenance.

A transfer of $100,000 to the CIP is planned for public art.

The ending fund balance is estimated at $321,056.

40 FY 2022 City of Southlake | BUDGET BOOK
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