Page 44 - Southlake FY22 Budget

TrAnSMITTAL LETTEr

TECHNOLOGY
13.9%

CAPITAL ACQUISITION
10.3%
FACILITY PROJECTS
0.3%

CIP TRANSFER FACILITY RESERVES
61.1%
10.8%

URBAN DESIGN/MASTER PLAN
SUPPORT
1.1%
PUBLIC ART
0.1%
COMMUNITY ENHANCEMENT
2.4%

Figure 11: Strategic Initiative Fund expenditures by type, FY 2006 - 2021

safety equipment such as fire ladder trucks, an ambulance, and a portion of the outdoor warning system.
Figure 11 shows the uses of the SIF since its inception.

The beginning SIF fund balance is $7,543,073. For FY 2022, we are proposing a transfer from the General
Fund of $6,000,000.

For FY 2022, the following projects are adopted in each of the categories:

Infrastructure Maintenance Funding. With current assets exceeding 937,000 square feet and including
Champions Club, a preventative maintenance and repair program is critical for proper facility management.

For FY 2022, 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 to provide pay-as-you-go funding
for initiatives which will enhance the quality of life or aesthetics of Southlake. This year’s budget proposes
expenditures of $200,000 in this category, to address the following projects:

• Southlake 2035 initiatives
• Parkwood Property site improvements

Capital Acquisition Funding. The SIF is often used to provide cash funding for capital equipment or projects.
For FY 2022 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 limit the need for the City to issue bonds for
General Fund CIP projects in FY 2022. Recall we have used cash funding for the CIP as a way to reduce and

BUDGET BOOK | FY 2022 City of Southlake 43
WWW.CITYOFSOUTHLAKE.COM