Page 230 - Southlake FY23 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
important element of our budget given the size and complexity of the City’s facility infrastructure. For FY 2023
GENERAL FUND
we will continue our practice of transferring SIF money into this fund, but we are also budgeting expenses in the
operating budget for facility projects. Facility Maintenance
2023 Proposed and 2022 Revised Budget

$ Increase/ $ Increase/
2021 2022 2022 (Decrease) % Increase/ 2023 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest 8,186 23,000 5,000 (18,000) -78.3% 5,000 (18,000) -78.3%
Total Revenues $8,186 $23,000 $5,000 ($18,000) 0.0% $5,000 ($18,000) -78.3%

EXPENDITURES
Operations $39,223 $0 $0 $0 0.0% $0 (0) -100.0%
Capital 431,318 308,237 308,237 0 0.0% 345,000 36,763 11.9%
Total Expenditures $470,541 $308,237 $308,237 $0 0.0% $345,000 $36,763 11.9%

Net Revenues ($462,355) ($285,237) ($303,237) ($18,000) ($340,000) ($54,763)

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

Beginning Fund Balance $8,813,796 $9,351,441 $9,351,441 $10,048,204
Ending Fund Balance $9,351,441 $10,066,204 $10,048,204 $11,208,204

Fy 2023 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 $1,500,000
from the SIF.

• Total planned expenditures for this fund for FY 2023 are $345,000 for Southlake Town Hall elevator
modernization (215,000), DPS West Generator ($90,000), replacement roofs for the two pump stations
($28,000), and water bottle filling stations for Southlake Town Hall (12,000).

• The projected ending fund balance is $11,208,204, which provides adequate reserves for the program.

BUDGET BOOK | FY 2023 City of Southlake 229
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