Page 26 - Southlake FY23 Budget

TRAnSmITTAL LETTER

Debt Service Fund
utilitY Fund expenditure highlights

For FY 2023, revenues are estimated at $5,950,169,
with $5,943,869 coming from ad valorem taxes, and highlight item expenditure
$6,300 from interest income. Transfers into the fund
are budgeted at $402,554 to pay the debt service for
the bonds issued for storm water improvements. Total 5% cost of
expenditures are proposed at $6,750,432 for annual Pay adjustment living base pay
principal and interest payments, as well as related adjustment
administrative costs.
9.4% rate
The Debt Service Fund is projected to end the 2023 Personnel Health insurance increase
fiscal year with reserves of $2,941,832. The fund
balance allows us to meet our fund balance policy Public Works
which states that the City of Southlake “…shall also Reorganization
maintain Reserve Funds for all statutorily required (94% General $9,917
reserve funds to guarantee debt service.” Fund/6% Utility
Fund)
The capital projects funded
through the City’s bond program Lead & Copper
address the focus areas of Rule Revisions $100,000
Infrastructure and Mobility, and (LCRR) Program
the strategic corporate objective of “Invest
to provide and maintain high quality public Operations Commercial
- Legislative
assets.” Impact Driver’s License
(CDL) Training
Utility Fund (63% General $12,000

Fund/37% Utility
The Utility Fund is used to account for the acquisition, Fund)
operation, and maintenance of Southlake’s municipal
water and sewer utility, supported primarily by user Enterprise Asset
charges to utility customers. The fund accounts for Management
operational costs as well as debt service for utility System (50%
system improvement bonds. The intent of this fund is Technology $136,500
for the direct beneficiaries to pay for all costs of the Infrastructure
fund – including debt service – through fees levied for & Security
the services provided. Revenue and expenses related Fund/50% Utility
to garbage service are also accounted for in the Utility Fund)
Fund. LTE water meter

Revenue highlights. The Utility Fund revenues are Operations transponder $300,500
replacement
projected at $34,145,200 for an increase of $1,537,000. contract services
This is a 4.7% increase when compared with the FY
2022 adopted budget. Wastewater Line
Condition Camera $110,000
Replacement

Field Application
Technology $20,000
Configuration

BUDGET BOOK | FY 2023 City of Southlake 25
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