Page 33 - Southlake FY23 Budget

TRAnSmITTAL LETTER

Facility Maintenance Fund FAcilitY mAintenAnce Fund

expenditure highlights
Using the Strategic Initiative Fund (SIF), the City
was able to establish a fund to set aside dollars for highlight item expenditure
facility maintenance as recommended by the City’s
Sustainability Plan. Given the size and complexity of Town Hall
the City’s facility infrastructure, building a fund for elevator
future needs is an important aspect of the City’s overall modernization $215,000
financial management. For FY 2023, we will continue rebuild
our practice of transferring SIF money into this fund,
working to maintain the plan goal of holding 10% of the DPS West
total value of the City’s physical plant in reserve. Station back-up $90,000
generator (FY
In FY 2023, we are proposing a transfer of $1,500,000 Operations 2022 carryover)
from the SIF.

City staff currently manages over 937,000 square feet Pump station roof $28,000
of facility infrastructure. Smaller daily maintenance replacement (2)
efforts of the facilities are absorbed into the various
operating budgets. However, it is important to have a Town Hall
proactive maintenance program that addresses large water fountain $12,000
scale projects and that prudently prepares for increased replacement (3)
maintenance and repair costs as the facilities age.

Ending fund balance is projected at $11,208,204, which represents 9.8% of the total value of the City’s physical plant.

southlAke 2030
sustAinABilitY
mAster plAn

EfW3: funD anD aDopt annual city
opErating buDgEt, capital projEcts
anD EquipMEnt through sounD

financial policiEs.

“thE facility MaintEnancE funD shoulD
Maintain a rEsErvE EquivalEnt to 10%
of total city facility assEt valuE.”

thE fy 2023 buDgEt proposEs a
transfEr froM thE stratEgic initiativE
funD of $1,500,000 toWarDs this goal.

32 FY 2023 City of Southlake | BUDGET BOOK
WWW.CITYOFSOUTHLAKE.COM