Page 39 - Southlake FY23 Budget

TRAnSmITTAL LETTER

Strategic Initiative Fund strAtegic initiAtiVe Fund
expenditure highlights
At the end of each fiscal year, General Fund excess
revenue (including indirect transfers from other funds) highlight item expenditure
and unspent appropriation become a part of the City’s
fund balance, or reserves. When reserves exceed the Transfer to
optimum level, the excess is transferred to the Strategic Infrastructure Facility
Initiative Fund (SIF). Using excess reserves in this way Maintenance Maintenance $1,500,000
provides cash funding for needed projects without Fund
requiring the city to borrow money for them.

Implemented in 2006, the SIF has been used for non-
recurring expenses and high impact projects. 2035 Master $150,000
Plan Updates
Figure 11 shows the uses of the SIF since its inception.
Community
The beginning SIF fund balance is $12,628,648. For FY Enhancement
2023, we are proposing a transfer from the General Engineering
Fund of $2,500,000. digital record $100,000
archive program
For FY 2023, the following projects are proposed in
each of the categories:

Infrastructure Maintenance Funding. For FY 2023, we Tanker truck (FY $375,000
are proposing that $1,500,000 be transferred from the 2022 carryover)
SIF to the Facility Maintenance Fund. The purpose of
this fund is to build financial capacity to address future
maintenance projects as our facilities age. Automated
Flagger $75,000

The Facility Maintenance Fund includes budget Assistance Device
requests for roof replacement at the TW King and Capital (AFAD)
Pearson Pump Stations, rebuilding aging Town Hall Acquisition
elevators, and updating water fountains in Town Hall.
UniMac 65lb $18,302
Community Enhancement Funding. This category of Extractor
funding is set aside to provide pay-as-you-go funding
for initiatives which will enhance the quality of life or
aesthetics of Southlake. Additionally, this category of
funding may be used to enhance the city’s ability to Transfer $8,500,000
provide more convenient customer service experiences to CIP
for our customers. This year’s budget proposes
expenditures of $250,000 in this category, to address
the city’s ongoing commitment to master planning by Transfer to
providing funds that may be needed for consulting and Technology Technology $1,000,000
technical studies. Additionally, funds are requested Infrastructure and
to accelerate the digitization of hundreds of large Security Fund
maps and large-scale plans. Records retention laws
require the city to maintain these records but scanning
limitations due to the size of the records and the number of maps/plans have made it impossible to properly digitally
archive these materials. Funding will be used to outsource this extensive effort.

38 FY 2023 City of Southlake | BUDGET BOOK
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