Page 51 - Southlake FY23 Budget

BUDGET OvERvIEw

GUIDE TO THE BUDGET DOCUmEnT

Budget 101

A former world leader once said, “It’s clearly a budget. It has a
lot of numbers in it.” And while that’s a true statement about this
budget document, it should be noted that each of these numbers PROPOSED
has purpose and meaning behind it. The annual budget serves
as a policy document, a financial plan, an operations guide, and BUDGET
a communications device for the City. It is the foundation for the FY 2023
City’s allocation of resources toward high quality service delivery
plans, targeted investments, and continued improvements. It also
encapsulates incremental changes addressing service requirements
and builds upon initiatives funded in prior years, while establishing
new direction for programs.

This section explains the meaning behind the numbers which are
presented in subsequent chapters. It gives perspective to the City’s
budgeting process, basis of budgeting and accounting, how the
budget is amended, and the fund accounting system. All of these
components, combined with the City’s Strategic Management System
make up the primary foundation for every City of Southlake budget
document. CITYOFSOUTHLAKE.COM

Budget SectionS

The Budget Document is arranged in 17 sections that are separated by their respective tabs. Below is a brief
description of the materials found in each of the sections.

Transmittal Letter - The Transmittal Letter is written to the City Council by the City Manager and provides a high-
level preview of the City Manager’s proposed budget. It contains information including the proposed tax rate and
proposed fund summaries as well as overviews of the departmental plans. The letter helps tie together the core
elements which make up the proposed budget and illustrates how those elements further the City’s goals found
within the Strategic Management System.

Budget Overview - This section helps explain the meaning behind the numbers presented in subsequent chapters. It
gives perspective to the City’s budgeting process, basis of budgeting, fund accounting system, and an explanation of
factors included in budget development.

City Profile - This section of the budget document offers a quick, effective visual of the City’s financial condition.
We believe the ability to monitor and evaluate the financial condition of a local government is critical to that
government’s successful, prosperous future. Recognizing that trends can provide early warning signals, staff regularly
monitors numerous financial indicators. A list of Council members, an organizational chart, location and a history of
the City is also provided in the City Profile.

Strategic Direction - This section provides information about the City’s Strategic Management System (SMS). Several
years ago the City proposed the SMS, which drives the way the City conducts its business. The department directors
contribute to the SMS by developing a department business plan and aligning their yearly budget proposals to that
plan.

City Department Overview - This section provides an overview of the various departments and divisions of the
City via department highlights, strategy maps, scorecards and goals. This section is intended to give the reader an

50 FY 2023 City of Southlake | BUDGET BOOK
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