Page 8 - Southlake FY23 Budget

TABLE OF CONTENTS

Transmittal Letter ............................................................................................................. 13
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 Goals................................................................................................................................ 14
Service Delivery Excellence ...................................................................................................... 19
Financial Information and Fund Summaries ....................................................................... 19
General Fund ................................................................................................................................. 19
Debt Service Fund .......................................................................................................................25
Utility Fund ....................................................................................................................................25
Vehicle Replacement Fund ...................................................................................................... 26
Southlake Parks Development Corporation Fund .............................................................27
Crime Control and Prevention District Fund .......................................................................28
Community Enhancement and Development Corporation ............................................ 30
Economic Development Investment Fund ............................................................................31
Facility Maintenance Fund ........................................................................................................32
Technology Infrastructure and Security Fund .....................................................................33
Tax Increment Finance District Fund .....................................................................................33
Special Revenue Funds ............................................................................................................. 34
Strategic Initiative Fund ...........................................................................................................38
Capital Improvements Program .............................................................................................40
Summary ....................................................................................................................................... 45

Budget Overview ............................................................................................................... 47
This section attempts to help explain 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.

City Profile .......................................................................................................................... 71
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 portion of this data is featured in the charts located in this section of the
budget document. These charts offer a quick, effective visual of the City’s financial
condition. A list of Council members, an organizational chart, location and a history of the
City is also provided.

BUDGET BOOK | FY 2023 City of Southlake 7
WWW.CITYOFSOUTHLAKE.COM