Page 12 - Southlake FY24 Budget

August 15, 2023

Honorable Mayor and
Members of the City Council

1400 Main Street, Suite 270 FY 2024 Budget
Southlake, Texas 76092
Accomplishments

Dear Mayor and Members of the City Council,
Tax Rate Reduction
Transmittal Letter
In accordance with the Texas Local Government Code and Maximum Homestead Exemption
the Charter of the City of Southlake, the adopted annual
budget for the fiscal year beginning October 1, 2023, Optimum Fund Balances

and ending September 30, 2024, has been submitted
Debt Management
for your consideration. The budget presents a summary
of the revenues and expenditures for each of the funds Cash Funding for Capital Projects
comprising the City’s budget and provides information

about how planned resource allocation advances the Structural Balance
City’s strategic priorities.
Strong Net Revenues

Budget Goals Limited Expenditure Growth

The FY 2024 adopted budget has been developed
with a clear set of goals to guide decision-making and Multi-Year Sustainability
promote long-term financial sustainability.
Competitive Compensation & Benefits

The first goal is to support the City’s strategic priorities No Service Level Reductions
and ensure high-quality service delivery. Figure 1 is the
City of Southlake Strategy Map, illustrating the City’s
focus areas, objectives, critical business outcomes, and

values that guide City work. For more information about
the City’s future direction, please see the Strategic
Direction section of
the budget document.

The FY 2024 adopted budget
DID YOU includes a four cent tax rate
DID YOU
KNOW? reduction, reducing the tax rate
KNOW?
for a sixth consecutive year.

12 FY 2024 City of Southlake | Budget Book