Page 15 - Southlake FY24 Budget

Figure 3

Long-term Debt as a Percentage of Assessed Valuation

LONG-TERM DEBT DEBT AS % OF ASSESSED VALUATION
3.50% $120,000,000

2.79% $100,000,000 Transmittal Letter
3.00%
3.01%
2.50% 2.36%
2.07% 2.00% 1.71% $80,000,000

PERCENTAGE OF VALUATION 1.50% 1.46% 1.49% 1.51% 1.49% 1.37% 1.19% 1.12% 0.92% $60,000,000 DOLLARS
2.00%

$40,000,000
1.00%

0.50% 0.72% 0.58% 0.44% 0.34% 0.27% 0.22% 0.24% 0.28% $20,000,000

0.00% $-
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024
FISCAL YEAR

Another important financial goal is ensuring the maintenance of optimum fund balances in operating
funds. This budget provides for optimum fund balances, see Figure 4.

More than 70% of the City’s General Fund budgeted expenditures are related to personnel costs. It is the

City’s goal to continue to provide for a fair compensation and benefits program to ensure a stable and
high-performing workforce. This budget recognizes and addresses the competitive labor market and the
need to recruit and retain strong talent.

Multi-year financial planning is another budget development consideration, one of the most important.
Executive leaders evaluate the operational impact of all identified projects and include those costs in
future budget projections. Staff monitors trends that depict the long-term financial health of the City and
uses these trends to make decisions to reach financial and service goals.

The City has taken an additional formal step to understand and plan for the organization’s financial future
by adopting the Sustainability Master Plan as an element of the Southlake Comprehensive Plan. It contains
formal recommendations to ensure positive financial outcomes for the City. The Sustainability Master Plan

is in the appendix of this document.

FY 2024 City of Southlake | Budget Book 15