Page 16 - Southlake FY24 Budget
P. 16
Figure 4
Southlake Reserve Fund Balances
Southlake
Reserve Funds
Transmittal Letter
General Total
Fund Reserves
$13.2M $121.3M
Special
Purpose Restricted
Reserves Reserves
$32.6M $75.4M
General Fund Special Purpose Reserves
Per the Fund Balance Policy, The City has several funds where
the undesignated fund balance the use of each fund’s reserves
in the General Fund should Restricted Reserves was specified when the fund was
range between 15% and 25% The use of reserves in restricted created. While not restricted by
of operating expenses. For FY funds is dictated by Statute, Statute, the use is designated in
2024, $13.2 million will remain unlike the General Fund reserves accordance with the purpose of
in the General Fund, providing whose use is not restricted. the fund and is not as flexible as
25.1% of operating expenses for These include: Utility, Debt the General Fund. These include:
unanticipated or emergency Service, TIF, CCPD, Storm Reforestation, Park Dedication,
needs. Use of these funds is Water, Commercial Vehicle Parks and Recreation, Library,
unrestricted. Enforcement, Hotel Occupancy Vehicle Replacement, Strategic
Tax, Court Security/Technology, Initiative, Facility Maintenance,
Red Light Camera, Recycling, Economic Investment, Public Art,
CEDC, and SPDC funds. and Technology Infrastructure
and Security funds.
16 FY 2024 City of Southlake | Budget Book
