Page 21 - Southlake FY24 Budget

Revenue from charges for services is estimated at $1,582,723, which represents a 21.0% increase from the
Transmittal Letter
FY 2023 adopted budget. This category of revenue includes interlocal contributions from the cities of
Grapevine, Colleyville, and Keller for the joint Teen Court program.

As previously noted, total General Fund operating budget revenues are expected to increase by 3.5% for
FY 2024, a moderate increase. This overall revenue growth reflects the adopted tax rate reduction and
ongoing use of the 20% homestead exemption.

Figure 10 on the next page shows the distribution of General Fund revenue sources.

The General Fund also recognizes $2,767,240 that will be transferred in from other funds to cover indirect
costs borne by the General Fund. For FY 2024, indirect charges are not needed to balance the General
Fund budget. The transfer will go straight to the budget’s bottom line, ensuring an optimum fund balance.

Expenditure highlights. The General Fund accounts for 41% of the city’s operational expenses. FY 2024
expenditures total $52,625,123 and represent a 9.0% increase over the FY 2023 adopted budget.

For FY 2024, more than 70% of planned expenses are personnel-related, reflecting the nature of the
municipality as a service organization. These costs include compensation, benefits, and other expenses.
Changes to the budget for these expenses are shown below:

Positions: No new positions are included for the General Fund.

Sales Tax Collection Trend

GENERAL FUND COMMUNITY ENHANCEMENT & DEVELOPMENT CORPORATION
SOUTHLAKE PARKS DEVELOPMENT CORPORATION CRIME CONTROL & PREVENTION DISTRICT
$45,000,000

$40,000,000

$35,000,000
$21,047,369
$30,000,000 $19,908,000 $19,908,000
$18,598,638
$25,000,000
DOLLARS $20,000,000 $15,104,616 $15,660,985

$7,859,995
$15,000,000 $6,851,800 $7,423,500 $7,423,500
$5,734,078 $5,858,223
$10,000,000
$9,249,931 $10,610,993 $9,898,000 $9,898,000
$5,000,000 $7,741,005 $7,908,601

$- $1,898,389 $1,921,480 $2,814,078 $2,567,974 $2,424,000 $2,424,000
2019 2020 2021 2022 2023* 2024**
FISCAL YEAR

Figure 9

FY 2024 City of Southlake | Budget Book 21