Page 219 - Southlake FY24 Budget
P. 219

Current Considerations

          The use of the SIF as a budget technique for future years depends on several factors:

          •   The City’s ability to meet its operational expenses with a structurally balanced budget for the current
              budget year and in a multi-year context;
          •   The City’s ability to maintain a fund balance within policy parameters;
          •   The City’s capital needs and its ability to fund those in a timely manner to ensure infrastructure needs
              are addressed appropriately; and,                                                                           Strategic Initiative Fund
          •     Tax rate management.


          Summary
          The SIF is an innovative budgeting technique that provides funding for one-time, high impact projects.
          Since the City began using the concept in 2006, more than 65% of the funds have been directed to the
          CIP for cash funding of infrastructure needs.  The fund has also been used for equipment purchases and
          to build a facility maintenance reserve fund, among other things.



          Strategic Initiative Fund Expenditures by Type: FY 2024





                                        TECHNOLOGY                        INFRASTRUCTURE
                                       INFRASTRUCTURE  COMMUNITY ENHANCEMENT   MAINTENANCE
                                           4%               2%                 4%








                                   UNALLOCATED
                                       16%
















                                                                 CAPITAL ACQUISITION
                                                                       74%





                                                                                             Figure 2





                                                                                FY 2024 City of Southlake  |  Budget Book   219
   214   215   216   217   218   219   220   221   222   223   224