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