Page 223 - Southlake FY24 Budget

Facility Maintenance Fund

The purpose of this fund is to build capacity for future maintenance projects
as we will have many needs to address as our facilities age. The Strategic

DID YOU Initiative Fund (SIF) has provided seed money for this fund, an important
KNOW? element of our budget given the size and complexity of the City’s facility
DID YOU
KNOW? infrastructure. For FY 2024 we will continue our practice of transferring SIF
money into this fund, but we are also budgeting expenses in the operating
GENERAL FUND
budget for facility projects. Facility Maintenance Fund
Facility Maintenance
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2 2024 Proposed and 2023 Revised Budget t
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$ Increase/ $ Increase/
2022 2023 2023 (Decrease) % Increase/ 2024 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest (29,613) 5,000 280,000 275,000 5500.0% 270,000 265,000 5300.0%
Total Revenues ($29,613) $5,000 $280,000 $275,000 0.0% $270,000 $265,000 5300.0%
EXPENDITURES
Operations $257,501 $0 $0 $0 0.0% $0 0 0.0%
Capital 0 345,000 345,000 0 0.0% 761,296 416,296 120.7%
Total Expenditures $257,501 $345,000 $345,000 $0 0.0% $761,296 $416,296 120.7%
Net Revenues ($287,114) ($340,000) ($65,000) $275,000 ($491,296) ($151,296)
Transfer from other funds $1,000,000 $1,500,000 $1,500,000 $500,000
Transfer to other funds ($0) ($0) ($0) ($0)
Total Other Sources/(Uses) $1,000,000 $1,500,000 $1,500,000 $500,000
Beginning Fund Balance $9,351,440 $10,064,326 $10,064,326 $11,499,326
Ending Fund Balance $10,064,326 $11,224,326 $11,499,326 $11,508,030
FY 2024 Highlights
We will continue our practice of transferring SIF money into this fund, working to meet the goal of
holding a minimum of 10% of the total value of the City’s physical plant in reserve and $500,000 will be
transferred from the SIF.
- Planned FY 2024 expenditures for this fund include DPS main level flooring replacement ($215,000),
Southlake Town Hall elevator modernization ($138,526), Library replacement chairs ($60,000), and the
conversion of the Library family restroom into a storage area ($24,000).

- The projected ending fund balance is $11,508,030, which provides adequate reserves for the program.

FY 2024 City of Southlake | Budget Book 223