Page 235 - Southlake FY24 Budget

UTILITY FUND
Utility Fund 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
Miscellaneous $69,294 $74,500 $123,000 $48,500 0.0% $14,500 ($60,000) 0.0%
Interest Income (88,762) 15,000 460,000 445,000 2966.7% 425,000 410,000 2733.3%
Water Sales-residential 19,473,110 16,923,900 17,550,900 627,000 3.7% 19,000,400 2,076,500 12.3%
Water Sales-commercial 5,422,680 4,827,200 5,050,100 222,900 4.6% 5,400,200 573,000 11.9% Utility Fund Expenditures
Sewer Sales 9,346,288 9,240,000 8,900,400 (339,600) -3.7% 12,576,000 3,336,000 36.1%
Sanitation Sales 2,536,160 2,663,800 2,683,800 20,000 0.8% 2,729,700 65,900 2.5%
Other utility charges 371,943 400,800 320,800 (80,000) -20.0% 280,800 (120,000) -29.9%
Total Revenues $37,130,713 $34,145,200 $35,089,000 $943,800 2.8% $40,426,600 $6,281,400 18.4%
EXPENSES
Debt Service 3,325,032 3,322,878 3,322,878 0 0.0% 3,277,304 (45,574) -1.4%
Utility Billing 578,358 702,298 713,564 11,266 1.6% 732,361 30,063 4.3%
Water 14,723,613 15,139,616 14,903,582 (236,034) -1.6% 15,533,392 393,776 2.6%
Wastewater 5,238,583 6,190,399 6,148,162 (42,237) -0.7% 9,693,123 3,502,724 56.6%
Sanitation 1,982,235 2,082,000 2,100,000 18,000 0.9% 2,142,000 60,000 2.9%
Total Expenses $25,847,821 $27,437,191 $27,188,186 ($249,005) -0.9% $31,378,180 $3,940,989 14.4%
Net Revenues $11,282,892 $6,708,009 $7,900,814 $1,192,805 $9,048,420 $2,340,411
Transfers In $0 $0 $67,091 $0
Transfers Out (17,488,830) (11,120,808) (11,158,560) 37,752 (9,617,064)
Total Other Sources (Uses) ($17,488,830) ($11,120,808) ($11,091,469) ($9,617,064)
Beginning working capital $26,513,269 $20,307,331 $20,307,331 $17,116,676
Ending fund balance $20,307,331 $15,894,532 $17,116,676 $16,548,032
No. of days working capital 287 211 230 192
FY 2024 Highlights
- The Utility Fund revenues are projected at $40,426,600 for an increase of $6,281,400. This is a 18.4%
increase when compared with the FY 2023 Adopted Budget.
- Personnel: The Utility Fund includes resources needed to manage and operate the City’s utility system.
This fund will cover its portion of employee pay adjustments and the increases in benefit costs as
described in the General Fund portion of the Transmittal Letter.

- Other expenditures: Funding has been requested for equipment and facility improvements including
the control value rebuild for the PS1 and Miron Elevated Storage Tanks ($60,000), the chemicals and
electricity for the residual control system at Pump Station 1 ($46,500), Lead and Copper Rule Revisions
(LCRR) Program ($405,718), and sewer tap installations ($20,000).

- The Adopted FY 2024 Utility Fund budget provides 192 days of working capital. This exceeds the City’s
fund balance policy for the Utility Fund, which states that the “…goal shall be to maintain a fund balance
of 60 days of working capital in the Utility Fund…with the optimum goal of 90 days of working capital.”

FY 2024 City of Southlake | Budget Book 235