Page 25 - Southlake FY24 Budget

Debt Service Fund Utility Fund
Expenditure Highlights
For FY 2024, revenues are estimated at
Personnel
$5,957,343, with $5,862,343 coming from ad
valorem taxes, and $95,000 from interest Item Expenditure
income. Transfers into the fund are budgeted at Up to 4.5% combined
$397,341 to pay the debt service for the bonds Pay Adjustment Merit and Market Transmittal Letter
issued for storm water improvements. Total
expenditures are adopted at $6,769,139 for
annual principal and interest payments, as well Health Insurance 6.9% rate increase
as related administrative costs.
Operations - Legislative Impact
The Debt Service Fund is projected to end the
2024 fiscal year with reserves of $2,578,932. Lead & Copper Rule $405,718
The fund balance allows us to meet our debt Revisions Program
service fund balance policy which states that the
City of Southlake “…shall also maintain Reserve Fifth Unregulated
Contaminant
Funds for all statutorily required reserve funds to Monitoring Rule $8,200
guarantee debt service.” Sampling and
Analysis

Operations
Utility Fund
Control Valve Rebuild
- PS1 and Miron
The Utility Fund is used to account for the Elevated Storage $60,000
acquisition, operation, and maintenance of Tanks
Southlake’s municipal water and sewer utility, Chemicals and
supported primarily by user charges to utility Electricity for
customers. The fund accounts for operational Residual Control $46,500
costs as well as debt service for utility system System at Pump
Station 1
improvement bonds. The intent of this fund is
for the direct beneficiaries to pay for all costs
Contract Services
of the fund – including debt service – through Increase - Regulatory $23,404
fees levied for the services provided. Revenue Sampling
and expenses related to garbage service are also
accounted for in the Utility Fund.

Revenue highlights. The Utility Fund revenues Sewer Tap $20,000
are projected at $40,426,600 for an increase Installations
of $6,281,400. This is a 18.4% increase when
compared with the FY 2023 adopted budget.
Inspection
of Electrical
Components for Lift $12,500
Station Controls

FY 2024 City of Southlake | Budget Book 25