Page 26 - Southlake FY24 Budget
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Expenditure highlights.
Personnel: The Utility Fund includes resources needed to manage and operate the City’s utility system. As
noted in the General Fund section of this letter, the budget includes compensation increases and provides
funding for benefit cost increases. No new personnel are requested to be funded through the Utility Fund.
Other highlights: A few highlights of supplemental requests for the Utility Fund are shown in the table
and are specifically related to providing water, and or sewer services.
Total expenditures in the Utility Fund are adopted at $31,378,180 a 14.4% increase from the FY 2023
adopted budget.
Transmittal Letter
Indirect charge/transfers: We have budgeted a transfer of $1,617,064 from the Utility Fund to the General
Fund to cover indirect expenses and for payment of a franchise fee. A transfer of $8,000,000 to the
Capital Improvements Program (CIP) is also budgeted.
Fund balance: The FY 2024 Utility Fund budget provides 192 days of working capital, or $16,548,032. This
exceeds the City’s fund balance policy, 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.”
26 FY 2024 City of Southlake | Budget Book
