Page 296 - Southlake FY24 Budget

Introduction

Each year, the City of Southlake identifies funding for a multi-year Capital Improvements Program (CIP). The
CIP is a tool used for planning and financial management, designed to coordinate the location, timing and
financing of capital improvements over a five-year period.

Capital improvements refer to major expenditures for things like land, buildings, and public
infrastructure, identified for the purpose of advancing the City’s strategic and comprehensive plans.
These improvements typically have a useful life of more than ten years and a value greater than
$10,000. The first year of the Capital Improvements Program is called the Capital Budget and is
appropriated on an annual basis, approved by the City Council each February. The City Council also
considers a multi-year plan along with the Capital Budget. These projects are approved for planning
purposes only and do not receive expenditure authority until they are part of the Capital Budget.

The goals of Southlake’s capital project planning efforts include:

• Ensure timely construction of and/or repair of infrastructure to effectively meet ongoing
community needs, as defined by the City’s strategic and comprehensive plans;

• Establish a methodical approach to public infrastructure funding and construction to eliminate
unanticipated, poorly planned, or unnecessary capital expenditures and to avoid sharp increases in tax
Capital Improvement Projects
rates, user fees, or debt; and,

• Align public projects with community growth patterns and development, as defined by the City’s
comprehensive plans.

Figure 1
296 FY 2024 City of Southlake | Budget Book