Page 302 - Southlake FY24 Budget

FY 2024 Capital Budget Funding - Cash
Following the guiding principles, the CIP is prepared to ensure thoughtful use of all available funding
sources, generally through a combination of cash funding and debt service. The operating budget
establishes funding parameters by fund and for FY 2024, cash funding for capital projects is recommended
as shown in the table below:

Total FY 2024 Cash
Fund Description Funding
Recommended
The General Fund is used to address capital projects such as streets and road construction
General Fund and/or rehabilitation, pathway improvements, improvements to support access as required $8,000,000
by the Americans with Disabilities Act (ADA), and municipal facilities.
The Utility Fund is used to address capital projects such as water and sewer infrastructure
Utility Fund and city facilities. Projects include water lines, pump station improvements, storage facilities, $8,000,000
sewer lines, lift station pumps, and facilities needed to support the City’s utility system.
Southlake Parks Funded by a voter-approved half-cent sales tax, these dollars are allocated for the ongoing
Development Corpora- design and development of the city’s park system, and dollars for matching donations for $5,500,000
tion park improvements.
Fees collected from residential and commercial property owners provide dollars to improve
Storm Water Utility Fund storm water management in the city. For FY 2024, funds will be allocated from this fund in $650,000
an amount not to exceed $XX for this purpose.
Crime Control and A portion of the taxes collected from this voter-approved District are used to fund capital
Prevention District projects. $334,500
Capital Improvement Projects
Community
Enhancement and
Development Another voter-approved District, the CEDC budget includes funds for capital projects. $241,000
Corporation

Public Art Fund Hotel Occupancy Tax (HOT) funds provide the resources for public art initiatives. $400,000

Hotel Occupancy Tax HOT funds can also be used for projects designed to bring visitors to the city. $200,000
Fund

The Capital budget submitted to the City Council will include recommendations for projects funded with
these cash allocations as well as debt. Funding plans for each project will identify the use of funding
sources that align with the CIP Guiding Principles. Cash funding allocated in the FY 2024 Operating
Budget totals $23,325,500 across all funds. This funding will support projects that advance mobility, water,
wastewater, storm water, parks, community enhancements, and facilities goals, finalized when City Council
adopts the Capital Budget and CIP. City staff will present a CIP implementation plan to in February 2024,
that plan will include:

- Detailed funding schedule identifying cash and debt funding by funding source
- Project information sheets that include a description of project, pertinent project details as well as
funding and expenditure schedules

- Operating budget impact summary
- Multi-year plan

Current Capital Project Status
The FY 2023 Capital Budget included funding for 36 projects, totaling $44,273,000. For information about
the status of these and previously-funded projects, please visit the City’s website at
www.CityofSouthlake.com/CIP.

302 FY 2024 City of Southlake | Budget Book