Page 34 - Southlake FY24 Budget

Facility Maintenance Fund

Using the Strategic Initiative Fund (SIF), the City was able to establish a fund to set aside dollars for
facility maintenance as recommended by the City’s Sustainability Plan. For FY 2024, we will continue our
practice of transferring SIF money into this fund, working to maintain the plan goal of holding 10% of the
total value of the City’s physical plant in reserve.

In FY 2024, a transfer of $500,000 from the SIF is budgeted.

City staff currently manages over 876,000 square feet of facility infrastructure. Smaller daily maintenance
efforts of the facilities are absorbed into the various operating budgets. However, it is important to have a
proactive maintenance program that addresses large scale projects.

Transmittal Letter
Ending fund balance is projected at $11,508,030, which represents 9.0% of the total value of the City’s
physical plant.

Facility Maintenance Fund
Expenditure Highlights

Operations
Item Expenditure
DPS Headquarters
Main Level Flooring $215,000
Replacement

Town Hall Elevator $138,526
Modernization

Library Replacement $60,000
Chairs

Convert Library
Family Restroom into $24,000
Storage

Southlake Sustainability Master Plan

EFW3: Fund and “The Facility
adopt annual City Maintenance Fund The FY 2024 budget
operating budget, should maintain a includes a transfer
capital projects and reserve equivalent from the Strategic
Initiative Fund of
equipment through of 10% of total City $500,000 towards
sound financial facility asset value.”
policies. this goal.

34 FY 2024 City of Southlake | Budget Book