Page 354 - Southlake FY24 Budget

Southlake Sustainability Plan: Financial Wellness

[SOUTHLAKE 2030] Sustainability Master Plan

Economic/Fiscal Wellness
Ensure monetary resources are provided in a fiscally conservative manner necessary to support the community’s
needs.
Vision,
Appendix
Recommendation / Goals & Department Priority
No. Implementation Metric Strategic Link
Policy Objectives Responsible Tier
Tie
Apply sound financial
policies to the City’s
budget by maintaining
structural balance, Performance
strong reserves, Fully implement the “True Cost” Management
EFW1 & Service 2.3 FIN 1
conservative budgeting, analysis model.
effective economic Delivery; F1,
F3
analysis and
understanding the true
cost of doing business

Performance
Implement debt management
Apply debt management Management
EFW2 strategies to the City’s strategies such as the Strategic & Service 2.3 FIN 1
Initiative Fund (cash funding)
budgeting Delivery; F1,
and appropriate amortization.
F3
Adhere to established financial
Fund and adopt annual policies such as the Performance
City operating budget, Reserve/Fund Balance policy, Management
EFW3 capital projects and Budget Principles and & Service 2.3 FIN 1
equipment through Infrastructure/equipment Delivery; F1,
sound financial policies replacement when developing F3, F4
the City’s budget.

Ordinance No. 1104, Adopted February 17, 2015 [SOUTHLAKE 2030] 64

354 FY 2024 City of Southlake | Budget Book