Page 41 - Southlake FY24 Budget

Strategic Initiative Fund
Strategic Initiative Fund

At the end of each fiscal year, General Fund Expenditure Highlights
excess revenue (including indirect transfers from
other funds) and unspent appropriation become a Infrastructure Maintenance
part of the City’s fund balance, or reserves. When Item Expenditure
reserves exceed the optimum level, the excess
is transferred to the Strategic Initiative Fund Transfer to Facility $500,000 Transmittal Letter
(SIF), providing cash funding for needed projects Maintenance Fund
without requiring the city to borrow money for Community Enhancement
them.

Southlake
Implemented in 2006, the SIF has been used for Comprehensive Plan $120,000
non-recurring expenses and high impact projects. Updates
Figure 11 shows the uses of the SIF since its
inception. Large Plans and
Historical Maps $100,000
Scanning Project
The beginning SIF fund balance is $8,105,197. For
FY 2024, a transfer from the General Fund of Capital Acquisition
$3,700,000 is budgeted.
Transfer to CIP $8,000,000
For FY 2024, the following projects are included
in each of the categories: LIFEPAK CR2 $123,328
Defibrillator

Infrastructure Maintenance Funding. For FY
2024, $500,000 will be transferred from the SIF Ballistic Protection $102,942
Equipment
to the Facility Maintenance Fund. The purpose of
this fund is to build financial capacity to address Technology
future maintenance projects as our facilities age.
Transfer to
Technology
Community Enhancement Funding. This Infrastructure and $500,000
category of funding is set aside to provide pay-as- Security Fund
you-go funding for initiatives which will enhance
the quality of life or aesthetics of Southlake.
Additionally, this category of funding may be
used to enhance the city’s ability to provide more TECHNOLOGY
convenient customer service experiences for our 12.0%
customers.

CAPITAL ACQUISITION
This year’s budget includes expenditures of 8.9% FACILITY PROJECTS
0.3%
$220,000 in this category.

FACILITY RESERVES
9.9%
URBAN DESIGN/MASTER PLAN
CIP TRANSFER SUPPORT
65.8% 0.9%
PUBLIC ART
Capital Acquisition Funding. The SIF is 0.1%
COMMUNITY ENHANCEMENT
2.2%
Figure 11

FY 2024 City of Southlake | Budget Book 41