Page 43 - Southlake FY24 Budget

Capital Improvement Program

Each year, the City of Southlake identifies funding for a multi-year Capital Improvement 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, Transmittal Letter
identified for the purpose of advancing the City’s strategic and comprehensive plans.

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

1. 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;
2. 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
rates, user fees, or debt; and,
3. Align public projects with community growth patterns and development, as defined by the City’s
comprehensive plans.

Preparation of the City’s annual budget and the CIP are closely linked. As part of the operating budget,
financial resources are identified and allocated in accordance with established guiding principles shown
below in Figure 13. The five-year implementation plan, identifying specific projects, funding sources,
and priorities, will be considered and adopted by Council in February 2024. Projects included in the
implementation plan will address needs identified in the Southlake Comprehensive Plan.

CIP Guiding Principles Figure 13

FY 2024 City of Southlake | Budget Book 43