Page 236 - CityofSouthlakeFY25AdoptedBudget

Strategic Initiative Fund

The City of Southlake’s Fund Balance Policy states, “The City of Southlake’s
goal shall be to maintain a fund balance in the General Fund equal to a
DID YOU minimum of 15% of General Fund budgeted operating expenditures, with the
KNOW? optimum goal of 25%.” Since 2006, any dollars beyond the optimal goal of
DID YOU
KNOW? 25% have been transferred to the Strategic Initiative Fund with uses limited
GENERAL FUND
Strategic Initiative Fund
to one-time, non-recurring expenses.
2025 Proposed and 2024 Revised Budget

$ Increase/ $ Increase/
2023 2024 2024 (Decrease) % Increase/ 2025 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest 143,946 70,000 198,000 128,000 182.9% 198,000 128,000 182.9%
Total Revenues $143,946 $70,000 $198,000 $128,000 0.0% $198,000 $128,000 182.9%
EXPENDITURES
Strategic Initiative Fund
Infrastructure Maintenance $0 $0 $0 $0 0.0% $0 0 0.0%
Community Enhancement 96,841 220,000 220,000 0 0.0% 202,000 (18,000) -8.2%
Technology Infrastructure 0 0 0 0 0.0% 0 0 0.0%
Capital Acquisition 1,189,033 336,996 336,996 0 0.0% 60,928 (276,068) -81.9%
Total Expenditures $1,285,874 $556,996 $556,996 $0 0.0% $262,928 ($294,068) -52.8%

Net Revenues ($1,141,928) ($486,996) ($358,996) $128,000 ($64,928) $422,068
Transfer from other funds $7,800,000 $3,700,000 $7,800,000 $3,600,000
Transfer to other funds (11,000,000) (9,000,000) (10,700,000) (6,000,000)
Total Other Sources/(Uses) ($3,200,000) ($5,300,000) ($2,900,000) ($2,400,000)

Beginning Fund Balance $12,698,885 $8,356,957 $8,356,957 $5,097,961
Ending Fund Balance $8,356,957 $2,569,961 $5,097,961 $2,633,033

FY 2025 Highlights
Infrastructure Maintenance Funding: $1,500,000 will be transferred from the SIF to the Facility Maintenance
Fund. The purpose of this fund is to build capacity for future maintenance projects as we will have many
needs to address as our facilities age.

Community Enhancement Funding: This category of funding is set aside as a way to provide pay-as-
you-go funding for initiatives which will enhance the quality of life or aesthetics of Southlake. For FY 2025
community enhancement projects include: $100,000 for the Southlake Comprehensive Master Plan updates
and $102,000 for improvements to the city’s records management system.

Capital Acquisition Funding: $3,500,000 will be transferred from the SIF to the Capital Improvements
Program for the purpose of building infrastructure. This cash funding will reduce the amount of bonds the
City will need to issue for General Fund CIP projects in FY 2025. Additionally, this budget includes: $28,000
for a Personal Protective Equipment (PPE) Gear Dryer, $25,000 for EMS equipment including an IV pump
replacement, and a 360 Cardiac Monitor Simulator, and $7,928 for narcotic medication vaults replacement
for the Fire Department.

Technology: $1,000,000 will be transferred from the SIF to the IT Infrastructure & Security Fund to cover
technology infrastructure expenses.

236 FY 2025 City of Southlake | Budget Book