Page 247 - CityofSouthlakeFY25AdoptedBudget

Economic Development Investment Fund

The Southlake Economic Development Strategic Plan includes the following
DID YOU as recommendation ED15: “Maintain ongoing, dedicated funding to achieve
GENERAL FUND
KNOW? economic development goals by continuing investment in the Economic
DID YOU
KNOW? Development Investment Fund.” This fund was created in 2013 for that purpose.
Economic Investment Fund
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 124,483 65,000 120,000 55,000 84.6% 120,000 55,000 84.6%
Total Revenues $124,483 $65,000 $120,000 $55,000 0.0% $120,000 $55,000 84.6% Economic Development Investment Fund

EXPENDITURES
Operations $0 $0 $0 $0 0.0% $0 0 0.0%
Capital 0 0 0 0 0.0% 0 0 0.0%
Total Expenditures $0 $0 $0 $0 0.0% $0 $0 0.0%

Net Revenues $124,483 $65,000 $120,000 $55,000 $120,000 $55,000

Transfer from other funds $150,000 $150,000 $150,000 $150,000
Transfer to other funds ($0) ($0) ($0) ($0)
Total Other Sources/(Uses) $150,000 $150,000 $150,000 $150,000

Beginning Fund Balance $2,950,995 $3,225,478 $3,225,478 $3,495,478
Ending Fund Balance $3,225,478 $3,440,478 $3,495,478 $3,765,478

FY 2025 Highlights

- The City’s Southlake Economic Development Master Plan included a recommendation to
continue building an economic development investment fund. We will continue to implement this
recommendation for FY 2025.

- $150,000 will be transferred to this fund, as we work to build a balance for future use.

- No expenditures from this fund are budgeted for FY 2025.

- The ending fund balance will be $3,765,478.

FY 2025 City of Southlake | Budget Book 247