Page 304 - CityofSouthlakeFY25AdoptedBudget

Public Art Fund

DID YOU The Public Art Fund was established to account for funding that is available
KNOW? for the promotion, creation, and/or installation of public art throughout the
DID YOU
KNOW? City of Southlake. Public Art
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
Miscellaneous $550 $0 $0 $0 0.0% $0 $0 0.0%
Interest Income $22,396 $9,000 $19,000 $10,000 111.1% $19,000 $10,000 111.1%
Special Revenue Funds
Total Revenues $22,946 $9,000 $19,000 $10,000 $19,000 $0
EXPENDITURES
Operations $63,492 $77,546 $73,246 ($4,300) -5.5% $75,800 ($1,746) -2.3%
Capital $0 $0 $0 0 0.0% $0 0 0.0%
Total Expenditures $63,492 $77,546 $73,246 $0 0.0% $75,800 ($1,746) -2.3%

Net Revenues ($40,546) ($68,546) ($54,246) $14,300 ($56,800) $11,746
Transfers In-Hotel $309,000 321,825 362,250 40,425 370,838 $49,013
Transfers Out - (100,000) (400,000) (400,000) 0 (400,000) $0
Total Other Sources (Uses) $209,000 ($78,175) ($37,750) $0 ($29,163)

Beginning Fund Balance $441,985 $610,439 $610,439 $518,443
0 0 0 0
Ending Fund Balance $610,439 $463,718 $518,443 $432,481

FY 2025 Highlights

- The budget shows $19,000 in interest income based on a beginning fund balance of $518,443.

- The law providing for the Hotel Occupancy Tax allows up to 15% of the revenues to be used for public art
purposes. Because this source of funding comes in the form of a transfer, it is shown “below the line.” For
FY 2025, this transfer of $370,838 is budgeted.

- Expenditures are estimated at $75,800. The Public Art Fund will provide the source of support for the
City’s ongoing relationship with the APEX Arts League, Arts Council – Northeast, and the Southlake Arts
Council by providing funding for various projects such as public art displays and event support. The
budget also includes a transfer of $400,000 to the CIP for implementation of the Southlake Public Art
Comprehensive Plan.

- The ending fund balance for the Public Art Fund is estimated at $432,481.

304 FY 2025 City of Southlake | Budget Book