Page 36 - CityofSouthlakeFY25AdoptedBudget

The CIP implementation plan will establish a five-year funding schedule for priorities. The first year of the plan
(FY 2025) is the capital budget planned for immediate implementation. Projects approved for subsequent
years (FY 2026 – FY 2029) will be adopted for planning purposes only and will not have expenditure
authority until approved as part of subsequent capital projects.

Multi-Year Operating Plan
As the annual budget is developed, it is important to provide high quality services that are sustainable. We
must look beyond the current budget year to properly plan for future operations and to analyze the impact
current decisions will have on long-term financial objectives. In this regard, staff has prepared a multi-year
plan in conjunction with the FY 2025 Adopted Operating Budget.

The multi-year plan assumes conservative revenue growth and conservative property tax rate management
guided by tax relief goals. The plan assumes no service level reductions and provides for growth in
Budget Overview
expenditures due to inflation and other known market pressures and cost drivers. Additionally, this plan
includes the infrastructure development costs planned for in the City’s Capital Improvements Program
adopted in February 2024 and contemplates adjustments needed to implement the City’s compensation
philosophy and remain an employer of choice.

Please reference the Multi-Year Operating Plan section of this document for detailed information regarding
the assumptions and budget components used to develop the multi-year plan. This section also includes an
overview of the City’s designated reserves as an element of the multi-year considerations.

36 FY 2025 City of Southlake | Budget Book