Page 38 - CityofSouthlakeFY25AdoptedBudget

General Fund

The General Fund is the City’s principle operating fund, and is supported by property tax, sales tax, fees,
and other revenue. General Fund revenue may be used for a variety of purposes, and this budget accounts
for core City services such as police and fire protection, engineering, planning, finance, and administrative
oversight.

Revenue highlights. The adopted FY 2025 budget projects $58,950,524 in General Fund revenues, an
increase of $3.1 million or 5.6% from the FY 2024 adopted budget.

Staff is estimating $28,487,889 in property tax revenue, an estimated increase of $347,282 or 1.2% over
the FY 2024 adopted budget. This projected revenue reflects the adopted tax rate decrease discussed
previously in this overview.

Budget Overview
Compared with the FY 2024 amended budget, staff forecasts that sales tax revenue will grow approximately
2% for the coming fiscal year, expecting to collect almost $22 million in sales tax in the General Fund for FY
2025.

Franchise fees collected from private utility companies operating in the city provide another source of
General Fund revenue. For FY 2025, $3,453,329 is budgeted as a revenue from this source, a projected
increase of 16.2% when revenue is compared to the FY 2024 adopted budget. Fine collections, another
source of revenue, are expected to be flat when compared to FY 2024, totaling $743,500 in FY 2025.

The adopted budget anticipates $1,414,100 in revenue from permits and fees in FY 2025.

Staff is estimating that 50 residential building permits will be issued during FY 2025, which is comparable
to FY 2024 projections. However, General Fund Revenue by Source
revenue from commercial permits
is expected to decline an estimated , Z' ^ &KZ ^ Zs/ ^ W ZD/d^ ͬ & ^ D/^ >> E Kh^
5.7% when compared to the adopted Ϯ͘ϳй Ϯ͘ϰй Ϭ͘ϲй /Ed Z ^d /E KD
ϭ͘ϲй
&/E ^
FY 2024 budget due to mandated ϭ͘ϯй
legislative changes in how the City
may calculate the inspection fees
&Z E ,/^
related to development. d y ^
ϱ͘ϵй

Revenue from charges for services
is estimated at $1,598,336, which
represents a 1.0% increase from
the FY 2024 adopted budget. s >KZ D d y
This category of revenue includes ϰϴ͘ϯй
interlocal contributions from the
cities of Grapevine, Colleyville, ' E Z > &hE ^ > ^ d y
ϯϳ͘ϯй
and Keller for the joint Teen Court
program.

As previously noted, total General
Fund operating budget revenues
are expected to increase by 5.6%
for FY 2025, a moderate increase
Figure 19

38 FY 2025 City of Southlake | Budget Book