Page 40 - CityofSouthlakeFY25AdoptedBudget

the City’s insurance provider, the FY 2025 adopted General Fund budget includes $394,000 to account
for these rate increases and provide funding for the cost of employee dependent coverage. Funding in the
amount of $248,303 is also included to meet the City’s required contribution rates and desired amortization
goals for retirement benefits through TMRS.

It’s also important to note that staffing levels supported by the General Fund remain generally consistent
with FY 2024 staffing. However, in an effort to ensure that funded positions are aligned with service
level demands, the City has frozen three positions while business demand is evaluated: Planning Manager,
Municipal Court Clerk and Fire Prevention Officer. These frozen positions were vacated through normal
attrition and the City has reassigned workload to existing staff during the past fiscal year. Service levels will
continue to be monitored and if necessary, positions will be filled in the future if service demands exceed
existing capabilities.

Budget Overview
In total, FY 2025 personnel expenditures are adopted
to increase $1,276,938. These expenditure increases
represent 68.5% of the General Fund expenditure
growth.

Operations: The General Fund includes the operational
Maintaining a fund balance at the optimum
dollars needed to provide basic services such as police level identified in the City’s policy addresses
and fire, public works, parks, recreation, library services, the focus area of Performance Management
and inspections. There are requests that maintain the & Service Delivery and the strategic
City’s current service levels but require additional corporate objective of “Safeguarding
the public trust through a commitment
funding to do so. The full list of expenditure highlights to thoughtful planning and responsible,
can be found in the General Fund expenditure highlight conservative financial management.
tables.

Service enhancements: There are no requests within
the General Fund for enhancements to existing services.

Transfers from General Fund to Other Funds: The General Fund is the source of funding for several important
other funds that support the maintenance of critical infrastructure or the acquisition of heavy equipment.
These transfers flow from the General Fund to the Strategic Initiative Fund and total transfers from the
General Fund for FY 2025 for this purpose are adopted at $7,000,000. See the Strategic Initiative Fund
information for a detailed list of transfer funding.

Fund balance. The City of Southlake Fund Balance Policy, adopted in 1993, states that the “goal shall be
to maintain a fund balance in the General Fund equal to a minimum of 15% of General Fund-budgeted
operating expenditures, with the optimum goal of 25%.”

The adopted budget reflects an undesignated General Fund balance of 25.64% of expenditures, which
represents $13,969,152, and falls within the fund balance requirements defined in the City’s policy.

Excess revenue and unspent appropriation above the 25% level are set aside for critical, high-impact projects
as a transfer to the Strategic Initiative Fund (SIF). Details about the transfer into the SIF and the use of these
dollars can be found later in this overview.

40 FY 2025 City of Southlake | Budget Book