Page 55 - CityofSouthlakeFY25AdoptedBudget

Strategic Initiative Fund Strategic Initiative Fund

At the end of each fiscal year, General Fund excess Expenditure Highlights
revenue (including indirect transfers from other
funds) and unspent appropriation become a part of Infrastructure Maintenance
the City’s fund balance, or reserves. When reserves Item Expenditure
exceed the optimum level, the excess is transferred Transfer to
to the Strategic Initiative Fund (SIF), providing Facility Maintenance $1,500,000
cash funding for needed projects without requiring Fund Budget Overview
the city to borrow money for them.
Community Enhancements
Implemented in 2006, the SIF has been used for Southlake
non-recurring expenses and high impact projects. Comprehensive Plan $100,000
Figure 20 (following page) shows the uses of the Updates
SIF since its inception.
Records Management
System Enhancements $102,000
The beginning SIF fund balance is $5,097,961.
For FY 2025, a transfer from the General Fund of
$3,600,000 is budgeted. Capital Acquisition

For FY 2025, the following projects are included in Fire Department KNOX $7,928
each of the categories: MedVaults

Fire Department
Infrastructure Maintenance Funding. For FY Gear Dryer $28,000
2025, $1,500,000 will be transferred from the SIF
to the Facility Maintenance Fund. The purpose of Fire Department
this fund is to build financial capacity to address EMS Equipment $25,000
future maintenance projects as our facilities age.
Technology
Community Enhancement Funding. This category
Transfer to Technology
of funding is set aside to provide pay-as-you-go Infrastructure & Security $1,000,000
funding for initiatives which will enhance the quality Fund
of life or aesthetics of Southlake. Additionally, this
category of funding may be used to enhance the
city’s ability to provide more convenient customer
service experiences for our customers.

This year’s budget includes expenditures of $202,000 in this category.

Capital Acquisition Funding. The SIF is often used to provide cash funding for capital equipment or projects.
For FY 2025, $3,500,000 will be transferred from the SIF to the Capital Improvements Program for the
purpose of building infrastructure and planned facilities. This year’s budget includes additional expenditures
of $60,928 in this category, to address capital purchases needed for Fire Department operations.

Technology. To support the concept of high-performance management and strong service delivery, Council
has identified strategic corporate objectives that emphasize future-readiness and strong risk management.
The Strategic Initiative Fund has traditionally covered the cost of high impact technology solutions for the
City.

FY 2025 City of Southlake | Budget Book 55