Page 63 - CityofSouthlakeFY25AdoptedBudget

expenditure and revenue assumptions for the multiyear plan and shows a five year forecast.

City Department Overview - This section provides an overview of the various departments and divisions
of the City via department highlights, strategy maps, scorecards and goals. This section is intended to give
the reader an understanding of the core services each department provides as well as performance data
related to those services.

Fund Summaries - This section provides an analysis of each separate fund including revenues, expenditures
and fund balance. For comparative purposes, the immediately preceding fiscal year’s audited figures are Budget Basics
illustrated, as well as current year budget, revised current year and adopted budget for the impending fiscal
year.

General Fund Expenditures - This section provides the General Fund Summary. The General Fund is the
City’s principal operating fund which is supported by taxes, fees, and other revenues that may be used
for any lawful purpose. This fund accounts for all activity not specifically accounted for in other funds and
includes funding for operations such as police, fire, engineering, planning, finance and administration.

Strategic Initiative Fund - This section provides information about the Strategic Initiative Fund. This fund
was created in 2006 for the purpose of taking General Fund balance reserves in excess of the City identified
optimal fund balance level and using them for one-time expenditures for high-impact projects such as
infrastructure maintenance, community enhancement, technology and capital acquisition.

Facility Maintenance Fund - This section provides information about the Facility Maintenance Fund. The
purpose of this fund is to build capacity for annual or future maintenance projects as we will have many
needs to address as our facilities age. The Strategic Initiative Fund has provided regular transfers for this
fund, an important element of our budget given the size and complexity of the City’s facility infrastructure.

Technology Infrastructure & Security Fund - This section provides information about the Technology
Infrastructure & Security Fund. This fund was created in 2017 to build capacity for current and future
technology needs. Expenditures in this fund are used to maintain, enhance and replace technology
infrastructure and enterprise software to ensure the City receives the most reliable and best value with
technology investments.

Economic Development and Investment Fund - The Southlake Economic Development Strategic Plan
includes the following as recommendation ED15: “Maintain ongoing, dedicated funding to achieve economic
development goals by continuing investment in the Economic Development Investment Fund.” This fund
was created in 2013 for that purpose.

Utility Fund - This section provides the Utility Fund Summary. The Utility Fund is an enterprise or business
fund. This means that the direct beneficiaries of the “business” pay for all costs through fees or rates. Water,
sewer service, and solid waste service revenues generated through our rates, as well as the expenses for
providing these services are accounted for in the Utility Fund.

Vehicle Replacement Fund - This section provides a fund summary and detailed spending plan for funds
to manage the purchase of vehicles for the City’s fleet. The establishment and funding of the vehicle
replacement program was designed to even out expenses for the City’s fleet from year to year and provide
a logical method for purchasing and retiring vehicles.

Debt Service Funds & Debt Schedules - This section provides a summary of the annual principal and

FY 2025 City of Southlake | Budget Book 63