Page 7 - CityofSouthlakeFY25AdoptedBudget

TABLE OF CONTENTS

Budget Overview ............................................................................................................................................ 11
The Budget Overview provides a summary of key information included in the adopted budget. The
section begins with the Manager’s Message - a letter written to the City Council by the City Manager
describing budget development considerations and summarizing the high-level goals accomplished
with the budget. The section continues with budget overview information, including the adopted tax
rate and expenditure and revenue analysis and provides adopted fund summaries as well as overviews Table of Contents
of the departmental plans. This section helps tie together the core elements which make up the
adopted budget and illustrates how those elements further the City’s goals found within the Strategic
Management System.

Manager’s Message .......................................................................................................................................................................... 13
Goal: Strategic Alignment & High Quality Service Delivery ......................................................................................... 15
Goal: Alignment with Financial Policies & Financial Management Guiding Principles ................................... 16
Southlake Reserve Funds .............................................................................................................................................................. 17
Goal: Tax Rate Management & Tax Relief .............................................................................................................................. 18
Goal: Employer of Choice ............................................................................................................................................................. 19
Goal: Multi-year Sustainability ...................................................................................................................................................20
Budget Overview ............................................................................................................................................................................. 23
Revenues - Total Operating Resources .................................................................................................................................24
Expenditures - Total Operating Investments ......................................................................................................................30
Debt Profile .......................................................................................................................................................................................... 31
Capital Improvements Program ................................................................................................................................................ 33
Multi-Year Operating Plan ............................................................................................................................................................36
Fund Highlights ................................................................................................................................................................................. 37
General Fund ......................................................................................................................................................................................38
Debt Service Fund ............................................................................................................................................................................ 41
Utility Fund ........................................................................................................................................................................................... 41
Vehicle Replacement Fund .........................................................................................................................................................42
Southlake Parks Development Corporation Fund ...........................................................................................................43
Crime Control and Prevention District Fund ......................................................................................................................45
Community Enhancement & Development Corporation ..............................................................................................46
Economic Development Investment Fund ..........................................................................................................................48
Facility Maintenance Fund ...........................................................................................................................................................49
Technology Infrastructure & Security Fund ........................................................................................................................50
Tax Increment Finance District Fund ...................................................................................................................................... 51
Special Revenue Funds ................................................................................................................................................................. 52
Strategic Initiative Fund ................................................................................................................................................................ 55
Summary .............................................................................................................................................................................................. 57

Budget Basics ................................................................................................................................................59
This section attempts to help explain the meaning behind the numbers which are presented in subsequent
chapters. It gives perspective to the City’s budgeting process, basis of budgeting and accounting, how
the budget is amended and the fund accounting system.

FY 2024 City of Southlake | Budget Book 7