Page 74 - CityofSouthlakeFY25AdoptedBudget

FY 2025 Adopted Budget

FY 2025 Adopted Budget - $130.5 Million

General Fund - $54.5 Million
Supports most basic city functions,
such operations as police, fire,
engineering, planning, finance and
Budget Basics
administration.

Other Funds - $76 Million
These funds are restricted by law
on their use, and includes Utility
Fund, Hotel Occupancy Tax Fund,
sales tax funds, and all other special
revenue funds.

Figure 4

FY 2025 Budget Fast facts

Structural Balance
The FY 2025 adopted budget is a structurally balanced budget while maintaining alignment
with our financial principles and without reducing service levels.

Taxpayer Relief
For FY 2025, the City of Southlake has adopted a 1.4 cent property tax decrease. The tax rate
decrease complements the exemptions adopted by Council, including the 20% homestead
exemption which is the maximum percentage allowed by State law.

Optimum Fund Balances
Maintaining proper reserves increases the organization’s ability to absorb or respond to
temporary changes in the environment or circumstances, such as an unanticipated event or
changes related to operating revenues. This budget provides for optimum fund balances in all
funds.

AAA Bond Rating
The City of Southlake maintains a AAA bond rating from by Moody’s, Fitch Ratings and Standard
& Poor’s. This is the highest possible rating given to a credit. Not only does it reinforce that the
City has strong financial management tools, it also allows for favorable borrowing conditions
when the time is right.

74 FY 2025 City of Southlake | Budget Book