Page 8 - CityofSouthlakeFY25AdoptedBudget

City Profile .....................................................................................................................................................77
We believe the ability to monitor and evaluate the financial condition of a local government is critical
to that government’s successful, prosperous future. Recognizing that trends can provide early warning
signals, staff regularly monitors numerous financial indicators. A portion of this data is featured in the
charts located in this section of the budget document. These charts offer a quick, effective visual of the
City’s financial condition. A list of Council members, an organizational chart, location and a history of
the City is also provided.

Financial Trend Monitoring System Overview ................................................................................................................... 87
Financial Trend Monitoring System: Environmental Factors ....................................................................................... 91
Financial Trend Monitoring System: Financial Indicators ........................................................................................... 105
Benchmark City Trend Data ........................................................................................................................................................121

Table of Contents
Strategic Direction .................................................................................................................................... 135
This section provides information about the City’s Strategic Management System (SMS). Several years
ago the City adopted the SMS which drives the way the City conducts its business. The department
directors contribute to the SMS by developing a corporate business plan and aligning their yearly budget
proposals to that plan.

Multi-Year Operating Plan ..........................................................................................................................149
As the annual budget is developed, the City also prepares a multi-year plan. This tool is essential for
effective financial management and strategic planning. This section describes the expenditure and
revenue assumptions for the multi-year plan and shows a five year forecast for the General Fund.

Introduction ...................................................................................................................................................................................... 150
Revenues ..............................................................................................................................................................................................151
Operating Expenditures...............................................................................................................................................................152
Capital Projects & Infrastructure Investments ..................................................................................................................154
Strategic Reserves ..........................................................................................................................................................................156
Forecast Results ..............................................................................................................................................................................157
Multi-Year Operating Plan Analysis ........................................................................................................................................158

City Department Overview .......................................................................................................................161
This section provides an overview of the various departments and divisions of the City via department
highlights, strategy maps, performance measures 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 ........................................................................................................................................ 193
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 illustrated,
as well as current year budget, revised current year and projected budget for the impending fiscal year.

General Fund Expenditures ...................................................................................................................... 221
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 such operations
as police, fire, engineering, planning, finance and administration.

8 FY 2024 City of Southlake | Budget Book