Page 70 - CityofSouthlakeFY26AdoptedBudget

economic development goals by continuing Figure 1
investment in the Economic Development
Investment Fund.” This fund was created in 2013 FY 2026 Budget Calendar
for that purpose.
January 2025 City Council Work Session
Utility Fund - This section provides the Utility
Fund Summary. The Utility Fund is an enterprise February 2025 Staff Budget Kick-Off
or business fund. This means that the direct
beneficiaries of the “business” pay for all costs May 2025 Departmental Budgets
through fees or rates. Water, sewer service, and Due
solid waste service revenues generated through
Budget Basics
our rates, as well as the expenses for providing City Council Budget
Preview
these services are accounted for in the Utility August 2025 City Council Work Session
Fund. City Manager Files Budget

Vehicle Replacement Fund - This section provides City Council Work Session
a fund summary and detailed spending plan for 1st Reading and Public
funds to manage the purchase of vehicles for the September Hearing
2025
City’s fleet. The establishment and funding of the City Council 2nd Reading
vehicle replacement program was designed to and Public Hearing
even out expenses for the City’s fleet from year to
year and provide a logical method for purchasing October 1, Fiscal Year 2026 Begins
2025
and retiring vehicles.

Debt Service Funds & Debt Schedules - This section provides a summary of the annual principal and
interest payments for all outstanding bonded debt and capital leases. Also included are some fast
facts about the City’s use of debt and how that debt is funded both through property tax revenue and
through dedicated, self-supporting revenue streams such as sales tax revenues for park development.

Special Revenue Funds - This section provides a detailed spending plan for funds generated from the
proceeds of specific revenue sources that are legally restricted for certain purposes.

Appendix - This section includes a list of acronyms, a budget glossary, Southlake’s financial policies and
frequently asked questions. Also included is a personnel schedule, tax rate allocation information and
the Financial Wellness component of the Southlake 2030 Sustainability Plan.

Budget Process
How does the City of Southlake spend taxpayer money? It’s a simple question with a complex answer.
What follows is a high-level explanation of the City of Southlake’s budget process.

The formal budget process in Southlake begins each year with a City Council work session designed
to review the City’s strategy as it relates to the Strategic Management System (SMS) and make any
changes necessary to ensure that the strategy still aligns with City Council and citizen priorities. To read
more about the SMS, see the Strategic Direction section.

70 FY 2026 City of Southlake | Budget Book FY 2026 City of Southlake | Budget Book 71