Page 79 - CityofSouthlakeFY26AdoptedBudget

Fund Balance

It should be noted that each fund summary for all of the City’s funds ends with a line named “fund
balance.” Fund balance is defined as, “The excess of an entity’s assets over its liabilities in a particular
fund.” In other words, it is the balance that remains once the fund’s expenditures have been deducted
from its revenues. In the City of Southlake, the amount of fund balance for each fund is dictated by Budget Basics
different parameters. In the case of the General Fund and the Utility Fund, fund balance is defined in the
City’s Statement of Financial Policies (see the Appendix). Balances for other funds are determined by
other parameters such as bond covenants. Fund balance is a fundamental barometer of fiscal wellness
and it is important to note that the fund balance for all funds meets every established requirement.

Changes From FY 2026 Proposed to Adopted

Before adopting the budget, City Council may choose to change any aspect of the proposed budget, as
long as the changes result in a balanced budget. A copy of the budget, as finally adopted, is filed with
the City Secretary’s Office and the County Clerk of Tarrant County. The final budget is made available
for the use of all departments, offices and agencies of the City, and for the use of interested persons,
agencies, and civic organizations.

September 16
August 19

City Council Budget Work Session Proposed Budget Second Reading and
Public Hearing

September 2 October 1

Proposed Budget First Reading and Beginning of FY 2026
Public Hearing

FY 2026 City of Southlake | Budget Book 79