Page 378 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS
PUBLIC ART FUND

Public Art

2027 Proposed and 2026 Revised Budget

$ Increase/ $ Increase/
2025 2026 2026 (Decrease) % Increase/ 2027 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Miscellaneous $0 $0 $0 $0 0.0% $0 $0 0.0%
Special Revenue Funds
Interest Income $19,651 $19,000 $19,000 $0 0.0% $17,000 ($2,000) -10.5%
Total Revenues $19,651 $19,000 $19,000 $0 $17,000 $0

EXPENDITURES
Operations $59,792 $74,340 $74,340 $0 0.0% $68,340 ($6,000) -8.1%
Capital $0 $0 $0 0 0.0% $0 0 0.0%
Total Expenditures $59,792 $74,340 $74,340 $0 0.0% $68,340 ($6,000) -8.1%

Net Revenues ($40,141) ($55,340) ($55,340) $0 ($51,340) $4,000
Transfers In-Hotel $393,750 408,750 423,750 15,000 438,750 $30,000
Transfers Out - (400,000) (300,000) (300,000) 0 (300,000) $0
Total Other Sources (Uses) ($6,250) $108,750 $123,750 $0 $138,750

Beginning Fund Balance $539,055 $492,664 $492,664 $561,074
0 0 0 0
Ending Fund Balance $492,664 $546,074 $561,074 $648,484

FY 2027 HIGHLIGHTS

- The budget shows $17,000 in interest income based on a beginning fund balance of $561,074.

- The law providing for the Hotel Occupancy Tax allows up to 15% of the revenues to be used for public art
purposes. Because this source of funding comes in the form of a transfer, it is shown “below the line.” For
FY 2027, this transfer of $438,750 is budgeted.

- Expenditures are estimated at $68,340. The Public Art Fund will provide the source of support for the
City’s ongoing relationship with the APEX Arts League, Arts Council – Northeast, and the Southlake Arts
Council by providing funding for various projects such as public art displays and event support. The budget
also includes a transfer of $300,000 to the CIP for implementation of the Public Art Comprehensive Plan.

- The ending fund balance for the Public Art Fund is estimated at $648,484.

378 FY 2027 City of Southlake | Budget Book