Page 52 - CityofSouthlakeFY27Budget

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GENERAL FUND

The General Fund is the City’s principle operating fund, and is supported by property tax, sales tax,
fees, and other revenue. General Fund revenue may be used for a variety of purposes, and this budget
accounts for core City services such as police and fire protection, street maintenance, engineering,
planning, finance, and administrative oversight.

Revenue highlights. This budget projects $61,275,801 in General Fund revenues, an increase of $1,270,449
or 2.1% from the prior year adopted budget. Staff is estimating $27,018,757 in property tax revenue, an
estimated decrease of $1,404,552 or 4.9% from the prior year adopted budget. This projected revenue
reflects the tax rate decrease discussed previously in this overview.
Budget Overview
Property tax revenue also reflects action by the 89th Texas Legislature, which increased the business
personal property exemption to $125,000. The exemption reduces City property tax revenue by an
estimated $300,000 in FY 2027.

Compared with the prior year adopted budget, staff forecasts that sales tax revenue will grow
approximately 8.8% for the coming fiscal year, expecting to collect $24,664,500 in sales tax in the
General Fund.

Franchise fees collected from private utility companies operating in the city provide another source
of General Fund revenue. For this fiscal year, $3,525,000 is budgeted as revenue from this source, a
projected increase of 4.2% when revenue is compared to the prior year adopted budget. This increase
reflects adjusted consumption projections among the private utility providers operating in the city.
Fine collections, another source
of revenue, are budgeted at Figure 19
$903,500, a 0% increase when General Fund Revenue by Source
compared to the prior fiscal year.
The projected revenue is flat due
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The budget anticipates $1,537,100 ϱ͘ϴй
in revenue from permits and fees
which is a projected 1.2% increase
from the prior year adopted
budget, reflecting the City’s
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remaining supply of undeveloped
land continues to decline. For the
coming year, staff is estimating ' E Z > &hE ^ > ^ d y
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that 40 residential building
permits will be issued during the
fiscal year.
Revenue from charges for
services is estimated at
52 FY 2027 City of Southlake | Budget Book FY 2027 City of Southlake | Budget Book 53