Page 69 - CityofSouthlakeFY27Budget

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with asset forfeitures. Interest income of $1,200 is the only anticipated revenue, but a beginning fund
balance of $64,179 is available for use. Total expenditures of $3,500 are planned to address various
Police Department needs. Ending fund balance is projected to be $61,879.

Public Art Fund. The Public Art Fund was established to account for funding that is available for the
promotion, creation, installation, and/or maintenance of public art throughout Southlake. The Hotel
Occupancy Tax financially supports the City’s public art program, and a Public Art Comprehensive Plan Budget Overview
has been adopted to guide program development.

The budget shows $17,000 in interest income. The law providing for the Hotel Occupancy Tax (HOT)
allows up to 15% of the revenues to be used for public art purposes. A transfer of $438,750 from the HOT
Fund is budgeted for this purpose.

Expenditures are estimated at $68,340. The Public Art Fund provides 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
supports public art maintenance.

A transfer of $300,000 to the CIP is planned for public art projects. The ending fund balance is estimated
at $648,484.

Recycling Fund. The City’s contract for solid waste services provides for an annual payment of $6,000
to the City for total projected revenue of $8,500 including interest. The budget includes $4,600 for
special projects support. The ending fund balance is projected to be $93,825.

FY 2027 City of Southlake | Budget Book 69