Page 8 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS

Budget Basics ................................................................................................................................................73
This section attempts to help explain the meaning behind the numbers which are presented in subsequent
chapters. It gives perspective to the City’s budgeting process, basis of budgeting and accounting, how
the budget is amended and the fund accounting system.

City Profile .....................................................................................................................................................93
We believe the ability to monitor and evaluate the financial condition of a local government is critical
to that government’s successful, prosperous future. Recognizing that trends can provide early warning
signals, staff regularly monitors numerous financial indicators. A portion of this data is featured in the
charts located in this section of the budget document. These charts offer a quick, effective visual of the
Introduction
City’s financial condition. A list of Council members, an organizational chart, location and a history of
the City is also provided.

Financial Trend Monitoring System Overview ................................................................................................................. 103
Financial Trend Monitoring System: Environmental Factors .....................................................................................107
Financial Trend Monitoring System: Financial Indicators .............................................................................................121
Benchmark City Trend Data .......................................................................................................................................................137

Strategic Direction .....................................................................................................................................151
This section provides information about the City’s Strategic Management System (SMS). Several years
ago the City adopted the SMS which drives the way the City conducts its business. The department
directors contribute to the SMS by developing a corporate business plan and aligning their yearly budget
proposals to that plan.

Multi-Year Operating Plan ..........................................................................................................................169
As the annual budget is developed, the City also prepares a multi-year plan. This tool is essential for
effective financial management and strategic planning. This section describes the expenditure and
revenue assumptions for the multi-year plan and shows a five year forecast for the General Fund.

Introduction ........................................................................................................................................................................................171
Revenues .............................................................................................................................................................................................172
Operating Expenditures...............................................................................................................................................................174
Capital Projects & Infrastructure Investments ..................................................................................................................175
Strategic Reserves ..........................................................................................................................................................................178
Forecast Results & Analysis .......................................................................................................................................................179
General Fund Five Year Financial Forecast ....................................................................................................................... 180

City Department Overview .......................................................................................................................181
This section provides an overview of the various departments and divisions of the City via department
highlights, strategy maps, performance measures and goals. This section is intended to give the reader
an understanding of the core services each department provides as well as performance data related
to those services.

8 FY 2027 City of Southlake | Budget Book FY 2027 City of Southlake | Budget Book 9