Adopted FY 2018 Budget

The FY 2018 budget year starts October 1, 2017.  On August 15th, the City Manager will submit a proposed budget for Council's consideration.  

This page helps highlight The City of Southlake budget document, and will be updated as the budget process progresses. If you have a question about the document, please don't hesitate to reach out 24/7 by filling out our contact form.

Town Hall with Seal

City Council Adopts FY 2018 Budget

The City Council adopted the FY 2018 Budget at their meeting on Tuesday, September 19, 2017. 

The adopted budget includes an already approved 20% homestead exemption for homeowners, a steady tax rate, significant investments into safety and security, improved roads and road capacity, and operating dollars for the new recreation center, The Marq Southlake, Champions Club.

Homeowner Tax Payer Relief and Reducing Debt
Seven homestead exemption initiatives have been approved by the City Council since 2009, including the 20% homestead exemption adopted for FY2018.

This 20% homestead exemption is an increase from the 16% exemption adopted in 2017 and marks the highest homestead exemption allowed by law.

"Tax relief for the homeowner has been a priority of the City Council since 2009," said Chief Financial Officer Sharen Jackson.  "The 20% homestead exemption will provide a reduction in value of $132,400 for an average-valued home in Southlake; this is equal to a 9.25 cent tax rate reduction and is part of the City's commitment to targeted tax relief."

The city of Southlake has also been able to manage debt so that 93% of the City's current tax-supported debt will be retired in 10 years. Through the City's use of cash and aggressive pay-back schedules when debt is issued, the City has reduced the property tax supported debt by 52% since 2010. The FY 2018 budget provides cads funding for General Fund capital projects.

Safety and Security

For FY 2018, numerous investments will be made into Safety and Security.

“Recruiting, and retaining our police officers and firefighters is the best investment that we can make into Southlake’s continued safety and security,” said City Manager Shana Yelverton.  “We will also focus on equipment needs such as protective headgear and ballistic vests to better equip our public safety personnel with what they need to do their jobs.”

The adopted budget includes funding for police and fire cost of living and merit pay increases, as well as dollars to support the competitiveness of their pay plan in the City’s labor market.

“The DFW labor market for police officers and firefighters is extremely competitive,” said Yelverton.

Other safety investments will include improvements to school zones and the City’s cybersecurity as well as enhancing treatments for areas that have seen significant mosquito activity.

Better Mobility

This year’s Capital Improvement Program (CIP) prioritizes better mobility around Southlake.  Projects include the expansion of North White Chapel, from Emerald to State Highway 114, continued improvements to FM 1938/Randol Mill Road and improvements to State Highway 114.  There are also planned improvements to Kirkwood Boulevard and the City’s continued commitment to maintaining the roadway improvements.

“These key cash-funded investments into our roads are important to help keeping everyone moving,” said Yelverton.  “But we are also focusing funds on better signal timing on Southlake Boulevard and laying the ground work for intelligent transportation systems which, by using current and emerging technology, will help people get to where they need to go."  

The Marq Southlake

The Marq Southlake Champions Club will be a primary focus in FY 2018.  The recreational facility will open the fall of 2018 with an aquatic center, fitness area, gymnasium, jog/walk track, indoor playground and an indoor and outdoor turf area. The proposed budget includes funding for necessary staff and operating needs to provide the services that will be offered.

"The Marq Southlake Champions Club will open in the fall of 2018 and it's going to be an exciting time," said Yelverton. "As the building is going up, staff will be getting the word out about memberships, hiring instructors and other important information so that we’re ready when the doors open."

Budget Document

The City Manager's transmittal letter is a high-level overview of the proposed budget. In it you will find the proposed unchanged tax rate; how focused purchases will advance the City's commitment to improved roads and mobility, The Marq Southlake, and the comprehensive planning. We invite you to read it and ask us questions.

For more detailed information, please take a look at the sections below which offer fund by fund summaries, an in-depth look at the Capital Improvement Program, and the City's strategic direction.  The links will become live after August 15, 2017.

Table of Contents
Introduction
Strategic Initiative Fund
Transmittal Letter
Economic Development Investment Fund
Budget 101
Utility Fund Expenditures
City Profile
Vehicle Replacement Fund
Strategic Direction
Debt Services
Fund Summaries
Special Revenue Funds
Overview of City Departments
Capital Improvement Program
General Fund Expenditures
Appendix