“With this budget we are meeting the City’s financial goals with a balanced budget which provides excellent city services and investments for the future. ” said City Manager Shana Yelverton. “We are excited to put this budget to work and to achieve the goals that have been set by the Council. ”
For the ninth straight year, there is no proposed tax rate increase for Southlake’s structurally balanced budget. The City also maintains a optimal fund balance of 25%.
“The FY 2012 Proposed Budget positions us for the future,” said City Manager Shana Yelverton. “For the last several years, with the direction of Council, the City has been making important strategic investments into its physical infrastructure, safety and security, and travel convenience. Now the time has come to make sustainable investments into the staff who makes it all possible. ”
Part of the staff investment includes the hiring of six new firefighters. If approved, they will be hired at the beginning of 2012. The new personnel will take the City one step closer to reaching its safety and security goals, especially in the northern parts of the City.
Phase II of the spectacular Bicentennial Park is scheduled to get started in 2012. The investment for part two totals about $9.8 million dollars and will be funded in part by self-supporting debt —debt that is funded by revenue sources other than property taxes.
“Earlier this year the City achieved a AAA rating from Fitch which enhances the AAA rating we received from Standard and Poor’s last year,” said Yelverton. “As with previous years, the City is choosing to fund many of its FY 2012 projects with cash or revenue streams that will pay off the projects in a timely manner. ”
To read more about the FY 2012 proposed budget please visit www.CityofSouthlake.com/FY_2012.
To see the videos which explain the proposed plan department by department, please click here.