The big picture
Chief Financial Officer Sharen Jackson gave a presentation during the Feb. 18 council meeting to give an overview of the CIP, which features 30 projects that will cost $43.1 million with funding coming from 10 different sources.
“The proposed plan is aligned with the financial management guidance principles [and] it properly invests in critical infrastructure, as well as enhancing mobility,” she said.
By percentage, the general fund will account for 38.2% and 37.2% will come from the utility fund. The other eight funds range from 0.5% to 13.9% of the budget, according to the presentation.
What you need to know
There are a handful of big projects under the capital improvement program, including the municipal service center and public service training tower. This year, the CIP includes another $5 million after $8.6 million was budgeted in the 2023-24 fiscal year.
Other multi-million projects in the upcoming fiscal year include:
- $5.6 million: enhancement for all parks, including athletic fields turf conversion
- $5.3 million: T.W. King pump station No. 2 building Phase I
- $3.9 million: West Continental Boulevard intersections improvements
- $3.3 million: street rehabilitation
- $3.2 million: Brumlow Avenue widening from Continental Boulevard to SH 26
- $3 million: future land acquisition
- $2.7 million: repainting of the Florence elevated storage tank
- $2.1 million: Continental Boulevard and South Peytonville Avenue intersection improvements
- $2.1 million: 12-inch water line along Randol Mill Avenue from Morgan Road to Dove Road
- $1.2 million: Mustang Court industrial area access improvements
Jackson said most of the projects will be funded by $25.3 million in cash. She added $2.2 million will come from a Tarrant County bond and the remaining $15.6 million will be funded through bonds.
She said the Southlake City Council will vote on a resolution during the March 4 meeting to authorize the intent to issue bonds. Final approval would be May 6 if approved, she said.
Quote of note
“We do have a strategy where we evaluate certain projects that don't need immediate expenditure funds, projects that are not already in progress and things that we can identify that are future, long-term projects that we can start putting cash in a savings account toward,” Southlake City Manager Alison Ortowski said. “It’s all part of how we develop the capital plan to ensure that our infrastructure is properly built and maintained and that we have also have a responsible financial plan that goes along with it.”
