Page 29 - Southlake FY20 Budget

Transmittal Letter

proposed operating budget at the August 6, 2019, SPDC Fund Expenditure Highlights
joint meeting.
Highlight Item Expenditure
The proposed FY 2020 budget includes $1,273,980
for operations and $230,184 for personnel. We
are continuing the move of selected maintenance 2.5% base pay
expenses from the General Fund to SPDC. These Pay adjustment adjustment,
merit
costs represent about 32% of the current total park
maintenance costs. The proposal to fund certain Personnel
maintenance costs in SPDC is balanced with master
plan implementation, capital costs, and fund balance Health insurance 10.38% rate
needs. Capital costs are planned at $67,200. increase

Below are highlights of adopted expenses for the Joint use
fund: facilities fees and $20,000
maintenance
• Personnel. SPDC funds 65% of the salary Utilities - water,
and benefits for the City’s Project Manager,
as well as two maintenance technicians, and waste water, and $435,000
a Contract Administrator. All compensation electric
and benefit adjustments previously Contract services
mentioned will be funded by SPDC for these Operations - landscape $520,000
employees. maintenance

• Operations. Expenses include annual costs Park operations
associated with maintenance and operations and maintenance $172,000
of parks, and park improvements.
Annual park
Indirect charge/transfers. A transfer of $317,953 improvements $125,000
to the General Fund is planned for the indirect
charge. We are also planning to transfer $2,818,269 Capital
to debt service and $4,000,000 to the CIP. equipment $42,000
Capital
The Southlake Parks Development Corporation is Annual
also responsible for paying principal and interest on Tennis Center $25,200
outstanding debt. For FY 2020, the SPDC debt service improvements
fund will cover total expenditures of $2,824,269 for
this purpose. The FY 2020 - 2024 Capital Improvements Program including the Southlake Parks Development
Corporation plan is described later in this letter.

Fund balance. The proposed ending fund balance for the SPDC operating fund will be $8,758,521.

Initiatives funded through the Southlake Parks Development Corporation address
the focus area of Infrastructure and the strategic corporate objective of “Provide
attractive and unique spaces for enjoyment of personal interests.”

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