Page 32 - Southlake FY20 Budget

Transmittal Letter

CEDC Expenditure Highlights
Total personnel costs for FY 2020 are
$2,447,207. Fund Item Expenditure

• Operations. Operating expenses Personnel - pay 2.5% base pay
for The Marq for both phases are adjustment adjustment,
proposed for FY 2020 at $1,856,463, Personnel merit
including standard expenses for
things like utilities and supplies, and Personnel - health 10.38% rate
marketing and promotional materials. insurance increase

Recreation Attendant I -
• Capital. The proposed budget shows $54,238
no capital expenses in the operating Guest Services (2.15 FTE)
budget.
Recreation Specialist -
Personnel - Fitness (1.85 FTE) $55,604
Indirect charge/transfers. A transfer of Champions Club
$332,578 to the General Fund is planned for Recreation Attendant II -
the indirect charge. We are also planning Guest Services (Upgrades
to transfer $2,429,906 to debt service and 2.85 FTE exsisting $9,917
$160,000 to establish a fund for future capital Recreation Attendant I)
replacement needs.

Champions Club coffee
Fund balance. The FY 2020 ending fund bar supplies $42,000
balance for the CEDC operating fund is
projected at $7,905,233.
Champions Club holiday $14,000
decorations
The CEDC debt service fund will cover
principal, interest, and administrative costs Champions Club party
for bonds for the construction of Champions package supplies (112% $8,400
Club. Total debt service expenditures for Cost Recovery)
FY 2020 are $2,429,906. The ending fund
balance is projected to be $606,469. Operations Target Industry Saturation
Study and Daytime $50,000
Initiatives funded through Population Analysis
the Community Enhancement (Economic Development)
& Development Corporation
support the Council’s focus Economic Development $25,000
areas of Quality Development, Mobility support software
and Infrastructure and the strategic
corporate objectives of “Provide Website maintenance and
attractive and unique spaces for the development (Economic $15,000
enjoyment of personal interests,” Development)
“Provide travel convenience with the Transfer to establish a
City & region,” and “Attract & keep top Transfer Facility & Equipment $160,000
tier businesses to drive a dynamic & Replacement Fund
sustainable economic environment.”

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