Page 320 - Southlake FY20 Budget

Special Revenue Funds

• Storm Water Utility
This fund accumulates dollars collected by the storm water utility fee paid monthly by the owners of all of
Southlake’s developed properties. These fees provide a funding source for maintenance, repair, and construction
of storm water facilities, and can only be spent for these purposes. The monthly storm water fee is the same
for all residential dwelling units. Residential properties are charged $8 per month for each dwelling unit that is
on the property. Fees for non-residential properties are calculated individually in proportion to each property’s
storm water runoff potential.

• Tax Increment Finance District
Tax Increment Reinvestment Zone (TIRZ) Number One or the Tax Increment Finance (TIF) District was created
in 1997, with an effective beginning date of January 1, 1998 to encourage quality commercial development
in the City. Incremental values subsequent to January 1997 are taxed at the City’s tax rate of $.462 per $100
of assessed value; however, 100% of the ad valorem tax revenues are utilized within the District, rather than
being allocated to the City’s overall budget. These funds pay for public projects in Town Square, such as water,
sewer and roads within the District. Overlapping taxing entities, including Tarrant County, Tarrant County
College District, Tarrant County Hospital District, and the Carroll Independent School District have agreed to
participate at varying levels in the TIF District by assigning their ad valorem tax dollars as well.

How are special revenue funds used?
The charts on the following pages illustrate all City revenues and expenditures and show that the General Fund and
Utility Fund account for about 70% of revenues and expenditures (to read more about these funds see the General
Fund and Utility Fund sections). These charts also show that aside from debt service, special revenue funds account
for the remainder.

So what does this mean for Southlake? By utilizing special revenue funds, the City is able to strategically invest dollars
in projects that can be funded through dedicated revenue streams rather than spreading these costs to the property
taxpayers by spending General Fund property tax revenues.

Two of the City’s special revenue funds are the CCPD Fund and the SPDC Fund, both of which were formed when
Southlake voters approved special sales tax levies in the 1990s to support the development of public safety and park
facilities. Since their inception, CCPD and SPDC
have collected more than $76 million each. Trails Joint Use The Marq Other
Through these funds, the City has been able to Senior Center 1% 3% 1% 0%
0%
build numerous public projects without needing North Park
to rely on property tax dollars to fund their 12%
construction. For example, the construction of Bob Jones Nature Center
DPS Headquarters (completed in 2008) and DPS 2%
North (completed in 2013) have been completely Sports Complex Bicentennial Park
4% 51%
funded through CCPD.
Neighborhood
6%
On the SPDC side, improvements to Bicentennial
Park, the acquisition of land and subsequent
development of Bob Jones Park as well as
the Bob Jones Nature Center and recently- Bob Jones Park
completed North Park have all been funded 20%
through SPDC sales tax revenues. See chart
above for additional SPDC project information.
SPDC Project Funding since 1993

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