Page 446 - Southlake FY20 Budget

Budget Glossary
Appendix

BUDGET GLOSSARY

Southlake Parks Development Corporation.

Southlake Parks Development Corporation (SPDC) Operating Fund: The Southlake Parks Development Corporation
operating fund was established to account for the general operations of the non-profit corporation established to
finance, develop and operate park and recreational facilities. The SPDC is funded primarily through the receipt of
municipal sales taxes.

Storm Water Utility District: The Storm Water Utility District is used to account for the acquisition, operation and
maintenance of Southlake’s municipal storm water utility, supported primarily by user charges to the public.

Strategic Initiative Fund: Fund created in 2005 for the purpose of taking fund balance reserves in excess of the City
identified optimal fund balance level and using them for one-time expenditures of high impact projects such as
infrastructure maintenance, community enhancement, and capital acquisition.

Supplemental Request: A budget request that is not included in the base budget.

T

Target-based budget: A budget process in which departments are provided with a maximum level for their budget
requests. The budget office requires separate justification via a Supplemental Request for proposed spending levels that
exceed the target.

Taxes: Compulsory charges levied by a government for the purpose of financing services performed for the common
benefit. This term does not include specific charges made against particular persons or property for current or permanent
benefits such as special assessments, or charges for services rendered only to those who pay, for example, sewer service
charges.

Tax Increment Reinvestment Zone #1 (TIRZ): A citizen approved financing mechanism that has allowed for the ongoing
development of the Southlake Town Square area.

Tax Increment Finance (TIF) Operating Fund: The Tax Increment Finance Operating Fund was established to account
for the general operations of the TIF, which was formed to finance and make public improvements. The TIF is funded
primarily through the assessment of ad valorem taxes.

Technology Infrastructure and Security Fund: The Technology Infrastructure and Security Fund was created in FY 2017
to build capacity for current and future technology needs. Expenditures in this fund are used to maintain, enhance and
replace technology infrastructure and enterprise software to ensure the City receives the most reliable and best value
with technology investments. In order to keep up with the increasing number and complexity of security threats, this
fund also supports technology security projects and programs.

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