Page 30 - Southlake FY22 Budget

TrAnSMITTAL LETTEr

sOuThlake Parks develOPmenT
COrPOraTiOn fund sPdC fund exPendiTure highlighTs

The Southlake Parks Development Corporation highlighT iTem exPendiTure
(SPDC) is a voter-approved development corporation 2.5% cost of
established to develop, operate, and maintain park living base pay
and recreational facilities. The uses of this half-cent adjustment;
sales tax are restricted to those allowed by law and Pay adjustment Merit, Market
approved by the Board of Directors. where

applicable
A five-year Capital Improvements Program (CIP) has
been established to support the implementation Personnel
of the City’s Southlake 2035 Parks, Recreation, Health insurance 0.1% rate
and Open Space Master Plan. CIP priorities are decrease
established as a joint effort between the Parks and
Recreation Board, Southlake Parks Development
Corporation Board of Directors, and City Council. 1% rate
Dental insurance decrease
Developed park acreage has almost doubled since
2008. The Southlake 2035 Parks, Recreation, Contract services
and Open Space Master Plan prioritizes
recommendations for projects. The Council has - landscape $505,000
worked with the SPDC Board of Directors and Parks maintenance
and Recreation Board to transition certain park Utilities - water,
operating costs out of the General Fund and into waste water, and $435,000
the SPDC operating fund. electric
Operations
Revenue highlights. The SPDC operating fund is
projected to receive $8,302,524 in total revenue. Annual park $125,000
This represents a projected 13.2% increase over improvements
the FY 2021 adopted budget. Southlake 2035
annual project $100,000
Expenditure highlights. Total expenditures for the funding
operating fund are adopted at $1,835,423. This is Mowers, utility
a 17.5% increase from the FY 2021 adopted budget. vehicles, and $145,000
The Southlake Parks Development Corporation bunker rake
Board of Directors, and the Southlake Parks and
Recreation Board approved the adopted operating Annual
budget at the August 3, 2021, joint meeting. Capital Tennis Center $25,200
improvements

The adopted FY 2022 budget includes $1,366,480 Capital field
for operations, $190,200 for capital expenses and equipment $20,000
$278,743 for personnel. SPDC park maintenance
costs represent about 37% of the current total park
maintenance costs. The proposal to fund certain maintenance costs in SPDC is balanced with master plan
implementation, capital costs, and fund balance needs.

BUDGET BOOK | FY 2022 City of Southlake 29
WWW.CITYOFSOUTHLAKE.COM