Page 31 - Southlake FY22 Budget

TrAnSMITTAL LETTEr

Below are highlights of adopted expenses for the fund:

Personnel. SPDC funds 65% of the salary and DID YOU KNOW?
benefits for the City’s Project Manager, as well as two
Maintenance Technicians, and a Contract Administrator. Since its inception in 1994, the SPDC
All compensation and benefit adjustments previously Fund has collected about $115 million
mentioned will be funded by SPDC for these employees. for park projects such as North Park, the
Bicentennial Park improvements and
Operations. Expenses include annual costs associated the acquisition and development of Bob
with maintenance and operations of parks, and park Jones Park.
improvements.

Capital. The budget includes funding for equipment
necessary to maintain the park system.

Indirect charge/transfers. A transfer of $332,101 to the General Fund is planned for the indirect charge. We
are also planning to transfer $2,796,796 to debt service and $4,000,000 to the CIP.

The Southlake Parks Development Corporation is also responsible for paying principal and interest on
outstanding debt. For FY 2022, the SPDC debt service fund will cover total expenditures of $2,802,796 for
this purpose. The FY 2022 - 2026 Capital Improvements Program including the Southlake Parks Development
Corporation plan is described later in this letter.

Fund balance. The adopted ending fund balance for the SPDC operating fund will be $10,193,659. The ending
fund balance for the SPDC debt service fund is projected to be $1,892,033.

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.”

Crime COnTrOl and PrevenTiOn disTriCT fund

The half-cent sales tax collection to fund the Crime Control and Prevention District (CCPD) began in April
1998, with the first sales tax check received in June 1998. State law provides that a district’s life is limited
to five years, unless voters continue the district by approval of a referendum. In February 2002, Southlake
voters approved the continuation of the CCPD for 15 years,
and the District was set to sunset in 2018 unless reauthorized
by the voters. DID YOU KNOW?

In May 2015, Southlake voters chose to reallocate a three- A special election was held on May 6,
eighths cent portion from the CCPD to the formation of a 2017, asking voters to determine if the
new sales tax district to fund recreational and economic CCPD should be reauthorized for an
development projects. Approval of the new district provided additional twenty years. The proposition
the funding needed to construct and support operations passed with 81% of voters supporting
of the new community and recreation center, The Marq the extension. As a result, the District is
Southlake. This left a one-eighth cent allocation remaining scheduled to sunset in 2038.

30 FY 2022 City of Southlake | BUDGET BOOK
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