Page 333 - Southlake FY22 Budget

DEBT SErVICE FUnDS EXPEnDITUrES

sOuThlake Parks develOPmenT COrPOraTiOn (sPdC) deBT serviCe fund

SPDC - DEBT SERVICE FUND
This fund is used to account for the accumulation of financial resources for payment of long-term principle and interest
costs for SPDC-approved park improvements. Parks/Recreation
2022 Proposed and 2021 Revised Budget 11:10 AM
07/22/21

$ Increase/ $ Increase/
2020 2021 2021 (Decrease) % Increase/ 2022 (Decrease) % Increase/
Adopted
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest Income $24,382 $17,000 $1,800 ($15,200) -89.4% $1,900 ($15,100) -88.8%
Total Revenues $24,382 $17,000 $1,800 ($15,200) -89.4% $1,900 ($15,100) -88.8%

EXPENDITURES
Principal $2,050,000 $2,165,000 $2,165,000 $0 0.0% $2,272,000 $107,000 4.9%
Interest 768,270 650,224 650,224 0 0.0% 524,796 (125,428) -19.3%
Admin. Expenses 5,302 6,000 6,000 0 0.0% 6,000 0 0.0%
Total Expenditures $2,823,572 $2,821,224 $2,821,224 $0 0.0% $2,802,796 ($18,428) -0.7%

Net Revenues ($2,799,190) ($2,804,224) ($2,819,424) $0 ($2,800,896) ($18,428)

Bond Proceeds $0 $0 $0 $0
Transfers In $2,818,269 $2,815,224 $2,815,224 0 $2,796,796
Total Other Sources
(Uses) $2,818,269 $2,815,224 $2,815,224 $2,796,796

Beginning Fund Balance $1,881,254 $1,900,333 $1,900,333 $1,896,133
Ending Fund Balance $1,900,333 $1,911,333 $1,896,133 $1,892,033

fy 2022 highlighTs:

• The Southlake Parks Development Corporation is 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.

332 FY 2022 City of Southlake | BUDGET BOOK
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