Page 352 - Southlake FY22 Budget
P. 352
SPECIAL rEVEnUE FUnDS EXPEnDITUrES
SALES TAX DISTrICTS
community enhancement and deVeloPment corPoration Fund
The Community Enhancement and Development Corporation was formed when Southlake voters approved the
special levy of a 3/8 cent sales tax in 2015. The funds are dedicated toward the construction of Champions Club
CEDC - OPERATING FUND
at The Marq Southlake, a community events and recreation facility. Funds will also be used to support operational
Parks/Recreation
expenses related to The Marq as well as special economic development projects. 09:38 AM
2022 Proposed and 2021 Revised Budget
07/22/21
$ Increase/ $ Increase/
2020 2021 2021 (Decrease) % Increase/ 2022 (Decrease) % Increase/
Adopted
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Sales Tax $5,858,223 $5,254,816 $5,930,500 $675,684 12.9% $6,006,255 $751,439 14.3%
Charges for Services 2,005,452 2,308,918 2,336,855 27,937 1.2% 2,885,854 576,936 25.0%
Interest 96,146 68,000 12,000 (56,000) -82.4% 12,600 (55,400) -81.5%
Total Revenues $7,959,821 $7,631,734 $8,279,355 $647,621 8.5% $8,904,709 $1,272,975 16.7%
EXPENDITURES
Personnel $1,813,267 $2,606,214 $2,606,214 $0 0.0% $2,729,159 $122,945 4.7%
Operations $1,321,199 $1,584,147 $1,513,808 (70,339) -4.4% $1,640,580 56,433 3.6%
Capital $0 $0 $0 0 0.0% $0 0 0.0%
Total Expenditures $3,134,466 $4,190,361 $4,120,022 ($70,339) -1.7% $4,369,739 $179,378 4.3%
Net Revenues $4,825,355 $3,441,373 $4,159,333 $717,960 $4,534,970 $1,093,597
Transfers Out (296,917) (305,269) (331,174) $25,905 (356,188) 50,919
Transfer out-Replacement Fund 0 (160,000) (160,000) $0 (160,000) 0
Transfer Debt Service (2,429,906) (2,436,806) (2,429,906) ($6,900) (2,451,056) 14,250
Total Other Sources (Uses) ($2,726,823) ($2,902,075) ($2,921,080) $19,005 ($2,967,244) $65,169
Beginning Fund Balance $7,612,917 $9,711,449 $9,711,449 $10,949,702
Ending Fund Balance $9,711,449 $10,250,747 $10,949,702 $12,517,427
fy 2022 highlighTs:
• For FY 2022, $6,006,255 is anticipated in sales tax collections for the District, along with 2,885,854 in charges for
services. Staff projects $12,600 in interest income for total revenues of $8,904,709.
• Planned expenditures includes funding for 56.58 FTEs needed to operate The Marq Southlake. Personnel expenses
for FY 2022 total $2,729,159.
• FY 2022 operating expenses for The Marq Southlake are $1,640,580, this includes standard expenses for things like
utilities and supplies, as well as marketing and promotions.
• The ending fund balance for the CEDC Operating Fund is projected at $12,517,427.
BUDGET BOOK | FY 2022 City of Southlake 351
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