Page 64 - Southlake FY22 Budget

BUDGET OVErVIEW

GUIDE TO THE BUDGET DOCUMEnT

• Vehicle Replacement Fund:
This fund accounts for the resources needed to manage the purchase of vehicles for the City’s fleet. The
establishment and funding of the vehicle replacement program was designed to even out expenses for the City’s
fleet from year to year and provide a logical method for purchasing and retiring vehicles.

• Debt Service Fund:
Although the Strategic Initiative Fund provides cash for pay-as-you-go capital projects, the City still must borrow to build
needed infrastructure. As mentioned, a portion of the revenue generated by the property tax rate is allocated to support
long-term bond projects through the Debt Service Fund. A Capital Improvements Program details the projects and costs
for a five-year period and identifies future unfunded projects. The Debt Service Fund provides the needed money to
build these projects.

• Special Revenue Funds:
These funds are general government funds where the source of revenue is dedicated to a specific purpose:

• Commercial Vehicle Enforcement
This fund accounts for fines collected from commercial vehicle violations. Use of these funds is restricted for
commercial vehicle enforcement, per State law.

• Community Enhancement and Development Corporation (CEDC)
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 at The Marq Southlake, a community events and recreation facility. Funds are used to support operational
expenses related to The Marq as well as special economic development projects.

• Community Enhancement and Development Corporation - Replacement Fund
The Community Enhancement and Development Corporation - Replacement Fund accounts for the resources
needed to manage the purchase of replacement equipment and capital outlay at The Marq Southlake. The
establishment and funding of the Community Enhancement and Development Corporation - Replacement
Fund was designed to even out expenses for the Community Enhancement and Development Corporation
from year to year and provide a logical method for purchasing and retiring needed equipment and capital
outlay.

• Court Security
This fund accounts for a percentage of the monies collected from the payment of fines and forfeitures. Use of
these funds is restricted for the purchase of court security items, per State law.

• Court Technology
This fund accounts for a percentage of the monies collected from the payment of fines and forfeitures. Use of
these funds is restricted for purchase of court technology, per State law.

• Crime Control and Prevention District (CCPD)
The half-cent sales tax collection to fund the Crime Control and Prevention District began in April 1998, with
the first sales tax check received in June 1998. State law provides that a district’s initial life is limited to five
years.

BUDGET BOOK | FY 2022 City of Southlake 63
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