Page 10 - Southlake FY23 Budget

FY 2023 BUDGET BOOK INTRO & TOC

Technology Infrastructure & Security Fund ..................................................................... 231
This section provides information about the Technology Infrastructure & Security Fund.
This fund was created in FY 2017 to build capacity for current and future technology
needs. Expenditures in this fund are used to maintain, enhance and replace technology
infrastructure and enterprise software to ensure the City receives the most reliable and
best value with technology investments.

Economic Development Investment Fund ...................................................................... 235
The Southlake 2030 Economic Development & Tourism Strategic Plan includes the
following as recommendation 4.3: “Southlake should establish a fund to use to attract
and retain employers, as well as to help retain and expand existing businesses.” This fund
was created in 2013 for that purpose.

Utility Fund ...................................................................................................................... 239
This section provides the Utility Fund Summary. The Utility Fund is an enterprise or
business fund. This means that the direct beneficiaries of the “business” pay for all costs
through fees or rates. Water, sewer service, and solid waste service revenues generated
through our rates, as well as the expenses for providing these services are accounted for
in the Utility Fund.

Vehicle Replacement Fund .............................................................................................. 243
This section provides a fund summary and detailed spending plan funds which provide
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 Funds & Debt Schedules ........................................................................... 247
This section provides a summary of the annual principal and interest payments for all
outstanding bonded debt and capital leases. Also included are some fast facts about the
City’s use of debt and how that debt is funded both through property tax revenue and
through dedicated, self-supporting revenue streams such as sales tax revenues for park
development.

Tax Supported vs. Self-Supporting Debt ...........................................................................248
Debt Management ....................................................................................................................250
The Relationship Between Property Taxpayers and Debt Repayment...................... 251
General Obligation Debt Overview .....................................................................................254
Revenue Bond Overview .......................................................................................................256
Debt Service Fund ....................................................................................................................258
Southlake Parks Development Corporation......................................................................259
Southlake Parks Development Corporation (SPDC) Debt Service Fund ..................261
Community Enhancement and Development Corporation ..........................................263
Community Enhancement and Development
Corporation (CEDC) Debt Service Fund ............................................................................265

BUDGET BOOK | FY 2023 City of Southlake 9
WWW.CITYOFSOUTHLAKE.COM