Page 28 - Southlake FY23 Budget

TRAnSmITTAL LETTER

Southlake Parks Development spdc Fund expenditure highlights
Corporation Fund

The Southlake Parks Development Corporation highlight item expenditure
(SPDC) is a voter-approved development corporation
established to develop, operate, and maintain park 5% cost of
and recreational facilities. The uses of this half-cent Pay adjustment living base pay
sales tax are restricted to those allowed by law and adjustment
approved by the Board of Directors and City Council.
Personnel
A five-year SPDC Capital Improvements Program (CIP) 9.4% rate
has been established to support the implementation of Health insurance increase
the City’s Southlake 2035 Parks, Recreation, and Open
Space Master Plan. CIP priorities are established as a
joint effort between the staff, Parks and Recreation Utilities and
Board, Southlake Parks Development Corporation Operations maintenance
Board of Directors, and City Council. - Service for pickleball $169,800
Enhancements
complex
Revenue highlights. The SPDC operating fund is
projected to receive $10,056,024 in total revenue. Contract services
This represents a projected 21.1% increase over the FY - landscape $512,500
2022 adopted budget. maintenance

Expenditure highlights. Total expenditures for the Operations Annual park $125,000
operating fund are proposed at $1,919,351. This is a improvements
4.6% increase from the FY 2022 adopted budget. The
Southlake Parks Development Corporation Board of Southlake 2035
Directors, and the Southlake Parks and Recreation annual project $100,000
Board approved the proposed operating budget at the funding
August 2, 2022, joint meeting.
Bicentennial Park $125,000
artificial turf
The proposed FY 2023 budget includes $1,428,425
for operations, $228,200 for capital expenses and
$262,726 for personnel. SPDC park maintenance Capital Backhoe, sprayer, $78,000
costs represent about 37% of the current total park and line striper
maintenance costs.
Annual Southlake
Below are highlights of proposed expenses for the Tennis Center $25,200
fund: improvements

Personnel. SPDC funds 25% of the salary and benefits for
the City’s Project Manager, as well as two Maintenance DID YOU KNOW?
Technicians, and a Contract Administrator. All compensation
and benefit adjustments previously mentioned will be funded Since its inception in 1994, the SPDC
by SPDC for these employees. Fund has collected about $126 million
for park projects such as North Park, the
Operations. Expenses include annual costs associated with Bicentennial Park improvements and
maintenance and operations of parks and park improvements.
the acquisition and development of Bob
Jones Park.

BUDGET BOOK | FY 2023 City of Southlake 27
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