Page 283 - Southlake FY23 Budget

Community enhanCement and develoPment

CorPoration fund - 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
CEDC - 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.
Parks/Recreation
2023 Proposed and 2022 Revised Budget

$ Increase/ $ Increase/
2021 2022 2022 (Decrease) % Increase/ 2023 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest 363 500 500 0 0.0% 500 0 0.0%
Total Revenues $363 $500 $500 $0 0.0% $500 $0 0.0%

EXPENDITURES
Operations $0 $0 $0 $0 0.0% $0 0 0.0%
Capital 0 135,171 135,171 0 0.0% 414,713 279,542 206.8%
Total Expenditures $0 $135,171 $135,171 $0 0.0% $414,713 $279,542 206.8%

Net Revenues $363 ($134,671) ($134,671) $0 ($414,213) ($279,542)

Transfer from other funds $160,000 $160,000 $3,056,800 $1,125,000
Transfer to other funds ($0) ($0) ($0) ($0)
Total Other Sources/(Uses) $160,000 $160,000 $3,056,800 $1,125,000

Beginning Fund Balance $161,101 $321,464 $321,464 $3,243,593
Ending Fund Balance $321,464 $346,793 $3,243,593 $3,954,380

fy 2023 highlightS:

• This fund was established in FY 2020 to set aside funds for equipment and furniture replacement at The Marq
Southlake.

• FY 2023 includes a projected transfer in from the Community Enhancement and Development Corporation
Fund of $414,713. Equipment replacement is based on the recommendations of The Marq Asset Management
Plan, and include aquatics maintenance ($182,687), fitness equipment replacement ($121,842), and furniture
replacement at Legends Hall ($88,000).

• The ending fund balance is projected to be $3,954,380.

282 FY 2023 City of Southlake | BUDGET BOOK
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