Page 278 - Southlake FY24 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.
DID YOU The establishment and funding of the Community Enhancement and
KNOW? Development Corporation - Replacement Fund was designed to even out
DID YOU
KNOW? expenses for the Community Enhancement and Development Corporation
from year to year and provide a logical method for purchasing and retiring
CEDC - REPLACEMENT FUND
needed equipment and capital outlay.
Parks/Recreation
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2 2024 Proposed and 2023 Revised Budget t
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2022 2 2023 2 2023 3 (Decrease) % Increase/ 2 2024 (Decrease) % Increase/
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Actual A Adopted A Amended Adopted -Decrease P Proposed d Adopted -Decrease
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R REVENUES
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Interest 1,248 500 55,000 54,500 10900.0% 50,000 49,500 9900.0%
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T Total Revenues s $ $1,248 8 $ $500 0 $ $55,000 0 $ $54,500 0 0 0.0% $ $50,000 0 $ $49,500 0 9 9900.0%
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Operations $0 $0 $0 $0 0.0% $0 0 0.0%
Capital 133,596 414,713 414,713 0 0.0% 1,408,309 993,596 239.6%
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T Total Expenditures s $ $133,596 6 $ $414,713 3 $ $414,713 3 $ $0 0 0 0.0% $ $1,408,309 9 $ $993,596 6 2 239.6%
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N Net Revenues s ( ($132,348) ) ( ($414,213) ) ( ($359,713) ) $ $54,500 0 ( ($1,358,309) ) ( ($944,096) )
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Transfer from other funds $3,056,800 $1,125,000 $1,125,000 $1,125,000
Transfer to other funds ($0) ($0) ($0) ($0)
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T Total Other Sources/(Uses) ) $ $3,056,800 0 $ $1,125,000 0 $ $1,125,000 0 $ $1,125,000 0
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Beginning Fund Balance $321,464 $3,245,916 $3,245,916 $4,011,203
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E Ending Fund Balance e $ $3,245,916 6 $ $3,956,703 3 $ $4,011,203 3 $ $3,777,894 4
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FY 2024 Highlights

- This fund was established in FY 2020 to set aside funds for equipment and furniture replacement at The
Marq Southlake.
- FY 2024 includes a projected transfer in from the Community Enhancement and Development
Corporation Fund of $1,125,000. Equipment replacement is based on the recommendations of The Marq
Asset Management Plan, and includes aquatics maintenance ($355,186), fitness equipment replacement
($162,969), and camera replacements at the Marq ($482,000).
- The ending fund balance is projected to be $3,777,894.
278 FY 2024 City of Southlake | Budget Book