Page 28 - Southlake FY24 Budget

Southlake Parks Development SPDC Fund
Corporation Fund Expenditure Highlights

The Southlake Parks Development Corporation (SPDC) is a Personnel
voter-approved development corporation established to develop, Item Expenditure
operate, and maintain park and recreational facilities. The uses of
Up to 4.5%
this half-cent sales tax are restricted to those allowed by law and Pay Adjustment combined Merit
approved by the Board of Directors and City Council. and Market

The SPDC supports the implementation of the City’s Southlake Health 6.9% rate
Parks, Recreation, and Open Space Comprehensive Plan. Project Insurance increase
priorities are established as a joint effort between the staff, Parks
Transmittal Letter
and Recreation Board, Southlake Parks Development Corporation Personnel and Operations
Board of Directors, and City Council. - Service Enhancements
Pickleball
Facility
Personnel, $436,603
Revenue highlights. The SPDC operating fund is projected to Operations, and
receive $10,203,824 in total revenue. This represents a projected Equipment
1.5% increase over the FY 2023 adopted budget.
Operations
Expenditure highlights. Total expenditures for the operating fund
are $2,829,897. This is a 47.4% increase from the FY 2023 adopted Parks Electric $52,000
Utilities
increase
budget, primarily reflecting the extension of our park services
to include a pickleball complex and supporting programs. The
Southlake Parks Development Corporation Board of Directors, and Landscape $3,400
Services
the Southlake Parks and Recreation Board approved the adopted Contract increase
operating budget at the August 1, 2023, joint meeting.
Capital
The adopted FY 2024 budget includes $1,727,570 for operations, Annual
$472,500 for capital expenses and $629,827 for personnel. SPDC Parks ADA $100,000
park maintenance expenditures represent about 39% of the Enhancements
current total park maintenance costs.

Skid Steer $62,000
Loader

DID YOU Stand-on
KNOW? Spreader $17,500

Sprayer

Since its inception in 1994, the SPDC Fund has
collected about $138 million for park projects such as
North Park, the Bicentennial Park improvements and
the acquisition and development of Bob Jones Park.

28 FY 2024 City of Southlake | Budget Book