Page 286 - Southlake FY24 Budget

Parks and Recreation Fund

DID YOU This fund accounts for resources restricted for use by the Community
SPECIAL REVENUE FUND
KNOW? Services department. Such funds include event and other sponsorship funds
DID YOU
Park and Recreation
KNOW? collected through the City’s sponsorship program.

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2 2024 Proposed and 2023 Revised Budget t
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2
$ Increase/ $ Increase/
2022 2023 2023 (Decrease) % Increase/ 2024 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Donations/Sponsorships $25,710 $46,500 $35,000 ($11,500) -24.7% $66,500 $20,000 43.0%
Miscellaneous 0 0 0 0 0.0% 0 0 0.0%
Interest (729) 600 5,000 4,400 733.3% 4,300 3,700 616.7%
Special Revenue Funds
Total Revenues $24,981 $47,100 $40,000 ($7,100) -15.1% $70,800 $23,700 50.3%
EXPENDITURES
Parks and Recreation $36,880 $82,500 $72,500 ($10,000) -12.1% $87,500 5,000 6.1%
Park Improvements 0 0 0 0 0.0% 0 0 0.0%
Land 0 0 0 0 0.0% 0 0 0.0%
Total Expenditures $36,880 $82,500 $72,500 ($10,000) -12.1% $87,500 $5,000 6.1%
Net Revenues ($11,899) ($35,400) ($32,500) $2,900 ($16,700) $18,700
Transfer from other funds $0 $0 $0 $0
Transfer to other funds $0 $0 $0 $0
Total Other
Sources/(Uses) $0 $0 $0 $0
Beginning Fund Balance $205,139 $193,240 $193,240 $160,740
Ending Fund Balance $193,240 $157,840 $160,740 $144,040
FY 2024 Highlights

- Planned expenses in this fund are directed toward enhancing City special events, programs, athletic
fields, and parks for which sponsorships are granted. The funds received through sponsorships assist
with offsetting enhanced services offered to the community.
- The adopted budget reflects revenues of $66,500 in donations and sponsorships and $4,300 in interest
earnings for total revenues of $70,800.
- The adopted budget anticipates a beginning fund balance of $160,740. Expenses are estimated at
$87,500 leaving the fund with a projected fund balance of $144,040.

286 FY 2024 City of Southlake | Budget Book