Page 29 - Southlake FY24 Budget

Below are highlights of adopted expenses for the fund:

Personnel: SPDC funds two Maintenance Technicians, a Parks Supervisor, and staff to run the new pickleball
facility. Pickleball staff is comprised of 6.55 FTE, including a Pickleball Manager, Pickleball Coordinator and
part-time support staff. In addition, 25% of the salary and benefits for the City’s Project Manager is funded
by SPDC. All compensation and benefit adjustments previously mentioned will be funded by SPDC for
these employees. Transmittal Letter

The construction of a new Pickleball Complex necessitates fully implementing a staffing and operational
plan for the program. The total full-year operating cost of the program is $436,603.

Operations: Expenses include annual costs associated with maintenance and operations of parks and park
improvements.

Capital: The operating budget includes funding for equipment necessary to maintain the park system.

Indirect charge/transfers: A transfer of $408,153 to the General Fund is planned for the indirect charge. We
are also planning to transfer $2,782,576 to debt service and $5,500,000 to the CIP. The Southlake Parks
Development Corporation is also responsible for paying principal and interest on outstanding debt. For FY
2024, the SPDC debt service fund will cover total expenditures of $2,788,576 for this purpose.

Fund balance: The adopted ending fund balance for the SPDC operating fund will be $11,194,715. The ending
fund balance for the SPDC debt service fund is projected to be $2,046,224.

Initiatives funded through the Southlake Parks Development
Corporation address the focus area of Infrastructure & Development
and the strategic corporate objective of “Investing to provide &
maintain high quality public assets.”

FY 2024 City of Southlake | Budget Book 29