Page 306 - Southlake FY24 Budget
P. 306
Budget Glossary
C Commercial Vehicle Enforcement Fund:
This fund accounts for fines collected from
Capital Assets: Assets of significant value which commercial vehicle violations. Use of these
have a useful life of several years. Also referred to funds is restricted for commercial vehicle
as fixed assets. enforcement, per State law.
Capital Budget: Major capital improvements Community Enhancement and Development
Appendix
which are beyond the routine operation of the Corporation (CEDC): The Community
city are budgeted under separate capital project Enhancement and Development Corporation
funds. These projects, which often require more was formed when Southlake voters approved the
than one year for completion, include items such special levy of a 3/8 cent sales tax in 2015. The
as expansion of roads and reconstruction of funds are dedicated toward the construction of
intersections. In total, these projects are referred Phase II of The Marq Southlake, a community
to as the Capital Budget and are not included in events and recreation facility. Funds will also
the annual operating budget. be used to support operational expenses
related to The Marq as well as special economic
Capital Improvements Program (CIP): A plan development projects.
for capital expenditures to be incurred each
year over a fixed period of years, identifying the Community Enhancement and Development
expected beginning and ending date, and the Corporation (CEDC) Debt Service Fund: The
amount to be expended in each year and the Community Enhancement and Development
method of financing those expenditures. Corporation Debt Service Fund is used to
account for the accumulation of financial
Capital Outlays: Annual operating expenditures resources for payment of long-term principle and
for the acquisition of, or addition to, fixed assets. interest costs for debt incurred to construct The
These expenditures generally cost more than Marq Southlake Phase II.
$5,000, including construction projects, land
acquisition, major renovations or repairs to Contingency: A budgetary reserve set aside for
existing grounds or facilities, and equipment emergencies or unforeseen expenditures.
purchases.
Court Security Fund: The Court Security Fund
Capital Projects: Projects which purchase or is used to account for municipal court fees
construct capital assets. Typically a capital assessed to provide for court security.
project encompasses a purchase of land and/or
the construction of a building or facility. Court Technology Fund: The Court Technology
Fund is used to account for municipal court fees
Certificate of Obligations (COs): Similar to assessed to provide for court technology.
general obligation bonds except the certificates
require no voter approval. Crime Control & Prevention District (CCPD): A
citizen approved district that utilizes a half-cent
sales tax for the purchase of land and capital
improvements for the Department of Public
Safety.
306 FY 2024 City of Southlake | Budget Book
