Page 57 - Southlake FY24 Budget

Debt Service Fund.
Although the Strategic Initiative Fund provides cash for pay-as-you-go capital projects, the City still must
borrow to build needed infrastructure. As mentioned, a portion of the revenue generated by the property
tax rate is allocated to support long-term bond projects through the Debt Service Fund. A Capital
Improvements Program details the projects and costs for a five-year period and identifies future unfunded
projects. The Debt Service Fund provides the needed money to build these projects.

Special Revenue Funds.
These funds are general government funds where the source of revenue is dedicated to a specific Budget Overview
purpose:

Commercial Vehicle Enforcement.
This fund accounts for fines collected from commercial vehicle violations. Use of these funds is restricted
for commercial vehicle enforcement, per State law.

Community Enhancement and Development Corporation (CEDC).
The Community Enhancement and Development Corporation was formed when Southlake voters
approved the special levy of a 3/8 cent sales tax in 2015. The funds are dedicated toward the
construction of Champions Club at The Marq Southlake, a community events and recreation facility.
Funds are used to support operational expenses related to The Marq as well as special economic
development projects.

Community Enhancement and Development Corporation - 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. The establishment and funding of the Community Enhancement and Development
Corporation - Replacement Fund was designed to even out expenses for the Community Enhancement
and Development Corporation from year to year and provide a logical method for purchasing and retiring
needed equipment and capital outlay.

Court Security.
This fund accounts for a percentage of the monies collected from the payment of fines and forfeitures.
Use of these funds is restricted for the purchase of court security items, per State law.

Court Technology.
This fund accounts for a percentage of the monies collected from the payment of fines and forfeitures.
Use of these funds is restricted for purchase of court technology, per State law.

Crime Control and Prevention District (CCPD).
The half-cent sales tax collection to fund the Crime Control and Prevention District began in April 1998,
withthe first sales tax check received in June 1998. State law provides that a district’s initial life is limited
to five years. Voters may continue the district by approval of a referendum. In February 2002, Southlake
voters approved the continuation of the CCPD for 15 years and in May 2015, voters approved the
reduction of the sales tax to 1/8 cent, and in May 2017 voters reauthorized the CCPD through 2038. This
fund has been used to build facilities for and to support the Southlake Police Department. This fund also
supports the City’s School Resource Officer Program.

FY 2024 City of Southlake | Budget Book 57