Page 9 - Southlake FY24 Budget

Utility Fund Expenditures ......................................................................................................................... 233
This section provides the Utility Fund Summary. The Utility Fund is an enterprise or business fund.
This means that the direct beneficiaries of the “business” pay for all costs through fees or rates. Water,
sewer service, and solid waste service revenues generated through our rates, as well as the expenses for
providing these services are accounted for in the Utility Fund.

Vehicle Replacement Fund .......................................................................................................................237
This section provides a fund summary and detailed spending plan funds which provide the resources Table of Contents
needed to manage the purchase of vehicles for the City’s fleet. The establishment and funding of the
vehicle replacement program was designed to even out expenses for the City’s fleet from year to year and
provide a logical method for purchasing and retiring vehicles.

Debt Service ................................................................................................................................................. 241
This section provides a summary of the annual principal and interest payments for all outstanding bonded
debt and capital leases. Also included are some fast facts about the City’s use of debt and how that debt
is funded both through property tax revenue and through dedicated, self-supporting revenue streams
such as sales tax revenues for park development.

Tax Supported vs. Self-Supporting Debt ...........................................................................................................................242
Debt Management ........................................................................................................................................................................ 244
The Relationship Between Property Taxpayers and Debt Repayment ...............................................................245
General Obligation Debt Overview ...................................................................................................................................... 248
Revenue Bond Overview ........................................................................................................................................................... 250
Debt Service Fund .........................................................................................................................................................................252
Southlake Parks Development Corporation ......................................................................................................................253
Southlake Parks Development Corporation (SPDC) Debt Service Fund ...........................................................255
Community Enhancement and Development Corporation .......................................................................................257
Community Enhancement and Development Corporation (CEDC) Debt Service Fund ............................259

Special Revenue Funds ............................................................................................................................... 261
This section provides a detailed spending plan for funds which account for proceeds of specific revenue
sources that are legally restricted for certain purposes.

Introduction ......................................................................................................................................................................................263
What are special revenue funds? ...........................................................................................................................................263
How are special revenue funds used? ................................................................................................................................. 266
Fund Summaries & FY 2024 Highlights ............................................................................................................................. 269
Sales Tax Districts ..........................................................................................................................................................................271
Crime Control & Prevention District (CCPD) Fund ........................................................................................................272
Southlake Parks Development Corporation (SPDC) Fund ........................................................................................274
Community Enhancement and Development Corporation (CEDC) Fund .......................................................276
Commercial Vehicle Enforcement Fund ............................................................................................................................280
Court Security Fund ......................................................................................................................................................................281
Court Technology Fund ..............................................................................................................................................................282
Hotel Occupancy Tax Fund .......................................................................................................................................................283
Library Donation Fund ............................................................................................................................................................... 284
Park Dedication Fee Fund .........................................................................................................................................................285

FY 2024 City of Southlake | Budget Book 9