Page 271 - CityofSouthlakeFY25AdoptedBudget

Southlake Parks Development Corporation (SPDC) Debt
Service Fund

DID YOU This fund is used to account for the accumulation of financial resources for
KNOW? payment of long-term principle and interest costs for SPDC-approved park
DID YOU
SPDC - DEBT SERVICE FUND
KNOW? improvements.
Parks/Recreation Debt Service
2025 Proposed and 2024 Revised Budget
11:15 AM
08/09/24
$ Increase/ $ Increase/
2023 2024 2024 (Decrease) % Increase/ 2025 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest Income $114,801 $69,000 $76,000 $7,000 10.1% $69,000 $0 0.0%
Total Revenues $114,801 $69,000 $76,000 $7,000 10.1% $69,000 $0 0.0%

EXPENDITURES
Principal $2,334,000 $2,409,000 $2,409,000 $0 0.0% $2,309,000 ($100,000) -4.2%
Interest 450,383 373,576 373,576 0 0.0% 296,789 (76,787) -20.6%
Admin. Expenses 5,034 6,000 6,000 0 0.0% 6,000 0 0.0%
Total Expenditures $2,789,417 $2,788,576 $2,788,576 $0 0.0% $2,611,789 ($176,787) -6.3%

Net Revenues ($2,674,616) ($2,719,576) ($2,712,576) $0 ($2,542,789) ($176,787)

Bond Proceeds $0 $0 $0 $0
Transfers In $2,784,383 $2,782,576 $2,782,576 0 $2,605,789
Total Other Sources (Uses) $2,784,383 $2,782,576 $2,782,576 $2,605,789

Beginning Fund Balance $1,913,224 $2,022,991 $2,022,991 $2,092,991
Ending Fund Balance $2,022,991 $2,085,991 $2,092,991 $2,155,991

FY 2025 Highlights

- The Southlake Parks Development Corporation is responsible for paying principal and interest on
outstanding debt. For FY 2025, the SPDC Debt Service Fund will cover total expenditures of $2,611,789
for this purpose.

FY 2025 City of Southlake | Budget Book 271