Page 275 - CityofSouthlakeFY25AdoptedBudget

Community Enhancement and Development Corporation
(CEDC) Debt Service Fund

The Community Enhancement and Development Corporation Debt Service
DID YOU Fund is used to account for the accumulation of financial resources for
CEDC - DEBT SERVICE FUND
KNOW? payment of long-term principle and interest costs for debt incurred to
DID YOU
KNOW? construct Champions Club at The Marq Southlake.
Parks/Recreation
2025 Proposed and 2024 Revised Budget Debt Service
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 $61,802 $35,000 $35,000 $0 0.0% $35,000 $0 0.0%
Total Revenues $61,802 $35,000 $35,000 $0 0.0% $35,000 $0 0.0%

EXPENDITURES
Principal $1,540,000 1,620,000 $1,620,000 $0 0.0% $1,695,000 $75,000 4.6%
Interest 899,206 822,556 822,556 0 0.0% 742,031 (80,525) -9.8%
Admin. Expenses 5,000 8,000 8,000 0 0.0% 8,000 0 0.0%
Total Expenditures $2,444,206 $2,450,556 $2,450,556 $0 0.0% $2,445,031 ($5,525) -0.2%

Net Revenues ($2,382,404) ($2,415,556) ($2,415,556) $0 ($2,410,031) ($5,525)

Bond Proceeds $0 $0 $0 $0
Transfers In $2,447,206 $2,450,556 $2,450,556 0 $2,445,031
Total Other Sources (Uses) $2,447,206 $2,450,556 $2,450,556 $2,445,031

Beginning Fund Balance $550,968 $615,770 $615,770 $650,770
Ending Fund Balance $615,770 $650,770 $650,770 $685,770

FY 2025 Highlights

- The Community Enhancement and Development Corporation (CEDC) is responsible for paying
principal and interest on outstanding debt. For FY 2024, the CEDC Debt Service Fund will cover total
expenditures of $2,445,031 for this purpose.

FY 2025 City of Southlake | Budget Book 275