Page 294 - CityofSouthlakeFY25AdoptedBudget

Community Enhancement and Development Corporation
Fund - 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.
DID YOU The establishment and funding of the Community Enhancement and
KNOW? Development Corporation - Replacement Fund was designed to even out
DID YOU
KNOW? expenses for the Community Enhancement and Development Corporation
from year to year and provide a logical method for purchasing and retiring
CEDC - REPLACEMENT FUND
needed equipment and capital outlay.
Parks/Recreation
2025 Proposed and 2024 Revised Budget

$ Increase/ $ Increase/
Special Revenue Funds
2023 2024 2024 (Decrease) % Increase/ 2025 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest 151,377 50,000 170,000 120,000 240.0% 170,000 120,000 240.0%
Total Revenues $151,377 $50,000 $170,000 $120,000 0.0% $170,000 $120,000 240.0%

EXPENDITURES
Operations $0 $0 $0 $0 0.0% $0 0 0.0%
Capital 180,103 1,408,309 1,408,309 0 0.0% 743,496 (664,813) -47.2%
Total Expenditures $180,103 $1,408,309 $1,408,309 $0 0.0% $743,496 ($664,813) -47.2%

Net Revenues ($28,726) ($1,358,309) ($1,238,309) $120,000 ($573,496) $784,813
Transfer from other funds $1,125,000 $1,125,000 $1,125,000 $1,125,000
Transfer to other funds ($0) ($0) ($0) ($0)
Total Other Sources/(Uses) $1,125,000 $1,125,000 $1,125,000 $1,125,000

Beginning Fund Balance $3,245,916 $4,342,190 $4,342,190 $4,228,881
Ending Fund Balance $4,342,190 $4,108,881 $4,228,881 $4,780,385

FY 2025 Highlights

- This fund was established in FY 2020 to set aside funds for equipment and furniture replacement at The
Marq Southlake.

- FY 2025 includes a projected transfer in from the Community Enhancement and Development Corporation
Fund of $1,125,000. Equipment replacement is based on the recommendations of The Marq Asset
Management Plan, and includes $743,496 in FY 2025 planned expenditures.

- The ending fund balance is projected to be $4,780,385.

294 FY 2025 City of Southlake | Budget Book