Page 43 - CityofSouthlakeFY25AdoptedBudget

Southlake Parks SPDC Fund

Development Corporation Expenditure Highlights
Fund Personnel
The Southlake Parks Development Corporation Item Expenditure
(SPDC) is a voter-approved development Pay Adjustment – 3.5% Market
corporation established to develop, operate, and Maintain Compensation - General
maintain park and recreational facilities. The uses Market Position Government
of this half-cent sales tax are restricted to those Health Insurance 6.9% rate increase Budget Overview
allowed by law and approved by the Board of
Directors and City Council. Operations
Alarm Lock System –
The SPDC supports the implementation of the Park Facilities $85,000
City’s Southlake Parks, Recreation, and Open
Space Comprehensive Plan. Project priorities are Lightning Prediction $83,106
established as a joint effort between the staff, System
Parks and Recreation Board, Southlake Parks CCTV Installation and
Replacement – North
Development Corporation Board of Directors, and Park, Bob Jones Nature
City Council. Center & Preserve, $1,082,000
Bicentennial Park, Tennis
Revenue highlights. The SPDC operating fund is Center
projected to receive $11,671,472 in total revenue,
with sales tax budgeted at $10,962,603 of that
total, a projected 10.8% increase over the FY 2024
adopted budget. The remainder includes rental
income ($153,824), charges for service ($135,045)
and interest ($420,000). Total budgeted revenue
represents a projected 14.5% increase over the FY DID YOU
2024 adopted budget. KNOW?

Expenditure highlights. Total expenditures for
the operating fund are $3,619,522. This is a 27.9% Since its inception in 1994, the SPDC Fund
increase from the FY 2024 adopted budget,
primarily reflecting a budgeted increase in capital has collected about $149 million for park
costs related to the camera replacement program. projects such as North Park, the Bicentennial
The Southlake Parks Development Corporation Park improvements and the acquisition and
Board of Directors, and the Southlake Parks and development of Bob Jones Park.
Recreation Board approved the operating budget
at the August 6, 2024, joint meeting.

The adopted FY 2025 budget includes $1,890,676
for operations, $1,082,000 for capital expenses and $646,846 for personnel. SPDC park maintenance
expenditures represent about 50% of the current total park maintenance costs.

Personnel: SPDC funds two Maintenance Technicians, a Parks Supervisor, and staff to run the pickleball
facility. In addition, 25% of the salary and benefits for the City’s Project Manager is funded by SPDC. All
compensation and benefit adjustments previously mentioned will be funded by SPDC for these employees.

FY 2025 City of Southlake | Budget Book 43