Page 44 - CityofSouthlakeFY25AdoptedBudget

Operations: Expenses include annual costs associated with maintenance and operations of parks and park
improvements.

Capital: The operating budget includes funding for equipment necessary to maintain the park system.

Indirect charge/transfers: A transfer of $466,859 to the General Fund is planned for the indirect charge.
We are also planning to transfer $2,605,789 to debt service and $6,000,000 to the CIP for cash funding of
capital park projects. The Southlake Parks Development Corporation is also 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.

Fund balance. The adopted ending fund balance for the SPDC operating fund will be $13,069,866, a 10.7%
increase from the FY 2024 adopted budget. The ending fund balance for the SPDC debt service fund is
Budget Overview
projected to be $2,155,991, a 3.4% increase from the FY 2024 adopted budget.

Initiatives funded through the Southlake Parks Development
Corporation address the focus area of Infrastructure & Development
and the strategic corporate objective of “Investing to provide &
maintain high quality public assets.”

44 FY 2025 City of Southlake | Budget Book