Page 46 - CityofSouthlakeFY25AdoptedBudget

Community Enhancement CEDC Fund

and Development Expenditure Highlights
Corporation Personnel
In May 2015, Southlake voters overwhelmingly Item Expenditure
approved the reallocation of a portion of the CCPD Pay Adjustment – 3.5% Market
half-cent sales tax for the purpose of constructing Maintain Compensation - General
and operating a recreation center through the Market Position Government
Community Enhancement and Development Health Insurance 6.9% rate increase
Corporation (CEDC). The CCPD half-cent sales
tax was reduced to a one-eighth cent tax and the Operations
remaining three-eighths was reallocated to address
recreational and economic development needs for Holiday Décor – Marq $5,000
Budget Overview
the city, as permitted by State law, through the
CEDC. Marq Security Contract $22,415
Increase

The corporation funding is used to supplement the Facility Maintenance $18,000
operating expenses for The Marq Southlake not Supplies
recovered with facility and program fees. The funds
also pay debt service on bonds used to construct Other Facility
the facility. A portion of the funds is also used for Supplies (fitness, retail $27,577
concessions, member
economic development initiatives. appreciation, uniforms)

Sales tax collections for the district began in Customer service app - $12,000
October 2015. A seven-member board of directors Captivate
works with the City Council to oversee the budget.
Economic Development
Business Recruitment
The CEDC operating fund highlights are shown as Program, Phase 1:
follows: Marketing Strategy, $117,000
Campaign Development
& Execution
Revenue highlights. For FY 2025, $13,339,312 in
total revenue is anticipated for the CEDC operating Economic Development
fund. This represents a projected increase of 9% for Business Recruitment
the CEDC operating budget. Program, Phase $133,000
2 –Marketing
Implementation
Expenditure highlights. Total operating expenses
for the CEDC are estimated at $6,466,590. Transfers
for the indirect charge, CEDC Replacement Fund
and debt service total $4,103,603. The ending fund CEDC Fund
balance is projected at $22,156,066. Expenditure Highlights

Personnel: The CEDC budget includes resources Capital
needed to manage and operate both Legends Hall
and Champions Club at The Marq. This fund will Capital Replacement per
cover its portion of employee pay adjustments Schedule $743,496
and the increases in benefit costs as described
previously. Total personnel costs for FY 2025 are
$3,575,322. No new personnel are requested for FY
2025.

46 FY 2025 City of Southlake | Budget Book