Page 320 - CityofSouthlakeFY26AdoptedBudget

Southlake Parks Development Corporation (SPDC)
Debt Service Fund

DID YOU This fund is used to account for the accumulation of financial resources
KNOW? for payment of long-term principle and interest costs for SPDC-
DID YOU
approved park improvements.
KNOW? SPDC - DEBT SERVICE FUND
Parks/Recreation
2026 Proposed and 2025 Revised Budget
Debt Service

$ Increase/ $ Increase/
2024 2025 2025 (Decrease) % Increase/ 2026 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest Income $106,554 $69,000 $95,000 $26,000 37.7% $84,000 $15,000 21.7%
Total Revenues $106,554 $69,000 $95,000 $26,000 37.7% $84,000 $15,000 21.7%

EXPENDITURES
Principal $2,409,000 $2,309,000 $2,309,000 $0 0.0% $2,044,000 ($265,000) -11.5%
Interest 373,446 296,789 296,789 0 0.0% 225,022 (71,767) -24.2%
Admin. Expenses 5,119 6,000 6,000 0 0.0% 6,000 0 0.0%
Total Expenditures $2,787,565 $2,611,789 $2,611,789 $0 0.0% $2,275,022 ($336,767) -12.9%

Net Revenues ($2,681,011) ($2,542,789) ($2,516,789) $0 ($2,191,022) ($336,767)

Bond Proceeds $0 $0 $0 $0
Transfers In $2,782,576 $2,605,789 $2,605,789 0 $2,269,022
Total Other Sources (Uses) $2,782,576 $2,605,789 $2,605,789 $2,269,022

Beginning Fund Balance $2,022,991 $2,124,556 $2,124,556 $2,213,556
Ending Fund Balance $2,124,556 $2,187,556 $2,213,556 $2,291,556

FY 2026 Highlights

- The Southlake Parks Development Corporation (SPDC) is responsible for paying principal and interest
on outstanding debt. For FY 2026, the SPDC Debt Service Fund will cover total expenditures of
$2,275,022 for this purpose.

320 FY 2026 City of Southlake | Budget Book FY 2026 City of Southlake | Budget Book 321