Page 340 - CityofSouthlakeFY26AdoptedBudget

Southlake Parks Development Corporation
(SPDC) Fund

The Southlake Parks Development Corporation, a citizen-approved, development
corporation established to develop and operate park and recreational facilities, uses
a half-cent sales tax for all uses permitted by State law. The operating fund is used
DID YOU to finance, develop and operate park and recreation facilities, while the debt service
SPDC - OPERATING FUND
KNOW? fund is used to account for the accumulation of financial resources for payment of
long-term principle and interest costs for SPDC improvements. The uses of this fund
Parks/Recreation
are restricted to those allowed by law and approved by the Board of Directors.
2026 Proposed and 2025 Revised Budget

$ Increase/ $ Increase/
2024 2025 2025 (Decrease) % Increase/ 2026 (Decrease) % Increase/
Special Revenue Funds
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Sales Tax $10,661,725 $10,962,603 $11,200,000 $237,397 2.2% $11,368,000 $405,397 3.7%
Rental Income 139,534 153,824 153,824 0 0.0% 153,824 0 0.0%
Charges for Service 115,798 135,045 157,905 22,860 16.9% 187,090 52,045 38.5%
Interest 599,793 420,000 325,000 (95,000) -22.6% 300,000 (120,000) -28.6%
Total Revenues $11,516,850 $11,671,472 $11,836,729 $165,257 1.4% $12,008,914 $337,442 2.9%

EXPENDITURES
Personnel $576,980 $646,846 $646,846 $0 0.0% $659,426 $12,580 1.9%
Operations $1,451,717 $1,890,676 $1,900,046 9,370 0.5% $1,891,321 645 0.0%
Capital $381,447 $1,082,000 $1,082,000 0 0.0% $1,020,500 (61,500) -5.7%
Total Expenditures $2,410,144 $3,619,522 $3,628,892 $9,370 0.3% $3,571,247 ($48,275) -1.3%

Net Revenues $9,106,706 $8,051,950 $8,207,837 $155,887 $8,437,667 $385,717

Transfers Out (8,738,795) (9,072,648) (9,079,258) $6,610 (8,749,379) (323,269)
Proceeds from C.O. Sale 0 0 0 0
Total Other Sources (Uses) ($8,738,795) ($9,072,648) ($9,079,258) ($8,749,379)
Beginning Fund Balance $14,248,887 $14,616,798 $14,616,798 $13,745,377
Ending Fund Balance $14,616,798 $13,596,100 $13,745,377 $13,433,665

FY 2026 Highlights

- The SPDC operating fund is projected to receive $12,008,914 in total revenue, with sales tax budgeted
at $11,368,000 of that total, a projected 3.7% increase over the FY 2025 adopted budget. The
remainder includes rental income ($153,824), charge for service ($187,090) and interest ($300,000).
Total budgeted revenue represents a projected 2.9% increase over the FY 2025 adopted budget.

- Total expenditures for the operating fund are $3,571,247. This is a 1.3% decrease from the FY 2025
adopted budget.
- The adopted FY 2026 budget includes $1,891,321 for operations, $1,020,500 for capital expenses and
$659,426 for personnel. SPDC park maintenance expenditures represent about 52% of the current
total park maintenance costs. The plan to fund certain maintenance costs in SPDC is balanced with
comprehensive plan implementation, capital costs, and fund balance needs.
- The ending fund balance for the SPDC Operating Fund will be $13,433,665.

340 FY 2026 City of Southlake | Budget Book