Page 55 - CityofSouthlakeFY26AdoptedBudget

Costs include standard expenses like utilities, supplies, marketing and promotional materials. Funds are
also included to support expanded marketing efforts to enhance the City’s economic development and
Budget Overview
business recruitment efforts.

Capital: The budget shows no capital expenses in the operating budget. The CEDC Replacement Fund
will provide dollars for capital purchases as recommended in the adopted replacement plan.

Indirect charge/transfers: A transfer of $541,404 to the General Fund is planned for the indirect charge
and $325,000 to the capital improvements program. We are also planning to transfer $2,444,806 to the
CEDC Debt Service Fund and $1,125,000 for capital replacement needs.

The CEDC Replacement Fund has been established to ensure that Champions Club and Legends Hall
are maintained properly. The budget includes $1,845,046 for planned replacements. With the transfer in
of $1,125,000, the ending fund balance in the replacement fund will be $5,220,469.

Fund balance. The ending fund balance for the CEDC operating fund is projected at $25,655,890, an
11.83% increase. The CEDC Board of Directors approved the budget on August 4, 2025.

The CEDC debt service fund covers principal, interest, and administrative costs for bonds for the
construction of Champions Club. Total debt service expenditures are $2,444,806. The ending fund
balance for this fund is projected to be $729,297.

Economic Development Investment Fund

The Economic Development Comprehensive Plan includes a recommendation to build an economic
development investment fund. We will continue to implement this recommendation for this fiscal year.

Revenue highlights. Revenue is projected at $120,000 (interest), and we will transfer $150,000 to this
fund, as we work to build its balance for future use.

Southlake Economic Development
Comprehensive Plan

ED15: Maintain ongoing, dedicated funding to achieve economic
development goals by continuing investment in the Economic
Development Investment Fund.

FY 2026 City of Southlake | Budget Book 55