Page 348 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS

COMMUNITY ENHANCEMENT AND DEVELOPMENT
CORPORATION (CEDC) DEBT SERVICE FUND

CEDC - DEBT SERVICE FUND
Parks/Recreation
2027 Proposed and 2026 Revised Budget

$ Increase/ $ Increase/
2025 2026 2026 (Decrease) % Increase/ 2027 (Decrease) % Increase/
Actual Adopted Amended Adopted -Decrease Proposed Adopted -Decrease
REVENUES
Interest Income $75,403 $35,000 $50,000 $15,000 42.9% $50,000 $15,000 42.9%
Total Revenues $75,403 $35,000 $50,000 $15,000 42.9% $50,000 $15,000 42.9%

EXPENDITURES
Principal $1,695,000 1,770,000 $1,770,000 $0 0.0% $1,835,000 $65,000 3.7%
Interest 742,031 666,806 666,806 0 0.0% 606,431 (60,375) -9.1%
Admin. Expenses 5,150 8,000 8,000 0 0.0% 8,000 0 0.0%
Total Expenditures $2,442,181 $2,444,806 $2,444,806 $0 0.0% $2,449,431 $4,625 0.2%
Net Revenues ($2,366,778) ($2,409,806) ($2,394,806) $0 ($2,399,431) $4,625

Bond Proceeds $0 $0 $0 $0
Transfers In $2,445,031 $2,444,806 $2,444,806 0 $2,449,431
Total Other Sources (Uses) $2,445,031 $2,444,806 $2,444,806 $2,449,431

Beginning Fund Balance $659,297 $737,550 $737,550 $787,550
Ending Fund Balance $737,550 $772,550 $787,550 $837,550

FY 2027 HIGHLIGHTS

- The Community Enhancement and Development Corporation is responsible for paying principal and
interest on outstanding debt. For FY 2027, the CEDC Debt Service Fund will cover total expenditures
of $2,449,431 for this purpose.