Page 354 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS

Storm Water Utility
This fund accumulates dollars collected by the storm water utility fee paid monthly by the owners of all
of Southlake’s developed properties. These fees provide a funding source for maintenance, repair, and
construction of storm water facilities, and can only be spent for these purposes. The monthly storm
water fee is the same for all residential dwelling units. Residential properties are charged $10 per month.
Fees for non-residential properties are calculated individually in proportion to each property’s storm
water runoff potential.

Tax Increment Finance District
Tax Increment Reinvestment Zone (TIRZ #1) or the Tax Increment Finance (TIF) District was created in
1997, with an effective beginning date of January 1, 1998. It was designed to encourage quality commercial
development in the City. Incremental values subsequent to January 1997 are taxed at the City’s tax rate;
however, 100% of the “captured” ad valorem revenues are utilized within the zone, rather than being
allocated to the City’s overall budget. Overlapping taxing entities, including Tarrant County, Tarrant
Special Revenue Funds
County College District, Tarrant County Hospital District, and the Carroll Independent School District
have participated at varying levels as investors in TIRZ #1 by assigning their ad valorem tax dollars as
well. These funds pay for public projects in Town Square, such as water, sewer and roads within the
District. In 2018, TIRZ #1 was extended for an additional 20 years. This means that funds will continue to
be collected on the incremental tax value and invested in the zone for an additional twenty years. The
City of Southlake and Carroll ISD are the only participating entities with the 20 year extension.

HOW ARE SPECIAL REVENUE FUNDS USED?

Figure 1 and Figure 2 illustrate all City revenues and expenditures and show that the General Fund and
Utility Fund account for about 67% of revenues and expenditures (to read more about these funds
see the General Fund and Utility Fund sections). These charts also show that aside from debt service,
special revenue funds account for the remainder.

So what does this mean for Southlake? By utilizing special revenue funds, the City is able to strategically
invest dollars in projects that can be funded through dedicated revenue streams rather than spreading
these costs to the property taxpayers by spending General Fund property tax revenues.

354 FY 2027 City of Southlake | Budget Book