Page 420 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS
City of Southlake
SPDC Expenditure Guidelines
Southlake Parks Development Corporation

GUIDING PRINCIPLE:

SPDC expenditures will:

- Support the development, enhancement, and long-term operation of the City’s parks, recreation, and
open space system, consistent with the Parks, Recreation & Open Space Master Plan.
Appendix
- Comply with statutory provisions and voter authorization (Chapter 505, Texas Local Government Code
— Type B corporation).

- Support implementation of the Parks, Recreation & Open Space Master Plan.

- Support capital improvements and related debt service for park and recreation facilities, including:

- capital project funding and transfers; and

- debt service on park improvement obligations.

- Support the operation and maintenance of the City’s parks, recreation, and open space system:

- SPDC will fund a target share of total park maintenance costs, as established by City Council and
incorporated into these financial policies, with the remaining share funded by the General Fund;
- The cost-sharing target range is established at 50% - 75% of total park maintenance costs,
recognizing the need for flexibility to respond to year-to-year variation in maintenance needs, park
system growth or improvements, and available sales tax revenue, while maintaining a sustainable
and predictable level of SPDC support for park operations; and

- The cost-sharing target will be reviewed annually as part of the budget process.

420 FY 2027 City of Southlake | Budget Book