Page 60 - CityofSouthlakeFY27Budget

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We are also planning to transfer $2,023,424 to
debt service and $6,000,000 to the CIP for cash
funding of capital park projects. The Southlake
Parks Development Corporation is also responsible
for paying principal and interest on outstanding
debt. The SPDC debt service fund will cover total
expenditures of $2,029,424 for this purpose.

Expenditure guidelines. As part of the FY 2027
budget, staff worked with the City Council at the
summer strategic priorities workshop to establish
new guiding principles and cost-sharing guidelines
Budget Overview
for the Southlake Parks Development Corporation.
These guidelines are incorporated into the City’s
financial policies as part of this budget and clarify
how costs are shared between the Corporation
and the General Fund, aligning the use of this
voter-approved sales tax with the purposes for
which it was established. In accordance with these guidelines, this budget includes a reallocation of
$169,952 from the General Fund parks maintenance budget; however, this reallocation does not increase
the total park maintenance cost share of 50% when compared to prior year.
Fund balance. The adopted ending fund balance for the SPDC operating fund will be $15,312,397, a
13.9% increase from the prior year adopted budget. The ending fund balance for the SPDC debt service
fund is projected to be $2,409,227, a 3.2% increase from the prior adopted budget.

CRIME CONTROL AND PREVENTION DISTRICT FUND

The half-cent sales tax collection to fund the Crime Control and Prevention District (CCPD) began in
April 1998, with the first sales tax check received
in June 1998. State law provides that a district’s life CCPD Fund
is limited to five years unless voters continue the Expenditure Highlights
district by approval of a referendum. In February Personnel
2002, Southlake voters approved the continuation
of the CCPD for 15 years, and the district was set to Item Expenditure
sunset in 2018 unless reauthorized by the voters. Pay Adjustment All Employees -
(COLA, includes Market) 3%
In May 2015, Southlake voters chose to reallocate
a three-eighths cent portion from the CCPD to the Health Insurance 4% rate increase
formation of a sales tax district to fund recreational
and economic development projects. This left a Operations & Equipment
one-eighth cent allocation remaining for CCPD
activities through the new sunset period, 2038, as Body camera
authorized by the voters in May 2017. system upgrade & $484,138
replacement

60 FY 2027 City of Southlake | Budget Book FY 2027 City of Southlake | Budget Book 61