Page 63 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS

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
for the Community Enhancement and Development Corporation. These guidelines were approved by
the CEDC Board of Directors on July 28, 2026, and 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 for
the operation of The Marq Southlake. This budget reflects implementation of these guidelines with a
$3,000,000 transfer to the capital improvements program to support roadway infrastructure Budget Overview

Fund balance. The ending fund balance for the CEDC operating fund is projected at $27,267,575,
a 4.4% increase. The CEDC Board of Directors approved the budget on July 28, 2026.

The CEDC debt service fund covers principal, interest, and administrative costs for bonds for the
construction of Champions Club. Total debt service expenditures are $2,449,431. The ending fund
balance for this fund is projected to be $837,550.

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.

Expenditure highlights. There are no budgeted expenditures from this fund for the fiscal year.

Fund balance. The ending fund balance is projected to be $4,385,657.

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 2027 City of Southlake | Budget Book 63