Page 83 - CityofSouthlakeFY27Budget

TABLE OF CONTENTS
still must borrow to build needed infrastructure.
As mentioned, a portion of the revenue generated
by the property tax rate is allocated to support
long-term bond projects through the Debt Service
Fund. A Capital Improvements Program details
the projects and costs for a five-year period and
identifies future unfunded projects. The Debt
Service Fund provides the needed money to build
these projects.
Special Revenue Funds.
These funds are general government funds where
the source of revenue is dedicated to a specific
purpose:
Commercial Vehicle Enforcement.
This fund accounts for fines collected from
commercial vehicle violations. Use of these funds
is restricted for commercial vehicle enforcement,
per State law.
Community Enhancement and Development
Corporation (CEDC).
The Community Enhancement and Development
Corporation was formed when Southlake voters
approved the special levy of a 3/8 cent sales
tax in 2015. The funds are dedicated toward the
construction of Champions Club at The Marq
Southlake, a community events and recreation
facility. Funds are used to support operational
expenses related to The Marq as well as special
economic development projects.
Community Enhancement and Development
Corporation - Replacement Fund.
The Community Enhancement and Development
Corporation - Replacement Fund accounts for
the resources needed to manage the purchase of
replacement equipment and capital outlay at The
Marq Southlake. The establishment and funding of
the Community Enhancement and Development
Corporation - Replacement Fund was designed
to even out expenses for the Community
Enhancement and Development Corporation
from year to year and provide a logical method
for purchasing and retiring needed equipment
and capital outlay.
Court Security.
This fund accounts for a percentage of the
monies collected from the payment of fines and
forfeitures. Use of these funds is restricted for the Budget Basics
purchase of court security items, per State law.
Court Technology.
This fund accounts for a percentage of the
monies collected from the payment of fines and
forfeitures. Use of these funds is restricted for
purchase of court technology, per State law.
Crime Control and Prevention District (CCPD).
The half-cent sales tax collection to fund the
Crime Control and Prevention District began in
April 1998, with the first sales tax check received
in June 1998. State law provides that a district’s
initial life is limited to five years. Voters may
continue the district by approval of a referendum.
In February 2002, Southlake voters approved the
continuation of the CCPD for 15 years and in May
2015, voters approved the reduction of the sales
tax to 1/8 cent, and in May 2017 voters reauthorized
the CCPD through 2038. This fund has been used
to build facilities for and to support the Southlake
Police Department. This fund also supports the
City’s School Resource Officer Program.
Hotel Occupancy Tax.
The Hotel Occupancy Tax is authorized under
the Texas Tax Code, Chapter 351. The City of
Southlake adopted Ordinance No. 769 in February
2000, levying a 7% tax on room receipts. The tax
on rooms is providing the revenues to the City
in this category. The first expenditures from this
fund were made in FY 2008. Use of these funds
is restricted. Expenses must be authorized uses
under the Texas Tax Code, Chapter 351.
Library Donations.
This fund accounts for library donations collected.
FY 2027 City of Southlake | Budget Book 83