2019 Comprehensive Annual Financial Report (CAFR)

Schedule 28

Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2019

Variance Positive (Negative)

Final Budget

Actual

Revenues:

Interest Earnings: Investment Income Net Increase (Decrease) in the Fair Value of Investments Total Investment Income

$

845,791 966,059 1,811,850

$

3,225,750

$

4,071,541 966,059 5,037,600

3,225,750

Miscellaneous: Sales and Use Tax Refund

150,000

191,317

41,317

Appropriated Fund Balance

49,045

(49,045)

Total Revenues

3,424,795

5,228,917

1,804,122

Expenditures: Operating Expenditures: Personal Services Fringe Benefits

37,857 20,104 21,942 79,903

106,845 28,938 93,386 229,169

144,702 49,042 115,328 309,072

Maintenance and Operations Total Operating Expenditures

Debt Service: Principal Retirement Interest Fees and Other

3,615,580 1,768,691 753,804 6,138,075

14,078,932 8,614,130 290,196 22,983,258

17,694,512 10,382,821 1,044,000 29,121,333

Total Debt Service Expenditures

Total Expenditures

29,430,405

23,212,427

6,217,978

Excess of Revenues Under Expenditures

(26,005,610)

(17,983,510)

8,022,100

Other Financing Sources (Uses): Debt Issuances: General Obligation Refunding Bonds Issued Premium on Debt Payment to Escrow Agent for Refunding of Debt Transfers In Total Other Financing Sources (Uses) Excess of Revenues and Other Financing Sources Over Expenditures and Other Financing Uses

(15,901,953) 3,346,364 12,589,037 (2,600,000) (2,566,552)

64,570,000

48,668,047 3,346,364 (51,980,963) 23,405,610 23,439,058

(64,570,000) 26,005,610 26,005,610

$

5,455,548

5,455,548

Fund Balance - July 1

23,180,822

23,180,822

Fund Balance - June 30

$ 28,636,370

$ 28,636,370

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