2020 Comprehensive Annual Financial Report

Schedule 2 7

Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2020

Variance Positive (Negative)

Final Budget

Actual

Revenues:

Interest Earnings:

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

$ 4,898,106

$ 3,762,480 (88,890) 3,673,590

$ (1,135,626) (88,890) (1,224,516)

4,898,106

Miscellaneous: Sales and Use Tax Refund Sale of Real Estate Total Miscellaneous

150,000

133,371 27,000 160,371

(16,629) 27,000 10,371

150,000

Appropriated Fund Balance

3,250,548

(3,250,548)

Total Revenues

8,298,654

3,833,961

(4,464,693)

Expenditures: Operating Expenditures: Personal Services Fringe Benefits

151,469 54,432 133,230 339,131

159,337 40,867 92,037 292,241

(7,868) 13,565 41,193 46,890

Maintenance and Operations Total Operating Expenditures

Debt Service: Principal Retirement Interest Fees and Other

21,906,068 12,404,195 596,305 34,906,568

21,906,068 10,745,583 473,468 33,125,119

1,658,612 122,837 1,781,449

Total Debt Service Expenditures

Total Expenditures

35,245,699

33,417,360

1,828,339

Excess of Revenues Under Expenditures

(26,947,045)

(29,583,399)

(2,636,354)

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 Under Expenditures and Other Financing Uses

32,458,015 2,404,290 (34,560,000) 26,644,740 26,947,045

32,458,013 2,404,290 (34,560,000) 26,644,740 26,947,043

(2)

(2)

$

(2,636,356)

(2,636,356)

Fund Balance - July 1

28,636,370

28,636,370

Fund Balance - June 30

$ 26,000,014

$ 26,000,014

-8 2 -