2021 Annual Comprehensive Financial Report

Schedule 28

Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2021

Variance Positive (Negative)

Final

Budget

Actual

Revenues: Interest Earnings: Investment Income

$

3,682,862

$

912,469 (488,624) 423,845

(2,770,393) $

Net Increase (Decrease) in the Fair Value of Investments

(488,624) (3,259,017)

Total Investment Income

3,682,862

Miscellaneous: Sales and Use Tax Refund

150,000

249,273

99,273 6,662 105,935

Other Revenue

6,662

Total Miscellaneous

150,000

255,935

Appropriated Fund Balance

8,897,060

(8,897,060)

Total Revenues

679,780

(12,050,142)

12,729,922

Expenditures: Operating Expenditures: Personal Services

162,303 57,522 130,250 350,075

172,743 43,036 76,074 291,853

(10,440) 14,486 54,176 58,222

Fringe Benefits

Maintenance and Operations Total Operating Expenditures

Debt Service: Principal Retirement

24,410,000 12,440,170

24,490,000 12,241,552

(80,000) 198,618 122,981 241,599

Interest

Fees and Other

315,170

192,189

Total Debt Service Expenditures

37,165,340

36,923,741

Total Expenditures

37,515,415

37,215,594

299,821

Excess of Revenues Under Expenditures

(24,785,493)

(36,535,814)

(11,750,321)

Other Financing Sources (Uses): Debt Issuances: General Obligation Refunding Bonds Issued

16,755,000 3,672,620 (20,432,550) 24,790,423 24,785,493

16,755,000 3,672,618 (20,432,550) 24,790,423 24,785,491

Premium on Debt

(2)

Payment to Escrow Agent for Refunding of Debt

Transfers In

Total Other Financing Sources (Uses)

(2)

Excess of Revenues and Other Financing Sources Under Expenditures and Other Financing (Uses)

$

(11,750,323)

(11,750,323)

Fund Balance - July 1

26,000,014

26,000,014

Fund Balance - June 30

14,249,691 $

14,249,691 $

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