2023 Annual Comprehensive Report

Schedule 29

Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2023

Variance Positive (Negative)

Final

Budget

Actual

Revenues:

Interest Earnings: Investment Income

$

947,763

$

5,496,142 268,940 5,765,082

$ 4,548,379

Net Increase in the Fair Value of Investments

268,940 4,817,319

Total Investment Income

947,763

Miscellaneous: Sales and Use Tax Refund

150,000

441,024

291,024

Other Revenue

2,333

2,333

Total Miscellaneous

150,000

443,357

293,357

Appropriated Fund Balance

63,350

(63,350)

Total Revenues

1,161,113

6,208,439

5,047,326

Expenditures: Operating Expenditures: Personal Services

170,952 62,647 129,200

129,275 40,151 137,196 28,422 335,044

41,677 22,496 (7,996) (28,422)

Fringe Benefits

Maintenance and Operations

Capital Outlay

Total Operating Expenditures

362,799

27,755

Debt Service: Principal Maturities

29,593,803 11,235,161

21,937,404 11,755,590

7,656,399 (520,429)

Interest

Fees and Other

73,350

8,400

64,950

Total Debt Service Expenditures

40,902,314

33,701,394

7,200,920

Total Expenditures

41,265,113

34,036,438

7,228,675

Excess of Revenues Under Expenditures

(40,104,000)

(27,827,999)

12,276,001

Other Financing Sources: Debt Issuances:

IT Subscription Liability Issued

28,422

28,422

Transfers In

40,104,000 40,104,000

40,104,000 40,132,422

Total Other Financing Sources

28,422

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

$

12,304,423

12,304,423

Fund Balance - July 1

1,506,925

1,506,925

Fund Balance - June 30

$ 13,811,348

$ 13,811,348

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