2025 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, 2025

Variance Positive (Negative)

Final

Budget

Actual

Revenues:

Interest Earnings: Investment Income

$

4,832,082

$

5,813,066 761,832 6,574,898

$

980,984 761,832 1,742,816

Net Increase in the Fair Value of Investments

Total Investment Income

4,832,082

Miscellaneous: Sales and Use Tax Refund

450,000

111,191

(338,809)

Sales of Real Estate Total Miscellaneous

7,631

7,631

450,000

118,822

(331,178)

Appropriated Fund Balance

10,100

(10,100)

Total Revenues

5,292,182

6,693,720

1,401,538

Expenditures: Operating Expenditures: Personal Services

188,328 68,042 126,432

143,340 47,448 93,416 44,269 328,473

44,988 20,594 33,016

Fringe Benefits

Maintenance and Operations

Capital Outlay

(44,269) 54,329

Total Operating Expenditures

382,802

Debt Service: Principal Maturities

33,418,907 14,567,555

24,085,800 13,761,946

9,333,107 805,609 (193,300) 9,945,416

Interest

Fees and Other

56,969

250,269

Total Debt Service Expenditures

48,043,431

38,098,015

Total Expenditures

48,426,233

38,426,488

9,999,745

Excess of Revenues Under Expenditures

(43,134,051)

(31,732,768)

11,401,283

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

5,630,000 546,467 (6,139,598) 43,097,182 43,134,051

5,630,000 546,467 (6,139,597) 43,097,349 43,178,488 44,269

Premium on Debt

Payment to Escrow Agent for Refunding of Debt

1

IT Subscription Liability Issued

44,269

Transfers In

167

Total Other Financing Sources (Uses)

44,437

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

$

11,445,720

11,445,720

Fund Balance - July 1

28,997,807

28,997,807

Fund Balance - June 30

$ 40,443,527

$ 40,443,527

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