CAFR 2016

Schedule 29

Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2016

Variance Positive (Negative)

Final

Budget

Actual

Revenues:

Interest Earnings: Investment Income

$

1,026,838

$

1,124,463

$

97,625 235,743 333,368

Net Increase (Decrease) in the Fair Value of Investments

235,743

Total Investment Income

1,026,838

1,360,206

Miscellaneous: Sales and Use Tax Refund

100,000 100,000

187,199 187,199

87,199 87,199

Total Miscellaneous

Appropriated Fund Balance

4,000

(4,000)

Total Revenues

1,130,838

1,547,405

416,567

Expenditures: Operating Expenditures: Personal Services

103,888 35,700 113,812 253,400

114,016 32,570 66,688 213,274

(10,128)

Fringe Benefits

3,130

Maintenance and Operations Total Operating Expenditures

47,124 40,126

Debt Service: Principal Retirement

12,906,844 5,879,164

11,390,844 4,934,163

1,516,000

Interest

945,001 113,160

Fees and Other

364,000

250,840

Total Debt Service Expenditures

19,150,008

16,575,847

2,574,161

Total Expenditures

19,403,408

16,789,121

2,614,287

Excess of Revenues Under Expenditures

(18,272,570)

(15,241,716)

3,030,854

Other Financing Sources: Transfers In

18,272,570 18,272,570

18,272,570 18,272,570

Total Other Financing Sources

Excess of Revenues and Other Financing Sources Over Expenditures

$

3,030,854

3,030,854

Fund Balance - July 1

7,878,571

7,878,571

Fund Balance - June 30

10,909,425 $

10,909,425 $

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