COG Comprehensive Annual Financial Report

Schedule 32

Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2018

Variance Positive (Negative)

Final Budget

Actual

Revenues:

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

$

396,528 (590,629) (194,101)

$

1,412,750

$

1,809,278 (590,629) 1,218,649

1,412,750

Miscellaneous: Sales and Use Tax Refund

150,000

156,694

6,694

Appropriated Fund Balance

4,750

(4,750)

Total Revenues

1,567,500

1,375,343

(192,157)

Expenditures: Operating Expenditures: Personal Services Fringe Benefits

19,247 12,601 43,861 75,709

91,615 27,170 71,464 190,249

110,862 39,771 115,325 265,958

Maintenance and Operations Total Operating Expenditures

Debt Service: Principal Retirement Interest Fees and Other

3,885,454 2,508,603 373,870 6,767,927

13,902,666 6,330,819 220,130 20,453,615

17,788,120 8,839,422 594,000 27,221,542

Total Debt Service Expenditures

Total Expenditures

27,487,500

20,643,864

6,843,636

Excess of Revenues Under Expenditures

(25,920,000)

(19,268,521)

6,651,479

Other Financing Sources: Debt Issuances: Premium on Debt Transfers In

41,668

41,668 25,920,000 25,961,668

25,920,000 25,920,000

41,668

Total Other Financing Sources

Excess of Revenues and Other Financing Sources Over Expenditures

$

6,693,147

6,693,147

Fund Balance - July 1

16,487,675

16,487,675

Fund Balance - June 30

$ 23,180,822

$ 23,180,822

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