FINAL ADOPTED BUDGET FY2021-22

DEBT SERVICE AREA SUMMARY

Actual 2019-20

Budget 2020-21

Adopted 2021-22

Projected

2022-23

Expenditures

3,505,028 36,297,815 27,696,130 67,498,973 30,162,892 37,336,081 3,505,028 36,297,815 39,802,843 27,696,130 30,162,892 37,336,081

Capital Leasing Fund Debt Service Fund

2,629,317 33,110,076 26,644,740 62,384,133 28,866,494 33,517,639 4,476,015 33,728,721 38,204,736 26,644,740 28,866,494 35,982,982

3,868,762 37,197,195 24,790,423 65,856,380 27,095,461 38,760,919 3,868,762 37,197,195 41,065,957 24,790,423 27,095,461 38,760,919

1,885,609 37,411,701 32,558,600 71,855,910 34,243,461 37,612,449 1,885,609 37,411,701 39,297,310 32,558,600 34,243,461 37,612,449

Debt Service Contribution

Subtotal

Less Transfers and Internal Charges Total Debt Service Expenditures

Revenues

Capital Leasing Fund Debt Service Fund

Subtotal

General Fund Contribution

Less Transfers and Internal Charges

Total Debt Service Revenues

Total FTE Positions

2.05

2.05

2.05

2.05

Budget Highlights: The FY 21-22 Adopted Budget is decreasing by 1,424,838, or 3.7%. 

The budgeted contribution to the Debt Service Fund will increase from $24.8 million to $27.7 million. This increase is necessary due to the reduction from the prior year to address the revenues shortfalls due to COVID-19.  The outstanding debt principle will decrease by approximately $27 million by the close of FY 20-21 based on planned payments and no new debt issuances. In February 2022 the City expects to issue the remaining $36 million in remaining 2016 authorized bonds.

Adopted 2021-22 Budget

151