FINAL ADOPTED BUDGET FY2021-22

DEBT SERVICE CONTRIBUTION

Voter-Approved Bonds: General Fund annual contribution to support principal and interest payments related to Voter-Approved Bonds.

Actual 2019-20

Budget 2020-21

Adopted 2021-22

Projected

2022-23

Expenditures by Program Voter-Approved Bonds

27,696,130 27,696,130

26,644,740 26,644,740

24,790,423 24,790,423

32,558,600 32,558,600

Total

Actual 2019-20

Budget 2020-21

Adopted 2021-22

Projected 2022-23

Expenditures by Type Maintenance & Operations

27,696,130 27,696,130

26,644,740 26,644,740

24,790,423 24,790,423

32,558,600 32,558,600

Total

27,696,130 27,696,130

General Fund Contribution

26,644,740 26,644,740

24,790,423 24,790,423

32,558,600 32,558,600

Total

Budget Highlights: The FY 21-22 Adopted Budget is increasing by 2,905,707, or 11.7%. 

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

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