FY 2017-18 FINAL ADOPTED BUDGET

DEBT SERVICE FUND

PROGRAMS

2015-16

2016-17

2017-18 Adopted

2018-19

Actual

Budget

Projected

The Debt Service Fund is an accounting entity established to record the retirement of the City’s general obligation bonded indebtedness. Expenditures in this fund include principal and interest payments on the City’s debt as well as administrative costs associated with selling bonds.

Appropriation

16,788,842

23,402,874

27,482,750

31,878,899

Full Time Equivalent Positions

1.55

1.55

1.55

1.55

BUDGET SUMMARY

2015-16

2016-17 Budget

2017-18 Adopted

2018-19 Projected

Actual

Expenditures: General Obligation Bond Retirement

16,788,842

23,402,874

27,482,750

31,878,899

Hotel/Motel Debt Retirement

0 0

0 0

0 0

0 0

Installment Financing Agreements

Total

16,788,842

23,402,874

27,482,750

31,878,899

Total FTE Positions

1.550

1.550

1.550

1.550

Revenues: Transfer

18,272,570 1,547,405

21,238,110 1,432,750

25,920,000 1,562,750

26,361,000 1,765,405 3,752,494

All Other

Fund Balance

4,000

732,014

0

Total

19,823,975

23,402,874

27,482,750

31,878,899

BUDGET HIGHLIGHTS  The FY 17-18 Budget is increasing by $4.1 million, or 17.4%.

Annual General Obligation Debt as a Percentage of General Fund Budget

12.00%

10.89%

9.60%

10.00%

8.49%

8.00%

6.44%

6.00%

4.00%

2.00%

0.00%

FY 15-16 Actual

FY 16-17 Budget

FY 17-18 Budget

FY 18-19 Budget

Adopted FY 2017-18 Budget

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