Final Adopted Budget FY23-24

DEBT SERVICE FUND Bond Retirement General Obligations: 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.

Actual 2021-22

Budget 2022-23

Adopted 2023-24

Projected

2024-25

Expenditures by Program Bond Retirement General Obligations

46,924,908

36,255,465

41,201,763

47,807,760

Total

46,924,908

36,255,465

41,201,763

47,807,760

Actual 2021-22

Budget 2022-23

Adopted 2023-24

Projected

2024-25

Full-time Equivalents by Program Bond Retirement General Obligations

2.05

2.05

2.05

2.05

Total

2.05

2.05

2.05

2.05

Actual 2021-22

Budget 2022-23

Adopted 2023-24

Projected

2024-25

Expenditures by Type Personnel Costs

238,082

215,152

233,599

246,579

46,686,826 46,924,908

Maintenance & Operations

36,040,313 36,255,465

40,968,164 41,201,763

47,561,181 47,807,760

Total

Revenues by Type Other Revenues

5,574,908 41,350,000

(4,127,352) 27,696,130 7,946,091 31,514,869

1,097,763 40,104,000

5,582,760 42,225,000

Interfund Transfers

-

Appropriated Fund Balance

-

-

Total

46,924,908

41,201,763

47,807,760

Budget Highlights: The FY 23-24 Adopted Budget is increasing by 5,723,145, or 13.9%.  The Debt Service Fund expenses will increase by $6 million due to anticipated debt service costs related to the 2008, 2016, and the new $135 million in 2022 Bonds.

Adopted 2023-24 Budget

157