2024 Annual Comprehensive Report

Schedule 29

Debt Service Fund Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual For the Fiscal Year Ended June 30, 2024

Variance Positive (Negative)

Final

Budget

Actual

Revenues:

Interest Earnings: Investment Income

$

5,024,908

$

6,961,980 4,102,944 11,064,924

$ 1,937,072

Net Increase in the Fair Value of Investments

4,102,944 6,040,016

Total Investment Income

5,024,908

Miscellaneous: Sales and Use Tax Refund

550,000

158,448 85,050 25,312

(391,552)

Sales of Real Estate Sales of Materials

85,050 25,312 3,376

Other Revenue

3,376

Total Miscellaneous

550,000

272,186

(277,814)

Appropriated Fund Balance

12,700

(12,700)

Total Revenues

5,587,608

11,337,110

5,749,502

Expenditures: Operating Expenditures: Personal Services

173,616 64,466 126,834 364,916

119,366 40,627 94,685 254,678

54,250 23,839 32,149 110,238

Fringe Benefits

Maintenance and Operations Total Operating Expenditures

Debt Service: Principal Maturities

31,899,857 14,650,135

23,827,269 13,350,751

8,072,588 1,299,384

Interest

(45,253)

Fees and Other

22,700

67,953

Total Debt Service Expenditures

46,572,692

37,245,973

9,326,719

Total Expenditures

46,937,608

37,500,651

9,436,957

Excess of Revenues Under Expenditures

(26,163,541)

15,186,459

(41,350,000)

Other Financing Sources: Transfers In

41,350,000

41,350,000

Excess of Revenues and Other Financing Sources Over Expenditures

$

15,186,459

15,186,459

Fund Balance - July 1

13,811,348

13,811,348

Fund Balance - June 30

$ 28,997,807

$ 28,997,807

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