Page 214 - City of Arlington FY19 Adopted Operating Budget

Debt Service Fund

The Debt Service Fund is used to account for the accumulation of resources for the payment of principal and interest on the
City’s general long-term debt not being financed by proprietary funds. The fund’s primary source of revenue is ad valorem taxes.
The debt service tax rate is 19.20¢ per $100 valuation. Total revenues in FY 2019 are budgeted at $49,759,272.

DEBT SERVICE FUND
FY 2019 Operating Position

Actual Adopted Estimated Adopted
FY 2017 FY 2018 FY 2018 FY 2019

BEGINNING BALANCE $ 2,260,181 $ 1,668,448 $ 2,118,210 $ 2,715,838

REVENUES:
Ad Valorem Taxes $ 39,842,683 $ 46,148,196 $ 46,095,550 $ 48,976,217
Premium on Bond Issuance ‐ 600,000 600,000 350,000

Interest and Miscellaneous Revenue 295,126 229,979 422,493 433,055
TOTAL REVENUES $ 40,137,809 $ 46,978,175 $ 47,118,043 $ 49,759,272

INTERFUND TRANSFERS:
Park Performance Fund, Ditto Golf $ 1,375,566 $ ‐ $ ‐ $ ‐
Parks Gas Funds, Debt Repayment 701,560 ‐ ‐ ‐
Convention and Event Services Fund 1,219,851 ‐ ‐ ‐
TIRZ 5 1,551,148 1,986,125 1,963,888 2,384,803
TIRZ 4 1,756,877 ‐ ‐ ‐
Airport 175,000 ‐ ‐ ‐
Water and Sewer Fund ‐ MOT 60,889 ‐ ‐ ‐
TOTAL INTERFUND TRANSFERS $ 6,840,891 $ 1,986,125 $ 1,963,888 $ 2,384,803

TOTAL AVAILABLE FUNDS $ 49,238,881 $ 50,632,749 $ 51,200,141 $ 54,859,913

EXPENDITURES:
Principal / Interest Payments $ 46,808,265 $ 47,829,303 $ 47,829,303 $ 51,586,785
Issuance Fees 264,277 600,000 600,000 350,000
Agent Fees 48,128 55,000 55,000 55,000
TOTAL EXPENDITURES $ 47,120,671 $ 48,484,303 $ 48,484,303 $ 51,991,785

ENDING BALANCE $ 2,118,210 $ 2,148,446 $ 2,715,838 $ 2,868,128

Note: Expenditures include the Radio System lease which is paid for by the transfer in from TIRZ 5.

2019 Adopted Budget and Business Plan 199 City of Arlington, Texas