Page 161 - Fort Worth City Budget 2019
P. 161

Debt Service Funds



               Debt Service Fund Statement

               FUND SUMMARY

                                               FY2017        FY2018       FY2018       FY2019      Change from Adopted
                                                Final       Adopted      Adjusted      Adopted      Amount        %
               Property Tax                     90,570,551   94,314,246   94,314,246    98,775,882    4,461,636  4.73%
               Intergovernmental                  420,650             -            -            -             -  0.00%
               Charge for Service                 108,684             -            -            -             -  0.00%
               Use of Money & Property           4,992,115    2,781,456    2,784,356     2,981,456      200,000  7.19%
               Transfer In                     167,505,326  122,441,203  140,235,490   119,943,568   (2,497,635)  -2.04%
               Total Revenues                  263,597,326  219,536,905  237,334,092   221,700,906    2,164,001  0.99%

               Use of Fund Balance                      -    10,495,230   10,982,231     7,956,795   (2,538,435) -24.19%


               Debt Service Accts              230,883,281  220,655,029  228,392,968   226,162,031    5,507,002  2.50%
               Transfer Out                      4,185,063            -            -            -             -  0.00%
               Total Expenses                  235,068,344  220,655,029  228,392,968   226,162,031    5,507,002  2.50%


               Contribution to Fund Balance    $                -  $   9,377,106  $ 19,923,355  $   3,495,670  $ (5,881,436) -62.72%


               Revenues Over(Under) Expenses  $ 28,528,982  $                -  $                -  $                -  $                -  0%

               FUND PURPOSE AND GOALS

               Debt service funds account for the accumulation of financial resources for the payment of principal, interest and
               related costs on long-term obligations paid primarily from taxes levied by the city.  The city will utilize nine debt
               service funds to accumulate the resources to make principal and interest payments on existing bond issues.  Debt
               service funds include the General Debt Service Fund, Culture and Tourism Debt Service Fund, Venue Debt Service
               Fund, Rock Creek PID Debt Service Fund, Stormwater Debt Service Fund, Solid Waste Debt Service Fund, Municipal
               Parking Debt Service Fund, and two Water debt service funds.  The total FY2019 debt service requirements as of
               August  3,  2018,  for  all  fund’s  outstanding  debt  are  $226,080,630  (does  not  include  capital  leases,  energy
               conservation loans, or handling charges).


               TOTAL GENERAL OBLIGATION DEBT
               Of the total debt amount projected for the upcoming fiscal year (FY2019), $114,538,322 is for general obligation
               bonds, certificates of obligation, loans, and tax notes.























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