Page 226 - Benbrook FY20 Approved Budget

CITY OF BENBROOK 2019-20 ANNUAL BUDGET

DEBT SERVICE FUND
SUMMARY OF REVENUES AND EXPENDITURES
FUND BALANCE SUMMARY
FY 2019-20

FUND DESCRIPTION
The City of Benbrook Debt Service Fund was created by Ordinance 404, which was adopted August 25, 1975. The ordinance authorizes a tax to
be levied on all real and personal property with the proceeds from said tax used to retire the principal and interest on all general purpose
indebtedness. The Debt Service Fund accounts for the accumulation of resources, and the payment of general long-term principal and interest.

FY 2019-20
BUDGET

BEGINNING BALANCE $ 329,447
REVENUES
Ad Valorem Taxes 487,107
Use of Money & Property -
TOTAL REVENUES 487,107
TOTAL FUNDS AVAILABLE $ 816,554

EXPENDITURES
Bond Principal Retirements 1,430,000
Certificate of Obligation Retirements -
Long-Term Note Retirements -
Interest Expenses 127,624
Agent Fees and Other Expenditures 3,800
TOTAL EXPENDITURES 1,561,424
AVAILABLE OVER (UNDER) EXPENDITURES $ (744,870)

OTHER FINANCING SOURCES (USES)
Transfers-In 1,089,888
Transfers-Out -

TOTAL OTHER FINANCING SOURCES (USES) 1,089,888
ENDING BALANCE $ 345,018
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