Page 73 - Keller FY20 Approved Budget

Debt Service Fund

FY 2020-21 FY 2021-22 FY 2022-23 FY 2023-24 FY 2024-25

Revenues
Property Tax 3,840,159 4,354,299 4,621,277 5,762,050 4,456,614
Other Revenue 10,900 11,118 11,340 11,567 11,798
Total Revenue $3,851,058 $4,365,417 $4,632,617 $5,773,617 $4,468,412

Expenditures
Services & other 1,545 1,591 1,639 1,688 1,739
Debt Service 3,811,357 3,856,073 3,480,468 3,390,989 2,095,344
Future Anticipated - 465,569 1,106,150 2,327,845 2,327,845
needs
Total Expenditures $3,812,902 $4,323,233 $4,588,257 $5,720,523 $4,424,928

Variance $38,156 $42,184 $44,361 $53,094 $43,484

Five-Year Outlook Notes:

 Based upon the current debt obligations and proposed debt issuances of $8,000,000, the FY 2019-20 debt
payment is $4,577,596, which will continue to drop annually to $2,095,344 in FY 2024-25 — a decrease of
$2,482,252.
 The total property tax rate is assumed to remain at the same $0.3999/100 adopted in FY 2019-20 and to
grow at 2 percent as a result of anticipated growth in property appraisals. The rate is reviewed and adopted
annually by the Keller City Council in accordance with state law.
 FY 2021-22 through FY 2023-24 assume the issuance of debt for transportation projects and reflect
potential debt issuance capacity. While the projects are included in the five-year CIP, no projects have
been approved by City Council at this time and may change as Council annually reviews the five-year CIP.
The assumptions include the issuance of $5,000,000 in FY 2021-22, and $10,000,000 each in FY 2022-23
and FY 2023-24.
 Estimated debt payments are presented as the same annual payment per year, however, the City would
consider debt payment terms at the time of issuances in order to best layer the proposed debt with current
debt structure. This would reduce the impact to the General Fund of the FY 2023-24 debt issuance.

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