Page 220 - Benbrook FY2021

DEBT SERVICE FUND
SUMMARY OF REVENUES AND EXPENDITURES
FUND BALANCE SUMMARY
FY 2020-21

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 2020-21
BUDGET
BEGINNING BALANCE $ 344,404

REVENUES
Ad Valorem Taxes 484,698
Use of Money & Property -

TOTAL REVENUES 484,698
TOTAL FUNDS AVAILABLE $ 829,102
EXPENDITURES
Bond Principal Retirements 1,520,000
Certificate of Obligation Retirements -
Long-Term Note Retirements -
Interest Expenses 86,441
Agent Fees and Other Expenditures 3,800
TOTAL EXPENDITURES 1,610,241

AVAILABLE OVER (UNDER) EXPENDITURES $ (781,139)
OTHER FINANCING SOURCES (USES)
Transfers-In 1,234,569
Transfers-Out -

TOTAL OTHER FINANCING SOURCES (USES) 1,234,569
ENDING BALANCE $ 453,430

220 | P a g e