Page 202 - Colleyville FY21 Budget

DEBT SERVICE FUND SUMMARY

PROJECTED BUDGET PROJECTED PROJECTED PROJECTED PROJECTED
FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
BEGINNING FUND BALANCE - 10/1 844,866 882,287 854,110 866,610 879,110 891,610
FUND REVENUES
Current Property Taxes 849,975 770,000 813,152 760,264 834,789 778,289
Delinquent Property Taxes 2,198 1,500 1,500 1,500 1,500 1,500
Penalty & Interest 4,753 5,000 5,000 5,000 5,000 5,000
Transfer-in TIF Fund** 654,675 0 0 0 0 0
Interest Income/Other 5,932 6,000 6,000 6,000 6,000 6,000
TOTAL REVENUES 1,517,533 782,500 825,652 772,764 847,289 790,789
FUND EXPENDITURES
2011 G.O. Refunding Bonds 170,000 0 0 0 0 0
2016 G.O. Refunding Bonds 923,300 478,750 481,225 478,325 477,350 478,350
2016 Engine Lease 48,485 39,738 39,738 39,738 39,738 39,738
Ambulance Lease 170,000 120,000 120,000 120,000 0 0
2020 Ambulance Lease Payment 49,988 49,988 49,988 0 0 0
2020 Pumper Lease Payment 0 120,700 120,700 120,700 120,700 120,700
2010 Fire Truck Lease 116,839 0 0 0 0 0
Future Leases 0 0 0 0 195,500 138,000
Paying Agent 1,500 1,500 1,500 1,500 1,500 1,500
TOTAL EXPENDITURES 1,480,112 810,677 813,152 760,264 834,789 778,289
LESS USE OF AVAILABLE CASH 0 0 0 0 0 0
ENDING FUND BALANCE - 9/30 882,287 854,110 866,610 879,110 891,610 904,110

** The 2016 G.O. Refunding Bonds include a refinance of debt from the Tax Increment Financing
(TIF) Fund. The transfers in from TIF Funds are shown as a revenues in the Debt Service Fund,
which pay those funds' respective portion of the debt. The TIF portion of these bonds was paid off
in FY 2020.

Note: The City of Colleyville has been focused on reducing and eliminating debt, working toward a pay as you go method.
All recent debt issuances are refundings; new tax supported debt has not been issued since 2007. While the City has a
state-mandated tax limit of $1.50 total, Colleyville has made it a priority to pass as low a tax rate as possible while
maintaining existing service levels. Shifting from debt-funded capital improvements to cash-funded improvements is a
part of the City's strategy in pursuing that priority.

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