Page 158 - Hurst Budget FY21

CITY OF HURST

GENERAL FUND FISCAL SERVICES 0323 FINANCE

Debt service payments made,
arbitrage calculations performed,
and all regulatory reports filed.   
Effectiveness:
GFOA distinguished budget
presentation award   
GFOA certificate of achievement
award   

MYFP presented to council   
General fund sales tax over/(under)
budget $1,003,493 $715,000 $1,000,000
Credit ratings (Moody’s / S&P)
(benchmark: A or higher) Aa2 / AA Aa2 / AA Aa2 / AA
General debt service as
percentage of general fund
expenditures 9.0% 10.6% 11.1%
Tax supported debt as a
percentage of taxable assessed
valuation 1.8% 1.6% 1.4%
General fund exp. as percentage of
taxable assessed valuation 1.1% 1.1% 1.0%
Actual general fund revenue
over/(under) estimated budget 3.6% -4.8% 1.9%
Undesignated general fund
balance (number of days) 90 90 90
Debt service rate to total tax rate 18.70% 19.93% 18.90%
AP checks paid within 30 days
(Benchmark: 100%) 91% 95% 95%
Rebate provided by purchasing
card activity $53,171 $47,903 $45,000
Average annual return on
investment / 3-mo. t-bill rate 2.30%/ 1.93% 1.62%/ 0.14% 0.53%/ 0.20%
Investment weighted average days
to maturity (Benchmark: <= 365) 164 Days 225 Days 225 Days
General debt service fund (property
tax serviced) debt per capita $1,307 $1,202 $1,099
Debt refunding – average annual
savings $276,453 $206,125 $206,125
Efficiencies:
Monthly closings completed within
seven business days of month end 83% 83% 83%

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