Page 303 - Keller Budget FY21

DEBT SERVICE FUND

FUND DESCRIPTION:
The Debt Service Fund is used to account for the accumulation of resources for and the payment of, general long-term debt
principal and interest. Except for interfund transfers, this fund does not account for obligations backed by self-supporting
activities, such as the Water and Wastewater Fund.

REVENUE SUMMARY

FY 2020-21
FY 2018-19 FY 2019-20 FY 2019-20 Adopted Budget
REVENUES Actual Budget YE Proj. Budget Variance ($)
Current Taxes $ 4,085,507 $ 4,327,596 $ 4,327,596 $ 3,661,877 $ (665,719)
Delinquent Taxes 7,196 23,718 7,063 17,410 (6,308)
Penalty & Interest-Taxes (14,325) 18,352 64,261 23,085 4,733
Premium On Debt Issuance – – – – –
Debt Issuance-Refunding Bonds – – – – –
Interest Revenue-Investments 72,287 10,686 91,383 57,922 47,236
Miscellaneous Revenue 13,904 – – – –

TOTAL $ 4,164,569 $ 4,380,352 $ 4,490,303 $ 3,760,294 $ (620,058)

EXPENDITURE SUMMARY

FY 2020-21
FY 2018-19 FY 2019-20 FY 2019-20 Adopted Budget
EXPENDITURES BY CATEGORY: Actual Budget YE Proj. Budget Variance ($)
Personnel services $ – $ – $ – $ – $ –
Services & other – 1,500 1,500 1,500 –
Debt service 4,078,360 4,554,878 4,554,878 3,668,821 (886,057)
Capital outlay – – – – –

TOTAL $ 4,078,360 $ 4,556,378 $ 4,556,378 $ 3,670,321 $ (886,057)

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