Page 64 - Keller Budget FY21

Debt Service Fund

FY 2020-21 Revenues $3,760,294
Compared to $ Growth % Growth
FY 2019-20 Budget $(620,058) (14.2)%
FY 2019-20 Projection $(730,009) (16.3)%

FY 2020-21 Expenditures $3,670,321
Compared to $ Growth % Growth
FY 2019-20 Budget $(886,057) (19.5)%
FY 2019-20 Projection $(886,057) (19.5)%

Revenues – Expenditures $89,973

The Debt Service Fund is funded through the collection of the interest and sinking portion of the tax rate,
which is proposed to be $0.070810/$100. The levy is used to fund debt that has been issued by the city
for general purposes and anticipated to be funded through tax dollars. At the end of FY 2019-20 the city
anticipates issuing up to $8 million in GOs for the Senior Activities Center as approved by Keller voters
in November 2018 and annual payments will begin in FY 2020-21. The estimated annual debt service
requirement for the issuances is $627,027.

Street and Sidewalk Improvements Fund

FY 2020-21 Revenues $1,640,558
Compared to $ Growth % Growth

FY 2019-20 Budget $(27,409) (1.6)%
FY 2019-20 Projection $1,790 0.1%

FY 2020-21 Expenditures $1,526,609
Compared to $ Growth % Growth
FY 2019-20 Budget $(275,000) (15.3)%
FY 2019-20 Projection $(275,000) (15.3)%

Revenues – Expenditures $113,949

The Street and Sidewalk Improvements Fund is used for reoccurring street and sidewalk maintenance
throughout the city. The fund is supported by a local sales tax option most recently reauthorized by the
voters in November 2015. Beginning in FY 2015-16, street maintenance funds were transferred to capital
projects to reflect project-life budgeting. For FY 2020-21, the fund will transfer $1,401,609 for the 2021
street reconstruction project and $125,000 for design costs associated with the 2022 street reconstruction
project. For FY 2019-20, the fund transferred $1,526,609 for annual street maintenance projects, a
pavement seepage project for $150,000, and $125,000 for a pavement condition study.

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