Page 261 - Watauga FY21 Budget

General Obligation Debt Service Fund 03

Budget Summary

HISTORY CURRENT YEAR BUDGET
2017-18 2018-19 FY2019-20 FY2019-20 FY2021
Actual Actual Budget Estimate Budget
Fund Balance, October 1* $537,076 $710,902 $659,602 $659,602 $774,272
Revenues:
Ad Valorem Taxes 2,241,279 2,402,070 2,628,000 2,610,000 2,720,000
Delinquent Taxes 5,296 10,684 12,000 14,300 12,000
Penalty & Interest 10,746 11,823 10,000 10,994 10,000
Interest Income 12,616 20,242 15,500 10,829 5,000
Transfer from EDC 0 0 100,178 100,178 157,503
Other Financing Sources 0 0 0 0 0
Proceed From Bond Sales 0 0 0 0 0
Current Year Resources $2,269,937 $2,444,819 $2,765,678 $2,746,301 $2,904,503
Total Available Resources $ 2,807,013 $ 3,155,721 $ 3,425,280 $ 3,405,903 $ 3,678,775
1998/2011 Certificates of Obligation
Principal 160,000 0 0 0
Interest 1,560 0 0 0
2016 Certificates of Obligation
Principal 275,000 230,000 235,000 235,000 245,000
Interest 138,819 132,619 124,469 124,469 114,869

2018 Certificates of Obligation
Principal 0 365,000 390,000 390,000 480,000
Interest 0 230,641 242,440 242,440 224,590
2014 Certificates of Obligation
Principal 85,000 180,000 180,000 180,000 515,000
Interest 86,513 83,863 80,263 80,263 72,669

2003/2013 Certificate of Obligation
Principal 260,000 180,000 190,000 190,000 200,000
Interest 24,413 19,463 15,300 15,300 10,913

1999 / 2006 General Obligation Refunding
Principle 310,000 320,000 330,000 330,000 0
Interest 29,898 18,144 12,310 6,155 0
2007 Certificates of Obligation
Principle 175,000 185,000 190,000 190,000 200,000
Interest 84,358 76,960 69,254 69,254 61,239
2011 Certificates of Obligation
Principal 400,000 420,000 435,000 435,000 455,000
Interest 64,550 53,250 40,425 40,425 27,075

2019 Certificates of Obligation
Principal 0 0 85,000 85,000 50,000
Interest 0 0 17,325 17,325 13,950

2020 TN Certificates of Obligation
Principal 0 0 0 0 75,000
Interest 0 0 0 0 22,138
2020 Certificates of Obligation
Principal 0 0 0 0 115,000
Interest 0 0 0 0 73,563

Fiscal Agent Charges 1,000 1,180 5,017 1,000 1,200

Total Debt Service Requirement $2,096,111 $2,496,119 $2,641,803 $2,631,631 $2,957,206
Fund Balance, September 30 $710,902 $659,602 $783,477 $774,272 $721,570

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