Page 306 - Watauga FY21 Budget

Water and Wastewater Debt Service Fund/Debt Reserve Funds
Multi-Year Financial Plan

Year 1 Year 2 Year 3 Year 4 Year 5
Budget Projected Projected Projected Projected
2020-21 2021-22 2022-23 2023-24 2023-24
BEGINNING BALANCE 12,264 15,789 15,789 15,789 15,789

REVENUES
Transfer from W&WW Operations 1,599,000 1,861,350 1,862,951 2,142,813 2,140,357
Interest 0 1,000 1,000 1,000 1,000
Total Revenues 1,599,000 1,862,350 1,863,951 2,143,813 2,141,357

EXPENSES
Principal (975,000) (1,275,000) (1,315,000) (1,535,000) (1,575,000)
Interest (619,475) (586,350) (547,951) (607,813) (565,357)
Bank Charges (1,000) (1,000) (1,000) (1,000) (1,000)
Total Expenses (1,595,475) (1,862,350) (1,863,951) (2,143,813) (2,141,357)
Recommended Reserves per Policy * 0 0 0 0 0
ENDING FUND BALANCE 15,789 15,789 15,789 15,789 15,789

Debt Issuance Variable:
Beginning debt outstanding 21,285,000 20,310,000 19,035,000 21,720,000 20,185,000

Principal retired (975,000) (1,275,000) (1,315,000) (1,535,000) (1,575,000)
Principal Issued (Proposed) - 4,000,000 - -

Ending debt outstanding 20,310,000 19,035,000 21,720,000 20,185,000 18,610,000

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