Page 258 - Microsoft Word - FY 2022 Adopted Budget Document

Debt Service Fund Return to Table of Contents
Table
of
Return
to
Contents
The Debt Service Fund is used to accumulate resources for the payment of principal and interest on the City’s general long-term
debt not financed by proprietary funds. The fund’s primary source of revenue is ad valorem taxes. The debt service tax rate in
FY 2022 is 21.00¢ per $100 valuation. Total revenues in FY 2022 are budgeted at $64,394,150.

DEBT SERVICE FUND
FY 2022 Operating Position

Actual Budgeted Estimated Adopted
FY 2020 FY 2021 FY 2021 FY 2022

BEGINNING BALANCE $ 3,566,517 $ 3,113,354 $ 2,935,008 $ 3,824,256

REVENUES:
Ad Valorem Taxes $ 48,990,786 $ 60,977,493 $ 61,038,470 $ 63,417,625
Premium / Proceeds 958,672 350,000 401,177 800,000
Interest and Miscellaneous Revenue 585,925 253,337 235,090 176,525
TOTAL REVENUES $ 50,535,383 $ 61,580,830 $ 61,674,737 $ 64,394,150

INTERFUND TRANSFERS:
From Grant Funds ‐ TMRS Reimbursement $ ‐ $ 168,815 $ 168,815 $ 168,815
From Operating Funds ‐ TMRS Reimbursement ‐ 1,367,509 1,367,509 1,367,509
TOTAL INTERFUND TRANSFERS $ ‐ $ 1,536,324 $ 1,536,324 $ 1,536,324

TOTAL AVAILABLE FUNDS $ 54,101,900 $ 66,230,508 $ 66,146,069 $ 69,754,730

EXPENDITURES:
Principal / Interest Payments $ 49,925,532 $ 62,154,672 $ 62,144,551 $ 65,131,528
Issuance Fees 1,450,558 613,000 519,664 1,475,000
Premium/Proceeds Offset (958,672) ‐ (401,177) ‐
Agent Fees 58,775 48,000 58,775 61,250
TOTAL EXPENDITURES $ 50,476,193 $ 62,815,672 $ 62,321,813 $ 66,667,778

ENDING BALANCE $ 3,625,707 $ 3,414,836 $ 3,824,256 $ 3,086,952

FY 2022 Adopted Budget and Business Plan 247 City of Arlington, Texas