Page 232 - City of Colleyville FY22 Adopted Budget

DEBT SERVICE FUND SUMMARY

PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED
FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026
BEGINNING FUND BALANCE - 10/1 1,126,001 1,052,343 857,945 678,192 479,808 295,550
FUND REVENUES
Current Property Taxes 785,238 615,000 576,758 632,651 590,276 507,251
Delinquent Property Taxes 3,000 1,500 1,500 1,500 1,500 1,500
Penalty & Interest 2,500 5,000 5,000 5,000 5,000 5,000
Transfer-in TIF Fund** 0 0 0 0 0 0
Interest Income/Other 800 6,000 6,000 6,000 6,000 6,000
TOTAL REVENUES 791,538 627,500 589,258 645,151 602,776 519,751

FUND EXPENDITURES
2011 G.O. Refunding Bonds 0 0 0 0 0 0
2016 G.O. Refunding Bonds 410,000 425,000 435,000 445,000 455,000 465,000
2016 Engine Lease 48,485 48,485 48,485 48,485 48,485 48,485
Ambulance Lease 49,988 49,988 0 0 0 0
2019 Ambulance Lease 165,773 120,000 120,000 0 0 0
2020 Pumper Lease 120,700 120,700 120,700 120,700 120,700 0
Projected: Future Leases 0 0 0 195,500 138,000 138,000
Bond Interest 68,750 56,225 43,325 32,350 23,350 23,350
Paying Agent 1,500 1,500 1,500 1,500 1,500 1,500
TOTAL EXPENDITURES 865,196 821,898 769,010 843,535 787,035 676,335

ENDING FUND BALANCE - 9/30 1,052,343 857,945 678,192 479,808 295,550 138,966

** The 2016 G.O. Refunding Bonds included a refinance of debt from the Tax
Increment Financing (TIF) Fund, but this was paid off in the previous year.

Note: The City of Colleyville has been focused on reducing and eliminating debt, working toward a pay as you go method.
All recent debt issuances are refundings; new tax supported debt has not been issued since 2007.

230