Page 163 - FortWorthFY22AdoptedBudget

Debt Service Funds

Debt Service Fund Statement

FUND SUMMARY

FY2020 FY2021 FY2021 FY2022 Change from Adopted
Final Adopted Adjusted Adopted Amount %
Property Tax 110,745,231 114,944,127 114,944,127 121,072,221 6,128,094 5.33%
Charge for Service 95,136 - - - - 0.00%
Use of Money & Property 18,115,116 4,447,182 4,447,182 3,074,790 (1,372,392) -30.86%
Transfer In 268,717,309 138,417,728 370,093,390 132,440,031 (5,977,697) -4.32%
Total Revenues 397,672,792 257,809,037 489,484,699 256,587,042 (1,221,995) -0.47%

Use of Fund Balance - 1,573,175 34,362,743 1,771,999 198,824 12.64%

Capital Accts 17,850 - - -
Debt Service Accts 402,751,025 252,638,368 522,065,616 254,611,148 1,972,780 0.78%
Transfer Out 3,877,121 - - 2,975,650 2,975,650 0.00%
Total Expenses 406,645,996 252,638,368 522,065,616 257,586,798 4,948,430 1.96%

Contribution to Fund Balance - 6,743,844 1,781,826 772,243 (5,971,601) -88.55%

Revenues Over(Under) Expenses $ (8,973,204) $ - $ - $ - $ - 0%

FUND PURPOSE AND GOALS

Debt service funds account for the accumulation of financial resources for the payment of principal, interest, and
related costs on long-term obligations paid primarily from taxes levied by the city. The city will utilize seven debt
service funds to accumulate the resources to make principal and interest payments on existing bond issues. Debt
service funds include the General Debt Service Fund, Culture and Tourism Debt Service Fund, Venue Debt Service
Fund, Stormwater Debt Service Fund, Solid Waste Debt Service Fund, Municipal Parking Debt Service Fund, and a
Water Debt Service Fund. The total FY2022 debt service requirements as of August 4, 2021, for all funds’
outstanding debt are $254,506,269 (does not include capital leases, energy conservation loans, or handling
charges).

TOTAL GENERAL OBLIGATION DEBT

Of the total debt amount projected for the upcoming fiscal year (FY2022), $133,547,724 is for general obligation
bonds, certificates of obligation, loans, and tax notes.

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