Page 165 - FortWorthFY22AdoptedBudget

Debt Service Fund

General Debt Service

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 10,116,492 4,097,182 4,097,182 3,074,790 (1,022,392) -24.95%
Transfer In 30,753,141 2,771,134 106,857,659 4,042,431 1,271,297 45.88%
Use of Fund Balance - - 7,600,989 - - 0.00%
Revenue $151,710,000 $121,812,443 $233,499,957 $ 128,189,442 $ 6,376,999 5.24%

Debt Service Accts 157,738,460 121,812,443 233,499,957 125,213,792 3,401,349 2.79%
Transfer Out & Other - - - 2,975,650 2,975,650 0.00%
Expenses $157,738,460 $121,812,443 $233,499,957 $ 128,189,442 $ 6,376,999 5.24%

FUND PURPOSE AND GOALS

The General Debt Service Fund debt is used to provide funds for capital necessities including equipment
purchases, upgrades, repairs, construction of buildings, streets, and infrastructure to meet the needs of the city.
This includes the debt paid by property tax authority rather than debt paid by an enterprise fund revenue source.
For the current year, the General Debt Service Fund is supporting $2,975,650 in Municipal Parking Debt, due to
the impacts of COVID negatively affecting the parking revenue stream. Since the enterprise revenue is not
sufficient to support the debt, the debt has secondary coverage by property tax.

Tax-supported debt is shown in the following chart. Not included in the chart is $100k in handling charges or the
Municipal Parking debt mentioned above.

FY2022 Principal Interest Total Debt Service
$ 93,755,000 $ 31,358,791 $ 125,113,791
2012 Combination Tax 4,470,000 1,593,500 6,063,500
2012 General Purpose Ref 9,290,000 2,852,000 12,142,000
2013 General Purpose Ref 565,000 268,375 833,375
2013A Combination Tax 2,480,000 1,226,100 3,706,100
2013C Combination Tax 920,000 460,431 1,380,431
2014 General Purpose Ref 3,940,000 130,020 4,070,020
2015 General Purpose Ref 385,000 30,465 415,465
2015A General Purpose Ref 10,045,000 3,195,363 13,240,363
2016 General Purpose Ref 8,150,000 4,032,200 12,182,200
2016 Tax Notes 1,410,000 30,888 1,440,888
2017 Tax Notes 2,610,000 131,596 2,741,596
2018 General Purpose 2,250,000 1,489,145 3,739,145
2018 Tax Notes 1,790,000 342,250 2,132,250
2019 General Purpose 4,520,000 3,098,700 7,618,700
2019 Tax Notes 1,160,000 293,250 1,453,250
2020 General Purpose Ref & Imp 7,605,000 3,761,150 11,366,150
2020 Tax Notes 3,295,000 935,650 4,230,650
2021 Combination Tax 710,000 619,083 1,329,083
2021 Gen Purpose Ref (Taxable) 955,000 362,170 1,317,170
2021 General Purpose Ref & Imp 25,500,000 5,720,613 31,220,613
2021C Tax Notes 1,705,000 785,842 2,490,842

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