Page 77 - Microsoft Word - FY 2021 tax info sheet

FY 2021‐22 Five‐Year Operating Fund Outlook

Debt Service Fund

FY 2022‐23 FY 2023‐24 FY 2024‐25 FY 2025‐26 FY 2026‐27

Revenues
Property Tax 3,672,520 3,904,939 3,969,864 3,974,214 3,976,814
Other Revenue 23,449 24,152 24,877 25,623 26,392
Total Revenue $3,695,969 $3,929,091 $3,994,741 $3,999,837 $4,003,206

Expenditures
Services & other ‐ ‐ ‐ ‐ ‐
Debt Service 3,268,688 3,175,775 1,890,700 1,895,050 1,897,650
Future Anticipated 403,832 729,164 2,079,164 2,079,164 2,079,164
needs
Total Expenditures $3,672,520 $3,904,939 $3,969,864 $3,974,214 $3,976,814

Variance $23,449 $24,152 $24,877 $25,623 $26,392

Five‐Year Outlook Notes:

 Based upon the current debt obligations, the FY 2020‐21 debt payment is $3,637,884, which will continue
to drop annually to $601,800 in FY 2034‐35 — a decrease of $3,036,044.
 The total property tax rate is assumed to remain at the same $0.3950/100 adopted in FY 2021‐22 and to
grow at 1‐2 percent as a result of anticipated growth in property appraisals. The rate is reviewed and
adopted annually by the Keller City Council in accordance with state law.
 FY 2022‐23 through FY 2025‐26 assume the issuance of debt for transportation projects and reflect
potential debt issuance capacity. While the projects are included in the five‐year CIP, no projects have
been approved by City Council at this time and may change as Council annually reviews the five‐year CIP.
The assumptions include the issuance of $5,000,000 in FY 2022‐23, and $20,000,000 in FY 2023‐24.
 The City anticipates using fund balance in FY 2023‐24 of $1,350,000 to help offset the increase to debt
service from the issuance of $20,000,000. Instead of use fund balance, the City may also consider debt
payment terms at the time of issuances in order to best layer the proposed debt with current debt
structure or delaying the issuance to better fit within current annual debt payments.

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