Page 312 - City of Watauga FY22 Adopted Budget

General Obligation Debt Service Fund 03

Budget Summary

HISTORY CURRENT YEAR BUDGET FORECAST
2018‐19 FY2019‐20 FY2020‐21 FY2020‐21 FY2022 FY2023
Actual Actual Budget Estimate Budget Budget *
Fund Balance, October 1* $710,902 $659,603 $774,272 $765,068 $732,136 $703,556
Revenues:
Ad Valorem Taxes 2,402,070 2,582,860 2,720,000 2,720,000 2,946,000 2,471,000
Delinquent Taxes 10,684 15,338 12,000 14,000 11,000 11,000
Penalty & Interest 11,823 13,720 10,000 13,000 10,000 10,000
Interest Income 20,242 11,652 5,000 2,000 1,000 1,000
Transfer from EDC 0 100,178 157,503 157,503 147,078 153,178
Current Year Resources $2,444,819 $2,723,748 $2,904,503 $2,906,503 $3,115,078 $2,646,178
Total Available Resources $ 3,155,721 $ 3,383,350 $ 3,678,775 $ 3,671,571 $ 3,847,214 $ 3,349,734
2016 Certificates of Obligation
Principal 230,000 235,000 245,000 245,000 255,000 265,000
Interest 132,619 124,469 114,869 114,869 106,144 98,344
2018 Certificates of Obligation
Principal 365,000 390,000 480,000 480,000 310,000 330,000
Interest 230,641 229,661 224,590 224,590 204,840 188,840
2014 Certificates of Obligation
Principal 180,000 180,000 515,000 515,000 900,000 100,000
Interest 83,863 80,263 72,669 72,669 55,625 42,875
2003/2013 Certificate of Obligation
Principal 180,000 190,000 200,000 200,000 195,000 190,000
Interest 19,463 15,300 10,913 10,913 6,469 2,138
2005/2013 Certificates of Obligation
Principal 320,000 330,000 0 0 0 0
Interest 18,144 6,154 0 0 0 0
2007 Certificates of Obligation
Principal 185,000 190,000 200,000 200,000 210,000 220,000
Interest 76,960 69,253 61,239 61,239 52,814 43,977
2011 Certificates of Obligation
Principal 420,000 435,000 455,000 455,000 0 0
Interest 53,250 40,425 27,075 6,825 0 0
2020 Refunding (2011) CO
Principal 0 0 0 0 115,000 115,000
Interest 0 0 0 4,466 6,055 4,709
2019 Certificates of Obligation
Principal 0 85,000 50,000 50,000 55,000 55,000
Interest 0 16,358 13,950 13,950 11,325 8,575
2020 TN Certificates of Obligation
Principal 0 0 75,000 75,000 90,000 90,000
Interest 0 0 22,138 22,138 11,550 8,400

2020 Certificates of Obligation
Principal 0 0 115,000 120,000 115,000 200,000
Interest 0 0 73,563 66,575 63,050 58,325
2021 Certificates of Obligation (PROPOSED)
Principal 0 0 0 0 265,000 285,000
Interest 0 0 0 0 114,188 107,313
2022 Certificates of Obligation (UNDER DEVELOPMENT)
Principal 0 0 0 0 0 200,000
Interest 0 0 0 0 0 60,000

Fiscal Agent Charges 1,180 1,400 1,200 1,200 1,600 1,800
Total Debt Service Requirement $2,496,119 $2,618,283 $2,957,206 $2,939,434 $3,143,658 $2,675,295
Fund Balance, September 30 $659,603 $765,068 $721,570 $732,136 $703,556 $674,439
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