Page 65 - City of Watauga FY22 Adopted Budget

Water and Wastewater Debt Service Fund/Debt Reserve Funds
Multi-Year Financial Plan

Year 1 Year 2 Year 3 Year 4 Year 5
Budget Projected Projected Projected Projected
2021-22 2022-23 2023-24 2024-25 2025-26
BEGINNING BALANCE (30,258) 6,543 61,073 61,073 61,073

REVENUES
Transfer from W&WW Operations 1,760,000 2,060,000 1,997,538 2,002,366 2,275,357
Interest 0 1,000 1,000 1,000 1,000
Total Revenues 1,760,000 2,061,000 1,998,538 2,003,366 2,276,357

EXPENSES
Principal (1,160,000) (1,400,000) (1,430,000) (1,470,000) (1,660,000)
Interest (562,199) (605,470) (567,538) (532,366) (615,357)
Bank Charges (1,000) (1,000) (1,000) (1,000) (1,000)
Total Expenses (1,723,199) (2,006,470) (1,998,538) (2,003,366) (2,276,357)
Recommended Reserves per Policy * 0 0 0 0 0
ENDING FUND BALANCE 6,543 61,073 61,073 61,073 61,073

Debt Issuance Variable:
Beginning debt outstanding 20,005,000 22,845,000 21,645,000 20,215,000 22,745,000
Principal retired (1,160,000) (1,200,000) (1,430,000) (1,470,000) (1,660,000)
Principal Issued (Proposed) 4,000,000 - 4,000,000

Ending debt outstanding 22,845,000 21,645,000 20,215,000 22,745,000 21,085,000

56