Page 84 - CityofColleyvilleFY23AdoptedBudget
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Fund Balance
Per the State's new mandated debt service tax calculations, the fund is required to use previously
accumulated funds to pay for a portion of the current year's debt service, resulting in a draw down of fund
balance similar to the previous two years. Starting in FY24, staff is anticipating earned revenues to cover all
expenses.
Projections
$1. 25M
$1M
$750K
$500K
$250K
$0
FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023
Restric ted
Financial Summar y FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 % Change
— — — — — — —
Fund Balance
Restricted $693,195 $697,975 $844,866 $1,126,001 $1,066,797 $872,399 $416,275 -52.3%
Total Fund Balance: $693,195 $697,975 $844 , 866 $1,126 ,001 $1,066 ,797 $872 , 399 $ 416 , 275 -52 . 3%
City of Colleyville | Budget Book 2023 Page 84