Page 330 - FortWorthFY23AdoptedBudget

SECTION 3. DEBT SERVICE FUNDS

Debt service funds are used to account for the accumulation of resources for, and the payment of,
principal and interest on outstanding debt obligations as shown below.

The General Debt Service Fund is a debt service fund utilized to manage revenues from the debt
portion of property tax assessments and other resources and used to pay principal and interest on and to

create a sinking fund for outstanding general indebtedness of the City and for FY2023 shall have receipts
and appropriations as follows:

REVENUES
Property Tax $138,508,506
Use of Money and Property $3,450,000
Transfer from CCPD $2,655,560
Transfer from TIRZ #14 Trinity Lakes $1,324,950
$145,939,016

EXPENDITURES
Financial Management Services (Debt Obligation) $145,939,016
$145,939,016

The Culture and Tourism Debt Service Fund is a debt service fund utilized to manage hotel

occupancy tax revenues and other resources allocated to pay principal and interest on and to create a
sinking fund for outstanding debt related to improvements at the Convention Center and Will Rogers

Memorial Complex for FY2023 shall have receipts and appropriations as follows:

REVENUES
Transfer from Culture and Tourism $343,372
Transfer from Culture and Tourism 2% Hotel $976,750
Transfer from DFW Revenue Share $2,570,904
$3,891,026

EXPENDITURES
Financial Management Services (Debt Obligation) $3,891,026
$3,891,026

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Page 330 of 623
Ordinance No. 25773-09-2022