Page 49 - Grapevine FY23 Adopted Budget (1)

Debt Policy

The City’s policy is to use bond proceeds for capital expenditures only. Such revenues are never to
be used to fund normal City operations. The City Council has also set a goal of capping net general
debt service at 25% of the General Fund budget.

Net General Debt Service as Percentage FY19 FY20 FY21 FY22 FY23
of General Fund Expenditures Actual Actual Actual Estimate Approved

General Debt Service 22,081,757 15,831,910 15,211,029 14,206,210 13,841,050
Less: Transfer Funding (8,438,308) (2,387,064) (2,399,369) (2,057,569) (2,060,869)
Net General Debt Service 13,643,449 13,444,846 12,811,660 12,148,641 11,780,181
General Fund Expenditures 64,235,788 69,091,575 70,518,619 68,044,389 73,762,264

Percentage of General Fund Expenditures 21% 19% 18% 18% 16%

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