Page 260 - NEXT YEAR BUDGET DETAIL REPORT

DEBT SERVICE FUND SUMMARY

BUDGETED PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED PROJECTED
FY 2023 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
BEGINNING FUND BALANCE - 10/1 871,377 871,377 455,593 459,004 444,230 427,318 411,790
FUND REVENUES
Current Property Taxes 591,160 615,000 649,871 1,277,120 1,712,333 1,668,581 1,597,057
Delinquent Property Taxes 5,000 2,000 2,000 2,000 2,000 2,000 2,000
Penalty & Interest 5,000 2,000 2,000 2,000 2,000 2,000 2,000
Transfer-in General Fund* 0 0 560,000 560,000 0 0 0
Interest Income/Other 7,500 25,000 25,000 25,000 25,000 25,000 25,000
TOTAL REVENUES 608,660 644,000 1,238,871 1,866,120 1,741,333 1,697,581 1,626,057
FUND EXPENDITURES
2016 G.O. Refunding Bonds 478,325 478,325 477,350 478,350 479,150 479,750 0
2022 Tax & C.O. Bonds 0 290,774 477,425 474,675 471,925 469,175 875,925
2016 Engine Lease 48,485 48,485 48,485 48,485 48,485 0 0
Ambulance Lease 120,000 120,000 110,000 110,000 110,000 115,500 115,500
2020 Pumper Lease 120,700 120,700 120,700 120,700 0 0 0
2025 Pumper Lease 0 0 0 297,185 297,185 297,185 297,185
Projected: Future Leases 0 0 0 350,000 350,000 350,000 350,000
Paying Agent 1,500 1,500 1,500 1,500 1,500 1,500 1,500
TOTAL EXPENDITURES 769,010 1,059,784 1,235,460 1,880,895 1,758,244 1,713,110 1,640,110
ENDING FUND BALANCE - 9/30 711,027 455,593 459,004 444,230 427,318 411,790 397,738

**For FY24, staff is proposing a larger increase in General Fund taxation with the thought of transferring surplus
dollars to assist with debt service payments. Staff believes this strategic move will assist with some expected
operating pressures in the later years of our forecast.

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