Page 108 - City of Fort Worth Budget Book

Debt Service Funds Debt Service Fund Statement

FUND SUMMARY

FY2022 FY2023 FY2023 FY2024 Chg from PY Adopted
Final Adopted Adjusted Rec. Amount %

Revenues
Property Tax $ 120,853,275 $ 138,508,506 $ 138,508,506 $ 162,378,702 $ 23,870,196 17.2 %
Charge for Service 96,285 — — — — 0.0 %
Use of Money & Property 13,653,469 3,450,000 3,450,000 3,450,000 — 0.0 %
Transfer In 207,656,511 136,437,929 148,272,929 154,426,557 17,988,628 13.2 %
Total Revenues 342,259,540 278,396,435 290,231,435 320,255,259 41,858,824 15.0 %

Use of Fund Balance — — 228,042 — — 0.0 %

Expenses
Capital Accts — — — —
Debt Service Accts 339,721,881 275,411,715 287,474,757 304,059,020 28,647,305 10.4 %
Transfer Out 2,975,650 — — 2,980,400 2,980,400 0.0 %
Total Expenses 342,697,531 275,411,715 287,474,757 307,039,420 31,627,705 11.5 %

Contribution to Fund
Balance — 2,984,720 2,984,720 13,215,839 10,231,119 342.8 %

Revenues Over(Under)
Expenses $ (437,991) $ — $ — $ — $ — 0.0 %

FUND PURPOSE AND GOALS
Debt service funds account for the accumulation of financial resources for the payment of principal, interest, and
related costs on long-term obligations paid primarily from taxes levied by the city. The city will utilize seven debt
service funds to accumulate the resources to make principal and interest payments on existing bond issues. Debt
service funds include the General Debt Service Fund, Culture and Tourism Debt Service Fund, Venue Debt
Service Fund, Stormwater Debt Service Fund, Solid Waste Debt Service Fund, Municipal Parking Debt Service
Fund, and a Water Debt Service Fund. The total FY2024 debt service requirements, for all funds’ outstanding debt
are $291,589,119 (does not include capital leases, energy conservation loans, or handling charges).

TOTAL GENERAL OBLIGATION DEBT

Of the total debt amount projected for the upcoming fiscal year (FY2024), $157,682,020 is for general obligation
bonds, certificates of obligation, loans, and tax notes.

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