Page 112 - City of Fort Worth Budget Book

Debt Service Funds Culture and Tourism Debt Service

FUND SUMMARY

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

Revenues
Use of Money & Property $ 525,301 $ — $ — $ — $ — 0.0 %
Transfer In 4,988,858 3,891,026 3,891,026 6,954,652 3,063,626 78.7 %
Use of Fund Balance — — — — — 0.0 %
Total Revenues 5,514,159 3,891,026 3,891,026 6,954,652 3,063,626 78.7 %

Expenses
Debt Service Accts 4,988,858 3,891,026 3,891,026 6,954,652 3,063,626 78.7 %
Transfer Out & Other — — — — — 0.0 %
Total Expenses 4,988,858 3,891,026 3,891,026 6,954,652 3,063,626 78.7 %
Grand Total $ 525,301 $ — $ — $ — $ — 0.00 %

FUND PURPOSE AND GOALS

The Culture & Tourism debt service fund is used to finance upgrades, updates, and construction projects to city-
owned facilities that would add to the tourist attractions in the City of Fort Worth. Examples include the
Convention Center and the Will Rogers Memorial Coliseum.

The following chart provides the principal and interest for each bond issuance that has a payment due in FY2024.

FY2024 Principal Interest Total Debt Service
2015A General Purpose Ref 865,000 114,625 979,625
2020 General Purpose Ref & Imp 1,520,000 643,500 2,163,500
2021 Gen Purpose Ref (Taxable) 655,000 91,778 746,778
2023 Combination Tax 770,000 2,294,749 3,064,749
$ 3,810,000 $ 3,144,652 $ 6,954,652

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