Page 114 - City of Fort Worth Budget Book

Debt Service Funds Municipal Parking Debt Service

FUND SUMMARY

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

Revenues
Use of Money & Property $ 18,557 $ — $ — $ — $ — 0.0 %
Transfer In 2,975,650 2,975,400 2,975,400 2,980,400 5,000 0.2 %
Total Revenues 2,994,207 2,975,400 2,975,400 2,980,400 5,000 0.2 %

Expenses
Debt Service Accts 2,975,650 2,975,400 2,975,400 2,980,400 5,000 0.2 %
Total Expenses 2,975,650 2,975,400 2,975,400 2,980,400 5,000 0.2 %
Grand Total $ 18,557 $ — $ — $ — $ — 0.0 %

FUND PURPOSE AND GOALS

The Municipal Parking Debt Service Fund is used to finance upgrades, repairs, and construction of city parking
facilities. In the past, parking revenues were not sufficient to cover the debt; therefore, general debt service
supported coverage of the obligation. This was executed by a transfer in of funds from the General Debt Service
Fund. Again in FY2024, the General Debt Service Fund will support the repayment of the parking obligation from
a transfer in of funds.

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

FY2024 Principal Interest Total Debt Service
2016 General Purpose Ref $ 1,950,000 $ 1,030,400 $ 2,980,400
$ 1,950,000 $ 1,030,400 $ 2,980,400

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