Page 116 - City of Fort Worth Budget Book

Debt Service Funds Stormwater Debt Service

FUND SUMMARY

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

Revenues
Use of Money & Property $ 795,156 $ — $ — $ — $ — 0.0 %
Transfer In 7,727,896 9,640,778 9,640,778 12,406,016 2,765,238 28.7 %
Use of Fund Balance — — — — — 0.0 %
Total Revenues 8,523,052 9,640,778 9,640,778 12,406,016 2,765,238 28.7 %

Expenses
Debt Service Accts 9,498,694 9,503,370 9,503,370 12,124,389 2,621,019 27.6 %
Transfer Out & Other — 137,408 137,408 281,627 144,219 105.0 %
Total Expenses $ 9,498,694 $ 9,640,778 $ 9,640,778 $ 12,406,016 $ 2,765,238 28.7 %
Grand Total $ (975,642) $ — $ — $ — $ — 0.0 %

FUND PURPOSE AND GOALS
The Stormwater Debt Service Fund is used to fund the repayment of Drainage Utility Revenue Bonds that were
issued to support projects which update, upgrade, or improve the city’s current storm water system. It also
includes long-range development planning of the system.

The following chart provides principal and interest by series for each debt issuance that has a payment due in
FY2024. Handling charges are included separately from principal and interest depicted in the chart, as is a
contribution to fund balance.

FY2024 Principal Interest Total Debt Service
2016 Drainage Rev $ 1,040,000 $ 392,600 $ 1,432,600
2019 Drainage Rev Ref 1,570,000 923,881 2,493,881
2020 Drainage Rev Ref 2,910,000 2,683,038 5,593,038
2023 Drainage Rev Ref 400,000 2,201,670 2,601,670
$ 5,920,000 $ 6,201,189 $ 12,121,189

Page 116