Page 48 - GrapevineFY24 Adopted Budget

Debt Policy

The City’s policy is to use bond proceeds for capital expenditures only. Such revenues are never to
be used to fund normal City operations. The City Council has also set a goal of capping net general
debt service at 25% of the General Fund budget.

Net General Debt Service as Percentage FY20 FY21 FY22 FY23 FY24
of General Fund Expenditures Actual Actual Actual Estimate Approved

General Debt Service 15,831,910 16,359,700 14,878,255 14,502,970 14,504,118
Less: Transfer Funding (2,387,064) (2,399,369) (2,057,569) (2,060,869) (2,057,569)
Net General Debt Service 13,444,846 13,960,331 12,820,686 12,442,101 12,446,549

General Fund Expenditures 69,091,575 70,518,619 78,371,737 80,182,789 80,016,454

Percentage of General Fund Expenditures 19% 20% 16% 16% 16%

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