Page 289 - FY 24 Budget Forecast at Adoption.xlsx

DEBT SERVICE FUND

FUND DESCRIPTION:
The Debt Service Fund is used to account for the accumulation of resources for and the payment of, general long-term debt
principal and interest.

REVENUE SUMMARY

FY 2023-24
FY 2021-22 FY 2022-23 FY 2022-23 Adopted Budget
REVENUES Actual Budget YE Proj. Budget Variance ($)

Current Taxes $ 3,545,531 $ 3,744,305 $ 3,744,305 $ 3,978,747 $ 234,442

Delinquent Taxes 8,559 20,277 20,496 15,165 (5,112)

Penalty & Interest-Taxes 13,301 14,099 20,778 12,305 (1,794)
Premium On Debt Issuance – – – – –
Debt Issuance-Refunding Bonds – – – – –

Interest Revenue-Investments 16,393 6,763 92,276 55,379 48,616

Miscellaneous Revenue 3,068 – – – –
TOTAL $ 3,586,852 $ 3,785,444 $ 3,877,855 $ 4,061,596 $ 276,152

EXPENDITURE SUMMARY

FY 2023-24
FY 2021-22 FY 2022-23 FY 2022-23 Adopted Budget
EXPENDITURES BY CATEGORY: Actual Budget YE Proj. Budget Variance ($)

Personnel services $ – $ – $ – $ – $ –
Operations & maintenance – – – – –
Services & other 20,008 – – – –

Debt service 3,640,571 3,742,294 3,742,294 3,996,592 254,298
Capital outlay – – – – –
TOTAL $ 3,660,579 $ 3,742,294 $ 3,742,294 $ 3,996,592 $ 254,298

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