Page 60 - Trophy Club ORD 2023-15 Adoption FY23-24

TOWN OF TROPHY CLUB, TEXAS
Annual Program of Services
FY 2023
Debt Service Fund FY 2021 FY 2022 FY 2022 AMENDED FY 2023 FY 2024 FY 2025 FY 2026
ACTUAL
AMENDED
ACTUAL
BUDGET ESTIMATE PROPOSED PROJECTED PROJECTED
Beginning Fund Balance $ 706,640 $ 535,364 $ 423,426 $ 393,054 $ 107,970 $ 165,869 $ 103,149 $ 3,041,509
Revenue
Property Taxes $ 2,411,195 $ 2,523,357 $ 2,532,976 $ - $ 2,568,120 $ 2,619,482 $ 5,675,736 $ 1,880,574

Property Taxes/Delinquent 4,078 2,000 (2,738) - 5,354 2,000 2,000 2,000
Property Taxes/Penalty & Interest 4,699 4,500 6,641 2,568,120 10,193 4,500 4,500 4,500
Intergovernmental Transfer EDC - - - - - - - -

Interest Income 740 2,500 8,756 2,000 28,927 2,500 2,500 2,500
Miscellaneous Revenue 14,292 - 226 - -
Total Revenue $ 2,435,004 $ 2,532,357 $ 2,545,861 $ 2,570,120 $ 2,612,594 $ 2,628,482 $ 5,684,736 $ 1,889,574
Expenditures
Principal Payments $ 2,068,000 $ 2,408,000 $ 2,138,000 $ 2,173,000 $ 2,173,000 $ 2,140,000 $ 2,285,000 $ 1,490,000
Interest Payments 473,755 645,527 546,123 575,713 575,713 745,220 656,140 591,199
Paying Agent Fees - 7,500 - 7,500 7,500 7,500 7,500 7,500
Bond/CO Issuance cost - - - - - - - -
Total Expenditures $ 2,541,755 $ 3,061,027 $ 2,684,123 $ 2,756,213 $ 2,756,213 $ 2,892,720 $ 2,948,640 $ 2,088,699
Other Sources (Uses)
Bond Proceeds $ - $ - $ - $ - $ - $ - $ - $ -
Bond Proceeds- Premium - - - - - - - -
Refund Cost - - - - - - - -
Transfer In- General Fund - - - - - - - -
Transfer In-EDC 4B - 200,257 - - 201,518 201,518 202,263 202,463
Transfer In- Street Maintenance Sales - - - - - - - -
Transfer In- Storm Drainage - - - - - - - -
Transfer In - Capital Projects - - - - - - - -
Transfer In - CCPD - - - - - - - -
Transfer In - sub-total - 200,257 - - 201,518 201,518 202,263 202,463
Transfer Out (176,463) - (177,194) - - - - -
Total Other Sources (Uses) $ (176,463) $ 200,257 $ (177,194) $ - $ 201,518 $ 201,518 $ 202,263 $ 202,463
Net Increase (Decrease) $ (283,214) $ (328,413) $ (315,456) $ (186,093) $ 57,899 $ (62,720) $ 2,938,360 $ 3,338
Ending Fund Balance $ 423,426 $ 206,951 $ 107,970 $ 206,961 $ 165,869 $ 103,149 $ 3,041,509 $ 3,044,847

FY24 Adopted Budget 52