Page 179 - City of Fort Worth Budget Book

Debt Service Funds Debt Service Fund Statement

FUND SUMMARY

FY2023 FY2024 FY2024 FY2025 Chg from PY Adopted
Final Adopted Adjusted Rec. Amount %

Revenues
Property Tax $ 138,058,749 $ 162,378,702 $ 162,378,702 $ 171,631,393 $ 9,252,691 5.7 %
Charge for Service — — — — — 0.0 %
Use of Money & Property 51,364,771 3,450,000 3,450,000 7,500,000 4,050,000 117.4 %
Transfer In 137,539,960 154,426,557 228,291,103 165,032,101 10,605,544 6.9 %
Total Revenues 326,963,480 320,255,259 394,119,805 344,163,494 23,908,235 7.5 %

Use of Fund Balance — — 37,940,298 205,910 205,910 0.0 %

Expenses
Capital Accts — — — —
Debt Service Accts 277,275,089 304,059,020 428,885,576 328,764,114 24,705,094 8.1 %
Transfer Out — 2,980,400 2,980,400 2,980,400 — 0.0 %
Total Expenses 277,275,089 307,039,420 431,865,976 331,744,514 24,705,094 8.0 %

Contribution to Fund
Balance — 13,215,839 194,127 12,624,890 (590,949) -4.5 %

Revenues Over(Under)
Expenses $ 49,688,391 $ — $ — $ — $ — 0.0 %

FUND PURPOSE AND GOALS

Debt service funds account for the accumulation of financial resources for the payment of principal, interest, and
related costs on long-term obligations paid primarily from taxes levied by the city. The city will utilize seven debt
service funds to accumulate the resources to make principal and interest payments on existing bond issues. Debt
service funds include the General Debt Service Fund, Culture and Tourism Debt Service Fund, Venue Debt
Service Fund, Stormwater Debt Service Fund, Solid Waste Debt Service Fund, Municipal Parking Debt Service
Fund, and a Water Debt Service Fund. The total FY2025 debt service requirements, for all funds’ outstanding debt
are $328,259,311 (does not include capital leases, energy conservation loans, or handling charges).

TOTAL GENERAL OBLIGATION DEBT
Of the total debt amount projected for the upcoming fiscal year (FY2025), $187,938,902 is for general obligation
bonds, certificates of obligation, loans, and tax notes.

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