Page 156 - CityofGrapevineFY25AdoptedBudget

FY 2024-25 APPROVED OPERATING BUDGET
STATEMENT OF REVENUE, EXPENDITURES AND CHANGES IN FUND BALANCE
DEBT SERVICE FUND

2021-22 2022-23 2023-24 2023-24 2024-25
Actual Actual Budget Estimate Approved

BEGINNING FUND BALANCE: 6,681,805 6,997,402 6,778,612 6,778,612 7,537,063

OPERATING REVENUE:
Property Taxes Current 12,926,116 13,012,813 13,105,949 12,900,000 13,000,000

Property Taxes Delinquent 131,464 83,595 70,000 90,000 70,000
Miscellaneous Revenue 22,915 7,094 - - -
Interest Income 55,788 342,176 150,000 365,000 150,000

Total Operating Revenue 13,136,283 13,445,678 13,325,949 13,355,000 13,220,000

TRANSFERS IN:
Transfer from CVB Fund 658,675 - 659,400 659,400 666,555
Transfer from Storm Drainage - - - - 222,815
Transfer from Lake Park - - - - 50,830
Transfer from Water Utility - - - - 1,632,815
Transfer from Economic Development Fund 1,398,894 1,401,444 1,398,169 1,398,169 1,398,453

Total Transfers In 2,057,569 1,401,444 2,057,569 2,057,569 3,971,468
TOTAL REVENUE AND TRANSFERS 15,193,852 14,847,122 15,383,518 15,412,569 17,191,468

OPERATING EXPENDITURES:
G. O. Bond Interest Payments 1,814,132 1,595,543 1,389,543 1,389,543 1,241,168
G. O. Bond Principal Payments 6,220,000 6,485,000 5,710,000 5,710,000 5,895,000

C. O. Interest Payments 1,772,637 2,047,281 2,111,850 2,111,850 3,648,923
C. O Principle Payments 2,875,000 2,675,000 3,235,000 3,235,000 4,220,000
Tax and Note Interest Payments 498,894 471,444 443,169 443,169 413,453

Tax and Note Principal Payments 900,000 930,000 955,000 955,000 985,000

Fiscal Agent and Bond Fees 126,854 199,725 - 150,000 -
Transfers 670,738 661,919 659,556 659,556 666,056
Total Operating Expenditures 14,878,255 15,065,912 14,504,118 14,654,118 17,069,600

TRANSFERS OUT: - - - -
TOTAL EXPENDITURES AND TRANSFERS 14,878,255 15,065,912 14,504,118 14,654,118 17,069,600

SURPLUS (DEFICIT) OF REVENUE
OVER (UNDER) EXPENDITURES: 315,597 (218,790) 879,400 758,451 121,868

ENDING FUND BALANCE: 6,997,402 6,778,612 7,658,012 7,537,063 7,658,931
FUND BALANCE REQUIREMENT: 2,934,889 2,932,508 2,861,086 2,890,675 3,367,154

* Fund balance requirement is 20% of total budgeted expenditures (72 days of operation).
The FY 2024-2025 projected Ending Fund Balance represents 45% of total budgeted expenditures (164 days of operation).

148 Back to Table of Contents
Table
Contents
of
Back
Back to Table of Contents
to