Fiscal Year 2019 Budget

163

2018-2019 Annual Budget DEBT SERVICE FUND

2013

2018

2014

2017 SRF

GO PURPOSE GO PURPOSE (2)

REDLG

REFUNDING

LOAN 4TH AVE W (1)

Original Issuance

2,245,000

1,500,000

360,000

1,505,000

Maturity Date of Debt

6/1/2022

6/1/2028

7/15/2025

6/1/2037

Amounts Remaining as of July 1, 2018 Principal Payments Remaining

570,000 15,050

1,300,000

252,000

1,505,000

Interest Remaining

218,400

-

278,862

REVENUE Debt Levy per Debt Issuance

(250,950)

(150,000)

-

-

Other Financing

Tax Increment Financing

(26,250)

- -

-

- - -

County E-911 Board

- - -

(36,000)

Debt Service Fund Reserves

(4,200)

- -

Sewer Revenues

-

(95,080) (95,080)

TOTAL REVENUES

(277,200)

(154,200)

(36,000)

EXPENDITURES Principal Payment Interest Payment

270,000

120,000 36,600

36,000

65,000 26,320

6,700

Registrar / Servicing Fees Other Financing Transfers Out TOTAL EXPENDITURES

500

500

3,760

277,200

157,100

36,000

95,080

(EXCESS) DEFICIENCY OF REVENUE (OVER) UNDER EXPENDITURES

-

2,900

-

-

(1) At the time of adoption of the FY 18- 19 Budget, the City has not closed out the 2017 SRF 4th Ave W loan. The amounts listed for Principal and Interest are estimates based upon the City's application to the SRF program. Final schedule of payments will be known once the loan has been closed.

(2) At the time of adoption of the FY 18-19 Budget, the City had not finalized the sale of the 2018 GO Purpose Bonds and estimated what the Principal and Interest payments would be. Additional Debt Service Reserves will be utilized to cover the shown deficiency and the Budget will be amended after July 1, 2018 to authorize the use of Reserve Funds.