134 / 158
119
Annual General Obligation Debt as a Percentage of General Fund
BUDGET HIGHLIGHTS
The FY 15-16 Debt Service Fund is decreasing $132,816, or 0.68%.
The FY 13-14 General Obligation Bond Retirement of $26,170,468 included $6,831,619 of one-time refinanc-
ing costs.
A 1 cent increase to the property tax rate in FY 16-17 is included to pay for the increasing debt service costs
associated with the planned debt issuance and project timeline.
Note: FY 13-14 debt service figure does not include one-time refinancing costs included in budget summary above.
PROGRAMS
2013-14
2014-15
2015-16
2016-17
Actual
Budget
Adopted
Projected
Appropriation
26,170,468
19,532,224
19,399,408
19,399,408
Full Time Equivalent Positions
1.40
1.58
1.58
1.58
BUDGET SUMMARY
2013-14
2014-15
2015-16
2016-17
Actual
Budget
Adopted
Projected
Expenditures:
General Obligation Bond Retirement
26,170,468
19,532,224
19,399,408
23,003,322
Hotel/Motel Debt Retirement
0
0
0
0
Installment Financing Agreements
0
0
0
0
Total
26,170,468
19,532,224
19,399,408
23,003,322
Total FTE Positions
1.400
1.580
1.580
1.580
Revenues:
Transfer
17,515,250
18,043,080
18,272,570
21,145,616
All Other
9,236,111
1,065,144
1,126,838
1,363,000
Fund Balance
3,166,444
424,000
0
494,706
Total
29,917,805
19,532,224
19,399,408
23,003,322
DEBT SERVICE FUND
The Debt Service Fund is an accounting entity established to record the retirement of the City’s general obligation bonded
indebtedness. Expenditures in this fund include principal and interest payments on the City’s debt as well as administrative costs
associated with selling bonds.
7.71%
7.50%
7.33%
8.43%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
FY 13-14
Actual
FY 14-15
Budget
FY 15-16
Budget
FY 16-17
Budget