217 / 373
Schedule 29
Debt Service Fund
Schedule of Revenues, Expenditures and Changes in Fund Balance - Budget and Actual
For the Fiscal Year Ended June 30, 2016
Variance
Final
Positive
Budget
Actual
(Negative)
Revenues:
Interest Earnings:
Investment Income
1,026,838
$
1,124,463
$
97,625
$
Net Increase (Decrease) in the Fair Value of Investments
235,743
235,743
Total Investment Income
1,026,838
1,360,206
333,368
Miscellaneous:
Sales and Use Tax Refund
100,000
187,199
87,199
Total Miscellaneous
100,000
187,199
87,199
Appropriated Fund Balance
4,000
(4,000)
Total Revenues
1,130,838
1,547,405
416,567
Expenditures:
Operating Expenditures:
Personal Services
103,888
114,016
(10,128)
Fringe Benefits
35,700
32,570
3,130
Maintenance and Operations
113,812
66,688
47,124
Total Operating Expenditures
253,400
213,274
40,126
Debt Service:
Principal Retirement
12,906,844
11,390,844
1,516,000
Interest
5,879,164
4,934,163
945,001
Fees and Other
364,000
250,840
113,160
Total Debt Service Expenditures
19,150,008
16,575,847
2,574,161
Total Expenditures
19,403,408
16,789,121
2,614,287
Excess of Revenues Under Expenditures
(18,272,570)
(15,241,716)
3,030,854
Other Financing Sources:
Transfers In
18,272,570
18,272,570
Total Other Financing Sources
18,272,570
18,272,570
Excess of Revenues and Other Financing
Sources Over Expenditures
$
3,030,854
3,030,854
Fund Balance - July 1
7,878,571
7,878,571
Fund Balance - June 30
10,909,425
$
10,909,425
$
-86-