140 / 156
126
Adopted FY 2016-17 Budget
Annual General Obligation Debt as a Percentage of General Fund Budget
BUDGET HIGHLIGHTS
The FY 16-17 Adopted Budget is increasing by $4,003,466, or 20.6%.
Property tax revenue allocation for debt service will increase from 7.25 cents to 8.25 cents. This increase
is being absorbed within the General Fund with no actual property tax rate adjustment.
PROGRAMS
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
Appropriation
16,816,491
19,399,408
23,402,874
23,369,781
Full Time Equivalent Positions
1.58
1.55
1.55
1.55
BUDGET SUMMARY
2014-15
2015-16
2016-17
2017-18
Actual
Budget
Adopted
Projected
Expenditures:
General Obligation Bond Retirement
16,816,491
19,399,408
23,402,874
23,369,781
Hotel/Motel Debt Retirement
0
0
0
0
Installment Financing Agreements
0
0
0
0
Total
16,816,491
19,399,408
23,402,874
23,369,781
Total FTE Positions
1.580
1.550
1.550
1.550
Revenues:
Transfer
18,043,080
18,272,570
21,238,110
21,454,370
All Other
1,429,895
1,126,838
2,164,764
1,507,732
Fund Balance
424,000
0
0
407,679
Total
19,896,975
19,399,408
23,402,874
23,369,781
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.
7.33%
8.49%
8.30%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
FY 15-16
Budget
FY 16-17
Budget
FY 17-18
Budget