119
Annual General Obligation Debt as a Percentage of General Fund
(FY 12-13 Actual; all other years Budgeted figures)
BUDGET HIGHLIGHTS
The FY 14-15 Debt Service Fund is decreasing $9.5 million or 32.7%.
The FY 13-14 budget includes a one-time expense of $6.8 million related to a bond refinancing that occurred
in February 2014.
Note: FY 13-14 debt service figure does not include one-time refinancing costs included in budget summary above.
PROGRAMS
2012-13
2013-14
2014-15
2015-16
Actual
Budget
Adopted
Projected
Appropriation
23,272,985
29,032,487
19,532,224
19,379,850
Full Time Equivalent Positions
0.75
1.40
1.58
1.58
BUDGET SUMMARY
2012-13
2013-14
2014-15
2015-16
Actual
Budget
Adopted
Projected
Expenditures:
General Obligation Bond Retirement
19,804,360
29,032,487
19,532,224
19,379,850
Hotel/Motel Debt Retirement
0
0
0
0
Installment Financing Agreements
3,468,625
0
0
0
Total
23,272,985
29,032,487
19,532,224
19,379,850
Total FTE Positions
0.750
1.400
1.580
1.580
Revenues:
Transfer
17,779,880
17,515,250
18,043,080
18,268,750
All Other
3,679,905
8,350,793
1,065,144
1,111,100
Fund Balance
2,074,153
3,166,444
424,000
0
Total
23,533,938
29,032,487
19,532,224
19,379,850
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.
7.92%
8.76%
7.54%
7.33%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
9.00%
10.00%
FY 12-13
FY 13-14
FY 14-15
FY 15-16
