FY23 FULL BUDGET REPORT ADOPTED

Other Fund Details Other funds are considered sub-funds to the General Fund and therefore are consolidated at time of reporting.

Debt Fund

Purpose Themission of the Debt Fund is to account for the accumulation of resources for expenditures associated with the principle, interest, and other fees for short and long-term debt obligations annually. • Provides separate tracking outside of the general fund • Allows for the accumulation of retired debt reserves annually to be reapplied to future debt • Provides for strategic leveraging of resources

Budget Notes

2022 Estimated Actual

2023 Projected Budget

2020 Actual

2021 Actual

DEBT SERVICE

Principal/Interest Administrative Cost

$ $ $ $

3,492,066

$ $

3,144,159 $

2,847,987 $

4,089,000

20,037 $

157,500 $

150,000

- -

Reserve

$

683,275 $ 3,688,762 $

1,076,000 5,315,000

$

3,164,196 $

Total Expenditures

3,492,066

63.9%

Year Over Year % Change Total Year Over Year $s Change Total

-9.4%

16.6%

44%

$

1,361,652

$

(327,870) $

524,566 $

1,626,238

FY23 Budget Priorities Debt Service for 16.5M 2021 Bond Issuance

$ $ $

1,395,000

Bond Issuance Cost

150,000

1,545,000

81