FY 2024 Adopted Fund Summary

Debt Service Funds

Debt service funds are used to account for financial resources that are restricted, committed, or assigned to expenditure for principal and interest. The following are a list of debt service funds used to account for various loans, bonds, and debt held by the County.

2020A Park Projects Non-AV Revenue - Fund 2205

To account for the payment of principal and interest on the Series 2020A Capital Improvement Non-Ad Valorem Revenue Bond $7,920,000 Note for Starkey Ranch District Park and Sunwest Park. Amounts are payable from the Park Impact Fees Funds which are in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Guaranteed Entitlement Revenue Bond Series '03B - Fund 2235

To account for the partial payment of principal and interest on the Guaranteed Entitlement Refunding Revenue Bonds, Series 2003 (other partial payment from 2233). Amounts are payable from the guaranteed entitlement portion of Revenue Sharing Trust Funds of the State of Florida and from various investments and deposits. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Guaranteed Entitlement Interest & Sinking Series 2013 - Fund 2233

To account for the partial payment of principal and interest on the Guaranteed Entitlement Refunding Revenue Bonds, Series 2003 (other partial payment from B235). Amounts are payable from the guaranteed entitlement portion of Revenue Sharing Trust Funds of the State of Florida and from various investments and deposits. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Half Cent Sales Tax Series 2013 - Fund 2234

To account for the payment of principal and interest on the Half-Cent Sales Tax Revenue Bonds, Series 2003. Amounts are payable from the proceeds of the one half cent sales tax distributed to the County by the State of Florida. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Half-Cent Refund Revenue Bond Series 2022A - Fund 2211

To account for the payment of principal and interest on the Half-Cent Sales Tax Refunding Revenue Bond, Series 2022A. This $5,847,000 bond, issued May 25, 2022, matures September 30, 2029. This bond refunded a portion of the Half-Cent Sales Tax Revenue Refunding Bonds, Series 2013A. The County has pledged a portion of its half-cent sales tax revenue that is distributed to the County by the State of Florida under Florida Statute (F.S. 218.23), to fund the debt service of this bond.

Half-Cent Refund Revenue Bond Series 2022B - Fund 2212

To account for the payment of principal and interest on the Half-Cent Sales Tax Refunding Revenue Bond, Series 2022B. This $15,839,000 bond, issued May 25, 2022, matures September 30, 2034. This bond refunded a portion of the Half-Cent Sales Tax Revenue Refunding Bonds, Series 2013A. The County has pledged a portion of its half-cent sales tax revenue that is distributed to the County by the State of Florida under Florida Statute (F.S. 218.23), to fund the debt service of this bond.

Half-Cent Revenue Improvement Bond Series 2022C - Fund 2213

To account for the payment of principal and interest on the Half-Cent Sales Tax Revenue Improvement Bond, Series 2022C. This $34,805,000 bond, issued June 23, 2022, matures October 1, 2042. This bond’s proceeds are being used to the support the Detention Center Expansion project. The County has pledged a portion of its half-cent sales tax revenue that is distributed to the County by the State of Florida under Florida Statute (F.S. 218.23), to fund the debt service of this bond.

Section 108 Housing & Urban Development Debt Service - Fund 2226

To account for the payment of principal and interest on the Section 108, Housing and Urban Development (HUD) $13,000,000 Note for neighborhood revitalization projects. The County has pledged future Community Development Block Grant (CDBG) grants and other non-ad valorem funds as security for the Guaranteed Loan Funds in the HUD Contract.

Penny for Pasco Public Safety Bond - Fund 2236

To account for the payment of principal and interest on the anticipated Public Safety Bond. Amounts are payable from the proceeds of the Public Safety portion of the Penny for Pasco. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Second Local Option Fuel Tax Revenue Bond, Series 2021 - Fund 2208

To account for the payment of principal and interest on the Series 2021A Capital Improvement Non-Ad Valorem Revenue Bond $22,225,000 Note for extension of State Road 56 from Meadow Pointe Boulevard to US Highway 301/State Road 41. Amounts are payable from Second Local Option Fuel Tax which are in accordance with Section 336.025(1)(b), as currently imposed by Ordinance No. 14-22, adopted September 9, 2014, as amended and codified at Sections 102-162 through -165, Pasco County Code of Ordinances.

Tourist Development Tax Bond Series 2021 - Fund 2209

To account for the payment of principal and interest on the Series 2021 Bond for the purpose of financing and/or reimbursing design, permitting, acquisition, construction, reconstruction, and equipping of various capital projects. Amounts are payable from three (3) cents of the increased Tourist Development Tax and other non-ad valorem sources.

General Obligation Bond Debt Service Funds

The following are a list of debt service funds used to account for the voter backed General Obligation Bonds held by the County.

Libraries General Obligation Bond Debt Service - Fund 2243

To account for the payment of principal and interest on the General Obligation Bond for Libraries. Amounts are payable from the dedicated Libraries Bond 2019D property tax millage of 0.0123. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Libraries Projects 2021A Debt - Fund 2204

To account for the payment of principal and interest on the General Obligation Bond for Libraries. Amounts are payable from the dedicated Libraries Bond 2021A property tax millage of 0.0100. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Parks, Recreation & Natural Resources General Obligation Bond Debt Service - Fund 2242

To account for the payment of principal and interest on the General Obligation Bond for Parks & Natural Resources. Amounts are payable from the dedicated Parks Bond 2019C property tax millage of 0.0126. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Parks, Recreation & Natural Resources General Obligation Bond Debt Service 2022A - Fund 2210

To account for the payment of principal and interest on the General Obligation Bond for Parks & Natural Resources. Amounts are payable from the dedicated Parks Bond 2022A property tax millage of 0.0103. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Public Safety General Obligation Bond Debt Service Fund - 2241

To account for the payment of principal and interest on the General Obligation Bond for Fire Rescue. Amounts are payable from the dedicated Fire Rescue Bond 2019B property tax millage of 0.0268. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Public Safety Series 2020A Debt - Fund 2207

To account for the payment of principal and interest on the General Obligation Bond for Fire Rescue. Amounts are payable from the dedicated Fire Rescue Bond 2020A property tax millage of 0.0557. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Sheriff General Obligation Bond Debt Service - Fund 2240

To account for the payment of principal and interest on the General Obligation Bond for the Sheriff's Jail. Amounts are payable from the dedicated Jail Bond 2019A property tax millage of 0.0336. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).

Sheriff General Obligation Bond 2021B Debt - Fund 2245

To account for the payment of principal and interest on the General Obligation Bond for the Sheriff's Jail. Amounts are payable from the dedicated Jail Bond 2021B property tax millage of 0.1194. This fund is in accordance with Chapter 2, Article IV of the County Ordinances (§ 2 170).