Debt Service Fund

FY 2023 Annual Budget

Pro Forma Schedule of Fund Balance Position

  • Fiscal Year 2021-22 beginning Amended Budget is adjusted for actual audited amounts, encumbrances, and Council approved budget amendments.
  • The FY 2023 Budget assumes the following: 11% growth in the taxable appraised values; overall tax rate of 55.82¢, decrease of 3.00¢ from last year; M&O tax rate of 34.55¢, decrease of 0.51¢; and, debt tax rate of 21.27¢, decrease of 2.49¢.

Revenues vs Expenses

  • Taxes and Franchise Fees decreased over the prior year budget is mainly the net effect of a proposed decrease in the I&S tax rate 2.49¢ and an increase in tax taxable appraised values of 11.0%.

  • Principal payments increased mainly due to new CO Bond issue, per CIP and redeeming $500K in bonds.