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Debt - Budget Summary
City of Otsego Debt Service Fund Budget ‐ 2020 Revenue & Expenditure Summary Actual Actual Year‐to‐Date Budget Budget 2017 2018 2019 2019 2020 Revenues Taxes 655,000$ 655,000$ ‐$ 734,293$ 746,757$ Special Assessments 632,789 659,067 10,915 421,642 423,349 Utility Availability + Connection Charges 3,556,395 3,939,956 2,592,476 1,848,850 1,867,500 Investment Interest (net) 95,665 181,310 ‐ ‐ ‐ Interfund Transfers 251,008 308,610 260,610 301,610 260,610 Bond Proceeds ‐ 110,984 ‐ ‐ ‐ Subtotal 5,190,857 5,854,927 2,864,001 3,306,395 3,298,216 Expenditures Capital Outlay 9,263 20,955 ‐ ‐ ‐ Principal 1,125,000 1,160,000 480,000 3,405,000 3,665,000 Interest 1,166,075 1,060,485 519,277 1,029,728 906,910 Fiscal Agent Fee's 4,975 75,843 495 5,250 4,750 Debt Service Amortizations (78,883) (78,881) ‐ (78,882) (78,882) Transfers Out 230,894 ‐ ‐ ‐ ‐ Subtotal 2,457,324 2,238,403 999,772 4,361,096 4,497,778 Excess (Deficiency) of Revenues Over (Under) Expenditures 2,733,534$ 3,616,524$ 1,864,230$ (1,054,701)$ (1,199,562)$ Description ‐ 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 2017 2018 2019 2019 2020 Actual Actual Year‐to‐Date Budget Budget Principal Interest Revenues