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Debt Service Budget Summary
City of Otsego Debt Service Fund Budget ‐ 2021 Revenue & Expenditure Summary Actual Actual Year‐to‐Date Budget Budget 2018 2019 2020 2020 2021 Revenues Taxes 655,000$ 734,293$ ‐$ 746,757$ 749,551$ Special Assessments 659,067 517,085 31,929 423,349 397,433 Utility Availability + Connection Charges 3,939,956 4,880,689 1,065,108 1,881,750 1,900,550 Investment Interest (net) 181,310 498,018 ‐ ‐ ‐ Interfund Transfers 308,610 301,579 ‐ 133,950 141,000 Bond Proceeds 110,984 ‐ ‐ ‐ ‐ Subtotal 5,854,927 6,931,664 1,097,037 3,185,806 3,188,534 Expenditures Capital Outlay 20,955 ‐ ‐ ‐ ‐ Principal 1,160,000 1,185,000 655,000 3,665,000 3,770,000 Interest 1,060,485 1,024,203 390,531 780,250 683,581 Fiscal Agent Fee's 75,843 73,433 1,245 4,750 4,750 Debt Service Amortizations (78,881) (78,883) ‐ (78,882) (153,611) Transfers Out ‐ ‐ ‐ ‐ ‐ Subtotal 2,238,403 2,203,752 1,046,776 4,371,118 4,304,720 Excess (Deficiency) of Revenues Over (Under) Expenditures 3,616,524$ 4,727,912$ 50,261$ (1,185,312)$ (1,116,186)$ Description ‐ 1,000,000 2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 7,000,000 8,000,000 2018 2019 2020 2020 2021 Actual Actual Year‐to‐Date Budget Budget Principal Interest Revenues