2025 Budget for the City of Shakopee

100

DEBT SERVICE FUNDS

Debt Service Funds are established to account for the activity of servicing general obligation debt, paid for by tax levy and special assessments. Any residual balances in debt service funds are transferred to the Capital Improvement Fund. Debt Service Prepayments from special assessments and the use of existing cash position have allowed for reductions in previous and current year levies. Future budgets will require increased debt service levies to meet future payment obligations.

SUMMARY

2019A GO TAX INCREMENT REVENUE BONDS

2020A GO TAX INCREMENT REVENUE BONDS

2022A GO TAX INCREMENT REVENUE BONDS

2016A GO TAX ABATEMENT BONDS

TAXES

2,189,000.00

0.00 0.00 0.00

0.00 0.00 0.00

0.00 0.00 0.00

SPECIAL ASSESSMENTS

0.00

TOTAL REVENUES

2,189,000.00

DEBT SERVICE

(2,098,400.00) (2,098,400.00)

(342,300.00) (342,300.00) 362,500.00 362,500.00

(626,500.00) (626,500.00) 668,500.00 668,500.00

(254,900.00) (254,900.00) 265,300.00 265,300.00

TOTAL EXPENDITURES

TRANSFERS IN

0.00 0.00

TOTAL OTHER FINANCING

EXCESS (DEFICIENCY) OF REV. OVER EXP.

90,600.00

20,200.00

42,000.00

10,400.00

FUND BALANCE, JANUARY 1

1,435,762.00

319,944.00

581,912.00

(75,250.00)

FUND BALANCE, DECEMBER 31

1,526,362.00

340,144.00

623,912.00

(64,850.00)