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The annual debt service requirements for the next 10 years for the debt detailed on the previous page are as follows:
<br /> $14,000,000
<br /> $12,000,000
<br /> $10,000,000
<br /> $8,000,000
<br /> $6,000,000
<br /> $4,000,000
<br /> $2,000,000
<br /> $-
<br /> 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
<br /> ■Principal ■Interest ■P&I Paid by Escrow
<br /> Capital Projects Funds
<br /> The fund balances of all capital projects funds are summarized below:
<br /> Fund Balances
<br /> December 31, Increase
<br /> Capital Projects Fund 2012 2013 (Decrease)
<br /> Major
<br /> Tax Increment Financing Districts $ (92,950) $ (1,039,866) $ (946,916)
<br /> Nonmaj or
<br /> Capital Reserve 1,573,895 1,526,857 (47,038)
<br /> Equipment Replacement 929,132 836,471 (92,661)
<br /> Park Dedication (843,369) (839,659) 3,710
<br /> Park Improvements 225,812 177,157 (48,655)
<br /> Government Buildings 4,526,365 3,864,325 (662,040)
<br /> GRE Reserve 1,673,347 2,110,729 437,382
<br /> Pavement Management - 1,207,543 1,207,543
<br /> Street Improvements 5,091,471 1,794,744 (3,296,727)
<br /> Improvement Projects 4,307,296 4,276,522 (30,774)
<br /> Total nonmajor 17,483,949 14,954,689 (2,529,260)
<br /> Total $ 17,390,999 $ 13,914,823 $ (3,476,176)
<br /> The City has multiple individual projects that make up the funds presented above. The City should continue to monitor each
<br /> individual project. The Tax Increment Financing Districts fund and Park Dedication fund have deficit fund balances at the end of
<br /> the year. The deficits will be eliminated by future tax increment revenues and park dedication fees. City Council should continue
<br /> to review planned project sources for these funds and consider whether they will be available within a sufficient timeframe to
<br /> cover current activity.
<br /> People
<br /> +Process®
<br /> Going
<br /> Beyondthe
<br /> -10- Numbers
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