DEBT SERVICE FUNDS Debt service funds are used to account for the accumulation of resources for payment of longterm debt principal and interest. Nonmajor Debt Service Funds: Page Debt Service Fund To account for ad valorem taxes specifically apportioned and appropriated for the retirement of ad valorem supported debt principal and interest, as well as payment of debt supported by other legal resources transferred from various governmental funds...122 Special Assessment Debt Service Fund To account for assessments, penalties, investment income and other resources to retire debt issued for improvements benefiting those properties against which the special assessments are levied...124 District 9 Southwest Truckee Meadows: street, sanitary sewer and water improvements District 21 Cold Springs: sewer treatment plant (includes bond reserve fund) District 25 Calle De La Plata: road project District 26 Matterhorn Drive: road project District 27 Osage Road/Placerville: road project District 29 Mt. Rose: sewer project District 30 Antelope Valley Road: road project District 31 Spearhead Way/Running Bear Drive District 35 Rhodes Road: road project District 36 Evergreen Drive: road project District 37 Spanish Springs Sewer Phase 1a Truckee Meadows Fire Protection District Debt Service Fund A component unit. To account for the accumulation of resources for payment of long-term debt principal and interest...125 119
NONMAJOR DEBT SERVICE FUNDS COMBINING BALANCE SHEET JUNE 30, Special Assessment TMFPD Debt Service Debt Service Debt Service Fund Fund Fund Total Assets Cash and investments $ 7,718,563 $ 1,149,854 $ 362,838 $ 9,231,255 Property taxes receivable 94,836 - - 94,836 Other taxes receivable - 3,527,844-3,527,844 Interest receivable - 7,952-7,952 Total Assets $ 7,813,399 $ 4,685,650 $ 362,838 $ 12,861,887 Liabilities Accounts payable $ 10,001 $ 1,076 $ - $ 11,077 Assessments refundable - 14,082-14,082 Deferred revenue 87,480 3,527,844-3,615,324 Total Liabilities 97,481 3,543,002-3,640,483 Fund Balances Reserved for debt service 7,715,918 1,142,648 362,838 9,221,404 Total Liabilities/Fund Balances $ 7,813,399 $ 4,685,650 $ 362,838 $ 12,861,887 120
NONMAJOR DEBT SERVICE FUNDS COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES Special Assessment TMFPD Debt Service Debt Service Debt Service Fund Fund Fund Total Revenues Taxes: Ad valorem $ 8,022,033 $ - $ - $ 8,022,033 Special assessments - 372,294-372,294 Intergovernmental revenues 459,444 - - 459,444 Fines and forfeits - 16,186-16,186 Miscellaneous 19,461 249,908-269,369 Total Revenues 8,500,938 638,388-9,139,326 General Government: Services and supplies - 35,067-35,067 Debt Service: Ad Valorem Supported Debt: Principal 4,350,000 - - 4,350,000 Interest 3,376,630 - - 3,376,630 Debt service fees 4,871 - - 4,871 Total Ad Valorem Supported Debt 7,731,501 - - 7,731,501 Non-Ad Valorem Supported Debt: Principal 11,552,326-145,000 11,697,326 Interest 6,641,961-18,848 6,660,809 Debt service fees 16,162-100 16,262 Total Non-Ad Valorem Supported Debt 18,210,449-163,948 18,374,397 Special Assessment Bonds: Principal - 460,650-460,650 Interest - 133,448-133,448 Debt service fees - 4,523-4,523 Assessment refunds - 20,960-20,960 Total Special Assessment Bonds - 619,581-619,581 Total 25,941,950 654,648 163,948 26,760,546 Over (Under) (17,441,012) (16,260) (163,948) (17,621,220) Transfers in 17,536,878 7,523 294,289 17,838,690 Transfers out (3,483,921) - - (3,483,921) Total 14,052,957 7,523 294,289 14,354,769 Net Change in Fund Balances (3,388,055) (8,737) 130,341 (3,266,451) Fund Balance, July 1 11,103,973 1,151,385 232,497 12,487,855 Fund Balance, June 30 $ 7,715,918 $ 1,142,648 $ 362,838 $ 9,221,404 121
DEBT SERVICE FUND Revenues Taxes: Ad valorem $ 7,777,574 $ 8,022,033 $ 244,459 $ 8,626,253 Intergovernmental Revenues: TRWQSA bond payments 459,444 459,444-459,444 Miscellaneous: Investment earnings 20,000 19,361 (639) 122,361 Other - 100 100 200 Total Revenues 8,257,018 8,500,938 243,920 9,208,258 Ad Valorem Supported Debt: General Obligation Bonds: Principal 4,350,000 4,350,000-4,175,000 Interest 3,376,630 3,376,630-3,567,411 Debt service fees 8,395 4,871 3,524 7,755 Total Ad Valorem Supported Debt 7,735,025 7,731,501 3,524 7,750,166 Non-Ad Valorem Supported Debt: Revenue Bonds: Principal 475,000 476,000 (1,000) 1,454,000 Interest 940,760 940,772 (12) 986,576 Debt service fees 500 500-751 1,416,260 1,417,272 (1,012) 2,441,327 Medium-Term Financing: Principal 10,065,353 9,199,581 865,772 7,284,601 Interest 6,399,709 5,226,723 1,172,986 3,933,045 Debt service fees 19,807 13,662 6,145 4,746 16,484,869 14,439,966 2,044,903 11,222,392 Capital Leases/Notes: Principal 1,876,745 1,876,745-1,795,778 Interest 474,466 474,466-564,309 Debt service fees 2,000 2,000-2,000 2,353,211 2,353,211-2,362,087 Total Non-Ad Valorem Supported Debt 20,254,340 18,210,449 2,043,891 16,025,806 Total 27,989,365 25,941,950 2,047,415 23,775,972 Over (Under) (19,732,347) (17,441,012) 2,291,335 (14,567,714) (CONTINUED) 122
DEBT SERVICE FUND Transfers: General Fund $ 9,292,560 $ 7,072,694 $ (2,219,866) $ 6,361,460 Library Expansion Fund 787,701 787,746 45 786,636 Animal Services Fund 569,195 569,195-566,007 Administrative Assessment Fund 146,500 154,311 7,811 78,384 Truckee River Flood Management Infrastructure Fund 4,427,775 4,604,309 176,534 3,717,949 Child Protective Services Fund 400,000 400,000 - - Capital Facilities Fund 4,005,469 3,947,576 (57,893) 2,897,293 Baseball Stadium Fund 35 1,047 1,012 1,025,786 Truckee River Flood Management Infrastructure Fund - (3,483,921) (3,483,921) - Total 19,629,235 14,052,957 (5,576,278) 15,433,515 Net Change in Fund Balances (103,112) (3,388,055) (3,284,943) 865,801 Fund Balance, July 1 11,001,484 11,103,973 102,489 10,238,172 Fund Balance, June 30 $ 10,898,372 $ 7,715,918 $ (3,182,454) $ 11,103,973 123
SPECIAL ASSESSMENT DEBT SERVICE FUND Revenues Taxes: Special assessments $ 445,132 $ 372,294 $ (72,838) $ 420,701 Fines and Forfeits: Forfeits - 16,186 16,186 55,196 Miscellaneous: Investment earnings 35,000 41,175 6,175 76,526 Net increase (decrease) in the fair value of investments - 20,792 20,792 (36,556) Assessment interest 176,727 166,732 (9,995) 186,683 Penalties 16,500 21,209 4,709 23,743 Other - - - 3,240 Total Revenues 673,359 638,388 (34,971) 729,533 General Government Function: Services and supplies 29,200 35,067 (5,867) 74,655 Debt Service: Special Assessment Bonds: Principal 329,927 460,650 (130,723) 505,746 Interest 138,328 133,448 4,880 150,091 Arbitrage - - - 47,142 Debt service fees 2,085 4,523 (2,438) 4,573 Assessment refunds - 20,960 (20,960) 4,774 Total Special Assessment Debt 470,340 619,581 (149,241) 712,326 Total 499,540 654,648 (155,108) 786,981 Over (Under) 173,819 (16,260) (190,079) (57,448) Transfers: General Fund - - - (1,448,985) SAD Projects Fund - 7,523 7,523 40,561 Total - 7,523 7,523 (1,408,424) Net Change in Fund Balances 173,819 (8,737) (182,556) (1,465,872) Fund Balance, July 1 1,194,498 1,151,385 (43,113) 2,617,257 Fund Balance, June 30 $ 1,368,317 $ 1,142,648 $ (225,669) $ 1,151,385 124
TRUCKEE MEADOWS FIRE PROTECTION DISTRICT DEBT SERVICE FUND Non-Ad Valorem Supported Debt: General Obligation Bonds: Principal $ 145,000 $ 145,000 $ - $ 135,000 Interest 20,562 18,848 1,714 25,947 Debt service fees - 100 (100) 200 Total 165,562 163,948 1,614 161,147 Over (Under) (165,562) (163,948) 1,614 (161,147) Transfers: TMFPD General Fund 294,289 294,289-374,279 Net Change in Fund Balances 128,727 130,341 1,614 213,132 Fund Balance, July 1 232,108 232,497 389 19,365 Fund Balance, June 30 $ 360,835 $ 362,838 $ 2,003 $ 232,497 125