Commissioners Court Meeting
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Meeting Date:
11/14/2016
Debt Service Fund
Submitted for:
Rafael Perez
Submitted By:
Lizette Torres
Department:
Auditor
Subject:
Discussion and possible action to amend the 2017 budget for the Debt Service Fund to record the $1,054,467 savings and create a new debt service payment requirement for the refunded Debt, Certificates of Obligation Series 2016, and the Limited Tax Refunding Series 2016A and 2016B sources and uses.
Issue:
The Debt Service payment requirements are overstated compared to the fund balance and revenues estimated for 2017 fiscal year.
Sloution:
Incorporate the revised debt service payment requirement in the 2017 adopted budget.
Result
: The amendment will reflect a balanced budget for budgetary and financial reporting that will agree to the debt service payment requirement for 2017 fiscal year.
Background:
n/a
Previous Court Action:
Fiscal Impact
Budget Account Number:
n/a
Funding Source:
n/a
Balance:
n/a
Financial Impact:
N/A
Attachments
Debt Service
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