New Search
DEBT SERVICE FUNDS <br />None of the City's debt service funds meet the criteria for major fund reporting. Therefore, the combining statements <br />for all individual debt service funds are reported here. The combined totals are reported in the combining nonmajor <br />governmental fund statements at B-7 and B-2. <br />Schedules of revenues, expenditures, and changes in fund balance -budget and actual are also presented here for each <br />individual debt service fund. <br />Nonmajor Debt Service Funds• <br />General Obligation Debt Service Fund - To account for the accumulation of resources for, and the payment of, <br />general obligation indebtedness of the City, excluding debt accounted for as proprietary fund or special assess- <br />ment debt. The debt service is financed through property taxes and interest income. <br />Library Debt Service Fund - To account for debt service to construct a new library. The debt service is financed <br />through tax increment revenues from the Urban Renewal Agency Debt Service Fund. <br />Special Assessment Bond Debt Service Fund - To account for special assessment receivables and the servic- <br />ing of the related bonded debt. The debt service is financed through special assessment principal and interest <br />collections and interest income. <br />,~} <br />Urban Renewal Agency Debt Service Fund - To account for the accumulation of tax increment resources and <br />payment of the library certificates of participation. <br />Urban Renewal Agency Riverfront Debt Service Fund - To account for the proceeds of debt issued to pay for <br />the construction of a new parking structure. This fund closed in FY08. <br />