HomeMy WebLinkAboutH Debt ServiceOTHER GOVERNMENTAL FUNDS – DEBT SERVICE FUND
City Highlands Undergrounding Fund – This fund is used to account for the resources and payment for
debt related to Highlands Undergrounding.
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CITY OF PALM DESERT
BALANCE SHEET
OTHER DEBT SERVICE FUND
JUNE 30, 2018
ASSETS:
Pooled cash and investments 199,777$ 199,777$
Receivables:
Assessments 1,227,632 1,227,632
Due from other governments 4,627 4,627
TOTAL ASSETS 1,432,036$ 1,432,036$
LIABILITIES, DEFERRED INFLOWS OF RESOURCES
AND FUND BALANCES:
LIABILITIES:
Accounts payable 3,510$ 3,510$
Deposits payable 109,526 109,526
TOTAL LIABILITIES 113,036 113,036
DEFERRED INFLOWS OF RESOURCES:
Unavailable revenues 1,227,632 1,227,632
TOTAL DEFERRED INFLOWS OF RESOURCES 1,227,632 1,227,632
FUND BALANCES:
Restricted for:
Debt service 91,368 91,368
TOTAL FUND BALANCES 91,368 91,368
TOTAL LIABILITIES, DEFERRED INFLOWS
OF RESOURCES AND FUND BALANCES 1,432,036$ 1,432,036$
Total Other Debt
Service Fund
City Highland
Undergrounding
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CITY OF PALM DESERT
STATEMENT OF REVENUES,
EXPENDITURES AND CHANGES IN FUND BALANCES
OTHER DEBT SERVICE FUND
YEAR ENDED JUNE 30, 2018
Total Other
Debt Service
Fund
REVENUES:
Special assessments collected 135,269$ 135,269$
Investment earnings 1,967 1,967
TOTAL REVENUES 137,236 137,236
EXPENDITURES:
Current:
General government 22,604 22,604
Debt service:
Principal retirement 42,000 42,000
Interest and fiscal charges 70,991 70,991
TOTAL EXPENDITURES 135,595 135,595
EXCESS OF REVENUES OVER
(UNDER) EXPENDITURES 1,641 1,641
FUND BALANCES - BEGINNING OF YEAR 89,727 89,727
FUND BALANCES - END OF YEAR 91,368$ 91,368$
City
Highlands
Undergrounding
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CITY OF PALM DESERT
BUDGETARY COMPARISON SCHEDULE
CITY HIGHLAND UNDERGROUNDING
YEAR ENDED JUNE 30, 2018
Variance with
Final Budget
Budget Amounts Actual Positive
Original Final Amounts (Negative)
Budgetary Fund Balance, July 1 89,727$ 89,727$ 89,727$ -$
Resources (Inflows):
Assessments 133,991 133,991 135,269 1,278
Investment earnings 200 200 1,967 1,767
Amounts Available for Appropriations 223,918 223,918 226,963 3,045
Charges to Appropriation (Outflow):
General government 21,000 22,700 22,604 96
Debt service:
Principal retirement 42,000 42,000 42,000 -
Interest and fiscal charges 70,991 70,991 70,991 -
Total Charges to Appropriations 133,991 135,691 135,595 96
Budgetary Fund Balance, June 30 89,927$ 88,227$ 91,368$ 3,141$
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