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Bond Funds

The purpose of the bond funds is to account for the financial resources segregated for the acquisition or

construction of major capital facilities. The budgets within these funds are adopted for the life of the project, with

revenues and expenditures accumulating until the year in which the project is completed.

The bond funds are substantially identical in nature to the capital project funds. The main difference between the

funds is the primary revenue source. Funding for capital projects, using bond funds, comes primarily from the

issuance of long-term debt.

These funds are accounted for separately from the capital project funds to avoid double-counting the debt costs.

The cost of the City’s long-term debt is captured in the capital debt service funds as the debt is paid rather than in

the bond funds as the debt is issued.

ADOPTED

ADOPTED

CHANGE

2015-16

2016-17

FY16 To 17

WATER REVENUE BOND FUND (348)

$9,667,000

$660,000

(93.2%)

SEWER REVENUE BOND FUND (349)

$32,052,000

$5,050,000

(84.2%)

CAPITAL PROJECTS BOND FUND (506)

$0

$8,528,000

STREET BOND FUND (531)

$23,950,000

$13,732,000

(42.7%)

PARK BOND FUND (636)

$18,150,000

$19,375,000

6.7%

PERFORMING ARTS CENTER BOND FUND (646)

$1,437,000

$2,625,000

82.7%

HOUSING BOND FUNDS (720-725)

$1,648,000

$2,500,000

51.7%

TOTAL BOND FUNDS

$86,904,000

$52,470,000

(39.6%)

B-15