Complete Document - City of Auburn

City of AuburnDescription of and Trends in Debt Service FundsDescription of Debt Service FundsDebt service funds are funds used to account for the payment of principal and interest onlong-term debt. Debt Service revenues are from taxes and other operating revenues, someof which are pledged specifically to repay certain outstanding bond issues. The City ofAuburn budgets for the following debt service funds:Special 5-Mill Tax Fund accounts for revenues received from five mills of ad valorem taxdedicated to the payment of principal and interest on bonds approved by the Citizens ofAuburn in a special election.General Obligation Refunding Street Improvement Warrants (GORSIW) Series 76 Fundaccounts for payments of principal and interest on G.O. refunding street improvementwarrants issued August 3, 1976.94 Warrant Fund accounts for payments of principal and interest on G.O. school capitalimprovement warrants issued on May 1, 1994.$5,000,000$4,500,000$4,000,000$3,500,000$3,000,000$2,500,000$2,000,000$1,500,000$1,000,000$500,000$-FY 04* FY 03* FY 02^ FY 01** FY 00**Beginning Fund Balances Revenues & OFS Expenditures & OFU Ending Fund Balances* Budgeted amounts^ Actual amounts, unaudited**Audited253