2009-10 Adopted Budget - City of Hoquiam

FUND NUMBER: 401-26DESCRIPTION: Sewer Utility Debt ServiceProgram Description:CITY OF HOQUIAM2009-2010 BudgetDEBT SERVICE FUNDSThis program provides for the repayment of a $70,000 1998 Community Economic Revitalization Board loan that financed anextension of the sewer system along 5th Street.This loan constitutes a limited revenue obligation of the City, and is financed solely from sewer utility revenues.Debt repayment continues at 4% through 2020.REVENUES:2003 2004 2005 2006 2007 2008 2009 2010 2011Acutal Actual Actual Actual Actual Forecast Budget Budget ProjectedBeginning Balance: $0 $0 $0 $0 $0 $0 $0 $0 $0Sewer Utility Revenue $0 $0 $0 $16,800 $7,800 $7,600 $7,400 $7,200 $7,000Total Revenues: $0 $0 $0 $16,800 $7,800 $7,600 $7,400 $7,200 $7,000Total Resources: $0 $0 $0 $16,800 $7,800 $7,600 $7,400 $7,200 $7,000EXPENDITURES:Principal $0 $0 $0 $0 $5,000 $5,000 $5,000 $5,000 $5,000Interest $0 $0 $0 $16,800 $2,800 $2,600 $2,400 $2,200 $2,000Total Expenditures $0 $0 $0 $16,800 $7,800 $7,600 $7,400 $7,200 $7,000ENDING BALANCE: $0 $0 $0 $0 $0 $0 $0 $0 $0Remaining Debt Service Schedule1988 Public Works Trust Fund LoanPrevious Principal Interest Total BalanceYears: $0 $16,800 $16,800 $70,0002007 $5,000 $2,800 $7,800 $65,0002008 $5,000 $2,600 $7,600 $60,0002009 $5,000 $2,400 $7,400 $55,0002010 $5,000 $2,200 $7,200 $50,0002011 $5,000 $2,000 $7,000 $45,0002012 $5,000 $1,800 $6,800 $40,0002013 $5,000 $1,600 $6,600 $35,0002014 $5,000 $1,400 $6,400 $30,0002015 $5,000 $1,200 $6,200 $25,0002016 $5,000 $1,000 $6,000 $20,0002017 $5,000 $800 $5,800 $15,0002018 $5,000 $600 $5,600 $10,0002019 $5,000 $400 $5,400 $5,0002020 $5,000 $200 $5,200 $0Total: $70,000 $37,800 $107,800233