2013â2014 BIENNIAL BUDGET - the City of Tukwila
2013â2014 BIENNIAL BUDGET - the City of Tukwila 2013â2014 BIENNIAL BUDGET - the City of Tukwila
2013–2014 Biennial Budget City of Tukwila, WashingtonBudget ChangesDEBT SERVICE SUMMARYNon-discretionary budget changes for Debt Service Funds include appropriation changes for bondprincipal and interest payments per the debt service schedules. Bond issues are planned for the LocalImprovement District, LID #33. Other changes include the payoff in 2013 of the golf course portion ofthe 2003 bond issue.RevenueBacked2012 Budget Non DiscretionaryDiscretionaryInitiativesTransfers2013BudgetRevenueBackedNon DiscretionaryDiscretionaryInitiativesTransfers2014Budget10-Salaries $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -20-Benefits - - - - - - - - - - - - -30-Supplies - - - - - - - - - - - - -40-Prof Serv - - - - - - - - - - - - -70-Principal $ 2,052,907 $ 808,093 $ 2,665,000 $ - $ - $ - $ 5,526,000 $ (2,735,000) $ - $ - $ - $ - $ 2,791,00080-Interest 1,249,003 115,028 - - - - 1,364,031 (213,836) - - - - 1,150,195Other 46,664 - (46,664) - - - - - - - - - -Total $ 3,348,574 $ 923,121 $ 2,618,336 $ - $ - $ - $ 6,890,031 $ (2,948,836) $ - $ - $ - $ - $ 3,941,195SCHEDULE OF BUDGETED GENERAL OBLIGATION LONG-TERM DEBTFund 209 Fund 210 Fund 211 Fund 212 Fund 214 Fund 216 Fund 217 Fund 233LTGO Bonds,2003LTGORefundingBonds, 2003LTGORefundingBonds, 2008LTGO Bonds,2009, SCORELTGOBonds, 2010LTGO Bonds,2010,ValleyCommLTGORefundingBonds, 2011LTGO Bonds,2013, L.I.DTotal GO Debt2013 3,379,788 490,500 737,000 430,157 584,075 240,880 167,975 859,000 6,889,374 *2014 - 488,250 812,000 429,815 583,425 229,280 547,675 848,400 3,938,844 *2015 - - 811,300 428,183 585,650 228,800 545,825 837,000 3,436,7572016 - - 811,100 427,960 585,450 - 548,675 825,300 3,198,4852017 - - 809,900 427,461 581,190 - 552,300 813,000 3,183,8512018 - - 809,100 428,288 575,152 - 549,250 799,200 3,160,9902019 - - 810,900 427,973 567,307 - 548,700 783,900 3,138,7802020 - - - 427,869 558,182 - 545,300 767,100 2,298,4512021 - - - 426,239 552,520 - 546,300 748,800 2,273,8582022 - - - 427,532 543,175 - 551,500 729,300 2,251,5062023 - - - 427,379 533,018 - 545,900 709,200 2,215,4972024 - - - 426,885 527,050 - - 688,200 1,642,1352025 - - - 426,356 - - - 666,900 1,093,2562026 - - - 426,130 - - - 645,000 1,071,1302027 - - - 425,896 - - - 622,800 1,048,6962028 - - - 425,636 - - - - 425,6362029 - - - 425,335 - - - - 425,3352030 - - - 424,791 - - - - 424,7912031 - - - 424,762 - - - - 424,7622032 - - - 424,201 - - - - 424,2012033 - - - 423,889 - - - - 423,8892034 - - - 423,792 - - - - 423,7922035 - - - 423,485 - - - - 423,4852036 - - - 422,950 - - - - 422,9502037 - - - 422,561 - - - - 422,5612038 - - - 422,284 - - - - 422,2842039 - - - 422,085 - - - - 422,085Totals $ 3,379,788 $ 978,750 $ 5,601,300 $ 11,499,894 $ 6,776,191 $ 698,960 $ 5,649,400 $ 11,343,100 $ 45,927,382*Total existing GO Debt from the schedule above is below budgeted principal and interest payments, $657 under for 2013 and $2,351 under for2014. This is due to the inclusion of debt service registration costs in Debt Service Funds 212 & 214.Page 273
2013–2014 Biennial Budget City of Tukwila, WashingtonDEPARTMENT: N/ADIVISION: N/AFUND: Limited Tax, G.O. Bonds, 2003 FUND NUMBER: 209DescriptionThis fund provides payment to the Fiscal Agent for principal and interest payments required per debtservice schedule for bonds issued as payment to King County for Arterial Street projects including SouthPark Bridge transfer and for construction of a new golf course clubhouse. In December 2011, this fundassumed the Golf Course portion of this debt and the Arterial Street portion was refunded. The golfcourse portion of this debt is scheduled to be paid off in December 2013.Expenditure & Revenue SummaryG.O. Bonds 20032010 2011 2012 2013 2014 2012-13 2013-14Object Description ACTUAL ACTUAL BUDGET BUDGET BUDGET % change % change70 Principal $ 325,028 $ 337,774 $ 353,707 $ 3,240,000 $ - 816.01% -100.00%80 Interest 260,921 247,180 232,752 139,787 - -39.94% -100.00%00 Other - 6,690 6,891 - - -100.00% 0.00%EXPENDITURE TOTAL 585,949 591,644 593,350 3,379,787 - 469.61% -100.00%REVENUETransfer in 578,227 3,894,532 593,350 76,788 - -87.06% -100.00%Investment Interest 236 - 1,000 - - -100.00% 0.00%REVENUE TOTAL $ 578,463 $ 3,894,532 $ 594,350 $ 76,788 $ - -87.08% -100.00%FUND BALANCEChange in Fund Balance * (7,486) 3,302,888 1,000 (3,303,000) - -330399.95% -100.00%Beginning Fund Balance 7,639 153 3,302,960 3,303,000 1 0.00% -100.00%Ending Fund Balance 153 3,303,041 3,303,960 1 1 -100.00% 0.00%* Change in fund balance equals revenues over/(under) expendituresPage 274
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2013–2014 Biennial Budget <strong>City</strong> <strong>of</strong> <strong>Tukwila</strong>, WashingtonBudget ChangesDEBT SERVICE SUMMARYNon-discretionary budget changes for Debt Service Funds include appropriation changes for bondprincipal and interest payments per <strong>the</strong> debt service schedules. Bond issues are planned for <strong>the</strong> LocalImprovement District, LID #33. O<strong>the</strong>r changes include <strong>the</strong> pay<strong>of</strong>f in 2013 <strong>of</strong> <strong>the</strong> golf course portion <strong>of</strong><strong>the</strong> 2003 bond issue.RevenueBacked2012 Budget Non DiscretionaryDiscretionaryInitiativesTransfers2013BudgetRevenueBackedNon DiscretionaryDiscretionaryInitiativesTransfers2014Budget10-Salaries $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ -20-Benefits - - - - - - - - - - - - -30-Supplies - - - - - - - - - - - - -40-Pr<strong>of</strong> Serv - - - - - - - - - - - - -70-Principal $ 2,052,907 $ 808,093 $ 2,665,000 $ - $ - $ - $ 5,526,000 $ (2,735,000) $ - $ - $ - $ - $ 2,791,00080-Interest 1,249,003 115,028 - - - - 1,364,031 (213,836) - - - - 1,150,195O<strong>the</strong>r 46,664 - (46,664) - - - - - - - - - -Total $ 3,348,574 $ 923,121 $ 2,618,336 $ - $ - $ - $ 6,890,031 $ (2,948,836) $ - $ - $ - $ - $ 3,941,195SCHEDULE OF <strong>BUDGET</strong>ED GENERAL OBLIGATION LONG-TERM DEBTFund 209 Fund 210 Fund 211 Fund 212 Fund 214 Fund 216 Fund 217 Fund 233LTGO Bonds,2003LTGORefundingBonds, 2003LTGORefundingBonds, 2008LTGO Bonds,2009, SCORELTGOBonds, 2010LTGO Bonds,2010,ValleyCommLTGORefundingBonds, 2011LTGO Bonds,2013, L.I.DTotal GO Debt2013 3,379,788 490,500 737,000 430,157 584,075 240,880 167,975 859,000 6,889,374 *2014 - 488,250 812,000 429,815 583,425 229,280 547,675 848,400 3,938,844 *2015 - - 811,300 428,183 585,650 228,800 545,825 837,000 3,436,7572016 - - 811,100 427,960 585,450 - 548,675 825,300 3,198,4852017 - - 809,900 427,461 581,190 - 552,300 813,000 3,183,8512018 - - 809,100 428,288 575,152 - 549,250 799,200 3,160,9902019 - - 810,900 427,973 567,307 - 548,700 783,900 3,138,7802020 - - - 427,869 558,182 - 545,300 767,100 2,298,4512021 - - - 426,239 552,520 - 546,300 748,800 2,273,8582022 - - - 427,532 543,175 - 551,500 729,300 2,251,5062023 - - - 427,379 533,018 - 545,900 709,200 2,215,4972024 - - - 426,885 527,050 - - 688,200 1,642,1352025 - - - 426,356 - - - 666,900 1,093,2562026 - - - 426,130 - - - 645,000 1,071,1302027 - - - 425,896 - - - 622,800 1,048,6962028 - - - 425,636 - - - - 425,6362029 - - - 425,335 - - - - 425,3352030 - - - 424,791 - - - - 424,7912031 - - - 424,762 - - - - 424,7622032 - - - 424,201 - - - - 424,2012033 - - - 423,889 - - - - 423,8892034 - - - 423,792 - - - - 423,7922035 - - - 423,485 - - - - 423,4852036 - - - 422,950 - - - - 422,9502037 - - - 422,561 - - - - 422,5612038 - - - 422,284 - - - - 422,2842039 - - - 422,085 - - - - 422,085Totals $ 3,379,788 $ 978,750 $ 5,601,300 $ 11,499,894 $ 6,776,191 $ 698,960 $ 5,649,400 $ 11,343,100 $ 45,927,382*Total existing GO Debt from <strong>the</strong> schedule above is below budgeted principal and interest payments, $657 under for 2013 and $2,351 under for2014. This is due to <strong>the</strong> inclusion <strong>of</strong> debt service registration costs in Debt Service Funds 212 & 214.Page 273
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