Sarasota County Comprehensive Annual Financial Report 2020

Sarasota County, Florida Schedule of Revenues, Expenditures and Changes in Fund Balances - Budget and Actual Bank Term Loans Debt Service Fund For the Year Ended September 30, 2020 Budgeted Amounts Actual Amounts Variance with Original Final GAAP Basis Final Budget REVENUES Taxes $ 7,796,916 $ 7,811,100 $ 7,905,547 $ 94,447 Interest income - - 114,125 114,125 Net inc (dec) in fair value of investments - - (33,150) (33,150) Total revenues 7,796,916 7,811,100 7,986,522 175,422 EXPENDITURES Debt service: Principal 16,917,000 13,465,000 13,465,000 - Interest and fiscal charges 3,732,924 3,170,605 3,043,245 127,360 Debt issuance costs 84,000 42,527 40,500 2,027 Total expenditures 20,733,924 16,678,132 16,548,745 129,387 Excess (deficiency) of revenues over (under) expenditures (12,937,008) (8,867,032) (8,562,223) 304,809 OTHER FINANCING SOURCES (USES) Transfers in 13,171,008 8,867,032 8,867,032 - Total other financing sources (uses) 13,171,008 8,867,032 8,867,032 - Net change in fund balances Fund balances - beginning Fund balances - ending $ 234,000 1,556,359 1,790,359 $ - 1,556,359 1,556,359 $ 304,809 1,556,359 1,861,168 $ 304,809 - 304,809 213