Assessment #1 Fund• Debt Service

CITY OF BEA YERTON, OREGON FISCAL YEAR 2021-22 BUDGET

ASSESSMENT FUND #1 SUMMARY OF REVENUES AND EXPENDITURES

AND OTHER FINANCING SOURCES & USES

Revenues:

Interest on investments

Special Assessments (P&I)

Miscellaneous Sub Total Revenues

Expenditures:

Materials & services

Sub Total Expenditures

Revenues Over/Under Expenditures

Other financing sources (uses):

Transfers in

Transfers out

Total Other Financing Sources

(Uses):

Net Change in Fund Balance

Fund Balance/Working Capital

Beginning of Year

Fund Balance (Contingency)/Working

Capital End of Year

FY 2018-19

Actual

$0 4,908

740

$5,648

$0

$5,648

$0

(5,648)

($5,648)

$0

0

$0

FY 2019-20

Actual

$0 1,829

67 $1,896

$0

$1,896

$0

(1 ,896)

($1,896)

$0

0

$0

FY 2020-21

Budgeted

$0 1,300

785

$2,085

$0

$2,085

$0

{2,085)

($2,085)

$0

0

$0

FY 2020-21

Estimated

$0 1,300

635

$1,935

$0

$1,935

$0 (1,935)

($1,935)

$0

0

$0

FY 2021-22

Adopted

$0 1,025

650 $1,675

$0

$1,675

$0 {1,675)

($1,675)

$0

0

$0

This fund accounts for special assessment activities; revenue from property owners for assessment payments (principal and interest) and expenses for payment of bond principal and interest.

399

I FUND: 401 ASSESSMENT #1

MISSION STATEMENT:

CITY OF BEAVERTON, OREGON FISCAL YEAR2021-22 BUDGET

DEPARTMENT: FINANCE

DEPARTMENT HEAD: PATRICK O'CLAIRE

Management of assessment districts debt service requirements.

FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 REQUIREMENTS ACTUAL ACTUAL BUDGETED PROPOSED

TRANSFERS $5,648 $1,896 $2,085 $1,675 CONTINGENCY

TOTAL $5,648 $1,896 $2,085 $1,675

Funding Sources: FY 2018-19 FY 2019-20 FY 2020-21 FY 2021-22 Beginning Working Capital $0 $0 $0 $0 Miscellaneous Revenue 740 67 785 650 Assessment Principal 4,908 1,829 1,300 1,025

FY 2021-22 ADOPTED

$1,675

$1,675

FY 2021-22 $0

650 1,025

The Assessment Debt Service Fund accounts for the financing and collection of assessments from benefited property owners and the payment of principal and interest on improvement bonds. The primary source of funds are principal collections and interest earning on local improvement districts.

Remaining balances have been or will be transferred to appropriate funds as all projects are closed. There are small assessment payments that continue to be received each year.

From time to time, members of the staff discuss the formation of local improvement districts (LID) crafted to respond to infrastructure issues in an area and the respective benefits. If additional LIDs are formed they will be reflected in this fund.

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