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CITY OF LA PORTE, TEXAS
<br /> Debt Service Fund
<br /> Schedule of Revenues, Expenditures and Changes in Fund Balances
<br /> Budget and Actual
<br /> For The Year Ended September 30, 2010
<br /> Variance with
<br /> Final Budget
<br /> Budgeted Amounts Actual Positive
<br /> Original Final Amounts (Negative)
<br /> REVENUES
<br /> Property taxes $ 2,173,774 $ 2,173,774 $ 2,560,023 $ 386,249
<br /> Interest 23,200 23,200 28,484 5,284
<br /> Total revenues 2,196,974 2,196,974 2,588,506 391,532
<br /> EXPENDITURES
<br /> Debt service:
<br /> Principal 1,990,000 1,990,000 1,755,000 235,000
<br /> Interest 2,086,755 2,086,755 1,451,033 635,722
<br /> Total expenditures 4,076,755 4,076,755 3,206,033 870,722
<br /> Excess (deficiency) of revenues over
<br /> expenditures (1,879,781) (1,879,781) (617,527) 1,262,254
<br /> OTHER FINANCING SOURCES (USES)
<br /> Issuance of debt - - 4,295,000 (4,295,000)
<br /> Premium on bonds - - 100,338 (100,338)
<br /> Payment to escrow agent - - (4,409,763) 4,409,763
<br /> Transfers in 1,892,298 1,892,298 1,598,155 294,143
<br /> Total other financing sources (uses) 1,892,298 1,892,298 1,583,730 308,568
<br /> Net change in fund balances 12,517 12,517 966,203 953,686
<br /> Fund balances— beginning 2,151,483 2,151,483 2,151,483 -
<br /> Fund balances— ending $ 2,164,000 $ 2,164,000 $ 3,117,686 $ 953,686
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