CITY OF HOUSTON, TEXAS
DEBT SERVICE FUND
Statement of Revenues, Expenditures and Changes in Fund Balances
Year ended June 30, 1998
(With comparative amounts for 1997)
amounts expressed in thousands
                       
                       
                  Variance    
          1998   Favorable   1997
Revenues         Budget   Actual   (Unfavorable)   Actual
  Contributions from annexed districts       $ -   $ -   $ -   $ 14,007
  Interest       3,494   4,738   1,244   3,943
  Other       207   2,855   2,648   1,135
    Total revenues     3,701   7,593   3,892   19,085
                       
Expenditures                      
  Debt Service                    
    Principal     97,941   91,940   6,001   100,725
    Interest     91,788   82,763   9,025   80,539
    Fiscal agent and other fees     4,200   4,197   3   1,019
    Total expenditures     193,929   178,900   15,029   182,283
                       
      Excess (deficiency) of revenues over expenditures   (190,228)   (171,307)   18,921   (163,198)
                       
Other financing sources (uses)                      
  Proceeds from bond issuance       -   245,650   245,650   -
  Proceeds from bond issuance - HUD 108 loan       -   1,050   1,050   -
  Transfers to fiscal agents       -   (243,792)   (243,792)   -
  Operating transfers in       169,319   170,354   1,035   157,072
    Total other financing sources (uses)     169,319   173,262   3,943   157,072
                       
  Excess (deficiency) of revenues and other financing                    
  sources over expenditures       (20,909)   1,955   22,864   (6,126)
Fund balances, July 1         82,837   82,837   -   88,963
                       
Fund balances, June 30         $ 61,928   $ 84,792   $ 22,864   $ 82,837
                       
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