FY2025 adopted budget book — official finance index

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Bond Series
Scheduled
Payments General Fund TAD Fund SPLOST Reserves Total Funding
2005 Series 3,233,500 3,233,500 3,233,500
2016 Series SG1 800,504 700,504 100,000 800,504
2019 Series2 326,118 2,212,000 2,212,000
2021 Series3
3,898,450 1,635,858 2,262,592 3,898,450
TOTAL 8,258,572 5,569,862 2,212,000 2,262,592 100,000 10,144,454
NOTES
As summarized by the table below, staff recommends funding from cash reserves a portion of the FY 2025 payments owed for the
2016 Series (Smyrna Grove). As of June 30, 2024, there will be approximately $920K set aside for future debt obligations, so using
$100K of this toward the FY 2025 payments will reduce the reserves for future debt obligations to $820K.
Recommended FY 2025 Funding for General Fund Bond Obligations
Funding Source
1. The 2016 Series Smyrna Grove bonds are a refinancing of the 2014 Series bonds.
2. The 2019 Series is being amortized by the tax increment from redevelopment within the Tax Allocation District. Since the
contributions from the Smyrna tax increment and the Cobb County tax increment are expected to exceed the scheduled payments,
the additional revenues will be applied as an additional principal payment.
3. The 2021 Series principal payments are shared between the General Fund and 2022 SPLOST revenues. Percentages are based on
a cost allocation formula. All interest payments are made by the General Fund.
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