FY 2026 Budget Book

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Bond Series
Scheduled
Payments General Fund TAD Fund SPLOST Reserves Total Funding
2005 Series 3,235,163 3,235,163 3,235,163
2016 Series SG1 766,182 666,182 100,000 766,182
2019 Series2 322,468 2,426,000 2,426,000
2021 Series3 3,896,700 1,522,283 2,374,417 3,896,700
2024 Series 855,222 855,222 855,222
2025 Series 412,120 212,120 200,000 412,120
TOTAL 9,487,853 6,490,970 2,426,000 2,374,417 300,000 11,591,387
NOTES
As summarized by the table below, staff recommends funding from cash reserves a portion of the FY 2026 payments owed for the
2016 Series (Smyrna Grove) and 2025 Series. As of June 30, 2025, there will be approximately $820K set aside for future debt
obligations, so using $300K of this toward the FY 2026 payments will reduce the reserves for future debt obligations to $520K.
Recommended FY 2026 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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