FY 23 Approved Budget Book

BUSINESS PLAN DEBT BURDEN ANALYSIS Fiscal Years 2021-2028

Original Budget

Approved Budget

Actual

Projection

Projection

Projection

Projection

Projection

2021

2022

2023

2024

2025

2026

2027

2028

General Obligation Outstanding July 1

448,291,779 52,215,000 39,939,223

460,567,556 72,500,000 39,976,165

493,091,391 40,000,000 40,392,104

492,699,287 40,000,000 41,671,431

491,027,856 50,000,000 43,345,746

497,682,110 50,000,000 44,861,037

502,821,073 50,000,000 47,361,037

505,460,036 50,000,000 49,861,037

Additions

Less Principal Repayments & Reductions General Obligation Outstanding June 30

$460,567,556 $493,091,391 $492,699,287 $491,027,856 $497,682,110 $502,821,073 $505,460,036 $505,598,999

Population (4)

260,256

262,858

265,487

268,142

270,823

273,531

276,267

279,029

Per Capita Income

64,085

64,085

64,085

64,726

65,373

66,027

66,687

67,354

Taxable Property Value (5) Taxable Assessed Valuation (000 omitted)

$30,272,830 $30,904,160 $31,522,243 $32,152,688 $32,795,742 $33,451,657 $34,120,690 $34,803,104

Debt Ratios General Obligation Debt Service as % of Expenditures

8.4 %

8.6 %

7.9 %

6.2 %

6.2 %

6.2 %

6.5 %

6.8 %

General Obligation Debt Per Capita

$1,770

$1,876

$1,856

$1,831

$1,838

$1,838

$1,830

$1,812

General Obligation Debt as % of Assessed Valuation General Obligation Debt Per Capita Debt Level

1.5 %

1.6 %

1.6 %

1.5 %

1.5 %

1.5 %

1.5 %

1.5 %

2.76 % 2.93 % 2.90 % 2.83 % 2.81 % 2.78 % 2.74 % 2.69 %

Policy Ratios General Obligation Debt Service as % of Expenditures

10.0 % 10.0 % 10.0 % 10.0 % 10.0 % 10.0 % 10.0 % 10.0 %

General Obligation Debt Per Capita

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

$2,500

General Obligation Debt as % of Assessed Valuation General Obligation Debt Per Capita Debt Level

2.3 % 10 %

2.3 % 10 %

2.3 % 10 %

2.3 % 10 %

2.3 % 10 %

2.3 % 10 %

2.3 % 10 %

2.3 % 10 %

(1) Growth for departments is 3% for all years beyond that. (2) These expenditures include General & Highway Funds only. (3) Includes principal and interest (4) Estimated at the compound annual growth rate of 1% for future periods (5) Estimated at the compound annual growth rate of 2% for all years beyond that.

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