FY2018 Recommended Budget

Debt

BUDGET NOTES

Cost Value

New Initiatives & Priorities

McCrimmon Parkway Phase I additional Debt McCrimmon Parkway Phase II Partial Debt Morrisville-Carpenter Road Improvements Partial Debt

666,900 70,000 225,000 $962,000

Total

2015

2016

2017

2018

Actuals

Actuals

Estimated

Proposed

DEBT SERVICE Debt Service

$ 1,716,606

$ 1,458,075 $ 1,602,020 $ 2,524,300

Year Over Year % Change Total

13.2%

-15.1%

10%

58%

Year Over Year $s Change Total $ 199,905

$ (258,531) $ 143,945 $ 922,280

DEBT IMPACT ANALYSIS

Debt Service Items

2015

2016

2017

2018

2019

2020

2021

2022

status

terms

GO Bond 2004 - Park Improvements Church St. Park Refunding Bond 2004 Street Improvements MSV-CRP/Jerimiah

continues to 2034 20 Years/split

$

293,600

$

289,600

$

285,600

$

281,600

$

277,600

$

273,600

$

269,600

$

265,600

retired

$

67,275

$

-

$

-

Fire Trucks

retired

$

40,651

GO Bonds 2007 - PSMS Bldg - Refunding Series B 2016

refunding 2016, continues to 2027

10 Years

$

727,743

$

708,300

$

688,900

$

659,600

$

596,800

$

580,800

$

564,600

$

544,000

Fire Station One 2011

continues to 2021 10 Years/split

$

313,552

$

306,700

$

299,620

$

292,700

$

285,700

$

278,700

$

137,800

$

-

Public Safety Radio Replacements

continues to 2022 7 Years/split

$

76,726

$

153,500

153,500

$

153,500

$

153,500

$

153,500

$

153,300

$

76,800

Land Purchase 2008 Downtown

retired

$

197,060

GO Bond 2012 - Street Improvements McCrimmon Parkway Extension Ph I

continues to 2035 20 Years/split

$

-

$

-

$

175,000

$

841,900

$

817,000

$

792,000

$

775,000

$

745,000

Current Debt

1,716,607 $

1,458,100 $

1,602,620 $

2,229,300 $

2,130,600 $

2,078,600 $

1,900,300 $

1,631,400 $

GO Bond 2012 - Park Improvements MAFC Renovation GO Bond 2012 - Street Improvements McCrimmon Parkway Extension Ph II

continues to 2038

20 Years

$

-

$

-

$

-

$

-

$

90,000

$

457,000

$

452,000

$

445,500

continues to 2037

20 Years

$

-

$

-

$

70,000

$

345,000

$

341,000

$

337,000

$

332,000

Morrisville-Carpenter Road Project

continues to 2025

7 Years

$

-

$

-

$

225,000

$

447,000

$

447,000

$

447,000

$

447,300

Total Debt Service

1,716,607 $

1,458,100 $

1,602,620 $

2,524,300 $

3,012,600 $

3,323,600 $

3,136,300 $

2,856,200 $

Debt Ratio

0.00% 2.00% 4.00% 6.00% 8.00% 10.00% 12.00% 14.00% 16.00% 18.00% 20.00%

11%

Debt Service as % of expenditures - Policy 15% or less

10%

10%

9%

8%

7%

6% 6%

Debt Service Policy 15% or Less

2015 2016 2017 2018 2019 2020 2021 2022

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