FY2020 Budget

Debt

BUDGET NOTES

New Initiatives & Priorities

Cost Value

New Debt Service:

1,413,600

McCrimmon Parkway Extension Phase II

• • •

Morrisville-Carpenter Road

Morrisville Aquatics & Fitness Center

Total

$

2017 Actual

2018 Actual

2019 Estimated 2020 Proposed

Debt Service

$

6,681,242

$

2,187,380

$

2,130,414

$

3,492,200

Year Over Year % Change Total Year Over Year $s Change Total

358.2%

-67.3%

-2.6%

$

5,223,167

$

(4,493,862)

$

(56,966)

Note: FY17 shown above includes proceeds from Refunding Series.

Debt Service Items

2017

2018

2019

2020

2021

2022

2023

2024

status

GO Bond 2004 Park Improvements (RTP Ball Park) Series 2013 GO Bonds 2007 Public Improvements (PSMS BLDG) Refunding Series 2016B

continues to 2034

$

285,600

$

281,600

$

277,600

$

273,600

$

269,600

$

265,600

$

261,600

$

257,600

continues to 2027

$

649,816

$

617,800

$

596,800

$

580,800

$

564,600

$

544,000

$

526,600

$

509,800

Fire Station One 2011

continues to 2021

$

299,620

$

292,654

$

285,688

$

278,740

$

136,760

$

-

$

-

Public Safety Radio Replacements

continues to 2022

153,450

$

153,451

$

153,451

$

153,500

$

153,500

$

45,500

$

-

GO Bond 2012 Street Improvements McCrimmon Parkway Extension Ph I

continues to 2035

$

174,234

$

841,875

$

816,875

$

791,900

$

766,900

$

741,900

$

716,900

$

691,875

Current Debt

$

1,562,720

$

2,187,380

$

2,130,414

$

2,078,540

$

1,891,360

$

1,597,000

$

1,505,100

$

1,459,275

GO Bond 2012 Street/Public Improvements McCrimmon Parkway Extension Ph II/MAFC Series 2018A/B GO Bond 2018 2/3 Bond Morrisville-Carpenter Road Project Installment Financing Morrisville-Carpenter Road Project & MAFC

continues to 2038

$

-

$

-

$

-

$

868,700

$

730,800

$

721,175

$

945,300

$

918,300

continues to 2022

$

-

$

-

$

-

$

291,040

$

268,500

$

251,125

$

-

$

-

continues to 2038

$

-

$

-

$

-

$

253,920

$

253,630

$

248,440

$

243,250

$

238,060

Total Debt Service

$

1,562,720

$

2,187,380

$

2,130,414

$

3,492,200

$

3,144,290

$

2,817,740

$

2,693,650

$

2,615,635

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

6%

8%

8%

10%

10%

8%

8%

7%

75