Orange County NC Website
Browse       Search
Debt Service <br /> 2006-07 2007-08 2008-09 2008-09 2009-10 2009-10 <br /> Actual Actual Original 12-Month Department Manager <br /> Expenditures Expenditures Budget Estimate Requested Recommend <br /> Debt Service (General Fund) Account: 3800/8800 <br /> Total School Debt Service $ 1214851411 $ 1211451808 $ 1915701005 $ 1210381155 $ 1915701005 $ 1915701005 <br /> Total County Debt Service $ 219511985 $ 218671863 $ 613451808 $ 215461603 $ 613451808 $ 613451808 <br /> Total Debt Service <br /> Expenditures $1594379396 $ 1550135671 $ 2559155813 $ 1495843758 $ 2539159813 $ 2599159813 <br /> These funds repay principal and interest due on non-enterprise fund debt. This includes outstanding <br /> voter approved general obligation bonds and other alternative financing issuances related to School and <br /> County capital projects. <br /> Debt Management <br /> Orange County's primary objective in managing the amount of debt issued to meet long-term capital <br /> needs is to keep the level of indebtedness within available resources. The Board has a longstanding <br /> Debt Management Policy that establishes parameters, procedures and other objectives related to debt <br /> issuance. A major benchmark included in the Policy provides for the County's annual non-enterprise fund <br /> debt service payments to be no more than 15 percent of the County's total General Fund budget. Fifteen <br /> percent of the fiscal year 2009-10 recommended General Fund Budget equals $26,638,356. <br />