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County Debt Service and Debt Capacity
<br />Fiscal Years 2010-16
<br />Current
<br />Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
<br />Debt Service 2010-11 2011-12 2012-13 44 2014-15 2015-16
<br />Total Annual Debt Service 28,632,445 26,060,464 23,668,072 23,119,283 22,139,814 21,103,221
<br />General Fund Budget 175,313,920
<br />Annual Growth Projections 1.00% 1.00% 1.50% 1.50% 2.00%
<br />Projected General Fund Budget 177,067,059 178,837,730 181,520,296 184,243,100 187,927,962
<br />Annual Debf Service as a % of General Fund 16.33% 14.72% 13.23% 12.74% 12.02% 11.23%
<br />Debt Service Policy 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
<br />Future Debt Service Capacity -1.33% 0.28% 1.77% 2.26% 2.98% 3.77%
<br />Projected Debt Financing
<br />County Renovations & Equipment
<br />2040-2011 - $2,300,000 506,000 496,800 487,600 478,400 469,200
<br />Qualified School Construction Bonds
<br />2010-2011 - $4,000,000 270,000 270,000. 270,000 270,000 270,000
<br />Schools Facilities
<br />2011 - 2012 - $30,000,000 2,730,000 2,730,000 2,730,000 2,730,000
<br />New Debt Service 776,000 3,496,800 3,487,600 3,478,400 3,469,200
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<br />Projected Annual Debt Service 28,632,445 26,836,464 27,164,872 26,606,883 25,618,214 24,572,421
<br />Projected Annual Debt Service
<br />As A Percent of the General Fund Budget
<br />Available Annual Debt Service Capacity
<br />Based on the 15% Debt Service Policy
<br />16.33% 15.16% 15.19% 14.66% 13.90% 13.08%
<br />(2,335,357) (276,405) (339,213) 621,161 2,018,251 3,616,773
<br />'' $1,000,000 of annual debt service = $ 11,000,000 of debt issued at current interest rates for 15 years
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