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• REVERSION OF UNALLOGATED RESOURCES <br />• EARLIER YEAR END EXPENDITURE CUT OFF <br />• AGGRESSIVE PURSUIT OFACCTS RECEIVABLE <br />DEBT POSITION <br />• OUTSTANDING DEBT ~ 6/30/05 $152.5 MlLL10N. <br />• DEBT EVIDENCED BY <br />BONDS $125.8 MILLION <br />ALTERNAT/VE $ 26.7 MILLION <br />DEBT ISSUED 2004-2005 <br />• $25.1 IVIILLIC)N ISSUED <br />» SCHOOLS $ 7.6 <br />» PARKS $10.3 <br />» SENIOR CENTER $ , 5 <br />» HOUSING $ 1,3 <br />» SEWER $ 1, 2 <br />» COUNTY BUILDING $ 4.2 <br />• $2.5 MILLION EQUIPMENT FINANCED <br />• BOND RATINGS MAINTAINED <br />AAA Fl TCH, AA+ S&P, Aa 1 MOODY'S <br />• $35 MILLION UNISSUED BONDS REMAINING AT 6130/05 <br />DEBT POLICY PARAMETERS <br />• Debt Will Not Exceed 3% of Assessed Value <br />~ Actual Debt = 1.5% of Assessed Value <br />• Debt Service Paymenfs Will Not Exceed 15% of Operating Expenses <br />- Actual Pymts =13% of Operating Expenses <br />DEBT SUBSEQUENT YEAR <br />• ISSUED $29.2 OF THE $35 MILLION REMAINING BONDS AUG 05 <br />{INCLUDED $25.7 MILLION FOR SCHOOLS AND $3.5 MILLION FOR SENIOR CENTERS) <br />• REFUNDED $29.4 MILLION OF 2000 BONDS <br />