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Debt Service
<br />County Debt Service
<br />Principal
<br />2010 -11
<br />2011 -12
<br />2012 -13
<br />2012 -13
<br />2013 -14
<br />2013 -14
<br />1,729,919
<br />Actual
<br />Actual
<br />Original
<br />12 -Month
<br />Department
<br />Comissioner
<br />1,043,124
<br />Expenditures
<br />Expenditures
<br />Budget
<br />Estimate
<br />Requested
<br />Approved
<br />Debt Service (Genera/ Fund)
<br />4,184,744
<br />4,184,744
<br />Interest -
<br />Non -GO Debt
<br />3,298,886
<br />2,408,973
<br />School Debt Service
<br />3,255,647
<br />2,019,449
<br />2,019,449
<br />Principal - GO Bonds
<br />11,157,348
<br />10,775,706
<br />10,694,530
<br />10,694,530
<br />9,618,676
<br />9,618,676
<br />Principal - Non -GO Debt
<br />5,274,477
<br />4,607,605
<br />2,785,489
<br />2,785,489
<br />4,339,655
<br />4,339,655
<br />Interest - Non -GO Debt
<br />1,750,857
<br />1,402,150
<br />1,209,569
<br />1,209,569
<br />2,674,219
<br />2,674,219
<br />Debt Service Reserves
<br />0
<br />0
<br />663,196
<br />663,196
<br />0
<br />0
<br />Total School Debt Service
<br />$ 18,182,682
<br />$ 16,785,462 $
<br />15,352,784
<br />$ 15,352,784
<br />$ 16,632,550
<br />16,632,550
<br />County Debt Service
<br />Principal
<br />- GO Bonds
<br />1,554,415
<br />1,456,825
<br />1,495,394
<br />1,495,394
<br />1,729,919
<br />1,729,919
<br />Interest-
<br />GO Bonds
<br />972,551
<br />647,389
<br />947,488
<br />947,488
<br />1,043,124
<br />1,043,124
<br />Principal
<br />- Non -GO Debt
<br />4,617,115
<br />5,164,477
<br />4,499,762
<br />4,499,762
<br />4,184,744
<br />4,184,744
<br />Interest -
<br />Non -GO Debt
<br />3,298,886
<br />2,408,973
<br />3,255,647
<br />3,255,647
<br />2,019,449
<br />2,019,449
<br />Total County Debt Service $ 10,442,967 $ 9,677,663 $ 10,198,291 $ 10,198,291 $ 8,977,236 8,977,236
<br />Total Debt Service
<br />Expenditures $ 28,625,649 $ 26,463,124 $ 25,551,075 $ 25,551,075 $ 25,609,786 $ 25,609,786
<br />These funds repay principal and interest due on non - enterprise fund debt. This includes outstanding
<br />voter approved General Obligation (GO) bonds and other alternative financing issuances related to
<br />School and 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
<br />debt issuance. A major benchmark included in the Policy provides for the County's annual non -
<br />enterprise fund debt service payments to be no more than 15 percent of the County's total General
<br />Fund budget. Fifteen percent of the fiscal year 2013 -14 approved General Fund Budget equals
<br />$28,160,025 compared to our anticipated debt service payments of $25,609,786. The table below
<br />compares the County's current level of debt with the levels outlined in the Debt Management Policy.
<br />WA
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