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7 <br /> — 2018 & Beyond: 1.70% <br /> • The County has a Financial Policy setting a maximum Tax Supported Debt to Assessed <br /> Value of 3.0%. <br /> Key Debt Ratio: Tax Supported Debt Service vs. Governmental Expenditures <br /> TS Debt Service vs. Gov't Expenditures Peer Comparative (Lower is Better) <br /> • Rating Considerations: <br /> — Moody's: Moody's criteria allows for a scorecard adjustment if an issuer has <br /> very high or low debt service relative to its budget Percent. <br /> — S&P: The Debt and Contingent Liabilities section defines categories of Net <br /> Direct Debt as a % of Total Governmental Funds Expenditures as follows: <br /> o Very Strong: <8% <br /> o Strong: 8% to 15% <br /> o Adequate: 15% - 25% <br /> o Weak: 25% - 35% <br /> o Very Weak: > 35% <br /> • Existing Tax Supported Debt Service vs. Governmental Expenditures <br /> — FY 2017: 11.72% <br /> • Assumed Future Growth Rates <br /> — 2016 Adjusted Expenditures: $193,857,534 <br /> — 2017: 1.50% <br /> — 2018 & Beyond: 1.70% <br /> • The County does not have a Financial Policy setting a maximum Tax Supported Debt <br /> Service to Governmental Expenditures. However, the County has a policy setting a <br /> maximum Debt Service to General Fund Revenues of 15.0%. <br /> Key Debt Ratio: Tax Supported Debt Service vs. General Fund Revenues <br /> Tax Supported Debt Service vs. General Fund Revenues <br /> • Existing Tax Supported Debt Service vs. General Fund Revenues <br /> — FY 2017: 12.87% <br /> • Assumed Future Growth Rates <br /> — 2017 Original Budget : $203,116,868 <br /> z <br /> — 2018 Estimate : $209,221,031 <br /> — 2019 & Beyond: 2.00% <br /> • The County has a policy setting a maximum Tax Supported Debt Service to General <br /> Fund Revenues of 15.0%. <br /> 1 <br /> Excludes Fund Balance appropriation of$12,726,944. <br /> 2 <br /> Per County Staff. Excludes Fund Balance appropriation of$7,976,633. <br /> TS Debt Service vs. General Fund Revenues (Lower is Better) <br /> • Note: Peer comparative is estimated based on data available through Moody's MFRA. <br /> Debt Affordability Analysis - page 16 - graph <br /> Existing Debt <br /> • FY 2018 Value of a Penny: $1,781,692 <br /> • Assumed FY 2019 & Beyond Growth Rate: 1.70% <br /> Debt Capacity and Debt Affordability Analysis <br /> September 2015 Overview— Bond Referendum Discussion <br />