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County Debt Service and Debt Capacity (General Fund Only) - Incremental Tax Adjustment
<br />Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year Fiscal Year
<br />Debt Service 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 2024-25
<br />Total Existing Annual Debt Service 27,716,270 26,486,143 25,383,528 24,561,722 19,811,393 15,894,407 12,066,408
<br />General Fund Revenues:
<br />Annual Growth Projections 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00%
<br />Projected General Fund Revenues 216,431,340 223,141,236 228,808,945 237,208,624 252,498,638 257,548,610 262,699,583
<br />Estimated Incremental Tax Equivalent 1.27 cents .63 cents 1.96 cents 5.30 cents ---
<br />Ad justed General Fund Budget 218,765,918 224,322,495 232,557,475 247,547,684 252,498,638 257,548,610 262,699,583
<br />Existing Debt Service as a % of General Fund Revs 12.8% 11.9% 11.1% 10.4% 7.8% 6.17% 4.59%
<br />Debt Service Policy 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%
<br />Future Debt Service Capacity 2.19% 3.13% 3.91% 4.65% 7.15% 8.83% 10.41%
<br />Projected Debt Financing
<br />2017-18 - $101,457,793
<br />Debt Service Payments 1,690,811 1,690,811 1,690,811 1,690,811 1,690,811 1,690,811 1,690,811
<br />2018-19 - $58.645,535
<br />Debt Service Payments 2,212,289 2,212,289 2,212,289 2,212,289 2,212,289 2,212,289
<br />2019-20 - $37,071,512
<br />Debt Sevice Payments 4,717,693 4,717,693 4,717,693 4,717,693 4,717,693
<br />2020-21 - $32,227,610
<br />Debt Service Payments 11,264,828 11,264,828 11,264,828 11,264,828
<br />FY 2021-22 - $29,878,532
<br />Debt Service Payments 3,617,747 3,617,747 3,617,747
<br />FY 2022-23 - $18,471,527
<br />Debt Service Payments 2,328,006 2,328,006
<br />FY 2023-24 - $13,453,861
<br />Debt Service Payments 905,289
<br />New Debt Service 1,690,811 3,903,100 8,620,793 19,885,621 23,503,368 25,831,374 26,736,663
<br />Projected Annual Debt Service 29,407,081 30,389,243 34,004,321 44,447,343 43,314,761 41,725,781 38,803,071
<br />Projected Annual Debt Service
<br />As a Percent of the General Fund Revenues 13.44% 13.55% 14.62% 17.96% 17.16% 16.20% 14.77%
<br />Note: Interest Only Periods are subject to review and discussion with the Local Government Commission staff.
<br />Represents 5 Year Level Debt Service on Short-term Vehicles/Information Technology borrowings; 5/8 Year Level Principal on other Short-term
<br />borrowings; 20-Year Level Principal on Long-term borrowings, with an Incremental Tax Adjustment and Interest Only Periods, and a cumulative
<br />tax equivalent impact of 9.16 cents.
<br />Fiscal Years 2019-24
<br />200
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