Responsible City Government
Status Indicators: Proceeding as Anticipated | Monitoring Progress | Reviewing for Improvement | Information Unavailable
Proceeding as Anticipated
Reviewing for Improvement
Please note that Q1, Q2, Q3, and Q4 refer to the first, second, third, and fourth quarters of the Fiscal Year. The City’s Fiscal Year runs from October 1st – September 30th and is denoted by FY.
This measure is important to highlight because it underscores the fact that the City has not taken on more debt than it can afford. Therefore, this measure exemplifies the City's ability to manage this debt ratio and ensure its ability to keep taxes low for residents.
This measure is the dollars of net bonded debt per capita. And net bonded debt as a percent of taxable value of property, as reported in the Comprehensive Annual Financial Report (CAFR).
Net Bonded Debt: General obligation debt plus Certificate of Obligation debt minus reserves for repayment.
Per Capita: (Net bonded debt/population)
Debt to Value: (Net bonded debt/ taxable property value)
The target is <$2,400 per capita and 1.5% Debt to the Taxable Value of Property.
This target reflects five year projections of debt issuances, population, and valuation.
The City wants to ensure the responsible use of debt. By managing this ratio the City can ensure its ability to keep taxes low for residents.