The County’s General Government debt budget includes principal and interest payments on outstanding debt repaid from the general fund. Debt service payments of the School system and self-supporting revenue bonds are included in the respective budgets of the school system and the various enterprises.
Who Are We?
- Manages the current year liability of long-term obligations of the general government.
- Long-term obligations consist mostly of bonds sold to finance the construction of public facilities.
- Other long-term obligations consist of lease agreements that finance the acquisition of public safety equipment.
- Principal, interest, and administrative costs for the current accounting year are paid from debt service accounts.
- Increase for Master Lease for Fire and Rescue Apparatus and Equipment
- Increase for Aquia Station Rebuild
- Comply with the debt limitations outlined in Principles of High-Performance Financial Management, as adopted by the Board.
- In order to reduce our reliance on debt, a reserve was set aside for the proposed courthouse capital project to be utilized for the design and furniture.
The above goals support the Principles of High-Performance Financial Management.