Thursday, December 16, 2010

If Guilford County owed $557,405,000 with savings of $181,035,639...

Based on estimates of future debt service
for all currently authorized general obligation debt
and annual operating budgets,
the County will exceed its guideline for general obligation debt service
in fiscal years 2012 - 2016.

At its highest, debt service will peak
at just under18% of the operating budget in Fiscal Year 2012-2013.

Guilford County 2010/11 proposed budget

If Guilford County owed $557,405,000 with savings of $181,035,639
after Fiscal Year 2008/09,

and intends to owe about $967,775,000 with about $91,178,439 in reserves
after Fiscal Year 2010/11,

and is expected to owe about $1,069,000,125 after Fiscal Year 2011/12,

could some consider the County owing $511,595,125 more
as net revenues minus Appropriated Fund Balances fall ~$19,415,076
from ~$569,018,443 after Fiscal Year 2009/10,
to ~$549,603,367 in 2010/11, fiscally imprudent?

Source: Pages 18 and 199, Guilford County adopted FY 2010/11 Budget

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