On borrowing and Guilford County's budget: $337.38 million that may not need borrowing as federal and state subsidies fall and local tax revenues drop?

"...the County anticipates issuing $33.99 million of Qualified School Construction Bonds
later in the second half of calendar year 2011,
and $183.99 million of General Obligation debt in summer 2011.

An additional issue of $119.4 million is planned for summer 2012.

...The debt repayment amounts presented herein
reflect a delay in the construction of the southeast area elementary school,
the airport area high school, and renovations at Allen Jay Middle School.

$33.99 + $183.99 + $119.4 = $337.38 million that may not need borrowing

as federal and state subsidies fall and local tax revenues drop?

Total Debt Service

2011 - $77,837,113

2012 - $88,530,030

2013 - $103,617,969

How about not borrowing a lot more money?

General obligation debt service should not exceed 15% of the operating budget.

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 2013 - 2018.

http://www.co.guilford.nc.us/12budgetpro/31%20-%20Debt%20Service.pdf

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