Agenda Information Sheet
DEPARTMENT: Finance
ACM: Bryan Langley
Date: March 7, 2017
SUBJECT
Title
Management Report - Annual Debt Report as of September 30, 2016.
Body
BACKGROUND
Attached is the Debt Summary Report with principal and interest outstanding as of September 30, 2016. This report is prepared on an annual basis to provide citizens and the general public with a comprehensive and easy to understand summary of the City’s debt profile. Additionally, effective fiscal year ending September 30, 2016, this report includes required information in accordance with Texas Local Government Code 140.008 (House Bill 1378).
The report provides a high level introduction to the types and uses of debt issued by the City as well as the most recent bond ratings. Staff has differentiated between tax-supported and revenue-supported debt in order to give the public a better understanding of which debt is paid for by property taxes versus rate revenues. Furthermore, the report details the principal and interest for each major service area of the City and provides two visual representations by dollar amount and percentages.
The report was made available to the general public on the City’s website on Wednesday, February 22, 2017.
STRATEGIC PLAN RELATIONSHIP
The City of Denton’s Strategic Plan is an action-oriented road map that will help the City achieve its vision. The foundation for the plan is the five long-term Key Focus Areas (KFA): Organizational Excellence; Public Infrastructure; Economic Development; Safe, Livable, and Family-Friendly Community; and Sustainability and Environmental Stewardship. While individual items may support multiple KFAs, this specific City Council agenda item contributes most directly to the following KFA and goal:
Related Key Focus Area: Organizational Excellence
Related Goal: 1.1 Manage financial resources in a responsible manner
EXHIBITS
1. Annual Debt Report as of September 30, 2016
Respectfully submitted:
Chuck Springer, 349-8260
Director of Finance
Prepared by:
Antonio Puente, Jr.
Director of Finance