Trend and Analysis
The County’s fiscal policy requires that the ratio of debt service costs to General Fund County source revenues does not exceed 8%. Currently, debt service payments are below 8%. However, the trend is growing due to the extensive Board of Education modernization plan that is estimated to cost over $8 billion over the span of 20 years. Also, the County has several expensive capital improvement projects that are underway such as the public safety driver training and gun range, a new Regional Health and Human Services Center and infrastructure improvements to many bridges in the County. Debt service payments in recent years have benefited from bond premiums, therefore lowering overall debt costs. The office has continued to monitor the County's debt affordability and has prioritized CIP Projects in a manner designed to maintain the County's debt policy within the framework of the County's long term capital requirements.