Two Council goal measures for the “Responsible City Government” mid-term priority are related to bonds. The target and historical results can be found on the goal measures dashboard.
Net bonded debt per capita represents the total outstanding debt secured by property taxes, net of debt service funds, expressed as a per capita amount. This ratio provides an indicator on the debt burden per resident compared to other communities. This ratio decreased in FY18 due to the addition of 30,000 residents from the annexation of the New Territory and Greatwood districts.
The ratio of net bonded debt to taxable value expresses the City’s ability to generate tax revenue from all taxable property to support outstanding debt. This ratio is expected to increase slightly in FY18 due to the issuance of new debt in FY18 as well as assumption of outstanding debt from the New Territory and Greatwood districts. Taxable value from these districts will be added to the City’s tax roll for FY19.
Information about the City’s outstanding debt is available in the proposed and adopted annual budget, and the Comprehensive Annual Financial Report (CAFR)- both of which can be found on the City’s website. The annual budget document provides a forward-looking picture of the City’s debt including principal outstanding, annual principal and interest payments and a breakdown of outstanding bonds by funding source. Planned debt issues are summarized in the annual budget and information about projects to be funded from bond proceeds is included in the Five Year Capital Improvement Program.
The CAFR shows the City’s financial and debt position as of the most recent fiscal year end, with discussion and analysis of activity during the fiscal year and an overview of long term debt in compliance with GASB requirements- distinguished between governmental and business-type activities. The CAFR provides discussion about capital asset construction, long term liabilities and net position and summarizes the activity that took place during the fiscal year.
Additionally, the Texas Comptroller’s Annual Local Debt Report can be found on the Financial Transparency page- in compliance with HB 1378. This information is updated annually within 180 days of the most recent fiscal year and follows the format prescribed by the comptroller’s office. For each issue, information is available about the bond issues that are outstanding: