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 and self-supporting debt, divided by the city's population.
This ratio provides an indicator on the debt burden for residents compared to other communities, although tax backed debt is also supported by commercial taxpayers.
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. Nearly 30% of the City’s taxable value comes from commercial development, which reduces the burden on residential taxpayers. Based on the 2019 tax roll, the fiscal year 2020 net bonded debt to assessed value ratio is 1.09%.
Information about the City’s outstanding debt is available in the 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: