HomeMy Public PortalAboutDebt Service Presentation 09202017Presented to the Finance Committee
September 20, 2017
Debt Service Definitions
•Long Term Debt / Bond:
A means to raise money through issuance of debt. The repayment cost, usually stated in annual terms and based on an amortization schedule, of the principal and interest on any particular bond issue.
•Short Term Debt / Bond Anticipation Note (BAN):
Instrument used to generate cash for initial project costs and with the expectation that the debt will be replaced later with permanent bonding. Typically issued for less than on year.
•Forecasted Debt / Bonds Authorized and Unissued:
Balance of a bond authorization not yet sold. For presentation purposes, also includes forecasted capital projects subject to town meeting authorization.
•Debt Exclusion:
An action taken by the community through a referendum vote to raise the funds necessary to pay debt service costs for a particular project from the property tax levy, but outside the limits under Proposition 2 ½. The amount is added to the levy limit for the life of the debt only and may increase the levy above the levy ceiling.
Source: Retrieved on September 18, 2017 from the Massachusetts Municipal Glossary at http://www.mass.gov/dor/docs/dls/publ/misc/dlsmfgl.pd
Debt Service Summary
As of September 20, 2017
0
1
2
3
4
5
6
7
8
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Long Term Debt Short Term Debt Forecasted DebtIn Millions ($)
Debt Service Summary - % of Budget
As of September 20, 2017
In Millions ($)
Long Term Debt
Long Term Debt – Major Projects
Project Issue Amt ($) Issue Date Retire Date Funding Source
Golf Course Expansion $5,690,000 2007 2020 Golf Receipts
Land Acquisition $2,500,000 2007 2028 Community Preservation
Surcharge
Police Station $1,540,000 2007 2020 Debt Exclusion
Water Dept
Garage / Office
$2,475,000 2008 2028 Water Receipts
Eddy School Roof $2,908,104 2014 2037 Debt Exclusion
Water Mains & Well #6 $2,678,597 2014 2034 Water Receipts
Road Repairs $2,000,000 2016 2031 Debt Exclusion
Fire Station $6,500,000 2017 2037 Debt Exclusion
Road Repairs $2,250,000 2017 2032 Debt Exclusion
Debt Service
Long Term Debt Expenditure by Category
0
200
400
600
800
1000
1200
1400
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Town Schools Golf Dept Water Dept CPC BettermentsIn Thousands ($)
Debt Service
Long Term Debt Funding by Category
0
200
400
600
800
1000
1200
1400
1600
FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Tax Rate Debt Exclusion Golf Receipts Water Receipts CPC Surcharge Road Betterments Water BettermentsIn Thousands ($)
Short Term Debt
Short Term Debt - Projects
Note: Short Term Notes are typically for one year. The estimated retire date and forecast assumes the note will be converted to long term debt.
Project Issue Amt ($)Issue Date Retire Date Funding Source
Golf Improvements $120,000 2016 Est. 2027 Golf Receipts
Road Betterment –
Leona Terrace
$169,814 2017 Est. 2028 Betterments
Debt Service
Short Term Debt Expenditure by Category
0
5
10
15
20
25
30
35
40
45
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027
Golf Dept BettermentsIn Thousands ($)
Debt Service
Short Term Debt Funding by Category
In Thousands ($)0
5
10
15
20
25
30
35
40
45
FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027
Golf Receipts Betterments
Forecasted Debt
Forecasted Unissued Debt – Major Projects
Authorized Projects Est Amt ($) Est Issue Date Est Retire Date Authorized Funding
Source
Fire Station $7,000,000 2020 2039 Debt Exclusion
Road Improvements $5,750,000 2019, 2020, 2021 2033, 2034, 2035 Debt Exclusion
Tri-Town Demo $634,938 2019 2023 Existing GF Revenue
Scada System Update $500,000 2019 2023 Water Receipts
Forecasted Projects Funded By Debt –
Major Projects
Forecasted Projects Est Amt ($) /
Brewster
Est Issue Date Est Retire Date Est Funding Source
Nauset Regional High
School
$18,841,095 2021, 2022 2040, 2041 Debt Exclusion
Cape Cod Technical School $5,937,016 2020 2048 Debt Exclusion
Library $7,000,000 2021, 2022 2039, 2040 Debt Exclusion
Debt Service
Forecasted Debt Expenditure by Category
0
500
1000
1500
2000
2500
3000
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 FY2028
Town Schools Water DeptIn Thousands ($)
Debt Service
Forecasted Debt Funding Source by Category
0
500
1000
1500
2000
2500
3000
3500
4000
4500
5000
FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026 FY2027 FY2028
Tax Rate Debt Exclusion Water ReceiptsIn Thousands ($)
Projected Tax Rate
Impact
Debt Service
Forecasted Debt Estimated Impact on Tax Rate