Memorandum

City of Lawrence

Finance Department

TO:	Dave Corliss, City Manager
FROM:	Ed Mullins, Finance Director
Date:	September 8, 2011
RE:	Debt Ratios

Background 

The City Commission has adopted guidelines to utilize when issuing general obligation debt.   The guidelines have been updated to show comparisons with the debt levels as a result of the proposed issuance dated September 15, 2011.

Guidelines

Measure	Guideline	Actual
GO Bonds as a % of Appraised Value	2.20%	1.58%
Outstanding GO Bonds and Notes as a % of Statutory Limit	60.00%	33.91%
Debt Service Payments from Bond Fund as a % of Governmental Expend.	15.00%	9.47%
GO Bonds Outstanding Per Capita	$1,100	$1,015
Overlapping Bonds Per Capita	$2,500	$2,053
Mill Levy for Bond Fund	10.00	7.001

The guidelines incorporate the latest appraised valuation and include the bonds being issued in September, but exclude the bonds retired on September 1.  The expenditure amounts are from 2010.