The City has posted FUTURE DEBT OBLIGATIONS of the City Of Vernon.
There have been inquiries from members of the public concerning the City of Vernon’s current and future debt obligations. This information has been available in our audited financial statements posted on the City’s Web site. This analysis provides a more detailed review of the City’s current general fund debt. (Don Quixote Note: The 2006 Audited Financial statements have not being posted to the Web Site as they have not yet been presented for Council's acceptance.)
The City’s total Debt:
Dec 31, 2005 $ 53,322,436 Dec 31, 2006 $ 49,797,838
Sewer Debt –paid by ratepayers $ 21,875,979
General Fund Debt $ 27,921,859
Total $ 49,797,838
BC Gas LILO $21,641,333
Other $ 6,280,526
Total $27,921,859
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Don Quixote's Note:
- Link has a detailed breakdown of debt and what class of taxpayer is responsible for repayment. Maturity dates of all long term debt is detailed. Good presentation.
- Acknowledges that there is Greater Vernon Debt carried by the North Okanagan Regional District: Performing Arts Centre Vernon Multiplex Greater Vernon Water Greater Vernon Parks and Recreation. The outstanding debt for the Performing Arts Centre and Vernon Multiplex can be found at Multiplex and Performing Arts Theatre - Where we stand ! . $12,866,763 and $7,913,217 respectively as at Dec 31,2005.
- GVWU (Water) debt balance as at Dec 31,2005. is $15,186,765 (see Below)
- Greater Vernon Parks and rec debt outstanding for Rec Area 1 is $ 3,970,200 as at Dec 31,2005 (see below). Any borrowing re rec Area parksland referendum done in 2006 or beyond and is not included in balance for 2005.
1 comment:
CAREFUL-CITY HALL DOES NOT WANT THE TAXPAYERS TO BE IN THE KNOW. HEAD BUREACRAPS AND MOST OF COUNCIL WOULD PREFER THAT THIS INFO IS NOT AVAILABLE TO THE PUBLIC. HOW MANY TIMES HAVE WE HEARD "OPEN AND TRANSPARENT" HAS ANYONE ASKED THEM WHAT THAT MEANS.IT IS CERTAINLY NOT ARROGANCE AND DECEIT!
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