FY 2023 ADOPTED BUDGET AS OF 9-22-22 - Flipbook - Page 65
Strategic → Long Term Debt
City’s Debt to Income Ratio
City’s debt to income ratio (DTI) is 37.5%, which is above the mid-range of healthy borrowing
ability of 28-36%. A debt-to-income ratio is a finance measure that compares the amount of debt to
overall revenue. Current City’s financial stability defines borrowing capacity of $1,172,690 annually,
for next five years, which will allow City to borrow for future capital projects in FY 23-24.
Table 12:
Projected Annual Debt Service on Existing Loans
FY 2023-2027
Debt Description
SRF Loan - 2016
1.29% 350300
Revenue Bond
3.21% 350302
- 2016
Note Payable
2.29%
- 2018
CRA Loan - 2020
2.88%
Land
Total
2023
259,167
Fiscal Year Ending September 30, 2021
2024
2025
2026
2027
Total
265,981
272,974
280,162
287,350 1,365,634
330,000
340,000
355,000
365,000
375,000 1,765,000
160,000
120,051
869,218
123,549 2,527,559
729,530 3,155,533
645,162
160,000
- 2,771,159
662,350 6,061,793
Table 13:
Fiscal
Year
2022
2023
Total
Fiscal
Year
2022
2023
2024
2025
Total
Governmental Activities
Note Payable - 2018
Principal
160,000 $
160,000
-
$320,000 $
$
Interest
7,328
3,664
10,992
CRA Loan - 2020
Principal
Interest
116,653
81,495
120,051
78,097
123,549
74,600
2,527,559
71,001
-
$2,887,812 $305,193
City of Eustis, Florida
Adopted Annual Budget
63