Placement: Proclamations and Special presentations
Action Requested: Discussion
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Provide a Review of the City’s Debt Portfolio.
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Submitted By: Charlie Proulx, Deputy Director, Finance.
Strategic Plan Link: The City’s Mission to utilize fiscal responsibility.
Executive Summary (General Business): This is a review and update on the City’s debt portfolio.
Presentation Information: A PowerPoint presentation by Charlie Proulx, Deputy Director, Finance.
Staff Recommendation: Request that the Council acknowledge the progress made and reaffirm commitment to responsibly managing the City’s long-term debt obligations.
Background: Outstanding bonded debt reached a high of $1.042 billion during FY 2009-10; actual for FY 2023-24 was $619 million. Total debt projected for FY 2024-25 is $583 million.
Issues/Analysis: N/A
Financial Information: The City will continue to focus on responsible debt management, ensuring adequate funds are available to meet current obligations while also maintaining flexibility to address future needs.
Special Consideration: N/A
Location of Project: N/A
Attachments: 1. Debt Review PowerPoint
NOTE: All of the listed items in the “Attachment” section above are in the custody of the City Clerk. Any item(s) not provided in City Council packets are available upon request from the City Clerk.
Internal Reference Number: N/A
Legal Sufficiency Review:
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