How much debt can the City carry?

The City is subject to debt margin limits related to general obligation bonds. These limits are based upon the City’s assessed value. The limits on the general obligation bonds related to general projects are 4% of the City’s total assessed value. For wastewater projects financed by general obligation bonds, the debt limit is 8% of the City’s total assessed value. Per Wyoming Statute, there is no debt limit for water projects financed by the general obligation bonds. Other types of debt the City carries includes funding of loans at the State level for such programs as the Business Ready loans, Water Development Commission, and State Land and Investment Board. The City is authorized to do lease purchase options on equipment and other leasing needs. The Specific Purpose tax projects debt are being paid through the Specific Purpose Tax of 1% monthly collections. 

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1. What is the General Fund?
2. What are the primary General Fund revenue sources?
3. What is the 4th Cent Sales & Use Tax and how is it allocated?
4. What is the 5th Cent Sales & Use Tax (local option) and how is it allocated?
5. We have a 6th cent specific purpose tax (1% SPT local option) in Albany County. Why don’t I see it in General Fund revenue sources? How is this tax being managed?
6. How much debt can the City carry?
7. What are the current types of general fund debt and the terms associated with the debt?
8. What is an Enterprise Fund?
9. What types of enterprise fund debt are held by the City and what are the terms associated with that debt?
10. What determines how much the City can spend?
11. What is the City’s Bond Rating?
12. What is Depreciation? How does the City manage it?
13. What are Fund Balance and Net Position?
14. What do the different components of fund balance mean?
15. What is a Modified Balance Sheet?
16. What are the Days of Operation Reserves?
17. What are the Recreation Center’s primary revenue sources?
18. What is the percent of Cost Recovery for the Recreation Center?
19. What is the Enterprise Fund Shared Services Transfer?
20. How does the City plan its budget for Enterprise Funds?
21. Are the revenues in the Enterprise fund only user fees?
22. How does the Financial Outlook Report differ from the Comprehensive Annual Financial Report (CAFR)?