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Analysis of Debt Service
Debt – Principal: I am proposing level funding this line item at $1,150,301. This line item is a fixed cost to the Town and represents the amount of money the Town is required to pay for the principal on its debt largely due to the new school gymnasium floor, school roof and fire truck.
Debt – Interest: I am proposing reducing this line item from $413,450 to $358,762. This line item is a fixed cost to the Town and represents the amount of money the Town is required to pay for the interest on its debt.
Short-term borrowing: I am proposing level funding this line item at 1,350 in order to cover interest on temporary loans to the Town.
Total Debt Service expenditures: $1,510,413 - a decrease of 3.5% . These are fixed costs to the Town.
History of Debt Service
2005 |
2006 |
2007 |
2008 |
2009 |
2010 |
2011 |
$1,566,921 |
$1,462,483 |
$1,535,550 |
$1,687,306 |
$1,641,700 |
$1,565,101 |
$1,510,413 |
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