Page 113 - Southlake FY23 Budget

CITY PROFILE

ProPerty tax SuPPorteD long-term Debt aS a % of aSSeSSeD Valuation

Desired Range
LONG-TERM DEBT DEBT AS % OF ASSESSED VALUATION
3.50% $120,000,000
3.01%

3.00% 2.79% $100,000,000

2.36%
2.50%
2.07% 2.00% $80,000,000

OF VALUATION 2.00% 1.71% 1.46% 1.49% 1.51% 1.49% 1.37% $60,000,000 DOLLARS

1.50%
PERCENTAGE 1.19% 1.12% 0.92% $40,000,000

0.72% 0.58%
1.00%

0.50% 0.44% 0.34% 0.27% 0.22% 0.24% $20,000,000

0.00% $-
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

FISCAL YEAR
Warning Trend: Increasing net long-term debt as a Long-term debt
percentage of assessed valuation Assessed valuation

This chart shows the debt issued by Southlake that is supported by property tax revenues relative to the total assessed
valuation. Credit industry benchmarks state debt exceeding ten percent of assessed valuation as well as increasing long-
term debt as a percentage of assessed valuation are warning signals. Neither of these trends are reflected in this chart
which shows that the property tax supported long-term debt as a percentage of assessed valuation has been falling since
2003 and remains well below the ten percent benchmark. The City has established its own target of two percent or below,
as outlined in the Financial Principles section of the Appendix, and since 2007, our debt as a percentage of assessed
valuation has been at or below two percent.

Debt as % Debt as %
Assessed
Fiscal Year Long-Term Debt of Assessed Fiscal Year Long-Term Debt Assessed Valuation of Assessed
Valuation
Valuation Valuation
2003 $108,251,208 $3,590,810,881 3.01% 2014 $79,129,909 $6,653,765,251 1.19%
2004 $104,384,962 $3,737,260,696 2.79% 2015 $75,779,902 $6,760,119,917 1.12%
2005 $92,345,898 $3,913,240,543 2.36% 2016 $67,555,109 $7,322,599,520 0.92%
2006 $86,977,885 $4,207,074,169 2.07% 2017 $59,439,993 $8,269,475,160 0.72%
2007 $91,759,026 $4,593,954,505 2.00% 2018 $50,477,189 $8,743,046,226 0.58%
2008 $87,122,650 $5,088,802,161 1.71% 2019 $43,475,681 $9,810,068,614 0.44%
2009 $88,846,144 $5,582,058,197 1.46% 2020 $36,272,575 $10,526,366,088 0.34%
2010 $93,169,077 $6,252,920,129 1.49% 2021 $28,784,272 $10,714,248,031 0.27%
2011 $93,402,615 $6,178,132,589 1.51% 2022 $24,528,447 $11,138,315,427 0.22%
2012 $95,940,907 $6,226,088,861 1.49% 2023 $29,497,940 $12,177,275,938 0.24%
2013 $87,681,533 $6,442,291,913 1.37%

112 FY 2023 City of Southlake | BUDGET BOOK
WWW.CITYOFSOUTHLAKE.COM