Page 325 - CityofWataugaAdoptedBudgetFY25
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DEBT SERVICE
fund general capital equipment and projects. These Water and Sewer infrastructure
projects will continue throughout the next several years.
In 2022 a $5.0 million Combination Tax and Limited Pledge Revenue Certificates of
Obligation; $550,000 of the issuance was to fund the purchase of a Jet Vac and the
remaining amount will fund general capital equipment and projects.
In 2024 a $7.10 million Combination Tax and Limited Pledge Revenue Certificates of
Obligation; $3.5 million of the issuance is to fund the Advanced Metering Infrastructure
(AMI) project and the remaining amount will fund general capital equipment and
projects.
The fund is accounted for on the modified accrual basis of accounting. Revenues are
recorded when available and measurable, and expenditures are recorded when the
liability is incurred.
Debt Management
The existing debt payment schedule remains level through 2028 at approximately $1.9
million annually. Projects have been identified for a future debt issuance.
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