Quick Facts About Debt Dashboard
Issuing debt (Borrowing Money) is a method that Buncombe County can use to meet capital needs. Buncombe County can only issue debt in accordance with state law, federal law, under the guidance and approval of the Local Government Commission, and in adherence with internal debt policies.
County debt can only be issued for capital costs (like a new building or roof) and not operating costs (like office supplies, travel, salaries, utility bills, etc.)
Common types of debt include:
General Obligation (GO) Bonds: Debt approved by Buncombe County voters via referendum that is secured by a promise to levy taxes in an amount necessary to pay debt service.
Limited Obligation Bonds (LOBs): An Installment Purchase Type Debt that does not require voter approval and that is secured by the property or a portion of the property being financed.
Installment Financing: Typically shorter-term debt, often structured as a bank loan, which is secured by the property or a portion of the property being financed.
Time Period
The time period represented in the data set is shown at the top of the dashboard. Note that the sources used within this dashboard become available at various times throughout the year. Therefore, different pages will be reporting on different fiscal years depending on the availability of the data at the time.
Definitions
- Issuance: A contract entered into to borrow money.
- Fund: A grouping of related accounts used to maintain control over resources that have been segregated for specific activities or objectives.
- Project: Project is the specific plan for the allocated funds. For example, Owen High School Track Replacement.
- Purpose: Issuances are allocated to purposes based on their use. Purposes can be thought of as a high-level view of projects. For example, Public Schools.
- Refunding: Occasionally, previous issuances are refinanced through another issuance to achieve debt service savings.
- Debt Service: The money needed to fully repay a loan, including principal and interest.