debt service budget
Plan for paying local debts and interest through scheduled budgets.
Watch for whether the final city budget keeps the same levy increase and what specific past borrowing is driving the higher annual payments.
Typically discussed at Personnel and Finance Committee. Check back when the next agenda is published.
On Oct. 2, the Personnel and Finance Committee reviewed the 2026 debt-payment budget, including a $35,065 (1.37%) levy increase. Staff said the city is still under its self-set debt limit, even as annual payments rise.
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The committee reviewed a proposed 2026 debt service budget that would raise the levy by $35,065 (1.37%) compared to 2025.
Personnel and Finance Committee -
The proposed 2026 budget described general obligation principal and interest payments increasing by $46,953.
Personnel and Finance Committee -
Staff stated the city remained under its self-imposed debt limit (60% of the legal maximum) and projected the ratio would fall by the end of 2025.
Personnel and Finance Committee