Financial Reporting

Debt

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Debt

Below is a chart representing history of the City of Ann Arbor's General Obligation debt and Accrued Compensated Absences.  The increase in structured debt for 2009 was due to the sale of bonds for the construction of the Court/Police Building.  This annual debt service will be paid from the savings of rent costs for leased facilities now located in the new building, transfer from the Downtown Development Authority and a court facility fee. The increase in 2010 reflects the sale of bonds for the DDA construction of the Fifth Avenue underground parking structure and related improvements. This annual debt service will be paid by the Downtown Development Authority from parking revenues collected in the structure. The City does not issue debt to finance ongoing operations.  The structured debt represents bonds sold for capital improvements and does not included any revenue bonds related to Water and Sewer projects, which are not supported by tax dollars. 

Employee compensated absences represent the liability for the accrued vacation, sick and compensatory time off for City employees. 

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