Financial Reporting

Debt

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​Debt

Below is a chart representing a history of the City of Ann Arbor's General Obligation debt and Accrued
Compensated Absences. The increase in 2019 reflects the sale of bonds for the DDA pedestrian
improvements to Huron Street and William Street. This annual debt service will be paid by the Downtown
Development Authority (DDA) from tax revenues captured for the DDA. 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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