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City plans roughly $97 million in GO debt for FY26; finance warns market volatility could raise borrowing costs
Summary
City finance staff told the Budget Committee the FY26 CIP assumes about $97.4 million in general‑obligation borrowing — near the city’s debt capacity under current ratings — and outlined increased principal and interest costs, planned use of committed fund balance and market risks tied to federal policy and interest‑rate moves.
Finance briefed council members on capital financing plans for FY26 and the next five years, with officials saying the FY26 funding plan includes about $97,373,480 in general‑obligation (GO) bond authority plus planned sewer and stormwater revenue borrowing. The CIP presenter said that, “with our current bond rating, the 97 gets us right at our debt capacity,” and warned that a downgrade would reduce borrowing capacity or increase interest costs.
Andre Walker, a finance division debt presenter, summarized the FY26 debt and debt‑service budget. The debt group proposed total expenditures…
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