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CFO tells Lowell council FY2027 will include $3.3M debt-service increase; pension and OPEB remain major pressures
Summary
The city’s CFO reported an anticipated $3.3 million increase in FY2027 debt service (about $1.7M for school debt and $1.5M for other general fund obligations), a long-term debt balance of roughly $422 million and a pension funding schedule targeting full funding by 2037; OPEB remains a substantial long-term liability.
During the Dec. 16 meeting the City of Lowell’s chief financial officer briefed the council on FY2026 results and pressures for FY2027, including rising debt service and retirement-related liabilities.
The CFO said the scheduled increase in debt service for FY2027 is "just over $3,300,000," of which roughly $1,700,000 is related to school debt (largely the high…
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