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Durham staff unveil 10‑year CIP model as council weighs funding choices
Summary
City staff presented a 10‑year capital improvements plan and a new cash‑flow debt model that incorporates grants and fees; finance director warned price escalations and new project requests could push the debt service fund negative by 2030 unless council narrows priorities or increases revenue.
City staff presented a draft 10‑year capital improvement plan and a new cash‑flow debt model at a budget retreat, saying the tool will give council a clearer long‑range picture while stopping short of committing to future appropriations.
The finance director, Tim Flora, told the council the updated model goes beyond a debt‑focused view and accounts for fees, grants and other revenue so staff can “drop something in a future year and see the impact that it will have.” He said the city’s overall debt portfolio has topped $1 billion, with about $394 million in governmental debt and roughly $614 million tied to utilities. “We are right on target” for several metrics, he said, citing a debt‑to‑operating‑expense ratio of about 16.5% and a…
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