Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Davenport tells Annapolis council city can afford CIP but borrowing will approach policy limits
Summary
Davenport & Company told the Annapolis City Council that, under conservative assumptions, the city's planned fiscal '27''32 capital borrowing fits within policy ranges but will push debt-service close to the council's 10% target in several years, leaving limited additional capacity without changes to the CIP or expenditure growth.
Jennifer Dirksen, senior vice president at Davenport & Company, told the Annapolis City Council on April 30 that the firm's debt-capacity analysis shows the city can finance its planned capital-improvement program but will be close to policy limits in the coming years.
Davenport presented the city's tax-supported debt picture and projections for new issuances tied to the preliminary FY27'FY32 CIP. Dirksen said the city has about $102,000,000 in outstanding tax-supported debt and that, based on conservative assumptions (4.5% assumed for FY27 and 5% thereafter), cumulative estimated debt service for the proposed issuances would be roughly $151,300,000 over the multi-year…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
