ATI response: Debt related to Parks and Recreation capital projects 2000-2004

C.A.P access request 05-1902

2000: Total approved capital projects; $50,513,000. Funded from debt: $42,395,000. Funded from “Other”:$8,118,000. Actual spent: $42,617,000.
2001: Total approved capital projects: $31,421,000. Funded from debt: 23,747,000. Funded from “Other”: $7,674,000. Actual spent: $39,749,000.
2002: Total approved capital projects: $29,205,000. Funded from debt: $10,712,000. Funded from “Other”: $18,493,000. Actual spent: $31,853,000.
2003: Total approved capital projects: $40,781,000. Funded from debt: $21,205,000. Funded from “Other”: $19,576,000 Actual spent: $44,659,000.
2004: Total approved capital projects: $64,931,000. Funded from debt: $17,330,000. Funded from “Other”: $47,601,000. Actual spent: $47,160,000.

Total approved capital budget 2000-2004: $217,148,000.
Total debt: $115,389,000.
Actual spending: $206,038,000. Amount of debt charges 2000-2004: $33,507,401

“The debt charges, while attributable to Parks and Recreation, are paid out of the corporate account ‘Non Program,’ and are not part of the department’s operating budget.”

Debt charges for Parks and Recreation capital projects:

• 2000: $1,803,759; interest rate: 6.25%
• 2001: $4,560,905; interest rate: 6.4%
• 2002: $5,819,184; interest rate: 5.05%
• 2003: $10,149,499; interest rate 5.12%
• 2004: $11,174,054; interest rate 4.95 %