City of Plymouth Proposed 2022-2023 Budget - Flipbook - Page 263
CITY OF PLYMOUTH
Schedule of City OPEB Contributions:
2021
2020
2019
$580,389
$491,214
$590,263
$539,082
$926,180
580,389
491,214
648,287
527,324
641,891
$0
$0
($58,024)
$11,758
$284,289
$3,294,820
$3,294,820
$3,226,054
$3,206,966
Actuarially determined contribution
Contributions in relation to the actuarially
determined contribution
Contribution Excess (Excess)
Covered Employee Payroll
Contributions as a Percentage of
Covered Employee Payroll
N/A
N/A
2018
$2,967,630
N/A
N/A
2017
N/A
Source: Audited Financial Statements
DEBT STATEMENT:
As of December 31, 2021
Bonds
DIRECT DEBT
Dated
General Obligation Bonds:
Refunding, LT, Utilities
04/19/2012
Refunding, UT, Highway Road
04/19/2012
Capital Improvement, LT
01/28/2015
Street Improvement, UT
04/01/2020
TOTAL DIRECT DEBT
OVERLAPPING DEBT
Percent
Municipality
9.41%
Plymouth Canton S/D
1.41%
Wayne County
1.39%
Wayne I/S/D
3.98%
Schoolcraft Community College
24.60%
Plymouth District Library
NET OVERLAPPING DEBT
NET DIRECT AND OVERLAPPING DEBT
Source: Municipal Advisory Council of Michigan
Final
Maturity
Amount
Outstanding
02/01/2023
04/01/2024
10/01/2024
04/01/2030
$135,000
3,030,000
1,245,000
5,625,000
$10,035,000
Amount
Outstanding
$257,165,000
203,433,180
0
45,270,000
0
City's
Share
$24,199,227
2,868,408
0
1,801,746
0
$28,869,380
$38,904,380
DEBT RATIOS:
Per Capita (based on 2020 U.S. Census population)
Net Direct Debt
Net Direct and Overlapping Debt
Ratio to Taxable Value - 2021
Net Direct Debt
Net Direct and Overlapping Debt
Ratio to SEV - 2021
Net Direct Debt
Net Direct and Overlapping Debt
Ratio to Est. True Cash Value - 2021
Net Direct Debt
Net Direct and Overlapping Debt
9,370
$1,070.97
$4,152.01
$636,043,215
1.58%
6.12%
$856,621,300
1.17%
4.54%
$1,713,242,600
0.59%
2.27%
LEGAL DEBT MARGIN:
State Equalized Valuation - 2021
Debt Limit - 10% of State Equalized Valuation
$856,621,300
$85,662,130
Amount of Direct Debt Outstanding
Less: Special Assessment Bonds
Amount of Direct Subject to Limitation
LEGAL DEBT MARGIN
City of Plymouth Annual Disclosure
$10,035,000
0
10,035,000
$75,627,130
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