Debt
City Makes Progress on Reducing Debt
As a result of the City Council's proactive approach to debt reduction and commitment to our strategic goal of being a high-performing government organization, the City has made substantial progress in reducing its outstanding debt. By the end of Fiscal Year 2024, the City's overall debt is estimated to have decreased by $423 million, or 41%. Notably, this achievement has been accomplished alongside a decreasing millage rate over the past eight years.
The debt review presentation from the February 2024 City Council Workshop is available below:
See Debt Review Presentation(PDF, 1MB)
Additional Information