Page 219 - 2018 Comprehensive Annual Financial Report - City of Winston-Salem

City of Winston-Salem, North Carolina
Legal Debt Margin

Last Ten Fiscal Years
(dollars in thousands) Table 16

Total Net Debt
Applicable to the
Less: Total Net Limit as a
Fiscal Debt Applicable Legal Debt Percentage of
Year Debit Limit to Limit Margin Debt Limit

2018 $ 1,753,139,497 $ 165,672,415 $ 1,587,467,082 9.45%
2017 1,662,329,520 105,205,256 1,557,124,264 6.33
2016 1,629,538,827 114,918,662 1,514,620,165 7.05
2015 1,599,515,050 62,710,031 1,536,805,019 3.92
2014 1,584,899,136 73,164,393 1,511,734,743 4.62
2013 1,737,077,607 76,883,451 1,660,194,156 4.43
2012 1,701,258,681 76,431,537 1,624,827,144 4.49
2011 1,706,839,758 80,861,457 1,625,978,301 4.74
2010 1,720,961,866 87,362,420 1,633,599,446 5.08
2009 1,605,054,284 78,883,214 1,526,171,070 4.91

Legal Debt Margin Calculation for Fiscal Year 2018

Assessed value $ 21,914,243,709

Debt Limit (8% of assessed value) 1,753,139,497

Debt applicable to limit:
General obligation bonds 190,636,492
Less statutory deduction:
Debt service fund (24,964,077)
Total net debt applicable to limit 165,672,415
Legal debt margin $ 1,587,467,082

213