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FY 2007 PAFR.pdf

PAFR-2007.pdf

🔗 Source: static.auburnalabama.org

📊 Size: 522 KB

👤 Author: psmith

⬇️ Downloads: 49

Summary

The City of Auburn opened a $7 million line of credit in March 2007 for infrastructure development, increased to $8.8 million later, and plans to permanently finance it in fiscal 2008. A fifth fire station was constructed at a cost of $1 million and is expected to open in early fiscal 2008. The City contributed $6.8 million to the Auburn Board of Education and issued $5.2 million general obligation bonds to finance capital projects, including a new tennis center and library expansion. The City's fund balance increased by $381,191, and the total fund balance stood at 46% of expenditures, exceeding the goal of 20%. The City received an upgrade in its bond rating to AA from AA- by Standard & Poor's and had its Aa3 rating confirmed by Moody's Investors Service.

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Description

The City of Auburn opened a $7 million line of credit in March 2007 for infrastructure development, increased to $8.8 million later, and plans to permanently...

Technical Information

File Format: PDF
File Size: 522 KB
Pages: 4
Language: EN
Author: psmith
Total Downloads: 49
Last Updated: 1 month ago

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