Question
Calculate debt burden The statistical section of the city of Tallahassees CAFR for the fiscal year ended September 30, 2019 contains several schedules regarding the
Calculate debt burden
The statistical section of the city of Tallahassees CAFR for the fiscal year ended September 30, 2019 contains several schedules regarding the citys outstanding debt.
Assume one schedule shows that the outstanding tax-supported debt at September 30, 2019 was $125,080 thousand. Other schedules show the following statistics:
The statistical section of the city of Tallahassees CAFR for the fiscal year ended September 30, 2019 contains several schedules regarding the citys outstanding debt.
Assume one schedule shows that the outstanding tax-supported debt at September 30, 2019 was $125,080 thousand. Other schedules show the following statistics:
| Statistics | ||
|---|---|---|
| Assessed value of all real property in the city | $16,544,398 | thousand |
| Taxable assessed value of property (after exemptions) | $9,556,112 | thousand |
| Estimated actual value of taxable property | $19,470,152 | thousand |
a) Calculate the citys debt service burden using the appropriate real property value as the denominator. Round the percentage to two decimals. Answer% b) Based solely on the debt service burden, what rating would Moody's give the city of Tallahassee?
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Managerial Accounting for Managers
Authors: Eric Noreen, Peter Brewer, Ray Garrison
2nd edition
978-0077403485, 77403487, 73527130, 978-0073527130
