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Calculate debt service burden and rate of debt payback Assume the following information was derived from the fund financial statements prepared by the city of
Calculate debt service burden and rate of debt payback Assume the following information was derived from the fund financial statements prepared by the city of Tallahassee, Florida for the fiscal year ended September 30 , 2019: Assume the city of Tallahassee's total tax-supported debt service expenditures in fiscal year 2019 were $11,116 thousand. The schedule of debt service requirements in the notes to the 2019 financial statements showed that Tallahassee's total governmental activity debt was $145,149 thousand, of which $52,521 thousand was scheduled to be paid off between 2020 and 2024 , $24,465 thousand was scheduled to be paid off between 2025 and 2029 , and the remainder was scheduled to be paid off between 2030 and 2039 . Calculate the following for the city of Tallahassee: Round all percentages to one decimal. a) debt service burden b) percentage of debt principal payback in the next five years c) percentage of debt principal payback in the next ten years
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