25LINKBUDGET(FULL) - Flipbook - Page 266
CITY OF PLYMOUTH
Schedule of City OPEB Contributions:
2023
Actuarially determined contribution
2022
2021
2020
2019
$1,096,864
$479,259
$580,389
$491,214
$590,263
1,096,864
479,259
580,389
491,214
648,287
$0
$0
$0
$0
$2,400,541
$2,822,190
$3,294,820
$3,294,820
Contributions in relation to the actuarially
determined contribution
Contribution Excess (Excess)
Covered Employee Payroll
($58,024)
$2,967,630
Contributions as a Percentage of
Covered Employee Payroll
N/A
N/A
N/A
N/A
Bonds
Dated
Final
Maturity
04/19/2012
01/28/2015
04/01/2024
10/01/2024
$1,010,000
425,000
04/01/2020
04/01/2030
4,535,000
Amount
Outstanding
$301,330,000
39,755,579
0
49,360,000
0
City's
Share
$28,656,483
552,603
0
1,994,144
0
N/A
Source: Audited Financial Statements
DEBT STATEMENT:
As of December 22, 2023
DIRECT DEBT
General Obligation Bonds:
Refunding, UT, Highway Road
Capital Improvement, LT
Street Improvement, UT
Amount
Outstanding
TOTAL DIRECT DEBT
$5,970,000
OVERLAPPING DEBT
Percent
Municipality
9.51%
Plymouth Canton S/D
1.39%
Wayne County
1.36%
Wayne I/S/D
4.04%
Schoolcraft Community College
25.07%
Plymouth District Library
NET OVERLAPPING DEBT
NET DIRECT AND OVERLAPPING DEBT
Source: Municipal Advisory Council of Michigan
$31,203,230
$37,173,230
DEBT RATIOS:
Per Capita (based on 2020 U.S. Census population)
Net Direct Debt
Net Direct and Overlapping Debt
Ratio to Taxable Value - 2023
Net Direct Debt
Net Direct and Overlapping Debt
Ratio to SEV - 2023
Net Direct Debt
Net Direct and Overlapping Debt
Ratio to Est. True Cash Value - 2023
Net Direct Debt
Net Direct and Overlapping Debt
9,370
$637.14
$3,967.26
$731,278,070
0.82%
5.08%
$947,037,100
0.63%
3.93%
$1,894,074,200
0.32%
1.96%
LEGAL DEBT MARGIN:
State Equalized Valuation - 2023
Debt Limit - 10% of State Equalized Valuation
$947,037,100
$94,703,710
Amount of Direct Debt Outstanding
Less: Special Assessment Bonds
Amount of Direct Subject to Limitation
LEGAL DEBT MARGIN
City of Plymouth Annual Disclosure
$5,970,000
0
5,970,000
$88,733,710
Page 6 of 7
