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Additiollid II1fOrrllnttl(irl 015 the County,' QaPit"d awsels curl be kmild in noic 0 (C) I[Ic 17osi4 flmiliciBl
<br />atatclncrlt4.
<br />Long-term debt. Long-term debt is primarily comprised €arbonds of $473.3 million and State
<br />Revolving fund loans of $44 2 liiilliorl, At tlic end of thi: c4rrrcnt fiscal year, the C 01,1110 had total
<br />borldL:ci &H outstanding of'S4 3 _i rliilllou. This entire iniount was comprised of general
<br />obligation M�ds %%h1cli ally Ll-i�:kM L>) the full faith and credit of -the C mInty.
<br />The Count,'s total banded debt increased by $91).9 million (: 7 percent) during the current I I XiLl
<br />year, Mmdi rL:presclits thv gciwraf ()blift�ltloll C)CS99 rtLilli011 1111t 1�,SkWd in to
<br />the $28.5 million in bond anticipation notr.s. Hicsc increases offset b} rcL..ularly Schc•d4Lfcd
<br />principaI pRyniems ofS=.T7 mi11ioa).
<br />At tlic cold of'tlic fiscal year, thu Comity ]leld ail "AA-" rating from Standards & Poor's, an
<br />L'AA+" rating fr--11n f.110i Arid an "M2` ri,ltiiv. Cron) N9ooc!5's for general € Nigation debt.
<br />Stal!0 statrltes limit IhC alnciunt of general obligation &bt the County may issue up to I'� pci-cent
<br />of the total Possessed value ofall count,, real property tB e.stitbli�,Iwd for lax prlrpo�,�:� om the ILIst
<br />tax asacssriicnt rolls, f liv �urri;nt &W llmllt:Ltirno for 11)e Ls .6 billion, }yhi, h i;y in c xLes>
<br />of tl)c CnLinty's outstandini general obligation debt. Cm-rclltly tllc C'vurtt,'s out,1,lndinl . dtJ51
<br />reprcw€;nts 7 puccllt Cif L}4n debt 11mitats01"I,
<br />Add lliomll inforn)ation on the County's long-term debt can be f0411ld ill mole l 1 to the basic
<br />financial statements.
<br />EC.'C}NC)MIC FACTORS .AND N)F: `I' YVAR'S BUDGETS AND RATES
<br />a ThI2 LLlIel7of)10',r,Lent r,,te for the C'o4rl)ty il,t the L:lld OCtllL: rr,LlrrL;n1 fiWal �(L.ir is at
<br />appromITIatel; 3.8 percent, Wiich k .fi percent lower than tit the cnd cif the prior fiscal
<br />ciir This *,erve: ais an indicatiGill oC fllc. inlPTuVirltP� CConorriEC outlook far the island.
<br />I ile i)umber oCclornestic and iritc:rnationral visitors to 11he Count, for the current fiscal
<br />year way appromi1'latel} f, 14 I11rilloiL, i ith an approxirnately E5 Percent increase fr€ern the
<br />pr0,iOLI', ),c{lr's c:o4rrll of 1,5; million, %�,hich further demonstrates that the County is
<br />ti;l:}til)[IME! M benefit ti-orn improving econcilnic conditions.
<br />At the end cif the current fiscal year, tpltrestrict�ci fund hnlance in ;he general Lund was $1 12.3
<br />ill iIkull bile Coullt} El;'L sJppr'opriated U6.4 million of this anl01.11)t for spcndln-,, ill t1ic �0?4
<br />fiscal '.ear budget and the Lna_iorit} is iiiwludcd in the assigricd portion ofthe fiend h,alance.
<br />R F'QL FSTS FOR 1NVORf4 A TION
<br />7'h6 finsincl al report is de�,igned to provide a general overvi€:}k of the C aunty's firianccs for all
<br />those with art intcrc.s1 in diL: --,o%-crrlmr:rlVs fi(L}llicL:S. QLlesti0nw concerning an), ofthe information
<br />provided in this report or requests for additional information. slicmld lac iiddresscd to thou Uircctor
<br />oF} inant:c, C'()Ll1Lt% Of' HjIWIII'l, 25 ALllnlni Strect, Suite 2103, Hilo, 1 96720.
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