Computation of a city’s debt burden
The following information is extracted from a city government’s CAFR. Compute the city’s debt burden based on population and on full value of taxable real property. Make separate computations for (a) net direct debt and (b) combined net direct and overlapping debt.
| Net direct debt | $ 15,841,000 |
| Overlapping debt | $ 12,142,000 |
| Population | 13,243 |
| Full value of taxable real property | $484,481,000 |
Instructions:
- Round debt per capita to the nearest whole number.
- Round debt as a percent to one decimal place (ex: 0.0345 = 3.5%).
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Computation of a city’s debt burden
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