2012 Comprehensive Annual Financial Report - City of Oklahoma City

DIRECT AND OVERLAPPING DEBT (1)
June 30, 2012
(dollars are in thousands)
CITY OF OKLAHOMA CITY, OKLAHOMA
TABLE 14
Net General
Bonded Debt
Outstanding (2) (3)
Percentage
Applicable to
Oklahoma City (4)
Amount Applicable
to Oklahoma City
Banner Schools
$50 17.46%
$873
Canadian County
- 40.85
-
Choctaw Schools
16,820 11.42
1,921
Cleveland County
- 24.51
-
Crooked Oak Schools
1,160 100.00
1,160
Crutcho Schools
874 5.35
47
Deer Creek Schools
13,675 61.48
8,407
Eastern Oklahoma County Vo-Tech
760 12.38
94
Edmond Schools
84,435 39.66
33,487
Francis Tuttle Vo-tech
- 58.53
-
Harrah Schools
2,466 4.97
123
Jones Schools
706 33.42
236
Little Axe Schools
795 18.74
149
Luther Schools
2,000 4.29
86
McLoud Schools
219 33.66
74
Midwest City Schools
27,460 38.59
10,597
Millwood Schools
565 89.55
506
Moore Schools
73,410 54.58
40,067
Mustang Schools
22,755 77.68
17,676
Norman Schools
41,920 77.97
32,685
Oakdale Schools
3,290 99.69
3,280
Oklahoma City Schools
134,450 86.95
116,904
Oklahoma County
61,286 67.09
41,117
Piedmont Schools
5,150 35.49
1,828
Putnam City Schools
39,250 85.17
33,429
Robin Hill Schools
155 18.18
28
Rose State College
6,800 31.64
2,152
Union City Schools
403 1.87
8
Western Heights Schools 13,275 99.94
13,267
Yukon Schools
19,475 33.38
6,501
573,604 366,702
Oklahoma City 509,460 100.00%
509,460
Total direct and overlapping debt
$1,083,064 $876,162
(1)
(2)
(3)
(4)
Other overlapping jurisdictions identified in Table 9 have no net debt for the period shown.
Net debt outstanding is the total outstanding general obligation bonds less the reserves restricted for the repayment of principal in the Debt Service Fund. The
outstanding debt balance and debt service fund restricted reserves used in this table are for the 2011-2012 tax year levy. Therefore, the net debt outstanding for the City
of Oklahoma City (City) does not agree with the June 30, 2012, financial statements. Restricted reserves are created and accumulated through the property tax levy
(per applicable Oklahoma Statutes) to insure that funds are on hand when debt service payments are due.
All debt shown in the schedule is repaid with property taxes. The source for bonded debt outstanding for jurisdictions other than Oklahoma City is the Oklahoma State
Board of Equalization.
The percent applicable to Oklahoma City is determined by the School district's proportionate share of the total City assessed valuation as provided by the Oklahoma
State Board of Equalization.
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