County Debt tops $1 BILLION

Current bond debt:
.
;
.
Agenda session explanation:
.

.
But there’s more:

In the 2016 Adopted Budget TOTAL COUNTY DEBT SERVICE for 2016 is estimated to be $63,456,556

That debt, according to the Annual Debt Statement as of 12/31/15 consists of:

All this totals to $673,226,573.93 which is defined as the Gross Debt on the Annual Debt Statement. From this amount the county deducts $102,878,461.94 consisting of:

  • Funds on hand: $9,034,461.94
  • UCIA Debt Guarantee: $87,045,000
  • Bonds for County College Capital Projects: $3,509,000
  • Refunding Bonds: $3,290,000

to get to the Net Debt amount of $570,348,111.99

What is not counted in the official debt:

Which means that when you add it all up and if the county has to make good on all guarantees (which in one case they are essentially doing with another likely) gross debt, based on the latest data available, comes to $1,008,611,573.93 less that $9,034,461.94 in cash on hand plus that $1,250,000 bailout to the UCIA for a grand total of:

$1,000,827,111.99

 

 

 

 

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One response to this post.

  1. Posted by ReadsLikeAMafiaBook on June 2, 2016 at 7:24 pm

    Union County Freeholders treat taxpayer money like monopoly money. Why? Cause they all have a scam going on IMO.

    Anyone going to address DeCotiis gross negligence (IMO) mis-representations in the solar scam? Not even its own client, the Union County taxpayers, cause no one speaks for them. EXHIBIT A Jonathan Williams, Esq. own words can nail a summary judgment action. DeCotiis is immune to a law suit because of political contributions. No one will act on behalf of Union County taxpayers.

    How many democrat connected people are padding their pensions, like the jerkoff Dan Sullivan running the UCIA now? He doesn’t care. Linda the Spender … does she care? No. Freeholder Bruce Bergen going to be elevated to a pension padding position … probably … most certainly IMO.

    No one is at the helm anymore. FF CC (fat fuck Chris Christie) too busy licking Trump’s bloody boots, whatever that means. A Trump Humper.

    It’s a anything goes form of government in NJ.

    And there we have it … no one in charge and no gives a shit.

    Reply

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