2024 Annual Comprehensive Report

The future lease obligations and the net present value of these lease payments as of June 30, 2024, were as follows:

Government Activities: Fiscal Year

Principal

Interest

Total

2024-25 2025-26 2026-27 2027-28 2028-29 2030-34 2035-39

$

5,753,999 4,915,417 2,424,347 1,370,034 682,559 4,024,321 1,961,824 21,132,501

$

385,082 290,953 214,424 171,602 148,388 506,727 95,052

$

6,139,081 5,206,370 2,638,771 1,541,636 830,947 4,531,048 2,056,876 22,944,729

$

$

1,812,228

$

Business Activities: Fiscal Year

Principal

Interest

Total

2024-25 2025-26 2026-27 2027-28 2028-29

$

241,432 239,295 90,378 23,412 10,856 605,373

$

13,008 6,708 1,763

$

254,440 246,003 92,141 23,991 10,954 627,529

579

98

$

$

22,156

$

The future lease obligations and the net present value of these lease payments for the ABC Board as of June 30, 2024, were as follows:

Lease

Interest Payments

Payments

Total

Fiscal Year

2024-25 2025-26 2026-27 2027-28 2028-29 2030-34 2035-39 2040-44

$

467,117 459,921 403,506 431,694 400,427

$

193,418 178,262 164,256 150,658 137,007 487,023 267,846 90,830

$

660,535 638,183 567,762 582,352 537,434

1,762,773 856,860 940,078 5,722,376

2,249,796 1,124,706 1,030,908 7,391,676

$

$ 1,669,300

$

7. IT Subscription Financing Agreements The City has entered into various Right to Use IT Subscription Asset agreements. These IT Subscription agreements qualify as other than short-term IT Subscription Assets under GASB 96 and, therefore, have been recorded at the present value of the future lease payments as of the date of their inception.

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