Camp Verde’s government debt was lower than most other communities in the Verde Valley and Arizona at the end of the last fiscal year, according to a state report.
The town had $2.7 million in total debt, which figures out to be $249 per resident, ranking it 62nd and 74th, respectively, among 91 municipalities listed in the report.
The Camp Verde Unified School District had $1.8 million in total debt [102nd among the state’s school districts], which comes to $1,315 per student [112th]. There were 150 districts listed in the report.
By comparison, the city of Sedona had $46.6 million in debt, which is $4,650 per resident — the seventh-highest rate among Arizona’s cities and towns.
The Sedona-Oak Creek School District ranked second in per-student debt at $46,673. Only Buckeye paid more to educate each of its students —$50,842. SOCSD’s total debt of $54.2 million ranked 22nd highest.
The Arizona Department of Revenue provides an annual accounting of debt among the state’s counties, cities, towns, school districts, state agencies, universities, special districts and other political subdivisions — in all, 1,135 submitted reports.
Bond debt consists of general obligation bonds, revenue bonds, municipal property corporation bonds, certificates of participation, impact aid revenue bonds, and special assessment or special district bonds, according to the report. Lease purchase or third-party financing contracts represent debt of the political subdivision if they are for longer than one year.
The most recent report, issued in December, covered fiscal year 2014, which ended June 30.
A copy of the 284-page report can be found on azdor.gov.
To read the full story, see the Wednesday, April 15, edition of The Camp Verde Journal.
