The Perry County Commission has released its debt service financial statement for Fiscal Year 2024- 2025, outlining the county’s outstanding liabilities, including warrants payable, capital leases, and other long-term debt obligations. The statement was published in full on Page 6 of this week’s Times-Standard-Herald.
The report details Perry County’s ongoing debt payments, including principal and interest amounts due over the next fiscal year. The total long-term debt for the county amounts to approximately $7.48 million. This figure includes capital improvement bonds, leases for essential equipment, and other long-term obligations.
Perry County’s financial obligations include several general obligation (GO) warrants issued for capital projects and infrastructure improvements. Notably:
- A 2007 GO Warrant for capital improvements has a remaining balance of $480,000, with $30,000 due in principal payments this fiscal year.
- A 2010-A GO Warrant issued for the county’s hotel bond has a principal balance of $1.39 million, with $153,575 in interest payments due this year.
- The 2010-B GO Warrant, allocated for courthouse renovations, holds a balance of $620,000, with $141,649 in principal due in FY 2025.
The report also highlights a 2019 GO Warrant for gas tax equipment with a remaining principal balance of $1.07 million, alongside a State Gasoline Tax Anticipation Warrant, funded by the USDA, which has an outstanding principal of $431,691.76.
The statement further identifies capital lease obligations for Perry County. The 2007 PBA Jail Lease for $2.71 million is the largest capital lease, with $185,000 in principal payments scheduled this year. Additionally, equipment purchased through government lease contracts adds to the county’s liabilities:
- A 2025 Mack Truck (Lowboy) lease totals $40,508 in principal due this year.
- A 2024 Mower Max lease has a principal payment of $45,492 scheduled.
- Three Kenworth T880S Dump Trucks under a lease-purchase agreement account for $157,732 in principal payments.
The county’s total annual debt interest payments amount to $543,668.32 for the fiscal year. Principal payments due within the year total $755,332.41, while the county’s longterm debt portion remains $7,483,916.11.
The Perry County Commission noted that debt service payments are budgeted primarily through general and gasoline funds. Chairman Albert Turner, who signed off on the statement, noted that the figures represent the financial condition of Perry County.
In the report, the Commission also addressed the need for additional decisions regarding certain payments, including capital lease obligations for a 2005 Knuckleboom, stating that only one payment has been made so far for FY 2024.
