Post by Logan on Feb 7, 2016 3:07:01 GMT -6
Arizona governments and other public entities continued to reduce their indebtedness last year. Borrowing has slowed considerably since the boom years prior to the recession.
Like consumers wary about bloated credit-card balances, government entities throughout Arizona have been reluctant to take on more new debt.
The trend continued last year with public-sector borrowers paying down a bit more than they took on in new borrowings, according to a recent report from the state Treasurer's Office.
The level of overall indebtedness by public entities in Arizona eased to $42.5 billion last year from $42.9 billion in 2014 — the third decline in four years since debts peaked at $44 billion in 2011. The latest figures reflect borrowings and long-term leases incurred by state agencies, counties, cities, education systems and other public groups through the latest fiscal year, which ended June 30, with the report drafted in December.
Statewide debts had escalated sharply during Arizona's high-growth years prior to the recession but have declined modestly since then. The last few years also have brought lower interest rates and stable, if not improved, credit ratings for government entities.
Read more: www.azcentral.com/story/money/business/economy/2016/02/06/arizona-governments-still-cutting-back-debt/79702308/
Like consumers wary about bloated credit-card balances, government entities throughout Arizona have been reluctant to take on more new debt.
The trend continued last year with public-sector borrowers paying down a bit more than they took on in new borrowings, according to a recent report from the state Treasurer's Office.
The level of overall indebtedness by public entities in Arizona eased to $42.5 billion last year from $42.9 billion in 2014 — the third decline in four years since debts peaked at $44 billion in 2011. The latest figures reflect borrowings and long-term leases incurred by state agencies, counties, cities, education systems and other public groups through the latest fiscal year, which ended June 30, with the report drafted in December.
Statewide debts had escalated sharply during Arizona's high-growth years prior to the recession but have declined modestly since then. The last few years also have brought lower interest rates and stable, if not improved, credit ratings for government entities.
Read more: www.azcentral.com/story/money/business/economy/2016/02/06/arizona-governments-still-cutting-back-debt/79702308/