Local debt obligations increase in 2018

    REGIONAL – Outstanding debt obligations for local governmental agencies increased in the past year, following the state trend that saw an overall increase in debt, according to a report released by the state treasurer’s office.
    Shelby County saw it’s total debt obligations increase from $35,735,239 in 2017 to $39,402,568 in 2018.  Much of the reported debt can be attributed to the City of Harlan/Harlan Municipal Utilities and Harlan Community Schools, as well as the Exira-Elk Horn-Kimballton Schools.  (see accompanying table)
     State Treasurer Michael L. Fitzgerald reports that outstanding debt obligations for state and local governments in Iowa totaled $16.3 billion as of June 30, 2018. Overall, this represents an increase of 2.9 percent over last year, which is similar to last year’s increase.