Local debt obligations decline in 2017

    REGIONAL – Outstanding debt obligations for local governmental agencies decreased slightly in the past year, bucking 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 drop from $36,700,893 in 2016 to $35,735,239 in 2017.  Much of the reported debt can be attributed to the City of Harlan/Harlan Municipal Utilities and Harlan Community Schools.  (see accompanying table)
     State Treasurer Michael L. Fitzgerald reports that outstanding debt obligations for state and local governments in Iowa totaled $15.8 billion as of June 30, 2017. Overall, this represents an increase of three percent over last year, which is the largest increase in debt obligations in the last four years.
    All political subdivisions, instrumentalities and agencies of the state are required to disclose outstanding long-term obligations, including bonds, notes, capital leases and loans, to the state treasurer annually.