Debt
City makes progress on reducing debt
As a result of City Council's proactive approach to debt reduction and commitment to our strategic goal of being a High-Performing Government Organization, the City has made substantial progress in reducing its outstanding debt.
By the end of Fiscal Year 2025, the City's overall debt is estimated to have decreased by $460 million, or 44%, from its peak in 2010. Notably, this achievement has been accomplished alongside a decreasing millage rate over the past 11 years.
The presentation from the July 2026 City Council Workshop is available below:
See Debt Review Presentation(PDF, 2MB)
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