Delaware County, Indiana
Long-Term Obligations
Long-term obligations activity for the year ended December 31, 2025, was as follows:
| Beginning Balance |
Increases | Decreases | Ending Balance |
Amounts Due Within One Year |
||||||
|---|---|---|---|---|---|---|---|---|---|---|
| Governmental Activities | ||||||||||
| Bonds and notes payable: | ||||||||||
| Revenue bonds, direct placements | $ | 2,880,000 | $ | - | $ | 265,000 | $ | 2,615,000 | $ | 280,000 |
| Tax increment financing bonds, direct placements | 18,851,237 | - | 1,525,689 | 17,325,548 | 1,447,688 | |||||
| Financed purchase | 1,101,604 | - | 259,308 | 842,296 | 262,719 | |||||
| Loans payable | 37,350,000 | - | 1,985,000 | 35,365,000 | 2,050,000 | |||||
| Subtotal | 60,182,841 | - | 4,034,997 | 56,147,844 | 4,040,407 | |||||
| Other liabilities: | ||||||||||
| Compensated absences | 1,064,281 | 213,634 | - | 1,277,915 | 1,277,915 | |||||
| Leases | - | 508,395 | 32,988 | 475,407 | 72,699 | |||||
| Other postemployment benefits | 7,834,832 | 790,588 | 1,767,269 | 6,858,151 | 535,500 | |||||
| Net pension obligation | 19,980,036 | 4,794,630 | 8,394,622 | 16,380,044 | - | |||||
| Subscription based agreements | 49,615 | 107,285 | 53,565 | 103,335 | 36,473 | |||||
| Total other liabilities | 28,928,764 | 6,414,532 | 10,248,444 | 25,094,852 | 1,922,587 | |||||
| Total governmental activities long-term liabilities | $ | 89,111,605 | $ | 6,414,532 | $ | 14,283,441 | $ | 81,242,696 | $ | 5,962,994 |
Revenue Debt
Governmental activities revenue bonds are payable from revenues derived from tax revenues.
The County has pledged future economic development income tax revenues to repay revenue bonds issued in 2014. Proceeds from the bonds provided financing for the construction, acquisition, renovation, installation and equipping the County's various projects. The bonds are payable from the County's distributive share of the economic development income tax, including the distributive shares from Albany, Daleville, Eaton, Selma and Yorktown and are payable through 2033. The total principal and interest remaining to be paid on the bonds is $3,136,429. Principal and interest paid for the current year was $390,268.
Revenue debt payable at December 31, 2025, consists of the following:
| Revenue Debt | Date of Issue |
Final Maturity |
Interest Rates |
Original Indebtedness |
Balance December 31, 2025 |
||
|---|---|---|---|---|---|---|---|
|
County Economic Development Income Tax Revenue Bonds, Series 2014 |
06/15/2014 | 12/01/2033 | 4.45% | $ | 4,645,000 | $ | 2,615,000 |
| Total governmental activities, revenue debt | $ | 2,615,000 | |||||