City Costs for School Debt The issuance of debt is a function of the city and cannot be granted to the School Department. However, school officials work in collaboration with the City to prioritize needs and hence, fund projects that benefit all city departments. The City Finance team and Executive office recommend different sources of funds to be used to cover different projects that are voted on based on the city’s financial guidelines and outlook. In the annual DESE report to the state, the school department reports all school related debt as part of the end of year report submission. In FY26, the debt payments are estimated to total $22.6M on previously issued debt that is directly related to school projects. A summary of school related principal and interest debt payments over the past 10 years is shown below.
In FY25 , Newton’s general fund debt service accounted for 5.06 % of the city’s $ 525 budget. In FY26 ’s recommended city budget, debt & interest accounts for 5.06% or $28.8M of the $547M budget. Of this total debt service payments budgeted, NPS accounts for $22.6M or 78%. Additional information on the City’s debt can be found on the City’s Website under Comptroller. The city expenses are described in the Comptroller Section under the City of Newton.
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