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Debt Service Charges Forecasting Tool Online Workshop
Long-term debt is one of the tools that municipalities have available to pay for capital works. Long-term borrowing can provide many benefits but, like all tools, it is not without risk as excessive indebtedness can compromise financial sustainability and flexibility of municipal governments. Long-term debt is one of the tools that municipalities have available to pay for capital works. Long-term borrowing can provide many benefits but, like all tools, it is not without risk as excessive indebtedness can compromise financial sustainability and flexibility of municipal governments.
MFOA’s Municipal Debt Project was initiated as a response to questions from MFOA members regarding good practices around the use of debt, and recommended analytics to support decision-making around debt financing. The project’s goal is to build capacity for debt management in the Ontario municipal sector.
The Debt Service Charges Forecasting Tool, released on September 2021, is one of the project’s products. The tool can be used to forecast principal and interest payments of multiple serial and amortizer debentures.
In this online workshop, participants will get an overview of the terms and assumptions adopted to develop the debt service forecasting tool. They will also see a live demonstration of how to use the spreadsheet to generate the forecasts and interpret the results. Finally, participants will have the opportunity to pose questions about the spreadsheet.
What is the goal of the online workshop?
During the online workshop participants will learn how to use the tool to produce 20-year forecasts of principal and interest serial and amortizer debentures and interpret the forecasts generated.
What will you learn?
In the online workshop you will learn:
The definitions of the terms as well as the underlying assumptions of the calculations of the spreadsheet.
How to use the Amortizer P&I to forecast principal and interest payments of up to 20 different amortizer loans or debentures.
How to use the Serial P&I to forecast principal and interest payments of up to 20 different serial debentures.
How to interpret the results shown in the summary tab that shows the total amounts of principal and interest and how it relates to the annual repayment limit of the municipality.
Who should attend?
Municipal Finance staff of all levels interested in having a tool to facilitate the forecasting of principal and interest payments.
How long will the session last?
Damaris Lara, Policy Team Lead, MFOA
About your speaker
Craig Gillespie currently works for the City of Barrie as the Senior Manager of Corporate Finance and Investments. He is an actuary with 20 years experience in the public and private sectors in the UK and Canada. In his past life in the actuarial world, he was the pension lead in mergers and acquisitions, which, whilst fun, kept him away from his family too much. So he made his move to the municipal sector, joining the Region of York, where he supervised the debt issuance and investor relations work of the Region as well as overseeing its Fiscal Strategy. A new challenge at the City of Barrie presented itself recently and that is where Craig can now be found. He is a member of the Canadian Institute of Actuaries and the Society of Actuaries.
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