Wilton: Third highest debt per capita in DRG-A
At $3,981, the town of Wilton had the third-highest long-term debt per capita in its DRG-A district reference group in fiscal year (FY) 2015, according to the Connecticut Office of Policy Management (OPM)’s Municipal Fiscal Indicators report.
District reference groups are used by the Connecticut Department of Education to classify local public school districts together based on the similar socioeconomic status of their students.
Long-term debt was among the selected demographic and economic data included in the OPM’s report, which covered fiscal years 2011 through 2015 and was released in January 2017.
The report defines long-term debt as “long-term liabilities associated with governmental activities,” including “bonds and notes for which the municipality has pledged its full faith and credit, capital lease obligations and the portion of regional school district debt, if any, for which the town is responsible.”
Debt per capita is calculated by dividing a municipality’s total long-term debt by its population for a given year. In FY15, Wilton had a population of 18,714 and its long-term debt was $74,505,725, according to the report.
Connecticut’s long-term debt in FY15 was $8,697,965,041, reflecting an average debt per capita of $2,430.
According to information the OPM provided to The Bulletin last week, Wilton’s long-term debt for FY16 had risen to $83,700,219. With 18,560 residents that year, according to the Connecticut Department of Public Health, Wilton’s debt per capita was approximately $4,510.
As for FY17, that audit report of Wilton is due “at the end of the month but has not been submitted to date,” OPM public information officer Chris McClure told The Bulletin on Dec. 14.
At $6,066, New Canaan had the highest debt per capita in DRG-A and the entire state in FY15.
Weston had the second-highest debt per capita in DRG-A and the 10th highest in the state, at $4,205.
Wilton’s $3,981 debt per capita was the third highest in DRG-A and the 12th highest in the state.
The debt per capita for the other DRG-A towns was as follows:
- Westport: $3,901 (13th highest in the state).
- Easton: $3,762 (14th highest in the state).
- Darien: $3,554 (16th highest in the state).
- Ridgefield: $3,129 (27th highest in the state).
- Redding: $2,409 (50th highest in the state).
Wilton had the fifth-highest debt per capita in Fairfield County in FY15.
At $5,830, Stratford had the second-highest debt per capita in both the county and the entire state, and Bridgeport had the county’s third-highest debt per capita, at $4,388 — the seventh highest in the state.
The city of Shelton had the lowest debt per capita in Fairfield County at $1,251 — the 108th highest in the state.
The other Fairfield County towns, excluding those in DRG-A, fared as follows:
- Fairfield: $3,143 (26th highest in the state).
- Stamford: $3,044 (28th highest in the state).
- Trumbull: $2,483 (44th highest in the state).
- Norwalk: $2,445 (47th highest in the state).
- Newtown: $2,322 (53rd highest in the state).
- Monroe: $2,321 (54th highest in the state).
- Sherman: $2,268 (58th highest in the state).
- Greenwich: $2,080 (64th highest in the state).
- Brookfield: $2,058 (66th highest in the state).
- New Fairfield: $1,775 (78th highest in the state).
- Danbury: $1,742 (80th highest in the state).
- Bethel: $1,366 (103rd highest in the state).
The OPM’s Municipal Fiscal Indicators reports are available here.