The County utilizes a long-term financial model as an effective tool in determining the affordability of funding the capital needs of the County, and it required capital funding for the Wake County Public School System, Wake Technical Community College, and the North Carolina Courts System.
The model seeks to balance expenditure and resources available so that needs are met while adhering to guidelines and policies, as outlined in the County's Adopted Budget and Comprehensive Annual Financial Report. The County issues debt to maximize available resources to meet its capital funding needs. The types of debt currently issued include:
- General Obligation Debt - Debt approved by the voters via referendum, backed by the full taxing authority of the County
- Limited Obligation Debt - Debt approved by the Board of Commissioners, backed by annual appropriations to support the debt service payment and the asset as collateral
- Installment Financing - Short-term debt approved by the Board of Commissioners, backed by annual appropriations to support the debt service payment and the asset as collateral
All debt issuances are reviewed and subject to approval by the NC Local Government Commission.
The following link provides information on all prior and outstanding debt owned by Wake County.