Transparency on budget

Idea:

I know the City has a thorough annual budget. Could some of the budget background be on this site? For example, if I wanted to know how much debt is still outstanding on our city hall construction and how much we pay on it each year, how would I find that out? But mostly thanks for this site. It is very useful. Happy 4th of July!

Staff feedback:

Many communities utilize their engagement pages for the budgeting process and to provide related documents. This may be a good opportunity for the City of Rehoboth Beach to explore during the budget season. Thank you for the suggestion.

Related to your specific questions, JP Morgan Chase holds the loan on City Hall construction at a fixed rate of 1.61%. The current balance is $14,402,312.71. The loan is being reduced by more than $315,000 with each quarterly payment, and the amount of reduction increases with each payment. The loan matures in January 2037.