Allegheny County Controller Chelsa Wagner said Thursday one of the most concerning issues facing the county is the amount of money going toward debt services.
In 2012, the county’s debt load increased $90 million, according to the Comprehensive Annual Financial Report (CAFR). Total annual debt service payments have increased to $62.6 million.
“Of this $62.6 million, we are now paying more on the interest than on the principal,” Wagner said.
The debt service for the county poses a challenge to providing services and investments for communities.