The Debt Service section of the City of Nashua’s FY2027 Budget raises serious concerns about transparency and accountability. When residents review a city budget, they reasonably expect to see a complete and accurate picture of the debt obligations for which Nashua taxpayers are ultimately responsible. Unfortunately, the FY2027 presentation does not meet that standard.
On page 221, the budget lists only the City and School debt. What is not shown is the debt associated with Solid Waste, Wastewater, Special Road and Highway, the Riverwalk TIF District, the School District TIF, and Pennichuck. These are not optional or external liabilities; they are debts incurred on behalf of Nashua taxpayers, even if they are paid from different revenue streams.
By excluding these obligations from the primary debt summary, the city presents an incomplete picture. The FY2027 budget reports a debt service expense of $22,984,943, yet the schedules included within the same document show the true figure should be $50,494,354. This is not a minor discrepancy; it is a material omission that obscures the full financial burden placed on residents.
Principal
FY 2027 Payment Interest Total
City $6,758,660 $3,194,872 $9,953,532
School $6,546,750 $6,214,661 $12,761,411
Special Rd $3,380,000 $1,860,699 $5,240,699
Riverwalk $ 700,000 $ 584,500 $1,284,500
School TIF $ 191,190 $ 88,987 $280,177
Sub-total $17,576,600 $11,943,719 $29,520,319
Solid Waste $2,189,000 $1,511,183 $3,700,183
Wastewater $6,065,983 $2,443,017 $8,509,000
Sub-total $8,254,983 $3,954,200 $12,209,183
Pennichuck $4,475,000 $4,289,852 $8,764,852
Total
Payment $30,306,583 $20,187,771 $50,494,354
The issue is not a clerical error in this specific instance; however, the same cannot be said for the Debt Bond Schedules as a whole. For example, the Special Road and Highways schedule lists an Ending Principal Balance of $38,230,000, when the correct figure, per the official Debt Schedule, should be $38,325,000.
Discrepancies like this further erode the confidence of Nashua taxpayers in the accuracy and reliability of the financial information being presented.
The structure and presentation of the budget reflect a deliberate choice, one that prevents taxpayers from seeing the full scope of what they owe. Nashua residents deserve transparency, not selective reporting that minimizes the appearance of debt.
