More on Debt

Steve LeBlanc · May 7, 2026

Preface: I am only relying on information contained in the yearly audits as to what short/long term debt Arcadia presently has. I am not privy as to how these debts and payments associated with same, are dealt with internally The point of this post is give taxpayers an idea as to the present, or more correctly, the “known” debt picture as of December 31, 2024.

The takeaway: more debt isn’t desirable.

  • 2023 audit:
  1. Long-term debt: NB Municipal Finance Corp.
4.048% to 5.1 15%, due 2038 QIC# 21-0022$300,000 (Village of Gagetown)
1.65% to 3.20% due 2032 QIC# 15-0087$210,000 (Village of Gagetown)
5.2% to 5.75% due 2033 OIC#s 1 7-0087 & 18-0022$429,000 (Village of Gagetown)

Debt assigned by Department of Local Governmen

2.87% to 3.84%, due 2042$1,113.000
Total$2,052.000

NOTE: I was told that the local Government debt relates to firehalls in Wards 1 and 6. Cambridge-Narrows had no debt at amalgamation. Financial reports for the LSD’s are not available.

Principal payments for the next five years are as follows:
2024 - $ 142,000
2025 - $143,000
2026 - $150,000
2027 - $143,000
2028 - $145,000

  • 2024 Audit
  1. New Brunswick Municipal Financing Corporation loan bearing interest at 3.1% per annum, repayable in annual payments plus interest. The loan matures on September 20, 2042. | $ 1,047,000
  2. New Brunswick Municipal Financing Corporation - BR 28 - 2017 loan bearing interest at 2.6% per annum, repayable in annual payments plus interest. The loan matures on December 12, 2032. | $189,000
  3. New Brunswick Municipal Financing Corporation - BV 31 - 2019 loan bearing interest at 2.1% per annum, repayable in annual payments plus interest. The loan matures on May 14, 2034. | $389,000
  4. New Brunswick Municipal Financing Corporation CD 18 - 2023 loan bearing interest at 5.115% per annum, repayable in annual payments plus interest. The loan matures on June 21, 2038. | $285,000
    Total: $1,910,000

Principal repayment terms are approximately:
2025 - $143,000
2026 - $150,000
2027 - $143,000
2028 - $145,000
2029 - $149,000
Thereafter - $1,180,000
$1,910,000 debt as of December 31, 2024

Additional “debt” per say relates to transfers of leases by the Province for 3 “trucks” (fire trucks) to Arcadia as a sub-lease (see council minutes of April 17, 2023). No dollar amount is given nor is it indicated in the 2023 or 2024 audit to which ward these leases apply.

I note in the 2026 budget a line item: “Capital Leasing Arrangements” of $99,436. No comment is given as to what this pertains to, and I see nothing under “Fire Protection” that is indicative of lease costs and again no wards (that were LSD’s) are specified.

The 2025 audit is not available to the taxpayers as of May 6, 2026.