DES MOINES, Iowa (AP) -- - Iowa's government debt has reached a new all-time high and is now the equivalent of more than $4,700 per resident, according to a report obtained by the Des Moines Register.
The Register says the state treasurer's office will release a report Monday showing that state agencies, counties, cities, school districts and other public groups have accumulated $14.4 billion in debt.
That's up more than 4 percent from a year ago, and nearly 40 percent over the last five years.
But some state officials say the report isn't necessarily a cause for alarm.
State Treasurer Michael Fitzgerald says borrowing makes sense when providing essential, long-term services, such as water plants and schools. Moody's Investor Services also says Iowa has the nation's 48th-lowest per-capita level of government debt.
- Repealing Obamacare: Trump says fast, Congress says slow
- Monday closings due to weather
- UPDATE: Tomah police believe they captured the suspects involved in a high speed chase Sunday
- US Rep. Pocan says he won't attend Trump inauguration
- Local activists hold "Save Our Healthcare" rally
- Local bar burglarized
- More than a dozen cell towers may go up in La Crosse
- Potential suicide spike in La Crosse County
- UPDATE: Suspect charged in Trempealeau County fatal crash
- Area youth group helps prepare for fundraiser