NOTES TO FINANCIAL STATEMENTS (In Thousands) NOTE 6. LONG-TERM DEBT Long-term debt activity for the year ended June 30, 2018, is as follows: Beginning Balance Line of credit Compensated absences Total long-term liabilities $ $ 26,857 3,199 30,056 $ $ Additions - 3,664 3,664 Reductions $ $ (26,857) $ (3,117) (29,974) $ Long-term debt activity for the year ended June 30, 2017, is as follows: Beginning Balance Line of credit Compensated absences Total long-term liabilities $ $ Line of Credit The Authority maintained, with a financial institution, an uncollateralized revolving line of credit in the amount of $48,000. As of June 30, 2018 and 2017, $- and $26,857, respectively, was outstanding on this line of credit. The interest rate (1.29% at June 30, 2017) is based on the one-month LIBOR rate. This line of credit was paid in full on August 1, 2017. 29,257 3,018 32,275 $ $ Additions - 2,793 2,793 Reductions $ $ (2,400) $ (2,612) (5,012) $ Ending Balance 26,857 3,199 30,056 Due Within One Year $ $ 26,857 2,739 29,596 Balance Ending - 3,746 3,746 Due Within One Year $ $ - 3,202 3,202 29
