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Circumscribing debt issuance with written policies. (Best Practices).(Virginia Beach, Virginia)
Government Finance Review
|
June 01, 2003 |
Phillips, Patricia; Dunford, Richard |
COPYRIGHT 2003 Government Finance Officers Association. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
The City of Virginia Beach credits its adherence to written debt policies for the city's strong financial position and credit ratings, not to mention reduced debt service costs.
In February, the GFOA Executive Board approved a new recommended practice entitled "Debt Management Policy." This replaces two 1995 recommended practices concerning debt policies: "Analyzing Debt Capacity and Establishing Debt Limits" and "Development of a Debt Policy."
GFOA's Committee on Governmental Debt Management periodically reviews all existing recommended practices to ensure that they reflect the latest debt practices and thinking. As part of the review process, the ...
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