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Council adopts fund-balance and debt policies setting reserve and debt-service limits
Summary
City council unanimously approved a fund-balance policy to hold 25% of operating expenditures in general and water/sewer funds and a debt policy limiting debt payments to 10% of general fund revenues (approx. $2.6M), with a legal upper limit of 15% (approx. $4.0M).
The Zephyrhills City Council voted Aug. 25 to adopt a fund-balance policy and a debt policy intended to stabilize reserves and set parameters for future bond issuances.
Why it matters: The policies are preparatory steps for a contemplated bond issuance tied to capital projects. A clear fund-balance target and a cap on debt service help preserve creditworthiness and show fiscal discipline to rating…
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