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Trenton council adopts fund balance, debt management and capital asset policies; investment policy updated
Summary
Council adopted new fund balance, debt management and capital asset policies and revised the city investment policy after an S&P review; changes include higher diversification limits and longer maximum maturities for certain securities.
At the May 19 Trenton City Council meeting, City Controller Cooper asked council to adopt formal fund balance, debt management and capital asset policies and to approve revisions to the city investment policy following a recent S&P review tied to bond issuance.
City Controller Cooper told council the S&P report praised the city's stable rating but noted a lack of certain formal…
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