Mount Vernon adopts fund-balance and debt policies, extends capital-markets advisor and authorizes RFP for innovative finance

The Mount Vernon City Council on Aug. 14 adopted a fund‑balance policy and a debt‑management policy intended to guide fiscal operations. The council also authorized the extension of an agreement with Capital Markets Advisor LLC for financial strategic‑planning services and approved issuing a request for proposals/qualifications to form a consultant team to implement an innovative finance and asset‑management initiative (referral comp 2025‑15). Council roll calls show the policies and contract extension passed without recorded opposition; council members asked no substantive questions during the public votes recorded in the transcript. The transcript does not include policy text, target fund-balance percentages, debt‑management thresholds, or contract dollar values; those details were not read into the public record at the meeting. The actions create the administrative authority to pursue professional advisory services and a consultant procurement to support the city’s financial planning and asset‑management work going forward.