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Board reviews draft debt-management policy; explains interfund advances and statutory basis
Summary
Cache County staff presented a draft debt-management policy that follows Utah Code (Titles 11 and 17), outlines allowable debt instruments and provides guidance on short-term interfund advances versus transfers; board asked for further review before adoption with the budget.
Wes, presenting a set of policies recommended by the Government Finance Officers Association, introduced a draft debt-management policy intended to be adopted alongside the county’s budget. He told the board the policy would guide when the county issues debt instruments (general obligation bonds, revenue bonds, lease revenue, tax anticipation notes) and would follow Utah Code Title 11 and Title 17 (bonding acts and uniform financial procedures) (Wes).
Wes said…
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