Washington County staff briefed the Board of Commissioners on a package of financial policy work at the Jan. 8 roundtable and received board agreement to advance two new policies (debt and grants) while pursuing completion of most recommended policies in 2026.

Deputy Chief Financial Officer Sarah King presented a new debt policy after the county's recent bond issuance, telling the board that the purpose is to "ensure that the county maintains strong financial health by minimizing borrowing costs, prioritizing strong credit ratings, and upholding transparency and accountability to taxpayers." She said the policy would limit issuing debt to capital projects aligned with strategic plans, prohibit using debt for ongoing operations, and require board approval for issuance and refinancing practices.

Grants coordinator William Bass described the proposed grants policy as a formalized framework for grant-seeking and grant management. Bass said the policy includes pre-award risk assessment, monitoring steps for subrecipients, and delegation thresholds for acceptance: "The county administrator [has authority] up to $300,000 ... and anything over that would require formal approval by this body," Bass said. Staff also noted a $100,000 tracking threshold to ensure budget planning for awards that create ongoing commitments.

Staff framed the work within recommendations from the Government Finance Officers Association (GFOA) and an internal audit that found the county needed to strengthen several financial policies; staff said the goal is to complete 14 of the 15 recommended policies over 2026, with procurement, capital, structurally balanced budget, accounting and reporting, and long-term financial planning among items on the schedule.

Board response: Chair Harrington asked for endorsement to move the policies forward and recorded that the board gave unanimous thumbs-up to advance the two new policies and the timeline. Harrington noted the board's expectation that staff will return with formal policy documents and that adoption steps will follow the normal packet and board-resolution process.

Quantities and thresholds cited: staff noted a recent issuance of "full faith and credit bonds for a $150,000,000" program to support major street transportation improvements and described reserve sizing guidance in the contingency reserve policy (operating departments: minimum one month of expenditures; property-tax reliant funds: four months; internal service funds: 3% target, one month for facilities; SIP funds based on a three-year average of operating support).

Why it matters: Adopting formal debt and grants policies clarifies financial controls, transparency commitments and budget planning assumptions that shape capital projects and grant-funded programs for the county.

What’s next: Staff will bring formal policy documents and recommended resolutions back to the board as part of the regular packet and adoption process; the board will continue to review additional policies across 2026.