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Committee to add language excluding self-supporting enterprise-fund debt from debt-capacity calculation
Summary
Finance staff proposed a one-sentence change to the county's financial management policy to explicitly exclude self-supporting enterprise-fund debt (landfill and water/sewer) from the county's debt-capacity ratio; the change was placed on the consent agenda.
At the March 17 finance committee meeting, county finance staff proposed a targeted revision to the financial management policy to clarify that self-supporting enterprise-fund debt is excluded from the county's debt-capacity ratio.
Kim Vanderhyde told the committee the single-sentence addition would codify current practice: "That would mean any debt that is incurred by an enterprise fund that would be able to pay that debt on its own would be excluded from the ratio calculation," she said. Vanderhyde said school-related debt is already addressed in a separate section of the policy and will remain excluded under the existing policy language.
Staff said the revision appears on the consent agenda for the full-board meeting that evening. Committee members confirmed they had no further questions about the single substantive change.
