WMTA Can Help You Develop or Revise Your Debt Policy
You can safeguard (or even improve) your municipality’s credit rating while protecting your entity and staff.
A good debt policy helps to accomplish all this and more – and WMTA can help you develop or revise your debt policy.
Today it’s perhaps more important than ever to have a debt policy in place... Why?
- It enhances the quality of decisions by thoughtfully establishing criteria for those important decisions ahead of time,
- It provides consistency and continuity in decision-making,
- It helps ensure compliance with federal and state laws governing debt issuance by promoting best practices,
- It clearly identifies objectives for staff to implement,
- It publicly demonstrates a commitment to long-term financial planning objectives, and
- It is regarded positively by the rating agencies in reviewing credit quality
For example, here's what Moody's says:
"General obligation credit ratings do not generally move up in boom times and fall in recessions. One of the main factors behind this stability is the proven ability of governmental managers to implement strategies that maintain credit strength over the long-term… Formalized debt planning and debt policies provide bondholders with reassurances that debt burdens and operational debt costs will be kept at manageable levels while ongoing capital needs continue to be met."
Here’s how WMTA can help – visit our Debt Policy page. You’ll find a sample debt policy and guidelines – and when you’re ready to have your policy certified, you’ll find the application form there too.
For more information, please contact Debt Policy Certification Chair, Svein Braseth, email@example.com.
The mission of the WFOA Education Committee is to provide Washington public entities and their staffs with professional training in finance, budgeting, accounting, reporting, and other relevant fields.
To promote the profession of municipal treasurers in the state of Washington through education, mutual support, professional recognition, and legislative advocacy.
Please contact Holly Stewart at (206) 625-1300 or firstname.lastname@example.org with any website questions.