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Finance Department Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGM Dawna Parent Phillips, MBA

Debt Management Policy City Council Presentation Tuesday, October 29, 2013. Finance Department Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGM Dawna Parent Phillips, MBA. Introduction. A Debt Policy Establishes the Parameters for Issuing and Managing Debt

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Finance Department Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGM Dawna Parent Phillips, MBA

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  1. Debt Management Policy City Council Presentation Tuesday, October 29, 2013 Finance Department Christopher M. Quinn, MACC, CPA, CFE, CGFO, CGM Dawna Parent Phillips, MBA

  2. Introduction A Debt Policy Establishes the Parameters for Issuing and Managing Debt • Provides Guidance from City Council • Facilitates the Debt Issuance Process • Promotes Objectivity in Decision-making • Provides Evidence to Rating Agencies of City’s Commitment to Sound Financial Management

  3. Characteristics of a Debt Policy Promotes Attainment of Strategic Action Plan Objectives • Comprehensive Approach to Affordability • Reflects City Council Guidance and Philosophy • Establishes Limits while Preserving Flexibility

  4. GFOA Debt Policy Recommendations • Legal Debt Limitations or Limitations Established by Policy • Types of Debt Permitted and Issuance Criteria • Credit Objectives • Authorized Methods of Sale • External Finance Professional Selection Process • Integration of Capital Planning & Debt Financing Activities

  5. Best Practices • City Currently Follows GFOA and Industry Guidelines • Example: Recent Bond Rating Increase • Written Policy Proposal is Consistent with Current Practices & Guidelines • One of the Most Important Financial Policies • Adoption Provides the City with a Procedural Framework • Demonstrates City’s Commitment to Complete & Full Public Disclosure

  6. Next Steps • Council Consideration for Approval on 11/5/2013 • Submit to Association of Public Treasurers (APT) for Certification

  7. Questions & Discussion

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