TITLE

Fitch Report Stresses Local Fund Balance Policies

AUTHOR(S)
Vadum, Matthew
PUB. DATE
January 2005
SOURCE
Bond Buyer;1/26/2005, Vol. 351 Issue 32057, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that local governments policies on fund balances and reserves are key management tools that can add strength to a locality's overall credit. The fact that the city council voted on the policy and enshrined it in law represents a much greater credit strength than merely having a fiscally conservative finance director on staff that has specific objectives. Howard County, whose general obligation debt Fitch rates AAA with a stable outlook, goes one step further with respect to its replenishment policy.
ACCESSION #
15821302

 

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