2-Attachment D.pdf
PDF 84 KB Posted
- Attached to
- Debt Management Software
- Solicitation number
- RFP265X901145
- Issued by
- Hamilton County, Ohio
About this file
This is a Debt Management Policies document from the City of Cincinnati, Ohio, establishing the financial framework for the City's debt portfolio management. The City has implemented five core debt management policies designed to ensure fiscal responsibility and compliance with state statutory requirements. These policies govern the proportion of the Capital Improvement Plan funded through debt, with the City reviewing compliance on both existing and pro-forma bases on an annual or as-needed basis. The policies address General Obligation Debt limitations, long-term tax-supported governmental debt service ratios, debt-to-property valuation thresholds, debt payout schedules, income tax pledge restrictions, and equity funding requirements for capital improvements.
The five established policies establish specific financial metrics: Total Long-term Tax Supported Governmental Debt Service shall not exceed 12.5% of Governmental Revenues; the ratio of total Long-term Tax Supported Governmental Debt to Full Valuation of Taxable Property shall not exceed 4.50%; the 10-Year Payout Ratio for long-term tax-supported debt shall not be less than 60% in the aggregate; the ratio of Tax Supported Debt Service pledging Income Taxes shall not exceed 75% of projected revenues from the 0.15% Income Tax; and equity or cash funding of the Capital Improvement Plan should be no less than 20% over a rolling 5-year period. These policies exclude debt fully supported by non-governmental revenues, such as the Cincinnati Water Works and other self-supporting enterprise systems. The policies reflect the City's commitment to maintaining fiscal stability while managing its debt obligations in compliance with state law and administrative regulations.
View the file
Other files
| File | Type | Posted |
|---|---|---|
| 6-RFP265X901145 Addenda 1.pdf | ||
| 1-RFP265X901145 Request for Proposals.pdf | ||
| 3-Attachment A.pdf | ||
| 5-Attachment B.pdf | ||
| 4-Attachment C.pdf |
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Text version
Debt Management Policies
As a part of the City's budget process, updated on an as-needed basis but not less than annually, the City shall consider trends in revenues and expenditures in its governmental funds and trends in assessed valuation as it considers the proportion of its Capital Improvement Plan that can be funded with debt. In addition, the City shall review compliance with the metrics generated by the following Debt Management Policies on an existing and pro-fonna basis. For General Obligation Debt of the City, the par amount of outstanding and planned debt shall not exceed statutory debt limitations as set forth by state law at the time of the issuance, including a deduction for emergency needs and judgments.
Policy No. 1:
Policy No. 2:
Policy No. 3:
Policy N o.4:
Total Long-term Tax Supported Governmental Debt Service Shall Not Exceed 12.5% of
Governmental Revenues
This policy shall factor in all Long-term Tax Supported Governmental Debt that is supported by Governmental Revenues. Debt of the City that is fully supported by non-Governmental revenues is to be excluded (i.e. Water Works and Non-Tax Revenue Pledge or other obligations that are self-supported and not paid from general Governmental Revenues). Note:
Governmental Revenues include recurring revenues in the following fund categories: General, Capital Projects, Debt Service and Other Governmental. Governmental Revenues shall exclude one-time revenues and entirely self-supporting enterprise systems such as the
Cincinnati Water Works.
The ratio of total Long-term Tax Supported Governmental Debt to the Full Valuation of
Taxable Property shall not exceed 4.50%
The policy shall incorporate all Long-Term Tax Supported Debt and within this Policy constraint, Property Tax Debt shall be managed so as to not exceed the Statutory 5.5% limit based on 35% of Full Valuation. Debt of the City that is fully supported by non-Governmental revenues is to be excluded (i.e. Water Works and Non-Tax Revenue Pledge or other obligations that are self-supported and not paid from general Governmental Revenues).
The 10-Year Payout Ratio (i.e. amount of debt retired in 10 years for Long-term Tax
Supported Debt shall not be less than 60% in the aggregate
Debt of the City that is fully supported by non-Governmental revenues is to be excluded (i.e.
Water Works and Non-Tax Revenue Pledge or other obligations that are self-supported and not paid from Governmental Revenues).
The ratio of the portion of the City's Tax Supported Debt Service that has a pledge of
Income Taxes shall be no more than 75% of projected revenues from the 0.15%
Income Tax.
Equity or Cash Funding of the City's Capital Improvement Plan should be no less than 20% over a rolling 5-year CIP Period.
Administrative Regulation No. 66
Policy No.5:
Attachment D
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