1804 Debt Management

Capital Project

Document purpose

Debt financing may be required in support of capital projects.

effective

December, 1986

revised

April, 2007

Reviewed

July, 2020

Responsible Office

Treasurer

Approval

Policy

  1. The V.P. for Finance and Treasurer is responsible for selecting the debt financing alternative appropriate for capital projects. All debt financings must be supported by an identified debt service source.  

  2. Internal loans for capital will be managed by the Treasurer’s Office. The status of internal loans for capital must be reviewed quarterly and reported to the V.P. for Finance and Treasurer.  

  3. All capital projects with total cost greater than $5,000,000 must be approved by the Trustees.  

  4. The Treasurer’s Office is responsible for administering debt service requirements and ensuring compliance with applicable debt covenants.