Secured and unsecured lines of credit may be established as a contingency to meet operating cash requirements.
July, 2020Responsible Office
The Treasurer’s Office is responsible for reviewing and determining the appropriate levels and types of bank lines of credit for approval by the Trustees.
The Treasurer’s Office is responsible for establishing and administering all bank lines of credit as approved by the Trustees.
All borrowings against bank lines of credit will be governed by the Policy No: 1803 – Debt Management – Operations.
The status of all bank lines of credit will be reviewed by the Treasurer’s Office and reported to the Trustees on an annual basis.
The Treasurer’s Office is responsible for administering debt services requirements and ensuring compliance with applicable debt covenants