How Much is Too Much? Policies on Debt Capacity
Most governments have a local debt limit prescribed by state or provincial law. However, this limit is rarely calibrated to local conditions. Without a sense of what is truly affordable, it is impossible to make truly wise decisions about the use of debt. This session will review the best measures of local debt affordability, show you how to come up with local limits that make the most sense for your community, and how to create a policy that facilitates responsible, affordable use of debt.
Assistant City Administrator/CFO, City of Franklin
Kristine Tallent Brock has served as Assistant City Administrator/Chief Financial Officer for the City of Franklin, Tennessee since January 2017. Formerly, she was Director of Management and Budget for the City of Maryville, Tennessee and Budget Director for Gwinnett County, Georgia. Kristine began her career as a financial advisor with a national independent municipal advisory firm. She holds a Bachelor of Arts in Economics from Maryville College (TN) and a Masters of Public Policy and Management with a concentration in Public Finance from Carnegie Mellon University (PA). Kristine has been working in the municipal debt market as an advisor or issuer since 1999.
Kristine has been a GFOA member since 2003, became a Certified Public Finance Officer (CPFO) in 2012 and has served on the GFOA Debt Committee since 2016. She has also been involved in various capacities in the State of Tennessee Government Finance Officers Association (TGFOA) and was the organization’s President in 2019. She is currently Chair of the TGFOA Legislative Committee. Kristine often serves as a presenter for GFOA and TGFOA conferences as well as for related professional organizations.
Senior Director, Fitch Ratings
Steve Murray is a senior director and regional manager for Fitch’s U.S. Public Finance Southwest Tax-Supported group in Austin. He manages a team of six analysts that cover local tax-supported issuers in Louisiana, Arkansas, Texas, Oklahoma, New Mexico, Colorado and Arizona. Steve is the lead analyst for a number of high-profile local governments, including the cities of Houston, Dallas, New Orleans, Phoenix, Austin and Baton Rouge. Prior to joining Fitch in 2002, Steve worked in various public and private sector positions in the municipal finance industry. Steve has both an undergraduate and graduate degree (LBJ School of Public Affairs) from the University of Texas at Austin.