By Ryan Clark
NKyTribune reporter
In April 2017, the City of Covington received its credit rating from the Moodys financial services company.
While the city was lauded for improving its financial situation, it was also told it needed to pay off some of its debt.
That year, the citys debt was 10.8 percent of the citys general fund. They said to pay it down, City Manager David Johnston said. They said to get it manageable or we wouldnt get a decent rating.
Creating a debt management policy was one of the items up for discussion on Tuesday nights agenda of the City Commissions regularly-scheduled caucus meeting. Coming up with a debt management policy was one of 23 items commissioners requested of City officials this fiscal y…
Read the full article at: https://www.nkytribune.com/2019/03/city-of-covington-crafts-policy-for-debt-managementalso-hires-consultant-to-help-get-back-taxes/