Understanding and managing municipal debt
- Borrowing Guidelines: Asset Useful Life Schedules and Maximum Borrowing Terms (PDF)
- Borrowing: Purposes and Procedures (IGR 2022-2: Borrowing) (PDF)
This Informational Guideline Release (IGR) explains the authorization and issuance of debt by cities, towns, improvement districts and regional school districts, including amendments made by the Municipal Modernization Act in borrowing procedures. - Capital Improvement Planning Guide (PDF)
- Determining a Minimum Bond Payment Using the Bond Amount Schedule (PDF)
- Guidelines: Municipal Finance Provisions of the Community Preservation Act (CPA) (IGR2019-14) (PDF)
This Informational Guideline Release (IGR) explains to local officials the procedures and requirements for establishing and administering a special fund that may be appropriated and spent for certain open space, recreational, historic resource and affordable housing purposes. - Lease Purchase Finance Agreements (IGR2019-9) (PDF)
- Municipal debt overview (Video)
- Overview: Tax Exempt Lease Purchases (TELPs) (Video)
- Premiums and Surplus Proceeds for Proposition 2½ Excluded Debt (IGR 2022-1) (PDF)
This Informational Guideline Release (IGR) explains to local officials the adjustments made to a Proposition 2½ debt exclusion when premiums are received and surplus loan proceeds remain after the project or purpose of the borrowing is completed. - Understanding Municipal Debt (PDF)
Tools for managing debt
- Borrowing Guidelines: Asset Useful Life Schedules and Maximum Borrowing Terms (PDF)
- Debt Service Calculator (Excel)
This Excel file can be used as a guide for projecting debt service. - Debt Service Schedule (Excel)
Municipal bond ratings
Video series: A Deeper Dive Into Municipal Debt
This series of videos provides an extensive review of municipal debt and how Massachusetts’ cities and towns can issue it. Please note that additional requirements may exist for regional school districts and special purpose districts seeking to issue debt. In all cases, please consult with your municipal and bond counsels when contemplating the issuance of debt. For the Department of Revenue’s official guidance on municipal borrowing and debt, see Informational Guideline Releases 22-1 and 22-2.
View the full video (26 minutes)
View individual segments:
- Accounting for debt and surplus proceeds/abandoned projects
- Borrowings subject to debt exclusion approval
- Credit rating agencies
- DLS oversight/Conclusion
- Emergency spending
- Introduction and overview
- Issuance roles and responsibilities
- Long-term debt
- Municipal borrowing authority
- Short-term debt
- Voting to borrow
Webinar: State House Note Modernization
The Division of Local Services’ Bureau of Accounts hosted a webinar on August 18, 2021 to highlight the modernization of the State House Note program. View the full video below, download the slides used in the webinar and view the User Guide for submitting State House Notes for approval using the DLS Gateway application.
- View full Webinar (29 minutes) (Video)
- Slides (PDF)
- User Guide (PDF)
| Date published: | July 30, 2020 |
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| Last updated: | December 29, 2020 |