Municipal Finance Oversight Board

The Municipal Finance Oversight Board considers applications from municipalities to use the state's bond rating to borrow money for capital improvements, land acquisition, and emergency repairs.

The Municipal Finance Oversight Board (MFOB) considers applications from municipal governments to use the Commonwealth's bond rating to borrow money to fund capital improvement projects, land acquisition, and emergency repairs. By using the state's bond rating, municipal governments can secure lower interest rates, saving taxpayer money. State Auditor Suzanne Bump serves as the chairman of the MFOB. The State Treasurer (or their designee), Attorney General (or their designee), and the Director of Accounts for the State Department of Revenue also serve as board members.

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