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City Fiscal Policies and Practices <br />•Conservative budgeting <br />•Available resources are used to: <br />9 Strengthen reserves <br />9 Fund capital projects/repair and replacement projects <br />9 Pay down unfunded pension and retiree medical liabilities <br />9 Fund one-time projects to advance Council and community strategic goals <br />•Ensure long-term sustainability <br />3 <br />Financial Policies and Practices Impact <br />Borrowing Costs <br />•Example of S&P Global rating <br />criteria; specific rating criteria <br />may be different for different <br />types of debt financing <br />4 <br />Page 250 of 658