True or false: The decision to borrow money happens before the council decides what it needs to fund.
Answer: False.
The decision of whether to borrow is secondary to the decision of what the municipality wants to purchase or build. After a council determines the community's service and facility needs, it may consider borrowing as one of several available financing options.
Learn more about municipal debt in the Handbook for Municipal Officials in South Carolina.
The Municipal Elected Officials Institute of Government offers the required course "Basic Budgeting and Municipal Finance" in person and as an online, on-demand course.