Question: "How much debt is too much?"
Answer:
The state Constitution places a ceiling, equal to 8 percent of the assessed value of the taxable property in the municipality, on the amount of debt a municipality may issue. Municipalities may exceed the 8 percent limit with voter approval.
To ensure elected officials are knowledgeable about municipal debt and all other areas of local governance, the SC Municipal Elected Officials Institute of Government offers training intended for all levels of experience in municipal office.
The institute offers both in-person and online courses. Elected officials who complete all of the required coursework receive a certificate and graduate from the institute. Register for the March 14 "Basic Budgeting and Municipal Finance" course online or by mailing in the registration form in the back of the MEO Institute program booklet.
Officials must complete seven required courses to graduate, including five required courses that are offered at three different times during the year at the regional councils of governments' locations. Officials may also take these required courses online.