The state's Debt Management Policy has three goals. They are

1. Maintain/Regain Aaa/AAA bond ratings
2. Minimize state borrowing cost
3. Provide a reasonable financing capacity within a prudent debt limit.

The Debt Management Policy has five guidelines. They are:

1. The general fund appropriation for debt service shall not exceed 3.0% of non-dedicated revenues.(view graph)
2. General obligation debt shall not exceed 2.5% of state personal income.(view graph)
3. State agency debt shall not exceed 3.5% of state personal income.(view graph)
4. The total amount of state general obligation debt, moral obligation debt, state bond guarantees, equipment capital leases, and real estate leases are not to exceed 5.0% of state personal income.(view graph)
5. 40% of general obligation debt shall be due within five years and 70% within ten years.