Which board approves local government debt issuance?

The approval of local government debt issuance is typically the responsibility of the State Funding Board. This board is established to oversee and facilitate the issuance of bonds and other forms of debt financing by local governments, ensuring that such actions comply with legal and regulatory standards. The State Funding Board plays a critical role in maintaining the financial health of local governments by reviewing debt proposals and considering factors such as debt capacity, purpose of the debt, economic projections, and community impact.

The other options, while related to municipal finance, do not have direct authority over local government debt issuance. The Comptroller's Office often handles auditing and financial oversight but is not the approving body for debt. The Division of Local Government Finance may provide support and guidance on financial matters, but it is the State Funding Board that has the specific mandate to approve the issuance of debt. The Utility Regulatory Board primarily deals with utility rates and services rather than the approval of local government debt. This distinction is crucial for understanding the roles of different entities in municipal finance.