Warren County government must have a state-mandated financial management policy in place by Jan. 1 or risk being banned from borrowing any money until a plan has been submitted.The State Funding Board is developing finance transaction policies to guide public entities in preparing their own policies. These policies are designed to:• make better financial decisions;• provide clear objectives for staff;• demonstrate strong financial management practices to credit rating agencies;• distinguish policy decisions from transaction decisions.County Executive John Pelham says having to formally submit a county policy is new this year, but won’t be a problem since director of accounts Linda Hillis already has procedures in place that meet most of the requirements. Pelham says he understands why the state has recognized the need for a written policy in each county.“We’re basically already doing everything that’s in the debt management policy,” Pelham said.