Debt and Investment Manager

• Serve as a primary Cary point-of-contact for banking partners, bond attorneys, financial advisors, the North Carolina Local Government Commission (NCLGC), underwriters, rating analysts, trustees, lending institutions, brokers, and feasibility consultants.
• Manage contracts/agreements with third party banking, financial, and cash management partners.
• Develop and document dashboards, systems, and standard operating procedures to facilitate and streamline operations while providing senior leadership with the needed access to information.
• Develop, document, and communicate policies related to debt, equity (fund balance), cash, and investments.
• Prepare monthly, quarterly, and annual reports for management review, including but not limited to monthly cash reports, quarterly financial narratives for Debt and Investment portfolios, and regularly required reports for the NC LGC detailing Cary’s debt service requirements, overall cash position, and any other reports as requested.
• Manage key year-end financial reporting activities related to debt and investment management, including arbitrage monitoring, investment interest allocations, long-term liability reporting, bond covenant calculations, and audit support for capital project funding and closeouts.
• Serve as Deputy Treasurer in the absence of the Treasurer.

DEBT MANAGEMENT

• Manage Cary’s debt ratings with Moody’s, S&P, and Fitch, including periodic updates and disclosure items to the rating analysts; provide senior leadership with regular updates and analyses associated with rating agency evaluations.
• Facilitate the management and structure of Cary's debt, including negotiating the best financing terms, timing, and legal conditions for Cary; maintain and update Cary’s debt database to ensure accuracy of future, current, and past bond issues; research and analyze new debt related issues, including any potential new debt products.
• Manage the debt issuance process, including preparing Requests for Proposals from banking partners, selecting underwriters, trustees, and financial advisors, preparing action items for Cary’s Council, offering documents for investors, preparing other information required by state statutes and the NC LGC, and directing the referendum process and bond closings.
• Manage Cary’s debt portfolio to include prompt payment of debt service to avoid payment defaults as well as provide continuing disclosure to investors and banking partners to ensure post-issuance compliance.
• Determine when to refund existing bonds by monitoring financial markets and interest rates, as well as analyzing Cary’s existing debt portfolio for potential interest savings.
• Recommend and manage Cary's use of derivative debt instruments, including interest rate swap agreements, to achieve interest rate savings and to hedge against interest rate risk.
• Prepare detailed reports for all debt projects that utilize bond proceeds including a comprehensive review of monthly expenses for each bond project, ensuring reimbursements qualify for bond proceeds. Maintain a database of draw downs, and track the use of all bond proceeds including any potential arbitrage payments.
• Provide other Cary departments with detailed analyses of Cary’s historical and future debt issues, including but not limited to, debt service analyses, debt proceeds uses, sources and uses breakdowns, and any other applicable requests.
• Actively partner with the Budget team to provide critical input for development of Cary’s general and utility fund operating and capital budgets, including the annual debt budget and debt service requirements, along with related schedules.

CASH AND INVESTMENT MANAGEMENT

• Manage cash and investments; make independent, daily investment decisions; monitor bank accounts and ensure appropriate balances to cover operating expenses and investment transactions, prepare and execute wires between Cary accounts to ensure weekly cash demands are met.
• In partnership with the Finance Director and Cary’s Financial Advisor, determine when to invest in long-term securities based on a review of Cary’s existing and forecasted cash needs, prepare bid sheets, solicit and analyze competitive investment bids from authorized brokers, select appropriate investment opportunities, and update existing databases with the results of the bids and investments.
• Analyze revenue streams and expenditure patterns to assist with cash forecasting and coordinate required cash flow information.
  Invest unspent debt proceeds within arbitrage limits; handle transfers for reimbursement to Cary’s general account.
• Manage the investment of fiduciary funds donated for a public purpose; provide timely and accurate reporting to interested parties.
• Maintain and update investment tracking and reporting software, including system control, custom report design, broker, investment, and account detail information, fiscal year-end close, and monthly update interest earnings and market pricing.
• Manage and update a monthly investment income database and analyze complex revenue forecasting tools; provide investment income revenue budget projections to the Budget team for inclusion in the budget process.
• Actively partner with the Budget team to provide critical input for development of Cary’s general and utility fund operating and capital long term financial models.
• Participate in Cary’s financial audit and budget processes by preparing various complex schedules related to cash and investments and debt, including detailed analytical reviews, and narratives; research and reconcile items as needed.
• Prepare adjusting journal entries, monthly allocations, and complex year-end journal entries as needed.

AUDIT SUPPORT

• Complete monthly and year-end investment income allocations across funds and bond-funded projects, ensuring accuracy, documentation, and alignment with the general ledger.
• Maintain and update long-term liability schedules for year-end reporting, including GASB40 disclosure support, amortization schedules, and reconciliations to the ACFR.
• Perform year-end investment portfolio reconciliations, including unrealized gains, custodial balances, and book-to-market adjustments to support audit requirements.
• Calculate and document bond and rate covenant compliance annually, coordinating with Budget, Accounting &Reporting, and external advisors to ensure accuracy and timely filing.
• Collaborate with Accounting and Project teams to reconcile funding activity and close out bond-funded capital projects, ensuring expenditures, reimbursements, and interest earnings meet bond eligibility rules and reporting standards.