This is a senior-level professional role responsible for assisting the Debt Manager in evaluating plans for long- and short-term debt issuance to finance the County’s Capital Improvement Program.
This position works with a considerable degree of latitude in taking independent judgment, action, and initiative when expediting complex accounting/financial assignments and projects. Incumbents perform accounting work in accordance with Generally Accepted Accounting Principles (GAAP) in State and Local government, prepare, examine, and analyze relevant accounting records, applicable sections of the financial statements, or other financial reports to assess accuracy, completeness, and conformance to reporting and standards, with particular emphasis on debt
disclosures and reporting.
- Assist Debt Manager in evaluating plans for long- and short-term debt issuance to finance the County’s Capital Improvement Program based on cash flow needs, sources of revenues, capital construction periods, available financing instruments, and market conditions.
- Recommends to the Debt Manager the selection of bond features, including forms of bonds, original issue discount or premium, optional redemption provisions, advantage of purchasing bond insurance, and designation of two or more consecutive annual principal payments on term bonds.
- Ensures the County adheres to its debt management policy.
- Coordinates along with the Debt Manager, the bond sale activities and compilation of Preliminary Official Statement (POS), ensuring acceptance of documents submitted including POS and planning and documents.
- Coordinates with various County agencies in gathering information for inclusion in the Preliminary Official Statement POS.
- Coordinates the compilation and publishing of successive versions of the POS and OS for further review by the financing team.
- Performs – in coordination with the Debt Manager – the duties of the compliance coordinator for each debt issuance.
- Maintains and enforces record-keeping policy for debt issuances.
- Tracks the enabling, authorization, and use of bond proceeds related to each project.
- Consult with industry professionals to ensure that policies, practices, and documentation remain consistent with regulatory requirements and best practices.
- Prepares fund transfer requests consistent with parameters set forth in bond indenture agreements.
- Assist Debt Manager in ensuring compliance with disclosure requirements of the Securities and Exchange Commission, Rule 15C2012(b)(5).
- Demonstrates an understanding of Event Disclosures, to ensure that the County reports these occurrences as required.
- Files required IRS forms associated with outstanding debt portfolio, ensuring that the County maintains compliance with applicable sections of the internal revenue code and that tax-exempt status of pertinent debt issuances is preserved.
- Reviews and evaluates program or activity effectiveness and efficiency and recommends to management the course of action to correct deficiencies and improve services.
- Investigates identified problems and assists the management in instituting procedures, systems, and controls to correct problems.
- Prepares annual debt report as described in the Debt Management Policy.
- Manages arbitrage rebate compliance with the assistance of the County arbitrage service provider for Special Taxing Districts and Tax Increment Financings.
- Actively participates in installations, enhancements, and modifications to systems that link or interface with the County’s financial management system.
- Perform other tasks and duties assigned, which may not be specifically listed in the position description; however, are within the general occupational category and responsibility level typically associated with the employee's class of work.