CONDUCTING AUDIT OF INFRASTRUCTURE IMPROVEMENTS PLAN
|
|
- Augustus Carson
- 5 years ago
- Views:
Transcription
1 CONDUCTING AUDIT OF INFRASTRUCTURE IMPROVEMENTS PLAN UNDER ARIZONA SENATE BILL 1525 OCTOBER 14,
2 Biennial Certified Audit Under Arizona SB 1525» This session focuses on the aspects of the process of conducting one of the first Biennial Certified Audit s of a municipalities Land Use Assumptions (LUA), Infrastructure Improvements Plan (IIP), and development fees under Arizona Senate Bill (SB) 1525.» Raftelis Financial Consultants recently completed a Certified Audit for the Scottsdale 2
3 Today s Presenters» Frank Davis Manager with RFC and served as Project Manager for the Audit» Andrew Rheem Manager with RFC and served as Technical Reviewer for the Audit» Both Frank and Andrew have assisted numerous municipal and county government agencies in calculating and adopting development impact fees nationally and in Arizona under SB 1525 (ARS ) 3
4 Arizona Impact Fees Under SB
5 Topics of Today s Discussion» Background of Arizona Impact Fee Legislation and Requirements of the Certified Audit» What is an Infrastructure Improvements Plan?» Case Study: City of Scottsdale RFC s Approach to Audit Findings of Audit Lessons Learned 5
6 What is SB 1525?» Enacted in 2011» Required existing impact fees be replaced by fees adopted under new legislation by August 1, 2014» Required fee structures be based on: Adopted LUA Report Adopted IIP Report Report documenting fee calculation and assessment methodology 6
7 Why Perform an Audit?» ARS (G) further requires the municipalities to either: (1) Appoint Infrastructure Improvements Advisory Committee (subject to additional statutory requirements). (2) Provide for a biennial certified audit of its land use assumptions, infrastructure improvements plan, and development fees.» Scottsdale Water opted for the biennial certified audit. This first biennial audit was for July 1, 2014, through June 30, OR 7
8 What is an IIP? ARS (K) requires an IIP be prepared by qualified professionals using accepted engineering and planning practices for each service area for which a development fee will be collected. The IIP should include: 1. Description of existing infrastructure and costs to meet existing needs 2. Capacity analysis defining level of current usage and committed capacity 3. Description of costs for expansions attributed to development and based on LUA 4. Table quantifying impact of service unit and equivalency ratio of service units for various land uses 8
9 What is an IIP? (Continued) ARS (K) requires an IIP be prepared by qualified professionals using accepted engineering and planning practices for each service area for which a development fee will be collected. The IIP should include: 5. Projected service units attributable to development and based on LUA 6. Projected demand during forecast period (10 or 15 years) 7. Forecast of revenues generated by new service units from sources other than development fees (state revenue, ad valorem taxes, excise taxes, etc.) 9
10 Requirements of Certified Audit» The audit shall be conducted biennially by qualified professionals : Not employees or officials of the city Did not prepare the IIP Defined as professional engineer, surveyor, financial analyst, or planner providing services within scope of their license, education, or experience» Scottsdale City Auditor selected Raftelis Financial Consultants to perform the Biennial Certified Audit 10
11 Objective of the Audit To review the progress of the City s LUA and IIP, including the collection and expenditures of development fees for identified capital projects in the IIP, and evaluate any inequities in implementing the adopted IIP or imposing the adopted development fees differently from the adopted fee schedules. Not intended to be an audit of City s financial statements under generally accepted auditing standards. 11
12 Challenges in Performing Audit» SB 1525 is fairly general in describing the objective of the audit» Previous Audit not available to provide guidance» How in depth is the review of the progress of the IIP?» What timeframe should the audit cover?» What constitutes and inequity in implementing the plan or imposing the development fees?» Should the Audit consider City s Annual Report on Collection and Use of Development Fees? 12
13 CASE STUDY: CITY OF SCOTTSDALE 13
14 Scottsdale Development Fees City charges development fees to recover the costs of providing three public services: 1. Water 2. Water Supply 3. Wastewater» All fees are based on a city-wide service area» All fees are assessed based on customer s meter size» City elected to provide for biennial certified audits 14
15 Audit Process Timeline» Selected RFC to perform audit: January 26» Submitted initial audit draft report: May 13» Posted final report for audit Committee: Sept 13» Audit Committee voted unanimously to accept report: Sept 19» Posted to City s audit reports web page: Sept 20» Public hearing on the report: Oct 10 15
16 RFC s Approach Audit period covered FY 15 and FY 16: 1. Review actual growth and LUA 2. Evaluate levels of service and capacity available for growth 3. Review collection/expenditure of fees for each necessary public services: Are funds segregated? Are funds used appropriately as defined by SB 1525? Were development fee funds spent on improvements in the IIP? Were fees assessed according to adopted schedules? 16
17 Land Use Assumptions (LUA)» City adopted LUA Report on December 13, 2013: Covered a 10-year period (2013 through 2023) Prepared by Elliott D. Pollack & Co. Land use projections translated into equivalent water and wastewater demands by CH2 M Hill and Water Works Engineers» Fees applied to different customers based on meter size instead of land use types 17
18 LUA Audit Results Progress of IIPs is consistent with LUA:» Does not result in any inequities in implementing the plans» Actual growth is consistent with land use assumptions» Recent growth has not put a strain on available water and wastewater capacity 18
19 Water and Wastewater IIP» City adopted IIP Report on December 10, 2013 Covered a 10-year period (2013 through 2023) Water IIP prepared by CH2 MHill Wastewater IIP prepared by Water Works Engineers» Both written plans sufficiently address and provide information required by SB
20 IIP Assumptions Audited 1. Compare actual and projected new EDUs added 2. Evaluate appropriateness of defined level of service 3. Assess progress of capacity utilization 20
21 Actual and Projected EDU 2,500 2,000 1,500 1, Annual Water EDUs Added 1,843 1,831 1,856 1,881 1,183 1,048 FY 2014 FY 2015 FY 2016 Actual Projected Based on utility billing information:» Projections assume compound growth rate» Growth occurs intermittently» Water EDUs added represent 19% of 10-year projection» Wastewater EDUs added represent 13% of 10-year projection» Wastewater anticipated to add more EDUs due to areas served by septic 3,000 2,500 2,000 1,500 1, Annual Wastewater EDUs Added 2,655 2,717 2,780 2,066 1, FY 2014 FY 2015 FY 2016 Finding:» Projected demands remain consistent with planning projections and do not result in any inequities in implementing the IIPs or imposing fees Actual Projected 21
22 Levels of Service WATER LEVEL OF SERVICE Fiscal Year Gallons per Day % Change % % % WASTEWATER LEVEL OF SERVICE Fiscal Year Gallons per Day % Change % % % Level of Service represents daily demand of an EDU:» Based on City production and customer data» Minimal changes in demand per EDU» Water and wastewater use can fluctuate based on weather and other conditions» Existing levels of service for both water and wastewater are within 10% of those defined in IIPs Finding:» Levels of service identified in IIPs remain appropriate and do not result in any inequities in implementing the IIPs or imposing fees 22
23 Assess Progress of Capacity Utilization Water Production Facilities Facility 2013 Capacity 2015 Capacity 2016 Capacity (mgd) (mgd) (mgd) Total Less CGTF (12.30) (12.30) (12.30) Less Reserved Capacity (0.40) (0.40) (0.40) Total Eligible for New EDUs Less Max Day Demand (MDD) (94.14) (92.11) (94.86) Capacity Available for New EDUs Capacity utilization based on production/treatment capacities and MDD and ADD:» Water production facilities have over 50 MGD of capacity available for new EDUs» Wastewater treatment facilities have over 19 MGD of capacity available for new EDUs» Available capacity fluctuates slightly based on changes in demand influenced by weather, etc.» City has available capacity to meet projected demands during 10-year planning period Treatment Facilities Facility 2013 Capacity 2015 Capacity 2016 Capacity (mgd) (mgd) (mgd) Total Less Gainey Ranch (1.67) (1.67) (1.67) Less Average Day Demand (ADD) (20.13) (20.42) (20.25) Less Reserved Capacity (0.25) (0.25) (0.25) Capacity Available for New EDUs Finding:» Available capacity to serve new EDUs in City s projection/treatment facilities remains appropriate and does not result in any inequities in implementing the plan or imposing the fees 23
24 Audit of Collection and Expenditures of Fees Evaluated collection and expenditure of fees from 7/1/2014 to 6/30/2016:» Were the fees collected appropriately for customers?» Were the fees used on infrastructure included IIPs and/or eligible costs as defined by SB 1525?» Were the fees appropriately segregated and accounted for by public service area? 24
25 Audited of Collection and Expenditures 1. Collection of development fees based on meter size 2. Expenditure of fees 3. Accounting of fees and fund balances 25
26 Collection of Development Fees Developoment Fees # of EDU Receipts Water 2,120 $5,778,162 Water Supply 2,120 $1,354,538 Wastewater 1,898 $3,876,721 Collection of fees from customers based on meter size and customer classification:» City tracks both collection of fees for new EDUs and refunds provided for incremental changes in demand associated with redevelopment» Data included address, fee amount, meter size, customer classification, and date of payment» Sold more EDUs to water and water supply due to irrigation meters Finding:» The collection of fees was applied appropriately to new customers and does not result in any inequities in implementing the plan or imposing the fees 26
27 Expenditure of Development Fees July June 2015 July June 2016 Project Name Water Water Supply Wastewater Water Water Supply Wastewater (626) (627) (628) (626) (627) (628) Cross Roads East Water $ 1,408 Wastewater Collection System Improvements $ (119,704) Well Sites $ 134,031 $ (134,031) Zone 14/16 Water Improvements Phase 3 $ 74,006 $ 283,749 Total - Improvements Projects $ 208,037 $ - $ (119,704) $ 151,126 $ - $ - Impact Fee Biennial Audit $ 8,847 $ 8,847 $ 9,115 Debt Service - Principal $ 2,118,788 $ 407,774 $ 4,084,403 $ 2,242,400 $ 438,883 $ 4,315,940 Debt Service - Interest $ 3,416,369 $ 808,745 $ 4,814,336 $ 2,137,747 $ 563,909 $ 4,219,278 Total Non-Project Payments $ 5,535,157 $ 1,216,519 $ 8,898,739 $ 4,388,994 $ 1,011,639 $ 8,544,333 Total Expenditures $ 5,743,194 $ 1,216,519 $ 8,779,035 $ 4,540,119 $ 1,011,639 $ 8,544,333 Expenditure of fees on IIP projects and eligible costs of providing service:» City made adjustments for use of funds on certain projects that were not eligible» Costs of audit and financing of facilities with available capacity are eligible for development fees under SB 1525 Finding:» The expenditure of fees was used for eligible projects and costs associated with providing service to new customers and does not result in any inequities in implementing the plan or imposing the fees 27
28 Accounting for Development Fees Development Fee Fund Balances Two-Year Total 626 Water Development Fees Beginning Balance ($118,394,091) Adjustment (1) $15,603,367 Receipts $5,854,512 Refunds (2) ($76,350) Prepaid Fee Modifications (3) ($726,023) Expenditures ($10,283,314) Ending Balance ($108,021,899) 627 Water Supply Fees Beginning Balance ($2,953,233) Adjustment (1) ($14,806,256) Receipts $1,367,054 Refunds (2) ($12,516) Prepaid Fee Modifications (3) ($189) Expenditures ($2,228,158) Ending Balance ($18,633,299) Segregated funds into separate accounts: 1. City made adjustments to funds to address changes to accounting practices associated with capital funds 2. Refunds provided for incremental changes in demand associated with redevelopment 3. Prepaid modifications represent adjustments provided to customers that previously paid fees under previous assessment approach 628 Wastewater Development Fees Beginning Balance ($128,170,910) Adjustment (1) $7,732,825 Receipts $3,941,747 Refunds (2) ($65,026) Prepaid Fee Modifications (3) ($79,779) Expenditures ($17,323,368) Ending Balance ($133,964,511) 28
29 Accounting for Development Fees The City appropriately accounted for the monies received from development fees in separate funds and only used those monies for the purposes authorized by statutes. The City s collection and expenditure of development fees does not result in any inequities in implementing the plans or in imposing the development fees. 29
30 Lessons Learned» Municipalities and auditors may differ in how they view the objective of the audit Type of public services recovered Magnitude and timing of projects included in the plan» The depth of review of IIP assumptions may differ» Biennial audit should cover a full two fiscal year period» Using development fee funds for ineligible expenses could constitute an inequity in implementing the plan 30
31 Lessons Learned» Significant variances in key assumptions could constitute an inequity in implementing the plan Project cost versus planned cost of project More rapid growth than anticipated may result in lack of available capacity» Assessing the fee incorrectly to land use types could constitute an inequity in imposing the fee» Annual Report on Collection and Use of Development Fees should not be considered as part of Audit 31
32 Frank Davis Manager, 2803 Fruitville Road, Suite 131, Sarasota, FL P: E: Andrew Rheem, Manager, 5619 DTC Parkway, Suite 175, Greenwood Village, CO P: E: 32
33 RFC IS A REGISTERED MUNICIPAL ADVISOR WITH THE MSRB AND SEC UNDER THE DODD-FRANK ACT AND IS FULLY QUALIFIED AND CAPABLE OF PROVIDING ADVICE RELATED TO ALL ASPECTS OF UTILITY FINANCIAL AND CAPITAL PLANNING, INCLUDING THE SIZE, TIMING, AND TERMS OF FUTURE DEBT ISSUES. Any opinion, information, or recommendation included in this presentation, related to the size, timing, and terms of a future debt issue may be relied upon only for its intended purpose. This information is not intended as a recommendation to undertake a specific course of action related to the issuance of debt, or to indicate that a particular set of assumptions for the size, timing and terms of issuing debt will be available at the time debt is actually issued. 33
Cost Accounting for Rate & Fee Setting: Calculating Defensible Rates and Charges
Cost Accounting for Rate & Fee Setting: Calculating Defensible Rates and Charges UNC School of Government EFC 2017 Water & Wastewater Finance Workshop February 28 March 1, 2017 The William & Ida Friday
More informationTOWN OF PRESCOTT VALLEY
TOWN OF PRESCOTT VALLEY Management Services Department WATER & SEWER RATE STUDY July 27, 2017 TOWN OF PRESCOTT VALLEY REPORT OF PROPOSAL TO REVISE CERTAIN WATER AND WASTEWATER RATES, FEES AND SERVICE CHARGES
More informationFORT COLLINS- LOVELAND WATER DISTRICT
FORT COLLINS- LOVELAND WATER DISTRICT Water Financial Planning and Rate Study Report March 16, 2018 District of Thousand Oaks Water and Wastewater Financial Plan Study Report March 16, 2018 Board of Directors
More informationWATER AND WASTEWATER RATE STUDY
WATER AND WASTEWATER RATE STUDY Draft July 3, 2013 Prepared by: Page 1 Page 2 201 S. Lake Avenue Suite 301 Pasadena, CA 91101 Phone 626. 583. 1894 Fax 626. 583. 1411 www.raftelis.com July 1, 2013 Mr. Don
More informationCity of Cocoa FY 2010 Utility Rate Study. Final Report. Water, Sewer & Reclaimed Water Rates, Fees & Charges Study. Prepared by:
p FY 2010 Utility Rate Study Water, Sewer & Reclaimed Water Rates, Fees & Charges Study June 29, 2010 Prepared by: June 29, 2010 W.E. Mack Finance Director 65 Stone Street Cocoa, FL 32922 Re: FY 2010
More informationYORK COUNTY, SOUTH CAROLINA
YORK COUNTY, SOUTH CAROLINA Water and Sewer Financial Planning and Rate Study Report October 25, 2017 1031 S. Caldwell Street Suite 100 Charlotte, NC 28203 Phone 704.373.1199 Fax 704.373.1113 www.raftelis.com
More informationQueen Creek Annual Budget Organizational Structure
Organizational Structure Town Organizational Chart Employees by Department Staffing Level Changes Fund Structure Chart Fund Structure Narrative Where the Money Comes From Where the Money Goes 60 TOWN ORGANIZATIONAL
More informationRule 15c2-12 Filing Cover Sheet. Filing Format: electronic paper; If available on the Internet, give URL:
Rule 15c2-12 Filing Cover Sheet Issuer Name: City of League City, Texas 300 West Walker League City, Texas 77573 Issues: League City, Texas (see attached summary) Filing Format: electronic paper; If available
More informationTOWN OF ORO VALLEY WATER UTILITY COMMISSION WATER RATES ANALYSIS REPORT OCTOBER 7, 2009
TOWN OF ORO VALLEY WATER UTILITY COMMISSION WATER RATES ANALYSIS REPORT OCTOBER 7, 2009 EXECUTIVE SUMMARY The functions and duties of the Oro Valley Water Utility Commission include reviewing and developing
More informationCity of Auburndale, Florida FINANCIAL STATEMENTS
City of Auburndale, Florida FINANCIAL STATEMENTS For the Year Ended City of Auburndale, Florida TABLE OF CONTENTS FINANCIAL SECTION Independent Auditor s Report Management s Discussion and Analysis Basic
More informationBudgeting and Financial Responsibilities for Elected Officials. Presented by Gregory S. Allison UNC School of Government
Budgeting and Financial Responsibilities for Elected Officials Presented by Gregory S. Allison UNC School of Government Purpose of Presentation Identify the role elected officials must play in the budget
More informationSENATE BILL No Introduced by Senator Beall. February 22, 2013
SENATE BILL No. 629 Introduced by Senator Beall February 22, 2013 An act to amend Section 98 of the Revenue and Taxation Code, relating to local government. legislative counsel s digest SB 629, as introduced,
More informationCITY OF WARNER ROBINS, GEORGIA ANNUAL FINANCIAL REPORT YEAR ENDED JUNE 30, 2014
CITY OF WARNER ROBINS, GEORGIA ANNUAL FINANCIAL REPORT YEAR ENDED NICHOLS, CAULEY & ASSOCIATES, LLC Certified Public Accountants Certified Financial Planners Certified Internal Auditors Certified Government
More informationEagle River Water and Sanitation District Vail, Colorado. Financial Statements December 31, 2013
Vail, Colorado Financial Statements Financial Statements Table of Contents Page INDEPENDENT AUDITOR S REPORT Management s Discussion and Analysis A1 A2 B1 B8 Basic Financial Statements: Statement of Net
More information1. The City of Boise shall annually adopt a balanced budget where operating revenues are equal to, or exceed, operating expenditures.
Accounting, Auditing, and Financial Reporting Policies 1. The shall promote organized financial planning, budgeting, and accounting to assure disclosure of all financial transactions and to facilitate
More informationOAKLAND OVERSIGHT BOARD
OAKLAND OVERSIGHT BOARD R E SOLUTION N O. 2018- A RESOLUTION APPROVING THE ISSUANCE OF REFUNDING BONDS BY THE OAKLAND REDEVELOPMENT SUCCESSOR AGENCY, AND MAKING CERTAIN DETERMINATIONS WITH RESPECT TO THE
More informationDefining a Resilient Business Model for Water Utilities
Defining a Resilient Business Model for Water Utilities Water Research Foundation Project #4366 Shadi Eskaf, Environmental Finance Center at UNC eskaf@sog.unc.edu www.efc.unc.edu National Water & Wastewater
More informationUnderstanding SB 1525
Understanding SB 1525 Arizona s Assault on Municipal Impact Fees October 27, 2011 Andrew J. McGuire Gust Rosenfeld, PLC Peter W. Culp Squire, Sanders & Dempsey LLP Overview: Part I Impact Fee Reform and
More informationFINANCIAL AND DEBT MANAGEMENT POLICIES
As instructed by the County Board at FY 2017 budget adoption, the County Manager was to provide an analysis of the County s various reserves and funding level; including criteria for utilization of certain
More informationRECOMMENDATION Adopt a Resolution approving the Debt Management and Disclosure Policy.
Page 1 of 14 Office of the City Manager ACTION CALENDAR March 14, 2017 To: From: Honorable Mayor and Members of the City Council Dee Williams-Ridley, City Manager Submitted by: Henry Oyekanmi, Director,
More informationCentral Texas Water Efficiency Network Water Rates and Revenue Workshop
Central Texas Water Efficiency Network Water Rates and Revenue Workshop Jeff Hughes, UNC Environmental Finance Center jhughes@sog.unc.edu www.efc.sog.unc.edu Austin, Texas November 13, 2013 http://efc.sog.unc.edu
More informationFORT BEND COUNTY MUNICIPAL UTILITY DISTRICT NO. 128 FORT BEND COUNTY, TEXAS FINANCIAL REPORT. July 31, 2018
FORT BEND COUNTY MUNICIPAL UTILITY DISTRICT NO. 128 FORT BEND COUNTY, TEXAS FINANCIAL REPORT Table of Contents Schedule Page Independent Auditors Report 1 Management s Discussion and Analysis 5 BASIC
More informationVillaSol Community Development District. Basic Financial Statements For the Year Ended September 30, 2017
Basic Financial Statements For the Year Ended September 30, 2017 Table of Contents Independent Auditor s Report 1-2 Management's Discussion and Analysis (Not Covered by Independent Auditor s Report) 3-6
More informationTemescal Valley Water District
Temescal Valley Water District Comprehensive Water, Recycled Water, and Wastewater Cost of Service Study Draft Report / December 7, 2016 24640 Jefferson Avenue Suite 207 Murrieta, CA 92562 Phone 951.698.0145
More informationIt s Budget Time! Contents
Introduction In this publication, we have summarized the major changes in state law that affect city/ town budgets. We suggest review of this special report by all persons directly involved in the budget
More informationIt s Budget Time! Contents
Introduction In this publication, we have summarized the major changes in state law that affects city/ town budgets. We suggest review of this special report by all persons directly involved in the budget
More informationEagle River Water and Sanitation District Vail, Colorado. Financial Statements December 31, 2014
Vail, Colorado Financial Statements Financial Statements Table of Contents Page INDEPENDENT AUDITOR S REPORT Management s Discussion and Analysis A1 A2 B1 B8 Basic Financial Statements: Statement of Net
More informationWater Research Foundation #4366 Defining a Resilient Business Model for Water Utilities Part 1
Water Research Foundation #4366 Defining a Resilient Business Model for Water Utilities Part 1 Blog Posts Appendix B Presenters Mary Tiger University of North Carolina Environmental Finance Center
More informationMINUTES OF THE CAPITAL IMPROVEMENTS ADVISORY COMMITIEE MEETING, HELD AT 6:30P.M., FEBRUARY 13, 2017, 757 NORTH GALLOWAY AVENUE, MESQUITE, TEXAS
MINUTES OF THE CAPITAL IMPROVEMENTS ADVISORY COMMITIEE MEETING, HELD AT 6:30P.M., FEBRUARY 13, 2017, 757 NORTH GALLOWAY AVENUE, MESQUITE, TEXAS Present: Chairman Ronald Abraham, Vice Chair Mike Potter,
More informationPATTERSON PUBLIC FINANCING AUTHORITY ANNUAL FINANCIAL REPORT AS OF JUNE 30, 2016 WITH INDEPENDENT AUDITOR'S REPORT
ANNUAL FINANCIAL REPORT AS OF WITH INDEPENDENT AUDITOR'S REPORT ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED TABLE OF CONTENTS Page Independent Auditor's Report 1-2 Government-wide Financial Statements Statement
More informationTRANSIT LIFE CYCLE POLICIES
TRANSIT LIFE CYCLE POLICIES DRAFT January 6, 2011 Table of Contents GUIDING PRINCIPLE 1: A defined and consistent process will be established for allocating funding for projects in the Regional Transportation
More informationIt s Budget Time! Contents
Introduction In this publication, we have summarized the major changes in state law that effect city/ town budgets. We suggest review of this special report by all persons directly involved in the budget
More informationARLINGTON COUNTY, VIRGINIA. County Board Agenda Item Meeting of April 22, 2017
ARLINGTON COUNTY, VIRGINIA County Board Agenda Item Meeting of April 22, 2017 DATE: April 21, 2017 SUBJECT: Fiscal Year 2018 County Budget Resolution and Appropriations Resolution C. M. RECOMMENDATIONS:
More informationVILLAGE OF THE CITY OF GALLIPOLIS GALLIA COUNTY DECEMBER 31, 2017 AND 2016 TABLE OF CONTENTS. Independent Auditor s Report... 1
VILLAGE OF THE CITY OF GALLIPOLIS GALLIA COUNTY DECEMBER 31, 2017 AND 2016 TABLE OF CONTENTS TITLE PAGE Independent Auditor s Report... 1 Prepared by Management: Management s Discussion and Analysis December
More informationBroward County, Florida
Broward County, Florida Arbitrage Rebate Services June 6, 2018 PFM Asset Management LLC 213 Market Street Harrisburg, PA 17101 Phone: 717.232.2723 Fax: 717.233.6073 www.pfm.com PFM 1 Advice for People
More informationMARINA COAST WATER DISTRICT FINANCIAL PLAN AND RATE AND FEE STUDY FINAL REPORT. September 2013
MARINA COAST WATER DISTRICT FINANCIAL PLAN AND RATE AND FEE STUDY FINAL REPORT September 2013 10540 TALBERT AVENUE, SUITE 200 EAST FOUNTAIN VALLEY, CALIFORNIA 92708 P. 714.593.5100 F. 714.593.5101 MARINA
More informationImplications of the Absence of a Use Tax on Utilities for Education Funding
Implications of the Absence of a Use Tax on Utilities for Education Funding Report Number 2003-124 January 2003 Prepared for The Florida Senate Prepared by Committee on Finance and Taxation [COMMENT1]
More informationJeff Hughes, Environmental Finance Center at UNC
Moving Beyond Dollars Per Gallons Sold (#38983) Defining a Resilient Business Model for Water Utilities Water Research Foundation #4366 ACE 2013 DENVER Wednesday; 3:30 5:00PM Jeff Hughes, Environmental
More informationEAST BOULDER COUNTY WATER DISTRICT FINANCIAL STATEMENTS. December 31, 2008
EAST BOULDER COUNTY WATER DISTRICT FINANCIAL STATEMENTS December 31, 2008 Table of Contents FINANCIAL SECTION Independent Auditors= Report 1 Management=s Discussion and Analysis 2-6 Exhibit 1- Statement
More informationPATTERSON PUBLIC FINANCING AUTHORITY ANNUAL FINANCIAL REPORT AS OF JUNE 30, 2015 WITH INDEPENDENT AUDITOR'S REPORT
ANNUAL FINANCIAL REPORT AS OF WITH INDEPENDENT AUDITOR'S REPORT ANNUAL FINANCIAL REPORT FOR THE YEAR ENDED TABLE OF CONTENTS Page Independent Auditor's Report 1-2 Government-wide Financial Statements Statement
More informationCUSIP Numbers. * Retired as of the date of this report. January 31, 2016
Improvement Area No. 1 of the City of Merced Community Facilities District No. 2005-1 (Bellevue Ranch West) $7,410,000 Special Tax Bonds, Series 2006 Continuing Disclosure Annual Report for Fiscal Year
More informationZONE 7 WATER AGENCY POLICY AND PROCEDURE
ZONE 7 WATER AGENCY POLICY AND PROCEDURE POLICY TITLE: DEBT POLICY NUMBER: Z7AF-142-17 PAGE: 1 of 11 APPROVED BY: BOARD OF DIRECTORS REVISION: EFFECTIVE DATE: JUNE 21, 2017 1. STATEMENT OF CAPITAL FINANCING
More informationVILLAGE COMMUNITY DEVELOPMENT DISTRICT NO. 9. Basic Financial Statements. September 30, (With Independent Auditors Report Thereon)
Basic Financial Statements (With Independent Auditors Report Thereon) Table of Contents Financial Section Independent Auditors Report on the Financial Statements 1 Management s Discussion and Analysis
More informationTax Exemptions & Tax Incidence. A Biennial Report Produced by The Texas Comptroller of Public Accounts
Tax Exemptions & Tax Incidence A Biennial Report Produced by The Texas Comptroller of Public Accounts Presentation by Curtis Toews curtis.toews@cpa.state.tx.us Revenue Estimating Conference Federal of
More informationGALVESTON COUNTY MUNICIPAL UTILITY DISTRICT NO. 12 GALVESTON COUNTY, TEXAS ANNUAL AUDIT REPORT SEPTEMBER 30, 2017
GALVESTON COUNTY MUNICIPAL UTILITY DISTRICT NO. 12 GALVESTON COUNTY, TEXAS ANNUAL AUDIT REPORT SEPTEMBER 30, 2017 C O N T E N T S INDEPENDENT AUDITOR S REPORT 1-2 MANAGEMENT S DISCUSSION AND ANALYSIS 3-7
More information75th OREGON LEGISLATIVE ASSEMBLY Regular Session. Enrolled. Senate Bill 916 CHAPTER... AN ACT
75th OREGON LEGISLATIVE ASSEMBLY--2009 Regular Session Sponsored by Senator MORSE Enrolled Senate Bill 916 CHAPTER... AN ACT Relating to local government budgets; creating new provisions; and amending
More informationPARTNERSHIP AUDIT REGULATIONS The Great Unknown
2018 FTA Annual Meeting June 3 6, 2018 Nashville, TN PARTNERSHIP AUDIT REGULATIONS The Great Unknown Nikki Dobay, Senior Tax Counsel, Council On State Taxation Helen Hecht, General Counsel, Multistate
More information2015 Update of Water and Wastewater Impact Fees
2015 Update of Water and Wastewater Impact Fees Prepared for the City of Georgetown Prepared by: Georgetown Utility Services and Chisholm Trail Special Utility District Capital Improvements Advisory Committees
More informationFixed Income Conference March 11, 2014
Fixed Income Conference March 11, 2014 2014 by FINRA. All Rights Reserved. The FINRA Fixed Income Conference Video is reproduced by permission of the Financial Industry Regulatory Authority, Inc. (FINRA)
More informationCITY OF LAKE BUENA VISTA, FLORIDA ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS
ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS Year Ended September 30, 2013 ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS Year Ended September 30, 2013 TABLE OF CONTENTS REPORT OF INDEPENDENT CERTIFIED
More informationGENERAL FUND REVENUES BY SOURCE
BUDGET DETAIL BUDGET DETAIL The Budget Detail gives more information on the budget, than is shown in the Executive Summary. Detail information is provided on the General Fund, Special Revenue Funds, Enterprise
More informationStrategic Plan of Work & Projections. Development of the Plan of Work
Strategic Plan of Work & Projections The Strategic Plan of Work & Projections portion of this document provides a narrative discussion of the County s longterm planning process and links the policy making
More informationDEBT MANAGEMENT POLICY
DEBT MANAGEMENT POLICY CROW WING COUNTY BRAINERD, MINNESOTA Adopted by County Board July 9, 2013 Amended July 25, 2017 Our Vision: Being Minnesota s favorite place. Our Mission: Serve well. Deliver value.
More informationCARSON CITY CONSOLIDATED MUNICIPALITY NOTICE OF MEETING OF THE BOARD OF SUPERVISORS AGENDA
CARSON CITY CONSOLIDATED MUNICIPALITY NOTICE OF MEETING OF THE BOARD OF SUPERVISORS Day: Thursday Date: July 5, 2018 Time: Beginning at 8:30 am Location: Community Center, Sierra Room 851 East William
More informationRemington Community Development District ANNUAL FINANCIAL REPORT. September 30, 2016
ANNUAL FINANCIAL REPORT ANNUAL FINANCIAL REPORT TABLE OF CONTENTS Page Number REPORT OF INDEPENDENT AUDITORS 1-3 MANAGEMENT S DISCUSSION AND ANALYSIS 4-9 BASIC FINANCIAL STATEMENTS Government-wide Financial
More information2017 UTILITY RATE STUDY WORK SESSION #2: BACKGROUND, EDUCATIONAL/INFORMATIONAL
2017 UTILITY RATE STUDY WORK SESSION #2: BACKGROUND, EDUCATIONAL/INFORMATIONAL Receive a presentation from Lewis Young Robertson & Burningham regarding the 2017 Utility Rate Study The purpose of the Council
More informationDexter District Library Dexter, Michigan FINANCIAL STATEMENTS. September 30, 2016
Dexter, Michigan FINANCIAL STATEMENTS TABLE OF CONTENTS Page INDEPENDENT AUDITOR S REPORT MANAGEMENT S DISCUSSION AND ANALYSIS i-ii iii-vi BASIC FINANCIAL STATEMENTS Government-wide Financial Statements
More informationREGULATORY CHANGES IN THE MUNICIPAL BOND MARKET: CONSIDER THE IMPACT ON YOU
REGULATORY CHANGES IN THE MUNICIPAL BOND MARKET: CONSIDER THE IMPACT ON YOU ILLINOIS COMMUNITY COLLEGE CHIEF FINANCIAL OFFICERS SPRING CONFERENCE TAMMIE BECKWITH SCHALLMO MANAGING DIRECTOR PMA SECURITIES,
More informationARIZONA POWER AUTHORITY (A BODY, CORPORATE AND POLITIC, OF THE STATE OF ARIZONA) PHOENIX, ARIZONA FINANCIAL STATEMENTS SEPTEMBER 30, 2014 AND 2013
(A BODY, CORPORATE AND POLITIC, OF THE STATE OF ARIZONA) PHOENIX, ARIZONA FINANCIAL STATEMENTS TABLE OF CONTENTS INDEPENDENT AUDITORS' REPORT 1 MANAGEMENT S DISCUSSION AND ANALYSIS 3 FINANCIAL STATEMENTS
More informationHOLLEY- NAVARRE WATER SYSTEM, INC.
CONSOLIDATED FINANCIAL STATEMENTS AND SUPPLEMENTARY INFORMATION DECEMBER 31, 2016 AND 2015 V4arren 1 verett CFAs AND ADVISORS TABLE OF CONTENTS DECEMBER 31, 2016 AND 2015 INDEPENDENT AUDITORS' REPORT 1
More informationFINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT 5 LAKEWOOD RANCH, FLORIDA SEPTEMBER 30, 2017
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT 5 SEPTEMBER 30, 2017 FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT
More informationBIENNIAL REPORT OF THE NORTH CAROLINA UTILITIES COMMISSION
BIENNIAL REPORT OF THE NORTH CAROLINA UTILITIES COMMISSION TO THE GOVERNOR OF NORTH CAROLINA, THE ENVIRONMENTAL REVIEW COMMISSION, AND THE JOINT LEGISLATIVE COMMISSION ON GOVERNMENTAL OPERATIONS REGARDING
More informationContinuing Disclosure Annual Report
Continuing Disclosure Annual Report For Fiscal Year Ending June 30, 2015 Sanitary District No. 1 of Marin County $30,155,000 Ross Valley Public Financing Authority (Sanitary District No. 1 of Marin County)
More informationFrom: Lex Warmath and Elaine Conti, Raftelis Financial Consultants, Inc.
227 West Trade Street Phone 704 373 1199 www.raftelis.com Suite 1400 Fax 704 373 1113 Charlotte, NC 28202 Date: June 21, 2016 To: Mr. Bob Walker, Executive Director From: Lex Warmath and Elaine Conti,
More informationCITY OF SALEM BUDGET COMMITTEE MEMBER GUIDE. Steve Powers City Manager. Kacey Duncan Deputy City Manager. January Role of the Budget Committee
Role of the Budget Committee CITY OF SALEM BUDGET COMMITTEE MEMBER GUIDE Steve Powers City Manager Kacey Duncan Deputy City Manager Budget committees are required in Oregon s Local Budget Law, which can
More informationDebt Affordability Study
Texas Bond Review Board Debt Affordability Study This study provides data on the state s historical, current and projected debt positions and develops financial data from which policymakers can review
More informationIt s Budget Time! Contents
Introduction In this publication, we have summarized the major changes in state law that effect city/ town budgets. We suggest review of this special report by all persons directly involved in the budget
More informationMinnesota House of Representatives
Minnesota House of Representatives Minnesota House of Representatives Overview of Minnesota State Budget January 2017 Bill Marx, Chief Fiscal Analyst Minnesota House Fiscal Staff (www.house.leg.state.mn.us/fiscal/fahome.asp)
More informationFINANCIAL STATEMENTS. June 30, 2017 and 2016
FINANCIAL STATEMENTS June 30, 2017 and 2016 CONTENTS Page INDEPENDENT AUDITORS' REPORT ON FINANCIAL STATEMENTS AND SUPPLEMENTAL INFORMATION 3-4 MANAGEMENT'S DISCUSSION AND ANALYSIS 5-11 FINANCIAL STATEMENTS
More informationCity and Borough of Juneau, AK WATER UTILITY AND WASTEWATER UTILITY RATE STUDY
City and Borough of Juneau, AK WATER UTILITY AND WASTEWATER UTILITY RATE STUDY Summary of Findings October 2003 Financial Consulting Solutions Group, Inc. 8201 -- 164th Ave. NE, Suite 300, Redmond, WA
More information1. Accept staff report on the updated study of cost of service to provide potable water to San Jose Municipal Water System (SJMWS) customers; and
CITY OF Cr SAN IPSE CAPITAL OF SILICON VALLEY TO: HONORABLE MAYOR AND CITY COUNCIL SUBJECT: MUNICIPAL WATER SYSTEM COST OF SERVICE STUDY COUNCIL AGENDA: 05/09/17 ITEM: 7.2 Memorandum FROM: Kerrie Romanow
More informationCHEROKEE COUNTY WATER AND SEWERAGE AUTHORITY CHEROKEE COUNTY, GEORGIA FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED AUGUST 31, 2017
CHEROKEE COUNTY WATER AND SEWERAGE AUTHORITY CHEROKEE COUNTY, GEORGIA FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED AUGUST 31, 2017 TOGETHER WITH INDEPENDENT AUDITORS REPORTS FINANCIAL STATEMENTS AUGUST
More informationBig Chino Water Ranch Project Impact Analysis Prescott & Prescott Valley, Arizona
Big Chino Water Ranch Project Impact Analysis Prescott & Prescott Valley, Arizona Prepared for: Central Arizona Partnership August 2008 Prepared by: 7505 East 6 th Avenue, Suite 100 Scottsdale, Arizona
More informationFINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT 6 LAKEWOOD RANCH, FLORIDA SEPTEMBER 30, 2018
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT 6 SEPTEMBER 30, 2018 FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT
More informationVILLAGE OF OTTAWA HILLS LUCAS COUNTY TABLE OF CONTENTS. Independent Auditor s Report Management s Discussion and Analysis...
VILLAGE OF OTTAWA HILLS LUCAS COUNTY TABLE OF CONTENTS TITLE PAGE Independent Auditor s Report... 1 Management s Discussion and Analysis... 5 Basic Financial Statements: Government-Wide Financial Statements:
More informationCITY OF BREVARD
ANNUAL BUDGET ESTIMATE - REVENUE Amended - 2018-2019 CITY OF BREVARD FY 2017-2018 2016-2017 2017-2018 4/30/2018 2017-2018 2018-2019 Account Actual ($) Budget ($) Actual ($) Estimate %Remaining Requested
More informationCITY OF LAKE BUENA VISTA, FLORIDA ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS
CITY OF LAKE BUENA VISTA, FLORIDA ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS Year Ended September 30, 2015 CITY OF LAKE BUENA VISTA, FLORIDA ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS Year Ended
More informationPELICAN MARSH COMMUNITY DEVELOPMENT DISTRICT FINANCIAL STATEMENTS
FINANCIAL STATEMENTS TABLE OF CONTENTS PAGE PART I. FINANCIAL SECTION Independent Auditor s Report 1-2 Management s Discussion and Analysis (MD&A) 3 Basic Financial Statements: Government-wide Financial
More informationSession of SENATE BILL No By Committee on Assessment and Taxation 3-7
Session of 0 SENATE BILL No. By Committee on Assessment and Taxation - AN ACT concerning motor fuels tax; relating to rates and trip permits; amending K.S.A. 0 Supp. -b, -, and -, and repealing the existing
More informationNIAGARA FALLS WATER BOARD Basic Financial Statements, Supplementary Information and Independent Auditors Report December 31, 2017 and 2016
Basic Financial Statements, Supplementary Information and Independent Auditors Report December 31, 2017 and 2016 Table of Contents Independent Auditors Report 1-3 Management s Discussion and Analysis 4-10
More informationCOMMUNITY DEVELOPMENT COMMISSION OF THE CITY OF ROHNERT PARK AGENDA ITEM TRANSMITTAL REPORT. Meeting Date: September 27, 2011
OAK #4831-8066-6890 v2 Agenda Packet Preparation TIMELINES for Regular City Council Meetings held on the 2 nd & 4 th Tuesdays of each month: Resolutions (other than standard formats for authorizations
More informationWORKSHOP BRIEFING DOCUMENT: Comprehensive Water and Wastewater Rate and Charge Study
WORKSHOP BRIEFING DOCUMENT: Comprehensive Water and Wastewater Rate and Charge Study July 31, 2007 HCD/GAI# A070574.01 Purpose of Rate Study Provide For Revenue Sufficiency Charge Customers Based On Costs
More informationState of Minnesota HOUSE OF REPRESENTATIVES
This Document can be made available in alternative formats upon request 02/20/2017 State of Minnesota HOUSE OF REPRESENTATIVES 1401 NINETIETH SESSION H. F. No. Authored by Halverson, Rosenthal, Hoppe,
More informationBasic Legal Requirements for the Budget, Tax Rate, and Audit. Bill Longley TML Legislative Counsel
Basic Legal Requirements for the Budget, Tax Rate, and Audit Bill Longley TML Legislative Counsel Key Budget Questions What statute governs budget adoption? Local Government Code Chapter 102 Is an annual
More informationPEACHTREE CITY WATER AND SEWERAGE AUTHORITY
PEACHTREE CITY WATER AND SEWERAGE AUTHORITY (A COMPONENT UNIT OF PEACHTREE CITY, GEORGIA) FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2014 PEACHTREE CITY WATER AND SEWERAGE AUTHORITY FINANCIAL
More informationCITY OF LAKE BUENA VISTA, FLORIDA ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS
ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS Year Ended September 30, 2014 ANNUAL FINANCIAL REPORT AND COMPLIANCE REPORTS Year Ended September 30, 2014 TABLE OF CONTENTS REPORT OF INDEPENDENT CERTIFIED
More informationSEMINOLE COUNTY, FLORIDA ANNUAL REPORT TO BONDHOLDERS
SEMINOLE COUNTY, FLORIDA ANNUAL REPORT TO BONDHOLDERS For the fiscal year ended September 30, 2014 Prepared By Office of the Clerk of the Circuit Court and Comptroller County Finance Department SEMINOLE
More informationAGENDA COUNTY COUNCIL OF ANNE ARUNDEL COUNTY, MARYLAND Legislative Session 2018, Legislative Day No. 3 February 5, :00 P.M.
A. Invocation (Fink) AGENDA COUNTY COUNCIL OF ANNE ARUNDEL COUNTY, MARYLAND Legislative Session 2018, Legislative Day No. 3-7:00 P.M. B. Pledge of Allegiance C. Ethics Statement D. Presentation General
More informationCHEROKEE COUNTY WATER AND SEWERAGE AUTHORITY CHEROKEE COUNTY, GEORGIA FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED AUGUST 31, 2016
CHEROKEE COUNTY WATER AND SEWERAGE AUTHORITY CHEROKEE COUNTY, GEORGIA FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED AUGUST 31, 2016 TOGETHER WITH INDEPENDENT AUDITORS REPORTS FINANCIAL STATEMENTS AUGUST
More informationFiscal Year 2016 and Beyond: Balancing Revenue with Community Expectations
Fiscal Year 2016 and Beyond: Balancing Revenue with Community Expectations St. Johns County Board of County Commissioners Special Meeting January 27, 2015 Michael D. Wanchick St. Johns County Administrator
More informationFinancial Information and Operating Data Pursuant to Securities and Exchange Commission Rule 15c2-12 For the Fiscal Year Ended June 30, 2016
City of Marion, Iowa Annual Report Submitted January 25, 2017 Financial Information and Operating Data Pursuant to Securities and Exchange Commission Rule 15c2-12 For the Fiscal Year Ended June 30, 2016
More informationGLOSSARY. Adopted Budget - The financial plan of revenues and expenditures for a fiscal year as adopted by the Board of County Commissioners.
GLOSSARY Accrual A revenue or expense which gets recognized in the accounting period it is earned or incurred, even if it is received or paid in a subsequent period. Accrual Accounting - A system that
More informationDEBT POLICY Policy 520
DEBT POLICY Policy 520 Table of Contents.1 ROLES AND RESPONSIBILITIES... 1.2 DEBT PLANNING... 1.3 CREDIT OBJECTIVES... 1 3.1 Credit Ratings... 1 3.2 Credit Enhancement... 2.4 PURPOSE, TYPE AND USE OF DEBT...
More informationPAL MAR WATER CONTROL DISTRICT MARTIN AND PALM BEACH COUNTIES, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2016
PAL MAR WATER CONTROL DISTRICT MARTIN AND PALM BEACH COUNTIES, FLORIDA FINANCIAL REPORT FOR THE FISCAL YEAR ENDED SEPTEMBER 30, 2016 PAL MAR WATER CONTROL DISTRICT MARTIN AND PALM BEACH COUNTIES, FLORIDA
More informationESCAMBIA COUNTY, FLORIDA COMMUNITY REDEVELOPMENT AGENCY FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION
ESCAMBIA COUNTY, FLORIDA FINANCIAL STATEMENTS AND REQUIRED SUPPLEMENTARY INFORMATION SEPTEMBER 30, 2014 WITH INDEPENDENT AUDITORS REPORT FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS REPORT SEPTEMBER 30,
More informationFINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT 4 LAKEWOOD RANCH, FLORIDA SEPTEMBER 30, 2017
FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT DISTRICT 4 SEPTEMBER 30, 2017 FINANCIAL STATEMENTS AND INDEPENDENT AUDITORS' REPORT LAKEWOOD RANCH COMMUNITY DEVELOPMENT
More informationPARK CREEK COMMUNITY DEVELOPMENT DISTRICT FINANCIAL STATEMENTS. September 30, 2017
FINANCIAL STATEMENTS FINANCIAL STATEMENTS CONTENTS PAGE Independent Auditors Report... 1-2 Management s Discussion and Analysis... 3-7 Government-wide Financial Statements: Statement of Net Position...
More informationCITY OF THOUSAND OAKS
CITY OF THOUSAND OAKS 2018 Wastewater Financial Plan Update Final Report / June 23, 2017 445 S. Figueroa Street Suite #2270 Los Angeles, CA 90071 Phone 213.262.9300 Fax 213.262.9303 www.raftelis.com June
More informationLAKE MAGDALENE ESTATES WEST SPECIAL DEPENDENT TAX DISTRICT
LAKE MAGDALENE ESTATES WEST SPECIAL DEPENDENT TAX DISTRICT Hillsborough County, Florida for the year ended SEPTEMBER 30, 2018 FINANCIAL STATEMENTS King & Walker, CPAs, PL Certified Public Accountants THIS
More informationPOST ISSUANCE COMPLIANCE FOR GOVERNMENTAL BONDS
POST ISSUANCE COMPLIANCE FOR GOVERNMENTAL BONDS Policy No. 6050 Scope. This Post Issuance Compliance Policy addresses the Issuer s compliance with federal tax, federal securities and state law requirements
More information