This event took place June 16, 2016, in Falmouth, MA.
This peer exchange was a facilitated-discussion for finance professionals from state departments of transportation to share best practices, and to discuss challenges related to debt management and compliance with applicable policies and regulations. The transportation sector is one of the largest issuers of infrastructure debt, averaging $36 billion in new issuances annually for the period 2005 through 2014. Post-issuance compliance related to municipal bonds is receiving increasing attention from federal oversight agencies such as the Internal Revenue Service (IRS) and the Securities and Exchange Commission (SEC).
The Government Finance Officers Association, National Association of Bond Lawyers and other professional organizations frequently note the importance of having documented, post-issuance policies and procedures. However, there is minimal capacity building focused on tools, techniques and best practices related to developing a strong, post-issuance compliance program that can hold up under regulatory scrutiny and audits. This peer exchange provided capacity building for debt management and compliance staff at state departments of transportation to better address these gaps.
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An information packet was compiled for the peer exchange participants that covered basic concepts and terminology as well as more advanced topics related to post issuance compliance. The information packet included the web links and information sources listed below: