Debt Administration

Debt Administration Summary

The Office of Debt Management services outstanding general obligation, revenue, and special obligation debt. It acts as paying agent and bond registrar for all general obligation debt and coordinates debt payments via corporate bond trustees for revenue and special obligation debt.  Additionally, the office calculates payments on state-issued swap agreements and evaluates remarketing agent performance on outstanding variable rate obligations. Finally, the office produces numerous statutorily required reports including the Commissioners of the Sinking Fund Semi-Annual Report.   

Debt Administration Services

• State fund account maintenance
• Custodial account maintenance, investment and reconciliation
• Certification, transfer, voucher, deposit and disbursement document preparation
• Debt service schedule preparation and maintenance
• Swaps and hedge agreement calculation and payments
• GAAP reporting preparation
• Ledger maintenance and reconciliation
• Lease rental report and debt service invoice preparation
• Remarketing agent performance analysis
• Arbitrage compliance oversight
• Coordination with audit and reporting entities
• Continuing duties of the Sinking Fund Commission
• Continuing disclosure for TOS issued conduit debt programs
• On-going issuance management, document retention, and post-issuance compliance