The Municipal Securities Rulemaking Board (MSRB) has adopted a significant rule change to address concerns over conflicts of interest by financial intermediaries in municipal bond underwritings. The change prohibits municipal securities dealers from acting as a financial advisor to a municipal entity on a new bond issue and, subsequently, acting as an underwriter on the … Read more
AWWA and WEF Advocate a New Water Infrastructure Financing Framework In early April, members of the American Water Works Association (AWWA) and Water Environment Federation (WEF) attended a Fly-In event in Washington, DC, to meet with Congressional Members for discussions regarding key issues affecting the water and wastewater industries. Among the issues highlighted was the need … Read more
A couple of school finance tools may be extended through 2015 based on newly-introduced federal legislation. Sen. John Rockefeller, D-W. Va., introduced S. 796 to extend the Qualified Zone Academy Bonds (QZABs) and Qualified School Construction Bonds (QSCBs). These bonds are similar to the Build America Bonds having federal subsidy rates equal to 100 percent … Read more
The Fiscal Year (FY) 2011 federal budget negotiations finally came to an end on April 15, 2011, when President Obama signed House Resolution (HR) 1473. The final Continuing Resolution for the FY 2011 budget included a total of $1 trillion in funding which represented an approximate $40 billion budget cut from the FY 2010 budget. … Read more
It is the time of year when city, township, and county assessors set current market values on property within their taxing district. Whether or not this task is part of auditor/clerk duties, a basic understanding of how this process affects the mill levy value, and consequently the budget, is very important. Determining Total Market Value A … Read more
Sustainability is the buzz word of the industry. Common topics include sustainable water supplies, sustainable construction methods, sustainable infrastructure, and sustainable financial management, to name a few. Sustainability is achieved when we are able to meet our needs today without compromising the opportunity for future generations to meet their needs. “Sustainability means providing an adequate and … Read more