April 2012
Inside The Advisor

IRS Stresses Importance of Written Compliance Procedures

by Nancy Hill,
Financial Advisor
(630) 271-3343
 
 

Recent changes to Federal Information Return Form 8038-G have highlighted the importance of having written compliance policies in place regarding federal tax requirements.This form, which is generally prepared for you by your Bond Counsel, is filed anytime you issue tax-exempt obligations.  

 

The form now specifically asks whether an Issuer has adopted written procedures for compliance with arbitrage rules and remedial action requirements. The IRS has indicated that Issuers who have such policies in place will receive more favorable treatment in the event that there is a tax problem with respect to one of their issues.

 

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Six Changes Impacting Issuers' Relationship with Public Finance Professionals 

by Maureen Barry,
Financial Advisor 
(630) 271-3341
mbarry@ehlers-inc.com  

 

Congress passed legislation that will affect how Issuers borrow money and how public finance professionals like Ehlers provide financial advisory services. How does federal law impact your organization directly? Some processes will change in the best interest of issuers.     

 

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Ehlers
550 Warrenville Road
Suite 220
Lisle, IL 60532-4311

 

Phone: 630-271-3330
Greetings!

Welcome to the latest edition of The Advisor.

 

In this issue of The Advisor, we wrap up our three-part series focusing on opportunities for success in three Illinois communities. For the third installment of the series, we'll take a look at the City of Charleston, which uses a planning retreat to focus on results and for identifying future goals.  

 

Those of you who read Ehlers' bi-weekly Market Commentary know that the rise and fall of interest rates are a popular reoccurring theme. We take a look at how interest rates impact the refunding of bonds.

 

We bring to your attention recent changes to Federal Return Form 8038-G stressing the importance of written compliance procedures.   

 

Finally, we discuss six important changes when issuing bonds that impact Issuers' relationship with Public Finance professionals.

 

 
Brad Townsend         

 

President and CEO 

 
To Refund or Not Refund? That is a Popular Question.
by Steve Larson, Senior Financial Advisor 

(630) 271-3331

 

Steve Larson
As we have noted in Ehlers' bi-weekly
Market Commentary, when interest rates reached their lowest levels in 45 years in January of this year, many governmental units scheduled sales of bonds. Refinancing, or "Refunding" of existing bonds has particularly increased since the beginning of this year. 

Why do local governments refund debt and what criteria should be used to determine if a refunding is appropriate?

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Opportunities for Success: A Review of Three Communities - Part Three 
by Brad Townsend, Financial Advisor
(630) 271-3335

 

Brad Townsend

In past issues of The Advisor, we began a series of three articles which highlight opportunities for success within three Illinois communities. First, we highlighted the Village of Forsyth as a community which created a strategic plan to best apply resources toward maintaining a quality community.  

 

Next, we focused on the Village of Park Forest, which managed community population and economic development by taking a fresh look at all aspects of the community and its image.  

 

In the final of the three-part series, we are visiting the City of Charleston, which uses a planning retreat as an opportunity for success by identifying priorities and focusing on results. We also comment on how this may apply to your municipality or special district.

 

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Ehlers Market Commentary

 

Are you up to date with current market trends? If not, be sure to check out the Ehlers Market Commentary, which is released every other week.   

 

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