Bond Proceeds
Management.

Ampersand assists clients in every facet of the bond proceeds process — from evaluation and investment strategy development through vendor payments, disclosure services and post-issuance compliance. An end-to-end solution for public entity bond proceeds management.

Benefits.
  • Establishes a defined flow of funds
  • Identifies competitive investment opportunities
  • Aligns maturities with projected expenses
  • Supports post-issuance compliance
  • Creates administrative efficiency
  • Competitively bids client investments
  • Offers local bank participation options
  • Provides quarterly arbitrage updates
  • Provides interest earnings projections
  • Coordinates IRS filings (8038-T & 8038-R)
Our process

Two stages,
one continuous partnership.

Before the bond closing date, Ampersand analyzes the key aspects of the project and bond issue to recommend an investment strategy aligned with the client's needs — then coordinates a competitive bid process across a broad network of insured institutions.

Stage 01

Planning & Analysis

  • Review of project and proposed draw schedule
  • Review of investment guidelines and policy
  • Project analysis services for a variety of bond issuances
  • Account set-up and disbursement options
  • Market environment and investment strategy review
  • Spend-down eligibility & three-year temporary period analysis
  • Assessment of the client's investment policy
Stage 02

Investment Selection

  • Implementation of the approved plan
  • Competitive bidding across our network
  • Investment approach — safety, liquidity, return
  • Coordinate investment maturities to draw schedule
  • Permissible investments (CDs, deposit accounts), protected by collateral or FHLB letters of credit where appropriate
  • Competitive bid process across a broad network of insured institutions
  • Pledged collateral where appropriate
Fund Dimension Accounting

Every dollar,
traced to its purpose.

We track fund flows across every dimension a public entity manages — so the board, bond counsel and IRS all see the same story.

01

Capital Project Funds

Construction, referendum & issuance proceeds tracked by project.

02

Debt Service Funds

Sinking-fund monitoring, DTC and vendor payments, IRS filings.

03

Operating Funds

Idle-cash investment solutions with next-day liquidity options, subject to program terms.

04

Special & Trust Funds

Community services, food service, pension, self-funded health, OPEB.

Bond Proceeds Consultation

Have an issuance coming up?
Let's plan the flow of funds.

Bring us in before closing. We'll build a spend-down schedule, model arbitrage exposure and coordinate with your bond counsel and underwriter.