Our focus as service providers is to emphasize excellent customer service and cost savings, so our clients get more than just a relevant, high quality arbitrage rebate report. We develop a strategic approach tailored to each clients’ specific needs and circumstances. And at the end of each calculation cycle, we consult with them to address identified opportunities and/or risks, so that resulting strategies are incorporated in future calculation cycles and bond transactions. All of this is provided as part of our standard fee structure.
Our standard report includes a comprehensive summary of arbitrage yield, rebate, and yield restriction liabilities. We provide a complete discussion and explanation of our approach, as well as detailed schedules and sub-schedules. In every case, we prepare a report that is concise, relevant, and tailored to our client.
Arbitrage is only one of many compliance activities our clients must deal with after closing a new bond issue. The broader context of “post-issuance compliance” also generally includes:
- Ensuring that bond proceeds are spent on qualified purposes
- Monitoring the use of bond financed facilities
- Investing bond proceeds appropriately
- Retaining required records
- Developing appropriate policies
In recent years, the IRS has increased its scrutiny of post-issuance tax compliance through an intensified audit work program focusing on tax exempt bonds. It has also sent compliance check questionnaires to hundreds of issuers and revised IRS Form 990 to solicit detailed information from 501(c)(3) issuers regarding their tax-exempt debt. We believe that issuers who proactively manage their compliance requirements from a “global perspective” are better positioned to respond to regulatory demands while reducing the overall cost of compliance.
Avant is uniquely qualified to partner with our clients in developing a comprehensive post-issuance compliance program that fits their specific compliance needs. Our Big 4 heritage and affiliation with Ballard Spahr enable us to effectively leverage industry best practices to deliver a customized and efficient solution.
Avant Strategic Partners offers value-added consulting services with a focus on delivering bottom line results. We go out of our way to learn and understand our clients’ businesses so that we can better serve their needs—often before they even know they have them! Because we truly view our clients as business partners, we proactively share industry best practices and innovative new solutions that bring them value.
Specific consulting services include, but are not limited to:
- Complex financial analysis
- Developing and marshaling private letter ruling (PLR) requests
- IRS audit support
- Record keeping process improvement initiatives