CDIAC Debt Issuance Reporting

State government code prescribes that certain information be reported to the California Debt and Investment Advisory Commission (CDIAC) annually regarding public debt issued by state and local government agencies, and mandates additional reporting requirements specific to debt issuances for Mello-Roos Community Facilities Districts. Furthermore, throughout the year, agencies must report any draws upon the reserve fund to service debt and/or interest payments, and defaults on debt service payments. K&G Public Finance can offer years of experience in post-issuance compliance, and has presented at annual workshops hosted by CDIAC on numerous occasions.

 

1. Yearly Fiscal Status Reports

Pursuant to the amended Mello-Roos Community Facilities Act of 1982, agencies that have issued Community Facilities District bonds after January 1, 1993 must file a report with CDIAC by October 30th of every year until the bond issuance is retired.

To review the Government Code Sections detailing annual reporting requirements, visit the Official California Legislative Information website and enter the following Code Sections into the search box. Visit http://leginfo.legislature.ca.gov.

California Codes Government Section 53359.5

 

2.  Annual Debt Transparency Report

All municipal agencies that have issued public debt on or after January 21, 2017 must comply with additional reporting requirements mandated by Senate Bill 1029. Annual reports must be filed with CDIAC within six months of the end of every fiscal year until the bond issuance is retired.

To review the Government Code Sections detailing annual reporting requirements, visit the Official California Legislative Information website and enter the following Code Sections into the search box. Visit http://leginfo.legislature.ca.gov.

California Codes Government Section 8855 (k)