We are excited to host the first-ever virtual Texas CLASS Public Funds Investment Act Training on October 14 and 15, 2020. Join us for two informative days of learning; this is a great opportunity to enhance your knowledge of managing public funds. The webinar is free of charge, so save your spot today. Below please find the required prerequisites and advanced preparation necessary for each of the applicable sessions. Texas CLASS is a registered CPE sponsor through the Texas State Board of Public Accountancy and a Certified TASBO Educator; attendees can earn up to 8 hours of certified CPE or PFIA credits from a variety of organizations. Please note: this seminar was intended to be a group-live event but has since been transposed to a group Internet-based format due to the ongoing COVID-19 pandemic.
To register for the entire seminar, click the button below and select all sessions. If you’d like to attend an individual session, click the button directly below the course description.
Day One – October 14
This session will provide attendees with the framework to understand and evaluate key fundamentals for investment grade corporate credit issuers and a better understanding of rating migration risk.
At the end of this session, attendees will gain a stronger understanding of the importance of both the top-down and bottom-up fundamental analysis used to determine the strength of corporate credit issuers; attendees will also gain a better understanding of the core and supplemental credit rating metrics implemented by the Nationally Recognized Statistical Rating Organizations (NRSRO).
This session will discuss the current state of economic affairs around the world and across the United States with special attention given to the state of Texas and its major metropolitan areas as well as provide an economic forecast through 2022. We will cover real GDP, inflation, and interest rates as well as discuss the key differences between a second term for the Trump administration and a Biden presidency. Finally this session includes a detailed overview and forecast of the Texas economy focusing on key industries including technology, healthcare, commercial development, and energy.
This session explains today’s most prevalent payment fraud schemes and lays out specific strategies to deter and/or prevent financial losses. In addition, the infamous Business Email Compromise scam and its deviant cousin Vendor Email Compromise will be described and dissected. This session will provide the policies, practices, and procedures that should be implemented to prevent paying a fraudster.
At the end of this session, attendees will understand the primary methods fraudsters employ to steal taxpayer money and the most effective strategies to block those attempts. Attendees will be well equipped to better educate and train their staff on these issues.
Day Two – October 15
When credit analysts evaluate municipal debt, they include an evaluation of the issuer’s investment policies, strategies, and portfolio performance. This session provides an overview of how third-party evaluators, such as rating agencies and institutional investors, assess risk related to an issuer’s investment portfolio and how that assessment fits into their overall credit analysis. Topics include rating methodologies, questions to expect, the role of management, the role of written policies, and differences in emphasis across municipal sectors and across various fund types (e.g. bond, pension, operating funds, endowments).
At the end of this session, attendees will understand the approach that credit evaluators take in assessing investment policies, strategies, and portfolio performance and be prepared to present an approach confidently and comprehensively.
2020 has been a year of many changes, but the one thing that has not changed is GASB’s need to change everything. In this course, we will review the current GASB statements and provide the related implementation guidance in order to stay up-to-date in an ever-changing financial reporting world.
At the end of this session, attendees will have a better understanding of what GASB statements are issued, how they affect the financial reporting model, and the questions to ask in order to determine if a statement is applicable.
We’ve seen this movie before; the Fed lowered rates to nearly zero again, this time in response to the economic slowdown due to COVID-19. With reserves set aside since the Great Recession, sales and property taxes holding up for now, and CARES dollars coming in for some, what strategies work in a low rate environment and what should investors be buying? In this session, we will examine a bit of history as well as look at the current interest rate environment to come up with strategies that will facilitate the preservation of principal and provide a little interest income.
At the end of this session, attendees will understand both the Fed and Treasury’s roles, have reviewed the risks associated with investing, and analyze cashflow to determine the best buckets for investments.
The session is intended to review the best practices for post-issuance compliance with Federal law requirements that apply to tax-exempt bonds. The presenter will discuss her experiences as a tax practitioner in the tax-exempt bond area as she has frequent contact with the IRS in audit and non-audit contexts.
At the end of this session, attendees should have an understanding of their Federal law compliance responsibilities after issuing tax-exempt debt and of strategies that may be used to meet them.