Investor Relation Management System

About the Program

Category: Information Technology (Best in Category)

Year: 2015

Oakland County’s Investor Relation Management System is a custom-developed technology tool designed to manage, coordinate, and satisfy the periodic continuing disclosure requirements for the entire duration of bonds issued through a private placement agreement. In September 2013, Oakland County issued $350 million in bonds to refund outstanding callable debt that was originally issued in 2007 to fully fund other post-employment benefits (OPEB). The first series consisted of the majority of the total debt issuance to be repaid over 12 years and included some unique continuing disclosures which require Oakland County to directly provide routine information to the debt issuer. The management solution born out of this project is creative yet simple, and was produced using existing technology and staffing resources. It ensures continued knowledge transfer and bond covenant reporting compliance over a 12-year period. This system was instrumental during the past year in retaining the County’s AAA bond rating, as it provided assurance and documentation to the bond rating agencies that the County was proactively managing the disclosure requirements to minimize the risk exposure.