California Debt and Investment Advisory Commission

2020 Debt Issuance and Public Investment Webinars, Seminars and Conferences

TRANs: Established Tool for Extraordinary Times
June 11, 2020

A tax and revenue anticipation note (TRAN) is a short-term financing tool that may be a critical component of a cash flow solution. Local agencies are experiencing severe revenue disruption and unplanned COVID-19 related expenses. State and local government policies intended to soften the pandemic-induced financial shock on businesses and individuals have delayed the collection of taxes and fees and have relaxed the pursuit of delinquencies. This combination has created extraordinary revenue and expenditures patterns and cash flow problems not seen since the Great Recession. Join us in this webinar to gain a fundamental understanding of what TRANs are, how the securities are used, and how an agency prepares to access the market – individually or as part of a pool. Speakers will discuss the factors an agency should consider when analyzing whether this tool fits in their comprehensive financial strategy. This program qualifies for 1.25 hours of MCLE credit and is considered certifiable by most governing bodies.


Navigating Investor Disclosures During the COVID-19 Crisis
May 1, 2020

With a COVID-induced recession looming, investors are eager for information regarding the financial position of municipal issuers. At minimum, they expect issuers to uphold their continuing disclosure agreements and material event notifications, and to accurately describe their financial situation in initial offering documents. But, how does an issuer provide accurate information regarding its financial condition when circumstances are unprecedented and dynamic? Should issuers make voluntary disclosures to the market? Is there greater risk in disclosing nothing or disclosing what you know in the midst of economic uncertainty? Join us in a discussion of the disclosure challenges faced by issuers, where panelists will aim to provide strategies on how to navigate this very challenging dilemma.


Municipal Market Disclosure
March 3, 2020
Irvine, California

Both the Securities and Exchange Commission (SEC) and the Government Accountability Office noted in their evaluations of the municipal market the need to improve market transparency through better disclosure. Improving the practice of municipal securities market disclosure is an ongoing process, strengthened by annual staff training. This CDIAC seminar will focus on the SEC rules and regulations, in addition to California-specific CDIAC reports, for primary and secondary disclosure practices by public agencies. This program is open to all interested parties.

Advanced Public Funds Investing: The Analytics of Portfolio Selection and Decision-Making
In collaboration with CMTA
January 15-16, 2020
Claremont, California

This interactive one-and-a-half day seminar provides an advanced discussion of portfolio management, including the more complex concepts underlying sound public portfolio analysis and decision-making. The seminar will cover assessing and adjusting liquidity, understanding risk, advanced analytics, and advanced investment analysis concepts. It will also include an investment portfolio case-study simulation to allow seminar participants to place concepts into practice. Following the workshop, participants will be able to translate the concepts learned into management of their portfolios.