CHARLOTTE, N.C.--(BUSINESS WIRE)--DebtBook, a leading provider of software for government and nonprofit treasury and accounting teams, today announced that the Oklahoma State Treasurer’s Office has selected the firm’s Debt Management solution to centralize and unify its debt data management, processes, and reporting.
State Treasurer, Todd Russ, said, “I am proud of my team’s hard work to leverage technology and modernize the debt management function of my office. This platform will be a dynamic tool for staff to oversee the Oklahoma Capitol Improvement Authority.”
The Debt Management Division within the Oklahoma State Treasurer’s Office oversees debt issuance by state governmental entities and advises the Governor and Legislature on matters relating to capital planning and various financing options. The Division also provides staff and administration for the Council of Bond Oversight, which reviews and approves state issuer requests for debt issuance, and the Oklahoma Capitol Improvement Authority (“OCIA”). OCIA serves as the primary issuer of tax-supported debt for the State of Oklahoma and has $1.35 billion in debt outstanding.
“We’re excited to utilize DebtBook to modernize debt management for OCIA,” said Alexandra Edwards, Deputy Treasurer for Debt Management. “Having a centralized data platform will streamline operational processes and provide better insights into our data, enabling our team to do more strategic analysis, which will ultimately drive better decision making and allow the state to better serve the people of Oklahoma.”
Using DebtBook as its centralized debt management platform will enable organization-wide knowledge and increase operational efficiencies for the Oklahoma State Treasurer’s Office. DebtBook will be used to track OCIA debt schedules, issuance details, and historical changes, including refundings. With DebtBook, the Debt Management Division will be able to actively manage upcoming OCIA payments and reporting requirements, prepare year-end financial disclosures, and easily share all debt related information internally and with external stakeholders. Additionally, with DebtBook’s new sizing tool, staff can easily structure, compare, and analyze financing options for OCIA.
“We’re thrilled to work with the Oklahoma State Treasurer’s Office as they streamline their debt management processes, including data management, accounting and financial reporting, scenario analysis, disclosure, tax compliance, and more,” said Tyler Traudt, CEO and Co-Founder of DebtBook. “The work done by the treasury team is critical to the citizens of Oklahoma, and we believe with better tools, they can deliver better financial outcomes.”
About the Oklahoma State Treasurer’s Office & OCIA
The mission of the Office of the State Treasurer is to serve the people of Oklahoma by providing sound banking and investment services, reuniting individuals and businesses with their unclaimed property, and promoting economic opportunities in a fiscally responsible and efficient manner while adhering to the highest professional and ethical standards. Visit oklahoma.gov/treasurer to learn more.
The Oklahoma Capitol Improvement Authority is authorized to issue bonds, notes or other obligations to finance construction of buildings or other facilities for the State of Oklahoma, its departments and agencies. In addition, OCIA helps provide financing for highway infrastructure for continued economic development in the state. Visit oklahoma.gov/ocia to learn more.
About DebtBook
DebtBook offers modern treasury and accounting software designed to help state and local government, higher education, healthcare, and others go from operational overload to strategic leadership.
Our Debt and Cash Management solutions empower strategic treasury and improve financial outcomes by automating operational work and allowing teams to more easily analyze their data and extract valuable insights. Our Lease and Subscription Management solutions give accounting teams hours back to their day by automating GASB 87, ASC 842, and GASB 96 compliance workflows. Visit debtbook.com to see why more than 2,100 organizations nationwide work with DebtBook.
