CHARLOTTE, NC, JUNE 25, 2024 – DebtBook, a leading provider of software for government and nonprofit treasury and accounting teams, today announced that Vermont Bond Bank (“the Bond Bank”) has selected the firm’s cloud-based Debt Management solution to modernize its debt data management, processes, and reporting.
The Vermont Bond Bank assists Vermont's municipalities and other qualified public bodies in gaining access to affordable, innovative, and appropriate financing to meet their capital needs. Its loan programs impact the daily lives of Vermonters across the state by financing the classrooms, roads, and water that make daily life possible. The Bond Bank has $612 million in bonds outstanding that support $591 million in loans.
“We are often approached by software providers, but this is the first we’ve chosen. We found the product to be 100% aligned with how we’d build the tool if we had the resources. This will allow us to reduce risk and ensure quality control as we expand our loan products,” said Michael Gaughan, Executive Director of the Vermont Bond Bank.
Using DebtBook’s Debt Management solution will allow the Bond Bank to increase operational efficiencies by consolidating standalone models while adding better visibility into their data. With DebtBook, the Bond Bank will be able to track debt schedules, issuance details, and historical changes, including refundings. It will also allow the Bond Bank to actively manage its continuing disclosure obligations, prepare year-end financial disclosures, structure new loans, and easily share all debt related information internally and with external stakeholders.
“Our Debt Management solution is purpose-built to help organizations, like the Vermont Bond Bank, streamline their debt management processes, including, data management, accounting and financial reporting, disclosure, tax compliance, and more,” said Tyler Traudt, CEO and Co-Founder of DebtBook. “With better tools, we believe the Bond Bank can deliver better financial outcomes and even more positive impact for Vermonters.”
About The Vermont Bond Bank
Established by statute in 1970, the Bond Bank has been facilitating bond financing for Vermont’s local infrastructure for over 50 years. Twice a year, the Bond Bank issues bonds in the public market to fund loans to Vermont municipalities, school districts, and other governmental units through its Pooled Loan Program.
The Bond Bank also co-manages the state revolving funds (SRFs) for water, wastewater, and stormwater infrastructure in collaboration with the Vermont Department of Environmental Conservation. Between the Pooled Loan Program and the SRF program, the Bond Bank manages a loan portfolio of nearly $900 million. Learn more at vtbondbank.org.
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 and 96 compliance workflows. Visit debtbook.com to see why more than 2,100 organizations nationwide work with DebtBook.
Media Inquiries
Liz Speier
liz.speier@debtbook.com
