Debt Management Software Solution

The Vendor is required to provide debt management software solution for include:
- Business and technical requirements
1. Debt management requirements
•    To avoid unnecessary rounding, vendor’s proposed solution must extend payment amounts such as principal and interest to two (2) decimal places; and purpose allocation codes must extend to four (4) decimal places.
•    Solution must have the ability to maintain (create/update/delete) debt records
•    Solution must automate the setup of an amortization schedule and provide debt schedule processor updates to include split couponing for serial maturities. Vendor’s proposed solution must automate the true interest calculation by parity bond bid.
•    Solution shall perform the calculations necessary to report an issuer’s outstanding debt balances, interest expense, and accrued interest.
•    Solution must allow the agency the ability to approve and reject any debt creation or changes made in vendor’s proposed solution.
•    Solution must monitor debt service payments coming due, send reminder notices to the units’ external contact designees and capture the units’ responses on debt service payments.
2. Solution requirements
•    Solution must provide a role-based access control (RBAC) tiered structure to grant appropriate solution access based on the user’s role and agency needs to create a secure solution.
•    The solution shall provide the ability for the agency to assign a user to multiple access groups and roles and shall keep an audit trail on user activity.
•    Solution must allow a minimum of 200 concurrent users to access the solution.
•    Solution must retain and retrieve records, ensuring support for the department’s requirement to keep records of the debt instrument until maturity plus five years.
•    Solution must provide a workflow process that creates and routes work and identifies milestones throughout the debt management process.
•    Solution shall describe which debt information is made publicly available.
•    Any debt data that is being updated and is not approved by the agency should not be externally visible.
- Reporting requirements
•    Bond query (by unit type, purpose code)
•    Monthly debt service requirements
•    Notice of debt principal and interest due (lgc-131 sent monthly to units)
•    Annual principal and interest requirements (lgc-129)
•    Annual requirements and debt limitations (mb-080)
•    Debt ledger (debt ledger).