Full Disclosure: The Public Treasury Podcast from DebtBook

Hosts Tyler Traudt and Nina Enholm explore how technology, capital markets, the economy, and public policy collide with the realities of state and local governments, nonprofits, higher education, and more. Featuring industry-leading guests, each episode breaks down the trends and events shaping public treasury today. DebtBook Disclaimer: https://hubs.la/Q02bT2Yw0

Market Trends and VRDN Insights with Rick White 04/09/2025

Market Trends and VRDN Insights with Rick White In this episode of Full Disclosure, hosts and Nina Enholm sit down with Rick White, an independent consultant and veteran of the municipal finance world with over 20 years of experience in underwriting and remarketing tax-exempt variable rate debt. Rick pulls back the curtain on (VRDNs), Tender Option Bonds, and money market eligible products and explains their structure, benefits, risks, and how they've evolved since the 2008 financial crisis. From his early days on the trading floor at First Union to managing a $30 billion variable rate portfolio at Wells Fargo, Rick provides a front-row view of how the market has shifted over the years. He walks listeners through the mechanics of liquidity facilities, remarketing agents, and the crucial role of bank letters of credit, breaking down complex financial concepts in a clear and candid way. The episode explores what happened when the auction rate market froze, how banks responded, and why investor trust in liquidity dried up seemingly overnight. The conversation wraps with a look at current rate trends, as Rick, Tyler, and Nina analyze recent charts and discuss what might come next for variable rate debt in today’s market environment. Episode Charts Key Takeaways (1) Lessons from the Auction Rate Crisis: The 2008 financial crisis exposed the fragility of auction rate securities and highlighted the importance of strong liquidity support. Rick recounts how frozen markets forced issuers to pivot to VRDNs, often overnight. (2) Modern Tools, Smarter Strategy: Post-2008 reforms like EMMA brought much-needed transparency to the market. Today, issuers can (and should) monitor rates across multiple series and remarketing agents to make data-informed decisions. (3) Variable Rate Debt is Evolving: Despite its complexity, variable rate debt can offer real advantages in the right circumstances. With volatility back in the market, and daily vs. weekly reset modes now diverging by 100+ basis points, the time to re-evaluate strategies is now. /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/36056610

Tariffs, Interest Rates, and What's Next: Economic Update with Mark Vitner 03/12/2025

Tariffs, Interest Rates, and What's Next: Economic Update with Mark Vitner In this episode of Full Disclosure, hosts and sit down with Mark Vitner, Chief Economist at , for an in-depth economic update. Mark unpacks key trends shaping the U.S. economy, analyzing the impact of tariffs, Federal Reserve policy, and shifting supply chains on growth and inflation. With years of experience forecasting economic conditions, Mark provides valuable insights into the current slowdown, explaining how uncertainty in trade policy and capital investment decisions is influencing business strategy. He breaks down the real effects of tariffs on consumer prices and how the Federal Reserve is managing inflation while avoiding recession. During the episode, you’ll gain a deeper understanding of how economic conditions are evolving and what to watch for in the coming months, from potential rate cuts to shifts in housing and manufacturing. If you're looking for an analysis of where the economy is headed, this is an episode you won’t want to miss. Featured Guest: is the Chief Economist at Piedmont Crescent Capital, where he provides strategic economic insights and forecasting for clients across industries. With over 30 years of experience in economic analysis, Mark specializes in assessing U.S. and regional economic conditions, financial markets, and geopolitics, with a focus on their impact on consumers, local economies, housing, and commercial real estate. Before founding Piedmont Crescent Capital, Mark spent nearly three decades at Wells Fargo as a Managing Director and Senior Economist, where he led macroeconomic research and regularly briefed corporate leaders, investors, and policymakers. His expertise also extends to roles at Wachovia, First Union National Bank, and Barnett Bank, where he developed strategic economic outlooks and provided critical analysis for financial institutions. Mark is a recognized thought leader in economic forecasting and has been a frequent speaker at industry conferences, corporate events, and policy discussions. He has also contributed to numerous publications on inflation, monetary policy, and economic development. Top Takeaways from Episode 03: Tariffs & Trade Policy Impact – Tariffs can distort supply chains and increase costs, but their inflationary impact is often overstated. The long-term effects depend on whether they’re used for revenue generation, trade leverage, or reshoring efforts. The Federal Reserve’s Balancing Act – The Fed faces the difficult task of cutting rates to sustain growth while avoiding a resurgence of inflation. Mark predicts three rate cuts in 2025 but sees potential rate hikes resuming in 2026. Federal Debt & Fiscal Concerns – Interest payments on national debt have surpassed defense spending, raising long-term concerns. Future policy shifts may focus on entitlement reform, tax policy adjustments, and government efficiency to curb deficits. /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/35660435

Bond Banks 101: Exploring the First—The Vermont Bond Bank 02/19/2025

Bond Banks 101: Exploring the First—The Vermont Bond Bank In this episode of Full Disclosure, our hosts and explore the unique role of bond banks with Michael Gaughan, Executive Director of the Vermont Bond Bank. Michael shares his expertise on how bond banks provide critical access to capital for small and rural communities, ensuring they can fund essential infrastructure projects without the complexities of direct market access. Michael takes us through the origins of the , the first of its kind in the nation, and explains how it continues to evolve, offering innovative financing solutions that help municipalities manage challenges like rising interest rates, disaster recovery, and sustainability projects. From a small town rebuilding after a devastating fire to statewide efforts to address climate resilience, listeners will gain valuable insights into how bond banks operate, the challenges of financing public projects in rural areas, and why access to equitable, long-term capital is crucial for the sustainability and growth of small communities. Featured Guest: is the Executive Director & Secretary of the Vermont Bond Bank, where he has led efforts to support municipal financing and infrastructure development across the state since 2018. In this role, Michael oversees lending programs that enable local governments, school districts, and other public entities to secure funding for essential projects. He also serves as the Executive Director of the Vermont Educational and Health Buildings Financing Agency, further advancing access to cost-effective capital for educational and healthcare institutions. Michael represents the Bond Bank on the State of Vermont’s Capital Debt Affordability Advisory Committee, providing expert insight on the state's long-term borrowing capacity. His extensive experience in public finance includes serving as a Director at the National Development Council (NDC), where he worked on community development finance initiatives nationwide, and as a public finance banker at PNC, specializing in governmental, housing, and community facilities transactions. In addition to his leadership roles, Michael is actively involved in public finance and economic development organizations. He is a board member of the Northeast State Government Finance Officers Association (NESGFOA), an advisor to the Government Finance Officers Association’s (GFOA) Committee on Economic Development and Capital Planning, and a member of the Executive Committee for the City of Burlington’s Planning Commission. Top Takeaways from Episode 02: How Bond Banks Level the Playing Field – The Vermont Bond Bank provides small and rural communities with access to affordable financing, ensuring that even towns with just a few hundred residents can fund essential infrastructure projects at the same rates as larger municipalities. A History of Innovation – Vermont was home to the first bond bank in the U.S., created to address a capital crunch in the 1970s. Since then, the model has evolved to meet modern financial challenges, offering solutions beyond traditional municipal bonds. Bridging the Gap for Disaster Recovery – Vermont’s Municipal Climate Recovery Fund is a forward-thinking initiative that helps communities secure financing for rebuilding after floods and other climate-related disasters. /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/35339445

Managing Hurricane Helene Disaster Recovery 02/05/2025

Managing Hurricane Helene Disaster Recovery In this episode of Full Disclosure, we share an extraordinary story of resilience, leadership, and community effort in the face of disaster. Our hosts, and , are joined by Melissa Moore, CFO of Buncombe County, and Matt Evans, Financial Planning & Analysis Manager, as they recount their experiences navigating the aftermath of Hurricane Helene, which devastated Western North Carolina. Melissa and Matt share personal and professional accounts of the storm’s impact, from the harrowing challenges of managing emergency operations without communication systems to ensuring that first responders were fed, roads were cleared, and resources were distributed. Melissa reflects on stepping into her role at the Emergency Operations Center (EOC) while Matt describes the importance of documenting every expense for FEMA reimbursement and the painstaking process of modeling the financial impacts of the disaster on the county’s tax base. This episode shows the remarkable spirit of the Buncombe County community, where residents and local businesses rallied with heavy equipment, supplies, and sheer determination to assist in rescue and recovery efforts. Episode Images Featured Guests is the Finance Director for Buncombe County Government, bringing over 15 years of experience in public finance and local government to her role. Since stepping into this position in September 2023, Melissa has focused on advancing financial strategies, managing government bonds, and ensuring sound budgetary processes that align with the County’s goals. Prior to her current role, Melissa served as the Director of Finance for the City of Pflugerville, Texas, where she oversaw financial operations for over two years. Her extensive career includes key positions such as Assistant Director of Finance for the City of San Marcos, Texas, and Finance Program Manager at CPS Energy, one of the largest municipally-owned utilities in the nation. , MPA, CLGBO, is the Financial Planning & Analysis Manager at Buncombe County Government, where he oversees debt issuance, financial forecasting, and the implementation of fiscal regulations to ensure the County’s financial health. With almost ten years of experience at Buncombe County, Matt has spearheaded initiatives ranging from managing multi-million-dollar grants to leading strategic financial planning and risk mitigation efforts. An expert in public finance, Matt has presented on government reporting at the national Workday Rising conference and is a certified Workday Financials power user. He holds a Master of Public Affairs from Western Carolina University, where he was recognized as Public Management Student of the Year, and is passionate about driving innovation and efficiency in local government finance. /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/35161170

A Career of Impact: Los Angeles Treasurer Dan Wiles on Public Finance, Leadership, and His Defining Deal 12/03/2024

A Career of Impact: Los Angeles Treasurer Dan Wiles on Public Finance, Leadership, and His Defining Deal In this episode of Where Public Finance Works, we sit down with Dan Wiles, Assistant Treasurer for Los Angeles County and newly appointed MSRB Board Member, as he reflects on his nearly 40-year career in public finance and prepares for retirement. Join host and guest co-host as they explore Dan’s remarkable journey—from growing up in a small town in Minnesota to becoming a leader in municipal finance for one of the largest counties in the U.S. Dan shares his path from law school to public finance, recounting career-defining moments, including his pivotal role in the landmark 2013 financing of the Riverside County SR-91 Corridor Improvement Project. Dan takes us through the intricacies of structuring multi-layered deals involving sales tax, toll revenue bonds, and federal TIFIA loans while navigating challenges like volatile markets and rigorous rating requirements. In this episode, you’ll gain insight into the teamwork, innovation, and strategic decision-making that shaped the success of this $1.4 billion transportation project, which continues to benefit Southern California commuters today. As Dan prepares to leave LA County, he reflects on his legacy and new role on the MSRB, offering valuable lessons in leadership, collaboration, and the lasting impact of public finance. Featured Guest is the Assistant Treasurer and Tax Collector for Los Angeles County, overseeing the Finance Branch of the Treasurer and Tax Collector’s Office (TTC). His responsibilities encompass Public Finance, Cash Investments, and Defined Contribution Plan Investments, where he brings nearly 40 years of extensive experience in public finance and investment management. Since his appointment to this role in 2019, Dan has played a pivotal part in managing the financial strategies and operations for one of the largest counties in the United States. Before joining the TTC, Dan served as Principal and Chief Compliance Officer at Fieldman, Rolapp & Associates, Inc., a leading municipal advisory firm, where he spent 17 years providing strategic guidance and compliance oversight. His career also includes roles as a financial and investment advisor, as well as bond and underwriters counsel, giving him a well-rounded expertise in public finance. Dan earned his Bachelor of Science in Economics, magna cum laude, and Juris Doctor, magna cum laude, from the University of Minnesota, where he also served as an editor for the Minnesota Law Review. He holds MSRB licenses as a Municipal Advisor Representative (Series 50), Municipal Advisor Principal (Series 54), and Registered Investment Advisor (Series 65). Episode Resources /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/34263695

Leadership in Chicago’s Public Transit Operations with Kevin Bueso 10/02/2024

Leadership in Chicago’s Public Transit Operations with Kevin Bueso In this episode of Where Public Finance Works, we meet Kevin Bueso, Chief Financial Officer at the Regional Transportation Authority (RTA) of Northeastern Illinois. Kevin shares his inspiring journey from Honduras to leading finance operations at one of the country’s largest transit oversight agencies. Join host as he explores Kevin’s strategic initiatives to address the challenges of post-pandemic public transit, the ongoing fiscal cliff, and the role of technology in transforming operations. Kevin discusses the unique challenges the RTA faces as an oversight and funding agency for Chicago’s vast transit system, and how coordination between the RTA and its sister agencies—CTA, Metra, and Pace—is essential for managing public transit services across the metropolitan area. Kevin also shares his approach to future-proofing his team, encouraging staff to continuously question their methods and think strategically about their roles. His leadership balances innovation with operational efficiency, offering valuable lessons for anyone in public finance, transportation, or leadership. Featured Guest is the Chief Financial Officer and Senior Deputy Executive Director of Finance, Innovation, and Technology at the Kevin is responsible for overseeing the financial strategies and operations of the RTA, providing crucial leadership at a pivotal moment for the region’s transit system. His areas of focus include financial planning, budgeting, treasury operations, IT strategy, and capital project management. Before joining the RTA in 2023, Kevin served as Chief Financial Officer for McHenry County, where he contributed his expertise in strategic financial management, change management, and succession planning. His extensive background in local government finance spans roles such as Finance Director for the Village of Round Lake Beach and Assistant Director of Finance for the City of Waukegan, where he gained deep experience in fiscal oversight, budget development, and internal controls. Kevin holds both a Bachelor’s and an MBA in Accounting & Finance from Roosevelt University. He is actively engaged with professional associations and was instrumental in establishing the Illinois Chapter of the Local Government Hispanic Network (LGHN). Fluent in Spanish and originally from Honduras, Kevin brings a unique and global perspective to his work in public finance. Episode Resources /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/33302027

Managing Growth and Public Trust in Local Government with Melissa Moore 09/10/2024

Managing Growth and Public Trust in Local Government with Melissa Moore Join us for an insightful episode of Where Public Finance Works, featuring Melissa Moore, the Finance Director for Buncombe County, North Carolina. Host explores Melissa’s unique transition from the private sector to public finance, sharing how her analytical background and experience in financial planning have driven meaningful change in local government. Melissa discusses her journey from Texas to North Carolina, offering a behind-the-scenes look at her strategic approach to financial planning and cash flow management. She explains how Buncombe County is handling growth and public trust challenges, and how her team focuses on maximizing taxpayer dollars through smart cash investments and long-term financial forecasting. This episode sheds light on the critical role of finance in local government, from managing bond proceeds to planning for future capital projects. Featured Guest is the Finance Director for Buncombe County Government, a role she has held since September 2023. With over 15 years of experience in public finance and local government, Melissa has developed expertise in managing government bonds, overseeing budgetary processes, and fostering financial strategies for municipalities. Before joining Buncombe County, Melissa served as the Director of Finance for the City of Pflugerville, Texas, where she led financial operations for over two years. Her career also includes positions such as Assistant Director of Finance for the City of San Marcos, Texas, and Finance Program Manager at CPS Energy, one of the largest municipally-owned utilities in the U.S. Melissa's well-rounded experience in financial planning, debt management, and government budgeting positions her as a leading voice in public finance, ensuring that government resources are allocated effectively to benefit the community. Episode Resources /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/32944582

Innovating Treasury Operations in Higher Education: Lessons from Denise Laussade 08/27/2024

Innovating Treasury Operations in Higher Education: Lessons from Denise Laussade In this episode of Where Public Finance Works, we explore the remarkable career of Denise Laussade, a distinguished leader in university treasury operations with roles at both Purdue University and Virginia Commonwealth University (VCU). Join host as he uncovers the deep-seated love for dance and music that has been a guiding force in Denise’s life. These artistic passions have seamlessly intertwined with her career in finance, providing a unique perspective. Denise’s professional journey spans different industries, from futures trading in oil, gold, and silver at Texaco to handling a Chapter 11 bankruptcy in the retail and manufacturing sectors. During her 13 years at Purdue University, Denise served as Director of Treasury Operations, where she oversaw cash management, investment partnerships, and debt issuance. Her tenure there deepened her expertise in municipal debt and compliance, while she played a vital role in maintaining the University’s financial health by freezing tuition rates and optimizing financial strategies. Denise’s journey then led her to VCU, where she embraced the role of Treasurer. She shares insights into the unique challenges of managing finances in a smaller, more constrained environment, including the innovative establishment of a quasi-endowment to strengthen VCU’s financial stability. Throughout the episode, Denise highlights the importance of innovation, imagination, and adaptability in the world of finance. Featured Guest is a finance professional with a distinguished career in higher education treasury operations. Her most recent role was as Treasurer at Virginia Commonwealth University, where she was responsible for managing debt, investments, cash, and collections for a university serving over 30,000 students. Her tenure at VCU was marked by her strategic approach to financial management, which included the innovative use of quasi-endowments to bolster VCU's financial stability. Prior to VCU, Denise spent nearly 15 years at Purdue University, where she served as the Senior Director of Treasury Operations. At Purdue, she oversaw a broad spectrum of treasury functions, including daily cash management, banking relationships, and credit card services. In addition to her roles in higher education, Denise has held leadership positions at Darden Restaurants and Dan River Inc., where she honed her skills in corporate finance and strategic planning. Her diverse background and commitment to continuous improvement have made her a respected leader and mentor in the finance community. Episode Resources: /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/32682527

Shaping a Safer Community: Strategic Public Safety Enhancements with Brian Pahle 08/14/2024

Shaping a Safer Community: Strategic Public Safety Enhancements with Brian Pahle In this episode of Where Public Finance Works, we explore the community of Hendersonville, NC alongside Brian Pahle, Assistant City Manager. Join host as he engages Brian in a thought-provoking discussion about his impact on public safety and fiscal management, along with his leadership in transforming the city's administrative landscape. Brian shares his ascent through the ranks from a budget intern to his current role, where he focused on overhauling the city’s public safety protocols. His story includes strategic enhancements in fire services, emergency response, and infrastructure to support a safer community. This episode provides a window into how these initiatives not only improve safety but also integrate with economic and community development. Listeners will gain an inside view of the challenges and triumphs in managing a city known for high-quality service delivery and strategic financial oversight. Discover how Brian and his team’s innovative approach has significantly boosted public safety measures, making Hendersonville a model of effective local governance. Featured Guest serves as the Assistant City Manager of Hendersonville, North Carolina, a role he has held since August 2017. Brian began his professional journey after earning a master's degree in Public Administration from Appalachian State University. His career in Hendersonville began as a Budget & Management Analyst, progressing to Budget & Evaluation Director before assuming his current executive leadership position. In addition to his city roles, Brian has played a significant part in shaping budgetary practices across North Carolina. His leadership in the North Carolina Local Government Budget Association is marked by his tenure as President and his progression through various executive positions, reflecting his deep commitment to excellence and innovation in governmental budgeting. Brian's expertise extends into effective municipal management, budget planning, and fostering community engagement. Episode Resources: /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/32542777

The Strategic Role of Treasury within Utility Authorities with Randall Barnes 07/10/2024

The Strategic Role of Treasury within Utility Authorities with Randall Barnes In this episode of Where Public Finance Works, we explore the dynamic operations at JEA with , the Treasurer who has been steering the financial helm since August 2022. Randall's journey from a small town in East Tennessee to managing billions in Jacksonville’s public utilities is a testament to his dedication and expertise in the public finance sector. Host breaks down Randall’s role, from overseeing debt management and cash forecasting to maintaining strong relationships with rating agencies. Randall shares insights into JEA’s financial strategies, including the complexities of electricity generation and distribution, hedging gas prices, and ensuring operational efficiency. He speaks on the importance of simplicity in financial planning and the critical role of process improvements and staff education in achieving long-term strategic goals. Listeners will gain an understanding of how JEA operates as a community-owned utility, balancing the need to provide reliable and affordable services while supporting economic growth in Jacksonville. Randall also highlights the significant efforts made during the COVID-19 pandemic to support the local community, including innovative financial programs and robust disaster preparedness plans for hurricane season. Join us for an inside look at how Randall and his team at JEA navigate the challenges of public finance, making a meaningful impact on the community they serve. Featured Guest is the Treasurer at JEA. His extensive career began with an MBA in Management Information Systems and a B.S. in Marketing from Tennessee Technological University. Randall’s career includes over 16 years at the Tennessee Valley Authority, where he held positions such as Senior Program Manager for Corporate Investments and Finance, and Senior Securities Analyst. In 2015, he joined the City of Jacksonville as Senior Debt Manager and later advanced to Assistant Treasurer and Treasurer. Since August 2022, Randall has served as the Treasurer at JEA in Jacksonville, Florida. He oversees an array of financial functions, including treasury operations, debt management, investments, rating agency communications, cash forecasting, and more. Episode Resources /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/32064257

The Dynamics of Municipal Markets with Barnet Sherman 06/18/2024

The Dynamics of Municipal Markets with Barnet Sherman In this episode of , join us for a captivating conversation with Barnet Sherman, a financial expert and Professor at Boston University. With over 30 years of experience managing multibillion-dollar portfolios at Morgan Stanley and TIAA, Barnet brings his knowledge and fascinating insights into the world of public finance. Host takes us through Barnet's extensive career, starting from his early days as an analyst to his significant role as a portfolio manager. Barnet reflects on the diverse projects he's been part of, highlighting not only the large-scale transactions for major cities but also the smaller, impactful projects in rural areas that have created jobs and improved community facilities. Barnet also shares his experiences in running portfolios, explaining the intricate balance between analyzing investment values and understanding the broader benefits for investors. He then takes listeners through his time at Neighborly Investments, where he worked on the cutting edge of technology and impact investing. He explains how technology, especially blockchain, is transforming the municipal bond market, offering new opportunities for accessibility and efficiency in public finance. Tune in to hear Barnet's thoughtful perspective on how public finance is evolving, the role of technology in enhancing financial processes, and his unwavering commitment to improving communities through strategic financial management. This episode is a must-listen for anyone interested in the intersection of finance, technology, and public service. Featured Guest is a financial expert with over 30 years of experience managing multibillion-dollar portfolios for prestigious firms such as Morgan Stanley and TIAA. Throughout his distinguished career on Wall Street, Barnet also founded his own hedge fund and has written extensively on the capital markets as a Senior Contributor for Forbes. Currently a Professor at Boston University, Barnet leverages his extensive industry experience to impart practical, real-world insights in his Corporate Finance, Accounting, and Multinational Finance and Trade classes for graduate students. His expert opinions on investing and capital markets have been featured in leading publications including The Wall Street Journal, Barron’s, Bloomberg, The New York Times, Chronicle of Higher Education, CNBC, and Inc. Barnet also leads The Tenbar Group, a consulting firm advising public companies, private equity impact fund portfolio companies, and mission-driven startups in the healthcare, senior care, and housing sectors. His firm specializes in strategic transactions, investment banking, finance, business development, and valuations. Episode Resources /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/31788622

Building Trust for Better Community Outcomes with Mark Funkhouser 05/28/2024

Building Trust for Better Community Outcomes with Mark Funkhouser In this episode of , we’re joined by Mark Funkhouser, an expert in government finance and urban management. From growing up in West Virginia to finding an interest in political science in Pennsylvania, discover the path that led Mark to become a pivotal figure in Kansas City's administration. His career spans various roles, including social worker, director of the Performance Audit Group in Tennessee, and City Auditor in Kansas City. Through each position, Mark shares the importance of using government as a force for good, improving lives through effective management and fiscal responsibility. Join our host, , as he introduces us to Mark's philosophy on leadership and governance. You’ll learn about Mark's strategic initiatives during his tenure as Mayor of Kansas City, where he focused on improving the city's financial health, reducing crime, and managing significant infrastructure projects. Mark's leadership saw Kansas City through the Great Recession, achieving the best financial condition in decades and a notable reduction in crime rates. Mark also reflects on his post-mayoral career and his continued work in public finance and governance, including consulting and teaching, and his ongoing belief in the transformative power of effective public administration. His experience illustrates how effective governance can lead to better community outcomes and financial stability. Featured Guest , president of Funkhouser & Associates, is a distinguished municipal finance expert with decades of government service. As the mayor of Kansas City, Missouri, during the Great Recession, Mark made pivotal decisions to guide the city toward fiscal sustainability. His extensive experience as an auditor—coupled with his recent role as publisher of Governing magazine— has established him as a trusted advisor to government officials nationwide. Mark holds a master’s degree in social work from West Virginia University, an MBA from Tennessee State University, and an interdisciplinary Ph.D. in public administration and urban sociology from the University of Missouri at Kansas City. Episode Resources: /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/31496492

From the Ground Up: Empowering Finance Teams with David Boyd 05/14/2024

From the Ground Up: Empowering Finance Teams with David Boyd In this episode of , join us for an enlightening conversation with David Boyd, the Chief Financial Officer of Mecklenburg County, North Carolina—a region experiencing rapid growth, adding 127,000 to its population since 2020. David shares his journey from the Black Hills of South Dakota to the dynamic financial world of Mecklenburg County. From his initial steps in finance as a young auditor to rising as a leader influencing major fiscal strategies, David's career has been driven by a passion for impactful public service and a dedication to innovative financial management. Join our host, , as he explores David's approach to leading his team through complex challenges. Learn how David's leadership philosophy focuses not just on the 'what' and 'how' of operations but significantly on the 'why,' enhancing his team's engagement and effectiveness. David’s strategic initiatives, especially in capital planning and fiscal management, emphasize transparency and proactive fiscal stewardship, which have been important in managing the county’s substantial budget and capital projects worth billions. David also opens up about the personal side of his job, from how his son perceives his work to the deeper satisfaction that comes from knowing the tangible impact of his efforts on community infrastructure and services. Prepare to be inspired by a finance leader who’s not just keeping the books but rewriting them to better serve his community. This episode not only highlights the strategic role of financial leadership in government but also humanizes the profound impact such roles have on the quality of life in urban environments. Featured Guest , Chief Financial Officer of Mecklenburg County, North Carolina, holds an impressive track record in public and private sectors. Since August 2021, David has directed the financial operations of Mecklenburg County, overseeing a comprehensive array of functions including capital and debt planning, investments, accounting, payroll, procurement, grant management, and payables. His role extends to providing strategic financial support to various county departments, enhancing their efficiency and fiscal responsibility. David's tenure in Mecklenburg is marked by his adept management of complex budgets and his innovative approach to public fiscal administration. Prior to his current role, he made significant impacts as the Finance Director for the City of Durham, North Carolina, starting in 2010, and the City of Thornton, Colorado, where he served in multiple capacities including Tax Auditor, Controller, and Finance Director for over nearly 13 years. A proud alumnus of South Dakota State University, David holds a Bachelor of Science degree in Economics. His commitment to continuous professional development is evident in his credentials as a Certified Public Accountant (CPA), Certified Fraud Examiner (CFE), and Chartered Global Management Accountant (CGMA). /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/31262897

The Evolution of Municipal Finance Technology with Marty Feinstein 04/23/2024

The Evolution of Municipal Finance Technology with Marty Feinstein In this episode of , we explore the remarkable journey of , an influential figure in the fusion of public finance and investment banking technology. Born and bred in New York, Marty’s story begins with his early exposure to computing at Jamaica High School, training on an IBM 1030 mainframe, and progresses through his ascension in the field post completing his master’s from Albany State. Join our host, as he guides us through Marty's story from his foundational programming work at International Paper, creating a forest-yielding algorithm, to his pivotal role at First Boston, where his uncle's advice steered him into the world of public finance. Marty recounts his transition from programming to financial analysis, and how the arrival of PCs and evolving technology shaped the industry. Listen along as he details the profound shifts in bond pricing technology, from the Monroe Bond Calculator to the dominance of Bloomberg terminals. Marty candidly discusses the impact of the Tax Reform Act of 1986, which threw municipal finance into tumult, and how it prompted changes in refunding bonds and the entry of analytical databases. As he reflects on his later roles and working with his team at DebtBook, we learn how Marty’s legacy is defined by a commitment to progress and the ability to harness knowledge for continuous improvement. Featured Guest is the Managing Director of Finance Product & Enablement and Head of Data Analysis/Excel Model Development at DebtBook. He first entered the Public Finance field in 1980 as a computer programmer at First Boston Corporation. In 1995, Marty joined Smith Barney (later to merge with Citi) where he became a director and headed the Finance Structuring Group within the Public Finance Department. Marty also worked for Global Financial Markets Institute as a consultant responsible for training clients in general Public Finance knowledge or Excel cash flow modeling. In April 2020, Marty joined DebtBook to help the team design and build user-friendly internal models to speed data entry of client information and train staff in general Public Finance knowledge. Download Now: /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/30949543

Public-Private Partnerships for Debt & Asset Management with Matt Dull 04/02/2024

Public-Private Partnerships for Debt & Asset Management with Matt Dull FREE PLAYBOOK: In this episode of Where Public Finance Works, we’re joined by Matt Dull, the Associate Vice Chancellor of Student Affairs at Appalachian State University, where he details the complexities of university finance and infrastructure. Join our host, , as he guides listeners through Matt's two decades of innovative leadership, which has significantly shaped the University's living spaces and financial strategies. Matt recounts his efforts in elevating student living standards through creative public-private partnerships (P3). These initiatives have helped redefine residential life on campus by fostering environments conducive to academic success and personal growth. He shares the careful process of increasing campus housing capacity, achieving the addition of over 2,300 beds, while emphasizing the need for affordability and quality. Through Matt’s narrative, we gain insights into the holistic impact of well-designed living spaces on student retention and satisfaction. His commitment to balancing cost-efficiency with the creation of vibrant communities shows the far-reaching benefits of strategic planning in higher education. Featured Guest is the Associate Vice Chancellor of Student Affairs, holding a diverse portfolio that includes Administrative Services, the Child Development Center, Electronic Student Services, University Housing, Staff Development & Strategic Initiatives, Student Affairs Assessment, and Student Affairs Capital Projects. With a distinguished career in higher education administration, Matt has served in pivotal roles, including Director of Administrative Support Services from July 2010 until his promotion to Assistant Vice Chancellor. His extensive experience extends internationally, having held positions such as the Senior Associate Director of Admissions at Appalachian and Director for the University of North Carolina System Office at Fudan University in Shanghai, China. /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/30628233

Technology, Democratizing Data, and the FDTA with Megan Kilgore 03/19/2024

Technology, Democratizing Data, and the FDTA with Megan Kilgore FREE PLAYBOOK: In this episode of , we’re joined by Megan Kilgore, the accomplished City Auditor of Columbus, Ohio. Megan takes us through her journey from a child inspired by public figures like Margaret Thatcher and Sally Ride to becoming a leading force in one of America's fastest-growing cities. She shares her passion for public service and how her upbringing in a hardworking, blue-collar family shaped her values and a people-first approach to government finance. Join our host, , as he leads us through Megan's insights on the complexities of managing a city's finances during rapid growth and maintaining trust with a diverse populace. Megan discusses the innovative solutions her office has implemented, including deploying technology to enhance efficiency without losing the crucial human touch that ensures services are people-focused. Touching upon the , Megan addresses misconceptions around governmental fraud and the act's intention to modernize financial reporting. She shares her passionate view that the FDTA isn't about defending against fraud but rather about democratizing data, making information more accessible and easier to understand, which ultimately serves the public good. Megan's drive for modernization — from "COBOL to cloud" — has marked her tenure as City Auditor, and her leadership has seen Columbus through significant fiscal challenges. This episode not only explores the strategic financial initiatives Megan has spearheaded but also reveals her belief in the creativity and capability of government workers to innovate and excel in public finance management. Featured Guest City Auditor of Columbus, , is the first woman elected to this executive branch position in Columbus. In her role as City Auditor she has pioneered significant advances in fiscal management for the 14th largest city in the United States. Serving since January 2018, Megan's tenure is marked by her supervision of seven critical departments. She handles debt issuance, investor relations, a $2.8 billion investment portfolio, citywide accounting, and payroll services for a workforce of 10,000, while also modernizing three significant technological systems. Megan also imparts her knowledge as an Adjunct Lecturer at The Ohio State University's John Glenn College of Public Affairs. She has been shaping the minds of graduate-level Public Finance students for over a decade, bringing her on-the-ground experience into the academic sphere. /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/30358343

Muni Market Trends: The Golden Era of Public Finance with Justin Marlowe (Part 2) 03/05/2024

Muni Market Trends: The Golden Era of Public Finance with Justin Marlowe (Part 2) In this episode of Where Public Finance Works, , esteemed faculty member at the University of Chicago’s Harris School of Public Policy, returns to share his insight on important shifts within the municipal market. Following where we left off in , Justin takes us through the current renaissance in public finance, celebrating the unleashing of expertise across all levels, from CFOs to billing clerks. He emphasizes the expectation for these professionals to not just execute tasks but to actively engage in policy-shaping discussions, highlighting the shift from static fund allocation to dynamic, informed decision-making that impacts policy and community development. Join our host, , as he and Justin discuss the significant role of the Inflation Reduction Act (IRA) in shaping new financial models, particularly in , and the intricate dance of managing in municipal bonds. Justin also sheds light on the pressing workforce challenges within public finance, marking the need for a diverse skill set in the era of AI and technological advancements. He shares valuable insight into innovative approaches to recruitment and , recognizing the potential of talent with non-traditional backgrounds enriching the public finance workforce. This episode not only underscores the transformational power of and the consequent responsibilities but also showcases public finance as a robust, adaptable field, rising to meet the complexities of a changing world. One undeniable trend is the internationalization of state and local public finance when you talk to borrowers today. Featured Guest is a Research Professor at the University of Chicago’s Harris School of Public Policy and co-hosts the popular podcast “.” His teaching and research are focused on state and local government budgeting, finance, and financial management. He has published five books – including the forthcoming Public Debt Management: Strategy and Evidence – and dozens of articles on the municipal bond market, infrastructure finance, governmental accounting, and local fiscal policy. FREE DOWNLOAD: /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/30195978

Talent Development and Succession Planning with Maureen Joyce 02/20/2024

Talent Development and Succession Planning with Maureen Joyce In this episode of Where Public Finance Works, we explore the inspiring career of Maureen Joyce, whose roots run deep within the city of Boston. With a family legacy in accounting and a personal journey that was shaped by higher education finance, Maureen's narrative intertwines with the growth of prestigious institutions and the city itself. Join our host, , as he guides us through Maureen's contributions to Northeastern University, where she pioneered the Internal Audit department and later, the Accounting department, marking her pivotal role in the university's expansion. Her story is one of mentorship and innovation, highlighted by the (Co-op) program that has groomed generations of finance professionals. Maureen discusses her latest chapter as the of Boston where she shares her vision for government finance, emphasizing the need for innovative practices, technological advancements, and the hiring of new talent within the public sector. Her proactive approach to recruitment and her passion for nurturing new professionals shows that the sustainability of public finance hinges on the fresh perspectives, energy, and innovative capabilities of the next generation. Maureen's advice to young professionals and her outlook on the challenges ahead offer invaluable insights for anyone interested in public finance. Featured Guest is the City Auditor for the City of Boston. In her capacity as Boston's Auditor, Maureen acts as the cornerstone of fiscal oversight for the city, serving as the Comptroller and vital nexus between Boston and its Audit Committee, as well as the external auditors. Maureen's influence extends into the academic realm, where she has been a consultant to various colleges and universities in the Greater Boston Area for nearly nine years. Her previous positions include a tenure as Chief Financial Officer at the Benjamin Franklin Institute of Technology, a pivotal role as a Senior Financial Analyst in Special Projects at Emmanuel College, Director of Sponsored Program Administration at Northeastern University, and a strategic period as Vice President for Finance and Administration, Treasurer at Ave Maria University in Florida. /episode/index/show/a6d5933f-8050-4341-bc0a-1b9158b1ae28/id/30032123

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