OpenGov provides a single, clear snapshot of Colorado's debt profile by size, type, and maturity.
The OpenGov Customer Success team worked closely with Stapleton to implement the software and centralize Colorado’s debt data quickly. Now, Stapleton and his staff can view, explore, and report on Colorado’s debt information in one place. And because OpenGov is dynamic and not just a data repository, Stapleton can pivot his view of historical bond issues by account number and funding purpose, giving him the ability to visualize debt in powerful new ways. For example, he can now view pension debt issued by various different departments in a single report, instead of manually compiling and adding up values in Excel.
OpenGov Streamlines Colorado’s Debt Compliance
Another major advantage of centralizing its bond data is simple and reliable compliance. Stapleton now “takes financial information right from OpenGov [in] the format” he needs. This lets him actively manage outstanding debt. MCDC penalties can reach up to $60,000 per bond issue, and “having already settled with the SEC once, the next time there’d be a fine or something worse. OpenGov has alleviated the problem and the stress of debt issuance.”
Legislators Get Rapid Answers to Debt Questions
“Now everything’s at my fingertips,” says Stapleton, “I can search for information quickly.” He continues: “The same legislators who used to wait a week for results were shocked when I could get the answer that they typically need in literally seconds. It’s easy to give legislators the information they need while I’m on the phone with them.”