7.1.3 Annual Debt Transparency Report

California Government Code Section 8855(k) requires state and local government issuers to submit an Annual Debt Transparency Report for any issue of debt for which they have submitted a Report of Final Sale to CDIAC on or after January 21, 2017.

An Annual Debt Transparency Report is due to CDIAC within 7 months of the close of the reporting period, defined as July 1 through June 30. This provision makes January 31 the effective deadline for submittal of the report filing. Issuers will continue to submit an Annual Debt Transparency Report to CDIAC on or before January 31 each year until the later date on which the debt is no longer outstanding or the proceeds have been fully spent. At a minimum, the Annual Debt Transparency Report will require issuers to include the following:

Debt authorized during the reporting period, which includes the following:
- Debt authorized at the beginning of the reporting period
- Debt authorized and issued during the reporting period
- Debt authorized but not issued at the end of the reporting period
- Debt authority that has lapsed during the reporting period.
Debt outstanding during the reporting period, which includes the following:
- Principal balance at the beginning of the reporting period
- Principal paid during the reporting period
- Principal outstanding at the end of the reporting period
The use of proceeds of issued debt during the reporting period, which includes the following:
- Debt proceeds available at the beginning of the reporting period
- Proceeds spent during the reporting and the purposes for which it was spent
- Debt proceeds remaining at the end of the reporting period