3333 Founders Road,  - Indianapolis, IN 46268 - (317)471-8500 - Fax (317)872-8501

Bond financing has grown increasingly complex, and demands a high level of expertise from an advisory team to ensure compliance with state and federal regulations. These advisors include bond counsel, underwriter, trustee and accountant. Charles A. Spillman & Company has developed the expertise to provide accounting services pertaining to public finance.

Our firm is one of the few CPA firms that offers certain bond calculations, including bond arbitrage calculations and escrow verifications. Previously these required calculations have been available on a very limited basis, and clients have often had to obtain these services in other geographic areas. Our staff performs these computations, providing clients the convenience of a local contact, rapid turnaround, and often lower rates than they are accustomed to paying.

Bond arbitrage calculations are required every five years on tax-exempt issues. We perform this computation and prepare the appropriate forms if arbitrage is due. We also calculate yield verification on restructured escrow accounts for refunding bond issues. This procedure requires computing the future value of earnings on replacement escrow securities to ensure that the escrow balance will be sufficient to redeem the refunded bond at maturity.