Berens & Tate Consulting Group


Arbitrage Rebate and Yield Restriction. We do more than just complete arbitrage rebate and yield restriction calculations. Our procedures include reviewing the operation of the funds, monitoring temporary periods, and projecting future rebate liabilities. We track all IRS filing deadlines and requirements to ensure timely filing for each bond. In addition, we routinely contact issuers to discuss our reports, recommendations, and the action plan for every bond.

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Escrow Verification Reports. Our service consists of verification of the mathematical accuracy of certain computations relating to the refunding bonds contained in schedules provided to us by the financial advisor or underwriter. Our report verifies the cash flow sufficiency of the escrow account and that the applicable yield restrictions have been met.

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Schedule K (IRS Form 990). In 2008 the IRS revised the Form 990, which must be filed annually by 501(c)(3) organizations. This revision created the Schedule K, Supplemental Information on Tax Exempt Bonds that must be completed for outstanding bonds issued since 2003. The required information includes a bond issue summary, use of proceeds, private business use, arbitrage, procedures to undertake corrective action, and supplemental information. We assist issuers in the preparation of this extremely detailed and technical form.

Other services

  • Response to IRS Examinations
  • Escrow Yield Management
  • Analysis of Spending Exceptions
  • Debt Service Coverage Reports
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