2025-06-09T14:38:56-07:00 2024-10-31 462979080 Allman & Associates Inc 9600 Great Hills Trail Suite 150W Austin TX 78759 990 2023-11-01 741213601 MUNICIPAL ADVISORY COUNCIL OF TEXAS MUNI 5124766947 600 W 8TH ST AUSTIN TX 78701 LAURA SLAUGHTER EXECUTIVE DIRECTOR 5124766947 2025-06-09 true true Peter L Allman CPA P00648533 5125023077 2025-06-09 2023 2025-03-06 01:10:19Z LAURA SLAUGHTER 600 W 8TH ST AUSTIN TX 78701 7219306 false X WWW.MACTEXAS.COM X 1954 TX THE MAC IS THE ONLY SOURCE IN TEXAS, OF COMPREHENSIVE FINANCIAL INFORMATION REGARDING MUNICIPAL DEBT ISSUERS. ITS INFORMATION SERVICES PROVIDE BENEFITS TO ISSUERS, BROKER-DEALERS, INVESTORS, STATE GOVERNMENT AND THE CITIZENS OF TEXAS. 10 10 34 10 89167 0 0 5171495 5769188 384960 433621 44583 90889 5601038 6293698 0 0 3711708 4199545 0 0 1596790 1582267 5308498 5781812 292540 511886 11338252 11997511 985266 966920 10352986 11030591 THE PURPOSE OF THE MUNICIPAL ADVISORY COUNCIL OF TEXAS IS TO PROMOTE EFFECTIVE AND EFFICIENT INVESTMENT BANKING, UNDERWRITING, TRADING AND SALES OF MUNICIPAL DEBT BY COLLECTING, MAINTAINING AND DISTRIBUTING INFORMATION RELATING TO ISSUING ENTITIES. false false TEXAS MUNICIPAL REPORTS - THE MAC PUBLISHES AND REGULARLY UPDATES NEARLY 5,000 TEXAS MUNICIPAL REPORTS (TMRS), WHICH ARE A COLLECTION OF FINANCIAL AND ECONOMIC DATA ON EACH STATE AGENCY AND LOCAL GOVERNMENT ISSUER. EACH TMR INCLUDES, AT A MINIMUM, AN ISSUERS OUTSTANDING DEBT AND DEBT SERVICE SCHEDULE, ITS BASIC FINANCIAL OPERATING STATEMENTS, ITS ECONOMIC BACKGROUND, AND A LIST OF ITS FINANCE-RELATED OFFICIALS. THE TMRS ALSO INCLUDE VITAL TAX INFORMATION FOR ISSUERS WITH TAX- SUPPORTED DEBT. TO FACILITATE TMR PRODUCTION, MAC ANALYSTS UTILIZE DATA FROM AUDITS, CONTINUING DISCLOSURE FILINGS, OFFICIAL STATEMENTS, COUNTY APPRAISAL DISTRICTS, THE STATE COMPTROLLERS OFFICE, AND VARIOUS WEBSITES. THE MAC USES THE INFORMATION FROM ISSUERS WITH OVERLAPPING JURISDICTIONS TO CALCULATE THEIR OVERLAPPING TAX-SUPPORTED DEBT TEXAS BOND REPORTER - THE MAC PUBLISHES THE TEXAS BOND REPORTER, A WEEKLY MAGAZINE THAT PROVIDES THE UPCOMING WEEKS COMPETITIVE AND NEGOTIATED SALE CALENDAR, SCHEDULED BOND ELECTIONS, MATERIAL EVENT NOTICES, AND OTHER TIMELY ISSUER UPDATES. THE TEXAS BOND REPORTER QUALIFIES AS A FINANCIAL JOURNAL PUBLISHED IN THE STATE FOR PURPOSES OF LAWS AND BOND COVENANTS REQUIRING PUBLICATION OF NOTICES. THE MAC PUBLISHES ISSUER NOTICES WITHOUT CHARGE. SERVICE TO STATE AGENCIES - MAC SUPPLIES INFORMATION REGARDING TEXAS MUNICIPAL DEBT ISSUERS TO SEVERAL STATE AGENCIES FOR USE IN RELATED PROGRAMS - THE TEXAS WATER DEVELOPMENT BOARD, WHICH RUNS A STATE BOND BANK TO FINANCE WATER RESOURCE AND CLEANWATER PROJECTS BY PURCHASING LOCAL GOVERNMENT DEBT ISSUED FOR THAT PURPOSE; THE TEXAS EDUCATION AGENCY, WHICH MANAGES A FINANCIAL GUARANTY PROGRAM FOR SCHOOL DISTRICT DEBT BACKED BY THE STATES PERMANENT SCHOOL FUND (PSF); AND THE TEXAS PUBLIC FINANCE AUTHORITY, WHICH PROVIDES FINANCING FOR THE CONSTRUCTION OR ACQUISITION OF FACILITIES FOR STATE AGENCIES. false false false true false false false false false true false false false true false true false false false false false false false false false false false false true false false false true false false false false false false false false false false true 9 0 true 34 true true true false false false false false false false X 10 10 false false false false true true true true true false false true true true true true true true true false X LAURA LUSK 5124766947 600 W 8TH ST AUSTIN TX 78701 LAURA SLAUGHTER EXECUTIVE DIRECTOR 40.00 X 416112 0 68015 TERRENCE SPENCER SENIOR IT CONSULTANT 40.00 X 219326 0 48442 LAURA LUSK SECRETARY/CFO 40.00 X 189724 0 69212 BRANDON DALTON DIRECTOR OF SOFTWARE DEVELOPMENT 40.00 X 172635 0 28467 STERLING JAYNES DIRECTOR OF IT OPERATIONS 40.00 X 167718 0 31098 ELISSA BOESHART SENIOR FINANCIAL ANALYST 40.00 X 107590 0 20061 BARBARA DEWEY TEXAS BOND REPORTER EDITOR 40.00 X 100726 0 35163 DONALD GONZALES CHAIR 2.00 X X 0 0 0 ROBIN REDFORD VICE CHAIR 1.00 X X 0 0 0 MARK MCGRUDER IMMEDIATE PAST CHAIR 1.00 X X 0 0 0 STEPHEN EUSTIS TRUSTEE 1.00 X 0 0 0 ESTER FLORES TRUSTEE 1.00 X 0 0 0 ANDREW T FRIEDMAN TRUSTEE 1.00 X 0 0 0 RANDALL HAWKINS TRUSTEE 1.00 X 0 0 0 SHAWNELL HOLMAN TRUSTEE 1.00 X 0 0 0 RICK MENCHACA TRUSTEE 1.00 X 0 0 0 CHAD RUNNELS TRUSTEE 1.00 X 0 0 0 1373831 0 300458 7 false true false UNDERWRITING ASSESSMENT 900099 4406568 0 0 SUBSCRIPTION FEES 900099 868907 0 0 SPECIAL PROJECTS 900099 227188 0 0 ANNUAL MEETING/CONFERE 900099 266525 0 0 5769188 433621 0 433621 925608 925608 0 0 0 0 0 ADMINISTRATION FEES 900999 89167 0 89167 0 OTHER INCOME 900999 1722 0 0 1722 90889 6293698 5769188 89167 435343 772769 0 0 0 2750945 0 0 0 141103 0 0 0 310971 0 0 0 223757 0 0 0 2905 0 0 0 17790 0 0 0 51572 0 0 0 104601 0 0 0 66893 0 0 0 203680 0 0 0 174350 0 0 0 39926 0 0 0 404932 0 0 0 111991 0 0 0 52054 0 0 0 DUES AND SUBSCRIPTIONS 351573 0 0 0 5781812 0 0 0 380825 183499 510978 610033 308725 244648 2372554 1522168 916231 850386 9221493 10108945 11338252 11997511 554086 412662 112644 112177 318536 442081 985266 966920 X 10352986 11030591 10352986 11030591 11338252 11997511 511886 165719 X false true X true false false true false 0 337184 337184 1506562 1126736 379826 528808 395432 133376 850386 DEFERRED COMPENSATION 442081 442081 6459417 165719 165719 6293698 6293698 5781812 5781812 5781812 X X X X false true false LAURA SLAUGHTER 275915 0 94000 0 46197 0 50353 0 17662 0 484127 0 28889 0 TERRENCE SPENCER 219326 0 0 0 0 0 9119 0 39323 0 267768 0 0 0 LAURA LUSK 133459 0 40000 0 16265 0 30380 0 38832 0 258936 0 10833 0 BRANDON DALTON 152635 0 20000 0 0 0 18342 0 10125 0 201102 0 0 0 STERLING JAYNES 147718 0 20000 0 0 0 17925 0 13172 0 198815 0 0 0 Pt I Line 4b DURING THE YEAR, THE EXECUTIVE DIRECTOR, CHIEF FINANCIAL ANALYST, IT PRODUCT DIRECTOR, CHIEF FINANCIAL OFFICER, DIRECTOR OF IT OPERATIONS, AND DIRECTOR OF SOFTWARE DEVELOPMENT PARTICIPATED IN DEFERRED COMPENSATION AGREEMENTS. THE AGREEMENTS PROVIDE FOR ANNUAL AWARDS THAT ARE VESTED AFTER THREE YEARS OF SERVICE AT WHICH TIME THE EMPLOYEES ARE 100% VESTED. BAIRD MAC MEMBER 399314 UNDERWRITITNG false RAYMOND JAMES MAC MEMBER 387399 UNDERWRITITNG false JEFFERIES LLC MAC MEMBER 385208 UNDERWRITITNG false PIPER SANDLER & CO MAC MEMBER 320926 UNDERWRITITNG false BOK FINANCIAL SECURITIES INC MAC MEMBER 311101 UNDERWRITITNG false JPMORGAN CHASE & CO MAC MEMBER 243254 UNDERWRITITNG false RBC CAPITAL MARKETS MAC MEMBER 238181 UNDERWRITITNG false SAMCO CAPITAL MARKETS INC MAC MEMBER 226315 UNDERWRITITNG false WELLS FARGO BANK NA MAC MEMBER 210479 UNDERWRITITNG false BOFA SECURITIES MAC MEMBER 181225 UNDERWRITITNG false FROST BANK MAC MEMBER 177439 UNDERWRITITNG false FHN FINANCIAL MAC MEMBER 137694 UNDERWRITITNG false SIEBERT WILLIAMS SHANK & CO LLC MAC MEMBER 131334 UNDERWRITITNG false HILLTOP SECURITIES INC MAC MEMBER 125768 UNDERWRITITNG false STIFEL NICOLAUS & COMPANY INC MAC MEMBER 106630 UNDERWRITITNG false Pt VI, Line 6 MAC HAS TWO CLASSES OF MEMBERS, VOTING MEMBERS AND NON-VOTING MEMBERS. ANY CORPORATION, FIRM OR OTHER ENTITY AUTHORIZED TO TRANSACT INVESTMENT BANKING, UNDERWRITING, OR TRADING AND SALES OF MUNICIPAL DEBT UNDER THE LAWS OF THE STATE OF TEXAS AND HAVING A PLACE OF BUSINESS IN THE STATE OF TEXAS AND ACTIVELY ENGAGED IN THE BUSINESS OF UNDERWRITING, OR BUYING OR SELLING BONDS AND OTHER SECURITIES ISSUED BY THE STATE OF TEXAS OR BY SUBORDINATE OF LOCAL GOVERNMENT CORPORATIONS OR AGENCIES, ARE ELIGIBLE TO APPLY TO BE A VOTING MEMBER, PROVIDED HOWEVER, THAT THE APPLICANT FOR MEMBERSHIP IS REGISTERED AS A MUNICIPAL SECURITES DEALER WITH THE SECURITIES AND EXCHANGE COMMISSION OR WITH THE TEXAS STATE SECURITIES BOARD IF REQUIRED BY LAW. Pt VI, Line 7a EACH VOTING MEMBER IS ENTITLED TO ONE VOTE ON EACH MATTER SUBMITTED TO A VOTE OF THE VOTING MEMBERS. AT EACH ELECTION FOR TRUSTEES, EVERY VOTING MEMBER ENTITLED TO A VOTE AT SUCH ELECTION HAS THE RIGHT TO VOTE IN PERSON OR BY PROXY, FOR AS MANY PERSONS AS THERE ARE TRUSTEES TO BE ELECTED. Pt VI, Line 7b THE ANNUAL BUDGET OF MAC IS APPROVED BY THE VOTING MEMBERS. OTHER DECISIONS OF SIGNIFICANCE TO MAC ARE PUT TO A VOTE OF THE VOTING MEMBERS. Pt VI, Line 11b FORM 990 IS PREPARED BY A CPA AND REVIEWED BY THE EXECUTIVE DIRECTOR. AN ELECTRONIC COPY IS PROVIDED TO THE BOARD OF TRUSTEES BEFORE IT IS FILED. Pt VI, Line 12c TO MONITOR THE CONFLICT OF INTEREST POLICY ADOPTED BY MAC, TRUSTEES ARE REQUIRED TO SIGN STATEMENTS ANNUALLY AND ARE ASKED AT THE BEGINNING OF EACH BOARD MEETING ABOUT ANY CONFLICTS OF INTEREST. Pt VI, Line 15a PROCEDURE FOR APPROVING COMPENSATION - IN REVIEWING AND APPROVING THE COMPENSATION OF ANY COVERED INDIVIDUAL (WHICH INCLUDES THE CHIEF EXECUTIVE) OFFICERS AND KEY EMPLOYEES, THE MAC BOARD OF TRUSTEES, OR A DELEGATED COMMITTEE, SUCH AS A COMPENSATION COMMITTEE OF THE BOARD (REFERRED TO AS THE APPROVAL BODY BELOW) WILL UTILIZE THE FOLLOWING PROCESS: (1) IMPARTIAL DECISION MAKERS - THE COMPENSATION ARRANGEMENT MUST BE APPROVED IN ADVANCE (BEFORE ANY PAYMENT IS MADE) BY THE APPROVAL BODY OF MAC COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT (EXAMPLE: NEITHER THE EXECUTIVE WHOSE COMPENSATION IS BEING DETERMINED NOR ANY OF HIS/HER FAMILY MEMBERS MAY BE PRESENT DURING DISCUSSION/DEBATE OR PARTICIPATE IN THE VOTE. (2) COMPARABILITY DATA - WHEN THE APPROVAL BODY IS CONSIDERING COMPENSATION TO COVERED INDIVIDUALS, IT MUST RELY ON COMPARABILITY DATA THAT DEMONSTRATES THE FAIR MARKET VALUE OF THE COMPENSATION IN QUESTION. FOR EXAMPLE, WHEN CRAFTING COMPENSATION PACKAGES, THE APPROVAL BODY MUST SECURE DATA THAT DOCUMENTS COMPENSATION LEVELS FOR SIMILARLY QUALIFIED INDIVIDUALS IN LIKE POSITIONS AT LIKE ORGANIZATIONS. THE DATA MAY INCLUDE THE FOLLOWING: (A) EXPERT COMPENSATION STUDIES BY INDEPENDENT FIRMS, (B) WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS, (C) DOCUMENTED TELEPHONE CALLS ABOUT SIMILAR POSITIONS AT BOTH NONPROFIT AND FOR PROFIT ORGANIZATIONS, (D) INFORMATION OBTAINED FROM THE IRS FORM 990 FILINGS OF SIMILAR ORGANIZATIONS, AND (E) HISTORICAL COMPENSATION PAID TO EMPLOYEES OF MAC HOLDING SIMILAR POSITIONS. (3) CONCURRENT DOCUMENTATION - THE APPROVAL BODY MUST DOCUMENT HOW IT REACHED ITS DECISIONS, INCLUDING THE DATA ON WHICH IT RELIED. TO QUALIFY AS CONCURRENT DOCUMENTATION, WRITTEN OR ELECTRONIC RECORDS OF THE APPROVAL BODY (SUCH AS MEETING MINUTES) MUST NOTE (A) THE TERMS OF THE COMPENSATION AND THE DATE IT WAS APPROVED. (B) THE MEMBERS OF THE APPROVAL BODY WHO WERE PRESENT DURING THE DEBATE ON THE COMPENSATION THAT WAS APPROVED AND THOSE WHO VOTED ON IT, (C) THE OMPARABILITY DATA OBTAINED AND RELIED UPON AND HOW THE DATA WAS OBTAINED, AND (D) ANY ACTIONS TAKEN WITH RESPECT TO CONSIDERATION OF THE COMPENSATION BY ANYONE WHO IS OTHERWISE A MEMBER OF THE APPROVAL BODY BUT WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO THE DECISION ON THE COMPENSATION IN REVIEWING AND APPROVING THE COMPENSATION OF ANY COVERED INDIVIDUAL THAT IS NOT THE CHIEF EXECUTIVE, PROVIDED THAT (I) THE CHIEF EXECUTIVE COMPLIES IN ALL MATERIAL RESPECTS WITH STEPS 2 AND 3 ABOVE AND (II) THE APPROVAL BODY COMPLIES IN ALL MATERIAL RESPECTS WITH STEP 1 ABOVE. Pt VI, Line 15b SEE RESPONSE FOR PT VI, LINE 15A Pt VI, Line 19 CERTAIN OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST TO THE PUBLIC AND POSTED ON WEBSITE FOR MEMBERS AND SUBSCRIBERS.