Interim Updates
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Release
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Download Updates
(right-click on
the files to save them to your local drive)
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Instructions
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Enhancements
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Release 2008
V. 1369 (both SQL Server &
BDE versions)
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FastBde1369.W01
.(for bde users)
FastSql1369.W01
.. (for SQL Server users)
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Save the FastBdeBde.W01 or
FastSql1369.W01 file to your c:\program files\Prescient
Software\Mun-Ease folder. (Hereafter, substitute either
the text Bde or Sql for "xxx" in our instructions.
Rename Fast"xxx"1369.w01
to Fast"xxx"1369.Exe. From the Windows start menu,
choose Start | Run | c:\program files\Prescient Software\Mun-Ease\Fast"xxx"1369.Exe.
Enter the password that we
provided in the letter that accompanied your 2008 user guide.
Note: You must have installed the 2008 version from the
CD ROM before you can load these updates.
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Save the RFast1298p.W01 file
to your wmuni folder on your local drive. Rename RFast1298p.w01
to RFast1298p.Exe. From the Windows start menu, choose Start
| Run | c:\wmuni\RFast1298p.exe. Enter the password that
we provided with your user guide. Note: You must have installed
the 12.00 version from the CD ROM before you can load these
updates.
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Save these files to your
wmuni folder on your local drive. Rename Fast1195b.w01 to
Fast1195b.exe. From the Windows start menu, choose Start
| Run | c:\wmuni\fast1195b.exe. Enter the password that
we provided with your user guide. Note: You must have installed
the 11.75 version from CD ROM before you can load these
updates.
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Save these files to your
wmuni folder on your local drive. Rename Fast1098.w01 to
Fast1098.exe. From the Windows start menu, choose Start
| Run | c:\wmuni\fast1098.exe. Enter the password that we
provided with your user guide.
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Save these files to your
wmuni folder on your local drive. Rename Fast997f.w01 to
Fast997f.exe. From the Windows start menu, choose Start
| Run | c:\wmuni\fast997f.exe. Enter the password that we
provided with your user guide.
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Save these files to your
wmuni folder on your local drive. Rename Fast899d.w01 to
Fast899d.exe. From the Windows start menu, choose Start
| Run | c:\wmuni\fast899d.exe. Enter the password that we
provided with your user guide.
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New Allocation Reports (13.63)
We've added five new allocation reports (#64h-l). These reports
display allocated debt service and outstanding debt across a range
of years defined by the user. This menu option provides numerous
options for how debt service is sorted, summarized, and displayed.
(allocate | by individual maturities | allocation reports | multi-yr
dsv/paying agt).
We have modified the window that displays rebate transactions.
The new grid eliminates the amount column. Instead the user enters
data in the two columns that were previously "read-only"
and that were used to display the effects of the transaction amount.
For nonpurpose investments, these columns are labeled "amount
invested" or "amount received." For purpose expenditures,
the columns are labeled "expenditure" or "adjustment
to expenditure." Background: Users often had trouble determining
whether a transaction should be entered as a positive or negative
number. This change hopefully will eliminate (or greatly reduce)
the confusion.
We have changed our help system to allow Mun-Ease to display
help topics in either compiled HTML (.CHM) or classic help format
(.HLP). Previously Mun-Ease only displayed help in classic help
format. You can select a format by clicking on the User Ops speed
button and checking the desired format in the bottom left-hand
corner of the first tabbed window. Background: By default, Windows
Vista supports only help in a compiled HTML format. Vista requires
the user to install a separate program to display classic help
files. This new change eliminates the need to install the program
under Windows Vista.
In previous versions of the 2008 version, the BDE version of
Mun-Ease updated the private use database tables as defined by
the MuniDb database alias instead of the Mun-EaseMainDb database.
This problem affected only the BDE version and not the SQL Server
version. We corrected this problem so that the correct database
is updated.
We now provide an option for the user to include bond surety
fees in the true interest cost (TIC) calculation. Previously,
we included bond surety fees only in arbitrage yield limit calculation
and NOT the true interest cost. Background: While we don't necessarily
agree with this trend, we are seeing more and more reports where
the underwriter includes bond surety fees in the true interest
calculation. We provide this option to facilitate the reconciliation
of the user's calculations to those of the underwriter. You can
initiate this option by clicking on the User Ops speed button
and checking the desired calculation option on the left-hand side
of the first tabbed window.
We added a new column to the grid that is displayed when a user
is adding or editing a "maturity-by-maturity" allocation.
This new read-only column displays the called switch in a "Y/N"
format. This feature helps a user to determine the amount of allocations
to be assigned to each maturity when a prior refunding called
only part of one or more maturities.
In the BDE version of Mun-Ease, "Bond Copy" function
now allows the user to enter a 4-character suffix. Previously,
the suffix was limited to 3 characters. This limitation only affected
the BDE version of Mun-Ease.
We modified the import/export function within Mun-Ease so that
the user can select the folder where a bond issue is read or written.
The default import/export location for previous versions was a
user's personal directory (file | database maintenance | import/export).
Recent Changes to the 2008 version of Mun-Ease (13.50 CD 01/21/09)
New Commercial Paper (CP) Features
We've added new features for the calculation and input of a commercial
paper debt within Mun-Ease. Users can initiate these features
by pressing the commercial paper button while in the notes / variable
rate bonds grid. When you press the commercial paper button, Mun-Ease
displays a popup window to calculate either the yield, purchase
amount, or maturity amount of the CP transaction and a button
to paste the results back to the variable rate /notes grid.
Background: Tax-exempt commercial paper is usually structured
with maturities (tranches) ranging from 30 to 270 days. As a tranche
matures, it is typically rolled over into a new maturity at prevailing
interest rates.
For the purpose of calculating the arbitrage yield, the different
tranches of a commercial paper program are treated as a single
bond issue if they are issued within 18 months of the original
issue date and are part of a common plan of financing. In general,
rollovers after the initial 18-month period are also treated as
part of the same issue if there is no increase in the amount of
outstanding indebtedness.
We have included detailed instructions for using our commercial
paper features in the latest2008.pdf file that resides in the
user's personal directory. This .PDf file can be viewed through
the help | chgs to documentation menu option.
New Features in the Stand-Alone Reporting Module
We have created two new reports in the Stand-Alone Reporting
module (#4e, #4f) that can be included in an issuer's annual CAFR.
These reports display yearly totals for combined debt service
in the first five years; then summarize debt service in 5-year
increments for the remaining years. Report #4f is similar to #4e
except that is also sorted by the Issue Type code (reports
| combined debt service reports | combined in 5-year increments
for CAFR).
We've created a new combined debt service report that is sorted
by Bond ID (#4g). This report is created along with the other
combined debt service reports (#4a,b & c) when you choose
the report | combined debt service | by date and ID menu
option.
We modified the combined debt service report (#4c) in the Stand-Alone
Reporting module to correctly compute outstanding indebtedness
when the report includes bond issues composed solely of zero-coupon
bonds (CABs). In prior releases, the outstanding debt was not
computed correctly because Mun-Ease displayed the debt service
of a bond issue composed solely of CABs only when a CAB matured.
New Features in the Arbitrage Module
We've added a new option that allows the user to calculate the
internal rate of return (IRR) on nonpurpose investments or purpose
expenditures that fall beyond the temporary period. If the user
calculates the IRR on investments or expenditures falling beyond
the temporary period, he can generate IRR verification report
(#79c/d) (arbitrage | rebate/penalty calculations).
We have modified the yield-reduction payment calculation in the
Arbitrage module to exclude computation credits.
We now provide an option to perform the arbitrage yield-to-call
test using either the current rules under Section 1.148.4(b)-3
or the rules proposed by the IRS in September 2007. We anticipate
that the new rules will be finalized during 2009. This option
is available when you choose the arbitrage | yield tests |
yield-to-call test menu option.
We've enhanced the report selection options for the rebate /
penalty calculations menu option (arbitrage | rebate/penalty calculations).
In previous versions, users only had the option of performing
rebate / penalty calculations for all transactions in a bond issue
or for selected funds. In this release, we have included a new
selection option that allows the user to perform calculations
for all or a range of Group IDs.
Users should find this feature useful when they choose to perform
separate rebate calculations for each bond year in a variable
rate bond issue. For example, you could assign rebate transactions
for the 2009 bond year with group IDs ranging from 20090000 to
20099999. Then by selecting this range, you can perform rebate
calculations for just the 2009 bond year.
New Features in the Allocations Module
We added new reports to the Allocations module that summarize
combined debt service to a level defined by the user.
Background: The allocation coding block is structured
hierarchically much like a general-ledger account number. It is
composed of four 10-character alpha-numeric segments. When the
user generates report #64, Mun-Ease requires the user to define
the allocation hierarchy (i. e., the sort order for the four 10-character
allocation segments) and the summarization level (the report can
be summarized to (a) the top level, (b) top two levels, (c) top
three levels, or (d) at the detail level (all four levels). To
use this feature, choose either the allocate | by individual maturities
|allocation reports | multi-year debt service menu option or the
allocate | by gross debt service | combined debt service on a
cash basis (#64d) menu option.
We modified the combined debt service report (#64) in the Allocations
module to include an additional column showing outstanding indebtedness
as of each coupon payment date (allocate | by individual maturities
|allocation reports | multi-year debt service).
We added a new feature in the Allocations module to allow the
user to update the description of an allocation coding block across
bond issues. Background: Initially the allocation description
is entered for a single bond issue. This new capability allows
the user to update "in-mass" all allocations instead
of modifying them individually for each bond issue (allocate
| by individual maturities |edit/view/delete allocations | add
a global description).
We made cosmetic changes to the single-year indebtedness reports
in the Allocations module. In some instances, the date column
was truncated.
New Performance Enhancements for the SQL Server version
We've modified the SQL Server version of Mun-Ease to use client
data sets for the Rebate transaction table. Background: Previous
versions of Mun-Ease updated the Rebate transaction table directly
on the network server. Users who have a large number of rebate
transactions reported that they were experiencing slow response
time. To enhance performance in these situations, Mun-Ease now
filters the rebate transaction data by Bond ID, and moves the
filtered rebate transactions to a temporary table residing on
the user's PC. The user makes all changes to this temporary table.
Once he has finished updating the rebate data, all modified transactions
are applied back to the server.
In certain instances, the SQL Server database cache was not emptied
before a user would generate a report through Crystal Reports.
We modified Mun-Ease to force SQL Server to apply all updates
in its database cache prior to calling Crystal Reports.
New Features for Variable Rate Bonds
We've added new date fields to the initial setup window for the
file | variable rate bonds | setup menu option. We've added these
fields in case the user desires to override the calculated fields
from the variable rate debt service table.
We now save the variable rate ceiling field to the variable rate
bond issue. Because many banks calculate letter of credit (LOC)
fees based on the interest rate ceiling instead of the effective
interest rate, Mun-Ease now provides similar LOC fee calculation
options.
We now save the tranche identifier to the bond master file. Previously
the tranche identifier was only saved to the variable rate database
table.
We now allow you to duplicate the periodic disbursements of credit
enhancements by pressing the F12 function key while in the variable
rate grid. The amount is duplicated for all remaining payment
periods of the note or variable rate bond.
Miscellaneous Changes
We now provide an option to disable the bankers' rule for rounding
interest. If the bankers' rule is enabled, half-penny amounts
are rounded to the nearest even number. If the rule is disabled,
half-penny amounts are rounded to the nearest penny (setup
| user options | edit your own profile).
We have added new security features that can be optionally implemented
by the Mun-Ease administrator. If the administrator restricts
a user to only reporting functions and the user has purchased
modules in addition to the stand-alone reporting module, then
the user is allowed to run reports within the modules that he
has purchased. However, the user is restricted from the update
functions of the modules that he has purchased.
We corrected the spreadsheet interface for loading bond transactions.
Previously call information was not loaded from the spreadsheet.
We changed the default location for the databases in the BDE
version so that it does not exceed 30 characters. Background:
The Mun-Ease interface with Crystal Reports requires that we pass
the folder path to Crystal through DDE (dynamic data exchange).
Crystal limits the length of the path to 80 characters. Also the
utility that we use to backup the database to a zip file limits
the path to 30 characters. Note that these length limitations
apply only in the BDE version and not the SQL Server version.
(The SQL Server version of Mun-Ease uses UDL file connection strings
which can store path names of unlimited length.)
V. 13.25 (July, 2008)
We have changed the way line items for the other issuance costs
field are entered. Users now have the option of either entering
a fixed amount for each line item or entering a percentage of
par amount. Thus amount of the line item and the total of other
issuance costs are determined during the sizing process and not
during the input process. All of the line items are saved to a
refunding/sizing profile. (Sizing and Refunding modules).
We now provide a new option to users who are sizing a new-money
or refunding bond issue using an existing profile. Users can request
Mun-Ease to use the rate scale specified during data entry or
the rates that were saved in the profile from previous analysis.
(Sizing and Refunding modules).
We have added a new monthly accruals report (#105) that can be
used to book journal entries for the monthly accruals of current
interest and accretions of zero-coupon interest. We provided this
report at the request of users who are working with enterprise
funds. (Stand-Alone Reporting Module).
We have added new options for the calculation of letter of credit
(LOC) fees. LOC fees can now be calculated as a percentage of
outstanding debt or outstanding debt plus interest. Because LOC
fees for variable rate bonds are often calculated based on the
maximum interest rate allowed (the ceiling), we provide an option
to input an interest rate to be used in the calculation of the
LOC fees. Users can request the calculation of the LOC fee on
a 30/360, actual/actual, or actual/360 day basis. (Base, Sizing,
and Refunding modules).
We now provide an option to save all of the periodic fees to
a sizing or refunding profile. Previous versions only saved only
the first two periodic fees. (Sizing and Refunding modules).
When generating the debt service capacity / constraint report
on a combined basis, we now allow users to save the difference
between the combined debt service and capacity constraint to a
project. By saving this information to a project, users can easily
size a new issue that wraps the debt service of the new issue
around the debt service of existing issues. See prior section
in this newsletter for details. (Stand-Alone Reporting Module).
We've included a new version of BDE version of Mun-Ease. This
version will run in a "locked-down" environment. The
new BDE database has the same architecture as our SQL Server version.
(In other words, the database tables, data fields, and the field
sizes are the exactly the same in both versions. (All Modules).
Importing Coupon Rates - We added a routine to initialize coupon
rates for all 40 years even if the rate scale to be imported does
not contain rates for certain years. Background: The rate scales
in the Wall Street Journal do not display rates for all the years
after year 20. (Base Module).
We enhanced the rounding routines in the sizing module. We also
eliminated a disk IO error message that occurs when a user is
resizing a bond issue using a bond ID that currently exists. (Sizing
Module).
We corrected a bug that occurs when a user attempts to merge two
or more variable rate bond issues into a single bond issue. (Base
Module).
We corrected a bug in the combined indebtedness report. The accruals
and accretions were not computed correctly if the report date
occurred within a bond's initial stub period. (Stand-Alone Reporting
Module).
We provide a new option to disable the database browse window
that the SQL Server version displays at startup. We also provide
another option to disable the backup reminder that Mun-Ease displays
when you exit Mun-Ease. Both options can be disabled by clicking
on the User Ops speed button below the main menu. (All modules
- SQL Server version).
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Miscellaneous Downloads
Maintenance & Support Agreement
Class Registration Form
Updates to USB Key Driver
Click
here to download the latest drivers for the USB key from the
Safenet Website.
Background: Safenet has issued an important update to their
USB key drivers. This link transfers you to a page on their
web site that explains the changes to their drivers. Click on
the download drivers link after being transferred to
their web page.
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