MBS selected SunGard Treasury Systems based on its industry reputation and global presence, and on AvantGardâs compliance with FASB and GASB regulatory reporting requirements. AvantGard-APS 2 will provide MBS clients with a complete solution to help improve the efficiency of their treasury operations, including GASB reporting and the requirements of GASB 40. Included in the public sector offering will be functionality to perform fund accounting and interest apportionment as well as cash flow forecasting.
"This relationship allows us to make available a robust system to municipalities of various sizes and treasury sophistication, many of which would otherwise not be able to afford a system to manage their portfolio accounting and GASB reporting," said Dave Maccagnone, chief executive officer, Multi-Bank Securities, Inc.
"SunGard Treasury Systems is proud to expand the delivery of AvantGard-APS 2 through MBS as a co-branded product," said Ken Dummitt, president, SunGard Treasury Systems. "This relationship will expand SunGardâs reach to MBSâ 2,000-plus clients and provide MBS customers access to a robust portfolio accounting system, including a variety of GASB-specific reporting functionality, along with a proactive approach to systematizing treasury operations and process controls at a fraction of the cost," said Mr. Dummitt.