Case Study: City of Beverly Hills streamlines debt management and GASB compliance with DebtBook

City of Beverly Hills simplifies debt and GASB compliance with DebtBook for $112M in outstanding debt

The City of Beverly Hills faced challenges in managing its debt and complying with GASB standards for leases and subscription-based IT arrangements. With limited internal resources, the city relied on a mix of Excel spreadsheets and another software system, which created inefficient, manual processes and lacked a solution for new requirements like GASB 96. This led them to seek an outside vendor and they selected DebtBook for its subscription management service.

DebtBook implemented its platform to centralize the city's debt management, GASB 87 lease reporting, and GASB 96 compliance. The solution automated manual accounting work, simplified complex reporting, and provided a single source of truth. This resulted in dramatically improved efficiency, with the accounting manager testifying that reporting became as simple as pushing a button. The implementation also reduced key-person risk associated with spreadsheets and significantly streamlined the audit process, providing immediate visibility into underlying data.

City of Beverly Hills