Every figure on MuniPro sits in exactly one of three tiers — maintained, sourced, or computed — and the tier fixes what we may claim about it.
The issuer’s debt as it actually stands: series and maturities; obligor, credit, and project hierarchy; premium, discount, and OID amortization; refunding, defeasance, and tender state; allocations; and the obligations that never carried a CUSIP — certificates of participation, notes and loans payable, direct purchases and private placements, commercial paper.
This is the only tier we call a system of record, built out issuer by issuer as each record is compiled and verified.
EMMA and the MSRB trade tape, continuing disclosures and material events, rating-agency actions, 13F and N-PORT holdings, benchmark and evaluated curves.
These records belong to the MSRB, the SEC, the rating agencies, and the filers. We source them, verify them against source, timestamp them, and link them back — and we are never their system of record.
TIC and all-in cost, PV savings, option-adjusted spread and yield, GASB schedules, evaluated marks.
A computed number is record-grade when it is reproducible: same inputs, same output, every time, with assumptions and method version attached.
We claim to be the system of record only for what you could not reconstruct from a public source without us.
A record that reports what it does not know is the only kind an auditor accepts. On public issuer pages, a missing figure is a named state, never a silent zero — these are the actual labels the pages render:
Every figure that renders as verified traces to a primary document; every figure that doesn’t says so in place.
See It Live
Issuer profiles on BondGov carry the record’s own labels — verified marks, as-of dates, and not-compiled states included.