The BRB provides the following three services to its customers: 1) Approves all state bond issues and lease purchases with an initial principal amount of greater than $250,000 or a term longer than five years (with the exception of Tax Revenue Anticipation Notes, State Highway Fund Revenue Anticipation Notes, Permanent University Fund issuances, and non-general obligation issuances by university systems that have an unenhanced long-term debt rating of at least AA- or its equivalent); 2) Ensures that public officials have access to current information regarding state government debt, capital planning, finance, and debt management. The agency collects, maintains, and analyzes the status of local government debt and reports findings to the legislature, other state officials, and local policy makers; and, 3) Administers the state’s Private Activity Bond Allocation Program. The agency drafts administrative rules and guidelines for processing and reviewing applications for the state’s private activity bonds.