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Investment Banking Overview for Jenkins Independent Schools

April 23, 2007 Chip Sutherland. Investment Banking Overview for Jenkins Independent Schools. Summary of the Existing Debt. Calculation of Local Bondable Revenue Available from Local Tax Base and State-supported FSPK Funds. ASSUMPTIONS:

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Investment Banking Overview for Jenkins Independent Schools

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  1. April 23, 2007Chip Sutherland Investment Banking Overview forJenkins Independent Schools

  2. Summary of the Existing Debt

  3. Calculation of Local Bondable RevenueAvailable from Local Tax Base and State-supported FSPK Funds ASSUMPTIONS: 2006-2007 Total Valuation of Adjusted Property = $88,864,306 2006-2008 FSPK funding level of $318.50 2006-2007 AADA Plus Growth = 549.1

  4. Summary of Bonding Capacity Current Bonding Potential: Based on current interest rates and without taking into account future increases in State funding, the aforementioned revenues can bond approximately $2,124,586. Further, JIS can bond an additional $295,414 through the use of the district’s 2004 ($21,903) SFCC offers of assistance. The SFCC requires the following cash contributions to utilize these offers: Summary: Based on the assumptions used in our analysis and current market conditions, JIS can meet the debt service requirements on a $2,420,000 bond issue at an FSPK funding level of $318.50 per ADA.

  5. During cash flow analysis, consider: Legislative issues (other nickels and equalization) Local Nickel (Building Fund) Local Growth Nickel Local Equalized Growth Nickel Local Recallable Nickel State FSPK State Growth Nickel Equalization State Recallable Nickel Equalization FSPK funding Leveraging more than 80% Capital Outlay Interest rate fluctuation Retiring old debt Refunding existing issues AADA fluctuation Future SFCC Offers of Assistance Detailed analysis on next page explains cash flow impact of pending renovation projects on JIS bonding ability. Detailed Cash Flow Analysis

  6. Detailed Cash Flow Analysis

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