PubFinCriteria_2006_part1_final1.qxp

Debt A college or university’s total debt burden or total amount of debt outstanding relative to its operating budget also is pa ...

a general obligation pledge of a private university. Most private universities that sell debt issue unse- cured general obligati ...

Rating Public Colleges And Universities Standard & Poor’s rating approach for public uni- versities is similar to that used ...

Higher Education http://www.standardandpoors.com 183 Income statement ratios Revenue diversity (all numerators divided by adjust ...

different from that of a private institution. For example, while a large financial cushion allows a university more flexibility ...

The revenue pledge The GO analysis also forms the starting point for the analysis of a community college or district rev- enue b ...

■History of financial operations including cover- age of pro-forma maximum annual debt service; ■Scope of the pledged revenue st ...

tial demand for housing. If demand for on-campus housing is weak or non-existent, and the universi- ty’s long-term rating is low ...

Historical additional bonds tests are viewed more favorably than projected tests. The absence of an additional bonds test will b ...

■The project is highly essential for the institution and loss of control could be harmful to the insti- tution’s overall perform ...

account when considering institutional ratings. Self- supporting projects are generally viewed more favorably than projects, whi ...

strong operating performance, until the 1990s and 2000s, when performance was more strained. Thus, most medical schools have a h ...

and secondary schools. Parents may be forced to choose between a private primary/secondary educa- tion or a private college educ ...

tuition as their main source of revenues, although endowment income and auxiliary revenues from sources such as boarding fees, s ...

Private primary and secondary schools that show a combination of strong results when evaluated against the criteria discussed ab ...

an impartial legal framework for charter renewal or revocation, including a right to appeal a charter non-renewal; such oversigh ...

facilities financing. Others provide special per-pupil facilities funding. While each state’s formula for distributing funds to ...

states are not always determined on a per-pupil basis. Other financial factors include: Operating history Investment-grade rated ...

not yet developed an active public debt market for charter schools. Although charter school facilities financing varies substant ...

authorizer have guidelines regarding facilities or debt structure? Projected future debt service coverage margins are evaluated ...