Bond Disclosures & Compliance

Continuing Bond Disclosures

Pursuant to the University policy, Financial Reporting Services collects a variety of financial and nonfinancial information to comply the requirements set forth in the bonds issued by the university.  Requests for information pertaining to the continuing bond disclosures should be directed to Jeff Hunter, Director of Financial Reporting Services.

Additionally, the University prepares a number of financial information reports that contain information around the debt compliance and ratios for the outstanding debt.  The primary ratios for the debt compliance used by the University are:

Debt Service Coverage Ratio (Bond Coverage Ratio)

For the period of time for which calculated, the ratio determined by dividing (a) a numerator equal to the Gross Revenues or Net Revenues (determined by bond documents) by (b) a denominator equal to the Debt Service Requirements.

Debt Service Requirements

The aggregate principal payments (whether at maturity, or upon mandatory sinking fund redemption, mandatory prepayment or otherwise) and interest payments required to be made during a specific period of time.